Friday, November 24, 2006

Infinity Tower got International Property Award

Infinity Tower has won an award in the 'Best Architecture' category in the International Property Awards in London. International Property Award is considered as the most prestigious award in the property world.

Earlier, Infinity Tower bagged awards for the 'Best Development, Dubai' and 'Best Architecture', 'Multiple Units, Dubai', 'Best Developer Website, Dubai' for and 'Best Property Marketing, Dubai' categories in the Arabian Property Awards.

Infinity Tower is a 80-storied building at 330 metres and has the highest twisting tower in the world. It offers one to four bedroom residential apartments with duplexes and penthouses on the higher levels. Street level has a designated shopping and retail outlets for both residents and visitors.

Every Infinity apartment has contemporary internationally styled interiors with marble and wood finishes, and premium fixtures and fittings. It has high-speed Internet and access to digital/satellite TV, state-of-the-art air conditioning, and a comprehensive automation system to control lights, air-conditioning and other functions from a central handset.

The building includes a fully landscaped podium with a rooftop park, outdoor infinity pool, whirlpool and children's pool, located on the seventh floor. Other amenities include a health spa with treatment rooms, a gymnasium, conference rooms, cigar lounge, a fully-equipped nursery, an outdoor tennis court and a fully enclosed parking garage with state-of-the-art security.

Plaza Mayor launched

Makaseb, Ishraqah and Ta’sees announced the joint venture project of Dh3bn worth 'Plaza Mayor'. The joint venture agreement was signed by Hisham Abdul Ghani, Founder of Makaseb Holding Ltd., Hesham El Far, CEO, Ishraqah and Saad Ibrahim Al Moosa, President of Ta’sees.

The Plaza Mayor is situated in Jumeirah Village. It is inspired by its Spanish namesake and will cater to local sensibilities by absorbing UAE market preferences. The Plaza Mayor is expected to cover approximately 3 million square feet of built up area, with a ground surface area of over half a million square feet.

The towers will offer parking and retail level with a premium 4-storey hotel with 80 five-star rooms. The towers will have 45 levels of premium office space. The Plaza Mayor project is expected to act as a key commerce and tourism driver on completion.

Thursday, November 23, 2006

Saudi enters world property stage

Saudi Arabian property developers participated at Cityscape, Dubai. The organisers of the largest international B2B real estate event are said to be surprised by the Saudi Arabia's response.

Cityscape 2005 had 1,200 square metres of space booked by Saudi companies. This year the figure it has gone up to 2,500 square metres, with around twenty major Saudi companies.

Cityscape Dubai is held at the Dubai International Exhibition Centre. It will be held on December 4 to 6 2006.

The Saudi government has promised to provide every Saudi citizen with a home. The Saudi government has also revealed plans to upgrade and expand the country's electricity network and water supplies, the construction of which will cost an approximately around $700 million.

Abyaar appoints Pulse Holdings

Kuwait's Abyaar Real Estate Development has appointed Pulse Holdings to drive develop all commercial, hospitality and retail outlets.

Pulse will activate Abyaar's Dubai Marina apartment towers which will be followed by a further major development to be launched at this year's Cityscape. Pulse was chosen for its proven retailing expertise at the luxury end of the market.

With previous experience of placing prestigious brands in the most successful mixed-use projects in Dubai, including Emirates Towers and Souk Madinat Jumeirah, Pulse understands the needs and expectations of consumers, developers and retailers.

Pulse revealed that the Abyaar contract involved maintaining the company's key differentiators through profiling the retail mix to meet stakeholders' exacting demands.

Sama Dubai supports launch of ECAT

Sama Dubai took part in the Environmental Symposium on 'Challenges and Threats to the Environment - Lessons from the Past to Shape the Future', as the Strategic Sponsor. The seminar was held from November 14-15 in Dubai.

The two day event marked the official launch of the Environmental Centre for
Arab Towns (ECAT). ECAT was founded by the Arab Town Organization (ATO) in 2005. ECAT is a scientific research institute that deals with environmental issues
concerning Arab cities' natural resources.
Sama Dubai was the only real estate developer supporting the event. Sama Dubai's environmental best practices and wide ranging initiatives to ensure the conformity of its projects, operations and procedures to the highest international environmental standards were highlighted in the event.

'The Lagoons,' was a landmark development of Sama Dubai and was taken as an example for the event. The project has been designed and constructed to ensure harmonious existence with the surrounding ecosystems.

