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Dubai property market could see 'double dip' contraction
18/07/2010 09:30:31 AM GMT
Fitch Ratings says that the Dubai real-estate market will likely remain under pressure, at least until 2012/2013, despite signs that conditions may be stabilising. "The sector is likely to see a period of stagnant growth at best, and a 'double-dip' contraction at worst," said Bashar Al Natoor, Director in Fitch's EMEA Corporates team, Dubai. Fitch expects Dubai's real estate and construction fundamentals to continue weakening, with increasing customer delinquencies, limited liquidity, and a continued historical reliance on short-term maturities. Oversupply, limited mortgage availability and rising interest rates will also pose significant constraints for real estate companies and buyers.¬
Source: ameinfo
what is arra going to do
what is arra going to do with projects & developers which are not register yet? what will happen to such projects investors payments?do they loose their money or the government suport them?
ARRA is going to do nothing
Please undersand that ARRA is an govt. entity and ajman govt. has made billions of dirhams by selling desert areas to builders and real estate companies. The govt. will never never give this money back tobuilders and builders do not have money to pay back to investors as they have invested our money somewere else . :(
We can only hope of getting money either through the legal way or when the market comes back to boom stage like before which is not possible before 2012. Sorry to say these hard words but people we need to look forward .I do not have much hope of geting back my 3 years of saving i put into GCD 2 project.
hari
what u said is absolutly true may allah helps us to get out of ajman gov mess, as they allowed and helped these devlpers to play with our money ,no regulations ,no low , no promises they can keep
Totally agree
I agree that anything ARRA does will never benefit the investor. Investors might be willing to wait for the markets to be stable again ... 2013 according to the forecast you said?
That is too long of a period and if these developments were on time or the market was well off uptil now, investors would have been getting their returns alreay.
I suggest to get out of Ajman altogether, if you have money stop wasting it and start investing it into something real!
A reliable agency came up with a recovery scheme which I think is going to benefit all the investors.
Read the following article!
http://www.ameinfo.com/238636.html
I will be contacting them soon about the details. According to the information, they require you to swap the property with one of their completed projects in their portfolio and they even pay the investors the amount they lost, which is a deal breaker.
hello
Dont loose your confidence ..Be patient . Dont get confused by the response by ARRA and other authirities . As i ahve commente to one pf the queries ... what is more importnt is that now you should fight legally through courts .
Many thnks ,
dubailawinfo@gmail.com
Beema
Can you be honest and tell me how much you charge to fight a refund case. If you are honest and trustworthy come out in clear. Are you an investor or a lawyer. How much money must I waste with lawyers in Ajman to win a case. Have you ever fought a similar case and won. Hope to see your veryprompt reply.
Thank you Beema.
Beema
Yes please... Introduce your law firm, tell us what you have done for any investor so far.....