Hundreds in desperate queue for new Emaar project

Omar Abdulwahab

Just before anyone jumps to conclusions, I am a home owner, and a "portfolio-ist" (i never sell my properties as i have bought each one for specific humanitarian reasons)
I would like to know how many of the people waiting outside the Emaar office for ridiculous hours on end are ACTUAL REAL HOME OWNERS?? They all want to make their "quick buck".
This proposed community is specially designed for families who want to own, not for "investors" who will rip off the families with ridiculous rents, and won't sell unless they are making stupendous profits. Unfortunately the majority of the so called "investors" are "new money" people (just saw green in the last generation). They may have big pockets, but small brains (money cannot buy knowledge)...truth hurts...

desert dream

Sorry but your comments don't hold ground..Firstly you cannot judge people by appearance. Secondly it is a free market there is a huge demand for emaar villas and they are are free to fund a percentage and sell it for a ridiculous profit to another investor or end user. That's how bull markets work.
Coming back to your first point - despite what you may think, there was a huge number of home owners present. Do you know how successful the real estate agents in Dubai are? They make a killing every month and are lining up buying 3-4 units and will end up selling a unit OP for 1 million at 3 million to a 'homeowner' like you. These are market dynamics and you should accept them or kindly step aside, and let the investors do their thing. Wish you all the best

Ameet

Why has Arabian Business not done any story on the launch fiasco? They are always ready to report on developers' shoddy treatment of investors'. This is a big story anyway you slice it so why the silence? It was a poorly managed launch and any other developer would have gotten slammed by the media, govt, RERA. Why does Emaar get away with this? Wake up AB, show us the same courage you have in taking on Nakheel. Havent you seen the videos?

paul

Another puppet show condoned by a Dubai company which does everything else right. It just feels that an event like this is when they have their arm twisted into being part of something that is irrational. If its a lottery, just use random.org rather than take pictures of proxies who are hired to stand in artificial queues. A cheap way to get publicity on the " revival " of property ?

Samara Pope

People desperate to trade millions for something of 'value'.

'Value' is based on people's belief.

Belief is a psychological contruct.

The best way to create a psychological belief in the population that something is valuable and make them desperate to part with their wealth for it is the introduce the illusion of scarcity, rarity, and a resulting feeling of being at a loss or deprived if we dont get our hands on a particular grain of desert sand for a rediculous price that seems justified by our emotional desperation to not 'loose out'.

Saurabh Killa


i went to the launch centre at 4 am to queue and there were no signboard and the security guards were not giving any information.
finally got a token at 1 pm and at 8 pm was told all units have been sold.

Dinesh Shroff

How can a developer condone such a thing. If there is any regret for the stampede and for the mad rush that ensued, this launch should be cancelled.
Shame on you investors for even supporting such a launch and actually buying. If you want things to change, you should change yourself first and stand up for yourself and have some respect.

Amer


?Be Fearful When Others Are Greedy and Greedy When Others Are Fearful? -Warren Buffett
Nothing more needs to be said. Period.

Joh

Never knew that a queue of laborers is great news!!!

Peter

I think two workable ideas to restrict property sales to genuine buyers can be: (1) the homes only to be sold to/registered in the name of the person standing in the line verifiably matched against his photo ID card/passport and (2) no resale permitted for 3 years and then too, only once 60% of the home is paid for.

Ahmed Rashid

???? I am trying to sell my one bd apartment in down town last 6 months. no buyer

Rashed

I am interested to buy? send me an email with detail.


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