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United Arab Emirates - دار زايـــد The exciting new world in Dubai , Abu Dhabi and other Emirates



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Old February 17th, 2012, 08:14 AM   #30141
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Markwass I'm interested to know if you were to choose a real estate investment what your criteria would be?
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Old February 17th, 2012, 09:16 AM   #30142
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HP Printers - hate them.
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Old February 17th, 2012, 11:50 AM   #30143
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Quote:
Originally Posted by MarkWass View Post
TB, I'm no Warren Buffet, neither are you, but I pay very close attention.

To be clear, I have no probs with your logic and don't think personally I have ever misquoted you. Have I? If I have, please elaborate...

However, I struggle to see how logic (text book or not), due diligence etc, has much relevance, in terms of long term REALITY, when used as a basis of investment choice in a particular product / location... works in an effectively completely unregulated marketplace.

Out of interest, honestly, do you work for RERA?
No I don't work for RERA.

You miss quote me by your statement that I am beginning to wake up. When have I ever changed my view of what happened in the past. Times are changing now certainly but if I were to go back to 2005, I wouldn't do anything different. We all knew the property market in 2005 was unregulated but did anyone care? No, they were blinded by the stories of the 100% profit in a month from all the flippers. No one gave a shit about regulation when there was money being made left right and centre. Now the bubble has burst everyone is bleating about an unregulated market. Not that I am defending Dubai's lack of regulation, I am just making the point we all knew but still jumped in with our life saving. Caveate emptor, unregulated therefore more due dilligence including standing in front of the plot with the glossy brochure in your hand and asking yourself, REALLY???

If you struggle to see my logic then you are struggling to accept that what I did was right. It worked, my apartments are something like 4 years old now and have returned more than half of the original capital sum invested. My exposure is lessening every year and rents in the properties I chose are also starting to rise again. That suggests that the basic stuff, location, location, etc was done correctly also. This is 2012 now and the market is no longer completely unregulated, there are established laws and as a result, courts with backlogs of claims.

If you keep quoting me as an example in your argument, then I'm likely to offer my tupence worth if I don't particularly agree with the context. Try and absorb what I am saying for a change instead of discarding it always.
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Old February 17th, 2012, 11:56 AM   #30144
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Quote:
Originally Posted by Spurs View Post
Markwass I'm interested to know if you were to choose a real estate investment what your criteria would be?
I am interested to know what his criterea was when he made his purchases? Most people went for the one with the nicest brochure!
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Old February 17th, 2012, 12:03 PM   #30145
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Well at least this beats the Mosque debate.

your turn Markie.
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Old February 17th, 2012, 12:30 PM   #30146
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Quote:
Originally Posted by Spurs View Post
Markwass I'm interested to know if you were to choose a real estate investment what your criteria would be?
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Old February 17th, 2012, 12:57 PM   #30147
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Quote:
Originally Posted by MarkWass View Post
very true 'I Know'.

But this thread is supposed to be discussing matters as its title suggests. Even TP/TB who always used to continually pat themselves on the back for how 'smart' they thought they were for following basic schoolboy / text book resi property investment tactics, are starting to wake up.

As I, and many others can see, it's obvious, the potential (and liquidity of transactions) in this particular market can NEVER be fully achieved or even properly start until the day that the dodgy dealings are stamped out and no longer welcome. Actions, no longer 'words' needed in terms of regulation.

Talking of stamping out, now that you have been persuaded to stop the incessant copy/paste antics, I am interested to hear your views?


Now that you have your answer that you posted in this thread.



You can PM me if you would like to ask anything further with regards to my answer.



Yes Mosques are relative just as any other facilities and provide the people with what they would require in any property development that takes place in the United Arab Emirates.



The thread is Property & Investment in Dubai: Your questions about the market, Mosques are an integral part of the community here and it has an effect on the investors who have purchased property but don’t have a Mosque in the area.


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Old February 17th, 2012, 01:25 PM   #30148
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Quote:
Originally Posted by True Blue View Post
No I don't work for RERA.

You miss quote me by your statement that I am beginning to wake up. When have I ever changed my view of what happened in the past. Times are changing now certainly but if I were to go back to 2005, I wouldn't do anything different. We all knew the property market in 2005 was unregulated but did anyone care? No, they were blinded by the stories of the 100% profit in a month from all the flippers. No one gave a shit about regulation when there was money being made left right and centre. Now the bubble has burst everyone is bleating about an unregulated market. Not that I am defending Dubai's lack of regulation, I am just making the point we all knew but still jumped in with our life saving. Caveate emptor, unregulated therefore more due dilligence including standing in front of the plot with the glossy brochure in your hand and asking yourself, REALLY???

If you struggle to see my logic then you are struggling to accept that what I did was right. It worked, my apartments are something like 4 years old now and have returned more than half of the original capital sum invested. My exposure is lessening every year and rents in the properties I chose are also starting to rise again. That suggests that the basic stuff, location, location, etc was done correctly also. This is 2012 now and the market is no longer completely unregulated, there are established laws and as a result, courts with backlogs of claims.If you keep quoting me as an example in your argument, then I'm likely to offer my tupence worth if I don't particularly agree with the context. Try and absorb what I am saying for a change instead of discarding it always.



