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Old September 10th, 2012, 01:55 PM   #1001
ZZ-II
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Quote:
Originally Posted by patrykus
What does it mean it "failed"?
At least it doesn't sound good
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Old September 10th, 2012, 02:54 PM   #1002
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Quote:
Originally Posted by patrykus View Post
What does it mean it "failed"?
Quote:
Originally Posted by ZZ-II View Post
At least it doesn't sound good


Today conference is for "increased dreamhub's capital stock to 3 billion U.S. dollars"

But Lotte tour company rejected suggestion for incresed. So dreamhub can not increased capital stock.

At the very moment dreamhub's capital stock 1.5 billion U.S. dollars. This is very small money for the whole project cost about 31 billion.
So today the board of director is increased dreamhub's capital stock for the method of "STABLE project"


In summary
-Korail suggested for increased capital 3 billion.
-But Lotte tour company rejected(lotte did not want to "reduced their voice right in the project."
-Therefor dreamhub give up increased capital. Instead will be issued 190 million Creadical bank money.
-Also there is no plan changed compensation for citizens.

This project consist with KORAIL(25.0%), LOTTE(15.1%), KB BANK(10.0%), PURUDENCIAL(7.7%), SAMSUNG(6.4%).

Franckly speaking now i'm very stressful with this project. It is like a roller coaster.
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Old September 10th, 2012, 03:08 PM   #1003
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this is how seoul lite started to go down...
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Old September 10th, 2012, 04:42 PM   #1004
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Originally Posted by KillerZavatar View Post
this is how seoul lite started to go down...
Correctly. Seoul lite also cancelled same way with YBID.
Seoullite also fight each other in developer(the board of director). So...................

But onething is different.... YBID's land owner is KORAIL who participate in project as developer.
(As you know Seoullite's land owner is Seoul goverment. owner and developer different)
Therefore at least it is guarantee that landmark will be rised(just my opinions)

YBID have 3 big problems
1. Some citizen request much more Compensation money.(Legally dreamhub can demolished ugly apartment RIGHT NOW. Becaused project already fulfiilled legal requirement. However they didn't )
2. Next years "sale whloe apartment and commercial units to estate market"
Nobody can sure ...who will buy 735㎡ penthouse. In the middle of the world financial crisis. Also in seoul?
3. Seoul mayor's permission.(ANTI develompent policy)
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Old September 10th, 2012, 05:00 PM   #1005
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so it seems more likely that the designs are cancelled or reduced in height than a whole cancellation of the project? i just hope this will not drag on for years
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Old September 10th, 2012, 06:23 PM   #1006
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so it seems more likely that the designs are cancelled or reduced in height than a whole cancellation of the project? i just hope this will not drag on for years
Right.
If a whole canellation of the project, then unimaginable catastrophe impact on korea economy. Because KORAIL is public company.

Too far to cancellation. I also worry about to delay project or stalled for a years or long times....
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Old September 10th, 2012, 07:06 PM   #1007
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so this bad news are about the whole project or just the main tower?
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Old September 10th, 2012, 07:30 PM   #1008
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Quote:
Originally Posted by KillerZavatar View Post
so this bad news are about the whole project or just the main tower?
Right. the whole project .

As you know this project going as one units. So We can not divided main tower with others building(The cloud, Diagnoal tower, The boutique towers, Blade tower et cetera)

Hyundai tower and seoullite official stalled or cancelled. Only TWO remains which are lotte tower and this one.
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Old September 10th, 2012, 08:25 PM   #1009
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yes seeing this on the edge makes me nervous, it is so many other tall towers inside this development which are on the edge too, basically the whole new skyline that is supposed to form.
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Old September 10th, 2012, 08:41 PM   #1010
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Quote:
Originally Posted by KillerZavatar View Post
yes seeing this on the edge makes me nervous, it is so many other tall towers inside this development which are on the edge too, basically the whole new skyline that is supposed to form.
I'm agree with you
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Old September 10th, 2012, 08:47 PM   #1011
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Really was expecting some solid news, looks like it is still clouded.
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Old September 10th, 2012, 09:11 PM   #1012
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oh dear, i really hope this won't be cancelled...it's one of the best projects on earth at the moment.
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Old September 10th, 2012, 09:44 PM   #1013
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all we can do is wait and see .
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Old September 10th, 2012, 09:54 PM   #1014
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Quote:
Originally Posted by dunefreezer View Post
Really was expecting some solid news, looks like it is still clouded.

Yeap.
Actually i'm daily check this project news. I'm hope to inform everyone with good and solid news.

Quote:
Originally Posted by ZZ-II View Post
oh dear, i really hope this won't be cancelled...it's one of the best projects on earth at the moment.

You are right. As you know Now a Whole world under a financial crisis.. Therefore it is hard to expect something new huge project....

I also can not imagine this project to cancelled.
I'm really glad for you and i shared same hope.

Quote:
Originally Posted by the sock View Post
all we can do is wait and see .

Right wait...like a ride on roller coaster for me
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Old September 10th, 2012, 09:58 PM   #1015
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let's hope for the best and ignore the fact that this is seoul, the city where a lot of nice projects drown and instead think about the lotte tower as a beacon of hope that even after years of losing hope something wonderful can happen
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Old September 16th, 2012, 09:53 PM   #1016
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Today emergency "the board of dirctors" is going to held in dreamhub office.
This meeting demanded by "KORAIL".
KORAIL want to "kick out" Lotte company from Yongsan IBD project.
As you know Lotte is Second largest company who have stake in IBD project.
(First company is KORAIL)
KORAIL complains about Lotte's independent action.

I think today meeting is revenge actions with last failed items which meeting KORAIL suggestion for "increased dreamhub's capital stock to 3 billion" but rejected by Lotte last at 10. September.

Let's see what result will be come out from today meeting.
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Old September 16th, 2012, 10:40 PM   #1017
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i hope this doesn't get canceled.
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Old September 17th, 2012, 12:18 AM   #1018
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Two companies struggling for control of a project isn't a good thing, though that alone doesn't mean it won't be built. Take the WTC for example, there have been many delays but at the end, it will be built
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Old September 17th, 2012, 01:40 AM   #1019
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Ugh, duopoly battle. Brace yourself, we're gonna have to watch this for a while. It never ends fast.
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Old September 17th, 2012, 12:51 PM   #1020
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Korea has historically had problems getting supertall projects off the ground. Sadly I think this case is no different.
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