# Are you guys seeing any economic recovery in Dubai?



## azahir (Jan 31, 2012)

This guy from Nakheel is painting a very positive picture about the Real Estate situation in Dubai.would like to know from folks who are already in dubai if this is really true.
Planning to move to Dubai end of this year for job hunting, so just checking the status. I am in IT and not in construction, but I guess its all related

?Let's forget about 2008,? urges Nakheel chairman - Real Estate - ArabianBusiness.com


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## CDN2012 (Jun 15, 2011)

azahir said:


> This guy from Nakheel is painting a very positive picture about the Real Estate situation in Dubai.


He's in the real-estate business, of course he's going to say that. I don't have actual numbers, but there still seems to be a hugh over-supply of both commercial and residential properties. I personally don't see that going away anytime soon. 
As for your plan to come here and scout the job market, if you got the time and money and do some research before hand about where and how to look and what companies are in your field, than I would say why not. Just remember in I.T. the job market has been flooded by people from the sub-continent who will work for a lot less than what you would work for. So make sure you bring something to the table that will separate you from the rest.
The gravy years are 2007 are done but there are still decent jobs to be had here as well as business opportunities.


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## Mr Rossi (May 16, 2009)

Just when you thought we couldn't take the piss much further - we say what next?


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## Jynxgirl (Nov 27, 2009)

Tell that to the people who are making payments on projects for last five years after having put down huge chunks of change to get in on them.... and still not completed. 

But nice to know they are working on these new projects! AWESOME!


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## blue_moon (Apr 25, 2012)

I think recovery is a bad thing for those who need to rent the apartments; *do you guys see the prices of renting apartments going up? Or is it still at the all-time-lows?* As far as I can tell from my package the housing allowance part did not change much over the years, so rising housing cost during recovery would negatively affect our living standard.


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## Tropicana (Apr 29, 2010)

Just check out the 20 odd comments in that article. In that site, almost every topic has different opinions. This piece is one of the very few where each and every commentator is critical of the statement.

However as far as overall economic recovery was concerned, Dubai's tourism, aviation and retail sectors were all doing much better in late 2010/ 2011 than in 2008/9


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## ziokendo (Jan 7, 2012)

The question is misplaced in my opinion, as it assumes that Dubai economy is still based on real estate.

Fact is that most of Dubai growth and worth in 2006-2008 was real estate, and I don't see that time coming again soon: look at the apts oversupply which is bound to come in the Marina, in JLT, in Business Bay, with all those building to be delivered in the next years. 

Of course high quality developments will still be in demand and hard to come by, but the big picture is more supply than demand in real estate.

The fact is now many other sectors of the economy in Dubai are booming compared to 2008, I am talking about two or three fold turnover increases in my business for example (retail) just in a few years.
For these sectors talking about "economic recovery" compared to the "real estate boom years" is plain ridiculous.


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## Canuck_Sens (Nov 16, 2010)

There is no recovery. 

a) Real Estate collapsed and there is an oversupply of properties. Don't think that fancy places reflect the overall state of the sector. It does not.

b) UAE is still largely run by oil gas exports. The UAE government needs the barrel to be priced at least at 107 USD to break even in a recent analysis published. It is the highest among the GCC countries. in other words, the others are faring well and getting more richer.

c) The country has a big turnover. People come and go. it might give you the impression that jobs are climbing...ain't true. Only for Emiratis that's true. 

d) With the Iranian tensions escalating, there can be issues in shipping out oil. So more hardship is expected


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## BedouGirl (Sep 15, 2011)

Off topic - Canuck_Sens, where's your doggy gone? It made me smile every time I saw him/her. Reminds me of my boy who I had to say goodbye to this year.


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## Canuck_Sens (Nov 16, 2010)

BedouGirl said:


> Off topic - Canuck_Sens, where's your doggy gone? It made me smile every time I saw him/her. Reminds me of my boy who I had to say goodbye to this year.


 Yeah I know the pic used to remind me of my dogs too. My fellas are exactly like that one.

Long story short I think it was time for change. I wanted to put something that would remind Canadians of Canada. There is nothing more Canadian than Alexander Keith's which is a Canadian brewery founded in 1820 in Halifax, Nova Scotia.

Ok The Maple leaft too.

But no worries, I will put later on another pic of another fella when I feel like changing again !


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## BedouGirl (Sep 15, 2011)

Good to know  and the brewery is better than a Tim Hortons' shot lol.


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