yes, this is what dubai really needs
diversification of its economy
step by step and hopefully soon big and stable enought to challenge and relieve the real estate business!

SOURCE (http://www.albayan.ae/servlet/Satellite?cid=1127635765585&pagename=Albayan%2FArticle%2FFullDetail&c=Article)

Can't understand anything but this is good :)

http://www.albayan.ae/servlet/Satellite?blobcol=urllowres&blobheader=image%

Bollocks, the image won't show

SOURCE (http://www.albayan.ae/servlet/Satellite?cid=1127635765585&pagename=Albayan%2FArticle%2FFullDetail&c=Article)

great rendering! and what's that tallest tower, could be nearly 400m :runaway:

hmmh, now when I look it closer it seems to be just a fat building and emirates tower behind it :sleepy:

I dont see a 400 meter tower :D r u talking about the emirates towers in the backround :D ;)

yea... how disappointing... :(

Quick translation:

The total amount of foreign and local investment in 10 DIFC projects is AED 27 billion, inluding 15 billion which the Dubai government is spending on development of the underlying infrastructure.

70 employees are directing organisation of the projects overall. DIFC is considered one of the most modern financial centres in the world. Work on the project started officially on September 20, 2004.

Then it lists all current projects in DIFC with some details on them, including this newly proposed twin towers with Diar.

It says "Kenzler" is consulting them on these towers. Each tower has an area of 600,000 sq ft, and the project has an extra 150,000 sq ft of space.

Other projects listed are Sky Gardens, Emirates Financial Towers, One Central Park, Ritz Carlton, Park Tower, Daman Tower (not sure if this has a different name in English), Liberty House, al-Fattan Tower..

There are details given on all the projects, although you probably have them already..

still if little render iseem odd anyone notice 5 things missing or changed ?
http://www.albayan.ae/servlet/Satellite?blobcol=urllowres&blobheader=image%2Fjpeg&blobkey=id&blobnocache=false&blobtable=CImage&blobwhere=1127635766958&cachecontrol=3%3A00%3A00+*%2F*%2F*&ssbinary=true

the tower by al fattan is new

it's on their website since ages and it looks like this

http://www.alfattan.com/images/difc.jpg

http://tinypic.com/e0io8w.jpg

looks very good. i would love to see a final render of DIFC...
but there is only one with ugly white blocks instead of towers.
what is the tower in front? the hexagon?

let's hope the hexagon will really be built
it's been quiet for about 9 months now and i'm afraid they have abandoned this one :(

does anyone of our arabic forumer have al bayan newspaper?

There is a big master plan for all the towers with names approved in DIFC.

does anyone of our arabic forumer have al bayan newspaper?

There is a big master plan for all the towers with names approved in DIFC.

Isn't available online? Do you want me to buy it and scan? I'm going out after sunset.

that would really be great and highly appreciated! :)
i think i speak in the name of everybody here?

course you do.
but doubt there is much more on that masterplan than we already know of.

Here's a scan of the masterplan.. I will translate and post other pictures of towers later..

http://tinypic.com/e0mkjo.jpg

wow that's actually a new one.
looks like some new towers in there.
great if you could post more information.

this is excellent :eek:
thank you very much samovar!!! :)
i'm so excited about the names and the pics

Here's a translation, although I'm not sure about this periphery part.. isn't it The Gate?

http://tinypic.com/e0mtes.jpg

http://tinypic.com/e0mvpz.jpg

1. Liberty House
Cost: AED 450 million
60 storey, commercial-residential
372 residential units
Completion: 2007

2. al-Fattan Towers
Cost: AED 450 million
Two towers, 50 storeys residential, 15 storeys offices
Completion: 2007

3. Sky Gardens
Cost: AED 500 million
47 storeys, residential (575 units)
Completion: 2007

4. Emirates Financial
Cost: AED 450 million
Two towers, residential-commercial, 26 storeys each
Completion: 2007

5. Name unspecified
Cost: AED 1.25 billion
Two towers, residential/commercial
50 storeys each
Completion: unspecified

6. Daman Towers
Cost: AED 1.26 billion
Three buildings, commercial-residential-hotel
Expected completion: 2008

very interesting
especially the new ones, #2 and #5

but liberty house only has 42, not 60 storeys

the hexagon plot is under study

http://tinypic.com/e0mz6g.jpg
http://tinypic.com/e0mzau.jpg

7. Park Towers
Cost: AED 600 million
Two towers, 30 storeys each, residential
Completion: 2008

8. The Ritz Carlton
Cost: AED 1.5 billion
18 storeys, hotel, 330 rooms
Completion: 2008

9. Park Lane Apts
Cost: AED 1.5 billion
Residential
Completion: 2008

10. One Central Park
Cost: AED 1.8 billion
80 storeys, commercial
Completion: 2008

and skygarden looks different..!


btw another parklane..!
open new threads D-L?

These are pictures that were in the paper.. sorry bad quality I dunno how to edit scanned images..

http://tinypic.com/e0n1o0.jpg

http://tinypic.com/e0n1u8.jpg

looking good.
the front one reminds me of jin mao..

Here are bigger ones of the towers you said are new or look different:

al-Fattan
http://tinypic.com/e0n2fo.jpg

Sky Gardens
http://tinypic.com/e0n2md.jpg

Dubai Holding/Diar
http://tinypic.com/e0n2no.jpg

thanks a lot.
after this render sky gardens is not on top of my fav tower list though...looks weird.

the dubai holding towers look amazing!

thx for the great scans samovar!

Great effort here , i know it took you a lot of time , much appreciated :D

PARK TOWERS LOOK nothing like they are ment to !!!

I think they've just got the colours wrong in the newspaper. That's why some of the towers look different.

#5 i think could be the new DWTC twin towers

park towers look totally the same trances,where is your point?

park towers look totally the same trances,where is your point?

I think he's talking about the second picture where there's a Jin Mao-like building.

amazing update. thanks a lot man.
DIFC is looking GOOD

what are they gonna do with the big empty space near al murooj complex?

btw i think this is worthy of an update on the world forum

there is a thread in world forumers already.we can add the images. i will do.

Dr Omar Bin Sulaiman, Director General of the Dubai International Financial Centre Authority (DIFCA) has been invited to sit on the 'Founding Board' of the IMD Business School, one of the world's most prestigious learning establishments for the development of leadership capabilities amongst business executives.

http://www.ameinfo.com/images/news/4/18314-omar.jpg

He is the first person from the GCC countries and the Arab world to attain this distinction.

Dr Omar Bin Sulaiman, DIFCA Director General said, 'IMD is one of the top five such institutions in the world and was rated the number one business school in Europe. I am not only pleased to accept this invitation, but also consider it a privilege to sit on the Foundation Board of IMD.

'I am committed to ensure that the Dubai is established as one of the world's leading business hub. This is a stepping stone in helping us create a knowledge economy for Dubai and the region in the larger picture. I look forward to a very fruitful relationship.'

Dr. Peter Lorange, President of IMD, said, 'I am thrilled to welcome Dr Omar to the foundation board. IMD will benefit from having him as a board member. Dubai today has come a long way from being just a trading port to a business hub of the region. I am sure we will gain valuable insights from Dr Omar.'

Based in Lausanne, Switzerland, The IMD Business School has over 50,000 alumni, mostly from medium to large corporations with an international orientation to their businesses. Many companies, having sent executives to IMD programmes go on to develop their relationships with the institute by becoming part of the wider IMD learning Network.

The IMD Learning Network is one of the world's most powerful learning and management networks comprised of 140 corporations. Member companies are typically leaders in their respective industries either globally, or within a regional context; or, are breakthrough innovators in their industry.

IMD was established in January 1990, as the successor to two previously independent business schools; IMI, founded in Geneva by Alcan in 1946, and IMEDE, founded in Lausanne in 1957 by Nestlé. Incorporated under the name "International Institute for Management Development," IMD, as the institution is known around the world, is a leading provider of Executive Education for large and medium size international businesses, and for individuals. IMD today delivers the best in "real world" learning to build global organizations and individual careers.

Many of the 55 full-time Faculty members, made up of 19 different nationalities, are recognized world authorities in their fields. They divide their time between teaching, carrying out research and acting as consultants to major companies in many industries. This ensures that they remain firmly on top of the latest developments in managerial practice. Faculty draws on this experience to create a particularly effective learning environment that is highly conducive to tackling critical issues facing businesses today.

IMD is truly international. Every year, some 5,500 executives, representing over 70 nationalities, attend more than 22 open-enrolment Executive Development Programs (including one year intensive MBA program) as well as around 100 company-specific Partnership Programs. They come from virtually every sector of service and manufacturing industries and range from young managers with a few years' experience to board members from major world-class corporations. English is the working language at IMD, though no single business approach or cultural background dominates.

:bash: please I want more pictures of complex please............................

maybe this is why not too much happened so far



DIFC property deals questioned

CONSTRUCTION CONFLICT? Many of the land deals in and around DIFC were the source of controversy.
Just days after Hay Davison released a damning account of his time at the DFSA, another past boss at the body has hit out at “insider” property deals, which he claims threatens to tarnish its image.

Speaking to Arabian Business, the former high-ranking official said: “We were never aware what was going on in terms of the actual land tenders, but there was a perception that there was a lot of insider dealing going on.

“We had no knowledge whether these rumours were true, false or indifferent, but it didn’t matter because it is all about perception and reputation in financial services, but no-one did anything about it,” the source added.

Hay Davison and former chief regulator Philip Thorpe were both controversially dismissed from their posts in June 2004. Neither has since given any official account of the events surrounding their respective departures.

