Waterford North Quays

Wanderer78

Muttley79 wrote: »

This could turn out our very own Lyle lanley(monorail) forgot to put the money where his mouth is!!
However it does say that American investors are very interested in it also

i wouldnt say its forgetfulness, the tide is turning very quickly, in regards foreign investments and property, people have had enough, and rightfully so, we have to dramatically change the way we deal with such investors, we need them, but we also need them to not behave as predatory and parasitic as they do.

falcon have further development plans in the region, they have probably already bought land to do so, this land has more than likely risen in value since purchasing, but virtually nothing actually exists on this land yet, this madness has to be stopped, we cannot take on even more debts to fulfill our critical property needs

SeanieW1977

What say you mary butler Adam wyse Eddie mulligan & John cummins?

Ye had yere heads stuck to the posters with €110.6million for the south east & how ye are delivering for Waterford.

Who actually did the due diligence to look into the fact Cass and falcon are shysters?

Falcon one employee in Ireland - Cass

Someone needs to fall on a political sword here - cummins in particular - there has been 5 years of political capital (half a decade) wasted on this.

What would WIT do with €110.6m? Be a fully fledged university.

This is before we mention how much money & time the council have wasted on this.

Local media won’t touch it, usual sensationalist Skelton will avoid it like the plague simply because he was in bed with Cass etc all along. Hence why he’s getting such a free ride.

Nobody stopped to ask WTF is going on here? Why saudis are investing in waterford and not cork or Dublin!

That’s if the Saudi’s existed at all? Did we ever see them? Or get names or quotes? A bit like keyzer soze

BBM77

Muttley79 wrote: »

This could turn out our very own Lyle lanley(monorail) forgot to put the money where his mouth is!!
However it does say that American investors are very interested in it also

I know a lot of people just want to turn this forum into doom & gloom central. To me though it is great news that the redevelopment of the north quays is not even dependent on Falcon. There are other developers waiting to jump in.

Wanderer78

SeanieW1977 wrote: »

What say you mary butler Adam wyse Eddie mulligan & John cummins?

Ye had yere heads stuck to the posters with €110.6million for the south east & how ye are delivering for Waterford.

Who actually did the due diligence to look into the fact Cass and falcon are shysters?

Falcon one employee in Ireland - Cass

Someone needs to fall on a political sword here - cummins in particular - there has been 5 years of political capital (half a decade) wasted on this.

What would WIT do with €110.6m? Be a fully fledged university.

This is before we mention how much money & time the council have wasted on this.

Local media won’t touch it, usual sensationalist Skelton will avoid it like the plague simply because he was in bed with Cass etc all along. Hence why he’s getting such a free ride.

Nobody stopped to ask WTF is going on here? Why saudis are investing in waterford and not cork or Dublin!

That’s if the Saudi’s existed at all? Did we ever see them? Or get names or quotes? A bit like keyzer soze

oh id say the saudi's exist alright, it look's like their economy is in a spot of bother, for obvious reasons, and i suspect theyre looking for other markets to divest into, its (not so) funny they have chosen to do so into other highly extractive sectors, i.e. property and land, whereby we pick up the pieces after the fact! it also looks like theyre trying to develop their tourism sector, so theyre probably trying to also create such relationships and contacts.

SeanieW1977

Wanderer78 wrote: »

oh id say the saudi's exist alright, it look's like their economy is in a spot of bother, for obvious reasons, and i suspect theyre looking for other markets to divest into, its (not so) funny they have chosen to do so into other highly extractive sectors, i.e. property and land, whereby we pick up the pieces after the fact! it also looks like theyre trying to develop their tourism sector, so theyre probably trying to also create such relationships and contacts.

In the 5-6 years this is rumbling on - do we have a name or photo of one of them?

Or even a quote directly?

Or is it all funneled through Lyle Langley - I mean Rob Cass?

Wanderer78

SeanieW1977 wrote: »

In the 5-6 years this is rumbling on - do we have a name or photo of one of them?

Or even a quote directly?

Or is it all funneled through Lyle Langley - I mean Rob Cass?

a lot of these investors are virtually faceless, like many other investors already operating in the country, as theyre basically large corporations, or an accumulation of investors. theres probably loads of funds behind this, i still suspect pension funds, but ive no proof of this, as their identity would be deemed 'commercially sensitive', so its kinna difficult to get a quote as such. but some sort of identification would be nice, so we know what we re dealing with, but with the current rising tensions in regards such funds, i wouldnt expect that to occur anytime soon.

i take cass's position as being more of a marketing role for these investors, the money itself may not be touching falcons books at all, but if my suspicions above are correct, falcon are making a tidy sum in all of this, mainly from speculation, but of course, i could be completely wrong

dzilla

Mary Butler is on air now on DT, haven't mentioned NQ yet.

