UAE collect DNA from all Residents – DNA database set to start in a year

source The National

The UAE aims to start collecting genetic samples from residents within 12 months as part of its controversial DNA database project, the programme’s director said yesterday, making it the first country in the world to do so.

Dr Ahmed al Marzooqi, the director of the National DNA Database, also said the order for millions of people to allow lab technicians to collect samples of their DNA by swabbing their cheeks would probably be given as a security directive and not require the passage of new legislation.

“The first step is to set up the infrastructure and hire the lab technicians,” he said in an interview with The National.

“This should take us approximately one year.”

Then, he said, the UAE would start collecting DNA samples from the general public, beginning with juveniles.

“The aim is to eventually have a profile of the entire population,” said Dr Marzooqi, who is also the chairman of the DNA Working Group, made up of various police forces across the Emirates.

“Our goal is to sample one million per year, which could take as long as 10 years if you factor in the population growth.”

Some officials have suggested that the DNA programme may require new legislation, which would then need to be considered by the Federal National Council.

But Dr al Marzooqi said this might not be the case.

“We are not sure if this will go through the Federal National Council or not,” he said. “It could simply be decided as a security matter and not need the legislation of the FNC.”

The legislative route seems increasingly remote given that a new government department, the National DNA Database, has already been formed within the Ministry of Interior and collection kits ordered to help the police gather genetic material.

At present, only 5,000 DNA profiles are stored, all of convicted felons.

The notion of collecting DNA samples from non-criminals has raised ethical concerns about privacy protection.

In Britain, for example, such use of DNA was contested last year in the European Court of Human Rights, which ruled that Britain must purge non-criminal genetic material from its database.

The UAE has not accepted the jurisdiction of any such body.

Even attempting such a database – in which DNA is gathered from the entire population, even those who have never gone through the legal system – is basically unheard of, said Sir Alec Jeffreys, the British genetics pioneer who invented the DNA profiling system.

He expressed concern over the lack of legislation required for a national database.

“It will be interesting to see how this develops,” he said.

“How this works out will really set the scene for how other countries approach this problem. If it’s seen as a great success which the population and citizenry fully endorse, I think it will open the way for a lot of other countries going down this route.

“If it turns into a disaster for whatever reason, that will be the end of the story. You are the interesting experiment at this point.”

Dr al Marzooqi, who is also Interpol’s single Middle Eastern representative in its DNA Monitoring Expert Group, said he was aware of the project’s challenges.

“We are certain the pros will outweigh the cons,” he said. “The issue of privacy is just as important for us as it is important for the public. We will implement strict usage rules and will take secondary tests in court cases to verify the identity matches.”

Other nations could use information from the UAE’s data bank, but not access the material, he said. Treaties and other international agreements would dictate the specifics.

“If there is co-operation with the country seeking the DNA profile, we share this information through Interpol – only the DNA profile, and obviously not the sample,” he said.

Because each country may have its own database of DNA profiles, Dr al Marzooqi said, databases would not be merged with those of any other country.

“Not every country who asks will be given this information,” he said.

The database, he added, would be “instrumental in helping with unsolved crimes, identifying unknown bodies and will also be a great help in major disasters, either man-made or natural”.

Laid-Off Foreigners Flee as Dubai Spirals Down – Mass of abandoned cars in Dubai. One report said 3,000 cars were sitting abandoned at the Dubai Airport.

 One report said 3,000 cars were sitting abandoned at the Dubai Airport.

http://www.nytimes.com/2009/02/12/world/middleeast/12dubai.html?_r=2

NewYork Times February 2009

 Sofia, a 34-year-old Frenchwoman, moved here a year ago to take a job in advertising, so confident about Dubai’s fast-growing economy that she bought an apartment for almost $300,000 with a 15-year mortgage.

Now, like many of the foreign workers who make up 90 percent of the population here, she has been laid off and faces the prospect of being forced to leave this Persian Gulf city — or worse.

“I’m really scared of what could happen, because I bought property here,” said Sofia, who asked that her last name be withheld because she is still hunting for a new job. “If I can’t pay it off, I was told I could end up in debtors’ prison.”

With Dubai’s economy in free fall, newspapers have reported that more than 3,000 cars sit abandoned in the parking lot at the Dubai Airport, left by fleeing, debt-ridden foreigners (who could in fact be imprisoned if they failed to pay their bills). Some are said to have maxed-out credit cards inside and notes of apology taped to the windshield.

The government says the real number is much lower. But the stories contain at least a grain of truth: jobless people here lose their work visas and then must leave the country within a month. That in turn reduces spending, creates housing vacancies and lowers real estate prices, in a downward spiral that has left parts of Dubai — once hailed as the economic superpower of the Middle East — looking like a ghost town.

No one knows how bad things have become, though it is clear that tens of thousands have left, real estate prices have crashed and scores of Dubai’s major construction projects have been suspended or canceled. But with the government unwilling to provide data, rumors are bound to flourish, damaging confidence and further undermining the economy.

Instead of moving toward greater transparency, the emirates seem to be moving in the other direction. A new draft media law would make it a crime to damage the country’s reputation or economy, punishable by fines of up to 1 million dirhams (about $272,000). Some say it is already having a chilling effect on reporting about the crisis.

Last month, local newspapers reported that Dubai was canceling 1,500 work visas every day, citing unnamed government officials. Asked about the number, Humaid bin Dimas, a spokesman for Dubai’s Labor Ministry, said he would not confirm or deny it and refused to comment further. Some say the true figure is much higher.

“At the moment there is a readiness to believe the worst,” said Simon Williams, HSBC bank’s chief economist in Dubai. “And the limits on data make it difficult to counter the rumors.”

Some things are clear: real estate prices, which rose dramatically during Dubai’s six-year boom, have dropped 30 percent or more over the past two or three months in some parts of the city. Last week, Moody’s Investor’s Service announced that it might downgrade its ratings on six of Dubai’s most prominent state-owned companies, citing a deterioration in the economic outlook. So many used luxury cars are for sale , they are sometimes sold for 40 percent less than the asking price two months ago, car dealers say. Dubai’s roads, usually thick with traffic at this time of year, are now mostly clear.

Some analysts say the crisis is likely to have long-lasting effects on the seven-member emirates federation, where Dubai has long played rebellious younger brother to oil-rich and more conservative Abu Dhabi. Dubai officials, swallowing their pride, have made clear that they would be open to a bailout, but so far Abu Dhabi has offered assistance only to its own banks.

“Why is Abu Dhabi allowing its neighbor to have its international reputation trashed, when it could bail out Dubai’s banks and restore confidence?” said Christopher M. Davidson, who predicted the current crisis in “Dubai: The Vulnerability of Success,” a book published last year. “Perhaps the plan is to centralize the U.A.E.” under Abu Dhabi’s control, he mused, in a move that would sharply curtail Dubai’s independence and perhaps change its signature freewheeling style.

For many foreigners, Dubai had seemed at first to be a refuge, relatively insulated from the panic that began hitting the rest of the world last autumn. The Persian Gulf is cushioned by vast oil and gas wealth, and some who lost jobs in New York and London began applying here.

But Dubai, unlike Abu Dhabi or nearby Qatar and Saudi Arabia, does not have its own oil, and had built its reputation on real estate, finance and tourism. Now, many expatriates here talk about Dubai as though it were a con game all along. Lurid rumors spread quickly: the Palm Jumeira, an artificial island that is one of this city’s trademark developments, is said to be sinking, and when you turn the faucets in the hotels built atop it, only cockroaches come out.

“Is it going to get better? They tell you that, but I don’t know what to believe anymore,” said Sofia, who still hopes to find a job before her time runs out. “People are really panicking quickly.”

Hamza Thiab, a 27-year-old Iraqi who moved here from Baghdad in 2005, lost his job with an engineering firm six weeks ago. He has until the end of February to find a job, or he must leave. “I’ve been looking for a new job for three months, and I’ve only had two interviews,” he said. “Before, you used to open up the papers here and see dozens of jobs. The minimum for a civil engineer with four years’ experience used to be 15,000 dirhams a month. Now, the maximum you’ll get is 8,000,” or about $2,000.

Mr. Thiab was sitting in a Costa Coffee Shop in the Ibn Battuta mall, where most of the customers seemed to be single men sitting alone, dolefully drinking coffee at midday. If he fails to find a job, he will have to go to Jordan, where he has family members — Iraq is still too dangerous, he says — though the situation is no better there. Before that, he will have to borrow money from his father to pay off the more than $12,000 he still owes on a bank loan for his Honda Civic. Iraqi friends bought fancier cars and are now, with no job, struggling to sell them.

“Before, so many of us were living a good life here,” Mr. Thiab said. “Now we cannot pay our loans. We are all just sleeping, smoking, drinking coffee and having headaches because of the situation.”

Kippreport – Arrested development

Kippreport » Cover Story The Work marketing » Arrested development

October 9, 2008

The branding fallout of Dubai’s anti-corruption drive has, unfortunately, been coupled with the lack of proper crisis management, says experts.

Summer is usually a quiet time for business news in the Middle East. Offices empty as employees look to escape the heat and it becomes even harder than usual to schedule a meeting. Slow-news days turn into slow-news weeks.

That wasn’t the case in Dubai this summer, however. Almost every week of the last few months has brought fresh revelations of high-level executives – particularly in the finance and real-estate markets – being arrested or questioned by authorities as part of Dubai government’s crackdown on corrupt business practices.

A former CEO of Deyaar Development (along with other staff members), a senior executive at Nakheel, an Etisalat employee, a former vice-president of Dubai Islamic Bank, two former executives of Tamweel (working for Istithmar World at the time they were questioned), the CEO of the Lagoons project, and four Sama Dubai execs have all made the headlines of regional – and international – media since April. And all for the wrong reasons.

Dubai must continue to deliver on its promise of zero tolerance. “The next couple of months are going to be crucial,” he says. “It’s going to be very interesting to watch.”

READ More:

http://www.kippreport.com/kipp/2008/10/09/arrested-development/

Dubai property on red alert

Dubai property on red alert: “Dubai property on red alert”

The Dubai government likes to use the annual Cityscape real estate exhibition to build confidence in the emirate and build interest in its property market. Massive schemes are announced and ever-more ambitious plans are hatched.

But this year’s exhibition has come amid falling local stock markets – Saudi Arabia fell 10 per cent on Monday – and growing concerns that the international financial crisis will bring about a correction to what is widely viewed as a frothy market.

True to form, NakheelNakheel, which is owned by the government of Dubai, at the weekend launched a Dh140bn ($38bn) project to build the world’s tallest tower and inland harbour. On Monday another government company, Meraas Development, said it would redevelop a swath of the city over 12 years in a Dh350bn project to be called Jumeira Gardens. The intention is that this scheme too should include another of the world’s tallest towers and reclaimed islands off the coast.

“Dubai has always reinvented itself and maintained growth,” Sina al Kazim, chief executive of Meraas, said.

Whereas in years gone by retail investors have tried to gain access to what is supposed to be a business to business event, this year the organisers had no trouble in keeping the public out.

One locally-based real estate broker admitted that there was “a good deal of nervousness” among exhibitors as to whether Dubai’s growth story of the past six years was coming to an end.

Dubai is the most exposed of the local economies because its local real estate market is supported by foreign investment and because, as an emirate, it has little in the way of natural resources. A home-grown credit squeeze caused by excess lending and insufficient deposit taking has added to the disquiet.

On Monday, as the real estate announcements came, property stocks led falls in the UAE’s two main stock markets. EmaarEmaar, Dubai’s main developer, fell 10.7 per cent, while TamweelTamweel, a mortgage lender that is to be merged with AmlakAmlak, was down 10.5 per cent. In Abu Dhabi, AldarAldar, the emirate’s leading developer, fell more than 9 per cent.

One banker described the situation as “belated panic”.

Credit default spreads on Dubai debt, especially real estate linked borrowing, have ballooned as institutions bet that the pace of growth in the property market will not be maintained.

But Dubai developers sought to assuage concerns.

Mr Kazim said he had a positive reaction in initial talks with local institutions about funding his development, which has caused controversy as it is forcing out local families and expatriate labourers from villas in Satwa and Jumeirah, some of the most established parts of the fast changing city.

Dubai Properties, a developer owned by Sheikh Mohammed bin Rashid Al Maktoum, the Dubai ruler, also said publicly that its credit lines were secure. Jade al Khalil, marketing manager, said he believed confidence in the Dubai market could be sustained.

TamweelTamweel, the troubled Islamic mortgage lender that has been at the centre of corruption investigations, which have done so much to harm Dubai’s reputation, said that it was joining other lenders in raising the deposit that investors must put down in order to secure financing.

Analysts said that the government linked property developers are fundamentally sound and will be backed by state funds if they get into trouble. They added that UAE authorities could intervene if they felt the market was in danger of crashing.

Some economists predicted a controlled slowing down rather than a sharp correction, which would be healthy given the steep increase in prices this year, as well as speculative trading.

“I don’t think it’s going to jeopardise or derail the economy,” Marios Maratheftis, head of research at Standard Chartered, said.

“I think we could have a couple of years of slow growth, a couple of years of underperforming markets as well, but I don’t think it will derail what will happen here in the future,” he said. “Having a mild correction will probably be beneficial for the economy and if the market is going to price in some risk in the decision making, especially in real estate, that will be beneficial.”

Others, however, were anticipating a sharper correction and greater consolidation in the real estatesector.

“I think that some kind of sharp correction has to happen because of the way prices have gone up and the fact that global credit conditions are very tight. The big issue is how fast the recovery comes,” said another banker, who asked not to be named. “The stock markets are a barometer of the real estate market – it’s telling you investors are very concerned right now.”

He said that there would have to be consolidation because “some of the more aggressive developers don’t have the cash flow to build what they have sold”.

Another banker said real estate companies in the UAE have been seeking advice from banks about potential merger and acquisitions.

By Simeon Kerr in Dubai and Andrew England in Abu Dhabi

© Copyright The Financial Times Ltd 2008. Privacy policy.

Consolidation on the cards – Real Estate – ArabianBusiness.com

Consolidation on the cards – Real Estate – ArabianBusiness.com: “Consolidation on the cards”

Thursday, 09 October 2008 by Andrew White
original published Arabina Business

There was an air of unreality at last week’s Cityscape event. No change there, you might think — we have long got used to the fantastical models of contorted towers, billion-dollar figures tossed around like confetti, and outlandish announcements in which every project is declared ‘unique’ and ‘iconic’.

Yet while everybody was busy looking at the sky, craning their necks upward to the tip of Nakheel’s new mega-tower, the markets on which the Gulf’s economic foundations are set were dropping through the floor.

Over the course of a week intended to celebrate the strength of the Gulf real estate market and reassure investors spooked by the collapse of housing markets in the US and Europe, hundreds of millions of dollars was instead wiped off the market capitalisations of the region’s property players.

By the end of trading on Wednesday, shares in Emaar, the Middle East’s largest real estate company by market capitalisation, had dropped 29 percent so far that week, and 63 percent year-to-date.

In Saudi Arabia, Dar Al Arkan Real Estate was down 23 percent that week and 50 percent year-to-date, while Qatar’s Ezdan Real Estate finished down 56 percent from its early May high.

The Gulf’s five biggest publicly-traded real estate firms were down an average of 40 percent in 2008, and Cityscape week — the supposed highlight of the Gulf real estate calendar — ended up as one of the bloodiest on record.

It was reported last week that some of the scale models used at shows such as Cityscape cost real estate clients as much at $272,000 a pop.
As the markets continued to tank, the suspicion dawned that some of those scale models might actually represent a better long term investment than the towers they are meant to symbolise.

Looking forward, we may be on the cusp of a new wave of consolidation in the Gulf property market. In any other region, the Gulf’s real estate giants would be prime targets for a takeover, yet the Gulf’s strict foreign ownership rules eliminate that possibility.

Rumours of a merger between two of the UAE’s largest real estate developers surfaced last Monday and have not died away despite noncommittal shrugs from the two parties. And nor will they as long as the Gulf’s real estate titans continue to shed weight so dramatically.

In these uncertain times, investors are looking for a clear sign that such a critical sector is able to adapt to the shifting global economic climate. Even Gulf developers will be unable to reach for the sky, without first planting their feet firmly on the ground.

Andrew White is the deputy editor of Arabian Business English.

Bacteria Fears Force Part of Jumeirah Beach Closure

Khaleejtimes , October 7, 2008

read more here:

http://www.khaleejtimes.com/DisplayArticle08.asp?xfile=/data/theuae/2008/October/theuae_October152.xml&section=theuae

and Gulf News
http://archive.gulfnews.com/opinion/editorial_opinion/nation/10247978.html

Interest rate cuts too late for regional markets – The National Newspaper

Interest rate cuts too late for regional markets – The National Newspaper

Andrew Foxwell

Last Updated: October 08. 2008 7:17PM UAE / GMT Six central banks around the world – including the US Federal Reserve, The European Central Bank, and the Bank of England – cut interest rates by half a percentage point today in a bid to halt sliding stock markets. China’s Central Bank followed suit, cutting its rate by 27 basis points. The other central banks to act were Sweden’s, Switzerland’s and Canada’s.

Shares rallied on the news, although the move came too late to save Gulf markets, which were closed prior to the cuts, with the Dubai Financial Market down 8.43 per cent and the Abu Dhabi Securities Exchange down 6.43 per cent. The Saudi Tadawul lost 6.12 per cent today, while Kuwait was down 1.41 per cent, Doha down 8.75 per cent, Muscat down 7.21 per cent and Nahrain falling 2.70 per cent.

The move has had a positive effect on other stock markets, however, with the British, French and German markets all recovering after their large earlier losses.

The Central Bank of the UAE will cut interest rates in line with the Fed’s decision because the dirham is pegged to the dollar, leaving the rate in both countries at 1.5 per cent.

Despite the move, one economist in the country said the move will have little effect, calling it an “aspirin and not a panacea” when much more radical action is needed.

afoxwell@thenational.ae

Banks cut mortgage lending limit by up to 25% – Banking & Finance – ArabianBusiness.com

Banks cut mortgage lending limit by up to 25% – Banking & Finance – ArabianBusiness.com

by Amy Glass , Arabian Business, October, 08, 2008

UAE banks and home finance firms have cut their loan to value ratios by as much as 25 percent as the global credit crunch continues to tighten its grip on regional markets.

Tamweel and Amlak, the biggest Islamic mortgage lenders in the UAE, have both dropped their loan to value ratio in the last two weeks. Tamweel has lowered its maximum amount from 90 to 75 percent while rival Amlak has dropped its loan to value ratio from 90 to 65 percent.

“The base case has always been between 70-80 percent and anything in the 90 percent range was on a promotional basis, we have now stopped the promotion,” Nabil Alwan, head of marketing & product development at Tamweel told Arabian Business.

The deepening global credit crisis has forced governments to bail out banks as liquidity dries up. Last week the US approved a $700bn plan to prop up its financial institutions while the UK today announced that its own banks would get an $87bn lifeline. Last month the UAE central bank pumped $13.6bn into the UAE banking system in a bid to ease the impact of the liquidity crunch.

Lenders are lowering mortgage rates as credit tightens and home price growth slows.

In September HSBC Middle East lowered its loan to value ratio from 80 to 70 percent. Lloyds TSB, which currently lends a maximum of 80 percent against villas and 70 percent against apartments, is also expected to lower its rates next week, according to one of its mortgage advisors.

Emirates NBD, the Gulf’s largest lender by assets, on Wednesday announced it would offer fewer large loans and long-term repayment schemes in a campaign to encourage responsible lending after the global credit crunch.

“Large loan amounts and long repayment periods that can place a considerable strain on the borrower will be minimized through this process,” the bank said in a statement on its website.

Interest rate cuts too late for regional markets – The National Newspaper

Interest rate cuts too late for regional markets – The National Newspaper

Andrew Foxwell

Last Updated: October 08. 2008 7:17PM UAE / GMT Six central banks around the world – including the US Federal Reserve, The European Central Bank, and the Bank of England – cut interest rates by half a percentage point today in a bid to halt sliding stock markets. China’s Central Bank followed suit, cutting its rate by 27 basis points. The other central banks to act were Sweden’s, Switzerland’s and Canada’s.

Shares rallied on the news, although the move came too late to save Gulf markets, which were closed prior to the cuts, with the Dubai Financial Market down 8.43 per cent and the Abu Dhabi Securities Exchange down 6.43 per cent. The Saudi Tadawul lost 6.12 per cent today, while Kuwait was down 1.41 per cent, Doha down 8.75 per cent, Muscat down 7.21 per cent and Nahrain falling 2.70 per cent.

The move has had a positive effect on other stock markets, however, with the British, French and German markets all recovering after their large earlier losses.

The Central Bank of the UAE will cut interest rates in line with the Fed’s decision because the dirham is pegged to the dollar, leaving the rate in both countries at 1.5 per cent.

Despite the move, one economist in the country said the move will have little effect, calling it an “aspirin and not a panacea” when much more radical action is needed.

afoxwell@thenational.ae

Banks cut mortgage lending limit by up to 25% – Banking & Finance – ArabianBusiness.com

Banks cut mortgage lending limit by up to 25% – Banking & Finance – ArabianBusiness.com

by Amy Glass , Arabian Business, October, 08, 2008

UAE banks and home finance firms have cut their loan to value ratios by as much as 25 percent as the global credit crunch continues to tighten its grip on regional markets.

Tamweel and Amlak, the biggest Islamic mortgage lenders in the UAE, have both dropped their loan to value ratio in the last two weeks. Tamweel has lowered its maximum amount from 90 to 75 percent while rival Amlak has dropped its loan to value ratio from 90 to 65 percent.

“The base case has always been between 70-80 percent and anything in the 90 percent range was on a promotional basis, we have now stopped the promotion,” Nabil Alwan, head of marketing & product development at Tamweel told Arabian Business.

The deepening global credit crisis has forced governments to bail out banks as liquidity dries up. Last week the US approved a $700bn plan to prop up its financial institutions while the UK today announced that its own banks would get an $87bn lifeline. Last month the UAE central bank pumped $13.6bn into the UAE banking system in a bid to ease the impact of the liquidity crunch.

Lenders are lowering mortgage rates as credit tightens and home price growth slows.

In September HSBC Middle East lowered its loan to value ratio from 80 to 70 percent. Lloyds TSB, which currently lends a maximum of 80 percent against villas and 70 percent against apartments, is also expected to lower its rates next week, according to one of its mortgage advisors.

Emirates NBD, the Gulf’s largest lender by assets, on Wednesday announced it would offer fewer large loans and long-term repayment schemes in a campaign to encourage responsible lending after the global credit crunch.

“Large loan amounts and long repayment periods that can place a considerable strain on the borrower will be minimized through this process,” the bank said in a statement on its website.

Gulf bourses tumble on global concerns – Financial Markets – ArabianBusiness.com

Gulf bourses tumble on global concerns – Financial Markets – ArabianBusiness.com

Dubai Sunday, 5th october 2008

Gulf Arab bourses fell on Sunday as investors rushed to sell stocks after a $700 billion US rescue plan failed to ease qualms over global financial turmoil.

