#NEVER BUILD: TRUMP INTERNATIONAL HOTEL & TOWER, 62F Res+Hotel, 270m (Palm Jumeirah) - Page 40

mrobbie · March 17th, 2009, 05:51 AM

On the other side of the station, they have started covering over the foundations - last night there was a large amount of activity (cement trucks) all through the night pumping concrete into what looks to be the last section before it can all be covered.

I read an article the other day (can't remember where - on here?) that menioned " a sprawling 7.8-hectare Central Park"... Now, having bought a Shoreline apartment with direct Trump views, which was most appealing at the time, I can't help think that looking over the Palm Jumeirah Central Park sounds just as, if not more, appealing to have as a view.

Andy W · March 17th, 2009, 08:03 AM

Quote:

Originally Posted by mrobbie

On the other side of the station, they have started covering over the foundations - last night there was a large amount of activity (cement trucks) all through the night pumping concrete into what looks to be the last section before it can all be covered.

I read an article the other day (can't remember where - on here?) that menioned " a sprawling 7.8-hectare Central Park"... Now, having bought a Shoreline apartment with direct Trump views, which was most appealing at the time, I can't help think that looking over the Palm Jumeirah Central Park sounds just as, if not more, appealing to have as a view.

I agree. A park would be a welcome addition to the palm and we don't need another building site for the next 2 years. How about a tennis court? !!

Richard Head · March 17th, 2009, 11:47 AM

Quote:

Originally Posted by Andy W

I agree. A park would be a welcome addition to the palm and we don't need another building site for the next 2 years. How about a tennis court? !!

Nah, jogging track. Sitting outside the Golden Mile Cafe on a sunny spring day watching fit birds jogging - result. Especially if they get a license like the beach bars

Richard Head · March 23rd, 2009, 10:37 AM

As of this morning, on the left side the big red main construction crane has been removed and sand is being pushed over the foundations. Right side a little further behind, still finishing capping off the foundations. It's definitely game over here for the time being, in case anyone still had any doubt.

On the positive side, it shouldn't take long for them to get some grass down and prepare the park area. Certainly by the time the weather is nice enough for park life after the summer it could easily be ready.

Goss · March 23rd, 2009, 11:06 AM

Any news on the village Centre Richard.Is there still activity there?

dbxdude · March 24th, 2009, 09:47 AM

Quote:

Originally Posted by impact26

Plz dont blame ur ignorance on some 1 else. Nakheel hasnt cancelled the project delayed it. and they know that no1 will be able to buy @ $3000 Psf now. most people i know including me are ready to default on this one cuz doesnt make sense to pay any other payments when you knw thrz no buyer for very long term. Lets face it we brought everything without thinking.

i also heard from some broker Nahkeel issueing crd note for this project will check it from Nakheel how far ture is stands. will keep u guys informed on that

Thought about this comment for a while..... actually who paid 3000 usd psf? i paid 1600usd, and if complete, wouldnt this be like owning a room in the burj al arab? wonder what the return on those rooms are?..... probably would not have been a bad investment if completed.

Richard Head · March 24th, 2009, 10:59 AM

Quote:

Originally Posted by dbxdude

Thought about this comment for a while..... actually who paid 3000 usd psf? i paid 1600usd, and if complete, wouldnt this be like owning a room in the burj al arab? wonder what the return on those rooms are?..... probably would not have been a bad investment if completed.

And at that price, probably still will be a great investment long term, assuming it doesn't get cancelled altogether. They are certainly going to some lengths to complete and properly protect the foundations, so you have to believe that even if the money isn't there right now, the will certainly is. Good luck dude.

Paul Dubai · March 24th, 2009, 11:48 AM

Nakheel needs to sell a substantial part of the Trump Tower in order to build it. Who would pay 9000aedsq/ft now? The rest of the palm would have to rise to 5000sq/ft before people would even think about paying almost double for the Trump Tower. This could take years and years..............

