Six months after the UAE made headlines with plans to offer a three-year visa to property buyers, the property industry's excitement over the proposal has turned into uncertainty and pessimism. There have been no official statements about specifics of the law since the initial announcement. The National: Confusion mars property visa law Fee defaulters named & shamed Owner associations that have taken control of some of Dubai’s residential buildings are threatening to cut off essential services to buyers that default on their annual service fees. Horizon Tower in Dubai Marina has warned owners it will disconnect air-conditioning to flats with unpaid maintenance fees and names of all 34 non-payers, who individually owe amounts ranging from AED7,151.50 up to AED144,596, were posted in the building's reception area. Arabianbusiness.com: Homeowners take tough line on service fee defaulters Golden Mile residents facing further power cuts The prospect of power cuts onc
e again looms over hundreds of Golden Mile residents. A strong message sent to around 600 residents on December 11 by community management Novus said they could expect power cuts to recur if they don't pay their service charges. Gulf News: Golden Mile residents' troubles not yet over UAE cancelled projects valued at $190bn The total value of cancelled projects in the UAE reached $191 billion until October, adding $20 billion since September, while the total value of delayed projects touched $767 billion, a Citi report said. Emirates 24|7: Cancelled projects in UAE top $190bn: Citi Is China heading for a Dubai-style crash? The spectacular real estate boom is over in China with new home prices in Beijing crashing by 35 per cent last month and the growth of M2 money supply dropping to its lowest in a decade. All real estate booms end this way. Arabianmoney: Chinese real estate bubble pops just like Dubai three years ago
