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Old June 7th, 2011, 02:38 AM   #141
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Falconcity: Dubai's best-kept secret?

With the community evolving, residents are willing to overlook teething troubles in return for value-for-money deals.

By Deepthi Nair, Property magazine | Published: 00:00 June 1, 2011


Falconcity residents feel it scores on areas of safety and security. Residents and visitors use the temporary entrance from Emirates Road. Image Credit: Kishore Kumar/ANM


Falconcity villas have a good built-up area, but small plot sizes. Children play in green patches in the absence of play areas. Image Credit: Kishore Kumar/ANM

Quote:
Falconcity, anyone? Tucked away on Dubai's Emirates Road, this gated community of town houses and villas has been steadily attracting both rental and sales interest. And it's not simply because it proposes to offer life-size replicas of the seven wonders of the world, but because its enormous villas are pegged at unbelievably attractive prices.

Falconcity of Wonders, as it is widely known, has another factor driving up occupancy levels: its proximity to prominent educational institutions. This makes this development very popular among families. There is Jumeirah English Speaking School in Arabian Ranches, Repton School and Dubai Modern High School in Nad Al Sheba, and Dubai English Speaking College at Academic City only a few minutes away by car.

The school factor pulls in families

"A lot of kids in Falconcity are Reptonians. This has influenced several families to move to Falconcity from Jumeirah Islands, The Meadows and the Palm Jumeirah," says Raj (prefers to use only first name), director, Top Class Real Estate. The impending opening of a GEMS school in adjacent Silicon Oasis is likely to further enhance the appeal of this community.

With 320 villas handed over in phase one, there are a number of unit specifications prospective tenants and buyers can choose from — two-bedroom town houses going all the way up to five-bedroom detached villas (see table for details).

Small plot sizes

"The four-bedroom town houses are the most popular because of their sheer size. There is also a demand among end-users for large detached villas. Those who purchased in Falconcity were mostly investors from Iran, UK, India and Pakistan," Raj explains. While the built-up area of villas has earned praise, the homes have come under scrutiny for their small plot sizes.

Meanwhile, robust occupancy levels have helped to foster camaraderie among the residents; a few women have taken the initiative to launch a community portal for Falconcity residents.

Good communal spirit

Louise Grenville, a Falconcity resident says, "There is a good vibe. We have been to two parties in Falconcity and met lots of neighbours. I've befriended an Afghan family next door and have Indian friends down the road. Our German neighbours often wish us ‘guten morgen'. It's not a typical expat community but with a little effort, my experience is that everyone wants to be friends, regardless of where they come from."

At the same time, some residents feel Falconcity exudes a sense of isolation because of its location. Sanjay Keswani, one of the first few residents to move into the community, says, "It is definitely secluded because it's 20km away from the city centre. However, we really don't feel it once we are inside this residential community because it is almost fully occupied."

Not in the middle of nowhere

On the other hand, there are others who insist that the development is not as cut off as people perceive it to be. Good access to both Emirates Road and Al Ain Road brings all major destinations — the Dubai International Airport, Downtown Dubai, Jebel Ali and Sharjah — within a 15-minute radius, they claim.

"Mirdif City Centre can be reached in 15 minutes. I can drive down Al Ain Road and be in Wafi [Mall] in 15 minutes too. It's actually a great location if you don't mind driving," says Louise.

However, the main approach road from Emirates Road is yet to open to the public and residents currently use the temporary entry gate. Also, with the absence of street signage, it's a tad difficult for visitors to locate the villas.

Retail not accounted for

As is typical of a new neighbourhood, Falconcity has its fair share of teething problems. The developer, Salem Al Moosa Enterprise, is yet to make provisions for retail in the community. As a result, residents drive to Le Marche Supermarket in Arabian Ranches, Spinneys in MotorCity, Carrefour in Mirdif City Centre or the new Spinneys in Cedre Villas, Silicon Oasis to shop for essentials. Mobile supermarket operator Early Bird also delivers supplies in Falconcity between 8am and 9pm on Wednesdays.

