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Why do They always cancel the good project:
Jumeirah garden
Jumeirah central
Dubai sqaure


It’s not canceled just redesigned to something better!
 

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Where to build in marina, business bay or DIFC ? No more plot left Habibi.
Bad example. Just because there aren't plots left in the most densely built-up parts of the city, doesn't mean there aren't plenty of idle room in other districts. Also, Business Bay seems pretty barren to me. Unless the Google Maps pictures are severely out of date, it seems like there's easily room for three times as many buildings as there currently are there, just by filling in the gaps.
 

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Hopeful silver lining...

Dubai's Emaar sees 2018 net profit rise 30% to nearly $2bn

Revenue in 2018 increased by 37% over 2017, says Dubai-based developer


Emaar Properties on Thursday reported a net profit of AED7.216 billion ($1.965 billion) in 2018, a 30 percent increase over the previous year, prior to considering the effect of the IPO of Emaar Development and forex movement.

Revenue in 2018 was AED25.694 billion, a growth of 37 percent over 2017, the Dubai-based developer said in a statement.

During the fourth quarter, Emaar’s revenue was AED8.304 billion, up 53 percent while net profit was AED1.954 billion, a rise of 34 percent.

Mohamed Alabbar, chairman of Emaar Properties, said: “Our strategy for 2018 was to launch and build premium real estate assets that gained strong investor response from regional and international markets.

"We also expanded our malls business to be relevant to changing customer aspirations, highlighted by the expansion of The Dubai Mall and the launch of Dubai Square.

"In the hospitality business, we aim to be asset-light and focus more on our operational strengths. With digital transformation and building an ownership mindset driving our growth, we will continue to create long-term value for our shareholders.”

Emaar said it has handed over more than 51,800 residential units in Dubai and other international markets. More than 29,800 residences are under development in the UAE and over 17,500 units in global markets.

The first homes in Dubai Creek Harbour will be handed over this year, it added.

Emaar’s international business operations were equally strong in 2018, contributing 12 percent to the total revenue. Revenue from overseas operations was AED3.081 billion.

Emaar said it has a landbank of over 1.6 billion square feet in key markets and is the world’s largest property company outside China, with a brand value of over $2.7 billion.
https://www.arabianbusiness.com/con...ar-sees-2018-net-profit-rise-30-to-nearly-2bn


Maybe this is safe afterall? :dunno:
Their retained profits from last year is also enough to start Creek Tower...
 

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These numbers are questionable to me .. if this is the case we would have seen a pick up in construction speed and activity instead of a decline! This might be serving as a marketing tool by Emaar and not a real reflection of what's actually going on.

Hoping for the best ..
 

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There is no reason not to trust the numbers; it would be greatly illegal for a company to release fake numbers, especially for one being traded on stock market. Yet a big net profit doesn't mean that they will (or should) go on full speed ahead with all projects, this greatly depends on the forcast of how well those would sell. It should however secure the projects that are already under construction, which is exactly what we are seeing in Downtown so far.
 

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^^Will they start construction in 2025? Or is it the completion date
If they started this year or next year, 2025 will be a reasonable completion date :)
 

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My gut feeling told me to wait until early february to start to worry, as ive said in the WDN section. Now its almost march and nothing is going on. They rarely cancel anything officially in the UAE, so i feel like that it is likely that this will go the Burj al Alam route.
 

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My gut feeling told me to wait until early february to start to worry, as ive said in the WDN section. Now its almost march and nothing is going on. They rarely cancel anything officially in the UAE, so i feel like that it is likely that this will go the Burj al Alam route.
The foundations of Burj al Alam were literally buried and paved over, weren't they? That seems a little drastic comparison to make, as there's not really enough of Dubai Square to bury.

Besides, Burj al Alam was to be built in the heart of Business Bay, in a location where idle land is worth more than it is around Dubai Creek. Even if things go completely south with Dubai Square, I don't think it'd make economic sense to "erase" what has been built so far and prep the site to be sold as a blank canvas. Emaar could just build something else somewhere else instead, and keep the Dubai Square land for their own future developments. There's plenty of room to build in Dubai, and the site is not central enough that it makes sense to erase it.
 
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