http://thethrottle.thechive.com/2011/01/19/abandon-cars-all-ye-who-enter-dubai-35-photos/ :|
Abandoned cars in Dubai
- Thread starter trottski101
- Start date
Randomly this is true, I was out there in March this year and there are some cracking cars apparently abandoned and lonely 
I'm sure AlanJ will agree, his home flag was UAE for a while.
I'm sure AlanJ will agree, his home flag was UAE for a while.
Liverpool
Saw it happening a bit when I left in late 2008.
Some of my colleagues were just abandoning them when they were told they no longer had a job, as they were either leased or bought on finance, and they wanted to get out of the area ASAP to avoid being jailed for not paying their debts.
I was lucky in a way as I was a contractor and only expected to be there as long as was needed, so didn't put down any roots. But some colleagues had sold up in the UK, moved their whole family out to Dubai/Abu Dhabi, paid deposits on expensive apartments, and then 3 months later it all went tits up and they couldn't keep up the payments on the apartment without their tax-free (and 30% better than UK) income(s).
One week there'd be 2 cars in the car park with lots of 'dust' on them, the following week there'd be another couple, and after about 12 weeks (when I came home) there were about 20 in our office car park that seemed to have been abandoned. Plus there were the load that were left in airport parking too.
The 'worst' thing our group of contractors (short-termers) did was sign a 3 month serviced apartment contract and then cancel about a week later when we were told it was over (for the time being), and that was nearly 3 years ago, and it hasn't picked up over there yet, and some of the bigger contracts that were keeping some of my colleagues busy have also finished (Al Raha Beach / Yas Marina F1 Circuit and Burj Dubai to name a couple).
Some of my colleagues were just abandoning them when they were told they no longer had a job, as they were either leased or bought on finance, and they wanted to get out of the area ASAP to avoid being jailed for not paying their debts.
I was lucky in a way as I was a contractor and only expected to be there as long as was needed, so didn't put down any roots. But some colleagues had sold up in the UK, moved their whole family out to Dubai/Abu Dhabi, paid deposits on expensive apartments, and then 3 months later it all went tits up and they couldn't keep up the payments on the apartment without their tax-free (and 30% better than UK) income(s).
One week there'd be 2 cars in the car park with lots of 'dust' on them, the following week there'd be another couple, and after about 12 weeks (when I came home) there were about 20 in our office car park that seemed to have been abandoned. Plus there were the load that were left in airport parking too.
The 'worst' thing our group of contractors (short-termers) did was sign a 3 month serviced apartment contract and then cancel about a week later when we were told it was over (for the time being), and that was nearly 3 years ago, and it hasn't picked up over there yet, and some of the bigger contracts that were keeping some of my colleagues busy have also finished (Al Raha Beach / Yas Marina F1 Circuit and Burj Dubai to name a couple).
Its shocking. Not just the cars being abandoned but more importunately, people loosing their jobs and homes too.
Im wondering, what if anything can be done to salvage these cars? I think I will go over and do some looting :wink:
Im wondering, what if anything can be done to salvage these cars? I think I will go over and do some looting :wink:
mmm-five said:
Yes, I've been to Dubai before. Maybe I wont go over and start looting after all. :-?
Lol, I heard they chop your hands off for theft !!
Liam-O said:
Good question.
An interesting read:
For many expatriate workers in Dubai it was the ultimate symbol of their tax-free wealth: a luxurious car that few could have afforded on the money they earned at home. Now, faced with crippling debts as a result of their high living and Dubai’s fading fortunes, many expatriates are abandoning their cars at the airport and fleeing home rather than risk jail for defaulting on loans.
Police have found more than 3,000 cars outside Dubai’s international airport in recent months. Most of the cars – four-wheel drives, saloons and “a few” Mercedes – had keys left in the ignition. Some had used-to-the-limit credit cards in the glove box. Others had notes of apology attached to the windscreen. “Every day we find more and more cars,” said one senior airport security official, who did not want to be named. “Christmas was the worst – we found more than two dozen on a single day.”
When the market collapsed and the emirate’s once-booming economy started to slow down, many expatriates were left owning several homes and unable to pay the mortgages without credit. “There were a lot of people living the high life, investing in real estate and a lifestyle they couldn’t afford,” one senior banker said. Under Sharia, which prevails in Dubai, the punishment for defaulting on a debt is severe. Bouncing a check, for example, is punishable with jail. Those who flee the emirate are known as skips.
The abandoned cars underscore a worrying trend. Five years ago the Emir, Sheikh Mohammed bin Rashid Al Maktoum, embarked on an ambitious plan to transform Dubai into a hub for business and tourism. A building boom fuelled double-digit growth, with thousands of Westerners arriving every day, eager to cash in on the emirate’s promise of easy living and wealth.
