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So what. The same thing happened all over the world including all over USA and Europe, and is still going on in Europe. It is due to the plunging world economy that started in 2008 and not the fault of Dubai.

Yes please let's keep it real! I'm still waiting for my apartment which STILL isn't completed, it's now 4 years plus past the completion date! The 'boom' is definitely NOT back.

Chocoholic ,Where did you buy Chocs?

Sports City.

Well judging by the crappy furniture in your JBR apartment - yes you do. And sweetie, pink is so not your colour for swimwear.

Chocoholic ,Mmmm. long way to go before completion.

drewpeacock , Actually my building IS finished! Is in CRW but beause there are 3 buildings and they're all linked they all have to be finished before handover - total pain.

This "Boom" actually meant the "Boom" heard when things are blown up... Still though the post was entertaining for 2 secs.

$$Dubai wrote:So what. The same thing happened all over the world including all over USA and Europe, and is still going on in Europe. It is due to the plunging world economy that started in 2008 and not the fault of Dubai.

I do finance for a living. Yes financial crises happened all over the world for the same reason it hit Dubai - excess. Ron Paul warned against bailing out troubled mortgage lenders in 2003, if they didn't, then market would have crashed with much less impact in 2003/2004, but it didn't due to the bailouts and increased the money flow in property market there and all over the world. With inflated finances, you had the developers lunching each day and buyers paying small installment to buy and flip, it was like a tornado feeding on itself with not much real demand and money behind it.

Simply, it was not just dubai but dubai property market had out of proportion. I don't want the boom like that to come back, it is just bad finance and economics. Normal growth market was between 2004 and 2006, whoever bought during that time from a reliable developer made a good investment. Property market is picking up in Dubai at a normal pace, which is a good sign, but not same as 2007/2008 boom.

Chocoholic , They should not hand them over all at the same time. This will kill off any comeback. But I am just a dumb infidel. EMAAR have started building again which is crazy.

benwj , But the 3 buildings are all linked, meaning they cannot hand them over individually.