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The last three years have been hard in most construction jobs markets but the Gulf is booming once again. No only are existing projects in Dubai gaining momentum once more but Qatar, Saudi Arabia and Abu Dhabi are approving 100s of new construction projects.

http://www.gulfconstructionjobs.com/201 ... again.html

Oh is it really? What with all the hundreds of Dubai projects either being put on hold or cancelled - I don't think so.

I have to say that when I was in JBR recently I noticed work going on around the marina that seemed to have been on hold in the past year. There was definately more action on the construction front.

There was an article speaking of tens of thousands of properties hitting the market at the end of the year. It stated that it is actually cheaper for the projects to be completed that to walk away. To walk away would mean developers would have to return the money laid down for the purchases. So give the money back, walk away and take a hefty lose, or proceed and hope for the best.

That works in theory BB, however if people invested before the Escrow laws came in, the money has all gone so there's nothing to give back and nothing to use to complete certain projects.

RERA cancelled about 150 projects in the last 6 months and has around the same number scheduled for cancellation again.

Chocoholic wrote:That works in theory BB, however if people invested before the Escrow laws came in, the money has all gone so there's nothing to give back and nothing to use to complete certain projects.

RERA cancelled about 150 projects in the last 6 months and has around the same number scheduled for cancellation again.

Cancellation due to developer's bankruptcy or developer's who could afford to walk away from the projects - with the money they collected to help offset a fraction of their losses.

I never, ever regret the day when we turned down the chances to purchase at the "insider" prices. Arabian Ranches could be bought for a song when going up and were beautiful villas but from what I understand they are in the stages of deterioration!!!

Seems to be on the rise in Qatar with the wining of the word cup and projects like Doha land which has now changed its name to Mshraieb, maybe reminded them of Dubai land too much ?

desertdudeshj wrote:Seems to be on the rise in Qatar with the wining of the word cup and projects like Doha land which has now changed its name to Mshraieb, maybe reminded them of Dubai land too much ?

What is on the rise? Buying or getting screwed by developers??

Construction, which in this part of the world emcompasses both.

desertdudeshj wrote:Construction, which in this part of the world emcompasses both.

So, it's construction that is on the rise??? Of course "buyer be screwed" is the policy.