New project of Venice Island in Jeddah, Saudi Arabia

http://www.aldoribe.com/Upload/Picture_12_13.gif

http://www.aldoribe.com/Upload/BPicture_47_15.gif

http://www.aldoribe.com/Upload/BPicture_48_15.gif

http://www.aldoribe.com/Upload/BPicture_49_15.gif

http://www.aldoribe.com/Upload/BPicture_44_15.gif

http://www.aldoribe.com/Upload/BPicture_45_15.gif

http://www.aldoribe.com/Upload/BPicture_46_15.gif

Location:
The Southern Cornish in Jeddah by the Red Sea. Near the new proposal of the stadium.

Size:
2.20.899.155 M

Will take 18 to 19 months to finish.

Source: Saleh Al Dorebe Group for Development & Real Estates Investments:
http://www.aldoribe.com/

Thanks to the member (huit).
Now this is a project.

Really kool , mashalah , especially that tower !! 150-180 meters maybe !!!

I was left spellbound when I saw the Ad for this in newspaper since Saudi builders don't declare much about their projects. I'm sure there are gazillions of more in pipeline, hopefully we'll see them soon! Thanks for posting!! :)

Yeah, Doreibi really flooded the airwaves and billboards with advertising, although they didn't mention anything about the project specifically until a few days ago.
Sounds like a great project, although it's on the wrong side of Jeddah. Too far away for most people.

Tx Huit, Majed :)

how come there is a pic of the old Abu Dhabi corniche in thier, the second one from the bottom.

Dubai_Boy: Thank you Dubai boy. Yes I think it is going to be at that height.

Huit: Yes you are right they. They usually declare it when it is finished. There are even some great projects had finished and they did not have any infos about it.

HiJazzey: This man is going to be a new name of Saudi well known businessmen. Even if the project that far people will come. (Al 3alam ma tesadig ya rajil;)). No need to thank us at all (Na7no fi al khedmah)

Ahmedr: How are you buddy? Hmm I don’t know why they have a photo of it in the site, or it might very similar.

I just read in Al Arabiyah news that the project going to be 7 times bigger then the Palm Island in Dubai!

Ok lets phrase it this way (Jeddah and Dubai are competing). The beautiful Twins of the Middle East one by the Persian Gulf and one by the Red Sea!

As our Egyptian brothers say (Foolah wo enasamet) (A bean and got separated)<< I hope I was right on translation ;).

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Here is the News in Arabic:


الاحد 26 ديسمبر 2004م، 15 ذو القعدة 1425 هـ


مساحتها 7 أمثال "نخلة دبي"
مليارا ريال تكلفة "جزر البندقية" بالسعودية والاكتتاب مستمر إلى فبراير

خريطة مشروع البندقية الواقع على الكورنيش الجنوبي لجدة

العربية.نت

قال رئيس مجلس إدارة مجموعة "صالح الدريبي للتطوير والاستثمار العقاري" السعودية صالح الدريبي إن الاكتتاب في مشروع "جزر البندقية" الواقع على الكورنيش الجنوبي لجدة سيستمر حتى فبراير/ شباط 2005 الذي يوافق نهاية العام الهجري الحالي, وأنه من المتوقع أن يتم تغطية الاكتتاب بنحو 1.4 مليار ريال (الدولار يعادل 3.75 ريال) بينما تبلغ التكلفة الإجمالية ملياري ريال.

وأضاف في تصريحات نشرتها جريدة "الشرق الأوسط" اللندنية اليوم 26-12-2004 أن أمانة مدينة جدة اعتمدت تنفيذ شبكة الطرق على طول 35 كيلومترا, وبناء عليه تم توقيع عقود التنفيذ مع 3 مؤسسات وطنية بقيمة 25 مليون ريال, وسيتم تنفيذ الطرق خلال 7 أشهر، مشيرا إلى أن مشاريع الطرق التي تم إبرام عقودها أمس من شأنها رفع أسعار أراضي المشروع.

