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Old June 17th, 2009, 03:32 AM   #741
Soroban
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Emaar explains its position on agreement with Jeddah Economic Company
2009-06-16 20:54:51
WAM Dubai, 16th June 2009 (WAM) -- Emaar Properties today sent a letter to the Dubai Financial Market clarifying its position on its agreement with Jeddah Economic Company.

The clarification signed by its Chairman Mohammed Alabbar says : ''We refer to your letter dated 15 June 2009 in respect of the aforementioned agreement.

Emaar has entered into an agreement with Kingdom Holding Company (KHC), acting on behalf of the Jeddah Economic Company (the Company) for the development management of a large real estate project in Jeddah, currently planned to include a one kilometre Kingdom Tower (the Tower). The agreement only stipulates providing Emaar resources for the management of the development process relating to the Project and there is no requirement for Emaar to invest in this project.

The consideration received by Emaar is dependent on the resource cost incurred by Emaar and to the total development value for the Tower. Emaar is also entitled to an incentive fees if the project returns are above a specified threshold. As the project is currently at the feasibility and master plan review stage, the level of income currently cannot be envisaged. Such income level will be dependent on the development strategy utilised by the Company in respect of the planned development. We shall provide such information subsequent to finalisation of such strategy by the Company.

The agreement currently signed by Emaar is conditional upon a number of other additional agreements to be finalized between Emaar and the Company. In view of all the required agreements not having been finalised as yet, no announcement was made by Emaar in respect of this agreement. However, KHC announced the transaction on 13th June 2009 without informing Emaar.

We endeavour to comply with all regulatory requirements for a listed entity and therefore would have announced the details subsequent to finalisation of all agreements and terms of the agreements.'' WAM/TF

From: http://www.wam.ae/servlet/Satellite?...=1135099399852

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Old June 17th, 2009, 09:47 AM   #742
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it looks like it will take some years to have all this sort out ..until they reach a proper and feasible design
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Old June 17th, 2009, 04:03 PM   #743
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المملكة القابضة ستضخ 400 مليون دولار في العام الأول
الميمان لـ"العربية" : مدة مشروعي مدينة وبرج المملكة 10 سنوات




دبي – الأسواق.نت

قال العضو التنفيذي للتطوير والإستثمارات الإقليمية في شركة المملكة القابضة طلال الميمان إن شركة "إعمار" ليست مطورا في مشروعي مدينة المملكة وبرج المملكة في جدة إنما توفر خدمات إدارة تطوير المشروع .

وأوضح الميمان في تصريح لقناة "العربية" ضمن برنامج "غداء عمل" اليوم الأربعاء 17-6-2009، إن الشركة وقعت عقد خدمات مع "إعمار" تقوم بموجبه الأخيرة بالإشراف والتنسيق على سلسلة الخدمات التطويرية كاملة ، وقامت بمنحها هذا العقد بناءا على خبراتها وإدارتها مشروعا مماثلا في دبي.

ولفت إلى أن "إعمار" ستقوم بالإستشارات الفنية والتسويق وتقديم المشورة المتعلقة بالبنية التحتية وإدارة المشروع.

وأضاف أن الإستثمار الكلي في المشروع سيكون 100 مليار ريال، وستكون مدته 10 سنوات، على أن تقوم المملكة القابضة بضخ 1.5 مليار ريال (400 مليون دولار) خلال العام الأول من المشروع.

وأشار إلى أن المملكة القابضة تمتلك 40% من شركة جدة الاقتصادية التي تمتلك كامل المشروع، وهناك شريكان هما سمو البخش يمتلك 40% وعبد الرحمن الشربتلي الذي يمتلك 20%.

وأوضح أن "إعمار" ليست مستثمرة في مشروعي مدينة المملكة وبرج المملكة ، مؤكدا أن البيان الذي نشر على موقع السوق السعودي بهذا الخصوص كان يجب أن يكون اكثر وضوحا.

وردا على سؤال لـ"العربية" حول إرتفاع أسعار الأراضي المجاورة لمشروع مدينة المملكة بعد صدور الخبر على موقع البورصة، نفى الميمان هذه الإشاعات، مؤكدا انه لو تم ذلك لقامت الشركة ببيع الأراضي.

