Another ass-kicking tower by these Sungwon guys:


http://www.dubai-sungwon.com/?tpf=main_kr


http://img368.imageshack.us/img368/1034/s4gy5.jpg

http://img368.imageshack.us/img368/4734/s1pu6.jpg

http://img485.imageshack.us/img485/9279/s2ad6.jpg

http://img366.imageshack.us/img366/9944/s3eo5.jpg

http://img366.imageshack.us/img366/3324/s6jy2.jpg

Damnnnnn... PLEASE let it be not just a proposal... this is amazing shit... business bay!!!!!!!

there was an article this week about some small tower by sungwon
i guess it's this one
something like this has to be approved ;)

great stuff

WOW! just WOW!

R

just amazing, clever layout and it does look awesome....

BB gets the freakin best designs, i wonder if DP has stricter regulations than the rest..

there was an article this week about some small tower by sungwon
i guess it's this one
something like this has to be approved ;)

great stuff

I put it as proposed because it hasn't been officially released. (I think we should do this for every project since approved doesn't mean much when almost everything gets through)

looks like another Aedas rehash.

only the basement, i agree but not the tower itself. much better.

The best quality of Sungwon Dubai Santevill is beginning on businessbay .

http://egun.co.kr/santevill.jpg

두바이포유~

The Sales Centre in SZR (past I/C 3) is almost ready.

added to emporis

brilliant :) see all of you in BB!! ;)

:bash: http://cfs8.blog.daum.net/upload_control/download.blog?fhandle=MEFsaU5AZnM4LmJsb2cuZGF1bS5uZXQ6L0lNQUdFLzAvMTMuSlBH&filename=13.JPG

한참공사중인 성원의 분양사무소 현장사진입니다....2006년 11월17일날 찍은겁니다~~~~

==============================================다음블로거 두바이포유 =======================================

http://cfs4.blog.daum.net/upload_control/download.blog?fhandle=MEFsaU5AZnM0LmJsb2cuZGF1bS5uZXQ6L0lNQUdFLzAvMy5qcGc=&filename=3.jpg


http://cfs5.blog.daum.net/upload_control/download.blog?fhandle=MEFsaU5AZnM1LmJsb2cuZGF1bS5uZXQ6L0lNQUdFLzAvOC5qcGc=&filename=8.jpg


http://cfs5.blog.daum.net/upload_control/download.blog?fhandle=MEFsaU5AZnM1LmJsb2cuZGF1bS5uZXQ6L0lNQUdFLzAvOS5qcGc=&filename=9.jpg


http://cfs6.blog.daum.net/upload_control/download.blog?fhandle=MEFsaU5AZnM2LmJsb2cuZGF1bS5uZXQ6L0lNQUdFLzAvMi5qcGc=&filename=2.jpg

http://pie.daum.net/p226068

http://blog.daum.net/dubai4u/8036578[

dubai4u

very nice !

elegant

love this development.

wo0o0w great one :D it looks fantastic and unique cool

South Korea's Sungwon unveils Dh400m Business Bay tower

Dubai: Sungwon Corporation, one of the largest integrated construction companies in South Korea, has announced the launch of its first property project in the UAE, a Dh400 million 25-storey tower at the Business Bay in Dubai.

The high-rise residential project offers a healthy lifestyle and the opportunity of a lifetime to invest in a home in the economic growth corridor of Dubai. Located at the core of the massive Business Bay development, the SanteVill tower is the only freehold residential plot that offers water views on two sides.

Built on an area of 54,000 square feet, it will contain 195 residential units equipped with smart home technology installed by another Korean giant, LG Electronics, plus numerous retail and community amenities.

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. The South Korean company has built over 130,000 apartments and 1,000 high-rise towers.

Buoyant market

Sungwon plans to invest over $1.2 billion in property development in the Mideast, primarily in UAE's buoyant property market through a strategic alliance it has forged with Dubai Properties. Sungwon's Business Bay project and another planned in Culture Village are its first major investments in the Middle East.

Yoon-Soo Jeon, founder and chairman of Sungwon Corporation, said: "With the region, and UAE in particular experiencing a property boom, Sungwon has made a timely entry into the property market in this part of the world.

The launch of SanteVill this week will be followed by our second project at Culture Village, which is ample testimony of our close and growing relationship with Dubai Properties, the region's leading property developer".

All apartments will feature integrated home automation with remote control operation, in addition to state-of-the-art security systems.

The entire project is expected to be completed in early 2009.

Prices start at Dh1,000 per square foot for a 600-750 square foot studio apartment, Dh1,030 per square foot for a 850-1,400 square foot one-bedroom flat, Dh1,200 per square foot for a 1,400-1,650 square foot two-bedroom flat.

wow...drop dead gorgeous

Korea Sungwon development's sangtevill dubai showroom open.

http://cfs6.blog.daum.net/upload_control/download.blog?fhandle=MEFsaU5AZnM2LmJsb2cuZGF1bS5uZXQ6L0lNQUdFLzAvMTQuanBn&filename=14.jpg

성원상떼빌두바이 모델하우스가 두바이 쉐이크자이드도로변에서 오픈하였습니다.
================다음 블로거 두바이포유===http://blog.daum.net/dubai4u===:cheer:

AMAZING DESIGN

http://cfs1.blog.daum.net/upload_control/download.blog?fhandle=MEFsaU5AZnMxLmJsb2cuZGF1bS5uZXQ6L0lNQUdFLzAvMTguanBn&filename=18.jpg

http://cfs2.blog.daum.net/upload_control/download.blog?fhandle=MEFsaU5AZnMyLmJsb2cuZGF1bS5uZXQ6L0lNQUdFLzAvMTAuanBn&filename=10.jpg

http://cfs2.blog.daum.net/upload_control/download.blog?fhandle=MEFsaU5AZnMyLmJsb2cuZGF1bS5uZXQ6L0lNQUdFLzAvMTEuanBn&filename=11.jpg

http://cfs3.blog.daum.net/upload_control/download.blog?fhandle=MEFsaU5AZnMzLmJsb2cuZGF1bS5uZXQ6L0lNQUdFLzAvMTEuanBn&filename=11.jpg

http://cfs3.blog.daum.net/upload_control/download.blog?fhandle=MEFsaU5AZnMzLmJsb2cuZGF1bS5uZXQ6L0lNQUdFLzAvMTIuanBn&filename=12.jpg

http://cfs4.blog.daum.net/upload_control/download.blog?fhandle=MEFsaU5AZnM0LmJsb2cuZGF1bS5uZXQ6L0lNQUdFLzAvMTIuanBn&filename=12.jpg
:)

http://cfs7.blog.daum.net/upload_control/download.blog?fhandle=MEFsaU5AZnM3LmJsb2cuZGF1bS5uZXQ6L0lNQUdFLzAvMTUuanBn&filename=15.jpg

http://cfs7.blog.daum.net/upload_control/download.blog?fhandle=MEFsaU5AZnM3LmJsb2cuZGF1bS5uZXQ6L0lNQUdFLzAvMTYuanBn&filename=16.jpg

http://cfs8.blog.daum.net/upload_control/download.blog?fhandle=MEFsaU5AZnM4LmJsb2cuZGF1bS5uZXQ6L0lNQUdFLzAvMTkuanBn&filename=19.jpg

http://cfs8.blog.daum.net/upload_control/download.blog?fhandle=MEFsaU5AZnM4LmJsb2cuZGF1bS5uZXQ6L0lNQUdFLzAvMjAuanBn&filename=20.jpg
:ohno:

http://pds13.cafe.daum.net/out_download.php?disk=7&id=4594cbe6d383d





http://blog.daum.net/dubai4u

^^ you gotta love this.

This is mouth wateringly delicious! You can trust the South Koreans to implement cutting edge technology!

I want one!

i love this thing.....:nuts:

So far, everything the South Koreans have proposed and started building in Dubai, has been cutting-edge design: From Axom Tower in Sport City to Ubora Towers and Santevill in BB. Some others on the pipeline looks very promissing as well.

Great Job.

^^ that is very true.

and even more promising several companies from Korea have projects in Dubai under study or already have announced massive investments.

GROUND BREAKING OF SANTEVILL at BUSINESS BAY

http://cfs7.blog.daum.net/upload_control/download.blog?fhandle=MEFsaU5AZnM3LmJsb2cuZGF1bS5uZXQ6L0lNQUdFLzAvMjEuanBn&filename=21.jpg

what is santevill Dubai? any renders?

http://cfs7.blog.daum.net/upload_control/download.blog?fhandle=MEFsaU5AZnM3LmJsb2cuZGF1bS5uZXQ6L0lNQUdFLzAvMjIuanBn&filename=22.jpg


http://blog.daum.net/dubai4u

http://cfs9.blog.daum.net/upload_control/download.blog?fhandle=MEFsaU5AZnM5LmJsb2cuZGF1bS5uZXQ6L0lNQUdFLzAvMjAuanBn&filename=20.jpg



http://blog.daum.net/dubai4u

*very nice design...

has it been launched sales yet?

or we can only buy it in resale market?

thanks!

http://cfs4.blog.daum.net/upload_control/download.blog?fhandle=MEFsaU5AZnM0LmJsb2cuZGF1bS5uZXQ6L0lNQUdFLzAvODEuanBn&filename=81.jpg

http://cfs4.blog.daum.net/upload_control/download.blog?fhandle=MEFsaU5AZnM0LmJsb2cuZGF1bS5uZXQ6L0lNQUdFLzAvODIuanBn&filename=82.jpg

http://cfs5.blog.daum.net/upload_control/download.blog?fhandle=MEFsaU5AZnM1LmJsb2cuZGF1bS5uZXQ6L0lNQUdFLzAvNzcuanBn&filename=77.jpg

has it been launched sales yet?

or we can only buy it in resale market?

thanks!

