Dubai's Construction

Hakuna mtu anayepinga kuwa Dubai ni matajiri sana ukilinganisha na sisi. Mimi ninachopinga ni hii tabia ya kuona maghorofa ni maendeleo! Hao walioyavumbua (ukiacha yale ya Yemen) waliisha yatilia mashaka hata kabla ya 9/11! hayo majengo ya World Trade Centre yalikuwa yanalaaniwa kwa kutokuwa user friendly hata kabla ya kulipuliwa. Sasa hivi maghorofa mengi ya ajabu yanajengwa katika bara la Asia kwa sababu huko bado wanaona ufahari. kupata kibali kujenga majengo kama haya ulaya si rahisi kwa sababu wanajua adha zake. Hutasikia hata siku moja Norway wanashindana kujenga jengo refu duniani na wala sidhani kama kuna skyscraper ya maana mjini Oslo. Na hawa ni matajiri kuliko hao waarabu! Kwa kifupi, majengo marefu yanapendeza kwenye picha na wala hayavutii kama sehemu ya kuishi. Mfano wa haraka ni hapa nyumbani. Mazingira ya kariakoo kabla ya kuigeuza mini Dubai na ya sasa ni tofauti kabisa. Miji ya Houston, Dallas, Los Angeles hata siku moja haihesabiwi kama miji bora ya kuishi marekani pamoja na maghorofa yao. Ujenzi wa busara kidogo wa maghorofa unaweza kuonekana Seattle, Vancouver na pengine New York.

Hilo la kuwa na gardens Dubai hata Phoenix, Arizona wana golf courses za ajabu. Lakini swali linaloulizwa kila siku ni je ni sustainable kufanya vitu hivi katikati ya jangwa? Ni matumizi bora ya hayo maji adimu kunywesha golf courses na parks?

Lakini, yote tisa, suala hili ni subjective. Kwa wale wanaoona maghorofa ni maendeleo watazidi kuona hivyo na kushangilia ubomoaji wa maeneo ya kati ya jiji la Dar es Salaam na Upanga ili angalau lifanane na Manhattan! wengine tunaamini kuwa Dubai,Abu Dhabi, Beijing, Khartoum,Shanghai na wengine kama hao wanafanya makosa makubwa kuvunja majengo yao ya kiasili na kujenga maghorofa ambayo kwa mtazamo wetu hayana sifa yeyote isipokuwa urefu. Tukubali kutofautiana.
 
Mafuta Yanalipa Mwana Usipime...na Ukishakuwa Mjanja Na Rasilimali Imemilikiwa Na Wafalme....lazima Kieleweke..atii Here Comes Wa Tz Na Maliasili Zetu...mrahaba 4% Mpo??twajengewe Vyoo Na Primary 3 Kwa Mwaka Kwenye Wilaya Zinazozunguka Mgodi Kweishaa Habari.........
 
SKILLS4EVER said:
Mafuta Yanalipa Mwana Usipime...na Ukishakuwa Mjanja Na Rasilimali Imemilikiwa Na Wafalme....lazima Kieleweke..atii Here Comes Wa Tz Na Maliasili Zetu...mrahaba 4% Mpo??twajengewe Vyoo Na Primary 3 Kwa Mwaka Kwenye Wilaya Zinazozunguka Mgodi Kweishaa Habari.........
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Kama nilivyosema, tukubaliane kutofautiana. Tunazungumzia vitu viwili tofauti!
 