But in a recently released article in EuroMoney magazine Hay Davison claimed he met with Anis Al Jallaf, the chairman of the DIFC in Rome in 2003 to explain to him that a conflict of interest was likely to arise over the awarding of DIFC land. Al Jallaf is also the chairman of Union Properties, one of the UAE’s biggest development firms.

“I particularly emphasised to [Al Jallaf] the difficulties with his own position as chairman of one of the largest property developers in Dubai, a company that would certainly wish to apply to develop a site in the DIFC,” Hay Davison wrote. “I pointed out that, because he could not place himself in the position of appearing to grant himself a licence to develop a site, he should proceed urgently to establish a separate land board with an independent chairman,” he added.

This became known to the media and the then chief executive of the DIFC, Naser Nabulsi’s reaction was “a frantic search for whoever had leaked the information”, wrote Hay Davison. “Nabulsi’s eye fell on Phillip Thorpe (the former chief executive), who was certainly not responsible.”

The former DIFC source told Arabian Business “even if everything regarding the property deals had been 100% above board, we were saying ‘if it’s looking bad — fix it’ but that didn’t happen.”

The source added: “I think whether it is true or not was proved by what happened subsequently, which was a lot of the deals were undone and the land was taken back by the executive office. This suggests that it wasn’t just a perception problem.”

Hay Davison wanted a principal feature of the FSA to be the unitary regulator, which would be a highly respected, internationally renowned individual having substantial experience in the regulation of financial services companies and global financial markets.

“The international stature of the regulator is a critical element in the inception of the DIFC, as the regulator will play an important role in establishing the credibility of the DIFC in the global financial community,” Hay Davison wrote.

DIFC is under the spotlight due to the opening of Dubai International Financial Exchange (DIFX) late last month and much of its success depends on how it is regulated. However, the former high-ranking DIFC official does not believe the culture has necessarily changed within the centre, despite the fact that the DFSA is now a fully independent statutory authority.

“The question is can you really make a culture change by putting some more words on a piece of paper? Do you really get a culture change by changing the legislation?” the source said. “In the case of Dubai, there’s a lot of ingrained behaviour traits and I think you have to look and say ‘has there been a fundamental change in the way Dubai does its business?’” he added.

some interesting points there.
anyway this could be the reason for the delays.

:ohno:

This has happened more than a year ago and those briton managers are trying to ruin DIFC.Unfortuanly also the media thereis attacking Dubai with reason and no reason.

I'd have to agree with him on some points he said espeically the land deals. DIFC seems to have a lot of internal problems and the Philip Thorpe one started casting doubts over the project. I think that if anythin extra happens of such severity, it'll be a big blow for the DIFC.

What is really interesting is that they didnt mention in the local media that Anis Al Jallaf, the chairman of the DIFC is chairman of Union Properties which might make a conflict.

They've also added that those two didnt want any local company to participate in the lunching of DIFC. The newspaper added that happened only when DIFC dismissed those two.

The major problem is that now there is a lot of controversy regarding this project. It has taken big steps but progress wasn't as smooth as expected as it seems.

the problem was already solved long time ago but, those two are putting water on the oil.

Dont you mean adding oil to the fire ?

:lol: obviously.
so this is not a DIFC problem actually?

whos problem then?

no i mean this is not caused by DIFC itself?

This will help DIFC get on the map immensely.... For those who dont know about Pricewaterhouse... lemme say this will probably be THE BIGGEST firm DIFC culda hoped for...

PricewaterhouseCoopers to apply for membership of DIFC

PricewaterhouseCoopers (PwC), the world's largest accountancy firm, is finalising its application to the Dubai Financial Services Authority (DFSA) to register as an Ancillary Service Provider with the Dubai International Financial Centre (DIFC).

http://www.ameinfo.com/images/news/9/18439-difc.jpg
(From left) Mr Amin Nasser, Partner, PwC, Mr Ashruff Jamall, Partner, PwC, Dr Omar Bin Sulaiman, Director General, DIFCA, Mr Samuel A. Di Piazza, Jr, Global Chief Executive Officer of PwC, Dr Habib Al Mulla, Chairman, DFSA, and Mr Michael J. Stevenson, PwC's Middle East Senior Partner.

Dr Omar Bin Sulaiman, Director General, Dubai International Financial Centre Authority, (DIFCA) commented:

'We are delighted that PricewaterhouseCoopers wants to do business from the DIFC. It is one of the world's largest accounting, audit and consulting firms, and we welcome their application. The number of major companies committed to locating here is increasing by the week and with each new applicant the critical mass of the DIFC continues to build up. The diversity of financial products and services that is becoming through the Centre is already remarkably high, considering that we have been operational for only one year.

'The attractions of the DIFC in particular and Dubai in general have helped us to achieve this success. We welcome PwC and all other companies that want to take part in the world's newest and fastest growing financial centre.
Mr Samuel A. DiPiazza, Jr, Global Chief Executive Officer of PwC, during his recent visit to Dubai, said:

'We have worked with DIFC since its inception. As a further demonstration of our commitment, PwC is pleased to establish a presence at DIFC. We will shortly complete and submit our application to register as an Ancillary Service Provider at DIFC.'

Mr Samuel DiPiazza, Jr, together with Mr Michael J Stevenson, PwC's Middle East Senior Partner, met with Dr Omar Bin Sulaiman, Director General of DIFCA, and Dr Habib Al Mulla, Chairman of the DFSA to announce their decision.

Mr Michael J. Stevenson added:

'Upon obtaining approval, PwC will build upon its dedicated Assurance, Advisory and regulatory practice units at the DIFC, which provide clients with an extensive range of services, including regulatory compliance support and application assistance.'

Fortis Bank / MeesPierson is also opening a branch in DIFC. :-)

PWC seniors were in Bahrain last week! I don't know what is happening here exactly

PWC seniors were in Bahrain last week! I don't know what is happening here exactly

They already have a branch in Bahrain.

no i mean this is not caused by DIFC itself?


Huh, Of course it matters when it comes to the integrity of the seniors themselves, how would they be able to safeguard the intersts of the Creditors, Investors ??

When this project starts? Any groundwork?

there is a lot going on, parts of the project are already completed, expect the whole complex to be done by 2010/2012

currently there is a huuuuuuuuuuuuuuuge hole next to the gate
i guess this will either be the underground car park or the underground mall

could also be foundations for One Central Park

certainly not
one central park is at the end of difc and not next to the gate

anybody willing to climb up a car park and take a picture?

I can't find this 54-floor tower here:
http://img341.imageshack.us/img341/7356/providencetower32sx.jpg
prelaunch link (http://www.homesonsale.co.uk/index.php?page=out&id=23099)

Open a thread for it.

this is a beautiful tower and i have come across this a few weeks ago
it seems to go through very soon

approved, but not yet announced
let's wait a little more

also here
http://www.exoticinvestment.com/construct/master_all_properties.php?start=35
http://www.dubaiwaterfronts.com/providence_tower_at_difc.htm

I already opened a thread for it.

no problem
i meant i will wait with adding it to emporis :D

simply because of lack of info, it's approved anyway

That tower, part of DIFC? I dont think so.. correct me if i'm wrong?

http://tinypic.com/fco1vp

Nice pic, but are these banners hung forever?

Anything under construction, yet?

I dont expect high gear until June next year then it will take off

From todays papers...

Business | Construction
Published: 23/11/2005, 06:42 (UAE)

DIFC to get connecting tunnel

Staff Report
Dubai :

Leading Dubai building contractor Arabtec has been awarded a Dh386.5 million contract to build a truck tunnel at the Dubai International Financial Centre (DIFC).

Arabtec said the tunnel would serve as a convenient route for service vehicles to move from one building to another within the DIFC zone and would reduce the amount of surface traffic passing through the financial centre.

Work on the tunnel is expected to start next week. Under the terms of the deal, Arabtec will also undertake maintenance of the system when the project is completed.

"We are delighted to be awarded this important contract, as it adds to our initial contract of Dh472 million signed with DIFC two months ago for the construction and maintenance of ten commercial buildings," said Arabtec general manager Thomas Barry.

Good news for the traffic, then? At last, a sensible move! :D

really sensible.
very useful also, seems like whole DIFC will have holes in the ground ;)

really sensible.
very useful also, seems like whole DIFC will have holes in the ground ;)

good place to bury a Monkey. :D

:rofl:

hope he never goes beyond the main UAE section. ;)

:lol:

:rofl:

hope he never goes beyond the main UAE section. ;)

he's a real dummerchen! LOL. He will never make it this far. :hilarious:

Isn't he from London though? :D

:laugh:

If you want more, just ask what the Italian forumers have to say in this matter.

schimia ... :rofl:

This is a good bank to have around. I'm not sure if it's an OBU but I see them expandin fast in this region, enjoy:


Morgan Stanley makes strategic move into Middle East

In line with its increased focus on the strategically important Middle East and North Africa Region, Morgan Stanley today underlined its commitment to the region with the announcement of a series of major initiatives.

• the appointment of Dr Georges Makhoul, Managing Director, as the Firm's first regional head for Middle East and North Africa;

• the local deployment of the Firm's comprehensive resources to the region; and

• the intention to establish its first office in the region in the Dubai International Financial Centre.

'This is a significant strategic step for Morgan Stanley', said Sir David Walker, Chairman of Morgan Stanley International, 'and it is a clear demonstration of our commitment to what is a key growth market for the Firm. While we have a long and successful track record of meeting the needs of clients in the Middle East and North Africa region, the increasing demand for sophisticated investment products and services, coupled with the increase in local market volumes, means that now is the right time for us to set up our first office in the region.'

'In addition, I am delighted that Dr Georges Makhoul has agreed to head the Firm's business in the region. He is a dynamic banker with considerable international experience, and he is the right man to establish and lead our presence in the region, to ensure that we have the right resources in place to enable us to deliver a full range of services to clients, and to oversee the future expansion of our business.'