The purpose of this event was to explore innovations and developments in hazardous and non-hazardous waste management practices, discuss ideal methods for assessing environmental threats and observe the impact of environmental and health awareness programmes on reducing, reusing and recycling wastes.

TAKtical International invest in Dubai

US-based TAKtical International announced its plans to invest Dh250 million in the UAE real estate sector through its Dubai-based subsidiary, TAKtical Realty Group.

TAKtical International further added that the investments will be announced by December. Tariq Khan, founder and managing director of TAKtical International said that the affordable housing market is largely overlooked in Dubai but there is scope for such projects in other emirates of the UAE.

Home ownership in Dubai

There are many risks involved while buying a property, especially for those venturing the market for the first time.

Many buyers have been shortchanged by developers who cut corners to reduce costs.
Some developers land in deep trouble by making savings on things which cannot be seen, such as wiring and drains. The quality of construction is often hideous.

There is an oversimplification of the property market in Dubai. More importance is given to square-foot rates and the quality of construction is often neglected.

Dubai developers lack the experience of building villas in wet climates and so do not have the necessary understanding of managing rainfall.

Air conditioning of a house is a crucial factor. Cheaper-built villas will have the uglier, officestyle square ceiling vents, as opposed to less obtrusive recessed units. Each room must have its own control unit, otherwise one will end up conditioning empty rooms and running up a huge, unnecessary electricity bill. Villas with individual room controllers may be more expensive, but will help save money in the long run.

Pay attention to property service charges

Property industry is rapidly maturing. Service charges are forming an important part of any property deal. Investors are paying more attention to the sales and purchase agreements.

Service charges include the cost of maintaining a building. Most property owners living in apartments or villa compounds with shared facilities have to pay them, because it is the only manageable way to share the costs of looking after the property.

Service charges cover things like repairs, cleaning, security and shared amenities such as porters, community gardens or swimming pools. One is supposed to pay a small share of everything even if he or she does not use some of the services.

Service charges form a vital part and a clause on the same must appear in the sales and purchase agreement. Before signing any property contract, service charges should be clarified.

The agreement should state what services you are paying for, how the landlord or property manager will collect payment, how the amount is calculated, how it is divided between tenants and whether there is a 'sinking' or reserve fund.

The tenant is entitled to check whether costs are reasonable. The buyers must necessarily insist on transparency.

Lagoon Lounge opened

The Governor of Muharraq, Lagoon Bahrain opened its first on-site, customer relations centre, 'The Lagoon Lounge', on Amwaj Islands.

The centre is expected to process investor transactions of up to $120 million.
A considerable amount of business is expected to be conducted in the Lagoon Lounge over the next couple of months.

The Lagoon Lounge aims to streamline all back-office operations for sales and investor service. The Lagoon Lounge has been designed in the style of The Lagoon Bahrain.

It is now the main hub for business deals.

Tuesday, November 21, 2006

Mayadeen buys buildings in Emaar Business Park

Kuwait's National Ranges Company (Mayadeen) said it has acquired two buildings in Emaar Business Park on Sheikh Zayed Road for Dh500 million. It also announced plans to invest another Dh105m in a commercial building under construction at Dubai Healthcare City.

The company has bought three adjacent lands 1,231 square metres in the Shams Abu Dhabi development. The firm is buying real estate assets in Dubai and Abu Dhabi in order to expand in the real estate sector.

The company plans to build four high-rise towers for residential and commercial use in Shams Abu Dhabi. Construction is slated to begin early next year and is expected to end in mid-2009.

Mayadeen has bought Building No 2 and No 4 in Emaar Business Park on Sheikh Zayed Road. They are fully occupied and have a combined built-up area of 34,627sq m, and have a current rental yield of 6.2 and 8.6 per cent.

Mayadeen has contracted to buy an office building that is under construction in Dubai Healthcare City, with a built-up area of 7,523sq m, for Dh105m. It is expected to be completed by the end of this month.

Monday, November 20, 2006

Makaseb Holding invest Dh20 billion

Makaseb Holding, a regional real estate investment company, was launched here with an investment of Dh20 billion. The money is expected to touch Dh100bn over the next 10 years.

A rapid growth has been witnessed in real estate market. Makaseb has been formed with an aim to enter the real estate market by acquiring existing real estate projects and developing new ones.

