Recently invested into Sedrawan Project in Abu Dhabi by First Gulf Bank. Does anyone know of current price per sq ft?.

What did you buy? Floor or single unit?

Was it direct from developer or resale?

Hi

I purchased in Sedrawan as well.

Current market prices are @ 8-10% premium.

Floors going for 8% and individual units are 10%.

2 Towers were released at Citiscape, 1 Tower to go.

Regards,

KJ.

Hi there, please post a render of this project

render:
http://picture.immobilienscout24.de/files/basic001/635/A/742/46412685/B_F_1_basic.jpg?1303633519
more pics here:
http://www.immobilienscout24.de/46412685;jsessionid=1F3EA28C4F0AA86C35D6AE3577F2DE05.worker1?objectTabListControl=tab.pictures&sourceOfDoTabActionControl=OVERVIEW_PICTURE&style=is24&is24EC=IS24&navigationbarurl=

A mod needs to edit thread title! thanks!

so one of these thread should be out ...
http://www.skyscrapercity.com/showthread.php?t=648770

The rate of sale was 2000 Dhs. / sqm. .. an excellent design ..

So any new happening on this project ?

Tower A was 2060 to 2090 depending on wether it had park or lake/sea view.
You can pick them up for 0% now. Payment has been delayed for 6months. I know cause i have some. SPA's are out early 09 with finance options becoming available then.

actually those prices i quoted were for higher floor so 2000 is probably right then 15 or 20 dhs every 5 floors you go up.

As per the developper they are progressing on this project & shortly ground breaking would be started.

As per the developper they are progressing on this project & shortly ground breaking would be started.

Oh no. Disaster. Now is not the time to begin projects, now is the time to consolidate whats already underway......

Oh no. Disaster. Now is not the time to begin projects, now is the time to consolidate whats already underway......

I fully concur .. but who is going to make the developper return the money on which they have already advanced bonuses to their staff !

As per the developper they are progressing on this project & shortly ground breaking would be started.

Its been almost a year since we first made payments. I think April 22nd is a year. They can not build it or afford to build it, they have no buyers and no investors will pay 1 more dhs towards it. I think they should put money from this into other properties already under construction at a much lower OP. Or into a fund...

Its been almost a year since we first made payments. I think April 22nd is a year. They can not build it or afford to build it, they have no buyers and no investors will pay 1 more dhs towards it. I think they should put money from this into other properties already under construction at a much lower OP. Or into a fund...

Jeez .. dont' tell me you a sucker like me on the FGB Project .. cause I am down right annoyed at the way they have moved on this project, let alone the customer support !

They havent moved, Just some boards and 1 digger - currently doing nothing, they dont want to admit they havent/cant start work.... hopefully they are thinking of something... other then just keeping the cash for ever and getting the nice interest of it.

They havent moved, Just some boards and 1 digger - currently doing nothing, they dont want to admit they havent/cant start work.... hopefully they are thinking of something... other then just keeping the cash for ever and getting the nice interest of it.

There should be a law that in case developer does not move on project for XX months than the project should be shelved & the investors to be returned their funds with interest as a minimum.

Is anyone anble to get some photos of the site to see whats been done so far? April marks 1 year since purchase. . .

I got the lawyers lined up for this one....

Is anyone anble to get some photos of the site to see whats been done so far? April marks 1 year since purchase. . .

I got the lawyers lined up for this one....

Do be in touch musturgent at yahoo.com, as I am very much interested to put up a joint application !

Looks like they are working on this from their website pics taken late february.

Check it out on

www.gep.ae

http://i44.tinypic.com/bit2qs.jpg

http://i40.tinypic.com/2jfga9w.jpg

Construction Update March/2009

Sedrawan Towers

http://i43.tinypic.com/300uuc7.jpg

these are the same as the photos i got end last year.... nothing goin on here... here its on hold...

I only see a 4x4 roaming around + a JCB doing nothing.

Any new happenings on this project as by now there should have been a piling sub-contractor working on the site alongwith his counter weight concrete blocks + HD equipment !

Construction Update from developer June 2009

http://www.gep.ae/progress_report_sedrawan.pdf

Construction Update - August 2009 (http://www.gep.ae/progress_report_sedrawan.pdf)

Site Progress

- Bored Piling Works completed

Construction Update - August 2009 (http://www.gep.ae/progress_report_sedrawan.pdf)

Site Progress

- Bored Piling Works completed

Adam : It might be that my eyes is not catching up everything, but I don't see any difference between the March 2009 & August 2009 photos which are posed just above your post ?

Adam : It might be that my eyes is not catching up everything, but I don't see any difference between the March 2009 & August 2009 photos which are posed just above your post ?

As far as I know GEP has quietly allowed consolidation on this project into
one other tower.

As far as I know GEP has quietly allowed consolidation on this project into
one other tower.

Please elaborate.

Nothing happening ?

Any more guys who have un-settled issues with Sedrawan Towers / GEP / FGB !

In korea,I heard and saw related news about this project,Al Reem Island,UAE.

2010.3.18 Press Released News...

Korean Main-Contractor will negotiate This project's Construction works in 2010 April.(Sedrawan Residential Complex-37~44 floor-3 clusters)
Namkwang Engeneering!!
Company Homepage-https://www.namkwang.co.kr/Eng/
If you want to see more information,I will upload related Material Later..

