A ghost town called Dubai is in the making at a frantic speed!

[Windjammer]

Left Bank at Madinat Jumeirah to close

Long-standing Dubai bar to close on the same day as The Agency.

By Scott Campbell
20 June 2018

Just this week we brought you the sad news that Souk Madinat Jumeirah favourite The Agency is closing its doors.

Now another of the complex's bars – Left Bank – is shutting down on the same day.

Both of the venues close for the final time on Saturday June 30, but it's not all bad news.
Left Bank has slashed prices on beverages for the next two weeks, with all drinks costing between Dhs25 and Dhs35.

The offer is valid while stocks last, and it's a great chance to take in those great terrace views of the Madinat waterways while you still can.

Meanwhile, as we've already reported, The Agency is cranking open its premium cellars with bubbly and cheese offers available on Wednesday June 20 through until Friday 22.

A ghost town called Dubai is in the making at a frantic speed!

Emirates Towers most restaurants have shut!

Souk al Bahar most restaurants and stores have shut!

Bur Juman and Wafi mall are DEAD!

Al Ghurair, Arabian Center and Sunset mall are mostly dead!

Lamcy Plaza caught fire in Mar 17 and was to open in Aug 17 but shut till now!

Gold souk in Deira and Bur Dubai stores are empty for the first time in 40 plus years!

Karama people can find parking for the first time since 2000 with majority stores shut.

New Gold Souk and Gold souks of Festival city and Dubai mall have all closed stores.

Hotels like Savoy Crest, Panorama, Jormand, Ramada, Richmond have all shut!

Now the latest ghost area is Madinat Jumeirah where the owner of Pacha club ran away in 2016 which remains shut.

Now the iconic Left Bank and Agency bars since 15 years are shutting!

Neighbouring Jumeirah beach hotel is shut for “repairs” while 360 degree bar and all restaurants shut!

Dubai Miracle Garden and Dubai Safari Park are shut too. Bollywood Park could shut any day.

Abraaj & UBL have just fired hundreds last week. Grant Thornton could go bust.

With thousands of students leaving this month onwards from schools and Etisalat connections shut for 30,000 in Apr 18, Dubai’s evolution to a ghost city is nearing completion by Sept 2018!

And yeah property is selling for 500 dirhams per square ft instead of 2,500 dirhams a few years ago!

http://www.timeoutdubai.com/bars/news/84208-left-bank-at-madinat-jumeirah-to-close

 

[Umair Nawaz]

why is that so?

 

[Windjammer]

why is that so?

Reportedly the real state is collapsing.
Personally i discovered once famous Dubai Duty Free is just a con now.

 

[Umair Nawaz]

Reportedly the real state is collapsing.
Personally i discovered once famous Dubai Duty Free is just a con now.

does this has a connection with the black money/properties of Pakistanis there?? money laundering to be exact??

 

[Rusty]

Real estate in the gulf is such a massive scam. The prices are for a world class cities like london or New York but quality is of a 3rd world country. 5 year old building there is old and ready to be demolished.

Anyone who buys property in the gulf is a fool and should just send that money to me, it will be a better investment.

 

[Windjammer]

does this has a connection with the black money/properties of Pakistanis there?? money laundering to be exact??

I doubt that's the case, i think it's mostly to do with high rents and extravagant prices of goods.
Dubai was meant to be millionaires playground but gradually the attraction has faded since everything is virtually created with nothing natural like say, Bali, Thailand or Florida.

 

[Tokhme khar]

Don't buy any property in Dubai. Same goes for Doha. These are all speculative markets.

Thousands of Iranians and many other nationalities got defrauded when the Financial crisis back in 2009 caused a total bust in these GCC countries. Apartments purchased for $500,000 in the boom era still won't fetch $250,000, on the best of days. Don't be fooled guys. These countries are all fraud, heavily involved in money laundering and so are all these property speculative scams.

Between Dubai and Abu-dhabi, literally hundreds of 40-50 story luxury buildings are all empty for decades now! No buyers.

 

[Trango Towers]

Ended up in Dubai after my tour of the far East and arrived in Islamabad last Thursdays the 21st June.
I stayed at swissbell hotel in sharjah. Rolla is a run down area of sharjah but was thriving with the Indian Pakistani and Bengali community.
Now I saw shop after shop shut. People who have been in Dubai 25 plus years leaving.
Swissbell hotel has approx 100 rooms give or take and aside from me on 10 rooms were occupied by Indian airline crew. Dubai has introduced a 5% vat and wages are suppressed. Just yesterday a friend got fined 420 dirhams for Jay walking. Crazy laws that no one knows. Personally I got stopped for crossing a small side street and as I spoke English with an English accent and told them I was a tourist and which hotel I stayed at they let me go.
Dubai is fucked. High rents low tourists....it's called rip off Dubai for a reason. And if a tiny fire cracker went off in Dubai mall the whole place would empty. Surprised no one has done it considering UAE is punching above their weight. I mean Yemen Qatar Palestine Libya and a few other have beef with UAE.

 

[user1]

Paradise built upon slave labour. This was bound to happen. You will reap what you have sown. Karma is a ....

 

[Tokhme khar]

People who are either corrupt or have millions to hide, these type of people invest in the GCC. Very dodgy place. Even the western firms operating there are shady. You want to bring in a few millions into Dubai........no problem, and no questions asked on how you got that money.

Some of the sleaziest global crooks call this GCC home. Lots of eastern european bad eggs there now too. Many mafia's operating. These places swarming with slave labor and dodgy characters.

Buyers beware!

 

[Rusty]

In normal countries the government tax the rich and spend on the poor. In Dubai they tax the poor and give it to their rich citizens.

 

[HAIDER]

Don't buy any property in Dubai. Same goes for Doha. These are all speculative markets.

Thousands of Iranians and many other nationalities got defrauded when the Financial crisis back in 2009 caused a total bust in these GCC countries. Apartments purchased for $500,000 in the boom era still won't fetch $250,000, on the best of days. Don't be fooled guys. These countries are all fraud, heavily involved in money laundering and so are all these property speculative scams.

Between Dubai and Abu-dhabi, literally hundreds of 40-50 story luxury buildings are all empty for decades now! No buyers.

One of my friend booked two apartments few years ago and paid upfront fee around 3500 dollars . Now he is getting letter every month asking to take possession and pay the remaining . He lost the interest and lost the money.
Plus, I think new money laundering laws world wide and world wide campaign against terror financing.

 

[Tokhme khar]

If you guys have money, no better place to invest than London........hands down!

 

[Desert Fox]

I guess this is what happens when you use slave labor and interest based loans to build artificial cities full of bars, nightclubs and gambling venues.

And this will be the fate of all modern cities. Modernity is an illusion.

@Psychic @Nilgiri @dsr478 @Metanoia

 

[Tokhme khar]

Exactly! I would lose interest too when the apartment purchased for half a million 10 years ago, won't fetch half that today! Its beyond belief how badly the oil bust and global uncertainty has affected Dubai and these other cities over there. Tens of thousands of innocent people have lost billions!

One of my friend booked two apartments few years ago and paid upfront fee around 3500 dollars . Now he is getting letter every month asking to take possession and pay the remaining . Now he lost the interest and lost the money.