Thursday, December 27, 2007

Swift progress of construction work at Sobha Ivory I and II

Shobha Ivory Tower
Sobha Group, the well-known Indian-based realty developer, is making swift progress with its first two commercial projects, recently launched in Dubai.

The construction work is progressing in full swing at the Sobha Ivory I and Sobha Ivory II towers at Business Bay, as the Indian realty giant continues to leave its impression in the Middle East market.

The sales of Sobha Ivory I and Ivory II real estate projects were complete within 8 months, which indicates the growing popularity of Sobha with investors and end-users. The iconic and modern business towers offer commercial and retail space that has been sold on a freehold basis.
The Vice Chairman of the Group, Ajay Rajendran, said that Sobha Ivory I and II have marked the entry of the group into Dubai, as a property developer, and that they are thrilled by the phenomenal success of the projects, which were sold in record time.

Khuyool to invest in 13 realty projects in Dubai totaling to Dh.3bn

Khuyool Investments has announced an investment of Dh.3billion in about 13 real estate projects in Dubai, revealed top officials of the company.

The Chairman of Khuyool Investments, Fahad Ali Moosa, said these include 10 projects, with five high-rise towers in Jumeirah Village South, and five mid-rise buildings. There will also be three towers being built in the Downtown Jebel Ali, as this is the beginning of a long journey.

He continued - Our first project, the Abjar Tower, with 64 storey, has received tremendous response from the market, and we are confident that the demand would continue to drive our future projects.

The company has been active in the Sharjah real estate sector for quite some time, and has just entered the Dubai market.

Strong housing demand, coupled with high oil price and massive investments in infrastructure is drawing investors to Dubai's real estate market.

Tuesday, December 25, 2007

Bavaria launches Sandoval Apartments; signs loan agreement with Mashreq

The German boutique developer, Bavaria Gulf, has announced the launch of first phase of 'Sandoval Apartments' at Jumeirah Village, which had earlier made its grand entry into Dubai realty sector through the launch of 'Sandoval Townhouses'.

The project will consist of 165 mid-range apartments with high-quality German precision, certified by TUeV, the most stringent and independent quality evaluators in the world. With seven G+4 buildings, Sandoval Apartments will include 57 studio apartments, 17 two bedroom apartments, 81 single bedroom units, and 10 special duplex apartments. These apartments, which range from 680 to 2700 Square feet, will be sold at a high value driven prick bracket.

The Managing Director of Bavaria, Raymond Lefevre, said "Our previous launch of Sandoval Townhouses, proved to be a real eye opener for us. Now, Sandoval Apartments follows suit, offering high-quality, yet, luxurious, functional and value-driven realty concepts."

Bavaria is also one of the first mid-segment realty developers in Dubai, to sign home loan agreement for all its future and existing projects with Mashreq, one of the largest private banks in the Middle East. The customers of Mashreq will benefit from customized home loan packages, apart from enjoying upto 90% on sales price for all existing and future Bavaria Gulf projects, with attractive interest rates for the next 25 years.

Mashreq will offer Bavaria customers with a variety of convenient financing options and attractive rates, apart from other benefits such as the lowest down payments, apart from providing them with the benefit of owning the property of their dreams.

Thursday, December 20, 2007

Pearl Dubai FZ LLC reveals purchase of Dh 3bn Dubai Pearl

Dubai PearlA Consortium of investors, Pearl Dubai FZ LLC, led by the Al Fahim Group, Abu Dhabi-based group, has announced that it has purchased and repositioned the $3billion worth Dubai Pearl real estate development.

The project, located within the Dubai Media and Technology Free Zone (TECOM), facing The Palm Jumeirah, will cover a built-up area of more than 15 million square feet.

Abdul Majeed Al Fahim, the Chairman of Board of Directors, Pearl Dubai, while speaking during a press conference, mentioned that Dubai is growing at an unprecedented pace, and that 'Dubai Pearl' will be a unique addition to the real estate landscape of the emirate.

Dubai Pearl is an integrated, mixed-use sustainable development with all major components located within 400 meters of each other, and is expected to be complete by December 2010.

The residential segment of Dubai Pearl Towers will include Sky Palaces with private gardens and pools, Sky Penthouses, luxury-branded condominiums and apartments. It also features boutique, offices, renowned hospitality brands, state-of-the-art theatre with a capacity for 1500 to 2000 people, a luxury fashion precinct located within a premier shopping mall, cinemas, and multi-cuisine food courts.

The construction of 'Dubai Pearl' would begin immediately. The project is considered to be unique, as the infrastructure amenities, including a well-linked road network are all in place, facilitating easy access to all major residential and commercial areas such as the Jumeirah, Dubai Internet City and Dubai Media City.

Monday, December 17, 2007

Office Rents in Dubai, Doha to surge by 20%

The office rents in Dubai, and Doha are likely to go up by 20% next year, as the demand surpasses supply, and due to the expansion of international business in the Gulf region, revealed the property services company, CB Richard Ellis.

"The top-quality offices in Dubai, cost as much as Dh.500 per square foot, and this in-turn could increase prices to Dh.600 per square feet next year, which would continue for 18 months, and thereafter the prices may probably halve to about Dh.300 per square foot in another five or six years with an increase in market supply" says Nicholas Maclean, the Managing Director, CB Richard Ellis.

However, at present, there are not enough supplies reaching the market, which would do no good to the businesses or for the government.

As far as Doha property is concerned, the demand is increasing, with an expansion in oil and gas companies, and the government is seeking new space. Although, the prices in Doha are lower than that in Dubai, the trends are the same.

On the other hand cities in India, Egypt, and Philippines are gaining advantage from the rising prices, as businesses turn to them for back-office operations, said Maclean.

The office space in Dubai is likely to more than triple touching 100 million square feet, as against the present 30million, during the next five to six years, Maclean concluded.

Waterfront Residences building contract awarded to Mammut Group

Dubai WaterfrontNakheel, the Dubai-based largest and most innovative real estate developers in the world, has awarded the first building contract for residences at Waterfront to Mammut Group, an UAE-based building and construction enterprise.

This will result in creation of first apartments and duplexes at the development, and is scheduled for completion by 2009.

Nakheel is developing an iconic portfolio of excellent landmark real estate projects in Dubai across a wide range of sectors like commercial, residential, leisure and retail. The developments of Nakheel would spread across more than 2 billion square feet of land, projected to be worth $60billion. On completion, the water front projects of Nakheel will cover about 1000 kms of Dubai's coastline.

Saturday, December 15, 2007

Al Osaimi Group launches Dh.1bn luxury resort at Palm Jumeirah

Luxury Resort in Palm Jumeirah
The Al Osaimi Group has confirmed that the construction work of the $272million (Dh.1 billion) luxury resort at The Palm Jumeirah, is progressing as scheduled, and will be ready by first quarter of 2008.

The Kuwait-based developer has taken the help of several firms for project consultancy, contracting and enabling works and project management, as this is their maiden project in the UAE. The project is located on the Crescent of The Palm Jumeirah.

During the first quarter of 2008, the developer will launch one million square foot project, in accordance with the agreement signed with Dusit International, one of the prestigious Thai hotel chains in the world.

At present, Al Osaimi is carrying on with the final stages of escrow registration process in compliance with regulations laid out by the Dubai Land Department, thereby preparing to launch early next year.

The project that spreads over an area of 95,000 square meters on The Palm Jumeirah, comprises a seven star luxury hotel, a five star family resort, and an upscale residential complex that includes 178 posh freehold townhouses, penthouses and a dozen chalets.

Being designed in traditional Indian manner, the hotel has 116 guestrooms and suites, while the Moroccan-themed family resort has 292 rooms and suites. The hotels offer excellent dining, themed landscaping, ballroom, and state-of-the-art amenities. The luxurious development will also include renowned Deverana Spa by Dusit, an authentic Thai-inspired rejuvenation, apart from internationally acclaimed service of Dusit International, incorporating Thai culture and hospitality.

Right from its inception 25 years ago, the Al Osami Group, has handled several projects in Kuwait, and in the Middle East, including commercial, residential, hospitality and retail developments. The company has a rich portfolio that covers various sectors including, construction, real estate investment, engineering, while the subsidiary firm of the group has spearheaded for 15 projects including the group's development on The Palm Jumeirah.