Community too small to sustain retail?

"A small grocery outlet would be very useful and is probably the number one facility most residents would like to see here soon," says Louise.

However, an argument is gaining ground that 320 villas would not generate sufficient business to sustain a well-entrenched supermarket brand in Falconcity. Raj, who's also a Falconcity resident says, "The developer doesn't want to go in for a basic brand and change it later. The community is currently too small to sustain a supermarket. It's a necessity, but it's not feasible as yet."

The same logic is also being applied to justify the absence of a community centre. While online community discussion forums look at the possibility of the show villa being converted into a community centre featuring a swimming pool and a gym, this is not likely to happen under current rules. "As per the municipality regulations, you cannot convert a show home into a community centre. The size of the pool in the show villa is not sufficient for the general public," clarifies Raj. He insists a separate community centre will be built once the infrastructure work on phase two is complete.

Children's play areas not built yet

Another pet peeve of Falconcity residents is the absence of children's play areas. As a result, children and their nannies have to make do with the sundry green patches dotting the project. Louise says, "There are certainly a lot of children here, as evidenced by the number we see riding bikes, playing football and roller-blading in the quiet streets. Some of the communal areas have been set aside for children's playgrounds but sadly have not yet been built."

The community, however, scores on areas of safety and security. Speed bumps on the roads ensure disciplined driving. With families moving in, gates that were earlier open to construction workers have now been closed and there is round-the-clock security to man the gates. "The only access to Falconcity for visitors is through the security guards," says Raj.

The absence of public transport is a matter of concern. Louise says, "Cabs, however, now know where we are, so they come as quickly as anywhere else. Hailing one on Emirates Road is not advisable though."

Residents complain about the lack of a permanent mosque as well as medical services within the community. Al Wasl Hospital, American Hospital and clinics in Silicon Oasis and Arabian Ranches are the closest.

Noise of trucks from Emirates Road

Villas facing Emirates Road are bound to be affected by the noise of the truck traffic whereas those far inside the compound have no such problem. "It's very nice and peaceful here," says Louise describing her home. The land gap between Falconcity villas and Emirates Road also helps to cut out noise to a certain extent. "Our windows are air-tight and the soundproofing is good," Raj adds. Both villas and town houses come with a double garage and three free parking spaces outside for visitors.

While the current average sales price in Falconcity is Dh625 per square foot, it could vary depending on the villa location. Units located next to the entrance gate and facing the upcoming lake would fetch a premium. While the service charge specified in the Falconcity sales contract is Dh600 per month, the developer is yet to start levying it owing to the undelivered communal facilities. The development is not serviced by district cooling; instead, all villas run on split air conditioners.

"The quality of maintenance is above average. The community is kept very clean and is still under warranty," says Sanjay. Concurring with him, Louise adds, "The maintenance team comes quickly, often within minutes. Admittedly, we do have to call them very often but that is to be expected during the first year of residence in any new villa, to iron out problems."

A few eateries that cater to Falconcity households include Le Succes French Bakery & Pastries in Uptown MotorCity, Brit Balti at International City and Lucky's Pizza in MotorCity.

320 villas have been handed over in phase one of the Falconcity development. Image Credit: Kishore Kumar/ANM

http://gulfnews.com/business/propert...ecret-1.811596
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Old June 19th, 2011, 07:02 PM   #142
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Dh100m from Skycourts handover

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By Parag Deulgaonkar | Published Sunday, June 19, 2011

National Bonds Corporation (NBC), the Shariah-compliant savings scheme,expects to collect nearly Dh100 million in the next eight weeks as apartment owners in Skycourts, a residential project, start taking possession of their units, company CEO told Emirates24|7.

“About Dh100 million is going to be collected from Skycourts customers over the next eight weeks as per the original payment plan schedule.

Looking at the payment inflows being received from the customers taking possession of their units, we are comfortable that this target will be achieved successfully,” Mohammed Qasim Al Ali, Chief Executive Officer, NBC, said.