Wachangiaji,
Kwanza niwashukuru wote kuanzia muanzishaji na wachangiaji. Katika hili swala nakubaliana na Fundimchundo ingawa naanza kuamini kuwa huyu ni MHANDISI mzuri wa au majengo au urban planing/architect aliye na mwanga mkubwa juu kubalance kati ya kutunza mazingira na maendeleo. Wengine wakiona MABOX ya alminium na vioo huona kweli TUNAENDELEA. Ila mhandisi yeyote huwa MPINZANI sana wa MABOX haya. Ukweli ni kuwa kwa watu wa KUJA au wasio na mwanga mkubwa basi MABOX ni Mazuri sana. Nakumbuka kubishana na wenzangu juu ya hili na tatizo ni kuwa mie pekee nilikuwa Fundi mchundo na kuwa na muono mwingine. Jamani SOMENI VIZURI maelezo ya Fundi Mchundo na mjaribu kuelewa hii POINT yake ya KUTUNZA MAZINGIRA ambayo nafikiri kaielezea vizuri sana na kwa mifano. Yaani tofauti anayotaka kuonyesha hapa ni kati ya gari kama HAMMER na MAYBACH. Hammer (Magorofa) na ukubwa wake ni BOX tu, linakunywa mafuta saana, halina nguvu, ukibondana na ka CLIO linakuwa nyanga nyanga ila linafanya watu wakikuona basi wanakupisha ila kwa watu wanaojua TASTE basi wanajua wee ingia kwenye MAYBACH.
Mwisho ni kuwa kama kweli Tanzania ni nchi ya kitalii basi kuleta Wazungu na kuwaonyesha ki-Dubai kidogo basi tunachemsha. Ila wakati mwingine Fundi Mchundo mwenzangu ni kuwa haya magorofa ya Alminium huwa nayapenda kwa sababu mbili kubwa kwamba :- Tuseme yapo Kariakoo basi kwanza kuyatunza ni rahisi kwani inatosha kupanda na ndoo mbili na sabuni na unayaosha na hivyo kuwa SAFII na hii kweli inafanya mji upendeze tofauti na jengo lililopakwa rangi, ambalo kusafisha ni kupaka rangi upya. Pili ukiwarundika watu wengi Kariakoo na asubuhi wakienda kazini Posta basi hata kwa mguu watafika na hapo unakuwa umesolve tatizo la USAFIRI. Jambo zuri ni kufanya kama hawa jamaa wa Scandinavia. Nafikiri NENO zuri kutumia hapa ni " Too much of anything is harmful" Ukiangalia hili GHOROFA refu duniani wanalojenga Dubai ambalo limeshavunja rekodi ya 550m na litakwenda hadi sijui zaidi ya 600m. unaanza kusema sasa kukitokea MOTO au TETEMEKO sijui itakuwaje. Jaribuni kuingalia DUBAI kwa juu kwa kutumia GOOGLE EARTH program. Haikunifurahisha sana ukiacha vile visiwa vitatu na lile li-7stars hotel.
 
Watu wanajenga bila mpango, I was reading somewhere -The Economist kati ya la wiki hii au jana if I am not mistaken- kwamba hakuna demand kwa haya maghorofa, kwamba yanajengwa tu -mengi kwa projections za economic hitmen most likely- na yatabaki near empty.
 
Dont worry Mr. Slave , Tanzania will soon reach to that halafu utaacha kushangaa majengo .... just advise them to check on Bush sept 11 ... they should keep away from creating enemity ... eeeh there are also natural calamities .. dont forget
 
natanguliza shukrani zangu


Nilikuwa natazama CNBC news over the weekend na walikuwa wana special segmentr on how the recession is slowly creeping in UAE lakini the most interesting part was...EMIRATES kununuliwa na ABUDHABI from Makhtoums kama sharti la collateral ya loan ambayo sheikh Mo anaitaka

Lakini more importantly ni kuwa couple of projects zimeanza kunose dive spectacularly kwani rumours are running wild that the Aldar Raha Beach development is to be largely mothballed for the foreseeable future, the only areas to carry on building will be around the F1 track and of course the Aldar Head Office building hivyo watu wa DXB mnaweza kutupa updates on this lakini i heard kuwa kutakuwa na Large scale redundancies to be announced today and tomorrow....
Dubai_night_skyline.jpg

jamani hii ndio sheikh zayed road usiku...
Kama kama hiyo haitoshi.... property market ndio iko kwenye free fall hivyo ma speculators hawana lao na in order to survive, the Dubai property market needs to become largely an end user one...there will eventually come a point (maybe in 15 years) when people will need to live in these things.....

There has also been:

Poor regulation of the property market allowing rampant speculation and causing huge unchecked price rises, almost nothing done to encourage end users. Everything done to encourage the 'hype' caused by flippers.

Too much development, not enough forward thinking, too much expenditure on marketing, perks for CEOs, massive internal corruption.

Local banks are not interbank lending to each other or lending for mortgages.

