Abu Dhabi rents are second-highest in the world

[Saif al-Arab]

The best option that we have is to buy a house, we then get the house on a 99yr lease,which means we wont need visa for 99 yrs(thats my understanding).

Believe it or not the trend is changing.
Most of the Indians now migrate to Western countries while a lot of westerners prefer UAE. That should be a reason why GCC has become a lot more liberal than it was previously.


London tops the list...just in case you missed it.

As I understand it foreign property buyers in Abu Dhabi, who had been restricted to leasehold agreements, can now buy freehold properties in designated investment zones.

Once KSA liberalizes (which I think is just a question of time) and the enormous potential for tourism etc. is fulfilled I can imagine that a similar law will become a reality in KSA.

The GCC has the potential to be the French Rivera of Asia or at least Western Asia on a bigger scale than it already is. A paradise for many more investors from nearby Europe, Africa and Asia if more countries followed UAE's model or even a more liberal model than the UAE.

The GCC is already a transportation hub (it arguably has the best location for aviation - evident of the very strong aviation sector in the GCC) and the GCC is still on many fronts the place to be when it comes to major projects, investments etc. It would be 100 times as sought after had the laws been more liberal. On many fronts those laws hinder further economic progress. Also GCC advancing towards a knowledge based society will also strengthen this development and create numerous jobs.

 

[waz]

Some interesting information in this thread @Saif al-Arab.

I'd love to buy a second home in Medina. I can only dream.

 

[Levina]

As I understand it foreign property buyers in Abu Dhabi, who had been restricted to leasehold agreements, can now buy freehold properties in designated investment zones.

Yes...thats true.

A paradise for many more investors from nearby Europe, Africa and Asia if more countries followed UAE's model or even a more liberal model than the UAE.

But the problem is 2nd wave of recession has already hit the region. Companies are already cutting down on costs and projects. I'm not sure if GCC will have the same charm 5 years later.

 

[Saif al-Arab]

Some interesting information in this thread @Saif al-Arab.

I'd love to buy a second home in Medina. I can only dream.

Unfortunately this is not a possibility unless reforms occur in KSA or the leaders wake up and realize that liberalization is necessary. They are shooting themselves in the foot to appease the usual suspects.

KSA and the GCC as a whole should adopt the Western European model. The welfare systems in place in the GCC are admirable but they are not foreseeable on this level on the long run without introducing taxation and liberalizing the economies, combating corruption and making it even more favorable for foreign investors and people who want to live in the GCC and contribute to it.

The Western leaders who are allied with the GCC should pressure the leaders much more than what is currently happening and push them to kickstart more reforms.

 

[Levina]

Unfortunately this is not a possibility unless reforms occur in KSA or the leaders wake up and realize that liberalization is necessary. They are shooting themselves in the foot to appease the usual suspects.

KSA and the GCC as a whole should adopt the Western European model. The welfare systems in place in the GCC are admirable but they are not foreseeable on this level on the long run without introducing taxation and liberalizing the economies, combating corruption and making it even more favorable for foreign investors and people who want to live in the GCC and contribute to it.

The Western leaders who are allied with the GCC should pressure the leaders much more than what is currently happening and push them to kickstart more reforms.

Have you quoted the wrong member/post by mistake?

 

[Saif al-Arab]

Yes...thats true.

But the problem is 2nd wave of recession has already hit the region. Companies are already cutting down on costs and projects. I'm not sure if GCC will have the same charm 5 years later.

I think that the GCC due to its very strategic location, it's economic size (2 trillion dollar GDP (nominal), opportunities at hand (which would become so much bigger if more reforms took place), still at large very unfulfilled potential, enormous natural resources, enormous potential for alternative energy, potential for even more tourists, religious sites, aviation sector, the current development towards knowledge based societies, currently non-existent taxation etc. is enough to keep its place as a very attractive region of the world.

Don't forget that the GCC is moving away from a oil/gas/other natural resources based economy. Despite currently low oil prices the economies and especially the non-oil sectors in the GCC are growing at a fast rate. What is now creating deficits in state budgets (low oil prices) might be a blessing on the long run.

I am very optimistic for the future when I see where the GCC is today despite all the areas that can be improved further.

Have you quoted the wrong member/post by mistake?

Yeah, I meant to quote @waz . It's corrected now.

 

[waz]

Unfortunately this is not a possibility unless reforms occur in KSA or the leaders wake up and realize that liberalization is necessary. They are shooting themselves in the foot to appease the usual suspects.

KSA and the GCC as a whole should adopt the Western European model. The welfare systems in place in the GCC are admirable but they are not foreseeable on this level on the long run without introducing taxation and liberalizing the economies, combating corruption and making it even more favorable for foreign investors and people who want to live in the GCC and contribute to it.

The Western leaders who are allied with the GCC should pressure the leaders much more than what is currently happening and push them to kickstart more reforms.

I agree they're not sustainable and reform is needed.

 

[Levina]

Don't forget that the GCC is moving away from a oil/gas/other natural resources based economy.

