Yes the commercial projects will buck the trend.
It can only be from the mouth of someone trying to promote interest in the event they'd stand to gain, or someone who doesn't really know the industry... at all.
I wasted a year over there, and really did become an expert, particularly in Business Bay.
There's more commercial property standing empty and doing nothing in Dubai than you can shake a stick at. I know cos I had a few towers listed, some exclusively.
Build quality is bad, infrastructure is bad and the market suffers fools writing for major media outlets eg Gulf News who literally have no idea about the property market in Dubai and who publish conflicting and opposite reports on an almost weekly basis.
Sellers and buyers alike are greedy and unrealistic squabbling over as little as 1000 AED when it comes to signing MOUs (the equivalent of approx 200 GBP) often bumbling sales as a result and thanks to a total lack of structure within the sector agents are bypassed by their buyers, betrayed by their sellers and even sold out by their own colleagues and industry counterparts.
Then there's the nepotism and futile nature of investing in the region on the grounds that you'll never achieve permanent residency status or citizenship. Really, who needs it.
I can think of far better areas in the world to invest, and industries.
And I love the naieve confidence in statements like "I'll ask you again in two years when you see that I'm right" as we sit poised at the mercy of total and utter psychopaths bullying all and sundry in the region, even invading middle eastern countries. Nobody has been this evil and brazen since Adolf Hitler but its "all insiders predict positive growth" my goodness. You might find you're struggling to get the essentials in life if The Committee of 300, The Club of Rome and the corporate heads of Northrop Grummen, Raytheon and Haliburton etc get their way.
It's about time we stopped thinking about crapping on the next man for an easy buck. And that includes the Bangladeshi and Pakistani slaves hammering away in blue under the baking hot sun all day every day.
I'd love to know what the thought process was when this character got out of bed and thought it would be a good idea to dream up this thread. It's kind of like me registering on a law forum and trying to pass myself off as someone who can brake-down the intricacies of legalities regarding corporate takeovers in four or five sentences of foggy statements dotted with spelling errors.
Entire economies are being destroyed elsewhere in the world but there's some projects in Business Bay Phase II going to get things moving again. No matter where in the world we are, I think we're all in line for quite a shock.
. Keep smiling till then.