Richard Head · March 24th, 2009, 12:40 PM

Why would they need to sell at 9000, if dbxdude paid under 6000 at launch, and construction costs have dropped significantly since then. They could probably sell now at 4000 - 5000 comfortably. Shorelines with the best sea views still appear to be worth 1700 - 2000, Trump is in an entirely different league altogether. So if we are at or near the bottom I really don't see why this can't be relaunched in 12 - 18 months when confidence is back. With the flippers all buried this will sell to high net worth individuals, so lack of credit is not likely a major issue.

Paul Dubai · March 24th, 2009, 09:11 PM

Nothing was sold here at less than 8000psf.......

I paid more for a high floor burj view unit.

dbxdude · March 24th, 2009, 09:42 PM

error in my maths. i bought at 6900 psf. Same error may have led to some other investment Mistakes! I tried like hell to sell at 9000 but those buggers put in a 1 year condition.... dam... that cost me a nice sunseeker...albeit a small one

Paul, unless something happens and this market picks up will you still be able to replace your lambo with the 09 model?...

Times r tough enough!

P.S you cannot get a credit note, but if u have another unfinnished property with nakheel u can transfer the amount to that or find someone who needs it and sell it to them. i think credit is trading 10% of OP. Its a total pain the the butt... but what to do.

Paul Dubai · March 25th, 2009, 09:22 AM

Quote:

Originally Posted by dbxdude

Paul, unless something happens and this market picks up will you still be able to replace your lambo with the 09 model?...

Times r tough enough!
.

By the time it all picks up I will probably replace it will a 2011 model, thats if Lamborghini are still in business!

What did you get for 6900psf?

impact26 · March 31st, 2009, 04:33 PM

Well Nakheel is allowing to transfer funds from Trump to any other project. that simply means they are not going to built it ever or will resell it at different price. i dont think people cancelling trump now will be again buying it for LONG LONG TIME. BTW pm me if some1 wants to know how to get the funds transfered from it.

Paul Dubai · April 27th, 2009, 02:15 PM

Has anyone got anywhere with refunds or credit notes with Nakheel?

Dubai_Steve · May 30th, 2009, 11:12 PM

Work on iconic Trump Tower in Dubai halted indefinitely and site levelled

It was to be one of Dubai's flashiest developments and success was assured by the Trump name. But now the Trump International Hotel and Tower site has been levelled and what was to be the centre piece of developer Nakheel's prestigious Palm Jumeirah project will fall quiet.

Nakheel, which was developing the project, first called a halt at the end of last year and a statement said that they project was delayed. Now it has been suspended indefinately.

The Al Habtoor Leighton Group confirmed that it is finishing levelling work and it will leave the site next month. A spokesman admitted that they have no idea when work might re-start but the site is ready for a possible resumption in the future.

'Initially they (Nakheel) thought it would be six to 12 months, but the honest answer's going to depend on what happens in the market. It's a high-end product, so it's got quite an unusual market,' said David Savage, the managing director of Al Habtoor Leighton Group.

'We're finishing off the ground levelling and will be leaving the site in the next month. Nakheel stopped the contract but we kept working with them to get the site closed up,' he added.

Trump Tower was to be the first in the region for global property entrepreneur Donald Trump. He even attended a lavish even in New York to launch the project.

Nakheel has delayed work on most of its high-profile projects, including Palm Deira, The Universe and Nakheel Harbour and Tower. Many of Dubai's iconic construction projects are either cancelled or on hold as the global property crisis hits the region hard.

http://www.propertywire.com/news/mid...905303153.html

PaulDubai · June 26th, 2009, 06:58 PM

Now that the Trump Tower is cancelled has anyone got their money back from Nakheel?

mrobbie · June 28th, 2009, 08:29 AM

Quote:

Originally Posted by PaulDubai

Now that the Trump Tower is cancelled has anyone got their money back from Nakheel?