May be you can buy some units of the santevill at businessbay.
But no good view , lower floor and 2-bed & 2-bed loft only.

I know that santevill's studio & 1 bed had already sold out.

Thank you so much!

Is there a double decker road to pass near this? :weird:

i just found a contact no. to call but it has not been able to connect.
don't know why???

any some other ways to contact the santevill for enquiry?
email or fax no.?
i really wanna know which flats are still available for sale.

that building just looks great!
Thanks!



May be you can buy some units of the santevill at businessbay.
But no good view , lower floor and 2-bed & 2-bed loft only.

I know that santevill's studio & 1 bed had already sold out.

http://cfs7.blog.daum.net/upload_control/download.blog?fhandle=MEFsaU5AZnM3LmJsb2cuZGF1bS5uZXQ6L0lNQUdFLzAvOTkuanBnLnRodW1i&filename=97.jpg

http://cfs6.blog.daum.net/upload_control/download.blog?fhandle=MEFsaU5AZnM2LmJsb2cuZGF1bS5uZXQ6L0lNQUdFLzAvODIuanBnLnRodW1i&filename=82.jpg


http://cfs7.blog.daum.net/upload_control/download.blog?fhandle=MEFsaU5AZnM3LmJsb2cuZGF1bS5uZXQ6L0lNQUdFLzAvOTguanBnLnRodW1i&filename=98.jpg


http://cfs7.blog.daum.net/upload_control/download.blog?fhandle=MEFsaU5AZnM3LmJsb2cuZGF1bS5uZXQ6L0lNQUdFLzAvOTkuanBnLnRodW1i&filename=99.jpg

i just found a contact no. to call but it has not been able to connect.
don't know why???

any some other ways to contact the santevill for enquiry?
email or fax no.?
i really wanna know which flats are still available for sale.

that building just looks great!
Thanks!


Have you tried Bando, Ubora towers As they actually have models of Studio, 1, 2 bedrooms.

Santevill finishes I find a liitle wierd any only a model of the big penthouse..

I actually have bought a studio in Ubora so slightly biased I suppose

Call them on 800 Bando Sat - Thursday

Santevill's sales cemter contact is 800 7077

Thanks!
yeah....i am trying to look for some others in the Business Bay.



Have you tried Bando, Ubora towers As they actually have models of Studio, 1, 2 bedrooms.

Santevill finishes I find a liitle wierd any only a model of the big penthouse..

I actually have bought a studio in Ubora so slightly biased I suppose

Call them on 800 Bando Sat - Thursday

Amlak Finance has agreed to offer home loans for buyers of properties being developed by South Korea's Sungwon Corporation in Dubai, Menafn reported. The tie-up with Amlak covers Sungwon's 25-storey Santevill tower at Business Bay and a mixed-use twin tower project at Culture Village.

actually, i have been trying to call the sale centre at (971 4) 800-7077,
but what i hear is "it's busy. pls try to call later".
that's it!
:(

actually, i have been trying to call the sale centre at (971 4) 800-7077,
but what i hear is "it's busy. pls try to call later".
that's it!
:(


I don,t konw that santevill sales center phone was busy.
If you want to contact santevill salescenter.
Send me your email,name&phone number .
(my email: dubai4u@paran.com)

If you send me your inform, then I'll send your it to santevill's consultant.

good luck! good day!

I believe there are no one bedrooms left so you should try Bando.

Well you cannot dial a toll free number from outside.

I have the latest availability for this project, only 8 units left. Email me azfarnaim@gmail.com

Sungwon opens UAE's first construction site observation deck at SANTEVILL Business Bay


Investors and buyers of Sungwon homes can now, for the first time in Dubai, keep track of the progress made in the construction of their apartments, thanks to a unique observation deck that has been built by South Korea's construction and property development giant on the site of their flagship property project, SANTEVILL at Business Bay.

http://www.ameinfo.com/images/news/2/45252-od.jpg
The Sungwon Observation Deck.

The airconditioned glass-paneled observation deck will allow Sungwon's investors and home buyers to get a first-hand update on the construction of their SANTEVILL apartments on a regular basis. The spacious Observation Deck is 12 metres long and sits on top of 3 containers stacked on top of each other, making it the highest hospitable structure that is not part of the actual buildings to go up in all of Business Bay.

It is reinforced by special construction materials to provide maximum comfort and safety to visitors throughout the year. Adjacent to the airconditioned deck is an open-air viewing deck that will give visitors an opportunity to see the ever-rising construction of Sungwon's SANTEVILL tower amid a backdrop of the panoramic view of the main water canal and the Burj Dubai, the world's tallest building.

The Sungwon Observation Deck was opened by Mr. Chang-Pyo Park, CEO of Sungwon's Middle East Headquarters and General Manager of the Dubai Branch. Also present were Mr. Vincent Ghim, Head of Sales & Marketing, Sungwon, Dubai, prominent UAE investors and some of the first buyers of Sungwon homes at the 25-storey luxurious SANTEVILL development.

Commenting on the new facility in UAE's real estate and construction sectors, Mr. Chang-Pyo Park, said: 'It is not common for developers in the region to allow their buyers to get inside the construction site to check on the progress of their building. Sungwon however is committed to delivering on its promise of Quality on Time. Our buyers and investors own this building and they deserve the right to be involved in the construction process. Just like we have built one of the best full scale model apartments in the Middle East to show our buyers what they are buying into, we are now showing them how we are building their building. It is our desire to treat our customers as partners and establish an interactive relationship so that they can get involved in the construction process. We have nothing to hide because we are a confident construction company that builds its own buildings. And this will further enhance Sungwon's credibility in the region, as a trustworthy property developer and construction company.'

Mr. Vincent Ghim, Head of Sales and Marketing, said: 'Sungwon is keen to showcase its reputation as a construction company that also builds the home that they sell. We built a SANTEVILL model house in our showroom in Dubai to show prospective buyers and investors the quality and type of apartment they will get from Sungwon. Now we are inviting them to observe, any time they want, the actual work that is being done by the construction company in which they have placed their trust. We are telling our buyers; see us at work and then judge the difference that we bring to the property sector in the UAE. Our construction sites are well maintained, clean and well organised. We welcome you to see us build your homes because we are the best and we want you to see why we make this proud claim.'

Together with SANTEVILL at Business Bay, Sungwon will also develop a unique world-class lifestyle mixed commercial twin tower property project at Culture Village. These two projects, worth over US$ 500 million, are Sungwon's first major investments in the Middle East.

In addition to its property projects Sungwon is also mobilizing to commence construction of various mega projects soon to be announced in Dubai. It is in the process of finalizing its civil works license to participate in large infrastructure projects in the U.A.E. Apart from its upcoming role in the Deira project, Sungwon has also been appointed by one of Dubai's most exclusive developers, Al Fattan Properties, to market and sell the luxury projects of Al Fattan Properties to prominent investors and figures in South Korea, starting with The Palm Jumeirah Al Fattan Resort and the Al Fattan Currency House in DIFC. Sungwon is also carrying out civil works projects in Bahrain and Qatar, including road, highway and sewerage pipelines. The South Korean company recently won its first civil works project in Bahrain - a AED 400 million contract to construct a massive flyover at the Isa Town Gate Intersection.

^^ good news!
this is what i could call a developer

^^ good news!
this is what i could call a developer
To observe what? They can just come to skyscrapercity.com

http://i11.tinypic.com/6bxe2d1.jpg
http://i11.tinypic.com/4v2zbyt.jpg

No progress on this site over the last few weeks

Who is the architect for this one ?

Who is the architect for this one ?

Kun-won....

Korean of course

Isn't it Sung-won engineering ?

Kun-won....

Korean of course

Isn't it Sung-won engineering ?
http://www.kunwon.com/

Kun-won

Established in 1984, Kunwon Architects Planners & Engineers is the largest Architectural and Engineering firm in Korea. They employ over 600 architects

The Dubai-based company already has a partnership with South Korea's Kunwon for its Santevill Dubai project at Business Bay which owned by Sungwon

It looks very nice the tower.

Hi all, any updates from this tower? Anyone interested in selling a studio? :)

Hi, the basement is near completion and the building is due for handover no later than June of 2009. I have a 1 bedroom unit here. I think its one of the best project in BB. Omar, pm me your email. I'll send you the listings of 2 studio units on the 8th floor. They are both 600 Sq.Ft. Take care.

Hi, the basement is near completion and the building is due for handover no later than June of 2009. I have a 1 bedroom unit here. I think its one of the best project in BB. Omar, pm me your email. I'll send you the listings of 2 studio units on the 8th floor. They are both 600 Sq.Ft. Take care.

What is the current sqfet price here?
Thank you

http://img186.imageshack.us/img186/3224/santeville021ab1.jpg

What is the current sqfet price here?
Thank you

It's between 1400 to 1500. I think there is great potential for price increase in this project. I see it around 2500 by next june. This is one of the best plot in BB.

It's between 1400 to 1500. I think there is great potential for price increase in this project. I see it around 2500 by next june. This is one of the best plot in BB.

I like the project. Very much indeed its great but its far away from the rest not much going on there in the back of BB...

1400-1500 is average price in BB for residential right now. Office space is a little bit more expensive. I am still wondering why Ubora is selling for 2020 which in my opinion is relatively high priced at this moment. Anyway, I agree again; in more than a year prices will be around 2500 especially when Phase one is near to completion.

best regards

I like the project. Very much indeed its great but its far away from the rest not much going on there in the back of BB...

1400-1500 is average price in BB for residential right now. Office space is a little bit more expensive. I am still wondering why Ubora is selling for 2020 which in my opinion is relatively high priced at this moment. Anyway, I agree again; in more than a year prices will be around 2500 especially when Phase one is near to completion.

best regards

I doubt its still at 1400-1500, would be great to know where its at now though! Anybody have an idea? Ubora is larger, more central, has shops etc in the building, great design and is well underway- does that justify 2020?