Many foreign investors also fled stock markets in the world’s top oil exporting region as global worries over the health of the world economy escalated.”Retail investors are panicking because of what is happening in global markets. The rescue plan failed to comfort investors as they believe it will take a couple of months for its effects to be felt,” said Adel Nasr, broker at United Securities brokerage.

Real estate stocks led the drop in the United Arab Emirates, with Emaar Properties posting its sharpest one-day decline in at least two years and Aldar Properties and Sorouh Real Estate both falling more than 9 percent.

News of a proposed merger between Dubai-based Islamic mortgage lenders Tamweel and Amlak Finance pushed the shares of the rival firms lower as investors awaited more clarity on the move. “One view is the merger [talks] between Tamweel and Amlak is negative becuase it is not clear why they are doing it now, especially when we have mortgage problems globally and there is a liquidity problem in the UAE and banking sector,” said Sherif Abdelkhalek, institutions accounts manager at Beltone Financial.Banks led Kuwait’s and Qatar’s benchmark to their biggest single-day drop in three weeks.”

The $700 billion move has resolved the issue only for the short term and for the US.

It has done nothing for the rest of the world,” said Mohamed Yasin, managing director of Shuaa Securities.”

The problem we’re facing today is not an equity problem but a liquidity problem across the banking system around the world and the Gulf Arab region is part of that… the money pumped into the system is not enough.

“Saudi Arabia’s market was closed for a holiday.

Gulf bourses tumble on global concerns – Financial Markets – ArabianBusiness.com

Gulf bourses tumble on global concerns – Financial Markets – ArabianBusiness.com

Dubai Sunday, 5th october 2008

Gulf Arab bourses fell on Sunday as investors rushed to sell stocks after a $700 billion US rescue plan failed to ease qualms over global financial turmoil.

Many foreign investors also fled stock markets in the world’s top oil exporting region as global worries over the health of the world economy escalated.”Retail investors are panicking because of what is happening in global markets. The rescue plan failed to comfort investors as they believe it will take a couple of months for its effects to be felt,” said Adel Nasr, broker at United Securities brokerage.

Real estate stocks led the drop in the United Arab Emirates, with Emaar Properties posting its sharpest one-day decline in at least two years and Aldar Properties and Sorouh Real Estate both falling more than 9 percent.

News of a proposed merger between Dubai-based Islamic mortgage lenders Tamweel and Amlak Finance pushed the shares of the rival firms lower as investors awaited more clarity on the move. “One view is the merger [talks] between Tamweel and Amlak is negative becuase it is not clear why they are doing it now, especially when we have mortgage problems globally and there is a liquidity problem in the UAE and banking sector,” said Sherif Abdelkhalek, institutions accounts manager at Beltone Financial.Banks led Kuwait’s and Qatar’s benchmark to their biggest single-day drop in three weeks.”

The $700 billion move has resolved the issue only for the short term and for the US.

It has done nothing for the rest of the world,” said Mohamed Yasin, managing director of Shuaa Securities.”

The problem we’re facing today is not an equity problem but a liquidity problem across the banking system around the world and the Gulf Arab region is part of that… the money pumped into the system is not enough.

“Saudi Arabia’s market was closed for a holiday.

Emiratis fear being swamped by expats – survey – Culture & Society – ArabianBusiness.com

Emiratis fear being swamped by expats – survey – Culture & Society – ArabianBusiness.com

byJames Exelby on Sunday, 05 October 2008

UAE Nationals say the fast-growing expatriate population is the greatest threat to national identity, while expatriates cite rampant consumerism, according to a survey published on Sunday.

The survey found that 60 percent of Emirati Nationals questioned felt a sense of isolation as their cultural identity became increasingly diluted by the influx of large numbers of expatriates, the UAE daily The National reported.

This compared with 71 per cent of western expatriates who felt that the biggest threat to Emirati culture and identity was the country’s “highly materialistic and consumerist society“.

Despite these concerns, however, 81 percent of the 628 respondents – Emirati and expatriate – said they “belonged in the UAE” with more than half saying that the country’s safety record was the main attraction, the survey conducted by the market-research company YouGov Siraj found.

Most of those surveyed agreed that a sense of national identity could be developed by creating a “consolidated vision across the emirates that all citizens and residents can relate to equally” and by communicating traditional values, the paper said.High rents, traffic and inflation emerged as the three main gripes with life in the UAE.

Traffic was considered the biggest problem in Sharjah, where 56 percent of those surveyed said it reduced the quality of their lives, it added.The survey found that Nationals were the most likely group to say the UAE is a good place to raise a family.
A fifth of all Asians questioned cited discrimination as a key complaint, the paper added.
Most Western and Asian expatriates said their inability to speak Arabic had not been a hindrance in their career, it said.

70% ‘are being priced out of Dubai property market’

70% ‘are being priced out of Dubai property market’

by Soren Billing Tuesday, 30 September 2008

A correction in Dubai’s real estate market could be exacerbated by a mismatch between demand and supply, with the bulk of demand being for more affordable properties than the ones that are coming on stream.

“Currently the supply is geared more towards the high end segment in an environment where prices have appreciated rapidly, so it’s like a double whammy,” Shuaa Capital real estate analyst Roy Cherry said.“

Seventy percent of Dubai’s population has been priced out and there are very few products that do target the low and mid income segment, which is effectively where the bulk of demand is.”

The city will continue to offer opportunities for developers who are able to target those income brackets.“
Not everyone in Dubai can afford a four million dirham property,” he said.Shuaa Capital is forecasting a correction in Dubai property prices, beginning in 2009 and continuing into 2010.Cherry distinguishes between the Dubai and Abu Dhabi market, with the former being “more complicated” due to the mismatch in supply and demand and project delays that have helped inflate prices.Abu Dhabi is currently a more predictable play: demand is soaring and is likely to outstrip supply over the next three to four years, although negative sentiment in Dubai could have a contagion effect.

Both markets have seen a lot of speculative activity in recent years, but with less supply coming on stream, the impact of a correction will be smaller in the capital.The emirate is also making significant investments in affordable housing.

The Abu Dhabi government has recently granted Aldar over 10 million square metres of land for low income housing projects.“I think overall the Abu Dhabi market is a healthy market…and I think Abu Dhabi companies will continue to do well. Not only because of the excess demand, but also because companies like Aldar Properties are already initiating work on low income housing projects with government encouragement,” Cherry said.

Flats’ rents likely to rise as sharing of villas vetoed – The National Newspaper

Flats’ rents likely to rise as sharing of villas vetoed – The National Newspaper

The cost of renting flats in Dubai and its neighbouring emirates is expected to rise following the decision to evict families sharing villas, estate agents predicted yesterday.Thousands of affluent families living in shared villas in Jumeirah, Umm Suqeim, Al Rashidiya and Abu Hail are now looking to move to flats after the Dubai Municipality announced that only one family could live in each villa.

The authority announced a 30-day deadline, ending next month, for the extra families to move out.“The rental prices of apartments are rising day by day, but the news from the municipality will definitely push them up [further],” said Wassim Tarik Malik, an agent working with Wateredge Real Estate in Dubai.

“Pushing the rental price up will also push the property value up, and this can be seen from the last couple of months.”Agents said that two months ago, a one-bedroom flat in the Dubai Marina area was renting for an average of Dh120,000 (US$32,600) a year.

Today, it is nearly impossible to find one for less than Dh140,000. “These prices will keep increasing on a daily basis now,” Mr Malik said.Bassam Abu Diwan, an estate agent with Al Masah, confirmed that a large number of clients he had seen in the past few weeks looking to rent flats were being forced to leave their villas.

“A lot of residents from The Springs and Mirdiff areas are asking specifically because of this reason,” he said. “Moving to a villa is no longer an option.”Farhan Zia, an agent with Exelet Real Estate, said: “The situation is shocking because the prices are going up by the day.”According to Mr Zia, the rise in rental prices coupled with the exodus from shared villas is having the knock-on effect of making life very hard for single people in Dubai. Estate agents are forbidden to rent villas to single people, he said, which means they can live only in flats.

“What is also difficult is that apartment landlords are asking for yearly cheques in advance, but people are now being forced to comply because there is no other alternative,” he said. “This is definitely a landlord’s market.”People living in villas in The Springs, Meadows, Arabian Ranches and Al Barsha are also being forced to move to pricier neighbourhoods such as Dubai Marina and Jumeirah Beach Residence.
“It is now impossible to find a two-bed apartment in JBR for less than Dh200,000 a year,” said Mr Zia.The municipality launched the villa eviction campaign in July, slapping notices on villas in Al Rashidiya area.

This week, a 30-day final deadline was announced for all villas in Dubai. “No more notices would be issued to villas. Even those families who are sharing villas but have not received notices must move out within the deadline,” a spokesman for the municipality said. He added that once the deadline expired, violators would have their water and electricity supplies cut off, and landlords would face heavy fines – up to Dh50,000.

Charles Thornton, who shares a villa in Umm Suqeim, is unsure of what to do. “I am really scared. I do not want to move to Jumeirah Beach Residence or Dubai Marina because it’s just too expensive,” he said. “
We have started looking but it is all out of our price range, and the prices seem to be increasing too rapidly. Our villa is nice and spacious, and a lot of the apartments are much smaller and you will be paying so much more.“

What happens if they turn around and decide to throw people out of apartments for sharing?” he said.

The municipality confirmed the new rules apply only to villas, and not to people sharing flats.

Some families have already had their electricity supplies cut off. “We lived in darkness for weeks but have not managed to find another home,” said a resident of a villa in Abu Hail. He said he shared the large traditional villa with nine other families until inspectors served them notice last month. “Many have moved out but families with children have stayed because they have to think about the school transport.
Unable to bear the heat, we have moved to a hotel room,” he said.

Families are now appealing for more time to move out of their villas, and also asking for alternative accommodation. Some families living in villas also claim that they have paid several months rent in advance to their landlords, who are refusing to return the money.
However, the municipality has insisted there will be no further extensions of the deadline.

It said what people do to find alternative accommodation is not its concern.

A spokesman for the municipality added: “Families who have formal contracts with landlords can approach the rent committee and make a complaint.

However, nothing can be done for those without contracts.”

nsamaha@thenational.ae
mailto:nsamaha@thenational.aepmenon@thenational.ae

Gulfnews: Jumeirah beaches must be sewage free

Gulfnews: Jumeirah beaches must be sewage free

Gulf NewsPublished: September 26, 2008, 23:32

The tankers which clean out thousands of cess pits around Dubai are supposed to take the sewage to be treated in the city’s sewage plants in Awir and Jebel Ali.
But the vast queues of tankers at these inadequate plants force the drivers to wait for many hours.

As a result they chose to dump the sewage in the road system’s storm drains.

This then oozes out through the drainage system (which is only supposed to handle sudden rain water) and emerges into the sea.

As a result, raw sewage is washing up on beaches in Jumeirah and beyond.

It is a serious danger to people’s health, with germs having already been detected in the water used by thousands of people innocently enjoying the magnificent beaches of Dubai’s coast.

Blocking the drains is not the answer.

Stopping the dumping is imperative, particularly as the tourist season is about to start.

Gulfnews: No more frustration over project delays

Gulfnews: No more frustration over project delays:

By Suzanne Fenton, Staff ReporterPublished: September 24, 2008, 23:39
Dubai:

Investors in Dubai’s property sector will no longer have to bear with frustrating project delays, thanks to new laws that hold developers accountable.

The introduction of Law 13 and Law 14 aims to increase transparency and honesty in Dubai’s property sector, according to senior officials at Dubai’s Land department.
“After registration and approval, all the property information is entered into the system. We will know all details about the projects. There is no reason for delays,” said Mohammad Sultan Thani, Assistant Director-General of the Land Department, during a media roundtable yesterday.

Law 13 requires all developers to pre-register off-plan properties with the land department to create a full database of property transactions.

Law 14, or the mortgage law, makes it easier for banks to secure proof of land titles.

Both laws came into effect last week.

“Law 13 is very good for the market,” said Marwan Bin Galita, CEO of the Real Estate Regulatory Authority (Rera).

The main objective of Law 13 is to ensure developers register all projects before they launch sales.
“No one can release a project unless all the approvals are in place,” Bin Galita said. Under this law, approval must be sought from about five specified government bodies, including the RTA, Dewa, Dubai Municipality, Rera and the Land Department.

Sultan Butti Bin Mejrin, Director-General of the Land Department, said action will be taken against developers violating the law.

Currently, some developers demand a deposit on the unit before a sales and purchase agreement is given. Law 13 states that as soon as the deposit is paid, the sales and purchase agreement should be given immediately.

The new law also stipulates an acceptable increase in the floorplan of a unit. On completion, if the floorplan is smaller than originally agreed, the buyer is entitled to compensation.

Under Law 8, developers have six months from registration to start construction on a project. And developers are not allowed to cancel a project without first informing the Land department.
In line with efforts to increase transparency, the property court is set to begin operations in the first week of October.

Bin Mejrin estimated that 96 cases have been solved with mediation in the Land Department so far.
“The biggest challenge is collecting the data. The other challenge is the behaviour of the investor,” Bin Galita said, referring to those investors who still do transactions with unregistered developers.
Bin Galita also said that the new rent cap will be completed and announced by the end of October.
All three officials said the global financial credit crunch, negative market reports or the recent wave of investigations in Dubai will not damage the market in any way.

“I still have confidence in this market,” Bin Galita said.

Around Dh200 billion worth of transactions have been registered so far within the Land department.
Real estate

Black and white

Registered developers 826
Registered projects 1,624
Registered brokers 4,154
Certified brokers 1,300
Registered broker offices 1,772
Authorised banks 34
Registered contracts 2,176

How to buy

1) Decide what property to buy

.2) Check it is a registered developer, with an approved project

.3) Check trust account is in place.

4) If you want an agent, check that the agent is registered.

Gulfnews: No more frustration over project delays

Gulfnews: No more frustration over project delays:

By Suzanne Fenton, Staff ReporterPublished: September 24, 2008, 23:39
Dubai:

Investors in Dubai’s property sector will no longer have to bear with frustrating project delays, thanks to new laws that hold developers accountable.

The introduction of Law 13 and Law 14 aims to increase transparency and honesty in Dubai’s property sector, according to senior officials at Dubai’s Land department.
“After registration and approval, all the property information is entered into the system. We will know all details about the projects. There is no reason for delays,” said Mohammad Sultan Thani, Assistant Director-General of the Land Department, during a media roundtable yesterday.

Law 13 requires all developers to pre-register off-plan properties with the land department to create a full database of property transactions.

Law 14, or the mortgage law, makes it easier for banks to secure proof of land titles.

Both laws came into effect last week.

“Law 13 is very good for the market,” said Marwan Bin Galita, CEO of the Real Estate Regulatory Authority (Rera).

The main objective of Law 13 is to ensure developers register all projects before they launch sales.
“No one can release a project unless all the approvals are in place,” Bin Galita said. Under this law, approval must be sought from about five specified government bodies, including the RTA, Dewa, Dubai Municipality, Rera and the Land Department.

Sultan Butti Bin Mejrin, Director-General of the Land Department, said action will be taken against developers violating the law.

Currently, some developers demand a deposit on the unit before a sales and purchase agreement is given. Law 13 states that as soon as the deposit is paid, the sales and purchase agreement should be given immediately.

The new law also stipulates an acceptable increase in the floorplan of a unit. On completion, if the floorplan is smaller than originally agreed, the buyer is entitled to compensation.

Under Law 8, developers have six months from registration to start construction on a project. And developers are not allowed to cancel a project without first informing the Land department.
In line with efforts to increase transparency, the property court is set to begin operations in the first week of October.

Bin Mejrin estimated that 96 cases have been solved with mediation in the Land Department so far.
“The biggest challenge is collecting the data. The other challenge is the behaviour of the investor,” Bin Galita said, referring to those investors who still do transactions with unregistered developers.
Bin Galita also said that the new rent cap will be completed and announced by the end of October.
All three officials said the global financial credit crunch, negative market reports or the recent wave of investigations in Dubai will not damage the market in any way.

“I still have confidence in this market,” Bin Galita said.

Around Dh200 billion worth of transactions have been registered so far within the Land department.
Real estate

Black and white

Registered developers 826
Registered projects 1,624
Registered brokers 4,154
Certified brokers 1,300
Registered broker offices 1,772
Authorised banks 34
Registered contracts 2,176

How to buy

1) Decide what property to buy

.2) Check it is a registered developer, with an approved project

.3) Check trust account is in place.

4) If you want an agent, check that the agent is registered.

Tide of filth costs Dubai Offshore Sailing Club its licence – The National Newspaper

original published http://www.thenational.ae/

Tide of filth costs club its licence – The National Newspaper:

DUBAI

Dubai’s internationally renowned sailing club has lost its licence to teach and had its latest regatta spoiled after illegally dumped sewage flooded its private harbour.

The Dubai Offshore Sailing Club lost its Royal Yachting Association (RYA) accreditation yesterday after effluent dumped into a storm drain nearby flowed into the waters around the club, leaving a stench. Keith Mutch, the club’s manager, said the dumping ruined the opening regatta of the season on Friday and threatened the reputation of the club.

There were more than 200 people here and I got complaints all day about the stench,” he said. “It smelt of raw sewage. In the middle of the afternoon it flowed out of the storm water drain at the bottom of the pier.“The water had a big dark brown slick of water in it that smelt very bad.” The waste has also now washed onto a nearby public beach and the water has made several people sick. They have complained of skin rashes, ear infections and diarrhoea.

One member who used to swim here all the time has stopped because he has got several ear infections from the contaminated water,” said Mr Mutch.The problem has blighted the coast for three months but has dramatically increased this week, said Mr Mutch. “It pours in every day. We do not know where it originating from but it is seriously affecting the club and its members.” One of the members, who did not wish to be named, said: “It is only a matter of time before people get cholera or typhoid from the water. I can’t risk my daughter getting anything like that. People using the beach next to the club have no idea.”

Those on the public beach were equally upset. “I have just taken a swim,” said Claudia Kemfert from Germany. “I never expected to see something like raw sewage in the water. The quality of the beaches has deteriorated since I got here two years ago but this is horrible.” Ahmed Rashid decided against bathing with his seven-year-old son. “I don’t believe it,” he said, peering at the dark brown slick. “I am not going to get into the water. Imagine what my son could catch.” He then left.
Abdul Majeed, director of Dubai Municipality’s drainage and irrigation network, said he was ordering more spot checks to catch the dumpers, but the effort was being hampered by the complexity of the problem.Around 7,000 manholes feed into Dubai’s storm drainage system, with water exiting from four points along the coastline. Haulers dump their load into the system to avoid waiting in long lines at the city’s sewage treatment facilities.

“We try to catch them but they do it at 3am or 4am – we do not have full teams to cover night shifts,” Mr Majeed said.The Dubai Offshore Sailing Club has more than 600 members, with more than 200 on the waiting list.Independent tests on the pollution have been carried out by the club and the results are now in the hands of the municipality. The club says it hopes to replace polluted sand that has turned a dark brown. It must also send clean water samples to the RYA’s headquarters in the UK before it regains its certificate to teach.

However, Mr Mutch said the efforts could prove fruitless: “It’s a catch-22 situation for us. I want to replace the sand now but we do not know when the sewage will be stopped.”

eharnan@thenational.ae

Istithmar suspends two executives – The National Newspaper

Istithmar suspends two executives – The National Newspaper:

Tom Ashby
Last Updated: September 14. 2008 3:09PM UAE / September 14. 2008 11:09AM GMT

Istithmar World, the investment company owned by the Dubai Government through Dubai World, has suspended two of its most senior executives who have been arrested as part of a corruption inquiry by the Dubai authorities.“In light of the ongoing investigations of Adel al Shirawi and Feras Kalthoum in relation to activities during their previous positions at another company, Istithmar World confirms that Adel al Shirawi has been suspended from the position of vice chairman of Istithmar World and Feras Kalthoum has been suspended from the position of chief financial officer of Istithmar World,” the company said.

It added that Mr Shirawi was no longer a member of the board of directors.Both of the Istithmar executives formerly held positions in Tamweel, whose deputy chief executive, Abdullah Nasser Abdullah, was detained last week. Mr Shirawi is the former chief executive of Tamweel and Mr Kalthoum was Tamweel’s former head of finance.

The Dubai Government has acknowledged that it is involved in wide-ranging attempts to eliminate corruption in the property and banking sectors to shore up investor confidence. Seven senior businessmen, including one chief executive, have been arrested since the investigation began in March, but no one has yet been charged.
tashby@thenational.ae

Istithmar suspends two executives – The National Newspaper

Istithmar suspends two executives – The National Newspaper:

Tom Ashby
Last Updated: September 14. 2008 3:09PM UAE / September 14. 2008 11:09AM GMT

Istithmar World, the investment company owned by the Dubai Government through Dubai World, has suspended two of its most senior executives who have been arrested as part of a corruption inquiry by the Dubai authorities.“In light of the ongoing investigations of Adel al Shirawi and Feras Kalthoum in relation to activities during their previous positions at another company, Istithmar World confirms that Adel al Shirawi has been suspended from the position of vice chairman of Istithmar World and Feras Kalthoum has been suspended from the position of chief financial officer of Istithmar World,” the company said.

It added that Mr Shirawi was no longer a member of the board of directors.Both of the Istithmar executives formerly held positions in Tamweel, whose deputy chief executive, Abdullah Nasser Abdullah, was detained last week. Mr Shirawi is the former chief executive of Tamweel and Mr Kalthoum was Tamweel’s former head of finance.

The Dubai Government has acknowledged that it is involved in wide-ranging attempts to eliminate corruption in the property and banking sectors to shore up investor confidence. Seven senior businessmen, including one chief executive, have been arrested since the investigation began in March, but no one has yet been charged.
tashby@thenational.ae

‘Marry me for $50m or you’re dead’

original published:

zawya

http://www.zawya.com/story.cfm/sidZAWYA20080908091342

08 September 2008

The husband of a pop diva found stabbed to death claims London police failed to act

The husband of a murdered pop diva has spoken for the first time of how she feared she would be killed by a professional hitman, allegedly hired by her former lover.

Riyadh Alazzawi has told The Sunday Times that police in London were warned of the threats to his wife, Suzanne Tamim, but failed to act. The couple spent 18 months in London living in fear.
“I was there to protect her, but was doing it all by myself,” claimed Alazzawi. “I didn’t get any help.” He said his wife’s former lover had offered Tamim $50m (about £28m) to lure her away and threatened to pay $1m to have her killed if she refused.

Alazzawi met Tamim, a beautiful Lebanese singer, in Harrods two years ago. She was already receiving some threats to her life and he, a world kickboxing champion, had offered to help protect her. The couple became close and married last year.

Six weeks ago, however, Tamim was murdered while on a visit to Dubai: she suffered multiple stab wounds and had her throat slit. Prosecutors have charged a prominent Egyptian MP and business tycoon with arranging to pay a hitman £1m to travel to Dubai and kill her. Both men may face the death penalty if convicted.

