RUMORS!

Those who see the press about Dubai only see what the media presents. In a fast paced city like Dubai where decisions are made by a small group and things happen quickly, sometimes truth is stranger than fiction so no rumors are to be discounted immediately. Some recent ones – we’ll see what comes true – some already are in the making…

Rumor has it that His Highness Sheikh Mohammed bin Rashid Al Maktoum, Ruler of Dubai (sometimes affectionately referred to by his subjects as Sheikh Mo) recently flew over the newly constructed Dubai Metro in his helicopter. As he surveyed the lines he exclaimed, "This is an eyesore! It looks like a rollercoaster! You have 5 years to get this moved into a bore hole under the desert!"

Rumor has it that the bid requests are on the street.

http://www.worldarchitecturenews.com/index.php?fuseaction=wanappln.projectview&upload_id=2069

Arabian Ranches is an exclusive ex-pat residential development "steeped in the beauty and mystery of the desert" offering golf course and lake front homesites. Rumor has it, the developer, Emeer, has filled in the lake and plans further construction on that site. Homeowners who complained that they paid a premium for water front properties were reminded they were "guests" in the UAE.

http://en.wikipedia.org/wiki/Arabian_Ranches

Land next to Dubai Marina has become so valuable that rumor has it that DUBAL (Dubai’s industrial flagship and the largest single site aluminum smelter in the western world) and the adjacent power plants are being relocated out into the desert so that the current site adjacent to the marina can be developed. One can only guess that first the real estate along the Arabian Canal will be developed and sold as prime waterfront property. Then it will become the Arabian INDUSTRIAL Canal and used to ship aluminum from the DUBAL desert site to the sea.

http://www.dubal.ae/
http://realestate.theemiratesnetwork.com/developments/dubai/dubai_waterfront.php

Much of Dubai real estate has been purchased by Saudi's as Sharia (Islamic law) compliant investments. The owners have no intention of living in or renting out the properties, but plan to hold and later sell based on the growth of property value like gold or any other commodity. Rumor has it that very few Jumeriah Beach Residence properties are occupied or are even up for lease.