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Old August 20th, 2019, 01:10 PM   #37161
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Quote:
Originally Posted by siamu maharaj View Post
Is it related to the news a few months ago that Buffett is investing in Dubai RE?
This news and any others that I have seen all talk of the start of only brokerage service in Dubai and then in Abu Dhabi by Buffet.
No news talks of investment by Buffet in Dubai. Or I may be missing something.
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Old August 21st, 2019, 03:09 PM   #37162
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https://m.timesofindia.com/city/surat/diamond-baron-flees-after-dubai-banks-file-notices-over-loans/articleshow/70761478.cms

Yet another runner will make it harder for those who stay to get loans.
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Old August 23rd, 2019, 02:39 PM   #37163
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Quote:
Originally Posted by noir-dresses View Post
https://m.timesofindia.com/city/surat/diamond-baron-flees-after-dubai-banks-file-notices-over-loans/articleshow/70761478.cms

Yet another runner will make it harder for those who stay to get loans.
Where do Dubai banks get there monies from to lend to such people,can,t be from UAE tax payers?

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Old August 23rd, 2019, 11:52 PM   #37164
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Originally Posted by noir-dresses View Post
https://m.timesofindia.com/city/surat/diamond-baron-flees-after-dubai-banks-file-notices-over-loans/articleshow/70761478.cms

Yet another runner will make it harder for those who stay to get loans.
Lending rates have started to come down. Prolly in next 3 month there will be significant reduction in lending rates.
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Old August 24th, 2019, 09:08 AM   #37165
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Most Interest Rate Forecasts Dropping—But Don’t Be So Sure
Jul 13, 2019, 10:27am
The interest rate outlook has swung sharply since November 2018, with mainstream expectations now a full percentage point lower than they had been. For short-term interest rates (Federal Funds), the Wall Street Journal’s latest survey of economists shows average expectations of just two percent throughout 2020 and 2021, down from the recent 2.41%. The 10-year Treasury bond is expected to rise just 0.4% over the next two years from the current 2.14%.........
https://www.forbes.com/sites/billcon.../#2820f492267a
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Old August 24th, 2019, 09:18 AM   #37166
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We constantly get the typical happy talk in the local media, and what's missing is to call it as it is.

You can ignore reality but you cant ignore the consequences of ignoring reality
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Old August 24th, 2019, 06:43 PM   #37167
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Media will always do the happy talk, but falling interest rates will help a little.
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Old August 29th, 2019, 09:24 AM   #37168
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For the project Marina 101:
• Media is not reporting anything.
• DLD report is not being updated for a period of around two years. Progress is stagnant at 97.13% for the last two years.
• The developer is not responding to any communication.
• There are a lot of positive hearsays, but none could be confirmed/implemented.
Under the circumstances, a suggestion is being floated to knock the judicial court for a refund.
Can anyone share his/her experience/information on success/failure of any petition done to the court for refund in case of delay in completion of a project?
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Old September 2nd, 2019, 11:26 AM   #37169
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https://www.propertymonitor.ae/dubai-house-price-index/#jumeirah_village_circle

Some good data out regarding what's happening in real estate.
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Old September 2nd, 2019, 11:36 AM   #37170
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https://www.zerohedge.com/economics/dubai-housing-prices-tumble-2008-levels#comment_stream

Even ZH have an article today stating Dubai real estate prices have reached 2008 lows, and the global slow down has not even kicked in yet.

The comments sections are always interesting to read.
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Old September 2nd, 2019, 02:51 PM   #37171
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Quote:
Dubai forms higher committee for real estate to balance market

Dubai formed a higher committee for real estate, headed by Sheikh Maktoum bin Mohammed, the Deputy Ruler and senior property developers that aims to achieve a balance between supply and demand in the sector, Sheikh Mohammed bin Rashid, Prime Minister and Ruler of Dubai said on Monday.

The body will aim to avoid a duplication of projects and ensure their added value to the economy, Sheikh Mohammed tweeted.
Sheikh Mohammed said Sheikh Maktoum will ensure semi-governmental real estate companies do not compete with the private sector and that a strategic comprehensive plan will be developed for all property projects in Dubai for the coming decade.
The latest initiative comes after Sheikh Mohammed published an open letter at the weekend with six main points that addressed government work and ways to improve Emiratisation, services and the country’s economy.
"We are one of the countries that move according to the average economic rates. We are a country that seeks to achieve time-saving economic leaps," Sheikh Mohammed wrote.

"In the next phase, we need [to pitch] quality projects, exceptional ideas to boost our economy. Real estate projects need to control their pace to bring added value to the national economy so as not to become a burden and a source of imbalance in our economic process."

The UAE property market has slowed in the wake of a drop in oil prices, as well as ongoing concerns about an oversupply of properties. Experts however have forecast a recovery on the back of a new immigration regime offering a long term visa for investors, the Dh50 billion Ghadan 21 initiative, Expo2020 and changes to the freehold property law.

In a report last month Dubai real estate listings portal Property Finder said a record number of residential units expected to come online in the second half of the year will push Dubai property prices lower making flats more affordable.