ولفت إلى أن المشروع يعد من أرقى المشاريع في العالم ويوفر كافة الخدمات الطبية والسياحية والتعليمية لقاطنيه في المستقبل، كما أنه سيقوم بربط البحر الأحمر بشرم أبحر ما يؤدي إلى التخلص من المشكلة البيئية التي تواجهها المنطقة.

وعن صيغ الإستثمارات في المشروع، قال الميمان إنه عند إكتمال المشروع ستبلغ التكلفة الإجمالية 100 مليار ريال. وأضاف أن الحصول على التمويل سيتم من خلال عدة قنوات منها: إجتذاب رؤوس أموال جديدة وتمويلات المقاولين والإقتراض عبر طريقين : الاقتراض التقليدي أو إصدار الصكوك وهو خيار تدرسه اللجان المالية في الشركة ، هذا إلى جانب المبيعات المسبقة التي ننتظر الإنتهاء من قانون الرهن العقاري للبت فيها.


Google translation


Kingdom Holding, will pump 400 million dollars in the first year
Almiman of the "Arab": a period of two cities and Kingdom Tower 10 years




Dubai - the market. Net

Executive member for development and regional investment in Talal's Kingdom Holding Company Almiman "reconstruction" is not developed in the draft tower and the city of the Kingdom of Saudi Arabia in Jeddah, but it provides management services to develop the project.

The Almiman in a statement to the channel, "Arabic" in the "working lunch" on Wednesday, 17-6-2009, the Company signed a service contract with the "reconstruction" whereby the latter to supervise and coordinate a series of developmental services in full, and the granting of this contract based on their experience and management a similar project in Dubai.

He pointed out that the "reconstruction" will be consulting, marketing and technical advice on infrastructure and project management.

He added that total investment in the project would be 100 billion Saudi riyals, and the duration will be 10 years, the Kingdom Holding to pump 1.5 billion riyals (400 million dollars) during the first year of the project.

He pointed out that the Kingdom Holding Company owns 40% of the Jeddah Economic Corporation, which owns the entire project, and there are partners Albkhc HH owns 40% and the Abdel Rahman Sharbatly, who owns 20%.

He pointed out that the "reconstruction" is not invested in the draft tower and the city of the Kingdom of Saudi Arabia, stressing that the statement posted on the Saudi market in this regard should have been more pronounced.

In response to a question of "Arab" on the high prices of land adjacent to the project after the Saudi city of Khobar on the Stock Exchange, Almiman denied these rumors, saying that if he were to sell the company land.

He pointed out that the project is one of the finest projects in the world and provide all medical services, tourism and education to the residents in the future, and it will link the Red Sea in Sharm El-sailing which would lead to the elimination of the environmental problems facing the region.

Formulas and invest in the project, said Almiman that upon completion of the project cost would total 100 billion riyals. He added that access to funding will be through several channels, including: attracting new capital and borrowing funds and contractors in two ways: the traditional borrowing or the issuance of instruments, an option being studied by the financial company, as well as advance sales, which are waiting for completion of the mortgage law for decision


http://www.alaswaq.net/articles/2009/06/17/24849.html
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Old June 18th, 2009, 08:39 PM   #744
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for what reason has Kingdom Tower rating gone from 4 stars down to 3?
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독일의 막가파 두목이름은? 칼막 휘둘러
일본에서 가장 유명한 구두쇠 수도국장 이름은? 무라까와 쓰지마

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Old June 18th, 2009, 10:12 PM   #745
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does that really matter for you?
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Old June 19th, 2009, 03:30 AM   #746
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Emaar selected for 1 km high Saudi tower
http://www.khl.com/magazines/interna...h-Saudi-tower/
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Old June 19th, 2009, 06:39 AM   #747
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Quote:
Originally Posted by helghast View Post
Emaar selected for 1 km high Saudi tower
http://www.khl.com/magazines/interna...h-Saudi-tower/
Thanks for the non-news. Next time look at the previous posts and you will see this "announcement" is not true.
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Old June 19th, 2009, 07:40 AM   #748
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yeah sorry, i noticed it after i posted it
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"If you put the empire state building on top of the Sears Tower then it's reasonable to say you'll be in the neighbourhood," Mr Baker says.