The Dh1.6 billion Skycourts development, which has over 2,800 apartments across six towers in Dubailand, is the only real estate project developed by the company.

In October 2010, Al Ali told this website that NBC was keeping away from investing in the real estate sector.

Al Ali claimed that none of the customers had defaulted, while Amlak Finance and Dubai Bank, end-user finance companies, were continuing to fulfil their commitments.

“To date, we do not have any confirmed defaulted customers, Both Amlak Finance and Dubai Bank are one of the end user finance sources. Until now, mortgage payments from these two entities are regular and we haven’t seen anything that contradicts this commitment. “

The company has already collected 75 per cent of dues from most of the customers as per the payment plan before the project’s handover.

“… we do not expect to have any difficulties in collecting the remaining due amounts,” he added.

NBC, which still owns a few units in Skycourts, expects to generate a “reasonable” rental returns.

According to property listing websites, studio apartments in the project are currently being leased from Dh22,000 per year onwards, while one beds start from Dh34,000 .

In March, the Investment Corporation of Dubai acquired the remaining 50 per cent stake in NBC from Emaar Properties, Dubai Holding and Dubai Bank, giving it full ownership of the company.
http://www.emirates247.com/business/...06-19-1.403330
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Old June 22nd, 2011, 01:05 AM   #143
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Amlak takes legal action against 'few' defaulters

Company says it work patiently with customers; investors said undated cheques were bounced and presented to police

By Parag Deulgaonkar | Published Tuesday, June 21, 2011


Amlak waives off charges to spur partial loan settlement. (EB FILE)

Quote:
Amlak Finance, a Dubai-based Islamic mortgage company, has confirmed it has taken legal action against some investors who'd refused to take possession of their apartments and had breached their contractual obligation, Emirates 24|7 can reveal.

"Amlak Finance has and continues to exert all goodwill measures and case by case incentives to ensure the smooth conduct of our customers' financing obligations," the company said in an emailed statement.

"Unfortunately, legal action was taken against very few customers who have refused to take possession of their properties, in breach of their contractual obligations, and whose cheques have bounced due to insufficient funds, even though we have worked diligently and patiently with such customers to manage their cases to the best of our ability," it added.

The company's response came after a few investors claimed the mortgage company had presented their cheques since they had refused to take handover of their units.

An investor, who has been financed by Amlak in Skycourts project, said on conditions of anonymity: "I had met Amlak officials and had given them the reasons why I was not eager to take handover of my unit. I had told them I would not be paying any money to them.

"The company presented my cheque, which bounced due to insufficient funds. The following day, I received a call from the police, who asked me to come with my passport to the police station. I was left with no other option, but to pay and take possession of my unit."

Last month, this website reported Amlak had informed its Skycourts clients that it is exploring legal options against defaulters and did not rule out presenting security cheques of buyers refusing unit handovers.

"In the event of your failure to fulfil the above requirement, Amlak Finance shall exercise its rights under the relevant finance document and shall also be entitled to explore all available legal options, including but not limited to damages suffered by Amlak as a consequence of the breach and presentation of your security cheque/s, which may result in adverse legal consequences for you," the company said in a final reminder sent to an investor on April 17.
http://www.emirates247.com/business/...06-21-1.403735
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Old June 26th, 2011, 07:44 PM   #144
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Originally Posted by nazrey View Post
image hosted on flickr
The rugby stadium looks soooo much to Portugal's Estadio Algarve in Faro!
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Old June 26th, 2011, 09:48 PM   #145
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And the one behind that one is just slightly different from Docklands (aka Etihad) Stadium in Melbourne
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Old June 27th, 2011, 04:27 AM   #146
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More empty buildings?
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Old June 27th, 2011, 11:35 AM   #147
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Quote:
Originally Posted by Andre_idol View Post
And the one behind that one is just slightly different from Docklands (aka Etihad) Stadium in Melbourne
Quote:
Originally Posted by makkillottu View Post
The rugby stadium looks soooo much to Portugal's Estadio Algarve in Faro!
Only the 4 stadiums in the top right hand corner of the picture will be/ has been built.
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Old July 2nd, 2011, 02:49 AM   #148
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Downsized Dubailand development sparks fury

Kevin Brass | July 1, 2011


The Remraam apartment project, which is surrounded by empty desert. Jaime Puebla / The National

Quote:
Angry buyers in one of the largest apartment projects in Dubailand are demanding refunds and threatening to sue, claiming the project about to be delivered is nothing like the oasis they were promised.