True.
I dont know about other GCC countries but UAE is definitely striving to be a tourist destination. But the hurdle is, the restrictions posed on tourists.

 

[Saif al-Arab]

@waz @levina

Hopefully things change for the better not only in the GCC but the entire Arab world. It's pains me to see a region like the Arab world that practically gave birth to civilization and was the most important region of the world for millenniums in this very sad state (by large). The most tragic thing is that the leaders are to be blamed for much of the trouble not that outside influences are without fault.

It annoys me that the West for instance does not pressure regimes in the GCC to improve on fronts that need to be improved.

It annoys me that there is now a consensus that Muslims can only be ruled by dictators/Monarchs/Mullah's/military dictators or fundamentalists/terrorists/call them what you want.

It's an evil spiral. I wish there were more leaders like Sheikh Zayed, King Faisal etc.

@levina

Check this excellent video out.

 

[Levina]

It annoys me that there is now a consensus that Muslims can only be ruled by dictators/Monarchs, Mullah's/military dictators or fundamentalists/terrorists/call them what you want.

If it was a democracy I would've said " people get the leaders they deserve".

I wish there were more leaders like Sheikh Zayed, King Faisal etc.

I like Sh.Mohammed bin Zayed(AUH) and Sh. Mohammed bin Rashid(DXB) too. I find them both to be very far-sighted and humble, Sh.MbZ Al Nahyan doesnt even crave for publicity.

 

[Saif al-Arab]

If it was a democracy I would've said " people get the leaders they deserve".


I like Sh.Mohammed bin Zayed(AUH) and Sh. Mohammed bin Rashid(DXB) too. I find them both to be very far-sighted and humble, Sh.MbZ Al Nahyan doesnt even crave for publicity.

I should not complain too much either as it could be many times worse and on many fronts the GCC leaders are doing a lot of good things. It's just that it's natural to always want further changes and progress to occur and for ills to be corrected especially as this is very much a possibility given that the GCC is not facing wars, famines, natural catastrophes etc.

Also as a student of history, a person of partial European descent who has relatives/family in quite a few European countries and who lives here, the reality is that democracy or at least a modified democratic system fitting to country x or y, does not come by itself or for free.

It took European centuries upon centuries, hundreds of bloody wars etc. to create what they have now. Let's not forget that just between WW1 and WW2 60 million Europeans died fighting against totalitarian systems (nazism and communism) and dictators.

What has the people in the GCC done/sacrificed to change the system? The reality is very little.

There are people like me who want to see more changes at a faster rate and then there are the more patient people who say that changes will occur naturally and that there is no need to push for changes quickly as this might create conflict. The last group seems to have become the majority after the "Arab Spring". For good and bad.

Personally I am in a favor of democracy (with respect for the local culture and traditions) and for the monarchies to become constitutional monarchies. If necessary (if people want to keep them) they can act as national symbols and unifying figures that transcend politics like seen in Western constitutional monarchies.

We are talking about a distant future though.

 

[razgriz19]

Pshhh..
Downtown Toronto apartment rent is where its at

 

[Josef K]

All the hotels that I've been to are expensive. (Damn a room for a night costed me Dhs 850/- in RAK).

Are you sure that was 4 star? Cuz I stayed in a 4 star one in Dubai during the last Eid vacations and it was under 400 per night. In fact every good hotel I checked was around 500 Dhs per night.

Chechi, I know you are filthy rich, but please don't cite the penthouse rates here. You are making me jealous

P.S: Btw, I booked in advance using Booking.com

 

[Levina]

Chechi, I know you are filthy rich, but please don't cite the penthouse rates here. You are making me jealous

Oh Chetan!
Don't you worry. If you're a professional with good work experience then Middle East is the place to be.

Are you sure that was 4 star? Cuz I stayed in a 4 star one in Dubai during the last Eid vacations and it was under 400 per night. In fact every good hotel I checked was around 500 Dhs per night.

It was a king suite of mangrove hotel, Ras-al-Khaimah.
Visit the hotel if possible.
Let me show you the king suite that i stayed in...i liked the interior.

The rainbow Restaurant.....

The Chinese restaurant in the hotel...(nothing except the soup is recommended from here).

P.S: Btw, I booked in advance using Booking.com

So did I Chetan.

 

[Josef K]

Oh Chetan!
Don't you worry. If you're a professional with good work experience then Middle East is the place to be.

That is exactly why I like it here Being in KSA means, I can save up a lot, and having an accomodating employer means, I get to schedule my vacations in many intervals making it easy for me to explore around rather than being stuck in the relatively boring KSA.

It was a king suite of mangrove hotel, Ras-al-Khaimah.
Visit the hotel if possible.
Let me show you the king suite that i stayed in...i liked the interior.

View attachment 261882

The rainbow Restaurant.....

View attachment 261883


The Chinese restaurant in the hotel...(nothing except the soup is recommended from here).
View attachment 261884



So did I Chetan.

This is really good Chechi. 850 Dhs well spent.