Name: The Cube
Floors: ?
Height: ?
Use: Residential
Wesbite: www.the-cube-dubai.com

http://www.ameinfo.com/images/news/3/18533-thecube.jpg

http://tinypic.com/ejbpcg.jpg

German property leaders team up in Dubai Sports City for USD70 million project


A consortium of German companies has announced the creation of a key development in Dubai. The Cube, a project valued at more than USD70 million, will be part of Dubai Sports City.

http://www.ameinfo.com/images/news/3/18533-thecube.jpg
An artist impression of the landscape of Dubai Sport City - the green framed inset is The Cube.

The Cube project, led by Trend Capital, the German issuing house, is one of the first residential buildings to be announced in Dubai Sports City. This is the first example of German investment in the city of Dubai.

According to Frank Simon, general manager of Trend Capital, the group recognised the potential for simple and transparent entrepreneurial strategies in the UAE. He said: 'Foreign direct investment in the UAE is finally picking up some pace and we have identified the potential for companies like ours.

'Also, we believe the guarantee of European best practices will serve as a quality assurance for our buyers outside the UAE: there are enormous investment potentials in Dubai and our global track record will ensure a safe financial environment for our investors.'

Details of its design will be announced when the apartments go on sale in November but the cutting-edge design will stand out in the environment, according to the architectural firm behind the project, BRT from Hamburg.

Jens Bothe of BRT, said: 'In a market as buoyant - and competitive - as Dubai, design has been a principal focus for us from the start. With a city as full of landmarks as Dubai, we have had to invest considerable design time in creating something that is future-proof, yet still stands out in the landscape.'

Engel & Völkers, the European-based luxury real estate group, is bringing The Cube to the market. Franz Schedlbauer, CEO Middle East for Engel & Völkers, said: 'Sports City as an integrated destination is starting to make a lot of noise internationally, and we believe it will prove to be a destination of note when we launch pre-sales of The Cube next month.'

While BRT will continue overseeing the design of the tower, BMG, a Berlin based company, was selected as the contractor.


In brief: The Cube project
Located in the hearth of Dubai Sport City, The Cube will benefit from the vicinity of the three main stadia as well as enjoying views of the waterways of the 'Arabian Canal'.

The Cube takes its name from the intricate structure which guarantees maximum exposure to light and provides the perfect setting for healthy living and a sporty lifestyle.

All apartments will be fitted with balconies, interior multimedia and high-tech finishes and amenities of the highest German standards.

the german tower... highest german standard.. amaaaazing :D

i wonder how the masterplan looks like now, after that new model on CS.
dumb name of the week ,anyone? ;)

^ You should know, afterall you worked for them. :tongue3:

well that was before CS.

anyway franz schedlbauer was the boss while i was there, i helped that this tower has been launched because i did the presentation for Sports city they gave to the investor. i am sooo proud :D

this is prime location afterall i saw the plot in the (old?) masterplan, it was directly at the stadiums, first line.

Is the tower the one inside the frame?

found the developer website
http://www.trendcapital.org

tower has 24 floors

a render

http://www.tcfi.de/uploads/pics/2tower.jpg

added to emporis

and looks stunning :eek:

Interesting :)

I'd prefer if they put glass where that hole is. Without glass it would look like someone ate a chunk out of this building. The good thing though is this design is different to any other in Dubai. Quite good though.

bigger

http://tinypic.com/ejbpcg.jpg

Great tower. More!!!

$70m cube project to be part of DSC

14 October 2005

DUBAI — A consortium of German companies has announced the creation of a key development in Dubai the $70 million Cube project to be part of Dubai Sports City.

The Cube project, led by Trend Capital, the German issuing house, is one of the first residential buildings to be announced in Dubai Sports City. It is also the first example of German investment in the city of Dubai.

According to Frank Simon, general manager of Trend Capital, the group recognised the potential for simple and transparent entrepreneurial strategies in the UAE. He said: "Foreign direct investment in the UAE is finally picking up some pace and we have identified the potential for companies like ours.

"Also, we believe the guarantee of European best practices will serve as a quality assurance for our buyers outside the UAE: there are enormous investment potentials in Dubai and our global track record will ensure a safe financial environment for our investors."

Details of its design will be announced when the apartments go on sale in November but the cutting-edge design will stand out in the environment, according to the architectural firm behind the project, BRT from Hamburg.

Jens Bothe of BRT, said: "In a market as buoyant - and competitive - as Dubai, design has been a principal focus for us from the start. With a city as full of landmarks as Dubai, we have had to invest considerable design time in creating something that is future-proof, yet still stands out in the landscape."

Engel & Völkers, the European-based luxury real estate group, is bringing The Cube to the market. Franz Schedlbauer, CEO Middle East for Engel & Völkers, said: "Sports City as an integrated destination is starting to make a lot of noise internationally, and we believe it will prove to be a destination of note when we launch pre-sales of The Cube next month."

While BRT will continue overseeing the design of the tower, BMG, a Berlin-based company, was selected as the contractor.

Stunning Low Rise :eek2:

course it is.
i was involved in this project :D

:D loving this one--

"Stunning Low Rise"´

It isnt a low rise, is it?

Interesting, i just hope it won't collapse. Looks quite vulnerable. Maybe it's just me who have not got used to all new materials and technology. Maybe have to redefine our idead about what is logical to build. As there now is glass harder then rock ^^.

no it's technically a highrise, easiyl with 24F.

Sports City Cube plan unveiled

A consortium of German companies has announced plans for a US $70m (AED257 million) project known as The Cube to be built at Dubai Sports City.

Berlin-based BMG Group is the main contractor on the project; BRT from Hamburg is the architect and will oversee the design of the tower; with Engel & Völkers acting as the real estate group.

Led by Trend Capital, the German issuing house, The Cube is one of the first residential buildings to be announced in Dubai Sports City and is the first example of German investment in the city of Dubai.

According to Frank Simon, general manager of Trend Capital, the group recognised the potential for simple and transparent entrepreneurial strategies in the UAE.

“Foreign direct investment in the UAE is finally picking up some pace and we have identified the potential for companies like ours.

“Also, we believe the guarantee of European best practices will serve as a quality assurance for our buyers outside the UAE: there are enormous investment potentials in Dubai and our global track record will ensure a safe financial environment for our investors.”

The project takes its name from the design of the structure which affords maximum exposure to light. Located in the heart of Dubai Sport City, The Cube will be close to the three main stadia and will have views of the Arabian
Canal waterways.

Jens Bothe of BRT, said: “In a market as buoyant — and competitive — as Dubai, design has been a principal focus for us from the start.

“With a city as full of landmarks as Dubai, we have had to invest considerable design time in creating something that is future-proof, yet still stands out in the landscape.”

Design details are due to be announced when the apartments go on sale in November, but all will be fitted with balconies, interior multimedia and high-tech finishes and amenities.

Contractor BMG has previously worked on projects including the Mövenpick hotel in Berlin and the BMW works in Leipzig.

http://img42.imageshack.us/img42/4817/cube16wm.jpg


Now, these are too large to post so click the smaller image to go to the larger one:

http://img72.imageshack.us/img72/4269/cube28cb.jpg (http://www.tcfi.de/fileadmin/uploads/Cam_04_01.jpg)


http://img72.imageshack.us/img72/2362/cube32cg.jpg (http://www.tcfi.de/fileadmin/uploads/final_night_01.jpg)



For more go here:

http://www.tcfi.de/index.php?id=333

neat pics. :D

if just all sports city had such a design it'd be my fav project

it will stick out the most i'd say, the rest in sports city is crap compared to this!

if just all sports city had such a design it'd be my fav project

it will stick out the most i'd say, the rest in sports city is crap compared to this!

i agree. :cheers:

From MEED:

BMG squares up to Cube project
CONSTRUCTION UAE
21 Oct 2005

BMG Middle East Construction, a subsidiary of Germany’s BMG Group, is set to start work on the main construction package for the 24-storey Cube residential tower at Dubai Sports City (DSC) in Dubailand, after being awarded the estimated AED 189 million ($51 million) contract. The development, being promoted by a local/German group led by Germany’s Trend Capital, will be located on plot R3B2 next to DSC’s central waterway, called the Arabian Canal.

The project takes its name from its cuboid structure which has been designed to maximise the use of daylight. Germany’s BRT (Bothe Richter Teherani) is the design consultant. The project is one of several residential projects already announced in DSC; others include Rufi twin towers, Champions towers, Shami tower and Eden Gardens (MEED 30:9:05).

Bidding is accelerating on DSC’s infrastructure and building programme. Bids are now due in late October for DSC’s infrastructure and roads package and the first stadium contract. For the infrastructure package, prospective bidders include Wade Adams Contracting, Al-Muhairy General Contracting Company and Bin Hafeez General Contracting & Transport Company, all local. The contract includes the construction of the development’s entire road network, irrigation drainage systems, and power distribution network. The 18-month contract is valued at about AED 300 million ($81.6 million).

At least 12 international groups have been invited to submit bids for the second package, covering the main construction contract for S3, the cricket stadium. Contractor prequalifications are also under way for S1, the indoor stadium.

Tenders are also being prepared for the main academies package, which include a number of hostels, academy buildings and a school complex. Fifteen companies have been prequalified for the package.

