Weekend Real Estate

Well, its the weekend here in the UAE and I am having an exciting night in in front of the laptop... a work report to write and emails to answer... it doesnt seem to let up at the moment.  My project is chronically understaffed and we're on a massive recruitment drive but it takes time to get people on board.  I am having meetings at work and suddenly there's a new face.  "Hi, I am so and so, been here 3 days, my role is blah blah and I have come all the way from Country X".  Its amazing really... and I am enjoying working with Brits, Lebanese, Arabs and even the odd Kiwi.  I heard one of the new senior managers looking after Facilities Management for completed buildings is an Aussie who starts some time in the next fortnight or so... its all very exciting.  So seriously, to all my friends and family who read this blog... if you have something to offer drop me an email!

This weekend is also exciting because on Saturday I am looking at potential houses... or villas as they're called here.  I sat down this morning and perused the classifieds and was able to line up to inspect 5 properties on Saturday in just 45mins.  10am, 11am, Midday (two properties) and 1:30pm... 5 properties, 4 different agents all in the one day.  The financial crisis has turned Dubai into a cheap land grab and those of us lucky enough to be working in secure companies are taking advantage.

To quote numbers, when we looked at moving here, annual rents for a 3-4 bedroom villa were around 330,000 - 350,000 Dirhams per annum.  On Saturday I am looking at 5 bedroom villas listed between 230,000 and 260,000 Dhs per annum.  A massive drop in just 3 months!

So, yes the financial crisis is taking hold, but I also heard that 35,000 jobs were lost in Australia last month... so I think to be working for a company that is hiring I am very blessed and not only that the job is excellent!