# Buying property in Dubai



## turkeybill (Nov 25, 2008)

Hi Guys and Gals,

We are Bill & Tracey and we have recently visited Dubai on a fact finding tour regarding property purchase there. We have returned bewildered. (Ithink that is the saying). The amount of property being built is colossal and the areas one can live in equally confusing. Therefore, we have joined this forum with the hope that you ex-pats already living there can help us. We have spoke to many of the on-line property dealers and the consensus of opinion takes us down the Ajman road every time. We are told that this is still mainly desert and a long way from where we would like to be. We would like to be nearer the shopping malls of Dubai and with this in mind we are furnishing a few details below;

a) We would like to buy off plan with the aid of an investment payment plan.
b) We would like at the minimum a two bed appartment.
c) We are prepared to spend in the region of £125000.
d) We may spend more with the aid of a small mortgage.
e) With all the above in mind, we only want to live in our property Jan-March each year and would welcome some form of renting for the rest of the year but not vital.

It would be great to receive some advice and help from you seasoned pro's and look forward to hearing from anyone who can help. Thanks guys and,
best regards to you all.


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## Andy Capp (Oct 5, 2008)

Location, Location, Location......

If in Ajman, look at Corniche Tower, (it's finishing next year, so it's funded) it's also overlooking the sea, directly across the road from a few bars, but most of all it's nearly finished. So your money is relatively secure, also because of the location water and electricity is guaranteed (before the usual suspects shout about the problem at other locations within Ajman) it's walking distance to many decent (and cheap but un-licensed restaurants), it's also a hell of a lot quieter than Dubai with no where near as many "plastic people".

But I am biased....


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## turkeybill (Nov 25, 2008)

Andy Capp said:


> Location, Location, Location......
> 
> Thanks Andy for the reply. We did not mean to rule out Ajman completely. I think it will be as built up in years to come. Just everybody in the property world tells us it is very young in terms of infrastructure and yes, we have heard the worries regarding water and electricity supply. I take it you live in Ajman and know it well enough to comment? Do you live in the Corniche Tower? How far is this from the airport? What about shopping etc? It appears our favourite pastime of eating and drinking is catered for. Are these good places to meet people?
> 
> ...


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## Andy Capp (Oct 5, 2008)

Yes I do live in Ajman, but not in Corniche tower, it's not complete yet. Time from the airport? Dubai is do-able in less than an hour (time of day dependant, at 2 am it's less than 45 mins, at 7am it's 2 hours). Shopping, well that depends on what you want, we have Spinney's (including pork section) Carrefour etc. but if it's designer and luxury you want, you'll need to take a trip down the road. Good places to meet people? Hmmm, well I've met a lot here, and, as I've said before, they're genuine and not "plastic". After a number of years in Dubai that means a lot to me.

It's also significantly cheaper in all aspects.


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## turkeybill (Nov 25, 2008)

Hi Andy,

Could we talk on another medium such as Messenger. You obviously have a lot to tell me and I am prepared to listen. we too, don't suffer fools gladly. My address on messenger is xxxx Be great if you could join us there, if not, any other suggestion?
Regards


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## Andy Capp (Oct 5, 2008)

Take your email adressdown now bill.... I have it


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## Gaza (Sep 22, 2008)

I have to say it is a brave (or foolish) person who invests in property in Dubai at the moment. If you have money to burn and are not in it for the investment potential then by all means go ahead. However, if you are looking to turn in a profit I'd recommend doing a lot of reading about the current economic position in Dubai.


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## Elphaba (Jan 24, 2008)

turkeybill said:


> Hi Guys and Gals,
> 
> We are Bill & Tracey and we have recently visited Dubai on a fact finding tour regarding property purchase there. We have returned bewildered. (Ithink that is the saying). The amount of property being built is colossal and the areas one can live in equally confusing. Therefore, we have joined this forum with the hope that you ex-pats already living there can help us. We have spoke to many of the on-line property dealers and the consensus of opinion takes us down the Ajman road every time. We are told that this is still mainly desert and a long way from where we would like to be. We would like to be nearer the shopping malls of Dubai and with this in mind we are furnishing a few details below;
> 
> ...



