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Old November 7th, 2008, 02:01 PM   #81
Bimcnorth
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Originally Posted by jacobdxb View Post
hear hear, I think Abu Dhabi will fare way better - don't forget that at the moment, Abu Dhabi is creating similar laws to the ones introduced in Dubai to protect the investors, i.e. mandatory escrow accounts etc... (see previous posts in this thread)...
And even more important in my view..the end user market is so far rock solid in Abu Dhabi and still rather ok in Dubai.
These hysterical rants from people that might have gambled without ever thinking that there is a risk involved annoys me sometimes.
Some of my friends in London was like that just last week and when I told them to accept it I was given a ranting how I was sitting there in Abu Dhabi having it nice and cosy bolstered by Oil billions while their Xmas bonuses was at risk, their jobs was disappearing and the value of their houses was falling.

Priceless...

But the subject is rather academic anyway, everyone knows that the Abu Dhabi SWF:s got a preliminary agreement with Dubai meaning that they might take stakes in the main developers like Nakheel etc if shove comes to push in the financial markets.
The corridor between Abu Dhabi and Dubai is short and getting more densly populated every day so in my view itīs wrong to differentiate between them marketwise.
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Old November 7th, 2008, 08:42 PM   #82
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Originally Posted by makerian View Post
I would stay away from any project that's not well under construction. ACI is a marketing machine that's very good at selling their projects and that is never an indicator of whether its a good investment.
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Originally Posted by whizkid01 View Post
Look for cherry pickings. I got an apartment at Al Raha for AED 1,300. Yup you read that right.

I got another at Sun for AED 1,700. I will wait to lease them out. The rental market is crazy currently, but 1 bed on Al Reem should settle at 1,50,000. Anything above and tenant would be dumb enough to not buy one rather than renting.

I am dealing with Asteco and Better Homes. I read Asteco's research piece and is well written. Does anybody know the Abu Dhabi researcher for Asteco, would be great to speak to him.
Guys thanks for the advice. I think your right - I feel a little uncomfortable buying into a project that has not even had a hole dug in the ground yet, and it seems there are plenty more good bargains out there. Where do you guys manage to find such great deals? I am constantly harassing many agents but they never seem to email me any decent offers
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Old November 8th, 2008, 09:26 AM   #83
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No good deals? what about AlReef villas at 900 AED per SqFt. Ready next year that will yield huge rentals!

Just look at what happened to the Dubai Villa market compared to apartments!
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Old November 8th, 2008, 02:54 PM   #84
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No good deals? what about AlReef villas at 900 AED per SqFt. Ready next year that will yield huge rentals!

Just look at what happened to the Dubai Villa market compared to apartments!

Good point...

I feel that there will be more action in actual homes instead of future projects (that may be delayed or not) and have moved my money accordingly, of course it will not be any dramatic profits but at a time when investors are happy just to avoid losses having a generous yield on your money is good indeed.

Iīd recommend a threeway split (moneywise) just now...1/5 in future projects, 1/2 in actual existing homes yielding rents and the rest in ready cash for that golden opportunity that may come along.
Itīs a split that allows you to sleep well at night..
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Old November 8th, 2008, 05:45 PM   #85
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No good deals? what about AlReef villas at 900 AED per SqFt. Ready next year that will yield huge rentals!
Tell me more!
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Old November 9th, 2008, 06:52 AM   #86
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Good points raised. Abu Dhabi and Dubai cannot be compared. If you look from Macro perpective, Abu Dhabi is well planned and the city is building its infrastructure with off plan projects. Dubai went ahead and built everything and then realised .. ooops we forgot to build the infrastructure.

In addition, Abu Dhabi is tightly controlled and the Nahyan clan will ensure that Abu Dhabi emerges as the destination by 2012. The rents will surely come down at lot of locations. The prices may not look justified by 2012 when 349 towers in Mohammed Bin Zayed comes up as this will impact rents. Also the number of people who earn above AED 25,000 monthly would move to Al Raha and Al Reem to rent out or buy there. Thus, Al Reef and other areas will see a drop. If you watch closely, there are lot of people going back. Also the population break out is the key

1) British expats - The teachers and staff associated with military are provided apartments. Consultants are few, but there are good number of valuers. I expect a good percentage of these expats at looking to buy their apartments instead of renting as off plan moves to ready to live.

