Thursday, December 11, 2014

Five new projects worth Dh 3bn launched in single day

Five new projects worth Dh.3billion have been launched in the UAE in a single day, which indicates the growing confidence of the industry and investors in the real estate market in the country.

About four projects have been launched in Dubai, while one has been unveiled in Fujairah.  A Dubai developer, Omniyat Group, has begun work on Dh.600million ‘Anwa’, its first project in Dubai Maritime City with the company Chairman planning to double its investment portfolio to Dh.24billion from Dh.12billion in the next five years.

The Executive Chairman of Omniyat Group, Mahdi Amjad, said that real estate is a long-term investment and Dubai has proved time and again that its fundamentals are strong. The real estate market is also mature and over the past 10 to 15 years, the market has seen various cycles, which has further matured the market.

However, Amjad ruled out any oversupply in the market and said there is likely to be a sustainable growth rather than large jumps.

Omniyat has appointed Kele Contracting as the contractor for Anwa, the 48-storey tower, which is fully funded. The company does not plan to launch any project unless they had 70 to 80 percent finance in place.

The off-plan sale commences from Wednesday, with prices starting at Dh.1800 per square feet, and the project is due for completion by 2017.

One of the largest conglomerates in Dubai, namely, the Al Habtoor Group, has announced three new projects worth more than Dh.2billion. Work is underway for three developments – Dh.993 million worth Habtoor Polo Resort and Club, and Dh.1.02billion for the Metropolitan Sheikh Zayed Road and the Oasis Villas.

The Al Habtoor Club will include a five-star hotel with nearly 136 rooms and 162 luxury bungalows, all due for completion by 2017. Further, it will include a polo club, state-of-the-art polo academy, a riding school with 500 stables.

The six million square foot development, designed by British architects WS Atkins and Partners is located adjacent to Emirates Road and the Dubai-Al Ain Road, and in close proximity to Zayed University.

The Metropolitan Sheikh Zayed Road, a four-star boutique hotel, is due for completion in 2016, and it will have total of 334 rooms and suites. The hotel has been designed by Khatib & Alami, and will house the “Red Lion traditional English pub”.

The Oasis Villas is a residential development adjacent to the Metropolitan Sheikh Zayed Road, and will comprise 74 villas, due for completion in 2016. In total, the Al Habtoor investments in the UAE have exceeded Dh.15bn over the past two years.

Meanwhile, Al Taif Investment has launched a Dh.400mn Business Centre project in Fujairah. The project comprises two towers including 19-level office tower and a 19-level Courtyard by Marriott hotel including 228 rooms and apartment units. The developer plans to complete the project in three years’ time.

Thursday, November 27, 2014

Jumeirah Golf Estate to launch new community development

One of the most prestigious residential golf communities in the UAE, namely, the Jumeirah Golf Estate, has announced plans to develop its 15th community at its residential golf and leisure property in Dubai.

The announcement follows the growing demand for properties at Jumeirah Golf Estates’ Redwood development launched in September this year.

Located 20 minutes away from The Palm and Dubai Marina, the development offers a range of world-class amenities and 1000 individually designed homes in the UAE. The community recently hosted the DP World Tour Championship too, for the sixth year in row.

Speaking on the launch of this new community, the General Manager of Jumeirah Golf Estates, Yousuf Kazim said that the project not only completes the Jumeirah Golf Estates offering in Phase A of the development, but, offers a fresh entry level for people who wish to experience the excellent lifestyle and a range of luxury facilities available.

With the opening of new Clubhouse and launch of Redwood early this year, there has been much attention of investors and end-users, and it will be much sought-after offering in Dubai real estate market, he said.

Kazim further said that during the recent DP World Tour Championship, the company witnessed a major spurt in interest and wants to build-up on this momentum by including a 15th community.
Now, the introduction of a range of apartments and townhouses, all consistent with Jumeirah Golf Estates hallmark of quality and attention to detail, will offer improved choice for investors and end-users alike, he said.

