discuss Beyond Dubai: Reem Island, Abu Dhabi. Don't Miss Out!

[$$Domainer]

I am going to tell you about a gigantic project going on in Abu Dhabi called Reem Island. This project is so huge 3 of the largest developers in the UAE(Tamouh, Sorouh, and Reem Investments) are building it. It is even bigger than The Pearl Qatar project that appeared in this forum last June.

- Reem Island is a combined residential, commercial and business project being built on a natural island off the coast of Abu Dhabi City and will be directly connected to Abu Dhabi City by a number of bridges. The location of Reem Island is only 20 minutes from Abu Dhabi International Airport.

- Reem Island will accomodate and estimated 280,000 residents. Some estimates go as high as 350,000!!

- Reem Island will contain Numerous hotels, resorts, beaches, spas, shopping malls, restaurants, medical clinics, many, many businesses, a 27 hole golf course, etc., etc.

- Just one of the business projects on Reem Island is Addax Port. By itself Addax is a massive port project which will contain 5 huge towers: an office tower and 4 other residential towers. And this is just one "small" part of Reem Island.

- Of course there will be tons of luxury condos and homes and villas, etc. to accomodate the huge number of residents of Reem Island.

- Reem Island will eventually be the "center" of Abu Dhabi which is the Richest of all the Emirates. Even richer than Dubai.

- Do a google search to get lots more info on Reem Island and here are a few sites to get you started: ReemIsland.com, AddaxPort.com, ReemInvestments.com. There are many more.

- There are still many good names left. I picked up:

ReemIslandProperties.com

ReemProperties.com

...but there are still many more left. As a domainer if you miss out on Reem Island you will never forgive yourself. Good luck and I hope this post was of help to you.

 

[Smith]

the only way to save dubai is to turn it into vegas and allow gambling

If only they had an offshore island or something where they could limit it to . . .

 

[nicedomains]

Even though I am love to visit casinos and play poker, I respect the Arabs for not allowing it into their culture even though there are financial gains and other pressures to allow casinos.. I don't expect to see them budge on this law.

 

[tetrapak]

They used to have gambling on private boats, but I can't understand how gambling is worse than prostitution (in the eyes of Islamic people that is), because there are plenty of them in Dubai..

 

[Smith]

They used to have gambling on private boats, but I can't understand how gambling is worse than prostitution (in the eyes of Islamic people that is), because there are plenty of them in Dubai..

Before Al Ain had slot machines too, legally, and I've heard that there are gambling dens all over Dubai.

I could honestly see it becoming like alcohol, legal for expats, "haraam" for locals and Muslims.

 

[nicedomains]

Before Al Ain had slot machines too, legally, and I've heard that there are gambling dens all over Dubai.

I could honestly see it becoming like alcohol, legal for expats, "haraam" for locals and Muslims.

What would the punishment be for being caught gambling in (or running) one of those 'dens' in Dubai??

 

[blogcrash]

Different cultures...

We just need to respect the differences

 

[Smith]

What would the punishment be for being caught gambling in (or running) one of those 'dens' in Dubai??

Likely nothing, good chance the cops would be on the take.

 

[$$Domainer]

Dubai Predictions

I am going to make some predictions about the future of Dubai. Time will tell if I am correct or totally wrong.

1. Business Bay will turn out to be one big flop. I believe no more than 30-40% of the office space at Business Bay will ever be occupied. Dubai already has one functioning financial mega project, Dubai International Financial Centre (DIFC). Dubai simply does not need another gigantic mega project devoted to business. Not to mention that right now 40% of all Dubai office space is empty.

2. Palm Jebel Ali and Palm Deira will never be developed. Palm Deira alone is the size of New York City and Palm Jebel Ali is twice the size of Palm Jumeirah. Do you have any idea how much development it would take to fully develop these two islands?! They will both remain empty, standing before the world as monuments of limitless dreams gone mad.

3. Only a small fraction of the original plan for Dubailand will ever be developed and Dubailand will never come close to being the size of Disney World.

4. The Dubai Waterfront, which was originally planned to be twice the size of Hong Kong, will, for the most part, remain one big pile of sand. Bits of the project may be developed here and there but the idea of it becoming twice the size of Hong Kong is ludicrous.