2) Australian Expats - The number keeps jumping, but its not sizeable. They are mostly in sales and again as valuers.

3) GCC - They are working in different areas at all levels. The difference is that al most all their family members work. Also the new generation is lot professional and is making a good effort. I see the investments from them growing as they have options to own freehold as against leasehold for other expats.

4) Indians - Clearly split between those who came before 2006 and those who came after 2006. Most of the Indians coming after 2006 are financial whizkids. I have seen them in Investment Banks, Wealth Management, SWF, equity research, investments, etc. If these guys stay and not rush to US and UK or back to India when the markets correct, then we should see investments from them. They will be the key as lot of quality Western expats might move back to their home countries as enviornment improves there.

Though, there will be others who love the sun here and thus will stay back and enjoy in the glory before looking to move to Singapore, Hk or Mumbai.

As for finding good deals, I am in touch with 11 brokers and speak to 2-3 new each day. That's the key. Go and call and don't stay with a single broker. I spend 2 hours everyday scanning through newspapers in the evening. 2 months of hard work and then a nice vacation in Bahamas.

Last edited by whizkid01; November 9th, 2008 at 07:00 AM.
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Old November 9th, 2008, 07:57 AM   #87
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Tell me more!
I emailed the info to you on Thursday!
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Old November 9th, 2008, 12:30 PM   #88
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Tried to sell a property in Abu Dhabi recently?

Seen any actually built yet?

Hysterical rant indeed, let see what happens over the next 3 months.

No regualtion, no laws = no quality and no delivery.

How many towers did hydra launch ? 26, how many are they building, actually in process? Do you remember hydra village, whats that i see about 3 year delays and prices to be increased after the deals have been made..... no one yet with contracts.... hmmmm rolling rolling cowboy. ... They finnished building their film studio in LA yet?

AD can change this and learn from Dubai. Regulations, Standards, Escrow. A little bit of Honesty and profesionalism would make a nice change.

You want to invest, invest in completed properties for yeild in Dubai.
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Old November 9th, 2008, 02:21 PM   #89
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Tried to sell a property in Abu Dhabi recently?

Seen any actually built yet?

Hysterical rant indeed, let see what happens over the next 3 months.

No regualtion, no laws = no quality and no delivery.

How many towers did hydra launch ? 26, how many are they building, actually in process? Do you remember hydra village, whats that i see about 3 year delays and prices to be increased after the deals have been made..... no one yet with contracts.... hmmmm rolling rolling cowboy. ... They finnished building their film studio in LA yet?

AD can change this and learn from Dubai. Regulations, Standards, Escrow. A little bit of Honesty and profesionalism would make a nice change.

You want to invest, invest in completed properties for yeild in Dubai.

Itīs funny that I got my contract, some others I know also got their contracts...and as for Hydra they are well ahead on the Business bay projects and most other developments are running on schedule. Even Hydra Village is on schedule.
The only spot where there seems to be delays in handing over contracts is the Hydra Village but they just commenced sending them out last week.


Itīs not that you got some properties in Dubai that you are desperate to off-load or so..?
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Old November 9th, 2008, 05:48 PM   #90
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now now children

na

Last edited by dbxdude; January 27th, 2009 at 09:18 AM.
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Old November 9th, 2008, 05:59 PM   #91
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al reef delayed - 2 years

FYI. Friends of mine recived notice that Al Reef Delayed 2years. Call the developer to confirm before saying you dont belive me.

So dont expect the rental yeild anytime soon. but yes 900 dhs a sft is a steal.
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Old November 9th, 2008, 06:56 PM   #92
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Bimcnorth, by the same token I could ask what your job role in Hydra or which real-estate firm in AD you work at?

If you think Hydra are professional your role must be in PR.

All I’m saying is;

Dubai had to under go a steep learning curb as we all know, i just wish AD didn’t have to make the same mistakes.

My opinion’s expressed here, are merely a way of voicing concerns on this topic.

Who knows maybe if enough people express these concerns they will be addressed. This i think we would all agree could only be positive thing.

Because once you loose the investors, it takes a long time for them to come back and given the current global financial crisis, could very well happen unless they are reassured. I really do believe AD or rather investors in AD are going to be in big trouble soon unless laws are introduced.