The case has caused a sensation in the Arab media with its insight into the world of Middle Eastern celebrity, power, intrigue and revenge.

This weekend Alazzawi revealed how he and Tamim were routinely followed, harassed and subjected to a series of telephone threats while living in London. He believed the threats came from the Egyptian tycoon Hisham Talaat Mustafa, who had previously had an affair with Tamim, and men who said they were acting on Talaat’s behalf.

“Suzanne told me that he had phoned her and said that if she left me and went to marry him he would pay her $50m. He then said that if she refused he would then kill her with $1m,” said Alazzawi.

On another occasion, Alazzawi alleged that Talaat had phoned him at the couple’s flat in Knightsbridge. “He said forget about this girl. I’ll kill her and kill you if you don’t give me the girl.” Later Alazzawi claimed he was telephoned by a man who said he had been sent to Britain by Talaat to shoot him.

In a statement to his lawyer, Shahrokh Mireskandari, made five months before Tamim’s murder, Alazzawi said: “The hitman explained he had been sent to this country especially to kill [me]. He said he was not on his own but part of a big team of people working on this.

“The hitman explained that the only reason he was doing this job was because he had been paid £50,000 already and would be paid more money after the shooting.” The alleged assassin said he had tipped off Alazzawi because he had decided not to carry out the murder.

According to Alazzawi, the couple reported these threats to the Metropolitan police. They provided officers with a tape recording of several of the telephone threats, including one from the alleged hitman.

Officers arranged for them to have a panic alarm installed, and told them to keep in regular touch. But otherwise, Alazzawi claimed, they failed to act decisively on the information by warning off Talaat.

“Suzanne went to see the police officer dealing with the case,” said Alazzawi. “She told her: ‘Today I’m alive, tomorrow I may be dead. Why can’t you help me?’ The officer responded by stating that Talaat was a senior government figure in Egypt.”

Tamim rose to fame after winning a talent competition in Lebanon in 1996. Her career, which included several successful albums, was later overshadowed by a troubled private life that included two divorces.

She had an affair with Talaat but moved to London after the couple went through a bitter separation. Talaat tried unsuccessfully to sue her in a Geneva court earlier this year for the return of millions of pounds worth of cash and gifts he claimed to have given her.

On July 28 she was found dead at the age of 30 at the luxury apartment she owned with Alazzawi in Dubai. She had multiple stab wounds and an 8in slash across her throat which almost decapitated her.

According to the indictment by the Egyptian public prosecutor, a former police officer, Muhsen el-Sukkari, killed Tamim after tricking her into opening the front door by posing as a representative of the building’s owners. “He then laid into her with the knife . . . cutting her main arteries and her trachea.”

Dubai investigators say that after the attack, el-Sukkari dumped the overalls and cap he had been wearing in a rubbish bin outside the building. They were found by police and tested for DNA. Police say the alleged killer’s face also appeared on security camera footage.

The indictment alleges the murder “was on the instigation of the second defendant [Talaat] in return for obtaining from him the sum of $2m for committing this crime”.

It states that Talaat “took part through incitement, agreement and assistance with the first defendant in killing the victim in revenge”.

The high-profile murder was an embarrassment for the Dubai authorities, who have been trying to clean up their country’s image to attract western businesses. The emirate has recently cracked down on tourists going topless on beaches and launched a public anti-corruption campaign.

El-Sukkari was arrested on August 6 in Egypt. Tapes of alleged phone conversations kept by el-Sukkari and seized by police led them to Talaat.

In one, a man said to be Talaat says: “The agreed amount is ready.” He tells el-Sukkari: “Tomorrow she is in London, you should act.”

In a later tape, el-Sukkari explains he missed his chance in London and “will wait to move it to Dubai”. Talaat allegedly chides him and says: “Okay, let’s finish with this.”

Prosecutors said that el- Sukkari then followed her from London to Dubai, where he bought a knife to kill her.

Talaat has denied any part in the murder and his lawyers say they will challenge the tapes.
Egyptian media reports have said that el-Sukkari worked as a security officer at the Four Seasons hotel in the Red Sea resort of Sharm el-Sheikh, built by the Talaat Mustafa Group, which is owned by Talaat.

The company specialises in luxury hotels and beach resorts and has been a leading force in building western-style suburbs ringing Cairo. Prosecutors say that el-Sukkari confessed to his involvement soon after he was arrested and implicated Talaat in the crime.

As well as being one of the country’s wealthiest businessmen, Talaat has immense political

influence. He is a stalwart of the ruling National Democratic party and a member of the Shura Council, the country’s upper house of parliament. He is said to be close to President Hosni Mubarak’s son and heir apparent, Gamal.

When his name surfaced in the Egyptian media as a suspect, Talaat denied any involvement. But he was stripped of his parliamentary immunity, arrested and charged last week after the Dubai police handed over their file on the case to the authorities in Cairo. Shares in his company fell 16% on reports of the indictment.

A spokesman for Scotland Yard said allegations it had received were investigated, and no criminal offence within its jurisdiction had emerged. Alazzawi said detectives had recently taken a statement. “They told me the murder had happened abroad,” he said. “But this case began in London.”

He is distraught about his wife’s death. “I’m angry that I lost her. I was there to protect her but I was doing it all by myself. I didn’t get any help from anybody. I did my best. But for five days she went to Dubai without me and look what happened.”

By David Leppard

© The Times News Service 2008

Gulfnews: Dubai building rule violators will be punished

Gulfnews: Dubai building rule violators will be punished:

By Alice Johnson, Staff ReporterPublished: August 23, 2008, 23:47

Dubai: Every year, 2.3 million people die in occupational accidents or from work-related diseases worldwide. Approximately 60,000, or 2.3 per cent, of these deaths are in the construction industry.
There are approximately 270 million occupational accidents per year, and 160 million cases of occupational disease, according to statistics from the International Labour Organisation.
Dubai is no exception, the emirate recorded 249 accidents on construction sites last year, 47.8 per cent of which involved labourers falling from heights.

Falls from 2004 to 2007 constituted 45 per cent of a total 865 accidents, according to statistics from Dubai Municipality.
Other types of accidents included collapses at work sites, 23 per cent; crane and other machinery accidents, 14 per cent; and incidents involving fires and electric shocks, 7 per cent.

The issue was highlighted recently, when the municipality published a new manual for contractors and construction companies, stipulating health and safety regulations for workers in the industry.
Currently, the Building Department Inspection Section visits 150 construction sites per day, which is to increase to between 400 and 500 in the near future.

Breaching construction site safety regulations can result in fines and even closure of the site itself.
Fawzi Mohammad Al Shehi, Acting Director, Building Department, said: “There are many violations a day, but most of them are rectified quickly. Fines range from zero to Dh50,000, because some violations are very small.” Construction site safety breaches include not wearing the correct safety wear, such as a hard hat.

Total fines issued in June were Dh1.5 million.

Eisa Al Maidour, Assistant Director General, Dubai Municipality Planning and Building Affairs, said: “Safety is the contractors’ responsibility. We cannot prevent all accidents. The aim is not to fine, the aim is to correct the situation and prevent further violations.”
According to exhibition organisers Epoc Messe Frankfurt, site accidents occur because of the increasing number of projects underway. The company will be organising the Intersec trade fair in Dubai, which includes “construction safety” as a theme, in January 2009.

Eckhard Pruy, CEO of the company, said: “The rapid increase in the number of construction projects in the UAE and other Gulf countries has caused an alarming number of accidents at construction sites. According to research, construction projects in excess of $2.4 trillion (Dh8.8 trillion) are underway, with the majority of developments being carried out in Saudi Arabia and the UAE.”
Projects in Dubai include the Waterfront Project (Dh183 billion) and the Burj Dubai development (Dh73 billion).

“High investments in infrastructure and the construction industry do often stand in opposition to required safety standards. A variety of safety standards has been implemented by the government, but the biggest challenge is to make companies adhere to these regulations by imposing fines and sanctions against those who break the rules,” Pruy said.

Dubai: Annual statistics
865 accidents from 2004-2007
45 per cent of accidents were falling from heights
23 per cent of accidents were collapses
14 per cent of accidents involved cranes and machinery
7 per cent of accidents were electric shocks
249 accidents in 2007
47.8 per cent of accidents in 2007 were falling from heights

Gulfnews: Dubai building rule violators will be punished

Gulfnews: Dubai building rule violators will be punished:

By Alice Johnson, Staff ReporterPublished: August 23, 2008, 23:47

Dubai: Every year, 2.3 million people die in occupational accidents or from work-related diseases worldwide. Approximately 60,000, or 2.3 per cent, of these deaths are in the construction industry.
There are approximately 270 million occupational accidents per year, and 160 million cases of occupational disease, according to statistics from the International Labour Organisation.
Dubai is no exception, the emirate recorded 249 accidents on construction sites last year, 47.8 per cent of which involved labourers falling from heights.

Falls from 2004 to 2007 constituted 45 per cent of a total 865 accidents, according to statistics from Dubai Municipality.
Other types of accidents included collapses at work sites, 23 per cent; crane and other machinery accidents, 14 per cent; and incidents involving fires and electric shocks, 7 per cent.

The issue was highlighted recently, when the municipality published a new manual for contractors and construction companies, stipulating health and safety regulations for workers in the industry.
Currently, the Building Department Inspection Section visits 150 construction sites per day, which is to increase to between 400 and 500 in the near future.

Breaching construction site safety regulations can result in fines and even closure of the site itself.
Fawzi Mohammad Al Shehi, Acting Director, Building Department, said: “There are many violations a day, but most of them are rectified quickly. Fines range from zero to Dh50,000, because some violations are very small.” Construction site safety breaches include not wearing the correct safety wear, such as a hard hat.

Total fines issued in June were Dh1.5 million.

Eisa Al Maidour, Assistant Director General, Dubai Municipality Planning and Building Affairs, said: “Safety is the contractors’ responsibility. We cannot prevent all accidents. The aim is not to fine, the aim is to correct the situation and prevent further violations.”
According to exhibition organisers Epoc Messe Frankfurt, site accidents occur because of the increasing number of projects underway. The company will be organising the Intersec trade fair in Dubai, which includes “construction safety” as a theme, in January 2009.

Eckhard Pruy, CEO of the company, said: “The rapid increase in the number of construction projects in the UAE and other Gulf countries has caused an alarming number of accidents at construction sites. According to research, construction projects in excess of $2.4 trillion (Dh8.8 trillion) are underway, with the majority of developments being carried out in Saudi Arabia and the UAE.”
Projects in Dubai include the Waterfront Project (Dh183 billion) and the Burj Dubai development (Dh73 billion).

“High investments in infrastructure and the construction industry do often stand in opposition to required safety standards. A variety of safety standards has been implemented by the government, but the biggest challenge is to make companies adhere to these regulations by imposing fines and sanctions against those who break the rules,” Pruy said.

Dubai: Annual statistics
865 accidents from 2004-2007
45 per cent of accidents were falling from heights
23 per cent of accidents were collapses
14 per cent of accidents involved cranes and machinery
7 per cent of accidents were electric shocks
249 accidents in 2007
47.8 per cent of accidents in 2007 were falling from heights

Bank issues warning on ‘destabilising’ property speculators – Real Estate – ArabianBusiness.com

Bank issues warning on ‘destabilising’ property speculators – Real Estate – ArabianBusiness.com: ArabianBusiness.com

by Amy Glass on Thursday, 24 July 2008

QUICK GAINS: Standard Chartered says short-term speculators looking to are damaging Dubai’s property market. (Getty Images)The Dubai government should take action immediately to stop rampant speculative activity across the emirates’ property market, Standard Chartered warned on Thursday.

Speaking on the sidelines of a press conference, Marios Maratheftis, regional head of research at Standard Chartered, told Arabian Business the government must act “as soon as possible” to rid the real estate market of destabilising short-term buyers.

According to Colliers International, property prices in Dubai rose 42 percent in the first three months of 2008, well beyond Standard Chartered’s forecast of 15 percent for the entire year.

The bank’s research revealed prices were being inflated by short-term buyers who were on-selling their properties, even before their first installments were due, with the sole intention of making a quick profit.”

Maratheftis said the situation was so urgent, the government should impose a capital-gains tax of at least 50 percent on profits from properties purchased and sold within a 12 month period.

Buyers who held onto their property for longer should be exempt, he added.Real estate developers should also require a higher deposit figure than the standard 10 percent for a property, such as 20 percent of the property’s value.

Buyers should be also be forced to provide proof they can afford the remaining payments.

Off-plan properties are currently suffering from the most speculation, with the cost of these properties often the same as for completed units, Maratheftis said.Property prices in Dubai have soared since foreigners were given the right to own real estate in limited areas in 2002, with demand surging past supply on rapid population growth.

Bank issues warning on ‘destabilising’ property speculators – Real Estate – ArabianBusiness.com

Bank issues warning on ‘destabilising’ property speculators – Real Estate – ArabianBusiness.com: ArabianBusiness.com

by Amy Glass on Thursday, 24 July 2008

QUICK GAINS: Standard Chartered says short-term speculators looking to are damaging Dubai’s property market. (Getty Images)The Dubai government should take action immediately to stop rampant speculative activity across the emirates’ property market, Standard Chartered warned on Thursday.

Speaking on the sidelines of a press conference, Marios Maratheftis, regional head of research at Standard Chartered, told Arabian Business the government must act “as soon as possible” to rid the real estate market of destabilising short-term buyers.

According to Colliers International, property prices in Dubai rose 42 percent in the first three months of 2008, well beyond Standard Chartered’s forecast of 15 percent for the entire year.

The bank’s research revealed prices were being inflated by short-term buyers who were on-selling their properties, even before their first installments were due, with the sole intention of making a quick profit.”

Maratheftis said the situation was so urgent, the government should impose a capital-gains tax of at least 50 percent on profits from properties purchased and sold within a 12 month period.

Buyers who held onto their property for longer should be exempt, he added.Real estate developers should also require a higher deposit figure than the standard 10 percent for a property, such as 20 percent of the property’s value.

Buyers should be also be forced to provide proof they can afford the remaining payments.

Off-plan properties are currently suffering from the most speculation, with the cost of these properties often the same as for completed units, Maratheftis said.Property prices in Dubai have soared since foreigners were given the right to own real estate in limited areas in 2002, with demand surging past supply on rapid population growth.

Banks in credit risk warning

original published: http://www.arabianbusiness.com/525814-banks-in-credit-risk-warning?ln=en

Analysts have warned that UAE banks risk becoming overexposed to bad debt and defaulted loans, due to people fleeing the region to escape debt, and the lack of a federal credit bureau.According to the UAE Central Bank, consumer loans have soared more than 55% since the end of 2006, as the second-largest Arab economy has slashed interest rates in line with the US. Loans to individuals rose to US$13.18bn to the end of March 2008, compared with US$8.51bn in December 2006.“

There are no controls and huge opportunities for fraud or bad loans,” said Deepak Tolani, senior associate, equity research, at UAE investment bank Al Mal Capital.“Over 80% of the UAE population is expatriate, who could just get up and leave,” he continued. “The banks are on their own in the UAE – they don’t share credit information and there is no credit bureau, so I can go get a credit card of 15 times my salary, then go to the next bank and get another one.”

The number of UAE residents fleeing the country to escape debt is on the rise, according to experts.

The phenomenon, known in banking circles as ‘skipping’, has already led to some Gulf Central Banks tightening their consumer lending rules and risk weightings, in a bid to curb debt accumulation.Analysts also warned that any slowdown in the influx of expatriates into the region could trigger a credit squeeze.“

The main thing that could make lending a systemic issue in the UAE and Qatar, is if something happened to slow or stop immigration,” warned Raj Madha, senior research analyst at EFG-Hermes in Dubai.“

It is difficult to see what that might be, but perhaps political or regional instability, or – less dramatically – a reduced welcome for the kind of immigrants who also invest capital in the country,” he added. “

If net immigration were to slow sharply, the end user market for property would undershoot, and you might have a very substantial build-up in non-performing loans across the country.”

Update Property Scandal Al Areifi Tower Dubai Marina

7DAYS General and Local News Dubai Abu Dhabi UAE Buyers are sold out

Buyers are sold out

Last Updated : Wednesday 23 Jul, 2008 –

People who paid tens of thousands of dirhams for apartments in a new tower block have told 7DAYS of their shock on discovering the building has been sold TWICE.Melanie Mouton says she paid dhs250,000 for a studio apartment in Al Areifi Marina Tower three years ago, before it was built.But she says Saudi developer, Al Areifi Real Estate Company, then sold the entire building to another company.

According to Mouton, from South Africa, Al Areifi offered to pay back her dhs250,000 plus a percentage – which she says is not enough.

Mouton told 7DAYS: “They said there had been a dispute with the builder and they would give us our money back plus 25 per cent – but I said: ‘No, I just want my apartment’.”

Then they said 50 per cent. But this was for something I paid for three years ago – I can buy nothing in Dubai with that money now because the prices have gone up so much.”Mouton says she found out earlier this year that the 35-floor building had been sold, but since then she has heard little about the fate of her apartment.Another investor,

New Zealander Zaid Al-Hilali, said he was told the tower would not be completed due to “financial difficulties”.”

We were told by the developer to take our money otherwise he would close down and leave the country,” he said.”

Then we heard apartments had been sold twice – once to us and once to another company which bought the whole tower.”At least 50 of us have had our apartments sold twice and most of us are going to court.”

A director for Al Areifi did not want to discuss the matter with 7DAYS, but confirmed the situation.The investors say both the Real Estate Regulatory Agency and Dubai Land Department are aware of the situation. Both were unavailable for comment yesterday.

paul.mclennan@7days.ae

Property Scandal Schon Properties Dubai Lagoon – Latest Action: Termination Letters

Update Property SCandal SchonProperties Dubai Lagoon

latest comment Skyscrapercity Forum

TERMINATION LETTER

Dear All:

I have been to the RERA and had a meeting with Ms.Khoula Al Madani she is located on the 1st floor. I was informed by her that they have asked Schon Properties to issue the buyers a new revised payment plans. If the building hasn’t been started yet (according to the zones) she told me We must wait for revised payment plans and ignore any Termination Letter .

Instead of giving us the revised payment plans ….Schon Properties has started issusing Termination Letters to the buyers which has two meanings:

1.) To Sell the apartments on the higher current market prices.
2.) To collect the balance amount due. Without any promises on delivery dates.

RERA have told them to issue the New Payment Plans Instead Schon is delaying to issue the new payment plans Instead they have issued the Termination Letters

Which RERA doesn’t know about.

I would request everyone who has recieved the Termination Letter to get in touch with her or Mr.Marwan.

Dubai – No pets for owners of apartments – JBR residents resist pet ban

Gulfnews: JBR residents resist pet ban

Dubai: Expatriates living in Jumeirah Beach Residence (JBR) are vowing to fight the decision to ban pets – including dogs, cats and birds – from the development. The deadline for all pets to be removed from JBR passed yesterday but many people living there remain adamant they will not give up their loved companions without a fight. Dubai Properties LLC gave residents a 30-day deadline to make alternative arrangements for their pets at the beginning of June. But many people say they never received any correspondence on the matter while others have no intention of giving up their pets. Olga Uskova from Kazakhstan has been living in a Murjan apartment with her Tibetan spaniel Pancho since July last year. She told Gulf News: “Getting rid of my dog is not even up for discussion as he is a member of my family now. I enjoy living here but I don’t understand this whole furore about keeping pets here. I walk my dog outside the main area and I always clean up after him. “He has been chipped with a Municipality tag and doesn’t have any diseases; I really don’t see what the problem is.” The charity K9 Friends has been inundated with calls from worried residents but they are unable to take in any more animals as they are at full capacity. Nick Nice, a sales manager from England, lives with his Spanish jackabee, Lola, in Bahar One. He said there was absolutely no chance of him giving up his dog and said that someone would have to literally force Lola out of the complex. “I have not received any communication from Dubai Properties on this issue; all I have heard is rumours from other people living here. “I am a tenant and the contract I signed certainly said nothing about keeping pets. I think it’s a ridiculous policy considering the amount of rent we pay to stay in this flat.” An official spokesperson for Dubai Properties LLC said, “The JBR Towers’ Association Constitution clearly states that pets are not allowed within the JBR premises. Despite this stipulation, we are receiving repeated complaints about residents flouting the rule. “To address this problem and to ensure the entire JBR community complies with the clause for pets, we have offered a lenient time frame for residents to make alternative arrangements for their pets with immediate effect. “Dubai Properties is also working closely with local animal care organisations to explore solutions for this issue at the earliest.” Would you give up your pet if such a rule was implemented in your residential area? Is it fair for property developers to issues such clauses without prior warning? Why? Tell us at letter2editor@gulfnews.com or fill in the form bellow to send your comments. Your comments All respectable apartment complexes do not allow pets as it is unhygienic. Apartment buildings are not suitable for pets, especially dogs. It is cruel to the pets who need space to run around, and a risk to other residents. If you want a pet, get a villa. Richard Dubai,UAE Posted: July 02, 2008, 09:34 The article implies that the rule on no pets was suddenly sprung on tenants. It is not so. For over a year there have been signs in all the lobby areas, clearly stating the no pet’s policy in JBR. I have issues with JBR Management, but on this topic I think they were upfront and clear. ns Dubai,UAE Posted: July 02, 2008, 08:52 Definitely not, I bought this house and it is totally my personal space . No one is going to come in to my house and tell me what to do . Thanks TONY Dubai,UAE Posted: July 02, 2008, 08:29 When people take pets willingly, they are ready to take care of them, and pets become members of the family. Pets make people more affectionate and kinder. They are like children, would anyone give up his own child? If such rule is implemented to keep the area clean, then they should think of some other way to organize cleanness. Any warning of such kind is very cruel. What will the fate of poor animal be? anonymous Sharjah,UAE Posted: July 02, 2008, 08:29 I wouldn’t give up my pet. Pets become part of one’s family. They do not have the right to issue such a clause as long as it was not mentioned in the contract. Can u give up your child? For many, pets are their children. Mai Abu Dhabi,UAE Posted: July 02, 2008, 08:06 It is really sad 2 know that there are people who just don?t love pets. If the tenants are taking care of their pets in a proper way and they are not causing any problems 2 other people living in the surrounding, there is no reason to through them away. Sunil Abu Dhabi,UAE Posted: July 02, 2008, 08:05 For God sake, Its a pet. Pets are like family. They need to be with the human race. No use to have a pet if you can’t keep one just because of a rule barring pets. Barr night Clubs, bad channels, these are things that need to be removed.!!!! Joseph Sharjah,UAE Posted: July 02, 2008, 07:58 It?s a ridiculous rule, how can you throw a pet you have cared for and loved out of your life. They become part of your family and they are not even any menace to the society. These days we have people among us who are dirtier, not fit to live in flats and menace to the society living in, who will take care of them Danish Dubai,UAE Posted: July 02, 2008, 07:51 Absolutely not. If JBR wants my pet out… then I go out with him. How does management come up with such ridiculous ideas?? This is supposed to be an interactive community. Instead of concentrating on removing our pets – they must concentrate on better service within the residences. Claire Dubai,UAE Posted: July 02, 2008, 06:47 The residents at the JBR are owners of their properties and not at the mercy of the whims and fancies of landlords. It is high time that the developers of these properties got their act together. As shock here (no resident visa for property owners) a shock there (no pets allowed in property) gives Dubai a name that it does not deserve. Sanjay Vancouver,Canada Posted: July 02, 2008, 06:35 Giving up a pet is like giving up a child. This is the most ridiculous rule I have ever heard So basically I pay my rent, and you still, tell me what I can or cant do in my house? Mars Dubai,UAE Posted: July 02, 2008, 05:14

