Article
Dubai or Not Dubai? Is this market hot - or just hype?

What is it that so many investors find so attractive about the property market in Dubai - and have they got it right? Tony Booth investigates...

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Dubai or Not Dubai? Is this market hot - or just hype?
brett s (PRO Member) dubai
Posted: Mar 31 07 17:07
Total Posts: 22
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agreed Tony. Thanks for the article. I have one other question about Dubai. Where do they get their water supply from?

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Tony Booth (Lite Member) Water resources
Posted: Mar 31 07 17:23
Total Posts: 48
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I believe alot of the water resources for Dubai is acquired through desalination of sea water (which began way back in the 1970's) and ground tapping (which it is said has resulted in some of the rivers reducing by up to a meter). These resources supply the irrigation needs of Dubai. Dubai actually produces more water than it currently needs, and this is largely because they know industry and population is going to demand this extra amount in the future. Dubai has a superb recycling plant and treats most waste water, returning it back as supply. There has been concern over the amount of groundwater being taken, as it impinges on the ecology of the land, but despite criticism, Dubai continues to expand the program of well drigging. There will be issues for the future as population demands increase - but for now at least, the water supply seems adequate.

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russell clarke (PRO Member) Read The Local Media
Posted: Apr 1 07 06:50
Total Posts: 0
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Robin, I don´t know if you live in Dubai but re Green Community....the charges were ridiculously low and even after the 300% hike, they remain below those of other communities such as Dubai Marina. Most of the residents were more concerned about how the price increased was introduced. To understand this, you have to understand the local culture, which is to never directly give bad news. The threat of legal action is a hollow one and, again, a typical cultural response. From afar, this may appear to be an infringement of freedoms, but the reality is that Dubai is a free and tolerant society.

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Russell Clarke (PRO Member) Has My Question Been Answered?
Posted: Apr 1 07 07:13
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I don´t wish to become a "Defender Of Dubai" but do feel duty bound to correct certain misconceptions. Regarding a "secondary" market; it is alive and kicking now that finished properties are coming to market. It is true that the vast majority of sales are off-plan, but that is because most properties for sale are off-plan! Once projects come to completion, Palm, JBR, etc a thriving secondary market occurs, because at present there is a shortage of completed property in Dubai. As for figures, a villa on The Palm....purchase price 2.6m dhs....lots were available around 5m dhs just 6-9 months ago...and now anything less than 7.5m dhs would be sold same day. The situation may be different with apartments in 2008...but villas remain in short supply for the forseeable future and the secondary market in those is assured.

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