Dear LRE Officials,

What is the Rate of 07 Marla Plots in DHA Phase 6 Lahore?
Please also let me know, Whether 05 or 10 Marla available in DHA 6?

Dear LRY team and all others,

Please inform sincerely; the expected time of possession for DHA 9/10 and also its expected Development etc charges.


Regards,
Asif Sardar

Formanites Housing Socity vs State life Phase 2
Dear LRY team and all others,

Please inform the scope of Formanites housing society and high light its features (Price, location, infrastructure wise).
Is this scheme trust worthy like DHA? and free from Qabza groups?
Anybody heard any scandal in this scheme?

Please also give your comments about State Life Phase 2.

Regards,
Asif Sardar

Valencia
Assalam-o-Alikum,

I need a 10 Marla plot in valencia preferably at good location. Please contact at maliknadeem44@yahoo.com.

Many thanks and regards,

Dubai Downfall
The population in Dubai is likely to decline by 8 percent this year, due to recession in property sector, according to a new report.

The report, released by the UBS Investment Bank indicates a drop in population by 8 percent this year, which in turn would result in an oversupplied market, leading to 30 percent fall in house prices within next two years.

The researchers at UBS Investment Bank, in their report, mentioned that a slowdown in housing market, apart from the challenging macroeconomic conditions, may result in decrease in the number of foreign workers moving into the region for job purposes, and fewer investors being involved in local investments, including real estate.

With reduction in sales, property companies in Dubai, and in other emirates have been laying off staff, reducing marketing budgets and delaying projects. This in turn, has affected all major businesses, including construction companies, advertising firms and contractors.

According to the report, in case the property-related labour force dropped by 20 percent this year, and by 10 percent next year, this would result in a housing surplus of 87,000 units, which constitutes 27 percent of total stock in Dubai, towards end of the next year.

Such a situation would result in 30 percent decline or may be more than 50 percent decline, in prices, the report stated.

Dubai is getting more vulnerable to the recession in property sector, than in other emirates, mainly because of the major construction works happening here, and due to the fact that more than 50 percent of its economy is involved in property sector, the report said. On the other hand, its neighboring emirate Abu Dhabi is already witnessing an undersupply of housing, and the economy there is dependent on petrochemicals, and hence, may be less severely affected than Dubai, the report said.

The UBS researchers have recommended that the Dubai Government pass should pass regulations that make life easier for laid-off expatriates to continue their stay here, while looking out for new jobs, as maintaining expat population is critical for long-term property market and economic sustainability of Dubai, the report concluded.


http://www.estatesdubai.com/2009/01/dubai-more-vulnerable-to-real-estate.html

Ajman Visa
The Ajman Naturalization and Residency Department has stopped issuance and renewal of investors' visas for freehold property owners in Ajman.

Investors and property buyers will not be able to even obtain a visit visa for their spouses or children, but, most developers are still continuing to sell properties promising a residence visa.
According to sources, no visit visa or residence visa will be issued to people who purchase properties.

For obtaining a residence visa, one should own a business or a job in Ajman. Any unemployed will not be issued visa, even if they own a freehold property, revealed officials.

Ajman is the second emirate to have taken this stand, after Dubai. About 20,000 or more foreigners have already moved into their freehold homes in Dubai, and a few more have been handed over to buyers in Ajman. Ajman has been witnessing major construction activities in the recent months.

This initiative is aimed at regulating the visa rules. Till date, many used to either purchase an apartment to obtain a residence visa and then sell the apartment to somebody else, who already had a visa.
Labels: Ajman, Latest News

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