shandolier

I have heard that a bunch of companies are laying people off but I presume the people will all have flats they will be vacating. Will they or their companies need to rent them out and if so can I rent off them?

Any ideas how to go about finding out about this? I am looking for a 1 or 2 bed appartment in a block (not a villa) anywhere downtown from around Al Wahda Mall down to the corniche really. 160k... Any ideas?

hawkhead

Who?
I've not heard of anyone in AD getting the push yet.
(I'm not saying there isn't anyone, just saying I haven't heard of any, so would be interested to know who is laying off.)

busybee2

hawkhead where have you been, LOR have seriously been getting rid of people and there are others out there as well. The problem is that these leases will prob just go back to the landlord and onto the market, but have been hearing that rents have been coming down defo for apartments in ad and raha gardens 20% so i am told.

hawkhead

Who are LOR?

I just posted on another thread about whether rents are coming down in AD or not - 20%? Well that's a start I suppose. Could do with being at least 50% to get things back on an even keel though!

busybee2

yeh rents need to go back down to 120 for villas like they were before, and everyone was happy. lor is laingorouke

soukie

Don't think any have gone from LOR yet but there are cuts planned and all recruitment has stopped. Other large construction companies are shedding staff too but others have moved staff over from Dubai.

hawkhead

That doesn't sound too bad....so it's not like people are leaving AD in droves then?

busybee2

i know people in lor who have been given notice and they are leaving very shortly, and yes other people who have no work in dubai have been moved to abu dhabi but there are people leaving ad, its just not advertised yet, companies have had to give 1 months notice so some have left for xmas and have not come back and some are coming to end of their 1 month notice period so they will be going very very shortly, i know a few that are in this circumstances believe me.

soukie

It may free up some school places then - I know some families that are still in UK waiting for school places at BSAK & The Pearl. Do you think they stand a chance now?

hawkhead

I do believe you! It's just I've not heard of anyone in this situation myself so I'm interested in hearing from others. How many people do you think have been given the shove?

busybee2

i dunno, are they on waiting list of bsak, if they are, i hope they know that they need to reapply for september come 1st february. pearl who knows, there is a talk that the aussie school is being closed (information from adw) and that aldar may take over that school, so if that is the case and they do take it over and make it into a british curriculum school then that may be another option come september as they wouldnt have the staff to run it now i suspect, as they would need to have uk trained staff etc. but remember that its located in kcb.

busybee2

i personally know a few from lor, and from other companies perhaps in the region of 30. but from one company in dubai (with offices in ad) have given a total of approx 200 staff redundant and probably still the same again

busybee2

do you know of anybody working in construction?

hawkhead

Yep.

busybee2

well there are quite a few companies out there, and they are all being affected in some way or other.