What is September going to bring?
#1
What is September going to bring?
Any views? Boom or Bust for the UAE in September?
From what I have heard, off-plan real-estate is dead although they keep launching, it's a buyers market.
As for the rest of it, impossible to see. Seems quite busy for the summer considering - I don't see the animal dying yet at all. The economic data seems positive with economy trackers all positive etc - although if the US increase rates I think it could deliver a death blow to the currency*
* rising US rates, pushes the US$ up in value. To maintain the peg, UAE would have to increase interest rates at a time when the local economy needs lower rates. If they increase rates, the local costs increase and the AED strengthens relative to the GBP/EUR - making the place even more expensive. It would deliver the another blow to the asset heavy sectors that the economy relies on (e.g. real estate) as well as tourism.
what's it like where you are? My taqado index is still negative, inflation of prices through shrinking of portions continues.
From what I have heard, off-plan real-estate is dead although they keep launching, it's a buyers market.
As for the rest of it, impossible to see. Seems quite busy for the summer considering - I don't see the animal dying yet at all. The economic data seems positive with economy trackers all positive etc - although if the US increase rates I think it could deliver a death blow to the currency*
* rising US rates, pushes the US$ up in value. To maintain the peg, UAE would have to increase interest rates at a time when the local economy needs lower rates. If they increase rates, the local costs increase and the AED strengthens relative to the GBP/EUR - making the place even more expensive. It would deliver the another blow to the asset heavy sectors that the economy relies on (e.g. real estate) as well as tourism.
what's it like where you are? My taqado index is still negative, inflation of prices through shrinking of portions continues.
#2
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Joined: Feb 2011
Posts: 0
Re: What is September going to bring?
We're flat out busy locally. I've done more work locally here than I have in a long time, especially core construction - previous large exhibition based programmes have taken many people but in non-core ares (think: IT / Training / Risk / HR etc).
Developers appear to be booming or busting. We got half a dozen RFPs out of one last week, which is mental for them. Others are offering their staff to us and building nothing - finance issues? deciding to hold back?
So many of the developers are linked to each other and some areas are being scaled back and others pressing on. If developers are releasing building, it means they know they'll sell so there's money somewhere....but, a guy I met a few days ago said they'd (developer) been hit by the multiple angle approach and thinks the combination is far worse than any single element; oil price, Yemen war, Russian money drying up, Chinese money drying up, Indian money drying up, Qatar issues etc.
In 2015 they sold just over 1,000 small villas in 24 hours.
In 2017 they don't, won't and can't get anywhere near that sort of level.
I am ever positive, fortunately India is busy for us, Australia will be too I hope so that should keep me ticking over.
Had Taqado the other night delivered. Ordered extra / double meat, turned up and I have no idea if it was or wasn't extra / double. They go back in the 'don't order' category I think.
Developers appear to be booming or busting. We got half a dozen RFPs out of one last week, which is mental for them. Others are offering their staff to us and building nothing - finance issues? deciding to hold back?
So many of the developers are linked to each other and some areas are being scaled back and others pressing on. If developers are releasing building, it means they know they'll sell so there's money somewhere....but, a guy I met a few days ago said they'd (developer) been hit by the multiple angle approach and thinks the combination is far worse than any single element; oil price, Yemen war, Russian money drying up, Chinese money drying up, Indian money drying up, Qatar issues etc.
In 2015 they sold just over 1,000 small villas in 24 hours.
In 2017 they don't, won't and can't get anywhere near that sort of level.
I am ever positive, fortunately India is busy for us, Australia will be too I hope so that should keep me ticking over.
Had Taqado the other night delivered. Ordered extra / double meat, turned up and I have no idea if it was or wasn't extra / double. They go back in the 'don't order' category I think.
#3
BE Forum Addict
Joined: Jan 2011
Location: Dubai
Posts: 3,467
Re: What is September going to bring?
I'm pretty busy. Had a quiet few weeks but that finished about a month ago and now everyone is on at me, and as ever they want it NOW. Still cruising along tho.
In other news, it was announced yesterday that we have just been bought out for approx. $3.5 Bn. Let see what happens with this lot.....
In other news, it was announced yesterday that we have just been bought out for approx. $3.5 Bn. Let see what happens with this lot.....
#4
Re: What is September going to bring?