Is this resale ?

Anyone has a number or email to the sales office - I did find a number but nobody answers ?

pls upload here!!

how much is the santevill 1-bed room(875sqft) with creek view&burj dubai view ?

I agree that the prices will rise significantly once the tower nears completion and the surrounding canal also comes up in full glory..! This is one of the few towers with smart home technology, if the finish of the sample flat is an indication, then I can safely claim that the interiors would be as excellent and extraordinary as the exteriors. The fortunate ones who have invested at the right time should hold on to see an appreciation of atleast 50% from the current prices of arnd AED 1600-1700 psf.

25/June/2008

Santevill, Business Bay

http://img501.imageshack.us/img501/8913/imresolt041hd3.jpg (http://imageshack.us)

http://img47.imageshack.us/img47/6474/imresolt050zq1.jpg (http://imageshack.us)

more pics here:

http://www.flickr.com/photos/imresolt/sets/72157605818700136/

Sometimes, I came to visit here. then I find a new great pictures of the dubai construction by Imre.

I'm very thank you. and I hope to see the update pictures of Santevill at businessbay.

thanks.


-businessbay-

http://pds55.cafe.daum.net/image/8/cafe/2008/06/28/12/37/4865b1dc8dd69

someone sent me an offer for a typeB 1BR but I deleted it my mistake. please contact me again, sorry.

http://i36.tinypic.com/10ej9di.jpg

http://i34.tinypic.com/2ngsv35.jpg

Santevill Update 16/08/08

http://i257.photobucket.com/albums/hh210/miusuario/IMG_4053.jpg

http://i257.photobucket.com/albums/hh210/miusuario/IMG_4047.jpg

http://i257.photobucket.com/albums/hh210/miusuario/IMG_4046.jpg

Does someone know what is this plot? it is next to the construction site. Is it part of the project?

http://i257.photobucket.com/albums/hh210/miusuario/IMG_4049.jpg

http://i257.photobucket.com/albums/hh210/miusuario/IMG_4048.jpg

I will assume it is the sub-creek...

http://pds91.cafe.daum.net/image/3/cafe/2008/09/17/11/37/48d06d4bf11cc


THIS IS THE SANTEVILL CONSTRUCTION SITE & UPPER GROUND BREAKING TULIP TOWER(PENINSULA TOWER)

DO YOU KNOW? KOREA BEST DEVELOPER(DUBAI DEVELOPING GROUP)


MAJOR GROUP=
SAMSUNG--->BURJ DUBAI
SSANGYONG---->EMIRATE TOWER,GRAND HYATT HOTEL
SUNGWON----->SANTEVILL,SANTEVIEW,SILVERSTAR,CUBE
HYUNDAI
LG
DAEWOO



SECONDARY GROUP= HYUNJU,SINSUNG,DESECO,HYNJIN,BANDO

^^cannot see the pic

can you repost it

thanks

^^cannot see the pic

can you repost it

thanks


http://i36.tinypic.com/214oxsn.jpg

^^still the same dear

use tinypic,imageshack,flickr to upload the pic and repost it :)

Mavekris I can see it, But I change the image to tinypic so all can see..

The plot after Santevill is Peninsula, from dubai4u info is being constructed by SungWon

Strange bcoz i have checked with etisilat and du.:)

Strange as I can see his image,, the photo has a water mark that is the website that is hosting the image. Does that website come up as blocked?

i see it fine...mavekris there is something with ur PC. did u disable something?

so santevill is no more the "only plot in business bay to be surrounded by water from 2 sides''?

http://img407.imageshack.us/img407/3174/business2subvs5.jpg

Someone please confirm that the small extention of the creek between Santevill and Peninsula is history

I think the gap remains, just it will be grass. See the pic two up.

Someone please confirm that the small extention of the creek between Santevill and Peninsula is history



The creek between Santevill and Peninsula==>That site use to Santevill construction office by sungwon.

maybe when the santevill finish construction, then side creek is begining ...

http://pds91.cafe.daum.net/image/3/cafe/2008/09/17/11/37/48d06d4bf11cc


http://pds91.cafe.daum.net/image/8/cafe/2008/09/17/11/37/48d06d59cd9fc

http://pds91.cafe.daum.net/image/12/cafe/2008/09/17/11/37/48d06d51b09f5

http://pds91.cafe.daum.net/image/5/cafe/2008/09/28/22/51/48df8bc6970fb

http://pds91.cafe.daum.net/image/2/cafe/2008/10/05/02/48/48e7ac6112d6f

Thanks for the diagrams dubai4u.

Pics from this afternoon, more activity, but still slow. Also, Peninsula installed the first crane.

http://i257.photobucket.com/albums/hh210/miusuario/04102008587.jpg

http://i257.photobucket.com/albums/hh210/miusuario/04102008591.jpg

Since the wall of the main creek has those 3 holes in there, I assume a small lake might be possible. But compared to other side lakes where one huge whole is in place, this does not look very promissing. I guess this model is not matching the reality any more:

http://img407.imageshack.us/img407/8593/img0257ni6.jpg

Sungwon released 18 units at cityscape starting from AED 2300 to AED 2600 per Sq Ft. The developer says they are on track for July handover.

Sungwon released 18 units at cityscape starting from AED 2300 to AED 2600 per Sq Ft. The developer says they are on track for July handover.

July 2010 or 2011 ? Dont tell me now July 2009!! :)

http://dubai2u.tistory.com

Finish of Santevill's construction site is confirmed july-2009 by sungwon dubai salescenter.



http://cfs8.blog.daum.net/image/12/blog/2008/10/30/02/19/49089b2768c06


http://dubai2u.tistory.com/entry/SANTEVILL-at-BUSINESS-BAY-SUNGWON-2008-10-01



DUBAI2U Ti STORY BLOG

You mean 2009? It seems very unlikely...

You mean 2009? It seems very unlikely...


sorry ! my mistake

http://i35.tinypic.com/2zgfbco.jpg

You mean 2009? It seems very unlikely...

You mean 2010, don't you.

^^If you check Last pics from Duabi4u and sale.

They have done so much in span of 20 days.

Surely they will top out by the end of 2009.

They are also doing majority of the road works in business bay.:)

You mean 2010, don't you.

I'd be happy if it's ready in 2010, but I started to doubt it. In any case, I'm not in a rush :)

this will be a stunner but I dont see it happening before end of 2010

http://i36.tinypic.com/bfm9zb.jpg

http://i34.tinypic.com/292734g.jpg
http://i33.tinypic.com/nxrp7r.jpg
http://i33.tinypic.com/2la3tvn.jpg
http://i34.tinypic.com/2m4t3bc.jpg

Thanks for the update 234sale! was there myself last weekend after some time, and was happy to see the progress, specially on the podium. Cheers!

Santevill progress 11.01.09

http://i257.photobucket.com/albums/hh210/miusuario/IMG_4817.jpg

http://i257.photobucket.com/albums/hh210/miusuario/IMG_4818.jpg

http://i257.photobucket.com/albums/hh210/miusuario/IMG_4819.jpg

http://i257.photobucket.com/albums/hh210/miusuario/IMG_4820.jpg

Is tghis tower really going to be like the original renders ? looks bloody good - are ther apartments left from the developer ?

Santevill progress 24.01.09

http://i257.photobucket.com/albums/hh210/miusuario/24012009151.jpg

http://i257.photobucket.com/albums/hh210/miusuario/24012009152.jpg

http://i257.photobucket.com/albums/hh210/miusuario/24012009154.jpg

good progress , it would be the first completed Korean project in Dubai

http://i42.tinypic.com/o5waqr.jpg

http://i43.tinypic.com/2djqyk4.jpg

Santevill progress 30/01/09

http://i257.photobucket.com/albums/hh210/miusuario/IMG_4958.jpg

http://i257.photobucket.com/albums/hh210/miusuario/IMG_4956.jpg

http://i257.photobucket.com/albums/hh210/miusuario/IMG_4964.jpg

http://i257.photobucket.com/albums/hh210/miusuario/IMG_4963.jpg

this will beone of the best projects in dubai. only pitty is that glass facade will be clean only for the first 12 hours after instalation and the flats in the front will turn into glasshouses in summer :(

this will beone of the best projects in dubai. only pitty is that glass facade will be clean only for the first 12 hours after instalation and the flats in the front will turn into glasshouses in summer :(

Why should this be one of the best projects in Dubai? It is a nice tower but not that special IMHO as u annonce it ;)

SANTEVILL PROGRESS 07.02.09

http://i257.photobucket.com/albums/hh210/miusuario/07022009181.jpg

http://i257.photobucket.com/albums/hh210/miusuario/07022009176.jpg

http://i257.photobucket.com/albums/hh210/miusuario/07022009178.jpg

http://i257.photobucket.com/albums/hh210/miusuario/07022009179.jpg

Why should this be one of the best projects in Dubai? It is a nice tower but not that special IMHO as u annonce it ;)

1.design
2.location
3.finish, unit layouts, appliances used, smart home ect.
4.korean developer
5.healthy living idea (gym on top of the tower)
6.amenities and facilities

just wait and watch

SANTEVILL PROGRESS 13.02.09

http://i257.photobucket.com/albums/hh210/miusuario/13022009215.jpg

http://i257.photobucket.com/albums/hh210/miusuario/13022009221.jpg

http://i257.photobucket.com/albums/hh210/miusuario/IMG_4991.jpg

http://i257.photobucket.com/albums/hh210/miusuario/IMG_4994.jpg

http://i257.photobucket.com/albums/hh210/miusuario/IMG_4998.jpg

http://i257.photobucket.com/albums/hh210/miusuario/IMG_5002.jpg

This comes up also really fast?!
Whish Ubora would be like that...