5. The gigantic $95 Billion Jumeirah Gardens project being developed by Meraas will be cut way, way back in size and scope.

6. Burj Dubai will remain the tallest building in Dubai for a long, long time. It will be decades, if ever, before they try to build anything taller than the Burj.

7. Both residential and commercial real estate prices will continue to fall eventually bottoming out at 75-85% below all time high prices.

8. Dubai real estate prices will never return to their all time highs.

9. The Dubai real estate boom and bust will be looked at historically as real estate's version of the dot com boom and bust of 1998-2002.

10. Nakheel will go under or be absorbed (so I will have to change this profile photo).

11. Finally, the most important thing Dubai has lost is TRUST. And it will be a long time before they get it back.

 

[tetrapak]

Guys, if you have Dubai / Abu Dhabi related established websites with PR, please PM me the URL's, I would like to buy or exchange links.

 

[noy.com]

$$Domainer, can't be that bad. After dot com bubble, the internet is still alive )

Dubai World has the debt of $50-90 billion, while the investments into Dubai have been in excess of 500 billion. All the buildings, infrastructure etc. are there, so it is going to be used.

Btw, just registered AEmirates.com, A standing for "Arab".

Just wondering how a name like that could have been still available ))

 

[tetrapak]

Just to add a little spice, my friend who works at Business Bay wrote this:

"The first bit of bad news on the ability of one of Dubai's thousands of companies the press are all worried. They are not worried about Dubai, They are worried that their story doesn't spark any interest so they add bit or leave it open to suggestion.

Property Crash in Dubai? Yep some places are seriously depressed and will stay that way. But prices around the Burj have dramatically increased recently... Why? How? You ask... because the Downtown District is fantastic. Safe, secure, well designed and modern.

For all those with green eyes or blind to what really going on, come and see it first hand. Do not relly on newspapers or hersay..."

 

[gazzip]

Nice find Gaz, did you use instra? .

Yeah I got it through Instra, are they OK to deal with ?



.

 

[Smith]

Just to add a little spice, my friend who works at Business Bay wrote this:

"The first bit of bad news on the ability of one of Dubai's thousands of companies the press are all worried. They are not worried about Dubai, They are worried that their story doesn't spark any interest so they add bit or leave it open to suggestion.

Property Crash in Dubai? Yep some places are seriously depressed and will stay that way. But prices around the Burj have dramatically increased recently... Why? How? You ask... because the Downtown District is fantastic. Safe, secure, well designed and modern.

For all those with green eyes or blind to what really going on, come and see it first hand. Do not relly on newspapers or hersay..."

what real estate company does your friend work for?

 

[gazzip]

Is anyone here parking .ae names at sedo ?

Are you allowed to do that if the name is not lsted for sale or do you think it is too risky ?

Thanks



.

 

[nicedomains]

I think parking .ae is risky, just IMO. I haven't heard anything bad about them, just wondering because if I ever pull the trigger on a .ae I would prob go there since they are cheapest I've seen around.

 

[tetrapak]

what real estate company does your friend work for?

Bando.

Guys, nobody has UAE related websites? I have cash to buy links, and high PR sites to exchange.

 

[$$Domainer]

Dubai lowered to Junk

Credit rating agency Standard & Poor’s has slashed the rating of Dubai government-linked companies to junk status, which makes it much more expensive for them to raise funds.

This is the continuing fall-out from the Dubai World debt suspension announced last week which S&P says ‘is considered a default’, although the agency does not rate Nakheel, Limitless nor their parent Dubai World.

The companies whose debt is now rated as junk are:

-DP World,
-DIFC Investments,
-Jebel Ali Free Zone,
-Dubai Multi Commodities Centre Authority,
-Dubai Holding Commercial Operations Group,
-Emaar Properties.

S&P justified the move saying that ‘the likelihood of extraordinary support from the Dubai government appeared “low” after the emirate indicated it would not guarantee the debt of Dubai World, its flagship conglomerate’.

