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.

 

[nicedomains]

Thanks for the POV Smith, you would know more since you are there. Why is it such a TERRIBLE place to do business?

 

[Smith]

I might add that their comments about exploding growth are now so dated it's funny, they missed the ball on Dubai.

Thanks for the POV Smith, you would know more since you are there. Why is it such a TERRIBLE place to do business?

Sort answer. Because no one knows what they are doing.


When you try to get something done it's amazingly difficult. The communication between departments and within departments is a joke, so when you ask one person something, the next tells you something entirely different.


You see it's all trial and error in the UAE . . . and it shows, they announce new laws one day, then two months later say that they have canceled them, they start building things, then tear them down.


You need passport photos for everything you do and need letters from your employer for many things stating that they don't object to what you're doing, this includes such things as getting internet set up.


On top of all of this, the gov is starting to gouges businesses & people with more and more fees constantly.


I would rather do business in France again over the UAE, at least the gov staff all tell you the same idiotic rules.

 

[gazzip]

Having a UAE office, they hope to open new relations with the National wealth fund operators who fund many of the largest networks of businesses in the Middle East. Hundreds of billions of dollars are going into tourist developments over the next few years. To become the top tourist destinations the Dubai, Abu Dhabi must build a greater presence online thru advertising, traffic building, creating a tourist brand, etc..

I am sure Kevin Ham is a smart guy, his services will be sought after there.

Thanks, it sure will be interesting to see what they do

I might add that their comments about exploding growth are now so dated it's funny, they missed the ball on Dubai.
.

I bet you bought all the best .ae names already :lol:

Seems like alot of workers are moving on to Oman to get jobs now .

Do you think Dubai is going to take a while to pick up again ? if so, how long do you think it will take.


ps - for anyone living in UK (that's interested in Dubai) check out ITV1 on Thursday 29 Jan - New programme Pierce Morgan in Dubai.



.

 

[Smith]

Do you think Dubai is going to take a while to pick up again ? if so, how long do you think it will take.

Tough to call, I'm thinking that this is what we'll see:

Hit Bottom 6 - 12 months from now

Plateau @ Bottom 18 - 36 months post bottom

Recover to pre-bust levels: Never

 

[$$Domainer]

Tough to call, I'm thinking that this is what we'll see:

Hit Bottom 6 - 12 months from now

Plateau @ Bottom 18 - 36 months post bottom

Recover to pre-bust levels: Never

This is all TRUE! All of Smith's last few comments are all TRUE.

Those OUTSIDE of Dubai still think it is the Promise Land. Those ACTUALLY THERE know better.

 

[kev]

I read a very interesting article about Dubai today

Have a read - well worth it!

http://www.mailonsunday.co.uk/femai...n-No-Piers-Morgan--incredible-city-Dubai.html

 

[Smith]

Life in Dubai is awesome if you're being shown around on an unlimited budget for sure.

Articles like this are more telling of reality:

Local police have found at least 3,000 automobiles -- sedans, SUVs, regulars -- abandoned outside Dubai International Airport in the last four months. Police say most of the vehicles had keys in the ignition, a clear sign they were left behind by owners in a hurry to take flight.

 

[$$Domainer]

Life in Dubai is awesome if you're being shown around on an unlimited budget for sure.

Articles like this are more telling of reality:

"Local police have found at least 3,000 automobiles -- sedans, SUVs, regulars -- abandoned outside Dubai International Airport in the last four months. Police say most of the vehicles had keys in the ignition, a clear sign they were left behind by owners in a hurry to take flight."


WOW!! They are so eager to leave they just leave their cars there and fly away!!

Another big problem for Dubai is that now investing in other parts of the world such as the USA has become very cheap due to this downturn. Therefore many investors would rather invest in a more "stable" environment like the USA, rather than Dubai and other areas of the Middle East.

Here is just one example. MGM Mirage Corp is an American company trading on the New York Stock Exchange. It is a great company, in fact Dubai Holding pruchased about 9 percent of it at, if I remember correctly, $56 a share. Then the stock went to $110 a share. Now, due to the downturn, the stock is trading at only $9.30 a share. An incredible deal from an investment point of view if you have some time. There are loads of companies like this-- trading very low that will rebound BIG when things improve. And the same goes for real estate. So why invest in Dubai? It is no longer as compelling as it used to be, not even close.