A reality check for realty boom – Sent Using Google Toolbar

A reality check for realty boom

original By Saifur RahmanBusiness Editor Gulfnews Published: June 20, 2008, 00:08

Dubai: Lack of coordination between government bodies could threaten the growth of the real estate sector in the Northern Emirates, industry officials cautioned on Thursday. More than 300 towers are in various stages of development on both sides of the Emirates Road in Ajman, Umm Al Quwain and Ras Al Khaimah that might be completed but will not see “light” years after completion. Some billions of dirhams have been committed by small investors that could go wrong if government authorities do not collaborate to ensure utilities, officials say. A senior federal government official has accused local governments in the Northern Emirates of “unplanned” developments that could lead to a major crisis relating to power and water supplies, or lack of it. “The abrupt development in the construction field now seen in Northern Emirates is unplanned,” Hassan Abdullah Al Ghasyah, executive director of Supply at the Federal Electricity and Water Authority (Fewa), said in a statement, responding to queries from Gulf News. “Local government authorities have not coordinated on precise water and power requirement with Fewa. However, according to the Cabinet decision, Fewa is committed to a minimum 8 per cent annual growth in power and water demand.” Private sector officials estimate the GDP growth of emirates such as Ajman at 27 per cent and population growth at 18 per cent. Real estate investors who are lining up to buy freehold homes in Ajman might have to wait for an indefinitie period for utilities, industry sources said. Saleh Amer Al Katheeri, chairman of High Sky Properties, which launched Triple Towers hosting 1,160 apartments in Ajman, told Gulf News: “Yes, electricity and water supply remain a concern for us. We have been assured by the government of a steady supply. But if there’s a shortage, we will use our own generator to power these buildings.” Issues related to utilities have forced the construction of Al Salam City – valued at Dh30 billion – to be postponed. Umm Al Quwain last month accused developers Tameer Holding for ignoring the issue, which has largely been under government control. Fewa is meeting the current demand by operating its own plants and importing water and power from Abu Dhabi Electricity and Water Authority, Al Ghasyah said. “In the future, the plan is to increase this import,” he said. Despite rising concerns, small-time investors are scrambling for apartments in new “freehold” areas in the Northern Emirates to make a quick profit. Property prices have also been rising fast due to strong demand. Apartment prices in Ajman have jumped to Dh500 per square foot, up from Dh400 in a matter of months, sources said. Power supply: New plants to be built Shaikh Abdul Aziz Bin Humaid Bin Rashid Al Nuaimi, chairman of Ajman Planning and Property Department, has openly expressed concern about the city. “I believe infrastructure development in Ajman is not coping with the rapid developments in real estate … this could cause problems,” he said. “The sewage project is delaying the infrastructure development, though we are pushing for its completion to go ahead with the infrastructure development. The Ministry of Energy will also build a new electricity and water plant.” - By Bassma Al Jandaly/, Staff Reporter Would you buy property to live or as an investment? Would higher returns on investment encourage you to buy property despite a lack of infrastructure?

A reality check for realty boom – Sent Using Google Toolbar

A reality check for realty boom

original By Saifur RahmanBusiness Editor Gulfnews Published: June 20, 2008, 00:08

Dubai: Lack of coordination between government bodies could threaten the growth of the real estate sector in the Northern Emirates, industry officials cautioned on Thursday. More than 300 towers are in various stages of development on both sides of the Emirates Road in Ajman, Umm Al Quwain and Ras Al Khaimah that might be completed but will not see “light” years after completion. Some billions of dirhams have been committed by small investors that could go wrong if government authorities do not collaborate to ensure utilities, officials say. A senior federal government official has accused local governments in the Northern Emirates of “unplanned” developments that could lead to a major crisis relating to power and water supplies, or lack of it. “The abrupt development in the construction field now seen in Northern Emirates is unplanned,” Hassan Abdullah Al Ghasyah, executive director of Supply at the Federal Electricity and Water Authority (Fewa), said in a statement, responding to queries from Gulf News. “Local government authorities have not coordinated on precise water and power requirement with Fewa. However, according to the Cabinet decision, Fewa is committed to a minimum 8 per cent annual growth in power and water demand.” Private sector officials estimate the GDP growth of emirates such as Ajman at 27 per cent and population growth at 18 per cent. Real estate investors who are lining up to buy freehold homes in Ajman might have to wait for an indefinitie period for utilities, industry sources said. Saleh Amer Al Katheeri, chairman of High Sky Properties, which launched Triple Towers hosting 1,160 apartments in Ajman, told Gulf News: “Yes, electricity and water supply remain a concern for us. We have been assured by the government of a steady supply. But if there’s a shortage, we will use our own generator to power these buildings.” Issues related to utilities have forced the construction of Al Salam City – valued at Dh30 billion – to be postponed. Umm Al Quwain last month accused developers Tameer Holding for ignoring the issue, which has largely been under government control. Fewa is meeting the current demand by operating its own plants and importing water and power from Abu Dhabi Electricity and Water Authority, Al Ghasyah said. “In the future, the plan is to increase this import,” he said. Despite rising concerns, small-time investors are scrambling for apartments in new “freehold” areas in the Northern Emirates to make a quick profit. Property prices have also been rising fast due to strong demand. Apartment prices in Ajman have jumped to Dh500 per square foot, up from Dh400 in a matter of months, sources said. Power supply: New plants to be built Shaikh Abdul Aziz Bin Humaid Bin Rashid Al Nuaimi, chairman of Ajman Planning and Property Department, has openly expressed concern about the city. “I believe infrastructure development in Ajman is not coping with the rapid developments in real estate … this could cause problems,” he said. “The sewage project is delaying the infrastructure development, though we are pushing for its completion to go ahead with the infrastructure development. The Ministry of Energy will also build a new electricity and water plant.” - By Bassma Al Jandaly/, Staff Reporter Would you buy property to live or as an investment? Would higher returns on investment encourage you to buy property despite a lack of infrastructure?

The Case Rafat Usmani – Amnesty International seeking for help

original published: Amnesty International

http://www.amnesty.org/en/library/asset/MDE25/003/2008/en/c58ee1ce-2e5b-11dd-a024-1d23853b0ef1/mde250032008eng.html

May 30, 2008

Pakistani national Rafat Usmani was arrested and detained on 28 May and says that he was tortured the same day. The authorities have since denied holding him in custody, leading to concern that he has been subjected to enforced disappearance. He is in grave danger of further torture or other ill-treatment.

Rafat Usmani has lived and worked in the Emirate of Dubai, in the United Arab Emirates (UAE), for over 12 years. Over the course of 2008, he has been in communication with the Office of the Auditors (a quasi-judicial body under the control of the ruler of Dubai, which deals with financial offences) in relation to financial irregularities alleged to have taken place at his former workplace. His representative in these procedures has been an American lawyer.

Most recently, he was summoned to the Office of the Auditors at 1pm on 28 May. He was told that the summons was for him to collect his passport and sign a number of forms connected with his application to change his employment sponsorship, which is a requirement for foreign nationals working in the UAE. Rafat Usmani went to the office with his wife and also his brother and his wife, who are American citizens. His brother waited in a car outside the office, while his wife and sister-in-law entered with him. One hour after their arrival the two women were told that they must leave but that Rafat Usmani must remain. They were then told, “We will teach you Americans a lesson.” Later that day Rafat Usmani was brought home by a group of men, some of them in uniform, believed to be members of Amn al-dawla (state security police). They searched the house and took his laptop computer and other personal items.

During the search, Rafat Usmani told his family, in tears, that he had been tortured. At that point he was taken away and was therefore not able to provide further details. His family have made extensive inquiries with the authorities, but they have denied having him in custody.

Rafat Usmani has a detached retina. He will reportedly lose his sight in that eye unless he takes medicine every four hours. He did not have the medicine with him when he was taken into custody. He also has very high blood pressure and has been hospitalized twice in the last month due to collapsing from stress.

BACKGROUND INFORMATION

At least two people are known to have been tortured in custody in the UAE in 2007. UAE national ‘Abdullah Sultan al-Subaihat and Pakistani national Rashed Mahmood were both beaten severely. ‘Abdullah Sultan al-Subaihat was also subjected to sleep deprivation, forced to carry a chair over his head every day and threatened with sexual assault.

RECOMMENDED ACTION: Please send appeals to arrive as quickly as possible, in Arabic, English, or your own language:

- expressing concern for the safety of Rafat Usmani, who was taken into custody on 28 May and has not been heard from since;

- expressing concern that Rafat Usmani says he was tortured in custody on 28 May and urging the authorities to ensure that he is not subjected to further torture or other ill-treatment;

- expressing concern that he may be at serious risk of losing his eyesight and urging the authorities to provide him with any medicine and medical attention he may require;

- calling on the authorities to inform his family of his whereabouts without delay and to allow them and his lawyer prompt access to him.

APPEALS TO:

Minister of the Interior

Major-General Shaikh Saif bin Zayed Al Nahyan

Ministry of the Interior

PO Box 398

Abu Dhabi

United Arab Emirates

Fax: + 971 2 4414938

Salutation: Your Excellency

Vice-President, Prime Minister and Ruler of Dubai

Shaikh Mohammad bin Rashid Al-Maktoum

Office of the Prime Minister

POB 73311

Dubai

United Arab Emirates

Fax: +971 4 330 4000

Salutation: Your Highness

Email: help@dubai.ae

webmaster@sheikhmohammed.ae (mark “Please forward to the Office of the Emir”)

Minister of Foreign Affairs

Shaikh ‘Abdullah bin Zayed Al Nahyan

Ministry of Foreign Affairs

PO Box 1

Abu Dhabi

United Arab Emirates

Fax: + 971 4 228 0979

Salutation: Your Excellency

COPIES TO: diplomatic representatives of the United Arab Emirates accredited to your country.

PLEASE SEND APPEALS IMMEDIATELY. Check with the International Secretariat, or your section office, if sending appeals after 11 July 2008.

The Case Rafat Usmani – Amnesty International seeking for help

original published: Amnesty International

http://www.amnesty.org/en/library/asset/MDE25/003/2008/en/c58ee1ce-2e5b-11dd-a024-1d23853b0ef1/mde250032008eng.html

May 30, 2008

Pakistani national Rafat Usmani was arrested and detained on 28 May and says that he was tortured the same day. The authorities have since denied holding him in custody, leading to concern that he has been subjected to enforced disappearance. He is in grave danger of further torture or other ill-treatment.

Rafat Usmani has lived and worked in the Emirate of Dubai, in the United Arab Emirates (UAE), for over 12 years. Over the course of 2008, he has been in communication with the Office of the Auditors (a quasi-judicial body under the control of the ruler of Dubai, which deals with financial offences) in relation to financial irregularities alleged to have taken place at his former workplace. His representative in these procedures has been an American lawyer.

Most recently, he was summoned to the Office of the Auditors at 1pm on 28 May. He was told that the summons was for him to collect his passport and sign a number of forms connected with his application to change his employment sponsorship, which is a requirement for foreign nationals working in the UAE. Rafat Usmani went to the office with his wife and also his brother and his wife, who are American citizens. His brother waited in a car outside the office, while his wife and sister-in-law entered with him. One hour after their arrival the two women were told that they must leave but that Rafat Usmani must remain. They were then told, “We will teach you Americans a lesson.” Later that day Rafat Usmani was brought home by a group of men, some of them in uniform, believed to be members of Amn al-dawla (state security police). They searched the house and took his laptop computer and other personal items.

During the search, Rafat Usmani told his family, in tears, that he had been tortured. At that point he was taken away and was therefore not able to provide further details. His family have made extensive inquiries with the authorities, but they have denied having him in custody.

Rafat Usmani has a detached retina. He will reportedly lose his sight in that eye unless he takes medicine every four hours. He did not have the medicine with him when he was taken into custody. He also has very high blood pressure and has been hospitalized twice in the last month due to collapsing from stress.

BACKGROUND INFORMATION

At least two people are known to have been tortured in custody in the UAE in 2007. UAE national ‘Abdullah Sultan al-Subaihat and Pakistani national Rashed Mahmood were both beaten severely. ‘Abdullah Sultan al-Subaihat was also subjected to sleep deprivation, forced to carry a chair over his head every day and threatened with sexual assault.

RECOMMENDED ACTION: Please send appeals to arrive as quickly as possible, in Arabic, English, or your own language:

- expressing concern for the safety of Rafat Usmani, who was taken into custody on 28 May and has not been heard from since;

- expressing concern that Rafat Usmani says he was tortured in custody on 28 May and urging the authorities to ensure that he is not subjected to further torture or other ill-treatment;

- expressing concern that he may be at serious risk of losing his eyesight and urging the authorities to provide him with any medicine and medical attention he may require;

- calling on the authorities to inform his family of his whereabouts without delay and to allow them and his lawyer prompt access to him.

APPEALS TO:

Minister of the Interior

Major-General Shaikh Saif bin Zayed Al Nahyan

Ministry of the Interior

PO Box 398

Abu Dhabi

United Arab Emirates

Fax: + 971 2 4414938

Salutation: Your Excellency

Vice-President, Prime Minister and Ruler of Dubai

Shaikh Mohammad bin Rashid Al-Maktoum

Office of the Prime Minister

POB 73311

Dubai

United Arab Emirates

Fax: +971 4 330 4000

Salutation: Your Highness

Email: help@dubai.ae

webmaster@sheikhmohammed.ae (mark “Please forward to the Office of the Emir”)

Minister of Foreign Affairs

Shaikh ‘Abdullah bin Zayed Al Nahyan

Ministry of Foreign Affairs

PO Box 1

Abu Dhabi

United Arab Emirates

Fax: + 971 4 228 0979

Salutation: Your Excellency

COPIES TO: diplomatic representatives of the United Arab Emirates accredited to your country.

PLEASE SEND APPEALS IMMEDIATELY. Check with the International Secretariat, or your section office, if sending appeals after 11 July 2008.

UAE residents get time to prepare for VAT

original published GulfNews 27, May 2008
http://archive.gulfnews.com/business/General/10216460.html

Dubai

The introduction of the value added tax (VAT), expected early next year, will depend on the government’s preparedness as well as the “taxpayers’ readiness”, a senior government official said.

We are working on it and will soon be ready for implementation.

The entire country will have to be ready for this,Abdul Rahman Al Saleh, executive director of Dubai Customs, told Gulf News on Monday evening.

It will depend on the government’s readiness as well as the taxpayers’ readiness.

Al Saleh told Reuters on Monday that the government has postponed the introduction of VAT from late 2008 to early 2009. “We were planning for the last quarter of 2008 but we have put it back to the first quarter of 2009,” he was quoted as saying.

The GCC (Gulf Cooperation Council) states entered into a common customs union in 2003, after standardising the import duties largely at five per cent. Initially, VAT is expected to replace the customs duty and start at a very low tax level.

The introduction of the VAT is a federal government decision. We will, of course, give the people enough time for this after we get ready for it administratively,” Al Saleh added.

German Dubai Property Investment Disaster

German Version original published manager-magazin.de

A Financial Fraud ? – Who or What is LOSNA ?

A dream hotel in Dubai and high returns for investors – what a fund initiator from Germany once promised seems now to be a financial fraud.

The Initiator of this fraud could be an unknown investor from a caribean off shore company named “LOSNA”

It is a closed-end real estate fund, which funds promised develop the largest four-star hotel in the Arab world ,operated by the Maritime Group.

The fund initiator of the Dubai 1000 Investment Fund,Mr. Recker from Germany Hamm in Westphalia, promised investors a profit 9 to 12 percent per year .

Above all, however, it exist a mysterious Off-shore company in the Caribbean,called LOSNA, which paid suspect 107 million euros – money, but so far it seems hardly anyone of this company got to face.

Months before Manager-Magazin.de ( Germany) reported that in the Dubai Desert may be a new investor disaster .

The object of the Hotel Fund “Dubai 1000″, a luxury hotel, equipped with 1,000 rooms and 50 suites would have already opened in July 2007.

In fact, but on the alleged plot to that date only a huge construction pit, surrounded by several hundred-meter-long fence.

Even if under high pressure would continue, experts had estimated, was an opening of the Nobel hostel sooner than two years later to be expected.

What little remained even then, nor now appears unlikely.

And that is not only that the construction since the autumn of 2007 barely discernible progress has been made.

The investigation now is about suspect money laundering , suspect advertisement from a bank,” said the German Public procecuter Ina Holznagel. “The suspect in the specific case has now disbanded.” According Holznagel the investigation now is whether the money of investors generally in accordance with its purpose is used, whether in Dubai actually a hotel is built. Investment volume of the “Dubai 1000 Fund” is around 145 MillionEURO.

At least half of the invest hold the initiatior Recker as equity investors in place

According to manager-magazin.de only 1000 investors hold shares in volume of around 24.8million euro.

read more:

http://www.manager-magazin.de/geld/geldanlage/0,2828,547468,00.html

http://www.manager-magazin.de/geld/geldanlage/0,2828,547468-2,00.html

http://www.manager-magazin.de/geld/geldanlage/0,2828,547468-3,00.html

GulfNews-German fund faces probe into Dubai hotel

original published GulfNews:
http://archive.gulfnews.com/articles/08/04/12/10204959.html

German real estate fund ‘Dubai-1000-Hotel-Fonds’ may cause severe losses to investors, according to lawyer Jens-Peter Gieschen of German solicitor’s office KWAG, which specialises in capital law and investor protection.

The fund was started in 2005 on the German grey capital market to finance a 1,000-room luxury hotel project in Dubai. The project, which should have been completed in July 2007, hangs in the balance.

The fund was scheduled to collect some 142 million euros from investors. Initiated by German investment broker Georg Recker, the fund promised annual returns between nine and 12 per cent.

“The yield prognosis of the fund has been entirely unrealistic,” Gieschen said. He visited the construction site of the luxury hotel in February and found nothing but a fence surrounding an excavation.

The site did not have a plot number or signs of contract companies, which is mandatory for building projects in Dubai, he said.

Public prosecutor Ina Holznagel from Dortmund, Germany, has ordered a probe as the fund is presumably still collecting money from investors.
Twelve investors have now launched an official complaint against Recker and his investment company Dubai 1000 Verwaltung.

German magazine Cash Online reported Recker as saying that the fund has been closed after collecting the targeted 142 million euros from investors, and the hotel project is developing according to plan.

Governance and crisis control Dubai

Posted on 26 Apr 2008

Deyaar Development, a real estate developer that has a reputation for selling off-plan projects within hours of announcing them, or getting its share offering oversubscribed more than 10 times at a time when most regional corporates dreaded the very thought of going public, has suddenly become a subject of speculation, rumours and unwanted publicity.

The company’s predicament seems to have a lot to do with its communication strategy (or lack of it) rather than the underlying case related to an alleged financial misappropriation and the arrest of senior executives. The case is under investigation and the law of the land will take its course.

It throws up key issues in terms of transparency, governance and reporting standards.

Last week, speaking at the Winning Strategies forum in Dubai, former General Electric CEO Jack Welch advised business leaders in the Gulf to deal pro-actively with the media during a crisis. “The minute you expose it (a crisis), talk about it, it moves fast through the system and you’re over it. If everybody knows, and everybody knows how you are dealing with it, you take away all the ammunition,” said Welch.

This is where Deyaar seem to have erred in its judgment. To be fair, it did indeed report the case to the stock market and the regulator, but only after rumours began to spread and reports appear in the press.

Lapses of this nature will have serious implications for the credibility of the company involved, the industry, the market, the regulators and the entire system.

Warning

Delegates at last week’s Corporate Governance Forum (CGF) in Dubai warned that the region has a long way to go before it meets international standards, while its breakneck growth and lagging controls made it prone to corporate failures in the nature of Enron and Barings Bank.

According to a survey of regional institutional investors by HSBC last year, nearly two-thirds of investors (64 per cent) said that poor corporate governance is ‘a significant barrier’ to market performance.

Despite the regional deficiencies in governance standards, it must be recognised that the UAE is one of the first countries in the Gulf that has recognised the urgent need to address the issue. The Dubai International Financial Centre’s (DIFC) Hawkamah Institute is making pioneering efforts to raise the bar. As part of several of its proactive steps, it has recently announced the launch of an environmental corporate governance and sustainability indices for regional markets, in association with rating agency Standard & Poors.

Education is the key to kicking the old habits of stowing away the skeletons. Scandals and failures are the last thing any sensible person would wish for. When they do happen, we have to learn, for the sake of not repeating the mistakes.

According to a survey of regional institutional investors byHSBC last year, nearly two-thirdsof investors(64 per cent) said that poor corporate governance is ‘a significant barrier’ to market performance.

How PR works in Dubai

original published: http://www.kippreport.com/article.php?articleid=1163

Apr 24, 2008

Back in the golden age of the British Empire, the Royal Navy frequently engaged in an unsubtle but effective recruitment strategy known as “press ganging,” which basically consisted of hitting a person over the head and dragging him by his heels onto a boat.

As tricky as it can be to persuade a man to abandon the comforts of home for the perils of scurvy, seasickness and giant squids, getting a Dubai journalist to attend a press conference presents challenges of its own. Indeed, it seems only a matter of time before we start to see coded messages from Shanghaied hacks slipped into the local business pages: “A Dubai developer ForTheLoveOfGodHelpMe today announced…”

The problem is, the city is in the grips of an epidemic, a particularly virulent strain of Announcement Fatigue. It’s reached the point where many reporters won’t get out of bed for anything less than a cure for cancer, and then they’ll expect you to be handing out limited-edition “Cure for Cancer” mobile phones at the door.

Last year, however, the Middle East Public Relations Association removed this delicate cudgel from the hands of local PR reps, strongly suggesting a $50 limit on press conference incentives. For the unfortunate souls who have nothing more to announce than, say, a new suntan lotion, an audience consisting of three crickets, two tumbleweeds and a guy with a mop is considered a coup.

Given the situation in Dubai, then, it was remarkable to see more than 50 local journalists milling around on a lawn outside the Jumeirah Beach Hotel recently, almost an hour before an upcoming announcement from the Dubai Multi Commodities Centre, nibbling nuts and sipping juice without so much as a rolled eyeball.

