Wednesday, February 28, 2007

New meeting with EMAAR

We are trying to arrange another meeting with EMAAR in order to follow up the points raised at the last meeting. However, EMAAR's decision to sell the Lakes (despite previous denials made at the time the Greens sale was announced) has rather let the cat out of the bag. It is pretty clear now that EMAAR is extremely anxious to liquidate its rental assets with almost immediate effect.

7days - EMAAR at it again

Speculation on the 7days comments is clearly rife, but it is pretty clear that the manner and rapidity of this sale seems to verge on 'panic selling'. Few organizations would embark on such a hurried sale and attract the inevitable bad headlines that result without good reason. The fact that EMAAR would approach the Lakes sale in a similar way after the outcry over the manner of the Greens sale is quite telling. EMAAR, it appears, must sell everything and it must sell now regardless of public opposition, bad headlines or the apparent contradiction with the Dubai Government's stated aims of stabilizing rental prices.

When it comes to precise reasons, it's anyone's guess. Possibly best to avoid the world news if you don't want to scare yourself too much. But whatever it is, it's probably going to happen in March or April judging by EMAAR's short deadlines. By then, it might all make more sense.

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