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Old June 19th, 2009, 03:31 PM   #749
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Apologies accepted Admiral Ozzell
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Old June 19th, 2009, 11:38 PM   #750
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Quote:
Originally Posted by ZZ-II View Post
does that really matter for you?
very much does...
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독일의 막가파 두목이름은? 칼막 휘둘러
일본에서 가장 유명한 구두쇠 수도국장 이름은? 무라까와 쓰지마

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Old June 20th, 2009, 09:10 PM   #751
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you must not have many important things to do in your life...

great tower, I'm really impressed that this is actually going to be built, its an amazing design, really signifies the true rise of the Middle East as an economic powerhouse.
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Old June 20th, 2009, 10:12 PM   #752
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Quote:
Originally Posted by jh1 View Post

The guy in white came out from my dreams...
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Old July 7th, 2009, 07:03 PM   #753
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Une société belge pour construire la plus haute tour du monde?

Le groupe belge de construction Besix a l'intention de briguer le contrat pour la gestion et la construction de la Kingdom Tower en Arabie Saoudite. Si ce gratte-ciel voit effectivement le jour, il s'agira du premier bâtiment de 1.000 mètres de haut au monde. C'est ce qu'écrit De Tijd lundi.

Les plans des Saoudiens sont impressionnants. Ce méga-projet de la Jeddah Kingdom City et de la Kingdom Tower ambitionne de créer 23 millions de mètres carré de commerces, bureaux et habitations, sur un terrain de 530 hectares, tout près de l'aéroport international de Jeddah. Son prix est estimé à 26,6 milliards de dollars. La pièce maîtresse du projet, ce sont les tours de 1.000 mètres de haut, un gratte-ciel en forme d'aiguille.

Besix est l'un des rares groupes de construction actifs sans interruption depuis les années 60 au Moyen-Orient et y jouissant d'une réputation irréprochable. Le groupe belge (détenu à 50% par le groupe égyptien Orascom Construction) peut également présenter les meilleures références: en décembre sera inauguré à Dubaï le Burj Dubaï, le plus haut bâtiment au monde avec ses 818 mètres. (belga)

06/07/09 08h20

link: http://www.7sur7.be/7s7/fr/1536/Econ...om-Tower.dhtml
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Old July 8th, 2009, 02:21 PM   #754
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Scary
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Old July 8th, 2009, 04:09 PM   #755
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Google translation
The Belgian construction group Besix's intention to seek the contract for the management and construction of the Kingdom Tower in Saudi Arabia. If this skyscraper was indeed the day, it will be the first building of 1,000 meters high in the world. This is what De Tijd (Financial newspaper) says on Monday.

Saudi plans are impressive. This mega-project of the Jeddah Kingdom of the City and Kingdom Tower aims to create 23 million square meters of shops, offices and homes, on land of 530 hectares, near the international airport of Jeddah. Its price is estimated at $ 26.6 billion. The centerpiece of the project, the towers 1000 meters high, a skyscraper-shaped needle.

Besix is one of the few construction groups active without interruption for 60 years in the Middle East and enjoys a good reputation. The Belgian group (50% owned by the Egyptian group Orascom Construction) may also present the best references in December will be inaugurated in Dubai the Burj Dubai, the tallest building in the world with its 818 meters. (belga)
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Old July 8th, 2009, 09:52 PM   #756
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is it saying that and hiding the word (at least) 1000m? or that it will be 1000m exact? Obviously I think its at least 1000m.
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독일의 막가파 두목이름은? 칼막 휘둘러
일본에서 가장 유명한 구두쇠 수도국장 이름은? 무라까와 쓰지마

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Old July 10th, 2009, 04:57 PM   #757
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It says 1000m, if you're referring to the Belgian article. Not at least.
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Old July 17th, 2009, 04:35 PM   #758
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thats a cool tower
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Old August 8th, 2009, 05:26 PM   #759
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Quote:
Originally Posted by Saudi guy View Post
Finally works has began removing debris and flattening the ground!!!
you can see at the south obhur the dust floating above the creek!
8/8/2009
Full Size
Preparation works are underway.
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Old August 8th, 2009, 06:04 PM   #760
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Are they cleaning the land? So, it's confirmed it will be built? I've suposed there were not any contractor yet for the tower...
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