Go Back  British Expats > Living & Moving Abroad > Middle East
Reload this Page >

Emaar's most ambitious project yet??

Emaar's most ambitious project yet??

Old Jul 24th 2005, 5:47 am
  #1  
W10
Guest
 
Posts: n/a
Default Emaar's most ambitious project yet??

http://www.gulfnews.com/Articles/Bus...ticleID=174247

Who fancies living in Umm Al Quwain?

Isn't this a bit of a risk to be taking with the rights issue cash? Although I presume someone has done some serious research which suggests people are just clamouring to move into a mega project in UAQ.
 
Old Jul 24th 2005, 5:51 am
  #2  
MJC
Lost in BE Cyberspace
 
MJC's Avatar
 
Joined: Feb 2005
Posts: 6,596
MJC has a reputation beyond reputeMJC has a reputation beyond reputeMJC has a reputation beyond reputeMJC has a reputation beyond reputeMJC has a reputation beyond reputeMJC has a reputation beyond reputeMJC has a reputation beyond reputeMJC has a reputation beyond reputeMJC has a reputation beyond reputeMJC has a reputation beyond reputeMJC has a reputation beyond repute
Default Re: Emaar's most ambitious project yet??

I think the words Jump and bandwagon come to mind...

Originally Posted by W10
http://www.gulfnews.com/Articles/Bus...ticleID=174247

Who fancies living in Umm Al Quwain?

Isn't this a bit of a risk to be taking with the rights issue cash? Although I presume someone has done some serious research which suggests people are just clamouring to move into a mega project in UAQ.
MJC is offline  
Old Jul 24th 2005, 5:59 am
  #3  
W10
Guest
 
Posts: n/a
Default Re: Emaar's most ambitious project yet??

I'll be interested to see how the market reacts (well I won't really but this is the kind of thing you're supposed to say, right?)

Seriously though. Emaar stock fell by 5% the other day when they announced quarterly profits of Dh(insert ludicrous figure here), wonder what will happen today.
 
Old Jul 24th 2005, 6:40 am
  #4  
W10
Guest
 
Posts: n/a
Default Re: Emaar's most ambitious project yet??

http://www.7days.ae/feature/new-beginning.html

7days getting at another decent angle in the story again.
 
Old Jul 24th 2005, 6:50 am
  #5  
TA5
Banned (Always Correct)
 
TA5's Avatar
 
Joined: Aug 2004
Posts: 941
TA5 has a reputation beyond reputeTA5 has a reputation beyond reputeTA5 has a reputation beyond reputeTA5 has a reputation beyond reputeTA5 has a reputation beyond reputeTA5 has a reputation beyond reputeTA5 has a reputation beyond reputeTA5 has a reputation beyond reputeTA5 has a reputation beyond reputeTA5 has a reputation beyond reputeTA5 has a reputation beyond repute
Default Re: Emaar's most ambitious project yet??

Originally Posted by Gulf Propaganda[News
]Work on the Marina, which will transform the emirate and the property market, is expected to begin in about three months, with the sales of the residences opening soon after, the officials said.
I think this pretty much sums up the problem with the UAE property market. They expect construction to transform their market, and think that by building more they are developing a 'market'.

In the real world, markets dictate construction and growth, not the other way around...

Sitting on a bag of cash waiting for the big crash.
TA5 is offline  
Old Jul 24th 2005, 7:13 am
  #6  
BE Enthusiast
 
Border Reiver's Avatar
 
Joined: Jan 2005
Location: Dubai
Posts: 888
Border Reiver has a reputation beyond reputeBorder Reiver has a reputation beyond reputeBorder Reiver has a reputation beyond reputeBorder Reiver has a reputation beyond reputeBorder Reiver has a reputation beyond reputeBorder Reiver has a reputation beyond reputeBorder Reiver has a reputation beyond reputeBorder Reiver has a reputation beyond reputeBorder Reiver has a reputation beyond reputeBorder Reiver has a reputation beyond reputeBorder Reiver has a reputation beyond repute
Default Re: Emaar's most ambitious project yet??

As regular readers will know, I'm pretty positive about the property market in Dubai. Dubai has the transport links, the marketing, the hotels and for want of a better expression the "brand". Most people I speak to in the UK have heard of Dubai and recognise it as a holiday destination or even a place for a second home.