And for your reference;

My properties in Dubai are returning a healthy yield, so no i would not sell them, but if you want i have a few apartments in Abu Dhabi im willing to let go

But you do know that Abu Dhabi is implenting about the same property laws as Dubai?, the Al-Tamimi law firm is hired in an advisory capacity so you can give them a call if you are unsure about how and when it will be ratified.

Investors always come and go and these loan based speculations are in some circles being blamed for much of the troubles given that end user demand is so high, I mean..when values was on the up all the time no one was complaining much but now there are moaners all over the place.
The basics of the UAE property market is still very much cash/equity oriented and not affected that much so the locals are rather sanguine about the whole thing in my experience.

In the long to midterm perspective I expect no problems and are rather optimistic but the first half of next year might be rather straining for those that hoped to make profits using leverage as we might see values for parts in approved projects falling while existing properties will benefit.
The upside is of course that the closer they come to actually being ready these homes might see a rapid improvement in value.


So just sit tight and relax...things could be much worse, a friend of mine have just taken one hell of a hit in Manhattan real estate as buyers are simply not getting loans.

Last edited by Bimcnorth; November 11th, 2008 at 01:33 AM.
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Old November 10th, 2008, 10:04 AM   #93
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FYI. Friends of mine recived notice that Al Reef Delayed 2years. Call the developer to confirm before saying you dont belive me.

So dont expect the rental yeild anytime soon. but yes 900 dhs a sft is a steal.
Just called Manazel (developers for Al Reef villas) They said Arabic sector 60% complete. Confirmed to be handed over by December 2009, he said they may be finished earlier May or June but couldn't confirm this.

Doesn't sound like they have any delay at all, let alone 2 years!

Call for yourselves 800MANAZEL

Last edited by Palm-Host; November 10th, 2008 at 10:05 AM. Reason: missed out something
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Old November 10th, 2008, 04:17 PM   #94
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FYI. Friends of mine recived notice that Al Reef Delayed 2years. Call the developer to confirm before saying you dont belive me.

So dont expect the rental yeild anytime soon. but yes 900 dhs a sft is a steal.
Please do not make comments here on here say. Al Reef is being completed in phases. The Arabic phase might be handed over by Q2 2009 or might get further delayed. I drove there and its making good progress, though internal fittings take their own good time.

Certainly Al Reef has good potential as lot of people staying in Sharjah could stay this side and move to Dubai. Certainly if the rents are real .... otherwise we will continue to kill market as Abu Dhabi works on equity and rent does not leave much of that with expats.
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Old November 11th, 2008, 05:01 PM   #95
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Anybody interested in a full floor on Al Reem Island at 0% premium!! yes, no premium and no transfer fee involved. Only 2,420,087 AED to pay now and 2 more similar payments before completion where the remaining 70% is to be paid. pls PM me for details...
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Old November 12th, 2008, 09:07 AM   #96
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Got some great deals on Al Reef Villas and Apartments at the moment. Al Reef and Marina Square seem to be the areas most people are still confident in buying. There seems to be a great numnber of wealthy big investors in Abu Dhabi who are still buying, also there are those putting their prices down to rock bottom. Whether they will sell at these prices is a different matter. People are panicking, the UAE relies on approx 80% investors from outside UAE, this is great when individual countries have a finiancial crisis as their liquidity comes here but when the world is in turmoil we are down 80%. There are some great deals to be had. When people sell, buy and when people buy, sell. [email protected]
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Old November 12th, 2008, 01:04 PM   #97
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Hi Sam, If you know of anybody, who could be interested in a floor as mentioned above your post, pls pm me...
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Old November 12th, 2008, 03:35 PM   #98
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Hi Sam, If you know of anybody, who could be interested in a floor as mentioned above your post, pls pm me...
for that money I'd want more than just a floor...maybe some walls, windows and a ceiling...and some lights, doors, sanitary ware...
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Old November 12th, 2008, 03:52 PM   #99
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for that money I'd want more than just a floor...maybe some walls, windows and a ceiling...and some lights, doors, sanitary ware...
ha ha ha, off course, you'll get that, you'll get a total of 10 apartments.
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Old November 12th, 2008, 11:31 PM   #100
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Al reef

His villa was in contempory. 2 year delays isnt that bad anyway for this region. Today, with hindsight Id take Al reef over Hydra village.
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