Dubai Property Market about to head south?

[sdcycles]

Dear David

Davidletterman….. Hmmmm….
Sign you up for his hedge fund? That’s rich. No, really I’m impressed. At my friends last paid gig your minimum in would be ten million USD. With leverage he would then be playing you as his smallest client with 40 million USD. The leveraged money would belong to obscure banks like Honkers and Shankers etc. Now that minimum investment has dropped to about one million but my friend is currently retired whilst he figures out what to do with his family and life next. You must be on velly good dollah to buy into a hedge fund David! My friend is back in UK just now but I’ll PM you the necessary contacts ASAP. I thought your overtime went cost neutral. Oh well.

In fact you can now as a private investor get in on a fund of hedge funds with as little as 10 thousand USD. Might be worth looking at and I’m going to be with advice from my ‘Guru.’ I feel very lucky and privileged to have met him and can count him as a close personal friend.

My friend booked a half million GBP villa off plan from Savilles in London at launch a few years ago believing the hype and spin they had at the time. About 100,000 Brit’s have bought second homes here. Now he has spent some time on the ground here, and there is a 15 year construction plan for the crescent, he can’t wait to offload the thing. Plus he’s heard of all the stories as mentioned elsewhere of building quality etc,etc. Sadly, as you say and completely correct, no villa and little demand equals only 15% premium. He is absolutely certain the crash will come before this villa is finished but he is working on the premise that at key handover he will obtain a higher return than he would get if he sells, redirects the cash plus the 15%, minus transfer costs, into other areas of his portfolio of investments. No 50% now, or 200% later I am afraid.

Post divorce my finances are in a mess and he’s had a look to see what I can do to get myself ship shape. The review of the EK provident fund in particular was very depressing and I know this is off thread so I’ll be brief. He described it is a ‘widows and orphans’ fund. When I asked why the performance was so bad though, ( I’m 20k USD down even now), he said because no one gives a ****. It’s a zero risk setup in A plus B little better than, if not, an index tracker. The C fund is useful because of low switch fees but it is still unfocused as compared to his own personal investments which can be placeded directly, say, at China or India. For property later this year we are going on Safari into emerging Europe. It’s not really my place to defend my friend or say precisely what property he has apart from a non villa and non apartment in DXB, but suffice to say he’s got multiple properties in London ( Central London that is), Spain and Ex Eastern Europe.

Now Mr David, I know I made an incorrect assumption about the QR pay, TOC, and I apologise for that. I only post if I think I can contribute in such a way as to help people who are about to turn their whole lives up side down, spending money, changing schools etc, whilst being subject to a cat and mouse game run by a group of people using the business tactics of hunters, fisherman and farmers on both Western technology and the professionals needed to run it for them. So cut me some slack and for God’s sake get some more irony and wit in your posts like the show please.