UAQ, I'll bet, nobody has ever heard of and this is quite an ambitious starter project. It might work, but it will have to be signifigantly cheaper than Dubai and very well marketed. With backing from the Saudis and the UAQ government they are unlikely to run out of money. As MJC says, there is definitely a bandwagon rolling along here.
Border Reiver is offline  
Old Jul 24th 2005, 7:21 am
  #7  
The Oracle
 
Face81's Avatar
 
Joined: Sep 2004
Location: London, United Kingdom
Posts: 7,220
Face81 is a glorious beacon of lightFace81 is a glorious beacon of lightFace81 is a glorious beacon of lightFace81 is a glorious beacon of lightFace81 is a glorious beacon of lightFace81 is a glorious beacon of lightFace81 is a glorious beacon of lightFace81 is a glorious beacon of lightFace81 is a glorious beacon of lightFace81 is a glorious beacon of lightFace81 is a glorious beacon of light
Default Re: Emaar's most ambitious project yet??

As far as I know, this is all part of a bigger master plan, that Sheikh you know who, has.... its some sort of agreement with the crown princes of all the emirates to follow in the footsteps of Dubai. The ultimate goal is to turn the U.A.E into a tourist destination.....

I'd say places like Fujeirah and Hatta have managed to achieve this with some degree of success, as tourists visiting Las Dubai often opt for a get away in the mountains....

And as a young country, it is only natural that it develops, of course this development is un natural and as TA5 pointed out, goes against normal market forces, but it has worked so far......

If u build it, they will come.
Face81 is offline  
Old Jul 24th 2005, 7:25 am
  #8  
W10
Guest
 
Posts: n/a
Default Re: Emaar's most ambitious project yet??

My favourite bit of the story is this:

"Mohammad Ali Al Abbar, EME chairman, said the location was selected because it was an unspoiled haven of natural beauty."

Everywhere else in the world this is a the primary reason why you WOULDN'T build an enormous concrete developement there. Not in the UAE
 
Old Jul 24th 2005, 7:42 am
  #9  
The Oracle
 
Face81's Avatar
 
Joined: Sep 2004
Location: London, United Kingdom
Posts: 7,220
Face81 is a glorious beacon of lightFace81 is a glorious beacon of lightFace81 is a glorious beacon of lightFace81 is a glorious beacon of lightFace81 is a glorious beacon of lightFace81 is a glorious beacon of lightFace81 is a glorious beacon of lightFace81 is a glorious beacon of lightFace81 is a glorious beacon of lightFace81 is a glorious beacon of lightFace81 is a glorious beacon of light
Default Re: Emaar's most ambitious project yet??

Originally Posted by W10
My favourite bit of the story is this:

"Mohammad Ali Al Abbar, EME chairman, said the location was selected because it was an unspoiled haven of natural beauty."

Everywhere else in the world this is a the primary reason why you WOULDN'T build an enormous concrete developement there. Not in the UAE
Exactly what I thought.....

After wrecking Dubai's coast, this time it is EMAAR and not Nakheel that will attempt to "transform" UAQ.

The one good thing about the development is that there will be no skyscrapers from what I can tell..... it consists of low rise buildings only. I guess that is some consellation.
Face81 is offline  
Old Jul 24th 2005, 8:30 am
  #10  
Loading...
 
Welivehere's Avatar
 
Joined: Oct 2004
Location: Back in the sand
Posts: 1,279
Welivehere has a reputation beyond reputeWelivehere has a reputation beyond reputeWelivehere has a reputation beyond reputeWelivehere has a reputation beyond reputeWelivehere has a reputation beyond reputeWelivehere has a reputation beyond reputeWelivehere has a reputation beyond reputeWelivehere has a reputation beyond reputeWelivehere has a reputation beyond reputeWelivehere has a reputation beyond reputeWelivehere has a reputation beyond repute
Default Re: Emaar's most ambitious project yet??

If things carry on at this rate we are going to end up with the coast line as one huge Emirate.

You already have:

Abu Dhabi pushing commercial development up as far a Jebel Ali
The borders of Sharjah and Dubai are almost indefinable,
The borders of Sharjah and Ajman are becoming blurred
This announced development for UAQ (which will pretty much link Ajman and UAQ)
The huge them park they are planning for RAK (150,000 visitors a day??? , which is more than Disneyland)

Soon the only natural coastline will be that which is just not ecomomically viable to build on...
Welivehere is offline  

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Contact Us - Archive - Advertising - Cookie Policy - Privacy Statement - Terms of Service -

Copyright © 2024 MH Sub I, LLC dba Internet Brands. All rights reserved. Use of this site indicates your consent to the Terms of Use.