Abu Dhabi tried to get Aldar off Mubadala books

Posted by: Realtywatch Wednesday, 1 February 2012 3:51 PM[UAE] - International

Agree but change to residency is unlikely to happen for the next generation or two. So forget a property investment market comparable to more mature and transparent markets. Companies like Aldar need to take a long hard look at their business, their property portfolio and their accounting practices. Much of the future value has been wiped out and already spent. Generating revenue from overvalued assets will be an arduous task.

Posted by: Budaiya Calling Wednesday, 1 February 2012 11:30 AM[UAE] - Bahrain

I believe that long term residency visa should be provided to all expats (and their immediate family) who buy properties for $100K+. We live in the real world and not fantasy land. I as a buyer always look towards UK and other visa friendly countries which afford me the convenience and security of being able to attain a long term visa once I own a property. The UAE needs to position itself as a safe haven (much like the UK) for all those ppl around the world who come from unstable countries (iran/Iraq/Pakistan etc). A long term visa where ppl pay tax on properties is perfect for attracting the middle class and not just the uber rich. Don?t forget non citizens don?t get free healthcare or education so it?s a win win. More tax = more income, more ppl = more sustainability and a home market.

Posted by: eddie murphy Wednesday, 1 February 2012 7:55 AM[UAE] - uae

I agree with Mr.hope less.
its about time realistic and concrete steps are taken to boost investor confidence.
It is very reasonable and realistic to have a 10 year residency visa with your property purchase.
Home improvement, furniture purchase and other white goods will stimulate the economy. People will demand better transport and utility services and entertainment outlets.
Long term vision will benefit the UAE.
Mubadala need to off load these properties to genuine investors or else be stuck with these apartments for next 30 years

Posted by: Mr Hope Less Tuesday, 31 January 2012 7:58 PM[UAE] - UAE

Investors will not be lurred that easely anymore. The legal system that protect investors need to be sorted first. With flexible laws that can be changed at anytime or simply disregarded by lawless developers, the challenge is huge. the latest raw of bad practices in the highlighted by the press in shorline, JBR or remraam are ony the top of the iceberg. Utilities inflated cost and bad quality services are other issues that will continue to push back investors. Till today I hve not seen any positive sign from developers or RERA to tackle the real issues. The trend will continue downwards for the next 5 years. This will continue to impact the preformance of these funds who are linked to RE. The solutions are in front of them but everybody is burrying their heads in sand and refuse to deal with reality.

Posted by: Johnthomas Tuesday, 31 January 2012 1:07 PM[UAE] - UAE

Yes same supply and demand statistics that affected Dubai now arrive in Abu Dhabi, both countries will have to open up residency in the same manner as Mauritius to attract buyers and will have to get into the retirement market to attract expats to fill these properties.
Welcome to the world of international real estate
Location:Location:Location

Posted by: Mark of Zoro Tuesday, 31 January 2012 3:04 PM[UAE] - Zoroland

Very realistic and sensible suggestion. This is what is needed here or you will have a Ghost City in a few years.