Contractor is Korean.

In korea,I heard and saw related news about this project,Al Reem Island,UAE.

2010.3.18 Press Released News...

Korean Main-Contractor will negotiate This project's Construction works in 2010 April.(Sedrawan Residential Complex-37~44 floor-3 clusters)
Namkwang Engeneering!!
Company Homepage-https://www.namkwang.co.kr/Eng/
If you want to see more information,I will upload related Material Later..

Contractor is Korean.

Korea .. are you sure about it .. cause from all the googling I ended up with the project of Namkwang for plot # "RT3-C13 AL REEM ISLAND PROJECT", alors Sedrawan is not on the same plot !

Maybe GEP is making a Sedrawan on another place on the island !! hahaha !! (i know them .. no wonder the laughter) !

http://img251.imageshack.us/img251/209/95523827.jpg

Namgwangtogeon "04 weeks this spring, four more than expected foreign

Namgwangtogeon (NYSE yidongcheol) the first half, Turkey, Mongolia, Vietnam, United Arab Emirates (UAE) at more than four orders of the overseas business is expected.

The company targets the coming weeks ₩ 350,000,000,000 overseas plants, such as holding the aggressive moves are continuing.

Namgwangtogeon a total of 10 billion dollars of Turkey, Eurasia undersea tunnel project, for the construction of SK, the Far East Construction, hansingongyoung, samhwangieop before a contract is involved in such a consortium.

Istanbul, Turkey, during the project (市) and Boss Four Ruth Strait to mainland Europe and Asia, divided into 5.4 ㎞ double-layer tunnel is connected to the business. Tunnel, access roads, Tollhouse (Tollgate), to replace the three-dimensional (IC) also to the construction, the total length of 04 to 14.6km (including access roads) gongsada nearly large civil engineering. BOT (design, construction, maintenance and operations) as of 55 months after the contract period is 04. Maintenance and operation 25 years after completion of the construction plans yirwojil 11 months.

In the Mongolian capital Ulan Bator namgwangtogeon 20 ground floor, size Underground 2 (5 만 GFA 7000m ²) and build a business of the Hotel Shangri-La hotel construction project that is scheduled for construction contracts. Approximately 80 million U.S. dollars to gauge the size of this project in Mongolia, civil, social overhead capital (SOC) is planning to promote such projects.

In addition, the company in Vietnam, Hanoi - Haiphong 105.5km entire line of high-speed 09 to 10 already under construction and two extended gongguin 12.8km, Norfolk 33m (6 car) the car-only road construction contract that is imminent. Project cost about 102 million U.S. dollars, 04 36 gaewolda period. The subway line 5 with Hanoi, putoseong projects such as sewage treatment plants are.

United Arab Emirates (UAE) capital Abu Dhabi in the next month (Abu Dhabi) Al Rim Island (Al Reem Island) 160 million U.S. dollars of development projects on the scale of the project is bid. 20 04 1 만 package, one of 704 ㎡ land area of 37-44 in the three-story building is a construction business. Already last year with SK Engineering & Construction namgwangtogeon sujuhan complex construction of C-13 Block 04 (size 373 million U.S. dollars) is working on.
In addition, the last in 2005 so far attracted 330 million U.S. dollars in Angola by the sales of high added as the project proceeds, the company said. Recent interest in attracting high-speed railway project, the Brazilian participation in the consortium plans to bid.

Head of International Business namgwangtogeon seomyeongsu plant "technologies based on competitive and profitable activities abroad this spring, 4-5 weeks suggests the project is ahead of the contract," said "our own efforts, not the Association of Overseas Construction, Korea Export-Import Bank, Korea Export Insurance Corporation and other support has been very powerful. We also plan to increase overseas orders continue, "he said.

Focus on Underline page..

Al Reem Island Projects
http://img251.imageshack.us/img251/209/95523827.jpg

http://img153.imageshack.us/img153/8711/71741491.jpg
Developer Homepage-https://www.namkwang.co.kr/eng/default.asp
Al Tamouh Investment-www.tamouh.com
Architecture Homepage-http://www.kunwon.com(old),http://www.kunwon.com/indexskip.asp(new)

http://www.gep.ae/progress_report_sedrawan.pdf

maybe..it is On-hold now..because of change of the Contractor..
after April,project will restart...

http://www.gep.ae/progress_report_sedrawan.pdf

maybe..it is On-hold now..because of change of the Contractor..
after April,project will restart...

Korea2002 : Definitely the Sedrawan is "OFF" .. I was at Abu Dhabi Cityscape and they confirmed that the only project which GEP has in City of Lights is something called C2 & C3 Marina Bay projects and they are both at Plot RT-3-C2 & C3.

Originally Posted by korea2002
http://www.gep.ae/progress_report_sedrawan.pdf

maybe..it is On-hold now..because of change of the Contractor..
after April,project will restart...

Korea2002 : Definitely the Sedrawan is "OFF" .. I was at Abu Dhabi Cityscape and they confirmed that the only project which GEP has in City of Lights is something called C2 & C3 Marina Bay projects and they are both at Plot RT-3-C2 & C3.

So ...

Guys I got my money back with finance charge from GEP / FGB via Abu Dhabi courts.

The project looks all but cancelled.