Thanks for the excellent update Omar. At this rate of progress the building should be ready for handover between March to June, 2010. Do you own a property in this building? I have a 1 bed G Type on the 15th floor.

congrats on the G type. Wanted to buy the same on the highest floor it was available but the payment plan was a rape. Hope they clean the facade often otherwise u wont see much of BB.

Yep, I got a G Type as well. I'd say that we could expect handover between July-September 2010, if construction goes at the same speed. Maybe the tower will be topped in May 2009 with the current 6-days-per-floor rate. Cheers.

http://i40.tinypic.com/2gxe96v.jpg

with this speed ,handover in 2010 is realistic.

What did u guys pay here per sqfet, when and what paymentplan? Please share! Thx

I bought mine at the original price. I paid AED 1,115,000 for my 1 bed on the 15th floor. Its 874 SQFT with full creek and Burj view. 70% has been paid and 30% is due upon completion.

Yep, I got a G Type as well. I'd say that we could expect handover between July-September, if construction goes at the same speed. Maybe the tower will be topped in May with the current 6-days-per-floor rate. Cheers.


Hope u r talking about July-Sept 2010:lol:
If this thing topps out tomorrow afternoon there is no way you can handover in september 2009.

Hope u r talking about July-Sept 2010:lol:
If this thing topps out tomorrow afternoon there is no way you can handover in september 2009.

edited. :)

Santevill progress 20.02.09

From Business Bay crossing

http://i257.photobucket.com/albums/hh210/miusuario/IMG_5019.jpg

http://i257.photobucket.com/albums/hh210/miusuario/IMG_5022.jpg

Construction shots

http://i257.photobucket.com/albums/hh210/miusuario/IMG_5023.jpg

http://i257.photobucket.com/albums/hh210/miusuario/IMG_5029.jpg

http://i257.photobucket.com/albums/hh210/miusuario/IMG_5034.jpg

http://i257.photobucket.com/albums/hh210/miusuario/IMG_5036.jpg

View from site

http://i257.photobucket.com/albums/hh210/miusuario/IMG_5040.jpg

http://i257.photobucket.com/albums/hh210/miusuario/IMG_5041.jpg

Great pics, Omar. Excellent progress and the view is stunning.

http://i41.tinypic.com/2wnoaj6.jpg
http://i40.tinypic.com/33cm1ad.jpg
From the Old Town

http://i39.tinypic.com/8vq6he.jpg

http://i41.tinypic.com/wkisdk.jpg

SANTEVILL UPDATE 01/03/09

http://i257.photobucket.com/albums/hh210/miusuario/IMG_5061.jpg

http://i257.photobucket.com/albums/hh210/miusuario/IMG_5064.jpg

http://i257.photobucket.com/albums/hh210/miusuario/IMG_5066.jpg

http://i257.photobucket.com/albums/hh210/miusuario/IMG_5073.jpg

http://i257.photobucket.com/albums/hh210/miusuario/IMG_5075.jpg

http://i39.tinypic.com/hwjxgz.jpg
http://i41.tinypic.com/24bm0xf.jpg
http://i44.tinypic.com/6xvkuu.jpg
http://i40.tinypic.com/9i6avl.jpg
http://i41.tinypic.com/2e52h6u.jpg

13/March/2009

Santevill Dubai

http://i44.tinypic.com/2chome1.jpg

http://i39.tinypic.com/ea30k9.jpg

http://i39.tinypic.com/2ynqgsl.jpg

SANTEVILL UPDATE 13.03.09

http://i257.photobucket.com/albums/hh210/miusuario/IMG_5269.jpg

http://i257.photobucket.com/albums/hh210/miusuario/IMG_5275.jpg

http://i257.photobucket.com/albums/hh210/miusuario/IMG_5279.jpg

http://i257.photobucket.com/albums/hh210/miusuario/IMG_5282.jpg

It seems the water in front of Santevill was not planned yet, but still looks good...

http://i257.photobucket.com/albums/hh210/miusuario/IMG_5278.jpg

SANTEVILL UPDATE 21.03.09

http://i257.photobucket.com/albums/hh210/miusuario/IMG_5327.jpg

http://i257.photobucket.com/albums/hh210/miusuario/IMG_5333.jpg

http://i257.photobucket.com/albums/hh210/miusuario/IMG_5346.jpg

http://i257.photobucket.com/albums/hh210/miusuario/IMG_5353.jpg

http://i257.photobucket.com/albums/hh210/miusuario/IMG_5361.jpg

http://i257.photobucket.com/albums/hh210/miusuario/IMG_5364.jpg

http://i257.photobucket.com/albums/hh210/miusuario/IMG_5366.jpg

http://i257.photobucket.com/albums/hh210/miusuario/IMG_5375.jpg

http://i257.photobucket.com/albums/hh210/miusuario/IMG_5382.jpg

Great Pics Omar. Any idea what's coming up between Hamilton and Santevill?

Great Pics Omar. Any idea what's coming up between Hamilton and Santevill?

Not really. I was just asking myself the same... anyone?

SATENVILL UPDATE 27.03.09

http://i257.photobucket.com/albums/hh210/miusuario/IMG_5389.jpg

http://i257.photobucket.com/albums/hh210/miusuario/IMG_5391.jpg

http://i257.photobucket.com/albums/hh210/miusuario/IMG_5395.jpg

Santevill Update 03.04.09

http://i257.photobucket.com/albums/hh210/miusuario/IMG_5418.jpg

http://i257.photobucket.com/albums/hh210/miusuario/IMG_5433.jpg

http://i257.photobucket.com/albums/hh210/miusuario/IMG_5435.jpg

http://i257.photobucket.com/albums/hh210/miusuario/IMG_5431.jpg

http://i42.tinypic.com/14bhz5f.jpg

Why does the towers form look different then the rendering? ( The side parts comming out)

Santevill update 11.04.09

http://i257.photobucket.com/albums/hh210/miusuario/IMG_5467.jpg

http://i257.photobucket.com/albums/hh210/miusuario/IMG_5471.jpg

http://i257.photobucket.com/albums/hh210/miusuario/IMG_5476.jpg

http://i257.photobucket.com/albums/hh210/miusuario/IMG_5479.jpg

http://i257.photobucket.com/albums/hh210/miusuario/IMG_5482.jpg

Not much progress in last couple of weeks.

Not much progress in last couple of weeks.

They were building 1 floor per week at least, and no progress in the last week. It may have been due to the constant rains in the last 2 weeks. However, progress is seen in the back side of the building in interiors, and now there is a cladding test in the podium at least, also painting started in the back.

Weather is better now (still raining a bit, but not like last weeks) so we should see some progress this weekend.

SANTEVILL UPDATE 17.04.09

http://i257.photobucket.com/albums/hh210/miusuario/IMG_5573.jpg

http://i257.photobucket.com/albums/hh210/miusuario/IMG_5571.jpg

http://i257.photobucket.com/albums/hh210/miusuario/IMG_5576.jpg

http://i257.photobucket.com/albums/hh210/miusuario/IMG_5578.jpg

Good progress this week. I was there today. They've begun cladding at the podium level.

http://i39.tinypic.com/3147ya8.jpg

SANTEVILL UPDATE 24.04.09

http://i257.photobucket.com/albums/hh210/miusuario/IMG_5598.jpg

http://i257.photobucket.com/albums/hh210/miusuario/IMG_5602.jpg

http://i257.photobucket.com/albums/hh210/miusuario/IMG_5604.jpg

http://i257.photobucket.com/albums/hh210/miusuario/IMG_5606.jpg

http://i257.photobucket.com/albums/hh210/miusuario/IMG_5605.jpg

http://i257.photobucket.com/albums/hh210/miusuario/IMG_5608.jpg

http://i257.photobucket.com/albums/hh210/miusuario/IMG_5610.jpg

looking good :)

Looking very good and thanks for your weekly updates Omar.

They were building 1 floor per week at least, and no progress in the last week. It may have been due to the constant rains in the last 2 weeks. However, progress is seen in the back side of the building in interiors, and now there is a cladding test in the podium at least, also painting started in the back.

Weather is better now (still raining a bit, but not like last weeks) so we should see some progress this weekend.

Guys this doesnt look much like the renders on page 1
- hope it changes as it grows
- not a patch on Ubora stiil the coolest tower in BB !!

Guys this doesnt look much like the renders on page 1
- hope it changes as it grows
- not a patch on Ubora stiil the coolest tower in BB !!

ManUtd, I see it quite similar to the renders. Actually more than what I expected, as I couldn't notice at the beginning that they were keeping those random volumes in the podium (on top of the parking floors) but they show now. What is the most noticeable difference you find?

ManUtd, I see it quite similar to the renders. Actually more than what I expected, as I couldn't notice at the beginning that they were keeping those random volumes in the podium (on top of the parking floors) but they show now. What is the most noticeable difference you find?
I liked the random volumes above the podium also ? - it may come out like that in the end with different glass structure we will see ?
It WILL be the coolest tower in BB if it hits render acurately

I think it looks just like the renders. The renders show the tower from the side view only. I guess it looks different when you view it from the front since the renders don't show the tower from that angle.