Makaseb means "profit" in Arabic. It is a joint venture between AA Investment Company, a Fujairah and Ras Al Khaimah-based business, Pakistan's Rufi Group, Egypt's Sharm Land and Quattro Limited. Each company own a 25 per cent stake in the project. Makaseb aims to develop master-built communities and commercial, residential and hotel projects.

Abu Dhabi rent cap may bring down inflation

Abu Dhabi rent cap is expected to bring down the inflation across the country. Standard Chartered Bank has slashed its UAE's 2007 inflation forecast to 7.30 per cent from 9.60 per cent.

Abu Dhabi's rent cap aims to avoid cost-of-living pressures and is lower than its own forecast of an 18 per cent increase in rents next year.

Inflation is expected to fall to 7.30 per cent in 2007, down from 13.80 per cent in 2006, according to Steve Brice, regional head of research, Standard Chartered Bank. An inflation survey released in September in the GCC countries revealed that the 2005 and 2006 inflation was much higher than official estimates.

Abu Dhabi's move to cap rent increase at seven per cent in 2007 has had an impact on the inflation outlook.

Aldar properties to issue sukuk

Aldar Properties stated that it is waiting for an approval from the Ministry of Economy, to issue a sukuk, or Islamic bond and/or debentures in early 2007.

The decision to seek ministry approval for the issue and listing of a sukuk on the Abu Dhabi Stock Exchange was taken at a board meet on October 30th.

This move will give Islamic finance investors an opportunity to participate in the issue and Aldar Properties will take advantage of the current liquidity in the Islamic finance market.

Friday, November 17, 2006

Dubai Silicon Oasis to build 750 new villas

Dubai Silicon Oasis has announced to build 750 new villas at its 7.2 million square metre facility.

It will invest Dh3.5 billion in building the villas. This will include the infrastructure, landscaping, 560 villas, staff accommodation and a sewage treatment plant as well as the DSO headquarters. Construction is slated to begin early next year.

Apart from this project, DSO has approved the construction of 40 towers with a total investment of Dh2.8 billion.

DSO is Dubai government's vision to attract investment in high-tech industries, especially electronics components, semiconductors and micro-chips.

Once the project is completed, DSO will host more than 100,000 residents who can live and work within the community.

RAK Airport Tower Project launched

Tasees launched the Ras Al Khaimah's AED 1 billion Airport Towers project.

The project is situated in the Ras Al Khaimah Airport Free Zone near the RAK airport. This project aims to drive in increased commerce and tourism to the emirate and also function as a business services nexus.

Saad Ibrahim Al Moosa, President of Ta’sees; Eng. Mohammad Saleh, President of Al Aqariya Group; Oussama El Omari, CEO, Ras Al Khaimah Free Trade Zone (RAKFTZ) Authority and Eng Hisham Abdul Ghani, Chairman A&A Investment attended the launch.

The Airport Towers project comprises of 10 commercial towers with 10 floors, two tower blocks of furnished apartments, a luxury hotel and a cargo village. The park will also have a building for Rnata Travels.

The RAKFTZ is an important partner in the emirate's development, and is trying to attract further capital flows to RAK's economy.

The Airport Towers project will offer hospitality, residential, corporate and retail space in the emirate of Ras Al Khaimah.

Limitless unveils Downtown Jebel Ali

Limitless unveiled Downtown Jebel Ali, a township worth Dh70 billion township. It added that Downtown Jebel Ali will house 235,000 people.

The project is considered a massive one and is expected to be completed in phases by 2011. It will occupy an 11 kilometre land stretch covering 200 hectares with built-up area of 70 million square feet.

The project is expected to have a total of 326 buildings out of which
237 will be residential and the rest commercial. It will be divided into four quarters, each divided into three districts with business, residential, dining and retail facilities.
The project is said to be connected to Dubai with four Dubai Metro stations and an automated people mover system.

The infrastructure work is slated to be completed by 2009 while the entire project is slated for completion by 2011.

Dubai Industrial City begins Shuaib Residential Complexes

Dubai Industrial City unveiled the construction of Shuaib Residential Complexes worth DH1.6 billion accomodation complex.

Shuaib Residential Complexes is expected to conform to the highest national and international health and quality standards and will provide the most advanced labour infrastructure in the region.

The complex is proposed to have diverse leisure and recreation centers such as retail outlets, coffee shops, communication centers, cinemans, hotels, sports facilities.

