Qatar, RE very strong, but you cannot buy it. Only rent.
That's a disappointment. I have been reviewing the planned infrastructure spending in Doha in the near term. It is a phenomenal budget and my company only want a small slice of it. We are going to put a manager in country and after reading about the net worth of it's residents and knowing how much is going to be spent up there, I was toying with the idea of volunteering for the role. But if you cant buy houses then that is a major negative for me.
I just came back from Qatar after spending another week there. Unless it tickle your fancy, it's is not a pleasant place to leave. In the way, that lifestatyle is very different. I am not talking about 38C winter temperatures but outside world instead. All life is really indoors. Go out, and its sand and concrete.
On the positive note, crime is basically zero. You can leave you car running with the key in ignition and valuables inside and go shopping for 2 hours. When you came back, the AC keep the car cool and no one would touch it. You can leave your mobile/wallet on the table in the coffee shop and go to the bathroom. When back, it's where you left it. Extraordinary experience!
Real Estate there is interesting topic. A lot of it build, all to high specification by the regional standard. Prices are high and vacancy low. I do not know a way to own RE in Qatar, law say only Qatary can own the land. Maybe you can purchase apartment without the right of land? You will need to investigate.
They are preparing for FIFA 2020 I think. They will do what ever it takes to get the contract. The proposed expenditure on infrastructure and related services is extraordinary. They are budgeting to build a bridge for example, 50 km long. They are already opened up areas to practice alternative religions, sell pork and alcohol in selected places.
Surely it cant be any worse than the Cooper Basin?
They have the World Cup in the bag and the expenditure has been committed as far as we can see. We are already up in Kuwait and UAE so have some understanding of the local conditions. We have also just yesterday signed a JV with a local company that one of the family has ownership in. So that's a good start and hopefully we will start winning some work next year.
Aspirations for moving there were a little tongue and cheek and salivating about the money that is sloshing around. Besides my missus would kill me if we upped sticks and relocated again. If I was earning up there I wouldn't be able to negative gear so another reason not to go. We should be able of get someone from the UK or Ireland to manage the operation far cheaper that an Aussie expat would cost anyway.
Well Bardon if Europe's anything to go by we may not have long to wait. Like I was telling JP, I can't find good news anywhere. Quite the contrary I'm afraid.
Logistics in WA just stopped as of late. We're all scratching our heads wondering what just happened after a fairly steady few months. It'll be wait and see over the next week or 2. OK for us we're committed for the next 3 – 4 weeks but pricing is weak and margins are being squeezed.
Removal Co's are seeing a reverse trend as staff are moved back to Perth. Not huge but a change in trend. Royal Wolf is demobing containers from all over WA back to base storage. Storage is a problem actually. Same story with equipment rental mobs.
Yes its all pretty boring at the moment. All we have is dropping ineterest rates and strong rents which mean reduced holding costs or more cash available. Seems to be that when prices are shooting up rents are stable, when prices stagnate rents then shoot up.
Well Bardon if Europe's anything to go by we may not have long to wait.
I wont have long to wait at all with Europe. I will be in a nice boutique hotel in Old Rome right on the south bank of the Tiber and immediately across from the Castle St Angelo on the 4th December 12. Then of to a converted convent in Venice and then a hotel right in the middle of the old city of Munich. After that going up market a bit and staying in a hotel at Place Vendome in the 1st Arrondissement section of Paris followed by a Eurostar to London it only takes two hours from central Paris to central London on my birthday, which is fecking unbelievable in my books. So all in all I am looking forward to seeing first hand how tough they are doing it and capitalising on my strong AUD.
The only set back is that when I was showing my mate that my hotel in Paris was only two mins walking distance to Bar Hemingway on google maps, i clicked on it, only to find that it is closed for a major reno. I guess you have to take the good with the bad in life and I will just have to make up for that massive loss of amenity in another way.
Wife was in Rome last year with our daughter-in-law (Maltese), her mum and my wife's friend. Rome is horrendously expensive as is much of Europe. If your going with your wife she'll love the clothing stores. The quality of their clothing makes ours look like rags. And according to the wife very reasonably priced given the quality.
The downside is that Rome retailing is struggling;
AGENCE FRANCE PRESSE
Wednesday 15 August 2012
“The sales have not gone well,” said clothes shop manager Fabio Anticoli. While the eternal city usually draws tourists from all over the world who spend their cash on Italian designs, “this year, it’s an impoverished tourism.” The sales have gone “very badly” compared with 2011 according to the shopkeepers’ association Confesercenti, which reports a 20 percent drop in turnover in central Rome, a figure that rises to 40 percent in outer suburbs.