Eeyore

Hallelujah!

Confucius

Ahhhhhhh.....

expat.brat

Right, you will have your response by tomorrow, I'll sit down and do it properly later

Blue Cat

If Diablo wants to live in JBR that's up to him, I just think it is the new Karama.

Eeyore

The new Sharjah, surely?

Confucius

No...Sharjah has character...

Blue Cat

bombay

IndieG

OK - pray please tell me what you know about this wonderful project:

http://www.omnix.ae/news/default.asp...ory=LatestNews

Now here is some information:

Omnix have done a runner. Project repossessed by Tecom and has been stopped.


http://www.dubaipearl.com/ - Strangely you do not find Omnix on this site. Nor does anyone (apart from a few people who provide nonsense replies) know who the &%^^*& promoter is now, and investors are getting very desperate.

Now you please find me one news article informing you of the above.

I know more - but nuff said.........

Anyway, glad you found your nirvana in JBR.

IndieG

LOL, OLD Karama is super POSH compared to Bombay.

But a hole in the wall 800 sft apartment in the suburb Bandra/Khar is worth more than what a 4 bed with "full sea view" costs in JBR It ain't really the apartment, it is the value of the land........

Blue Cat

I know my friend told me that, she is from Bombay, spent an interesting hour over coffee discussing buying in Bombay etc. I was totally amazed. Did your friends find an apartment??

NorthernLad

I do not believe that for one second. They are falling apart, and massively overpriced.

Did Emaar buy them?

Blue Cat

alot of them have been sold, the Deema's went on sale yesterday to the tennants. I thought they were priced in accordance to their other developments?

Border Reiver

Can I just chip in with a couple of thoughts.

Diablo is not Border Reiver (but I do like the way he thinks!) and obviously isn't as busy as Border Reiver 'cos I hardly have time to read the posts, never mind type them!

It is a little bit early to be slagging off JBR as it still isn't finished. IC5 is actually getting better every day as more bits of it open up. When the shopping mall under JBR is up and running, with a few cafes and restaurants, it might actually be quite a nice place to hang around. From what I've seen of it so far I would rather live where I am now but when it is a bit less of a building site I might change my mind. In any case I won't have a definite opinion on that until it is finished.

I don't want to get too far into the demographics debate because I don't have any figures handy. Obviously a large proportion of the population of Dubai are on fairly low wages, that is what keeps the place growing so successfully. However, a large number of the "luxury" apartments are being bought (in my humble opinion, and I don't have statistics to back it up) by people who don't work in Dubai. They are holiday/second homes or are just being used to launder money. Or they are being bought by people who don't want to work in Dubai but do want a visa so they can come and go without going through the hassle of getting a visit visa every time.

The property market in Dubai has a huge catchment area which includes all of Europe and a large part of Asia and you have to include that thought when you get into demographics.

Diablo, karma on the way. I don't think too many other people will be sending you any!

Jammy_Dodgers

I have held back saying this to let everyone say their piece.
















whats an apocalypse??

Eeyore

Yep, only two years late. And late delivery isn't the reason why the market crash hasn't happened yet, oh no.

For once, BR, we're in full agreement

But IC5 has never been the issue in respect of JBR, has it? It's the infrastructure within the Marina and JBR itself. The roads there are simply inadequate, and it's impossible to widen them. A textbook example of lack of forward planning. The completed IC5 will just make it quicker and easier for you to end up in the inevitable Marina/JBR gridlock.

Seriously, all you need to do is take a drive around JBR as it is now to realise that someone screwed up *very* badly when planning the roads. Hell, if you're there during rush hour, you can end up stuck in jams trying to get in and out, and there's no bugger living there yet!

Maybe whoever designed the road system was told that there were only going to be a quarter the number of towers?

Most people here are on AED 3000 per month and less. That's what would be considered near-poverty wages in most developed countries.

Yep, a great many have been bought by ordinary investors, many of them Brits who don't live here, who are intending to rent them out. Who, indeed, are entirely *dependent* on renting them out to cover the mortgage payments. They're the ones who are going to end up shafted.

The number of people who can afford to own apartments here without needing to bring in rental income is small compared to the number who bought with the express intention (and, indeed, need) to rent them out.