It will look great closer to renders as it gets higher. Sungwon is unlikely to make it to different from the model.

http://i39.tinypic.com/2u8a535.jpg

SANTEVILL UPDATE 02.05.09

http://i257.photobucket.com/albums/hh210/miusuario/IMG_5688.jpg

http://i257.photobucket.com/albums/hh210/miusuario/IMG_5689.jpg

http://i257.photobucket.com/albums/hh210/miusuario/IMG_5690.jpg

http://i257.photobucket.com/albums/hh210/miusuario/IMG_5691.jpg

http://i257.photobucket.com/albums/hh210/miusuario/IMG_5696.jpg

http://i257.photobucket.com/albums/hh210/miusuario/IMG_5695.jpg

SANTEVILL UPDATE 08.05.09

http://i257.photobucket.com/albums/hh210/miusuario/IMG_5699.jpg

http://i257.photobucket.com/albums/hh210/miusuario/IMG_5701.jpg

http://i257.photobucket.com/albums/hh210/miusuario/IMG_5702.jpg

http://i257.photobucket.com/albums/hh210/miusuario/IMG_5703.jpg

http://i257.photobucket.com/albums/hh210/miusuario/IMG_5705.jpg

http://i257.photobucket.com/albums/hh210/miusuario/IMG_5708.jpg

http://i39.tinypic.com/2resi6v.jpg

22/May/2009

Santevill Dubai

http://i44.tinypic.com/20qnaxt.jpg

http://i39.tinypic.com/1zyymhj.jpg

http://i43.tinypic.com/95vksl.jpg

http://i40.tinypic.com/e5ogv4.jpg

http://i41.tinypic.com/f4fhbl.jpg

http://i42.tinypic.com/30bo1eb.jpg
http://i44.tinypic.com/2z7mzq0.jpg
http://i40.tinypic.com/34exhs4.jpg

Thanks for the updates! I'll be out for some weeks still

http://i43.tinypic.com/miovuh.jpg

http://i39.tinypic.com/a0ao8w.jpg
http://i40.tinypic.com/vzvp5k.jpg

http://i41.tinypic.com/5oarl.jpg
http://i42.tinypic.com/2uijh29.jpg

Santevill Update 28.06.09

http://i257.photobucket.com/albums/hh210/miusuario/IMG_6016.jpg

http://i257.photobucket.com/albums/hh210/miusuario/IMG_6017.jpg

http://i257.photobucket.com/albums/hh210/miusuario/IMG_6019.jpg

http://i257.photobucket.com/albums/hh210/miusuario/IMG_6020.jpg

http://i257.photobucket.com/albums/hh210/miusuario/IMG_6022.jpg

http://i257.photobucket.com/albums/hh210/miusuario/IMG_6028.jpg

SANTEVILL UPDATE 03.07.09

http://i257.photobucket.com/albums/hh210/miusuario/IMG_6054.jpg

http://i257.photobucket.com/albums/hh210/miusuario/IMG_6057.jpg

http://i257.photobucket.com/albums/hh210/miusuario/IMG_6058.jpg

http://i257.photobucket.com/albums/hh210/miusuario/IMG_6059.jpg

http://i257.photobucket.com/albums/hh210/miusuario/IMG_6061.jpg

http://i257.photobucket.com/albums/hh210/miusuario/IMG_6062.jpg

http://i257.photobucket.com/albums/hh210/miusuario/IMG_6063.jpg

http://i25.tinypic.com/2aht84i.jpg

Santevill Update 19/07/09

http://i257.photobucket.com/albums/hh210/miusuario/IMG_6099.jpg

http://i257.photobucket.com/albums/hh210/miusuario/IMG_6096.jpg

http://i257.photobucket.com/albums/hh210/miusuario/IMG_6095.jpg

http://i257.photobucket.com/albums/hh210/miusuario/IMG_6090.jpg

http://i257.photobucket.com/albums/hh210/miusuario/IMG_6088.jpg

http://i28.tinypic.com/2aaj5ur.jpg
http://i26.tinypic.com/2lk4kma.jpg

SANTEVILL UPDATE 04.08.09

http://i257.photobucket.com/albums/hh210/miusuario/04082009016.jpg

http://i257.photobucket.com/albums/hh210/miusuario/04082009018.jpg

http://i257.photobucket.com/albums/hh210/miusuario/04082009019.jpg

http://i257.photobucket.com/albums/hh210/miusuario/04082009021.jpg

http://i257.photobucket.com/albums/hh210/miusuario/04082009022.jpg

Nice photos. This one is going to be amazing when it is done!

SANTEVILL UPDATE 08.08.09

http://i257.photobucket.com/albums/hh210/miusuario/08082009029.jpg

http://i257.photobucket.com/albums/hh210/miusuario/08082009030.jpg

http://i257.photobucket.com/albums/hh210/miusuario/08082009037.jpg

http://i257.photobucket.com/albums/hh210/miusuario/08082009038.jpg

Wow!

old update...

SANTEVILL UPDATE 18.08.09

http://i257.photobucket.com/albums/hh210/miusuario/19082009044.jpg

Water in front of Santevill is gone, and the "islands" are being removed

http://i257.photobucket.com/albums/hh210/miusuario/19082009043.jpg

http://i257.photobucket.com/albums/hh210/miusuario/19082009042.jpg

http://i257.photobucket.com/albums/hh210/miusuario/19082009041.jpg

http://i257.photobucket.com/albums/hh210/miusuario/19082009040.jpg

http://i257.photobucket.com/albums/hh210/miusuario/19082009039.jpg

http://i25.tinypic.com/32zi49t.jpg

SANTEVILL UPDATE 02.09.09

http://i257.photobucket.com/albums/hh210/miusuario/02092009045.jpg

http://i257.photobucket.com/albums/hh210/miusuario/02092009046.jpg

http://i257.photobucket.com/albums/hh210/miusuario/02092009050.jpg

http://i257.photobucket.com/albums/hh210/miusuario/02092009053.jpg

http://i257.photobucket.com/albums/hh210/miusuario/02092009054.jpg

http://i257.photobucket.com/albums/hh210/miusuario/02092009055.jpg

http://i257.photobucket.com/albums/hh210/miusuario/02092009057.jpg

http://i257.photobucket.com/albums/hh210/miusuario/02092009058.jpg

http://i257.photobucket.com/albums/hh210/miusuario/02092009059.jpg

http://i257.photobucket.com/albums/hh210/miusuario/02092009060.jpg

SANTEVILL UPDATE 10.09.09

http://i257.photobucket.com/albums/hh210/miusuario/10092009074.jpg

http://i257.photobucket.com/albums/hh210/miusuario/10092009075.jpg

http://i257.photobucket.com/albums/hh210/miusuario/10092009076.jpg

http://i257.photobucket.com/albums/hh210/miusuario/10092009077.jpg

http://i257.photobucket.com/albums/hh210/miusuario/10092009079.jpg

http://i257.photobucket.com/albums/hh210/miusuario/10092009081.jpg

Stiil not looking quite like the renders ? really hoping it will do at the end ?

http://i37.tinypic.com/2lkg16w.jpg

http://i34.tinypic.com/2rep5w3.jpg

one of my favorites in BB!

Excellant!

SANTEVILL UPDATE 24.09.09

http://i257.photobucket.com/albums/hh210/miusuario/IMG_6412.jpg

http://i257.photobucket.com/albums/hh210/miusuario/IMG_6420.jpg

http://i257.photobucket.com/albums/hh210/miusuario/IMG_6430.jpg

http://i257.photobucket.com/albums/hh210/miusuario/IMG_6432.jpg

http://i257.photobucket.com/albums/hh210/miusuario/IMG_6434.jpg

http://i257.photobucket.com/albums/hh210/miusuario/IMG_6435.jpg

http://i257.photobucket.com/albums/hh210/miusuario/IMG_6437.jpg

http://i257.photobucket.com/albums/hh210/miusuario/IMG_6439.jpg

http://i257.photobucket.com/albums/hh210/miusuario/IMG_6440.jpg

SANTEVILL UPDATE 02.10.09

http://i257.photobucket.com/albums/hh210/miusuario/IMG_6517.jpg

http://i257.photobucket.com/albums/hh210/miusuario/IMG_6519.jpg

http://i257.photobucket.com/albums/hh210/miusuario/IMG_6520.jpg

http://i257.photobucket.com/albums/hh210/miusuario/IMG_6524.jpg

http://i257.photobucket.com/albums/hh210/miusuario/IMG_6523.jpg

http://i257.photobucket.com/albums/hh210/miusuario/IMG_6525.jpg

http://i257.photobucket.com/albums/hh210/miusuario/IMG_6528.jpg

Wow! When is it going to top out?

When the wind blows from the East.......... ohhh Arrrhhh,,,h

does anyone know when this will be completely finished?
Sungwon are keeping the completion date very close to their chests!!

Was told Circa December 2009, but that does not look likely, surely it will take the best part of a year to complete the interior.

I need to get my apartment rented out as soon as I can.

5 floors still missing, maybe structural completion (excluding cladding) is possible in january 2010.

30/October/2009

Santevill Dubai

http://i36.tinypic.com/339kmth.jpg

30/October/2009

Santevill Dubai

http://i33.tinypic.com/n4eiu.jpg

http://i35.tinypic.com/2ijhrgx.jpg

http://i34.tinypic.com/15517y9.jpg

Looks like its topped out?

not until the glass apnels at the top are installed. Also some floors seem to be missing still because the core remains higher than the built-up floors. Top out may be possible in February next year.

5 floors missing

SANTEVILL UPDATE 31.10.09

http://i257.photobucket.com/albums/hh210/miusuario/30102009117.jpg

http://i257.photobucket.com/albums/hh210/miusuario/30102009123.jpg

http://i257.photobucket.com/albums/hh210/miusuario/30102009126.jpg

http://i257.photobucket.com/albums/hh210/miusuario/30102009128.jpg

http://i257.photobucket.com/albums/hh210/miusuario/30102009131.jpg

http://i257.photobucket.com/albums/hh210/miusuario/30102009132.jpg

http://i257.photobucket.com/albums/hh210/miusuario/30102009137.jpg

SANTEVILL UPDATE 06.12.09

http://i257.photobucket.com/albums/hh210/miusuario/06122009184.jpg

http://i257.photobucket.com/albums/hh210/miusuario/06122009192.jpg

http://i257.photobucket.com/albums/hh210/miusuario/06122009197.jpg

http://i257.photobucket.com/albums/hh210/miusuario/06122009200.jpg

http://i257.photobucket.com/albums/hh210/miusuario/06122009205.jpg

http://i257.photobucket.com/albums/hh210/miusuario/06122009206.jpg

http://i257.photobucket.com/albums/hh210/miusuario/06122009211.jpg

last one, is the best view. Business Bay need more good buildings rather than borring blocks.

