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#COMPLETED: UBORA TOWERS, 56F+16F Com+Res, 256m (Business Bay)

217K views 1K replies 115 participants last post by  Oasis-Bangkok 
#1 ·
Business Bay signs with first Korean investors

Dubai Properties- a member of Dubai Holding, today sold three plots of land worth US $ 100 million each to Korea's top construction firm, Bando Housing Corp, which will be constructing a US $ 350 million twin tower residential, commercial and retail development at Business Bay.


DP & Bando Housing Corp

The purchase agreement was signed by Hashim Al Dabal, CEO of Dubai Properties and Hong-Sa Kwon, Chairman of Bando at a ceremony attended by officials from both organizations.

At the signing ceremony, Hashim Al Dabal commented on the agreement: "We are glad to sign this agreement with Bando, which is the first Korean firm to invest in the Dubai property market. We are proud of the confidence that international investors have shown in Dubai's real estate sector and in Business Bay in particular."

"Business Bay is, in our opinion, the center of not just financial activities, but also the commercial activities. Our vision is to bring the best of Korean skills and technology, including intelligent building, to the Dubai market," stated Hong-Sa Kwon.

The project consists of two 50-storey towers and Bando will apply advanced technology and design to create 'new age' and 'intelligent' buildings that offer for the first time the region 'mobile home networking' capabilities.
 
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#951 · (Edited)





















One of the issues with U-Bora Towers is it complexity and the Korean Developers attention to detail. From being in the basement, you can see all the cable tray and pipe work has to bend with the building curve as the plot itself is arched. So many different parts and styles, lobbies and features.

On top of the podium is a transguard to tie in the residential structure which also comes wider at the top. Hence the 2.8M debth of steel going in.

This building is unique in build as most towers are simply a repeat of what is below, I dont think U-bora towers repeats itself anywhere?
 
#956 ·
I got this today , :
............
Dear Sir/Madam


We are updating the owner’s information; please find attached the details that we have.

If the information is correct please return a simple email with your unit number and “correct info”.

If you find an error or wish to adjust any information please reply with the update attached.

We also have been updating our construction progress using youtube, below is the link where you can see the construction going on

http://www.youtube.com/watch?v=ycV2LlgObCs.

For any enquiry please contact me on info@bando.co.kr

Thank you for your collaboration in advance.

Kind Regards
.............
have you got the same?
 
#959 ·
Developers change contracts to finish projects on schedule

By

Sona Nambiar on Thursday, May 28, 2009

The construction industry is witnessing a rise in developers and consultants changing contractors or sub-contractors on projects or renegotiating contracts due to dropping prices of construction materials in Dubai.

Investors on the U-Bora Towers project in Business Bay recently told Emirates Business about a letter sent from Bando Engineering some months ago. The letter stated that the anticipated completion date for the project has now changed to March 31, 2010.

The Korean firm was transparent about the period of construction affected (May to November 2008) and explained in the letter to the investors that having completed the termination procedures, the company could now state that the sub-contractor, Simplex Infrastructures Ltd, had defaulted on its contractual obligations. The situation had lead to a temporary "suspension of construction activities in the course of work.

Ian Powell from the Business Development section at Bando said: "Due to the rise in construction costs last year, Simplex, the sub-contractor could not provide the labour, materials or equipment and left the site office. We were in a difficult situation because we wanted to continue the project. So we took on Bolim, a Korean sub-contractor and let them take over in November 2008."

Concrete is being poured on the 11th floor of the office floors and Bando is now on the 14th floor in the core stage. "The podium level has been completed. It is a complex building," said Powell.

"Our biggest problem in giving final dates of completion lies in the fact that we have difficulties in getting dates for utilities and infrastructure from the master developer. We realise the problems they are facing due to the current market situation. We are hoping that the situation is resolved as soon as possible. There was a delay in the letter to investors due to the confidential nature of the contract between us and Simplex," said Powell.

Simplex, when contacted, did not elaborate on the situation and only stated that they were no longer part of the project.

Yesterday, Nakheel, announced the "successful restructuring of a contract" with Suez Environnement- Degremont and Besix, to design, build and operate a 220,000 cubic metre per day sewage treatment plant at Jumeirah Golf Estates.

The agreement provides for the "re-engineering and re-programming" of the treatment plant project to better suit the revised population needs in Dubai.

They have jointly agreed to cooperate on a 30-year long term partnership basis for the development of 50 per cent of the present capacity of the plant.

Meanwhile, Schön Properties, developers of the Dh3 billion Dubai Lagoon Development, sent a company release two days ago saying that they "have reviewed their approach to expedite the delivery of their flagship six million square foot development to the investors".

In an emailed statement, the developer said in order to "accelerate the construction" of the apartments in the development, it replaced the "underperforming Power Line Gulf Construction Dubai" and appointed Bin Sabt Building Contracting Company, along with Belhasa Contracting and Engineering Company as the "two preferred contractors".

The building permits have only recently been transferred to Bin Sabt, said the release. Handover of the first 442 units is expected by end-2009.

http://www.business24-7.ae/Articles...5282009_e9558387cb044891bcf20a81b0bdbdf8.aspx
 
#971 · (Edited)
letter from the Bando , still lying about the handover date:

...........

Dear ....

Please be aware that representation by a group of investors is not recognized to our
company.

Be advised we are following our contract and RERA regulations as we are an approved developer.

The anticipated completion date has been moved to March 31st,2010 due to default of sub contractor.

We hope we have eliminated any concerns and continue to focus our efforts on completing the development.

Yours Sincerely

Bando Engineering & Construction Co., Ltd

............


they are just loosing their credibility with irrealistic news ,still dont understand whey they are not say that the completion date is in 2012-2013???
 
#976 ·
As you know I bought with you guys at 2000AED plus sqft, but I sold out after 2 months.
Think some of us did the same also. I was not charged any resale / transfer fee so was happy.

I can see is that prices have significantly come down. Also many developers are unwilling to communicate with their buyers.
Two problems that I mentioned a long time ago about the new laws.

1. Escrow doesn't actually help as all money is tide up into the project so just getting a refund is difficult due to where would that money come from.

2. Courts will probably side on the developers side in the majority of cases. Due to any suit against a developer probably would be a case against the Government.

I also guess offering anything at this stage would be difficult because the project is so long off to completion, will the market recover? Who really knows.

All I can say as a buyer with other units here is that I just happy it's going up, rather than being a hole in the ground.
 
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