Monday, November 24, 2014

UAE developers begin work on Cityscape projects

Rather than just announcing projects at realty expos, the UAE developers' are now keen on working on these projects at the earliest.
Union Properties, a leading Dubai-based developer will begin work on phase 3 of Green Community at Dubai Investments Park (DIP) by January 2015 and will complete by June 2017.
The Phase 3 of Green Community will include 210 residential villas and 22 duplex apartments. The tender for the main construction will be issued during the month, the spokesperson said.
The project has been designed by Dewan Architects and Engineers, a Dubai-based firm.
The Union Properties has launched three projects worth Dh.2billion, including launch of Dh.1.1bn ‘The Vertex’, a five-tower project in MotorCity, Dubailand. Work on this project will begin next year.
Meanwhile, the Tourism Development and Investment Company (TDIC) will begin work on Mamsha Al Saadiyat, a 1.4km beachfront mixed-use project, located in Saadiyat Cultural District by the year-end. The tender for main construction work will be issued by the year-end and the first phase of the project would be ready by 2017, a spokesperson said.
The project comprises 414 apartments, 47 townhouses to be built in two phases, although details of completion of these were not given. The development will feature nine low-rise residential buildings in five clusters, each about 250m long.
A consultancy firm, EC Harris, in August, said that the value of announced and planned construction projects in the UAE is likely to hit Dh.1.2trillion in 2014.
Driven by several mega projects and growing social infrastructure spend, the construction market in the emirate will return to near full capacity soon, the consultancy said.
Ventures Middle East, in its latest report said that projects worth $128.46billin are likely to be completed across the GCC by the year-end.

Thursday, November 20, 2014

Nakheel Mall at Palm Jumeirah to house 15 theatres

Nakheel has signed Vox Cinemas for Nakheel Mall on Palm Jumeirah, where more than half of the available retail space is now booked, the developer said.

The two-storey Vox Cinemas would occupy a 60,000sq ft space at Nakheel Mall, featuring 15 theatres including the popular Vox Max big-screen concept and the Vox Gold experience.

The Nakheel/Vox Cinemas partnership follows booking of more than half of the 100,000 sqm of retail space at Nakheel Mall by other major brand names.

The Nakheel Mall will have five retail levels that include 300 shops, three basement parking levels, 4000 spaces, two anchor department stores, medical centre, fitness complex. There will also be a roof plaza with restaurants and food and beverage outlets inside.

The mall will serve more than 30,000 residents on Palm Jumeirah, apart from the wider Dubai community and tourists. Construction of 418,000 sqm Nakheel Mall began early this year, and is due for completion in 2017.

Alongside Nakheel Mall will be the Palm Tower, Nakheel’s new 52-storey hotel and residential complex with 504 residences, a 290-room hotel and rooftop restaurant, infinity pool and viewing deck.

Nakheel Mall is one of the several new large-scale retail projects that are underway by Nakheel. The others include The Pointe at Palm Jumeirah, Deira Islands Night Souk, Deira Islands Mall, Jumeirah Village Mall and expansion to Dragon Mart Mall and Ibn Battuta Mall.

The first two neighbourhood retail centres at Jumeirah Park and Discovery Gardens opened early this year, with four more underway at various Nakheel communities across Dubai.

Thursday, November 13, 2014

Emaar announces sale of new luxury residences at Dubai Creek Harbour

Overwhelmed by the response drawn to the launch of the first residential tower, the region’s leading property developer, Emaar Properties, has joined hands with Dubai Holding to launch sale of luxury residences in two new towers in Dubai Creek Harbour.

The two residential towers are located along the northern front lining of the waterfront promenade and offer spectacular views of the Dubai Creek and the Cityscape, and form part of the six-tower Dubai Creek Residences cluster, said a statement by Emaar.

The community presents a marina and harbour lifestyle with unique retail, food and beverage options, signature restaurants, yacht club and bespoke luxury hospitality offering, it said.

Emaar will be managing the project and is launching sale of single, double and triple bedroom apartments in the two towers of 30 and 35 storeys. The spacious homes are designed to best standards of aesthetics, and range in area from 880 to 2154 sq ft and are ideal for families.

Located in the Island District of Dubai Creek Harbour at The Lagoons, the new apartment towers re-define urban lifestyles with increased focus on better connectivity and living in harmony with nature, the statement said.

The design of the tower draws inspiration from the creek and heritage surroundings, and the homes feature premium finishing, superior lifestyle amenities. The residences are conceptualized to attract ample natural light and offer heightened views of the landscape.

With the first launch having received tremendous interest even from international investors, who prefer laidback charm of the development, and its central location, the Dubai Creek Residences take residents back to life at source, celebrating the cultural, environmental and aesthetic value due to its proximity to the creek, said Al Matrooshi, the Managing Director, when speaking during the launch.
Spanning an area of 6million sqm, the Dubai Creek Harbour at The Lagoons will feature the Dubai Twin Towers, a mixed-use project, billed to be the tallest twin towers in the world, said an Emaar statement.

The development will also include cultural amenities, educational facilities, healthcare centres and a range of leisure choices, dedicated retail precinct offering high-end brands.