DMCC is planning to build an enormous pearling-themed complex on Antarctica, one of the islands of The World. The hook is that the Pearls of Arabia project aims to revive Dubai’s ancient pearling tradition, establishing the emirate, once again, as the global heartland of the trade.

read more:
http://www.kippreport.com/article.php?articleid=1163

Dubai Deyaar Former CEO:Others To Blame In Probe

original published Zawya

http://www.zawya.com/story.cfm/sidZW20080421000171/lok144503080421?weeklynewsletter&zawyaemailmarketing

Monday, Apr 21, 2008

 

DUBAI (Zawya Dow Jones)–Zack Shahin, who resigned as chief executive of Deyaar Development Co.

Deyaar Development Co (DEYAAR.AI) last week after he was detained amid a financial investigation, told Zawya Dow Jones Monday that he is innocent and that others are to blame for alleged wrongdoing at the company.

“I’m totally innocent,” Shahin, told Zawya Dow Jones in an exclusive interview from a Dubai Police station in the city’s Bur Dubai district, where he is currently being detained amid an alleged embezzlement probe by Dubai authorities.

Shahin, who was unshaven and wearing a plain blue t-shirt, baseball cap and sandals, said he is accused of stealing 350,000 U.A.E. dirhams ($95,000) from DeyaarDeyaar , Dubai’s third-largest traded real-estate company.

“Others are responsible” for the financial irregularities at Deyaar.

Deyaar , he said. Shahin, a U.S. passport holder, said he was currently being held without charge. He spoke to Zawya Dow Jones without his attorneys present.

Lawyers at Shahin’s attorneys Al Sharif Advocates & Legal Consultants were immediately unavailable to comment on the matter when called Monday.

The Shahin investigation threatens to tarnish the reputation of Dubai’s ongoing $300 billion real-estate building boom and question its regulatory standards.

“This case shows the government doesn’t tolerate any corruption and we are committed to tackling corruption and we are completely transparent in this,” a U.A.E. government spokesperson told Zawya Dow Jones Monday.

Arabic-language jail documents seen by Zawya Dow Jones last week said that Shahin’s case was first referred to the police on March 23 and that he was called to the Dubai Public Prosecution office on April 2. His first hearing took place on April 14, according to the document.

When Shahin’s case was first referred to the police Deyaar .

Deyaar ’s chairman was Mohammed Khalfan Bin Kharbash. Kharbash Monday declined to comment when asked by Zawya Dow Jones whether he was aware of the investigation.

Kharbash resigned from the company on March 29, days ahead of Shahin’s detention.

A spokesman for the U.S. embassy in Abu Dhabi said “We are aware of the situation and are in contact with Mr. Shahin.” The spokesman said he couldn’t comment further citing privacy issues.

Low customer loyalty for Gulf developers – survey

Low customer loyalty for Gulf developers – survey

original published: http://v5.test.arabianbusiness.com/516852-low-customer-loyalty-for-gulf-developers—survey?ln=en

by Amy Glass on Thursday, 17 April 2008

Half of real estate investors in the GCC do not have a preferred property developer, the Arabian Business Property Survey 2008 has found.

The survey results indicate low customer loyalty for Gulf developers, with 49.46% of all people who have purchased property in the GCC stating they do not favour any particular property group.

The surprising findings appear to raise questions about overall customer satisfaction with services offered by GCC developers, and the quality levels of properties purchased.

Of those property investors who did state a developer preference, Emaar Properties investors were the most loyal, with 24.51% of GCC investors placing the developer as their preferred choice. Nakheel was the closest contender to Emaar, receiving 8.28% of votes.

Aldar Properties (3.05%), Dubai Properties (2.51%) and Deyaar (2.18%) were the only other GCC developers to register a percentage above 2%.

Opinion is also split on the level of building quality in the Gulf, as 48.18% of those who had purchased property in the GCC said they believed the building quality was below international standards.

However 49.65% of investors felt building quality was equal to international standards. Only 2.17% felt quality was above international standards.

Data from the survey has also found the overwhelming majority of property investors believe real estate within the GCC is overpriced.

Figures from the study have revealed 45.31% of respondents believe property prices are far too expensive, while 42.78% said prices are moderately overpriced.

Only 10% of survey participants feel prices are fair and only 1.83% believed prices are low, the survey found.

comments of this article:

http://v5.test.arabianbusiness.com/516852-low-customer-loyalty-for-gulf-developers—survey?ln=en

 

 

Low customer loyalty for Gulf developers – survey

Low customer loyalty for Gulf developers – survey

original published: http://v5.test.arabianbusiness.com/516852-low-customer-loyalty-for-gulf-developers—survey?ln=en

by Amy Glass on Thursday, 17 April 2008

Half of real estate investors in the GCC do not have a preferred property developer, the Arabian Business Property Survey 2008 has found.

The survey results indicate low customer loyalty for Gulf developers, with 49.46% of all people who have purchased property in the GCC stating they do not favour any particular property group.

The surprising findings appear to raise questions about overall customer satisfaction with services offered by GCC developers, and the quality levels of properties purchased.

Of those property investors who did state a developer preference, Emaar Properties investors were the most loyal, with 24.51% of GCC investors placing the developer as their preferred choice. Nakheel was the closest contender to Emaar, receiving 8.28% of votes.

Aldar Properties (3.05%), Dubai Properties (2.51%) and Deyaar (2.18%) were the only other GCC developers to register a percentage above 2%.

Opinion is also split on the level of building quality in the Gulf, as 48.18% of those who had purchased property in the GCC said they believed the building quality was below international standards.

However 49.65% of investors felt building quality was equal to international standards. Only 2.17% felt quality was above international standards.

Data from the survey has also found the overwhelming majority of property investors believe real estate within the GCC is overpriced.

Figures from the study have revealed 45.31% of respondents believe property prices are far too expensive, while 42.78% said prices are moderately overpriced.

Only 10% of survey participants feel prices are fair and only 1.83% believed prices are low, the survey found.

comments of this article:

http://v5.test.arabianbusiness.com/516852-low-customer-loyalty-for-gulf-developers—survey?ln=en

 

 

2nd largest Property Deveolper Dubai Deyaar faces investigationc- CEO jailed

The CEO of Deyaar, Dubai’s second-largest property developer by market value, has been detained and is under investigation for alleged financial irregularities, the company and Dubai authorities said.

Deyaar said in a statement on Thursday that Chief Executive Officer Zack Shahin had resigned, without giving a reason.

“He’s been detained,” Deyaar Chairman Nasser al-Shaikh told Reuters on Thursday. “There is an investigation by the Public Prosecution … he did something he was not a supposed to do.”

An official at the Dubai Public Prosecution confirmed Shahin had been detained and was under investigation.

Shaikh would not be more specific about the allegations saying only that they are “financial” in nature.

“From our side we saw a few things that raised our concern and we are now going through the legal system for the benefit of our company and our shareholders,” Shaikh said.

“Whatever is going on right now, it will not have any real impact on Deyaar profitability,” Shaikh said.

Shares of Deyaar were down 2.13% at 8:26am GMT.

The company named Adnan Tareen, head of finance, as acting CEO. Shahin could not immediately be reached for comment on his mobile phone. (Reuters)

More information about the case:
in GulfNews
http://www.gulfnews.com/business/Real_Estate_Property/10206298.html

Shaky foundations

 

original published ArabianBusiness.com

http://www.arabianbusiness.com/516690-shaky-foundations

updateDate = “Wednesday, 16 April 2008 09:52″ document.getElementById(‘crumbs-dir’).innerHTML = ‘REAL ESTATE / COMMENT /’ by Rob Corder on Wednesday, 16 April 2008

Prepayment for any products or services has always warranted a discount. Pay for a flight or hotel room up front, and you expect to get a cheaper price.

Business-to-business transactions invite even deeper discounts for companies prepared to stump up cash in advance.

The reason is simple: prepayment means positive cash flow, which can be worth a considerable percentage of any transaction.

Buying property off plan is the ultimate prepayment scheme and, like all others, it comes with a discount. The reason for the discount is two-fold. First, the developer selling property benefits from positive cash flow. In some cases, sufficient property can be sold to completely finance the building project.

Secondly, there is risk involved for the buyer, and this is built into the price.

The early days of the Dubai real estate boom, when non-Emiratis were first allowed to buy property, was a time of extreme risk. The legal system had not even been changed before developers were selling forms of ownership.

I can recall people being given contracts all but scribbled on the back of a fag packet that promised the bearer that they would own a certain property when the law allowed them to do so.

His Highness Sheikh Mohammed, who was Dubai’s Crown Prince at the time, had given his word the law would change, and for early investors – typically buying from government-owned developers – that word was good enough.

These early investors were right. They took the risk and netted massive rewards. Villas selling for $1.5 million when Palm Island was first announced are now being advertised for closer to $15 million.

The developers also won. Dubai government-owned Nakheel’s business was almost entirely founded on the cash generated from selling the first Palm Island properties off plan. Emaar, also partially owned by the Dubai government, had earlier pulled the same trick with the city’s first freehold developments for expats: Emirates Hills and Emirates Lakes.

Fast-forward six years and, while the law has been considerably tightened regarding foreign ownership, new risks have emerged in the off plan market.

Several tiers of operators have emerged. Developers such as Nakheel and Emaar have been upgraded to master developers. Smaller developers, some of which have become giants in their own right, buy plots from the master developers on which to build their own skyscrapers or villa complexes.

Investors or private home buyers can buy from master developers, sub developers, or real estate brokers that buy and sell ownership rights in the same way as futures traders sell ownership of coffee beans.

And the vast majority of speculators have as much intention of ending up holding keys to a home as traders intend to own tonnes of coffee beans. They are buying and selling paper, not property.

This house or cards has been underpinned by real estate values running ahead of the cost of building property, and the willingness of people to pay ever-higher prices for it.

But these foundations are being attacked from several directions.

Construction costs rose at about twice the rate of inflation in 2007, up around 20% according to research from international consultancy EC Harris. The price of steel reinforcement rose by 46% and structural steel gained 38%, while cement prices ended the year 30% higher.

The cost of steel in the UAE has continued to soar – up 35 percent since the start of the year. And there are shortages of many raw materials used in construction, causing costly delays to projects.

Staff costs are rising due to inflation and competition for workers. Gulf currencies, which are pegged to the US dollar, are weakening. The Indian rupee, the Euro and the British pound are all strengthening, making the GCC a less attractive place to work for citizens of countries that typically provide all the labour for the construction industry.

Money is also getting more expensive in the wake of the global credit crunch. Central banks across the Gulf have been cutting base rates in line with cuts at the US Federal Reserve, but these rates have not been passed on to businesses as banks shy away from making risky loans.

Selling bonds – effectively borrowing from the private sector and wealthy individuals – has become common to finance projects. But confidence is ebbing away and these bonds will need to offer higher and higher guaranteed rates of return to attract buyers. The money to developers is again more expensive.

But the bunker buster that could blow the foundations of the off plan market apart is consumer confidence. Until last month, investors were unconcerned about holding the ownership rights to a property that would be built in the future.

Supply was low, demand was high, and real estate prices looked like going up forever.

But now there are stories that properties will not be built. There are stories that developers would rather compensate people holding ownership rights, than build the properties that they have bought.

Damac Properties’ Palm Springs development was the first cancelled project to break into the open. The shockwaves were felt as far away as London, where investors threatened to sue the developer unless the properties they had paid for were built.

Palm Springs should have been completed by the end of last year, but Damac postponed construction of the homes, and finally cancelled it completely in March. They offered to buy back the ownership rights to the properties at a premium of 6 percent per annum for every year since investors bought it.

An investment of $1 million when the project was launched five years previously would only be bought back for $1.33 million – hardly the return that the rest of the Dubai property boom was delivering over that period.

Damac claimed the cancellation was due to planning changes imposed on it by Nakheel, the master developer of Palm Jebel Ali on which Palm Springs was due to sit. Nakheel denies responsibility.

It is possible that Damac has fallen into a negative equity trap where the revenue it raised from the sale off plan of the Palm Springs development is no longer sufficient to build the project at a profit.

Five years on from the launch of Palm Springs, it is cheaper to buy back the ownership rights at 33 percent more than they sold them for than to build the properties.

UAE daily Emirates Business on Tuesday unearthed two other developers that claim to be in a similar situation. Al Arefi Marina at Dubai Marina and the A1 Tower at Jumeirah Village South, have been put on hold or cancelled, according to the paper, although the developers responsible for the projects have not made the decision on whether to buy back ownership rights, or continue to build what might be loss-making towers.

If buy-backs become common, billions could be wiped off the value of ownership rights overnight. Owners would be faced with a terrifying choice: sell at a discount rate back to the developer – perhaps 30 percent below today’s values – or press for the development to be completed, which might bankrupt the developer leaving the owner with nothing.

The rising costs afflicting the construction and development industries show no signs of abating. The only release valve might be a sharp economic slowdown, which would be as likely to send weaker developers bust as spiralling inflation.

The risks therefore are growing, while the potential rewards are shrinking in buying property off plan. The attraction of prepayment is vanishing for buyers, while becoming ever more critical to the survival of sellers.

The days of multi-billion projects being sold off-plan within hours of their launch could be over. Expect buyers to show considerably more caution in the future.

Rob Corder is the Editorial Director of ITP Publishing Group.

 

UAE to censor Internet

One of the two major ISP’s in the United Arab Emirates is to begin censoring the Internet immediately.

du, which is 40% owned by the Federal government, will commence blocking non-conforming sites on Monday.

du subscribers were notified mid-afternoon Sunday by a general-circular text message to their cell phones, which said ’sites that do not conform to the moral, social and cultural values of the UAE,’ will be blocked as of Monday.

Separately, du said in a statement, ‘It is our constant endeavour to maintain the perfect balance between ensuring that all our customers’ requirements are met, and that we comply with all the guidelines of the TRA (UAE Telecommunications Regulatory Authority), including those on Internet content filtering.’

‘The World Wide Web offers us great opportunities to get and share information and to communicate. However, it is imperative that when making use of this technology for its enormous benefits, we respect the moral, social and cultural values of the United Arab Emirates,’ the statement said.

‘du will be blocking all content that is not in line with these values, effective from 14 April 2008,’ the du statement added.

UAE to censor Internet

One of the two major ISP’s in the United Arab Emirates is to begin censoring the Internet immediately.

du, which is 40% owned by the Federal government, will commence blocking non-conforming sites on Monday.

du subscribers were notified mid-afternoon Sunday by a general-circular text message to their cell phones, which said ’sites that do not conform to the moral, social and cultural values of the UAE,’ will be blocked as of Monday.

Separately, du said in a statement, ‘It is our constant endeavour to maintain the perfect balance between ensuring that all our customers’ requirements are met, and that we comply with all the guidelines of the TRA (UAE Telecommunications Regulatory Authority), including those on Internet content filtering.’

‘The World Wide Web offers us great opportunities to get and share information and to communicate. However, it is imperative that when making use of this technology for its enormous benefits, we respect the moral, social and cultural values of the United Arab Emirates,’ the statement said.

‘du will be blocking all content that is not in line with these values, effective from 14 April 2008,’ the du statement added.

Investors step up campain to expose DAMAC

original published 23.March 2008 http://damaconcovered.wordpress.com/category/nakheel/

Just one example of media being contacted:

Thank you for your letter to the Guardian. Unless you have indicated otherwise, it will be considered for publication – as long as you have included the following details a full name and full postal address (including street, town and county) and a daytime contact telephone number.

It is also helpful to include a reference (headline, section, publication date) to the article to which your letter refers. Letters are usually published with only a village, town or city as the address (or an organisation where relevant). The other contact details are forverification only. If your email did not include them, please resend the full text of your letter with these details to letters@guardian.co.uk.

Whether or not we publish your letter, it will be read and forwarded, whereappropriate, to the relevant journalist or section editor. Please note that letters may be edited.

Regards
Letters editor
The Guardian

So keep watching this space!

Investors step up campain to expose DAMAC

original published 23.March 2008 http://damaconcovered.wordpress.com/category/nakheel/

Just one example of media being contacted:

Thank you for your letter to the Guardian. Unless you have indicated otherwise, it will be considered for publication – as long as you have included the following details a full name and full postal address (including street, town and county) and a daytime contact telephone number.

It is also helpful to include a reference (headline, section, publication date) to the article to which your letter refers. Letters are usually published with only a village, town or city as the address (or an organisation where relevant). The other contact details are forverification only. If your email did not include them, please resend the full text of your letter with these details to letters@guardian.co.uk.

Whether or not we publish your letter, it will be read and forwarded, whereappropriate, to the relevant journalist or section editor. Please note that letters may be edited.

Regards
Letters editor
The Guardian

So keep watching this space!

Popular Dubai-based blog "Secret Dubai Diary" blocked by TRA

Popular Dubai-based blog blocked by TRA
original article from 7days.ae Last Updated : Tuesday 18 Mar,
2008 – 10 comments

Secret Dubai Diary, one of the emirate’s most popular blogs, has been shut down in a move that has upset the many thousands of its readers. The UAE Telecommunications Regulatory Authority (TRA) has decided to block secretdubai.blogspot.com, calling it, “a web site for slander, defamation and vilification against Dubai”.

The same site was blocked in 2005 for similar reasons. However, since laws to block web sites were not concrete then, the site was eventually unblocked. This time, the TRA says the content was more offensive.

TRA spokesman Rasheed Joumblatt told 7DAYS: “Many people contacted the TRA complaining about the offensive language and the lies that had been spread on the site, ‘mutilating’ their beautiful city and twisting facts to dishonour the development and progress of the city…

“The TRA browsed the web site and found that it is a site for slander, defamation and vilification against the city of Dubai… and UAE individuals and personalities.”

However, one expat who regularly read the site said he was disappointed to see it had been blocked. He said: “It offered a nice irreverent look at life in the UAE. I do not believe it was slanderous or anti-Dubai. It was just people speaking their mind and giving their own, honest views on people living here. I hope the ban is lifted.”

Readers Comments

Posted by Jerica
What a shocker. Heaven forbid that anyone take personally responsibility on what they view on the internet.

Posted by mike_abudhabi
It’s a shame that the UAE TRA has blocked this site. I thought the UAE was open to freedom of speech and expression and news. What happened TRA?

Posted by dan perry
mike_abudhabi – really mike? you really thought that? come on, wake up buddy
Posted by FRZ
If Dubai is really an “open city”, it should consider those blogs as a “heads up”.

Posted by Proud Emarati
Funny! Why are you shocked, eh? When someone insults you and tries to destroy your image do you just keep quiet? Simple shows that certain groups of people like yourselves have no respect for this country. Now thats a shame!!

Posted by secretdubai
Thank you all for the support, and to 7Days for continuing to push for freer speech despite so many setbacks and so much undeserved hostility. It will take more than a proxy block to shut me up – and of course the rest of the world can still read what I have to say ;)

Posted by Proud Emarati
secretdubai: not as long as you live here!

Posted by umsara
secret dubai i pitty you really- it seems like you forgot how it was living in your “perfect country”" that know you have to put it on the place youre making a living from! and thinking that the rest of the world cares to what appears like a desperate women’s blabber is really a strech!!!! you people think your open to cultures but all you are is stereotyped discriminative blocked headed poeple who dont respect other cultures OR maybe your just bored who knows!

Posted by Jerica
Proud Emarati, I listen to Emaratis and other nationalities bash my country to no end. Of course the minute the offending party realizes that it is my home country, they shut up and back track. But in the same instance, I respect the right to other peoples opinions. EVERY ONE has something horrible said about their home countries. It does not mean you police their activities on the internet. As long as they are not planning some crime or making threats in any way, then it should be no big deal.

Posted by 7 days fan
I have to agree with Jerica. No country is perfect and sometimes the ideal of freedom of speech can initiative positive change and make people think about issues. Admittedly I’ve never seen the Secret Dubai site, so I am not too sure about the content, but provided it’s not inciting racial hatred or anything dire like that, what’s the problem. I love my home country, but I am the first to admit it’s not perfect and it is often criticism of the deficiencies that leads to them being addressed. Same goes for Dubai. I have a lot of respect for the place and the people here, but by the same token, it is not perfect and people should have the right to discuss this freely and lobby for change.

Popular Dubai-based blog "Secret Dubai Diary" blocked by TRA

Popular Dubai-based blog blocked by TRA
original article from 7days.ae Last Updated : Tuesday 18 Mar,
2008 – 10 comments

Secret Dubai Diary, one of the emirate’s most popular blogs, has been shut down in a move that has upset the many thousands of its readers. The UAE Telecommunications Regulatory Authority (TRA) has decided to block secretdubai.blogspot.com, calling it, “a web site for slander, defamation and vilification against Dubai”.

The same site was blocked in 2005 for similar reasons. However, since laws to block web sites were not concrete then, the site was eventually unblocked. This time, the TRA says the content was more offensive.

TRA spokesman Rasheed Joumblatt told 7DAYS: “Many people contacted the TRA complaining about the offensive language and the lies that had been spread on the site, ‘mutilating’ their beautiful city and twisting facts to dishonour the development and progress of the city…

“The TRA browsed the web site and found that it is a site for slander, defamation and vilification against the city of Dubai… and UAE individuals and personalities.”

However, one expat who regularly read the site said he was disappointed to see it had been blocked. He said: “It offered a nice irreverent look at life in the UAE. I do not believe it was slanderous or anti-Dubai. It was just people speaking their mind and giving their own, honest views on people living here. I hope the ban is lifted.”

Readers Comments

Posted by Jerica
What a shocker. Heaven forbid that anyone take personally responsibility on what they view on the internet.

Posted by mike_abudhabi
It’s a shame that the UAE TRA has blocked this site. I thought the UAE was open to freedom of speech and expression and news. What happened TRA?

Posted by dan perry
mike_abudhabi – really mike? you really thought that? come on, wake up buddy
Posted by FRZ
If Dubai is really an “open city”, it should consider those blogs as a “heads up”.

Posted by Proud Emarati
Funny! Why are you shocked, eh? When someone insults you and tries to destroy your image do you just keep quiet? Simple shows that certain groups of people like yourselves have no respect for this country. Now thats a shame!!

Posted by secretdubai
Thank you all for the support, and to 7Days for continuing to push for freer speech despite so many setbacks and so much undeserved hostility. It will take more than a proxy block to shut me up – and of course the rest of the world can still read what I have to say ;)

Posted by Proud Emarati
secretdubai: not as long as you live here!

Posted by umsara
secret dubai i pitty you really- it seems like you forgot how it was living in your “perfect country”" that know you have to put it on the place youre making a living from! and thinking that the rest of the world cares to what appears like a desperate women’s blabber is really a strech!!!! you people think your open to cultures but all you are is stereotyped discriminative blocked headed poeple who dont respect other cultures OR maybe your just bored who knows!

Posted by Jerica
Proud Emarati, I listen to Emaratis and other nationalities bash my country to no end. Of course the minute the offending party realizes that it is my home country, they shut up and back track. But in the same instance, I respect the right to other peoples opinions. EVERY ONE has something horrible said about their home countries. It does not mean you police their activities on the internet. As long as they are not planning some crime or making threats in any way, then it should be no big deal.