Zero credit regulation

Blatant and bare faced lying by company CEOs (no transparency), leading to rumour and speculation continued

A badly regulated exchange largely driven by insider trading


anyway kama kuna mtu ana alternative views then niko tayari kujadiliana naye
 
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Nakheel, wanadai kuwa hawatalaunch project yoyote anytime soon, wanafikiria kukata workforce yao kwa 15% ila CEO wao anasema wanafund za kutosha na wanamatch supply and demand. Lakini kwa upande mwingine angalia hizi story mbili hapo chini.

DUBAI, United Arab Emirates - Fitch is cutting its ratings on two companies tied to the Dubai government.

The credit rating firm says it made the downgrades Wednesday because of what it called the emirate's worsened economic outlook and the likely pressure this will put on the Gulf city-state's finances.

The downgrades affect Dubai Holding Commercial Operations Group, a holding company owned by Dubai's ruler, and state-owned utility Dubai Electricity and Water Authority.

Fitch cited poor transparency in cutting the ratings, though it acknowledges the benefit of continued government support for the companies.

Concerns have grown about Dubai's debt level in light of the world financial crisis.
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Habib Mostofi is one of thousands of Iranians who believed buying property in Dubai would be safer than Iran, isolated by the West over its disputed nuclear plans. But that was before the emirate's property bubble burst.

"I invested all my family savings in property in Dubai. I thought it was near Iran, politically safe and business- friendly," the 43-year-old businessman told Reuters. "How can I tell my family I was so wrong and lost the money?"

The economy of the United Arab Emirates, the world's fifth-largest oil exporter, has surged 50 percent in real terms since 2004, but the tide has turned as slumping oil prices and a global financial meltdown put an end to Dubai's property boom.

In recent years Iranians -- as well as others from Iraq, Pakistan, Somalia, Sudan and Lebanon -- have flocked to Dubai, the Gulf trading hub where construction cranes litter the skyline. For Iranians it was a haven from sanctions over the nuclear work the West says is to make bombs. Tehran denies this.

Many Western banks and export credit agencies have quit Iran and Iranian executives face increasing difficulty opening letters of credit, vital for trade, with an Iranian address.

Some opened Dubai offices to avoid that problem, while others just saw Dubai's property boom as a surefire earner.

At the height of the real estate bonanza, mortgages were easy and property could be sold for profit even before construction was finished -- a practice known as "flipping."

Reza Dabir-Alai, a businessman, 39, bought several apartments that together measured 1,541 square metersin Dubai.

"Substantial profits could be earned in a matter of days, sometimes even hours immediately after buying a property," Dabir-Alai said, adding after signing a deal for one apartment he was offered 2 percent more as he left the real estate agent.

PROJECTS ON HOLD

Then the financial crisis began lapping on the beaches of Dubai's many manmade islands. Rows of apartment blocks and exclusive villas have lost their value, as banks have reined in lending, casting a pall over corporate finance and construction.

"I cannot sell these apartments ... and I cannot cancel the contracts," said Dabir-Alai.

Shahnaz Mirsoufi, an Iranian real estate agent based in Dubai, said prices of villas and apartments in Dubai, on average, doubled since early January in 2007 but now some premier property prices have dropped as much as 50 percent.

"Even in the first quarter of the year, the price of villas and flats, many not yet built, rose by 43 percent," she said.

Analysts in a Reuters survey this month said Dubai property prices would fall 28 percent from a peak earlier this year.

Hamid Sardari, an Iranian businessman, said he was "penniless" and feared for his shipping company.

"My money that I need to run my business is stuck in Dubai property," he said. "I will be bankrupted soon."

Now some developers have put projects on hold after Dubai's real estate regulator urged developers to slow down, saying worsening financial conditions were driving up defaults.

FINANCIAL RUIN

Many foreigners were also attracted by a former promise that owning a property would secure them long-term Dubai residency rights. But Dubai's property regulator this year scrapped such a guarantee.

That spelt financial ruin for computer engineer Mohammad Reza Nouri: no visa, no job in Dubai and not enough salary from his Tehran work to pay off his UAE loan.

"My aim was to get a residence permit in Dubai. Now I cannot get the permit and I cannot pay the apartment's monthly installments," he said after investing $50,000 of his savings.

