20 November, 2008

Atlantis Opening.

On the day of the big opening the Atlantis will tonight be shown to the world. I can't honestly say that the excitement is killing me but those of you who know me wouldn't expect me to be hanging out in the Buddha Bar looking for B and C listers with my autograph book. However, that said the Hotel is now looking great and you can see from my last sky dive that it has taken shape and from this photo the effect from the 40 m AED firework display should be outstanding.

40m AED for a firework display! No doubt this has been embellished a little over the past week but twice as big as the Beijing Olympics and probably 5 times bigger than the future London Olympics. That's Dubai for you.

Property News.
Thank God it's Thursday! The week has not been full of much cheer this week i''m sorry to report. Redundancies are now rife in our sector of the market and i think we have only started to see the start of things to come. Brokers and developers are shedding jobs on a daily basis and it must start to hit the takings at the Barasti Real Estate Broker's Bar soon.
On a positive note there are sales out there folks. The vultures are swarming and the prices are softening but sales are happening and bargains are being bagged.
This week we've seen Garden Homes on Jebel Ali and Jumeirah sell and shorelines with sea views are holding up nicely. The rents on Shorelines are keeping the investors very happy with returns starting from 8% and upwards.
My spies tell me that next week is going to be full of high profile stories which i will endeavour to keep you upto date on with the inside track.

Tips
Palm Jebel Ali Garden Homes at anything below 50% and Waterhomes around 3.6m AED.
Don't overlook Shorelines with a sea view the rental returns are amazing.