Launch of new Dubai Creek Residences will be on a first-come-first-served basis on 15th November at Dubai Creek Harbour Sales Centre in Dubai from 10am. In Abu Dhabi, it will be released at 10am at Dusit Hotel and in Doha at W Hotel from 9am.

Monday, November 10, 2014

Nakheel inks deal for new Dh 150mn waterfront attraction

Nakheel, the Dubai-based master developer has signed deal for The Boardwalk, a new Dh.150mn waterfront attraction, which will run along the 11km stretch of Palm Jumeirah Crescent.

The developer has appointed Overseas AST Company to build The Boardwalk, which is one of the new destination projects on-going at Palm Jumeirah.

Work on the project would commence by the month-end and will be ready by mid-2016.

The Boardwalk will transform the 11km protective breakwater of Palm Jumeirah into a destination for shopping, walking, and dining. This includes an East and West Pier, each stretching 100m out to sea, featuring glass-encased cafes and restaurants with views of Arabian Gulf, The Palm and the Dubai skyline.

Accessible from 14 points along the existing sidewalk, The Boardwalk will be created by building over the rocks of the island’s breakwater. It will be six meters wide, double the width of existing crescent path, and will house 30 kiosks, with refreshments and souvenirs, all through its length.

Currently, the Palm Jumeirah is home to several world-famous resorts including Atlantis The Palm, Jumeirah Zabeel Saray, Kempinski, Anantara, One & Only, Waldorf, Sofitel, Rixos, Fairmont and the Nakheel’s own Palm Tower.

Thursday, November 06, 2014

Marina Gate II development sees huge buyer demand

The Select Group recently witnessed huge demand for its Marina Gate II development, part of the Dh.4bn three-tower structure in Dubai Marina.

The first phase of the 64-storey Marina Gate II had 180 units and more, and will be released during the roadshows happening in the Europe, GCC, and Far Middle East.

According to the group CEO, Rahail Aslam, this is an interesting phase for Dubai property market, as customers are more concerned about quality, location and developer reputation.

He further said the first tower units were place on sale earlier this year. The company already had a wide list of pre-registered buyers who were expecting this launch, said Aslam.
The Tower I client base were from GCC, Africa, Europe and Far East.

Select Group has so far delivered eight projects, and an additional four is now in progress in Dubai Marina.

Sparkle Tower officially launched at Dubai Marina

The official launch of the Sparkle Towers at Dubai Marina has been hosted by Tebyan. The towers have made history as the first crystal-inspired towers in Dubai, with jewelled d├ęcor, including the sparkling lighting applications and crystal enhancements in the interiors.

Speaking about the launch, the Tebyan Chairman, Sheikh Adel Al Hussaini said that this is a ground-breaking achievement not only for Tebyan and its partner Swarovski, but also for future residents and visitors, who are placed on the top floor of luxury lifestyles, retail and architecture.

Sparkle Towers at Dubai Marina will not only attract elite residents, but also investors, tourists and property heavyweights. It is one of the most sought-after addresses, and will be more than just a location. It is a status symbol, a milestone and a beacon of elegance.

The project is an extraordinary residential haven and a landmark project that will delight generations to come, taking crystallized luxury to another level, said Markus Langes, Executive Board Member of Swarovski.

Located at Dubai Marina, the Sparkle Tower will be complete in December 2016.

Monday, November 03, 2014

Dh 2.5bn worth highest residential development underway at Palm Jumeirah

Omniyat, the lead developer has begun working on its Dh.2.5bn project at Palm Jumeirah, a 25-storey structure, which is due to become the single tallest residential property on the Palm Islands in Dubai, UAE.

Designed by Michel Abbound, the US-based architect and founder of Soma, the international architecture firm, the project will have 90 residences located at the trunk of Palm Jumeirah.
Omniyat is developing this project together with Drake & Scull International (DSI), a pioneer in engineering projects.

Unveiled at the Cityscape Global Conference in Dubai World Trade Centre in September this year, the project ‘One’ at Palm Jumeirah, is due for completion by the year 2017.

Over the next three years, Omniyat and their partner DSI will jointly work to build One at Palm, said Mahdi Amjad, the Omniyat CEO.

The project is specially designed for the most privileged of the privileged, and reflects commitment in design approach. The One will have amenities like indoor and outdoor swimming pools, cinema, cigar lounge, super luxury spa and yacht club.

Omniyat wanted a revolutionary design for One at Palm, which would help achieve record-setting prices through delivery of an extraordinary living experience for its buyers, said Amjad.

Soma has several projects in hand at present including the 690-ft glass and steel condominium tower in Tribeca, New York City, a 168-room hotel and 231 residence condominium project in Dubai, the luxury Shaza Kempinski Hotel in Doha, Qatar and a private beach residence community in Beirut, Lebanon.

