Le pure

Things really that bad out there? is there no protection out there for that kind of thing

Le pure

Shafted big time in what way?

IndieG

Hey LP,

Welcome to the forum I could be more helpful if you have specific questions - anyway here's my 2p:

1) What is the nature of your business (PM me if you wish). I can tell you whether it would be easy to do the same here or not/or at least be able to point you to some one who should be able to guide you, including the costs of doing business here. Whatever it is, don't opt for an LLC (51% UAE partner!) type of company outside the free zone. Establishing a business in the RAK FZ/Ajman FZ is cheaper than any other Emirate.

2) Is it possible that one of you finds employment temporarily, while the other is setting up business? If one of you has a steady income, then you won't have to dip into your savings whilst your business stabilises/picks up.

3) You may want to invest half your capital in business, invest the rest - speak to a good qualified financial planner (think Meow is one)

4) Do not recommend investing in property in any other Emirate other than Dubai (if you must) - dodgy laws, water/electricity connections iffy (similar shortages in Dubai but not publicised) poor infrastructure etc. If in Dubai, off-plan buying is not recommended (escrow account not withstanding) especially if the developer is not Emaar. At the moment, I personally would not invest in property.

5) There is no protection whatsoever. For e.g. after building the Springs/Meadows communities, the RTA have now decided to build a 6 lane highway cutting right through the residential community! So much for forward planning. Build 5,000 houses with a single road leading in and out of the community, and then find traffic is a nightmare, so create more chaos - build highway - who cares if it happens to be through your pool/backyard - tough. Nah, you can't sue the government here.

Ta
Anya

oktoberon

They bought off plan, so called 1 villa per x sq mtrs. Due to the increased costs of development. The so called 1 villa suddenly turned into 2 villa's on the same plot. Shafted big time. As I said before see what you're buying

oktoberon

Must dispute no. 4 IG Ajman RAK are really looking forward, they will not make the same mistakes as Dubai. When I'm ready it will be RAK and Sri Lanka.. SL now it's still a bargain....

IndieG

Aaah, yes, but who are the developers - certainly not Emaar? What about infrastructure? Where will they get water/power from, finance?? Abu Dhabi has all the money. Dubai is margin trading on it's economy

oktoberon

True IG and the margins get called every day.....

Le pure

Would you say buy property in Abu Dhabi or Barain would be i good place to start?

oktoberon

Sorry buddy...
Can't comment on Bahrain or AD. You need to have a long chat to IG.

Cheers

Dago

I thought you knew what you were doing. It seems to me you have sold up and don't have a clue what to do with it. ..well perhaps you do but have just decided - with no basis that Dubai is where it is at and within a matter of hours are now .....

Anyway good luck - but slow down!!!

rushey

But the villas on the palm have still been fantastic investments havent they ? What have they acheived ? 3 times your money on current prices ? Jebel Ali villas going at 30-40% premiums. I know some of you have the "ah but are they selling them at those levels" attitude. I dont know, all I can comment on is that no one was discounting when I was with the agents last time. It was sticker price or the highway !

You take the risks with off plan buying, everyone knows that, but thats also where the big returns are if you get it right

R.

lionheart

In the words of that song, that was then and this is now...you may easily find property resale values falling in Dubai over the next five years. FWIW I agree that R-A-K and Ajman are better propositions.

Le pure

Its not that i do not have a clue belive me, but this is a new market to me and in which i don't not know how things work, and just because i will be living in Dubai does not mean that i will not look at other opportunities because if i didn't what kind of invested would i be?

but thanks for your concern!

rushey

Falling in real terms or a slowing down of the growth/premiums ?

I can only see the latter, no way for example are those villa's on the palm going to decrease in value as Dubai develops its infastructure.

R.

Meow

Suggest you talk to me. I am an Independent Financial Adviser, authorised to provide advice in the both the UK and UAE.

Good luck with your move