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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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#984 · (Edited)
Imre is right- the price isnt the reason to be upset! its that they are telling us ubora will be done in march!!! i mean- are they trying to make fun of investors or what?

i really cant see any other reason for saying such a thing. (ok- another reason might include that the engineers are part of a cult whose cheif priests promised devine intervention on the 28th of february 2010)

if one approaches a business partner in a serious and respectable manner with valid reason for concern, then there is absolutely no doubt that it is necessary to respond in an adequate manner... but then again, these guys (developers) are ALL sitting on hot potatoes, be it in dubai, the usa, HK or wherever! half of them probably wont make it through the coming years.
 
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