DUBAI | Nakheel Tower | 1000m+ | 3280ft+ | 200 fl+ | Cancelled

[CrazyAboutCities]

Pictures please!

[Mr. Met]

Originally Posted by devilsadvocate

So the construction has started...
Does anyone have pics of the site?

Dubai is becoming the "simcity" for all rich people, if you look at all those buildings!

It's a pity, that Dubai isn't located in the US... That would be so awesome!!!

really, someone please post pics

[Tom_Green]

Originally Posted by Mr. Met

really, someone please post pics

They are in this thread. Search them.

[Luis87]

so fucking big!!
this is only the project or they will start to construct right now?

[Mr. Met]

Originally Posted by Tom_Green

They are in this thread. Search them.

i have seen renderings and models, i was saying that if this is under construction, where are the construction pictures?

[Hightech Pro]

It took me 30 seconds to find it for you, so why dont you even try to find it yourself? Most people here are tired of answering such questions again and again.

Here you go:
http://www.skyscrapercity.com/showth...722506&page=39

And here again:
http://www.skyscrapercity.com/showth...722506&page=44

[Indica]

Originally Posted by SpaceScraper

Dubai's efforts to create a great financial center has been only moderately successful. The stock and commodity markets are straining to list new companies and commodity contracts. The biggest hurdles to the Dubai's financial success is that the Middle East has a modest number of publically listed companies based there, the Middles East is not densely populated, Islamic based laws in the Middle East make modern finance complicated, unliberalized labor markets limit real economic growth and its commodity dependant economies are a source of volatility, which most investors avoid.

Tokyo, Singapore, London, New York, Hong Kong and Chicago all have better fundamentals as financial centers. Though Dubai may join the ranks of these financial centers, it will never exceed them without demographic, structural and cultural changes.

Things will change in the future - the stock and commodity markets are going to end up growing as more and more companies discover some of the advantages (as far as tax goes) of basing their corporations there. I believe that they will alter things through time as necessary (even with Islamic law) in order to make everything work. Of course, only time can tell though and we will all have to wait and see (as well as ride out this bullshit economic situation that is making people around the globe suffer).

[Joy Machine]

deleted...

[ZZ-II]

Originally Posted by Luis87

so fucking big!!
this is only the project or they will start to construct right now?

they're working on the tower already

[dachacon]

Originally Posted by Indica

Things will change in the future - the stock and commodity markets are going to end up growing as more and more companies discover some of the advantages (as far as tax goes) of basing their corporations there. I believe that they will alter things through time as necessary (even with Islamic law) in order to make everything work. Of course, only time can tell though and we will all have to wait and see (as well as ride out this bullshit economic situation that is making people around the globe suffer).

things will not change very much, do you know how expensive and time consuming it is for companies to change addresses? you will not see companies like chase morgan, citi, or bank of america moving all there office space to dubai. the cost will be so high no tax breaks or levels will change that. not to mention the backlash they will get from consumers around the world. they may open regional branches but no one will pack and move from home across the ocean to a fantasy land.

[DXBQuantum]

For now lets just admire the model..... that cost the same amount as a small building !!!

[IMG]http://i41.************/zsmzkn.jpg[/IMG]

[Imre]

Originally Posted by CrazyAboutCities

Pictures please!

I would take pics every day but nothing visible from outside.If I see something new I will post.

[ZZ-II]

we probably won't see much until the foundations are ready...so you have to take new pics in 2010

[patrykus]

...or some new pics from plane or building (i know there is no many nearby), or some of lots people flying to Dubai maybe could take some pictures of the area where the site is (we could zoom them). There is some posibilities i think.

Oh and i forget the last option. Somebody could sneak in and take some inside photos . Ofcourse if there is anything to shot, but i believe there must be some visible progres.

[Buyckske Ruben]

Originally Posted by ZZ-II

we probably won't see much until the foundations are ready...so you have to take new pics in 2010

Yes correct close the thread please...! for al while because it is all useless spam right now!

[patrykus]

I thing rather than this one they should close shicago spire, russian tower and such like this. This one recently is not going to be delayed and is allready under construction.

[christos-greece]

Originally Posted by ZZ-II

they're working on the tower already

You mean, at construction site...

[ZZ-II]

according to Soletanche Bachy (http://www.bachy-soletanche.com/SBF/...2574F2005852BA ) they're working on the foundations for the tower already ( completion 2010 ).

