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Good reason to invest in Dubai

Discussion in 'Dubai property' started by damien, Aug 16, 2006.

  1. damien

    damien New Member

    Dubai has long earned its reputation as a pre-eminent commercial center with an innovative, dynamic and entrepreneurial business culture.

    Strategically located at the crossroads of trade and commerce between East and West, Dubai is in an ideal position to service and access markets that span the Middle East, North and South Africa, the Indian Subcontinent and the CIS. Moreover, Dubai occupies a time zone that gives it an unparalleled advantage in connecting markets as disparate as the Far East and the USA. To leverage its strategic positioning Dubai has developed a world-class infrastructure, air connections and port facilities making it the most well-connected city in the region.

    Dubai is politically stable and has a forward-looking, responsive Government with a progressive, pro-business attitude and a highly developed commitment to the private sector. The business friendly regulations and highly favorable tax and customs framework have played a key role in attracting business investment from all over the world in practically every sphere of economic activity. Moreover, consistently strong economic indicators and a relatively low cost work environment have contributed to Dubai?s rapid development and prosperity.

    A modern, safe, multicultural city with state-of-the-art medical, education, entertainment, shopping and sports facilities, and a plethora of amenities that make for a very high quality of life, Dubai is a city of choice for the modern professional and an ideal location for multinationals to establish a regional presence.

    Thanks
    damien
     
  2. gohar

    gohar New Member

    Hi,

    I have 5BR Villa in Al Furjan Phase1 Dubai. The developer is Nakeel. I would like to sell if someone could kindly help and find a buyer for me asap. The details of my unit is below

    -Original price: 5487000 AED
    -Sale price: -5% premium
    -Plot Area:6963 sqft
    -BUA:5412 sqft
    -BEDROOM: 5
    -BATHROOMS: 5.5

    Alfurjan Phase1 construction is going ahead of schedule. You get 5BR for the price of 3BR.

    Please feel free to contact me @ 00447810125447 OR send me email @ gohar@consultant.com

    regards

    Gohar
     
  3. sasherwani2

    sasherwani2 New Member

    Very funny dude. I mean your kidding right? :confused:
     
  4. Wannaberich

    Wannaberich New Member

    I think Damien pretty much got it right.
    Tell me sasherwani,you obviously have very little regard,if not hatred for Dubai.
    You can only see the bad side whereas most other people have a far more balanced view.So question is,and a serious question,why the hell do you post on here?
     
  5. sasherwani2

    sasherwani2 New Member



    Three reasons!

    1) To get in touch with investors who have become a part of frauds in Dubai. Preferably belonging to the same projects as I did. I just got three valuble contacts today from this forum and I intend to meet with them tonight.

    2) To expose the corrupt practices in Dubai so the new investors are aware of the risks of investing in a place where laws change overnight. I've again been very successful and a lot of investors (off and on this forum) have thanked me for my advice. There was no monetary gain for me in it but Im just glad I was able to help.

    3) To get "news" that will not be available in local newspapers as they are "mostly" controlled.

    Hope this answers your query. Again just use the scroll bar on your right to skip my messages. What "the hell" interests you about my posts anyway?;)
     
    Last edited: Feb 15, 2009
  6. memo123

    memo123 New Member

    I thank you for every input

    I for one consider you as my spokesman , for you speak my mind and express my emotions as a victim of Dubai's fruad schemes, and you have the guts to do so . SO KEEP UP THE GOOD WORK .
     
  7. Wannaberich

    Wannaberich New Member

    Sasherwani why the hell didnt u say in the first place?!
    Now I understand why you are so bitter and twisted.You've been ripped off in Dubai.Jesus,I'd probably be just as bitter if that had happened to me.
    However,not everyone has had your misfortunate including alot of people using this forum.
    Dont try and bring everyone down to your depressive level just because not everyone has suffered like you have.
    As for using the scroll bar,well,you are trying to help people,and I am trying to give others here a balanced view of Dubai.Thats proving pretty difficult with your constant doom and gloom which is why I cant ignore your posts.
    Sorry.
     
  8. TommyC

    TommyC New Member

    Give us a break, alright. Balanced view, really? From what I hear from your increasings attacks on everything that doesn't talk about Dubai like it is heaven on earth simply works as to give us all an idea how slow the sales really are for you. So why don't we all just say everything is perfect and try to get more people into this pyramide scheme, be sure to keep track of my part of the commission!

    Please...

    This was the sales story I was told by _OTHER_ APPROVED real estate agents LAST SUMMER.
     
  9. georgihh

    georgihh New Member

    invest

    If the prices drop by another 15- 20% I will invest
    We are approaching the bottom and it is time to consider investment.
    550 – 600 per sqft for ready property is my target.
    Willing to spend 100k+$.
    Who says – no buyers?
     
