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Old February 21st, 2005, 10:27 PM   #61
ebby
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Good news for investors in Dubai Marina and the Palm:

Dubai Municipality to complete new road network at a
cost of Dhs611 million

...
.... one of the new interchanges would be built in Al Safouh
Road consisting of fly-overs, tunnels and ring roads that allow
free traffic flow around the Dubai Pearl project. This project alone
will cost Dhs178 million
and is expected to be over by February 2006.
The second interchange would be located between the
Interchange No.4 (Police Academy Interchange) and
Interchange No.5 (Dubai Marina Interchange) on Sheikh Zayed Road.

http://www.ameinfo.com/news/Detailed/54370.html

Last edited by ebby; February 21st, 2005 at 10:39 PM.
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Old February 26th, 2005, 10:35 AM   #62
hg3z15aa_1
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i want to ask all hwo nows much about dubai. pleas...

i want an apartment in dubai, so what is the best homesides to find apartments or villas in dubai or sharjah.

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Old February 26th, 2005, 01:03 PM   #63
ebby
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Quote:
Originally Posted by Nazim
where will the Dubai resale & Rental Property Show be held???
Will there be exhibitors of NEW projects there as well??

Do you think this is a show visiting for someone interested in buying an apartment??
Hi Nazim,
There is a "Home Owner Dubai" exhibition at the Madinat Arena in
the Madinat Jumeirah complex. Opened Feb 26th, for a duration of 3 days.
There are showcases of new properties from various developers.
For more details check out this link:

http://www.strategiy.com/inews.asp?id=20050226001727
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Old February 26th, 2005, 02:57 PM   #64
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UAE real estate market set to grow manifold

The real estate market in the UAE is set to witness an enormous growth rate in the next seven years and will touch an estimated AED230 billion-mark (US63 billion dollar) in value.

Dr. Mohammed Raheef Hakmi, Chairman, Armada Group.
This is well above the total value of the real estate market achieved over the last two decades.

"This growth will be made possible on the back of several regional and global factors. The chief among these factors will be the sustained uptrend in current international oil prices which lead to the availability of surplus funds especially with the GCC governments. These funds are mostly invested in government-sponsored development projects including infrastructure. Real estate one of the key areas these funds ultimately are directed at," according to Dr Mohammed Raheef Hakmi, Chairman, Armada Group, leading real estate investors in the UAE.

http://www.ameinfo.com/news/Detailed/54643.html
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Old February 26th, 2005, 03:46 PM   #65
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I am interested in properties prices in Dubai.
Now , in Dubai Marina and Jumeirah Lake Towers , what about the prices of sq feet?
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Old March 2nd, 2005, 06:17 AM   #66
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Dubai crackdown on con-artists

Dubai is taking strong measures against con-artists hoping to exploit interest in the booming property market, and has jailed one scammer. Briton Maz Akhtar tricked investors by offering them fictitious properties in a Dubai investment project, the Seven Wonders of the World. Akhtar also sold non-existent European property, through his company HK Inversiones.
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Old March 3rd, 2005, 07:36 AM   #67
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i am not very sure how dubai is moving, i mean, living here is pretty cool, cause u know the whole is watching and admiring dubai for what is it doing, however, lets look at this way,
I decide to buy a house (ie. $1 million) as an investment, i put a down payment , get approved get the house
wait a month of 2
sellf it for lets a profit of 20% ( ie $1.2 million) , thats the average profit range here in dubai for investment, assuming i bought the villa when it was first annouced,

i pay the bank back, i get my 200,000 profit, and everyone is happy,

however, the person who bought the villa from me, is gonna do the same, hoping for maybe selling parive of 1.4 million, assuming he does so, he is happy, bank is happy, but the cycle repeats it self , we are gonna each a limit (ie $2 million) , person X has put dont a huge downpayment, his villa is not selling, bank is asking for its money, X doesnt have it, X is forced out, Bank takes over, however, bank cannot use the villa cause no one wants it, (too expensive) ,
bank is left with 2 million dollar villa that is useless,
now multiply this by the thousands and thousands of villa's apartments, and projects in dubai, this will eventually, cause an economic crash, the whole economy will crash if banks go bankrupt, and i am afraid this might happen, hoping that it wont, however, something has to be done. . . .
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Old March 3rd, 2005, 08:38 AM   #68
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Dubai R&R Show on March 24

3 March 2005

DUBAI — Dubai Shows, a property exhibition company, has announced an exhibition called 'Dubai R&R — The Resale and Rental Show', to address the concerns regarding resale and rental market in Dubai.