Lebanon’s Khatib & Alami is the consultant for the road and infrastructure works. Australia’s Clifton Coney Group is the project manager for the stadia and Germany’s Architekten von Gerkan, Marg & Partners (GMP) is the architect and designer. DSC is the client (MEED 9:9:05).

Attention :runaway:

Same renders, but now in a huuuuuuuge size PLUS 2 new interior views :)


http://www.ftpdeluxe.com/sky/1.jpg

http://www.ftpdeluxe.com/sky/2.jpg

http://www.ftpdeluxe.com/sky/3.jpg

http://www.ftpdeluxe.com/sky/4.jpg

Click on my renders then you'll see how HUUUGE they are ;)

@malec you're right, shame on me :bash: i didn't clicked on your images ....
but at least 2 new inside renders :)
please forgive me :)

absolutely amazing :eek:

glorious tower!!!!

i need sources to get such renders as well

german company = quality renders :D:D

this one is on hold... no one knows for how long. some problems with it getting approval... but no worries it will definitely go through... might take a while though

Malec posted this link before as well a few more renders and pictures of the model

http://www.tcfi.de/index.php?id=333

That gap is on both section of tower but on opposite sides, just hope people using that are do suffer from vertigo

this one is on hold... no one knows for how long. some problems with it getting approval... but no worries it will definitely go through... might take a while though

heard that, too.

well it is german afterall :lol:

There was an advert for this in todays papers and they used this pic:

http://img72.imageshack.us/img72/4269/cube28cb.jpg

Just thought I would share that as all of you were speculating on its approval earlier. :)

website is www.the-cube-dubai.com

http://i43.photobucket.com/albums/e357/sahmad1/ff190158.jpg

http://i43.photobucket.com/albums/e357/sahmad1/4d9e60a9.jpg

this one is available for sale now straight from the developer.. no need to go thru engel n volker

Think inside the box

Opening its doors in the summer of 2008, The Cube, prominently located at Dubai Sports City, will be Dubai's coolest residential property offering its enthused residents an integrated athletics, sports and lifestyle address.

http://www.ameinfo.com/images/news/2/22222-The.jpg
The Cube

Residents of The Cube will be able to truly call their home 'a home,' through The Cube's pioneering introduction of a Home Owners' Association (HOA) that will ensure that residents have a say in what goes on in and around their home. A critical and topical concern that will come as a welcome relief to most Dubai property owners.

With unparalleled views of an urban lake landscape laced with gardens and waterfalls leading your eye to the Sports City Arena, The Cube's chameleon-like attributes appeal to those looking for serenity and lush surroundings as well as those craving activity and adventure.

High-quality stylish studios, one, two and three bedroom apartments, furnished or unfurnished, perfectly combine the invigorating elements of urban landscaping, environmental purity and recreational pursuits. The unique and superior design of the structure will also attract those searching and daring to be different. It all starts with the 'cubic' design.

The brain-child of internationally renowned German architectural firm, Bothe Richter Teherani (BRT Engineering GmbH), The Cube is the first German project in Dubai. Hamburg-based BRT's distinguished multi-billion dollar portfolio confirms the firm's expertise, unique and refreshing design concepts and relentless attention to detail.

In a bid to showcase its evolving and progressive creativity, the team at BRT has designed a solid testament to modern living that captures and optimizes sunlight and space through a pioneering design and the highest quality of materials. A tribute to a life symbiotic with its surrounding environment, The Cube's exterior 'green' satinized glass facade further compounds the core essence of this structure. Every apartment boasts its own large private balcony.

International German contractor, BMG - now based in Dubai as BMG Middle East Development LLC - works to the highest standards and its head, Gerd Wulhert is now based in Dubai to ensure the construction of Sports City's green jewel is executed without the slightest flaw.

According to Wuhlert, 'Our highly qualified and specialized engineers have the long term experience necessary to deliver a successful conclusion to large scale projects such as The Cube. Buying The Cube means buying pure German quality, this is my personal promise.'

The German standard will be seen in every last detail with quality finishing, first grade kitchen equipment, and the extensive use of marble and bright natural stone throughout. The Cube's 26 floors will house 289 generously-sized apartments ranging from 71 to 410 square meters (770 to 4488 square feet).

All residences come unfurnished but for those homeowners interested in simply moving in with their suitcases, The Cube offers three Interior Design styles guaranteed to suit the most discerning taste. The Modern Classic Style reflective of the German Bauhaus period where cool lines meet with leather, glass and stainless steel.

The Fresh Style offers a more contemporary and young look pairing both Italian and German influences. The third and final design option is The Luxury Style oozing sheer glamour through the use of sumptuous fabrics and elegant shades. An Italian-German ode to all things plush.

Outside your private walls of glass, Cube residents will also benefit from two levels of basement parking and the five-star amenities promoting healthy and relaxed living: the Health Garden Club with a temperature-controlled swimming pool, Jacuzzi and spa, in addition to the diverse leisure and recreational amenities just outside your front door.

To preserve a secure and peaceful environment, professional property management company, MAF Dalkia has been appointed to supervise and resolve all maintenance and administrative concerns.

Residential sales for The Cube will be handled by local Dubai real estate firm, Choueri Real Estate (CRE). Established January of this year, CRE comprises a team of industry professionals with a combined regional and international experience and expertise spanning half a century.

Providing a dynamic boutique approach to real estate marketing both in the UAE and abroad, CRE guarantees a professional and personal brokerage service that will make buyers feel at home.

Known as one of the most trusted names in real estate, Principal Laura Choueri, a former broker with Dubai-based Better Homes, along with her co-founders, is dedicated to providing superior individualized service reflective of CRE's founding principles.

With The Cube as CRE's premier development, Ms. Choueri made the following statement, 'Choueri Real Estate is proud to be working hand in hand with such professional visionaries such as BMG and BRT. We believe that our boutique approach to real estate offers our clients the same comfort, care and attention to detail as The Cube will offer its residents. Both The Cube and Choueri Real Estate strive to deliver the ultimate in quality assurance to their clients.'

stupid fucking bastards! Just when I think im settled and have seen everything about Dubai that i need to, uurrrrrrrrrghhhh the idiots go and develop something like this...urghhh dammit...i hate Dubai....i hate you all too for showing this to me...argghh............................er...guys...anyone know how much a studio will cost me, er, please?...I love you all....[shakes wallet]

Naz the cube probably has the best studio apartments in Dubai right now. These are huge (about a 1000 sq ft if i remember correctly from my visit to property week) and so are a little expensive...close to a million dhs..... but they look amazing and worth the price if u can afford them

I contacted this company a week ago now, but still no one has come back to me. Not very good, considering they're selling "premium" apartments. It's all well and good if you know how to develop the best looking towers with the most sophisticated apartments, but if you're customer service (pre-sales and after-sales) is shit, then you've no chance. Maybe this is the same reason why Damac are doing so terribly. Bad customer service. Dubai companies have a lot to learn in this department i'm afraid.

lol this tower has german developers, everything takes longer.

did you contact Engel&Voelkers?

I used the contact details provided on their website, got an automated message a week ago:

Thank you for your interest in The Cube, one of our Sales executives
will call you in the next 24hrs to answer questions you may have.

THE TEAM
Choueri Real Estate

Still not heard anything. I shouldnt have to chase them, they should be chasing me as a potential buyer.

http://www.engelvoelkers.com/start_eng.htm

try here.

Why you thinking of buying in Sport City Naz? Only useful for long term lets I think so you will never get to stay there yourself. Do you think it is cheap enough to get a good rental yield?

Dunno, really, just liked the the whole look...im looking for somewhere to stay, in a few years....not sure if my plans are going ahead..but if they do..i'll need somewhere to live!

The Cube, 8% rental guarantee

UAE Homes is now selling the The Cube Condominium Residences at the Dubai Sports City in Dubailand with an 8% rental guarantee for three years after completion, with no service charges or maintenance fees.

My first attempt at a SSP drawing:


4:1

http://img232.imageshack.us/img232/5892/untitled1copy8ne.gif


1:1

http://img96.imageshack.us/img96/189/untitled2copy4mj.gif


Took me feckin ages!

that's a great drawing! :applause:

its v.good! good work!

R

yeah not bad :D

i couldn't do that ;)

very nice standard filler for this city

What's the big hype with the Cube?

You do realise it's lease hold? For 20 years. You can only stay there for 1 month every year. During the summer. Subject to availability in the first place.

I know someone who is dealing with sales in case you are still interested Naz. But it is one of the most expensive projects. Although they do apparently have quite high standards and a variety of styles and finishes throughout the building.

Hello Koukla
What do you mean by only staying 1 month every year
Is this a timeshare?
Is there a website for this building

Its a hotel serviced apartment, allowing personal usage of upto 30days/year. The hotel group takes care of everything and you have nothing to worry about, and shares the income with you.

Precisely that. So when one buys property in the Cube, he doesn't so much buy it rather than buy INTO the share.
Even when you claim your 30 days stay, there is no guarantee you will get it (as it might be fully booked) and very slim chances it will be the exact appartment you paid money for.

no more picture of the project? actual picture of the site?
When the costructions starts? When finish?

There is somebody here?????????
No more information or picture??

Imre, do you have any pictures of The Cube???

^^ i doubt u'll see much.

good design ;)

Idd live there awsome stuff.

