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Dubai issues 88,423 residency visas in Jan Only!

Discussion in 'Dubai property' started by Wannaberich, Feb 11, 2009.

  1. Wannaberich

    Wannaberich New Member

  2. sasherwani2

    sasherwani2 New Member

    Malls are full of shoppers. Restaurants overbooked. Airlines increasing airfares. Dubai offering more jobs than ever. Property prices doubled. Rents trippled. All projects on schedule. What recession ? All's good.

    I bet the growth figures for February will be 300,000! I love the local media :)
     
  3. PropGuy

    PropGuy New Member

    The problem is whenever there is bad news about Dubai it is true, on the other hand, whenever there is good news it is govt propaganda. So good or bad doesn't matter, it is always bad :rolleyes:
     
  4. Hussein Awadh

    Hussein Awadh New Member

    Crisis? What Crisis!!? (Yet Again)

    Why are people continuously blaming the crisis?? We're in a liquidity crisis people!!! Nothing more! Prices are dropping because demand is Dropping! The recession is not affecting that badly!! People still need to eat food, people still need petrol and people still need to phone other people!! The only issue with the market is the Stock Market (Because of companies with outstanding loans shutting down) and Banking!! (Not so many mortgages given due to liquidity)...

    Dubai is Crashing Oh No!!! Put your seat-belts on, because properties are getting built and prices of housing is getting cheaper... Doesn't that sound like it's getting better for the less fortunate people?? Doesn't that make this another Ideal location to start a new life?? Wow, I can pay less rent now than I used to when I first moved here 6 months ago!! Fantastic!!! (Personally I'm going to wait another couple of months) Take advantage of this so called "Crisis" people... Because once prices hit rock bottom they're gonna start going back up as quick as it did before...

    All that happened to Dubai was someone pushed a [PAUSE] and [RESET] button, soon they will press [PLAY] again...
     
  5. sasherwani2

    sasherwani2 New Member

    Define good news. With staggering amounts of layoffs, anyone with half a brain would "know" that the cancellation of visas will far exceed the number of residence visa issues. If the inflow is higher, why are the rents on a freefall? Anyhow, lets see how "February" turns out. I predict the outflows will be the highest starting July 09.

    I would be the first one to applaud Dubai and its "achievements" when it actually with sincerety tries to help the investors who have become a part of scams and frauds. Instead of giving the run-away developers a safe passage out of the country, these developers are thrown to the courts and forced to either payback the investors or finish their projects. Currently the investors who have been victims of this "organized crime" are labelled "investors with bad luck" by the RERA chief.

    Good news would be if Dubai starts to act a little like Abu Dhabi. Slightly less better news would be if Abu Dhabi decides to bailout Dubai but that wouldnt be a Dubai achievement anymore.
     
  6. sasherwani2

    sasherwani2 New Member


    Funny post.

    What about the investors who invested their life savings in supposed blue-chip projects and the project's developers are not building those projects anymore but keep asking for more money from the investors or else theyd cancel the contracts. I guess you havent invested a penny in this market.
     
  7. Hussein Awadh

    Hussein Awadh New Member

    No you're right I haven't invested, but what I meant by my post was that the crisis is only affecting those markets that required loans etc.

    The recession seems to only affect certain sectors here and if you haven't the unfortunate experience of investing in a horrible company you might not be in such a crisis situation.

    People who invested in Nakheel Palm Jumeirah back when it was still off-plan for Eg; are making tonnes of returns on their Garden Homes today, though not as much as before. Then again for someone like me who didn't invest in buying a home for my-self am only affected in the fact that I cannot take a loan for a new car, I'm just going to have to save up on my pennies. There are tonnes of people like me residing here.

    It will affect a lot of peoples lives of course in layoffs budgeting, etc; but I still feel that those who haven't had the horrible experience of investing their life savings, and losing it, will definately benefit, and I assure you those are the majority in this country.

    ****e happens and people have lost their life savings and investments etc; but let's not blow things out of proportion. The majority of those affected by the global slow-down are those who invested in bad investments or crooks of developers and those who got laid-off. (My heart goes to them as they were a lot of my collegues whom I dearly loved.)

    It's been a positive thing for me in that I can now find a cheaper 1 bedroom to rent for my wife and I closer to work.
     
  8. Brendan R

    Brendan R New Member

    this is not a liquidity crisis. It is now an insolvency crisis that will expose malinvestments (check malinvestments as defined byt the Austrian economics school of thought) on a global basis, not only Dubai. The problem in Dubai is compounded by a lack of regulation and clarity from the authorities.

    Unfortunately clarifying things could end up breaking the dream.

    These malinvestments need to be cleaned before we can start again on a stronger footing with a better regulatory framework.

    What I'm still trying to come to terms with is the stubbordness of governments in the world trying to keep afloat a system that has promoted artificial wealth.

    This is true for the US and Europe where emphasis is on getting people to keep on consuming blaming the current crisis for lack of confidence.

    No, the crisis we're in is the result of over consumption fed by very lax credit conditions. What we need now is more savings and a different attitude to consumption.

    Over time, this more rationale behaviour will reassert itself and malinvestments will be cleaned out.
     
  9. shazy

    shazy New Member

    It takes all sorts to make a world!! you sound so self centered. yes I am glad that you can afford to live better but spare a thought of those who did buy on loans and mortgages and now have no jobs!!
    or those who like me did invest not with *****y investors but people like damac and nakheel and others have with tameer and Emaar to mention as you say not bad investors, people like us put alot of hard earned money into these and now ReRa could not give a ***T!!!
    Yes if i were in your position i would thank god !!! but i would also feel for people who have been conned by developers i have also invested with sanalli and now expect to say good bye to that because you expect when you invest for them to go down as well as up but not just keep your money and run!!! with nothing left to show.:(
     
  10. Hussein Awadh

    Hussein Awadh New Member

    I do apologise for sounding self centered but I'm just painting a bigger picture. Not everyone is affected by this world crisis, and I used myself as an example.

    Of course I feel for those who got conned as it is totally unethical. You people worked hard for that money and to see it gone so easily with no return is absolutely horrific.

    I was only trying to paint a bigger picture.
     
  11. PropGuy

    PropGuy New Member

    Then why don't you invest yourself?
     
  12. Hussein Awadh

    Hussein Awadh New Member

    I am considering, actually.

    Look people I'm not defending bad developers, I'm not saying it's your fault for investing, and I'm not saying anything near 'I don't care about anyone'. All I'm saying is yes these are bad times, but let's try to push through it.

    Stay Positive :cool:
     
  13. PropGuy

    PropGuy New Member

    let us know when you have invested
     
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