وعلى الصعيد نفسه, كشف الدريبي أن مشروع "جزر البندقية" الذي تبلغ مساحته 7 أمثال مشروع النخلة في دبي، سينطلق في مطلع العام الهجري المقبل, وأن المجموعة باشرت السعي للحصول على موافقة أمانة مدينة جدة للحصول على اذونات التطوير المقترح تنفيذه في شاطئ جزر البندقية المقابل لكورنيش جزر البندقية جنوب جدة، وهو مشروع غير داخل في المساهمة القائمة حاليا.

يشار إلى أن مساحة مشروع جزر البندقية تتجاوز 20.8 مليون متر مربع, وله إطلالة على الشاطئ طولها 8 آلاف متر, وأن المساحة المطروحة للاكتتاب تبلغ نسبتها 70 % من المساحة الإجمالية للمشروع, ومن المقرر أن تبلغ مساحة القنوات المائية 4 ملايين و179 ألف متر مربع وعمقها 5 أمتار.

جدير بالذكر أن السوق العقارية السعودية تشهد انتعاشا ملموسا ومن المتوقع أن يستمر هذا النمو مدعوما بارتفاع أسعار النفط وتوافر السيولة, وأن مصادر قدرت حجم التداولات بسوق العقار السعودي بنحو 900 مليار ريال, وأن حصته 60 % من إجمالي تداولات سوق العقار الخليجي.

http://www.alarabiya.net/Article.aspx?v=9005
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Great project...:eek:

http://www.aldoribe.com/Upload/BPicture_47_15.gif
Just awesome...:eek:

alDoribe group has been given the green light by the Ministry of Trade to put up 70% of the share holding into a public offering. That's about 1.5 billion Riyals worth of shares.

Cool project , however , i dont think its going to be 7 times bigger than the palm humierah



Palm deira = 83 Square kilometers

Plam Jumierah = ??

Palm jebel ali bigger than palm jumeirah

This project in Jeddag , is 20800000 sqm = 20.8 sqkm

Plam jebel ali is diffinately bigger than 20 , maybe 25 or 30 , maybe more , who knows , so that would make jumierah island 2.4 sqkm for it to be 7 times smaller than the venice islands !!



it doesnt add up

Cool project , however , i dont think its going to be 7 times bigger than the palm humierah



Palm deira = 83 Square kilometers

Plam Jumierah = ??

Palm jebel ali bigger than palm jumeirah

This project in Jeddag , is 20800000 sqm = 20.8 sqkm

Plam jebel ali is diffinately bigger than 20 , maybe 25 or 30 , maybe more , who knows , so that would make jumierah island 2.4 sqkm for it to be 7 times smaller than the venice islands !!



it doesnt add up

Oh thank you for the information Dubai Boy. Sometimes media add too much numbers to grab people’s attention.

At the end, who can beat Dubai ;).

but this project is huge anyways

It's a nice project, but for that cost, there's no way it'll be bigger than the palm by 7 times. In Bahrain we have a project (Durrat al Bahrain) and it's 20 sq. km and they said it's slightly smaller than the palm jumeirah, so there you go.

Hmmm....that skyscraper looks pretty risque to me - especially in a country like Saudi!!!

Hmmm....that skyscraper looks pretty risque to me - especially in a country like Saudi!!!

I am glad you liked it, but still I don’t understand your last point. Jeddah has 59 towers and skyscrapers since the late 70th why this one particularly will be risky?

Thanks

he probably means the shape of it and I think you could understand the rest, that is if that's his point.

:eek: This is excellent!!! :)

مشالله مشروع رهيب

بس ماعتقد انه بينجح في السعودية

مب كل من قل بسوي مشروع ينجح

وبعدين اكبر من النخله بمره ولا بحشر مراة مشروع النخلة والمشاريع المتميزة تاعتمد على التصميم مب الحجم


بالتوفيق ونشالله ينجح المشروع
سلام

مشالله مشروع رهيب

بس ماعتقد انه بينجح في السعودية

مب كل من قل بسوي مشروع ينجح

وبعدين اكبر من النخله بمره ولا بحشر مراة مشروع النخلة والمشاريع المتميزة تاعتمد على التصميم مب الحجم


بالتوفيق ونشالله ينجح المشروع
سلام
Why you don’t think this project will success in Saudi?
As you said! Judging a project by its size without putting in mind the good facility it would be a shame. I think the facility of this project will be well settled but it wont be as popular as The Palm.

