Comments on: Economic Crisis Curtails Dubai Building Boom

By: ivy

ivy — Tue, 01 Dec 2009 07:47:36 +0000

Dubai is a farce , a sham and what have u.It s a market in real estate which had no reason or rhyme and a lot of people and the government seem to be involved in the scam.We have invested in 5 properties where the work has not begun, where the RERA rules entitle us for a full refund,but the developers r not responding to law suits asking for a refund,wch is ridiculous.The developers incl the government builders like Nakheel and Emaar are sitting pretty on our ill gotten money..It s a shame

By: Spider

Spider — Wed, 25 Nov 2009 11:33:37 +0000

This is the end.. My dear friends.. with no hope!!

By: T Y

T Y — Thu, 19 Nov 2009 05:20:36 +0000

Well am very sure that every one here is speaking out of expirience and expiriences.. but the fact remains that dubai do not have that a life time of growth like europe and america not even like some asian countries like china hong kong. japan and many more, (1) the sorounding countries that has influences and eneminities, (2) the general religiors governing, (3) the fake advertising fomulers which will surely boomarang telling poeple of zero tax whereby indirectly extorting more than what tax should have been. (5) zero human right impliment, and finaly zero production, and even do not allow the investors to permanently own the investments with an aduquet visas protections or rite over them self, so by looking at all the carritarials u can agree totaly with me that dubai has been exposed and poeple have leant there leasons, so the goverment is down and out

By: maso

maso — Sun, 31 May 2009 14:33:51 +0000

True , you can see the deserted counters in leading departments.

By: Larry

Larry — Sun, 15 Mar 2009 14:16:30 +0000

People have to realize that this entire crisis is based in the “fake” expectation of making a huge profit from a few $$ invested in a house or whatever, is impossible to grow unlimited in a limited environment (like it is our planet), how the biggest investors average a 20 to 25% profit along the year, how would anyone hope for this to last forever. Unfortunately the real estate sector will not pick up in the next year, and it will never be the same anymore, people have to learn the lesson, easy come easy goes.

Does somebody remember that after 9/11 Dubai hit the wall? Now this crisis is even worst, because is global.

I am not being negative but only honest, this is my opinion. I have lived in Dubai for long enough to know that the UAE’s is supported in a fake economy; companies were building and borrowing money on the promise of selling properties they have already sold, so to keep it working they need to keep building therefore borrowing, do not tell me that the government did not know anything about it. Why constructing companies avoid workers from returning to theirs countries by keeping passports if they are not paid, is this the way a modern civilized country react to a crisis?

You be my guest.

By: sebaz

sebaz — Thu, 12 Mar 2009 21:09:56 +0000

dear noel,
u dont happen to have something invested there… right

By: Noel

Noel — Thu, 08 Jan 2009 22:26:06 +0000

What happend in last months for Dubai property market was a good experience. Once- those who gambled around realty store and created this artificial boom finished like in a casino session .. has to live the place only with pleasure of be for one moment in touch with a dream. Over night not all we can become rich. (Happy if u get back your starting investment).. And second .. People have to realize that -real estate don’t mean only land and buildings.Between are so many industries and if u cannot control it from inside a small wind in global market can take away your sand castle. (and unlucky at this time was a big storm).
Anyway i’m confident the things will settle down very soon because Dubai have lot of advantages what we cannot get nowhere in the world.. first is low rate of criminality what is really wondering in a place of mixed cultures and religions like this. As foreigners we get all the rights (excluding citizenship which is also normal in a country where locals are minority.. actually is funny but they are foreigners in them own place).Another important thing .. compared with whole world .. is a sress less place. Is a feeling around which come from goverment of care about everything .. as roads network, public transport, city cleaning,etc .. But finally as conclusion .. we don’t have to forget that.. this place was built on sand .. and no one can catch the sand by hands.. we can come here, get a good job, live a good life, assure some financial stabililty for our family and for old ages, hold a property or many properties here, a business, put our best here, enjoy the moments and someday we have to leave because are too many other people outside waiting for a seat in ” paradise city”
The story might continue .. and the show must go on ..and are there so many things to do…

By: Dubai Property Investment

Dubai Property Investment — Thu, 08 Jan 2009 07:36:55 +0000

In a way I agree with anu because there is always an opportunity when there is a dip or fall in the market. But there is also a proper time to enter such a market. You have to look at various factors before do that though.

Generally speaking the economic crisis has surely slowed the construction pace in Dubai.

By: jy

jy — Sun, 04 Jan 2009 21:37:28 +0000

Dubai is all hype been there concrete jungle no real beauty just a massive building site with loads of shopping….when youve seen one shop youve seen them all …..nothing to really impress me!!!

By: anu

anu — Sun, 04 Jan 2009 08:59:14 +0000

Thanks for your article. But in my opinion, Dubai is still a heaven for investors, especially in property sector.