WARNING- get out before you get in

[revolutionary]

Jonwell

Anyone who puts an ounce of effort into analysing the Dubai market does realise that it is both related to oil because of the region but not related to its own oil reserves which are rapidly depleting.

There is plenty of money in the region due to the oil which attracts business. As someone who is working in Saudi right now, I can understand the attractions of Dubai as you cannot attract and retain talent to the oppression of Saudi. The far more liberal and diverse Dubai provides an attractive base for anyone wanting to build a long term business in the Middle East. Qatar and Bahrain have the oil money but Dubai has the mass now (and available office and residential space) to be the leading contender for any new middle east base. Having Abu Dhabi a commutable drive away isn't such a bad thing either. In fact the Dubai marina area is attracting many residents working in Abu Dhabi as well as those coming from old Dubai and newcomers.

I'm comfortable with my investment as it wasn't an investment in making money rather than one in the future. I could easily have sold during the boom but found the excitement of a real investment far more appealing than shares that would have halved in value anyway over the same period. What I didn't do was to buy in the boom period since the prices were ridiculous for bits of paper of future promises in second-rate locations.

 

[Small M]

When I read Jonwels post it brings a smile on my face, too little knowledge or just deliberately winding people up. So either he has a bigger smile or he just doesn't know.

CASH IS KING and there is plenty of that around Dubai

 

[jags]

i have been reading the post of this person J for long time.the basic thing to get out somebody has to get in.what is his advice for them....how will they get out.:hmmmm2:

 

[MarianL]

i have been reading the post of this person J for long time.the basic thing to get out somebody has to get in.what is his advice for them....how will they get out.:hmmmm2:

very good point jags! :top:

 

[jonwell]

laugh as much as you all like but nothing far from the truth today i was talking to investors in dubai, yes i do have a few crazy friends who still own dying business there, but any way as i have learnt a villa priced at $4 million dollars is now available for $2 million dollars and a famous footballer is loosing $70000. dollars a month on his 3 villas and also to make it worse a car racing driver is loosing $100,000 dollars A WEEK.

the company who sends people to other countries for labour where there is labour shortage is no long wishes to do so,

you talk about DUBAI is so modern than saudi arabia well people from countries like india and pakistan have had tens of thousands of workers who have arrived in dubai and dubai has not paid any of them.

i will tell you what modern dubai is, it's a place where people have been shipped in by other countries through rougue agencies and men have put up construction work without health and safety and long hours have been given to them with less time to themselves so when someone says DUBAI IS THE DREAM it's a nightmare for those who have suffered inthe hands of these people and their passport taken off them by the employer and they have always been threatened, there are more young child prostitutes shipped to dubai as for maids but used for other sexual purposes... it's shame on those you call it a dream.

nearly 500 women were shipped every month from poor countries for this sort of work nad you call it modern.

i have been to dubai and spoken to workers so many times, they are not even allowed to go where tourists are because of the clothes they wearing...dubai i can say offers slavery and there's plenty there going on.

Construction workers haven't been paid and do you know how hard it is to work in really hot weather...then they don't get paid.

if you don't believe go and ask a worker, maybe your apartment is built upon slave labour,
you can all laugh but anyone who has value left should sell and get out.


NOW FOR THE REAL THING:
DUBAI'S property crash i would say has just began after it's 6 year growth, property prices are coming down by 6% pluss every month and if you live there you will see many places incomplete i really thing the average investor should come out of dubai and believe me it's only a dream. there's nothing to be part of and allways remember that when you bought in any investment you should leave the emotional side out of it.

there are as many as 65% who are british orgins who own a slice of this and the numbers are falling rapidly.
celelbs who bought huge villas and pads are selling and the clever ones have sold.

 

[jonwell]

if you need to get out you must make your investment attractive drop your price by £10k or so below the market price and i am sure you find a buyer within 3 month period but your price drop amount should be more than the rate of decline.

suppose the rate of deline is 6 percent per month just multiply by 3 months and add another 6% so in total a drop of 24 % and your out....ouch i mean should have really got out in 2008.

if you do decide that you want to ride the wave then expect a total decline of no less than 65%. but you have to remember rents will drop down as desprate landlord try to attract tenants to their shoe boxes... i call them shoe boxes because that's what they are.

i do try to aim to only post here on monday's and thursdays so forgive me if i reply late....

god bless you all.....