Soma managed to win the project from a pool of renowned architects.

Aboud said that Soma is pleased to set a new standard for innovation and luxury experience in a market which is known for pushing boundaries. 

Friday, October 31, 2014

Emaar unit to launch an affordable housing project in the UAE soon

An Emaar unit has announced launch of an affordable housing project in the UAE.
Dawahi Development is presently holding an internal discussion on the launch of the project, and they will be announcing something soon, said Mohammed Alabbar, Chairman, Emaar Properties.
The Emaar unit is responsible for taking care of middle income market, he said.
Emaar Properties had announced the launch of its new wholly-owned subsidiary, Dawahi Development, a next-generation developer of ‘value housing’ project in October 2011.
Dawahi Development will develop value homes at an attractive price in major emerging markets across the MENA region, and will create employment and business opportunities for the local population, the developer said.
Early this month a report from Strategy said that GCC countries may face a shortage of more than one million homes by 2018, and with the growing population, the issue of affordable homes are worsening, as there are few homes being built.
From 2000 to 2013, total population in the GCC grew by 67 percent or more from 29.4 million to more than 49 million and continues to grow 2 to 3 percent each year, said Samer Bohsali, Partner with Strategy, in their report.
The young demographic structure in the region is generating a demand which could lead to a shortage of more than one million units by 2018, he said.
Back in 2012 September, JLL, a leading property consultancy, said that MENA is in need of 3.5 million affordable houses. Dubai developers have been targeting the high-end market and are not focused on launching development for lower or mid-income market.

Tuesday, October 07, 2014

Dubai property market, now on a more stable & sustainable growth path

The real estate market in Dubai is showing signs of sensible and sustainable growth with residential property being the most prominent sector. This is, as revealed by the Capital Club, Dubai’s premier private City Club and member of ENSHAA group of companies, together with ENSHAA PSC, the premium quality project developer and lead hospitality service provider.

The panels discussed the short to medium term situation in Dubai property market and revealed that although there has been considerable growth over the past two years, the rate of growth has levelled to a sustainable level in the second quarter of this year.

The ENSHAA PSC CEO, Raza Jafar, said that the Dubai market holds a great deal of potential, particularly when considering its position in comparison to other major international cities.

Dubai’s position as a global financial hub is well-established when combined with the strength of its infrastructure and the quality projects being delivered in its property sector. Therefore, it is now on par with any other international hub like London, New York, Singapore, Shanghai, or Sydney.
Dubai also offer excellent earning opportunities to its residents due to its no-tax policy. Therefore, the current generation with their disposable income have the opportunity to build-up real estate assets here.

He further emphasized that Dubai prime real estate is now priced at one-tenth the price in London, about one-seventh of New York and about a quarter of that in Singapore, which indicates the opportunities that are open for both local end-users and international investors.

With these sentiments, recently the JLL Dubai Property Market Report was released, and when Craig Plumb, the JLL CEO said that the market is on the rise in Dubai, with the residential sector in particular, being the star performer.

The average prices in this sector have growth by 64 percent over the last two years. The market still continues to grow and is almost at the top now. The prices are still going up and now, the growth has become more sustainable, which implies that the market has seemed to gain some stability.

Craig Plumb further noted that although there have been a lot of new launches, majority of the projects are still in the launch phase and not scheduled to hit the market any time soon.

Further according to data available 15000 to 20000 units being added to market each year. Taking into account the total supply of housing units in Dubai is just below 400,000, it implies that the increase in supply is only around 5 percent, which is a sustainable figure when considering Dubai’s constant population growth.

According to the panel, although there would be an increase in supply over the next few years, the demand in residential sector will still outstrip supply, and hence prices in residential sector are unlikely to dip.

Further, majority of smaller developers have shifted their focus from wholesale and are not selling ‘off plan’ properties, unless these sales are to cover mortages of actual end-users. The market is more stable now, and the smaller non-governmental developers are now more sensible about how they approach new projects, which works well for its growth in the long-term, said Andrew Chambers, CEO of GGICO Properties.

Monday, September 22, 2014

It’s raining mega projects in Cityscape Global Property Expo

The first day of the three-day Cityscape Global Property exhibition unveiled in Dubai yesterday, was a grand success, with series of new projects worth billions of dirhams having been unveiled.  Upbeat real estate developers in Dubai announced series of new launches – master developments and standalone projects, mainly targeting the upmarket segment.  Majority of these announcements came from state-owned developers, although property experts believe private sector will get active when the work starts on Expo 2020 venue site and when all infrastructure plans are unveiled. More new project announcements are yet to come.

