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UAE is in Panic mode now...


andrewg have you seen the streets lately? it seems more and more people are leaving UAE. I talked different people and a lot of them say most of the people they know are leaving. it's just sad that a lot are leaving. i even heard a lot of british are also leaving and panic selling their properties due to get a better value rather than watching their investments go to drain. one of the news paper (i think gulfnews or national) said that about 800,000 indians are leaving. with the high expenses in almost all areas of living, i think the government should consider the price of rent, their rules about visas, price of groceries and stuff and many others. like most of the others, i do hope that they can save a beautiful country like UAE.
andrewg I saw also on the news yesterday that the Government of Dubai are calming down investors especially under real estate sectors. andrewg Ohh... and banks are even finding ways in retaining their clients as most of them are closing down their account. One of my friend also told me that their including some charges to their account without notice. so check your accounts as well because you might be surprise there are additional charges added. dresden There will always be expats coming to Dubai. This "freefall" will come and go. If you made sound investments to start with, you will be able to ride out the storm. If you were one of the speculators trying to make a quick buck... well, you brought this on your damn self... so don't complain. easy come, easy go! Cheers! P.s, UAE is not in panic mode... the speculators who lost a bucketload are in panic mode, no matter local or foreigner :) TheChoosen I will come with my "Spätzlepresse" to make big money...LOL Dresden, you can bake STOLLEN andrewg I'm only saying what's on the news/ Actually i'm happy where I am now. I just want to say that people living here should just check out what's happening because there are a lot of things that could happen and slip through you without knowing. people should be more careful in everything. And don't lose hope. everything will turn out fine. smoggie
Yep. recently got all of my money out of this place and was told at the bank that many others doing the same.
All of my spending has been cut back for the time being. RedKite AndrewG,
You reiterate what Arniegang said on the other thread, about the 45 pc drop in Villa prices, but yo make it sound even worse. Is a lot of the building on stop then? How much have property values dropped from peak?
The major problem is that when all the building work is finished [not ALL] , then Dubai's market is going to be flooded with far more property, espially from 2010 to 2015.
It seems to me that there has been GREED . It is beyond common sense. Caution was thrown to the wind when all this was planned.
If there is a GLOBAL RECESSION....a DEEP ONE.....it could last 7 years and oil could fall to 30 dollars a barrel, cutting off some of the finance.
Besides Abu Dhabi has most of that, not Dubai.
Piers Morgan has a prog on ITV tonight in which he is VERY BULLISH about Dubai!! No recession according to Piers......"RECESSION- PROOF" HE CLAIMS!!
He has been given more than FREE DINNERS......he's had FREE DINARS!!
If he is lying, the rest of the Press will have him!!
it is DOG EAT DOG out there!!
What JOBS in the UK are these expats coming back to??
People are LOSING JOBS DAILY......BIG STYLE.......IN THE UK!! arniegang The difference between Dubai and say the UK, US, Can and Aus is that when a recession hits people may loose their jobs but they still have their family and a place to live called HOME. In Dubai people loose their job, and they leave the country It isn't rocket science. loly thatz sad news , mind me being mean for a sec but i take it from the positive side but now less traffic m less money to taxis ..yay :D

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Bora Bora Well the greed on the part of the expats is still out there. Those who are rushing to sell their property still think that they are entitled to a $$$2 million profit over what they originally paid for it. Good luck. gtmash
Was there a total eradication of Indians I am not aware of? Most of the Indians in Dubai are still there, sharing rooms and crowding parking areas. zzzane
Uh oh I read that as "sharing rooms in crowded parking areas"..
On a serious note, Indians are definitely leaving their cars at DXB. Check out article. sage & onion
True enough m8 dresden
Can't refute pure logic.