Thank you.

i like this project. saudi arabia should have more of these projects, and the best places to make these projects and other projects such as those in dubai is in saudi arabia, coz it probably the only place in the gulf that has a strong enough local market to support such projects, while the rest of the gulf have to depend on foreigners as there market... great project

im sure ksa, espically jedda can come up with a lot of great idea.. but u guys have alot of red tape...

I don't know what Emirates ME is talking about. Jeddah has a proven track record when it comes to these kind of projects. Heck, the city pioneered these type of projects. I don't need to mention the success of projects like Durrat al 3aroos!

An image of the design....

http://www.almadinapress.com/images/ArticlePict/md15260/10821.jpg

This is very interesting map! Now I am very interested to observe this
project finishing. I it looks like The Arabian Peninsula land with a lot of
reveres and forests. Very smart project.

Somehow similar to the (World project in Dubai) because each part of those
Islands will show Saudi Arabia with its own colorful folklores, culture, traditional
architectures and markets.

Thank you Hijazzy I was really wondering what’s the Island going to look
like.

Really kool , mashalah , especially that tower !! 150-180 meters maybe !!!

how come there is a pic of the old Abu Dhabi corniche in thier, the second one from the bottom.

All these renderings and pictures are only proposals. They are not even proposals; they are just there to give a general idea of what the project is going to look like.

Regarding the future of this project, I’m a little doubtful about it. First, it is just too far from Jeddah adding the fact that it is located south of Jeddah (the dead part of the city). Second, the project looks too big comparing to other similar projects in Saudi.
However, Al-Duraibi group is known for its very successful project and I’m sure they know what they are doing.

Here is another picture of the project. It can fit 316 thousands of people.

http://www.aleqtisadiah.com/SiteImages/EqNews/4424.jpg

You can see water canals in the heart of the island.

http://www.aleqtisadiah.com/SiteImages/EqNews/4507.jpg

Wow great picture!!!! Especcialy the small picture is that a masjid? because it looks fantastic! great place!!! thanx for the pic Olive

WOW, that looks really nice. Do you have any idea if they have started construction? and when is it scheduled for completion??

Great pic Olive touch~! I have a friend from the al-saud family he can get me any buildings, or appartment or house there for half the price :D, in fact! he told they are getting rid of everything most of the royals are selling their properties. like King Fahd's grand palace in TAif it costs 250 million interested in buying it? lol

Digital Tiger, why are they selling their properties?

Digital Tiger, why are they selling their properties?
Just for your information Saudi Dunes, 'Digital Tiger' is 'Anas Anani' who was banned last week for his rude attitude. Go back to his old posts and you'll know why he's saying that about Al-Saud family.

Oh please guys lets keep Politics and Al Saud family out of the subject I don’t
want this thread to be blocked as the old one.

LOL, no worries Olive Touch, we're gonna be quite this time around. No politics, I promise

By the way, are those fake volcanos in the second picture in post #25?? It would be awsome if they are. i really wanna see how this thing looks when it is complete

... why do i have the feeling you Saudi Dunes and Skyfan are the same person!........... King Fahd has his Palace in Taif for sale! costs 200 million interested pm me not interested then please keep your mouth shut!

Btw Olive Touch this project is approved and will be built :D! I saw it on Saudi TV1 they talked about it and everything! too bad i couldn't save the images :(

... why do i have the feeling you Saudi Dunes and Skyfan are the same person!


Why don't you contact the moderator (Dubai-Lover) and ask him to compare my IP Address and Saudi Dune's IP address. Also ask him to check the IPs of "Anas Anani", "Digital Tiger" and "Samgola". Let's find out whos feelings are right!!

