#PROJECT: THE PALM JEBEL ALI

[Chat123]

Hi
I also have a contract for a water home based in the UK. There are so many rumours going on just now, I was going to cash in on credit notes but have decided to stay put for the time being.

Are there any other UK investors here? I would appreciate your thoughts.

[williteverbebuiltnow]

Originally Posted by Chat123

Hi
I also have a contract for a water home based in the UK. There are so many rumours going on just now, I was going to cash in on credit notes but have decided to stay put for the time being.

Are there any other UK investors here? I would appreciate your thoughts.

I look at this in terms of the financial health of Nakheel (rightly or wrongly)
The company made a profit last quarter (small but positive).
Their Sukuk issue is now trading just below par. This bond was issued at 81.25.....it bottomed at 66.50 and is now trading at 98.5 that tells me that the market thinks that Nakheel is pretty healthy financially compared to where it was 6 months ago.

My view is that Nakheel must be laughing its socks off everytime they get handed back a PJA plot on a swap...would not surprise me if they are actively targetting PJA investors in this regard. They will have to tear my contract out of my cold dead hand if they want it back...

[bister]

Originally Posted by williteverbebuiltnow

I look at this in terms of the financial health of Nakheel (rightly or wrongly)
The company made a profit last quarter (small but positive).
Their Sukuk issue is now trading just below par. This bond was issued at 81.25.....it bottomed at 66.50 and is now trading at 98.5 that tells me that the market thinks that Nakheel is pretty healthy financially compared to where it was 6 months ago.

My view is that Nakheel must be laughing its socks off everytime they get handed back a PJA plot on a swap...would not surprise me if they are actively targetting PJA investors in this regard. They will have to tear my contract out of my cold dead hand if they want it back...

While there is some sense in your arguments I just dont see how Nakheel can finance PJA, there is a long to go. Then there is the small question of demand? Well, if you have 10 year view you may get rewarded.

[Chat123]

Originally Posted by williteverbebuiltnow

I look at this in terms of the financial health of Nakheel (rightly or wrongly)
The company made a profit last quarter (small but positive).
Their Sukuk issue is now trading just below par. This bond was issued at 81.25.....it bottomed at 66.50 and is now trading at 98.5 that tells me that the market thinks that Nakheel is pretty healthy financially compared to where it was 6 months ago.

My view is that Nakheel must be laughing its socks off everytime they get handed back a PJA plot on a swap...would not surprise me if they are actively targetting PJA investors in this regard. They will have to tear my contract out of my cold dead hand if they want it back...

Thanks for that it does make sense although I also think the following comment suggesting a 10 year wait may also be correct. 10 years is not so long for an investment and just an announcement means that they will increase. Investors would pay good money for properties with this potential. The sticking point even in the event of a positive announcement is the credibility of the company. Does anyone trust Nakheel anymore?

[Nimo1]

I do not know were this 10 years come from remembering that 10 years ago the palm projects had not even been launched, so 10 years is a very long time in Dubai.
As I hear Nakheel is going ahead with infrastructures on Palm Jebel Ali right now. It does not seem logical that Nakheel spend so much money now if the restart of this project was not imminent. Nakheel with a tight budget would have spent the money on a shorter term project to recoup the return quicker.

[houshang]

williteverbe...... and Nimo1
Perfect analyses.
Thank you

[noir-dresses]

How's the infrastructure coming a long here, are the bridges at least finished ?

[Chat123]

Nice to see some positive comments about PJA for a change. I am not sure if the bridge is built but there have been some good images on the PJA Facebook page with work in progress taken just a couple of days ago.

[i love supertalls]

but in general the situation like this the Palm Jebel Ali, it is in the works or paralysis, and who still follow the maintenance of it as the erosion?

[Opus 2009]

Originally Posted by Chat123

Nice to see some positive comments about PJA for a change. I am not sure if the bridge is built but there have been some good images on the PJA Facebook page with work in progress taken just a couple of days ago.

Could you please post a link to that page?

[Chat123]

Here you go Opus 2009

http://www.facebook.com/groups/51689104204/

Really worth joining as we have some really helpful people in the group.

[Opus 2009]

Thankyou. Appreciate it. Just checked out the pics- there is obviously some activity going on at the PJA.

[building1]

Could you post some pictures please.

[Chat123]

[QUOTE=building1;92762564]Could you post some pictures please.[/QUOTE

They are all on the Facebook page posted by Chris. Just click on the link above and you will see them. He took them a few days ago so they are current.

[houshang]

you need to LOGIN to be able to see the pictures, so you need to be a facebook member or register as one.

[Chat123]

Sorry. They are not my images but I will try to save them and post here. Please bear with me.

[Chat123]

[Chat123]

I cant post image links from Facebook. Unless there is another way of uploading them.

[Face81]

Originally Posted by Chat123

I cant post image links from Facebook. Unless there is another way of uploading them.

Use www.tinypic.com and post the link here

[Slimbo]

You don't need to use Tinypic, just right click, go to image properties and copy and past the URL into image tags on here like so:









I really don't think it's anything to get excited about.