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Discussion Starter · #1 ·
Make sure you guys watch ch9 Getaway tonight at 7;30. there doing show from Dubai!!
 

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Yeah I was planning to watch that. Hopefully we'll lean more about Dubai from that. I wonder if they'll mention anything about the Dubai Tower?
 

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they had an awsome model of barj dubai but they seid it was going to be appx 1.6km tall but thats not true??? it could be becouse no one knows the exact height maby a 1km spire
 

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Maybe they got told 1 kilometre and an american thought 1 mile was said???
 

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I can see what Dubai is trying to do but I think one of the major factors that MAY contribute to a potential lack of success is its CLIMATE.

I've looked at the figures.

Who wants to be in a place where the average max in Summer is around 45C, with overnight "lows" of 30C with stifling 90% humidity? I have friends there and they just desert the place during the Summer.

It's just too much.

Las Vegas gets hot but does not suffer the humidity of Dubai.

Can they air condition the entire country? Probably!

I really wanna see this 1600m tower. What can you do with the upper floors? They look as large as my lavatory!

Cheers,

Adam
 

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The most appealing thing about Dubai? I can fly there from Melbourne direct, and then fly on to countless destinations in Europe.

that's about it.
 

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Discussion Starter · #9 · (Edited)
i like Dubai because it has lots and lots and lots of reeeeeally tall buildings! the reason why im on these forums.
;-)
they have the $$$$ to do what they want. some exciting projects coming up.
the temps sound like a worry. ill be sure to visit in winter then.
cheers
 

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I've a better idea.

Let's charge them $50 per kilo for lamb. Then we'll be as rich as they are :) :) :)
 

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Discussion Starter · #12 · (Edited)
do you? thats nice. i added the bit about being hot, instead of posting another reply.
anyway

now thats a boulevarde!



bit of construction going on.

dubailover




Dubai, the city that cares


Dubai is going to be a skyscraper fanatics fantasyland in a few years.

 

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Adamonline said:
I've a better idea.

Let's charge them $50 per kilo for lamb. Then we'll be as rich as they are :) :) :)
when was the UAE richer than australia? last time i checked its gdp per capita was $29,100 compared to aust $32,000
 

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I love it, go the big massive road with plenty of lanes right down the middle of the city :)
Sure beats Brisbane and its retarted 1 way alleys everywhere in the CBD :D
 

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Dubai Dreams for Aussies

With capital appreciation at 18% and rental yields running at 15%, the United Arab Emirates state of Dubai is becoming one of the World’s investment hotspots. But how easy is it for Australians to invest?

Dubai has embarked upon some of the most daring construction developments in modern times. Dubailand is bigger than Disney Land, with six themed worlds and over 200 individual entertainment projects, while Hydropolis will be the World’s first underwater hotel.

These mega structures are bringing jobs to the region and attracting tourists (the number of visitors is estimated to increase from 5 million to 15 million by 2012) which, when combined with the influx of enterprises moving into the region, has resulted in a massive boom in residential property build and a situation where demand outweighs supply. As a result rental yields and property prices are soaring.

Why Invest?

Capital appreciation was around 18% in 2004 and, as an estimate on your return if you were to sell, many of the off-plan purchases have literally doubled in price between commencement and completion. Unlike the Australian market, Dubai rental returns have been running constant at around 15%. This is exemplified by the Government’s recent intervention to cap rental increases at 15% to the end of 2006 in an effort to slow the speed of inflation created by the short property supply.

In addition to the promise of high returns, Dubai offers investors a tax free environment. It is not a tax haven, but simply a country with no tax or tax department. The price of property is also more affordable than Hong Kong and Singapore, which have to date attracted Australian investment due to their tax status.

To buy a 100m² unit on the waterfront of the prestigious Dubai Marina will cost approximately $260,000, whereas a similar property in Singapore would set you back around $1,000,000. This relatively low property price makes the entry accommodation affordable, and without the taxation of 48c in the dollar you can see why interest in Dubai’s property market is rapidly gathering pace.

Location, Location, Location

With so much development on-going in Dubai where should you buy? Currently the most sought after locations include Dubai’s Marina and the Palm Islands, a palm-shaped development of 3 islands where numerous celebrities are believed to have purchased property. While the cost of a villa on the palm can be as high as $6 million luxury apartments in flagship developments like The Torch on Dubai’s Marina can be purchased for $302,000, with investors having access to the same facilities you would expect in a five star hotel.

What’s the Catch?

To date it has not been possible for a foreign national to own the freehold on a property in Dubai. This situation is now changing however as a statement in March announced the finalisation of the land registry legislation. With this hurdle removed, the only real obstacle to investing in Dubai is that you will need to have cash ready to invest. In Australia, mortgages for overseas property are not readily available and Dubai’s developers require payment by completion to fund the construction of their development. Therefore property is typically purchased and paid for over the term of the build. Your upfront costs will be around 20-30% of the purchase price, with monthly instalments throughout the term and a final payment upon completion. It is worth looking around for different finance options however as some developers have created their own schemes which are more flexible, for example, Dubai Select, a developer who has recently launched in Australia, offer a payment plan which lets investors pay in quarterly instalments.

Whilst few banks are offering finance on property in Dubai at this time, it is likely to change now that the land registry legislation is now being finalised. On the positive, the apparent lack of finance options is helping to keep prices low. The message seems quite clear - the best returns are going to be to those who get in early. Once mortgages are available and the ability to purchase property becomes more accessible, it is anticipated that prices will escalate.

Why Invest: In a Nutshell

All master-planning is Government controlled so the demand to supply ratio is managed, thus maintaining strong growth & returns
No capital gains or income tax.
The range of properties on offer is vast.
The quality of build is high.
Legal fees aren’t compulsory, but recommended.
The buying process is simple.
Flexible payment plans allow payments to be deferred following an initial reservation deposit.
80% of property available is still off-plan which means investors can purchase on attractive interest free instalments.
Prices are attractive and very affordable by other countries standards.
Capital Appreciation has risen between 15 - 25% annually.
High rental yields on completed properties.
Three year resident visas are available with non-UAE.
 

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CULWULLA said:
Make sure you guys watch ch9 Getaway tonight at 7;30. there doing show from Dubai!!
yeah I remember catrina was over here about 3 years ago , it would be intresting to see how they compare the 2 shows seeing as the city has changed so much since i have been here for 3 years
 

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CULWULLA said:
Make sure you guys watch ch9 Getaway tonight at 7;30. there doing show from Dubai!!
I made sure to miss it.
 
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