Tuesday, December 11, 2007

Abu Dhabi plans to set-right property laws

Abu Dhabi is planning to create a legal framework to protect the emirate's property investors to support the current property boom, said senior government officials.

Speaking during a seminar on 'Abu Dhabi Property Laws', the Undersecretary of the Department of Municipal Affairs, Ahmad Mohammad Shareef, said Abu Dhabi is currently witnessing a construction boom that is expected to continue during the next 15 years. The recent launch of Al Raha Beach, Reem Island and Saadiyat Island are sufficient proof of evidence for this.

However, an essential element for success of mixed-use projects depends is, owning the right regulatory framework that provides legal protection and clarity to property owners and investors. Currently, the Al Tamimi & Company is drafting "implementation regulations" that provides guidance on various aspects of property laws. The lawyers and property specialists have requested the Abu Dhabi government to establish a regulatory body, just as Dubai's RERA.
The experts have also urged the government to implement a property registration system in the emirate. Analysts are of the opinion that property valuations in Abu Dhabi are cheap and have further potential for growth.

With the Abu Dhabi property sector gaining credibility, the market remains extremely tight, with high growth in rents, which grew by 22 percent, and prices, which grew by 18 percent. Further improvement in Abu Dhabi's current property laws are necessary, as registration of property rights and ownership rights are expected to have a positive impact on property market.

Although, there were two laws that were issued in 2005, pertaining to ownership and registration of property rights in Abu Dhabi, the law does not stipulate the rights of the land upon which the apartment or building is located. A Strata Law is likely to be implemented shortly, that would define the rights of owners’ of units and the common property in multi-owned buildings and communities.

Ground-breaking held for Indigo Spectrum 1 and 2

Indigo Spectrum 1 and 2
One of fastest growing real estate development companies, Indigo Group, has announced the ground-breaking of their project, Indigo spectrum 1 and 2 in the Central District of International City, Phase 1 in Dubai.

The eight-storey Indigo Spectrum 1 and 2 comprises exquisite residences, with single, double and triple bedroom apartments, and feature a rooftop pool, ground floor retail, and fully equipped gym that represent contemporary metropolitan living.

The Director of Indigo Properties, Anand Lakhiani, expressing his delight over the construction, said that Indigo Spectrums 1 and 2 are set to deliver an exciting living experience at International City. He said that he was confident about the concept being embraced by the market, which would make way for a series of stylish, affordable living solutions.

Sunday, December 09, 2007

Dubai property prices unlikely to stabilize in next few years

The real estate prices in Dubai are unlikely to stabilize during the next five years, in case the rent-cap is not lifted, and if the government does not take initiative to implement measures that could contribute in improving the supply market, say experts.

Property price trends in DubaiA study of the Dubai real estate sector by the Dubai Chamber of Commerce and Industry (DCCI) revealed that demand and supply of real estate will reach equilibrium only in 2023, provided, the government does not interfere or bring in new policies.

The Director of DCCI's Data Management and Business Research, Dr. Belaid Rettab, said "Equillibrium is when demand meets supply, and the prices remain stable."

Imposing rent cap, apart from delaying the process of stabilizing the market, will not be able to address price hikes too. Being supporters of liberal business, we do not prefer to have rent caps. The simplest solution to prevent price hikes is to bring in more supply to the market. The government, apart from supporting development of mortgage sectors, will also have to arrange finance facilities to developers so that they could build more, Rettab said.

The DCCI study revealed that the property prices have increased by a 10 percent cumulative annual growth rate in the medium term. The long term increase was 4 percent, which translates itself into an average price hike of seven percent, equivalent to the current rent cap imposed by Dubai government.

The DCCI study revealed that the government policies will positively influence income, population, cost, financing availability, tastes and preferences of buyers and speculation of future prices that could contribute to increase in demand.

The increase in supply will depend on the financing, production inputs cost, construction technology and expectation of future demand.

Mawarid Finance offers financing for The Centrium purchasers

Centrium Dubai
Mawarid Finance, a Dubai-based public joint stock company, specializing in Islamic Finance, have entered into a partnership agreement with ETA Star, for providing finance to purchasers of units in 'The Centrium' at International Media Production Zone (IMPZ) in Dubai. Potential buyers can get up to 95% finance, and will have to pay installments after moving into their apartments.

The 'Centrium' in Dubai, comprises of four towers, interlinked to each other by bridges and with common facilities in a spacious garden setting. The apartments are available in configurations of single, double and triple bedroom apartments with latest hi-tech amenities.

The Chief Executive of Mawarid Finance, Mohammed Al Neaimi, said that the financing of the 'Centrium' units is based on Ijara principle, with an undertaking to transfer title on fulfillment of buyer's contractual commitments.

Saturday, December 08, 2007

Diamond Views in Jumeirah Village progresses on schedule

Diamond Developers, a new class of property developers in Dubai, have announced both projects, Diamond Views 1 and Diamond Views 2, which are progressing as per the planned schedule during the construction phase.

Diamond views in JumeirahDiamond Views, the Dh.1bn project, located in South Jumeirah village, features town houses and residential buildings. The buildings offer four different kinds of spacious studios, eighty types of single bedrooms apartments, and three types of double bedrooms apartments. The townhouses offer a selection of two, three and four bedrooms.

Ideally positioned in Jumeirah Village, the Diamond Views offers its residents all the amenities that define Dubai's standard way of living, featuring parks, sports courts and tracks, shopping, fine dining, movies, countless night life choices and more.

The shoring and excavation works have been completed, and currently, Diamond Views 1 is at the stage of townhouses foundation up to tie beams. The construction of first phase of Diamond Views 2 began during early part of this year.

The shoring, excavation, dewatering and foundation works is being handled by Jeet Contracting. The expected completion date for first two phases is December 2008.

Thursday, December 06, 2007

Al Manal Development- first company to issue Pre-registration Certificates

Al Manal Development is the first company to issue the Pre-registration Certificate for its La Vista Residence project, in line with the recently introduced new system by the Real Estate Regulatory Authority (RERA).

The Chairman of Al Manal Development, Juma Al Ghurair, said that after being the first to implement the Escrow Account Law, Al Manal, is now, the first to issue the Pre-Registration Certificate.

He said that Dubai, being a competitor in a world market, the business practices and laws should be the best, if it wishes to increase its international property investment. The creation of RERA, and introduction of new laws, has generated stability in the market, which would benefit investors and developers alike.

RERA, which covers three areas, permits developers to input all pre-sale, change of ownership and mortgage activities. The Pre-sale category includes full registration of buyer's information, property details, and the amount sold for. The mortgage section is filled in on completion of pre-registration, and will include the mortgage plan, which is chosen and approved by the buyer. The Change in ownership section will include updates of any change of ownership that RERA and the property developer can keep track of.

La Vista Residence

RERA, Chief Executive Officer, Marwin bin Gholaitah, said that the pre-registration system would provide more credibility to developers, and create better trust between developers and customers, as the information regarding property would be safely registered in a secure system, approved by RERA.

Wednesday, December 05, 2007

GCC Realty prices expected to continue in the current pace

The real estate prices in Gulf Countries will continue to remain as in the present, due to land scarcity and fluidity caused by surging oil prices and mounting speculations, revealed a special report.

Middle East Real Estate MarketA weekly report by Al-Masar Group states that the inflation in building & construction sector in Gulf, has reached fresh levels through construction of 2837 projects, mostly in UAE, Saudi Arabia, at an estimated value of $2.4trillion.

A recent study by a Dubai-based Research Company, 'Proleads', states that the King Abdullah Economic City, is the largest project, currently in progress in the region, which is worth around $120billion.

Next in line, is the 'City of Silk' in Kuwait, costing about $86billion, followed by the Dubailand in UAE, which costs around $60billion.

However, the report depicted conflicting figures and statistics, depending on the size of planned or under-construction projects. Massive projects, which include industrial islands and skyscrapers, lie behind the growth of regional construction and building sector, and huge boom in the sector, has led to better maintenance services, facilitated construction, overhauled utility management and helped a high demand for the sector.

The size of utility management market in Gulf countries, except Saudi Arabia, touched Dh.17.72bn during 2006, and is expected to grow up by 15.3 percent by 2012, stated the report.

