# Palm Jebel ali question



## meade (Jan 18, 2012)

Dear friends and colleages,

With regard to the above named developement can anyone give me any indication of the status of the project.I am also aware that virtually all work has in fact stopped so i wouldl ike an opinion as to the up to date status and whether anyone believes it will actually be finished (and the other man made islands,ie the world,universe etc,etc).

Also considering that the actual future of the dubai economy and the overall reputational integrity of the entire emirate which is clearly focused and undeniablly depending on the foreign influx of tourists to sustain its now depleting oil reserves ,do the government have the conviction to finnish these iconic projects????

kind regards

m


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## Mr Rossi (May 16, 2009)

Seriously, I would give up looking to find a angle on property out here. It's over, to be filed along side everything from the gold rush to the dot com bubble.

Get yourself a nice buy to let in Zone 3-4 in London, if you want to invest in property. Much more stable and you're not at the mercy of a lacking legal system. Especially where foreigners are concerned.


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## meade (Jan 18, 2012)

Mr Rossi said:


> Seriously, I would give up looking to find a angle on property out here. It's over, to be filed along side everything from the gold rush to the dot com bubble.
> 
> Get yourself a nice buy to let in Zone 3-4 in London, if you want to invest in property. Much more stable and you're not at the mercy of a lacking legal system. Especially where foreigners are concerned.


Dear mr Rossi,

thank you kindly for your comments very much appreciated .However ,i not just looking an investment vehical im looking for a lifestyle as well.Do you think also that the other pipeline projects,ie the world,the universe and dubai land wiil ever come to being.....That would be important to me to hear what you think.....

m


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## Mr Rossi (May 16, 2009)

meade said:


> o you think also that the other pipeline projects,ie the world,the universe and dubai land wiil ever come to being.....


No, not ever and the only "lifestyle" you'll get by buying a property here is a lot of heartache, worry and misery. If you want to live the sun, get a job, not a house.


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## NAUAE (Jun 4, 2010)

All of the projects that you mentioned are pretty much dead in the water with no signs of reappearing anytime soon. I wouldn't touch them with a barge pole at this stage.

I would agree with the no investment advice which I follow for myself. But if you really have to invest and want some sort of return; invest in established areas which are popular with expats i.e. Greens, Meadows, some parts of Marina etc. However, only do this if you are living here and really want to plonk your money down somewhere instead of sending it home. Its better to get a job to live in the sun as Rossi said rather than buy something here_ (Which doesnt give you the right of abode btw)_


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## meade (Jan 18, 2012)

NAUAE said:


> All of the projects that you mentioned are pretty much dead in the water with no signs of reappearing anytime soon. I wouldn't touch them with a barge pole at this stage.
> 
> I would agree with the no investment advice which I follow for myself. But if you really have to invest and want some sort of return; invest in established areas which are popular with expats i.e. Greens, Meadows, some parts of Marina etc. However, only do this if you are living here and really want to plonk your money down somewhere instead of sending it home. Its better to get a job to live in the sun as Rossi said rather than buy something here_ (Which doesnt give you the right of abode btw)_


Dear Nauae,

Evidentally things are alot worse than some people are letting on and it is of note that donald trump has pulled the plug on his signature hotel on the palm saying"it'll never happen,any time soon".Moreover, is this not a major reputaional blow for the goverment,given the amount of negative publicity that has followed and inter alia what is the big plan now???Is it all hyperbole?????????

kind regards

m


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## Mr Rossi (May 16, 2009)

1 - Are you really from Ireland?

2 - Are you looking to buy a house?


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## meade (Jan 18, 2012)

Mr Rossi said:


> 1 - Are you really from Ireland?
> 
> 2 - Are you looking to buy a house?


Yes 100% irish and im looking to buy in dubai (althgough im having serious reservations about it now)


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## fcjb1970 (Apr 30, 2010)

meade said:


> im looking to buy in dubai


1. Why?


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## basc (May 18, 2011)

meade said:


> Yes 100% irish and im looking to buy in dubai (althgough im having serious reservations about it now)


Why do you want to buy in Dubai? To get anything in a decent area, with good quality workmanship and well-maintained surrounds is not going to be cheap. If you are after the sunny lifestyle, then buy in the Mediterranean. You'll have language issues - but at least it's the same EU law and with an EU passport you have a right of residence. 

If you are after the tax free lifestyle, and are a person of high-worth (I didn't think there were any left in Ireland any more!) then it might be worth your while looking in Dubai - but not any development that has been stalled for years, look in established areas that will get you a good rental yield if you ever choose not to live here in the future. Don't buy off plan!