I work for the developer - bmg middle east development - if you guys want pictures or more info let me know. be happy to help

info about construction?

well i can provide you a certain amount of information - i dont want to see the cube being built somewhere else

what is the status of construction? can u provide some pictures of site?

construction should begin within the next couple of weeks - i have pictures of Dubai Sports City although mainly construction of the cricket stadium on my camera but i dont have the cord to link to my laptop, so maybe tomorrow?

Yes!!!!!! Pleaseeeee!!!

Does anyone knows anything about this project. When this is going to start or is it starting at all????

:deadthrea SATAN????

is this project still on, i am thinking about purchasing any info would be great

thanks

I work for the developer - bmg middle east development - if you guys want pictures or more info let me know. be happy to help

If you work for MED then you must know where the construction of Kensington Royale stands:cheers:

About to hand over 2nd payment on a studio in the Cube, slightly worried as we have heard zero from developer, have contract and completion date is now pushed out til 2009. Anyone hear anything

I have spoken to the developer on 27/06/07. The construction is already started.

several images both before and since the start of excavation are displayed on http://www.dubaiproperties4sale.com.

http://www.dubaiproperties4sale.com/the-cube.htm (http://http://www.dubaiproperties4sale.com/the-cube.htm)


I hope that helps.

Does anyone know if the excavation of the cube is complete ? If so any recent pictures ?

No excavation not complete.

At a depth of about 9 metres, but as Cube will have four basement levels we need to get to a depth of 16 metres.

Things have slowed now as the shoring is now being started before we can go much deeper.

oh, one last thing for worried1.

please dont confuse BMG Middle East with MED.

Hi Satan, thanks for the info.
I didn't know what shoring was until I looked it up. How long does it take to set up and secure the current excavation site?
Also if there is going to be four basement levels surely the excavation has got to go a lot deeper then 16 meters. Don't you need a concrete foundation below the basement ?

14 metres for the basement levels themselves, two and a half metres for the concrete foundation and another 60cm for waterproofing and protection etc

14 metres for the basement levels themselves, two and a half metres for the concrete foundation and another 60cm for waterproofing and protection etc

I see that's quite detailed info you have there. Do you know how much time has been scheduled in the project plan to finish excavation ?

certainly do know!

sub-contractor has to handover the plot in October

Satan,
Do you have a timeline of the various construction phases for the project plan? It would be quite interesting to know what is supposed to be occurring at a specific time periods.

sub-contractor has to handover the plot in October

dont want to dissappoint but I don't really want to post a construction time table on an open forum because that means people with no real interest in this project would know more than our investors. I dont think any of our existing clients would be impressed.

^^ what kinda rubbish reason is that for not giving an update?

I have no problem providing regular updates

^^ then please do. We all would like to see what the site looks like.

want to post some photos of the site, is that possible??

yes

want to post some photos of the site, is that possible??

If the question is how does one attach pictures to this forum. I think you just click on the advanced tab and click on insert picture icon and then enter the location of your picture.

Dear Investor



It is with great excitement that I can inform you that The Cube Condo Residence in Dubai Sports City is now under construction.



Excavation work began on plot R3b-2 Dubai Sports City on the 15th of June 2007. Dutch Foundation, an experienced and respected local contractor, were successful at the conclusion of the tendering process and have already made significant progress (as shown in the attached photo). At a depth of 8 metres which is half of the final depth of 16 metres Dutch Foundation has already removed over 60 000 cubic metres of rock and sand. The ‘pit’ which is being excavated for The Cube will be the deepest in Dubai Sports City and once completed will allow work to begin on the foundations and four basement levels for parking.



I would also like to take this opportunity to inform you about the latest addition to The Cube, LOXYMED (www.loxymed-berlin.de), which will form part of The Cube’s Sport Spa. Looking at the multitude of beauty spas in the Dubai market, BMG approached Schletterer Wellness and Spa Design (www.schletterer.com) with a desire to offer an outstanding sport and lifestyle facility with wellness and spa offerings but with the addition of sports medical services. Such a concept was appealing when combined with The Cube’s prominent location in the world’s premier sporting destination, Dubai Sports City and the philosophy which surrounds the entire development.



For decades training at high altitudes has been a regular part of any elite athletes program and it continues to be the greatest factor in tapping performance reserves for top athletes.

The innovative technology of LOWOXGYGEN (trademark) makes it possible to simulate high altitudes without changing the air pressure, this can be achieved at low altitudes in a room of any size and for any length of time both comfortably and safely. Not only for athletes, LOXYMED has shown to have benefits for everyone, including the treatment of:



· Immune system strengthening

· High blood pressure or high cholesterol

· Chronic bronchitis and bronchial asthma

· Diabetes

· Coronary heart problems

· Recurring infections.



With the addition of this concept it is intended that The Cube will be THE DESTINATION for athletes and health orientated people.



If you would like any details about The Cube or have any questions regarding the information contained in this email, please do not hesitate to contact me.



Sincerely




....

http://C:\Documents and Settings\adeel\Desktop

guys... can someone please tell me how to post pics on this forum... i tried but failed.. im a bit outdated with computers

it says... insert URL.. if i have a picture on my desktop for instance, then what will be its URL?

THANKS

...

c:\sunset.jpg

I don't know, I tried to upload a test image. The help says that there should be an attachment button. But I can't find it, the help is pretty crap.
It would be good if an administrator specifies a clear message on how this can be achieved. I think you attach the image and then use the insert image button. Perhaps some other clever clogs can enlighten us if they have managed it.

go to www.imageshack.us and upload it there. Then post the link in this box...

http://img249.imageshack.us/img249/6342/dsc070817011tk3.th.jpg (http://img249.imageshack.us/my.php?image=dsc070817011tk3.jpg)




...

thanks julito...



...

^^ Is that because in a few years, Dubai will have eaten up pretty much most of what is currently Abu Dhabi?

Hi Doctor_UK can you tell us when the picture was taken. Satan, have you got any recent pictures ?

that is a recent photo - one or two weeks old!!

site photos from the 6th of September

http://img179.imageshack.us/img179/8135/dsc07090604nc4.th.jpg (http://img179.imageshack.us/my.php?image=dsc07090604nc4.jpg)
http://img256.imageshack.us/img256/7468/dsc07090612qb3.th.jpg (http://img256.imageshack.us/my.php?image=dsc07090612qb3.jpg)

Hi Satan, it looks like some good progress has been made on the excavation front. How deep have they dug now ?
Do you think they will make the October deadline for handing over the excavated plot ?

http://www.unityestates.com/Propertyimages/Dubai/TheCube/lobby.jpg

Cube investors feel good to see that BMG is providing the construction progress information and pictures on their web site. Go Cube!

^^ any info , any updates about cube do it like 007 :) make it for show ...

this is not freehold but leasehold? If it is, I do not see why anyone would buy into this project......

I thought its a freehold, thats how it was advertised everywhere.

We can find out from BMG. Please post if anyone has info on this.

When i received my contract it was for a 99year leasehold contract, have
been assured eventually become freehold.

I was surprised as i thought it was freehold also.

so it is leasehold..... nice tower though.... but since it is leasehold you do not actually OWN it....

^^ It's not quite that simple, you own the apartment but not the land it actuall stands on, most homes in the UK are similar so you pay something called ground rent in the UK which is minimal.

Also most leaseholds have a clause in it which states auto renewal after 99 years

When i received my contract it was for a 99year leasehold contract, have
been assured eventually become freehold.

I was surprised as i thought it was freehold also.
Was your contract dated prior to march 2006. I think the new law allows foreigners to own land too in DSC. Need further research on this new law.

the above development pictures of the cube are possibly suspect!
i,m not 100% on this but i will post some pics soon!
ps. when my good daughters boyfriend comes round to upload them for me!

I have got the feelling that amplesou is suspect.

What a stupid thing to say without some evidence, you can see investors are reading this thread and I know this type of negative comment would concern me greatly, so please try to get your facts right, before posting!!

In response to all previous concerns regarding Freehold/Leasehold. All new purchasers of The Cube are receiving Freehold Sales and Purchase Agreements from BMG, all previous investors will be informed by letter which will accompany the latest Investor Update that we have all the necessary supporting documents from Dubai Sports City and Dubailand LLC now that The Cube is 100% a Freehold development.

As I know whole of Dubai sports city is freehold now, somebody can correct me if I am wrong.

Great, thanks for your posts Satan and Friendship...keeps the thread alive with latest info on The Cube.

Do any of you know if BMG has increased the price from Nov 1st ? The prices were supposed to go up by 5% - 10%. Thanks.

[QUOTE=satan;16176322]I have got the feelling that amplesou is suspect.

