The World is sinking!

Old Jan 21st 2011, 1:35 am
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Default The World is sinking!

Is it?

http://www.telegraph.co.uk/news/worl...o-the-sea.html
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Old Jan 21st 2011, 2:20 am
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Default Re: The World is sinking!

Although the story is dated as recent, an article similar to this was posted in British newspapers at least 6 months ago, along with satellite images to show the deterioration.

I guess it turning into a folly to excess.

Some of the other stories which can be accessed from the sidebar are also pretty interesting. (I didn't know about the 2 hour alcohol ban in Sports Bars and British bars in the UAE).
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Old Jan 21st 2011, 2:47 am
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Default Re: The World is sinking!

Originally Posted by Victor Meldrew View Post
Although the story is dated as recent, an article similar to this was posted in British newspapers at least 6 months ago, along with satellite images to show the deterioration.

I guess it turning into a folly to excess.

Some of the other stories which can be accessed from the sidebar are also pretty interesting. (I didn't know about the 2 hour alcohol ban in Sports Bars and British bars in the UAE).
that's torygraph for you

recycling old news
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Old Jan 21st 2011, 3:14 am
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Default Re: The World is sinking!

Originally Posted by Victor Meldrew View Post
Although the story is dated as recent, an article similar to this was posted in British newspapers at least 6 months ago, along with satellite images to show the deterioration.

I guess it turning into a folly to excess.

Some of the other stories which can be accessed from the sidebar are also pretty interesting. (I didn't know about the 2 hour alcohol ban in Sports Bars and British bars in the UAE).
The 2 hour ban's been in force for nearly a year , Bars have lost a lot because of premium sports coverage within that ban time 4.00pm - 6.00pm

Just another nail in the coffin....they'll never learn
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Old Jan 21st 2011, 3:18 am
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Default Re: The World is sinking!

Originally Posted by alfrombarking View Post
The projects been dead for 2 years , it will never see the light of day , constructon and operations costs don't add up , never did. One or Two Luxury hotel operators were looking at it but it's finished.

Vanity in it's highest form......
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Old Jan 21st 2011, 4:58 am
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Default Re: The World is sinking!

You think that's bad?

A friend of mine who has.... er.... close contacts in both government and the construction business tells me The Palm Jumeirah is being - albeit slowly - washed away............
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Old Jan 21st 2011, 10:47 am
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Default Re: The World is sinking!

Originally Posted by co durham boy View Post
The projects been dead for 2 years , it will never see the light of day , constructon and operations costs don't add up , never did. One or Two Luxury hotel operators were looking at it but it's finished
is that deffo for real? I thought somebody was already building a resort on one of the islands but it was turning out to be much more expensive than they ever expected just to get the materials and equipment out there?
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Old Jan 21st 2011, 11:28 am
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Default Re: The World is sinking!

Originally Posted by Bungdit Din View Post
is that deffo for real? I thought somebody was already building a resort on one of the islands but it was turning out to be much more expensive than they ever expected just to get the materials and equipment out there?
I heard it was The One and Only Group , not to sure how far they're on , maybe work on one more by a German developer.

The projects dead just like all the other off shore projects , The Waterfront , Palm Jebel Ali , Palm Deira. It's the running cost and operations that's the killer , Desalination , power , transport etc , etc .

Criminal really....well yeah it actually was because the duped the whole world....!
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Old Jan 21st 2011, 1:08 pm
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Default Re: The World is sinking!

Most people have completely forgotten about the Palm Deira because they think it was never built or barely started. It's true the fronds and trunk were never built but the base was - and it's a huge land area that is much larger than Deira itself.

What Dubai will ever do with this huge plot of land sitting just off Deira, I have no idea. Billions was spent on it. The original plans for the Palm Deira had over a million people living on it, which gives you an idea as to its planned scale. Seems completely laughable now, doesn't it?

Originally Posted by co durham boy View Post
I heard it was The One and Only Group , not to sure how far they're on , maybe work on one more by a German developer.

The projects dead just like all the other off shore projects , The Waterfront , Palm Jebel Ali , Palm Deira. It's the running cost and operations that's the killer , Desalination , power , transport etc , etc .