Quote:

Originally Posted by Dubai_Steve

Nakheel, which was developing the project, first called a halt at the end of last year and a statement said that they project was delayed. Now it has been suspended indefinately.

...going by the above, its still not actually cancelled.

PaulDubai · June 28th, 2009, 10:48 AM

Quote:
Originally Posted by Dubai_Steve
Nakheel, which was developing the project, first called a halt at the end of last year and a statement said that they project was delayed. Now it has been suspended indefinately.

Quote:

Originally Posted by mrobbie

...going by the above, its still not actually cancelled.

So what is "SUSPENDED INDEFINATELY" mean??? Could be 10 years before they build this and buy then it wont be the Trump Tower or even have the same design..... The Trump Tower that was marketed and people bought into is definatley cancelled......

mrobbie · June 28th, 2009, 12:40 PM

I'm fully with you on that part, however IMHO Nakheel will never (in the near future) admit to it being cancelled....

From what I read, its suspended/on-hold and therefore no refunds applicable. At the current time, even if it was cancelled, I reckon the most you would get would be a credit note to spend on another Nakheel development.

PaulDubai · July 6th, 2009, 02:48 PM

Quote:

Originally Posted by mrobbie

I'm fully with you on that part, however IMHO Nakheel will never (in the near future) admit to it being cancelled....

From what I read, its suspended/on-hold and therefore no refunds applicable. At the current time, even if it was cancelled, I reckon the most you would get would be a credit note to spend on another Nakheel development.

Nakheel are their own worst enemy, nobody will want to do business with them again. You cannot market a product to the international world, take deposits and payments on it. Decide that they cannot build it as they did not sell enough units to fund the construction and then keep the clients money anyway!

The international press will get hold of this and when they do, it will put people off of buying in Dubai forever........

March 23rd, 2009, 10:37 AM	#784
Richard Head Registered User Join Date: May 2005 Posts: 1,036 Likes (Received): 0	As of this morning, on the left side the big red main construction crane has been removed and sand is being pushed over the foundations. Right side a little further behind, still finishing capping off the foundations. It's definitely game over here for the time being, in case anyone still had any doubt. On the positive side, it shouldn't take long for them to get some grass down and prepare the park area. Certainly by the time the weather is nice enough for park life after the summer it could easily be ready. Last edited by Richard Head; March 23rd, 2009 at 10:42 AM.

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March 17th, 2009, 05:51 AM	#781
mrobbie Registered User Join Date: Oct 2007 Posts: 185 Likes (Received): 0	On the other side of the station, they have started covering over the foundations - last night there was a large amount of activity (cement trucks) all through the night pumping concrete into what looks to be the last section before it can all be covered. I read an article the other day (can't remember where - on here?) that menioned " a sprawling 7.8-hectare Central Park"... Now, having bought a Shoreline apartment with direct Trump views, which was most appealing at the time, I can't help think that looking over the Palm Jumeirah Central Park sounds just as, if not more, appealing to have as a view.

March 23rd, 2009, 11:06 AM	#785
Goss Registered User Join Date: Mar 2006 Posts: 425 Likes (Received): 0	Any news on the village Centre Richard.Is there still activity there?

March 24th, 2009, 11:48 AM	#788
Paul Dubai London Join Date: Oct 2008 Posts: 163 Likes (Received): 0	Nakheel needs to sell a substantial part of the Trump Tower in order to build it. Who would pay 9000aedsq/ft now? The rest of the palm would have to rise to 5000sq/ft before people would even think about paying almost double for the Trump Tower. This could take years and years..............

March 24th, 2009, 12:40 PM	#789
Richard Head Registered User Join Date: May 2005 Posts: 1,036 Likes (Received): 0	Why would they need to sell at 9000, if dbxdude paid under 6000 at launch, and construction costs have dropped significantly since then. They could probably sell now at 4000 - 5000 comfortably. Shorelines with the best sea views still appear to be worth 1700 - 2000, Trump is in an entirely different league altogether. So if we are at or near the bottom I really don't see why this can't be relaunched in 12 - 18 months when confidence is back. With the flippers all buried this will sell to high net worth individuals, so lack of credit is not likely a major issue.