[saeed]

ok, I was talking to a nice guy from Nakheel, is a financial director and he told me something: Nakheel still going on with all there announced projects( I beleive he told me that just to spread the good words about the company ) but also mentioned that everything new and starting will not start for some time until they finish most of the projects in hand. meaning they are looking only to finish those projects and cash out from them first to finance the new ones. I asked him about this tower, he said I MEANT EVERYTHING NEW!
I guess that means......

He also asked me if we are hiring
That was a joke, he didnt say that last part

[spikeshamz]

It is on hold.

Jan 4, 2009
Dubai dream turns sour
DUBAI - DUBAI'S rapid expansion in recent years provided jobs for millions. But the global financial meltdown has abruptly ended the dream for many people as more and more firms sack staff to cut costs.

Spectacular economic growth, spurred by a robust construction sector, lured people from far and wide to the booming city on the shores of the Gulf, tempted by high pay, low tax and - for many Europeans - the year-round sunshine.

Foreigners form most of the population in Dubai and with residency permits linked to employment many of the people who are losing their jobs face the added upheaval of leaving the country.

'I don't feel that I was wronged. This is business... But I would have preferred a cut in my salary rather than being sacked,' said an Arab man who was let go by government-controlled property group Nakheel.

Another former Nakheel employee: 'Only four days before we were given the termination letter, our director told us in a meeting that the situation was very difficult and that the budget for our project had been cut by nearly three quarters'.

'It was too quick,' said the 30-year-old employee who was sacked at the end of November as one of 500 employees - 15 per cent of the workforce - who lost their jobs.

Nakheel has its fingerprints on most of Dubai's iconic projects, including three palm-shaped artificial islands and a cluster of islands in the shape of a world map.

It unveiled in early October another gigantic project to erect a one kilometre high tower, which, if ever built, would dwarf the unfinished Burj Dubai, currently standing around 700 metres high.

'We have the responsibility to adjust our short term business plans to accommodate the current global environment,' said a Nakheel statement announcing the redundancies, which it described as 'regrettable, but a necessity dictated by operational requirements'.

Property sold like hot cakes for the past few years but demand has slumped amid the global credit crunch as panicking investors and creditors fled the market.

All of sudden, the viability of the grandiose property projects has become questionable.

Nakheel's job cuts programme is one of the largest so far in the United Arab Emirates, but is far from the only one.

Damac Properties, Dubai's largest private property developer, cut 200 jobs, or 2.5 per cent of its workforce, in October.

'We'd been growing in sales by 100 per cent a year, but it is not the same now. If the market gets worse, we will have to let more people go,' Damac chairman Hussein Sajwani said this month.

Al-Shafar General Contracting said a few days ago it was laying off up to 1,000 workers as its order book has dropped by three billion dirhams (S$1.2 billion) since September.

Emaar, the other local property giant, said recently that it was revising its recruitment strategy and reportedly laid off 100 workers last month.

Omniyat has shed 69 jobs out a 350-strong workforce and Tameer has reportedly notified 180 employees that December 31 will be their last working day.

The job losses have spread beyond property jobs to the financial sector.

Shuaa Capital investment bank, for instance, has cut 21 jobs, or nine percent of its manpower.

Companies in Dubai and the rest of the United Arab Emirates were until recently on a hiring spree. Some 640,000 work permits for foreigners were issued in the first quarter of this year, 306,000 in Dubai alone, according to a study published last week.

The study put the population of the UAE at 6.4 million by December 2007, among them 5.5 million foreigners. Over three million were registered with the ministry of labour, i.e. were workers.

Ex-patriate people who lose their jobs in Dubai or other Gulf countries have to pack up and leave within one month, a potential life wrecker for many families.

Employers are supposed to notify the banks of their sacked employees about their contract termination, potentially prompting the banks to demand repayment of any loans before the employee leaves the country.

Nakheel has taken this into consideration by keeping fired employees on its payroll for three months, enabling them to stay until the end of February.

'Our banks will be informed by February 1,' said one of the Nakheel former employees, who added that he was lucky not to have loans to pay, unlike many others in the UAE who took advantage of easy credit over the past few years.

Many Nakheel employees have invested their savings in property being developed by the company and people who are sacked face losing that money.

'We've invested in Badrah, in the Waterfront project. What will happen to our investment and how are we going to pay the coming instalments?' wondered another of the Nakheel employees facing redundancy.

The whole of the ambitious Waterfront development appears in doubt as Nakheel has scaled back work on the project, as well as on other schemes.

However, at least one entrepreneur is seeking to turn the job losses to advantage.

A three-star hotel in a city has offered free meals for diners with redundancy letters. Very few have reportedly taken up the offer, but the hotel has elicited significant publicity. -- AFP