#ON HOLD: REDEVELOPMENT OF PORT RASHID

[THE DUBAI GUYS]

High premium on Port Rashid plots
Port Rashid will be developed as a mixed-use project, which will include residential units for 200,000 people. (NASSER YOUNES)
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Hamed Al Sewerky on 6/9/2008

Nakheel has concluded the sale of the first batch of plots to developers in Port Rashid – the only beachfront area within the city of Dubai left for development.

The plots were sold at an average of Dh750 per square foot. Land is projected to be handed over to developers by the end of this year.

Sultan Ahmed bin Sulayem, Nakheel chairman, declined to disclose the volume or value of the sales, but Emirates Business has learned that the cheapest plot in the area has been sold for Dh412 million, which comes to Dh729 per square foot for a plot of about 587,000 square foot.

Nakheel had invited developers a month ago to look at its redevelopment plans for Port Rashid.

Bin Sulayem told Emirates Business that the plots have been sold to a number of real estate development firms from the UAE and abroad, adding that Nakheel is studying the release of the next batch of plots to developers. Bin Sulayem rejected complaints from some developers that his company had exaggerated the prices of the plots to very high levels. "The fact that all the plots that were on offer sold out within weeks is an evidence that prices were realistic to the value put on the plots by developers," he said.

The average per square foot price of Dh750 was considered very high by some developers. They also complained that they were bound by contract not to sell their plots to other developers for a mark-up.

However, Nakheel clarified that the buyers can develop the plots as their own projects and sell units within their development to home and office buyers. Nakheel has given developers 18 month to settle the purchase of the land. They had to pay 10 per cent as a booking deposit. Another 10 per cent each has to be paid this month and in September. By the end of the year or at the handover of the land, whichever comes first, another 20 per cent has to be paid.

The balance 50 per cent has to be paid next year with 20 per cent in March 2009, or after three month from the handover. And 10 per cent each has to be paid in June, September and December 2009.

Bin Sulayem said Nakheel has studied a number of its own projects to be developed in Port Rashid area. He gave no details saying that these will be announced at an appropriate time.

The Nakheel chairman denied that Emaar had bought any of the Port Rashid plots on offer as these plots were too small for a master developer, adding that some of the plots on sale were bought by some of the best known names in the global real estate industry.

It is not yet known what the per square foot price of a built-up property in Port Rashid is likely to be. However, at the neighbouring Dubai Maritime City, ETA Star is selling its Verde project at Dh4,000 to Dh5,000 per square foot.

Port Rashid will be developed as a mixed-use project

R

[THE DUBAI GUYS]

ok so this is the NEW masterplan by nakheel for port rashid...they added an island but NOTHING looks like an oryx's head!

[IMG]http://i27.************/29y4d2w.jpg[/IMG]

R

[Face81]

it just looks really odd

[A.U.S. arch. Student]

All of it looks odd and congested, I mean the entrace to the creek is completely lost within a miss-mash of islands that will for sure create years of silt filled waters and massive loss of sea life (break waters creating new reefs blah blah blah please....they cannot possibly balance the enviromental impact these islands will have).

[THE DUBAI GUYS]

how they intend on getting ships thru that MESS is beyond me...

R

[Julito-dubai]

http://www.tak.com.my/masterplanning_current_0.html#

two new renders of Port Rashid

[The-King]

wow awesome renders now I can finally see the oryx's head!

[THE DUBAI GUYS]

here is the oryxa head...I think...sans that circular island:

[IMG]http://i26.************/iwp354.jpg[/IMG]

R

[bizzybonita]

Nakheel begins Port Rashid redevelopment

Staff Report
Published: July 13, 2008, 13:30

Dubai: Nakheel, a Dubai World company and one of the world’s largest and most innovative real estate developers, has revealed the latest progress at its most recently launched coastal development in Dubai, which includes the completion of stage one of land sales and a major contract award.

Revealed as a project in January this year, the redevelopment of Port Rashid has been named Mina Rashid. The redevelopment will build on the culture and heritage of the original port and will be a tribute to the memory of His Highness Sheikh Rashid bin Saeed Al Maktoum, the father of modern-day Dubai.

Nakheel has also announced a major contract win at Mina Rashid awarded to joint venture, Dredging International – Boskalis Westminster Middle East. The contract, worth Dh2.2 billion will include a sizeable amount of land reclamation including the construction of a breakwater and shore protection.

A total of approximately 86 million metres cubed of sand will be dredged reclaiming 540 hectares of new land. Work will start immediately and will be completed within a period of two and a half years.

