Tuesday, April 18, 2006

In Excess

The Lagoons is the latest property offering in the land of excess which is 'strategically located' in the 'heart of Dubai' aimed at 'a self-sustainable community' providing 'lush greenery' and 'tranquil waterfront' where 'nature may flourish' and 'encourage modern living'. Enough cliches to choke you to death.

Every development in every seemingly uninhabitable part of the city trumpets such adjectives through glossy brochures and hyper expensive 3-d renderings and animations. Every apartment, every villa, every bedroom features 'luxury at it's best' if they are to be believed - never mind some hapless residents in Dubai Marina who paid an astonishingly high price only to look out from congested apartments to noisy neighbouring airconditioners in the balcony and some Emaar 'green-communities' turning to 'water-logged communities'.

The lack of proper regulations and guidelines in a comparitively immature Dubai real-estate market has meant that for every high-class development executed with proper planning, there are 100 developments coming up which are over-hyped, makes no business sense or doesnt meet any requirements and makes a variety of false claims.

No wonder, some investors view Dubai with suspicion. With promises like these, they have to think 10 times to see if the projects are for real.

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