http://glasshouse.beeyoot.com/glass-house-blog/A hyper-local blog about UAE real estate published by Beeyoot.comMon, 08 Mar 2010 05:36:39 +0000en-USSquarespace Site Server v5.9.2 (http://www.squarespace.com/)CrisisDubai real estateFinancePressPropertyRERAUAEHashim AhmedSun, 07 Mar 2010 05:00:00 +0000http://glasshouse.beeyoot.com/glass-house-blog/were-in-it-together.html361565:3876359:6942559It’s a Russian roulette scenario but fortunately no one has the money to buy any bullets either. It was heartening to hear last week that one property developer in Dubai has held up its hands and admitted that we’re in a mess and we need to work out an amicable solution with our customers.

The announcement from investors involved in the Park Towers development in Dubailand said that they had come to an arrangement with the developer to co-own the land.

According to RERA’s own website only 7% of the projects listed are on schedule, as per research conducted by The National. ]]>http://glasshouse.beeyoot.com/glass-house-blog/rss-comments-entry-6942559.xmlDubai real estateFinanceGlobaleyeJohn CharcoalUAE MortgagesAdminTue, 02 Mar 2010 13:38:45 +0000http://glasshouse.beeyoot.com/glass-house-blog/uae-mortgage-market-recovery-expected-soon.html361565:3876359:6884568UAE Mortgage market expected to grow in 2010 Business 24-7, a business news publication in UAE, recently interviewed independent mortgage finance experts from John Charcoal and Globaleye about the current and near future expectations on lending for property buyers and investors.

Low LTV (loan-to-value) ratios and interest rates that still remain much higher than most mature markets are redundant understatements typical of lending in UAE, especially for end-user home buyers. ]]>http://glasshouse.beeyoot.com/glass-house-blog/rss-comments-entry-6884568.xmlHashim AhmedSun, 28 Feb 2010 05:31:00 +0000http://glasshouse.beeyoot.com/glass-house-blog/and-the-rains-came.html361565:3876359:6872088Newly built property have poor finishings How was it for you last night? Did the house or apartment you are living in get flooded or was it effectively water proofed.

It’s funny how little we think about the rain in Dubai, but when it comes it’s always a major surprise and for those whose homes are porous it becomes a major clean up operation. Buckets, newspapers (great for soaking up the water), sponges and clothes need to be at hand. ]]>http://glasshouse.beeyoot.com/glass-house-blog/rss-comments-entry-6872088.xmlCar ParkinDubai MarinaDubai real estateEmaarOpinionHashim AhmedWed, 24 Feb 2010 11:43:32 +0000http://glasshouse.beeyoot.com/glass-house-blog/dubai-marina-needs-car-parking.html361565:3876359:6813375Extra parking will improve overall appeal of Dubai Marina Dubai Marina is a beautiful place; it has lovely buildings, shaded walkways, boutique brands, great looking people, and luxurious yachts. Don’t you just love it? I certainly do, every time I get out of my car and take a stroll along Marina Walk.

There’s just one problem. It’s the bit that comes before getting out of the car. I’m talking about parking the car. Unfortunately for most of the residents I’ve met in Dubai Marina, who live in anything other than the first six Emaar towers, parking is the bane of their life. ]]>http://glasshouse.beeyoot.com/glass-house-blog/rss-comments-entry-6813375.xmlDevelopersDeyaarDubai real estateOpinionAdminSun, 21 Feb 2010 13:45:57 +0000http://glasshouse.beeyoot.com/glass-house-blog/departed-real-estate-developers-leave-another-fine-mess.html361565:3876359:6776454Markus Alexander Giebel - Deyaar CEO Deyaar, a Dubai real estate developer, recently reported a 95% decline in profits. They made AED 645.7 million profit in 2008 and just AED30 million in 2009. Not a rosy picture.

But we should still give them credit - at least they are around, serving customers, keeping the operational cash flow moving and making albeit a small profit, but a profit nonetheless. ]]>http://glasshouse.beeyoot.com/glass-house-blog/rss-comments-entry-6776454.xmlDubai real estateFreehold PropertyOpinionResidency VisaUAE PropertyHashim AhmedWed, 17 Feb 2010 13:36:00 +0000http://glasshouse.beeyoot.com/glass-house-blog/clarity-needed-on-residency-visa-issue.html361565:3876359:6723402Residency visas will boost property sector. I think we all know people who bought property in Dubai for the simple reason that they were going to receive a residency visa.

The section outlining residency visas in property purchase agreements (PPA) would typically have a clause which read something like this: ]]>http://glasshouse.beeyoot.com/glass-house-blog/rss-comments-entry-6723402.xmlBanksDDubai MortgagesDubai real estateFinanceTamweelHashim AhmedSun, 14 Feb 2010 13:36:58 +0000http://glasshouse.beeyoot.com/glass-house-blog/banks-must-remember-their-customers.html361565:3876359:6687695 Banks in the UAE have gone from offering 95% loan-to-value mortgages to offering very little today. They have gone from lavishing their customers with prizes to lavishing them with notices from bailiffs.

At times it’s difficult to comprehend the one hundred and eighty degree turn in policy and the resulting switch in the fortunes of so many Dubai residents over the past year. Take the case of the Indian couple, as reported in The National on 27th January 2010, who fled Dubai as they were worried about potential prosecution from their lender Tamweel over bounced cheques. ]]>http://glasshouse.beeyoot.com/glass-house-blog/rss-comments-entry-6687695.xmlTechnologyAdminSun, 07 Feb 2010 15:46:13 +0000http://glasshouse.beeyoot.com/glass-house-blog/beeyootcom-top-10-on-middle-east-brands-on-twitter.html361565:3876359:6595436 Beeyoot.Com, a Dubai real estate portal, is among top 10 businesses on a listorious list curated by Spot On PR for “Business, consumer and public sector brands using Twitter in the Middle East” ]]>http://glasshouse.beeyoot.com/glass-house-blog/rss-comments-entry-6595436.xmlPressHashim AhmedSun, 07 Feb 2010 15:37:29 +0000http://glasshouse.beeyoot.com/glass-house-blog/number-of-dubai-real-estate-projects-stalled-in-hundreds.html361565:3876359:6595398 Nearly 20% of 1110 real estate projects in Dubai are on hold The National reports today.

“An analysis by The National of 742 building reports available on RERA’s website shows just 7 per cent of projects are on schedule. Another 6 per cent have not yet started; 66 per cent are delayed or seriously delayed; and 20 per cent are on hold.” ]]>http://glasshouse.beeyoot.com/glass-house-blog/rss-comments-entry-6595398.xmlOpinionAdminWed, 03 Feb 2010 06:31:15 +0000http://glasshouse.beeyoot.com/glass-house-blog/uae-home-loans-updates-from-dubai-mortgage-broker.html361565:3876359:6542138 I’m very excited to be a part of Beeyoot.Com’s blog. In the true spirit of a Glass House - being transparent and able to see through it - I will try to post regular updates on important issues affecting the UAE mortgage scene.

Of course, they best way to get the most relevant information is for you to send us your feedback and comments. You can always use the contact form here or contact me directly at dean@independentuae.com. Your questions will be answered directly in a blog format here to give the benefit to all our readers. ]]>http://glasshouse.beeyoot.com/glass-house-blog/rss-comments-entry-6542138.xml