SkyscraperCity banner

61 - 80 of 92 Posts

·
Super Moderator
Joined
·
11,208 Posts
^^ You should be worried about all projects ... many developers have put many projects On hold but it is still not spoken publicly. I feel it is starting to smell like 2008/2009
 

·
Registered
Joined
·
3,140 Posts
Why do They always cancel the good project:
Jumeirah garden
Jumeirah central
Dubai sqaure
Supply and demand. Although Dubai has growth ambitions, the number of inhabitants can only grow so fast. There is a limit to how many people will buy property in Dubai at any time, particularly luxury property. The same goes for hotels, offices, retail, etc. Without a huge increase in either population or tourism, there simply aren't enough people to fill all the buildings. It seems that for some time, developers have built more real estate than it is feasible to sell, over-supplying the market. Now they are beginning to realize that they can't sell everything they have built - and yet there are plans to build even more. No wonder why those plans are being put on ice, starting with the biggest and most spectacular (and thus most risky) ones.
 

·
Registered
Joined
·
3,768 Posts
^^ You should be worried about all projects ... many developers have put many projects On hold but it is still not spoken publicly. I feel it is starting to smell like 2008/2009
Well, when Gabriel is starting to worry, then the market issue in Dubai is serious. :eek:hno:
 

·
Registered
Joined
·
277 Posts
Supply and demand. Although Dubai has growth ambitions, the number of inhabitants can only grow so fast. There is a limit to how many people will buy property in Dubai at any time, particularly luxury property. The same goes for hotels, offices, retail, etc. Without a huge increase in either population or tourism, there simply aren't enough people to fill all the buildings. It seems that for some time, developers have built more real estate than it is feasible to sell, over-supplying the market. Now they are beginning to realize that they can't sell everything they have built - and yet there are plans to build even more. No wonder why those plans are being put on ice, starting with the biggest and most spectacular (and thus most risky) ones.
What !! So because the supply and demand they replace low rise with high rise

Jumeirah central vs jumeirah downtown

Dubai dont like hard to build project they lookign for less urban planning concept . Just road and tower such as business bay because they don’t want to waste money in thing that don’t make money like good quality pavement or underground parking or good quality public area
 

·
city of the future
Joined
·
1,449 Posts
I do think everything that has started to rise should be ok, but new launches and new areas, like DCH, Jumeira Burj district, b2020 district will be worrisome. This is what I have been saying for many years. just improve and finish projects like BB and DT, DIFC so it created a community, rather than having countless half-finished building sites. Because no one wants to live in a building site
 

·
Dr.Med. Tom Green
Joined
·
5,278 Posts
I do think everything that has started to rise should be ok, but new launches and new areas, like DCH, Jumeira Burj district, b2020 district will be worrisome. This is what I have been saying for many years. just improve and finish projects like BB and DT, DIFC so it created a community, rather than having countless half-finished building sites. Because no one wants to live in a building site
Yes. If everything is as nearly finished as the Dubai Marina then it would be great.
 

·
Super Moderator
Joined
·
11,208 Posts
What really worries me is the current slowdown was expected after EXPO2020, and I work in the industry and I hear how grim it is for everyone right now and I am witnessing a total slowdown in construction, smaller projects are going on hold, some of the big ones as well from Nakheel and DP, the whole Deira Island is now On Hold.

The one good thing is, projects that are in premium areas or with sea view/BK view .. seems to be still unaffected and might still bring sales and interest.

Now one should ask, if this is happening now, when it was expected post EXPO, what will happen then?

Dubai needs to become a city for everyone, with laws that give people living here a sense of home, which will attract more to move and settle in it. lets see what changes the coming 2 years will bring. There is still hope.
 

·
Registered
Joined
·
1,429 Posts
If the tower gets built, Emaar will absolutely need to make money out of people visiting the landmark. I’m not talking about the observation deck, but rather views from below. Retail & F&B will be an integral part of its surroundings. Visitors will want this just as much. The mall will most likely be reconcepulised and redesigned, not that this comes as a surprise to anyone, just a trend of project designs across Dubai.
Emaar achieve this with Burj Khalifa but Dubai Holdings dont achieve the same with Burj Al Arab, hence why the new hotel is being built to block the view from the public beach. With paid access to view the hotel via their Observation deck and F&B offerings from their new hotel.
 