Promotional materials for Remraam touted extensive landscaping, large swimming pools, community centres, shopping malls and proximity to Dubailand's proposed amusement parks. Eighty-three per cent of the grounds would be covered by greenery, the ads said.

But as the developer Mizin, a subsidiary of Dubai Properties Group (DPG), prepares to begin handing over the first of 3,000 apartments in the next few weeks, none of those elements have been built. There is no landscaping or recreational facilities, and the project is surrounded by empty desert for kilometres in every direction.

"It's not habitable, and it won't be for some time," said Amit Gupta, a banker who paid a deposit in 2008 on a Dh1.2 million (US$327,000) two-bedroom apartment in the first phase. "That is not what we paid for."

The developer insists Remraam, named after a plant that grows naturally in the UAE, will eventually live up to the glossy brochures distributed during the height of Dubai's property boom. Landscaping and the other amenities are still in the plans, a spokesman said.

"DPG is committed to this project, which will be delivered in accordance to initial expectations," said a DPG spokesman. "However, a community takes time to mature."

Remraam includes 56 buildings, ranging from five to seven storeys. Original plans called for about 200 residential buildings, part of Dubailand's network of projects surrounding amusement parks and the Mall of Arabia, designed to be the world's largest shopping mall.

Most of the projects around Remraam, including the Mall of Arabia, the $1.1 billion Tiger Woods Dubai residential development and the amusement parks, were put on hold after the global financial crisis.

Remraam was downsized and construction delayed on many of the buildings. Buyers of units that have stalled have been offered ones in buildings closer to completion.

"Mizin only delayed buildings due to non-payment from customers," the DPG spokesman said. "All customers who fulfilled their contractual payment obligations received the units they booked or alternatives as agreed mutually."

But Rizwan Butt said he stopped making payments when it became clear no construction was taking place on his building.

"They want the rest of the payments, but I don't see a single brick," said Mr Butt, who made a down payment on a Dh1.7m three-bedroom apartment in 2008.

"Why should I pay?" he said. "What they have promised is completely not what is getting delivered."

Some buyers said they would demand refunds if their apartments were not delivered by the end of last month, as stated in their contracts.

"I'm happy to lose my 5 per cent [deposit]," said one buyer, who asked not to be named. "I'd rather that than be in a project in the middle of the desert."
http://www.thenational.ae/business/p...nt-sparks-fury
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Old July 22nd, 2011, 01:44 AM   #149
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Dubai’s Fontana di Trevi development offers significant discounts

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Written by: A Place in the Sun Thursday, July 21, 2011

Overseas property investors looking to purchase in Dubai may wish might want to consider the La Fontana di Trevi development, which is currently offering significant discounts.

To celebrate the launch of the project situated in Arjan, several plots are being sold at half their original price, for example, a studio is on the market at Dhs. 199,000 and a one-bedroom for Dhs. 399,000. A 2-bedroom, which had a price tag in excess of Dhs.1.2 million when the project was launched in 2008, can be purchased for only Dhs. 599,00.

Mr. Ashok J. Galgotia, the CEO of Triveni Builders and Promoters Ltd said: “La Fontana di Trevi is a significant development for the middle-income segment. Investors and other buyers have responded positively to our special offer, and are excited by the prospect of taking possession of ready apartments at such low prices.”

The company’s decision to slash prices seems to be as a result of development work in the area grinding to a standstill. The Italian company’s investment is one of the few in the surrounding area that has been completed, and Mr Galgatia stated that the company will be using the money generated by the quick sale of these units to issue final payments to contractors.

