UAE

Hello Everyone,

This is my first announcement on this site, so I thought i would make it a good one !! I work for an overseas property company developer, we are a UAE based company and have around 190 projects in various locations all over the world, they range from Residential to Commercial and all have a proven track record of capital growth, we have discounts available, and pay very good agency fees to anyone introducing an investor to us.

If anyone wants to know more about the comapny or the developments please let me know.

Thanks for your time

Martin

Hi Martin,

Good luck with your business, just thought i should post this for everyone who is not here in the UAE and may not be aware what is going on right now:
http://www.reuters.com/article/marketsNews/idUSLD36506920081113 

Sarah

Hi Sarah,

Thank you for the article, I read it earlier today aswell as the articles on Gulf news and Arabian business.com, bad news all over the globe, but there is still alot of money in the world and some very wealthy people buying bulk properties at very large discounts and getting larger.

Thank  you for the good luck wish though any bit of good luck at the moment is very welcome, I have some friends in Dubai and they are keeping me updated with changes, it doesn't help when banks stop lending to expats working for Dubai developers not good but we will carry on, good luck to you also

Kind Regards

Martin

Martin, can you send me your contact details please, if you can PM an email address for communication that would be great.

Thanks,
Matt

Hi Matt,

Thanks for your message my e-mail address is martin@weedonsinvestments.co.uk, this will go straight to my mobile and the mobile number is 07890 543224, I do have an office line but I am hardly ever there.

Speak to you soon

Martin

Hi all,
Have resided in Dubai for almost 11 years and although we have a number of commercial and residential properties in OZ and NZ - WE do not have any here.
We are however surrounded by many friends and assocaites who have invested in Dubai. There has been fortunes made.
Only my advise - now is the time to be very careful, this market is like no other. There is always a lack of clarity and information and should you not be getting your capital gains - there are many hidden costs. With the current world financial market - no one is immune.
By all means look but do your due diligence. There is an unbelievable amount of units hitting the market, villas a better bet.

It appears that Dubai's property market is suffering just as badly from the global credit crisis as everybody else.

Secondary prices in Dubai and Abu Dhabi fell 4 to 5%, with Dubai's advertised villa prices falling by 19 percent month-on-month in October after several banks tightened lending conditions in August and September.  It also says that, Apartments in the Dubai International Financial Centre, the nexus of the banking and investment sector, fell as much as 30 percent.

A sales agent was quoted as saying that property prices had fallen 30-35% in Dubai since September. The downturn has meant that major developers in the Emirate such as Nakheel, Emaar and Damac are either cutting jobs or at least reassessing employment numbers.