Why bother the moderator for your stupidity?

Largest Saudi urban project coming up in Jeddah
Posted: Wednesday, April 20, 2005

Dubai


http://www.tradearabia.com/source/2005-04/20/water.jpg

One of the world's largest and most modern waterfront developments is now coming up near Jeddah, in Saudi Arabia. The Al Bundoquia Islands will be built along the Red Sea coast, extending nearly 21 sq km.

Waterfront 2005 Dubai, to be held at the Al Bustan Rotana Hotel, Dubai, will highlight some of the key design and development features of Al Bundoquia Islands, the largest urban development project in Saudi Arabia.

Waterfront 2005 Dubai, a ground-breaking conference and exhibition on the future of the Middle East's coastline development will host the Dubai debut of Al Bundoquia Islands, said officials.

Named in Arabic after the historic Italian city, Venice, Al Bundoquia Islands will be built along the Kingdom's Red Sea coast, 26 km south of Jeddah, extending over nearly 21 sq km.

'The Middle East's real estate market is one of the fastest growing in the world. While Dubai is leading the way, other regional countries, such as Saudi Arabia, are emerging with fresh development opportunities,' said Chris Hayman, managing director, Seatrade, organisers of Waterfront 2005 Dubai.

'Al Bundoquia Islands is one of the world's largest and most modern developments and Waterfront 2005 Dubai will highlight some of its key design and development features.'

Waterfront 2005 Dubai will be the first dedicated business-to-business event outlining future opportunities in waterfront design, construction and planning.

The conference will bring together speakers from across three continents.

'The two-day conference will probe the latest issues surrounding waterfront development, including investment risks, the challenges of land reclamation and dredging, environmental impact, water and land transportation links and infrastructure, ' added Hayman.

'It will also provide case studies not only from the Gulf and Middle East but from around the world.'

Waterfront 2005 Dubai is being held with the full support of Dubai Chamber of Commerce and Industry, Dubai Ports Authority and Dubai Maritime City.

hey isnt this island the one where the chairman of the company is in jail coz of some finance issue.. not sure i might be mistaken

Well I think there was a big issue about it cause it was thought that this was one big scam just like the chess project in Dubai and the guys supposedly developing this had his accounts frozen. Here is the thread for it here:
http://www.skyscrapercity.com/showthread.php?t=188616

علمت ( جريدة الوفاق ) أن مصادر في امانة جدة حذرت امس من مشروع احتيال جديد نشر يوم امس في بعض الصحف السعودية الصادرة في جدة وهو انشاء مدينة بين جدة ومكة المكرمة بتكلفة 5 مليارات ريال . وعلمت الوفاق ان الشخص الذي يزعم انه سينفذ هذا المشروع يدعى ( خالد سندي ) احد مرشحي جدة وهي محاولة لكسب الاصوات عن طريق هذا المشروع . وحذرت الامانة من تكرار مأساة جزر البندقية التي حصدت 2 مليار ريال وجرى تجميد ارصدتها مؤخرا ، كما توعدت لجنة الانتخابات في جدة في اتصال هاتفي بالمرشح باسقاط اسمه من بين الكشوفات مشيرة الى ان هذا يعد من بين الخروقات وهو الادلاء بمشاريع مستحيلة التنفيذ واستخدامها في الوصول الى كراسي مجلس الانتخابات وكان المرشح خالد سندي قد قام امس الاول بالاجتماع بعدد من الصحافيين في جدة من المحسوبون على الصحافة من خلال تنسيق من صحفي فلسطيني سابق كان يعمل في صحيفة المدينة وفصل لاسباب اخلاقية ومهنية وهو الان يقوم باختيار الصحافيين الذين يمكن استغلالهم دون علمهم لصالح هذا المرشح. في حين كان قد تلقى السندي في وقت سابق التحذير من جهات عليا خلال قيامه بجمع تبرعات في ركن قام باعداده في فندق هيلتون نهاية العام وقال بعد ايقافة للجهات الامنية انها تبرعات للشعب الفلسطيني.

