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    Umm Al Quwain Marina by Emaar - Discussion

    HI All, Anyone out there with UAQ Marina property? Wanted to get status of the property, its suppose to be delivered by June 30th. Any information on the state of project, funding, power issues, masterplan etc etc. There are 277 villas planned to be completed there, and the subsequent...
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    Are we yet to see the worst of the Dubai property market fall?

    Wishful Thinking As much as I would love to see the market bottoming out; unfortunately, the reality is very different. I think summer 09' will tell the story pretty well. I cannot imagine the market ever coming back here, unless the government decides to open up full immigration and let the...
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    RERA - Chief Justice of Dubai Real Estate Court confirms 30% of Paid Amount

    I have NO trust in the legal system here. I used to read all these stories and listen to thousands of opinions. And always kept my last resort on the legal system here. Till yesterday, everything collapsed when I went and saw and met Rera and thier legal advisers there. I met many people like...
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    RERA - Chief Justice of Dubai Real Estate Court confirms 30% of Paid Amount

    BS, I went to Rera to confirm this yesterday and they told me that it is 30 pct of monies paid if the property is paid upto 30 pct in full. Then he went on to say that the contract must be cancelled by the developer not the buyer. And then he said that it is nearly impossible to get teh big...
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    Defaulting mortgage implications

    I am not sure if it is good news anymore. With the property prices spiralling down like there is no tomorrow and with having a significant negative equity; its not in my interest to get the property. I wouldnt be able to rent out to cover mortgage, nor live with 10% interest rates...
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    Defaulting mortgage implications

    I have found out that the project is not delayed, it is on time for Jun 30th, 09' delivery. In fact it is visibly 80% + completed, although the developer is not giving any numbers. The bank says it is only %30 complete.
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    Defaulting mortgage implications

    I am pretty much in the same situation, but not been able to get a clear answer yet. The lawyers in this country are mostly corporate lawyers (clueless on how to protect consumers). Most of the ones I have talked to advise "wait and see" approach or to consider fleeing to home country which has...
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    Can you smell the recovery? I am confused...

    I am not really sure what to say, but I am usually not to0 upbeat about market coming back in Dubai with all the damages that we have seen. And espcially the with bad debt/mortgage situation on the horizon....But then, fundamentally, a bad mortgage situation woudl only realize if the market...
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    Mortgage Defaults - Double Hit

    Seems like mortgage defaults will be coming soon and hitting the market hard, espeically for those in double whammy!! AGREE OR NOT? What will most of expatriates do when faced with this situation described below? :confused:There is no bankruptcy protection here, only Debtor's prison...
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    Who to blame for the current downturn?

    NO REGULATIONS is to blame for the downturn. Because investors + end users have no protection, while all the big whig developers whom speculatated the most ARE NOW SITTING ON LOADS OF INVESTORS + HARDWORKING END USERS DOWNPAYMENTs. Funny how they announce share buybacks, then watch to see if...
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    Vote of investor confidence

    I WOULD LIKE TO KNOW HOW MANY ON THIS FORUM WILL INVEST AGAIN IN DUBAI IN THE FUTURE Just reply YES or NO with reason.
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    2009 Prediction

    What about properties in the northern emirates? Like RAK, UAQ etc. I have one on UAQ Marina, like ranches but on the water, which is 70% complete and delivery is suppose to be on June 2009. Thinking of selling it? Cuz i feel that if i wait till delivery, the it will be negative equity, plus...
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    Jobseekers coming to dubai to flee crunch

    exactly, and that 1.2 million is mostly coming from the hourly, non-salaried, bums etc... And also don't forget Monster alone boasts about 1 million jobs. And as you may heard Obama has planned to create 2.5m jobs... and i am 200% confident he will do it. All he has to do is announce...
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    Jobseekers coming to dubai to flee crunch

    Jobs in the U.S are as strong as always. I am from here and know tons of people there. I know new college grads landing 70K+ USD/year jobs left and right. People are opening new businesses every day. What you hear in the news form the U.S is not average; there there is a system and huge sub...
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    Dubai Bubble Bursts

    I have a concern. I notice many people on this forum, typciall the VERY VERY PRO Dubai ones refer to Dubai as if it is a person. For example, Dubai shall recover, it wil come of its misery... etc etc et.. What I always wonder is who is that DUBAI that is running the show. It is simply the...
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    Correction or Crash?

    I think people don't get in thier heads that the problem is not just speculators and flippers. The people who are happy are saying, dont worry things will come back have made thier money already or bought early on when things were very low. So they have very much little to worry about. The issue...
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    Correction or Crash?

    The U.S property market is still holding up, havent heard any 50% drops like here. Yes maybe in the stock market, but then that is the stock market. Realestate in other countries stay flat and or loose marginally, not what we here...
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    Correction or Crash?

    I think it is too much wishful thinking. Right now, the situation on the verge of scary and govt needs to step in to save the market and investors, not the fat cats and companies. Currently they are busy only doing that. Once they are done streamlining or whatever they are calling, they should...
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    Alabbar stresses unity

    I think after Alabbars comments today, I expect project shelving's coming up. I wonder what's the clause for the investor if emaar shelves thier projects....anyone knows?
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    No extensions or refunds from emaar

    yep that is exactly what has happened. Basically the rich got richer, some of middle classers trying to be rich made it, some got taken for a ride... and the poor bascially got screwed. Make no mistake, now that era is over and all the theft is over with...the REAL property market of dubai will...
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