Property & Investment in Dubai: Your questions about the market

[unknownpleasures]

Originally Posted by True Blue

The property laws that have been introduced to date have favoured the developers allowing them to bully the investors and take their properties from them. Developers get to cancel contracts and pocket the money despite being years late.

On balance, investors were probably better off when it was unregulated. Anyone considering buying off plan today must be crazy.

agree!

[unknownpleasures]

Hopefully everyone is aware that this proposed new law, if it is eventually introduced, protecting investor's is not retrospective ....it doesn't apply to anyone who purchased back in 2007 and prior and it will only apply to new purchases. This is how it was portrayed by a law firm and reported by the media.

[Green Hornet]

Originally Posted by UAE Investor

Off plan is not dead,I have registered with the new development in downtown the new address building being launched soon.

Will probally be sold out in 30 minutes ,at 2000aed psq ft....

It's private developers who have lost trust,not government owned develpers..IMO!

Wow there are still people buying off-plan in Dubai and from the biggest crooks of them all.
Amazing.

[True Blue]

Originally Posted by metlofts123

Agreed, off plan is long dead. But surely unless they change their tune pronto and make a long overdue start at considering investors interests and other such basic factors as simple justice and control of market players, surely the whole market's potential will continue to be unnecessarily subdued other than the occasional flurries by some unaware (yet clearly completely unprotected) investors?

They can't reverse the balance of power in favour of the investor simply because most of the biggest players on the market are State owned.

Nakheel are in a massive mess and have failed to deliver on many fronts. It will take at least another ten years before they get back on track. New projects get announced all the time, yet Palm Jebel Ali and 30% of Palm Jumeirah lay in abeyance. My faith will be restored when they start addressing the current tranche of problems and stop creating new ones.

[v8_]

Originally Posted by unknownpleasures

Hi there, I'm just wondering whereabouts in Dubai all these happy people purchased. I must have been away when the news broke......

Well, such stuff is not a meant for news headlines.. Scroll your contacts who've purchased property in 2011-12, you'll clearly notice a mean grin on their face when discussed about dubai property mkt.
If none in your contacts, you can meet me then for the cause
Fingers crossed, I'm at 15% capital gain in 6 months with 8% rental return on investment. It's the least, my contacts are even at 30-35% CG who invested earlier

[UAE Investor]

Originally Posted by Green Hornet

Wow there are still people buying off-plan in Dubai and from the biggest crooks of them all.
Amazing.

Actually i got knocked back by e-mail today from Emmaaaarrrrrr......

Dear Valued Customer,

Thank you for interest in The Address Residence Fountain Views, and for registering for the launch of this prestigious address, the newest addition to The Address Residence portfolio.

We have to advise you that the project has elicited very strong market interest and inventory is limited. Therefore we are unable to offer you an appointment for this launch.

We will keep your details on file and will ensure that you are contacted when new units matching similar criteria become available.

Again, thank you for taking the time to register for The Address Residence Fountain Views, we apologise that we are unable to facilitate your request at this time.

Kind regards.

Yours faithfully,

Emaar Properties PJSC

Toll free: 800-EMAAR (36227)
International: +971 4 366 1688
Fax: +971 4 366 1511
www.emaar.com

No worries , i was just tyre kicking anyway...they contacted me first so..!

[Green Hornet]

Originally Posted by UAE Investor

Actually i got knocked back by e-mail today from Emmaaaarrrrrr......

Counting yourself lucky?



Its interesting that off-plan can generate that much interest.

Also that those buying obviously feel the Dubai market is still worth investing in.

[UAE Investor]

Originally Posted by Green Hornet

Counting yourself lucky ?



Its interesting that off-plan can generate that much interest.

Also that those buying obviously feel the Dubai market is still worth investing in.

Absolutely !

At in excess of 2000 Psq ft as well....

Think it would be a different story if it was Nakheel though.....?

ahem...

[unknownpleasures]

http://www.arabianbusiness.com/revea...es-486841.html

http://www.arabianbusiness.com/photo...es-486840.html

REVEALED: Dubai's most expensive property sales

Dubai Marina’s Le Reve Tower
Damac’s Ocean Heights Tower and Bayside Residence
only two villas, both located in Kempinski Palm Jumeirah Residences
excludes residential sales in Burj Khalifa as it is considered a multi-use building.

