Free-hold or ownership laws r not clear yet, unlike in the Emirates.
This is mainly why people fear to invest in property here. Look at the Zig-Zag tower for example, it was launched more than 5 yrs ago & still no where near completion; as a matter of fact its almost falling apart already due to neglect and poor quality of work.
A frend who has purchased a couple of apartments in New Salata is stuck with his investment now because they have not handed over the property to him, because there is no water & electricity connection yet and the real estate office has no idea wen its gonna come thru. All his plans have been thrown against the wind now coz based on wat the agency told him of his handing over date, he gave his 3 month notice to his landlord, but now has had to move into an exhorbitantly expensive villa coz his apartment is STILL not ready. It will b ready by.... inshalla!
I kno of some construction contractors who r laughin at the low quality of work they have been asked to follow in order to keep costs down & profits high! Ok, this might b the situation everywhere, but still...! Personally i cant digest this!
Thats not how things work! That just isn't acceptable!
Is it surprising then that a lot of local expatriate money is going into neighbouring countries? How could any1 feel secure under such conditions.
Free-hold or ownership laws r not clear yet, unlike in the Emirates.
This is mainly why people fear to invest in property here. Look at the Zig-Zag tower for example, it was launched more than 5 yrs ago & still no where near completion; as a matter of fact its almost falling apart already due to neglect and poor quality of work.
A frend who has purchased a couple of apartments in New Salata is stuck with his investment now because they have not handed over the property to him, because there is no water & electricity connection yet and the real estate office has no idea wen its gonna come thru. All his plans have been thrown against the wind now coz based on wat the agency told him of his handing over date, he gave his 3 month notice to his landlord, but now has had to move into an exhorbitantly expensive villa coz his apartment is STILL not ready. It will b ready by.... inshalla!
I kno of some construction contractors who r laughin at the low quality of work they have been asked to follow in order to keep costs down & profits high! Ok, this might b the situation everywhere, but still...! Personally i cant digest this!
Thats not how things work! That just isn't acceptable!
Is it surprising then that a lot of local expatriate money is going into neighbouring countries? How could any1 feel secure under such conditions.