Posted by 7 days fan
I have to agree with Jerica. No country is perfect and sometimes the ideal of freedom of speech can initiative positive change and make people think about issues. Admittedly I’ve never seen the Secret Dubai site, so I am not too sure about the content, but provided it’s not inciting racial hatred or anything dire like that, what’s the problem. I love my home country, but I am the first to admit it’s not perfect and it is often criticism of the deficiencies that leads to them being addressed. Same goes for Dubai. I have a lot of respect for the place and the people here, but by the same token, it is not perfect and people should have the right to discuss this freely and lobby for change.

TV executive arrested at Duai airport relaseaded

original published GulfNews http://www.gulfnews.com/nation/Police_and_The_Courts/10194195.html

By Bassam Zaza, Senior Reporter Published: March 02, 2008, 16:02

Dubai:

A TV executive has been discharged of illegally bringing in and possessing 0.03 grams of hashish, Gulf News has learnt. Dubai Public Prosecution dismissed the charges and released the suspect. Gulf News learnt that the suspect was arrested at Dubai International Airport during a business trip. A lawyer said the suspect was unaware that the drug, used by many of his friends, was in the suspect’s handbag. No one from Dubai Public Prosecution was available to give reasons behind dismissing the case and issuing a release order.

original published: http://travel.timesonline.co.uk/tol/life_and_style/travel/news/article3607846.ece

March 24, 2008

Endemol exec sent to Dubai jail after customs find ’speck of dirt’

Warning to travellers over Dubai drug laws as it is claimed officials ‘are paid bounty for each arrest’

A speck of dirt invisible to the human eye was all it took to land Cat Le Huy in a Dubai jail.

Officials at Dubai airport claimed they had found 0.03 grams of hashish in the Endemol television executive’s bag after he had travelled to the United Arab Emirates to visit a friend last month. They accused him of possession — which would have led to a mandatory four-year prison sentence had he been convicted. After he spent six weeks in Dubai’s jails protesting his innocence, prosecutors dropped the case this month.

Mr Le Huy, 31, a German citizen living in London, claims that Dubai officials are paid a “bounty” for arresting drug offenders, a practice confirmed independently to The Times by sources who did not wish to be named.

“People shouldn’t go to Dubai until the laws change,” Mr Le Huy said. “They are running a risk. Even if you’re innocent and know about the laws, if they suspect you of anything, you run the risk of incarceration.”

His experience is common, according to Fair Trials International, a legal charity, which says that drug-related arrests have increased rapidly since 2006, when the laws changed in Dubai so that trace amounts of banned substances picked up by airport detection equipment were deemed to indicate possession. “People are being subjected to very thorough searches,” said Saima Jirji, a solicitor at the charity. “Even seams in their clothing and the fluff in their pockets is being checked.”

Mr Le Huy claims that he was also approached by a detective asking whether he knew any drug-takers back in Britain and whether he could coerce them into coming to Dubai. He alleged that at least two other foreign inmates had been approached with similar requests. The UAE Embassy in London refused to comment.

At first he was accused of smuggling heroin after officials found pills in an unmarked container that turned out to be jet-lag medicine sold freely over the counter in Dubai and the US.

He was strip-searched.

Officials claimed to have found a trace of hashish in his bag and detained him.

He was asked to sign letters in Arabic, which he could not read.
Only after being told that he would at once be deported if he signed did he do so, but he wrote “under duress” beneath each signature.

Instead of being deported he was put in solitary confinement.
Because he was dehydrated and forbidden from drinking he was only able to produce a urine sample after eight hours.

Last year 59 British people were detained in Dubai over drugs offences, and so far this year the figure is nine, according to the Foreign Office. Keith Brown served nine months after customs officers found a 0.003 gram trace of cannabis stuck to his shoe.

This month the BBC Radio 1 DJ Grooverider, whose real name is Raymond Bingham, started a four-year sentence for possessing 2.16 grams of cannabis.

Fair Trials said the list of prohibited substances included everything from antidepressants to a cough medicine for children. Even those in Dubai on transit to another destination can be arrested under the regulations.

Mr Le Huy denies that there were ever any drugs on his person.
“Hashish isn’t something available in my social circle — the idea it was in my bag is absolutely ludicrous,” he says.
He was pressed by the authorities to plead guilty, but his refusal left him in a legal limbo.

After a persistent campaign by his friends in Britain and after negotiations with his lawyer in the UAE, the Dubai authorities agreed to drop the investigation.

He had initially spent two weeks at the airport jail, where he couldn’t shower because of the condition of the bathrooms. To compensate, he “discovered the magic of Dettol”, using the disinfectant to shower.

At Dubai Central Jail he suffered even worse conditions. Inmates slept eight to a cell. Because of the poor food he lost 15 kilograms in weight (more than two stone). “Every day was a bad day when you wake up and realise, ‘I’m still here.’ ” When he was finally released, he was taken to a police station to pick up his passport, only for detectives to put him in a bloodstained cell for another four hours.

During the six weeks he had found solace in the company of other English-speaking inmates such as Grooverider. Mr Le Huy said that foreign inmates were treated with “distant contempt” by guards, who “played mind games” with them. “They’d ask us to go out in the courtyard at 1am, then take four hours to search all our cells. There was a lad from London who had a bronchial infection. They made him wait in the rain for four hours even after we asked the guards if he could stand in the corridor.”

“The laws and punishments of a nation are theirs to set,” he emphasised, adding: “My point is that you will be detained for a minimum of 21 days if they suspect you of anything, whether or not you’re innocent.”

Comments:

…..just got back from dubai and i am disgusted with the way they are treating human lives with such cruelty..alcohol is freely avaiable so dont tell me its a moral thing to due with islam..these are peoples lives they are destroying..they are not drug smugglers and have only been in possession of small amounts of cannabis unknowingly or through being careless.certainly does not deserve this kind of treatment. i have been going to the area for eight years or so and this is a whole new practice by the customs..people must be warned of the dangers of smoking cannibis and going to the uae as it can last up to four weeks or more as a trace in your blood which is also a four year sentence. i really feel for the people now in prison for such ridiculous sentences and i hope our goverment puts pressure on the country to release these people as soon as possible. They are trying to be a tourist destination i think!
wads, porthleven, cornwall
i`m just back in europe after 45 days along with cat mentioned in your article. unfortunatley it´s all true. DO NOT GO TO DUBAI AND AVOID EMIRATES AIRLINES!!!!! this is all i want to add …

B.H., duesseldorf,
Having recently returned from Dubai I can only say the airlines must lace the onboard drinks with something that makes people like the place. However as I only drank water they failed to hook me! Dubai simply is the worst place I have ever visited. Of course it has sun, but then so do many other places.
In short it has nothing going for it. A more disturbing aspect is the manner in which the exploited foreign workers are treated is appalling. Boycott the place, that’s my advice.

The Story
original published: http://freediz.com/

Cat finally got released on Wednesday the 5th of March after having been detained for 6 weeks and arrived safely back home in London 0n the 6th :-)
A huge thanks to everyone else involved who has helped by showing their support and by spreading the word. The extent of bloggers and facebookers joining in support of freeing Cat must have left the Dubai authorities in shock and amazement. Incredible what the ‘masses’ can achieve in an area where all politicians – independent of nationailty have been too cowardice to even approach the subject.Excellent Work!

The CaseCat Le-Huy
known to his friends as Diz has been detained in Dubai since Saturday 26th of January whilst the Dubai authorities are trying to come up with some drugs charges against him. Cat being Asian and having long hair was an obvious target and when they found melatonin sleeping pills they decided that these had to be drugs and have sent them off for testing. They claim to have found a piece of hash in his bag and this has been sent off for analysis as well…
The very worrying thing about Dubai law is that if they do a urine test on you and find that you have traces of anything illegal in your system – independent of where you consumed these illegal substances, then this will count as smuggling and the minimum charge for anything drug related is 4 years. Even if this charge is based on a trace of something in your urine. Can I just add that something as basic as Codeine is considered illegal and just a trace of the painkiller can land you in jail.

original published: http://thetruthaboutdubai.com/?cat=6

February 25th, 2008
Filed Under Cases, Cat Le-Huy (Diz), Take Action

Cat Le-Huy as of the 22nd of February remains in Al Wathba Prison. We are exploring all possible avenues for his release. Currently the decision rests with the Dubai Chief Prosecutor as to whether to charge him or drop the case entirely. Cat’s Advocate has been presenting arguments to the Prosecution in an attempt to persuade them to drop the case.
We hope that the Chief Prosecutor can be persuaded to drop the case. It is almost like a pre-trial and the legal fees for this are are expected to be in the vicinity of £50,000. We have raised half this amount already thanks to your donations, and are now making an appeal for people to keep donating to reach the full amount. All fees will need to be paid prior to his release and therefore it is urgent and imperative that we complete the fundraising ASAP. As the amount is large, it is difficult for any one party to provide liquid cash in such a short time so we need to appeal to the public for support.
CLICK HERE TO SAVE CAT – DONATE NOW
We are hoping for a speedy, positive resolution & expect to have more solid news very shortly. There are rumours being generated within the prison that people who plead guilty, are deported though as you would expect, there are no guarantees and this is often an attempt to scare prisoners into pleading guilty, to make the Chief Prosecutor’s job easier. Cat was told if he signed the Arabic confession, he would be deported immediately. They didn’t keep their word then & we very much doubt they would now. As such, Cat agrees it’s better to tell the truth and maintain his innocent plea. Unfortunately, the legal system in the UAE is not designed with fair trials in mind & with very few practicing (drug) criminal lawyers, senior advocates & associated law firms charge a high amount for their services. In this case, we are confident that Cat’s advocate will be able to secure his release in the very near future as he has done for many others in similar situations in the past. We have been advised, there is a 90% chance this case will be closed if we can raise the financial assistance in a timely manner.
Please circulate this most important appeal for financial assistance.We are asking for your donations –whatever you can give– of which 100% of proceeds will go toward his legal defence fund. Without a lawyer, Cat will very likely have no option but to plead guilty, and we are at a critical stage in this process. Cat pleaded with us not to let him get lost in the system and we need to do everything we can to keep prevent this happening. Without legal representation, he doesn’t stand a chance.
Thank you so much for your help, we couldn’t do this without your benevolence and generosity. Please direct questions to dubai@futurecorp.co.uk.

Appeals court upholds 15-year jail terms for two in rape case

By Bassam Zaza, Senior Reporter
GulfNews – Published: February 17, 2008, 12:18

Dubai: An appeals court on Sunday upheld 15-year jail terms handed down to two Emiratis convicted of raping a French-Swiss teenager.

Saeed Ghailani, lawyer of the convicts, told Gulf News that he would appeal the ruling at the Court of Cessation.

Earlier, the Dubai Court of First Instance sentenced the men—a 35-year-old who is HIV positive and his 18-year-old compatriot—and referred the victim’s compensation claim of Dh15 million to a civil court.

The Public Prosecution charged the two men along with a 17-year-old teenager, prosecuted at Juvenile Court, with deceiving and kidnapping the 15-year-old boy and his 16-year-old compatriot.

They were also charged with forcefully undressing the 15-year old, threatening him with a knife, before having sex with him against his will.

Emaar’s communication gap

http://www.business24-7.ae/cs/article_show_mainh1_story.aspx?HeadlineID=2257
By Frank Kane on Thursday, February 14 , 2008
Emirates Business24-7

One of my all-time favourite movie lines is from the 1970s film Cool Hand Luke: “What we’ve got here is a failure to communicate,” says one of the grisly characters in the jail-break drama.

The phrase came back to mind while mulling over the latest events at Emaar, Dubai’s champion in the property business and one of the Emirates’ great standard-bearers on the global scene. For some investors, Emaar is almost a proxy for Dubai and trading in the shares accounts for as much as 40 per cent of the value of the Dubai Financial Market.

So what Emaar says and does is important to the DFM and for Dubai, and this is why there is a crucial need for clarity and accuracy when the company is talking to its shareholders. Sadly this has been lacking recently.

There have been three recent occasions in as many weeks when communications misunderstandings have caused concern among shareholders and volatility in the share price. First there was the confusion about this year’s growth projections, which led some brokers to mistakenly forecast a flat 2008 for Emaar; then there was the uncertainty over the $15 billion flotation of Emaar-MGF in India – calling off the IPO so soon after confident statements that it would go ahead caused more jitters.

Yesterday, there was the crazy mix-up over the use of the word “minimum”. In a statement in Arabic to the DFM on Tuesday night, Emaar appeared to be limiting dividends to 20 per cent of par value for the foreseeable future. That would amount to a dividend yield of less than two per cent, and, if it had been true, be guaranteed to send big investors into panic.

When the English version of the statement appeared, it was obvious that Emaar was committing itself to that rate of shareholder return as a base-level, and the actual pay-out would depend on the usual factors – how well the company was doing in local and global markets and what capital requirements it had to meet in any given year. But, crucially, there was no upward cap put on dividend policy.

For a company like Emaar, it is eminently sensible to take a prudential view of dividend policy. Building a global brand takes long-term financial commitment, and that cannot be achieved if shareholders expect an ever-increasing dividend pot each year. Emaar’s long-termism in this respect is laudable.

But it must also think long-term about its share price. In the confusion over dividend policy, alarming rumours were doing the rounds yesterday. Emaar wanted to depress the share price ahead of a buy-back, it was suggested, or wanted to exert pressure on small, troublesome shareholders to sell the stakes and get big institutions instead. I have no idea whether such rumours are true, but they did cause unnecessary volatility in the share price, and would not have been heard at all if the message had been clear in the first place.

It is not difficult to see how, in a huge multi-cultural organisation like Emaar, such mistakes might happen. I am sure the company and its advisers has a sophisticated understanding of, and commitment to, the best possible communications strategy. But they must ensure that they bridge the gap between understanding and implementation on these crucial issues of shareholder concern.

Related Articles

* Emaar’s 20% dividend offer disappoints shareholders

More in Opinion

* Gordon Brown’s tax exiles could be Dubai’s gain
* Red tape hits entrepreneurs
* Market diversity in Asia makes it hard for brands
* Paying the price for SocGen scandal
* There is more to gain in friendship than in rivalry
* UAE’s insulation against sub-prime
* Emerging markets can withstand US recession
* There’s no doubt about Shariah
* Wanted: a view over the hedges
* Emaar’s Indian reversal doubtful

Last Update at 9:15 am on February 14, 2008

There’s no doubt about Shariah

There’s no doubt about Shariah
By Frank Kane on Sunday, February 10 , 2008

original: http://www.business24-7.ae/cs/article_show_mainh1_story.aspx?HeadlineID=2086

One of the wisest maxims of life is: “If it isn’t broken, don’t fix it.” If the car is purring along nicely, resist the temptation to dismantle the engine. If the home entertainment system is providing hours of fun for the family, fight the urge to take it apart with a screwdriver.

The same applies to the financial and economic world. If a stock exchange is working well and efficiently as a market for raising capital, leave it alone. If a banking system is providing security and convenience for its customers, let it be. Interfering with it is only going to make things worse.

In the modern globalised economic world, one of the few sectors moving along very nicely indeed, even accelerating at impressive speed, is the Shariah financial market. Over the past decade, Islamic financial instruments have grown from being a little-understood sideline to traditional Western capitalism, to the situation in the world today, where Shariah finance is becoming a central part of the global economy.

So participants in the multi-billion dollar Shariah market must have been surprised and concerned by a recent statement from the Accounting and Auditing Organisation for Islamic Financial Institutions, the body of Muslim scholars that sets the standards for the industry. Focusing on sukuks – bonds that conform to the Islamic requirement that forbids interest in a financial system – the organisation, led by Sheikh Muhammad Taqi Usmani, said that as many as 85 per cent of sukuks in issue “may not fully conform to all precepts of Islamic law”. The Bahrain-based organisation, advised by 17 scholars in Islamic law, said that “blemishes” had crept into the system, and these had to be removed. If the present set-up was allowed to continue, it said, “Islamic banks will stumble and there is a danger that this virtuous movement will fail.” Serious words indeed.

There is no doubt that Shariah finance has been a “virtuous” system. It has satisfied the needs of the world’s 1.3 billion Muslims, who found that traditional Western banking structures and investment policies did not meet their needs, especially with regard to the concept of interest, and those industries, like alcohol production and gambling, which are forbidden to Islamic investors.

According to a recent survey by accounting firm Ernst & Young, Islamic investment is one of the fastest growing areas of global finance. It has shown annual growth of 20 per cent per year for the past five years, and in 2007 the total amount invested in Islamic instruments of all kinds is estimated at $900 billion (Dh3.3 trillion). This year, it is anticipated that there will be another $100bn of cash ploughed into Shariah-compliant financial instruments. The market potential is truly enormous. Ernst & Young calculates that by 2009 there will be $1.5trn of personal wealth in the Middle East alone, and that 70 per cent of this is likely to seek investment outlets compatible with Islamic precepts. That staggering sum is without including the huge capital reserves of the sovereign wealth funds of the region.

The rest of the world is catching on. Of course, the big Muslim communities in Asia and Africa will be natural customers for Islamic finance, but the growing Muslim communities in the West are increasingly seeking financial instruments, from credit cards to mortgages through to multi-billion dollar corporate bonds, that conform to their religious principles.

The financial establishments of Europe and North America have woken up to this enormous market potential, and are trying to gain access to it. Some of the best financial brains in the world, like Goldman Sachs and Deutsche Bank, are busy designing and marketing Shariah-compliant products to sell across the world. Just last week, Morgan Stanley, one of America’s biggest investment banks, said it was close to launching the first sukuk for a multinational corporate customer – a global “household name” – that could be the prompt for other big corporates to enter the sukuk markets. The urge to tap Middle East liquidity pools will be irresistible for other corporate borrowers, unable to finance their operations from the increasingly cash-strapped western banking system.

One banker told me recently: “So far all the attention has focused on what the sovereign wealth funds and other big Middle East investors will want to buy in the West, but it will be a two-way flow. We are only just starting to see a process whereby the West wants to come to the Middle Eastern markets, and they [Western corporates] are beginning to accept that a commitment to Islamic finance will get them to the table. It could be the quantum leap for Islamic finance.” In these circumstances, it is a fair question to ask whether this is the right time for Islamic experts to be questioning the basis of the system. Just as Western capitalism is beginning to understand the rules of Shariah-compliant finance, should those rules be changed?

One Dubai financial expert has voiced this opinion: “There may be an element of nervousness in issuers when faced with a structure they have not seen before.”

That is an understatement. If doubts creep in to the Islamic financial system now, just when it is on the verge of critical momentum, the result could be very damaging to the world financial structure, and to the Islamic financial industry itself.
It is right to clarify the rules, in particular the notion of “true ownership” essential to Shariah-compliant finances, and to remove worries there may be among the experts about risk-analysis in the current structures. But if that involves a structural change, as implied in the statement that 85 per cent of existing sukuks may not conform to all precepts of shariah, then it is too much change, and too radical.

With the global financial structure in such a delicate state at present, conventional capitalism needs robust and reliable Islamic alternatives more than ever.

Emaar’s communication gap

http://www.business24-7.ae/cs/article_show_mainh1_story.aspx?HeadlineID=2257
By Frank Kane on Thursday, February 14 , 2008
Emirates Business24-7

One of my all-time favourite movie lines is from the 1970s film Cool Hand Luke: “What we’ve got here is a failure to communicate,” says one of the grisly characters in the jail-break drama.

The phrase came back to mind while mulling over the latest events at Emaar, Dubai’s champion in the property business and one of the Emirates’ great standard-bearers on the global scene. For some investors, Emaar is almost a proxy for Dubai and trading in the shares accounts for as much as 40 per cent of the value of the Dubai Financial Market.

So what Emaar says and does is important to the DFM and for Dubai, and this is why there is a crucial need for clarity and accuracy when the company is talking to its shareholders. Sadly this has been lacking recently.

There have been three recent occasions in as many weeks when communications misunderstandings have caused concern among shareholders and volatility in the share price. First there was the confusion about this year’s growth projections, which led some brokers to mistakenly forecast a flat 2008 for Emaar; then there was the uncertainty over the $15 billion flotation of Emaar-MGF in India – calling off the IPO so soon after confident statements that it would go ahead caused more jitters.

Yesterday, there was the crazy mix-up over the use of the word “minimum”. In a statement in Arabic to the DFM on Tuesday night, Emaar appeared to be limiting dividends to 20 per cent of par value for the foreseeable future. That would amount to a dividend yield of less than two per cent, and, if it had been true, be guaranteed to send big investors into panic.

When the English version of the statement appeared, it was obvious that Emaar was committing itself to that rate of shareholder return as a base-level, and the actual pay-out would depend on the usual factors – how well the company was doing in local and global markets and what capital requirements it had to meet in any given year. But, crucially, there was no upward cap put on dividend policy.

For a company like Emaar, it is eminently sensible to take a prudential view of dividend policy. Building a global brand takes long-term financial commitment, and that cannot be achieved if shareholders expect an ever-increasing dividend pot each year. Emaar’s long-termism in this respect is laudable.

But it must also think long-term about its share price. In the confusion over dividend policy, alarming rumours were doing the rounds yesterday. Emaar wanted to depress the share price ahead of a buy-back, it was suggested, or wanted to exert pressure on small, troublesome shareholders to sell the stakes and get big institutions instead. I have no idea whether such rumours are true, but they did cause unnecessary volatility in the share price, and would not have been heard at all if the message had been clear in the first place.

It is not difficult to see how, in a huge multi-cultural organisation like Emaar, such mistakes might happen. I am sure the company and its advisers has a sophisticated understanding of, and commitment to, the best possible communications strategy. But they must ensure that they bridge the gap between understanding and implementation on these crucial issues of shareholder concern.

Related Articles

* Emaar’s 20% dividend offer disappoints shareholders

More in Opinion

* Gordon Brown’s tax exiles could be Dubai’s gain
* Red tape hits entrepreneurs
* Market diversity in Asia makes it hard for brands
* Paying the price for SocGen scandal
* There is more to gain in friendship than in rivalry
* UAE’s insulation against sub-prime
* Emerging markets can withstand US recession
* There’s no doubt about Shariah
* Wanted: a view over the hedges
* Emaar’s Indian reversal doubtful

Last Update at 9:15 am on February 14, 2008

There’s no doubt about Shariah

There’s no doubt about Shariah
By Frank Kane on Sunday, February 10 , 2008

original: http://www.business24-7.ae/cs/article_show_mainh1_story.aspx?HeadlineID=2086

One of the wisest maxims of life is: “If it isn’t broken, don’t fix it.” If the car is purring along nicely, resist the temptation to dismantle the engine. If the home entertainment system is providing hours of fun for the family, fight the urge to take it apart with a screwdriver.

The same applies to the financial and economic world. If a stock exchange is working well and efficiently as a market for raising capital, leave it alone. If a banking system is providing security and convenience for its customers, let it be. Interfering with it is only going to make things worse.

