City of Arabia

[sgmasey]

Originally Posted by John Alexander

Hi George,
thanks for sending the pictures . I knew about thoses projects which were completed sometime ago and now have seen your photographs.
Myself, you George and Chiquita have worked hard on this forum posting info about MED to get the forum going as we have invested in their projects and now people who have joined later on think that I work for MED. I am surprised that no one has accused you George as you live in Dubai.

Thanks again George for always thinking positive and providing regular information on this forum.

And for those who cannot provide any positive information and intend to accuse other people I am afraid this is not the right forum for them.

As far as some one working for MED being a member of this forum is concerned I do not care much about it as it does not affect me.

So all negative thinkers please think twice before accusing the senior members of this forum as we have worked hard to keep this forum going.

Hi again John,
If you check the date I joined this forum you should have noted that it is way before you did, but out of interest what has the length of time people have been members of this forum got to do with anything, the fact that you are a "senior member" appears to have gone to your head.

In terms of "positive information", as soon as I had a reply from MED I posted the response, verbatim, for all to view and welcome anyone who does the same.
Lastly, I would describe myself as an objective thinker ,rather than a negative one, but as a senior member you probably view most other peoples contributions as negative!!

Regards

[sgmasey]

Originally Posted by John Alexander

Hi Chiquita,
If I was you I would not worry about what others say about me and you on this forum. If they cannot contribute any inforamtion about the Projects in COA then what are they doing here?

They can make their own forum with like minded people. I am sure there will be many people who will join their forum. It wont be me ,you or George for certain.

Hi John,

See now John, I could easily take this post the wrong way and interpret that this is a reference to me AND START REPLYING IN CAPITALS AND EMOTION LIKE CHIQUITA, but I know that it can't refer to me, so have a good evening.

Regards

[John Alexander]

[QUOTE=sgmasey;79547]

Originally Posted by John Alexander

Hi John,

Firstly, if you check my post #425 it clearly states that i've invested in the Winsdor Apartments.

Secondly, and apologies for repeating myself, I haven't pointed the finger at anyone, I just made the statement that anyone who believes that this forum is not being montiored by someone who works for MED, or is liasing with them, is naive. That person or persons could be anybody, did I state that John Alexander is working for MED? Did I state that Chiquita is working for MED? Did I state that you two know or work together? the answer to all these questions is no, so why are you reactig this way, let me know please i'm curious!

Regards

Enough is enough and now stop barking. From now on I will not answer any of your post to me, as I do not have to. Also I am not interested in hearing your comments about my posts.

[sgmasey]

[QUOTE=John Alexander;79553]

Originally Posted by sgmasey

Enough is enough and now stop barking. From now on I will not answer any of your post to me, as I do not have to. Also I am not interested in hearing your comments about my posts.

Hi John,

I'm not barking, I'm just objectively responding to all the negative rubbish that you and Chiquita have been posting about me, nothing offensive, just calculated and measured responses, which I'm entitled to do.

Next time, don't jump to conclusions.

Regards

[chiquita]

Ok, I will try to study email interpretations and anger management then I will give some feedback to you.

Originally Posted by sgmasey

You need to study "email interpretations" and "anger management" that way you may be able to control your emotions. I for one wouldn't want to be sat at a meeting with MED trying to negotiate, with you at the table!

Regards

[Henrico]

Two of the biggest retail houses in the region, the Landmark and Azadea groups, will operate
anchor stores in the Mall of Arabia's Phase 1, which will have a combined 4 million square feet
of gross leasable space. Phase 2 will add a further 6 million square feet to the equation.
Together, Landmark and Azadea have signed up for a total of more than 800,000 square feet of
retail space. "To have a secured commitment to such a considerable amount of GLA at this
stage shows how much confidence exists in mall of Arabia as one of the msot significant
shopping and leisure destinations in the region," said a spokesperson for the developer, I&M
Galadari Group.
Nearly 90 per cent of the leasable space abailable in Phase q has already been reserved. At full
capacity, Mall of Arabia will have more than 1,400 outlets, as well as a roof-top hotel, theme
park and a dinosaur-filled Restless Planet.
Infrastructure works are complete on the 20 million square foot City of Arabia site, while the
super-structure work will start shortly on the project's main components, including the Mall of
Arabia and the Restless Planet. There will also be a 34 high-rises and the Wadi Walk, a
waterfront community.


COA is a USD 5 billion project. Mall of arabia is 1o million sqf. Assuming the 34 high-risers will be at least 20 million sqf.
5.000.000.000 / 30.000.000 = 167usd sqf = 600 AED = project budget price pr. sqm. This figure include infrastructure etc.

With selling price of 1800 AED pr. sqf for last launched towers - no wonder galledaries are not in a rush to get started. The longer they wait the more money they will make in the long run.

[jordandvdj]

What is your point Henrico?

Galadari have sold Wadi Walk and Wadi Tower out - why not now start - it just gets more expensive for them, not cheaper.

Really i do not understand it. They have the land, they have sold the development - why delay?

It makes no commercial sense at all. Could it be that no contractors can be found?

[John Alexander]

Hi Henrico,
Galadhari will be building Mall of Arabia in two phases the first phase is due to be ready in 2010 and the second phase couple of years later. The reason behind this was that Galadhari did not wish the other mall dvelopers in Dubai to know the exact sq. ft as they intend to make this mall to be the biggest in Dubai as far as sq. footage is concerned. This is when it is completed.

[Henrico]

Hi John,
Yes its 2 phases and it will be total 10.000million sqf according to the press release on their web side. Also its stated that construction will start shortly so lets see what will happen within the next couple of month.

Hi Jordan,
I dont think it will be much more expensive to wait construction. The oil price is now down from 145 to 75 usd. The AED is getting stronger. So they can buy more steel, cement and man power now for one sold sqm than they could 6 month ago.
There is still many towers to be sold and only few towers sold out. Even they have a sales office on the construction site so for sure they are now selling to a higher price than 6 month ago.
At the end of the day I dont know the reason why its so much delay - but my guess is that we soon will see some progress on the construction site. Also more towers are adverticed in news paper now - almost everyday some page with COA towers.

[John Alexander]

I entirely agree with you Henrico that it would not be expensive for Galadhari group and other developers like Med to build in COA as they had bought the land very cheap years ago.

Also if developers in Ajman which is only 20 minutes away from Dubai can afford to sell and built apartments at around 500 Aed per sq. ft now then other developers in U.A.E can also do the same.

Yes there is some initial movement in COA and let us hope the construction starts soon.