What a stupid thing to say without some evidence, you can see investors are reading this thread and I know this type of negative comment would concern me greatly, so please try to get your facts right, before posting!!

hi there !
i can assure you i am not suspect !(in my eyes anyway!)
i am convinced that the first photo is imposed onto the second with the cricket stadium behind it !
i was on site 2nd week in october and i did not see this construction and hopefully my photos will support this!
Hopefully i will show soon maybe this sunday!

http://img520.imageshack.us/img520/8121/dsc07102905vw7.th.jpg (http://img520.imageshack.us/my.php?image=dsc07102905vw7.jpg)

sorry guys this is the only new image I have under 1 MB, are there any alternatives? Or do I have to start taking pictures with a lower resolution?

http://img213.imageshack.us/img213/7056/dsc01804qa6.jpghttp://img263.imageshack.us/img263/239/dsc01805jc5.jpghttp://img403.imageshack.us/img403/1614/dsc01831kc2.jpghttp://img403.imageshack.us/img403/2365/dsc01806lr8.jpghttp://img213.imageshack.us/img213/4328/dsc01811ln0.jpghttp://img263.imageshack.us/img263/4634/dsc01817mt5.jpghttp://img213.imageshack.us/img213/2824/dsc01810rl2.jpghttp://img263.imageshack.us/img263/5310/dsc01812wd8.jpg
It was here somewhere!

http://img520.imageshack.us/img520/8121/dsc07102905vw7.th.jpg (http://img520.imageshack.us/my.php?image=dsc07102905vw7.jpg)

sorry guys this is the only new image I have under 1 MB, are there any alternatives? Or do I have to start taking pictures with a lower resolution?

you should resize your pictures in photoshop or in the GIMP. Although the picture will become smaller the MBs will disappear soon. :)

Thanks for your and amplesou's pictures btw. great to see this building growing out of the dessert.

you should resize your pictures in photoshop or in the GIMP. Although the picture will become smaller the MBs will disappear soon. :)

Thanks for your and amplesou's pictures btw. great to see this building growing out of the dessert.

My brother is a GIMP fanatic! It's ridiculous the things he can do with it! He once edited an iPhone picture from the Apple site to include a picture of himself on it and it looked like part of the original image! Anyway, I'm sure this building will keep the giant scoops of vanilla bean and the warm chocolate brownies company.:lol:

I think most people realise that amplesou's picture is taken nowhere near The Cube's location. The photo you have taken is at the entry of DSC (I can tell by the guard 'shack' on the left of the photo) so I am guessing you were not allowed in. I am not sure why you would post a photo claiming to be of The Cube site that quite clearly is not, do you have something against The Cube/BMG??
If someone from this forum is in Dubai I would be happy to take them out and show them the site and then they can confirm the legitamacy of the images. I must say I am more than a little surprised that people think anyone would post fake photos, it doesnt take much to be found out.

amplesou,
Please post your response to satan's post. Thanks.

Non-residents get misled easily in these forums.

The design looks good.

i think it is down to satan to show that i have made an era of judgement and i apologize for this! Go there and take your camera satan,i did,nt get in your right !but the cube pictures look very close to the cricket stadium from what you have taken! Once again sorry if i caused grief!!

http://img292.imageshack.us/img292/3883/cricketstadium3sq0.th.jpg (http://img292.imageshack.us/my.php?image=cricketstadium3sq0.jpg)

This is a pretty good indication of The Cube's location viewed from the air and behind the DSC Cricket Stadium. (The Cube is the one with the green fence, above and to the right of the stadium)
Just so no-one can question the authenticity of this image it is from the Dubai Sports City October Update which you can download yourself from
ww.dubaisportscity.ae/newsletter/newsletter-september-2006.html. The image is taken from page 53 called Construction News.
Hopefully this should put the issue to rest!!

Thank you Satan and amplesou for trying to keep us informed :-)

http://img404.imageshack.us/img404/8672/dsc071108113ol1.th.jpg (http://img404.imageshack.us/my.php?image=dsc071108113ol1.jpg)

photo from last week, thanks to Tag One on how to get the size down so I could host it.

Just received the investor update newsletter from BMG confirms what Satan says regarding The Cube is now a freehold property. Also some exciting new developments regarding partnerships with top leisure companies,looking like good long term investment. Only downside The completion date has been pushed out til end 2009. Always thought this would be more likely completion
for this scale of project.:):)

Photo of the first 'Cube' bathroom already built and on display at the Big 5 exhibition at the Dubai Exhibition and Convention Centre

http://img405.imageshack.us/img405/3750/dsc07112406hq3.th.jpg (http://img405.imageshack.us/my.php?image=dsc07112406hq3.jpg)

Wow.. things are looking good for the cube. This is an awesome development. Freehold even better:)

And it also lights a small hope that more of BMGs mindblowing projects might come intro fruition..! :cheers:

they only thing we gaat is that bathroom pix ... COOL

According to the latest investor update the cube will have a webcam on it soon. This will allow anyone to check the latest visual updates.

Hi I was at sports city about 10 days ago and saw the cube site.
Extremely large hole in the ground
All the excavations are finished and it is ready for next step which would be dewatering
etc I presume.
Most of the other plots are still just excavating .
There is very little building going on yet,just all the gallery villas and victory heights which are mostly just shells at the moment
There are a couple of buildings next to Sports tower one (next to to cube) which are at about 4th or 5th floor..(R3a plot 17 & 18) I think.
I reckon construction should kick on during the coming months for most projects

Also some schools being built at the other end of the canal near south point .
No photos due to sandstorm blowing through at the time I was there

Sungwon bags AED 300 million contract to build The Cube, a 5-star hotel apartment for renowned German developer BMG
Press Release


Be the first to comment on this article


19 February 2008
Deal at International Property Show is Sungwon's second big win in a week

Dubai, UAE 19 February 2008: Sungwon Corporation, one of the largest integrated construction companies in South Korea, has won a lucrative contract worth AED 300 million to build The Cube, a 5-star 26-storey Hotel Apartment building for renowned German developer, BMG Middle East Development, at Dubai Sports CityDubai Sports City
Dubai Sports City
News | Profile | Officers
.

Sungwon clinched the deal to build The Cube during the International Property Show in Dubai, making it the second big win in a week for the South Korean construction company, following its contract to build the Silver Star Tower, a AED 400 million state-of-the-art officer tower for German developer Trend Capital at Business Bay.

The Cube is BMG's debut project in the Middle East, and is a unique concept that promises ownership of a hotel apartment. BMG Middle East Development is a subsidiary of the BMG Group in Germany.

Announcing Sungwon's latest win in the Middle East construction sector at a project signing ceremony at the International Property Show on 19 February, Mr. Chang-Pyo Park, CEO of Sungwon's Middle East Headquarters and General Manager of the Dubai Branch, said that The Cube project represented yet another opportunity for Sungwon to prove its capabilities as a builder of world-class apartments, and showcase its expertise in leisure developments, in addition to residential and commercial projects.

The agreement was signed by Mr. Chang-Pyo Park and Mr. Gerd Wuhlert, Managing Director, BMG Group in the presence of the founder and Chairman of Sungwon Corporation, Mr. Yoon-Soo Jeon. The ceremony was also attended by Mr. Richard Lee, Vice President of Sungwon (Dubai Branch) and Mr. Sebastian Foerster (Technical Director, BMG) and Mr. Hendrik Atzert, Sales Director at BMG.

The Cube will offer investors and individual buyers a choice of 1,2 & 3 bedroom units, as well as Executive Studios and studios. The hotel apartment building will feature a range of residential, leisure and sports facilities including an ultra modern sports spa, a pool area with "Aqua Gym" facilities, medically monitored wellness area, restaurants, business centre and a high-quality residential complex, in addition to four parking levels with access ramp for 592 parking spaces. Construction work is set to commence in March 2008 while the project is expected to be completed at the end of 2010.

Mr. Chang-Pyo Park, CEO of Sungwon's Middle East Headquarters and General Manager of the Dubai Branch, said: "Sungwon is proud to join hands with a well established international player like the BMG Group, for our mutual benefit. It is a great honour to be awarded the construction contract for this exciting apartment concept. The Cube project is a great opportunity for Sungwon to showcase its expertise not only in the construction of high rise residential development but also in luxury leisure apartments. As we rapidly expand our presence across the UAE, we wish to further enhance our credibility as a trustworthy construction company by delivering projects on schedule in line with our motto, Quality on Time".

Mr. Gerd Wuhlert, Managing Director of BMG, said: "We are delighted to place our trust in Sungwon, a reputed company that has proven its capabilities in meeting delivery deadlines without compromising the quality of construction. With The Cube, BMG is seeking to set a new standard of luxury living whilst offering investors a high return on their investment. Over the years, Dubai's hotels have averaged more revenue than any other hotels worldwide. Therefore, ownership of a hotel apartment, and that too in one of Dubai's most promising locations at Dubai Sports CityDubai Sports City
Dubai Sports City
News | Profile | Officers
, is one of the most lucrative and sustainable options available to those looking to invest in real estate".

Mr. Richard Lee, Vice President of Sungwon (Dubai Branch), said: "Our position in the Middle East continues to grow on the strength of our long heritage of delivery on time, the finest architectural and engineering expertise and property services. It is in this context that we foresee a great partnership with BMG Middle East Development. The Cube will be an iconic landmark that is both well-planned and designed to the highest specifications".

Sungwon, which has its Middle East headquarters in Dubai, has earmarked over US $ 1.2 billion in investments over the next three years for the property development sector in the region, almost half of which has been already pumped into building unique world-class lifestyle developments in Dubai's Business Bay and Culture Village, two landmark property hubs being developed by Dubai PropertiesDubai PropertiesLoading....

Sungwon is also carrying out civil works projects in Bahrain and Qatar including roads, highways and sewerage pipelines. Sungwon is currently carrying out work on a massive flyover at the Isa Town Gate Intersection in Bahrain. That contract is worth AED 400 million. Sungwon plans to officially launch its civil works contracting services in the UAE, and participate in several other large infrastructure projects in the country.