Speaking a a finance/investment professional and one who has been living in Dubai for a few years...

Why do you want to buy a property in the UAE? Are you planning on moving here, or is it just as an investment?

Ajman is being touted as the new Dubai, but I understand that few if any of the new developments have any infrastructure, ie road access, water, electricity. There are good reasons why property in Ajman is so much cheaper than elsewhere. There are just a handful of hotels and bars, one main mall (I think) and it is not the tourist hot-spot, for good or bad, that Dubai is.

You would get little in Dubai for GBP 125k these days and certainly not a decent 2 bed apaprtment. You'd need more than a small mortgage for anywhere nice.

My advice - do not buy in the UAE right now. What these so-called online property people have not told you is that UAE property prices, and especially those in Dubai, are being hit by global financial problems and we are waiting for them to fall. Few places are seling at the moment and the offer price of even the most prestigious developments are said to have fallen by 20-30%.

Do yourself a favour and hold on to your pennies for the time being and wait until some time next year before considering any property purchases here.


-


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## Andy Capp (Oct 5, 2008)

I don't agree Gaza, providing you do your homework you'll not get burnt, in fact there are some bargains kicking around now, and some sellers don't mind if they only break even or make a loss....

Location, location, location. A 1 bed off plan or a completed one with electricity? It's not difficult.


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## turkeybill (Nov 25, 2008)

I am indebted to you all for your sound advice. I would be foolish to ignore those of you living there. my mind is an open one and my pocket does not burn. Time is certainly on my side. If any of you get a whiff of a good deal you know where to contact me. Thanks again to you all.
I look forward to many more discussions with you all on this forum.


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## 54248 (Jul 21, 2007)

I've heard that if you buy a property in Ajman you can get your residency visa too? I do not know if this is true.


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## Andy Capp (Oct 5, 2008)

Residency Visa's are sponsored by the developer, there was a lot of column inches given to this recently, have a search on gulf news, khaleej times and the national's website.

Nothing in this country is ever guaranteed....


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## Mourm (Oct 22, 2008)

I disagree about buying in the UAE at this moment in time. Right now the correction is in place because there are a lot of people that have suffered losses due to stock market falls and losses in other areas. This knock on effect is that these people need the money now and so have dropped their prices down to original purchase price or lower (as stated by Andy). Right now is one of the best times to buy as you can get a bargain and you will find you can negotiate more as the buyers hold the cards. Seriously look at prices 2 months ago and look at the same areas now. Dubai is picking itself up now and people are feeling more comfortable with some banks lending back up to 85% on some projects. Just to finish choose a large developer who is registered with RERA and has an Escrow in place (not in Ajman) some of the smaller developers are doing well but they will struggle when they come to there next expected payment (if they get people defaulting).


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## Easy Rider (Oct 23, 2008)

Mourm said:


> I disagree about buying in the UAE at this moment in time. Right now the correction is in place because there are a lot of people that have suffered losses due to stock market falls and losses in other areas. This knock on effect is that these people need the money now and so have dropped their prices down to original purchase price or lower (as stated by Andy). Right now is one of the best times to buy as you can get a bargain and you will find you can negotiate more as the buyers hold the cards. Seriously look at prices 2 months ago and look at the same areas now. Dubai is picking itself up now and people are feeling more comfortable with some banks lending back up to 85% on some projects. Just to finish choose a large developer who is registered with RERA and has an Escrow in place (not in Ajman) some of the smaller developers are doing well but they will struggle when they come to there next expected payment (if they get people defaulting).