UAE Realty to grow beyond 2015

As per two recent studies by Damac Capital International and HSBC, the UAE, which accounts for more than sixty percent of the real estate development in the region, is expected to experience the realty boom beyond 2015.

Analysts forecast that Dubai, which continues to experience major demand would continue to surpass supply for a couple of years more, while the Abu Dhabi market, is expected to pick up and maintain high rental yields beyond seven percent until 2013.

The analysts of Damac Capital, Pamela Chikhani and Hany Seif, predicts that although the Dubai property market signifies only a small fraction of global market, it will continue to be a major force in the regional real estate investment.

Asteco, a Dubai-based realty agent, reveals that the Dubai property market accounts for 47 percent of the entire GCC market. Abu Dhabi is a distant second with 14 percent. Hence both Dubai and Abu Dhabi put together, account for more than 60 percent of GCC real estate market.
It has been estimated that within the next decade realty investors would pump in about $300bn into Dubai's real estate developments.

However, HSBC's Analysts believe that, Abu Dhabi emirate would establish itself as a new regional real estate market, as the sales activity has picked up this year, and the market remains very tight with stronger-than-expected growth in prices and rents.

Tuesday, December 04, 2007

ACI real estate launched Niki Lauda Twin Towers in Business Bay

Niki Lauda Twin Towers in Dubai
Leading providers of investment solutions in Germany, ACI (Alternative Capital Invest) Real Estate, has officially launched the Niki Lauda Twin Towers in Dubai. The launch was alongside the 36th anniversary of UAE's formation, where ACI participated in the National Day celebrations. The legendary Formula 1 World Champion racer, Niki Lauda, was also present during the launch ceremony.

The launch of Niki Lauda Twin Towers in Dubai, is the first among the series of celebrity-branded real estate developments to be launched by ACI Real Estate. Two other properties endorsed by Boris Becker and Michael Schumacher are expected to be launched in the next couple of weeks.

The ACI Real Estate Managing Director, Robin Lohmann, said that "We at ACI believe in doing things in a different manner, as being innovative adds significant value to our offerings. By adding a celebrity brand, which matches our standards of excellence, we make sure that apart from delivering just a great product to our customers, we also create an iconic landmark which is instantly recognizable."

Positioned in Business Bay, the Twin Towers with 29 and 26 storey each, and another four floors at basement parking, are due for completion by 2010. The towers, which houses only offices, are the only office development in Dubai that provides leisure amenities such as outdoor swimming pools, gymnasium and prayer rooms.

Thursday, November 29, 2007

UAE Realty market expected to stabilize with the execution of Strata Law

UAE property market
The professionally implemented Strata and Facilities Management is widely expected to enhance the quality of life, and investor confidence in the UAE, thereby bringing about more stability in the UAE real estate market.

Dubai, as a part of its streamlining process, is likely to launch a Strata Law soon, which would streamline its local realty market, through adoption of best international practices.

The Strata Management will cover all common facilities shared by both owners and tenants, such as the fire services, parking, lifts, air conditioning, walkways, gymnasiums, pools, gardens and other common property. This is vital in maintaining high-quality living environment, keeping in mind, the health and well-being of all residents, while also maintaining cordial stakeholder relations.

The Chief Executive Officer of BCS Strata Management Services, Peter Crogan, while speaking at the Facilities Management Conference in Dubai, noted that the UAE property market, particularly Dubai, has entered a phase of proper regulatory frameworks and asset management protocols.

The region has witnessed high volume of investment and property boom, with spectacular and extensive developments being launched, the sustainability, of which, could be guaranteed only through professional management of assets, he added.

ETA Star delivers new mixed-use realty development 'The Palladium'

The Palladium Dubai
A leading UAE realty developer, ETA Star, has announced the delivery of the luxury mixed-use development 'The Palladium' at Jumeirah Lakes Towers on Sheikh Zayed Road, Dubai.

The luxury development, which features 34-storey office and retail and residential complex with single, double and triple bedroom apartment and penthouses, has been handed over to the respective owners.

Located in the heart of Jumeirah Lakes Towers, 'The Palladium' captures the charm and essence of sophisticated lakeside lifestyle. Spreading over half a million square feet in area, it is a state-of-the-art high-rise development, comprising coffee shops, restaurants, and boutiques in the lobby.

The Executive Director of ETA Star, Abid Junaid, mentioned that 'The Palladium' being, one of its major projects, the company has been able to keep up its promise, thereby deeply enrooting the trust that the customers have placed on the company.

Innovative building with Sandwich Panels at Al Reem nearing completion

The first building built without any wood or steel or concrete, is nearing completion on Al Reem Island of Abu Dhabi. The building, constructed with 'sandwich panels' is made of composite materials that are usually used in making new generation aircraft, including the Airbus 350 and Boeing 787.

The project is expected to be the new corporate office of Tameer Holding, which is currently working on a $1.9bn complex on the Al Reem Island.

The techonology which emphasizes on cost-saving and faster construction, has been introduced to the region by the InnoVida Group in collaboration with Safeer Group, a UAE based company. InnoVida is a US multinational company with operations in Africa, Germany, Central and South America and Middle East, which came to limelight with Pyramid, installed at Hyde Park in UK by the renowned pop star Romero Britto.

The Chief Executive of Tameer, Dr. Abdallah Shaaban, said "We hope our building on Al Reem will be the first structure to inspire other builders in adapting this technology and will go a long way in saving construction time and energy."

Tuesday, November 27, 2007

Barwa launches Ajman Corniche Residence

The Barwa Real Estate, a Qatari developer, has unveiled a group of seven interlinked towers in Ajman Corniche Residence, reports Gulf News.

The Ajman Corniche Residence, located on Ajman Beach Road comprises residential areas, shopping malls and entertainment centers, strategically connected to each emirate in such a way that it is 10 minutes away from Sharjah, 5 minutes away from Ajman and 30minutes from the Dubai Airport.

Ajman Corniche Residence
Ajman Corniche Residence is supported by the Ajman Government and is the freehold residential development of Ajman.

The interlinked towers ranging from single to four bedroom sea-view apartments, with a range of 1344 to 5909 square feet in size, comprises landscapes, gardens, and a hoard of other amenities such as sauna, pool, steam room, relaxation area, Jacuzzi, children's play ground, pavilion, and health clubs, all in a luxurious affordable setting meant for commercial or residential purposes or investment.

The project which is expected to be complete by 2010, is 100 percent owned by Barwa International.

Mizin Remraam Phase I units sold out successfully

Mizin, a member of Tatweer, has announced that the low-rise community Remraam Phase 1, which was announced on 20th November 2007 has been sold completely.
Mizin Remraam
The first phase of the project comprising low0rise Arabian themed buildings with seven storeys and 2090 units is the first of its kind in a large scale development that combines upscale living with value for money proposition.

The CEO of Mizin, Sami Al Hashimi, expressed his happiness over the fact that following the successful launch of Majan, Liwan and Arjan, now Remraam Phase 1 units has drawn lot of consumer interest and has been sold out completely, which indicates once again, the interest that the customers have placed in the company's developments.

The Mizin Phase 2 is expected to be launched during early 2008.

Sunday, November 25, 2007

Ajman I development meets 75% sale within a year of launch

Ajman I development
Aqaar LLC has announced that nine out of twelve residential towers of the Dh.2.7billion mixed-use development in Ajman 1 has been completely sold out.

Spread over an area of 72,000 square meters of area, the Ajman 1 realty comprises 16 towers, a convention center, and retail and leisure amenities.

The Head of Ajman Municipality, H.H. Sheikh Rashid bin Humaid Al Nuami, said that they had targeted a sale of 50% of the project within the first year, and now 9 out of 12 towers have already been sold out, within a year of launch.

Aqaar has announced that it has entered into a deal with the Abu Dhabi Commercial Bank for a major package for financing the construction of Ajman 1. As per the deal, the Bank will provide a fixed term loan of Dh.600 million for construction of the real estate project in Ajman.

Saturday, November 24, 2007

Indigo properties begins construction of Indigo Optima 1 and 2 at Dubai Industrial City

Indigo Properties
One of the fastest growing real estate development companies, Indigo Properties, has announced the construction of two developments, Indigo Optima 1 and 2, at the Dubai Industrial City.