Aha I see, so not only is this a scam, but also the other civil city project, nice, way to go, this ain't good at all for the investment market in Jeddah.

Guys this project is NOT a scam. what happened is a misunderstanding between SAMA and the developer. The company introduced a shares public offering for the project via 7 different banks. When the offering was closed, the company tried to transfer the assets into one account and that's when SAMA interfered and froze all of the assets fearing another scam. After few days the company provided the necessary guarantees to SAMA and the issue was resolved.
The other project though (Civil City) might be a scam since the developer is not a well known in the real estate business besides that the project is too big and still vague.

People became extremely paranoid of possible scams when it comes to real estate investments after the scams that happened two years ago of more than SR 1.5 billion.

thanks skyfan for clearing it up. I myself wasnt sure thats why i said i might be mistaken.

http://www.skyscrapercity.com/showthread.php?t=188616

Thanks.

Wops sorry double posting

lol a lot of double posting today... ;)

they are presenting it in dubai waterfront 2005, so definitely not a scam. Great news for Saudi

Ok cause I thought that tradearabia wouldn't post it if it's a scam then that article popped out then there was misunderstanding. Good to know the project is goin on :).

I have good news but not confirmed yet. Al Doribie will expand the area of the project to be 5 times the current proposal. So it will be around 100 million sq m.

Detailed Description of the Islands...

According to Gulf Construction Online, the development will have 16 districts.

District 1:
North Corniche. Bisected by a 50 meter wide waterway that leads to the developments interior. The district is designed to be a "social gathering place" where residents can enjoy panoramic views and state-of-the-art water activites. (will contain a large mosque, and large-scale sports and leisure facilities)

District 2:
Will provide spectacular views of the Red Sea, with beautiful beachfronts. South Corniche will offer entertainment and dining facilities alongside casual retail and marine-oriented fun and education.

District 3:
Lost Island. Will be strung along the main waterway, and will boast several lakes and luxury residential facilities which "residents will be willing to pay a premium for".

District 4:
Lost Palace. Will offer two major developments...A 5-star luxury Grand Hotel and Resort Villas, and an Aqua park and Marina. The water park will provide "thrilling water slide, a wave pool and a host of fun water activities for children". The district will also boast two exclusive islands shaped in the form of the Durebe Group's corporate logo.

District 5:
Located at the heart of the "Arabian Peninsula", this district will be the largest of all. The area will sevre as a "Town Centre", a nucleus for the overall development. Four canals will emanate from the main waterway and converge at the centre to form a prestine lake at the district core, surrounded by four clusters of mid-rise office, commercial, and mixed-use developments.

District 6:
Also known as The Arabian Village. This district will host an array of gated communities alongside luxury "Floating Villas". Part of the zone will be dedicated to a cluster of 4-storey structures that offer an array of seated dining venues, boutique shops, and service-oriented ratail.

District 7:
Global City. An international village that is master planned to be a "city within a city". It will be a vibrant mix of world-class convention facilities, exclusive corporate addresses, and prominent business hotel and gourmet restaurants.
"The districts oasis of glass and steel will represent global contemporary architecture and showcase the best designs-all themed to a timless new modern style of architecture".

District 8:
Water-World. The district is about 580,000 sq. m in size, and will offer an amphitheatre, and for those who value privacy and exclusivity, several private islands with residential developments will be available. The district will also boast a contemporary, traditionally designed souq (I'm guessing somehting like Souk Madinat Jumeirah).

District 9:
This 1 million sq. m district will play host to spectacular golf fairways, greens, waterways, and residential fairway lots.

District 10:
Eve's Island. Will host an exlusive, mixed-use resort, as well a WOMEN-ONLY private island, which will boast white sand beaches, full-service club house, and themed retail venues and restaurants.