SeanieW1977

Wanderer78 wrote: »

a lot of these investors are virtually faceless, like many other investors already operating in the country, as theyre basically large corporations, or an accumulation of investors. theres probably loads of funds behind this, i still suspect pension funds, but ive no proof of this, as their identity would be deemed 'commercially sensitive', so its kinna difficult to get a quote as such. but some sort of identification would be nice, so we know what we re dealing with, but with the current rising tensions in regards such funds, i wouldnt expect that to occur anytime soon.

i take cass's position as being more of a marketing role for these investors, the money itself may not be touching falcons books at all, but if my suspicions above are correct, falcon are making a tidy sum in all of this, mainly from speculation, but of course, i could be completely wrong

Al Hokair group aren’t backed by a pension fund?

They are on the go 50 years under Sheikh Abdulmohsin Alhokair?

Aren’t these the crowd Cass is meant to be representing? Or at least AH back Falcon, Falcon = Cass do NQ?

mayordenis

I would have thought it was more a sovereign wealth fund than a pension fund, but the lines are fairly blurry on some of these things.

Wanderer78

SeanieW1977 wrote: »

Al Hokair group aren’t backed by a pension fund?

They are on the go 50 years under Sheikh Abdulmohsin Alhokair?

Aren’t these the crowd Cass is meant to be representing? Or at least AH back Falcon, Falcon = Cass do NQ?

these type of developments are commonly backed by pension funds, the accommodation element of the project has me questioning and speculating that this is the case here, but as said, i could be completely wrong. cass has refused to answer who or what bought the apartments off plans in the past, but you can be damn sure, its someone or something backed by a lot of money, or access to it. eddie mulligan, asked cass online who these investors are, but cass deemed it 'commercially sensitive' to provide their identity, i havent followed this up since, so im unsure if this has already been revealed, i apologies if this is the case.

other than that, yup i believe you are correct with the other investors names

Wanderer78

mayordenis wrote: »

I would have thought it was more a sovereign wealth fund than a pension fund, but the lines are fairly blurry on some of these things.

it could very well be, but as you said, we dont actually know, we re not privy to the info, but the fact its not being presented to us in a more transparent way....

914

If Falcon walk and another investor walks in I presume they may have a different plan for the area and we're back to plans etc, so much further delays

mayordenis

914 wrote: »

If Falcon walk and another investor walks in I presume they may have a different plan for the area and we're back to plans etc, so much further delays

I'd have to assume so, and obviously have no idea of the ins and outs but would guess that falcon own the current plans anyway.

It's been mentioned before but my position would be that once the infrastructure work gets done I'm not too fussed about whether some developer makes a quick buck or not on some retail and offices. There's an infinite amount of ways to skin that cat.

SeanieW1977

Do we know for sure the area can support the structures etc?

My understanding is the basic remedial works and engineering sign offs aren’t in place (and there are significant concerns around same)

Love to see the TDs and our senator explain their way out of this one.

Oscar Madison

dzilla wrote: »

Mary Butler is on air now on DT, haven't mentioned NQ yet.

He was told not to I'll wager!

What a joke of a presenter!

Harry Palmr

Maybe WLR are waiting rather than speculating given the nature of the deadline with is Saturday so hardly long to wait. Or they could be doing some work of their own on this story and it could be featured between Wed and Fri.

Aquos76

SeanieW1977 wrote: »

In the 5-6 years this is rumbling on - do we have a name or photo of one of them?

Or even a quote directly?

Or is it all funneled through Lyle Langley - I mean Rob Cass?

Just for clarity, the story of the Arabs involvement on the NQ project was broken on the 20th March 2017, which is just over 4 years and not 5/6 years as suggested by yourself, in fairness, its an easy mistake to make as its seems like its been going on for years longer.

SeanieW1977 wrote: »

What say you mary butler Adam wyse Eddie mulligan & John cummins?

Ye had yere heads stuck to the posters with €110.6million for the south east & how ye are delivering for Waterford.

Who actually did the due diligence to look into the fact Cass and falcon are shysters?

Falcon one employee in Ireland - Cass

Someone needs to fall on a political sword here - cummins in particular - there has been 5 years of political capital (half a decade) wasted on this.

What would WIT do with €110.6m? Be a fully fledged university.

This is before we mention how much money & time the council have wasted on this.

Local media won’t touch it, usual sensationalist Skelton will avoid it like the plague simply because he was in bed with Cass etc all along. Hence why he’s getting such a free ride.

Nobody stopped to ask WTF is going on here? Why saudis are investing in waterford and not cork or Dublin!

That’s if the Saudi’s existed at all? Did we ever see them? Or get names or quotes? A bit like keyzer soze

Did you by any chance read the News and Star piece today before you posted, or are you only basing your attack on the front page headline. I can assure you that 'Skelton' as you referred to him as is certainly not in bed with Cass.

Wanderer78

mayordenis wrote:

It's been mentioned before but my position would be that once the infrastructure work gets done I'm not too fussed about whether some developer makes a quick buck or not on some retail and offices. There's an infinite amount of ways to skin that cat.