Morgan Stanley has been active with clients in the Middle East region since the 1970s and the Firm intends to offer a comprehensive range of business lines through its newly established regional presence, including investment banking, capital markets, sales and trading, commodities, investment management, and private wealth management.


'The establishment of a local presence and the acquisition of appropriate licenses reinforces our commitment to serving our clients in the region, and will considerably enhance the capabilities we can offer',


said Dr Makhoul. 'As clients increasingly demand sophisticated investment solutions across the range of asset classes, having local expertise and resources will be of significant benefit. This is an important development for the Firm, and one with which I am excited to be associated.'

Reporting to Sir David Walker, Dr Makhoul will be relocating to Dubai in his new role. In addition, the Firm has applied to the Dubai Financial Services Authority for authorisation.

Morgan Stanley Morgan Stanley is a global financial services firm and a market leader in securities, investment management and credit services. With over 600 offices in 28 countries, Morgan Stanley connects people, ideas and capital to help clients achieve their financial aspirations.

What tower is this?

Multiplex wins $389m Dubai tower deal
December 5, 2005 - 7:19AM
http://www.theage.com.au/news/Business/Multiplex-wins-389m-Dubai-tower-deal/2005/12/05/1133631167364.html

Multiplex Group Ltd has won a $389 million contract to build an 86-storey office tower in the United Arab Emirates (UAE).

Construction of the project, known as "the Index" is expected to begin next month and the contract will last three years.

The tower will have 25 levels of office space, 50 levels of parking, retail and other services, and 520 residential apartments and penthouses.

It is located at the Dubai International Finance Centre.

The design of the building will be handled by architects, Woods Bagot, and structural engineers, Gilchrist and Evans.

The project managers will be edara-APP, a joint venture between Dubai-based project managers, edara, and APP, an Australian project management company.

Multiplex secured the contract through its UAE subsidiary, Nasa Multiplex.

What tower is this?

Multiplex wins $389m Dubai tower deal
December 5, 2005 - 7:19AM
http://www.theage.com.au/news/Business/Multiplex-wins-389m-Dubai-tower-deal/2005/12/05/1133631167364.html

Multiplex Group Ltd has won a $389 million contract to build an 86-storey office tower in the United Arab Emirates (UAE).

Construction of the project, known as "the Index" is expected to begin next month and the contract will last three years.

The tower will have 25 levels of office space, 50 levels of parking, retail and other services, and 520 residential apartments and penthouses.

It is located at the Dubai International Finance Centre.

The design of the building will be handled by architects, Woods Bagot, and structural engineers, Gilchrist and Evans.

The project managers will be edara-APP, a joint venture between Dubai-based project managers, edara, and APP, an Australian project management company.

Multiplex secured the contract through its UAE subsidiary, Nasa Multiplex.

look here and you will learn more:
http://www.skyscrapercity.com/showthread.php?p=6484255#post6484255

:cheers:

http://www.icammodels.com/models/difc/images/difc1.jpg

http://www.icammodels.com/models/difc/images/difc4.jpg

http://www.icammodels.com/models/difc/images/difc3.jpg

very cool Krazy. but how come this model is missing some towers?

in fact i dont see one central park, park towers, liberty house, the buildings, etc not to mention providence tower and the index

must be old

this is a masterplan, just to give an idea
it doesn't include all buildings with their design and stuff

it is similar to the first render we got

thought i should give you an update on this one

from the khalid al attar tower car park (the green golden tower) you can very well see the whole project

the whole in the heart of difc is huuuuuuuuuuuuuuuuuuge
i have no idea what is being built here, maybe the underground mall, no idea

sky gardens is well under c, being busy with foundations
excavations for one central park have almost been completed and work will start very soon

there are also cores coming up next to the smaller buildings surrounding the gate

these should be part of the gate district from union properties, where the ritz carlton will be with many other similar buildings


in fact, the site is very busy these days and it seems like the whole project picks up speed now

the hole is for the biggest underground park (37000 cars ) or somethign like that and for the mall . hope my hexagon is built

also hope the hexagon will be built, but it is in the major projects pdf as well. this is certainly one of the best designs in dubai.
thanks dennis, sounds good.

Yeah, the SZR skyline starts to grow in the 3rd dimension :D

here you can see the huge hole i was talking about

http://i1.tinypic.com/ne6std.jpg

It would be great if all cars from DIFC and SZR could park under the DIFC, so they could destroy all the car parks and build real buildings or skyscrapers.

Morgan Stanley to operate in DIFC

Dubai: Morgan Stanley, a global financial services firm, has received a licence from the Dubai Financial Services Authority to operate as an authorised firm in the DIFC.

"We are delighted to have received this licence from the Dubai Financial Services Authority it is a true demonstration of our commitment to the growth and development of this region," said Georges Makhoul, Morgan Stanley's regional head for the Middle East and North Africa.

"The DFSA's effective regulatory framework, combined with the DIFC's robust infrastructure, provides us with an excellent environment in which to expand our offering to clients. We are operational in the DIFC now and look forward to the official opening of this important regional office later next month."

Omar Bin Sulaiman, Director General of the DIFC Authority, welcoming Morgan Stanley, said Morgan Stanley is a highly reputed organisation and having them at the DIFC was a vindication of their strategy to create a world-class financial hub for the region.

"The opportunity available within the region, along with the state-of-the-art infrastructure and the international regulatory framework of the DIFC, provides the ideal platform for institutions such as Morgan Stanley to grow their business. We welcome and wish them all the success," he said.

Morgan Stanley has been active with clients in the Middle East region since the 1970s.

didnt know whwere to put this soo...its a pic of 3 cores out of i think 8 or more which are coming up near the gate building but on the side that faces Sheikh Mohammed's palace.
http://i2.tinypic.com/qspd85.jpg

R

that's amazing.

i expected it to take even longer but it seems like DIFC is in full swing now.

everything is in fact. the metro, the supertalls, dubailand.. :D

^^ This area of DIFC is a hive of activity these days :D

amazing!! :)


i wouldn't be surprised if in a couple years a massive supertall gets put up in DIFC...

From the renders from Al Bayan newspaper we have seen that Al Fattan have a twin tower project near the entrance of DIFC, just after those midrise office building. Yesterday on Real Estate TV they had a report from the site, and it seams that they have taken over the plot for development (I din't understand anything, but that's what I could make up from the images)

didnt know whwere to put this soo...its a pic of 3 cores out of i think 8 or more which are coming up near the gate building but on the side that faces Sheikh Mohammed's palace.
http://i2.tinypic.com/qspd85.jpgR


These cores form the 'The Gate Village' project which is a development of low rise (G+5) office buildings. it is being built adjacent to the current Gate building and will have retail on Ground and office space on higher floors.

Also whilst staying at the Shangri-La a couple of weeks ago i noticed that the foundations for Damac's Park Towers were well underway. There is a massive hole in the ground and it seems that piling is well underway. I found this a little surprising as i was previously informed that DIFC would be built progressively from the Gate Building down to where Park Towers is located.

r u sure those are the cores for 5F buildings? :weird:

good news on the damac tower.
but why did you expect them to build progressively?

Saturday, 25 March, 2006
Bouygues hits Dubai with Ritz-Carlton job
by Sean Cronin and Tim Wood

Global construction giant Bouygues has touched down in Dubai with the contract to build the new Ritz Carlton Hotel at Dubai International Financial Centre (DIFC).

The company has negotiated a contract with developer Union Properties to build the new hotel, after tying up with a local joint venture partner.

The 330-room building will also include 121 serviced and managed apartments, and is due to open in 2008. It will
be the second Ritz Carlton in Dubai and the fifth in the Middle East. The 15-storey building will include 2,000m2 of conference space and a 2,100m2 health club.

The French firm is in the top five of the world’s largest construction companies and its arrival in the UAE represents
a significant addition to the top tier of big name contractors currently operating in the region.

The multi-disciplinary contractor has interest spanning telecoms, road building and mainstream building contracting. Earlier this month, the company announced profits of around US $1 billion, and it expects sales to reach $30 billion in 2006.

Paris-based Bouygues spokesman, Hubert Engelmann, declined to comment in detail on the award ahead of an announcement due to be made this week.

He said: “I can confirm that Bouygues has won the second Ritz-Carlton hotel contract in Dubai but we cannot make an official announcement until we gain approval from the client itself. We expect that to be the middle of next week.”

Ritz-Carlton hopes its latest addition in the region will attract business travellers visiting Dubai’s new financial hub, currently taking shape just off Skeikh Zayed Road.

DIFC has announced a string of new occupiers in recent months, including some major international finance groups, such as Morgan Stanley and Barclays Capital.

R

http://i2.tinypic.com/vmpszp.jpg

Lots of cores!! What buildings are these?

^^ On the left side of The Gate (if you stand in front of it).

BTW, what building is this???

http://i2.tinypic.com/vmpzmb.jpg

It is on the back of Damas Twins and the one (the hole) in the background is The Index. Picture taken from the carpark of 21st Century Tower.

i'm not sure, but these many cores could only be the park avenue buildings, one of which is the ritz carlton
there are several of these buildings

the other one where piling is going on could be liberty house or buildings of daman, MUST be one of these 2!

Client Name Dubai International Financial Centre
Project Name GATE VILLAGE

Description 10 towers ranging from 6 to 10 floors. The towers are interconnected through the formation of a podium structure, containing 5 levels of car parking and hypocaust level.