It's a shame they are so stingy, as the food is quite tasty.
#5
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Joined: Jan 2011
Location: Dubai
Posts: 3,467
Re: What is September going to bring?
If you order double meat you expect to see meat pouring out of the wrap. That's never the case. I've also noticed a bit of meat to rice swapping. That's poor form. Screwing me on the meat is one thing, but padding it and cheating me with extra rice is simply offensive.
It's a shame they are so stingy, as the food is quite tasty.
It's a shame they are so stingy, as the food is quite tasty.
#6
Account Closed
Joined: Feb 2011
Posts: 0
Re: What is September going to bring?
If you order double meat you expect to see meat pouring out of the wrap. That's never the case. I've also noticed a bit of meat to rice swapping. That's poor form. Screwing me on the meat is one thing, but padding it and cheating me with extra rice is simply offensive.
It's a shame they are so stingy, as the food is quite tasty.
It's a shame they are so stingy, as the food is quite tasty.
We've said it before but paying for guac and cheese and other staple elements of a Mexican meal is a joke.
That being said, the burrito box with rice and small side of nachos to use as scoops was very tasty....but by the time you've added extras and things you are looking at a pretty lumpy amount of cash money for fast food.
Anyway, glad that was the only interesting bit of my post
#9
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Joined: Jan 2011
Location: Dubai
Posts: 3,467
Re: What is September going to bring?
I've seen them both but I'm expecting you are referring to the Jacobs one.... and yeah mega cheese!
#10
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Joined: Feb 2011
Posts: 0
Re: What is September going to bring?
You're not Ch through and through though are you? You're another taken over old British firm, right?
#11
Re: What is September going to bring?
Back on topic.
As you know I work in O&G on the marketing and trading side. Just this week I’ve said goodbye to 9 traders who are relocating. At a buck a ton margin the model just doesn’t work any more.
Indian traders are bringing in more staff to fill out the tenders which seems to be the new model.
Total body count from my friends list now goes over 100 people left since Nov 2014.
I’m just negotiating to move to a new role in SG in October as there’s nothing much here for me now .
As you know I work in O&G on the marketing and trading side. Just this week I’ve said goodbye to 9 traders who are relocating. At a buck a ton margin the model just doesn’t work any more.
Indian traders are bringing in more staff to fill out the tenders which seems to be the new model.
Total body count from my friends list now goes over 100 people left since Nov 2014.
I’m just negotiating to move to a new role in SG in October as there’s nothing much here for me now .
#12
Re: What is September going to bring?
Back on topic.
As you know I work in O&G on the marketing and trading side. Just this week I’ve said goodbye to 9 traders who are relocating. At a buck a ton margin the model just doesn’t work any more.
Indian traders are bringing in more staff to fill out the tenders which seems to be the new model.
Total body count from my friends list now goes over 100 people left since Nov 2014.
I’m just negotiating to move to a new role in SG in October as there’s nothing much here for me now .
As you know I work in O&G on the marketing and trading side. Just this week I’ve said goodbye to 9 traders who are relocating. At a buck a ton margin the model just doesn’t work any more.
Indian traders are bringing in more staff to fill out the tenders which seems to be the new model.
Total body count from my friends list now goes over 100 people left since Nov 2014.
I’m just negotiating to move to a new role in SG in October as there’s nothing much here for me now .
#14
Re: What is September going to bring?
I think Taqado is overated, stingy portions that have been diminishing week by week, stopped using them now!
Thinking about chartering a cargo aircraft to be positioned in Oman to ferry stuff to Qatar, anyone got any cargo they need shifting BE discounts available!!!!
Thinking about chartering a cargo aircraft to be positioned in Oman to ferry stuff to Qatar, anyone got any cargo they need shifting BE discounts available!!!!
#15
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Joined: Sep 2009
Location: Abu Dhabi
Posts: 1,805
Re: What is September going to bring?
I think Taqado is overated, stingy portions that have been diminishing week by week, stopped using them now!
Thinking about chartering a cargo aircraft to be positioned in Oman to ferry stuff to Qatar, anyone got any cargo they need shifting BE discounts available!!!!
Thinking about chartering a cargo aircraft to be positioned in Oman to ferry stuff to Qatar, anyone got any cargo they need shifting BE discounts available!!!!