In addition to the Middle East, Sungwon is already playing an active role in construction and property development projects in several other countries outside South Korea including Kazakhstan and other parts of South East Asia. Sungwon owns golf courses and is renowned for building the FIFA World Cup stadium in Korea, roads, highways, rail, rapid rail, subways, bridges, tunnels, ports and airports.

-Ends-

About Sungwon:
Sungwon Corporation is a large integrated real estate, construction and engineering company that has built a solid reputation as a property developer and contractor of award-winning luxury high-rise residential/mixed use complexes. Sungwon has been introducing architectural masterpieces in every major city of Korea, and has built over 135,000 apartments and 1,000 high-rise towers. It specialises in high rise mixed-use complexes, civil works, environmental plants and special projects, including championship golf courses, world class stadia and resorts. In 2005, Sungwon completed 52 commercial and residential projects, and currently has over US $ 3 billion worth of projects under construction.

About BMG
Having completed over 4 billion euros worth of projects in Germany and domestic Europe, BMG Group has a strong reputation for delivering outstanding quality and client satisfaction. BMG has diversified business interests, and offers a range of construction and engineering services. BMG's engineering office supplies all construction and services related to construction client support such as services in the planning, construction, conversion and renovation of buildings, outdoor installations, space-creating extensions, engineering structures, transport network installations and technical equipment. BMG's projects include the railway tunnel from Potsdamer Platz to the Reichstag in Berlin-Tiergarten, the Federal Ministry of Transport in central Berlin, the Federal Ministry of Defence in Berlin-Tiergarten, the 5-star Movenpick hotel in Berlin-Kreuzberg and the BMW factory in Leipzig.

Sungwon wins Dh300m contract

Published: February 20, 2008, 00:53

Dubai: South Korean contractor Sungwon Corporation has won a contract worth Dh300 million to build The Cube, a 26-storey hotel apartment building, from German developer BMG Middle East Development at Dubai Sports City.

Sungwon clinched the deal to build The Cube during the International Property Show in Dubai, making it the second big win in a week for the South Korean construction company, following its contract to build the Silver Star Tower, a Dh400 million office tower for German developer Trend Capital at Business Bay.

The Cube is BMG's debut project in the Middle East, and is a unique concept that promises ownership of a hotel apartment. BMG Middle East Development is a subsidiary of the BMG Group in Germany.

Chang-Pyo Park, chief executive of Sungwon's Middle East headquarters and general manager of the Dubai Branch, said that the project represented yet another opportunity for Sungwon to prove its capabilities.

The agreement was signed by Chang-Pyo Park and Gerd Wuhlert, managing director, BMG Group, in the presence of founder and chairman of Sungwon Corporation Yoon-Soo Jeon.

This is very good news for the investors in this building.

Sungwon is reputed and i believe the quality will be top class ..

What is the price in this now?

Has the completion date for the cube been pushed to the end of 2010 ?

From the last investor update it was pushed out til end 2009. If you have any new info please post.

From the last investor update it was pushed out til end 2009. If you have any new info please post.

I was just quoting the details from Cube007's last post. I thought end of 2009 was the completion date too.

Has the completion date for the cube been pushed to the end of 2010 ?

Looks like it, this article is from www.zawya.com

The completion date is still end of 2009, as confirmed by bmg.

The completion date is still end of 2009, as confirmed by bmg.

Great! If we don't have to wait another year to get some returns on this investment.

Do you know if any banks are offering loan for The Cube?

Thanks.

Great! If we don't have to wait another year to get some returns on this investment.

Do you know if any banks are offering loan for The Cube?

Thanks.

I think there are quit a few banks offering finance, have a look at
http://www.letsdubai.com/mortgages_dubai.html

Hi People, thought you might like to see the finished excavation pics, I will also host some of the dewatering activities that are currently taking place. If there are any existing investors reading this, the next Investor Update will be couriered at the end of this week, as long as the printers can keep to our deadline.

http://img143.imageshack.us/img143/2964/dsc071208004nh1.th.jpg (http://img143.imageshack.us/my.php?image=dsc071208004nh1.jpg)

Thank you very much for your efforts to keep us updated. Do you know of any particular bank(s) that offers loan to non-residents for this project yet?

finance in DSC for non-residents is still an issue, so at this stage no there is no pre-approved finance available for The Cube, but we are still working on it.

Thanks for the update Satan! Any idea when they start piling work?
Btw also great to see the stadium rising :)

http://img258.imageshack.us/img258/236/stadium1fh6.jpg (http://imageshack.us)

http://img175.imageshack.us/img175/2714/cube1ev2.jpg (http://imageshack.us)

http://img337.imageshack.us/img337/7646/cube2fr1.jpg (http://imageshack.us)

http://img175.imageshack.us/img175/3549/cube3zb8.jpg (http://imageshack.us)

Ground Ground too a halt then!
they dug that hole six months ago!

When I went to have a look, there wasn't much going on. I think they are possibly waiting for Sungwon to mobilise. Satan would probably know more.

hi to all
any one can tell me how much the studio apartment in the cube
thankkkkkkks

I think they are approx £115K to £140K depending on sq footage

http://i43.photobucket.com/albums/e357/sahmad1/ff190158.jpg

http://i43.photobucket.com/albums/e357/sahmad1/4d9e60a9.jpg

From model you can find it's G + 26 Floors...

It seems to have gone quiet in Sports City. Does anyone know when things will move on?

It seems to have gone quiet in Sports City. Does anyone know when things will move on?they have,nt got a builder on board yet! they just got some local comp in to dig a hole so investors think there building !

amplesou strikes again, no facts just bulls**t!!
maybe you would like to refer to the previous page of posts regarding Sungwon/BMG or check out this article on AME info - http://www.ameinfo.com/147492.html.
Yes, BMG are now just waiting on Sungwon to kick off, from what I understand Sungwon will start shifting to the site today.

The Cube is BMG’s debut project in the Middle East, and is a unique concept that promises ownership of a hotel apartment. BMG Middle East Development is a subsidiary of the BMG Group in Germany.
all sounds a bit experimental to me!
I thought they (BMG Group) where a music group like emi records!

amplesou..
condo-hotels are not a new concept have been around for some time now.. maybe new in dubai, i dont know ... but you can invest in these types of units in US/carribean/thailand etc they generally give a good ROI.

For project update check http://www.bmg-group.de/thecube/index.php?en_cw-update . This is the original developer website of the cube. I think it can be ready in 2010-Q1.

To find the developer webpages I suggest to use DubaiHomeSearch: http://www.dubaihomesearch.com/projects.php . It is simple but I believe good resource.

http://www.blucaproperties.com/images/Dubai/The%20Cube/The%20Cube%20Price%20List.pdf

:cheers:

Does anybody know if Sungwon have actually mobilised on site and if so have they actually started construction work ?

Hi guys, visisted DSC/The Cube earlier this week. Sungwon is nearly finished the site office and they are in the midst of final ground preparation ready for waterproofing and then concrete.

http://img72.imageshack.us/img72/773/dsc051252vx9.th.jpg (http://img72.imageshack.us/my.php?image=dsc051252vx9.jpg)

http://img359.imageshack.us/img359/9925/dsc080609082ii0.th.jpg (http://img359.imageshack.us/my.php?image=dsc080609082ii0.jpg)

http://img244.imageshack.us/img244/8039/dsc051142rt0.th.jpg (http://img244.imageshack.us/my.php?image=dsc051142rt0.jpg)

Satan, has the waterproofing started ?

Thank you Satan. Looks like Dec 2009 delivery is possible. Hopefully the soaring inflation does not cause delays!

jimbo - I dont think the waterproofing is finished but here are some more site preparation photos

http://img180.imageshack.us/img180/8052/dsc080706152qh6.th.jpg (http://img180.imageshack.us/my.php?image=dsc080706152qh6.jpg)

more to follow, having trouble hosting the rest

^^ Thanks for the picture Satan, I'm looking forward to your other ones :)
Looks like they are making good progress on the excavation of the caissons.
The ground looks rocky, so no piles are needed I suppose?

@cube007. Dec next year sounds impossible to me. Expect at least 6 months delay.

still cant host on image shack will try again tomorrow.

tag one - no piling required, foundation slab only, and completion still set for end of next year

Thanks for your update Satan. We all appreciate it alot!

Yeah, great photo's keep them coming.......Really excited to see progress at last....

Having invested in the Cube (21.08) and struggling for the last YEAR+ to get any progress information out of BMG, bar the newletters. The discovery of this forum and the recent posts by "SATAN" have somewhat renewed my faith, in staying with the project. The lack of progress & information has driven me to the point of selling, I'm still very unhappy with the mushroom treatment by BMG.
Satan your a star :bow:

Having invested in the Cube (21.08) and struggling for the last YEAR+ to get any progress information out of BMG, bar the newletters. The discovery of this forum and the recent posts by "SATAN" have somewhat renewed my faith, in staying with the project. The lack of progress & information has driven me to the point of selling, I'm still very unhappy with the mushroom treatment by BMG.
Satan your a star :bow:
"Mushroom Treatment" o i know fill you full of sh-t and keep you in the dark!
The cube i mean its still a hole just a bigger hole, hey don,t start party time just yet!

amplesou have you ever posted anything of substance? But I must say you have an impeccable sense of timing, as it is not just a bigger hole - it is a bigger hole with concrete!