The ways in which you have summed up the last 6/7 years of this market are true.


Now the frenzy is over, the ones who simply fell for the “get rich quick” idea are the ones who seem to think they are the only ones who have lost. You can’t buy experience.


There are winners and losers in every upsurge and in every sector, OFF PLAN is and will always be a risky avenue to go down.


This scenario is similar to the whole endowment policy debacle that took place in the UK, some banks paid back when they were forced to for miss selling policies with the dream of having a windfall lump sum at the end of the term, investors who got caught up in them lost when the policy had matured, in some cases the principle amount wasn’t paid back let alone any profit.


Although there are similarities with the two, the property market here is subject to a barrage of variables, which can a do change very frequently.


Fortunately HP printers are not one of them.


As the saying goes, “ All roads don’t lead to Rome”


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Old February 17th, 2012, 02:33 PM   #30149
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Spurs - in answer to your question, regarding real estate investment criteria: that's not easy to put into a few words, but it's not exactly rocket science, the most important factor being simple common sense and experience, and varies depending on particular goal (capital growth or income return, expected tenant demand, anticipated length of holding asset, portfolio risk spread eg some safer(but more costly), some riskier(low cost but higher potential/risk) etc)..

As it happens, I have never had an issue with TBs logic, with regards to investment criteria.

However what I do have a problem with, is some of the early off plan investors taking the high moral ground over off plan investors who were 1 year later, whom they deem fools. Many of the developers were the same, similar locations (eg adjoining site), similar 'product'. The main difference being time, and the fact that market players learning from each other how to get away with tricks. Behaviour of the very same developers deteriorated..
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Old February 17th, 2012, 06:07 PM   #30150
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[QUOTE=

This scenario is similar to the whole endowment policy debacle that took place in the UK, some banks paid back when they were forced to for miss selling policies with the dream of having a windfall lump sum at the end of the term, investors who got caught up in them lost when the policy had matured, in some cases the principle amount wasn’t paid back let alone any profit.

[/QUOTE]

In fact that pales in comparison to the pensions miss-selling scandal.

ALSO

In the UK property market during the boom years numerous scams occurred with individuals losing life savings. Confidence tricksters marketed pooled buy to let investment schemes and raked in millions and disappeared along with the money. The properties did not exist. Many have also been sucked into the failed apartment developments which have lost upto 50% value.This happened in a mature market with no protection or recourse for the victims.

Obviously no comfort for the UAE victims.

Lets hope the UAE gets it right some day with the regulations and consumer protection.
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Old February 17th, 2012, 07:02 PM   #30151
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Yes good points you make.

You also must of heard about the Land banking scam that was going on in the UK, they tried to fleece people here as I saw a stand at the Mazaya centre on SZR.

Green belt farm land divided into plots and sold with a promise of planning that they knew full well was never going to happen.


If you can see the gravy train.

Your already too LATE


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Old February 17th, 2012, 08:52 PM   #30152
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Quote:
Originally Posted by I Know View Post


Yes good points you make.

You also must of heard about the Land banking scam that was going on in the UK, they tried to fleece people here as I saw a stand at the Mazaya centre on SZR.

Green belt farm land divided into plots and sold with a promise of planning that they knew full well was never going to happen.


Not only heard of it: I nearly get sucked into that one. It was only when I saw one being pushed local to me that I saw the light as I was very well aquainted with the green belt. It was a massive scam and to be honest the smartest of us can get caught out.
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Old February 17th, 2012, 11:09 PM   #30153
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New Wind investors

Go to the Wind Tower site www.windtowers.net for the latest anouncement. There seems to be good news - maybe?
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Old February 18th, 2012, 07:43 AM   #30154
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So how come construction is commencing and most investors didn't pay?

For those who didn't pay, have you received any official notice from RERA?

Has anyone spoken to ACI recently?
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Old February 18th, 2012, 01:42 PM   #30155
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Not only are Mosques required in the new Dubai areas to provide worshippers ease in new residential areas like JBR, Marina and JLT to name a few, people are calling for Prayer rooms at all metro stations too.

Will be good for the real estate market as Muslims will prefer to live near a Mosque, can commute on the metro and have all the facilities they would require





Quote:
Prayer rooms required

Public transport users should be provided the facility to pray at Dubai Metro stations

Gulf News Published: 00:00 February 16, 2012



Image Credit: Illustration By Dana A. Shams/©Gulf News


Gulf News reader Sheeba Nazar wanted to draw the attention of the authorities to the lack of prayer rooms at Dubai Metro stations.

She wrote: ‘There are no prayer rooms in the Metro stations.

A prayer room doesn’t take much space and there are such rooms in other public places, like the malls.

So, why not in the stations?

The authorities should have one built at every stop so that public transport users have a proper place to pray.