A total of 20,978 residential units were completed in the first half of 2019, according to Property Finder estimates. An additional 38,426 residential units within 152 projects that have at least an 85 per cent completion status as of July, are scheduled to be delivered by the end of the year.

An increase in supply of new homes pushed apartment rents in Dubai down 5 per cent year-on-year in the first half of the year, according to Property Finder. Rents are 21 per cent lower than they were two years ago, according to the portal.

Average apartment prices in the emirate declined 15.1 per cent in the second quarter of the year, compared with the second quarter of 2018 with villa and town house prices dropping 14.7 per cent during the same period, a report by property consultancy Cavendish Maxwell recently said.

Dubai is ranked as the third-most affordable city for prime real estate, with average prices of $600 per square foot, according to Savills' World Cities Prime Residential Index, which tracks 25 major cities worldwide.

"This extension to real estate governance is a very positive step bringing regulation which will cater the supply towards what is going to add value to the client and the economy, therefore limiting the potential of an influx of supply that there may only be limited demand for," said Lewis Allsopp, chief executive of Allsopp & Allsopp. "The interconnectivity of different real estate developments will bring more selection and choice to the market."
https://www.thenational.ae/business/...arket-1.905457

Could be a little too late...
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Old September 2nd, 2019, 03:16 PM   #37172
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Quote:
Originally Posted by noir-dresses View Post
The comments sections are always interesting to read.
It made me cringe so bad it was almost painful. A mix of ignorance, exaggeration and xenophobia, although there were some kernels of interesting stuff in there. This thread tends to give a much more balanced analysis, thankfully.
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Old September 2nd, 2019, 04:59 PM   #37173
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Quote:
Originally Posted by Kyll.Ing. View Post
It made me cringe so bad it was almost painful. A mix of ignorance, exaggeration and xenophobia, although there were some kernels of interesting stuff in there. This thread tends to give a much more balanced analysis, thankfully.
My context of the comments section is more towards the state of people's thinking, opinions, and perceptions good, or bad. It is what it is. They say when you fall off a cliff it's the last foot that kills you.

Regardless this thread is very much more balanced. I alone lately am no longer defending the brand, nor will I give investors cruel optimism.

What I am hoping for is some divine intervention.
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Old September 3rd, 2019, 07:55 AM   #37174
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Originally Posted by DocDubai View Post
A little late, that's the understatement of the decade!!

The sensible approach would have been to put a strict cap on new development and supply back in 2013, something that many of us could see was the obvious solution and restrict new developments to around 2% over current demand. But that never happened and it seems like sell as much as possible and gather 4% taxes in advance was more important.
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Old September 3rd, 2019, 11:55 AM   #37175
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A little late, that's the understatement of the decade!!

The sensible approach would have been to put a strict cap on new development and supply back in 2013, something that many of us could see was the obvious solution and restrict new developments to around 2% over current demand. But that never happened and it seems like sell as much as possible and gather 4% taxes in advance was more important.
The announcement is of the formation of the Committee. It does not talk of the necessary details like the dateline for the Committee to issue its implementation plan, whether the plan issued will be mere recommendations or execution orders, etc.
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Old September 3rd, 2019, 01:05 PM   #37176
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Let's be honest Dubai is not the only place facing head winds. As we speak we're witnessing the world's largest outflow of funds from emerging markets.

We're also seeing record stealth stock sales of the world's fortune 500 movers, and shakers after a decade of buy backs.

Seventeen trillion USDs worth of negative yielding bonds, with an additional one trillion of negative corporate bonds and rising by the day.

Positive side for UK investors is the Pound is dropping, and could hit par with the USD tempting investors to jump ship.

It's all intertwined, and let's see how Dubai performs when the world's economy really starts getting nasty.

Last edited by noir-dresses; September 3rd, 2019 at 01:14 PM.
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Old September 4th, 2019, 07:32 AM   #37177
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https://uk.reuters.com/article/uk-em...-idUKKCN1VN1IR

Like I've mentioned all emerging markets are facing head winds. UAE also cut interest rates, but are pegged to a high USD which in turn makes them more expensive to compete when offering goods, and services.

Another headache is the constantly low price of oil leaving the GCC with ever ballooning budget deficits.

Who also would of thought UAE would be caught in the cross fire of a US - China trade war which is slowing down the world's economy.
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Old September 5th, 2019, 11:28 AM   #37178
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https://www.bnnbloomberg.ca/abu-dhabi-s-aabar-bonds-plunge-on-concern-over-its-finances-1.1310741

Concerns over payment of old bonds, while Abu Dhabi is in the process of issuing newer bonds.
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Old September 5th, 2019, 11:31 AM   #37179
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https://www.reuters.com/article/bank-of-sharjah-bonds/uaes-bank-of-sharjah-hires-banks-for-5-year-bond-idUSL5N25T21T

Even Sharjah are issuing new bonds.
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Old September 6th, 2019, 01:51 PM   #37180
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Now at the drop of a hat home owners downtown
starting September 19th will no longer be permitted to do short term rentals via Airbnb, nor any other platform due to complaints. No worries because Emaar is conveniently starting their very own short term rental service which will be called Ease.

RTA is also shafting UberX to team up with Careem to provide their own services.

Notice the theater keeps getting more crowded while the exit doors keep getting smaller.
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