Replies to post #96646 on Sulja Bros. Building Supplies, Ltd (SLJB)

[dustin1101]

7M net profits perhaps?

[twoggle]

The estimated cost is $674 million.
The land and financing was secured
in the Spring of 2006.

Twoggle

[FeverPitch]

LoftWerks (LFWK) Announces New Projects in the Middle East Region

WINDSOR, ON, Apr 21, 2006 (MARKET WIRE via COMTEX) -- New LoftWerks (OTC: LFWK) CEO Steve Sulja in Windsor, Ontario announces today that Consultech Construction Management Inc.'s Director General Petar Vucicevich has been in the Middle East for the past 4 days completing negotiations for the land and construction of a 280 room exclusive luxury hotel on the Al Reem Island, in Abu Dhabi, UAE.

Tracey Banumas, Director of Operations for CCMI stated that the cost of acquiring the land on Al Reem Island is $29M, cost of construction of the luxury hotel is estimated at $645M, both the land and financing for this project have been secured as of yesterday. The anticipated start date on the hotel construction will be mid 2007, and to be completed by mid 2009. Abu Dhabi, United Arab Emirates is one of the busiest and fastest growing areas in the world. Average hotel occupancy rates in Abu Dhabi are over 92%, and increasing steadily with the onset of businesses moving into the new hub of the Eurasian market.

Vucicevich states that expanding Consultech's business reach into the Middle Eastern market is gaining momentum, and further ventures and business opportunities are underway for this region.

[nickulliana]

sorry...I left off the two zero's off the ends of Sulja's 700M
and Donal Trumps 600M

[JJSeabrook]

Just another Janice Shell faux paus? Wouldn't a little DD have answered that? Nah...better to make it sound bad.

Posted by: janice shell
In reply to: nickulliana who wrote msg# 96546 Date:9/25/2006 8:53:45 PM
Post #of 96690

Consider the revenue...Sulja negotiated a deal, which includes land, to build a 280 room hotel for just under a cool 7 mil.

What the hell kind of 280 room hotel could anyone build for a mere $7 million?

And don't forget that materials, labor, permits and the like ain't free.