Go Back  British Expats > Living & Moving Abroad > Middle East
Reload this Page >

The Dubai Property Collapse Continues...

The Dubai Property Collapse Continues...

Old Nov 26th 2008, 7:16 pm
  #1  
BE Forum Addict
Thread Starter
 
Joined: Aug 2007
Posts: 3,287
admon has a reputation beyond reputeadmon has a reputation beyond reputeadmon has a reputation beyond reputeadmon has a reputation beyond reputeadmon has a reputation beyond reputeadmon has a reputation beyond reputeadmon has a reputation beyond reputeadmon has a reputation beyond reputeadmon has a reputation beyond reputeadmon has a reputation beyond reputeadmon has a reputation beyond repute
Default The Dubai Property Collapse Continues...

Does it? Oh yess..
admon is offline  
Old Nov 26th 2008, 7:18 pm
  #2  
**** it we'll do it live
 
shiva's Avatar
 
Joined: Oct 2004
Location: Dubai
Posts: 7,892
shiva has a reputation beyond reputeshiva has a reputation beyond reputeshiva has a reputation beyond reputeshiva has a reputation beyond reputeshiva has a reputation beyond reputeshiva has a reputation beyond reputeshiva has a reputation beyond reputeshiva has a reputation beyond reputeshiva has a reputation beyond reputeshiva has a reputation beyond reputeshiva has a reputation beyond repute
Default Re: The Dubai Property Collapse Continues...

oh if i'm quick i can get my next remark to dbxdude in.
i think this makes my point
shiva is offline  
Old Nov 26th 2008, 7:20 pm
  #3  
BE Forum Addict
Thread Starter
 
Joined: Aug 2007
Posts: 3,287
admon has a reputation beyond reputeadmon has a reputation beyond reputeadmon has a reputation beyond reputeadmon has a reputation beyond reputeadmon has a reputation beyond reputeadmon has a reputation beyond reputeadmon has a reputation beyond reputeadmon has a reputation beyond reputeadmon has a reputation beyond reputeadmon has a reputation beyond reputeadmon has a reputation beyond repute
Default Re: The Dubai Property Collapse Continues...

Lets get back on track..

This thread should contain no talk of:
- what you've done in the past
- who you've slept with
- how many companies you've built/bought/sold
- stuff you can't or are unwilling to provide proof on

In short, let's keep it on property..
admon is offline  
Old Nov 26th 2008, 7:24 pm
  #4  
**** it we'll do it live
 
shiva's Avatar
 
Joined: Oct 2004
Location: Dubai
Posts: 7,892
shiva has a reputation beyond reputeshiva has a reputation beyond reputeshiva has a reputation beyond reputeshiva has a reputation beyond reputeshiva has a reputation beyond reputeshiva has a reputation beyond reputeshiva has a reputation beyond reputeshiva has a reputation beyond reputeshiva has a reputation beyond reputeshiva has a reputation beyond reputeshiva has a reputation beyond repute
Default Re: The Dubai Property Collapse Continues...

ok its all buggered, the ship is sinking, the rats have fled to the desert, Dubai Inc is bust, the canoe is sinking there are no paddles and there is a big lagoon of poo coming up.

on the plus side the estate agents will flee and property may return to a reasonable price based on reality not the flip flop flipping of the hyper greedy
shiva is offline  
Old Nov 26th 2008, 7:29 pm
  #5  
BE Forum Addict
 
Jeeper's Avatar
 
Joined: Aug 2004
Location: Dubai
Posts: 2,082
Jeeper has a reputation beyond reputeJeeper has a reputation beyond reputeJeeper has a reputation beyond reputeJeeper has a reputation beyond reputeJeeper has a reputation beyond reputeJeeper has a reputation beyond reputeJeeper has a reputation beyond reputeJeeper has a reputation beyond reputeJeeper has a reputation beyond reputeJeeper has a reputation beyond reputeJeeper has a reputation beyond repute
Default Re: The Dubai Property Collapse Continues...

http://www.youtube.com/watch?v=LSJkMBMEwPk

This guy is hillarious....
Jeeper is offline  
Old Nov 26th 2008, 7:30 pm
  #6  
BE Forum Addict
Thread Starter
 
Joined: Aug 2007
Posts: 3,287
admon has a reputation beyond reputeadmon has a reputation beyond reputeadmon has a reputation beyond reputeadmon has a reputation beyond reputeadmon has a reputation beyond reputeadmon has a reputation beyond reputeadmon has a reputation beyond reputeadmon has a reputation beyond reputeadmon has a reputation beyond reputeadmon has a reputation beyond reputeadmon has a reputation beyond repute
Default Re: The Dubai Property Collapse Continues...