Hm, I'm afraid you're not seeing the full picture here my friend. First of all this not a correction but virtually a free fall as almost no transactions have been made in the past few weeks and therefore it's not that prices have gone down but that there are simply no market prices for many developments...
If you want to sell your villa/appartment/plan and there is no one to buy it, then your property is virtually worth nothing.

"Dubai is picking itself up now " Is it? How? I'd be very interested to know.

"some banks lending back up to 85% on some projects." Really? Even if they were I wouldn't save my money with them as they would very likely go bust in the very near future lending 85% on real estate at the moment!!


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## Mourm (Oct 22, 2008)

Easy Rider said:


> Hm, I'm afraid you're not seeing the full picture here my friend. First of all this not a correction but virtually a free fall as almost no transactions have been made in the past few weeks and therefore it's not that prices have gone down but that there are simply no market prices for many developments...
> If you want to sell your villa/appartment/plan and there is no one to buy it, then your property is virtually worth nothing.
> 
> "Dubai is picking itself up now " Is it? How? I'd be very interested to know.
> ...


Ok first of all get in contact with Property Finance Link they will put you straight about the lending as yes it is still possible with some institutions. 

Secondly when the new year starts the banks will have new targets set and the lending on most banks will be back to some where close to what there were.

Thirdly the rulers of Dubai and the UAE will not let this market fail. At the minute there are fewer sales but there are still sales (now Nakheel has shut the doors to the transfer office today, as they are over loaded with sales (78 so far). It is picking itself up after a huge knock by extra incentives by the developers and to be honest a lot of the developers we are in close contact with, had a fund for such an event. 

It is a correction and to be honest one that Dubai needed. For too long it was a sellers market and they have managed to over inflate the cost of buying. Now the shoe is on the other foot some of the buyers are merely waiting to see what is going to happen and this in turn is again making the prices more affordable. We see good things for the market as i for one was not prepared to pay the prices before but now things are on the up. For end user there will always be a market and this will be a big increase in 2009 with more projects completing. All i would say is be wary of small developers with projects finishing in 2011 onwards.


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## Elphaba (Jan 24, 2008)

Mourm said:


> Ok first of all get in contact with xxxx they will put you straight about the lending as yes it is still possible with some institutions.
> 
> Secondly when the new year starts the banks will have new targets set and the lending on most banks will be back to some where close to what there were.
> 
> ...


Nakheel have shut their doors as they are all but bankrupt! Watch the papers for an announcement - probably that they have been taken over by Abu Dhabi.

Many developers have a major financial problems, so I'd urge caution to anyone considering buying off plan, as many projects will not complete.

-


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## Elphaba (Jan 24, 2008)

turkeybill said:


> I am indebted to you all for your sound advice. I would be foolish to ignore those of you living there. my mind is an open one and my pocket does not burn. Time is certainly on my side. If any of you get a whiff of a good deal you know where to contact me. Thanks again to you all.
> I look forward to many more discussions with you all on this forum.


Thank you for a lovely courteous response. Much appreciated. 

I have just spotted that you live in Fethiye, a place I know very well. Should be nice and quiet now that the tourists have left. 

-


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## Easy Rider (Oct 23, 2008)

Mourm said:


> Thirdly the rulers of Dubai and the UAE will not let this market fail.
> QUOTE]
> 
> 
> ...


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## Mourm (Oct 22, 2008)

Elphaba said:


> Nakheel have shut their doors as they are all but bankrupt! Watch the papers for an announcement - probably that they have been taken over by Abu Dhabi.
> 
> Many developers have a major financial problems, so I'd urge caution to anyone considering buying off plan, as many projects will not complete.
> 
> -


Sorry Elphaba, you are nearly always 100% spot on but i am afraid on this matter you are not... Nakheel are not nearly bankrupt and they have shut the doors because they cannot take any more transfers for today... We have been there every day this week and it is still doing a lot of business. We also have some good connections within the senior management... Tel : 04 3903333 for Nakheel's transfer office, ask why they have closed the doors today (there are still customers inside transferring and will be up until 4).