Comments (11)

Added 18:12 February 16, 2012
it is very good thinking to make prayer rooms in the metro stations. let us hope for the best.
Anonymous, dubai, United Arab Emirates

Added 17:30 February 16, 2012
Al Hamdulillah .. it is a great Observation. Gulf News should contact Dubai Metro Authorities and Inform this as normally do with complaints. It will be taken as thousand requests .. and all of us are waiting for your update
Afzal, Abu Dhabi, United Arab Emirates

Added 17:02 February 16, 2012
Great Point the only "missing'' thing on metro station !
Mohammad Othman, Dubai, United Arab Emirates

Added 15:49 February 16, 2012
Authorities must make it their priority to provide the prayer spaces in metro stations. Prayer spaces are really necessary.
Habib, Shj, Afghanistan

Added 14:10 February 16, 2012
It is best observation and since it is islamic country it very much required at every metro stations.
Anonymous, Dubai, United Arab Emirates

Added 13:41 February 16, 2012
Point focused, I hope this will be implement very soon.
Anonymous, Sharjah, United Arab Emirates

Added 11:58 February 16, 2012
great post! I think we all request authorities to look into such a matter. Prayer rooms are essential in such places, as stated it only takes up little space.
omani, dubai, United Arab Emirates

Added 11:25 February 16, 2012
I appreciate your valuable suggestion on this matter
Sharaf, Dubai, United Arab Emirates

Added 11:24 February 16, 2012
I think this is a good Idea as almost malls have prayer place. Metro stations are like,many people traveling so they must have a prayer hall at every station. It would be a great help!!
Anonymous, Dubai, United Arab Emirates

Added 11:03 February 16, 2012
I have faced this problem myself multiple times,even at the bus stations,except for Burdubai [ghubaiba] none of the stops i use have a mosque or praying area.I salute the writer of this suggestion.
rubina, sharjah, United Arab Emirates
http://gulfnews.com/news/gulf/uae/co...uired-1.981402


Altogether lovley
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Old February 18th, 2012, 02:52 PM   #30156
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Just by interest, and no disrespect by my question. If everybody does all this praying, everywhere, five times a day, who's going to run the city/country effectively ???

I'm guessing the expat's, but what if they start felling Dubai's turning into another Afganistan, and decide to avoid the place ???

It's a double edge sword, visually Dubai is heading in the direction of a modern metropolis, mentally, well there is some catching up to do with the rulers vision, and echos of the fears/dislikes are easier than ever to hear from the locals.

What's the true formula to keep everybody happy, living in peace, and harmony ???

I'm also sure the ruling family realize they're day's would be numbered if the country went a little to conservative with the people only having god to fear.

Now throw that equation into foreigner's needed/wanted to keep the realestate market thriving in the UAE. In the end no expat really needs to be there, nor has to be there, would you agree with me ?

Can you see this as being a clash of civilizations, or mending ???
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Old February 18th, 2012, 03:53 PM   #30157
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Quote:
Originally Posted by maximus1 View Post
well i have just had a phone call this morning from david lewis tfg.
i asked if tfg has or should have notified any of its clients that rentals were terrible and not as they had said.
david lewis replies, wether we should have communicated that things were bad, NO not from our companys stand point.
my question to him, have you ever as a company sent out email re poor performance to clients.
david lewis, reply NO. BECAUSE THE ONLY PROPERTY THAT WE HAVE COMPLETED ON IS THE DIAMOND, its fully sold out but rents and owners are dissapointed at returns they are getting?
things were said between us and went on a bit.
david lewis, says to me so you have spoken to a couple of investors?
me, yes i am posting my acccount online, as if i can save one person from going down the road i have gone down, its worth it.
DAVID LEWIS says, im not trying to threaten you in any way at all max, but we do know , and have ways of finding out whats going on line, and if we do not feel comfortable with whats being said we will take action to protect our corporate image.
im not try to threaten you but if we see somything we are not happy with we will have to take action.
me to him,
all i have ever said on line is the truth and i can prove it, and if we do end up in court ill only ever tell the truth and somone will listen to me.

we then went on a bit more, basically david lewis was saying that nothing could be done by tfg, and i went on to say ok put everything that we have discussed in writing as i shall be pursuing a legal route.
i shall try and work out a way of putting this telephone conversation on line so that all can hear.
if they do threaten me i shall let you all know what they say.
ill keep on posting
a copy of this is going to be forwarded to daany lubert one of the first groups directors
How did it go? Did they refund you?
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Old February 18th, 2012, 08:03 PM   #30158
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lol wtf. Prayers take about 5 minutes each (5*5=25 minutes) between 5 am to 8 PM so it doesn't make a difference. Beside, the majority of expatriates are either muslims or come from conservative societies so again it doesn't make a difference.

The only bug here is the western bug which try to blow things out of proportion and make up problems. The right equation is for everyone to know their place in the country and that is by people knowing that they are here as guests only and therefor should act like one.
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Old February 18th, 2012, 08:13 PM   #30159
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Thank you for making that so clear to us.
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Old February 18th, 2012, 08:16 PM   #30160
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anytime habibi
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