District 11:
The district will be comprised of a waterfront museum, a super-luxury gated community with villa cluster located on a simple curving road, parks, and an ultra-exclusive mansion on a private island, as well as a mosque.

District 12:
Located on the developments "Red Sea", the district will host a high-rise Icon Tower Gateway, located at the junction of two major roadways (Coastal Road and Peninsula Bridgeway Road). The tower will be visible from virtually all parts of the development. "This building will be visible from great distances, and would indicate to people that they have arrived at a vibrant city that represents the best of New Arabia".

District 13:
Built in a Mediterranean theme, the area will be divided into two half by a linear "promenade". In the Eastern half will be located a vibrant traditional souq along side a glass pyramid mall. In the Western half will be located a mosque, a marina, and a large cluster of residential towers.

District 14:
Laguna Gulf. Will provide an up-market residential communtiy nestled along extensive waterfront. It will be located on land grouping shaped like fingers projecting into the sea.

District 15:
This will be the developments Financial/Business Bay. A high-profile development will offer corporate occupants a prominent address within a lak-studded green environment, as well as intelligent buildings with a towering presence.

District 16:
Mid-rise residential clusters with large open spaces for lush greenery and vibrant courtyards.

After 8 months of waiting, this project got the final approval. Case closed..

Bondoqiyah Islands

We have talked about this project before but unfortunately it was put on hold for nearly a year because of some legal issues. However, this week it was finally approved and we are waiting for more information in the coming weeks about the scope of the project. Needless to mention, the construction of the roads was started when the project was announced last year but I don’t think it went on. So, we can classify this project as approved for a while. The CEO of Al Doribe group said in a newspaper that a foreign investor has offered $ 3 billion to invest in this giant 20 sq km project. Again, no details yet. You may enjoy the renderings for now though…


http://arab4up.com/File/1141123675.jpg


http://arab4up.com/File/1141123853.jpg


http://arab4up.com/File/1141123876.jpg


http://arab4up.com/File/1141123893.jpg


http://arab4up.com/File/1141124009.jpg


http://arab4up.com/File/1141124029.jpg


http://arab4up.com/File/1141124051.jpg


http://arab4up.com/File/1141124076.jpg


http://arab4up.com/File/1141124096.jpg


http://arab4up.com/File/1141124121.jpg


http://arab4up.com/File/1141124142.jpg


http://arab4up.com/File/1141124162.jpg


http://arab4up.com/File/1141124186.jpg


http://arab4up.com/File/1141124207.jpg


http://arab4up.com/File/1141124224.jpg


http://arab4up.com/File/1141124239.jpg

I wouldn't go as far as saying it is approved. All that's happened is that they've been cleared of fraud. Jeddah municipality still hasn't approved the project.

i hope they keep it going and not canceld

adv for new facts about that mysterious Al Bundoquia Islands soon in Osool Chaneel (i will recorde it inshallah)
P6f7AJUaCBk

Yes, please do.. I would like to know the truth about that project!

the project was canceld

the project was canceld



what the project was cancelled really i am new to this forum i read all and at last :ohno:

new website,

http://www.bondokeya.com

new website,

http://www.bondokeya.com

What does that mean? Is the project cancelled or not? What's next?
Really it is something mysterious...:ohno:

new website,

http://www.bondokeya.com

Thats weird! The islands' name is spelled differently from the website name! :bash: :lol: :nuts:

was found in the boundoquia island plot it says it's privat plot for prince motab bin abdullah bin abdulaziz!!!!?????
http://img161.imageshack.us/img161/4020/sscksajabiec2.jpg

^^ :ohno:

fuck him

a big theaf

Hmm, I wonder if this project is now going ahead. I cannot read what it says on the website ,but I did check on the whois for the domain and it says owner is;

Found bondokeya.com registered via REGISTER.COM, INC

Registrant:
Net 2000
Wajdi AlGhazzawi
Ar-Rusaifa
Makkah, MA 10999
SA
Email: almunzer@yahoo.com

Registrar Name....: REGISTER.COM, INC.
Registrar Whois...: whois.register.com
Registrar Homepage: www.register.com

Domain Name: bondokeya.com

Created on..............: Sun, Apr 15, 2007
Expires on..............: Tue, Apr 15, 2008
Record last updated on..: Thu, May 10, 2007


So can anyone please tell me what it says on website as I cannot read it ??. Does it say project goes ahead ?.

