It will probably take over a year maybe 2 for everything to be built back up. Wide stretch of area destroyed. The economic impact will be felt for a while. That’s what people think these estimates are about what’s immediately lost it’s the economic impact this will have for an extended period of time
OPINION Mayor of Hargeisa says “$2 billion was lost in the market fire”. To me that’s just exaggeration
- Thread starter Grigori Rasputin
- Start date
Woke1.4rm.Shibis
VIP
Prayers for the bussinese ppl of reer hargeisa
Inshallah they come back stronger .
They can take this tragedy as a lesson and to make their building code better .
Most of the fire that destroys bussineses and homes in the south are usually started from cheap chinese electric wires.
@SomaliRealist did they found out how the fire started ?
Inshallah they come back stronger .
They can take this tragedy as a lesson and to make their building code better .
Most of the fire that destroys bussineses and homes in the south are usually started from cheap chinese electric wires.
@SomaliRealist did they found out how the fire started ?
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Im willing to say anywhere up to $100 million in damage is believable as people hold assets, gold and other valuables.
The combined value of Berbera, Mogadishu, Bosasso, Kismaayo and Garacad seaports aren’t even a billion.
Who said that’s the combined value of berbera and Mogadishu ports ? Are you wrongfully assuming berbera’s upgrade cost is it’s value and not it’s output potential ? Think again. The small ports of bosaso kismayo and garacad maybe. Bacadlaha generates more business in a given year than those 3 small ports and bacadlaha wasn’t the only place that was burned. The area that burned is larger than garacad tuulo in total forget just the port
2000+ businesses destroyed in bacadlayaasha alones then you have to add everything outside of that. Buildings with other business and masjids gone. Infrastructure damage. The projections include the asset loss and revenue loss for about the 2 year period it’s going to take to build everything back up
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Berbera port is worth 300 million max.
If every store in the market was worth a million dollars then I understand the $2 billion dollar price tag, but you’re not going to seriously argue that right??
The upgrade alone was just under $500 million already with plans for an additional $400 million investment. In total the berbera port project will be $900 million. Go educate yourself before you talk kid. Reminding you the damage area was much greater than bacadlayaasha which lost 2000 business there alone. It was an area bigger than your tuulo. Also this is a 2 year projection because it will take about 1-2 years to build everything back. It’s the loss during the whole time
Article from last year about the additional 400 million+ investment coming on top of the $442 million they already spent
And berbera ports value already is definitely 1-2 billion already . Soon it will be worth in the $10 billion range after about 10 years of successful operation
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Is Berbera port worth 1 billion now?
No, it isn’t. When it is then your point is valid.
Simple mathematics can easily solve our dillemma. Let’s assume the market and its 2000 stores accounted for half of the 1 billion dollar damage. As you said the damage area was larger than the market.
500,000,000/2000 = 250,000K
Your claim at the very least is that each store in that market is worth a quarter of a million dollars.
Inb4 you say other areas were damaged or it was not just the market, I already adjusted for that quite generously.
Therefore, I would suggest a return to basic mathematics.
It’s definitely worth right around $1 billion right now more than the $300 million you claimed which shows how out of touch with reality you are
Again your mathematics is off because you’re assuming every business was equal. And also forgetting the number of cash and valuables kept on safes there. Random mathematic figure that’s not based in reality just like your estimate saying berbera port is only worth $300 million. The ignorance is astounding
And for the last time. The area that was burned is much larger than bacadlaha market which is the 2000 businesses I referenced above. That’s just bacadlayaasha alone
all the infrastructure damage such as electricity and other cabling that have to be replaced. Property damage as well in an area that’s larger than the tuulo you come from as well and the damages are counting for the businesses losses incurred over the next 2 years which is about the time it will take to rebuild fully
You’ve already shown your ignorance and out of touch with reality sentiments. You don’t even know 5% of what you’re talking about. Have some shame and keep quiet
@Dharbaaxo Jin @0117 please tell me that you do not genuinely think there was $1 billion in damages.
Don’t get me wrong, I believe the damage has been underestimated as there are a lot of gold and cash assets people had stored but a billion is too big a number.
Don’t get me wrong, I believe the damage has been underestimated as there are a lot of gold and cash assets people had stored but a billion is too big a number.
No one cares what a bunch of ignorant random people with little knowledge on a forum thinks LMAO this is real life kid
bruh why are you asking questions you already know the answer too?
Grigori Rasputin
Former Somali Minister of Mismanagement & Misinfo.
Staff Member
Wariyaha SomaliSpot
mice tried to reason @SomaliRealist -unrealist-unhinged fella.
$2b is just a number for him.
Does he even know that the population of SL is 4m with no industry.
The so called government (high school student run governments in the west are managed 1 million times better) has no choice but to compensate every single business. This happened due to their incompetence and poor planning (fire safety, building codes, very few firefighters) and no insurance available. If they don't, no one from the diaspora will invest again.
I heard the damage of the fire is being estimated to $200 million USD.
bruh why are you asking questions you already know the answer too?
I just need to know that other landers don’t co-sign with this belief.
I need this for my sanity.
That’s reasonable. Makes sense.
In the mall of America, they only keep a small portion of their products and the rest is stored in warehouses. So when the shop is getting out of the stuff they have, they order it to be replenished from the warehouses. In this case, if the shop or mall is burned, the damage is kept to a minimum.
In Hargeisa and other Somali malls, the stores don't maintain warehouses. They have everything in the stores, including jewellery and hard currency. So when the Waaheen market was burned, most of the stuff was burned to the ground.
But it wasn't only the market that was burned; the nearby downtown buildings were also burned. And this makes the damage much bigger than what it would be like if the Mall of America found itself in similar fate.
I talked to people in Hargeisa yesterday. They gave me that figure.
I’m in hargeisa right now wallahi. That’s a complete lie.
4cryingoutloud
Puntland republic 🇸🇱
To much khat chewing does that to you
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