 

[saucey]

The smart money ALWAYS invests in real estate.

You must remember, MGM Mirage Corp may be a steal of a deal right now, but so is real estate...

Not a problem to dabble and diversify in stocks and bonds... But, real estate is where the smart money is.

You can not argue this point.

 

[Kate]

Real estate can take a hit too

 

[$$Domainer]

Here is the entire news report that Smith was mentioning in an earlier post about people driving their cars to the Dubai airport, leaving their cars there, and leaving Dubai for good:


Economic Truth and Airport Parking Lots
by Rami G. Khouri

DUBAI -- OK, here’s my definitive litmus test for the resilience and depth of Dubai as a serious place that can continue to expand economically after weathering the current global economic recession:

How many abandoned cars actually are parked at Dubai airport?

In a land of superlatives and seemingly endless hyper-growth, the scale of the stories circulating about the number of abandoned cars at the airport is equally gigantic. In the past few weeks in Beirut, Abu Dhabi and Dubai, I have heard friends and acquaintances report authoritatively that,variously, 15,000 or 10,000 or 6,000 cars have been parked and abandoned at the airport by their foreign owners. These people lost their jobs, did not have enough money to complete their car payments, and found the easiest way out was to park their car at the airport and leave town for good.

The variety of stories circulating about this little drama is matched by the range of reports one reads and hears in the Gulf about the real state of the local economies in Abu Dhabi, Qatar, Dubai and other emirates –from deep disaster, to a manageable two-year recession, to a simple little blip in the charts that will see economic growth only drop slightly from nine to six percent, or something of that magnitude that totally removes any impact of a global economic collapse -- miraculously detouring around these enchanted lands.

The abandoned cars are a good barometer of two important dynamics: Some core, critical facts and figures about their economies are simply not known to the public, but at least the gap in verifiable data is bridged by splendid rumors.

Foreign and local investors need to know the truth about these economies that have grown so impressively in large part due to surplus oil wealth shifting into speculative investments in real estate projects. If investors have doubts about the economic facts of these sheikhdoms and emirates, they will quickly send their money to other markets where the facts are known. Investors do not mind bad news about economic losses or retrenchment. What they despise and fear is being left in the dark about economic realities.

Also, providing accurate, verifiable information about the realities of the economic downturn in the Gulf may be the first major “political” test these countries face in modern times. They can cement relations between citizens and their state on the basis of something more enduring than short-term materialism. If they can speak honestly to their own citizens and provide them with a clear, comprehensive picture of current conditions and expected trends, they will have enriched the entire Arab world with an example of true pioneering development and state-building that is much more meaningful than a shopping mall or a Hummer showroom.

We need one Arab government -- just one -- that will react to the current global and regional economic recession by speaking the truth to its people, disclosing real unemployment rates, debt buy-outs, contraction or expansion trends, and other such things. I have not seen such an example to date, but I suspect that the first Arab government that musters the courage to speak honestly to its people will reap a reward of rare and incalculable proportions: the trust of its people. I would like to hear one sheikh, emir, king, sultan, president-for-life, or wise and vanguard-beloved leader of the dazed and pulverized masses explain the true extent of the economic crisis that is upon us, and ask for citizen participation in weathering the storm and generating ideas for coming out of it in decent shape.

The various emirates throughout the Gulf region that have grown at breakneck speed in the past three decades are having to adjust to supply-and-demand economic realities after living through nearly four decades in which they thought that they operated by different rules. These statelets have enjoyed sufficient income to keep their citizens living happily for the most part, and also to offer jobs to millions of guestworkers while generating spectacular speculative investment opportunities for all those who dared to gamble. Now that the speculative bubble has burst, citizens, guest workers and rootless investors alike need some accurate news about just how bad or manageable things really are.

Anybody can be a popular leader by offering endless commercial contracts when the oil wealth is flowing non-stop. But only real leaders succeed when times are hard, oil income is down, economies are shrinking, and they maintain their credibility by telling their people the truth about the difficult times.

The current economic recession is a moment that cries out for an Arab leader who can speak truthfully to his people on the issues of the day that really matter, including how many abandoned cars may be parked at the airport. I suspect that the chances of this happening in the emirates and sheikhdoms of the Gulf is probably higher than in any other Arab region –if the Gulf’s self-image of pioneering, orderly, humane national development is a fact rather than mostly an image.

