# Arabian Bay



## mafjar (Aug 2, 2004)

Has anybody heard anything about this project? It's not Business Bay and it's supposed to be in Al-Jaddaf area. I don't know anymore, other than it is moving ahead and an announcement is due.


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## Dubai-Lover (Jul 4, 2004)

is this probably the one we're discussing right now
is it known to us as the world's largest project overlooking the water?? :dunno:

same here

once announced please open a new thread!!!!!!!!!!


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## mafjar (Aug 2, 2004)

very sneaky, so instead of overlooking the sea it would be the Creek, but is there enough space there for it to be the world's largest?


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## ahmedr (Feb 1, 2004)

no, this must be a different one, where did you hear this mafjar, cuz there's a Jaddaf redevelopment plan going ahead, you'll even see it in the Major Projects map.


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## Dubai-Lover (Jul 4, 2004)

mafjar, don't you have any details?
where did you hear or read about this?


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## smussuw (Feb 1, 2004)

It would be more intresting if this projected wasnt the one near Jebel Ali. I would prefer the one on the creek.


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## mafjar (Aug 2, 2004)

Ok. Am gonna try and find out more by next week. I spoke briefly to a friend who is an architect. He just had time to say things were happening on Arabian Bay in Al-Jaddaf...all very frustrating.


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## KuwaitLover (Feb 12, 2005)

Arabian bay is possibly - just possibly an extension of the existing creek into Satwa and maybe beyond. There is space there to do it so who knows. 

By the way, Mafjar, where did you hear this story?


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## mafjar (Aug 2, 2004)

I think it's unlikley to be going into Satwa. Where would it flow? The last I heard is that Dubai government is looking into eventually linking the Creek with Arabian Canal, but this is maybe 10/15 years down the road. As for Arabian Bay not heard anything siince, I can only imagine it is actually Business Bay.


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## DubaiCanadian (Dec 31, 2004)

*Arabian Bays*

Sunland sets sail for Dubai
3/03/05 By: Andrew Nelson

Sunland Group Limited (SDG) announced that its JV partner in Dubai, Gulf Resources & Emirates International Holdings has entered into an agreement with Dubai Properties for the purchase of two land parcels. Gulf Resources acquired the land for $ 134 million and is located in a new development precinct known as Arabian Bays on the Dubai Creek. 

The acquisition is part of a master planned development, comprising a man-made harbour featuring the Miracles of Dubai, a cultural and exhibition centre to be developed by the Government of Dubai in line with other great buildings around the world, such as the Sydney Opera House. 

The precinct will also feature a finger wharf development and the new Palazzo Versace Dubai. 

The joint venture group has also secured a residential tower site, which will be launched and developed simultaneously with Palazzo Versace Dubai. 

At this stage, it is envisaged that these projects will be launched by June 2005, with an end value of in excess of $1.6 billion. 

Sunland said that the move into overseas markets further strengthens the future income stream of the Group with some 50% of the Group’s earnings expected to come from the overseas arm by 2010. 

“The geographical diversification overseas also provides a buffer to the cyclical Australian property market,” they explained. 

At 1018 AEDT, shares in Sunland were trading 1c higher at $2.26.


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## Dubai-Lover (Jul 4, 2004)

seems like this arabian bay is real, hehe
but the developments listed in there doesn't promise too much

and is it even the new top secret development giles has started?????????


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## DubaiCanadian (Dec 31, 2004)

Dubai-Lover said:


> seems like this arabian bay is real, hehe
> but the developments listed in there doesn't promise too much


What!!!!!!!!!!!!???????????????? Dh5.88 billion THIS IS MASSIVEEEEEEEEEEEE :eek2:


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## Dubai-Lover (Jul 4, 2004)

compared to other projects it's peanuts, but it also is the first number to be published. it will rise soon

btw: where did you find the article?


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## ahmedr (Feb 1, 2004)

> a cultural and exhibition centre to be developed by the Government of Dubai in line with other great buildings around the world, such as the Sydney Opera House


This alone will make it a great project, although I've never been to the Sydney Opera House I've seen a couple of documentaries about and its just a marvel!


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## mafjar (Aug 2, 2004)

What's the source for this?



DubaiCanadian said:


> Sunland sets sail for Dubai
> 3/03/05 By: Andrew Nelson
> 
> Sunland Group Limited (SDG) announced that its JV partner in Dubai, Gulf Resources & Emirates International Holdings has entered into an agreement with Dubai Properties for the purchase of two land parcels. Gulf Resources acquired the land for $ 134 million and is located in a new development precinct known as Arabian Bays on the Dubai Creek.
> ...


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## ahmedr (Feb 1, 2004)

Here is one source: http://www.egoli.com.au/egoli/egoliNewsViewsPage.asp?PageID={C9F99443-6442-4A25-B159-AF3A2218DE87}


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## Dubai-Lover (Jul 4, 2004)

i like the fact they now seem to care about culture
it's worth to wait for it till june!


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## Dubai-Lover (Jul 4, 2004)

Property venture puts $134m in Dubai 


Dubai : A Dubai-Australian joint venture is investing Dh491.78 million ($134 million) in the emirate's property sector, according to sources. 
Australian property developer Sunland Group has tied up with Gulf Resour-ces, a subsidiary of Emirates Investment Group, to develop a hotels and condominiums project in Dubai.

"Gulf Resources and Emirates International Holdings, has entered an agreement with Dubai Properties for the purchase of land at Arabian Bays for $134 million," a recent report said.

"The joint venture agreement will see Sunland holding 51 per cent and Gulf Resources a 49 per cent shareholding.

"Gulf Resources is responsible for the funding of the project and Sunland is responsible for the project delivery, with design and styling of the project provided by the House of Versace."

The joint venture company will develop Palazzo Versace Hotel and condominiums in Dubai, it said.

As part of the joint venture agreement, Gulf Resources will also purchase 49 per cent of the $85 million (Dh312.21 million) Palazzo Versace Gold Coast in Australia.

The agreement is conditional upon new funding to be arranged by Sunland on behalf of the joint venture (for Palazzo Versace Gold Coast) with settlement of the sale to be finalised by July , the company said.

Palazzo Versace hotel last year became a member of Leading Hotels of the World.

Anne Jamieson, general manager of Sunland Group, recently said: "The Group's current acquisition strategy is to concentrate only on those areas that are showing strong future population and infrastructure growth, along with providing a product that matches the market's needs for that specific geographic location."

Sunland Group last year recorded a 103 per cent increase in its profit. It's board declared a $55.2 million (Dh202.75 million) net operating profit for the period that ended on June 30, exceeding the original forecast $45 million to $50 million (Dh165.29 million to Dh183.65 million).

Its joint venture with Gulf Resources is expected to further boost its performance this year.

"This result represents a fivefold jump on the group's objective to annually increase earnings by 20 per cent. Earnings per share accordingly increased to 30.6 cents, with the asset backing increasing to 87.5 cents," she said.

"Turnover for the year was 78.5 per cent above the previous year, increasing to $390.5 million [Dh1.43 billion]. Notably, joint venture sales was $137 million [Dh503.21 million], of which Sunland has taken up its share of $68.5 million [Dh251.61 million] in turnover for the year."

Trade between Australia and the UAE is recording a strong growth, due to strong air connectivity established by Emirates. The airline, which is investing in a resort in Australia, currently operates 28 weekly flights to Australia.


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## soennecken (Jan 18, 2005)

I think we need clarification about Arabian Bay(s). Where is it exactly?


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