Work has gone slow,, not stopped, but slow, I suppose some infrastructure issues if finished to soon.

What is the completion date they are giving Omar?

Hi Sale, according to Sung Won completion date is in Q2 2010. End of 2010 is more realistic I'd say.

SANTEVILL UPDATE 30.12.09

http://i257.photobucket.com/albums/hh210/miusuario/20091230_005.jpg

http://i257.photobucket.com/albums/hh210/miusuario/20091230_007.jpg

http://i257.photobucket.com/albums/hh210/miusuario/20091230_012.jpg

http://i257.photobucket.com/albums/hh210/miusuario/20091230_016.jpg

SANTEVILL UPDATE 05.01.10 (views from 21st floor)

http://i257.photobucket.com/albums/hh210/miusuario/20100105_025.jpg

http://i257.photobucket.com/albums/hh210/miusuario/20100105_024.jpg

http://i257.photobucket.com/albums/hh210/miusuario/20100105_016.jpg

http://i257.photobucket.com/albums/hh210/miusuario/20100105_015.jpg

http://i257.photobucket.com/albums/hh210/miusuario/20100105_013.jpg

http://i257.photobucket.com/albums/hh210/miusuario/20100105_012.jpg

http://i257.photobucket.com/albums/hh210/miusuario/20100105_009.jpg

SANTEVILL UPDATE 15.01.10

http://i257.photobucket.com/albums/hh210/miusuario/IMG_6650.jpg

http://i257.photobucket.com/albums/hh210/miusuario/IMG_6651.jpg

http://i257.photobucket.com/albums/hh210/miusuario/IMG_6658.jpg

http://i257.photobucket.com/albums/hh210/miusuario/IMG_6662.jpg

http://i257.photobucket.com/albums/hh210/miusuario/IMG_6664.jpg

http://i257.photobucket.com/albums/hh210/miusuario/IMG_6665.jpg

http://i257.photobucket.com/albums/hh210/miusuario/IMG_6667.jpg

http://i257.photobucket.com/albums/hh210/miusuario/IMG_6668.jpg

http://i257.photobucket.com/albums/hh210/miusuario/IMG_6676.jpg

http://i257.photobucket.com/albums/hh210/miusuario/IMG_6679.jpg

http://i257.photobucket.com/albums/hh210/miusuario/IMG_6683.jpg

http://i257.photobucket.com/albums/hh210/miusuario/IMG_6686.jpg

^^

Imre could you estimate time until T/O? Q4 2010?

Another ass-kicking tower by these Sungwon guys:


http://www.dubai-sungwon.com/?tpf=main_kr


http://img368.imageshack.us/img368/1034/s4gy5.jpg

http://img368.imageshack.us/img368/4734/s1pu6.jpg

http://img485.imageshack.us/img485/9279/s2ad6.jpg

http://img366.imageshack.us/img366/9944/s3eo5.jpg

http://img366.imageshack.us/img366/3324/s6jy2.jpg

Unfortunately this has not QUITE turned out like the renders --nice try but no there i am afraid ?
(never thought it could be anyway)

http://i49.tinypic.com/2dvk0ud.jpg

23/January/2010

Santevill Dubai

http://i46.tinypic.com/29458qh.jpg

http://i50.tinypic.com/ay0b4y.jpg

http://i46.tinypic.com/2njvgih.jpg

SANTEVILL UPDATE 29.01.10

http://i257.photobucket.com/albums/hh210/miusuario/Business%20Bay/IMG_6888.jpg

http://i257.photobucket.com/albums/hh210/miusuario/Business%20Bay/IMG_6890.jpg

http://i257.photobucket.com/albums/hh210/miusuario/Business%20Bay/IMG_6891.jpg

http://i257.photobucket.com/albums/hh210/miusuario/Business%20Bay/IMG_6893.jpg

http://i257.photobucket.com/albums/hh210/miusuario/Business%20Bay/IMG_6906.jpg

http://i257.photobucket.com/albums/hh210/miusuario/Business%20Bay/IMG_6908.jpg

http://i257.photobucket.com/albums/hh210/miusuario/Business%20Bay/IMG_6920.jpg

http://i257.photobucket.com/albums/hh210/miusuario/Business%20Bay/IMG_6924.jpg

http://i257.photobucket.com/albums/hh210/miusuario/Business%20Bay/IMG_6926.jpg

Sungwon got a financial problem and stocks are falling down and down in Korea.

It seems that the construction stopped here.

Sungwon bankrupt or other reason?

DAMN! nearly done, more or less topped out, and no on-hold??
:bash::bash::bash:

The hieght is 107m, actually we should be able to find out the hieght of every tower over 100m as they have to list with the http://www.dcaa.gov.ae/Default.aspx



http://joongangdaily.joins.com/article/view.asp?aid=2916120
Sungwon Corp., a Korean construction company, fell 15 percent to 1,115 won at the close, the lowest since Sept. 24, 2004. The construction firm’s shares plunged after a stakeholder’s shares in the company were sold by its creditor. The company lost 38 percent in its market value in three days. Samsung Electronics closed down 0.64 percent to 772,000 won while LG Display rose 0.41 percent to 37,159 won.


http://www.gulf-daily-news.com/NewsDetails.aspx?storyid=271306
However, the Works Ministry announced last Saturday it had terminated Sungwon's contract "for failure to improve their performance and sort out their financial matters".

It seems that the construction stopped here.

Sungwon bankrupt or other reason?

maybe..
Situation is too bad..

Project is on hold. No official answer from representants yet.

http://www.arabianbusiness.com/582345-bahraini-workers-lodge-complaint-over-sungwon-payment-

http://www.arabianbusiness.com/582345-bahraini-workers-lodge-complaint-over-sungwon-payment-

yeah...this news from Sungwon.Bahrain's Developer was cancelled Negotiation for Contractor ,Sungwon..

Sungwon Dubai Projects-Construction(No On hold working project)-Dubai Infrastructure Highway.

Culture Village Dubai Sante Vill-On hold,but will delay..

Dubai Business Bay Development-Delay for A few months.(after solution for Domestic Problem,Construction will restart.)

Received this letter from Sungwon:

Dear Valued Customers,

Good Day!

This email serves as an update on the infrastructure provision in Business Bay as well as Santevill.

We are aware that there are a few talks about the lack of electricity in Dubai. Even some cases there are rumours that Business Bay will not receive the electricity until 2012 or so. Long story short, this is not entirely true according to our findings. DEWA has confirmed that Dubai has enough electricity to support the Emirate and the current electricity issue in Business Bay is not because of the lack of electricity itself but the lack of substations which are the absolute necessity in order for individual projects to receive the transformed electricity from the DEWA’s high voltage main line. Electricity provision is more than an essential prerequisite for project handover since having the project completed without electricity provision will make the interior works of the building severely and irreparably damaged. At the moment there are 9 substations planned within entire Business Bay and Santevill was originally assigned to PSS No. 8, which is planned to be built on the triangular-shaped land behind our plot, unlimited commercial area of Business Bay, currently being occupied by the UNICEF building and its annexes, according to INJAZ, the construction management company of Dubai Properties Group.

Recently we confirmed the reassignment of the substation with a DEWA official from PSS No. 8 to PSS No. 3 which is approximately 95% completed according to our engineers’ observation. The reassignment was needed since the PSS No. 8 has not commenced its construction whilst several projects are being substantially constructed within its assigned area. Once the substation gets completed it requires 2 months of test run and 3 months of dissemination line networking according to DEWA. As previously communicated, we have been controlling our construction progress so that it synchronizes with the provision of electricity in order to avoid any physical or material damage which subsequently causes the monetary loss of Santevill owners. As of January 31, 2010, we have not received the confirmed date for electricity provision either from DEWA, INJAZ or Dubai Properties but we will constantly and periodically check with the authorities so that we can start accelerating the construction to harmonize with the infrastructure provision.

Another update will be sent at the end of this month providing any relevant changes or development related to Santevill and the infrastructure provisions.

For further inquiry, please feel free to contact us.

Best regards,
SUNGWON FZE

So.... Does anyone have info on the PSS3? And, if a building is finished and not connected yet, is there any case were it could be taken into commercial use by using generators? any comments are apreciatted...

성원건설 ‘퇴출’ 판정 후폭풍… 중소 건설업계 부도 공포




“올 것이 왔다” “다음은 어디지?” 성원건설이 ‘퇴출(D등급)’ 판정을 받은 소식이 전해지면서 9일 중견·중소 건설업계는 충격에 빠졌다. ‘부도 블랙리스트’가 공공연히 나도는 가운데 6월 위기설이 확산되고 있다.

◇성원건설 어떤 회사, 이유와 파장=‘상떼빌’ 브랜드로 유명한 성원건설은 지난해 시공능력평가 54위의 중견업체다. 주택사업과 토목, 해외사업을 활발하게 펼쳐오던 성원건설이 유동성에 빨간불이 켜진 건 글로벌 금융위기가 불어 닥친 2008년 말. 지난해부터 미분양 주택은 갈수록 쌓이는 데다 해외사업 진행까지 지지부진해지고, 신규자금 조달은 갈수록 어려워지면서 상황은 악화일로로 치달았다.

특히 지난해 8월 수주한 1조2000억원 규모의 리비아 토부룩 신도시 주택건설 사업에서 선수금 1800억원을 받지 못한 게 타격이 컸다. 급기야 지난 1월 채권단 실사를 받게 됐고, 지난달에는 3년 전부터 진행해 온 640억원대의 바레인 입체교차로 건설공사마저 해지됐다. 회사는 임직원 월급 160억원을 8개월째 못주고 있다.