In the modern globalised economic world, one of the few sectors moving along very nicely indeed, even accelerating at impressive speed, is the Shariah financial market. Over the past decade, Islamic financial instruments have grown from being a little-understood sideline to traditional Western capitalism, to the situation in the world today, where Shariah finance is becoming a central part of the global economy.

So participants in the multi-billion dollar Shariah market must have been surprised and concerned by a recent statement from the Accounting and Auditing Organisation for Islamic Financial Institutions, the body of Muslim scholars that sets the standards for the industry. Focusing on sukuks – bonds that conform to the Islamic requirement that forbids interest in a financial system – the organisation, led by Sheikh Muhammad Taqi Usmani, said that as many as 85 per cent of sukuks in issue “may not fully conform to all precepts of Islamic law”. The Bahrain-based organisation, advised by 17 scholars in Islamic law, said that “blemishes” had crept into the system, and these had to be removed. If the present set-up was allowed to continue, it said, “Islamic banks will stumble and there is a danger that this virtuous movement will fail.” Serious words indeed.

There is no doubt that Shariah finance has been a “virtuous” system. It has satisfied the needs of the world’s 1.3 billion Muslims, who found that traditional Western banking structures and investment policies did not meet their needs, especially with regard to the concept of interest, and those industries, like alcohol production and gambling, which are forbidden to Islamic investors.

According to a recent survey by accounting firm Ernst & Young, Islamic investment is one of the fastest growing areas of global finance. It has shown annual growth of 20 per cent per year for the past five years, and in 2007 the total amount invested in Islamic instruments of all kinds is estimated at $900 billion (Dh3.3 trillion). This year, it is anticipated that there will be another $100bn of cash ploughed into Shariah-compliant financial instruments. The market potential is truly enormous. Ernst & Young calculates that by 2009 there will be $1.5trn of personal wealth in the Middle East alone, and that 70 per cent of this is likely to seek investment outlets compatible with Islamic precepts. That staggering sum is without including the huge capital reserves of the sovereign wealth funds of the region.

The rest of the world is catching on. Of course, the big Muslim communities in Asia and Africa will be natural customers for Islamic finance, but the growing Muslim communities in the West are increasingly seeking financial instruments, from credit cards to mortgages through to multi-billion dollar corporate bonds, that conform to their religious principles.

The financial establishments of Europe and North America have woken up to this enormous market potential, and are trying to gain access to it. Some of the best financial brains in the world, like Goldman Sachs and Deutsche Bank, are busy designing and marketing Shariah-compliant products to sell across the world. Just last week, Morgan Stanley, one of America’s biggest investment banks, said it was close to launching the first sukuk for a multinational corporate customer – a global “household name” – that could be the prompt for other big corporates to enter the sukuk markets. The urge to tap Middle East liquidity pools will be irresistible for other corporate borrowers, unable to finance their operations from the increasingly cash-strapped western banking system.

One banker told me recently: “So far all the attention has focused on what the sovereign wealth funds and other big Middle East investors will want to buy in the West, but it will be a two-way flow. We are only just starting to see a process whereby the West wants to come to the Middle Eastern markets, and they [Western corporates] are beginning to accept that a commitment to Islamic finance will get them to the table. It could be the quantum leap for Islamic finance.” In these circumstances, it is a fair question to ask whether this is the right time for Islamic experts to be questioning the basis of the system. Just as Western capitalism is beginning to understand the rules of Shariah-compliant finance, should those rules be changed?

One Dubai financial expert has voiced this opinion: “There may be an element of nervousness in issuers when faced with a structure they have not seen before.”

That is an understatement. If doubts creep in to the Islamic financial system now, just when it is on the verge of critical momentum, the result could be very damaging to the world financial structure, and to the Islamic financial industry itself.
It is right to clarify the rules, in particular the notion of “true ownership” essential to Shariah-compliant finances, and to remove worries there may be among the experts about risk-analysis in the current structures. But if that involves a structural change, as implied in the statement that 85 per cent of existing sukuks may not conform to all precepts of shariah, then it is too much change, and too radical.

With the global financial structure in such a delicate state at present, conventional capitalism needs robust and reliable Islamic alternatives more than ever.

Nakheel issued writ against fraudsters six months ago

Arabian Business
by Rob Corder on Tuesday, 22 January 2008
zoomINVESTMENT SCAM: Palminvest’s website promotes the growth potential of property on the Palm Jumeirah.Nakheel has revealed it did know about PalmInvest and even took out an injunction against the Dutch real estate investment broker six months ago demanding the company stop trading using the Palm name immediately, the Dubai-owned property firm told ArabianBusiness.com on Tuesday.

Five PalmInvest officials were arrested by Dutch authorities Monday on suspicion of fraudulently selling bonds linked to property on the Palm Jumeirah, one of three palm-shaped islands Nakheel is building off the emirate’s coast.

Nakheel previously stated it had never heard of PalmInvest, but on Tuesday said it was aware of a legal investigation being conducted out by Dutch authorities late last year.

The developer also said it would be contacting its lawyers about PalmInvest’s continued use of its copyrighted material.

PalmInvest’s website on Tuesday still showed computer-generated renditions of the Palm Jumeirah, despite the injunction requiring all copyrighted images and any associated marketing material be removed.

The site advertises bonds guaranteeing an annual 9% rate of return and offers customers the opportunity to “Invest in Palm Island in Dubai”. Investors are asked to make a minimum investment of $75,000.

“We will have to get our lawyers to look at that again,” said a spokesperson for the developer.

According to newswire AP, 90 financial investigators conducted raids on eight offices and five homes in the Netherlands and one in Monaco, seizing administration and luxury goods as part of the investigation into PalmInvest’s activities.

The spokesperson said Nakheel would cooperate with any requests from the Dutch investigators.

The developer reiterated that it does not employ any third party sales agents either in Dubai or around the world. Anybody can buy property as long as they meet pre-qualification processes including credit checks, and appear in person at a Nakheel sales office in Dubai with their passport, the spokesperson said.

It would not confirm whether PalmInvest had bought property on any of the Palm islands or in any other of Nakheel’s developments, which also includes The World archipelago.

PalmInvest lawyer Oscar Hammerstein said on Monday that a total of 28 million euros ($41 million) had been invested in Dubai property by the company.

Palm fraudsters lived playboy lifestyle
UPDATE: PalmInvest directors ‘bought four Bentleys at a time’, Dutch investigators say.

Dutch police bust Palm scam
Dutch prosecutors arrest executives of Palminvest for selling fraudulent Palm Jumeirah investments.

Nakheel issued writ against fraudsters six months ago

Arabian Business
by Rob Corder on Tuesday, 22 January 2008
zoomINVESTMENT SCAM: Palminvest’s website promotes the growth potential of property on the Palm Jumeirah.Nakheel has revealed it did know about PalmInvest and even took out an injunction against the Dutch real estate investment broker six months ago demanding the company stop trading using the Palm name immediately, the Dubai-owned property firm told ArabianBusiness.com on Tuesday.

Five PalmInvest officials were arrested by Dutch authorities Monday on suspicion of fraudulently selling bonds linked to property on the Palm Jumeirah, one of three palm-shaped islands Nakheel is building off the emirate’s coast.

Nakheel previously stated it had never heard of PalmInvest, but on Tuesday said it was aware of a legal investigation being conducted out by Dutch authorities late last year.

The developer also said it would be contacting its lawyers about PalmInvest’s continued use of its copyrighted material.

PalmInvest’s website on Tuesday still showed computer-generated renditions of the Palm Jumeirah, despite the injunction requiring all copyrighted images and any associated marketing material be removed.

The site advertises bonds guaranteeing an annual 9% rate of return and offers customers the opportunity to “Invest in Palm Island in Dubai”. Investors are asked to make a minimum investment of $75,000.

“We will have to get our lawyers to look at that again,” said a spokesperson for the developer.

According to newswire AP, 90 financial investigators conducted raids on eight offices and five homes in the Netherlands and one in Monaco, seizing administration and luxury goods as part of the investigation into PalmInvest’s activities.

The spokesperson said Nakheel would cooperate with any requests from the Dutch investigators.

The developer reiterated that it does not employ any third party sales agents either in Dubai or around the world. Anybody can buy property as long as they meet pre-qualification processes including credit checks, and appear in person at a Nakheel sales office in Dubai with their passport, the spokesperson said.

It would not confirm whether PalmInvest had bought property on any of the Palm islands or in any other of Nakheel’s developments, which also includes The World archipelago.

PalmInvest lawyer Oscar Hammerstein said on Monday that a total of 28 million euros ($41 million) had been invested in Dubai property by the company.

Palm fraudsters lived playboy lifestyle
UPDATE: PalmInvest directors ‘bought four Bentleys at a time’, Dutch investigators say.

Dutch police bust Palm scam
Dutch prosecutors arrest executives of Palminvest for selling fraudulent Palm Jumeirah investments.

Rape case A.Robert – It´s a pack of lies

7days.ae
Last Updated : Monday 04 Feb, 2008 – 3 comments

By Ali Al Shouk

The defence lawyer for two men convicted of raping a teenage boy yesterday told the Court of Appeal his clients were innocent and that the prosecution’s case had been based on lies. The pair, one of whom has AIDS and hepatitis, were given 15-year jail terms in December after being found guilty of driving the 15-year-old French-Swiss teen into the desert, forcing him to strip at knifepoint and brutally raping him.
Defence lawyer Said Al-Gelani, from Al-Gelani Advocates and Legal Consultants, said: “The victim wanted to destroy the suspects’ life, and he fabricates the whole story.” He also claimed that the fact that the boy had not become infected with HIV proved that his clients were not guilty.
“The victim’s mother has said in news reports that she is happy because her son is clean six months after the incident, but we know that hepatitis and AIDS are both transferred very fast, so how did he not become infected? Especially as he said in the records that the rape continued for 20 minutes without protection,” he said.
Al-Gelani went on to criticise the Public Prosecution for seeking harsher sentences, alleging there was not enough evidence to convict the men. “The prosecution referred the case in August to the court but they withdraw it because there wasn’t enough evidence. They then referred the case again in October,” he said. “They have manipulated the records.”
In the Court of Appeal, the prosecution are seeking harsher sentences. The defence wants the convictions quashed or at the least see the jail terms reduced. The result of the appeal will be issued later this month. At the time of the original sentencing, Judge Fahmi Monier said he had absolutely no doubt about the charged men’s guilt.
“We are sure of what happ-ened and the suspects’ denials were lies used in the hope of escaping the penalties,” he said. The victim’s mother, Veronique Robert, said of the sentencing in December: “Fifteen years is nothing for someone who knew he had AIDS.” The case is also going to be heard in the Civil Court where the victim is seeking dhs15 million in damages from his attackers.

Tower of Fraud – Gone with the Wind

XPRESS4ME.com By Bobby Naqvi, News Editor

A Dubai-based real estate brokerage agency has allegedly vanished with Dh7 million taken from around 280 investors who bought timeshare options in a Jumeirah Lakes property, an investor and a leading construction firm told XPRESS.

The construction firm and the investor are planning to file a class suit against the real estate agency.

In February 2004, PIVA Real Estate Renting Services LLC signed an agreement with Dubai-based construction company Wind Properties to market timeshare options in 13 floors of the Wind Towers, part of the Jumeirah Lakes project.

These holiday options offered investors a fixed return over a period of 25 years and a free week-long stay in the towers once a year.

“This contract was terminated by Wind Properties after a cheque [National Bank of Dubai, No. 4875, issued by PIVA] of Dh4 million bounced in December 2004,” Shahrokh Nikpour, the lawyer representing Wind Properties, said, adding that the cheque was an advance payment for selling timeshare options in 13 floors of Wind Towers.

“However, despite the termination of the contract, PIVA continued to sell the timeshare options and duped a total of 280 investors and collected a total of Dh7.355 million from them between February 2004 and December 2007,” the lawyer alleged.

“When my client discovered the fraud, he demanded that PIVA hand over the contracts. PIVA signed with the investors and declare the amount of money collected from the investors,” he said, referring to Dr Mahmoud Reza Azizi, the owner of Wind Properties. But PIVA avoided doing so.

The brokerage agency also made changes in the format of the contract provided by Wind Properties, he alleged, adding that the agency signed unauthorised contracts with the investors.
Following legal notices from Wind Properties, the general manager of PIVA, Paul Couzins, offered to settle the dues and gave a list of investors. The whereabouts of Couzins are not known.

PIVA, with commercial licence No. 237340, is owned by two Emiratis. One of the owners said: “I am out of that and can talk only when I come back after three days.”

Nikpour said: “The owners are out of the country and we will have a meeting with them next week.”

While Wind Properties severed its ties with PIVA after the cheque bounced, the construction company failed to publicise the termination of the contract with the agency.

“We didn’t publicise it in newspapers as we thought that PIVA would stop selling the options,” the lawyer explained, adding that “our client was trying to solve the matter amicably with PIVA”.
Wind Properties neither informed the authorities nor lodged a police complaint.

“Timeshare is a new concept in Dubai and this would have damaged the reputation of the industry,” a top official of Wind Properties said, requesting anonymity.

Wind Properties allegedly allowed PIVA to operate from its office in the Emarat Atrium building on Shaikh Zayed Road.

An office assistant at Wind Properties’ office at suite number 145 in the ‘B’ block in the Atrium building confirmed that PIVA’s four staff members, including Paul Couzins, assistant Renu, IT executive Vikrant Shankar and office boy Kumar operated from this office.

PIVA was earlier based at Dune Centre on Al Diyafah Road till last September, before shifting to Emarat building. A dedicated phone line for PIVA at Atrium office goes unanswered.

“So many people are calling for PIVA every day,” the assistant said.

But Nikpour denied that PIVA was operating from his client’s office.

He said, “My client was trying to get documentary evidence of the fraud and that is why PIVA was given a space in the office.”

Main Man: Wind Properties’ lawyer Shahrokh Nikpour.

Unbelievable-Lawyer of a defendant state: Negative Aids test proves boy was not raped

Gulf News

By Bassam Za’za’, Staff Reporter
Published: February 04, 2008, 00:21

Dubai: The acquittal of a defendant (who has hepatitis and Aids) of having forceful sex with a 15-year-old boy prevailed after the victim’s examination proved he didn’t contract any disease, a lawyer told a court on Sunday.

“The medical examination of 15-year-old French boy, A.R., has shown that he didn’t contract Aids or hepatitis. This fact comes six months following the incident and it proves that my 35-year-old Emirati client, A.K., didn’t penetrate or have any intercourse with the boy, otherwise the claimant would have contracted any of the diseases. A.K. and his 18-year-old compatriot I.M. are innocent,” lawyer Saeed Al Ghailani, of Saeed Al Ghailani Advocates and Legal Consultants, who is representing the Emirati defendants, told the Dubai Appeals Court yesterday.
Click Here!

“May God bless you and thank you for your efforts,” A.K. told Al Ghailani before Presiding Judge Eisa Al Sharif.

The defendants are serving a 15-year imprisonment term after the Dubai Court of First Instance incriminated them of kidnapping and having sex against the boy’s will in a desert area.

False allegations

“Since the litigation process started, the victim has been bluffing and giving false accusations claiming that his abusers (each of whom had 20-minute intercourse with him) didn’t use condoms. Yet, the medical results have contradicted the boy’s allegations and were to the advantage of A.K. who should be happy,” argued Al Ghailani.

The lawyer also accused the Public Prosecution of fabricating evidence against his clients and failing to carry out the law enforcement procedures against the defendants who were referred to court before the issuance of the accusation sheet.

The Public Prosecution charged A.K., I.M. and their 17-year-old compatriot, I.S., (prosecuted at Juvenile Court) with deceiving and kidnapping A.R. and his 16-year-old compatriot, F.K., by offering to drive them home.

They were charged with forcefully undressing A.R., threatening him with a knife and stick before having sex with him against his will, while F.K. was kept outside the vehicle.

Al Ghailani asked the court to refer the victim to Rashid Hospital for a medical examination for the “claimant in the civil case to corroborate his Dh15 million compensation claim”.

Over 50% increase in rent dispute cases

GulfNews
By Ashfaq Ahmed, Staff Reporter
Published: January 24, 2008, 00:07

Dubai: At least one rent dispute case is filed every hour in Dubai, Gulf News has learnt.

Even with the new five per cent cap on rent increases from January this year, the number of cases has not gone down. The Rent Committee has been receiving an average of 30 cases a day.

The Dubai rent committee has recorded a 53 per cent increase in the rent dispute cases in the last year. It received around 7,200 cases in 2007, compared to 4,700 cases in 2006.

“The situation is the same now, but we hope that the cases will reduce later this year due to the new rent cap law,” Mohammad Al Shaikh, secretary general of the Dubai rent committee, told Gulf News.

However, he said the trend is changing, and there has been a significant increase in cases being filed by landlords to evict tenants.

——————————————————————————–

——————————————————————————–

“The rent committee has been busy for the past year due to an increasing number of cases. We had to form two committees to dispose of the cases,” he said. Both committees meet four times a week, from Sunday to Wednesday, and hear more than 30 cases every day.

“Most eviction cases are filed by landlords of old buildings who want to renovate or demolish buildings,” he said.

Tricks

Al Shaikh said the rent committee takes a decision on eviction only after conducting a survey of the old buildings. “We do check whether the landlord is using ‘renovation’ as a trick or he really needs tenants to leave,” he said.

But, he said enough time is given to tenants even if the building has to be demolished and they always have the first right to come back to the building after renovation or rebuilding.

Al Shaikh clarified that the rent committee’s role is to implement the rent laws and not to formulate them. “We make sure that rent cap law is implemented in letter and spirit,” he said.

He confirmed that a comprehensive new rent law to manage rent disputes and put in place the increasing needs of Dubai’s residential and commercial market is expected soon. “We will work in accordance with the new law once it is officially introduced,” he said.

Gulf News earlier reported that Dubai Government will soon announce a tenancy law that will redefine the relationship between tenant and landlord, manage rent disputes and put in place a comprehensive legal framework for Dubai’s growing rental market.

The law will also specify the rules of subletting and bachelor accommodation.

Seeking recourse: How to tackle a hike

Tenants in Dubai whose rents were increased last year cannot be asked to pay an increase this year, said a senior official.

Mohammad Al Shaikh, secretary general of the Dubai rent committee, said that rents of tenants whose rents were increased last year or who signed their new contract last year cannot be increased, even by five per cent.

Also, if a tenant receives a rent hike notice mentioning an increase of more than five per cent, he or she should write a letter to the landlord or real estate agent mentioning the five per cent rent cap law. If they do not agree, then they should go to the rent committee and file a case.

The rent committee takes action on rent disputes only if a tenant or a landlord formally files a complaint with the committee. The complainant has to deposit a fee of 3.5 per cent of the total rent amount. The fee is adjusted in the rent in case a tenant wins the case.

The Dubai rent committee office is located on the ground floor of Dubai Municipality Headquarters on Baniyas Road in Deira. Telephone number: 04-2232766 or 04-2215555.

Over 50% increase in rent dispute cases

GulfNews
By Ashfaq Ahmed, Staff Reporter
Published: January 24, 2008, 00:07

Dubai: At least one rent dispute case is filed every hour in Dubai, Gulf News has learnt.

Even with the new five per cent cap on rent increases from January this year, the number of cases has not gone down. The Rent Committee has been receiving an average of 30 cases a day.

The Dubai rent committee has recorded a 53 per cent increase in the rent dispute cases in the last year. It received around 7,200 cases in 2007, compared to 4,700 cases in 2006.

“The situation is the same now, but we hope that the cases will reduce later this year due to the new rent cap law,” Mohammad Al Shaikh, secretary general of the Dubai rent committee, told Gulf News.

However, he said the trend is changing, and there has been a significant increase in cases being filed by landlords to evict tenants.

——————————————————————————–

——————————————————————————–

“The rent committee has been busy for the past year due to an increasing number of cases. We had to form two committees to dispose of the cases,” he said. Both committees meet four times a week, from Sunday to Wednesday, and hear more than 30 cases every day.

“Most eviction cases are filed by landlords of old buildings who want to renovate or demolish buildings,” he said.

Tricks

Al Shaikh said the rent committee takes a decision on eviction only after conducting a survey of the old buildings. “We do check whether the landlord is using ‘renovation’ as a trick or he really needs tenants to leave,” he said.

But, he said enough time is given to tenants even if the building has to be demolished and they always have the first right to come back to the building after renovation or rebuilding.

Al Shaikh clarified that the rent committee’s role is to implement the rent laws and not to formulate them. “We make sure that rent cap law is implemented in letter and spirit,” he said.

He confirmed that a comprehensive new rent law to manage rent disputes and put in place the increasing needs of Dubai’s residential and commercial market is expected soon. “We will work in accordance with the new law once it is officially introduced,” he said.

Gulf News earlier reported that Dubai Government will soon announce a tenancy law that will redefine the relationship between tenant and landlord, manage rent disputes and put in place a comprehensive legal framework for Dubai’s growing rental market.

The law will also specify the rules of subletting and bachelor accommodation.

Seeking recourse: How to tackle a hike

Tenants in Dubai whose rents were increased last year cannot be asked to pay an increase this year, said a senior official.

Mohammad Al Shaikh, secretary general of the Dubai rent committee, said that rents of tenants whose rents were increased last year or who signed their new contract last year cannot be increased, even by five per cent.

Also, if a tenant receives a rent hike notice mentioning an increase of more than five per cent, he or she should write a letter to the landlord or real estate agent mentioning the five per cent rent cap law. If they do not agree, then they should go to the rent committee and file a case.

The rent committee takes action on rent disputes only if a tenant or a landlord formally files a complaint with the committee. The complainant has to deposit a fee of 3.5 per cent of the total rent amount. The fee is adjusted in the rent in case a tenant wins the case.

The Dubai rent committee office is located on the ground floor of Dubai Municipality Headquarters on Baniyas Road in Deira. Telephone number: 04-2232766 or 04-2215555.

Property giants lead slide in UAE stocks

Khaleej Times Online >> News >> THE U.A.E
Property giants lead slide in UAE stocks
By Jose Franco (Our staff reporter)

23 January 2008

DUBAI — Shares in real-estate developers having higher foreign ownership than other publicly traded companies led the decline in Dubai, whose main index plunged further yesterday by 345.11 points or 6.2 per cent to close at 5,210.58.

The Dubai Financial Market (DFM) General Index continued for the second consecutive day its steepest plunge in 14 months due to foreign institutional investors offloading their Gulf shares to make up for losses in global markets, particularly the US. Its five-day slump brought losses to as much as 20 per cent.

In Abu Dhabi, the benchmark skidded by 6.8 per cent at 4,302.59 points, with the capital’s biggest property developer Aldar Properties among the biggest losers. This was the measure’s biggest one-day decline over the last four years. The UAE stocks plunge led to Dh132 billion in losses since Wednesday, with market capitalisation tumbling by Dh50.73 billion as investors reacted to market declines worldwide.