  10. sasherwani2

    sasherwani2 New Member

    ahem..

    calm down will ya?

    I am not depressed at all. I did make "some" investments in Dubai but kept most of the valuable "eggs" out of this risky market. I knew the returns here were higher but the risks were much muCH higher. What I didnt know that this was a place where laws change overnight and you could be ripped off your entire investment.

    I suggest you challenge the information I provide. Attacking me wouldnt get you nowhere. Good luck !
     
  11. Ajmanprop

    Ajmanprop New Member

    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 friendlier to second home owners, visas, access to one's property etc. Nothing to stop say, a new law from being passed that bans foreign property owners from being landlords, or introduce some sort of expensive registration process etc.

    - I see a big squeeze taking place in the form of outrageous service charges - almost equivalent to rent on the properties. Number of reasons, why the service charge laws (strata/juristic person) won't get resolved anytime soon. I could be wrong but expect to see a lot of foot dragging on this issue.
     
  12. financier888

    financier888 New Member

    strata law

    There's no foot-dragging on the Strata Law - the rest of legal framework has been enacted and one bank here in Dubai is already set-up to accept Owners Association bank accounts.. RERA has also frozen the current charges and they cannot be raised. The sooner owners take over the management - the better the quality of your service and the lower cost. That party is over!! realisitcally, depending on the project - you are looking at AED 12 to AED 20 psf - again, this is just a range - it depends on the project and size of the common area. This is positive development and step in the right direction
     
  13. Wannaberich

    Wannaberich New Member

    Tommy C you're really not that bright are u.Had you read my posts properly you would have seen that I conceeded long ago Dubai was and is in a bad way.
    Plus its going to get worse.
    As for the commision.Well, If I lived in Dubai and worked in real estate then you may have had a point.However I dont.Sorry.
     
  14. Ajmanprop

    Ajmanprop New Member

    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 added regulations has not actually been ratified yet, meaning that residents are still at the mercy of the developer. Asking the Dubai Land Department and lawyers when ratification will happen draws a blank. "
     
  15. financier888

    financier888 New Member

    It will be ratified and the Dubai Islamic Bank will allow an Owners Association to open up an acct. (when the law is officially ratified, many more banks will provide this service) The owners should form their Association and become pro-active. The handwriting is on the wall for these management firms operated by the developer. Thanks for that article link. I hope those owners get organized and send them packing ASAP!! ironically, the building is named 'SHAMS" , sounds more like SHAM
     
  16. Gashead

    Gashead New Member


    LOL, so wrong on so many levels. Unless of course you're comparing sporting facilities, infrastructue and ease of business start ups etc. (in fact pretty much the entire contents of your post) with Botswana. Low cost work environment? What state of the art sporting facilities? Name one (exc. Ski Dubai which is certainly not state of the art if you are an experienced skier).

    Stop, you're killing me! :D
     
  17. MASHH

    MASHH New Member

    wasnt your property in al barraka??? thats what i recall ive never seen you nagging abt Emaar and to be honest i doubt Emaar does such thing as you can pull out if they do so as u have the right
     
  18. sasherwani2

    sasherwani2 New Member

    Read the thread about Warsan Estate - Termination letters on this forum and you will see the kind of treatment we, the investors, received from Emaar after we asked Emaar to give us an explanation on how/why they changed the location of the project.

    And yes I do have a property with Barakah too. The CEO is in "hiding" for 5 months now after stealing 1,400,000,000 from the investors. Thats a lot of zeros isnt it :)
     
    Last edited: Feb 17, 2009
  19. DelboyG

    DelboyG New Member

    It's sad that after advise to investors of choosing your developer wisely, you've found some of the best and the worst of the developer community, yet still ended up with the same results! Emaar, Nakheel etc. are not even covered by the Escow account laws & you stand zero chance against them in a court of law - that says something about the state of the laws here.

    Back to the the the thread tittle, some goods news for the owners: http://www.thenational.ae/article/20090217/NATIONAL/555432476/1133 too little, too late but at least a step in the right direction.
     
  20. Arshad Khan

    Arshad Khan New Member

    Interesting comments. One very important fact being overlooked. The crash in Dubai does not bear comparison to any other country in the world for one simple reason: 90% of people living in Dubai are not from there and therefore have no real commitment to the place aside from trying to make a quick buck. Therefore, unlike other world economies, Dubai is gonna take a lot longer to recover if it ever does get back to the so called "glory days". The other big problem of course is that the authorities remain in denial and i really do not see any signs of the powers that be coming out of their gilded palaces, confronting the harsh realities and taking concrete measures to prevent a total meltdown. Someone referred to the place as the world's biggest "Ponzi" scheme. I kind of see some truth in that.
     
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