Essential facilities like health clinics, banking facilities, police, fire stations, laundry and mosques will also be included in the complex.

The complex will have 87,000 beds stretching over seven plots of the industrial facility.

Ras Al Khaimah announced Yasmin Village

Ras Al Khaimah announced the launch of Yasmin Village at a press conference.

Yasmin Village is a rural residential and commercial project in Ras Al Khaimah. It has a mountain view ans is away from city life. The project has lot of open space and ideal setting with villas, apartments, office space and communtiy buildings.

Yasmin Village proposes to have rain water harvesting, chemical-free sewage treatment plant with latest biotechnology. It also has plans to use solar energy for lighting throughout the development and will use battery operated vehicles for a shuttle service for residents.

Yasmin Village will have a ring road that encircles the entire development.

Ishraqah to invest in real estate

Ishraqah announced that it will invest Dh6 billion in the next two years in real estate projects around the world.

Ishraqah has revealed plans to create distinctive developments in several markets such as Morocco, India, Pakistan and Egypt. It has said that it will follow the international real estate standards and provide distinctive projects in all the markets.

Ishraqah has already bought an Dh1.48 billion plot of land from Limitless where it will build a residential project in Jumeirah Village by the the end of this year.

Sungwon to build luxury towers in Dubai

Sungwon Corporation plans to invest over $1.2 billion in property development in the Middle East in UAE's property market over the next three years.

Sungwon plans to invest by entering an alliance with Dubai Properties. Sungwon plans to pump in the money for building unique world-class lifestyle developments at Business Bay and Culture Village. Sungwon also plans to build luxury towers in Dubai.

Sungwon is one of the large integrated real estate, construction and engineering company of South Korea that has built many luxury high-rise residential/mixed use complexes.

Sungwon is known for its high rise mixed-use complexes, civil works, environmental plants and special projects, including championship golf courses, world class stadia and resorts. In 2005, Sungwon has built 52 commercial and residential projects so far.

Daffa International, Middle East Real Estate form JV

Grubb & Ellis/Gulf States Realty Advisors has been set up in order to provide real estate services to Qatar and the Gulf region.

Grubb&Ellis/Gulf States Realty Advisors is a joint venture company between Daffa International Company and Middle East Real Estate Services.

Daffa International will hold 51 per cent stake while Middle East Real Estate Services will have the remaining 49 per cent.

The tie-up is an effort to boost Qatar's real estate sector.

Maximus Group begins Silicon Oasis project

Maximus Group has begun work on two of its debut ventures at Silicon Oasis in Dubai, The Dunes and The Apricot. The project are worth Dh360 million.

The Dunes will offer apartments with balconies, terraces and gardens and other leisure facilities while the Apricot will offer premium open office spaces of the highest specification.

The projects are slated to be completed in the first quarter of 2008. Larsen & Toubro, India's largest contractors have been signed to build the project.

Hilton comes up with first residence in Dubai

Hilton Hotels has unveiled its plans of first residence property in Dubai. The hotel chain plans to build a 371-apartment Hilton Jumeirah Beach Residence in September next year.

A.A Al Moosa Enterprises owns the project and Hilton International will manage the same. The project will be located near the golden sandy beaches of the Dubai Jumeirah strip, and proposes to offer a home away for Dubai residents. It is said to offer a complete lifestyle experience for the residents. The Hilton Jumeirah Beach Residence is aimed to be a premier place for leisure and business travellers.

The tower will be 44-storied and will feature a blend of Arabesque and Mediterranean design elements. There will be one-bedroom to four bedroom apartment types, including five loft and two penthouse apartments.

Wednesday, November 15, 2006

Bando Construction to invest in UAE

South Korean property developer Bando Construction and Engineering has revealed plans to invest in UAE's real estate projects next year. It said it will invest approximately $1 billion.

The company added that it plans to unveil many new developments including retail, commercial and residential units.

Bando Construction and Engineering is a 30-year-old company which has more than 280 professionals working in Korea. It builds approximately around 2,000 apartments every year and has a sales turnover of more than Dh1.83 billion in South Korea.

Bando’s Chairman Hong-Sa Kwon said, 'We aim to establish our hold here, but are also considering opportunities throughout the region.'

British top UAE's real estate investors list

AC Nielsen report revealed that British migrants invest the most in Dubai's real estate sector. They invest to find appropriate opportunities in the UAE, especially in Dubai and eye property related deals.