Duration 436 Days

Features 6 levels of Podium + 6 to 10 floors of 10 Towers

Associates Architects: Hopkins Architects
Structural Engineers: Hopkins Architects
Services Engineer: Hyder Consulting M. E. Ltd.
Cost Consultant: Kulkarni Associates
Project Manager: Mace International Ltd.

http://i3.tinypic.com/vnmlc8.jpg

http://i3.tinypic.com/vnmmww.jpg

these are those cores near the gate...

R

yup, that's what i meant, similar to the ritz

Should we open a thread then?

lowrise ;)

but still that it the DIFC village, somebody mentioned it before already.

^^ Good info, The Dubai Guys. Thanks! Thats hot! :tongue2: :D

^^ Good info, The Dubai Guys. Thanks! Thats hot! :tongue2: :D

well Paris :tongue2:, in all honesty...these buildings are :puke:

i mean talk abt a blast from the past...v.70's colours....i hope they look better when finished tho!

R

well Paris :tongue2:, in all honesty...these buildings are :puke:

i mean talk abt a blast from the past...v.70's colours....i hope they look better when finished tho!

R

hmmmm....... the fact that the buildings are maroon makes me sick. Gag me! :puke:

The fact that there are that many buldings under construction in this particular project is cool! :)

Dubai International Financial Centre - A haven for captive insurers
16-Apr-2006




Dubai International Financial Centre

Dubai International Financial Centre offers big potential for captive insurance. Its internationally comparable regulatory framework and proximity to large markets of Middle East and the South Asia give it ample scope to emerge as a regional hub for captive insurance business, says Peter Casey, director supervision, Dubai Financial Services Authority (DFSA).

Captive insurance companies operate in the same way as traditional insurance companies in that they underwrite risks in exchange for premiums, except that they are directly owned by the insured rather than by a third party — ultimately making them 'captive' to their owners. The captive obtains cover for its parent's risk by dealing directly with the global reinsurance companies, and is often able to negotiate better terms. “Because there is no need for retail marketing and the captive management company's overheads are relatively low, the premiums themselves are often significantly less for the same level of cover as conventional insurance” states an industry expert.

A further benefit of establishing a captive insurer is that premiums can be set to more accurately reflect the specific risks of its owner. They are less exposed to the fluctuations in global insurance markets. Currently, there are some 4,500 captives operating globally, writing more than $38 billion in premiums. Originally, captives were single point reference insurance companies set up to cover the risks of their parents. In the recent years, the single parent concept has expanded to multi-parent, industry group and 'association parent' concepts.

While DIFC follows a protected cell model, the captives will have reduced reporting requirements and lighter supervision compared to the re-insurance companies. Insurance industry experts believe that DIFC has a good chance of attracting captive insurers because of its proximity to rapidly developing economies in the region. Captives are usually set up near the parents' corporate headquarters for the ease of management control. Most of the regional companies which use captives had no choice but to establish those in the world’s offshore banking centres such as Bermuda , Grand Cayman and Guernsey , which are not ideal for Middle Eastern companies because of the cultural and geographic distance between the corporate and its captive manager.

http://i3.tinypic.com/vs01kw.jpg

http://i3.tinypic.com/vs026a.jpg

http://i3.tinypic.com/vs0s3b.jpg

and none of these sites have boards up showing renders and contractor info etc?

did we drive there or what? :D

we should compare to the plot map.


http://tinypic.com/e0mtes.jpg

minor project.


.


.



:D

All those multiplex signs are making me worry about delays already...

wats this?

Saturday, 22 April, 2006
DIFC set to resolve building rows
by Sean Cronin

Construction arbitration decisions in the UAE will soon be made in a new court at Dubai International Financial Center.
And those decisions will have to be enforced by the existing court system.

But the move could encounter opposition from the UAE’s top judges according to local legal commentators.

It also means that the DIFC court could emerge as a rival forum to the existing Dubai International Arbitration Center, for hearing local construction industry disputes.

Although still in draft form, the arbitration law of the DIFC court will mean that a decision made in the new court is enforceable in the wider Dubai court system, according to Dean Ferris, chief legal officer at DIFC.

He said: “That has been agreed and it would be enforceable. A DIFC court is a Dubai court; even though it’s designated DIFC, it belongs to the same system of courts for all purposes.”

The arbitration procedures of the new court at DIFC are currently being finalised and could be published within the next three months.

R

whats this all about? what disputes?

29/04/2006

The Limestone House

http://i3.tinypic.com/wrno5k.jpg

Overview of the site:

http://i3.tinypic.com/wrnqec.jpg

http://i3.tinypic.com/wro1h0.jpg

http://i3.tinypic.com/wrx27s.jpg

http://i3.tinypic.com/wrx30i.jpg

http://i3.tinypic.com/wrx63a.jpg

phenomenal~~


:)

Looks much better than many of other construction sites :)

DIFC can become world's leading 'Fund' hub
[Business , Funds] Posted May 12, 2006 1:59:43 PM by chiropractor

Dubai International Financial Centre (DIFC), an offshore hub for global finance in downtown Dubai, has predicted that it could become one of the world's leading funds centres following the enactment of The Collective Investment Law 2006.

Dr Omar Bin Sulaiman, Director General of the DIFC, said: "The funds sector is central to the financial services industry and to the global economy. The ...[More] (http://www.uaepropertytrends.com/ptrends/mvnforum/viewthread?thread=1413)

These Dubai leaders of industry should really stop finishing comments mid-sentence, if they are to be taken seriously on an international level and indeed if they are to...

Click on [More]

new website

and the project will have 40 towers in total

40 buildings or towers?

http://i6.tinypic.com/11lple9.jpg

http://i5.tinypic.com/11lpo91.jpg

http://i5.tinypic.com/11lpod4.jpg



Facts and Figures


* Land under development: 45 Hectares / 5million sft
* Around 40 Towers on a shared podium
* Built up area (including parking): 4 million square meters / 45 million sft total
* Gross Floor Area: 2 million square meters
* The DIFC Master plan consists of the following districts:
o The Gate District - The Gate and 6 precinct buildings
o The Gate Village
o Park Avenue District
o Central Park District
o The Centre
o Gate Boulevard
* The above districts will consist of office towers, residential towers and hotel properties.
* Over 45,000 knowledge workers in DIFC
* 32,600 car parking spaces in the DIFC
* Retail Spine provides air-conditioned main street
* Landscaped podium roof creates resort-like Business Environment
* There will be Cultural, Leisure and Community centers in the DIFC
* An Internal Personal Rapid Transit (PRT) System to enable ease of movement both for the knowledge workers and residents of DIFC.
* The DIFC will directly link to the Dubai Metro

R

Wonderful ! I love it !

An airconditioned high street! :D Cool!!!!

^^ Since the time I dreamed about it :D

From SSP:

http://img113.imageshack.us/img113/4213/bd7720062gb.jpg


I think they should get a move on since not much seems to be happening apart from a few towers

dont worry

as the old adage goes, "slow and steady wins the race."

From SSP:

http://img113.imageshack.us/img113/4213/bd7720062gb.jpg


I think they should get a move on since not much seems to be happening apart from a few towers


This is one Incredible shot ever!

yeah this shot is awesome.

malec there is a lot going on, remember they have to work on the underground parking and shopping mall first.

but at least 3/4 of the whole thing seem to be UC.

http://i1.tinypic.com/205xd7k.jpg

http://i1.tinypic.com/205xdgh.jpg

very interesting.

but where is the metro supposed to run?

I hope the Circus is just a name....

is the Hexagon Tower still Up-to-date??

And the Park Towers?

Today by Imre

http://i7.tinypic.com/219z9rr.jpg

http://i7.tinypic.com/219z9sl.jpg

http://i7.tinypic.com/219z9tx.jpg

http://i7.tinypic.com/219zb5c.jpg

http://i7.tinypic.com/219zbbk.jpg

http://i7.tinypic.com/219zbbs.jpg

http://i7.tinypic.com/219zbe8.jpg

when i passed by al murooj complex yesterday towards dusit hotel i saw a giant hole
i have no clue what it is, but it's massive

much much larger than the index' hole

^^ It is the Cooling plant.

DIFC seems to be in full swing now.... great to see so much work going on.. now if only we had some updates on Park Towers :sleepy:

Great seeing all of these. Hopefully the park towers will start and not go through the usual damac crap :D

The Gate Village

http://i7.tinypic.com/21ep3xz.jpg

what about al fatan tower, lactic tower and deyar ones?
are they cancelled?

DIFC Authority releases consultation paper on subject of freehold land ownership in the DIFC

The Dubai International Financial Centre Authority (DIFCA) today published for consultation the DIFC Real Property Law 2006 and the Strata Title Law 2006.

Real Property Law
The Real Property Law guarantees ownership of freehold land and interest in land within the DIFC. It will allow for foreign companies and individuals to hold freehold ownership of real estate within the Dubai International Financial Centre.

The Law is based on the underlying principles of English common law, but also incorporates the Torrens system of land registration, well known in countries such as Australia, New Zealand, Canada and Singapore. Land transactions are registered in a central register. Once registered, the Law certifies them to be fully effective. This is the key distinguishing feature of the Real Property Law. Unlike some other systems of land registration, interest registered under the Real Property Law are 'indefeasible'. In practical terms, this means that persons buying real estate, lending on the security of real estate, or taking a lease on real estate, can be assured that their investment is backed by the full protection of the Law.

Strata Title Law
The Strata Title Law establishes a system of guaranteed freehold title to units in buildings in the DIFC. It is based on the system originally developed in Australia, but now in use in many countries around the world, including Singapore.

The Law combines the benefits of guaranteed title under the Real Property Law with an administrative structure designed to handle the day-to-day management of buildings. It will help overcome the complexities of co-owners association constitutions, master community declarations, and the like, introducing a simple but comprehensive system of rights and responsibilities.