It is the UAE's first exhibition dedicated to resale and rental properties and will offer local developers and estate agents a unique opportunity to showcase their portfolios under one roof.

The Dubai R&R Show will be held at the Crowne Plaza Hotel on March 24 and 25.

Mike Bridge, regional sales director of Dubai Shows, emphasised that the exhibition was designed to make a difference to Dubai's property rental market, as well as its newly emerging freehold resale market.

He said: “The exhibitors participating in Dubai R&R will have three benefits, they can sell their freehold properties, lease out their rental properties, or procure properties from landlords and investors.’’

He confirmed that several property agents like Asteco, Pegasus, Landmark, Dubai Land, Paradise, Vista and City Tower are participating in the event.
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Old March 4th, 2005, 07:17 AM   #69
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Dubai to host UAE's first resale and rental show

Dubai : The UAE's first exhibition dedicated to resale and rental properties will be held in Dubai.

Property exhibition company Dubai Shows has announced Dubai R&R, the resale and rental show, will offer local developers and estate agents an opportunity to showcase their portfolios under one roof.

"The exhibitors participating in Dubai R&R will have three benefits: they can sell freehold properties, lease out rental properties, or procure properties from landlords and investors in an interactive and innovative fashion," Regional Sales Director of Dubai Shows, Mike Bridge, said.

"As many residents now make decisions browsing through realty classified advertisements, this is a forum to make it all come alive," he said.

He said several top companies like Asteco, Pegasus, Landmark, Dubai Land, Paradise, Vista and City Tower will attend the event.

Jane Woods, Manager of Asteco, said: "We understand only too well that in a busy city like Dubai, residents don't always have the time to scour the market and study the options available to them before they make a decision to move house. We will be showing ways in which Asteco can assist both the tenant and the landlord with various services and products. For Asteco, the event is an obvious and comprehensive location to reach people who are interested in property in Dubai."

The Dubai R&R Show will be held at the Crowne Plaza Hotel on March 24 and 25 to maximise convenience for visitors. The official media sponsors of the event are Gulf News, Dubai Eye and IN TV.
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Old March 5th, 2005, 08:55 PM   #70
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Quote:
Originally Posted by DarkBlueBoss
i am not very sure how dubai is moving, i mean, living here is pretty cool, cause u know the whole is watching and admiring dubai for what is it doing, however, lets look at this way,
I decide to buy a house (ie. $1 million) as an investment, i put a down payment , get approved get the house
wait a month of 2
sellf it for lets a profit of 20% ( ie $1.2 million) , thats the average profit range here in dubai for investment, assuming i bought the villa when it was first annouced,

i pay the bank back, i get my 200,000 profit, and everyone is happy,

however, the person who bought the villa from me, is gonna do the same, hoping for maybe selling parive of 1.4 million, assuming he does so, he is happy, bank is happy, but the cycle repeats it self , we are gonna each a limit (ie $2 million) , person X has put dont a huge downpayment, his villa is not selling, bank is asking for its money, X doesnt have it, X is forced out, Bank takes over, however, bank cannot use the villa cause no one wants it, (too expensive) ,
bank is left with 2 million dollar villa that is useless,
now multiply this by the thousands and thousands of villa's apartments, and projects in dubai, this will eventually, cause an economic crash, the whole economy will crash if banks go bankrupt, and i am afraid this might happen, hoping that it wont, however, something has to be done. . . .
What you have described is what's called speculation, but you're assuming
everyone buys to sell in the short term for a quick profit. You are also
assuming that the banks lend without checking their client's
ability to pay back their loan. This is not the case.
But your main point about the danger of speculation is valid, and now the major developers are trying to attract long term investors and make it
tougher for the speculators. Check out this link:

