- Hundreds of thousands of Apartments empty and landlords won't bring their rent down much.
- 85% of residents are in debt at an average of AED500,000 ( STG 86,000) even low paid workers. However, only 3% of Emeratis are in debt ( yeah right!).
- Emeratis who own new buildings don't have enough money to maintain them so cannot rent them out and yet won't drop the rents!
- 15,000 apartments in Abu Dhabi about to come onto the market, but they are not being maintained and there are no roads to them finished.
- Westerners are being arrested for things 2 years ago would not have been ever thought of.
- This week 3 Emerati's have been proven to have kicked a husband and 7 mth pregnant wife, because they wanted to have their seats at a restaurant and the Canadian couple were eating and refused. The Wife has permanent facial disfigurement.
- A new court for drugs ( which are banned here) has jailed a police officer for selling several kilos of the stuff.
- Dubai has announced they want to build an air conditioned skywalk for people to walk again. This is in a city that is bankrupt and cannot pay it's bills. So which idiot will build it?
- Sharjah doesn't have continuous electricity and has just raised it's electrical charges " for the sake of the people!"
Although events are not often happening they are increasing and with the Credit Crunch hitting the locals we can expect more episodes and comments about foreigners being in their country.
I think this is where the bubble bursts.
The government here needs to change attitudes and to start by at least halving rents to get buildings occupied and also to create a new business environment to attract businesses like a corporate tax break or something
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