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Work on Nakheel Tower 'stopped for 12 months'
by This email address is being protected from spam bots, you need Javascript enabled to view it on Wednesday, 14 January 2009
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Results 1 to 9 of 9
Posted on Thursday, 15 January 2009
Why 11 years?
Posted by Kieran at 13:00 UAE time
I know its hard for some to forget but Dubai is not the only place in the world with money and the Burj was neither designed nor lead-built by local contractors.
The skills are very portable.
1km+ towers were planned for both Kuwait and Saudi and, as they are countries not as heavily leveraged, financially, as Dubai, they could go ahead with them if they wished. The Burj could be beaten in just a few years if anybody seriously wants to do it.
Whether they chose to or not is another question but only people with very restricted vision would go thinking that Nakheel could present the only competition to the Burj in the next 11 years.
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Welcoming
Posted by John Doe at 12:00 UAE time
I wish it never gets built!,I wish the greedy investors learn fomr their greed and the govt learns how they swindled millions and why ppl gave into their stories, this just goes to prove how fragile the economy is in Dubai,which has been the worst hit reion in ME!
A shame really, the bubble was eventually going to burst but no one had anticipated so soon and to this agree, learn from the mistakes and like other readers have pointed out, the recession had already started, this correction and further corrections in ridiculous house prices are now awaited!!!
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Posted on Wednesday, 14 January 2009
Burj Dubai Rules!
Posted by Burj Dubai Fan at 14:59 UAE time
This means that Burj Dubai will remain the tallest tower for at least next 11 years. I love this building and think it deserves to be THE BOSS for years to come!
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Nakheel and strategic planning? - come on!
Posted by Brendan at 13:58 UAE time
It's apparent that Nakheel's strategic planning is rather a short term make a quick buck ideal. From the ridiculous salaries that they pay, the way they treat suppliers by demanding 30 - 90 days credit, and their plans to change the worlds thoughts processes from Green to Blue , one can only discern that they are playing at being a business rather then actually being one. Its not a game.
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Dreamers.
Posted by Paul King at 13:41 UAE time
Construction work has stopped for 1 year! I think they've missed a zero there. It'll be more like 10! Do Nakheel seriously think the economic conditions will be any brighter in one year's time. They must be dreaming... This is an economic meltdown and will last for 5/6 years yet. This is not a crisis... It's a correction and the new conditions should be welcomed as the new "normal!"
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will never be built
Posted by paul at 12:16 UAE time
Like I said when it was announced - IT WILL NEVER BE BUILT! Nakheel's absurd spin at the time, and the chorus of approval from Dubai fanboys at the time was quite laughable to anyone who looked at the financial landscape.
The building is an anachronism already, something that belongs in the bubble era that ran up until mid-2008.
The fact it is a 1-year delay will not doubt be spun positively. But work will not commence for at least 5 years, and probably never.
The era of absurd schemes like this is over and the sooner Dubai switches its attention to proper sewage works, proper public transport and other essential but unglamorous infrastructure, the sooner it can get back to being a sustainable, growing city.
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Cancel Universe, a welcome
Posted by Hate Universe at 12:08 UAE time
We all welcome if Nakheel cancel Universe project. That is one piece of ugly work i have ever seen. Why why why on earth would u want to overdo things? Palm and World is elite and classic, universe is somethgn like a kids thought.... gggrrrr.... Less is more... dont overdo nakheel... concentrate on international city sewage problems before u create more...
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Sweet-Nakheel !!
Posted by Addy at 11:34 UAE time
Well, I agree with the other comment regd. the study on industry and feasibility beofre launching such a massive project.
This is really shame ful. In OCt-08, things were pretty clear that we have in for next 2 years. even a barber was talking about recession.
So, good luck to all the hefty pay taker CA qualified Manager and Analyst. As far as Nakheel goes, i think they shoudl seriuoly re-design their business model.
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Umm!!
Posted by SR at 08:55 UAE time
If I recall correctly, this was launched during Cityscape; 1st week of October. Just three months down the road, "delayed for 01 year" (or is it indefinitely??).
Any company strategy starts with an analysis of external factors (market, competition etc.), that is basic.
Nakheel does not seem to have done any such analysis in this case.
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