Originally Posted by shiva
ok its all buggered, the ship is sinking, the rats have fled to the desert, Dubai Inc is bust, the canoe is sinking there are no paddles and there is a big lagoon of poo coming up.

on the plus side the estate agents will flee and property may return to a reasonable price based on reality not the flip flop flipping of the hyper greedy
Another rumour circling is that the palm deira is now only going to be partly built - which I suppose is nothing new, seeing as its been scaled back so many times in the last 5 years.
admon is offline  
Old Nov 26th 2008, 7:33 pm
  #7  
BE Forum Addict
 
Joined: May 2007
Location: Utopia
Posts: 1,644
benzonar has a reputation beyond reputebenzonar has a reputation beyond reputebenzonar has a reputation beyond reputebenzonar has a reputation beyond reputebenzonar has a reputation beyond reputebenzonar has a reputation beyond reputebenzonar has a reputation beyond reputebenzonar has a reputation beyond reputebenzonar has a reputation beyond reputebenzonar has a reputation beyond reputebenzonar has a reputation beyond repute
Default Re: The Dubai Property Collapse Continues...

Originally Posted by admon
Another rumour circling is that the palm deira is now only going to be partly built - which I suppose is nothing new, seeing as its been scaled back so many times in the last 5 years.
Shurrup, next you'll be claiming that they are holding off building The Universe.

Intersting to see that some of the most exciting designs for buildings have all been shelved now Omniyat have started shedding jobs.
benzonar is offline  
Old Nov 26th 2008, 8:17 pm
  #8  
BE Enthusiast
 
CeeBee's Avatar
 
Joined: Feb 2008
Location: Dubai
Posts: 656
CeeBee is a glorious beacon of lightCeeBee is a glorious beacon of lightCeeBee is a glorious beacon of lightCeeBee is a glorious beacon of lightCeeBee is a glorious beacon of lightCeeBee is a glorious beacon of lightCeeBee is a glorious beacon of lightCeeBee is a glorious beacon of lightCeeBee is a glorious beacon of lightCeeBee is a glorious beacon of lightCeeBee is a glorious beacon of light
Default Re: The Dubai Property Collapse Continues...

Originally Posted by admon
Another rumour circling is that the palm deira is now only going to be partly built - which I suppose is nothing new, seeing as its been scaled back so many times in the last 5 years.
Rumour after rumour. I must say i'm extremely bored of all this sh*t now.

I've still got a job and life is good. Everyone get on with it.
CeeBee is offline  
Old Nov 26th 2008, 8:23 pm
  #9  
Lost in BE Cyberspace
 
shakh your bootie's Avatar
 
Joined: Jan 2007
Location: By the old canal...
Posts: 7,715
shakh your bootie has a reputation beyond reputeshakh your bootie has a reputation beyond reputeshakh your bootie has a reputation beyond reputeshakh your bootie has a reputation beyond reputeshakh your bootie has a reputation beyond reputeshakh your bootie has a reputation beyond reputeshakh your bootie has a reputation beyond reputeshakh your bootie has a reputation beyond reputeshakh your bootie has a reputation beyond reputeshakh your bootie has a reputation beyond reputeshakh your bootie has a reputation beyond repute
Default Re: The Dubai Property Collapse Continues...

OK so I bailed at the right time. Who gives a crap when there's a GP to win???????
shakh your bootie is offline  
Old Nov 26th 2008, 8:38 pm
  #10  
BE Forum Addict
Thread Starter
 
Joined: Aug 2007
Posts: 3,287
admon has a reputation beyond reputeadmon has a reputation beyond reputeadmon has a reputation beyond reputeadmon has a reputation beyond reputeadmon has a reputation beyond reputeadmon has a reputation beyond reputeadmon has a reputation beyond reputeadmon has a reputation beyond reputeadmon has a reputation beyond reputeadmon has a reputation beyond reputeadmon has a reputation beyond repute
Default Re: The Dubai Property Collapse Continues...

Originally Posted by benzonar
Shurrup, next you'll be claiming that they are holding off building The Universe.

Intersting to see that some of the most exciting designs for buildings have all been shelved now Omniyat have started shedding jobs.
Now I could see that never getting completed when they announced it - it ranks right up there alongside the arabian canal.
admon is offline  
Old Nov 27th 2008, 3:52 am
  #11  
Concierge
 
Blue Cat's Avatar
 
Joined: Feb 2007
Posts: 29,625
Blue Cat has a reputation beyond reputeBlue Cat has a reputation beyond reputeBlue Cat has a reputation beyond reputeBlue Cat has a reputation beyond reputeBlue Cat has a reputation beyond reputeBlue Cat has a reputation beyond reputeBlue Cat has a reputation beyond reputeBlue Cat has a reputation beyond reputeBlue Cat has a reputation beyond reputeBlue Cat has a reputation beyond reputeBlue Cat has a reputation beyond repute
Default Re: The Dubai Property Collapse Continues...