AC Nielsen surveyed and collected data covering UAE citizens, Arab migrants, Asian migrants and those from Western regions to review the type of investment opportunities. According to the report 50 per cent planned to invest in the UAE. On the other hand, Westerners had invested the most in the UAE.

Mohammad Al Hashimi, executive chairman of Zabeel Investments, the one that commissions AC Nielsen report said, 'The results of the research are very interesting, especially those planning to stay in the UAE for a number of years.

Also, it is very clear from the migrants' hesitation that there is a serious need for clarification into the ownership and liability laws with regards to property.

Emirates Sunland holds VIP agents event

Emirates Sunland Group, the property development company gave a brief of their upcoming projects at a VIP event for Dubai’s top real estate agents.

The event was organised by Emirates Sunland Group (ESG) to give select agents a preview of three projects, including the Palazzo Versace Hotel and Condominiums to be built on Dubai’s Creek, D1, an 80 storey residential/resort apartment tower, and a master planned community in Umm Al Quwain, to be known as White Bay.

White Bay will be officially released at the end of November. Palazzo Versace Condominiums will be released on an invitation only basis and the Group has already been inundated with registrations of interest from potential purchasers.

The VIP agents’ event was held at the Fairmont Hotel. It was held with an aim to promote strong relationships between ESG and the region’s best real estate companies. Agents were invited to meet staff from ESG’s specialist design, construction and sales teams, as well as talk with Soheil Abedian, the Managing Director of Emirates Sunland Group about each of the projects.

Soheil Abedian said that, “It is important that we provide the local agents with a better understanding of who we are as a design and development company and the quality of our products – many of which have received prestigious awards.”

Emaar launches Nuran

Emaar Properties launched Nuran Al Majara Residences at Dubai Marina. It is a subsidiary of Emaar Hospitality Group LLC and offers fully-serviced residences.

‘Nuran’ is an Arabic name and means two lights, representing the sun and the moon.
Nuran Al Majara Residences at Dubai Marina has 90 fully-furnished residences fully serviced, ranging from studios to three-bedrooms. Its location offers convenient access to the Jebel Ali Free Zone, Dubai Internet City, Dubai Media City, Knowledge Village and Emirates Golf Club.

All residences are fully equipped with modern household conveniences and appliances. Recreational facilities include a complete range of health and fitness facilities within the premises.
"Nuran highlights a philosophy built on "Always" marked by pre-emptive, warm and sincere service, which is unceasingly attentive and yet appropriately discreet,” said Esther Wai, General Manager, Nuran Serviced Residences.

Dubai Properties aims residential and commercial investors

Dubai Properties aimed investors and business leaders from the Asia-Pacific region at the recently concluded first UAE-Asia Investment Forum held along with Global Entrepolis at Singapore (GES) 2006.

GES 2006 was a four-day event and had a multitude of events on connecting
businesses around the world. It is a platform where participants, delegates and
exhibitors were offered opportunities to forge partnerships, secure funding,
share expertise and network.
Dubai Properties presented investment outlooks for all of its residential and commercial master developments including Jumeirah Beach Residence, Business Bay, Culture Village and The Villa at the UAE-Asia Investment Forum.

The delegation met Singapore government officials and discussed co-operative business development strategies with chief officers and senior executives from real estate and financial institutions in the Asia Pacific region.

The master developer was the Platinum Sponsor of the event. It attracted over 15,000 visitors from over 70 countries, and provided investors with information about business expansion opportunities and investment solutions in Singapore.

Dubai Properties participation in the first UAE-Asia Investment Forum was part of its international business strategy to project the UAE as a potential market hub.

Friday, November 10, 2006

Grant Donald to visit Dubai

World-renowned landscape architect, Grant Donald will be visiting Dubai from November 30th to December 3rd to unveil new trends in the world of design and architecture at the forthcoming Dubai Ideal Home Show.
Grant Donald has more than 25 years of experience in this field and has acquired an impressive portfolio as a Landscape Architect and Educator. He has lectured on Landscape Architecture and Landscape Design in many international cities including London, Beijing, Edinburgh, Prague, Mumbai, Sydney, Hong Kong, Shanghai and Ankara.

He is currently the chairman of the International Federation of Landscape Architects (IFLA) committee for the development of Landscape Architecture in the African continent, as well as being the 1st western professional to become a member of a Chinese society of Landscape Architecture.