http://www.ameinfo.com/news/Detailed/54642.html
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Old March 7th, 2005, 06:26 AM   #71
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The repayment structure here in Dubai limits speculation because you have to pay a lot of money up front and wait a long time to get a return, because, realistically to sell on for a profit you have to wait until close to completion. An investor will not buy "off plan" from you at a 20% premium when he can buy direct from the developer cheaper. Of course this is the Middle East and normal investment guidelines are sometimes ignored due to the high amount of expendable funds held by certain individuals. These people however tend to buy the whole building not individual apartments. There will come a time when supply exceeds demand and some people may be left with apartments they cannot sell for the profit they had hoped. In the next few years a lot of new buildings will be completed and I think that the market will become more active with buyers purchasing completed apartments for their own use and this will soften the speculation further. The rule is if you are an individual, do not buy anything you cannot afford to keep!
At the moment though the growth of Dubai is being limited by the lack of accomodation. This I think, is destined to continue for some time yet.
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Old March 7th, 2005, 05:49 PM   #72
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All I want is the opportunity to buy something from the developer, LOL. "Sold out in 30 hrs". Perhaps, then, I find out some guy in Taif bought three floors! Plus, another from Kuwait, buying 10 apts, etc.

Understand, I'm a strong advocat of what's happening in Dubai. I make people sick, because I'm always "selling" it! Dubai this-Dubai that. But, this whole "right hand feeding the left" is way too obvious. There are plenty of people wanting to buy, and make Dubai there home. Like me! But I have to go search for some idiot who's trying to sell a property that is way over inflated! I mean...c'mon now.
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Old March 8th, 2005, 10:18 AM   #73
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Property visa concern

UAE based lawyers say that some developers in Dubai are advertising residency visas as part of property purchases even though there is no specific legislation in place covering such agreements, reported Gulf News. Property experts say that residence visa issues will increase once speculators leave the market and that a free-hold property law is needed.
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Old March 9th, 2005, 06:17 AM   #74
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How high can Dubai property prices go?

The many announcements of new massive property projects in recent weeks seem at least partly designed to put a ceiling on booming rental and capital values in Dubai. But is the promise of new supply in the future going to affect supply and demand today?

The Dubai Government seems to have been pulling out all the stops to keep the local property boom from getting out of hand.

A slew of major project announcements - from the Dubai Waterfront mini-city near Jebel Ali to the 250-tower Dubai Business Bay in the downtown - appear to be aimed at keeping the market well supplied and therefore to prevent rentals and capital values getting out of hand.

The last thing Dubai wants to become is an expensive place to do business. The emirate grew by being a highly competitive, low-cost business location and would not want to become overpriced like certain Asian markets.

Indeed, there are some signs that price increases are now more muted and that the re-sale market is cooling down. From the rental cost perspective there has been some market resistance to price increases, though often people are accepting smaller accommodation to meet their budget.

However, there is still a time-lag between these massive new developments and the demand for property. The supply is coming tomorrow. The demand is there today.

With this supply and demand position it is impossible not to conclude that the cost of buying property and the cost of rentals will both continue to rise at least until this new supply begins to become available.

Of course, by then the demand for property may be bigger again, and the whole supply/demand equation will have shifted in the direction of permanently higher prices.

This has already happened. Some top local estate agents thought the Jumeirah Beach Residence project might flood the market with apartments, but few hold that view today and prices for the original buyers are three times what they paid. Now the argument has shifted to the tertiary tower developers. But will that be proven wrong too?

Eventually the supply and demand position in Dubai will top out, and then the market will undergo a correction. But with rental and capital values rising at the same time, as they are currently there is nothing immediate to worry about.