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## Elphaba (Jan 24, 2008)

We'll see won't we.  I know for a fact that Nakheel has liquidity problems, as do many other developers. Many have laid off staff and are just not selling properties.

We have a major financial issue in the UAE, as in the rest of the world. It is not an issue of property prices, but of mortgages/credit/liquidity. Beyond the major developers smaller companies have already made staff redundant (engineering, contruction, sales), many banks/lenders have stopped lending. Many people have foolishly made partial payments on properties assuming they can flip them, but will be unable to do so, so will either have to stump up the cash, or lose what they have already paid.

Dubai property prices have been overly-inflated for some time, so a 'correction' will be long overdue. Sadly, too many people have believed the snake oil salesmen and bought into the sales pitch of ever rising prices without doing their homework or understand economics.

Dubai won't collapse, but there will be considerable changes and Abu Dhabi will have at least a stake in many Dubai projects and properties. The rulers cannot stop the market falling - what a daft assumption! They can stop companies going bankrupt and prop up businesses and investments, but they cannot control more than than. To believe otherwise is foolish.

-


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## sgilli3 (Mar 23, 2008)

Mourm said:


> Sorry Elphaba, you are nearly always 100% spot on but i am afraid on this matter you are not... Nakheel are not nearly bankrupt and they have shut the doors because they cannot take any more transfers for today... We have been there every day this week and it is still doing a lot of business. We also have some good connections within the senior management... Tel : 04 3903333 for Nakheel's transfer office, ask why they have closed the doors today (there are still customers inside transferring and will be up until 4).


Maybe they should pay money they owe to people then if business is so good


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## Mourm (Oct 22, 2008)

Elphaba said:


> We'll see won't we.  I know for a fact that Nakheel has liquidity problems, as do many other developers. Many have laid off staff and are just not selling properties.
> 
> We have a major financial issue in the UAE, as in the rest of the world. It is not an issue of property prices, but of mortgages/credit/liquidity. Beyond the major developers smaller companies have already made staff redundant (engineering, contruction, sales), many banks/lenders have stopped lending. Many people have foolishly made partial payments on properties assuming they can flip them, but will be unable to do so, so will either have to stump up the cash, or lose what they have already paid.
> 
> ...


I do agree with what you are saying Elphaba you obviously have a good grasp of what is going on as you are connected to the field but read that line again fail not fall... I think it is terrible the amount of people being laid off and yes I understand there are companies in trouble but there is light at the end of the tunnel and i for 1 am an Optimist.


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## turkeybill (Nov 25, 2008)

Elphaba said:


> Thank you for a lovely courteous response. Much appreciated.
> 
> I have just spotted that you live in Fethiye, a place I know very well. Should be nice and quiet now that the tourists have left.
> 
> -


Thank you Elphaba. Nice to be appreciated. Yes Fethiye is very quiet now. It is a lovely place and we enjoy living here. we would like to spread our wings and own a holiday appartment in Dubai somewhere. But as I say, we can wait for the right deal to turn up and I guess that is mainly the view of this forum.

To everybody else, I do apologise for the furore I seem to have started but that is why this is a forum to examine the views you all have. I am eternally grateful to the way we seem to have been accepted and very much look forward to meeting some of you on our fact finding trips to Dubai over the coming months. Thank you all.


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## Gaza (Sep 22, 2008)

Mourm said:


> Secondly when the new year starts the banks will have new targets set and the lending on most banks will be back to some where close to what there were.


Nonsense. I work for a leading mortgage lender in the UK and feel qualified to comment. Targets have nothing to do with lending criteria. It would be an extremley foolish Executive who approved risk criteria based on targets rather than market reality. Most FS organisations split lending criteria responsibilities from sales & marketing. It is good corporate goverance to do this.