Concern about the speculation even prompted a public warning from Iran's ambassador to the United Arab Emirates in November.

"I call on Iranians to avoid buying properties in Dubai. For those who want to make profit or get a residence permit, none of those is possible," Hamid Reza Asefi told state radio.

Selling up is not always an option.

Mina Vakili, a divorcee, said she could not sell an 80 square meter apartment she bought off plan.

"I wanted to profit from my Dubai apartment to buy one in Tehran," she said. "But now, it is not clear when the project will even be finished."
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Nakumbuka wakati Wall Street meltdown imeanza watu wengi walikuwa wanasema nchi za Gulf ndio zinaweza kuiokoa US kutoka kwenye hili dimbwi la financial crisis lakini kumbe nao mambo si mazuri...soma chini

Dubai: About Dh29 billion has been wiped off the UAE's stock markets in two days of steep losses that left them at lows last seen more than four years ago.

And the coming days do not look good, say some analysts.

"Real estate and the banking sectors are facing a tough time with many [loan] defaulters. With the realty sector facing a major correction, the near term story for UAE market looks negative," said Shiv Prakash, equity investment analyst at Mac Sharaf Securities.

The real estate and banking sectors have been among the worst performers this year.

The slump in oil prices, which fell below $40 (Dh147) this week, is also likely to weaken region's economic growth, aggravating the already frayed sentiments of the investors.

At the close of business yesterday, the Dubai Financial Market General Index closed 3.91 per cent lower to 1,732.20. The benchmark has slumped about 71 per cent this year. Abu Dhabi Securities Exchange lost 2.88 per cent to end at 2,502.22.

Union Properties, which announced that it is seeking to sell bonds worth Dh2.5 billion to its "strategic investors", tumbled to its lowest in almost six years, closing at Dh0.87, down 8.42 per cent. The latest move illustrates that project financing is still difficult and liquidity shortages are far from over.

"It had no alternative but to go for bonds to mop up funds," said Prakash. "Banks are very cautious in lending and credit squeeze is still very much a problem. And I cannot say that there will be any price appreciation of Union Properties because of its latest move."

Shuaa Capital, the largest investment bank in the country, fell for the eighth day, plunging 9.65 per cent to end at Dh1.03. The bank sought approval of extending the maturity of their convertible bonds to next month.

Emaar Properties, the largest property developer in the region, dropped 4.94 per cent to Dh2.50. The stock has fallen about 15 per cent in the past three days. Arabtec, the largest construction company in the UAE, was the biggest loser, tumbling 100 per cent to Dh4.23.

In Abu Dhabi, Aldar Properties lost 8.08 per cent to Dh4.21. First Gulf Bank and Abu Dhabi Commercial Bank slid 9.25 per cent and 7.69 per cent to Dh8.24 and Dh1.80 respectively.
 
i take it the DXB bubble has b....

hiyo ya abudhabui kjutaka 51% ya EK kiboko...nasikia hata ile project ya DUBAIWORLD imesimamishwa
 
Game Theory said:
i take it the DXB bubble has b....

hiyo ya abudhabui kjutaka 51% ya EK kiboko...nasikia hata ile project ya DUBAIWORLD imesimamishwa
Click to expand...

Thanks for the posting GT.

Icadon,

unakumbuka ile posting yako kuhusu mafuta?..This is
what its adding up to.Jamaa walijisahau during the petroleum
boom na sasa mambo yamebadilika and these projects
have to be put on hold.

Waarabu wameumbuka!
 
some of these have already been mentioned but i think its worth putting them all together for the impact factor. Even I am amazed by how rapidly this is escalating into a full blown panic.

