Nakheel Tower - Work Halted for 12 months...

[memo123]

It was all over CNBC business news that this project was scarpped

 

[loai]

things will get better

Roshan,

How much did you get it from UP? and when?

I got myself a 1 B/R directly from UP on August 2008 for 1,6M. 5% downpayment. (uptown Motorcity, foxhill)

Now, I feel ripped off as there were people who got the same unit for 1,1M at launch.. maybe even less.. No way I break-even with my mortage payment unless I rent it out for 140-150k per year... that's now a dream in the current financial situation!

things well get better next year...

 

[gohar]

Nakheel Alfurjan to be delayed

Hi,

Whilst on the subject of Nakheel projects, I have heard rumours there is to be an annoucment that the Alfurjan project will also be delayed. The developer is waiting to see the number of investors that are unable to make the forthcoming payments. The annoucement is due by the end of Jan/start of Feb. Can anyone else on this forum collaborate this story?

Thanks for quick reply.

 

[Gashead]

Not cancelled,delayed as has happened and will happen with many projects.
I dont think Dubai is desperate for this tower now that it has Burj Dubai.
Projects like Dubailand and Business Bay are far more important.

It's as good as cancelled, believe me I know several of the key consultants, they aren't expecting it to go ahead for several years if ever.