Merger of Amlak & Tamweel- Deal or No Deal?

Merger of Amlak & Tamweel- Deal or
No Deal?

 

Amlak-Tamweel Deal rethink on another ploy to keep the
investors in the dark. A merger & acquisition was announced but no one bothered
to inform the investors who had their hard earned cash tied up in the market
.The investors are surrounded by so much negativity because there is no
transparency and accountability. All tradings were suspended without notifying
the investors. Do not these people have the rights to know what will happen to
their investment? The committee is said to be considering and reviewing various
options.

Mortgage Lenders’ Performance:

Amlak & Tamweel should evaluate their performance in the
light of the emerging market situation. Some analysts are of the opinion that
bailing out will make things worse. They think that letting these companies go
bankrupt is better off than bailing out. Experts are of the opinion that merging
the two high risk companies will essentially create more problems. The investors
are at their wits end because no one is giving any solution. If the company
sinks what happens to the investors who had their only saving invested in a
company which seem to be least concerned about the investors’ night mare. A
quick injection of liquidity could accelerate the process of recovery. Even if
the companies are nationalized then too the authorities should uphold the
interest of the shareholders. If the government fail them now, many investors
will lose confidence and hide their cash under the mattress. Investors should
not be ignored otherwise many law suits will follow.

 

Solutions !

Hopefully the investors will not have to take any drastic
action. Everyone was aware of the market manipulation but took no action. Over
indulgence and excess in this culture has brought about such a crisis. On a
brighter note most  expatriate investors remain convinced that the government
actions to be reinvigorate the economy with the nations substantial oil revenue
will help to provide a kind of a buoy to the market in this economic  turbulence.

Economic Gloom in U.A.E and The Expats

http://dubairealestateboom.blogspot.com/
Economic Gloom in U.A.E. & Expatriates’ Fate?
Posted on: 11 February 2009: 

Economic Gloom in U.A.E. & Expatriates’ Fate?
 

The growth rate in the UAE has been unprecedented in the last few years and the return to a more sane rate of growth was inevitable. The sudden economic slowdown came as a blow to many expatriates as few official information is ever made public. There is always a tendency to keep the general mass in the dark. Why the cover up? It is difficult to estimate the victims of this economic crisis as thousands of people have been asked to go on long leave or simply being laid off. Why weren’t the people warned about the dire situation? People have invested their life savings into the stock market and the value of the same has fallen below IPO rate.
Who could have foreseen such a gloom in a market which announced the constructions of many new towers every single day.The whole newspaper would be splashed with the figures of the property boom. All the talk that the market will be able to weather the global crisis much better than the West was only a gimmick to veil the real picture. Lack of transparency is deep rooted in the real estate sector. The developers and the agents cannot be trusted. No one wants to take responsibility. Hence, the general mass, which had faith in the market and the system are in a lot of trouble. The little money they had they wanted to own something in this country because it has become a second home. But their life has become a nightmare. Now their saving is with the developers and there is no way to get it back. They are not accountable to anyone. The laws of the country do not protect the gullible who dared to dream of a better life and a home. Who will listen to these people’s grievance?

What is needed to get Solutions?
The economy needs massive intervention by shot in the arms. The corrupt developers must be brought to justice to regain the trust of the community who think and love UAE as their home country. People have lost their hard earned cash and do not know who to ask for help because everything seems to fall deaf ears.
We all know the market, and the economy will pull itself through, may be in two or three years’ time. But will it be too late for some of us. It is our earnest plea the government of UAE to take the situation their own hands and help out the hard working people

Dubai- A destination For Tourists

For many years people from all over the globe have flocked to Dubai for the works, jobs, and business opportunties. Dubai gained value for career nad for better life there. But Dubai developed its amenities more than ever, that expats and foreigners from Europe to USA,Asia to Africa are seriously contemplating relocations here on a permanent basis. The real estate price has inflated over 1300% over the last one year period. You will not get a place to buy or make permanent settlement tomorrow.
Now started students from around the world to come here to learn.New Univeristies are opened with multiple programmes, networking academy programmes, designing, and computer networks.

DUBAI NEEDS TO MODIFY RULES

Some Laws in Dubai need to be Changed keep with Developmental change
- It will reduce the commercial costs for the investors.

-There will be a positive effect on the business in Dubai Real Estate.
-Some Local and Federation Law must be modified to easy the business and thus Investors' life will be smooth.
- US sub-prime did not much affected the UAE business boom. Sky is the limit says some expert economist.
- The growth here is unprecedented due to the slow down in US economy.
- The industrial sector in Dubai is growing leaps and bounds contributing to the GDP during 2007 & early 2008.
- Though the inflation has made the citizen a bit puzzled, its impact on the growth in tremendous that the people will enjoy in the years to come.