Both the mid-rise developments will offer business space within the International City Phase 1.

The Director of Indigo Properties, Ramesh Sawlani, expressing his pleasure over the commencement of construction work, said that Indigo Optima will bring about a new dimension to the already diverse portfolio of the company. He pointed out that Indigo Properties has been providing exciting and relevant projects for Dubai.

Indigo Optima 1 and 2 will feature 'mix and match' commercial and retail space, designed to provide the exact flexibility that the Dubai businesses are currently looking for.

The project is expected to be complete by July 2009.

Thursday, November 22, 2007

Maritime City announces complete sale of phase one plots in Maritime Complex

The world's first purpose-built Maritime Center, and a member of Dubai World Group of Companies, the Dubai Maritime City has announced recent sale of its first phase plots of the massive commercial and residential districts of its Maritime Complex to contractors and developers.

The work on various commercial and residential projects within the city will begin in near future. The developers are required to obtain the 'Green Building Certificate' for their projects, as per the developmental policies and strict environmental standards of Dubai Maritime City.

The CEO of Dubai Maritime City, Amer Ali, said "The sales performance of the first phase of the project has surpassed expectations with tremendous response due to the huge project value in terms of excellence and creativity, as well as being the first of its kind in the world and in the region. "

He also expressed his pleasure over the steady economic potential of the project, which is sufficient proof of success of Maritime City.

Dubai Studio City commences first phase of construction works

A member of TECOM Investments, Dubai Studio City (DSC) has announced that the construction of Phase I of its commercial complex has commenced, and will be complete by December 2008.

Spread over 490,000 square feet, the development will have a range of office spaces, suitable for small and medium business set-ups, freelancers, production houses, and animation and graphic design companies.
Dubai Studio City

Dedication to the growth of radio production, film, TV, post-production and broadcast industries in the region, the Studio City will comprise 14 sound stages, and an area of 3.5million square feet for commercial offices, a business center, pre-built studios and post-production studios.

The Director of Dubai Studio City, Jamal Al Sharif, said that they are investing in developing a state of the art model which will help the partners in conducting a seamless operation. The Commercial Complex at the Dubai Studio City will comprise customized office space, to meet the needs of post-production companies.

Tuesday, November 20, 2007

Emaar Malls Group completes Gold and Diamond Park expansion

Gold and Diamond Park
The Emaar Malls Group, a subsidiary of Emaar Properties PJSC, has completed the second and third phase of Gold and Diamond Park expansion, with the number of gold and jewellery retailers, being tripled, with new office blocks being established to house 118 manufacturing units and 350 commercial units.

Most of these are located between the residential and commercial developments near Sheikh Zayed Road and Interchange 4 in Dubai.

The Gold and Diamond Park, launched in May 2001, offers various commercial and retail business opportunities. It also comprises a restaurant, several cafes, and an underground parking with a capacity to park more than 750 cars. Apart from jewelery and gold trade, businesses from all sectors have opened offices within this commercial hub.

The General Manager of Gold & Diamond Park, Taher Badri, said that the Gold & Diamond Park has expanded significantly in size, and this will further enhance its reputation as a much sought-after location for a variety of businesses. The range and diversity of the business offerings in Gold and Diamond Park, makes it a leading destination and a centralized place, to conduct business of diamond and gold jewellery.

Monday, November 19, 2007

Al Madar launches Dh300m Siraj Tower

A leading GCC property developer, Al Madar Property Investments, which is also a part of the Al Madar Group, has announced the launch of its Siraj Tower, worth Dh.300m, located at Arjan, Dubailand.

Al Madar Siraj Tower
The thirty storey residential tower comprises a studio, single, double and triple bedroom apartments, and houses world-class amenities, presenting an ultra-luxurious residential offering to its investors.

The design of Siraj Tower draws inspiration from Roman and Spanish architecture. According to the Managing Director of Al Madar Group, Haider Abdula Reda Mashhadi, the Siraj Tower, with its attractive design, interiors and amenities, is the most sought-after residential projects in Dubailand.

The tower has a Homenet system that offers additional lifestyle and security facilities for easy living and better access and control.

The construction of the tower will begin during May 2008 and will be complete by mid-2010.

Al Madar, since its launch in Qatar during 1992, has grown to be a premier business house in Gulf, and has established its presence in various sectors including, engineering, real estate, contracting, trading and manufacturing.

Sunday, November 18, 2007

The Views - community for young professionals and families

The Views, is another Emaar project, strategically located next to The Greens. It focuses on spacious and comfortable living at an affordable price. The views are so designed, that they offer eye-catching views of the prestigious Emirates Golf Club and the surrounding waterways. With a high-quality finish, most properties of The Views are already complete, while other sub-developments too will soon be completed.
The Views

Designed to be a master-planned community for young professionals and families, The Views, are a spacious community with all the necessary amenities that one would look for to be self-contained. The picturesque views that the development offers is a strong selling point. Emaar also offers a wide range of high-rises and low-rises, apart from Riviera-inspired townhouses within the development for the residents to choose from.

The other features that make up The Views community are The Fairways, Arno, Golf Tower, Travo, Turia, Links and Una. Other amenities include gyms, sport courts, swimming pools, underground covered parking, play areas, shopping areas, parks, barbeque areas, and 24 hours security.
The Views are located in close proximity to the Sheikh Zayed Road, with Dubai Media City, shopping malls, beaches, and five star hotels positioned only short distance away.

With studios, single, double and triple bedroom apartments to choose from, The Views are just the right choice for those looking at high-quality living and convenience.

Nagarjuna Construction forays into Dubai Realty market with Dh.1.5bn NCC Harmony

Nagarjuna Construction
A leading Indian construction conglomerate, NCC Urban Infrastructure Limited, a subsidiary of NCCL (Nagarjuna Construction Company Limited), has launched a Dh.1.5bn freehold mixed-use development at DuBio-ech (Dubai Biotechnology and Research Park).

The twin tower project, NCC Harmony, covering 2.3million square feet of built-up area at the DuBiotech free-zone is the first project by the company in Dubai. The development is located in the heart of New Dubai, adjacent to Dubailand, Arabian Ranches and major shopping centers.

NCC Harmony comprises two 32 storey towers with one residential and one hotel apartment, comprising single and double bedrooms, and studios.

NCC Harmony is supported by NCCL, an ISO 9001-14001-18001 certified Group, rated as 'Best Under Billion' by Forbes Asia, in Asia Pacific during 2005. The Group has an annual turnover of Dh.3billion, and is the largest construction groups in India.

The construction works of NCC Harmony has been handed over to Dutch Foundation and Concrete Processing Co. LLC with the excavation, piling and shoring works already commenced.

The development is slated for completion by May 2010.

Saturday, November 17, 2007

Emaar to host sales of Platinum Collection homes in Downtown Burj Dubai

Emaar Properties, one of the largest real estate companies in the world, has announced that they are hosting a special sales roll-out on 17th November 2007, for its Platinum Collection, the high-end homes located in Downtown Burj Dubai. The show would be hosted at 'The Palace Hotel', in Old Town, Downtown Burj Dubai.
Emaar Platinum Collection homes

The Platinum Collection of homes that are chosen from various residential developments within the mega-development project, comprise a range of amenities, such as high-end retail outlets, health and fitness facilities, swimming pools and children's play areas.

The Sales Director of Emaar, Saif Al Mansoori, said that these homes are chosen due to their superior standards of product quality, and also represent the luxurious living in the Downtown Burj Dubai, which would attract numerous interested buyers who are eagerly seeking a unique home experience.

Various financial institutions are offering easy home finance options for these residences. Emaar's flagship real estate project, Downtown Burj Dubai, is a mixed-use residential and commercial community, which includes hotel, shopping, leisure and entertainment, surrounded by open green spaces, lakes and other water features.

Till date, numerous homes have been already handed over to customers, and three luxury hotels have already got functional within the Downtown development.

Friday, November 16, 2007

Al Moosa plans UAE expansion

Al Moosa Enterprises, the owner and operator of Golden Sands Hotel Apartments in Dubai, announced plans to open other properties under the same brand name in Sharjah, Fujairah and Abu Dhabi.

