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Old January 7th, 2015, 12:38 PM   #121
AltinD
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Quote:
Originally Posted by R_g View Post
50%.

yes, this isnt dubai only.
who loaned dubai a metric **** ton of money to finish the burj?

again, consider the people buying/renting these units. they didnt make their money from timber.
That money didn't go to the Burj, it went to the Government of Dubai that was not involved with the construction of the tower. Emaar (the developer) did not have a debt and liquidity problem, Dubai Properties and Nakheel did.

The people who buy/rent those units make money from an array of business, just like everywhere else, timber trading included.
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Old January 7th, 2015, 08:44 PM   #122
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Because the money came from Skeikh Chalifa bin Zayed al Nahyan and the rename of the tower from Burj Dubai to Burj Khalifa was the way to thank him for this aid.

And please keep writing correct facts and not any assertions, which are based on your prejudices.
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Old January 7th, 2015, 08:56 PM   #123
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The money went to the royal family of Dubai, who funded the construction of the tower in company with the developer Emaar. And the family and the developer decided to rename it because of the aid.
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Old January 7th, 2015, 09:12 PM   #124
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dubai investments are the single largest shareholder in emaar so yes government of dubai controls emaar
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Old January 8th, 2015, 08:31 AM   #125
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Yeah, but Emaar was not in Financial troubles. The AD money (which is already paid back to them BTW) went to pay maturing debts of other entities.

Plus, I don't get all this bullcrap about the importance of the AD loan. Paying out old debts by taking new loans at lower interest rates is how it functions everywhere, not to mention 20 Billion was nothing special considering the total Dubai Government debt, or the really outrageous amounts involved on real bailouts elsewhere "cough" "cough"
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Old January 8th, 2015, 08:57 AM   #126
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I find it cute that you guys argue about Dubai source of income? Maybe you can try to google it, there might be an answer for it.
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Old January 26th, 2015, 10:33 AM   #127
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The plot has been boarded up and the machineries started arriving on site (at least a crane)
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Old January 26th, 2015, 03:06 PM   #128
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Crane is a good sign.
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Old January 26th, 2015, 07:27 PM   #129
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Don't expect Dubai 's coming back with these all supertall towers

Hope for more... !
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Old January 27th, 2015, 03:54 AM   #130
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Dubai is indeed unstoppable, in terms of number of supertalls it leads by such a big number and it is still among the fastest growing, so even shezhen will have a hard time catching up
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Old January 27th, 2015, 07:39 PM   #131
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Maybe it's the only city near New York who has a chance...
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Old February 11th, 2015, 03:32 PM   #132
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The ground work contractor are the French of 'Soletanche Bachy'. Three - four of their machinery on site now.

Among their previous work in Dubai have been soil vibro-compacting on the two Palms as well as the ground work done on the Nakheel Tower site.
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Old February 26th, 2015, 02:30 PM   #133
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Today



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Old February 26th, 2015, 02:57 PM   #134
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Any ideas when prep work is finished and it will move to U/C?
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Old February 26th, 2015, 03:07 PM   #135
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WoW

Sheikh Zayed Road will be the longest avenue of the world with the most supertalls next to next.
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Old February 26th, 2015, 03:44 PM   #136
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Won't be long now this one will be officially under construction .. Dubai is on fire
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Old February 26th, 2015, 04:25 PM   #137
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Indeed. The machines we can see in the recent update are used to build retaining walls and as soon as they finish, they will either start over with piling or excavation, but excavation seems more likely because they could've started the piling works while these machines are operating
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Old February 26th, 2015, 04:30 PM   #138
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Old February 26th, 2015, 04:40 PM   #139
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Now imagine, that Dubai Park will be build including One Park Avenue and the other supertall I can't remember the name of
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Old February 26th, 2015, 08:40 PM   #140
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Surreal city
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