I do not know why people wanted to do Distress Sales. Dubai, it will take time to mature, the correction, I mean the real correction will take only after many years. The government is giving protection to the Dubai Investors. The projects are announcing in Dubai is still at the beginning. The government has a plan behind this, they will protect the investments.
Look at the new Investments, Meraas for the example. It will cover and spread over Satwa and Jumeirah 1&2. With in a couple of years, the tenants have to move out of this area and look out for new areas to live. They can move to JLT, Marina or to the Dubailand only, so there is not going to be any more vacant flats or villas.
The same way, there are projects, the government is going to launch , revamping the entire Ras Al Khor and Rashidiya by next year, again the tenants have to move out to new destinations. Followed by Al Qouze, Deira and Al Ghusais and at the end, it is Bur Dubai and Jumeirah, Umm Suquiem area. All these projects will be finishing by 2025.
Think, once Deira and Bur Dubai is going for a shift, where all this public will move in to.By the time, all Dubailand will be congested and the rental Income will be more.
Other than this, please look in to the projects announced already. The new Al Maktoum International Airport at Jabal Ali needs 135000 employees, once it is operational. This airport will open in the 4th quarter of 2009. Look at the number of hotels are coming up, according to Movenpick, they alone need around 12000 new staffs by the end of 2009. The Metro line will be operational from 2009 and the construction will start for the Blue Line and Purple line from 2010. Once Business Bay is complete more global giants are moving to Dubai.
Right now, Dubai is the only safe heaven for the Investors. People they lost jobs in US, UK and Europe, they have move towards Middle East. 90% of those people are eyeing Dubai. With in months they will move to Dubai and they started buying properties, the prices will again go up.
After all, as RERA and govt departments say, Dubai is not a market for speculators. This should be ended. Right now, the Investors are looking for resale from day one of the properties, In future; they can only resell it only after one year or after the completion of the project.
Dear investors, please note, Dubai is not ruled by Democracy but Monarchy. In democracy, there are ruling party and opposition and they can adopt any type of policies. That can lead destruct ions in the market. Dubai is ruled by Visionary, Business Oriented Leaders. They also have Business Interests. So they never let you down.
Look at the Rent, it is just increasing only, I never saw it is decreasing. Again it will go up all these coming years. The present City cannot afford the flow of people right now. And Dubai is growing and it will grow only.