 

[jags]

is this man doing phd degree in dubai property crash.or he thinks himself some kiind of massiha or saviour who is there with a lifeboat.he doesn't seem to have any interest in Dubai. why doesn't he leave all the matured adults in this forum to make their own decisions good or bad and now move to some other part of the world with his unique knowlege of property investments.we have been enlighten greatly and now other parts of the world needs benefit of his great investment strategy.please give us a break.:boring:

 

[jonwell]

hey nobody ask you to reply on my thread but there again ure welcome to your opinion, and no i am not a saviour i wouldn't want to be it's hard to save a ship that is sinking.
by the way this thread is on dubai so i really can't write any thing about any other country plus i'm loving it.... every bit of it....lol

any thing that i have said there's the internet to prove that property is coming down and very fast.... ouch it must really hurt if you own it, i mean well all that wealth lost by being emotionally attached.

 

[jonwell]

SMALL M
hi what does small m mean does it mean small mind, or does it mean SMALL man, or let me guess does it mean SMALL magit, well what ever it means i guess your small in any way, small thinking is what you have and that's why your having a small profit for a small man....
sorry no profit i remember your a dubai investor well in that case your large M meaning large loser man

 

[jags]

go on preacher go on until there is no one to listen to you and you are left alone on this thread. initially it was helarious but now atleast i am bored to death and out. are there anyone left.bye bye.....:boring::flybye:

 

[jonwell]

there is no one preaching,
hey i just write my opinion if you like good if you don't then buzz of:reddy:
but what is your problem your preaching and i have put facts down what have you said other than critism about my opinion.

i asked you to detail why should investors hold on to dubai and if new investors should buy in to dubai... what's your opinion..
if you got one.... say it on here we can all look what jags is all about:reddy:

 

[kauser]

there is no one preaching,
hey i just write my opinion if you like good if you don't then buzz of:reddy:
but what is your problem your preaching and i have put facts down what have you said other than critism about my opinion.

i asked you to detail why should investors hold on to dubai and if new investors should buy in to dubai... what's your opinion..
if you got one.... say it on here we can all look what jags is all about:reddy:

Hello Jonwell,
You are entitled to your opinion as is everyone else on this forum, but you seem to go on & on & on about it. If you have sold your property & have got out at the right time then good for you! Why are you hanging around this forum ridiculing investors who have not followed your path? Your time would be better spent elsewhere where people appreciate your comments.

kauser

 

[vishal73]

Hi,will not any thing about other points but regarding construction workers what you have said is not all correct. Its not that bad here. You know there is no construction activities between 12:00 to 3:00pm at peak summer months i.e July and August. And regarding safety, all possible safety measures are taken that is why casualities are very less compared to the construction work happening here.

 

[Small M]

SMALL M
hi what does small m mean does it mean small mind, or does it mean SMALL man, or let me guess does it mean SMALL magit, well what ever it means i guess your small in any way, small thinking is what you have and that's why your having a small profit for a small man....
sorry no profit i remember your a dubai investor well in that case your large M meaning large loser man

Whatever man, think and say what you want, you make me laugh. My investments in the UAE have been good and still are good. Even if they come down another 50% I do not worry. People need a place to stay and will always rent.

Now go back and be an enviromentalist or some other fool and leave us slave profiters alone :reddy:

 

[jonwell]

listen you should ashamed if you had any dignity, this is how much your brain works, your on my thread and making a fool off yourselves.

i am here to stay now that i am here... my thread if you read it is to show people who looking to invest in dubai to think twice, and what investor are you who thinks that if his investment comes down by 50% it makes no difference, off course it does dummy you halved your wealth... i think you need an idiots guide to investing... make me think what kind of landlord you and some others on this thread are.

vishal... your comments i have read but you can't deny that slave labour isn't there and if your a labourer then i bet you don't have your passport on you and is kept by the authorities, please don't lie your only upsetting your friends in india.

i have to trade so see you later...

 

[jonwell]

Kauser
again you haven't read my title on the thread it is only for the purpose to stop people buying in to dubai.

i am not telling any lies... i don't care if the market drops in dubai i am not the one effecting it it's on a downward path... read the papers, all in the media.

i am simply telling any new investor to stay a way...BESIDES WHAT I SAID IS ON THE TIP OF THE ICE BERG..

WAIT TO SEE THE FACTS THAT I WILL PREVAIL....

