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Posted on Saturday, 2 October 2010
Dubai ruler says ‘We are back’ after debt accord
hmmm...
Posted by Simon at 12:09 UAE time
The silence on this comment board is deafening!
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Dubai cancelled half of planned property projects
The long wait for refunds.
Posted by Shameless Deville at 12:09 UAE time
It has been three years since I bought into a development in Dubai that was never started. The developer was a very prominent and well established Dubai business family who are very well established. Since the day I paid my 30% down payment I have not heard from them at all, and, the company has ceased to operate. I understand that there are nearly 500 displaced investors with this developer - who have also been waiting for three years for some action. We have been to the Police, the Courts, RERA and got absolutely nowhere ! We have tried highlighting the problem in the local media, but it makes little difference. Let’s hope that a settlement will eventually be forthcoming.
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Emaar India JV eyes $358m IPO by December
Aren't we glad we waited...
Posted by John at 12:07 UAE time
Edited by ArabianBusiness.com
That the Emaar MGF is going to be for a quarter of what was first mooted is no surprise, so investors must be glad we all waited for reality to set in. It hasn't helped that the Commonwealth Games disaster has further tainted the once-pristine name of the company.
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Let the games begin
@ Adam
Posted by Mr Majika at 11:28 UAE time
I wouldn't have thought you'd have seen 'thousands of reports' saying the the facilities are the best that athletes have ever seen.
What we do know is that they are not up to the international CWG standard and that's a fact.
India has had 7 years to get this right and they've failed miserably.Maybe that's India's standard but i'm afraid it isnt up to the CWG standard.
Countries have had people on the ground for weeks and i'm afraid it all boils down to poor management and inefficient use of money and resources.
I'm of the opinion that the money could have been used better to tackle some of India's more internal problems like infant mortality , poverty , basic housing and medical facilities.
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Top restaurant brands could be heading for Gulf
Nobu
Posted by greg at 11:20 UAE time
Nobu is not a London restaurant but rather an American based enterprise.
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Prince Alwaleed is Gulf's most efficient boss – study
leader
Posted by mansour at 10:25 UAE time
when you meet Fahad for the first time you know right away he is different, he is a leader and his personality is very strong that you love working with him.
Abu Nawaf all the best.
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Prince Alwaleed is Gulf's most efficient boss – study
The Gulfs most efficient CEO's
Posted by samih Alameddine at 10:01 UAE time
While reading this article I began to think of all the potential possibility of the offering of corporate sigma. I am now on chapter 4 in the book and look forward to completing it soon. I also saw your new site looks fantastic and also rich in content. I hope we can be on the same team.
Best Regards
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Let the games begin
Media wasnt fair to Indians.
Posted by Adam at 07:25 UAE time
After seeing thousands of reports that the facility in delhi are the best which many athletes have ever seen , i am so angry . What about the athletes who pulled off the games because of over hyped media negative reports. And more then that how about giving some credit to indians.
Shame on media / journalist for sensationalizing the worst without highlighting the positiives.
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India's new direct taxes code may hurt non-residents
DTC Taxing global income of NRI for 60 days' stay in one year
Posted by rajmohan at 05:21 UAE time
How would the Indian government react if USA and UK reciprocate by taxing worldwide income of Indian visitors whose visits exceed 59 days in an year?
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Posted on Friday, 1 October 2010
Dubai cancelled half of planned property projects
Cancelled Projects
Posted by Jack Reacher at 14:06 UAE time
There has recently been a number of articles regarding the Dubai bond issue and the fact that 'about half' of the building projects have been cancelled. It appears that the Dubai Govt. are finally getting to grip with the issues and taking positive steps to sort them out and that is good news for all concerned.
However, the 'off plan' property market remains dead and will continue in this state until there is complete transparency with regard to:
which projects are going ahead (with realistic timescales), which projects are 'on hold' (and for how long) and which projects are cancelled (and at who's cost!)
There are still too many disputes between developers and investors resulting in a total lack of confidence in the 'off plan' market and RERA seem to be ineffective.
On that note, is there a definitive list detailing which projects have now been cancelled and can it be published?
Maybe the next step is to eradicate off plan investment altogether and ensure the developer has sufficient funds to complete any future projects?
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Etisalat chief denies scrapping Al Shamil internet service
@Expat
Posted by Kumdhar at 12:36 UAE time
I totally agree with you. You are absolutely correct. Customer is NOT the KING here in the Middle East.
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Dubai launches two-tranche $1.25bn gov't bond - lead
Emirate's Bond Issue Prospectus on LSE
Posted by H L Nagpal at 12:27 UAE time
London Financial Times has reported there is RERA disclosure that HALF OF DUBAI'S PROPERTY PROJECTS SCRAPPED. Investors expect RERA to make this list public as in the absence of this list, some of the developers are inducing innocent investors to make payments re scrapped projects which is heart-breaking. RERA is doing the investor community a big dis-service by not publishing this list thereby encouraging fishy developers to rob investors of their hard earned savings. Now that RERA is making efforts to remove the crooks from Dubai Real Estate scene, please publish the list so that these developers do not get a chance to deny their project has been scrapped. London investors have always supported Dubai. Now it is RERA's duty NOT to let London offices of these Dubai based developers cheat because the information has been withheld from the investors.
H L Nagpal
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Sentiment on Dubai is changing again
v true
Posted by arshad at 10:58 UAE time
yes i agree completely that after ramadan the sentiment and market has picked up and positivity is coming back to the entire scenario. what we forget is that during this crisis dubai built a world class infrastructure which should suffice for the next 30 years and standard of living is very good in dubai. in india and other asian countires u cant buy an expensive car without getting into trouble with tax authorities. i applaud sheikh mohammad for his courage.
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Sentiment on Dubai is changing again
Don't let spin take control again
Posted by John at 04:55 UAE time
Half of Dubai's problem was caused by the excessive spin on everything, punted by PR firms run by amateurs after a quick buck. Everything had to be a superlative, and those were the words the world media fixated on when the crash came. For Dubai to regain its credibility, lost or severely damaged in the past two years, it has to be transparent, take criticism on the nose and clean out the dross. Paying millions for an image that collapses overnight should not be repeated.
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Posted on Thursday, 30 September 2010
Gulf’s 50 most influential expats
Mr. Naqvi and the LSE
Posted by David at 01:08 UAE time
I was heartened to attend the inaugural Private Equity Program launch sponsored by Mr. Naqvi. Hearing him speak and speaking with him briefly later gave me an even more enhanced impression of the man and his deeds. Priivilege to meet him