With an aim to educate the public and professionals worldwide on Landscape Architecture and Design, his work has been published in many journals, magazines and books in three different countries and different languages.

Grant has been associated with many of the world’s well known projects such as Disneyland, Hong Kong and 2010 world expo site in Shanghai, PRC. Grant continues to work with and educate students, design professionals, developers and government agencies to intelligently design landscapes.

ETA Star wins Property Awards

ETA Star has bagged three major CNBC Arabian Property Awards for its achievement in the real estate industry. ETA Star's The Grandeur Residences and Taj Exotica Resort & Spa, Palm Jumeirah and Hircon's 23 Marina properties have won Best Architecture awards while its corporate website www.etastar.com was nominated as the Best Developer website in UAE.

ETA Star received the awards at a glittering ceremony held at The One & Only Royal Mirage Hotel in Dubai on Saturday. The ceremony was attended by leading developers and agents from GCC. NBC Arabian Property Award was launched to differentiate the highest levels of achievement in a range of property related fields. A total of 16 awards were presented at the ceremony including Best Developer, Best Real Estate Agency, Best Property, Best Golf Development, Best Architecture, Best Interior Designer, Best Property Portal and Best Apartment.

Abid A Junaid, Executive Director, ETA Star received the award. Abid A Junaid, said, "This is a proud moment for us as two of our iconic projects have been recognized for their architectural splendour. ETA Star has built its reputation on a singular focus on quality, and it is a testament to our firm adherence to international quality standards."

Thursday, November 09, 2006

Emaar launches Old Town Island phase II

Emaar Properties, realty major have come up with the second phase of Old Town Island, Attareen in

Mizin starts Liwan Project

Mizin, Tatweer's real estate company stated that it will start infrastructure work at the 13-million sq-ft Liwan project. The project is located at the intersection of the Emirates and Al Ain roads.

Mizin Chief Executive Officer Sami Al Hashimi said, "Infrastructure work is a crucial step for the success of any project." Roadwork started on August 1 and is slated to be completed by February 2007. Plot grading started in mid-October and is also aimed to be completed by 2007.
Liwan will have 100 residential complexes with six business towers, entertainment, dining and retail areas. It aims to cater to the tourist and business needs of the region.

Property show clocks spot business of Rs 60 cr

The Indian Property Show, which brought together more than 80 real estate and financial companies from the subcontinent, saw record spot business worth Rs 60 crore and inquiries estimated at more than Rs 600 crore.

Sumansa Events, which organised the four-day event that concluded on Sat, said that the exhibition showcased 17 billion dirham worth of property from India and attracted more than 11,000 visitors. Sunil Jaiswal, CEO, Sumansa Events, said the show sought to address two factors including accurate information and direct access to real estate developers from India that would help NRI's in taking decision.

He said the Indian real estate sector is one of the hottest investment options, and rates higher than bank deposits or bonds where the return ranges between 5.55 and 6 per cent. The retail market has been growing due to higher disposable incomes, lower interest rates, easy availability of housing finance and growing salaries.

RAK Properties takes part in Extravaganza 2006

RAK Properties PJSC took part in Extravaganza, an exhibition of luxury products and services for members of the Moscow Elite. It took place at the Manege Exhibition Center in Moscow from October 26 to October 28, 2006.

RAK Properties benefited a lot from the exhibition. It answered many queries about investing in the property market in the emirate of Ras Al Khaimah. Mohamad Sultan Al Qadi, Managing Director of RAK Properties said, “There are many investors who are choosing to invest in UAE in general and RAK in particular; RAK is the upcoming place for real estate investment.”

Julfar Towers, a 43 storied twin office and residential towers was the company’s maiden project. It was worth AED 500 million and was completed in February 2006. The company’s second project was Mina Al Arab worth AED 10 Billion and was launched in May 2006.

Dubai Industrial City gets ISO certification

Dubai Industrial City has been awarded the prestigious ISO 9001:2000 certification by Lloyds Register Quality Assurance, an accredited third-party registrar of the International Organization for Standardization (ISO).

ISO 9001:2000 was awarded to Dubai Industrial City after a comprehensive audit of all its processes from an internal review of customer contracts to the final delivery of products and services.

