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It's a complete joke. The crash showed the true colors of the laws and backdrop of the UAE. It's a high risk game... how many people were burned and lost money? The villa market might have a chance, but how many apartments are yet to be built? Thousands upon thousands... Insiders? Ha...

Tough call.... I have similar situation. Walked on it... Two apartments, slightly less of a potential loss but still huge and paid down 50% to a developer in India and Pakistan. No contact, no recourse. Be throwing good money after bad....Sad and infuriating ending, but you have to make a...

The office is now delayed opening until March 6th. Do you have any info regarding the Dunes people? I know they have another company called Hawt energy. I sincerely hope they can account for our money. I have a significant amount invested with them.

Be very careful in Asia and the places you mentioned.... bubble forming there, just like it was here. Low interest rates etc... HK gov't just came out with new changes to try and curb increases. If you want to go against the masses and try and buy low, Dubai is close to very good value now...

It's difficult, but i think at least Sports city has a chance to still complete and be a successful development. Many others as in Ajman, etc, will never work out. I would continue and like said, it's better to follow through and complete a building than fold and have nothing but lawsuits and...

I was there recently and things are progressing albiet quite slowly * no surprise. The cricket match is over the next couple weeks and people will be able to see some of the development. The plots are being fenced in but I believe this is a directive from the master developer. I am still waiting...

Try and reschedule the payments. Is the building being constructed? If not, you shouldn't need to make further payments until they are well under way. I would try and hang on if you can.... Good luck

The Dunes Residences in Dubai Sports City from Dunes properties, has offered to reduce approx 12% and pass on savings from lowered building costs to the investors. It's really a good way to try and renew faith and confidence in a project.

A race to the bottom.....this is very sad.

Keep in mind people, if you visit DSC on a Friday, there is likely a good chance that nothing is happening....It just might be their one and only day off.

I've been through Sports City numerous times and as recent as last week. Some developers are coming along well, most are at the piling and shoring or just starting foundations....but there are numerous plots that are nothing more than sand parking lots. Most seem to be surrounding the canal to...

Doubtful it would sell. A mortgage is unlikely available, so you would need a cash buyer. The price is not unreasonable, but it needs to be completed, then banks will have a closer look and lend against something that has been build. For now, I would make the payment and rent or sell on...

Sash2 is obviously on a downward spiral and is bringing all his frustrations to the forum. I feel bad for people who are desperate to sell and who might lose tremendous amounts of money. I might too if things really implode, but what can you do? It was a wild game and now fundamentals are coming...

You have to ask? Rent it

I would agree with that.....rents did get completely out of control, so a 30% adjustment is not unreasonable. I would think 90-100k for a nice 1 bed would be more realistic. Villas should still be in demand as they are very few coming on to the market, however, 350k seems high for a larger 4-5...

Sash, you sadly spew all these negative preditions and say you told people to get out, predicting a correction....did you not get burned from some fly by night operation in Ajman? Did you take your own advice?? You're rental predictions are meaningless, you might be right, but very likely...

Yes, the buyer would be liable to the bank for the mortgage amount. Pulling out is not an option.

Old story, it's been played out before and it'll happen again. Market is re-adjusting and the strong will survive. Try Hong Kong 97 and 03, it will bounce back at some point but the entire world is being affected in this situation, which makes it unique. It's a world wide flushing of excess and...

I have seen that site and it's obviously very concerning. I was told via Eden Gardens directly that they will finish the project and they also outlined all the reasons for the delay. I am taking a wait and see. I would assume the funds will be protected in the escrow account, if things go wrong...

I'm in the same position with two apartments, although I didn't pay way back in 06. The good news for you is that you likely paid very little for a studio, however the delays that you mentioned are basically correct. My understanding is that road access and movement within the area caused...