 

[namegame]

Many Dubai, Abu Dhabi, Emirates and UAE .com Premium Names at Great Prices!

See the list at Domains For Sale - Fixed Price

 

[c4smok]

http://www.nytimes.com/2009/02/12/world/middleeast/12dubai.html?_r=1&em=&pagewanted=all

Laid-Off Foreigners Flee as Dubai Spirals Down

This really sucks =(

 

[gilescoley]

Hi

I am selling these "Reem Island" domain names

if you are interested in any, please make me an offer.



ReemIslandHolidays.com
ReemIslandFood.com
ReemIslandAccommodation.com
ReemIslandBookings.com
ReemFood.com
ReemAccommodation.com
ReemBookings.com
ReemNightLife.com


Giles

 

[uliss]

How about Reemco.net?

It's not taken, hope someone will like it

 

[pokainc]

I believe the really premium Dubai names will still be valuable, just have to wait a bit.
but whoever had registered any randomness just because it contained Dubai is gonna see that it wasn't a smart move...
lately I had about 5-6 Qatar sales in the mid XXX$ to 2 individuals. It's strange but it's like for now, Qatar domains are temporarily doing better than Dubai domains.

Interest is still there though to a certain extent, I saw traffic to DubaiTransport.com go from around 100-150 a month to about 250- 300 visitors a month within the last 2 months.


If anyone has had recent Dubai/UAE/Qatar sales lately, post them if possible.

 

[gazzip]

I believe the really premium Dubai names will still be valuable, just have to wait a bit.
but whoever had registered any randomness just because it contained Dubai is gonna see that it wasn't a smart move...

...Will they ever realise the value of buying .coms for an international market ??


Arabic domain names given go ahead in UAE

http://www.arabianbusiness.com/548407-arabic-domain-names-gven-go-ahead-in-uae



.

 

[$$Domainer]

Emaar May Shelve Projects Worth $30 Billion

Take a look at this article from Zawya entitled 'Emaar may Shelve Projects Worth more than Dh90b.' The whole Dubai real estate market is completely going to crap. Period. Here is a paragraph from the article:

"The Warsan Estate, Asmaran and Maysan projects are no longer viable," the The Emaar Investor Group said in its petition, according to Zawya Dow Jones. "There is NO DEMAND as many investors have ALREADY LEFT THE MARKET leaving an oversupply, there is NO MONEY AVAILABLE to investors to continue payments, and there is NO VALUE IN THESE PROJECTS as they are priced far above the market value of similar and better located projects in Dubai."

http://www.zawya.com/story.cfm?id=ZAWYA20090306064548&l=064500090306&zawyaemailmarketing

I don't think Palm Jebel Ali or Palm Deira will ever get developed. Demand is zero for these two. I doubt if Dubai Waterfront will ever get developed. And Dubailand will only be a fraction of its original plan. I could list more but what is the point.

 

[Smith]

Take a look at this article from Zawya entitled 'Emaar may Shelve Projects Worth more than Dh90b.' The whole Dubai real estate market is completely going to crap. Period. Here is a paragraph from the article:

"The Warsan Estate, Asmaran and Maysan projects are no longer viable," the The Emaar Investor Group said in its petition, according to Zawya Dow Jones. "There is NO DEMAND as many investors have ALREADY LEFT THE MARKET leaving an oversupply, there is NO MONEY AVAILABLE to investors to continue payments, and there is NO VALUE IN THESE PROJECTS as they are priced far above the market value of similar and better located projects in Dubai."

http://www.zawya.com/story.cfm?id=ZAWYA20090306064548&l=064500090306&zawyaemailmarketing

I don't think Palm Jebel Ali or Palm Deira will ever get developed. Demand is zero for these two. I doubt if Dubai Waterfront will ever get developed. And Dubailand will only be a fraction of its original plan. I could list more but what is the point.

Feeling guilty about hyping everyone up?

 

[$$Domainer]

Feeling guilty about hyping everyone up?

LOL! As if I could tell a year and a half ago when this thread started that this would happen! You are too funny Smith. BTW, OffPlan.ae must be doing great. You were really right about all the demand for off plan properties that would be coming your way when you started that wonderful site.