Opening of consultation for the DIFC Real Property Law 2006 and the Strata Title Law 2006 fulfils the assurances made by DIFCA to developers, investors and clients alike, concerning real property rights within the DIFC jurisdiction as well as implementing an internationally proven legal system in line with its mission, vision and values as an international financial centre of first order.

Once the consultation period is complete and all relevant comments have been incorporated in the new laws, they will be sent for enactment by the Ruler of Dubai, His Highness Sheikh Mohammed Bin Rashid Al Maktoum.

These laws will solely apply exclusively in the jurisdiction of the DIFC.

The public is encouraged to review the proposed legislation and provide any comments they may have to the DIFC Authority's Chief Legal Officer, Dean A. Ferris. The laws may be accessed on the DIFC Authority website at http://www.difc.ae/laws_regulations/proposed/proposed_laws.html, which includes the process whereby comments on the laws may be submitted. The comment process will run until 6 September 2006, after which date the proposed legislation will be presented to the Ruler of Dubai for enactment in accordance with Dubai Law No. 9 of 2004.

New DIFC strata law may end up favouring a particular sector

Dubai: A recently-released property law covering the management of units in Dubai International Financial Centre (DIFC) will bear little resemblance to a wider Dubai law, say legal experts.

The Strata Law 2006, which will clarify responsibilities for the day-to-day management of DIFC buildings, has been released for public consultation.

A similar "condominium law" addressing the rights and responsibilities of owners and developers on common land in Dubai's freehold developments is expected soon.

But the system could differ greatly from the DIFC model and is at risk of favouring either the property owners or property developers, according to a strata law management company from Australia, where the law originates. "Unfortunately, the strata laws may be in direct contrast to the DIFC laws," said Kent O'Brien, director of K&G Strata Consultants on Australia's Gold Coast and a partner in Dubai-based AUAE Strata Global.

"In the wider emirate community, bureaucrats often seek to appease all owners when drafting strata laws and the accompanying regulations. There are several self interested sectors pushing for the implementation of their own agenda and all seeking control," he said.

"In this instance the strata law creates regulations skewed towards a particular sector of the community, whether it is the original owner or the end user."

He said the law should create a balance between the original owner and the end user, but admitted this is easier said than done.

today 08/09/2006


http://xs306.xs.to/xs306/06365/1d.jpg

http://xs306.xs.to/xs306/06365/2d.jpg

http://xs306.xs.to/xs306/06365/3d.jpg

http://xs306.xs.to/xs306/06365/4d.jpg

http://xs306.xs.to/xs306/06365/5d.jpg

:cheers: :cheers:

Nice pictures there. It looks like the Index will start rising any day now. And talk about immpresive. The SZR skyline is shaping up well.

Some interesting information here:

www.civicart.com (http://www.civicart.com)

^^ Wow, nice images, and another supertall aswell :D

BTW is sky gardens not actually part of DIFC? Sky gardens is across the road from the masterplan so does that mean another potential row of towers behind difc?

^^ The aerea behind the road, where Sky Garden and The Byilding (by Daman) are, is one of the Districts of DIFC.

Diamond Gate Office Towers. Hmm. Wonder why we haven't heard about this one yet. Looks to be around 335 meters. :)

Are all these new towers approved? Knowing Dubai they're probably already u/c.

those images are jawdropping

this is the first proper stuff for DIFC.. looks very good.

malec, check the masterplan the road is visible and i think there are tunnels or bridges to connect the part next to SZR with the other district where Sky Gardens is.

btw we don't have a thread for the Dubai Islamic Bank towers? they have been mentioned before and we have proper images now.

So should we make threads for all the new towers or maybe wait until we get more info?

OK, stole a few images from civic arts. Also made a masterplan from sticking together a few images.

http://img171.imageshack.us/img171/1175/1xn0.th.jpg (http://img171.imageshack.us/my.php?image=1xn0.jpg)

http://img245.imageshack.us/img245/1954/2cy6.th.jpg (http://img245.imageshack.us/my.php?image=2cy6.jpg)

http://img245.imageshack.us/img245/7947/3hd0.th.jpg (http://img245.imageshack.us/my.php?image=3hd0.jpg)

http://img245.imageshack.us/img245/6876/4dd8.th.jpg (http://img245.imageshack.us/my.php?image=4dd8.jpg)

http://img245.imageshack.us/img245/7927/5ri0.th.jpg (http://img245.imageshack.us/my.php?image=5ri0.jpg)

http://img244.imageshack.us/img244/5341/6de7.th.jpg (http://img244.imageshack.us/my.php?image=6de7.jpg)

http://img245.imageshack.us/img245/4466/7db4.th.jpg (http://img245.imageshack.us/my.php?image=7db4.jpg)

http://img91.imageshack.us/img91/5955/8da9.th.jpg (http://img91.imageshack.us/my.php?image=8da9.jpg)


Massive Masterplan

http://img136.imageshack.us/img136/4995/masterplanbigae3.th.jpg (http://img136.imageshack.us/my.php?image=masterplanbigae3.jpg)

stunning!

R

WOW i never ealised how beautiful this one will be.When will the whole project be finished?And can someone please post a pic of the progress?!I know that in this thread are many many pics but an aerial one would be great.For example taken from the Emirates Towers.

So, should we make threads for the new towers or not?

BTW, I think these are the islamic bank towers:

http://img417.imageshack.us/img417/2302/e0n2no0pg.jpg

^^ yes they were posted along with a new plot map from some paper.

u could open a thread.

regarding the location of providence tower, don't forget the Hexagon is maybe still alive, and i think it is on the ??? plot.

06.10.2006 By Imre

http://img82.imageshack.us/img82/2856/img4706dw8.jpg (http://imageshack.us)

http://img168.imageshack.us/img168/2516/img4707jd0.jpg (http://imageshack.us)

http://img84.imageshack.us/img84/4725/img4708po4.jpg (http://imageshack.us)

http://img168.imageshack.us/img168/7439/img4709ad4.jpg (http://imageshack.us)

http://img84.imageshack.us/img84/4397/img4711ok9.jpg (http://imageshack.us)

http://img219.imageshack.us/img219/8520/img4712sb0.jpg (http://imageshack.us)

http://img84.imageshack.us/img84/5008/img4713ch8.jpg (http://imageshack.us)

http://img243.imageshack.us/img243/3802/img4714pn6.jpg (http://imageshack.us)

http://img84.imageshack.us/img84/7158/img4717gt1.jpg (http://imageshack.us)

http://img219.imageshack.us/img219/9262/img4718to6.jpg (http://imageshack.us)

28/11/2006

http://xs409.xs.to/xs409/06484/difc.jpg

http://xs409.xs.to/xs409/06484/difc2.jpg

http://xs409.xs.to/xs409/06484/difc3.jpg

http://xs409.xs.to/xs409/06484/difc4.jpg

http://xs409.xs.to/xs409/06484/difc5.jpg

:)

The site of Islamic Bank Towers

http://i11.tinypic.com/4dhfwax.jpg

Still no info on them either. What I'm really wondering about is what happens with the diamond gate towers. Do they get built or will it be that megatall proposal from a a few weeks ago

Let's hope there will be some info on the Cityscape about them.

^^ nice update

1/1/2007 :)

http://xs511.xs.to/xs511/07011/11111.jpg

http://xs511.xs.to/xs511/07011/2222.jpg

http://xs511.xs.to/xs511/07011/33333.jpg

the index looks SO Huge

2/2/2007

http://xs512.xs.to/xs512/07056/index.jpg

DIFC -underground road, tunel

http://img174.imageshack.us/img174/7593/photo140bi2.jpg (http://imageshack.us)

http://img297.imageshack.us/img297/4700/photo141vh6.th.jpg (http://img297.imageshack.us/my.php?image=photo141vh6.jpg)http://img297.imageshack.us/img297/8425/photo149zj1.th.jpg (http://img297.imageshack.us/my.php?image=photo149zj1.jpg)http://img135.imageshack.us/img135/9383/photo150dr2.th.jpg (http://img135.imageshack.us/my.php?image=photo150dr2.jpg)http://img297.imageshack.us/img297/8238/photo151eo4.th.jpg (http://img297.imageshack.us/my.php?image=photo151eo4.jpg)

that is going to be massive..

i read in an aussie engineering journal today that that tunnel is the service tunnel for all the deliveries, etc at DIFC. good idea keeping ther service side of things underground. Going to be interesting to see how well it works out.

04/May/2007

DIFC underground road,tunel works

http://img247.imageshack.us/img247/9262/imresolt032zi9.jpg (http://imageshack.us)

http://img101.imageshack.us/img101/8747/imresolt033ik7.th.jpg (http://img101.imageshack.us/my.php?image=imresolt033ik7.jpg)http://img247.imageshack.us/img247/3971/imresolt034jl3.th.jpg (http://img247.imageshack.us/my.php?image=imresolt034jl3.jpg)http://img252.imageshack.us/img252/7453/imresolt035le5.th.jpg (http://img252.imageshack.us/my.php?image=imresolt035le5.jpg)

May 6, 2007

http://farm1.static.flickr.com/228/491547025_76077971a6_b.jpg

:omg: :omg: :omg: What a shot man!!! :eek: :eek: :eek: :eek: :eek:

what i pulled from wikipedia

"The Index is a mixed-use skyscraper currently under construction in Dubai. The supertall will be 328 meters (1,076 feet) tall and have 86 floors. Of those 80 floors, the lower 25 will be offices and 47 will be for residential use, including the world's highest apartment for a time when construction ends in 2008. The tower is oriented in such a way that the eastern and western concrete cores shelter the floors from the harsh, desert sun and the climatic effects of the area. The south-facing facade will utilize extensive sun shades to lower solar gain. A double height sky lobby will separate the offices and apartments; recreational facilities like a swimming pool, gym, and restaurants will be located on the sky lobby."

just to refresh memories

btw; who is going to the abudhabi cityscape

http://www.dewan-architects.com/

look under mixed use. "DIFC CENTRAL" !