Thanks
MaglevMonorails

:(

I never believe that prince Mut’ab has seized the plot. There must be a mistake.

I never believe that prince Mut’ab has seized the plot. There must be a mistake.

Sorry but I couldn't understand ur post.....????

I did call them (Jeddah Office ) and the told me that they will sell the land and return the money to the investors

Over SR1b refunded in failed Venice project

After all the recent news about new Island developments in the UAE - one project in Saudi - The “Islands of Venice,”(al bondogiyah)has failed, necessitating a substantial refund to investors.

Saleh Al-Nuaim, the project’s legal counsel said:

“So far we have refunded money to 7,500 investors and we want to pay off another 1,000 investors.”.

The enormous project was originally announced in 2005.

Financial and administrative irregularities surfaced some time ago and it later turned out that the developer, Al-Diraibi Group, did not have the required license. The project is being scrapped by Royal order.

The developer has reportedly collected more than $600 million USD from over 15,000 investors.

Al-Nuaim said Arab National Bank is handling the pay-out process. “We are still working on the contracts of the remaining investors.”

“Many contributors who had transferred their projects from Al-Ka’kiah, Jawharat Al-Shark and North Bridah have received their money,” added Al-Nuaim. “We are asking other investors to submit their transfer documents.”

He said he has started a website listing the names, amounts invested and other relevant data on investors, which we have been unable ti locate as yet.

“The new website has the names of all those who have received their money,” Al-Nuaim said. “If any contributor sees his name registered in the site but has still not received his money, he should check his account number to make sure that all the procedures had accurately been done.”

Al-Nuaim appealed to investors who have got their refund checks to submit their papers to Arab National Bank so as to facilitate procedures to collect their money.

The Jeddah general court is still in discussion over the time frame for the developers and investors to submit the relevant documents to Arab National Bank. Money not registered with the Bank would be deposited in the Jeddah general court.

:banana:

:deadthrea:deadthrea:deadthrea:deadthrea:deadthrea:deadthrea:deadthrea:deadthrea

^^what do you expected?these one is canceled years ago! honestly al bondqyah island is a big scandal!!!

but i dont think so...........i got this news 2 weeks ago from zawya.

الثلاثاء 19 رجب 1429هـ -22 يوليو2008م - العدد 14638

انتهاء دراسة مشروع جزر البندقية الجديد في شهر رمضان المقبل
تأسيس شركة تضم الاتحاد السعودي القطري



جدة - معيض الحسيني:
أكد إبراهيم السبيعي عضو الاتحاد السعودي القطري الذي فاز بمزاد جزر البندقية مؤخرا أن الاتحاد أنهى التزاماته المادية وسلم جميع المبالغ التي تمثل قيمة الصفقة والمقدرة بنحو 1.88مليار ريال، ولم يعد عليه أي التزام في هذا الأمر.
وأضاف في تصريح ل "الرياض" أن الاتحاد ينوي تأسيس شركة جديدة تضم جميع المشاركين في الاتحاد ويتركز نشاطها على المشروع المراد إقامته على ارض جزر البندقية، مشيرا إلى احتمال دخول شركاء جدد في المستقبل، إذا دعت الحاجة إلى ذلك.

وأكد السبيعي عدم علاقة الاتحاد بحقوق المساهمين السابقين في المشروع حيث إن هناك جهات متخصصة تعمل على إعادة حقوقهم بعد أن دفع المشترون الجدد كامل المبالغ المستحقة عليهم نتيجة بيع الأرض في مزاد علني.