Originally Posted by admon
Another rumour circling is that the palm deira is now only going to be partly built - which I suppose is nothing new, seeing as its been scaled back so many times in the last 5 years.
it's been cancelled completely as far as I am aware? they need to their money to kit out that little yacht they brought in yesterday
Blue Cat is offline  
Old Nov 27th 2008, 4:46 am
  #12  
BE Forum Addict
Thread Starter
 
Joined: Aug 2007
Posts: 3,287
admon has a reputation beyond reputeadmon has a reputation beyond reputeadmon has a reputation beyond reputeadmon has a reputation beyond reputeadmon has a reputation beyond reputeadmon has a reputation beyond reputeadmon has a reputation beyond reputeadmon has a reputation beyond reputeadmon has a reputation beyond reputeadmon has a reputation beyond reputeadmon has a reputation beyond repute
Default Re: The Dubai Property Collapse Continues...

Originally Posted by Blue Cat
it's been cancelled completely as far as I am aware? they need to their money to kit out that little yacht they brought in yesterday
I think they are going to construct on the large parcel of land that they have already reclaimed which was to be the 'base' for the palm.
admon is offline  
Old Nov 27th 2008, 5:00 am
  #13  
ex-expat
 
Hello.Kitty's Avatar
 
Joined: Nov 2008
Location: in front of my computer - in sunny Sussex!
Posts: 2,162
Hello.Kitty has a reputation beyond reputeHello.Kitty has a reputation beyond reputeHello.Kitty has a reputation beyond reputeHello.Kitty has a reputation beyond reputeHello.Kitty has a reputation beyond reputeHello.Kitty has a reputation beyond reputeHello.Kitty has a reputation beyond reputeHello.Kitty has a reputation beyond reputeHello.Kitty has a reputation beyond reputeHello.Kitty has a reputation beyond reputeHello.Kitty has a reputation beyond repute
Default Re: The Dubai Property Collapse Continues...

tum tee tum... Dubai Waterfront City staff given 1 months' notice... tum tee tum

As you were
Hello.Kitty is offline  
Old Nov 27th 2008, 5:28 am
  #14  
W10
Guest
 
Posts: n/a
Default Re: The Dubai Property Collapse Continues...

I was wondering what they were going to do with the large pile of rubble, and the hole in the ground that they left in Satwa?

Any suggestions...
 
Old Nov 27th 2008, 5:42 am
  #15  
Gold-Helmeted Member
 
captainflack's Avatar
 
Joined: Dec 2004
Location: Setubal-ish
Posts: 686
captainflack has a reputation beyond reputecaptainflack has a reputation beyond reputecaptainflack has a reputation beyond reputecaptainflack has a reputation beyond reputecaptainflack has a reputation beyond reputecaptainflack has a reputation beyond reputecaptainflack has a reputation beyond reputecaptainflack has a reputation beyond reputecaptainflack has a reputation beyond reputecaptainflack has a reputation beyond reputecaptainflack has a reputation beyond repute
Default Re: The Dubai Property Collapse Continues...

I think dxbdude was a bit confused. He reported that he had 'called the bottom' and the Dow has now risen for 3 or 4 sessions in a row.

I did not have the heart to point out that the Dow is in the USA and not Dubai, and that it has almost no direct correlation to the economy of the UAE. And besides, I suspect we will see a few more hairy moments before the Dow really bottoms out.

I had to laugh when dxbdude mentioned AMEINFO as though it was some kind of reliable news source. There is bloke who was co-founder and a frequent columnist called Peter J Cooper who is an absolute hoot.

http://arabianmoney.net/

Honestly the guy has been relentlessly denying even the remotest possibility of a crash in Dubai for the last 3 years. This is my all time fave, and it's a long list of cluelessness:

http://arabianmoney.net/2008/11/12/u...om-buy-villas/

Buy villas! Please. Please. Please buy my villa. Pretty please.

And then 8 days later:

http://arabianmoney.net/2008/11/20/s...-realty-crash/

"When Dubai’s biggest mortgage lender Amlak Finance announced yesterday that it had suspended all new home loans, it is time to acknowledge what is quite obvious to any observer: the Dubai property boom has crashed. There are no sales, except at very distressed prices, and new project launches have flopped completely this autumn."

No sh1t sherlock! You could not see it a week ago?

He removes all negative comments from his blog too. He obviously subscribes to the UAE version of freedom of the press in which you are free to post absolutely anything you like that agrees with the official line.

Last edited by captainflack; Nov 27th 2008 at 5:47 am.
captainflack is offline  

Contact Us - Archive - Advertising - Cookie Policy - Privacy Statement - Terms of Service -

Copyright © 2024 MH Sub I, LLC dba Internet Brands. All rights reserved. Use of this site indicates your consent to the Terms of Use.