No job = No reason to stay. RedKite Arnie, You miss my point re losing jobs!! If people in the UK are losing their jobs .....THEY are not going to visit Dubai are they? Nor will they buy property there!! They won't go to Dubailand either. The expats in Dubai are there to fill their pockets , sure........but Sheikh Mo has really got them there to build the tourism and holiday infrastructure ...........to attract MILLIONS MORE LATER to holiday in Dubai!! Those holidaymakers and punters are not going to come from the WEST if the WEST is losing ITS JOBS!! That was my point . Without the holidaymakers and house purchasers ...............the expats are NOT NEEDED in the first place.....because, let's face it .......A LARGE CITY CALLED DUBAI IS NOT NEEDED !! What is being built in Dubai CAN ONLY THRIVE in a bubbling , buoyant , GLOBAL economy ! It can NEVER thrive in a recession .......because the west will stay at home or choose cheap holidays just down the road.....a TWO HOUR PLANE HOP .........to Spain!! Dubai is out on a limb ....especially for NOT-SO-WELL-OFF people ! Burj-al-arab and the 5 star hotels are for the rich.............BUT DUBAILAND is for a DIFFERENT MARKET.......the volume market that goes to Disneyland and is used to CHEAP FLORIDA HOTELS!! Where are they in Dubai?? For Dubailand to succeed, Dubai would have to COMPLETELY CHANGE ITS ETHOS !! DUBAI NEEDS ORDINARY 10 MILLION WORKING CLASS PEOPLE ON HOLIDAY.........NOT ITS CURRENT RICH MIDDLE CLASSES !! Furthermore, where is the EQUIVALENT of the cheap "Monarch" flight into Dubai?? Do Easyjet and Ryanair fly there ? NO ! If you are going to cater for the masses....you need CHEAP FLIGHTS for a start. There have to be BIG changes for Dubai to succeed with what is being built!! andrewg Seems like Brits are leaving Dubai... sage & onion
That's almost 3 months old, I would venture to say that the situation is worse now. Red Chief My relative (local) visited immigration a few times to take back deposit last week. He told me that he had never seen so many people who camcelled their visas. It looks like a few thousand per day...
dresden On the brighter side... atleast traffic will ease up? ogri750 yet according to DNRD (reported on City 7 news a few days ago) there is no increase in the cancellation of visas. Nothing like a good bit of spin eh? muslimbangladeshi "Repeat a lie often enough, and it will become the truth" Some western politician had made this comment prior to beginning of this thread. That same 'ethos' is prevalent amongst westerners and their mass media today as well; repeat often that there is a 'global' recession since the Western economies are in doldrums, and it will become the truth! Reality is as long as anybody is not entirely or largely dependent on the West, they are safe from the Western financial crisis. Nucleus
Nope, still bad. rudeboy went out last night and the roads were PACKED as usual. so not sure which ppl have left :D. but i guess the coming 2 to 3 months will tell if there is a huge difference. arniegang
A Friday night is hardly representative. Its the commuter traffic everyone is saying about not friday nights Nucleus
Well I don't see difference in commuter traffic either, everyday when people leave from offices sheikh zayed is jammed as always. Dubai Knight DNID official figures are between 1300 and 2000 visa cancellations...PER DAY! No official figures for the number of new visa issues. As Arnie says; in other countries if you lose your job you either look for new work or register as unemployed and take the government hand out. No such system here for the ordinary workers: Lose your job, and its on the plane home. :shock: :shock: :shock: Knight rudeboy
honestly i hope more and more ppl leave so less trafic and probably give other "nicer" ppl a chance to rebuild dubai :D Chocoholic Less traffic! Try coming back to Dubai from Ajman on a Saturday afternoon! What should have taken me 30 mins, took over 2 hours! sage & onion
I thought the traffic was down yesterday, I do the same route from Deira to Al Barsha every Saturday at the same time. I remarked at the time that it was a little lighter rudeboy
thats exactly what i m saying. on this forum everyone is saying oh so many ppl have left but the traffic tells a different story. ArchitectRoel
Even though thousands of people already left this country it won't give that much effect on the traffic situation..