وأشار السبيعي إلى أن دراسة الجدوى الاقتصادية المتعلقة بالمشروع الاستثماري المقرر إقامته على الأرض ستنتهي وتسلم في شهر رمضان المقبل وبناء عليها سيحدد الاتحاد الاستمرار في إقامة مشروع سكني وسياحي وصناعي متكامل بقيمة مليار ريال، أو التراجع عن الفكرة والعمل على إقامة مشروعات أخرى.

وكان السبيعي قد أعلن ل "الرياض" عن وجود فكرة لإنشاء مدينة سكنية متكاملة ذات مواصفات نموذجية تتمتع بجميع الخدمات وتضم مرافق سياحية وصناعية وتجارية، مما سيظهر ضاحية سكنية وسياحية متكاملة تخضع لأعلى مستويات التصميم والبناء.

مشيرا إلى أن الاتحاد بدأ في تكليف شركات متخصصة لإجراء الدراسات اللازمة حول الاستثمار الأجدى في تلك المنطقة.

يذكر أن الاتحاد السعودي القطري يمثله كل من شركة مكين القطرية وعبدالرحمن صالح الحناكي وعبدالرحمن شربتلي وإبراهيم عبدالله السبيعي وإبراهيم صالح الحناكي.

Source (http://www.alriyadh.com/2008/07/22/article361372.html)

http://www.alriyadh.com/2009/03/01/article412932.html

Date March 1st 2009

Ray of hope for investors in Venice Island project

JEDDAH – The final liquidation report on the Venice Island (Al-Bunduqiya) Project in Jeddah has been submitted to the General Court here following the auctioning of assets, and the court is now expected to issue a ruling soon on the return of investors’ funds.
The final liquidation reports were submitted to the court on Sunday by Saleh Al-Nuaim, the legal accountant tasked with returning money to thousands of investors, following King Abdullah’s order to liquidate the Venice Island Project.
According to Al-Nuaim, the holding of the auction was beset with difficulties but judge Sheikh Hamed Al-Khathiri of the General Court decided the auction should proceed at the scheduled time.
“Delaying the auction could have caused even more huge losses for many investors in the project,” Al-Nuaim said. “The length of time the projects were taking made them vulnerable to fluctuations in the economy and was incurring losses on investors through missed investment opportunities.”
“The auction was conducted electronically via Jeddah, Riyadh, Kuwait City and Dubai enabling investors to take part without having to travel,” he added.
In response to criticisms that the auction prices were unnecessarily low, Al-Nuaim said that the prices had been set by the Real Estate Committee at the Jeddah Chamber of Commerce and Industry.
“A delegate from the Jeddah General Court and experts from Jeddah courts were in attendance at the auction,” Al-Nuaim added.
“The Jeddah General Court issued a contract which contained details of my fees (only two percent of the total value of sales) and this contract was then signed by Saleh Al-Diraibi, head of Al-Diraibi Group.” he said.
“I was planning to publish all the financial and legal details, but I decided to postpone it until the court had dealt with the issue,” he said.
Al-Nuaim said that the final liquidation report showed profits of more than 25 percent of the capital.
“A part of these profits was designated to Al-Diraibi Group which will distribute it to investors and founders,” he said. “Surplus profits will go to Jeddah General Court for distribution to founders and contributors.”
Jeddah General Court issued a report showing that the funds were delivered to around 125 groups in amount of 10,213 contracts on Feb. 28.
Jeddah General Court used bank transfers, and electronic methods to collect data and the account number of investors, to ensure accurate information and avoid errors.
The 21 million sq. meter Corniche project which was floated in 2005 was ordered to be scrapped by a Royal Decree after the surfacing of financial and administrative irregularities and the revelation that the developer, Al-Diraibi Group, was not in possession of the required license to carry out such an undertaking.
Al-Diraibi reportedly collected more than SR2.56 billion from over 15,000 investors. – SG

A project is to be announced soon. And this time the government will be the lead.

check this link for the substitute project fro Mackeen-Qatar:
It's called the "Suburb".

http://www.mackeen-qatar.com/mackeen/index.php?id=155