"Limitless reviewing projects, staffing levels"
http://www.arabianbusiness.com/53960...taffing-levels

"High-end property defaults on rise - RERA"
http://www.arabianbusiness.com/53990...on-rise---rera

"Nakheel puts hold on Trump tower"
http://www.arabianbusiness.com/53994...on-trump-tower

"Negative equity, defaults 'now a Dubai reality'"
http://www.arabianbusiness.com/53978...rives-in-dubai

"Direct gov't action called for to support property market"
http://www.arabianbusiness.com/53957...roperty-market

"Gov't backing to help Aldar, Sorouh weather storm"
http://www.arabianbusiness.com/53993...-weather-storm

"Nakheel cuts 500 jobs"
http://www.arabianbusiness.com/53990...ashes-500-jobs

"Launch parties take a hit amid real estate gloom"
http://www.arabianbusiness.com/53979...l-estate-gloom

"Damac shelves some overseas expansion plans"
http://www.arabianbusiness.com/53954...xpansion-plans

"Tameer axes half its workforce"
http://www.arabianbusiness.com/53937...-its-workforce

"Third of staff axed at Omniyat"
http://www.arabianbusiness.com/53931...estate-company

"Morgan Stanley cuts 15% of Dubai workforce"
http://www.arabianbusiness.com/53991...ubai-workforce

"DIFC seeking better terms for $350mn loan"
http://www.arabianbusiness.com/53948...for-350mn-loan

"Dubai auction raises less than quarter of $12mn estimate"
http://www.arabianbusiness.com/53948...-12mn-estimate

ukitazama kwa undani utaona kuwa all these stories in less than 1 week. Yup its all rosy here, nothing to see market has bottomed out etc etc

kinda wierd lakini ndio hivyo tena
 
GT,

soko kubwa la hawa mabwana ni marekani and with the trend
of things sidhani kama wamarekani watawa-sustain any longer.
Now that Obama and his new team are looking towards a "green
econmoy" and fuel alternatives, I don't see how these projects
are intending to be revamped....what becomes their next option?
 
Game Theory said:
i take it the DXB bubble has b....

hiyo ya abudhabui kjutaka 51% ya EK kiboko...nasikia hata ile project ya DUBAIWORLD imesimamishwa
Click to expand...

Naona Abu Dhabi hawataki kuinject hela zao bure bure wanataka something in return kwa mujibu wa hii habari....

ABU DHABI has demanded control of Emirates, Dubai’s flagship airline, as the price of a multi-billion pound cash injection for the Gulf kingdom.

The fast-growing airline, long the envy of neighbouring Arab states, has emerged in recent days as the centrepiece of negotiations over a financial bail-out for cash-strapped Dubai.

The emirate, which is ruled by the Al Maktoum family, has been hit hard by the credit crunch. Its property market, in which many of the big players are state-owned or backed, has enjoyed explosive growth over the last decade but prices are now tumbling, leaving heavily indebted developers badly exposed.

Government sources in Dubai confirmed last week that talks had begun with Abu Dhabi, which has huge oil and gas reserves, about funding. Rather than ploughing cash into the Dubai state, Abu Dhabi has offered to invest in its neighbour’s strategic assets.

The Sunday Times has learnt that Abu Dhabi is eyeing a stake in Emirates, along with investments in other industries, such as the state water company.

The airline alone is estimated to be worth about £10 billion and selling a stake in it could generate enough cash to prop up much of Dubai’s economy.

The proposal is controversial, however, as the airline is regarded as the embodiment of Dubai’s rapid rise to international prominence and an important symbol of the emirate’s identity. It is owned by the Dubai government, which is reluctant to relinquish control.

Although other Gulf states are thought to be monitoring the situation, Abu Dhabi is believed to be keen to offer Dubai a deal that keeps the airline within the United Arab Emirates.

Transport bankers say Abu Dhabi may plan to pursue Emirates’ nascent plans for a float on the Dubai Stock Exchange. The airline’s management, and Sheikh Ahmed bin Saeed Al Maktoum, chairman and chief executive of Emirates Group, recently hinted the government would consider a listing, with 25%-30% of the airline’s equity sold. Last year the group had net profits of £690m.

Airlines have long been a contentious issue in the United Arab Emirates, a confederation of Gulf states that includes Abu Dhabi and Dubai. In the 1970s the two states, along with Oman and Bahrain, took strategic stakes in Gulf Air, intending to turn it into a national carrier for the region.

By 1985, however, Dubai had decided to set up a rival and created Emirates, backing a largely expatriate management led by Briton Maurice Flanagan.

Emirates has been a success story of international aviation, turning Dubai into one of the largest hubs, and in the process helping the government fulfil its ambition of growing tourism and financial services. Abu Dhabi followed Dubai’s example, setting up its own national carrier, Etihad, in July 2003.
Click to expand...
 