Mind boggling how you go about building that!^^ :nuts:

^^ Such a monstrosity will NEVER get built. Its hideous :puke:

http://i7.tinypic.com/4mhk0f7.jpg

Need Details on the res Towers and Renders are out
http://www.imagestation.com/picture/sraid124/p3b5a678ac35ddcf7640dd7c5f4a2aeaa/f819fcf1.jpg

wow. those look amazing!

^^ Yeah....where are they coming by the way? ( they would look amazing on the seaside!!)

OH !! Dint see szr in the background

Published: 17/05/2007 12:00 AM (UAE)

Asghar Khan/Gulf News
The unique location of the hotel within the finance hub of Dubai assured Rosewood of the high net worth clientele it covets despite the abundance of choices in the emirate.



Rosewood plans DIFC property
By Ivan Gale, Staff Reporter



Dubai: Luxury hotel chain Rosewood Hotels is making its debut in the UAE hospitality industry with a luxury hotel in the Dubai International Financial Centre, to be opened in late 2009.

Under a partnership with local investment company Daman Investments and JMJ Hospitality, a US-based hotel developer, Rosewood Dubai will feature nearly 200 rooms in addition to 55 managed residential properties, which will be released for sale later this year.

Daman and JMJ are investors in the hotel, which will be managed by Rosewood. With JMJ, this marks the first project by a US-based developer in Dubai.



John Scott III, president and CEO of Rosewood, said: "We found this site the most attractive because it was situated within the financial centre. With the traffic, Dubai is now segmenting and executives don't want to stay near the beach if they have business to do."

For project developer and investor JMJ, this could be the start of a larger presence in the region. "We're interested in expanding to other locations, hopefully with Rosewood, but possibly with other partners," said Chris Knable, president and managing director of JMJ Hospitality.

DIFC buys 2.2% of Deutsche Bank
By Babu Das Augustine, Banking Editor



Dubai: DIFC Investments, the investment arm of the Dubai International Financial Centre (DIFC), yesterday announced the acquisition of a 2.2 per cent stake in Deutsche Bank, making it one of the leading single foreign investors in the German giant.

The Deutsche Bank deal follows a string of acquisitions of overseas corporate assets by Dubai firms in the past two years.

"This is another strategic investment for DIFC and comes as a further step in the enhancement of our portfolio," Omar Bin Sulai-man, DIFC governor and chairman of DIFC Investments, said in a statement.

Although DIFC Investments did not reveal the price it paid for the stake, rough estimates based on Deutsche Bank's market capitalisation of 60.6 billion euros ($81.94 billion) at Tuesday's closing price show that the value could be about $1.8 billion (Dh6.62 billion).

Henry T. Azzam, chief executive of Deutsche Bank in the Middle East and North Africa, told Gulf News the bank was happy to welcome its new shareholder. "DIFC Investments is not a speculator. The long-term nature of investment is a vote of confidence in our long-term outlook."

Nasser Al Sha'ali, the DIFC's chief executive officer, had said in March that DIFC Investments planned to invest $2 billion this year abroad.

DIFC officials expect a solid return on their new investment. "We believe Deutsche Bank has a very solid, sustainable global growth strategy and the right management team to deliver on that strategy," Bin Sulaiman said.

Deutsche Bank last week posted a 30 per cent rise in its first-quarter profit. The company's shares have risen 16 per cent in the past six months. The stock currently trades at 8.3 times earnings per share.

Buying spree

In the past two years, Dubai-based companies have made a series of acquisitions worldwide.

Earlier this month, Dubai International Capital, an investment arm of Dubai Holding, acquired a "substantial" stake in HSBC Holdings after the bank's shares fell 8.4 per cent.

While Dubai's state-owned Istithmar last year paid about $1 billion for 2.7 per cent of Standard Chartered, DIFC Investments holds about 3.48 per cent stake in Euronext, Europe's second-largest stock exchange.

The petrodollar-driven acquisition boom across the world is expected to surge this year.

Earlier this year, Bob Wigley, European head of Merrill Lynch, predicted that petrodollars from the Middle East would help finance a wave of asset buying worth about $500 billion over the next two years.

The surging petrodollar push into the mergers and acquisitions market is evident from the recent deals and attempts by Dubai-based companies to buy corporate assets abroad.

Dubai's first success in big-ticket deals came in February last year when Dubai's DP World acquired British ports operator P&O for $6.9 billion.

According to a recent report by the International Institute of Finance, Gulf-based investors acquired foreign assets worth more than $50 billion last year.

Published: 21/05/2007 12:00 AM (UAE)

Schroders to open office in DIFC
Staff Report



Dubai: Schroders yesterday said it had gained regulatory approval from the Dubai Financial Services Authority (DFSA) to open an office in the Dubai International Financial Centre (DIFC). The office will enable Schroders to broaden its distribution reach in the Middle East.

With a history dating back over 200 years and with $259.5 billion under management as of March 31, Schroders is one of the world's leading independent asset managers. It has been providing asset management solutions for clients in the Middle East for over 30 years.

Through the Dubai office, Schroders will offer professional investors a broad set of products and solutions.

Alongside active management in core equity and fixed income asset classes, Schroders will offer alternative investment products, including Hedge Fund of Funds, Property and Commodities.

the constructions do not stop to astonish to me and to fascinate to me very I am pleased really

Its is nice to know that the Schroders one of the world's leading independent asset managers are setting up their office in DIFC

oh well, it is nice now that they know the potential. just seems to me that all the major companies are coming quite late ...

Its is nice to know that the Schroders one of the world's leading independent asset managers are setting up their office in DIFC

When is Halliburton moving to Dubai? And where?

^^ Since when HALLIBURTON is a financial, banking, capital or brokerage institution?

Goldman Sachs opens office in DIFC
WAM



Dubai: The new Goldman Sachs office in the Dubai International Financial Centre (DIFC) was inaugurated yesterday by Dr Omar Bin Sulaiman, governor of DIFC.

Sulaiman welcomed Lloyd C. Blankfein, chairman of the board of directors of Goldman Sachs.

Blankfein's visit to Dubai also coincides with the meeting of the Goldman Sachs board at the company's DIFC office.

"[DFIC] is extremely pleased to welcome Lloyd C. Blankfein and the global leadership of Goldman Sachs to the DIFC. His long career in banking and finance, spanning over two-and-a-half decades, has elevated him to his current leadership role at the Goldman Sachs Group. It is a great pleasure to welcome him and his fellow board members to the DIFC, the region's leading international financial centre and home to some of the top financial institutions from across the world," said the governor.


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Goldman Sachs announced the setting up of the DIFC office in August last year.

Founded in 1869, Goldman Sachs is a global securities, investment banking and asset management company.

The firm provides a wide range of services to a substantial and diversified client base that includes corporations, institutional investors, governments, non-profit organisations and individuals.

Goldman Sachs is headquartered in New York and maintains offices in London, Frankfurt, Tokyo, Hong Kong and other fin-ancial centres across the world.

Published: 11/06/2007 12:00 AM (UAE)

Australian gold mining firm lists on DIFX
Staff Report



Dubai: Monarch Gold Mining Company from Australia has announced the listing of its shares on Dubai International Financial Exchange (DIFX).

Monarch, listed on the Australian Stock Exchange, is the third gold mining company to be listed on the DIFX.

"The region has a traditional understanding of Monarch's product, gold, as well as a sophisticated investor base looking for quality overseas investment opportunities. Our goal is to have approximately 15 per cent of Monarch's shareholders to be based in GCC," said Monarch chairman Michael Kiernan.


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Computershare, an international share registry, will enable trading on the DIFX to take place in the same pool of ordinary shares that is listed on the ASX, through a settlement link.

Monarch has grown to become the largest Australian-owned landowner in the mineral rich area of the Goldfields located near Kalgoorlie in Western Australia. It currently has a resource base totalling 2.4 million ounces and two state-of-the-art gold treatment plants.

merril lynch has decided to open an office here !!!

22/June/2007

DIFC underground tunel

http://img359.imageshack.us/img359/1921/imresolt143nw3.jpg (http://imageshack.us)

http://img502.imageshack.us/img502/2277/imresolt145ft4.jpg (http://imageshack.us)

http://img515.imageshack.us/img515/1585/imresolt146gg1.jpg (http://imageshack.us)

http://i11.tinypic.com/4ra7984.jpg
I have a hi-res version if anyone is interested.

I like how the DIFC is adding density to SZR. I don't really like the idea of a tower strip.

I have a hi-res version if anyone is interested.


I am
:eek2::eek2::eek2::eek2::eek2::eek2::eek2:


That`s one of the best Dubai night shots i have ever seen.

I am
:eek2::eek2::eek2::eek2::eek2::eek2::eek2:


That`s one of the best Dubai night shots i have ever seen.

Thanks, I'm honoured if that's coming from Tom Green!

I'll send you a desktop wallpaper size... around 1200 pixel wide?

That new tall tower near Shangri-La, it's called Al Salam, isn't it? Anyone know when they're going to have lights? It's been dark for a while.

^^ This photo has already been posted, along with the BD photographs, and was taken by the banned Vitalstatistix in early June. It is already on flickr at bigger sizes than what you are offering.

^^ This photo has already been posted, along with the BD photographs, and was taken by the banned Vitalstatistix in early June. It is already on flickr at bigger sizes than what you are offering.

What? PM me the original shot.

Fantastic shot! Should look better in a few months when rose rotana is lit up and is occupied. Am wondering if some of the towers in DIFC are too massive. Some are not only tall but really imposing too, like the Index and some others.

