The boomtime is back!

Old Sep 23rd 2012, 4:53 am
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Default The boomtime is back!

Units in Emaar's new Dubai Downtown project available at a premium

http://www.zawya.com/story/Units_in_...0120923030204/

Serviced apartments sold by Emaar Properties on Saturday in The Address The BVLD were put up for sale in the secondary market on the same day with a brokerage firm seeking a premium ranging between 12 and 20 per cent.
and this:
http://www.zawya.com/story/Investors...0120921043426/
Though the public launch of The Address The BVLD in Downtown Dubai is scheduled for September 22, people have started queuing outside the Emaar sales office to buy apartments off plan.
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Old Sep 23rd 2012, 5:24 am
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Default Re: The boomtime is back!

Did you see the photos? Apparently genuine investors paid a bunch of labourers to queue for them. Or at least someone did to make it look good...
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Old Sep 23rd 2012, 5:27 am
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Default Re: The boomtime is back!

Originally Posted by Meow View Post
Did you see the photos? Apparently genuine investors paid a bunch of labourers to queue for them. Or at least someone did to make it look good...
I don't blame them ... it was hot yesterday
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Old Sep 23rd 2012, 7:17 am
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Default Re: The boomtime is back!

Originally Posted by Meow View Post
Did you see the photos? Apparently genuine investors paid a bunch of labourers to queue for them. Or at least someone did to make it look good...
The worse from what I understand was that a couple of individuals sent down ten staff.

They only intended to buy one place, and so sold the other nine tokens on at 2% of the minimum value of a place. Money for nothing (and ironically, probably more than those queuing will earn in their lifetimes).
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Old Sep 23rd 2012, 8:03 am
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Default Re: The boomtime is back!

Originally Posted by auzdafluff View Post
The worse from what I understand was that a couple of individuals sent down ten staff.

They only intended to buy one place, and so sold the other nine tokens on at 2% of the minimum value of a place. Money for nothing (and ironically, probably more than those queuing will earn in their lifetimes).
It's deja vu all over again.......... with the same entirely predictable outcome, no doubt.... except that this time round, the banks won't lend so gullibly.......
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Old Sep 23rd 2012, 8:09 am
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Default Re: The boomtime is back!

Originally Posted by The Dean View Post
It's deja vu all over again.......... with the same entirely predictable outcome, no doubt.... except that this time round, the banks won't lend so gullibly.......
Roll up! Roll up! Stay tuned for the incredible Emirates implosion!
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Old Sep 23rd 2012, 9:08 am
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Default Re: The boomtime is back!

To be fair, these are serviced apartments. So they do have a genuine point of revenue generation.

However, that ignores the oversupply situation.
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Old Sep 24th 2012, 9:29 am
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Default Re: The boomtime is back!

It now appears that Emaar were not selling all the units that day. 110 were available, not the 500+ initially reported.
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