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## Mourm (Oct 22, 2008)

Gaza said:


> Nonsense. I work for a leading mortgage lender in the UK and feel qualified to comment. Targets have nothing to do with lending criteria. It would be an extremley foolish Executive who approved risk criteria based on targets rather than market reality. Most FS organisations split lending criteria responsibilities from sales & marketing. It is good corporate goverance to do this.


Well the finance broker we work with in Dubai is in close contact with the banks over here and this is where this has come from. I was merely adding a sentance from someone also qualified to comment.


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## Gaza (Sep 22, 2008)

Mourm said:


> Well the finance broker we work with in Dubai is in close contact with the banks over here and this is where this has come from. I was merely adding a sentance from someone also qualified to comment.


I'm not disputing that someone told you this but it is complete and utter twaddle. You only have to look around the world and see the state the banking system is in. New lending in the UK is down 52% on last year. Banks and other lenders are insisting on deposits of up to 40%. This mitigates their risk somewhat but you have to remember that this is 40% of the valuation and surveyors are substantially marking down the value.

It was the reckless lending polices of the banks that got the world banking system in to the state that it is. Those days are over. I doubt we will EVER see the likes again. There are very few banks that do not have to raise capital on the money markets. Any bank with a perceived reckless lending policy or high risk profile will not be able to raise funds. No funds, no mortgages. 

BTW you are highly unlikely to get an impartial view from a finance broker. They need the banks to start lending again or they don't have a business, so they have a vested interest in talking up the market. That in itself is no bad thing as someone needs to be talking it up instead of the press talking it down further.

Dubai seems to think it is immune from the realities facing the rest of the world. Current events are proving it is not. It also seems to thing it will rally quicker than the rest of the world. It won't. Until global investor confidence returns Dubai will scrape along with the rest of the world. 

I sometimes think that their is more than just tobacco in the shisha's!


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## crazymazy1980 (Aug 2, 2008)

That's because all of the scaremongering - always makes things more worse than they need to be 

It's like runs on banks, a rumour occurs a bank is going under, everyone takes their money out, bank goes under because it has no capital. 

Wish people who have no idea what's going on in this whole financial mess would stop making wild speculations and let us all just get on with getting things back on track


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## Easy Rider (Oct 23, 2008)

crazymazy1980 said:


> That's because all of the scaremongering - always makes things more worse than they need to be



"more worse than they need to be "...I'm afraid...not. Unfortunately .
Working in the financial industry as a financial analyst, it is my job to find reliable information on companies. And actually mesuring the discrepancy between what is published in the press and the reality (i.e. how much cash is actually sitting on a company's balance sheet, how the business is doing etc.), I can assure you that the media is far from making things worse than they actually are. 
I don't specialise in real estate no I don't have a specific comment to make on that sector, but I believe what's true for other sectors applies here as well.


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## crazymazy1980 (Aug 2, 2008)

Easy Rider said:


> "more worse than they need to be "...I'm afraid...not. Unfortunately .
> Working in the financial industry as a financial analyst, it is my job to find reliable information on companies. And actually mesuring the discrepancy between what is published in the press and the reality (i.e. how much cash is actually sitting on a company's balance sheet, how the business is doing etc.), I can assure you that the media is far from making things worse than they actually are.
> I don't specialise in real estate no I don't have a specific comment to make on that sector, but I believe what's true for other sectors applies here as well.


See you have just proved my point, 

You have stated that you have no knowledge of the RE field and are speculating on what you think is the case with no firm grounding - unless you have seen the balance books of the likes of Emaar, Nakheel et al. People will take your word for it as a Financial Analyst (regardless of your actual field of expertise) and will be passing this message of armageddon upon our doorstep to all and sundry...

Man in the Street - _"My friend, who's a financial analyst and so knows what's 'really' going on says that it's all over and we better take our money and run"_

...and so it starts


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## Easy Rider (Oct 23, 2008)

crazymazy1980 said:


> See you have just proved my point,
> 
> You have stated that you have no knowledge of the RE field and are speculating on what you think is the case with no firm grounding - unless you have seen the balance books of the likes of Emaar, Nakheel et al. People will take your word for it as a Financial Analyst (regardless of your actual field of expertise) and will be passing this message of armageddon upon our doorstep to all and sundry...
> 
> ...


