Victor Meldrew

It may be a simplistic view of things, but I live on Shk Z Rd, and travel around the area a lot.

I see a lot of cranes around half finished buildings. I haven't seen them moving for a long time, and I haven't seen people working on these buildings either.

Millhouse

What rubbish, it's been 200 villas for the last 3 months (even after the AD split). It jumped to 400 this week.

You can now see 3 bed villas on the island for c.250k, previously they were 350k.

I'm not saying that it will be like Dubai, but the pinch is easing - this can only be as people are leaving as the major projects are delivered.

We let 7 people go this week... 5 of these will up sticks and go back home for sure.

Spugsy

I was in Dubai Mall a few weeks ago in the Quicksilver shop, they have the same stuff as the MOE shop but its about 25% more expensive. Cheeky twats.

saleca

Well our office is closing in Dubai..they have been retrenching from the beginning of February this year. From 200 down to 5 to see things out..each day I wait for my letter.. D day is apparently end of November..rumour has it. The truth is never told upfront. It has been an unbelievably stressful year and there are no jobs our there for my profession..consultancy/construction business. AD and Qatar are also slowing down

Millhouse

sorry to hear that.

I know of quite a few lawyers, investors and advisors are being let go in AD now too, sadly all the industries are interlinked.

Ethos83

I work for one of the following: large architecture/landscape/engineering firm, and while we're getting plenty of requests for proposals for consultancy work, very few of these proposals go anywhere. The clients aren't chosing other firms but they are asking for proposals, seeing what the fees are and keeping the project on hold to see what waits around the corner.

Things are marginally better than a year ago but not by a whole lot.

admon

I'm entitled to my opinion just as you are!?!

Without doubt the market in AD is softening, but on your reasoning of an increase of a small base - well we can all play with numbers to come to a decision that backs our opinion.

MovingToMidEast

Thats exactly the thing that is messed up and greedy. Whenever there is a downturn, companies should definitely make more of an effort to continue with construction or what have you in order to keep people employed!

GingerWizard

We are a long way from recovery here's my take on it
1. Schools on Half-term recently increased tourist numbers in Dubai but they are not well heeled they are average Joe & Jane who order pizza from Pizza Hut for the family in their hotel rooms and dont spend much while their here because they buy the same stuff from the UK retailers at home for 30% less
2. Hotels are still struggling here, occupancy numbers are better but profit margins have dissapeared - still making redundancies from bell boys to GM's
3. There has been a massive increase in existing residents in Dubai moving around town - particilarly to Downtown area from Marina / Bur Dubai / SZ Rd etc. BUT there is still 15 towers (30 storey) that have been completed and being held back from release in Downtown...Jumeriah for example has so many FOR LET signs up now, some for 6 months....WHY - there are newer and better places to live now and still centrally located
4. Shopping Mall traffic is up (especially Dubai Mall) but this is only taking numbers away from DCC / MOE - but check the bags or should I say lack of shopping bags in peoples hands - window shoppers primarily
5. Retailers are really taking a hit here, just saw an Electronics brand (EON I think) closed down in MOE, Festical City & Dubai Mall recently. More people shopping on line....gone are the Shopping Mecca days here unless mall rents are reduced & hence pricing reduced
6. Property sales - knowing several people in Sales here believe me there is very few being sold...hence why papers are now full of rentals...no suprise the Gulf News weighs about 2kg lighter in last 9months
7. Construction work - lots more infrastructrure improvements going on which is great & transport improvements - Metro etc will also be great once its fully open but there are holes being back filled every day on sites, work is now just being done to finish the building off from the exterior then moth ball it until there is someone to buy / rent so it will look completed but empty
8. Taxi - whatever your thoughts on Dubai Taxi's..my god they now turn up now and generally 10mins early with a phone call on route from RTA to confirm you got the taxi ok!! this is almost good customer service
9. Dubai's image overseas - must be addressed, and I dont mean spending millions on Emirates airlines adverts on Sky News Big developers must pay their bills / contractors who are owed money ....otherwise how can you put someone in jail who fell behind on their credit card when these companies owe Billions...doesnt add up!