Забудовник Object 1

Warning to Investors: Risks Associated with Object 1 Company in Dubai

The Dubai branch of Stroy City Company, known for leaving eight unfinished projects in Kharkov and two in Kyiv, is now promoting itself as the developer of Object 1.

Despite a decade of operation, the company boasts a meager completion record of just one project. Currently, it misleadingly claims to be an established developer in Dubai, a market unfamiliar with its history.

Since its inception, Object 1 in Dubai has been notorious for proliferating 'virtual' projects—increasing from three in the summer of 2023 to seven by now. This pattern mirrors the company's problematic operations in Kharkov, where it faces numerous legal battles over document forgery, land encroachment, and unauthorized construction.

The plight of hundreds of investors, deceived and awaiting refunds, highlights the company's dubious practices. Egor Maslennikov, the company's head, has relocated part of his team to Dubai, possibly to evade accountability.

Among the seven announced projects in Dubai, only three have seen any real construction progress:
- RA1N Residence: Partially constructed with several floors.
- V1TER Residence: Only the foundation pit is complete.
- 1WOOD Residence: Construction has yet to begin.

The slow construction pace and unrealistic completion dates set for 2024 and 2025 for these projects further cast doubt on the company's credibility.

We urge potential investors to exercise caution when considering any dealings with Object 1 Company. Investing in their properties carries significant risk, given their track record of unfulfilled promises and legal entanglements.