I said that I believed what's true for other sectors applies to the Real Easte as well. In other words, I read journalists smoothing things up and giving to people the false impression that things, after all, are not that bad. Well, for some of the companies I know, they are! My point is that whilst I don't know the RE sector particularly well (which doesn't mean that I'm clueless about it), I believe that what I objectively observe in other industries -lack of honesty from the press- still holds true for the real estate industry.


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## crazymazy1980 (Aug 2, 2008)

Easy Rider said:


> I said that I believed what's true for other sectors applies to the Real Easte as well. In other words, I read journalists smoothing things up and giving to people the false impression that things, after all, are not that bad. Well, for some of the companies I know, they are! My point is that whilst I don't know the RE sector particularly well (which doesn't mean that I'm clueless about it), I believe that what I objectively observe in other industries -lack of honesty from the press- still holds true for the real estate industry.


Which journalists are smoothing over things?  I think they hold partial repsonsibility for some of this. The Northern Rock run for example (although they were in deep water with their loan to capital ration ) 

How do you analyse the trends, is it purely technical, purely fundamental or a mix of both? Are your models incorporating the effects of the various governmental stability programs (or bailouts as some may call them )?

Those in positions of influence do need to reassure people that what needs to be done is being done. The analysts then need to commentate on these measures and let us know if they will work rather than scaremongering about doomsdays ahead. Else people will be scared to put money into the system and it WILL fail. That's not me saying we should spend our way out of the mess but that if you are in a position to invest in a viable business opportunity that you should, with due prudence naturally.


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## Elphaba (Jan 24, 2008)

Most of the press in the UAE smoothes things over. Well known fact and the longer you are here the more cynical you become about so called reporting. The only newspaper that tells things anything like they are is The National.

Companies here are not accountable in the same way as in other places, so they obfuscate when it comes to their figures. Too many have believed the hype about the good times being never ending and had little or no provision for bad debt or a downturn in markets.

It isn't the end of the world, but there will be serious problems for some time to come. I expect a handful of companies to go bust and others to leave the UAE, but as with all previous economic recessions, eventually, a corner will be turned. 


-


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## Easy Rider (Oct 23, 2008)

crazymazy1980 said:


> Which journalists are smoothing over things?  QUOTE]
> 
> ahem ahem.... I really shouldn't give names but just tune in to 103.8 every morning or evening and you'll have a good example.
> I don't think it's either the journalists' or indeed the financial analysts' responsability to avoid scaring the hell out of people. Their responsability is to inform, and stick to the facts.
> It is indeed the companies' responsability, on the other hand, not to create the conditions of a disaster which announcement by journalists and analysts will scare people off


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## DXB-NY (Oct 6, 2008)

Thank you! thank you! I dont think it couldnt have been said better.


Elphaba said:


> Most of the press in the UAE smoothes things over. Well known fact and the longer you are here the more cynical you become about so called reporting. The only newspaper that tells things anything like they are is The National.
> 
> Companies here are not accountable in the same way as in other places, so they obfuscate when it comes to their figures. Too many have believed the hype about the good times being never ending and had little or no provision for bad debt or a downturn in markets.
> 
> ...


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## DXB-NY (Oct 6, 2008)

I have been officially confused by MOurn. First u imply now is the time to buy, then u turn around an agree with Elphaba? ok
There is nothing wrong with being an optimist, but lets be honest with ourselves. Dubai is more likely to get worse, b4 things start normalizing. It is just the beginning for it.


Mourm said:


> I do agree with what you are saying Elphaba you obviously have a good grasp of what is going on as you are connected to the field but read that line again fail not fall... I think it is terrible the amount of people being laid off and yes I understand there are companies in trouble but there is light at the end of the tunnel and i for 1 am an Optimist.


