This whole thread should give a pretty good explanation. Most linked articles in the recent months seem concerned about a supply of newly finished construction projects that isn't met with the same level of demand. Residential prices have been dropping 15 % year-on-year for a couple of years now. The total floor area of retail estate is set to triple within the next few years, but nobody projects tourism or population growth to increase nearly as fast. Office space is apparently seeing less of a demand too, yet new offices are being cranked out at a high pace.LOL what are you talking about guys contruction pick up and market oversupply
Well, that's a truth with some modifications to it, as they say. To begin with this first one, it's a newly announced design all right, but the project itself was announced in early 2016. Note the bit where it says "to be completed within three to four years", this one has clearly been in the cards for a while but failed to materialize until now.dubai just announced 2 supertalls in 1 week
Dubai Financial Market HQ
This one is even less recent. It's just the most recently proposed design for a project stuck in development hell since 2008, without much indication that it will come to fruition quickly this time either.ONE DIFC
It will be great if someone can make infographic show what being built in each cycle:Dubai Towers from planning to launch to activity on site takes 4 to 5 years ... this is basic Dubai knowledge.
NOT TRUE, Financial Market HQ was planned for a totally different plot and design in BB and NOT where they decided this year to build it so, IT IS a new project.
A simple google search will prove that the progress and population in Dubai has hugely increased in the past 10 years and this will continue with the market cycles being taken into consideration.
The same complains about Dubai were exactly said in 2009, 10 years ago, and if I remember correctly, everyone was like OMG dubai is canceled Dubai is over, and now this is happening again and I can bet it will happen in ~2029. Humanity short memory never cease to impress me.
ALL this being said and with all the complains, Dubai is still leading in construction and we are in the lowest point in the market cycle, this speaks volume compared to 2009!
I think they are for the Mall, or something else.Those flat top cranes to the left of the Island in the distance, is that the approx location of the Creek Tower? Or are those for the Mall?
yes they belong to the northern bridge construction siteI think they are for the Mall, or something else.
If you go to the area on Google Maps, you can use the "measure distance" tool as a straightedge. A sign in the photo tells you it is taken from Al Jaddaf Marine Transport Station, which is here. You can tell the exact vantage point of the photographer, the east corner of the building. Right-click on the spot and select "measure distance", then go do the same at the site of Dubai Creek Tower. The straight line between the two points goes through the edge of the Harbour Gate Hotel, so a crane standing next to the tower wouldn't be that visible from where the photo was taken - it would be at least partially behind the building. A crane would be very visible if it stood near the northeast edge of the Dubai Creek Tower site, but the question still remains why you would place a crane there.
Upon a little further inspection of the area on Google Maps, I think the cranes seen here could be likely candidates for being the ones in the picture. The other crane seen below the right one is found on a site a couple hundred meters south of them. It's a mobile crane, so naturally its location would move around a bit, but the colour appears to match.
That article must be quite old, as it says about the Royal Atlantis Hotel: "There’s nothing upright yet, only some foundations, but we planned it that way”from 23rd Oct article:
I thinnk its for competition reasons not for money reasons because thy just lunched the 9 billion $ the valley last monthI just saw this article about Emaar selling "at the top". If the deal goes through this would help with a few of the doubts about the DCH Tower:
1. It being competition with BK. They would actually be incentivised to make a more attractive observation deck and take business away from the BK.
2. $1bn is not far off the projected project cost.
For what it's worth, when I was recently in Dubai and speaking to real estate people (who were not trying to sell me anything in DCH), they all seemed certain that it was a case of "when" not "if" the tower gets built.