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Dubai racecourse deal scrapped

Discussion in 'Dubai property' started by samsaf, Jan 13, 2009.

  1. samsaf

    samsaf New Member

    It was 1.3 Billion project due for completion in 2010, at the time of 2010 Dubai World Cup.

    Malaysian stock exchange that the firm and its joint-venture partner Arabtec have been given a fortnight's notice by Meydan to cancel the project.

    Shares in the Malaysian contracting company plummeted nearly 30 per cent on news of the decision, triggering an automatic suspension of trade on the Malaysian stock market

    Full story here:

    Dubai racecourse deal scrapped
  2. georgihh

    georgihh New Member

    They are looking for a cheap builder to carry on – looks like they run out of cash
  3. naxal

    naxal New Member

    Nobody can imagine the extent of my happiness when I read this .
    The govt (Meydan) has now tasted the bitterness of their own medicine ...... while all this while the expats were swallowing loads of bitterness !!!
  4. georgihh

    georgihh New Member

    They will bring Chinese contractor to carry on with the project. That’s mean they cannot find cheep contractor in Dubai. The prices will go further down as the market will be flooded with cheap stuff. I expect 300- 400 DHS per sqft in Dubai in the near future for off plan
  5. pisandre

    pisandre New Member

    I guess you meant 300 - 400 RMB. :D
  6. georgihh

    georgihh New Member

    No i meant - Zim $
  7. shazy

    shazy New Member

    so is this the racecourse that they were going to build in JV?
  8. georgihh

    georgihh New Member

    I don’t understand how people can spend millions in Dubai and have no idea what is going on.
    It is more likely to see a racecourse built on top of Burj Al Arab than in JV
  9. DelboyG

    DelboyG New Member

    Now you should understand how the prices have reached these heights...

    Developer / agents / crooks have had xmas every day for years in Dubai, the land where dreams come true, now lets see who will pay for all those presents?
  10. shazy

    shazy New Member

    georgihh sorry but yes there are many who have invested lots of money but don't have any idea thats why their in this site !!!!!!:mad::(:mad:
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