"The ISO 9001:2000 quality standard shows the high accountability that Dubai Industrial City places on both executive management involvement and measurable quality objectives," said Khalid Al Malik, Senior Vice President of Industry and Knowledge of Tatweer.

According to the external auditors from Lloyds, Dubai Industrial City’s Management is well aware about its organisational goals and strategies. It has established short term and long term plans to achieve client-focused objectives.

DIRC to roll out of properties worth Dh2 billion

Dubai Investments Real Estate Company (DIRC), real estate hand of Dubai Investments PJSC announced the roll out of properties worth Dh2 billion. The firm added that about 70 per cent of the 2,200 housing units under Ritaj development - its first residential project at Dubai Investments Park have been sold out within a week of its launch.

Achieving 70 per cent sales for the first phase in less than a week's time, is certainly a remarkable achievement. Ritaj is a project that represents the concept of affordable luxury. The development provides a range of more than 2,200 housing units, including studios, one, two and three bedroom apartments.

CHI Development Group to award contracts for Lime Tree project

CHI Development Group will award contracts for phase 1 of the Dh500 million 121-villa Lime Tree project at Nakheel's iconic Jumeirah Golf Estates here. The project is aimed to be completed in the third quarter of 2008. The company has already bought a few plots of land in Dubai for development.

CHI has bought land parcels on Lime Tree Valley that surround part of 'Earth', the Eco-signature course designed by Greg Norman at the Jumeirah Golf Estates. All their projects are niche. They are not master or mass developers.

The villas will portray the essence of New Dubai, a luxury community living in a convenient location complete with all essential facilities. Construction has already begun on the golf course with initial earthworks and lake formation well progressed.

SunAlliance give home insurance to SGG residential projects

Star Group Global (SGG), UAE based real estate developer and Royal & SunAlliance (R&SA), world’s leading insurance providers have signed an exclusive agreement for one year free home insurance in SGG’s residential projects currently underway.

The 17-storied Yacht Bay tower and the 34- floor Royal Oceanic, both located at the prestigious Dubai Marina are the projects included under this insurance. SGG revealed this as gifting peace to the customers. SGG has developed expensive fittings and possessions in its residences.

Star Group Global has the region’s top architects, consultants and contractors involved to provide high-quality real estate projects. SGG has a 50-year history in the UAE of tailoring personal and commercial insurance solutions and Royal & SunAlliance brings both global experience and local knowledge into this innovative offer of home insurance.

Lootah real estate comes up with Shamal Terraces

Lootah Real Estate Development has announced the launch of Shamal Terraces. Shamal Terraces is a town house development representing different type of town house developments. The company has more than 6,000 workforces and has completed over 1,000 units so far. It is located in Jumeirah Village.

Each townhouse is proposed to spread across three floors with three bathrooms, occupying 4,285 square feet. High ceilings and large glass sliding doors create well-lit, spacious living areas that provide a sense of luxury and homely comfort.

Each townhouse will have state-of-the-art facilities including a high-speed internet connection in every room, intelligent home automation system with monitored access, contemporary kitchens with excellent finishes as well as a 2-car garage with remote-controlled gate.

White Bay project in Umm Al Quwain

Shaikh Abdullah Bin Rashid Al Mualla, Umm Al Quwain Deputy Ruler, and Shaikh Tariq Bin Faisal Al Qasimi, Chairman of the Emirates Investments Group LLC (EIG) have recently signed an agreement for the establishment of White Bay.

White Bay is proposed to be a master planned community and tourism resort in Umm Al Quwain. The project is worth more than Dh8 billion. It will be marketed and managed by Emirates Sunland Group (ESG). ESG is 50:50 partner of Sunland Group, an Australia based property Development Company, and UAE-based Emirates International Holdings Ltd.

White Bay is proposed to be a destination for those who would like to experience the facilities and services of a world-class resort, all in the natural environment of Umm Al Quwain.

Dheeraj East Coast to come up with 16 projects

Dheeraj East Coast (DEC), a joint venture between India’s Dheeraj Group and the East Coast Group announced the launch of 16 projects worth $1 billion (Dh3.6 billion). DEC took off with its maiden project DEC Towers which is worth Dh300 million in Emaar's Dubai Marina. It is a twin-tower with 21 and 25-storey residential area and an L-shaped retail segment on the ground floors.

The company has managed to buy plots and is developing many projects in Business Bay, Jumeirah South Village and Culture Village. In Dubai Marina alone, DEC has six plots and its investments in this community are in the range of Dh1.5 billion. The company is ready to launch a new residential project, Marina Wharf II.