AND SEE THEN SEE WHO SHOULD BE ON THIS FORUM....

 

[vishal73]

Yes Jon.well, I think you are not well. :reddyls. dont drop youir pants here.

Anyway,I am not denying that labourers are poorly paid here and they have to work hard in hot climate. But they are no way treated like slave. And if company keeps their passport with them, whats wrong in it.I feel their passports are more secure this way.And moreover they are free to resign and go anytime.

And you need not comment whether I am a labourer or a Engineer, whether I have my passport or not. Just talk what you are supposed to do on this forum. And dont bother about my friends in India or in Dubai. Just watch out your money otherwise may loose the way you lost earlier in Dubai.

 

[jonwell]

Yes Jon.well, I think you are not well. :reddyls. dont drop youir pants here.

Anyway,I am not denying that labourers are poorly paid here and they have to work hard in hot climate. But they are no way treated like slave. And if company keeps their passport with them, whats wrong in it.I feel their passports are more secure this way.And moreover they are free to resign and go anytime.

And you need not comment whether I am a labourer or a Engineer, whether I have my passport or not. Just talk what you are supposed to do on this forum. And dont bother about my friends in India or in Dubai. Just watch out your money otherwise may loose the way you lost earlier in Dubai.

VISHAL, i am glad your not denying that labourers are poorly paid, when you say that you feel there is nothing wrong in a country as dubai holding on to peoples passport, well first it is not the property of the government of dubai it soley belong to the country of passport issue, secondly your a fool for saying that it is safe, you idiot you know that is not true, it is kept by way of making sure the employee responds to the demands of the employer.

your nothing but a shame for your country men, which ever that might be, it's people like you who introduce slave labour for you own pocket.

your right i don't need to comment whether your a labourer or an engineer, to me your no more than a slave trader...
i didn't loose out in dubai a porfit of any size is a profit nobody can pridect the top or bottom i came out and i soon will come out of my next venture and yes the price will probably carry on going up in my current venture but i am happy i have made what i wanted.

every investor should always go in to investment knowing how much they would like to make and then quit.. be sure of your guidelines and stick to them.

Vishal i think you have got the message i might be an investor but i do have a mouth on me as well and in future you want to come on my thread you show me respect otherwise you will find i am chasing you in every forum and thread like a dubai employer.... now you catch my drift.. you better have...

 

[MarianL]

neither you or anyone will take money when they die, the only thing you guys are adding to dubai is greater debt that you have borrowed if you were that concerned about zero's then why you charging rent from people then, simply your taking money from the people who can't afford to buy.

the only value your adding to dubai is a number of debtors which is increasing and at an alarming rate...

there will never be any reason to buy in dubai and you all know it so why not do the sensible thing and sell. no point hanging yourself to debt. oh by the way there is more bad bad news on dubai i will let you know on thursday not today i will let you wonder and most of all you all will be shocked...

Just wondered what the shocking news about Dubai was today?

 

[jonwell]

marianL

Due to down turn in the property market corporate tenants on the lookout for new premises in Dubai have already started rejecting the rental rates that are being offered now, they believe, and with a good deal of justification on their part, that these are just the exploratory rates being put up by the landlords more in hope than expectation, and that hard bargaining could bring them down even further. Market watchers know that the pace has been very slow for the leasing programmes on recently completed commercial towers in Business Bay and Jumeirah Lakes Towers.

even on the business front there are signs that there is competition going on between old let towers holding on to their existing tenants and new towers coming to the end of completion reducing their rent rates to attract tenant from old building towers.

NOW THE SHOCK..Around 7 developers have already filed for project cancellations, but the uppermost question on everyone’s mind is, ‘How will the investors be compensated?’

The deck of cards is going to come down — I worry about people who bought into off-plan projects which are not even under construction, never mind those under construction.However, investors and lawyers doubt whether the funds developers collected in the past have indeed ended up where they should have.


SOME of the CURRENT INVESTORS have every reason to be concerned when they don’t see much activity on-site and developers refuse to return the payments made.
There are a lot of unanswered questions, for example, developments that have sort of started — how do you define that by putting a crane and digging a few holes?


The bankruptcy law is similar to other parts of the world — secured, unsecured assets, etc. will be liquidated. But, it hasn’t been tried and tested here yet. We’ll see what happens as we go through the next twelve months
my next post here will be soon to give you more info...