Russell - I do basically agree with your points made but I think you've taken the opportunity at the right time and I'm not sure that investing into a new Dubai development to be completed in 2 years time would be a good investment. I know projects are running late but they will eventually hit the market and there are still a lot of new developments being announced. I think the late deliveries will keep the market growing through 2008 but by 2009 I would expect a correction.

Agreed Brett.....though there are two distinct markets here, Villas and Apartments. Anyone investing for the first time today, from an investment perspective, should look only at villas, and even then, be very careful about location. People buying for retirement or second homes however, have an unbelievable choice of lovely apartments in superb surroundings.

Hi Pauline, I hope that you are well,and others. I am just stressed from RedNet in CEE. Yes, I agree with Russell, I don't live there but know plenty of people that do. I think that there is a short supply of quality houses and also social housing. I agree that one should visit the other Emirates first as I have heard that they are not as nice with the exception of Abu Dhabi. My broker lives there and she said that there has been huge demand for houses in this area as it is only about 45 mins dive into Dubai. I think that apartments in dubai will prob be in oversupply by 2010 although I am hoping that because I am on the 'Palm Jumeriah' trunk in the Fairmont Residence, I am hoping that I should be able to make a rental income from it. what do you think Russell??? plse advise. The biggest prob has been getting a mortgage because the bank has to have a MOU with the developer,plus you must have Life insurance and it is a nightmare. I am an investor which is not good news for the banks, they like employees or cash buyers like the West Africans and Russians who just go there with a plastic bag full of cash... When my mortgage is approved re MOU I will pay around 8% interest whereas at the moment I will have to pay the developper 1% penallty. Well which one would you prefer! By the way beware of a SCAM money lender in the UK called CADOGAN in London, they ask you to pay for the survey etc, it isn't done and they owe around 15-20 investors money and this SCAM has been going on for 15 years. Police don't get involved because it is a Civil matter. Lynn

Lynn, I´m sure you will have no problem gaining a good rental return from an apartment in the Fairmont Residence on The Palm. Along with a shortage of living accomodation, there is a shortage of hotel rooms in Dubai. This will get corrected between 2010 and 2015 with the strip of hotels that is planned for Dubailand and the hotels planned for the crescent of The Palm, but for the next 5 years or so, short-term holiday lets would appear to be a good bet. I´m surprised you have had problems with mortgage facilities...Barclays, HSBC...not helpful?

Russell, i bought a 2BR in marina which rose some 25% in just 10 months.and now i am looking for a small office in Business Bay. do you agree with me in appreciation in BB? and can you offer me the right project and developer? yours, kambiz

dear Shane,
i am looking for a off plan in abu dhabi, but i am confuse which developer to choose Aldar , Sorouh ... beside the locations are all promise and i coudlnt pick one.
also i contacted to Amlak and Tamweel but they dont give loans to non resident for Abu Dhabi. do you know anybody or bank who gives loan to non residents?
thanks in advance
kambiz

Hi Kambiz. I have verbally been given a loan with the Bank of Abu Dhabi. They have offices in London. the problem is always the same one. The bank has to have a MOU with the developper. My developoment on the Palm Jumeriah was with Nakheel but then the Fairmont IFA bought it from them and so the bank does not have this agreement with them!!!It can takes months or in my case years to obtain one!!! I have a broker in Abdu Dhabi and she gets mortgages all the time for non residents.
Lynn

Dear Lynn,
would you give me her email? maybe i can get some help from her.
cheers
kambiz