World's Highest Tower-Price Soars

Rates of Dubai Properties Soar

The Property price rates in Dubai soaring .Three months before, the price in the world’s tallest tower was Dhs.4, 000 per sq. ft. now jumped to Dhs.18, 000. The investors are willing to pay 20-40 per cent premium in the secondary market. Buyers are looking plans with little down payment. In the Business Bay area the price per sq. ft is Dhs.1, 800 to 2,500 while the Donald Trump Tower-Dubai sells at Dhs.12, 500 to 15,000. For residential customers the price at Burj Dubai is Dhs.15000 per sq. foot while it is 18,000 for commercial customers. If you do not buy now, I am sure by next year you will regret as it may touch Dhs.32, 000 per sq. ft. to Dhs.40, 000 even. For Down Town Burj Dubai the price ranges from Dhs.8, 000 to Dhs.10, 000 per sq. foot. This further reinforces the fact that there is no seasonal slow down in realty prices in Dubai in near future.

The brokers are concerned about the speculative nature implied in valuations of the properties direct from the developers and the secondary market. However, it is observed a little decline in the rental yields from 7.1 per cent in April to 6.9 per cent in May.

The Palm Jumeirah retained first place in terms of returns on investments as the rate risen to more than 600 per cent over the past five years period. Some villas were sold there for Dhs.2.7 million five years ago are being sold at Dhs.13 million. Office units in the Business Bay saw a big demand from the reseller who bought it earlier
Please note that the Burj Dubai-world's tallest tower is the most important area in the 20 billion downtown projects. The height is reported to be 818m. It will include 30,000 apartments, nine hotels, 6.2 acre of car parking, 19 residential towers Dubai Mall and 30-acre artificial lake.

The Trump Tower owned by Donald Trump is located at the Palm Jumeirah is the most luxurious commercial building in Dubai. The 48-story mixed-us building will have 300-rooms, five hotels, 360 residential apartments, access to private beach, yacht club, tennis court, gym, pools and fitness center and gardens.

Real Estate & Water Sports growth in UAE

Real Estate & Water Sports growth in UAE


With the growth of Real Estate leisure boating and other water sports industry in UAE, in particular in Dubai, Abu Dhabi and Sharjah set to growth spurt to 60,000 berths by 2015. Investment in all types of marine projects in UAE is taking off. Firms have been in dramatic jump in sales over 125% than previous year.

Abu Dhabi is planning to have 20,000 more boating berths & Dubai 40,000 by 2015. Sale of water sports like machines and gears, jet ski between Dh66,000 to 70,000 per unit. Retail is fun here –that is “toys for boys”. Demands for technical & design knowledge with high profile products so that they can build boats have grown tremendously. A 25m dirham service center is being built in Mussafah , Abu Dhabi

Market DFM Reviews

Dubai:
DFM REVIEWS
Dubai Financial Market yesterday closed higher for a fifth trading day, adding 0.15 per cent to 5,720.51.
Emaar Properties rose 0.87 per cent and Emirates NBD 0.43 per cent.
Abu Dhabi's benchmark, which crossed 5,000 points for the first time in more than two years on Sunday, slipped 0.09 per cent to 4,995.74 points, its first lower close in five trading days. National Bank of Abu Dhabi declined 1.42 per cent and Abu Dhabi Commercial Bank fell 1.32 per cent.
Elsewhere in the Gulf, shares rose as regional companies reported first-quarter earnings growth.
Saudi Kayan Petrochemical increased to its highest in almost two months after announcing results.
Qatar Islamic Bank gained for a third day as the lender said first-quarter profit surged 69 per cent. Barwa Real Estate jumped to a record.

Saudi Arabia's Tadawul All Share Index added 1.2 per cent to 9,638.79, its highest close since March 12 while Qatar's Doha Securities Market Index advanced 1.1 per cent. "Strong earnings have boosted sentiment which brought funds and retail investors back into the market," said Bashar F. Eisa, an analyst at Dlala Brokerage & Investment Holding in Doha.
Saudi Kayan gained 3.8 per cent to 27.5 riyals, its highest close since February 25.
The company building the world's biggest ethylene-glycol plant reported first-quarter profit of 95.6 million riyals ($25.5 million).
Qatar Islamic Bank gained two per cent to 125 riyals, its highest close since May 2006. Barwa Real Estate jumped 8.8 per cent to 62.9 riyals.
The Qatar-based property-services business said first-quarter net income surged 88 per cent to 332.8 million riyals.
Oman's Muscat Securities Market 30 Index increased 0.5 per cent while the Kuwait Stock Exchange Index declined less than 0.1 per cent and the Bahrain All Share Index dropped 0.3 per cent.