The developer has also revealed that the first stage of land sales at Mina Rashid has been completed. Over twenty plots have been sold to local, regional and international developers and will be handed over at the end of this year.

Nakheel recently invited a number of developers to look at its redevelopment plans for Port Rashid and available plots were sold out in a matter of weeks

[dubaiflo]

So let's hope this is completely seperate from the Universe.

[THE DUBAI GUYS]

that was quick!!!!!

Dredging starts at Dubai's Port Rashid

Published: 21 July 2008 13:50 GMT Author: Colin Foreman More by this Author Last Updated: 21 July 2008 16:30

The joint venture of Belgium's Dredging International and Royal Boskalis Westminster of the Netherlands has started work on the dredging and reclamation package for the redevelopment of Mina Rashid, also known as Port Rashid, in Dubai.

Nakheel awarded the AED2.2bn ($600m) reclamation contract in early July. The two-and-a-half-year contract involves 86 million cubic metres of sand that will form 540 hectares of new land, and the construction of a breakwater and shore protection.

The overall development will be about 760 hectares in size, of which about 600 hectares will be reclaimed. It includes residential, office and commercial buildings. The development have 17.5 kilometres of waterfront and is expected to house 225,000 people.

It will also include a range of community facilities including schools, mosques, museums, parks and a hospital and medical centre, and will be home to a new luxury cruise terminal (MEED 13:7:08).

R

[bizzybonita]

Nakheel begins reclamation of Mina Rashid



Abdulrahman Kalantar, Managing Director Design & Planning at Nakheel


Abdulrahman Kalantar, Managing Director of Design and Planning, Nakheel makes the call to the Seaway (pictured), a Boskalis trailer suction hopper dredger vessel, to initiate the reclamation of Mina Rashid on Tuesday 15 July. Representatives from Joint Venture Dredging International – Boskalis Westminster Middle East, who are responsible for the land reclamation, were also present. The works include the construction of a breakwater and shore protection in a contract worth AED 2.2 billion. A total of approximately 86 million metres cubed of sand will be dredged reclaiming 540 hectares of new land.

The redevelopment of Mina Rashid will build on the culture and heritage of the original port and will be a tribute to the memory of His Highness Sheikh Rashid bin Saeed Al Maktoum, the father of modern-day Dubai. The project will provide a balance of residential, office and commercial development within an urban waterfront environment. It will have 17.5 kilometers of waterfront promenade and the projected population will be 225,000 people. Mina Rashid will have a host of public transport options including an internal mass transit and water taxi system that will provide links to the Dubai Metro, Dubai Maritime City and Palm Deira.

[Julito-dubai]

this goes partly on the expense of Palm Deira. Its left "wing" island has been downsized due to this development...

[bizzybonita]

P&T signed up for Mina Rashid project


Architecture practice P&T has been signed up by Azizi Investments as architect and consultant for a as-yet unnamed project at Mina Rashid.

The tower, scheduled to be G+45, is expected to comply with the overall design ethos of the development, masterplanned by Nakheel. Mina Rashid is being developed to emphasise the culture and heritage of the original port.
“We are wholly confident that P&T has the experience to deliver designs which will be iconic yet sensitive to the cultural heritage of Mina Rashid,” said Merwiss Azizi, chairman of Azizi Investments.

“[We] are looking forward to using the experience we have gained on world-class projects in Asia and the Middle East to deliver Azizi a signature project,” said James Abbot, director of P&T Dubai.

P&T is Hong Kong-based but has operated an office in Dubai since 2004. Previous projects include the City of Arabia in Dubailand and the Tamweel Headquarters in Dubai.

[nexlite]

Originally Posted by THE DUBAI GUYS

how they intend on getting ships thru that MESS is beyond me...

R

http://www.arabianbusiness.com/53012...jebel-ali-port

All those long paragraphs of achievements & praises of Jebel Ali Port is not all truth (Some are artificial statements containing CRAP).I'll also admit the positive work done by the Dubai Govt in regards to its Port but as far as I remember : Too Much Negatives as compared to Positives ..........
Its human psycology to highlight its good deeds but when it comes to malpractices ,its tends to ignore & hide them !!!!!!!

[The-King]

04/11/08
image hosted on flickr

Source: http://flickr.com/photos/monotoni/3047915734/

[Julito-dubai]

http://www.bachy-soletanche.com/SBF/...2575080053E185

a different angle

[AltinD]

Originally Posted by Julito-dubai

http://www.bachy-soletanche.com/SBF/...2575080053E185

a different angle

You missed the date of the article

[Julito-dubai]

just as we speak!!!!

[The-King]

oldie but goldie
27/10/08

Source: http://www.panoramio.com/photo/16384759