1.Some people leave nearby their offices with just a short walking distance..
2.Not all people in this country have cars or license...How many percent of expats in this country have cars? 10%-20% ...maybe? zzzane More like 50% if you consider white collar professionals, I guess. rudeboy
honestly i dont see any difference maybe in few months time. traffic is as usual, buses are full of construction workers and construction is still going on for projects which have already started.
it will take 3 4 months before the real crunch starts biting. sage & onion
You would be surprised to know that several projects that were already under construction have been stopped, the most prominent being Trump Tower. rudeboy
yes i know, like i said its too early to be saying anything. the next few months should tell the full story. its just the beginning. sage & onion
I do however agree that we have not seen the end of it yet, things will get much worse before they bottom out. DubaiInformationSite how exactly are investors being "calmed down"? market fundamentals show no recovery anywhere near sight. i agree with the logical approach. why would anyone stay when there is no reason? why would anyone see their investments drain? dubai has already seen its future. just look at USA... andrewg I cannot see anything that will calm an investor down. I always here my friend fighting with the developer where he invested his money. You know... every time I talk to different people they talk about people leaving dubai. from a ratio... 4:5 people... people are getting more aware. It's just sad it's ending up this way. Where do you think is the best alternative to transfer other than Dubai? zzzane HK, Macau and South Korea perhaps, at least according to article. sujithnet I am iI am in India. Here there is no recession or slow down. Professionals here are getting more salary than in Dubai. For Eg i will tell u the prices in India for some common items in DHs Phone calls from India to UAE 73 Fils/Mit Phone calls to Other Countries 46 Fils/Mit Local Calls 0.03 Fils .Mit Internet (unlimited 256 kbbs) 32 Dhs/Month Rent for a 2/3 bedroom posh flat/villa 690 Dhs/mnth Parking fee Nill School Fees (For international Schools) 100 Dhs/Mnth The list goes on..... Thats India........ zzzane 3 posts in 3 years? Wow you really are a lurker. Anyhow, let's set the facts straight, shall we?

I want to call a friend in Cuba. That'll be .
Who uses 256kbps these days. I want the same browsing speed as I get out here - 4Mbps at the very least. Last time I went to Mumbai, there wasn't a single provider in the entire country that offered consumers anything more than a unlimited 2Mbps line. Alright, some ISP does offer an 8Mbps line capped at 4GB/month :shock: :shock: and even that's a big fat 100 Dhs/month.
What kind of apartment are talking about for the "princely" sum of 690 bucks every month? I happen to know that Banadra (sp?) in Bombay has the same standard of living as most areas in Dubai. a recent ad for a medium sized 2BR apartment for 8 grand AED per month. Let's not talk about prices for a "villa".
The parking fee is nil for people who'd like others to shat or put some nasty fingerprints on their car. I do know that a lot of malls do not offer free parking to shoppers.
If I were a working American in Mumbai, I'd want to put my kid at an American school. The tuition fee as listed is not 100 but rather $15k-$32k, which translates to a minimum of 4500 dirhams per month.
Yeah, "that's India". Doesn't sound all rosy now, does it? You might want to do some research before shooting some random stats straight outta yer arse. SpeedMax Investors are still going to Dubai to buy properties. A RE agency I know here in Italy take about 200 people each month to Dubai and much buy a property in Dubai Marina or in the Jabel Ali Palm. They know everything is delaied but are still interested in buying. gtmash
There's a sucker born every minute, it seems. SpeedMax
Shhh!! Don't say this please,I'm trying to sell them one of mine properties!! :( Bora Bora
When the next group comes let me know. I am the agent who is selling the Maktoum Bridge. SpeedMax
Sorry,I'm planning to propose the Colosseum to the next group instead!
So they will save the long trip! :D SpeedMax I tried to choose a cutie avatar birds world related? SpeedMax Better this,to avoid be banned forever!! :)



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