March 24th, 2009, 09:11 PM	#790
Paul Dubai London Join Date: Oct 2008 Posts: 163 Likes (Received): 0	Nothing was sold here at less than 8000psf....... I paid more for a high floor burj view unit.

March 24th, 2009, 09:42 PM	#791
dbxdude Registered User Join Date: Sep 2008 Posts: 568 Likes (Received): 0	error in my maths. i bought at 6900 psf. Same error may have led to some other investment Mistakes! I tried like hell to sell at 9000 but those buggers put in a 1 year condition.... dam... that cost me a nice sunseeker...albeit a small one Paul, unless something happens and this market picks up will you still be able to replace your lambo with the 09 model?... Times r tough enough! P.S you cannot get a credit note, but if u have another unfinnished property with nakheel u can transfer the amount to that or find someone who needs it and sell it to them. i think credit is trading 10% of OP. Its a total pain the the butt... but what to do.

March 31st, 2009, 04:33 PM	#793
impact26 Registered User Join Date: Feb 2009 Posts: 22 Likes (Received): 0	Well Nakheel is allowing to transfer funds from Trump to any other project. that simply means they are not going to built it ever or will resell it at different price. i dont think people cancelling trump now will be again buying it for LONG LONG TIME. BTW pm me if some1 wants to know how to get the funds transfered from it.

April 27th, 2009, 02:15 PM	#794
Paul Dubai London Join Date: Oct 2008 Posts: 163 Likes (Received): 0	Has anyone got anywhere with refunds or credit notes with Nakheel?

May 30th, 2009, 11:12 PM	#795
Dubai_Steve Dubai State of Mind Join Date: Jan 2005 Posts: 8,701 Likes (Received): 38	Work on iconic Trump Tower in Dubai halted indefinitely and site levelled It was to be one of Dubai's flashiest developments and success was assured by the Trump name. But now the Trump International Hotel and Tower site has been levelled and what was to be the centre piece of developer Nakheel's prestigious Palm Jumeirah project will fall quiet. Nakheel, which was developing the project, first called a halt at the end of last year and a statement said that they project was delayed. Now it has been suspended indefinately. The Al Habtoor Leighton Group confirmed that it is finishing levelling work and it will leave the site next month. A spokesman admitted that they have no idea when work might re-start but the site is ready for a possible resumption in the future. 'Initially they (Nakheel) thought it would be six to 12 months, but the honest answer's going to depend on what happens in the market. It's a high-end product, so it's got quite an unusual market,' said David Savage, the managing director of Al Habtoor Leighton Group. 'We're finishing off the ground levelling and will be leaving the site in the next month. Nakheel stopped the contract but we kept working with them to get the site closed up,' he added. Trump Tower was to be the first in the region for global property entrepreneur Donald Trump. He even attended a lavish even in New York to launch the project. Nakheel has delayed work on most of its high-profile projects, including Palm Deira, The Universe and Nakheel Harbour and Tower. Many of Dubai's iconic construction projects are either cancelled or on hold as the global property crisis hits the region hard. http://www.propertywire.com/news/mid...905303153.html

June 26th, 2009, 06:58 PM	#796
PaulDubai Registered User Join Date: Oct 2005 Posts: 770 Likes (Received): 0	Now that the Trump Tower is cancelled has anyone got their money back from Nakheel?

June 28th, 2009, 12:40 PM	#799
mrobbie Registered User Join Date: Oct 2007 Posts: 185 Likes (Received): 0	I'm fully with you on that part, however IMHO Nakheel will never (in the near future) admit to it being cancelled.... From what I read, its suspended/on-hold and therefore no refunds applicable. At the current time, even if it was cancelled, I reckon the most you would get would be a credit note to spend on another Nakheel development.