Wednesday, June 25, 2008
The real estate battleship in Dubai apparently has three visionary captains: Real Estate companies, Landlords and investors who seem to have a separate magical vision about Dubai's future, and Woody Woodpecker (a.k.a. Real Estate Regulatory Authority). The third party just decided to smack the first party's deal to give the second party visas.
Apparently Woody is laughing his head off as he pecks his holes in the growing Dubai real estate tree, as he cannot see the basic logic that if you invest in a country based on advertised promises of residence, attracted by invitation of "trust", and then pull that rug from underneath them, causing the trust to disappear AND the physical reduction of tenants and residents in Dubai, it will have a negative effect on both real estate markets and economy, let alone border on outright fraud as most people had it in their contracts and the companies had written government confirmations. So he decided to punch a hole in it the only way he can, making a declaration without authority. Strange, considering that for the most part, a residence visa would be the call of the immigration department, something that RERA has no business with.
But then again, that never stops Woody from sticking his nose in things, does it?
Hahaha HAAA ha, hahahahahahahahahaha........
Posted by Dubai Warrior at 11:48 AM