Vote of investor confidence

[naxal]

Originally Posted by DoBuy

Over time price in all countries will go back up,Dubai will be no different.
The more Dubai builds,it will become a far more desirable place to live.Therefore more and more people will move there and prices will go up.
Guaranteed.

Let me repeat a saying ,a wise person once said : 'ONLY DEATH IS GUARANTEED' .

With laws like 'one family per villa' & 'low income earners restricted from sponsoring families' ,things are far away from this place called desirable .

[mirpuri]

no
reason no vision of this govement they want to build Rome overnight
they are geady to sell much land as possible & no regards for investor
i hope each one of you recoupe some of your investment back and go to your loving countries and never look back
good luck
mirpuri

[talk]

YES.

I have alot of confidence in the future of Dubai.So everyone is sitting on edge,but thats what we all knew we were doing when we all invested.

If you have purchased and are in trouble keep your heads up and try to talk your way out with the developer.Always keep yourself under control and wait for good news soon.

[NewLook]

NO, and here's why...

INVESTOR CONFIDENCE IN DUBAI PLUMMETTED FOR LACK OF TRUST. Dubai failed investor expectations with regard to trust. When you can't place trust the largest, most reputable developer to perform according to the contract that you signed, when your questions are repeatedly ignored by customer service representatives, when no banking institution is willing to back up your investment, when there is no legal recourse to enforce the conditions of the contract, and when no government entity willing to step up and do the right thing, then trust quickly erodes. Hard to believe, but its true. Regardless of the traffic, the smog of the city, the polluted waterfront, its quirky customs, its ever-changing stream of self-serving laws, its shallow legal system, misinformation by the media, exploitation of human lives (slavery), could you at least expect better from its development sector? As mature investors, we can deal with an investment gone sour -- that's inherent in the risk we take, and that's a healthy (and fun) part of investment. But when trust is violated, that's a biggie. Trust is a basic underlying assumption of today's investments -- to expect a high standard of trust in the honesty and integrity of the institutions involved in the process. And Dubai failed miserably on that count. I have to say, however, that I met many honest, kind, and good-hearted people while I was there (living in fear of losing their jobs if they said anything), so its too bad that the lack of integrity of the system has to ruin the reputation for the rest of the people in the country.

[zombie]

Originally Posted by NewLook

NO, and here's why...

INVESTOR CONFIDENCE IN DUBAI PLUMMETTED FOR LACK OF TRUST. Dubai failed investor expectations with regard to trust. When you can't place trust the largest, most reputable developer to perform according to the contract that you signed, when your questions are repeatedly ignored by customer service representatives, when no banking institution is willing to back up your investment, when there is no legal recourse to enforce the conditions of the contract, and when no government entity willing to step up and do the right thing, then trust quickly erodes. Hard to believe, but its true. Regardless of the traffic, the smog of the city, the polluted waterfront, its quirky customs, its ever-changing stream of self-serving laws, its shallow legal system, misinformation by the media, exploitation of human lives (slavery), could you at least expect better from its development sector? As mature investors, we can deal with an investment gone sour -- that's inherent in the risk we take, and that's a healthy (and fun) part of investment. But when trust is violated, that's a biggie. Trust is a basic underlying assumption of today's investments -- to expect a high standard of trust in the honesty and integrity of the institutions involved in the process. And Dubai failed miserably on that count. I have to say, however, that I met many honest, kind, and good-hearted people while I was there (living in fear of losing their jobs if they said anything), so its too bad that the lack of integrity of the system has to ruin the reputation for the rest of the people in the country.

I agree with you on many accounts, but are we so naive in thinking that the developer in Dubai is any different from a developer in say Mumbai, London or emerging property hot spots in the world etc. They are all the same. Those who invested in off plan(flippers or long term investors) knew they were taking a risk, Some one showed them a dream "Look way up there we will build you your dream home in the middle of the sea/desert what have you. LOOK how quickly the prices keep rising, better lock in these prices as fast as possible" Some bought that dream without thinking it through.

Everyone knows it is safer to invest in established markets, but the risk reward ratio of emerging markets will always appeal to those with appetite, in the process there is always collateral damage(the innocent get burned)

[mazi]

Originally Posted by zombie

I agree with you on many accounts, but are we so naive in thinking that the developer in Dubai is any different from a developer in say Mumbai, London or emerging property hot spots in the world etc. They are all the same. Those who invested in off plan(flippers or long term investors) knew they were taking a risk, Some one showed them a dream "Look way up there we will build you your dream home in the middle of the sea/desert what have you. LOOK how quickly the prices keep rising, better lock in these prices as fast as possible" Some bought that dream without thinking it through.

Everyone knows it is safer to invest in established markets, but the risk reward ratio of emerging markets will always appeal to those with appetite, in the process there is always collateral damage(the innocent get burned)

With respect, I disagree.

I bought off-plan in the UK and it was handed over to me "a week" after the agreed date. Having said that, off-plan property does not have the same meaning in the UK as it does in other places in that it doesnt normally come cheaper than ready or established property, although isn't this begining to be the case also in the UAE now?