In my last post I've tried to figure out reasons for lack of serious investment in this very appealing enterprise, and apart from Jeff72, no one bothered to give any additional suggestion. I admit it is easier to wine and moan than try and analyse situation we are all in.

I will carry on regardless. Someone may join.

My understanding is that the management is taking very unorthodox approach to finance this project . The idea is  based on stock market logic. People who believe the shares will rise will simply buy into it. It indeed produced great results in the beginning, and the project was successfully financed until recently. However, to a great surprise for all of us, nothing (almost nothing) happened with shares when the DA was signed, and nothing happened when the land was officially valued at around $700mil.  According to some of calculations found in this forum, shares should be much more than $10 at the moment?!

My only logic is that pure belief that taking into account value of the land, Government support  (DA), and presence of a very special shareholder on board, may be good enough for you and me, but not for the large investor.

I may be totally wrong, but in Real Estate profit mostly comes from  constructing and selling/renting/leasing properties  built on a piece of land. Some profit is based on speculation as well, but we are supposed to be beyond that point at the moment. That is the reason investors would ideally like to see detailed plans linked to financial construction. Apartments are usually sold (sometime in advance, based on detailed plans), hotels are given to operators (sometime even financed by them), offices and retail are usually leased and so on. If, because of The Wave, Omani foreign policy, current demand, or anything else, we have to build significantly lower (or larger) number of apartments, the entire investment-profit ratio is going to change. I am not suggesting detailed plans and costing for every individual building or feature at this stage (very expensive and not needed), but updated master plan, concept design and marketing material linked to updated facts and figures will be a minimum.

There are, in my view three scenarios

1. A large investor is attracted with  whatever is Omagine offering at the moment (low share prices in particular). He offers certain amount of money, hoping the shares will go up in the near future, regardless of the site content (it is apparently going to change anyway).

2. Management somehow organises funding for the up to date feasibility study with facts and figures, master plan, concept design and marketing material, appealing enough to attract serious investment.

3. Bring a large developer immediately (whatever the cost in terms of shares), who will take old fashioned Real Estate approach, and finance, build and sell/lease the entire project.

Any other suggestions?