BTW did you notice any construction on the opposite side of emirates towers?

Damn, that's Rose Rotana. I forgot about it.

I don't really remember if there was construction opposite Emirates Towers.

i want one! :cheers:

Anytime, please be so kind to PM me the high resolution photo of DIFC at night, that you are referring to. Thanks.

DFSA releases hedge fund code for public opinion
Staff Report
Published: July 04, 2007, 23:03


Dubai: The Dubai Financial Services Authority (DFSA) yesterday issued a draft hedge fund code for public comment.

Consultation Paper No 50 and the Code, which are posted on the DFSA website, seek comment on the DFSA's proposals to introduce best practice standards for the hedge fund industry in the DIFC under 9 high level principles.

This delivers on a promise made by the DFSA to develop such a code in consultation with the industry after the first year of operation of the Collective Investment Funds regime.

Ian Johnston, managing director, Policy and Legal Services at the DFSA, said: "We thought it appropriate to develop best practice standards under high level principles, rather than detailed rules. We selected nine areas of risk which are more specific to hedge fund operations than to other types of Collective Investment Funds.


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"This approach is consistent with the DFSA's risk-based approach to regulation and gives the industry the flexibility to develop their own practices within the framework set by the principles."

The draft hedge fund code builds upon the legal requirements applicable to all Collective Investment Funds in the DIFC.

By developing these proposals in line with international best practice, the DFSA is furthering its regulatory objective of ensuring that the DIFC is a well-regulated and internationally competitive financial market.

Comments on the code close next October 4. Subject to any changes in the code resulting from public consultation, the authority hopes to introduce the code in the first quarter of next year.

Arabtec goes for self-compacting concrete on DIFC tunnel project
by ArabianBusiness.com staff writer on Saturday, 07 July 2007
zoomSelf-compacting concrete enabled Arabtec to reduce the number of applications needed.The service tunnel under the Dubai International Financial Centre complex, which is approximately 1.4km long, 10m high and between 20-40m wide, has been completed. The tunnel will be used for delivery and service access for the main mall, which will be constructed above it in phase two of the development.

The project specification originally called for normal high-slump concrete, but main contractor Arabtec, in conjunction with its concrete supplier, Austrian Arabian, decided that the best way of constructing the tunnel was to use self-compacting concrete, which would give them the advantage of placing it into the formwork in one application. The dimensions of the sections were 10m high and 12m long. A total of 7,000m³ of concrete was needed for the side walls of the tunnel.

The approved mix was a C50/20 triple-blend (MSRC+GGBS+MS), designed for a stringent specified chloride permeability value of 500 Coulombs. The contractor settled on the Glenium SKY admixture because it fulfilled its requirements pertaining to durability, segregation, passability and slump flow, while at the same time retaining the early strength gains, which aided quick formwork removal.

Story continues below ↓
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BASF Construction Chemicals claims that its self-compacting concrete has many technical and cost benefits over normal high-slump concrete for contractors, clients, engineers and readymix companies, including enhanced durability, extended service life of structures, high early and ultimate strength and architectural design flexibility. It also eliminates vibration and is easier to place with a cohesive pumpable mix.

The client is Dubai International Financial Centre and the consultant is Cansult Maunsell Aecom. Turner International is managing the project and the main contractor is Arabtec, which was awarded the contract in November 2005.

R

good info

DIFC to make bid for OMX, says UK report
Gulf News Report
Published: July 14, 2007, 23:31


Dubai: The Dubai International Financial Centre (DIFC) is set to make a bid for OMX AB, owner of the Swedish stock exchange, scuppering the proposed $3.7 billion bid by Nasdaq, the British newspaper Daily Telegraph said yesterday, citing unnamed bankers.

The DIFC is believed to have secured funding to bid 250 crowns ($37.63) per OMX share, 20 per cent more than Nasdaq's 208.1 crowns per share offer, the newspaper said.

DIFC officials declined comment when contacted by Gulf News.

Dealers said that a bid is more likely to come in at 230 crowns ($34.59) per share, according to the report.

"Bankers at UBS and Goldman Sachs are understood to have been asked to be on standby to launch a bid for OMX on behalf of the DIFC as early as (this) week," the newspaper said.

OMX officials in Stockholm did not respond to the report.


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"The DIFC's existing financial adviser, HSBC, is thought to be leading work on the deal which is believed to have been masterminded in part by DIFX head Per Larsson, the former chief executive of OMX," the Telegraph reported, saying any rival bid would spell potentially bad news for American stock exchange group Nasdaq, which has spent months working on its agreed merger with OMX.

Gulf News tried to contact Larsson but he did not respond.

DIFC Governor Omar Bin Sulaiman said in May that DIFC was not considering making a bid for OMX.

"We are not doing anything with them," he said when asked whether DIFC was planning to make a bid for the firm.

In a joint statement on May 25, Nasdaq and OMX said their boards of directors had entered into an agreement to combine the two companies.

"The DIFC is understood to have been buying OMX shares in the open market in recent days, amassing a stake in the region of 4.5 per cent, just below the 5 per cent level at which a buyer must disclose ownership under Swedish stock exchange rules," the Telegraph said.

The bid would mark the largest single investment by the DIFC, which has in the past taken small stakes in Euronext, HSBC and Deutsche Bank.

Swiss bank Mirabaud has been granted a licence allowing it to do business from the Dubai International Financial Centre. Mirabaud (Middle East) will provide wealth and asset management services for clients across the Middle East and South Asia. Mirabaud says it has nearly $18bn of assets under management worldwide

France's renewable energy producer Velcan to raise Dh1b through DIFX
By Babu Das Augustine, Banking Editor
Published: July 17, 2007, 23:21


Dubai: Velcan Energy, a Paris-based renewable energy producer, plans to raise 200 million euros (Dh1.02 billion) through a combination of Islamic bonds (sukuk) and private placement of shares through Dubai International Financial Exchange (DIFX).

"We have plans to raise 100 million euros through a pre-IPO private placement and an additional 100 million euros through Islamic instruments to fund a few hydro power projects in India," managing director Antoine Decitre told Gulf News from London.

Velcan, a Euronext-listed company plans to make its India investments through its Dubai International Financial Centre-based fully-owned subsidiary Velcan Energy Holdings (Dubai).


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Velcan Energy recently won a 40-year concession to build and operate major hydropower projects in India. The company plans to invest 300 million euros in the Indian state of Arun-achal Pradesh in four power plants: Pauk, 50 megawatts; Heo, 90 mega-watts; Tato I, 80 megawatts, and Hirit, 84 megawatts. These projects are projected to generate combined revenues of more than 90 million euros.

"We are bidding for an additional 700 megawatts of concessions in northern India and all our India projects will be financed through our DIFC based subsidiary," said Decitre.

Velcan Energy, which established its DIFC subsidiary this year, will use the DIFX as a platform to finance its growing international operations, which extend from Brazil to India.

Come on now. This is not a thread about the financial activities of DIFC: while it will be interesting to just post tenants or banks/financial institutions opening branches in here, no one is interested to read who is going to list the shares or what are the regulations.

Please.

Come on now. This is not a thread about the financial activities of DIFC: while it will be interesting to just post tenants or banks/financial institutions opening branches in here, no one is interested to read who is going to list the shares or what are the regulations.

Please.

but but but :O i am intrested in that :O what shall we do ? maybe open a thread for them :nuts:

it is good information...you could use it as reference later on...


Come on now. This is not a thread about the financial activities of DIFC: while it will be interesting to just post tenants or banks/financial institutions opening branches in here, no one is interested to read who is going to list the shares or what are the regulations.

Please.

:)

but but but :O i am intrested in that :O what shall we do ? maybe open a thread for them :nuts:

I agree! Plus, indirectly it is essential for the true progress of the financial centre. After all, it is the substance, not the architecture that will make or break this project in the long term.

^^ But this is a ARCHITECTURAL forum and the focus is, and should be on the architectural part of the project.

This is just a fantastic shot! Rose Rotana, the Index and Burj Dubai there in the distance. WOW!!! I noticed that wonderful coff coff *rip off* coff coff "tribute" to the Great Arch in Paris-La Defense there at the bottom.;) :lol: What name have they given to this structure?

May 6, 2007

http://farm1.static.flickr.com/228/491547025_76077971a6_b.jpg

^^ That is The Gate.

^^ Thanks :)

why do you have beyonce's picture?:lol:
she's mine!!!!!!!!!!!!:lol:


^^ Thanks :)

understand your point of view altin, but we still need to post these info
kinds of set the pace of what happens here...
architectural parts are still posted here...


^^ But this is a ARCHITECTURAL forum and the focus is, and should be on the architectural part of the project.

why do you have beyonce's picture?:lol:
she's mine!!!!!!!!!!!!:lol:

Why? 'cause she's HOT!!!!!!:lol:

Oh and also because I get bored very quickly, so don't be surprised if you see a pic of Beyonce's butt here tomorrow!!!:lol: Although, if I ever do that my current babygirl will most probably cut my nuts off and leave them in a bowl beside the bed for me to find in the morning!!!:lol: My kid Morella is PO'd at me for taking down Chii... she's lurking around here somewhere, waiting for me to move so she can put Chii back:lol:

She's not yours - she's mine!!!!!!!:lol: And I seriously wouldn't recommend any kind of "challenge" either... oh man, that would be the mother of all mistakes!!!!!!!!:lol: But if you're feelin' lucky...:ohno:

Seriously though, used to own a place in Miami a few years back and actually met Beyonce a couple of times there at the club, with Kelly. To be honest, I did find her sweet...but yet annoying, believe it or not, but she's still hot though!!!:lol:

We'll have to get together and kick Jay-Z's ass if you want her that bad rexdmx:bash: :runaway: :lol: :lol: :lol:

u met her!!! :eek2:
both u and jay z would pay !!!!:guns1:

why was she annoying by the way??