Granty666, I hear what you are saying but how many other developers are even sending newsletters to their clients, at least you get something out of BMG. I would appreciate comments from anyone about how other developers are communicating with their clients, so I can steal the best ideas :). My clients are happy with what they are getting from BMG, but I suppose you cant keep everyone happy. I know the website could use some work with updates etc, but leave that with me.

http://img144.imageshack.us/img144/918/1002142ja0.th.jpg (http://img144.imageshack.us/my.php?image=1002142ja0.jpg)

Party on!!

[QUOTE=satan;22653978]amplesou have you ever posted anything of substance? But I must say you have an impeccable sense of timing, as it is not just a bigger hole - it is a bigger hole with concrete! http://img356.imageshack.us/img356/4299/1002142ja0thtt4.jpg
i think i have posted more content on here regarding dubai sports city than any body else! ( see canal residence west earlier posts !)
tell ya what !
they just dug a hole and started slapping cement everywhere !:bash::lol: i have never seen construction like this !:nuts: looks a bit gerry made to me!:cheers:
may be they are BMG records ( music ) after all!:ohno:

I also have to say that I think it's a strange way to start a construction. I miss a lot of concrete and steel in bottom of the the construction, but we'll see.
Hope it's going to be a brilliant building. I have to look at it from the other site of the lake. :D :D :D

Rob timpie, do you know if elite sports residence 1 and 2 are out of the ground yet? regards

Rob timpie, do you know if elite sports residence 1 and 2 are out of the ground yet? regards

There's a forum for the Elites Residences.
Don't think they're out of the ground yet... :ohno:

http://img74.imageshack.us/img74/8396/dubsportscitymay08ne7.th.jpg (http://img74.imageshack.us/my.php?image=dubsportscitymay08ne7.jpg)

By the way, those 2 towers you see are not the Elite towers but, I guess, the Falak Towers. Al the other developers are just "digging holes". :nuts:

I also have to say that I think it's a strange way to start a construction. I miss a lot of concrete and steel in bottom of the the construction, but we'll see.
Hope it's going to be a brilliant building. I have to look at it from the other site of the lake. :D :D :D

Not strange at all. The concrete you see in the picture is the first layer of concrete for the water proofing. On top of the concrete they will put a layer of bitumen based sheeting. Over this layer they will pour a second layer of concrete. So in total the waterproofing contains 2 layers of concrete with 1 layer of bitumen sheeting between it.
When the waterproofing is completed than the rebar for the foundation is installed and a thick (2-3 meter) layer of concrete is poured.

This method has been used many times in situation where piles are not needed. For example in Business Buy.
Although we are still a few months away from rising we can see the progress on the site very well :cheers:

Tag one,

Thank you for your explanation. Obvious you are much more technical than I am.
And, beleive it or not, I understand what you are explaining. :nuts:
But most important, I hope it's going to be a beautiful building to look at.

Great explanation! So in your view, how long do you think it will be before we see is break ground level - about 3-4 months ?

Thanks:nuts:

http://img262.imageshack.us/img262/8167/dubai080728025vg5.th.jpg (http://img262.imageshack.us/my.php?image=dubai080728025vg5.jpg)

would this be the start of the waterproofing you are taking about Tag?

I have had it confirmed that the building will be above ground level in three maybe four months. Apparently this stage is A LOT slower than the tower levels due to the size and complexity.

^^ Thanks for the picture Satan, and yes it looks like water proofing has started. :cheers:

The first floors are always very slow as no one is used to the the lay-out of the floors yet. Especially placing the rebar and the ducts for electricity and communication in the floor take a lot of time in the beginning. After a few floors the workers know where they have to put everything and how many steel bars per meter are needed and work will speed up :)

Satan, TagOne, others, thanks a lot for your input. I just sent my quarterly payment, feels good to know the progress. Keep posting!

Thanks again :-)

BMG website is finally providing up to date photos - http://www.bmg-group.de/thecube/index.php?constructionworksupdate

Cheers Satan... good pics

one thing i have been wondering about with price increases seen on the cube
how does the rental return work out..from memory it is based on room rate*occupancy and 50/50 revenue split with hotel operator... and there was talk of minimum return of 10% for 3 years is the return based on purchase price or price on completion. Can someone confirm.

Cheers Satan... good pics

one thing i have been wondering about with price increases seen on the cube
how does the rental return work out..from memory it is based on room rate*occupancy and 50/50 revenue split with hotel operator... and there was talk of minimum return of 10% for 3 years is the return based on purchase price or price on completion. Can someone confirm.

No minimum return guaranteed on the cube so no issue as to whether it is based on start price or end price!

The following website gives interesting indicative yields (depending on when you bought!)

http://www.unityestates.com/PropertyPages/Dubai/TheCube/The-Cube-Dubai-Sports-City.htm

one from BMG website.....

http://i33.tinypic.com/1jrakl.jpg

Thanks for the repost from the BMG site Demon! I checked the other pictures as well and they are making excellent progress. Waterproofing seems to be in full swing and is nearing its completion. They've also installed the base of the tower crane and installed the first rebar of the raft foundation around it.
With a bit of luck the rebar work of the foundation can be completed by the end of the month :cheers:

Some more Cube construction pictures have appeared on their site. Keep up the good work BMG.

Satan what is happening with The Cube Webcam ?

Some excellent pictures from the BMG website:

13 September, Connecting the base of the tower crane with the foundation rafts:
http://www.bmg-group.de/thecube/content/images/99f1894346e551b71e6399cd43221afb.jpg

23 September, installing rebar for the raft:
http://www.bmg-group.de/thecube/content/images/f63090d7fe5be45b7cf676dbef4f9824.jpg

http://www.bmg-group.de/thecube/content/images/219ca9e18d0676e9005be1598661f41b.jpg

As you can see BMG is making some excellent progress! Waterproofing is finished and they are currently installing the steel rebar bars for the raft foundation. The rebar work for the caissons seems to be almost completed. I guess we will see the big concrete pour for the foundation in 3 or 4 weeks :cheers:

I found something exciting, DSC has started signing deals with Cricket teams.

Link http://www.gulfnews.com/sport/Cricket/10247777.html

Let me know your thoughts on this investment 2010 and beyond.

Thanks :cheers:

More great pictures from the BMG Group. Pictures are taken on the 25th of September.

Pouring concrete in the caissons:
http://www.bmg-group.de/thecube/content/images/076d983c1d4554eba4bc91202ea6f538.jpg

http://www.bmg-group.de/thecube/content/images/334273072f8e6c3deac56607011d3800.jpg

http://www.bmg-group.de/thecube/content/images/2b47130c8d556b1193515c29149c248d.jpg

Final check, counting the rebar:
http://www.bmg-group.de/thecube/content/images/b9a1f304e13d25b425286972c22e739d.jpg

:cheers:

Check out the new photos on the BMG web site.

^^ Welcome to SkyScrapercity Coconuttam :banana:

Great to see BMG is posting quality pictures on such a regular base!
A nice overview shot from the 5th of October, the first tower crane is in place:
http://www.bmg-group.de/thecube/content/images/7dee6a8a8cfa57a719dc9f136b9e86de.jpg

You can also see the progress on the rebar installation of the foundation:
http://www.bmg-group.de/thecube/content/images/37848acf213d168423ba2f44ea1692aa.jpg

http://www.bmg-group.de/thecube/content/images/995a288243fdfc6b140ce2f097bfbec0.jpg

Inspecting the rebar:
http://www.bmg-group.de/thecube/content/images/837209148b0edd5374ea868738c6cc28.jpg

The proud men who make it all possible :)
http://www.bmg-group.de/thecube/content/images/b5e5969595b709f1da0c146830c30a40.jpg

:cheers:

Been following the site for some time now, invested way back in March 2007. At that time completion was Dec 2008.

Been following the site for some time now, invested way back in March 2007. At that time completion was Dec 2008.

Have a feeling they're not going to make that... :lol:

New pictures from the BMG (http://www.bmg-group.de/thecube/index.php?constructionworksupdate)
The pictures are taken on the 14th and the 19th of October. Work on the foundation has progressed a lot and is nearing completion. The first rebar layer is completed and the second layer will be finished within a few days. With a bit of luck they will pour this Friday or next Friday.
Enjoy! :cheers:

Working between the two layers of rebar, this place will be filled with concrete once the foundation is poured:
http://www.bmg-group.de/thecube/content/images/48a3382ab23319e5bdee5fbc72d5efe0.jpg

A nice overview where you can see the base of the second tower crane, the top of the second rebar layer and the first pieces of rebar for the columns of the first basement level:
http://www.bmg-group.de/thecube/content/images/5e986ca3553c1d7c08c23d120d3d3204.jpg

http://www.bmg-group.de/thecube/content/images/3a7efa52a7c8268ae12770a1da41beb7.jpg

And the last one, an elevator pit:
http://www.bmg-group.de/thecube/content/images/b667b5179eb4798864bebfd931fb8dda.jpg

Oh and did you knew this construction site is environmentally friendly :lol:
http://www.bmg-group.de/thecube/content/images/bf22d80ec452c24a1c1d4e7110a61c96.jpg

:)

Nice Pictures, Good to see Sports One will be finish around the same time too ;)

234 Sale. You did a very informative chart of construction progress for different developments on one of the other threads - I think Business Bay.