The agency added: ‘As evidenced in the case of Dubai World and Nakheel, the Dubai government is either unable or unwilling, or both, to provide extraordinary government support in the form of timely and sufficient financial support to those of its GREs that provide essential government services on its behalf’.

 

[nicedomains]

Bando.

Guys, nobody has UAE related websites? I have cash to buy links, and high PR sites to exchange.

Daniel, I have Abu dhabi blog.com see sig. Pm me the links of which sites of yours to add. I sold my other uae site earlier this year. AD blog has lots of content only pr1. I need to cleaan up the sidebar to make links more visible.

 

[$$Domainer]

Dubai equity market downgraded from overweight to underweight.

EFG Hermes cuts Dubai equity market to underweight - Politics & Economics - ArabianBusiness.com

 

[snoop]

Dubai equity market downgraded from overweight to underweight.

EFG Hermes cuts Dubai equity market to underweight - Politics & Economics - ArabianBusiness.com

Wouldn't take much notice of that, it is hindsight stuff, next they'll be warning about the risks of sub prime loans. The S & P downgrade is more serious though.

 

[$$Domainer]

Here are a few more interesting articles:

Creditors face reality of a bare cupboard

Dubai World prepares to sell overseas assets

FT.com / FTfm / Columnists - Why Dubai’s debacle does matter

Here is an excerpt from one of the articles about Nakheel:

The pricking of the real-estate bubble has put the company under severe financial distress throughout the year, forcing it to make fire sales and slash staff to keep its head above water. Some buildings in low-income projects Discovery Gardens and International City have been sold to other parts of the Dubai government, according to CB Richard Ellis, a real estate services provider.

The company has land available for sale but there are still few takers given Dubai's property supply glut. And much of the company's undeveloped land is part of projects that have taken down-payments from customers, so is a liability. "Elsewhere there isn't much left in the cupboard," says Nicholas Maclean, regional managing director of CB Richard Ellis.

Cash flow has dried to a trickle, with the company's incoming cash flow barely enough to cover salaries and electricity bills, say two former employees.

Contractors are owed as much as Dh11bn, the former employees say, even after some suppliers decided to take 75 cents on the dollar earlier this year as the government disbursed bail-out funds to the developer. "I was told 'take the haircut and sign non-disclosure forms, or go to the back of the queue'," said one consultant. "Luckily I took the money."

Nakheel has also been encouraging customers on projects far away from completion to shift to developments that are finished or approaching handover. Buyers of expensive villas on the Palm Jebel Ali, what was to be the developer's second luxurious Palm island and is now PERMANENTLY delayed, are being offered studio flats in lesser developments as compensation.

...and here is an excerpt for the Financial Times article:

Dubai’s economy expanded rapidly in the boom. But much of this growth came from construction projects of dubious economic merit. When the music stopped, property prices crashed. Knight Frank estimates the vacancy rate for Dubai office buildings is 40 per cent. Yet planned new construction is set to double the city’s office space over the next couple of years.

...and you can see from this why I think Business Bay will be a big flop.

 

[$$Domainer]

Here is the article that got The Times pulled from all UAE newsstands:

How Dubai's dream sank in a sea of debt - Times Online

 

[$$Domainer]

Excellent article from Forbes.com you should take a strong look at. The residential real estate market in Dubai is falling faster than any other location on the planet! And will continue down even further:

Dubai Deflated - Forbes.com

 

[gazzip]

This is pretty cool, a nice panoramic of Dunai Marina, check the map at the bottom left to see where its from

Dubai - 360° Panorama Photos - Virtual Tours

Here's a few more of them

Dubai - 360° Panorama Photos and Virtual Tours


.

 

[gazzip]

i have Domain name VisitDubai.us , is it worth Selling?

I doubt it, probably better to just develop it, I have the same .ae version which I will be developing eventually.

They've just changed their official portal from DubaiTourism(dot)com to DefinitelyDubai(dot)com for some bizarre reason :tri: .....most people in Britain can't even spell definitely never mind marketing it to an international audience where english is not their main language. Imagine the amount of wasted traffic when they try and use that address on TV !

.... typo heaven for someone definitlydubai.com ...Brand Marketing on Drugs IMO :tri:





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