Property on rent Bubble going to Burst now
I beleive that Many Many Flat/Villas are vacant at many locations & More new coming up in next 1 year...
The Demand & Price Rate are artifical..or Real Estate have tasted easy way of renting lesser Falt to occupant & make same Money...
I stay at Al Sadd standard 2 Bed room + Hall + 2 Bathroom Kitchen rent 8000 Qr per month, but you may see so many building coming with No Tenant in side....
Its Time now...if Landlord dont take charge now..then the Bubble will burst giving bad results... Better they should reduce little rate & get there Flat full with Tenant then to keep half Empty.
The reason Flat are still little in demand because Many Oil & Gas Industries Enduser have occupied the Rented Flats, They are constructing there own Villa & Building for there Empolyee once they are ready...This Property boom shall go...
Every Business has 5-7 good Year, it has to go down..Its Nature rule....no one can change it applies around the world...
What say you..
Sorry we are going away from the Subject the Points is Dubai Is artifically keeping the Rent High to sell the free hold properity... I tell you all the money Invested are Black money or Earning of very Rich people..
Normally people who have invested from his saving will have very bad return...Becase It Desert they will keep constructing Finally there will no one buying back with good price... It basically Plan to make Expat spend whatever they earn in the same country instead take it to there own countryiess(For Dubai)...
All the Oil & Gas Enduser Hire people extra...If you see Total Operation at Qatar totally allll QP, Qatar Gas alll alall they are atleast 3 time more people working normal operation they do...Because 50% people dont work at full capicity Or you can say The Nature as Bless them so much Extra Oil & Gas they can afford to do all this extra... half of the work is Sublet to Contractor...
Reliance Industries/Reliance Petrolchemical has equivalent refinerey & process but if you compare man power it is less the 50% of Qp... Here every Oil & Gas people has sooo many Buyer, Admin people....3 time.s..
hearing this for an year now.. no effect.. instead the rents went up...
@red_pope, maybe because they actually need employees for the company and trees can't work.
However if it's a matter of talking about polution, Ras Gas for example is labeled as one of the top 'green' refineries in the world.
Anyway, there'll be plenty of trees sprouting up in the Middle East's largest park.
http://iloveqatar.net/forum/read.php?26,1926
@vignale, that's why I said to eby that I might be wrong.
It could very well be Pearl GTL. I wouldn't call it 'inside info' though. Just something I over-heard in a cafe ;)
Anyway, the whole point is that there is going to be an influx of workers so I doubt we'll have as much empty space as oriental was expecting.
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Dolphin is finished and there is no expansion for the moment. Must be Pearl GTL as they have built a whole village for these people. 40,000 is the number of construction they peak at. Normal operations will probably only be a 1000
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YOU DONT KNOW ME, DONT EVEN TRY !!!
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Whoami, the Dolphin Plant is already constructed and was started up last year. And during during construction of that Plant only 20 000 workers were working there. So your inside information, about hiring 40 000 workers, does not make any sense at all.
Directly from Landlourd.
Could you imagine the HR and accounting payroll work and nightmare for that amount of people?
Probably that means 40,000 new cars for Doha...
Why not plant 40,000 new trees?
My confession Booth is available at your request....
I think the demand will stay stabile for the next few years so I doubt rents will come down. I would never give 24 months rent in advance, also how do you know he is the true owner, many people have been ripped off this way. Its insane to ask for 2 years up front!
yes Dolphin is bringing in 40,000 people in. My uncle is assisting the board of directors.
As far as I'm aware, they're searchiing for accommodation because they wont all be near the refineries etc..
@eby, sorry what did I get wrong? (perhaps I made a mistake)
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What sort of guarantee do you get with prepaying rent? A colleague was recently told her compound is being emptied to rent to a company - all 10 houses are lived in by families who paid a year in advance - and the checks of refunds for that money bounced. Their attorney says they will not win so shouldn't spend money on him fighting it. They are out 100,000 QR. Bears some thought.
Behind land mark
where is Gharafa? that is 10k/mo for me that's a good deal. you wont get high interest on time deposits anyway.
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they say one of the answers is if the white elephant the building near Hamad? will be open as housing for their staff rent would go down..dont u think? law of demand and supply
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Today I have been in a villa.Its 3 bed room brand new in Gharafa rent is QRs 240000 for 24 months I think its a good deal.But I have to pay 24 months rent in advance.
The villa is fully furnished and posh interiors, they provide 24 hour security and maintenance. Common facility for 20 villas are club house, swimming pool, massage centre, Internet café.
apparently 10% of buyers in Dubai are Brits and they are not buying right now with the slide in house prices in the UK. Same probably goes for the rest of the Europeans.
I think Whoami got it wrong .. its for Pearl GTL project
it's difficult to predict but if most companies would opt to build their own housing for staff definitely the bubble would burst. everyone wish it would. The problem is if they cant afford the cost of real estate property. Besides, they could bargain w/ landlords if they'd rent the whole building thus cost-saving for them...short term aspect though.
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..Not if the government controls things... Look at Dubai..The bubble has not burst.. i wish it would, but!
I am sure loty of Oil & Gas related fanlies will shift to Messaied and it will certainly effect on market.
There are building too many hire end villas and apartments as they believe that is where the most money is. Problem is that not all companies provide such luxury housing or a sufficient housing allowance.
However for the people who own the villas and apartment blocks at least they can form their own cartel to keep prices high. The risk is that one of them breaks ranks and starts undercutting the others...
Are you saying Dolphin Energy is brining in 40000 new people??
Whoami out off 40,000, 30,000 will bachelor or people staying Porta Cabins.. at RLC
What Dolphin is doing Pumping Gas to UAE & Oman,,
Just Gas Sweetening process.. I dont think they will bring more people like 40,000 People...
I don't.
Especially with Dolphin bringing in 40,000 new jobs for people. I think it'll become stable, yes more apartments, but no way burst. Not yet anyway.
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