West Edmonton Mall

[rabi_sultan]

is it true that Mohammad Al Fayed the egyptian billionaire funded its development?

if so anybody know why he picked Edmonton?

[gpearson1968]

Originally Posted by rabi_sultan

is it true that Mohammad Al Fayed the egyptian billionaire funded its development?

if so anybody know why he picked Edmonton?

Growing up in the Edmonton area before, during, and after WEM, I was always under the impression that the Ghermezian brothers were solely responsible for WEM, then the Mall of America, then some big 'ol mall in Germany, that's supposed to be th e size of a small town.

But what do I know ?

Geoff.

[theoil]

Originally Posted by gpearson1968

Growing up in the Edmonton area before, during, and after WEM, I was always under the impression that the Ghermezian brothers were solely responsible for WEM, then the Mall of America, then some big 'ol mall in Germany, that's supposed to be th e size of a small town.

But what do I know ?

Geoff.

Apparently you know everything since it is true although I didn't know about Germany. Mostly they are dobling the size of Las Vegas every 18 months these days from what I know. They chose Edmonton because they liked the city to live in. They live a couple of blocks from me.

[barto]

Originally Posted by rabi_sultan

is it true that Mohammad Al Fayed the egyptian billionaire funded its development?

if so anybody know why he picked Edmonton?

Where did you hear this, Rabi? I've lived in Edmonton for 17 years now and had never heard of this connection, although I've never tried to find out where the Ghermezians got all their money to develop WEM...

Bart

[Digger12]

I always heard it was the Ghermezians as well.

Too bad they never showed any interest in the Oilers (as far as I know).

[Allan]

I don't know where the money come from, but it may not have been on the level. There was the whole bribing the provincial bank's management for refinancing thing in 1994.

http://www.wave-report.com/1998%20Wa...l#anchor223294

[theoil]

Originally Posted by barto

, although I've never tried to find out where the Ghermezians got all their money to develop WEM...

Bart

Iran, before the regime change.

[barto]

Originally Posted by theoil

Iran, before the regime change.

Ummm...what do you mean by "Iran"? I understand that's where they're from, but did Iran (government? Shah?) just give them money?

Thanks for any elaboration on that you can provide.

Bart

[rabi_sultan]

the Al Fayed connection thing was I *heard* (so it may not be true) that his brother was involved in it and so he was to although this may not be true.

Reason i was asking was why couldnt they fund the Oilers then we'd have deep pockets

[barto]

Originally Posted by rabi_sultan

the Al Fayed connection thing was I *heard* (so it may not be true) that his brother was involved in it and so he was to although this may not be true.

Reason i was asking was why couldnt they fund the Oilers then we'd have deep pockets

Heh. Well, I'm still curious about where you *heard* that, but in any case, WEM was built in...what, 1984-1985 ish? And at that time, Pocklington had a very solid grasp on the team, so I doubt it was for sale or that whoever else would have seriously thought of offering up big bucks for it.

Just pray for a good CBA and we'll be fine here, Rabi...!

Bart

[theoil]

Originally Posted by barto

Ummm...what do you mean by "Iran"? I understand that's where they're from, but did Iran (government? Shah?) just give them money?

Thanks for any elaboration on that you can provide.

Bart

Sorry, I don't know anything but what is public. They were very rich in Iran and got out with the money before the shah was removed. I know they own a number of smaller houses in the area that they rent to other Iranian Jews who did not have their kind of money. They tend to stay to themselves so even though I have several neighbours like that they don't talk about the Ghermezians.

As for Allen's suspicion that the money may not be on the level how would that be different than any fortune you can name. At some point somebody always did something to get it. But it was done long before they got to Alberta. The '94 refinancing was because they were spending so much money building elsewhere and they wanted to pull some out of WEM to finance expansion. Whether or not they did it according to the bank's set of rules is a big discussion but nobody has proven anything to date that I am aware of.