Monday, December 15, 2008

Dubai Fire Sale

I continue to receive spam from desperate Dubai real estate bag holders. Only thing I can figure is they see management in my title and that I've worked overseas trade shows. So I must be a moneybags dumb enough to sink my small nest egg into the most absurd real estate bubble in human history.
Subject: Choice of properties for users.... from us.
Date: Sun, 14 Dec 2008 01:20:56 +0400
Organization: (deleted) Relal(sic) Estate


Pick Properties on sale now at throw away price:

Yes, this is the time for end users to anchor. We help you find the best. We deliver them with merits.

1. Plots and warehouses at various locations.:
Land 30,000 to one million sq.ft. or larger and ware houses from 5000 to 200,000 sq.ft.

We arrange ware houses in Free Zones - JAFZA, SAIF, Ajman Free Zone, etc for immediate possession and functioning.

2. Factories and equipments.
Oil refinery, lubricants, paint, block Making, Plastic, Joinery,Enginering Unit, etc.

3. 4 star and 5 star hotels on rent or sale in free hold or non free hold areas.

4. Villas on sale or rent.

5. Apartments ready or getting ready.

6. Labour camps in DIP, Jabel Ali, Al Quoz and Sonapur. (Plots also available)

7. Full Buildings in Free hold and Lease hold areas.

Sincerely yours,

(see image for last name)

Sales Manager,

Real Estate Broker's card No. : (deleted)

(deleted) Real Estate Brokers,
Post Box (deleted), Dubai. UAE
Mobile : 050-(deleted)

An appeal to honorable owners of property:

We have ready clients looking for:
1.Full building in Discovery Garden V or U type at best price - buy
2.Full floor in International city for staff accommodation - any cluster with title deed - wants to buy.
3. Labour camp 200 rooms in Jabel Ali/DIP
4. G+50 Waterfront Plot
"Labour camp". Isn't that charming? Doesn't that sound like a swell investment? Maybe in Germany circa 1939. But it is almost 2009 and the semi-slave labor is returning to Pakistan and Bangladesh. You wealthy Hollywood schmucks who bought into the Dubai hype should be ashamed of yourselves and I hope you lose every last cent.

Dubai will be an outstanding archeological ruin in 50 years. Ghost buildings in Thailand crumble fairly rapidly thanks to the humidity. Dubai is bone-dry, so the buildings should appear to be better preserved for future archeologists who won't be born for another 20 years. The buildings will look good, but don't set foot in them!


Oilacct said...

A labor camp is a place for laborers to lice. This is common in the Middle East - the workers that build buildings, perform maintenance, etc, live in the labor camps. That keeps them out of the sight of the folks paying the bills.

Dubai can be very humid - close to 100% humidity during the summer. Buildings deteriorate much faster than you would think.

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