There are many Nahkeel purchasers who have paid deposits for property in the Jumeirah Village project – and to date no progress has been made – nor given recent events is it likely that much progress will be made any time soon – these are the sort of cases that should be guaranteed by the government – given that the Dubai Government is the major shareholder in Nahkeel’s parent company
The Dubai government will not bail out foreign investors. This has been stated. Dubai has been built with the intention of attracting foreign capital in the short term.
Foreign investors are just regarded as cows to milk. Should there be someone to be sacrificed, it will be the infidel.
The non respect of foreigners is blatant and this crisis will make it even clearer to the world.
Abu Dhabi, the new owner of the new Dubai, will reject responsibility of this screwing of foreigners on the old Dubai.
The new Dubai will start with a clean slate and unfinished projects. Unfinished projects will be auctioned to locals for nothing and the recovery rate on disposed assets will yield nothing to existing investors.
Unfinished projects will be relaunched at very attractive prices and a new wave of suckers will be find.
So is the Dubai World, a world where rules are changed to benefit a few.
from Best Chandeliers And Home Lighting in Dubai, UAE – Homenoon https://www.homenoon.com/property-in-dubai/owners-of-angelica-residence-celestia-by-syndicate/
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