Dubai racecourse deal scrapped

[samsaf]

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

 

[georgihh]

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

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

 

[naxal]

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 !!!

 

[georgihh]

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

 

[pisandre]

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

I guess you meant 300 - 400 RMB.

 

[georgihh]

I guess you meant 300 - 400 RMB.

No i meant - Zim $

 

[shazy]

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

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

 

[georgihh]

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

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

 

[DelboyG]

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

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?

 

[shazy]

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

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 !!!!!!