The current portfolio of Al Moosa comprises serviced apartments with 11 Golden Sands, 3 Silver Sands, and an inventory of 1800 accommodation units.

The General Manager of Golden Sands, Mohammad Khoori, said at present Al Moosa plans to have atleast one Golden Sands in Sharjah, Abu Dhabi and Fujairah.

Khoori added that the group also plans to invest in several other new hotels, managed by international chains, while the negotiations are also on for management contract for a four-star hotel in Jumeirah Beach Residence, and a five-star hotel in Palm Jumeirah.

Apart from this, Al Moosa is also the owner of two Hilton-managed properties, and one Four Points Sheraton hotel, which is operated by Starwood in Dubai.

Thursday, November 15, 2007

Champions Tower III meets hundred percent sales

A leading Dubai-based property developer, Memon Investments, has announced sale of all its units in its Champions Tower III, worth $39.5million.
Champions Tower 3

The residential tower project, situated in Dubai Sports City, has generated huge buyer-interest from international and regional markets. According to Memon, the overwhelming success of the project is due to the extensive marketing campaigns held by the company throughout Europe, Asia and Middle East.

The hi-tech contemporary architectural design of the tower has also caught attention of the eye of the investors. The sixteen storey residential tower provides a choice of 256 elegant units comprising single bedroom, studios, and double bedroom apartments. The development also includes a communal swimming pool, health club, roof top juice bar, steam and sauna facilities, and separate gyms for men and women.

Spreading over a built-up area of 250,000 square feet, the tower includes three hi-speed elevators, covered parking on ground floor, apart from basement parking, 24 hours security, concierge and valet parking services and in-house maintenance team.
Located at a walking distance from the luxurious residential property are world-class academies, stadia, religious and healthcare facilities, religious facilities, and posh cafes and restaurants, and a shopping mall with a sports-theme.

KM Properties signs deal with Amlak Finance

KM Properties has entered into a deal with Amlak Finance, to provide its investors and home owner's the option of offering mortgages for 85% of their properties.

amlak finance dubaiKM Properties had earlier entered into financing deals with National Bank of Dubai (NBD). The finance options are now made available for the new launch by KM Properties, the TAMANI Arts Offices development at Business Bay in Dubai.

TAMANI Arts Offices is an iconic mixed-use development complex in Business Bay, comprising 20 storey tower near Burj Dubai, with 32% of tower's units sold at the show.

Another recent launch by KM Properties, the Artisan Cluster in Business Bay, worth Dh.1.3bn, announced during the Cityscape Dubai 2007 exhibition, has earned 111% capital gain.

The Executive Director and Co-Founder of KM Properties, Khulood Abdulla Al Rostamani, has announced that the company is offering further incentives to those investors who reserve units during the first phase of public sale, and these incentives will be compounded by the company's easy financing options, provided by NBD and Amlak.

Wednesday, November 14, 2007

City of Arabia developer arranges finance options

The Ilyas & Mustafa Galadari Group, the developers of a landmark residential and commercial development City of Arabia, in Dubailand, have entered into a deal with Dubai Islamic Bank (DIB) for financing options for their City of Arabia project.

Mall of Arabia
The Chairman of the Group, Ilyas Galadari, said that the MOU is an important step forward in realizing their desire to provide Islamic financing to investors in City of Arabia. With a range of properties ranging from the Wadi Walk residential apartments to the Mall of Arabia, investors get an easy access to a wide range of financial options.

The Senior Vice President of Retail and Business Banking Services, DIB, Mohammad Ameery, expressing his excitement regarding the deal, mentioned that the City of Arabia developed by the group includes houses that are unique and modern in the UAE.

As per the MOU, the Dubai Sports City and DIB will exchange information pertaining to the property market, and other relevant information, that contributes in developing the country's property sector. The signing of the MOU is coincidental with the DIB's vision in meeting the customer requirements who wish to acquire properties in City of Arabia.

The Jumeirah Park - community of family villas

The Jumeirah Park , together with Nakheel's Jumeirah Islands are a community of family villas in beautiful surroundings, specifically designed to offer environmentally friendly living in the heart of new development area. The Park, located in close proximity to the emirates Golf Club, is easily accessible from Emirates Road and Sheikh Zayed Road.
The Jumeirah Park

With a wide choice of 2000 odd three, four and five bedroom villas, built within and eco-friendly environment, the Jumeirah Park is a project that is appealing to public. The villas have a wide range of sizes ranging from 3569 square feet to 5479 square feet of space, and each of these comes with its own Private Garden, Standard Private Pool, Car Ports, and a Standard Private Pool for larger villa categories.

The villas have the latest in communications, internet and entertainment. The villas are finished to the highest standard, and include the best facilities and luxury fittings within the community. With landscaped gardens and parks spread throughout the entire development, residents get to enjoy cycling and jogging as there are tracks for these events, and sufficient room for outdoor seating and exercise areas.

The development also features community center with cafes, shops and a pharmacy, as well as restaurants, shopping center and a promenade. There are also quite a few mosques, play areas and a kindergarten on the site.

The Jumeirah Park community promotes quality living in a healthy environment, with additional green measures such as the energy saving designs for villas, recycling, water features, and reduction in land, water, air and noise pollution. Residents at Jumeirah Park get to interact closely with nature, while also sustaining a good quality lifestyle.

Tuesday, November 13, 2007

Despite peak construction boom, Abu Dhabi still faces housing shortage?

In a city, such as Abu Dhabi, which is so full of new real estate projects and in peak of construction boom, it is a startling fact to note that thousands are left struggling to find suitable properties to rent, reports Gulf News.

According to Property Consultant and Director of Global Hills, Diana Stebbins, a solution to this property hunt would finally be found during 2009, when people could buy and move into their own accommodation. However, for now, the villas are divided into four or six partitions for accommodation of bachelors and dual occupancy units.

The landlords and developers are taking full advantage of the current demand for housing, and have found this as a suitable opportunity to increase rent rates and prices.

A resident, who has been residing in Abu Dhabi for the past thirteen years, says that during the past two years, it has been shocking to note that some places have even doubled in rent rates. On the other hand, the landlords do not have much property to rent, as during the past. Even in case the property is available, it is sold out or rented within 24 or 48 hours.

The Abu Dhabi Chamber of Commerce and Industry has made it clear that the housing situation in only going to get worse, as by 2008, atleast 13,000 units would be required to keep pace with the demand.

Although, the endless campaign ads by development companies, gives a ray of hope initially that the demand may level out supply, a closer look would reveal that such properties are mostly businesses, hotels or housings meant for 'only' the upper-class who could afford to pay atleast Dh.15,000 to 20,000 a month for a "modern" single bedroom apartment.

This way, an average foreigner, moving into Abu Dhabi, hoping to live in a decent apartment and saving the extra money, is left in the lurch, as for those with an average income of Dh.12,000 a month, it is nearly impossible to save. With such a scenario, saving is the last thing that a single-income family could think of, as the money earned is being spent instantly.

Monday, November 12, 2007

Sorouh awards Dh.465m Shams Abu Dhabi contract to Al Geemi

Sorouh Real Estate has awarded a contract worth Dh.465m to Al Geemi and Partners for construction of utilities and roads and infrastructure in Shams Abu Dhabi.

The integrated development, worth Dh.25billion is the flagship project of Sorouh on Reem Island, which on completion, would house 55,000 residents.
Shams Abu Dhabi

"Al Geemi and Partners are the leaders in construction industry who play a major role in development of Abu Dhabi, and we are happy to work with the leading contractors in the industry," commented Mounir Haidar, the CEO of Sorouh Real Estate.

Al Geemi and Partners have been handed over the responsibility to construct the main loop road, internal roads network, water mains, internal utilities, traffic control system, storm water works, street lighting, telecommunications, sewerage, irrigation and gas works.

On completion, Shams Abu Dhabi will comprise 100 towers with 22000 residential units, apart from a park covering one million square feet in area. The entrance of the development would have the eight-tower development, The Gate district with Sky Tower comprising 74 storey and Sun Tower comprising 64 storeys.

The First phase of the project would be complete by 2009.

Sunday, November 11, 2007

ETA Star awarded with Superbrand recognition; becomes the first in the region to receive the certification

ETA star
UAE's well-known property firm, ETA Star Property Developers LLC, has been elected as a 'Superbrand' by the UAE Superbrands Council. ETA Star is the first private real estate developer to be voted as the strongest brands in the region.