현재 성원건설이 끌어온 프로젝트 파이낸싱(PF) 자금 규모는 9000억원대. 협력업체에 줄 돈도 1000억원에 달한다. 자금사정 악화로 13곳에 달하는 국내외 사업장 공사는 모두 중단된 상태다. 성원건설은 조만간 법정관리를 신청할 예정이다.

하지만 국내 주택사업장의 경우 아파트 계약자들의 피해는 없을 것으로 보인다. 사업장 모두 대한주택보증의 보증을 받은 사업장이기 때문이다. 하지만 입주 지연 등의 피해는 불가피하다. 법정관리(기업회생절차)에 들어가게 될 성원건설의 청산 여부는 법원이 결정한다. 한 건설업체 관계자는 “성원건설이 상장사인 데다 국내 사업장을 보유하고 있기 때문에 청산보다는 회생 결정 가능성이 높지 않겠느냐”고 조심스럽게 전망했다.

◇‘6월 위기설’ 현실화되나=업계는 성원건설 퇴출 판정이 건설사들의 ‘도미노’ 부도를 알리는 전조는 아닌지 우려하는 분위기다. 성원건설 외에도 5∼6개 중견 건설사들이 성원건설과 비슷한 상황에 봉착했다는 소문이 파다한 가운데 ‘6월 위기설’이 떠오르고 있다.

당장 다음달 예정된 채권 금융기관의 신용위험평가에 따라 건설사들의 ‘옥석’이 가려질 전망이다. 채권관리위원회(대주단)가 신용공여액 500억원 이상인 기업들을 전수조사로 평가하는데 재무구조가 취약한 기업들은 퇴출 또는 워크아웃 대상으로 판가름 난다. 그 시기가 대략 6월쯤인데 기업들의 대규모 채권 만기가 돌아오는 시점과도 맞물리기 때문에 중견·중소 건설업체들은 발등에 불이 떨어졌다.

주택사업 비중이 높은 이들 업체는 대형 건설사처럼 토목이나 해외사업 등으로 수익을 보전할 만한 방안이 여의치 않다. 이 때문에 일부 업체는 유상증자나 자기주식 처분으로 재무구조 개선 작업에 나서기도 한다.

현 상황에 대한 부동산 전문가들의 견해는 엇갈린다. 김현아 건설산업연구원 연구위원은 “급한 불을 끄기 위해서는 DTI(총부채상환비율) 규제 등 규제완화 조치가 필요한 시점”이라고 말했다. 이에 대해 고성수 건국대 부동산학과 교수는 “건설사 구조조정이 미진한 데 따른 결과 때문”이라며 강력한 구조조정의 필요성을 주장했다.

http://news.naver.com/main/read.nhn?mode=LSD&mid=sec&sid1=101&oid=005&aid=0000401578

Korean Financing Crisis in Construction & Real Estate Parts-Global Economic Crisis Result..

Contractor's Bankruptcy....

Sungwon's Death-Overseas & Domestic Construction working is All-stop!
http://img51.imageshack.us/img51/8052/sungwon.jpg
http://img38.imageshack.us/img38/179/0818483192161400050.jpg


Liquidity crisis, support the construction, management discussion ban court ruling ...

Gyeokdeon liquidity crisis management support built its own revival are you not think the court has to stand at the crossroads. The creditors of the credit rating results, D (ban rating) rating received additional funding that came out this conclusion is impossible.

In the construction industry in addition to 5-6 members of the construction of medium construction companies are facing a serious liquidity crisis in January last year, up daejudan of construction companies and major restructuring work (workouts) since the wavelength of the rainstorm warning is this.

8 days, according to financial services and construction support for members of the creditors in the construction of 31 large accounting firm in charge of exit as a large foreign bank creditors including Woori Bank, Kookmin Bank, the credit rating results support the aggregates in the construction side, the company informed done.

Notice of the creditors credit rating results of this additional funding or a workout impossible 'D Stars'. Accordingly, the current executive members of the construction of this unique regenerative naenotji If not, the court managed to apply it inevitably will be. Companies to apply for a court, administrative court, administrative court, even if application is not accepted, the liquidation procedure is possible.

Support the construction of a liquidity crisis, the size of the 2 trillion won last year, Libya sujuhan tobeuruk issuing export certificates for the New City Insurance from 04 K up-front payment delays geobudwae doemyeonseo surfaced since. Korea Export Insurance Corporation to support the construction of 1,000 billion won subcontractor to have the older minapgeum ₩ 15,000,000,000 deda seven months outside of the wage determination issued unqualified chebuldwae credit.

During the construction of large side members arrange their own business in the normalization was made to the creditors.

Support the construction project financing (PF) and pulled credit from banks to total nearly ₩ 900,000,000,000 said.

Members, with assets now Libya is building new towns to find business partners and conduct joint Jean intention to focus on fruit, but this too had gotten. 'Eopchinde deopchingyeok' at the end of the month in Bahrain in progress ₩ 100,000,000,000 scale crossing gate 04 members of the Bahraini government's credit to help lateral terminate the contract for construction was delayed.

Support construction through the sale of assets still insist on its own, and do not regenerate, but the sale of the property itself, without making significant progress in the situation is likely to eventually apply for legal management.

Company official "in Korea held two golf courses where Janghowon gyorb Iksan, Ulsan, and Anyang, Yongin places such as the prolonged sale of premises in total nearly ₩ 750,000,000,000 liquidity measures promoting secure contracts, but still no place seongsadoen," he said.

Cause of death listed on the ownership family members, including the construction of the Chairman Jeon Yoon-su yeoteuna one shareholder to sell shares as collateral assigned doemyeonseo was forecast last April 4 and two shareholders (23.4%) said that one shareholder olraseon. As the largest shareholder of shares that can be incinerated on the situation faced Deposit Insurance Corporation have dismays measure.


Focus-Sungwon Construction's Bankruptcy,Korean Construction Market & Financing Environment is harmful...very bad news...
Dubai's work will be On-hold,but Contractor will be re-decided other Company..
and Korean Sungwon Construction work will be On-hold..

In korean Press-Result of this Crisis
성원건설 ‘퇴출’ 판정 후폭풍… 중소 건설업계 부도 공포




“올 것이 왔다” “다음은 어디지?” 성원건설이 ‘퇴출(D등급)’ 판정을 받은 소식이 전해지면서 9일 중견·중소 건설업계는 충격에 빠졌다. ‘부도 블랙리스트’가 공공연히 나도는 가운데 6월 위기설이 확산되고 있다.

◇성원건설 어떤 회사, 이유와 파장=‘상떼빌’ 브랜드로 유명한 성원건설은 지난해 시공능력평가 54위의 중견업체다. 주택사업과 토목, 해외사업을 활발하게 펼쳐오던 성원건설이 유동성에 빨간불이 켜진 건 글로벌 금융위기가 불어 닥친 2008년 말. 지난해부터 미분양 주택은 갈수록 쌓이는 데다 해외사업 진행까지 지지부진해지고, 신규자금 조달은 갈수록 어려워지면서 상황은 악화일로로 치달았다.

특히 지난해 8월 수주한 1조2000억원 규모의 리비아 토부룩 신도시 주택건설 사업에서 선수금 1800억원을 받지 못한 게 타격이 컸다. 급기야 지난 1월 채권단 실사를 받게 됐고, 지난달에는 3년 전부터 진행해 온 640억원대의 바레인 입체교차로 건설공사마저 해지됐다. 회사는 임직원 월급 160억원을 8개월째 못주고 있다.

현재 성원건설이 끌어온 프로젝트 파이낸싱(PF) 자금 규모는 9000억원대. 협력업체에 줄 돈도 1000억원에 달한다. 자금사정 악화로 13곳에 달하는 국내외 사업장 공사는 모두 중단된 상태다. 성원건설은 조만간 법정관리를 신청할 예정이다.

하지만 국내 주택사업장의 경우 아파트 계약자들의 피해는 없을 것으로 보인다. 사업장 모두 대한주택보증의 보증을 받은 사업장이기 때문이다. 하지만 입주 지연 등의 피해는 불가피하다. 법정관리(기업회생절차)에 들어가게 될 성원건설의 청산 여부는 법원이 결정한다. 한 건설업체 관계자는 “성원건설이 상장사인 데다 국내 사업장을 보유하고 있기 때문에 청산보다는 회생 결정 가능성이 높지 않겠느냐”고 조심스럽게 전망했다.

◇‘6월 위기설’ 현실화되나=업계는 성원건설 퇴출 판정이 건설사들의 ‘도미노’ 부도를 알리는 전조는 아닌지 우려하는 분위기다. 성원건설 외에도 5∼6개 중견 건설사들이 성원건설과 비슷한 상황에 봉착했다는 소문이 파다한 가운데 ‘6월 위기설’이 떠오르고 있다.

당장 다음달 예정된 채권 금융기관의 신용위험평가에 따라 건설사들의 ‘옥석’이 가려질 전망이다. 채권관리위원회(대주단)가 신용공여액 500억원 이상인 기업들을 전수조사로 평가하는데 재무구조가 취약한 기업들은 퇴출 또는 워크아웃 대상으로 판가름 난다. 그 시기가 대략 6월쯤인데 기업들의 대규모 채권 만기가 돌아오는 시점과도 맞물리기 때문에 중견·중소 건설업체들은 발등에 불이 떨어졌다.

주택사업 비중이 높은 이들 업체는 대형 건설사처럼 토목이나 해외사업 등으로 수익을 보전할 만한 방안이 여의치 않다. 이 때문에 일부 업체는 유상증자나 자기주식 처분으로 재무구조 개선 작업에 나서기도 한다.

