# couple of dubai questions...



## trashcan (Apr 18, 2009)

hi, planning to get job soon in dubai, with one of the telecom major in dubai... and had couple of questions. I will not ask standard questions like is this money enough and crap.. but more of generic questions that can be best answered by the people there...


1. has the economy "really" improved or its still bad
2. how are the real estate prices, have they rebounded or still down?
3. how are the prices for a 2 bdr apt in jbr area, 
4. how are the telecom majors to work for? what is the general pay structure for sr. mgr or mgr position, just for comparison sakes.

thanks in advance.


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## Moe78 (Oct 29, 2010)

The economy seems to have picked up in some sectors but in others it is still real bad. Real Estate is still in the dumps for example and finance is still down there. I don't think the retail sector is as good as before but it is picking up and I think tourism is picking up too due to the cheaper costs.

Real Estate is still taking hits, rental prices keep dropping in some areas quicker more than others and I am not sure if anyone is keen on buying property here due to the uncertainty of the guarantees given to them as well as financial issues.

JBR is a desirable area, try dubizzle.com for some general prices and its dropping even further I believe so it has yet to hit the bottom.

Dunno what they pay but for their typical employees they pay them peanuts (not literally but they might as well!). We all hate Du and Etisalat cuz they suck LOL


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## Jynxgirl (Nov 27, 2009)

Depends on what industry. 

Prices in real estate continue to drop in less desirable areas but in areas that are western expat havens, the prices dont seem to be falling but holding kind of steady the last six months or so. 

Agree, look on dubizzle to try and get a feel for pricing. I do think they do alot of bait and switch. Similar pricing can be had though but you might have to do some leg work on your own. 

What does your passport say? What and where did you get your degrees? Where has your experience come from (country)? Your pay will be based on those things.


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## trashcan (Apr 18, 2009)

thanks for the great responses... 

couple of additional questions:

1. is 280-300K Dirhams per year enough for a family of 4? a good lifestyle includes living comfortably, kids to good schools, car, weekend dinners and stuff.
2. how are the mortgages in dubai, do i need to pay 20%-30% down, or 5% is enough?
3. what happens if i am underwater in mortgage, can i just walk away as done in usa, or not easy to do that?


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## Maz25 (Jul 6, 2008)

trashcan said:


> thanks for the great responses...
> 
> couple of additional questions:
> 
> ...


_No, there are no bankruptcy laws here and if you start accumulating debts that you cannot afford to repay, you might end up getting to know the police a little better than you would like to. If you can't afford something, then don't even go down that road._


See above for my answers.


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## trashcan (Apr 18, 2009)

thanks for all the responses...

how much are the apartments down from the peak of 2008, are they down like 20-30 or more then that? planning to get a nice apt at a cheap in jbr area?


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## Lenochka (Apr 19, 2008)

you start with "am not asking is this enough money" crap questions......
then later "is 280-300k enough money for a family....".....

underwater mortgage and walk alway like I did in the US.....

well, you run away from your committments and don't seem to bother....

sorry, but you don't do the Americans a lot of good here.....


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## trashcan (Apr 18, 2009)

Lenochka said:


> you start with "am not asking is this enough money" crap questions......
> then later "is 280-300k enough money for a family....".....
> 
> underwater mortgage and walk alway like I did in the US.....
> ...


i never said that i walked away from mortgage in US...

I asked is that even possible in dubai...

thank you for not reading correctly...!!


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## Maz25 (Jul 6, 2008)

trashcan said:


> i never said that i walked away from mortgage in US...
> 
> I asked is that even possible in dubai...
> 
> thank you for not reading correctly...!!


Calm down peeps! 

There are a lot of people who have mortgaged themselves to the high heavens, taken out just about every loan that there is to avail out there and have then simply jumped on the next plane and walked away from their responsibilities. This makes life especially difficult for the rest of us who need credit and who have every intention of honouring our debts.

Unfortunately, when people come on the forum and start asking about whether they can walk away from their responsibilities, it does touch a raw nerve as it would imply that they may actually take on debts that they know that they cannot afford and are just planning ahead and looking for ways to walk away from the debt when things turn sour.

I appreciate that you may just be looking for advice and are indeed planning ahead just in case things do not turn out as planned but with the number of people who have done a runner and not paid their debts, this is a subject that members feels strongly about and you may end up getting some very harsh views and comments. You will receive both positive and negative comments in response to every query and that is something that we all have to accept. I don't think that the poster was attacking you; they were just expressing their views and opinion, which obviously differs from yours.

My advice as given above still stands - if you cannot afford it, then do not even think about finding ways and means to buy it. If you fail to keep up with your obligations (most banks will ask for cheques - a bounced cheque = jail time!), you will very likely be arrested and jailed, until such time that you are able to repay your debts or until someone else steps in to pay off the debt.


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## Lenochka (Apr 19, 2008)

even considering to walk I way...


well, each to their own !


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## Maz25 (Jul 6, 2008)

Lenochka said:


> even considering to walk I way...
> 
> 
> well, each to their own !


I think you've made your point!


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## trashcan (Apr 18, 2009)

I totally agree.. you guys are crazy to jump to conclusion, that i will buy an apt in dubai and walkaway...... just asking is itself was a crime, guess it is fear that is making to jump to conclusions...

and on the top of it.. i have not even made my decision to accept the offer, leave buying an apt and then walking away...

take it easy...


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