Maybe you could do one for Sports City? I know Id enjoy that?

Check the BMG website, new pictures!!

Party time!
Last week the BMG finished the biggest part of the Cube's foundations. About 6.900 m3 of concrete was poured during a 48 hours concrete pour.
From now on the Cube will start to grow :banana:
The pictures are a week old :)

http://www.bmg-group.de/thecube/content/images/f631a3e051bff3f04229fbf0f3130ef4.jpg

http://www.bmg-group.de/thecube/content/images/5380b0b3984c48260c820ccab07c6437.jpg

http://www.bmg-group.de/thecube/content/images/5d2dd56a62001c250489568bd019f989.jpg

Inside the foundation:
http://www.bmg-group.de/thecube/content/images/9c6f84cdada228c35e754f42f121452e.jpg

http://www.bmg-group.de/thecube/content/images/4d525fd20f58271a6d63d809a0fd78d1.jpg

http://www.bmg-group.de/thecube/content/images/bc63ff3a4940f52b992a3bb8538ebc10.jpg

Can a mod change the title to U/C, ground work is completed now :banana:

^^ Done :cheers:

I see the BMG website is setting up a link to the construction site webcam. Looks like real-time pictures soon.

Was thinking of off loading my studio apartment in the cube that i have paid 50% for do any of you guys have any contacts that could help me out with this. Appreciate the help

It's Friday so the BMG (http://www.bmg-group.de/thecube/index.php?constructionworksupdate)have posted some new pics on their website :)

The last two weeks they spend their time on assembling and placing all the rebar for the columns and the core walls for the first basement level. There will be 4 basement levels in total.

http://www.bmg-group.de/thecube/content/images/00c445925227630acfbdbc7f5bec82f0.jpg

http://www.bmg-group.de/thecube/content/images/e7df638d6344d9722a4894a6efc8265e.jpg

Progress seem to be very good. Especially for the first level :cheers:

new pics of the cube ! and some excellent pics of dsc !

http://www.bmg-group.de/thecube/index.php?constructionworksupdate

Reposting some of the new pictures from the BMG website. The pictures are made on the 16th and the 19th.

They are still working on the columns. Now that all the rebar is in place the forms are placed around the column and the concrete is poured.
http://www.bmg-group.de/thecube/content/images/e65c1b7e12d04dc36d1538b635838d70.jpg

http://www.bmg-group.de/thecube/content/images/d5a39f11d36500ab7f55bfd05469c1de.jpg

Although the work on the columns haven't progressed much, a second towercrane is installed and the remaining parts of the foundation are about to be poured. Overall progress looks very good :)

This is the area near the Cube. The site now looks like a dessert with some construction sites in it, but within 10 years this place will look like heaven. The concrete circle in the middle will be a nice lake and the area around the lake will be filled with large buildings and beautiful plaza's with palmtrees :)
http://www.bmg-group.de/thecube/content/images/7ca6ef07368a161821b1aba5c97c7108.jpg

which building is this. Is it the Diamond??

which building is this. Is it the Diamond??


No no Shiraj, it's Oasis Tower (1). :nono:
See City Map DSC. At the right site you can see the hole of Champions Tower IV.
Nice pics Tag One, you make my day... :D

is this the part of the canal close to the gateway towers or the other end??

these pictires must have been taken from the golf towers. Tag one, can you confirm.

is this the part of the canal close to the gateway towers or the other end??

Yes Shiraj,

This is the Gateway site (the "big lake").

these pictires must have been taken from the golf towers. Tag one, can you confirm.

yep this photo was taken from the top floor of Golf Tower 1

New photo's on the BMG website

New photo's on the BMG website


http://www.bmg-group.de/thecube/index.php?constructionworksupdate

:)

Copying some of the new BMG images to this thread :)

They poured the last sections of the foundation and also made some more progress on the columns. I think it won't be long before we see the first table forms for the first floor :)

http://www.bmg-group.de/thecube/content/images/55c210d16822888df39fa3607d2fa97d.jpg

Egalizing the concrete to get a straight floor...
http://www.bmg-group.de/thecube/content/images/99d05cfa1654a073683a1d3b4f9fac84.jpg

... and laying sheets on the fresh poured floor to prevent it from drying out in the hot sun
http://www.bmg-group.de/thecube/content/images/b1b291096fdd885b456823e8b1cc8d3c.jpg

And no, I'm not making these pics myself. I copy past them from the BMG website ;)

It's time for a new BMG update (http://www.bmg-group.de/thecube/index.php?constructionworksupdate) :)

Although the winter has started in Dubai with heavy storms and stuff progress is really good. The pictures are about a week old.

http://www.bmg-group.de/thecube/content/images/c21c5f1b5afa7ae6e7c59e9a8f78d5e5.jpg

Last week the remaining sections of the foundation were poured. I guess that the foundation of the Cube is now fully completed.

Pouring the concrete...
http://www.bmg-group.de/thecube/content/images/7fa41c620f7266273479acaf35d1045c.jpg

...egalizing it...
http://www.bmg-group.de/thecube/content/images/c8e5f15b8c45bec64348ed4d74c274cc.jpg

...and the result
http://www.bmg-group.de/thecube/content/images/d91a06cea0b0b0c588a48e8571314e13.jpg
Note the yellow tower crane section in the back ground.

Another major step in the construction of this tower are the first table forms. The temporary horizontal forms make it possible to start installing the rebar and eventually pouring the concrete for the first basement floor. They've also installed the rebar for the columns for the next level and they're pouring the walls of a lift shaft as well:
http://www.bmg-group.de/thecube/content/images/935e1044fda37a48d5a492f3756426eb.jpg

http://www.bmg-group.de/thecube/content/images/a823714e9caec206879bfe63a5f5aa36.jpg

BTW does anybody have detailed floorplans of the building and the basement floors? Thanks in advance :)

New pictures from the BMG (http://www.bmg-group.de/thecube/index.php?constructionworksupdate)again!

They are continuing with the construction of basement levels 3 & 4
http://www.bmg-group.de/thecube/content/images/69f87c720cc84bfe50ac3dd68e4c5567.jpg

http://www.bmg-group.de/thecube/content/images/d85cb6cb4866b8e1c2747669521b1c69.jpg

:cheers:

Cube is proceeding nicely so far. I have found BMG to be very professional in all their dealings with me and I am confident they will deliver a quality product. I only hope the other stuff at the sports City is also moving along as the existence of CUBE without the rest of the sporting environment is going to be a complete waste.

Which company will manage the hotel appartments? Does anyone know? :)

Which company will manage the hotel appartments? Does anyone know? :)

I had heard from BMG people that they will prefer to give the Management to one of the boutique 5 star hotel chain but they had not made any decision on that..

It took a year from digging the hole to where they are now. Still some time to go before it tops out...... but yes, it would be a waste unless all the aother developers start pulling their socks up.

It took a year from digging the hole to where they are now. Still some time to go before it tops out...... but yes, it would be a waste unless all the aother developers start pulling their socks up.

The business model of CUBE is to offer top accommodation to the sporting world, athletes, spectators etc. Thus it is very important for the stadiums and sporting academies to be up and running when CUBE gets ready for business. I am afraid if it is not the case not many people will be interested to stay at the CUBE.... does anyone have any idea what is happening to the four stadiums and multiple sports academies??

FYI

extract from my contract with BMG:

Dear Mr. Grant
Subject: Apt No. 21.08, Apt Type. Exec. Studio (L}
Thank you very much for the 50% Down Payment (AED ***,224.30/-) that we received one payment on the 08/02/2007.
Please find attached your receipt.
The final payment of 50% Payment will due on completion of the project December 2008. :soon: ???
*
*
They are currently looking at being 18 months late (re the completion date above), if nothing else holds them up.
Until recently it's been a *&^%$# trying to get information out of them, like drawing teeth. Even now I have to wait for the production of a glossy brochure to inform me of the next delay to completion.
I have requested that they issue to me/ other purchasers, either the S-curves or the schedule on a regular basis. to no avail.
I'd consider selling, but in the current economy and with sliding completion dates, who'd take the risk (offers?).
Seasons greetings to all :badnews:


Granty

The business model of CUBE is to offer top accommodation to the sporting world, athletes, spectators etc. Thus it is very important for the stadiums and sporting academies to be up and running when CUBE gets ready for business. I am afraid if it is not the case not many people will be interested to stay at the CUBE.... does anyone have any idea what is happening to the four stadiums and multiple sports academies??

That's exactly right. I am beginning to doubt if the Sports City infrastructure and contracts will be in place in good time......:badnews:

FYI

extract from my contract with BMG:

Dear Mr. Grant
Subject: Apt No. 21.08, Apt Type. Exec. Studio (L}
Thank you very much for the 50% Down Payment (AED ***,224.30/-) that we received one payment on the 08/02/2007.
Please find attached your receipt.
The final payment of 50% Payment will due on completion of the project December 2008. :soon: ???
Granty

Granty, your payment schedule is better than mine. I have also paid 50% but I have to keep paying 10% every three months or so going forward. I am ok with that provided they keep up with the pace of construction but my concern is that CUBE by itself in the middle of Sports City with "NO SPORTS" would be a waste...

With any property investment the key consideration is always location - and Sports City does not seem to be very promising in this regard at least in the near future.....The Cube will depend on Sports alone (Unlike any other project near Sheikh Zahid Road.....)