Ab-Titchaz said:
Thanks for the posting GT.

Icadon,

unakumbuka ile posting yako kuhusu mafuta?..This is
what its adding up to.Jamaa walijisahau during the petroleum
boom na sasa mambo yamebadilika and these projects
have to be put on hold.

Waarabu wameumbuka!
Click to expand...

Unajua few days ago nilikuwa nasoma kuwa Dubai wanataka kupursue maswala ya Nuclear and walikuwa kwenye talks na US plus naona wamenunua missiles za $ 3.3 Billion total package yao inaworth $ 9 billion.

Mwakani Oman, Bahrain, Saudi Arabia na Dubai watakuwa na deficits kutokana na kuanguka kwa bei ya mafuta, lakini kwa upande mwingine wanazo za kujidai maana kati ya 2002-2008 bei ya mafuta ilikuwa inapanda so natumaini walizikusanya sana, ila tatizo la ndugu zetu hawa especially Saudi Arabia mapato yao mengi yanakwenda kwenye ununuzi wa silaha na hii issue ya Iran imezofanya nchi nyingi za Gulf zianze kuwekeza kwenye air defense system.

Ab-Tichaz, naona wazungu hawataki tena kuwa dependent wa mafuta ndio maana wanatafuta alternatives nyingine so in the next 5 years mambo yatakuwa si mambo hapo middle east watatuuzia mafuta akina sie na sisi tutanunua kwa kukopa.

Nimquote character moja ya kwenye kitabu cha Tom Clancy "Their Economy is in the shitter".
 
Hivi ndiyo kusema nchi yeyote ikitakata kutumia nuclear energy kama chanzo cha nishati ni mpaka USA ihusishwe kwanza?Ili aamue kutoa ruhusa ya kutumia hiyo nishati/Dubai hapa walikuwa wanataka hii teknolojia kutoka USA?!
Ni wazo zuri kuwa na alternatives katika masuala ya msingi hasa ya kiuchumi;nikiwa na maana kwamba unaandaa plan"A" halafu unakuwa na plan "B".
 
Ni kweli shughuli ipo...Obama alisema ata invest kwenye clean alternative energy kwasababu ya bei ya mafuta ya mwarabu...Sasa mwarabu na yeye naona anashusha bei ya mafuta kwa kasi ya ajabu kiasi kwamba kuna baadhi ya watu wanaona kuwa gharama za alternative energy ni kubwa sana kipindi hiki so wanadhani ni bora kuendelea na mafuta ya mwarabu kwasasa na hili ni kutokana na credit crunch pamoja na jitihada za kuikombowa automotive industry....Imekuwa vigumu kidogo kutafuta balance hapo na pia demand ya ma SUV bado ni kubwa miongoni mwa wamarekan wenye kibri licha ya ukweli kwamba ukata umewakumba wengi wao na mabenki hayatoi mikopo ya magari kwa wingi kama before.

Wamarekani wanapenda magari makubwa ambayo yanakunywa mafuta mengi...Mjapan na yeye ametangaza hasara kwenye Toyota Prius ambazo walidhani zingenunuliwa kwa wingi kwani ni magari yasiyotumia mafuta...Kwa hiyo hata Obama na yeye inabidi awe makini kwani mwarabu bado naweza kushusha bei ya mafuta na bado akapata faida...Sasa hapo wanategana...Ila Obama angekuwa smart angeendelea na mpango huo wa green energy kwasababu manufaa yake ni makubwa in a long run.
Tusubiri tuone.
 
Ab-Titchaz said:
GT,

soko kubwa la hawa mabwana ni marekani and with the trend
of things sidhani kama wamarekani watawa-sustain any longer.
Now that Obama and his new team are looking towards a "green
econmoy" and fuel alternatives, I don't see how these projects
are intending to be revamped....what becomes their next option?
Click to expand...

Dubai's Real Estate/Construction development goes hand in hand with Environmental pollution/degradation. It is said to be the next environmental polluter, after China.

Dubai investors have been very keen on putting up flashy, high rise buildings that have little, or no environmental considerations. I guess the next step is for the developers to go back to the drawing boards and propose some environmentally-friendly options that will most likely re-ignite interests from big investors.
 
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