Many Westerners invested in Dubai’s skyrocketing real estate market, buying and reselling homes before building was even complete. But, as the recession took effect, property and financial companies made thousands of workers redundant and banks tightened lending. Construction companies have delayed or cancelled projects and tourism is slowing.
There are increasing signs that the foreigners who once flocked to Dubai are leaving. “There is no way of tracking actual numbers, but the anecdotal evidence is overwhelming. Dubai is emptying out,” said a Western diplomat.
International schools are having to be flexible on fees as expatriate parents run out of cash. Louise, a single mother from Britain, said that her son’s school had allowed her to pay a partial fee until she found a new job after her redundancy in December. “According to the headmaster, a lot of people had come into the school saying they had lost their jobs so the school was trying to be a bit more flexible,” she said.
Most of the emirate’s banks are not affiliated with British financial institutions, so those who flee do not have to worry about creditors. Their abandoned cars are eventually sold off by the banks at weekly auctions. Those recently advertised include BMWs, Porsches and Mercedes.
Simon Goldsmith, a spokesman for the British Embassy in Dubai, said that that there were approximately 100,000 Britons living in Dubai last year. However, the embassy has no way of tracking how many have fled back to the UK. “We’ve heard stories, but when somebody makes that kind of decision, they generally keep it to themselves,” he said.
Police have issued warrants against owners of the deserted cars. Those who return risk arrest at the airport.
Heading home
3.62 million expatriates in Dubai
864,000 nationals
8% population decline predicted this year, as expatriates leave
1,500 visas cancelled every day in Dubai
62% of homes occupied by expatriates 60% fall in property values predicted
50% slump in the price of luxury apartments on Palm Jumeirah
25% reduction in luxury spending among UAE expatriates
For many expatriate workers in Dubai it was the ultimate symbol of their tax-free wealth: a luxurious car that few could have afforded on the money they earned at home. Now, faced with crippling debts as a result of their high living and Dubai’s fading fortunes, many expatriates are abandoning their cars at the airport and fleeing home rather than risk jail for defaulting on loans.
Police have found more than 3,000 cars outside Dubai’s international airport in recent months. Most of the cars – four-wheel drives, saloons and “a few” Mercedes – had keys left in the ignition. Some had used-to-the-limit credit cards in the glove box. Others had notes of apology attached to the windscreen. “Every day we find more and more cars,” said one senior airport security official, who did not want to be named. “Christmas was the worst – we found more than two dozen on a single day.”
When the market collapsed and the emirate’s once-booming economy started to slow down, many expatriates were left owning several homes and unable to pay the mortgages without credit. “There were a lot of people living the high life, investing in real estate and a lifestyle they couldn’t afford,” one senior banker said. Under Sharia, which prevails in Dubai, the punishment for defaulting on a debt is severe. Bouncing a check, for example, is punishable with jail. Those who flee the emirate are known as skips.
The abandoned cars underscore a worrying trend. Five years ago the Emir, Sheikh Mohammed bin Rashid Al Maktoum, embarked on an ambitious plan to transform Dubai into a hub for business and tourism. A building boom fuelled double-digit growth, with thousands of Westerners arriving every day, eager to cash in on the emirate’s promise of easy living and wealth.
Many Westerners invested in Dubai’s skyrocketing real estate market, buying and reselling homes before building was even complete. But, as the recession took effect, property and financial companies made thousands of workers redundant and banks tightened lending. Construction companies have delayed or cancelled projects and tourism is slowing.
There are increasing signs that the foreigners who once flocked to Dubai are leaving. “There is no way of tracking actual numbers, but the anecdotal evidence is overwhelming. Dubai is emptying out,” said a Western diplomat.
International schools are having to be flexible on fees as expatriate parents run out of cash. Louise, a single mother from Britain, said that her son’s school had allowed her to pay a partial fee until she found a new job after her redundancy in December. “According to the headmaster, a lot of people had come into the school saying they had lost their jobs so the school was trying to be a bit more flexible,” she said.
Most of the emirate’s banks are not affiliated with British financial institutions, so those who flee do not have to worry about creditors. Their abandoned cars are eventually sold off by the banks at weekly auctions. Those recently advertised include BMWs, Porsches and Mercedes.
Simon Goldsmith, a spokesman for the British Embassy in Dubai, said that that there were approximately 100,000 Britons living in Dubai last year. However, the embassy has no way of tracking how many have fled back to the UK. “We’ve heard stories, but when somebody makes that kind of decision, they generally keep it to themselves,” he said.
Police have issued warrants against owners of the deserted cars. Those who return risk arrest at the airport.
Heading home
3.62 million expatriates in Dubai
864,000 nationals
8% population decline predicted this year, as expatriates leave
1,500 visas cancelled every day in Dubai
62% of homes occupied by expatriates 60% fall in property values predicted
50% slump in the price of luxury apartments on Palm Jumeirah
25% reduction in luxury spending among UAE expatriates