With any property investment the key consideration is always location - and Sports City does not seem to be very promising in this regard at least in the near future.....The Cube will depend on Sports alone (Unlike any other project near Sheikh Zahid Road.....)

Think you're very wrong, my friend. DSC will be the most promessing project in Dubai. We'll see in 2 to 3 years... :)

Think you're very wrong, my friend. DSC will be the most promessing project in Dubai. We'll see in 2 to 3 years... :)

I hope so my dear friend, for your sake and mine....

I hope so my dear friend, for your sake and mine....

But at this point in time...that's wishful thinking....:ohno:

Think you're very wrong, my friend. DSC will be the most promessing project in Dubai. We'll see in 2 to 3 years... :)

I agree that CUBE will prove to be a good investment but only for long term investors. It will take 3-5 years to get DSC up and running and eventually with the full backing of Dubai Govt, Dubai will be on the world map for sporting events and DSC will be the logical place. Then CUBE will be well placed to be the premier hotel accommodation. But all this will take time to materialize specially now, after the crisis so be prepared to be patient...

The Cube is progressing well, see new photos on the CUBE website from BMG. I am happy to see good progress so far.

http://www.bmg-group.de/thecube/index.php?constructionworksupdate

I agree that CUBE will prove to be a good investment but only for long term investors. It will take 3-5 years to get DSC up and running and eventually with the full backing of Dubai Govt, Dubai will be on the world map for sporting events and DSC will be the logical place. Then CUBE will be well placed to be the premier hotel accommodation. But all this will take time to materialize specially now, after the crisis so be prepared to be patient...

Crisis... what crisis..??? :lol: :lol: :lol:

Crisis... what crisis..??? :lol: :lol: :lol:

Rob, you are an expert on Dubai real estate. What is your take on the situation here and what are you advising your investors? Thanks

Hello Hippo,

Thank you, but I don't consider myself an expert...
My advise to investors is to stay in and don't sell at this moment. There are not a lot of buyers in the current market, but I'm sure that will change within a year.
I published the information below on the general DSC forum. As you can see the RERA set new rules so payments can not be taken by developers if they don't construct.
Think you should make "deals" with the developers of the projects you and your investors invested in to defer the next payments. Maybe that can give you some time (financialy) to wait a little longer before the need to sell. :)


Rera sets payment rule

Wednesday, December 31, 2008

Starting from January 1, 2009, developers and banks have been ordered to stop taking payments more than 20 per cent of the cost of properties from buyers or investors until construction begins, a Real Estate Regulatory Agency (Rera) official has revealed.

"We have sent out letters to 100 developers – as well as having meetings with them and lending banks and institutions – telling them to take payments from buyers worth only up to 20 per cent of the contract value," Essa Saeed Ahmed Al Mansoori, Head of the Trust Accounts Section at Rera's Real Estate Development Trust Account Department, told Emirates Business.

"With properties that are already being built, developers who have collected more than 20 per cent of the contract value from buyers will immediately have to stop asking for further payments until they correlate the escrow amounts already collected to construction progress."

Rera has set up an 11-member Real Estate Development Trust Account Department that will supervise and monitor the construction process and ensure the escrow amounts are collected in accordance with the agreed schedule.

"We have all the figures in our database and are asking developers to stop collecting money from buyers," said Al Mansoori.

Rera Chief Executive Marwan bin Ghalita said developers could protect their rights by referring disputes to the Property Court where contractual agreements would be enforced. "The message we want to send out to the developers and lending banks is to consider the situation of the investor before they take action," he said. "In this time of crisis, everyone should work together and everybody's rights will be protected."

Meanwhile, Rera has announced that a revision of Law No 8 is being considered by Dubai Land Department.

"For new sales and purchase agreements the booking amount has been set at a fixed amount rather than the previous rate of five to 10 per cent of the contract value," said Al Mansoori . "In January, Rera will set up a technical audit team. The new system will enable stricter auditing of the escrow account, the developer and the trustee."

He added that Rera was introducing regulatory procedures covering Law No 13, which established the Interim Real Estate Register.

A land department spokesman said 100,000 units had already been registered.

Lots of investment talk over here suddenly, I guess that's a good sign :lol:
My advise to those who invested in the cube is hold your property. At the moment the economy isn't that well and the area of Sports City doesn't look that attractive. But within a few year the situation be very different. When the first projects are finished and landscaping starts this place will look nicer and nicer and so will the prise of your property :lol:
Also keep in mind that The Cube's progress looks promising. Hardly a year ago this site was nothing more than a hole in the ground, now BMG is already working on the basement levels. Before the summer this project will be well above street level :cheers:
Time for some pictures from the BMG.

They are currently working on columns of basement levels 3 & 4 and the floor that separates them. The two cores of the tower are already on level 2:
http://www.bmg-group.de/thecube/content/images/ab4fc193e51d8eb42008554139ab5654.jpg

http://www.bmg-group.de/thecube/content/images/d35d05c644c74a2208ed61fa7533b76a.jpg

http://www.bmg-group.de/thecube/content/images/6020766795a5bd3636a11d1c7bd5fe22.jpg

http://www.bmg-group.de/thecube/content/images/6851105842fca6208e8b90d915270b64.jpg

http://www.bmg-group.de/thecube/content/images/b78a8327725d9e9e5055206a779c9af2.jpg

:cheers:

New BMG updates again :)
Pictures are from the 11th of January.

Work continues on the floor and columns of basement 3:
http://www.bmg-group.de/thecube/content/images/f2b3d8a4dda03659171b98a89d23aea9.jpg

Some floor sections are already poured:
http://www.bmg-group.de/thecube/content/images/0074bc98cba36dbf47888909003e0853.jpg

And others sections are about to be poured:
http://www.bmg-group.de/thecube/content/images/59e26bc9bc844a3510e05221c00fcfcc.jpg

And a picture of the basement:
http://www.bmg-group.de/thecube/content/images/6fe5764ea0ac1dc352b274365d04b85d.jpg

:cheers:

who's that smug looking guy with the striped shirt??

New BMG updates (http://www.bmg-group.de/thecube/index.php?constructionworksupdate) again :)
Pictures are from the 15th of January.

Good news, the structural part of basement level 4 has been completed and work on levels B2 and B3 is in full swing. The columns and the floor of B3 are partly poured and steel rebar installation is nearing completion for that level. BMG has also started placing forms for level B2. The two cores of the Cube are also progressing very well. The first is at level B2 and the other one at level B1 and should reach street level very soon.

Pouring concrete for basement level B3:
http://www.bmg-group.de/thecube/content/images/d4f4e196dfc39197cffbeda2e7d41dac.jpg

http://www.bmg-group.de/thecube/content/images/fd00ecce6a7cc77f5f7ba359c70a4227.jpg

Freshly poured concrete for the B3 floor slab:
http://www.bmg-group.de/thecube/content/images/f59a77b6913cd82d730fcc8c6afc58ca.jpg

Installing forms for the B2 floor:
http://www.bmg-group.de/thecube/content/images/3711d2833feb29d391f149c624abbe54.jpg

http://www.bmg-group.de/thecube/content/images/34fd13df67d66538ec1b824f50addfc1.jpg

As the Cube starts to rise the two tower cranes need to grow as well:
http://www.bmg-group.de/thecube/content/images/de33b18616eadf224afee942aba61fe6.jpg

2 guys talking about their toys like shovels, concrete pumps and tower cranes :lol:
http://www.bmg-group.de/thecube/content/images/6c8b29fddec11cb5373d602caafbee0a.jpg

Nice overview on the site and the surrounding area:
http://www.bmg-group.de/thecube/content/images/2c631dffe0ce93a882e3e89633400662.jpg

:cheers:

If all the units are being assembled off-site, then once the ground is finished, it should just be lego.

BMG have the webcam working, check it out, www.bmg-group.de.

^^ Great cam Satan! It works very good and its images are very clear. A zoom button would be really cool though, I'm too lazy to press ctrl + every time :lol:

Time to post the newest images from the BMG:
The images are a few days old and work continues on basement levels B1, B2 and B3.

Another concrete pour...
http://www.bmg-group.de/thecube/content/images/b02171e10c189335e98a0777c8179731.jpg

... egalising the freshly poured concrete...
http://www.bmg-group.de/thecube/content/images/4a29cd2471419f9abfa65a5a41b9b92d.jpg

... the result...
http://www.bmg-group.de/thecube/content/images/91ce33c9a72601f9da3b47cb3bec7ad8.jpg

... and protecting the concrete so that the forms for the columns of the next level can be placed without damaging the new floor
http://www.bmg-group.de/thecube/content/images/62cb3d9884bae20f57ba8d1019c99d39.jpg

:cheers:

BMG have the webcam working, check it out, www.bmg-group.de.

sorry satan but the web cam does not work on my mac!
^^:)

[QUOTE=Tag_one;31789908]^^ Great cam Satan! It works very good and its images are very clear. A zoom button would be really cool though, I'm too lazy to press ctrl + every time :lol:

Is it possible to zoom?

^^ unfortunately there's no zoom option on the website itself, however you can enlarge the page and the images of the webcam in your browser. if you have firefox just press Ctrl + to get a larger view, in IE you can increase the size of the image with the zoom options ;)

Anyone know the going price of an apartment at this time?

Is the Web cam off line?