·
Registered
Joined
·
277 Posts
What really worries me is the current slowdown was expected after EXPO2020, and I work in the industry and I hear how grim it is for everyone right now and I am witnessing a total slowdown in construction, smaller projects are going on hold, some of the big ones as well from Nakheel and DP, the whole Deira Island is now On Hold.

The one good thing is, projects that are in premium areas or with sea view/BK view .. seems to be still unaffected and might still bring sales and interest.

Now one should ask, if this is happening now, when it was expected post EXPO, what will happen then?

Dubai needs to become a city for everyone, with laws that give people living here a sense of home, which will attract more to move and settle in it. lets see what changes the coming 2 years will bring. There is still hope.
Nobody will move and settle here without job. Dubai need to create more sectors which create jobs .
 

·
Registered
Joined
·
3,140 Posts
The one good thing is, projects that are in premium areas or with sea view/BK view .. seems to be still unaffected and might still bring sales and interest.
This seems reasonable. "Lower demand than supply" doesn't mean "no demand at all." If 30,000 units are put out for sale, but only a third of them are sold, it's a crisis for the market, but it still means 10,000 sales. They have to go somewhere. In times of slumps, there will still be people buying property, but buyers will congregate around the most attractive areas.

Now one should ask, if this is happening now, when it was expected post EXPO, what will happen then?
I don't think it's completely certain that a slump will happen after the Expo. I think what's happening is that the Expo is getting so close that it's possible to tell with some certainty how the market will behave during it. Companies had high (unreasonably high?) expectations for the Expo, and they're realizing already now that they might not be met. In a sense, this is the post-Expo slump, the market is seeing it coming and reacting already. To use a bad allegory, the sale of snow shovels will not go up during a blizzard, but when it is forecast. So whatever happens post-Expo is, in a sense, happening now instead of later.
 

·
Registered
Joined
·
3,768 Posts
Maybe this is a good market development. I hope it will teach the government and the developers (which are partly owned by the government as well) that they should improve existing urban areas and not start on new giant districts somewhere in the urban hinterland of Dubai. The city has a population of 3 million and its current downtowns are so big in terms of urban area and scale of buildings as if it was a city of about 10 million.

At this point, I would be even more excited to see lots of quality developments in the Downtown Area and in Business Bay (e.g. redevelopment of the rows of parking lots at SZR, lots of new retail and recreational spaces or development of the former Signature Tower plot) than any of those huge new projects like Dubai Creek Harbour or Jumeirah Central.

There is still plenty of space to build landmark buildings like megatalls in downtown, DIFC and Dubai Marina and you don't need a whole new district around them for them to work because they would be built in an existing urban area (and would probably have great Burj Views to boost sales).
 

·
city of the future
Joined
·
1,449 Posts
Exactly on point! The days of giant build from scratch projects are over, and naive developers still think that’s it is feasible, especially in such a competitive market. Dubai has a downtown already and more then enough malls. Right now I would focus on extending the metro even further, creating new lines. Increasing train frequencies. Liven up business bay and downtown, and focus on creating a unique and unforgettable experience. The infrastructure is there, the people are there, why build new area that would be detrimental to both the existing areas and new ones.
 

·
Registered
Joined
·
73 Posts
Exactly on point! The days of giant build from scratch projects are over, and naive developers still think that’s it is feasible, especially in such a competitive market. Dubai has a downtown already and more then enough malls. Right now I would focus on extending the metro even further, creating new lines. Increasing train frequencies. Liven up business bay and downtown, and focus on creating a unique and unforgettable experience. The infrastructure is there, the people are there, why build new area that would be detrimental to both the existing areas and new ones.


Where to build in marina, business bay or DIFC ? No more plot left Habibi. I think dubai is just doing amazing with expansion and new developments but true with people not feeling home with current laws! Understand also it is not easy to keep the safety & culture controlled with current laws & population. Needs more time and studying I guess.
 

·
Registered
Joined
·
73 Posts
OMG why would they do that, first the tower puts on hold and now this :eek:hno:

I'm worried about DCH :eek:hno:


The tower is not on hold! Many stuff you hear over forums are not true!
 
61 - 80 of 92 Posts
Top