Doesn't look like DSC made the REVEAL list!

[unknownpleasures]

http://www.arabianbusiness.com/nakhe...ah-486147.html

Nakheel impounds children’s toys on Palm Jumeirah

Debt ridden Dubai developer Nakheel has confiscated a large number of children’s toys lying outside apartments on the Palm Jumeriah.

The company has been made to write down the value of its real estate assets by US$21.4bn since 2008 and has been forced into a US$16bn debt restructuring plan.

It has also been in a long-running battle with its customers on the Palm Jumeirah since December 2011, when it banned more than 1,300 residents from using the beaches and gyms at its Shoreline Apartments residences and claimed it was owed US$20m in unpaid service charges.

[unknownpleasures]

Does anyone have a list of "cancelled" projects in Dubai, if so can a link be provided thanks? All that can be found so far is only "on hold" projects which are not the same......RERA were talking about providing one for years! Haven't seen one yet!

[Pleth]

Originally Posted by unknownpleasures

Does anyone have a list of "cancelled" projects in Dubai, if so can a link be provided thanks? All that can be found so far is only "on hold" projects which are not the same......RERA were talking about providing one for years! Haven't seen one yet!

Rera has a secret list over cancelled projects. projects they claim will be liquidated through court.
I think the Land Department even took all the money from the Escrow accounts.
I heard rumours that is was around 120 projects, but who knows, we are not allowed to see the list.

[unknownpleasures]

Thanks, it's just that everywhere it was mentioned it would be published, even RERA boasted about this being the case!

On a separate note anyone ever been to their office and did they find it to be a waste of time

[UAE Investor]

Released units in Emaar’s new Dubai project sold out in hours
Average price of units in The Address Residence Fountain Views was Dh2,500 psf


http://www.emirates247.com/news/emir...m_medium=email

[UAE Investor]

re this

I complained ... not invited to the sale ( based in the uk ),have POA in Dubai..

"Can you give me contact number of your POA here in Dubai?
He has to come tomorrow at 8am in EMAAR sales office, if you want to buy at low premium.
People are selling tokens today, tomorrow it will be sale at premium.
I will be there at 7.30am."

Quick flip in the off, by the sounds of it !

think there,s profit @ 2500 sqft ?

[unknownpleasures]

http://www.emirates247.com/news/emir...01-26-1.492481

Forty-one per cent of those who voted (167 readers) picked rent as the one that is likely to cause them the maximum damage.

With rents in most areas on the rise, it is evident why it tops the list.

If it's such a boom town at present....what's the excuse of so many projects still on hold!

[True Blue]

Originally Posted by UAE Investor

re this

I complained ... not invited to the sale ( based in the uk ),have POA in Dubai..

"Can you give me contact number of your POA here in Dubai?
He has to come tomorrow at 8am in EMAAR sales office, if you want to buy at low premium.
People are selling tokens today, tomorrow it will be sale at premium.
I will be there at 7.30am."

Quick flip in the off, by the sounds of it !

think there,s profit @ 2500 sqft ?

Don't come crying here when you get burned!

It was speculators and flippers that ruined the market back in 2007-8. No one knew what the real price of anything was at that time due to sheer speculation and avarice.

[unknownpleasures]

Hahahahah.....when you have this here in Dubai already why on earth would anyone dream up of a scam like DSC with all it's bs off plans! The majority of real people got burned big time!

And 15 minutes from Dubai Marina...and you have this....

http://www.jaresortshotels.com/Prope...engeMatch.aspx

[unknownpleasures]

The events Calendar....not one event is featured in DSC...funny that!

http://www.dubaicalendar.ae/en

[True Blue]

Still waiting on a big football event at DSC. They promised great things but nothing yet to draw the crowds.

Well here is a great opportunity. The Old Firm Derby of Rangers v Celtic is rated as the 3rd biggest derby match in the world. Due to Rangers being punished and dropped to the lower leagues, the 2 teams are unlikely to face each other for a few more years. Why does DCS not offer these cash strapped clubs some money to come and play for a challenge trophy? Even throw a few other big names into the mix to make it a crowd pulling tournament, maybe Liverpool and Everton, Tottenham and West Ham. Could squeeze it in during the winter break.

I know there are millions of Old firm fans around the world and also thousands of Rangers and Celtic fans in Dubai alone. So the time is right to steal the headlines. Dubai, are you big enough?