This award further strengthens the position of ETA, as one of the fastest growing player in the property sector. ETA Star bagged this award with its unique set of brand values, and the equity that it enjoys in the market.

The Executive Director of ETA Star, Abid Junaid, said "Being chosen as a 'Superbrand' is indeed an honour and being the youngest brand to receive this honour adds to the gratification. We are glad that our aim to differentiate ourselves and be considered a trustworthy and reliable brand has been fruitful."

ETA Star is the region's first realty developer to receive this ISO certification. The company has launched several commercial and residential realty projects successfully in various master development communities such as the Dubai Marina, Business Bay, Dubai International Financial Center, International Media Production Zone and Jumeirah Lake Towers.

Saturday, November 10, 2007

Union Properties confirms participation in International Property Show

Union Properties, the UAE-based developer has announced its participation in the International Property Show (IPS) to be held between from 17th to 19th February 2008 at the Dubai International Exhibition Center in Dubai.

limestone house union properties
This exhibition, is the biggest transactional property exhibition in the region, and an annual transactional and networking event, in which high net-worth individuals, residential and commercial investors, and specialized visitors from realty sector would gather together in a single platform.

The UAE-based realty developer, Union Properties, have announced their participation in the IPS 2008, during which they would showcase three new projects, namely, the MotorCity, Index and the Limestone House, projecting a combined value of Dh.13billion. All three new projects are mixed-used commercial, residential and corporate property development, designed with specific themes.

MotorCity, covering 38 million square feet, is an automobile and motor sport development, considered as "city within a city" and consist of five components including the Business Park MotorCity, Dubai Autodrome, Green Community MotorCity, F1 Theme Park, and UPTOWN MotorCity.

Index, is an 80-storey building, with state-of-the-art offices and multinational corporations, and luxury apartments, designed by a reputed award-winning architectural firm in UK.

Limestone House, situated in DIFC (Dubai International Financial Center) is an exclusive residence, which represents the traditional elegance and magnificent aura of exotic Mediterranean and ancient Arabian cultures and styles, hosting a range of facilities that ensures top privacy.

Thursday, November 08, 2007

TAMANI Art Offices undergoes public launch at Artisan Cluster, Business Bay

Tamani Art Offices
The latest luxury realty development by KM Properties, the real estate development arm of KM Holdings, the TAMANI Art Offices, underwent public launch at the Artisan Cluster in Business Bay, Dubai.

TAMANI Arts Offices is an iconic mixed-use realty development complex, comprising a 20 storey tower. About 32 percent of the project was already sold to investors during its pre-launch at the Cityscape, Dubai.

The twenty storey glass and steel tower with latest cutting-edge technology will make a flawless business platform and grow to be the business epicenter of the prestigious Business Bay development in Dubai. Strategically located in the Artisan Cluster in Business Bay, the TAMANI Arts Offices will offer convenient and easy access to the most notable recreational and landmark destinations, including Dubai Mall, Old Town, Burj Dubai, and the Sheikh Zayed Road.

Spreading across two million square feet in area, the development comprises clusters of iconic towers which include residential buildings, commercial towers and hotels, designed by renowned design engineers and architects of Terry Farrel and Partners, the renowned designers behind the Greenwich Peninsula in London.

TAMANI Arts Offices will provide the best boutique offices, a grand reception and lobby lounge, spacious retail outlets, on-site art museums, hi-tech business offices and IT services, including IT infrastructure security and hi-speed internet access. The TAMANI owners and tenants will also be benefited by the exclusive facility management services, which include 24-hour concierge and valet, efficient housekeeping, on-call maintenance, and engineering services, access to meeting rooms and business centers, and banqueting and catering services on request.

KM Properties has come forward with Escrow facilities by joining hands with National Bank of Dubai, and has also entered into agreements with Amlak Financing, which will offer mortgages for about 85% of the purchase price.

Wednesday, November 07, 2007

DuBiotech HQ, world's largest green building, begins Phase I construction

A member of Tecom Investments, DuBiotech (Dubai Biotechnology and Research Park) held the ground-breaking ceremony yesterday, to begin construction of its head-quarters - the Bio HQ, and the hi-tech laboratory buildings - the Nucleotide Complex. This is a part of Phase I of the entire project.

DuBiotech Dubai
The headquarters, spreading across 600,000 square feet, has been designed by CUH2A, a leader in designing facilities for science and technology organizations. Recently, DuBiotech has been awarded the Design and Sustainability Honour Award from the American Institute of Architects (AIA), New Jersey for its technologically complex headquarters.

Expected to be one of the largest 'green' buildings in the world, the Bio HQ building was chosen mainly for its 'new regional vision' and 'refreshing and functional design' which included new initiatives to address environmental factors.

The DuBiotech Executive Director, Dr. Al Khayat, said "Our initiative to develop sustainable building indicates our commitment towards being a socially and environmentally responsible organization."

The project is slated for completed during 2009.

Tuesday, November 06, 2007

Dh2.4bn Dubai Lifestyle City to be launched on 13th Nov'07

The Dh.2.4billion Lifestyle City project in Dubailand, by ETA Star Group, will be formally launched on 13th November 2007, and the celebrated tennis player and style icon, Maria Sharapova, is expected to grace the occasion.

Dubai Lifestyle City
The Managing Director, Dubai Lifestyle City, Arif B. Rahman, while announcing the launch, mentioned that the celebrated tennis player, Maria Sharapova, represents the style, success and standard that a home-owner of Dubai Lifestyle City would yearn for, and that Sharapova's presence during the launch is a testimony to the importance that IMG Academies give to their Partnership with Dubai Lifestyle City.

The project has already received good response from investors across the globe, which is seeing results in the form of sales. The Dubai Lifestyle City in Dubailand, covers an area of four million square feet, and is considered to be a unique destination that offers its visitors and residents alike, with an enchanting lifestyle in a natural, calm and serene environment.

The project partners include the most respected international brands such as IMG Academies, JW Marriott, Microsoft and Cisco. The Lifestyle City has been designed in Tuscany style of architecture, by the celebrated Beverley Hills designer, Tony Ashai.

IMG Academies, the world-class sport institution, well-known for training top sport celebrities like Monica Seles, Jim courier and Andre Agassi, will now bring about the world-class training facilities for all sports, particularly the golf and tennis, to the entire region.

Monday, November 05, 2007

The Palm Jebel Ali Water homes

The Palm Jebel Ali Waterhomes are indeed a unique and rare property, and if you are looking to invest or buy, then we will be privileged to guide you to the best location that suites your budget and meets your requirements.
Palm Jebel Ali Waterhomes

The Waterhomes maintain the same design throughout, and are uniform in appearance, when looking at the master plan. The only difference is its location. They are created in the pattern of a poem and the words written in Arabic around the inner Palm, when read from above the sky, reads as "Take wisdom from the wise - not everyone who rides a horse is a jockey". While some of the houses appear away from the sea, the others are close to the land. While a few houses are open to sea views, the others have shoreline views. However, it is purely the matter of budget and choice.

Located between the Crescent and the Crown of the Pal Jebel Ali, the Water Homes are a range of elevated retreat homes, that resemble bungalows linked to each other with wooden boardwalks to create a 12kms circular chain. There are about 1060 Waterhomes, that boast of luxurious amenities, featuring private moorings for personal boats, which will be an asset for ocean lovers.

Sunday, November 04, 2007

Dubai recorded Dh.10.22bn worth land transactions last month

The total value of land transactions in Dubai touched Dh.10.22bn in October, according to Dubai Land Department.

Out of the total 395 cash sales that happened during the month, these transactions were worth Dh.6.03bn, out of which Dh.3.49bn were from mortgage trasactions, and Dh.693.49million were from donation of land and property.

The Land Department in Dubai, registered 395 transactions during the month of October, across 61 districts in Dubai. The total area sold was about 9.24 million square feet. About 354 transactions involved the sale of developed or built land.

Al Jadaf recorded the top selling district, generating 18.28 percent of sales during October.