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## Mourm (Oct 22, 2008)

DXB-NY said:


> I have been officially confused by MOurn. First u imply now is the time to buy, then u turn around an agree with Elphaba? ok
> There is nothing wrong with being an optimist, but lets be honest with ourselves. Dubai is more likely to get worse, b4 things start normalizing. It is just the beginning for it.


I agree with Elphaba that some companies are in trouble and yes everyone has read an article or two (although a lot of times conflicting). We cannot say that Dubai has not been affected and we can see the damage it has done with all the layoffs. What i am saying and will continue to say is that right now on completed properties there are some bargains to be had and i for one am buying now. There are some other off plan properties that i am closely following for personal interest. I have made some good money from property and know i will carry on making this money. I still believe in this market, property will always be the safest investment and i believe this market will pick up again by the start of next year (I'm not saying every developer will be back up there but do your research and you won't lose).


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## marc (Mar 10, 2008)

Please be careful buying in Ajman, I would reccommend projects only from sound developers.

because there are new RERA laws or escrow accounts, there loads and loads of cowboy developers who sprung up over night launching towers here there and everywhere.

the corniche sounds better, or Ajman marina from GREAT PROPERTIES, or if on Emirates Road something from Chapel or Estate 400 - they are the master developers with Good backing (Ajmans master developers).

But be careful......other then that, not sure about buying anywhere at the moment, a lot of people are holding but there's great deals to be had as everyone is panicking and panic selling, espically in Dubai. ..... let me know if you need anymore help.

Thanks.


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## mahboob (Nov 15, 2008)

*prpperty in Dubai*

Hello Bill and Tracey,
This is Zafir from Pakistan, A year back I had visited Dubai reason was to rent out my freinds apartment in Dubai which is located in International city dubai, when I saw that rental income is good in dubai I desided to purchase one apartment my self I booked one apartment in emirates city ajman a year back, after paying 25% of purchased price I receive my sale purchase agreement from my developer I was shock there were so many thinks which were diffirent then my booking contract after argue for almost 6 month I got my developer to agree to send me the corrected Sale purchase agreement still waiting for that now I heard that construction is halted and people are saying that there will be no electricity for about 5 years and no water no sewerage line we purchaser can not do anything about it can not stop paying installment its too confussing reason I am telling you is that when you buy in UAE its better to buy a completed apartment as you pay money get possession its good for rental income but be carefull as in my case I am stuck can not do anything about it at the same time I ask someone from UAE kindly advice me in my case what should I do as I know my project will be late I have to pay the installment is there anyway I can stop paying installment or get back what I have paid so far


turkeybill said:


> Hi Guys and Gals,
> 
> We are Bill & Tracey and we have recently visited Dubai on a fact finding tour regarding property purchase there. We have returned bewildered. (Ithink that is the saying). The amount of property being built is colossal and the areas one can live in equally confusing. Therefore, we have joined this forum with the hope that you ex-pats already living there can help us. We have spoke to many of the on-line property dealers and the consensus of opinion takes us down the Ajman road every time. We are told that this is still mainly desert and a long way from where we would like to be. We would like to be nearer the shopping malls of Dubai and with this in mind we are furnishing a few details below;
> 
> ...


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## marc (Mar 10, 2008)

Its still a good investment if you can buy something ready made, yes of course its cheaper to buy off plan but do you really want to wait, and worry if its going to be canceled, or suspended.....

You should try and get something ready to go, and have an actual viewing!! - not a model or floor plan paperwork - its all nonsense, they lie...so much!!!!


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## Elphaba (Jan 24, 2008)

Hello Marc

Not seen you here for ages. How's tricks? 


-


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## marc (Mar 10, 2008)

Hi Elphaba,

I know, I've been busy, but no excuses, I will be on here regularly from now on! - just moved into lettings here, so working on that + sales e.t.c - Thanks.


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