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Tamweel's desperate attempt to keep property prices high for two more years.....

Tamweel's desperate attempt to keep property prices high for two more years.....

Old Feb 4th 2008, 3:37 pm
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Default Tamweel's desperate attempt to keep property prices high for two more years.....

We'll try anything, however unlikely it sounds, said a Tamweel spokesman.....


16:31 04Feb08
RTRS-REUTERS SUMMIT
DUBAI HOMES SUPPLY UNLIKELY TO MEET DEMAND UNTIL 2011 INSTEAD OF 2009 AFTER WORKERS EXPELLED –TAMWEEL

16:31 04Feb08 RTRS-Reuters Summit-
By James Cordahi
DUBAI, Feb 4 (Reuters) - Dubai-based Islamic mortgage
provider Tamweel’s Feras Kalthoum, head of investments, told
the Reuters Islamic Finance Summit in Dubai on Monday:

“Last year's expulsion of about 200,000 labourers from the
UAE caused a shortage of workers on construction sites in the
federation, pushing back by at least two years to 2011 the time
when the supply of homes in Dubai catches up with demand”,
Tamweel said.
"The economics was not property researched," Kalthoum said
of the expulsions. Tamweel had expected supply to catch up with
demand next year.

(Editing by Will Waterman)
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Old Feb 4th 2008, 8:13 pm
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Default Re: Tamweel's desperate attempt to keep property prices high for two more years.....

Start your own rumour " all expats to pull out of Dubai due to high rents and low salary increases!
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Old Feb 5th 2008, 1:35 am
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Default Re: Tamweel's desperate attempt to keep property prices high for two more years.....

Originally Posted by axlenoyl View Post
Start your own rumour " all expats to pull out of Dubai due to high rents and low salary increases!
You might be closer to the truth than you think if this continues:

http://www.arabianbusiness.com/51013...second-highest
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Last edited by NorthernLad; Feb 5th 2008 at 1:38 am.
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Old Feb 5th 2008, 3:36 am
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Default Re: Tamweel's desperate attempt to keep property prices high for two more years.....

Originally Posted by NorthernLad View Post
You might be closer to the truth than you think if this continues:

http://www.arabianbusiness.com/51013...second-highest
Why don't they build one of those nice labour camps for senior executives and their families?
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Old Feb 5th 2008, 4:43 am
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Default Re: Tamweel's desperate attempt to keep property prices high for two more years.....

Originally Posted by The Dean View Post
Why don't they build one of those nice labour camps for senior executives and their families?
they have done. its called the Meadows
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