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How is everyone holding up?

How is everyone holding up?

Old Apr 21st 2019, 9:24 am
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Default How is everyone holding up?

Hi All,

I have been an expat here in the UAE for over 11 years now, my wife is a UAE Citizen 2 kids and I run my own IT Company.

We had a British Embassy bash a few weeks ago, I was surprised to be told the number of brits here in the UAE has fallen too 100k.Only last year there were 150k+!!

I see things slowing down in AD (Actually near grinding to a holt) where as Dubai is stable-ish.
I love being here however it looks like al blighty is calling me back as I cant sustain the losses so much!

How are you guys fairing up? do you think things will change anytime soon?

Cheers Mac
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Old Apr 21st 2019, 10:12 am
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Default Re: How is everyone holding up?

How did you meet the wife?
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Old Apr 21st 2019, 10:18 am
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Default Re: How is everyone holding up?

In UNI London. She is a Lawyer too here so double screwed! :-/
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Old Apr 21st 2019, 10:46 am
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Default Re: How is everyone holding up?

Originally Posted by Mac89 View Post
In UNI London. She is a Lawyer too here so double screwed! :-/
haha.

Well for for me work has picked up but this is off the back of a terrible couple of years. The banking sector is ****ed though with all the government related companies sucking up all the liquidity meaning there is nothing left for projects or SMEs. Not a great sign.

We we just cashed out on a large IPO in the uae which was great - dunno what follows. Not much I suspect.

My dentist complains a lot about falling patient numbers - he’s pitched up near the ranches.
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Old Apr 21st 2019, 10:56 am
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Default Re: How is everyone holding up?

Banks are merging like mad just to survive. ADNOC etc have all created a new brand and company structure... So all the SME's supporting them have gone bust or floating just to survive if it changes.

Just hoping it picks up soon.... Weathers picking up.... (Lets stay Positive!!!)
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Old Apr 21st 2019, 11:02 am
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Default Re: How is everyone holding up?

Our attention is fixed on KSA. We've got solid work here because of Expo and a few other key clients but don't hear of any big bids locally at all.

Otherwise, as much as I moan about it, much of my work is India / Asia focused and that's going to be keeping me busy too.
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Old Apr 21st 2019, 11:07 am
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Default Re: How is everyone holding up?

Originally Posted by Mac89 View Post
Banks are merging like mad just to survive. ADNOC etc have all created a new brand and company structure... So all the SME's supporting them have gone bust or floating just to survive if it changes.

Just hoping it picks up soon.... Weathers picking up.... (Lets stay Positive!!!)
It’s mental. We can raise debt for projects in Jordan faster and cheaper than we can in the UAE. The expo silver bullet isn’t for another 18mths and Most likely it’ll go the same way as the theme park down there.
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Old Apr 21st 2019, 12:21 pm
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Default Re: How is everyone holding up?

Ah yes the gravy train of EXPO 2020..... I won't comment! But yes a lot of people here are looking abroad to get projects. A lot of companies are outsourcing Tech stuff to India etc etc.
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Old Apr 22nd 2019, 6:30 am
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Default Re: How is everyone holding up?

Yet my landlord thinks an increase in rent of “5-10%” this year is acceptable. What a joker!
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Old Apr 22nd 2019, 6:44 am
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Default Re: How is everyone holding up?

Originally Posted by frequentflyer1234 View Post
Yet my landlord thinks an increase in rent of “5-10%” this year is acceptable. What a joker!
It might be though, I guess. Depends how in demand that sort of place is.

But in reality, it's unlikely. In which case arm yourself with lots of research and mentally prepare to move. It removes the hesitation in your voice when you say you'll stay in the building / area and just move to somewhere identical for x% less. Then point out how much they'll lose in the minimum 1 month it will take for them to refill the place, probably at the same or less than you were paying.

I sort of love the game, but sort of hate every living minute of the moronic negotiation. Thankfully the missus does it and makes it work in her own style.
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Old Apr 22nd 2019, 6:47 am
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Default Re: How is everyone holding up?

Yea the only problem is that the wife refuses to move.

Also the contract expires in less than a month and no new agreement has been reached. If I understand the law correctly, it has already automatically renewed on the old terms.
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Old Apr 22nd 2019, 6:57 am
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Default Re: How is everyone holding up?

We're currently looking and I must say, I was shocked at just HOW much rents seem to have come down. We're going back to a Jumeriah/Umm Suqeim villa and have seen many decent houses at 120k-130k which is less than we're paying for our 2 bed apt . The saving makes up for the increased DEWA usage and even pays for a live in maid.
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Old Apr 22nd 2019, 7:20 am
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Default Re: How is everyone holding up?

Originally Posted by Mac89 View Post
Hi All,

I have been an expat here in the UAE for over 11 years now, my wife is a UAE Citizen 2 kids and I run my own IT Company.

We had a British Embassy bash a few weeks ago, I was surprised to be told the number of brits here in the UAE has fallen too 100k.Only last year there were 150k+!!

I see things slowing down in AD (Actually near grinding to a holt) where as Dubai is stable-ish.
I love being here however it looks like al blighty is calling me back as I cant sustain the losses so much!

How are you guys fairing up? do you think things will change anytime soon?

Cheers Mac
Dont think so.. When I told a few mates I was once again returning to the Sandpit, they were amazed, as they reckoned I would be swimming against the tide of Brits at the airport when I arrived.

Lots of Brit guys on a few FB groups been outta work for a while and still looking, some have accepted their house husband status, and spend their time looking for discounts for just about anything so they can continue to live the Dubai dream..

Its the definition of insanity, but they dont like being told the obvious truth.. Moving home is the only thing you can do, unless you have decided you look good in an apron. Cant understand it myself..

This place will never be home, but it would appear that saving face is a good reason to kill your savings account.
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Old Apr 22nd 2019, 7:29 am
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Default Re: How is everyone holding up?

Originally Posted by frequentflyer1234 View Post
Yea the only problem is that the wife refuses to move.

Also the contract expires in less than a month and no new agreement has been reached. If I understand the law correctly, it has already automatically renewed on the old terms.
Same price it is then. Start earlier next year and start hammering him down.

OR

Try and call a bluff and say the X Month penalty is still cheaper than renewing at his price.

Originally Posted by TheShed View Post
We're currently looking and I must say, I was shocked at just HOW much rents seem to have come down. We're going back to a Jumeriah/Umm Suqeim villa and have seen many decent houses at 120k-130k which is less than we're paying for our 2 bed apt . The saving makes up for the increased DEWA usage and even pays for a live in maid.
I want to move to a villa, but at the moment I walk to work, we share a car and have a lovely landlord.
Moving means increasing rent cost (probably 15-20k maybe) + second car costs (30-40k roughly) + increase DEWA bits (12k a year at a guess). 57-72k increase is hard to justify for a commute, a small villa and the cost of maintaining a garden for a handful of BBQs a year. Better off getting a two bed in the same tower I reckon.
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Old Apr 22nd 2019, 8:52 am
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Default Re: How is everyone holding up?

Wife bought 1 bed off plan in Reem Island Abu Dhabi, 4 years back... delayed for two years just paid under million dhs… Was told she could rent for 85k yearly... She's lucky to get 58k now...

And yes saving face rather than throwing in the towel. I see a lot of stay at home dads dropping there children off at school with there expensive cars. Living on savings... They all worked really hard, However Health insurance got expensive and perks fell through the waste side in December 2017 many were made redundant on Christmas break that year.

Sad really. Especially now every utility's is going up in price instead of down. Cannot see how these guys will survive much longer but hey living the dream!
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