In Business Bay, DEC is coming up with three commercial towers at an investment of approximately Dh800 million. The projects will include a unique corporate tower which will be developed on 650,000 square feet and will offer single unit office space as large as 3,500 square feet. The project is also proposed to have a strong retail component on the ground floors while on rooftop with a revolving restaurant.

Friday, November 03, 2006

Emaar Properties wins award

Emaar Properties has won Construction Week’s ‘Developer of the Year’ award for its adherence to build quality, aesthetics, timely delivery and evidence of intelligent master-planning. Ahmad Al Matrooshi, UAE Managing Director of Emaar Properties received the award from Grahame McCaig, General Manager and Zeyad Baker, Deputy General Manager of Dutco Balfour Beatty.

The Developer of the Year Award from Construction Week, an industry-specific publication, is a great honour in its own kind. The winners were selected by a high-profile panel of construction industry experts by consensus.

Emaar has handed more than 14,500 homes in Dubai through its various projects including the Arabian Ranches. Emaar has announced several development projects in Saudi Arabia, Syria, Egypt, Morocco, Tunisia, Turkey, India and Pakistan.

Al Futtaim to invest $3.5b in Egypt

Dubai-based Al Futtaim Group plans to invest 20 billion Egyptian pounds ($3.5 billion) to build a new residential area on 1,750 hectares of New Cairo, Egypt. Phil McArthur, managing director of Al Futtaim Group Real Estate has revealed that the project would be built on land purchased by the group in the year 1997 and would be called Cairo Festival City.

McArthur also said that the project would take seven to 10 years to be completed. Along with housing units, Cairo Festival City will feature hotels, shopping centres and recreational sites.

Dubai land sales cross Dh3bn mark

According to the Dubai Land Department, land deal transactions have touched the Dh3.09 billion mark in the month of October this year. Aim for this year is to touch Dh38bn mark by way of land deals.

In all 234 cash sales transactions worth Dh1.03bn have taken place last month. Out of which 135 were mortgage transactions which were worth Dh1.96bn and 15 were donations of land and property which were worth Dh97.48 million.

The total value of real estate has thereby risen in the year 2006 compared to that of 2005. The real estate value touched Dh17.3bn in the first half of 2005 and was estimated at Dh20.6bn in the same period this year.

Building materials cost to rise further

Building and construction materials prices are likely to go up by another 10 to 15 per cent in the next few months. Since January, the prices of building materials have gone up by at least 40 per cent. The UAE building material industry is worth Dh36.67bn and supports more than Dh638.5bn worth of projects.

Currently no decline of price is possible mainly because supply is less than the demand. The market is opting for cheaper raw materials to complete ongoing projects. In order to deal with the sky-touching prices, some builders are also opting to bring in more cost effective innovative products.

“We try not to increase prices of our building materials in a situation where prices are already touching the sky. Instead, we look for more innovative opportunities and ways of doing business,” said Ghadian Daban, the Managing Director of the Dubai-based Arab Suppliers Group, which deals in steel, aluminium, fibre glass and wood.

New Grosvenor business tower from Asam Investments

Asam Investments and Real Estate, a real estate investment and development-focused company revealed its plans to launch Grosvenor Business Tower at Dh450 million that will be located in the Tecom free zone.

International companies who seek to establish their businesses in free zones are drawn to Dubai. Free zones help customize policies and infrastructure. The tower will have a rooftop recreation zone called ‘The Unwind’ and will also have a health club and rooftop pool with sauna and steam rooms, and a retail zone.

Dubai Properties to take part in UAE-Asia Investment Forum

Dubai Properties has announced that it will participate in the first UAE-Asia Investment Forum during Global Inter policy Singapore. It said it will also discuss business development opportunities with investors in the Far East. The event is expected to attract over 15,000 visitors. It will take place from October 30 to November 3.

Dubai Properties is also the Platinum Sponsor of the five-day event, which will provide investors with information about business expansion opportunities and investment solutions in Singapore.
It aims to reach out to clients looking to capitalize on the region’s dynamic business opportunities and set new challenges for business growth.

Dubai Properties’ participation in the event will serve to strengthen Singapore and Dubai relations. Dubai Properties has been partnering with Asian counterparts in the areas of property investment and development for quite some time now.