Saturday, November 03, 2007

L&T and Eastern International to develop final phase of luxury Victory Heights villas

India's largest Engineering, Technology and Construction Conglomerate, Larsen & Tubro Limited (L&T), together with Eastern International LLC, a leading contractor in UAE have entered into a joint-venture to develop 'Victory Heights', a signature residential golf course villa community in Dubai Sports City.

Luxury Victory Heights villas
'The Victory Heights' community, worth Dh.558mn, covering 25mn Sq. Ft. of space, would comprise of 935 well-designed villas and town houses in and around the Golf Course in Dubai Sports City.

The iconic realty development will have 295 grand villas, positioned in the Calida, Carmen, Novelia and Morella villages of the Victory Heights community in Dubai Sports City. The villas depict eleven different styles, incorporating the European, Spanish and Mediterranean style architecture.

The 18-hole Signature Golf Course is designed by Ernie Els, the world-renowned golfer, and is further complemented by Butch Harmon Golf Academy. To pep up the whole community, tennis legent David Lloyd, also plans to set up his tennis academy and clubs within this community.

The President-Construction, L&T, K.V. Rangaswami, mentioned that their joint-venture with Eastern Contracting is the ideal decision, as the project would offer the best of amenities, and a distinctive unparalleled lifestyle. The project could prove to be a major boost to the region's landscape.

Uptown Midriff freehold residential development

Uptown Midriff freehold
The 23 hectare freehold residential development, Uptown, is a one of a kind development in the heart of the busy and popular Midrif area, with a shopping district and neighbourhood atmosphere, all in one place. Residents are placed with a wide choice of apartments, townhouses and villas to choose from, all of which are completed, apart from about 350,000 square feet of retail shopping space.

Uptown provides the right environment for small families with a choice of three bedroom town houses and row houses, surrounded by quiet streets and gardens. With the Commons recreational center, clubhouse, swimming pool, children play areas and seating areas and a gym that surrounds the environment, residents can easily keep themselves occupied.

The apartments are of four different types - the Terrace and Garden apartments with two bedrooms, offering outdoor space of living in a villa, and Gate and Courtyard apartments that comprise studios, single and double bedroom apartments.

The retail area offers much more for residents to enjoy, apart from the numerous amenities that are available. A covered porch which leads to open-style walkways, restaurants, shops, cafes, medical center, supermarket, cinemas and amusement areas, and a family food court, all in a relaxed environment for one and all to enjoy. Life in Uptown Mirdiff is all about comfortable and safe living, amidst a wealth of amenities in a neighbourhood that is full of activities, with the residents enjoying life to the fullest.

Landmark Properties bags three CNBC Arabian Property Award 2007

One of the leading real estate consultancies in Dubai, Landmark Properties, is the proud winner of three prestigious CNBC Arabian Property Awards 2007 for exceptional work in real estate and property management services. The company has been conferred with the 'Best Property Marketing', 'Best Real Estate Agency Website' and 'Best Real Estate Agency Marketing'.

The Landmark Properties website has also been nominated for International Property Awards, the highest five-star rating ever, in its category.

Since its inception, Landmark Properties has built a good reputation in the UAE and has been successful in dealing with all aspects of real estate services and in its marketing capabilities. Landmark Properties offer efficient professional service pertaining to all aspects of real estate, meeting the needs of corporate and individual clients, specializing in Commercial Leasing, Residential Leasing, Freehold Property Sales, Exclusive Project Marketing, Local Property Sales, Consultation, Estimates and Appraisals and Investments.

The Managing Director of Landmark Properties, Clifford Kelaita, speaking about the award mentioned that the CNBC Arabian Property Awards are a symbol of excellence in a competitive industry. With the company expanding and developing constantly to retain a leading position, the awards represent the ongoing success of the strategic growth of Landmark Properties.

Friday, November 02, 2007

United Holdings - new multi-disciplinary investment firm launched

A new private multi-disciplinary holding investment firm, United Holdings, has been launched for embarking on investments worth Dh.19.8billion during the coming years. The company, with its position as a premium investment firms, will concentrate mainly on opportunities in Dubai property sector.

Tiara United Office Tower
The Chairman of United Holdings, Mohammed Ali Al-Hashimi, said "After extensive research and planning, we are proud to officially launch United Holdings, which is well positioned to address investment opportunities across various economic sectors."

United Holdings plans to invest in various esteemed projects in the prime locations in Dubai, including the Sheikh Zayed Road, Palm Jebel Ali, Downtown Burj Dubai, Palm Jumeirah, Umm Suqueim, Dubai Water Front, and The World Islands.

United Holdings also has planned for real estate developments in Abu Dhabi and the northern emirates. Construction has already begun in Tiara United Office Tower, worth Dh.900million on Sheikh Zayed Road. The Tiara United Office Tower, worth 2.4billion is a joint-venture with Zabeel Investments, expected to be ready in 2009.

United Holdings is also planning diversification of its investment portfolio by investing in a range of assets across various economic sectors including financial services, hospitality, private equity and manufacturing.

Details pertaining to other projects will follow soon.

Dubai Government awards land worth Dh.280m to Dubai Financial Market

The Dubai Government has awarded a land grant, measuring 390,000 square feet, worth Dh.280 million to the Dubai Financial Market (DFM). Based on the directives by the Dubai Government, Dubai Properties, a leading real estate developer in Dubai, will set aside a land plot in their Business Bay project exclusively to DFM.

The land plot, covering 390,000 square feet in area, overlooks the waterfront in Business Bay, from three angles. The DFM plans to use the plot for construction of its main building, housing the future head quarters of DFM.

Spreading over an area of 43,500 square meters, the new headquarters will upgrade and replace the current DFM facilities. The DFM development in Business Bay will comprise a three storey tower, including a main trading floor with 120 broker offices, when compared to the existing 58 offices. The new facilities will also include press rooms, VIP areas, meeting and conference rooms, cafes and restaurants.

The Chairman for Dubai Financial Market, Essa Kazim, expressing his appreciation to H.H. Sheikh Mohammed bin Rashid Al Maktoum, said that this generous grant by the Dubai Government confirms the leading initiatives taken by him, which has always resulted in high achievements and prosperity to the residents and nationals of the UAE, and particularly to the shareholders in DFM.

Thursday, November 01, 2007

Deyaar Park first phase sold out on the day of its launch

The first phase of Deyaar Development, the Deyaar Park, was sold during the first day of launch, generating sales of more than Dh.1.3billion, reveal company officials.

Deyaar Park Jebel Ali
The first phase of the Dh.3billion project includes eight towers for commercial and residential purposes, built within an area of two million square feet. The project is also the single largest mixed use development by the company till date, comprising offices, homes and retail stores.

Deyaar Park is situated in the Green Trellis District of Downtown Jebel Ali, amidst lush green landscape, urban plazas and the shaded avenues. The park offers customers a choice of single, double and triple bedroom apartments apart from state-of-the-art office spaces which range from 691 sq ft to 2356 sq.ft. The residents of the park will have access to a range of amenities including a swimming pool, a landscaped courtyard, multi-purpose hall, well-equipped spa, high-speed internet connectivity, ample parking space, and 24 hours security, among many other amenities.

Work commences on HDS Sunstar Tower

The construction of the second tower of HDS Sunstar Towers commenced yesterday in Dubai International City soon by joint efforts of the Cinnovation and the HDS Groups.
The multi-dimensional conglomerate, the Cinnovation Group holds a global reputation in a number of other sectors too, apart from real estate, while the HDS Group have established themselves as major players in the property industry.

sunstar towers dubaiThe HDS Sunstar Towers, worth Dh.100million, is the giant residential project and the outcome of the combined business efforts of both groups. Comprising two G+10 storey residential towers with single, double bedroom units, the development has spacious living areas that have family-oriented amenities. The development also includes landscaped areas and car parks that is a true reflection of the two renowned groups.

On completion, the project will add to the global portfolio of the Cinnovation Group and includes numerous hotel and residential projects in Singapore, Africa, India and China. Scheduled for completion during the last quarter of 2008, the units of HDS Sunstar Towers will ready for sales during mid 2008.

This project is one among the prestigious projects from Cinnovation that is expected to change the landscape of Dubai.

Wednesday, October 31, 2007

Al Fara'a kick-starts construction of Manhattan Apartments at Jumeirah

Al Fara'a Properties recently held the ground breaking ceremony to mark the commencement of construction works of their Dh.353mn Manhattan Luxury Apartments in Jumeirah Village.

