#PROJECT: THE PALM JEBEL ALI

[firoz bharmal]

Originally Posted by FM 2258

It looks like not enough people are moving to Dubai.

What...are you serious.....just by looking aerial pic.........see other forum also....!

[Alrayyan]

The top fronds are being swallowed by the gulf !! This island is sinking :S

[The-King]

as far as i know the top fronds have never been fully completed, so NO not sinking

[Alrayyan]

Originally Posted by The-King

as far as i know the top fronds have never been fully completed, so NO not sinking

Oh yes they were </3

[The-King]

no they wer not, you know why?

the photo you posted shows the original design with the fronds being much smaller then they are now.

After the completion of the reclamation works (for the first time) there has been a redesign of the layout resulting in much much bigegr and longer fronds.

If I remember correctly this was due to the fact that they wanted to place much more houses on the fronds.

Here you see the original layout:
https://browse.digitalglobe.com/imag...10010005BFF200
(note the distance between end of the fronds and crescent)

Here you see work is underway for extending the fronds:
https://browse.digitalglobe.com/imag...10010008778F00
(note how lower fronds are already expanded with new brighter sand and top ones are still under construction)

Here is the progres as of 2009 (I believe work already halted at that date)
https://browse.digitalglobe.com/imag...1001000B79B100
(note how top fronds are not completed)

And here the status as of 2012
https://browse.digitalglobe.com/imag...3001001033AA00
(top fronds not completed but you can clearly see how no erosion has taken place in the last three years between 2009 and 2012)

so in conclusion, NO significant swallowing of the palm by the gulf

[FlyBoy340]

I"m no expert on land reclamation but I think the erosion issue, if there is any, is just a non-issue. I suspect it would not cost much to do some additional reclamation and shaping and compaction when the time comes to re-commence work - Palm Jumeirah occasionally required some 'touching up' from time to time from what I've read..

What I am more interested in is the recent announcement of large theme parks in Jebel Ali showing renewed commitment to this end of Dubai - that is very encouraging. Of course I am very disappointed that PJA was not included in this announcement.

It seems like they are very keen to win the 2020 World Expo to be based in Jebel Ali. They are competing with Brazil and Thailand for this and the winner will be announced in Nov 2013 from what I've read. Perhaps our fate will be connected to this?

[williteverbebuiltnow]

Originally Posted by Alrayyan

Oh yes they were </3

The-King is right. The picture of the fronds "complete" is pre the extention work that went on. Nakheel in their wisdom added a third to the length of each frond. if you look at the widening in The-King's picture (not easy at the rather oblique angle) in each frond about 2/3rds of the way down, they are the old frond tips that were then extended. Unfortunately the company that was doing the reclamation work (Van Ord) worked out that Nakheel had stopped paying...so downed tools mid reclamation...thus the rather unfinished profile we can currently see.

I guess we should all hope that Dubai wins the Expo 2020...that would give them an incentive to get on with PJA...not a great look to have a stalled project right on your doorstep when the world's eyes are upon you...

[Jim Hensler]

Here's some interesting stuff that went on a couple of weeks ago right in front of the Tiara and building 10.
The guys spent a few hours making this beach pool and the dredged sand was pumped ashore to level the beach. Possibly too shallow for the dredger to come inshore and deposit direct.
The work here has been intense and beach profiling is a lot more involved than I first thought. The major effort has been below water level up to 15 metres from the water line..
They were struggling to cope with the flow but some nice engineering nonetheless.

[Jim Hensler]

Sorry guys: This is Palm Jumeirah.

[houshang]

Originally Posted by Jim Hensler

Sorry guys: This is Palm Jumeirah.

NO, it is Palm Jebel Ali
Happy New year (2050)

[DkyDky]

He meant the pictures he posted.

[houshang]

Originally Posted by DkyDky

He meant the pictures he posted.

you don`t get it.

[DkyDky]

Originally Posted by houshang

you don`t get it.

Now I do!

[houshang]

I am not serious about 2050, in fact Nakheel is now closer to restart PJA than any time(even mathematically!) as property market is improving but that would happen only when the project is profitable and self-financing. Nakheel restarted final phase of Jumeira Park (previously cancelled indefinitely ) on the same ground.

[bister]

Originally Posted by houshang

I am not serious about 2050, in fact Nakheel is now closer to restart PJA than any time(even mathematically!) as property market is improving but that would happen only when the project is profitable and self-financing. Nakheel restarted final phase of Jumeira Park (previously cancelled indefinitely ) on the same ground.

With all respect, there is a big difference between finishing a final phase of a small project such as Jumeirah Park and restarting PJA with billions and billions $ of liabilities. The big question is when the market develops a big enough appetite.....

[houshang]

bister
I agree with you, PJA is a huge project but Nakheel would be able to handle it when the project becomes self financing one and when it is seen as a revenue generator rather than a debt creator.

[cguria]

I'm sure after almost a decade of waiting, most investors have backed out by now. I am still waiting..

Just paid a little visit to Nakheels office today, they are offering 91-92% credit notes or 2-year payment plans through Nakheel itself on other projects, undermining the new regulations passed for minimum loan to value ratio. Last year around the same time they were offering around 70% if I remember and a duplex apartment in Jumeirah Heights. These are now sold out but still available in the market of course. All they have to offer now is Al Furjan which is in Jebel Ali behind Ibn Battuta and Discovery Gardens, and for a price double its actual value. 6m for a 6-bedroom villa, with great finishing but in the middle of desolate nowhere. This is the value of a property once there is greenery and life in the community, like the neighboring Discovery Gardens, but it could take 2-3-4 years for that.

Nakheel would only benefit by restarting the project since they have bought back most of the land, and if launched today I'm fairly certain would be close to double the value from when it was launched.

With projects like al furjan in the pipeline, half of jumeirah park yet to be constructed, and last years announcement of Palma Residence on PJ which again was overvalued and underscheduled for completion, Nakheel never fails to confuse.

I think by year end we will get out if we dont see any improvement from Nakheel despite the soaring market conditions. Maybe an announcement of Dubai for Expo 2020 will change things or maybe we'll just be waiting another decade for our homes.

[cguria]

All in all, it is a gamble. Come out at a loss of 20-30% of your initial investment (from loss of interest or by accepting any of their offers), or wait a year or two, or five.. and see the value of your home double upon relaunch.

[Nimo1]

what do you exactly mean by....they are offering 91-92 percent credit note.

[building1]

Originally Posted by Nimo1

what do you exactly mean by....they are offering 91-92 percent credit note.

It means that you could get back 91% of your payments to Nakheel if you cancel the contract.