The market value of UAE listed companies fell to Dh748 billion yesterday from last week’s Dh880 billion, as the number of sellers outpaced the buyers.

A Bloomberg report said DFM-listed companies traded at an average of 17.6 times trailing earnings, as compared with a multiple of 42.7 for China’s CSI 300 Index and 22.9 for India’s Sensitive Index. “The foreigners are selling and the real-estate companies are falling the most,” Bloomberg quoted Majed Azzam, a Dubai-based property analyst at HSBC Holdings.

Emaar, the largest publicly traded real-estate developer in the Arab world, allows foreigners to own 49 per cent of its stock while Abu Dhabi’s largest developer Aldar permits 40 per cent.

Shares in Emaar, which is building the world’s highest tower, Burj Dubai, and owns US-based John Laing Homes, slumped 6.2 per cent from Dh12.55 to Dh12.20. It fell as much as 10.4 per cent to Dh11.65 during the intra-day trading.

“If you look at direct exposure, the worry for Emaar is the US is doing even worse,” Stefan Schurmann, a real-estate analyst at EFG-Hermes Holding, the biggest investment bank in Egypt, told Bloomberg. “They may have to write off some of the goodwill on the US unit.”

He added: “Real estate is directly linked to the stock markets, there is always some correlation of money flowing from one to the other, which explains some of the movements we are seeing.”

The Gulf market was home to four worst-performing stock benchmarks among 90 tracked globally by Bloomberg, but share prices rose following a buying spree triggered by high oil-export receipts.

Public Warehousing Co was the biggest loser on DFM with a fall of 15 per cent from Dh22 to Dh18.70 followed by Al Mazaya Holding Co, which slipped 14.5 per cent to Dh7.70 and Aramex, a global provider of total transportation solutions, which slid 13.5 per cent to Dh2.56.

Aldar was one of four companies that lost over nine per cent at the Abu Dhabi Securities Market Index. Its shares dropped 9.3 per cent to Dh9.522 while Qatar Telecom, Qatar’s exclusive telecoms operator, was the biggest loser at 10 per cent to Dh261 followed by National Corp for Tourism and Hotels, which declined 9.7 per cent to Dh8.20

Property giants lead slide in UAE stocks

Khaleej Times Online >> News >> THE U.A.E
Property giants lead slide in UAE stocks
By Jose Franco (Our staff reporter)

23 January 2008

DUBAI — Shares in real-estate developers having higher foreign ownership than other publicly traded companies led the decline in Dubai, whose main index plunged further yesterday by 345.11 points or 6.2 per cent to close at 5,210.58.

The Dubai Financial Market (DFM) General Index continued for the second consecutive day its steepest plunge in 14 months due to foreign institutional investors offloading their Gulf shares to make up for losses in global markets, particularly the US. Its five-day slump brought losses to as much as 20 per cent.

In Abu Dhabi, the benchmark skidded by 6.8 per cent at 4,302.59 points, with the capital’s biggest property developer Aldar Properties among the biggest losers. This was the measure’s biggest one-day decline over the last four years. The UAE stocks plunge led to Dh132 billion in losses since Wednesday, with market capitalisation tumbling by Dh50.73 billion as investors reacted to market declines worldwide.

The market value of UAE listed companies fell to Dh748 billion yesterday from last week’s Dh880 billion, as the number of sellers outpaced the buyers.

A Bloomberg report said DFM-listed companies traded at an average of 17.6 times trailing earnings, as compared with a multiple of 42.7 for China’s CSI 300 Index and 22.9 for India’s Sensitive Index. “The foreigners are selling and the real-estate companies are falling the most,” Bloomberg quoted Majed Azzam, a Dubai-based property analyst at HSBC Holdings.

Emaar, the largest publicly traded real-estate developer in the Arab world, allows foreigners to own 49 per cent of its stock while Abu Dhabi’s largest developer Aldar permits 40 per cent.

Shares in Emaar, which is building the world’s highest tower, Burj Dubai, and owns US-based John Laing Homes, slumped 6.2 per cent from Dh12.55 to Dh12.20. It fell as much as 10.4 per cent to Dh11.65 during the intra-day trading.

“If you look at direct exposure, the worry for Emaar is the US is doing even worse,” Stefan Schurmann, a real-estate analyst at EFG-Hermes Holding, the biggest investment bank in Egypt, told Bloomberg. “They may have to write off some of the goodwill on the US unit.”

He added: “Real estate is directly linked to the stock markets, there is always some correlation of money flowing from one to the other, which explains some of the movements we are seeing.”

The Gulf market was home to four worst-performing stock benchmarks among 90 tracked globally by Bloomberg, but share prices rose following a buying spree triggered by high oil-export receipts.

Public Warehousing Co was the biggest loser on DFM with a fall of 15 per cent from Dh22 to Dh18.70 followed by Al Mazaya Holding Co, which slipped 14.5 per cent to Dh7.70 and Aramex, a global provider of total transportation solutions, which slid 13.5 per cent to Dh2.56.

Aldar was one of four companies that lost over nine per cent at the Abu Dhabi Securities Market Index. Its shares dropped 9.3 per cent to Dh9.522 while Qatar Telecom, Qatar’s exclusive telecoms operator, was the biggest loser at 10 per cent to Dh261 followed by National Corp for Tourism and Hotels, which declined 9.7 per cent to Dh8.20

Members of gang held for murder at Dubai Hotel Burj Al Arab

Staff Report
Published:GulfNews September 28, 2006, 00:00

Dubai: Police nabbed a group of people who killed one Arab and injured another in a fight in the Burj Al Arab Hotel on Sunday.

Police said the fight took place in one of the hotel rooms where the victims had gone to sell diamonds worth $255,000 (Dh935,850) to a group of Russians after a Kazakh woman lured the victims, as she knew them previously.

On Tuesday, September 26, the operations department received a report stating that a murder had taken place at Burj Al Arab Hotel in Jumeirah. Police squads arrived at the scene where an Arab national R.A.S., 31, was found killed.

Police found R.A.S. tied and there was a tape around his neck and on his mouth.

They also found another Arab A.J.N., 30, who was being escorted by a nurse. He was beaten up and his feet and hands were tied.

Part 2
Murder victim ‘came to UAE to build a life for himself’
By Bassma Al Jandaly, Staff Reporter
Published: October 02, 2006, 00:00

Dubai: The two men who went to display diamonds at the Burj Al Arab never suspected their deal would turn bloody.

Rami Andrwas Sama’an, a 32-year-old Syrian, was killed last Tuesday at the seven-star hotel when he accompanied his friend and compatriot Elias Al Nadaf, 30, to meet a group of people who claimed to be diamond traders.

Sama’an came to the UAE 10 years ago and was a partner at the Al Rozana coffee shop in Al Ghusais. Sama’an has a brother and a sister. His family lives in Ma’areen, a village near Damascus.

“He came to work here to support his family and to build a life for himself,” said Fadi Al Nadaf, Elias’s brother and Sama’an’s friend.

Al Nadaf said Sama’an was unmarried and was staying with friends in an apartment in Al Nahda in Sharjah.

Members of gang held for murder at Dubai Hotel Burj Al Arab

Staff Report
Published:GulfNews September 28, 2006, 00:00

Dubai: Police nabbed a group of people who killed one Arab and injured another in a fight in the Burj Al Arab Hotel on Sunday.

Police said the fight took place in one of the hotel rooms where the victims had gone to sell diamonds worth $255,000 (Dh935,850) to a group of Russians after a Kazakh woman lured the victims, as she knew them previously.

On Tuesday, September 26, the operations department received a report stating that a murder had taken place at Burj Al Arab Hotel in Jumeirah. Police squads arrived at the scene where an Arab national R.A.S., 31, was found killed.

Police found R.A.S. tied and there was a tape around his neck and on his mouth.

They also found another Arab A.J.N., 30, who was being escorted by a nurse. He was beaten up and his feet and hands were tied.

Part 2
Murder victim ‘came to UAE to build a life for himself’
By Bassma Al Jandaly, Staff Reporter
Published: October 02, 2006, 00:00

Dubai: The two men who went to display diamonds at the Burj Al Arab never suspected their deal would turn bloody.

Rami Andrwas Sama’an, a 32-year-old Syrian, was killed last Tuesday at the seven-star hotel when he accompanied his friend and compatriot Elias Al Nadaf, 30, to meet a group of people who claimed to be diamond traders.

Sama’an came to the UAE 10 years ago and was a partner at the Al Rozana coffee shop in Al Ghusais. Sama’an has a brother and a sister. His family lives in Ma’areen, a village near Damascus.

“He came to work here to support his family and to build a life for himself,” said Fadi Al Nadaf, Elias’s brother and Sama’an’s friend.

Al Nadaf said Sama’an was unmarried and was staying with friends in an apartment in Al Nahda in Sharjah.

Vergewaltigung in Dubai / Rape Case Dubai

Eine Mutter kämpft für Ihren Sohn

http://www.boycottdubai.com/


Wenn das Opfer zum Täter wird

Von Annette Langer Quelle`: Spielgel.de

Entführt, vergewaltigt, als Homosexueller kriminalisiert: Der Fall eines 15-jährigen Franzosen, der in Dubai von drei Männern missbraucht und vielleicht mit HIV infiziert wurde, sorgt für Empörung in Frankreich und Aufregung in den Emiraten. Jetzt begann der Prozess gegen die Täter.

Dubai – Touristenmagnet, Boom-City und Steuerparadies in einem: Dubai lockt seit Jahren Millionen von Ausländern in die Wüste am Persischen Golf. Doch nicht immer hält die glitzernde arabische Metropole, was sie an Modernität verspricht.

REUTERS

Vor dem Gerichtsgebäude in Dubai: Véronique Robert umarmt ihren Sohn AlexandreDies musste ein 15-jähriger Franzose schmerzlich erfahren, als er am 14. Juli dieses Jahres mit einem Freund in das Auto eines ihm bekannten Dubaiers stieg, um sich von einem Einkaufszentrum nach Hause fahren zu lassen. In dem Wagen saßen seiner späteren Aussage zufolge noch zwei weitere Einheimische. Sie fuhren mit den beiden Franzosen in die Wüste, bedrohten sie mit einem Messer, hießen den einen, sich hinter einer Sanddüne zu verstecken, während sie den anderen im Auto der Reihe nach vergewaltigten.

Dann fuhren die Männer den misshandelten Alexandre Robert zurück in die Stadt und warfen ihn aus dem Auto – nicht ohne ihm eine Drohung mit auf den Weg zu geben: “Ich werde dein Haus niederbrennen und deine Eltern verbrennen, nachdem ich Sex mit deiner Mutter gehabt habe”, soll einer der Männer laut Aussage des 15-Jährigen gesagt haben.

Alexandre alarmierte trotzdem sofort die Polizei und erstattete Anzeige. Drei Stunden lang vernahmen ihn die Ermittler, dann nahmen sie noch am selben Tag die drei Verdächtigen fest.
Jetzt standen die 18 und 35 Jahre alten mutmaßlichen Vergewaltiger in Dubai wegen Entführung und sexuellen Missbrauchs vor Gericht. Ein dritter, erst 17 Jahre alter Junge muss sich vor dem Jugendgericht verantworten. Alle Angeklagten plädieren auf nicht schuldig. Bei einer Verurteilung droht den Erwachsenen die Todesstrafe, der Minderjährige muss mit bis zu zehn Jahren Haft rechnen.

“Ich weiß, dass du homosexuell bist”

Für Alexandre Robert häuften sich nach dem Überfall die Probleme: Noch in der Tatnacht besuchte er eigenen Angaben zufolge einen Arzt, der ihn kurz untersuchte und das gefundene Sperma zur DNA-Analyse gab. Auf zusätzliche Blutuntersuchungen habe der Arzt damals verzichtet, hieß es. In seinen Bericht schrieb der Mediziner, er habe “keine Anzeichen einer Zwangspenetration” feststellen können. Zum Abschied habe er nach Angaben des Teenagers gesagt: “Ich weiß, dass du homosexuell bist. Du kannst es ruhig zugeben. Ich sehe das.”

Was in westlichen Staaten als Diskriminierung und Vorurteil gilt, bekommt in Dubai ein vollkommen anderes Gewicht: Denn hier, in dem halbautonomen Stadtstaat der Vereinigten Emirate, ist jede Art von Homosexualität – egal ob freiwillig oder eine Vergewaltigung – ungesetzlich und kann mit Haftstrafen bis zu einem Jahr geahndet werden.

Weil französische Diplomaten die Familie Robert auf diesen Tatbestand aufmerksam machten, verließ sie Anfang Oktober Dubai, den Ort, wo Alexandre zur Schule ging und sein Vater als Hotelmanager arbeitet.

“Homosexualität ist sowohl zivilrechtlich als auch gemäß der Scharia in den Vereinigten Arabischen Emiraten illegal”, erklärt Regina Spöttl, Länderkoordinatorin für Saudi Arabien und die Golfstaaten bei Amnesty International. Zwar gebe es Entsprechungen zu den bürgerlichen Gesetzbüchern, wie wir sie kennen, diese basierten aber alle auf den islamischen Gesetzesvorschriften. Homosexualität sei dabei eines der großen gesellschaftlichen Tabuthemen und werde als Abweichung von der Norm, als Sünde und Krankheit begriffen: “Uns sind Fälle bekannt, in denen Männer, die für homosexuelle Aktivitäten verurteilt wurden, mit Hormonen behandelt wurden, um sie von dieser angeblichen Krankheit zu heilen”, sagte Spöttl SPIEGEL ONLINE.

Es gebe diverse Gummiparagrafen wie unsittliches Verhalten oder Erregung öffentlichen Ärgernisses, die vor Gericht benutzt würden, um Haftstrafen zu verhängen. Immer wieder würden auch Auspeitschungen angeordnet, erklärt die Menschenrechtlerin.

Ein Schicksal, das dem 15-jährigen Alexandre hoffentlich erspart bleibt. Der “New York Times” sagte ein Vertreter der Generalstaatsanwaltschaft in Dubai, man habe nicht die Absicht, den jungen Franzosen strafrechtlich zu verfolgen. Vielmehr strebe man die Todesstrafe für die Täter an. “Dieses Verbrechen ist eine gegen die Gesellschaft gerichtete Schandtat”, so der Sprecher.
Alexandre in Angst vor Aids

Ende August mussten die Roberts eine weitere Horrornachricht verkraften: Einer der mutmaßlichen Vergewaltiger ist HIV-positiv und an Hepatitis erkrankt – eine Tatsache, die von den Behörden in Dubai zunächst offenbar verschwiegen wurde. “Das war eine große Lüge”, empörte sich die Mutter des Opfers, Véronique Robert, jahrelang Mitarbeiterin des TV-Senders “Canal Plus”. Man habe wissentlich verhindert, dass ihr Sohn adäquat medizinisch behandelt wird, nur damit niemand erfahre, dass es Aids auch in den Emiraten gibt: “Die Regierung hat mit dem Leben meines Kindes gespielt”, sagte sie beim Prozessauftakt vor Reportern.

Der Polizeichef von Dubai, Dahi Khalfan Tamim, wies die Vorwürfe von sich: “Dieser Fall ist ein Gerichtsfall. Ich glaube, sie (Frau Robert) beschuldigt einfach jeden.” Weitere Kommentare wollte er nicht abgeben.

Dem Fernsehsender M6 France präsentierte die Journalistin vor laufenden Kameras Dokumente des Innenministeriums der Emirate, aus denen hervorgehen soll, dass die HIV-Infektion des mutmaßlichen Täters seit 2003 polizeibekannt war. Trotzdem hätten die Behörden ihr selbst sowie französischen Diplomaten mehrfach versichert, keiner der Angeklagten sei Virus-Träger. “Jetzt hängt auch noch das Damoklesschwert Aids über Alex”, sagte die Mutter der “New York Times”.
Zwar fiel der erste Aids-Test negativ aus. Gleichwohl können die Ärzte erst nach einer wiederholten Blutanalyse im Januar eine Prognose für Alexandre stellen. Der will weiter kämpfen:

“Ich muss stark sein. Ich tue dies für alle anderen Kinder, die vergewaltigt wurden und nichts dagegen tun konnten”, sagte er der “New York Times”.

Véronique Robert setzte alle Hebel in Bewegung. Sie schaltete die eigene Website “boycottdubai.com”, auf der sie die Vereinigte Arabischen Emirate auffordert, unverzüglich internationale Standards bei der Betreuung von Missbrauchs- und Vergewaltigungsopfern einzuhalten. Sie kontaktierte die französischen Diplomaten vor Ort und das Außenministerium in Paris. Einem unbestätigten Bericht der “New York Times” zufolge soll Präsident Nicolas Sarkozy noch im Juli erklärt haben, er erwarte von der Regierung der Emirate, dass der Fall “größte Aufmerksamkeit” bekomme.

Dubai reagierte und übertrug Anfang September einem neuen Staatsanwalt den Fall. Das Ergebnis: Die DNA-Proben konnten nach forensischer Untersuchung den drei Angeklagten zugeordnet werden.

Erst im April hatte der Premierminister der Arabischen Emirate, Scheich Mohammed Ibn Raschid al-Maktum, zugegeben, das Justizministerium hinke anderen Regierungsabteilungen um etwa 20 Jahre hinterher. Man müsse moderner werden und die “höchsten Standards von Transparenz und Verantwortung” schaffen. Die Medienaufmerksamkeit im Fall Robert wird sich zweifellos positiv auf eine mögliche Transparenz auswirken. Dubai ist sehr auf sein zeitgemäßes und fortschrittliches Image bedacht und reagiert sensibel auf internationale Kritik, die das Image der sauberen Boom-Region zu beschmutzen droht. Es werde ein faires Verfahren geben, versicherten die Behörden.

Währenddessen werden nicht nur in den örtlichen Medien neuerdings Rufe nach der Todesstrafe für die Täter laut: So berichtet der 23-jährige Student Ahmad aus Kaddoura im Gästebuch von boycottdubai.com über seine eigenen bitteren Erfahrungen als mehrfach missbrauchtes Kind, das nie Gerechtigkeit erfahren hat. Er bietet Alexandre seine Unterstützung an schließt mit den Worten: “Ich hoffe, die Täter werden hingerichtet, weil sie schon lange tot sind.”
Mit Material von Reuters und AP

Weiterer Bericht:

Quelle BERICHT:

http://www.time.com/time/world/article/0,8599,1680682,00.html

What allegedly happened in Dubai one steaming evening last summer would have been chilling enough in itself — the rape of a teenager by three strangers. But that act of violence also risks transforming a glittering metropolis and vacation destination, in the minds of some people, into a place to be avoided, and the attack has sparked strong reaction everywhere from Hollywood to the top levels of the French government.

Last July 14, Alexandre Robert, a 15-year-old French-Swiss youth living in Dubai with his hotel-manager father, was offered a ride home by an Emirati acquaintance from a beach club, where he was with a French friend. In the car were two local men. According to Alexandre, he was placed in the middle backseat, while the men drove the teenagers beyond the neon-soaked skyline and into the desert, where the three local men took turns raping him at knifepoint in the dark. His French friend was ordered to wait outside the car, and has told police he was not attacked. When the men finally deposited the distraught boys back in the city, they threatened to attack Alexandre’s family if he dared report them to the police.
The men could scarcely have expected what has unfolded since — an international incident involving President Nicolas Sarkozy and the United Arab Emirates leader Sheikh Zayid bin Sultan al-Nahyan. Last week, Alexandre’s mother launched a website called “Boycott Dubai,” hoping to hit at the economic heart of a city-state that has spent billions turning itself into one of the world’s top financial centers and a Western-friendly resort spot.
At home in Paris that Bastille Day holiday, Alexandre’s mother Véronique got the call at four in the morning telling her what had happened. “My instinct was to get on the first plane to Dubai,” she says. But another instinct kicked in too — that of a veteran political journalist, with connections at the top levels of the Elysée Palace and the French foreign ministry. Within minutes of speaking to Alexandre, Véronique Robert — who spent years as a producer for Canal Plus Television — woke up French diplomats in Dubai, who dispatched the consulate’s attorney to accompany Alexandre back to the Dubai police station.
The previous evening, Alexandre had given a three-hour statement alone to the police, but it was neither recorded nor translated, according to Véronique Robert, citing accounts from Alexandre and his father. The police doctor who examined Alexandre declared that there was no physical sign of rape, and suggested that Alexandre was instead concealing his homosexuality. Homosexual sex is a criminal act in Dubai, punishable with one year in jail.
The consulate attorney delivered dramatically different results. After he persuaded Dubai police to take a new statement from Alexandre, police arrested and charged two men within hours, thanks to the license plate Alexandre had glimpsed in the near-dark, and Alexandre’s ability to spot them in a police lineup. The two men go on trial this Wednesday, charged with “forced homosexuality,” knife-wielding and kidnapping; the third suspected attacker — the acquaintance of Alexandre — will stand trial in a juvenile court.
Véronique Robert has worked her journalistic contacts to press her son’s case, and got early word to Sarkozy of what had happened. In an Elysée meeting in July, Sarkozy told the UAE leader that he wanted “utmost attention” given to Alexandre’s alleged attack, according to a confidential diplomatic telex from the French ambassador to the Emirates to his bosses in Paris.
Despite that, Dubai officials reported three times that the two suspects were not infected with the HIV virus, according to French diplomats, even though that appears to be untrue. A document released by government officials to French diplomats in August showed that one man had tested positive while in prison four years ago. Alexandre will receive word only in January whether he was infected during the alleged attack. “There is a lot of malfunctioning, but from where I do not know,” says a French diplomat in Dubai, explaining the bungling over the AIDS tests. In late October, the French foreign ministry added a warning for travelers about crime in Dubai.
French officials in Dubai have offered Alexandre diplomatic protection this week in Dubai; he and his mother fly from Paris on Tuesday to attend the trial. “Let’s be honest, I never wanted to go back but I want justice, so I have to,” Alexandre told TIME in Paris on Monday.
The bungled police reports about the suspects’ AIDS status has helped spread the controversy all the way to Hollywood. Sharon Stone is preparing to host a major fund-raiser in Dubai on December 10 for the Foundation for AIDS Research, or amfAR, for which she heads global fund-raising. The event will be part of the Dubai International Film Festival, and Stone’s trip to Dubai has garnered major coverage in Dubai’s Gulf News daily. On Friday evening, as TIME met Véronique Robert in a Paris café, amfAR’s organizers in Manhattan called her to express concern about Alexandre’s alleged attack and ask what she wanted them to do about the Dubai event. The organization’s chief executive officer, Kevin Frost, says has not ruled out canceling the fund-raiser — whose tables are selling for between $20,000 and $100,000 each. But he said amfAR sees the event as “an opportunity to raise awareness about AIDS in a part of the world where there’s an incredible amount of denial about the issue.” Véronique Robert says she hopes the organization will speak about her son’s attack during its high-profile event. For Dubai, accustomed to glowing articles about its astonishing growth and impressive architecture, that would indeed be rare — and unsettling — publicity.