Furthermore, in the LONG RUN, Dubai, Abu Dhabi and the rest of The Gulf will come back STRONG. Qatar has not suffered at all and Saudi is still expanding. Dubai will still end up being the financial center of the entire region and a world financial hub. And Reem Island will still be the centerpiece Icon Mega Project of Abu Dhabi. The only thing that has changed is the time line. It will now take longer.

 

[Smith]

I was kidding for the most part, I still think it got over-hyped on this site though (by everyone) and people bought a lot of names that are totally worthless today & 15 years from now.

The Offplan site actually did great. The few months it was active it generated leads that resulted in nearly 7,000,000 dh ($2,000,000 usd) worth of sales. Shame it didn't continue longer, but I'm more than happy with the results. The site was pretty simple nothing complicated, but we developed out the back end into a standalone lead management program, that was the real value of the exercise.

We'll also be waiting for the situation here to get better, but it's going to take a long long time, it will never reach the level it was before the total collapse, nor will it reach the heights it thought it would, but it will still be interesting.

This region has a lot of challenges ahead of it that no one really wants to talk about on here and the next couple of decades are going to be a mess I'm sure. But money is to be made when the blood is on the streets as they say.

 

[$$Domainer]

I was kidding for the most part, I still think it got over-hyped on this site though (by everyone) and people bought a lot of names that are totally worthless today & 15 years from now.

The Offplan site actually did great. The few months it was active it generated leads that resulted in nearly 7,000,000 dh ($2,000,000 usd) worth of sales. Shame it didn't continue longer, but I'm more than happy with the results. The site was pretty simple nothing complicated, but we developed out the back end into a standalone lead management program, that was the real value of the exercise.

We'll also be waiting for the situation here to get better, but it's going to take a long long time, it will never reach the level it was before the total collapse, nor will it reach the heights it thought it would, but it will still be interesting.

This region has a lot of challenges ahead of it that no one really wants to talk about on here and the next couple of decades are going to be a mess I'm sure. But money is to be made when the blood is on the streets as they say.

I really don't blame Dubai for any of it. It is this whole world economic collapse that hurt Dubai. If not for the global financial melt-down Dubai and all of the UAE would still be doing great. Dubai had no control over the world economies plunging and the price of oil collapsing. Dubai did things that had never been imagined, and the world was in awe. In six short years Dubai did a PHENOMENAL job. I would not call what is going on in Dubai right now a "total collapse"... but it certainly is horrible.

At least you are still there Smith. I know lots of people who are just running away. A friend of mine from India opened a new real estate company in Dubai right at the peak last July. She was so thrilled. She now sells jewelry imported from India from the office.

 

[Smith]

There is nothing happening here now, Dubai dead in the water, really the only thing Dubai had going for it was it's image, not that that has been badly badly tarnished and they have brought the entire region down with them. See Dubai was a model based on everything going well forever, it's a completely flawed model and people have always known that. This crash in the UAE/MENA region may be triggered by the global situation, but it was inevitable.

Virtually everyone I know here is leaving, that includes people that have been here over 20 years.

As for me, my bags are packed, and I'm leaving in 2 weeks. There is honestly no point being here now. Winter is nice, but summer is basically 6 weeks away and virtually nothing makes it worth being here in the summer. Plus I've got a kid on the way and since I have the ability I'm going to have it back home in Canada.

 

[$$Domainer]

There is nothing happening here now, Dubai dead in the water, really the only thing Dubai had going for it was it's image, not that that has been badly badly tarnished and they have brought the entire region down with them. See Dubai was a model based on everything going well forever, it's a completely flawed model and people have always known that. This crash in the UAE/MENA region may be triggered by the global situation, but it was inevitable.

Virtually everyone I know here is leaving, that includes people that have been here over 20 years.

As for me, my bags are packed, and I'm leaving in 2 weeks. There is honestly no point being here now. Winter is nice, but summer is basically 6 weeks away and virtually nothing makes it worth being here in the summer. Plus I've got a kid on the way and since I have the ability I'm going to have it back home in Canada.

WOW!! I knew it was bad but I didn't think it was that bad. If YOU are leaving it must really be horrible. The whole thing is really sad. Not much more to say.

 

[namegame]

Bad news for our Dubai domain names:

http://seattletimes.nwsource.com/html/nationworld/2008827144_dubai08.html