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Old November 22nd, 2010, 07:52 PM   #381
PrincessTower
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concrete pouring continued today. right now they're working on more columns going into the ground, starting in the right hand side corner and travelling south.

The site has been quite busy all day long. Welders have prepared more steel grids going into the holes. Looks cool at night.

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just minuts ago more concrete has arrived.
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Old November 22nd, 2010, 09:45 PM   #382
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Thank you for the update
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Old November 22nd, 2010, 11:17 PM   #383
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Insane that they're moving on with this project. I mean, it's cool, don't get me wrong but economically it seems retarded.
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Old November 23rd, 2010, 04:38 AM   #384
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how is it insane? its not like they have much work going on, i doubt the the work will even show until another 6 months, but hopefully the pace will speed up?
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Old November 23rd, 2010, 01:13 PM   #385
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Quote:
Originally Posted by Ni3lS View Post
Insane that they're moving on with this project. I mean, it's cool, don't get me wrong but economically it seems retarded.
Many agents have used the term 'flagship' freely (and sometimes incorrectly) to describe an impressive building for marketing purposes. They often use 'flagship' to describe several different buildings by the same developer, which by definition there can't be more than one.

BUT DH will be Damac's flagship building in Dubai. And in that regard, seeing this tower finally start to rise in a few years (let's be realistic) should be a good marketing 'tool' for attracting investment in the whole company and also other projects of theirs.

Originally, anticipated completion date (as in my SPA) was set for 2011, and reasons for delay were calculated.

Ok, the decision to now start making some real progress assumes that the real estate market will have improved by 2016, when this building may theoretically getting close to completion.

As a DH investor, clearly I have an interest, but from a long term business strategy / perspective for them to delay further and NOT to finally start making some real progress soon may be a gamble they also can't afford to take....
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Old November 30th, 2010, 10:56 AM   #386
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http://www.arabianbusiness.com/what-...ml?tab=Article

DUBAI'S RERA: Next week Arabian Business will be interviewing Marwan Bin Ghalaita, CEO of RERA

This week Arabian Business will be interviewing Marwan Bin Ghalaita. He is CEO of RERA, the body that regulates the would-be jungle that is the Dubai real estate market. The world knows his job cannot be an easy one.

During the boom, Bin Ghalaita must have spent his days undertaking the Sisyphean challenge of trying to spot the cowboys in the stampede, and now it would be easy to believe his working hours are spent head in hands, trying to address a variety of nightmarish, multi-million dollar versions of the chicken and egg conundrum — did the developer go bust because the investors went bust, or the other way around? — while trying to keep everyone happy.

Pre-summer 2007, a lot of people got very rich very quickly by dabbling in the property market in Dubai. But since then, since the party stopped, a lot of people have become very poor very quickly. For hundreds of thousands of people, the fallout is still being felt. As RERA decides how best to move the market forward and restore confidence, everyone has a view on how the future will play out. Bin Ghalaita’s statements though, should hold more credibility than anyone else’s — the emirate’s ruler excepted. After all, he more than anyone should know the true condition of the market, and what measures the state will or won’t take to further stimulate it. Smart investors and developers have long hung on his every word, and with good reason.

Bin Ghalaita, who in my experience is a charming and courteous man, does not often give interviews. I would, then, like to give readers of Arabian Business the opportunity to submit questions beneath this column — or by email to me — that they would like him to answer.

Perhaps you would like to know how you, as an investor, are protected by the law against a developer that is not delivering on promises. Perhaps you would like to know the status of a project in which you have invested. Or perhaps you would like to know what the likelihood of you receiving your deposit back on a project that doesn’t look like it will ever be completed is.

Whatever your question, please make sure we receive it before Tuesday next week, and I will try my hardest to make sure as many as possible are put to Bin Ghalaita. He has long made clear he is an advocate of transparency — and I am sure he will welcome the opportunity to respond to the public directly.
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Old November 30th, 2010, 11:30 AM   #387
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Nobody gives a damn about that here.
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Old November 30th, 2010, 11:32 AM   #388
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Quote:
Originally Posted by Ni3lS View Post
Insane that they're moving on with this project. I mean, it's cool, don't get me wrong but economically it seems retarded.
It's a Freehold Residential tower. People have bought apartments there and are paying installments.
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Old December 2nd, 2010, 10:35 PM   #389
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Quote:
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Nobody gives a damn about that here.
Well, to a certain extent, I guess that depends on whether anyone wants to see this transform from a plan (& money making initiative for developers) in to an actual real life building built before 2050, 60.. or not?
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Old December 3rd, 2010, 01:15 PM   #390
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23 November 2010










www.damacproperties.com
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Old December 5th, 2010, 10:51 AM   #391
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Beautiful building!
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Old January 7th, 2011, 05:50 PM   #392
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Very interesting to see up dates. Its will be the 5 hiest building in Dubai?
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Old January 8th, 2011, 01:19 PM   #393
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Let's hope this baby gets off the ground....
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Old January 8th, 2011, 02:29 PM   #394
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October 26th, 2007, 12:20 AM :
Quote:
Originally Posted by helghast View Post
can't wait for this baby to start
November 7th, 2008, 06:30 PM:
Quote:
Originally Posted by ZZ-II View Post
we had to wait a very long time, but finally they start
January 8th, 2011, 01:19 PM:
Quote:
Originally Posted by jhalsey View Post
Let's hope this baby gets off the ground....
Let’s hope we are not still saying similar things in 2015!
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Old January 9th, 2011, 02:37 AM   #395
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..

Last edited by MarkWass; January 9th, 2011 at 02:40 AM. Reason: wrong thread
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Old January 9th, 2011, 09:51 AM   #396
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Hehe poor Mark! (you do have a point.)
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Old January 25th, 2011, 04:30 PM   #397
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http://www.damacproperties.com/plot-...html?p=3&cons=
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Old January 26th, 2011, 05:49 AM   #398
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Another machine! lol it seems like they cant make up there mind if they want to build this thing or not..
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Old January 26th, 2011, 02:04 PM   #399
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What are you talking about? Piling work is clearly on-going.
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Old January 27th, 2011, 01:56 AM   #400
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I'm just very skeptical about this project, there hasn't been enough work going on for me to believed this thing in going to continue, not yet
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