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## TallyHo (Aug 21, 2011)

You do not have the writing style of any Irishman I've met. If anything your writing is more similar to a South Asian with a half decent grasp of correct English idioms and grammar. 

Owning property in Dubai is very expensive. Interest rates are higher and you also need to fork out substantial maintenance fees. 

If I wanted to own the apartment I live in the mortage would be just about the same as the rent but on top of it I would have to pay an additional 30-35% in maintenance fees. When you combine the maintenace fee to the interest on the mortgage, owning a property in Dubai doesn't save that much more money over renting. Then there's something to be said about not being tied to any property in Dubai so I'm free to wash my hand of the place anytime I want. That alone is worth the rent. 




meade said:


> Yes 100% irish and im looking to buy in dubai (althgough im having serious reservations about it now)


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## Mr Rossi (May 16, 2009)

TallyHo said:


> You do not have the writing style of any Irishman I've met.


Which was my suspicion. I'm guessing we're helping someone out with a collage essay here or providing the facts for a 419 type back story.


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## meade (Jan 18, 2012)

basc said:


> Why do you want to buy in Dubai? To get anything in a decent area, with good quality workmanship and well-maintained surrounds is not going to be cheap. If you are after the sunny lifestyle, then buy in the Mediterranean. You'll have language issues - but at least it's the same EU law and with an EU passport you have a right of residence.
> 
> If you are after the tax free lifestyle, and are a person of high-worth (I didn't think there were any left in Ireland any more!) then it might be worth your while looking in Dubai - but not any development that has been stalled for years, look in established areas that will get you a good rental yield if you ever choose not to live here in the future. Don't buy off plan!


Dear Basc,
you have touched on a few points ,that no one else has during proably over 50 post's by now.My curiousity of the aforementioned projects was actaully to discover wherther anyone believes these projects will be finnished,ever?? ie Dubai land , Palm jebel Ali , the world...If i do buy,if that is, i would only do if there was a real expecttion that these projects wouldbe finnished (albeit in the distant)future and in pasrticular Dubai Land as it alone has the chance,abeit slim to resurrect the failng housing bust...Of course im aware of the scale and size of this project but given the world wide renoun suuroundind Disney Land in Florida ,i think if dubai can pull this off......they will prosper.......What do you think???


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## fcjb1970 (Apr 30, 2010)

meade said:


> Dear Mr Rossi,
> 
> Im indeed from ireland,born and bred on the antrin coast (cushendal).I am one of the most successfull property developers in ireland and i have a master of buisness degree administration (MBA) from one of the finest colleges on earth.(london buiness school) so evidently your a very swrewd and astute man and you are right ,i am investigating dubai carefully as i am a high worth inviduall ,you see ,this is what is taught in buiness schools....Join,contribute and probe online forums as a valuble source of inteligence because as im sure you know,it is very hard to read through the crap...you know ireland is full of leprechans and all that,,i need ti find out how many there are in the UAE before they take my pot of gold!!I hear guinnesss is all over dubai now.....you know the black stuff so i have to be carefull...
> 
> kind regards


Interesting to know that you can graduate from a top school in the UK with a moderate grasp of the English language and almost no English grammar skills. Not to mention an inability to use a simple spell checker on a web form.


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## Gavtek (Aug 23, 2009)

Internet forums are a good source of pictures of cats with funny captions, not sound business intelligence.

Based on your grasp of written English, I would be astounded if you graduaded primary school, let alone "buiness" school.


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## meade (Jan 18, 2012)

fcjb1970 said:


> Interesting to know that you can graduate from a top school in the UK with a moderate grasp of the English language and almost no English grammar skills. Not to mention an inability to use a simple spell checker on a web form.[/QUOTE
> 
> An interesting point my friend...you see it would be rude of me to push the forum to hard as it would prabably implode..I only need the information that i need and unfortunately the ordinary person would not understand the complex series of indicators that are required in money decisions and of course it is difficult not to push harder but it is imperative that i get information from everyone regardless of intelect,and that just means getting the questions out there...You know if i were to buy this information ,demagraphically i mean , i was quoted nearly $75,000 for the right ,and you know of course how tight the irish are. But anyhow,,enough about that ,how is the Chicago Spire coming on???????I konw an irishman G Kellerher owes billions to investors after the project collapsed in disgrace....You were not one of them ,were you????


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