Only when rental yields collapse, as the have done in the UK over the past few years, should buyers start to become concerned. We are just not there yet!
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Old March 14th, 2005, 03:25 PM   #75
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So all in all it's a dog eat dog world? For example, a person (individual) buys an apartment hoping to get a decent return. Although the current market seems to suggest that it is possibe because demand being greater than supply. However in 2 years time when a majority of developments are due to start being completed, the supply is likely to be greater than demand. So individual investors like my self are likely to be left with a deficit!
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Old March 14th, 2005, 10:52 PM   #76
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Home Finance for Freehold Properties (Just 20% deposit required)

Just visited www.gowealthy.com after reading on http://www.ameinfo.com/news/Detailed/55698.html that "Gowealthy.com, a website for freehold properties in Dubai, has tied up with Tamweel to provide home finance for its clients. Tamweel will offer its range of Sharia'a compliant finance products to buyers of approved freehold projects in Dubai at competitive rates and terms".


Tamweel Home Finance

Gowealthy.com and Tamweel, one of the largest mortgage companies in the UAE, have tied up to bring you more home financing options. Tamweel offers a wide variety of products that include financing properties under construction as well as completed homes.

Tamweel offers Sharia'a compliant products with flexible and fixed profit rates. Products offered by Tamweel are:

Home Builder (For homes under construction)
Home Owner (Ready property on deferred payment terms)
Flexi Rent to Own (Installments on flexible profit basis)
Flexi Lease to Own (Installments on fixed profit basis)
Eligibility

Tamweel Home Finance is available for UAE residents and non-residents, salaried and self-employed. Eligibility details are as follows:

Minimum age is 21 years
Maximum age is 60 years upon maturity of financing
Resident Salaried applicants: minimum monthly salary AED 10,000
Non-resident salaried applicants: minimum monthly salary AED 15,000-20,000 (GBP 2,144 - 2,858; USD 4,088 - 5,450)
Self-employed: operating a successful business for last 2 years

Approved Properties

Tamweel Home Finance is available for properties from the following approved developers:

NAKHEEL All Projects
EMAAR All Projects
ESTITHMAAR Jumeirah Beach Residence
ABER Dubai Arch Tower
ASAM Green Lakes
DEEYAR Al Seef Tower
IFA Golden Mile and The Palm Residence


Home Finance Features

Tamweel home financing is available for a minimum amount of AED 180,000 (GBP 25,715; USD 49,048) for UAE Residents, and a maximum amount of AED 5 million (GBP 714,286; USD 1,362,398) for non-residents.

* Conversion rate used 1 GBP = 7 AED; 1 USD = 3.67 AED

Key features of Home Finance are as follows:

Down payment of 20%
Competitive Flexi and Fixed profit rates based on reducing balance
Loan tenure is 25 years, 15 years for fixed rate profit
Payment through monthly post-dated cheques or standing instructions
Arrangement fee of 1.25%

Wow, with such a great deal, I'm gonna apply asap!
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Old March 15th, 2005, 01:00 PM   #77
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I think you're a bit too young for their liking: min age 21!
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Old March 15th, 2005, 01:30 PM   #78
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Damn!
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Old March 18th, 2005, 10:05 PM   #79
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Buying an Aparment in Dubai Good or Bad idea?

Hey all,

I am thinking of purchasing an apartment in Dubai but with a certain budget limit. I am still thinking about if its better for someone to rent it out or if i should live there if i can find some sort of job. I was hoping for your advice, do you think if i buy it in the next year or so, would it go up in price and can be sold for a nice little profit in say a few years time maybe 5-10 even. Also what is the best and cheapest areas to purchase an apartment/house.

Il be greatful for your advice and also what are the chances of someone from the UK who is from a pakistani background of getting a job over in Dubai with a decent wage which will last me. I am 18 years old and have got qualifications at say high school level and maybe soon to be college level.

Cheers
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Old March 19th, 2005, 02:00 PM   #80
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Well do you have a UK passport? If you do your salary will be higher, but you have better chances of having a good job if you have a uni degree
Cheapest apartments are in International City or the Greens
Some people say the market is in for a crash, I think prices will still go up until the 2006-7 period, then they will either stop rising or rise a lot slower than they do now.
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