Criminal really....well yeah it actually was because the duped the whole world....!
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Old Jan 21st 2011, 1:13 pm
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Default Re: The World is sinking!

Originally Posted by Ethos83 View Post
Most people have completely forgotten about the Palm Deira because they think it was never built or barely started. It's true the fronds and trunk were never built but the base was - and it's a huge land area that is much larger than Deira itself. What Dubai will ever do with this huge plot of land sitting just off Deira, I have no idea. Billions was spent on it. The original plans for the Palm Deira had over a million people living on it, which gives you an idea as to its planned scale. Seems completely laughable now, doesn't it?
My job has taken me on to both Palms Deira and Jebel Ali. Both are quite amazing feats of engineering but completely wasteful economically speaking. Maybe they can turn one into an off-shore airstrip?
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Old Jan 21st 2011, 1:48 pm
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Default Re: The World is sinking!

Originally Posted by Ethos83 View Post
Most people have completely forgotten about the Palm Deira because they think it was never built or barely started. It's true the fronds and trunk were never built but the base was - and it's a huge land area that is much larger than Deira itself.

What Dubai will ever do with this huge plot of land sitting just off Deira, I have no idea. Billions was spent on it. The original plans for the Palm Deira had over a million people living on it, which gives you an idea as to its planned scale. Seems completely laughable now, doesn't it?
The Waterfront has more reclaimed land than Hong Kong Island . Even Palm Jumeirah isn't anyway finished.

On my last project in Dubai we did some extensive civils work in 2006 on the Palm , the company have just received a payment for that work and took a 40% haircut on the total sum.

It's unbelievable what's happened to these projects , any company in the industry will tell you that they'd rather not work than take work in Dubai. It's a bad egg construction wise , the only people who got paid were the dredging teams......and Nahkeel..
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Old Jan 21st 2011, 6:36 pm
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Default Re: The World is sinking!

I might be sounding naive here but are the offshore projects really all dead, as in the investors will 100% definitely never see the properties they bought off-plan on the other Palms and the Waterfront?

Before you ask, I didn't invest

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Old Jan 21st 2011, 8:52 pm
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Default Re: The World is sinking!

Originally Posted by co durham boy View Post
The Waterfront has more reclaimed land than Hong Kong Island . Even Palm Jumeirah isn't anyway finished.

On my last project in Dubai we did some extensive civils work in 2006 on the Palm , the company have just received a payment for that work and took a 40% haircut on the total sum.

It's unbelievable what's happened to these projects , any company in the industry will tell you that they'd rather not work than take work in Dubai. It's a bad egg construction wise , the only people who got paid were the dredging teams......and Nahkeel..
So it isn't just the guys at the very bottom (Asian labourers) who are getting stiffed.
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Old Jan 22nd 2011, 3:57 am
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Default Re: The World is sinking!

Originally Posted by Bungdit Din View Post
I might be sounding naive here but are the offshore projects really all dead, as in the investors will 100% definitely never see the properties they bought off-plan on the other Palms and the Waterfront?

Before you ask, I didn't invest
as far as I know they've completely shut up shop. Nakheel are only continuing a few projects to completion and to be honest, as a masterplan, Dubai would do better to concentrate on filling up the gaps in its on-shore built area before building more off-shore. Waterfront was the same as Palm Deira - aiming to house a million people, so that'd mean tripling Dubai's current population size... and there just aren't the economic drivers for that.

I think this year, RERA are going to officially announce the cancellation of about 200 projects (read that somewhere), which is big, because it'll mean developers have to compensate their investors... which will be interesting to say the least, considering the scale of investment and the fact they have no cash. Private investors will be lucky to get anything, and will certainly be asked to take a hit.
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Old Jan 22nd 2011, 8:31 am
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Default Re: The World is sinking!

Some two and a half years ago I had some dealings with an architect who was working on the Waterfront project. As it was so huge I asked him who was supposed to live there and did the developers really believe there would be enough people for it to be viable.

He said that the belief behind it was simply (& breathtakingly arrogantly) - if we build it they will come.
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