La Fontana di Trevi, which is named after the legendary world famous fountain in Rome comprises 122 contemporary residential apartments.
http://www.aplaceinthesun.com/news/f...discounts.aspx
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Old December 27th, 2011, 06:30 AM   #150
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Imdaad secures two-year sports-venue FM contract

[IMG]http://i44.************/jt9jiv.jpg[/IMG]
Imdaad has won a FM contract for the Hamdan Bin Mohammed Bin Rashid Sports Complex in Dubai.

Quote:
by CW Staff on Dec 26, 2011

Imdaad has secured a two-year contract for the provision of FM services to the Hamdan Bin Mohammed Bin Rashid Sports Complex.

The contract will see Imdaad provide facility operation, and facility preventive and corrective maintenance. The agreement covers MEP equipment/systems, A/C system, civil works, IT works, soft and hard landscaping and streetlighting.
http://www.constructionweekonline.co...e-fm-contract/
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Old January 2nd, 2012, 12:10 AM   #151
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La Fontana in Dubai is finally done

Quote:
Kevin Brass | Jan 2, 2012


The La Fontana project in Arjan in Dubai. Satish Kumar / The National

After a lengthy dispute over electrical hook-ups, the first project is ready for handover in Arjan, the Dh20 billion (US$5.44bn) development planned to include Dubai's version of the London Eye.

Construction on La Fontana di Trevi, an Dh80 million residential development with 122 apartments, was started in 2008.
http://www.thenational.ae/thenationa...s-finally-done
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Old January 8th, 2012, 11:51 PM   #152
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Designs for scrapped Dubailand Ferris wheel revealed


Dubailand, the stalled real estate and tourism resort, has ditched plans to build a 185m Ferris wheel set to rival
the London Eye in the latest setback to the troubled multibillion-dollar project



The Great Dubai Wheel, an AED250m ($68m) observation wheel, was set to be a leading tourist attraction within
Dubailand’s Arjan development, but was scrapped amid a wider revamp of the project



'Originally the brochure said it was included,’ said Ashok Galgotia, CEO of Triveni Builders and Promoters, the
subcontractors that last week handed over the first units at Arjan’



‘But we were told [the Great Dubai Wheel] would not be coming and it would be something else. They are
negotiating [to find a replacement] attraction’



Dubailand was one of the Gulf emirate’s most ambitious developments, announced at the height of the real
estate bubble


http://www.arabianbusiness.com/photo...035.html?img=0
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Old January 9th, 2012, 02:47 AM   #153
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Dubai's answer to London Eye scrapped

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Jan 8, 2012

Dubailand, the stalled real estate and tourism resort, has ditched plans to build a 185m Ferris wheel set to rival the London Eye in the latest setback to the troubled multibillion-dollar project.

The Great Dubai Wheel, an AED250m ($68m) observation wheel, was set to be a leading tourist attraction within Dubailand’s Arjan development, but was scrapped amid a wider revamp of the project.
http://www.hoteliermiddleeast.com/13...-eye-scrapped/
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Old January 13th, 2012, 12:44 AM   #154
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Firm mulls legal action over Dubailand power woes

Quote:
by CW Staff on Jan 12, 2012

A Dubailand contractor is mulling legal action against the resort’s developer in a bid to recoup some AED12.4m ($3m) in losses he claims to have incurred after power delays to the project.

Triveni Builders and Promoters, the firm behind the La Fontana di Trevi project in the AED20bn Arjun development, said a row over the site’s electricity connection had pushed back handover of the property and forced the company to breach its contract with investors.

“We are thinking about arbitration, but we have not started yet. We are negotiating with [developer Dubai Properties Group] for at least part of our losses,” said CEO Ashok Galgotia.