현 상황에 대한 부동산 전문가들의 견해는 엇갈린다. 김현아 건설산업연구원 연구위원은 “급한 불을 끄기 위해서는 DTI(총부채상환비율) 규제 등 규제완화 조치가 필요한 시점”이라고 말했다. 이에 대해 고성수 건국대 부동산학과 교수는 “건설사 구조조정이 미진한 데 따른 결과 때문”이라며 강력한 구조조정의 필요성을 주장했다.

http://news.naver.com/main/read.nhn?...aid=0000401578

Korean Financing Crisis in Construction & Real Estate Parts-Global Economic Crisis Result..
korea2002 is offline Report Post Reply With Quote

I understand all ......

i thinks it has gone bust noww.. the regulators must verify the record & find the details of all the finances (bridge finance etc.) availed by this Developer. That must be real huge.

still ON HOLD

25/April/2010

Santevill

http://i43.tinypic.com/24lvsw9.jpg

http://i39.tinypic.com/iwi23k.jpg

http://i44.tinypic.com/2ih1jfa.jpg

still ON HOLD

25/April/2010

Santevill

http://i43.tinypic.com/24lvsw9.jpg

http://i39.tinypic.com/iwi23k.jpg

http://i44.tinypic.com/2ih1jfa.jpg

Okay.Santevill Dubai is operated by Sungwon Construction Company.but,Sungwon will go Negative Result(really,Sungwon goes on Preparation of Legitimate Bankruptcy.)....very bad news from korean Industry.....
Finally,God(my over activity ;;) liberated Sungwon Construction due to Financial unstability.

beyond Sungwon Engineering,Other Korean Construction Companies is dying...
very Chilling and Unbelivable Effect...So,a few threads of SSC Korean Projects don't know recent Progress or is no-more Progress for Inner Problem.

Sungwon-Global-Dubai Business Bay(Santevill Tower),Dubai Sheik-Zayed Road(SZR)-Business Bay Highway Develoment(Dubai Infrastructures),Dubai Sante view in Culture Village
Domestic-Sungwon Sante-ciel(Seoul),Sante view(Yongin) and 9 Development Location works.(no-progress Since March)

GM Daewoo(Daewoo Motor Sales Corp)-Songdo Project(Pinecity Complex+Songdo PMP Korea(Paramount Movie Themepark Korea))-Bankruptcy and Final Stage of Workout...

Namyang,Gumkwang,Dongdo,Daejoo,Taewang E&C(enterprise of middle standing -중견건설사) was died...

very bad result..... Finally,very Big Enterprise like Samsung,Hyundai E&C will remain.






on the basis of Korean Industry,based Korean Developers(Sungwon,Bando,Amco,Hyundai,SK D&D Global,Namkwang,Dseco(Dubai Oval Tower Developer) operate Domestic and International works.(Projects)

However,Currently,Domestic Construction PF Market(Project-Financing Distribution & Capital Management Market) and Domestic Contract(Urban Development,Redevelopment,Complex) is no more Progress in korea.

For Example,Gwangmyeong Station-Complex Developement(광명역세권 복합단지) is delayed permanently because of Developer's PF Inferior Management.

and 151 Incheon Tower(Samsung Songdo Project) is operated by Songdo Landmark City LLC,Developer is delayed Progress because of Domestic monetary stringency(Financial Management For Construction Capital-1500 billion won)....

is it impossible to work more-progress PF Development and Stable Company Environment's Change(Workout)?

Countermeasures for Development exist.That is role of Korean Government.it is very very Important...
Although many Problem grab Construction Market,Government must help Wrecked Construction Company and Foster(Enhance) Policy of Domestic Engineering & Construction..

For Example,Republic of Korea(The Ministry of Land and Marine-국토해양부) announced 'General Policy of Korean Construction Industry and Engineering's Development'(한국의 건설산업 및 엔지니어링에 대한 육성 방안) which explains Overall Resolution of Industry Markets.

in the Policy,Sub-Contractor Practices isconverted into Main-Contractor Practices(Customs)
(Many Korean Construction Companies couldn't contract International Project and focus on International Markets,but Result of Korean Major Construction Specialist(Samsung,Hyundai,Ssangyong,Daewoo,SK),Local Developer prefers Korean Contractor.)

and Aspects of Goverment,Goverment Organiazation-Civilian Institutes(Cooperation of Center-Region) will support Development of Region to Local Construction Company!

this action is will of Positive Government,and helps good result of Korean Current Problem of Construction and Real-Estate Field(Difficulty of Capital-Distribution System)

Reply Comments by korea2002-After Impact and of Korean Industry Environment-'General Policy of Korean Construction Industry and Engineering's Development'

From where is the height of 107m?

^^ ex-Sungwon Staff

Police detain 100 Vietnamese labourers at protest over unpaid wages

Praveen Menon

Last Updated: May 06. 2010 12:43AM UAE / May 5. 2010 8:43PM GMT

DUBAI // Nearly 100 Vietnamese construction workers are in custody following an angry protest in front of the Ministry of Labour headquarters on Tuesday.

The workers were part of a group of some 200 men from various countries who marched to the labour headquarters in Al Qusais in protest against non-payment of wages. The Vietnamese protesters remained on the scene after the others left, refusing to leave without being paid.

Le Thinh Ha, the labour attache at the Vietnamese Embassy in Abu Dhabi, said: “We know that 95 Vietnamese workers have been held in police custody right now and are kept at different locations. We are trying to co-ordinate with the police about this.”

The Vietnamese workers had attempted to block the entry gates of the labour ministry, resulting in their detention. Mr Ha said the men, employees of the South Korean construction company Sungwon, should receive the wages owed to them if they were deported.

“Sungwon has not paid these workers for about three to four months,” he said. “The company has been affected by the financial crisis. Workers’ visas were cancelled, but the company has not paid them salaries or service benefits.”

The workers had previously approached the embassy seeking help, and the mission had tried to solve the problem by contacting the company, Mr Ha said. They also registered a complaint with the labour office in Dubai.

“They visited them three to four times, but nothing happened,” Mr Ha said. “This is why they were angry.”

Eisa al Zarouni, the head of the labour ministry’s inspection department, said on Tuesday that each worker was owed between Dh4,000 and Dh5,000 (US$1,360). The ministry said its investigations had showed Sungwon had serious financial problems.

The company could not be contacted.

The ministry had referred the construction firm to court after a complaint lodged by workers, resulting in an order to liquidate the company’s Dh2.2 million bank warranty. The workers are expected to be paid off using those funds.

Sungwon, which was working on several infrastructure projects, is not the only firm having trouble paying its employees. Workers from the Atlantic Emirates Group have been returning to their home countries in groups over the past few days. Many have complained they were being repatriated without receiving overdue wages.

http://www.thenational.ae/apps/pbcs.dll/article?AID=/20100506/NATIONAL/705059816/1041

^^ This sound bad to, first of all because of the workers, second because i think under the current circumstances we wo'nt see this tower (and maybe other Sungwon projects in Dubai if there are any i do'nt know) finished for the next foreseable time.

^^ It could be finished, but the RERA would have to take the development which has never been done before.

There is another project in Culture Village where a lot of investors have paid quite a lot but still just a hole in the ground

I have had nothing from Sungwon for a long time!
I telephoned their Korean Office and was told before I could speak that I ahd the wrong number!!!!
Does anyone know what is happening?
If Sungwon is filing for Bankruptcy, what can us investors do now?


Any information at all would be useful.

Sungwon are bankrupt

They are currently going through the court process to resolve their issues in Korea first.

They are a multi-national company, but I believe they hads a local sponsour here.

You need to start a facebook group or own forum to discuss action.

Please dont use this thread for investor discussions.

For all owners of sungwon projects in UAE,

We have created a facebook group "sungwon owners" please join the group

further a meeting is scheduled on Friday the 28th May.

15/July/2011

Santevill Dubai

http://i54.tinypic.com/2ldg9k2.jpg

http://i55.tinypic.com/14k8huv.jpg
4/9/2011

FYI Crane has been removed

FYI Crane has been removed

sold by the courts

Emirates 24/7

Dubai property boost: Santevill project gets finance for completion
Semi-government entity has agreed to invest money under Tanmia, according to sources
By Parag Deulgaonkar
Published Sunday, January 29, 2012
http://cdn-wac.emirates247.com/polopoly_fs/1.401819.1307585806!/image/873247308.jpg
Dubai Land Department (FILE)
A stalled project in Business Bay is likely to be among the few projects to be restarted under the Tanmia initiative of the Dubai Land Department, Emirates 24/7 has learnt.

A semi-government entity has agreed to invest money to help complete the Santevill project, informed sources said.

“The paperwork is in progress. Once it is completed, investors will be called to discuss the matter,” the sources added.

Dubai Land Department did not respond to questions sent by this website.

Santevill is a Dh400 million 25-storey tower in Business Bay and was being developed by Sungwon Corporation. Construction work on the tower, which consists of 195 apartments, has stopped since March 2011 when Sungwon filed for court receivership to and requested help from the court in rescheduling its debts with creditors.

The Tanmia initiative, launched in September 2011, aims at revitalising the real estate market by focusing on the incomplete projects under all categories. The department has appointed a number of audit firms to undertake technical and financial audits on number of stalled projects.

Sultan bin Butti bin Mejren, Director General of the Land Department, had told this website after launching of the initiative that it will cover 100 projects this year.

“One project already has approval under the initiative and two more will be signed this week,” bin Mejren had said.

In an interview with this website in October, Majida Ali Rashed, Senior Counsel Strategy, DLD, said that property owners and investors in stalled projects can approach the department to seek inclusion of their project under the Tanmia initiative.

“The (Tanmia) scheme targets the government and private sector and will help them benefit from these projects, but it not an easy task. We have to look at all the legal, technical and financial aspects before allowing another investor/developer to take over the project,” she said.

good news! Shame Koreans couldn't finish it.

Yeah great news for the area, seems to be going full steam ahead