The Manhatten ApartmentsThe groundbreaking ceremony was conducted just after the successful launch of Manhattan Luxury Apartments at the recent Cityscape Dubai 2007, when the project generated considerable buyer interest, with more than 72 percent of the project, being sold out.

The construction contract for the luxury apartments has been handed over to Al Fara'a General Contracting Company (AFGCO) and their team of qualified professionals. AFGCO has a successful history of more than 26 years in implementing projects around UAE, such as the Al Attar Tower, Rotana Hotel, and the Sheikh Mansoor bin Zayed Tower, among others.

Alongside the sidelines of groundbreaking ceremony, Al Fara'a Properties has registered for an Escrow Account with Emirates Islamic Bank, in compliance with regulations stipulated by Dubai Land Department.

The Manhattan Luxury Apartments draws inspiration from the 1930's urban residences of New York, comprising 355 elegant units with a classic selection of studio, single, double and triple bedroom apartments. These apartments, coupled with the stunning landscapes of Jumeirah Village, have been so designed to include well-planned master bedrooms, generous walk-in closets, beautifully appointed bathrooms, and spacious and comfortable interiors with distinctive accent lighting. The other amenities within the complex include state-of-the-art gymnasium, a swimming pool with sauna and steam facilities, and children play area.

The General Manager for AFGCO, Ahmad Maarouf said "Our vast experience in construction business has provided us with utmost confidence in handling a high-profile project like Manhattan Apartments. The strength of our expertise will ensure that we live up to our reputation of delivering quality work within prescribed time frame."

The company has committed that the works would be complete within 24 months, towards end of 2009.

Tuesday, October 30, 2007

Aldar's new Head Quarters to be opened at Al Raha Beach

Aldar Properties, the first and fully-integrated development company in Abu Dhabi, has announced the commencement of construction works on their commercial office space of 51,000 square meters in the Al Raha Beach, the mixed-use water front beach. The new commercial development will be the headquarters of Aldar Properties.

The contract for the construction works has been handed over to a joint-venture company between Aldar and Laing O'Rourke. The new building with be the first spherical building in the Middle East, and will cater to the international business elite. The commercial building features aluminium and glass exterior with underground parking facility, marble floors and walls and turnstile security, considered to be Category A International Office.

With 110 meters in height, Aldar will occupy about 20 percent of the building and the rest will be leased out to multinational corporations in the city. Out of the total net area of 51,361 sq mt., the gross floor area of Aldar will cover 61,900 square meters. The building, despite its round shape, boasts of high-floor usage efficiency of 78 percent. The average footplate per floor is 1600 square meters. The signature development of Aldar, on completion, will comprise hotels, offices and retail space, all of which encompass a large public marina.

The CEO of Aldar Properties, Ronald Barrot, said "Aldar is the benchmark for quality commercial space in Abu Dhabi. Al Raha Beach, the most extensive of projects, is the ultimate location for our offices and growth in the future."

The Project Director of Al Raha Beach project, Michael Cox, said "The geometric shape of the building is a symbol of rationality, modernity, stability and unity. While providing a headquarters for Aldar, we also look forward to welcome other companies seeking offices that meet international standards."

The development is slated for completion towards end of 2009.

Masdar City Phase One, scheduled for completion by 2010

The Chief Executive of Masdar has announced that the first phase of the proposed six square kilometer development, Masdar City, will be ready by 2010.

masdar city dubai
The Chief Executive of Masdar, Sultan Al Jaber, mentioned that Masdar City, located adjacent to Abu Dhabi Airport will be complete towards the fourth quarter of 2009. He said that the Masdar Special Free Zone (SFZ) will promote the synergy between research facilities, academic resources, family businesses, the financial community and entrepreneurs.

The zone will have upto 1500 companies with attractive incentive packages, transparent laws, a one-stop-shop programme, tax-free environment, 100 percent foreign ownership and intellectual property protection. The zone has the added advantage of being located close to suppliers, manufacturers and markets.

Masdar is designed to ensure that Abu Dhabi grows its own share of global energy market by fostering the development and commercialization of innovative and advanced technologies in alternative, renewable and sustainable energies for a safer, cleaner environment and future.

Emaar launches Armani Residences at Burj Dubai

Emaar Properties, the leading Dubai-based realty developer, has launched their Armani Residences, in the world's tallest building, Burj Dubai.

Armani ResidencesDesigned by Giorgio Armani, the 144 units of Armani Residences offer a unique lifestyle experience, and are the first ever residences to be designed by Giorgio Armani. The Armani Residences complement the Armani Hotel, likely to be opened in 2008 in Dubai, and are the first to be opened on collaboration between Giorgio S.p.A and Emaar.

The single and double bedroom luxury residential suits of the Armani Residences, range from 99 sq. mt. to 208 sq. mt. in size, and are decorated with a wide range of Armani/casa home furnishings, clean lines, and the finishes and materials range from zebrawood, stone, fabric, venetian plaster and leather wall coverings. The smart-home technology is the main highlight of the residences that include 100% automated systems for temperature and drapery control, security, lighting and air-conditioning.

Every floor of the Armani Residences has its own elevator access, with full-glass panoramic windows that offer spell-binding views of the Downtown Burj Dubai.

The residents at Armani Residences also have the added benefit of enjoying the amenities at the Armani Hotel Dubai, which complements the Armani Residences, has 160 rooms offering the ultimate in hospitality standards. It offers facilities such as 24-hour room service, concierge, housekeeping, access to library spa, swimming pool and gymnasium and cigar club.

Burj Dubai, by itself, is a mixed-use tower, featuring commercial offices, leisure amenities, and serviced apartments. On its completion during late 2008, the Burj Dubai will be a perfect complement to a vast array of lifestyle options in Burj Dubai, featuring the Burj Dubai Boulevard, The Dubai Mall and various other hospitality and residential projects.

Monday, October 29, 2007

Dheeeraj East Coast LLC forays into UAE realty sector through a Dh.250m project

Dheeraj and East Coast LLC (DEC) have announced their plans to enter the booming hospitality sector of UAE though the launch of their first exclusive service apartment project, the Dh.250m Harbour Residences at Dubai Marina.

Harbour residence at Dubai marinaThe project includes a G+19 storey apartment tower and twin two and three bedroom duplex villas. DEC has also entered into an MOU with global majors such as EMCOR Facilities Services for management of its facilities across all projects in the region, which is currently more than 6.5million square feet of development area. The MOU also stipulates that EMCOR will manage the operations, maintenance, and technical services of Harbour Residences, while also providing soft support services such as ongoing maintenance, concierge, housekeeping, laundry, grocery stocking, 24 hour call centers, security and help desk facilities.

The construction work on Harbour Residences will commence during first quarter of 2008. The hotel apartment project will include 187 rooms, a shopping arcade, restaurants and cafes.

The Managing Director of DEC, Dheeraj Wadhawan, mentioned that the this project 'Harbour Residences' will be a valuable addition to the flourishing tourism sector in Dubai, wherein the hospitality sector is currently witnessing tremendous demand for rooms to cater to the increasing tourist traffic.

The project is slated for completion by the year 2010.

Sunday, October 28, 2007

Ground breaking ceremony held for Dh.85m Champions Tower II

Champions Tower II
Memon Investments, an arm of leading international business group, Memon Group of Companies recently held a groundbreaking ceremony for the commencement of construction works of the Champions Tower II, worth Dh.85million, in Dubai Sports City.

During the occasion, Memon Investments handed over the shoring and excavation contract of the tower to Stromek Emirates Foundation (SEF). SEF is a subsidiary of M'sharie, and a private equity branch of Dubai Investments.

The first phase of construction works, which include excavation, shoring and foundation, will be carried out by the piling company. SEF has assured the completion of the first phase in record time. This the second assignment that SEF is handling with Memon Investments, as currently SEF is also taking care of the foundations works on Champions Tower III development.

The Managing Director of Memon Investments, Ahmed Shaikhani, quoted that considering the expertise with which SEF had completed most other projects, Memon Investments, have no hesitation in handing over the project to SEF. He added that the company is confident that SEF will maintain their quality standard as in all other previous developments and work with true dedication.