# new top secret development



## Emir of Ketir (Jan 27, 2005)

*seems to be some truth in it..*

*Dubai awaits projects worth billions * 

Gulf News, 25.02.05 - by Saifur Rahman, Staff Reporter 

Dubai : Unanounced projects worth well over Dh100 billion are waiting to be launched in Dubai by various government and semi-government bodies, property market sources said yesterday. 
These are over and above the already announced projects in various parts of the city.

"Due the lack of adequate housing facilities, various development projects have been held back by authorities in Dubai and that reflects the need for additional supply of quality accommodation facilities in the emirate," said a property developer.

"The strong growth in Dubai's property sector, which has attracted more than Dh100 billion in investment already, will continue for another three to five years.

"We do not see the market softening during this period," he said, dismissing the rumours of a possible property bubble.

The market, however, is expected to stabilise in 10 to 15 years, said Abdul Rahman G. Al Muttaiwe'e, director-general of the Dubai Chamber of Commerce and Industry (DCCI).

"There is enough room for new projects in Dubai and we see an unprecedented growth in the real estate market of Dubai," he said, while opening Home Owners Dubai exhibition at the Madinat Jumeirah Hotel yesterday.

"We do not see the possibility of a collapse in the market, due to a healthy and balanced growth taking place in the emirate. There are associated developments, businesses, industries, logistics, transportation and tourism industry all are growing, which will complement the growth of the real estate sector in Dubai.

"However, we do not foresee a market stabilisation before 10 years. We expect the market to stabilise in 10 to 15 years from now."

Officials also urged the authorities to create a strong regulatory body to monitor the market closely, which will look into environmental and consumer issues and rights.

Referring to a recent scandal in the market by a realtor, Al Muttaiwee said, the government has taken appropriate measures to contain this.

"The authorities have put laws into practices to check this and to bring confidence among investors. These types of events are isolated incidents However, the government is alert and it has acted."

A private developer said, the incident reflects the absence of a proper regulatory body to monitor the sector.

"Property buyers also should demand the inclusion of specification sheet as part of the contract, besides other aspects."


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## ChrisO (Feb 3, 2005)

*Scandal?*



> Referring to a recent scandal in the market by a realtor


Does anyone know more about this?


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## ahmedr (Feb 1, 2004)

By scandal the author is referring to the guy who was marketing a huge project called "The Jewel" which was later found to be a fake project.


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## AltinD (Jul 15, 2004)

^ The guy was arrested in early January and he was wanted for the same froud in some other countries also. Only in Norway he has scamed some 30 million dollars from buyers of non-existing properties, mostly in Spain.

However days after The Jewel was anunced in late November, the Dubai Goverment was quick to distance itself from the project and to never indorse it.


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## ChrisO (Feb 3, 2005)

Thanks guys. Thought I missed something.


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## Aloosh (Jan 24, 2005)

hope its a group of towers for middle-class citizens...enough state of the art projects.


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## juiced (Aug 18, 2004)

I THINK I KNOW WHAT IT IS, check the Business Bay thread in the forum


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## fahed (Nov 10, 2004)

If I was coal I would've been burnt by now !


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## Anas Anani (Feb 19, 2005)

lol i remember a guy in kuwait who sold his house for 12 at the same time ahhahaha  thought he escaped to the USA and never been cought... he made himself 20 million VERY! smart man


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## SA BOY (Mar 29, 2003)

Ok you have all waited long enough. Its called the 7 pearls of dubai and involves 7 new islands created by dredging the area next to Dubai festival city and the bird sanctury. It also incorporates the island in the creek which will become a hotel complex.
the towers will look back at SZR and will be very tall (I was told many towers between 40 and 80 stories) .


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## Dubai-Lover (Jul 4, 2004)

sounds very nice
once finished the skyline will be overwhelming

a hotel complex on a single island? not bad


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## mafjar (Aug 2, 2004)

SA BOY said:


> Ok you have all waited long enough. Its called the 7 pearls of dubai and involves 7 new islands created by dredging the area next to Dubai festival city and the bird sanctury. It also incorporates the island in the creek which will become a hotel complex.
> the towers will look back at SZR and will be very tall (I was told many towers between 40 and 80 stories) .


Yep take a look at Business Bay and LA Ville Contemporaire...the other part of it is the Wellness Village


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## DUBAI (Aug 24, 2004)

thank goodness, i was worried that we would never find a use for that island.
good idea, now we have to work out how to get to them!


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## ahmedr (Feb 1, 2004)

haha, poor juiced!

Thank you SA Boy, any info on when it's going to be launched?


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## Face81 (Aug 24, 2004)

dxb_raptor said:


> thank goodness, i was worried that we would never find a use for that island.
> good idea, now we have to work out how to get to them!



that poor ickle island! lololololololol


Dubai municipality is prolly having another heart attack now.......... this means they need another set of bridges (or tunnels) and the mono rail route will have to be re designed......... AGAIN! lololololololololol

The flamingoes are going to be scared featherless by all that activity around their habitat! heh heh


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## Krazy (Apr 27, 2004)

^ I'm starting to have serious doubts on whether this monorail project will ever happen.


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## smussuw (Feb 1, 2004)

Krazy said:


> ^ I'm starting to have serious doubts on whether this monorail project will ever happen.


Yea it is. They just opened the envelopes sp? today. The contratc prices for the first phase ranged from AED6 billion to 10 billion.


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## Krazy (Apr 27, 2004)

Im aware of this. It's just that there are way too many obstacles for this project, too many redesigns, and the govt seems to be very relaxed with this project as compared to others. The interest level of this project is not as high as say for Burj Dubai. That's what I meant. They are saying 2009 now, I would go with 2012 or 2013. Just saying, dont have high expectations with this project.


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## soennecken (Jan 18, 2005)

"The flamingoes are going to be scared featherless by all that activity around their habitat! heh heh"
__________________

I think we can kiss goodbye to the Flamingoes.......I don't think the WWF is going to like this?

The dredging must be quite extensive if they are going to create 7 new Islands. 

I have about 9 years to retirement, will I see it finished SA Boy?


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## markmywords (Feb 16, 2005)

Dubai Marina, 80 plus floors. Stunning architecture. WIll be unveiled in a week or two 
Markmywords 
Not necessarily the development you are referring to.


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## Dubai-Lover (Jul 4, 2004)

makes sense somehow, but why didn't they realize it earlier
it's reasonable to keep things low near airports
but what will happen to dubai airport city then? :sly:

as the area is so big 140sqkm, i guess the tall towers will have a big distance to the runways


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