The World is sinking!
Jan 22nd 2011, 11:03 am
#16
Forum Regular
Joined: Aug 2009
Posts: 160
Re: The World is sinking!
Does anyone think RERA is ever going to find against Nakheel in any cases to do with The World, Waterfront and the unbuilt Palms? And surely they won't announce that any of them are officially cancelled either.
Jan 22nd 2011, 11:12 am
#17
BE Forum Addict
Joined: Aug 2009
Location: Dubai
Posts: 4,017
Re: The World is sinking!
The whole things corrupt from the very very top down.....They'll do what they always do....Nothing.
Jan 22nd 2011, 11:45 am
#18
BE Forum Addict
Joined: Aug 2008
Location: Far from home!
Posts: 1,024
Re: The World is sinking!
I think this year, RERA are going to officially announce the cancellation of about 200 projects (read that somewhere), which is big, because it'll mean developers have to compensate their investors... which will be interesting to say the least, considering the scale of investment and the fact they have no cash. Private investors will be lucky to get anything, and will certainly be asked to take a hit.[/QUOTE]
I think the problem is they have said they won't actually announce the 200 defaulters. But if you quietly go with proof that you are an investor, and probably be asked to pay a few hundred dirhams of course for the priveledge, they will look up in their black book and tell you the bad news!!!
I think the problem is they have said they won't actually announce the 200 defaulters. But if you quietly go with proof that you are an investor, and probably be asked to pay a few hundred dirhams of course for the priveledge, they will look up in their black book and tell you the bad news!!!
Jan 22nd 2011, 12:03 pm
#19
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Joined: Jun 2008
Location: Abu Dhabi
Posts: 1,633
Re: The World is sinking!
Some two and a half years ago I had some dealings with an architect who was working on the Waterfront project. As it was so huge I asked him who was supposed to live there and did the developers really believe there would be enough people for it to be viable.
He said that the belief behind it was simply (& breathtakingly arrogantly) - if we build it they will come.
He said that the belief behind it was simply (& breathtakingly arrogantly) - if we build it they will come.
Jan 22nd 2011, 3:26 pm
#21
ex-expat
Joined: Nov 2008
Location: in front of my computer - in sunny Sussex!
Posts: 2,162
Re: The World is sinking!
I think the problem is they have said they won't actually announce the 200 defaulters. But if you quietly go with proof that you are an investor, and probably be asked to pay a few hundred dirhams of course for the priveledge, they will look up in their black book and tell you the bad news!!!
Jan 23rd 2011, 3:44 am
#23
Lost in BE Cyberspace
Joined: Aug 2009
Location: Disneyland, Dubai
Posts: 15,887
Jan 23rd 2011, 4:14 am
#24
Hit 16's
Joined: Mar 2010
Location: Of all the gin joints, in all the towns, in all the world, she walks into mine
Posts: 13,112
Re: The World is sinking!
I don't know what everyone's worried about. I heard on the news only 30 minutes ago that residential rents in Dubai will make a full recovery this year. Oh ye of little faith.
Jan 23rd 2011, 4:45 am
#26
Lost in BE Cyberspace
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Location: Disneyland, Dubai
Posts: 15,887
Re: The World is sinking!
Jan 23rd 2011, 4:49 am
#27
Hit 16's
Joined: Mar 2010
Location: Of all the gin joints, in all the towns, in all the world, she walks into mine
Posts: 13,112
Re: The World is sinking!
If you say something often enough it becomes the truth. Altogether now, "Dubai residential rents will recover this year. Duabi residential rents will recover this year. Dubai residential rents will recover this year. Dubai residential rents will recover this year. Bacon has wings. Bacon has wings. Bacon has wings."
Jan 23rd 2011, 4:51 am
#28
Account Closed
Joined: Oct 2008
Posts: 2,502
Re: The World is sinking!
Read the article.
So they are committed to building more apartments and office space during a period of continuing and deepening real estate glut?
So they are committed to building more apartments and office space during a period of continuing and deepening real estate glut?
Jan 23rd 2011, 5:03 am
#29
Lost in BE Cyberspace
Joined: Aug 2009
Location: Disneyland, Dubai
Posts: 15,887
Re: The World is sinking!
They are just trying to talk the market up - I don't blame them for trying given that they must be in for a 100% loss.
Jan 23rd 2011, 7:43 am
#30
Concierge
Joined: Feb 2007
Posts: 29,625
Re: The World is sinking!
yeah right, they are idiots. Have you seen that empty Mall on the Beach Road? I bet they can't give away commercial space these days