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True.... but that part of the world seems to attract more than its fair share of crap developers, like a magnet. What's more, developers seem be taking advantage of an evolving legal structure and operating with impunity. Even when the legal structure evolves leaves much to be desired.

050 Mr. Shah: Wrong thread - but here's another forum where your project was discussed. You may want to post the query there too - although it hasn't been active since Oct 19, 2008. It seems that an escrow account had been set up (at least judging from the brochures posted online) so in...

I think there are lots of people that would be thrilled just to get out at their original investment levels - oppty cost etc. aside. Others would be happy getting the unit, they purchased, in a reasonable period of time - without any surprise increases in price etc. Neither side seems likely...

Law 9 Is it just me? Or does anyone else think this new law is yet another nail in the investors coffin / another loophole for the crooked developers? Specifically - this clause: "If the developer has not been able to start construction “without any negligence or omission on the developer’s...

Just to follow up on my comment above: Even if you cancel the purchase (at your initiation, or the developers),make sure you don't give up your rights, before actually collecting the refund in full. Take a look at the thread below. #PROJECT-Umm Al Quwain: AL SALAM CITY - Page 41 -...

Artistic: Definitely from a price standpoint - your purchase price sounds like a no-brainer. Too bad none of us took the regulatory (or lack thereof) risk into account. Sounds like since you've paid the 50%, and there is no way for them to come after you for the remainder until handover -...

I don't know much about UAQ & this project - but can comment on the following; RERA (Real Estate Regulatory Authority) is limited to Dubai. ARRA (Ajman Real Estate Regulatory Authority) covers Ajman. RAK (gave some powers to RAK Investment Authority) There may be others. They are talking...

Laurence: I don't know anything about UAQ - or the project you mention. Having said that, pls take a look at the following link. There seems to be an active discussion - including about The First Group, Emirates Sunland. #PROJECT-Umm Al Quwain: WHITE BAY - Page 3 - SkyscraperCity Goodluck...

The link below is dated, and not extensive; UAE Real Estate Update: Ajman introduces new property laws, Clyde & Co international law firm Alternatively - use the contact info for ARRA (in Ajman) to call and ask - what the proposed cancellation rules are. :: ARRA ::

AjmanInvestor: I haven't seen a copy of the new Ajman Laws - but there is some provision there that developers are counting on - that will allow them to forfeit more than whatever is specified in your contract. As a result, of this law, or because of their own cash flow difficulties - some...

To add to the above message; In my case - with regards to cancellation the developer (Sweethomes) - is pointing to a provision in the new Ajman ARRA law, that will allow them to retain 30% of the purchase price. They do this by "not" accepting/processing cancellations now. My contract actually...

"Abu Dhabi bails out its neighbour. What will it ask in return?" An article from Zawya, originally from The Economist "Abu Dhabi bails out its neighbour. What will it ask in return?" The outstretched palm

Thank you for the link - "Names for large numbers". Very nice reading. Never realized that the European terminology for an American Trillion (10 raised to the power 12)....is "Billion".....or for that matter that any discrepancy existed in the nomenclature.

Strata Law Agree it will certainly be a positive development for all involved - the sooner the law passes. See the attached (Gulf News, Feb 5th 09) - residents barred from their own parking lot. Gulfnews: Service charge plays the villain at JBR An excerpt: "The Strata Law due to...

Value buys for $100K - finished properties ....of course, for those of you living there employed, and paying rent anyway - it may be compelling. For non resident investors, I would still urge caution: - Flip flop on laws. As a non resident buyer, there are other countries that are...

(2 of 3). The third part may not be relevant....to this thread. YouTube - THE ORACLE Feb 13 2009 2of3 Max Keiser 's BBC show

Here's one - from the BBC show "The Oracle" - ran on the Feb 13th. YouTube - Peter Schiff 2/13/09 - Oracle with Max Keiser [Part 1] There are 2 parts in all. They have a satirical approach - which may mask the seriousness of the issues to the casual observer.

TommyC: My mistake, thx for pointing out. At $91B Annual revenue = it would take 361 years to accumulate 33T. That's without subtracting any extraction, marketing costs and assuming revenue is not being spent on anything else. The Abu Dhabi royals / sovereign fund may be big - but I doubt it...

Here's an article from the WSJ - quoting the fashion editor of Vogue - Anna Wintour - referring to a new term..... "too Dubai". I suppose it was like saying you've been Shanghaied, or one's job was Bangalored. Anyway, when things are not looking good, it is fashionable to pile on...

Am Ok with the satirical element of it, but for the casual watcher - not sure if the show gives them a true picture of the liquidity/confidence issue on the ground in Dubai. At least on the Dubai issue - there was no depth - instead of raising the real issues like - need for law...