Why? 'cause she's HOT!!!!!!:lol:

Oh and also because I get bored very quickly, so don't be surprised if you see a pic of Beyonce's butt here tomorrow!!!:lol: Although, if I ever do that my current babygirl will most probably cut my nuts off and leave them in a bowl beside the bed for me to find in the morning!!!:lol: My kid Morella is PO'd at me for taking down Chii... she's lurking around here somewhere, waiting for me to move so she can put Chii back:lol:

She's not yours - she's mine!!!!!!!:lol: And I seriously wouldn't recommend any kind of "challenge" either... oh man, that would be the mother of all mistakes!!!!!!!!:lol: But if you're feelin' lucky...:ohno:

Seriously though, used to own a place in Miami a few years back and actually met Beyonce a couple of times there at the club, with Kelly. To be honest, I did find her sweet...but yet annoying, believe it or not, but she's still hot though!!!:lol:

We'll have to get together and kick Jay-Z's ass if you want her that bad rexdmx:bash: :runaway: :lol: :lol: :lol:

u met her!!! :eek2:
both u and jay z would pay !!!!:guns1:

why was she annoying by the way??

Yeah, met her a couple of times there at our club (by ours I mean me and my brothers) in Miami few years ago now (long gone now). It's not all that jaw-droppin' though mate, most of these famous people are assholes anyway! Completely self-obsessed, narcissistic and whatnot. Beyonce actually came to the club lots of times but I wasn't there, except on those couple of occasions. She was with Kelly and some other friends in the VIP section of course! My brother Jack was all over her though:lol: It was so funny:lol: Beyonce was very sweet and we had several drinks with her whole group (perks of the job when you own the place:lol:) of friends. Lots of fun basically! I dunno...but I just found something about Beyonce annoying...maybe it was the way she kept looking at herself in the mirror:lol: But all I can say is that she was very sweet, friendly and didn't mind having a dance with all of us. Man can she move! Made me look like a geriatric!:lol: I'll never forgive her for that either!:lol: Favourite person I've met (fav female I mean) was Shakira!:D Soooooooo sweet!

It's not all that difficult to meet these people, if you know where to go. If you happen to be interested in such things anyway? Personally I don't give a f**k about any of them!!!!

I was born ready dude!!! :guns1::guns1::guns1: Oh Yeah!!! :guns1::guns1::guns1::guns1:

:lol:

It's not all that jaw-droppin' though mate, most of these famous people are assholes anyway! Completely self-obsessed, narcissistic and whatnot.
I dunno...but I just found something about Beyonce annoying...maybe it was the way she kept looking at herself in the mirror:lol:



that's exactly what i hate about celebs...
anyway let's get back to DIFC before krazy spots us..:lol:

that's exactly what i hate about celebs...
anyway let's get back to DIFC before krazy spots us..:lol:

Yeah, me too!!!:bash:

I wonder how many DIFC unrelated posts you have to make before you get booted off?:lol:

Really don't wanna know of course!!!:lol: :banana:

^^ Have you ever meet Chii?

^^ Yes, I have actually! I live with her!

She's five years old and sometimes goes by the name Morella!:lol: Remarkable resemblance between Morella and Chii...:nuts:

She's pulling my arm off right now for her din din so gotta run!:runaway:

Can't keep her royal highness waiting now can I!:lol:

Dubai Government launches 'Borse Dubai'

http://www.ameinfo.com/images/news/0/43870-borsedubailogo.jpg

The Dubai Government announced today that it will consolidate its holdings in Dubai Financial Market (DFM) and Dubai International Financial Exchange (DIFX) into a new holding company, Borse Dubai.

The Government's move is in line with the Dubai Strategic Plan 2015, and demonstrates its commitment to further position Dubai as the leading capital market in the region.

DIFX and DFM will continue to be regulated by Dubai Financial Services Authority (DFSA) and the Emirates Securities and Commodities Authority (ESCA) respectively. Borse Dubai will build on existing synergies between both exchanges, with improved exchange infrastructure, to better serve all stakeholders.

Explaining the role of Borse Dubai within the new structure, DFM Chairman Essa Kazim, who has been appointed as the Chairman of Borse Dubai, said that the company is intended to be a facilitator, allowing DIFX and DFM to explore joint opportunities for the development of capital markets in the region and in the broader context of global exchanges. He commented:

'Both exchanges will share best practices, maintaining operational efficiency at international standards. Borse Dubai will boost confidence among issuers, investors, and intermediaries who will benefit from a presence in both exchanges, as well as a broader and more varied range of services.'



Stating that DFM would continue its firm commitment to maximise value for its shareholders, Essa Kazim said:

'DFM's Board and management team will continue to drive DFM's business and execute the current growth strategies. Given the rapid transformation of capital markets around the world, it was the right time to jointly build on the synergistic opportunities provided by both exchanges and to create Borse Dubai as a platform for further growth.'

Dr. Omar Bin Sulaiman, Governor of Dubai International Financial Centre (DIFC) stated that the strategic alignment of DFM and DIFX is in line with the objectives of the Dubai Strategic Plan 2015 and the vision of His Highness Sheikh Mohammad Bin Rashid Al Maktoum. He said:

'Dubai 2015 plan seeks to position our Emirate as a global hub of a diversified economy. Naturally, a mature and well structured financial industry is instrumental for sustainable and rapid growth of such an economy. Borse Dubai is the answer and the right vehicle for this.'

Soud Ba'alawy, Chairman and Board Member of DIFX emphasised the new platform as a gateway to opportunities within the region as well as a bridge between East and West. He said:

'DIFX, being a DIFC entity, is unique in the region. Its standards are comparable to those of leading international exchanges in New York, London and Hong Kong. Borse Dubai, based on DIFX's and DFM's strengths, will facilitate easier access for international and regional investors, providing for a potentially diverse investor base.'

This move is subject to necessary approvals from the regulatory authorities.

So this is really becoming a "financial" centre..

^^ I don't think any tower is called Financial Centre Tower. I say they should build one.

splendid article smussuw!! hopefully we would get more info on the service they provide


Dubai Government launches 'Borse Dubai'

http://www.ameinfo.com/images/news/0/43870-borsedubailogo.jpg

The Dubai Government announced today that it will consolidate its holdings in Dubai Financial Market (DFM) and Dubai International Financial Exchange (DIFX) into a new holding company, Borse Dubai.

The Government's move is in line with the Dubai Strategic Plan 2015, and demonstrates its commitment to further position Dubai as the leading capital market in the region.

DIFX and DFM will continue to be regulated by Dubai Financial Services Authority (DFSA) and the Emirates Securities and Commodities Authority (ESCA) respectively. Borse Dubai will build on existing synergies between both exchanges, with improved exchange infrastructure, to better serve all stakeholders.

Explaining the role of Borse Dubai within the new structure, DFM Chairman Essa Kazim, who has been appointed as the Chairman of Borse Dubai, said that the company is intended to be a facilitator, allowing DIFX and DFM to explore joint opportunities for the development of capital markets in the region and in the broader context of global exchanges. He commented:

'Both exchanges will share best practices, maintaining operational efficiency at international standards. Borse Dubai will boost confidence among issuers, investors, and intermediaries who will benefit from a presence in both exchanges, as well as a broader and more varied range of services.'

Dubai Government launches 'Borse Dubai'

http://www.ameinfo.com/images/news/0/43870-borsedubailogo.jpg



Initially this sounded like great news. Bourse Dubai sounds much more solid than the previous names. However I can't see any real arguments as to what this would change though. Regardless of name; The Bourse Dubai still has a long road to travel before it can even describe itself as a solid and established financial market.

On a sidenote: in which building does the Dubai Bourse physically hold it's location?

Tate: I agree that is a great picture! Imagine it in 3 years from now *drool*. However, you can hardly call The Gate a rip off or even a tribute to the great arch in paris. It's hardly similar in other terms than the "gate-like shape", in which the gate was far from being first at throughout history....

Edit: Erh, in a short attack of ignorance I accidently mistook "The Great Arch" with "The Triumphal Arch" on Champs Elysèe. My sincere apologies.:)

Borse, what an ugly name. Sounds like like the unfortunate child of a boar and a horse.

^^ It is the French word for Stock Exchange :tongue2:

in German it's Börse .. would u prefer the two dots :P

^^ NEIN!!!!!!!!!! :D

no the French word is "bourse"

^^ Correct amundo!!! Bourse is french, the french for the "Bourse de Paris"
Paris stock exchange.

Deutsche Borse is german! Oh two dots above the O of course. Surprised you didn't know that Mr. Vienna;)

Been in the sun too long by the sound of it!:lol:

Just kidding:D

Well I've been under the Dubai sun way much longer then the "short" stay under Vienna's dark skies. :D

^^ Well I've deduced from that that you don't come from the wonderful city of Vienna.

So, my humble grovelling apologies Mr. Tirana!:lol: :lol: :lol:

:D

^^ Did I sense a dissapointement? :rofl:

^^ No, absolutely not!!! You come from a very beautiful part of the world mate! The Adriatic and Ionian coastline is just spectacular! I've always found the Balkans very enchanting and quite romantic...

And Albanian/Balkan women are HOT!!!:yes:

Well if you're feeling a little homesick AltinD then here's what you're missin':lol: :lol:

http://img167.imageshack.us/img167/6723/albania2op402x600su4.jpg (http://imageshack.us)

^^ :kiss: :lovethem: :naughty: :hug: :wink2: ^^

Is love in the air? :hahaha: :hahaha: :hahaha: :D