The infrastructure will be fantastic to have, particularly the rail works, but ideally the whole lot gets done, to make it all worth it. we can't keep encouraging property and land speculation though, it's destroying markets for everyone, particularly for younger generations

Pete_Cavan

Wanderer78 wrote: »

i take cass's position as being more of a marketing role for these investors, the money itself may not be touching falcons books at all, but if my suspicions above are correct, falcon are making a tidy sum in all of this, mainly from speculation, but of course, i could be completely wrong

But they haven't yet bought the land right, the deadline is for signing contracts to purchase? How does one make a tidy sum from "speculation" without buying the asset?

Wanderer78

Pete_Cavan wrote:

But they haven't yet bought the land right, the deadline is for signing contracts to purchase? How does one make a tidy sum from "speculation" without buying the asset?

The mere existence of the project on paper is helping to drive up property and land prices in the region, so if falcon already have other projects on the go in the region, win win. I know they have plans for other projects, but I've no idea at what stage they are at, if anyone knows?

Pete_Cavan

Wanderer78 wrote: »

The mere existence of the project on paper is helping to drive up property and land prices in the region, so if falcon already have other projects on the go in the region, win win. I know they have plans for other projects, but I've no idea at what stage they are at, if anyone knows?

So unless they have sold these other lands by this weekend, they won't have made any money because the value which depended on them buying NQ will be gone?

Wanderer78

Pete_Cavan wrote:

So unless they have sold these other lands by this weekend, they won't have made any money because the value which depended on them buying NQ will be gone?

It's important to realise the bigger danger with this behaviour, it tends to push up all property and land prices in the region, this does great harm to the whole market in the region. Property prices have risen by 12% in the region in the last year, this isn't wholy due to the serious lack of supply, an element has in fact been due to speculation, we cannot sustain this level of increase, its just locking younger generations out of markets

Pete_Cavan

Wanderer78 wrote: »

It's important to realise the bigger danger with this behaviour, it tends to push up all property and land prices in the region, this does great harm to the whole market in the region. Property prices have risen by 12% in the region in the last year, this isn't wholy due to the serious lack of supply, an element has in fact been due to speculation, we cannot sustain this level of increase, its just locking younger generations out of markets

I seriously doubt anyone was buying a house in Waterford on the basis that the NQ development might happen at some stage. Property prices are rising in many places because demand outstrips supply. I still don't see how Falcon has made any money by dancing around the NQ for four years.

SeanieW1977

Wanderer78 wrote: »

The mere existence of the project on paper is helping to drive up property and land prices in the region, so if falcon already have other projects on the go in the region, win win. I know they have plans for other projects, but I've no idea at what stage they are at, if anyone knows?

Are they involved in kilbarry?

There was a big furore at time of NQ that Rob Cass came out saying he was developing a couple of hundred houses there? Himself and John cummins were in the media!

Re NQ / Arabs this thread itself is 17 years old so excuse me if was 1 out on my assumption!

Also I see over last few Darren Skelton was on video calls with the US developer Boomza or whatever they were called, he is as much to blame as the rest of us, nobody bar a few dissenting voices asked is this too good to be true and really questioned the gravitas of Cass / Falcon.

I can’t accept in 4 years they were incapable of getting so much as a brick laid.

Our local political people Councillor’s to TDs have a lot to answer for too, my issue is we will be waiting a long time for that level of scrutiny from local media.

If this fails as it did with the university & everything else we are doomed for another generation

Asdfgh2020

Pete_Cavan wrote: »

I seriously doubt anyone was buying a house in Waterford on the basis that the NQ development might happen at some stage. Property prices are rising in many places because demand outstrips supply. I still don't see how Falcon has made any money by dancing around the NQ for four years.

Some very sensible points there......as you say if these developer guys don’t own the lands then how can they profit anything from merely drawing up plans and fancy presentations.......one would have to ‘wander’ about the intellect of some of those posting on this thread....?

Harry Palmr

Harry Palmr wrote: »

Maybe WLR are waiting rather than speculating given the nature of the deadline with is Saturday so hardly long to wait. Or they could be doing some work of their own on this story and it could be featured between Wed and Fri.

On the other hand they could just do a shoutout!

https://twitter.com/damienwlr/status/1392182037474328578

tbayers

Between the latest ERSI report stating that the younger generation are the first to be less well off than their previous generation, the shambles that is the TUSE, and now the NQ, there is no hope for the younger generation here in Waterford. Can see plenty wanting to emigrate sooner rather than later.

hardybuck

tbayers wrote: »

Between the latest ERSI report stating that the younger generation are the first to be less well off than their previous generation, the shambles that is the TUSE, and now the NQ, there is no hope for the younger generation here in Waterford. Can see plenty wanting to emigrate sooner rather than later.

On the contrary, population of Waterford will probably grow by 10-20% in the next 20 years.

tbayers

hardybuck wrote: »

On the contrary, population of Waterford will probably grow by 10-20% in the next 20 years.

What money will these people have to spend on property/rent if we are constantly being left behind. Where will these people educate themselves if courses move to other campuses in SE? Waterford is being left behind. If population grows its just feeding the emigration train down the line

hardybuck

The lad Cass talks some amount of nonsense in fairness.

I hope he gets this done because he's put his neck on the block. However I suspect he's preparing another stat attack and more mud slinging towards the Government to deflect responsibility away from Falcon.