Triveni began work on the AED80m residential development in 2008, but construction stalled after a planned electrical substation on the site was never built, leaving it without power.
http://www.constructionweekonline.co...nd-power-woes/
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Old January 13th, 2012, 01:01 AM   #155
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I don't mean to be a pessimist, but I foresee a very rough future for Dubai. It's overbuilding worse than I've seen overbuilding in my lifetime. Dubai is akin to developing a city the size of Houston in the middle of Siberia. There's no demand for office space in the area, yet they exploit their resources to try to create some false mirage. I mean look, they're even building skyscrapers at an amusement park! Dubai is destined for failure if it keeps building without demand. The stuff they've built is going to cost a lot to maintain, and they seem to forget that. When the oil money goes away, so will the city I think. Obviously not all the way, but Dubai's future looks like that of Detroit's. Remember, at one time Detroit was a thriving city, it took little for it to fall. It'll take even less for Dubai.
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Old January 15th, 2012, 02:01 PM   #156
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This whole "Dubai Land" looks like epic failure to me. I am not a an envious anti Dubai guy, a lot of the developments along where you have the metro line now, ore somewhat close by or at the coast could possibly work out but they overdid everything with "Dubai Land". You can't bloat up everything limitless. At some point everything is so big and far apart that its starting to be a pain in the *ss for everyone involved.
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Old January 15th, 2012, 06:00 PM   #157
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Dubai records land transactions worth Dh143b

Dubai Land Department has recorded 35,297 transactions worth Dh143 billion last year, a 20 per cent increase in value over 2010 records, a statement said.

The transactions include sales, mortgages, ijarah, mortgage portfolios, deferred sales and other transactions.


Last year has seen an 12 per cent increase in mortgages compared to the value recorded in 2010. The mortgages represent 60 per cent of the total transactions conducted in 2011, this indicates the recovery of the property financing and the return of healthy activities. Article continues below
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Old January 16th, 2012, 01:08 AM   #158
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Quote:
Originally Posted by royal rose1 View Post
I don't mean to be a pessimist, but I foresee a very rough future for Dubai. It's overbuilding worse than I've seen overbuilding in my lifetime. Dubai is akin to developing a city the size of Houston in the middle of Siberia. There's no demand for office space in the area, yet they exploit their resources to try to create some false mirage. I mean look, they're even building skyscrapers at an amusement park! Dubai is destined for failure if it keeps building without demand. The stuff they've built is going to cost a lot to maintain, and they seem to forget that. When the oil money goes away, so will the city I think. Obviously not all the way, but Dubai's future looks like that of Detroit's. Remember, at one time Detroit was a thriving city, it took little for it to fall. It'll take even less for Dubai.
I think for a part that it justs needs more time to develop in a more natural way. Which could take decades of course. I'm sure it can become a great city! But indeed, they need to get rid of projects like this and focus more on filling the gaps in already build area's with smaller buildings, shops, parks, public spaces etc.
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Old January 29th, 2012, 12:20 AM   #159
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Remraam investors petition Dubai Ruler's Court

Quote:
by CW Staff on Jan 24, 2012

Investors in Dubai’s Remraam Community have petitioned the emirate’s ruler to intervene in a dispute with the project’s developer after they were told they risked fines if they failed to accept the handover of properties in the unfinished complex.
http://www.constructionweekonline.co...-rulers-court/
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Old February 18th, 2012, 02:32 AM   #160
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Al Barari scores high on green scale

Quote:
Region's largest private sector plant nursery a major highlight of project

By Manoj Nair, Associate Editor | Published: 00:00 February 17, 2012


Besides offering landscaping services in Al Barari, Greenworks will also seed the local market with green products and services, as it plans to house 1,800 plant varieties. Mohammad Zaal.
Image Credit: Courtesy: Al Barari


Dubai: Now that the bricks and mortar are in place, the developer of the upscale Al Barari residential community is turning its attention to adding to its greening.

"We are now in the preparation stages of Phase 2 which will see the completion of the botanical gardens," said CEO Mohammad Zaal. "The fact that 80 per cent of Al Barari is made up of green space is what makes it the lowest-density development in the UAE."
http://gulfnews.com/business/propert...scale-1.981952
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