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Old January 8th, 2009, 12:35 AM   #1021
Soroban
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Quote:
Originally Posted by Buyckske Ruben View Post
Yes correct close the thread please...! for al while because it is all useless spam right now!
The thread was not done only for pics, but also for news, models, numbers, discussions. This is not spam.
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Old January 8th, 2009, 01:06 AM   #1022
fordgtman1992
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I hate to say my dad and I told you so........

"My dad read in a magazine that Dubai is very low on money and many projects will not get finished. When I mentioned this tower, he said 'no way'"

From about 4 or 5 pages back
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Old January 8th, 2009, 01:58 AM   #1023
Hollie Maea
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I read that a couple of times and didn't see where it says this project is on hold.
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Old January 8th, 2009, 02:06 AM   #1024
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two things, Nakheel has said it has enough money set aside to finish its current projects, but can't start new ones

also, if this is u/c and is going to be the tallest building in the world, why isn't it stickied?
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Old January 8th, 2009, 03:41 AM   #1025
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i realise a lot of people don't read it, but i wrote about this tower about to go on hold on the first of january -

Quote:

High profile victims in the emirate include the Meeras Towers that is now a 100,000 square metre hole whilst piling has been suspended on the Burj Al Alam and Nakheel's 1000m+ plus tower is also expected to have work halted soon.
http://www.skyscrapernews.com/news.php?ref=1925

my information actually comes from various companies on the ground who are working as contractors in dubai.
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Old January 8th, 2009, 07:54 AM   #1026
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Not another Chicago Spire or Russia Tower.
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Old January 8th, 2009, 08:32 AM   #1027
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its not ON HOLD, lot of workers at the site.

When the site is empty we can say ON HOLD but not now.
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Old January 8th, 2009, 08:59 AM   #1028
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Quote:
Originally Posted by spikeshamz View Post
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

No surprises here. With oil prices plummeting to $40 or even $30/ barrel from historic highs of $145 last summer, money is scarce and barely enough to finish these projects. The world economy is right now in shambles and only those who aren't in their right minds will insist to complete these absurd projects.
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Old January 8th, 2009, 09:15 AM   #1029
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On hold !! Great...
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Old January 8th, 2009, 09:16 AM   #1030
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FordGTMan: good for your dad
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Old January 8th, 2009, 09:36 AM   #1031
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I find the whole Dubai scene to be exciting and an architect's dream. However, I can't imagine where all the money, corporations, and people are going to come from to fill up the buildings, islands, and residences being constructed there. An example is Miami and all the new highrises built there in the last decade. Speculation and dreams don't pay the rent and Miami is paying for it. Especially in the current economic climate. I just don't think there are enough vain people in this world to fill up a building a mile high, much less everything else they're building. Perhaps I'm just ignorant and short sighted. It will be interesting to see how things are in Dubai ten years from now. I just wish I had the money to go there to see it for myself. I'd be like a kid in a candy store.
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Old January 8th, 2009, 10:28 AM   #1032
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Quote:
Originally Posted by Stephan23 View Post
On hold !! Great...
as long as we've activity on the Site ( and imre can see it everyday ) the tower is definitely not On Hold...so calm down guys
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Old January 8th, 2009, 11:11 AM   #1033
Imre
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I know many people wish this tower On HOLD but still U/C
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Old January 8th, 2009, 12:44 PM   #1034
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Quote:
Originally Posted by Mr. Met View Post
also, if this is u/c and is going to be the tallest building in the world, why isn't it stickied?
ask moderators
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Old January 8th, 2009, 01:22 PM   #1035
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I'm guessing they will sticky it as soon as it's above ground
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Old January 8th, 2009, 01:26 PM   #1036
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“My dad say”
“said the 30-year-old employee”
“my information actually comes”

Jokes?
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Old January 8th, 2009, 01:34 PM   #1037
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Quote:
Originally Posted by Ingenioren View Post
I'm guessing they will sticky it as soon as it's above ground
or maybe when its half complited?

Quote:
“My dad say”
“said the 30-year-old employee”
“my information actually comes”
I feel exacly the same. Somebody said in bd thread that this one is onhold and i see no single confirmed information about that.
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Old January 8th, 2009, 01:36 PM   #1038
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Quote:
Originally Posted by Ingenioren View Post
I'm guessing they will sticky it as soon as it's above ground
I belive they should sticky it as soon as it's surpased Burj Dubai.
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Old January 8th, 2009, 02:52 PM   #1039
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I agree...That would be "the real situation"...

But when did BD become sticky? After it was surpased Taipei 101 or before?
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Old January 8th, 2009, 03:04 PM   #1040
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I think this project is now Nakheels top priority. I guess they would put on hold all other projects before this one.
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