Union Properties
Leading Dubai Financial Market-listed developer, Union Properties has announced three new projects worth Dh.2.15bn, among which, the launch of Dh.1.1bn ‘The Vertex’, a five-tower project in MotorCity.

The five-towers will have a total of 700 apartments, said Ahmad Khalaf Obaid bin Touq al Marri, General Manager, Union Properties. The construction will begin once the Dubai Municipality approves to begin construction.

Union Properties also plans to unveil phase 2 and 3 of Green Community in MotorCity and Dubai Investment Park, worth Dh.400million and Dh.650mn respectively. These phases comprise 74 and 78 villas, and 127 apartments. The phase 3 of Green Community, DIP will have 210 villas, 22 duplex units and 16 apartments.

Omnniyat
The Dubai-based developer, Omniyat, has announced a Dh.3.5bn launch with Dh.2bn being allocated for One at Palm Jumeirah and Dh.600mn Anwa in Dubai Maritime City and Dh.900mn ‘The Sterling’ at Burj District. All three projects are in outstanding locations, which is the key in Dubai’s competitive real estate market, said the Chairman of the group.

Dubai Holding
The subsidiaries of Dubai Holding namely, Dubai Properties and Tecom Investments will unveil details of their new projects with parent company having announced Dh.25bn Mall of the World, due to be the largest temperature-controlled pedestrian city with mixed-use components in the world.

The developer will also launch Dubai Wharf, a Dh.800mn project in Culture Village. This mixed-use project features 582 housing units, 150 retail, dining and entertainment units on the ground and first floors and over 2000 resident and visitor car parking spaces at basement. There are pedestrian bridges over the canal with full connectivity throughout Cultural Village developments. The Dubai Wharf is easily accessible from Al Khail Road Business Bay crossing and Al Jaddaf Road.

Dubai Properties also launched Maram Residence in Burj Khalifa district, a two-tower project which caters to increased demand for luxury residential and commercial property in strategic locations across Dubai. The 27 storey towers will include single, double and triple bedroom apartments apart from six exclusive penthouse suites. The development will also include business lounge, indoor children’s play area, outdoor children’s play and pool area, state-of-the-art gym and fitness area, a jogging track, sky garden with seating areas and water features, infinity pool deck at roof level with lounge for an ideal urban lifestyle.

Indigo Properties
The Indigo Properties has revealed plans of Dh.1.5bn ‘Indigo Zen’, a villa development in Dubai Golf City, Dubailand, which offers residents a tropical resort lifestyle.

Construction will begin in the 1st quarter of 2015 and will be completed in 24 months. The development would comprise 346 villas in the range 4000sq. ft. to 10,000 sq.ft, said Dey Maitra, Chief Executive Officer, Indigo Properties.

Meydan
Meydan, the developer of world’s biggest horse-racing complex, will showcase the ‘Meydan Avenue’, wherein residents get to enjoy a high street-style living with open spaces and natural parks.  The residents will have facilities including neighbourhood shopping centres, kindergartens, and mosques.

Meydan Avenue aims to establish new standards of living with wide choice of places to gather, explore and enjoy. This development offers residents and visitors unparalleled options for outdoor living, including open air shopping which will break new retail ground in Dubai.

Meydan Group also announced the Mohamed Bin Rashid Al Maktoum City District Eleven project, a suburban mixed-use community development that features private schools, parks, retail businesses with two prime residential areas. The residential areas cover a ground space of 450,000 sqm and 210,000 sqm respectively. Meydan Group will eventually accommodate up to 2000 students, sports and recreational facilities, including rugby fields, cricket grounds and a running track.

Investment Corporation of Dubai
Early this month, the investment corporation of Dubai announced three projects worth Dh.10.5bn, comprising Dh.5.5bn worth Royal Atlantis Resort on the palm, Dh.2.5bn ‘One Za’abeel’ project and Dh.2.5bn ‘Warsan’ project.

The developers have launched 42 developments including 17 villa and townhouse projects this year until end of August, comprising 11,250 units. The on-going Cityscape Global is expected to receive about 35,000 participants from around the world with exhibitor numbers reaching over 280 for the first time in five years.

The property show is co-located with three other dedicated and expert-led conferences, which are likely to include 1000 or more senior real estate professionals. Running in tandem with the exhibition is the Cityscape Awards for Emerging Market in 13 categories.

Meraas La Mer Jumeirah
Meraas is building a theme park and Bluewaters Island launched at La Mer, a mixed-use development which is likely to come up in Jumeirah and in the vicinity of Pearl Jumeirah Island.
Construction is due to commence in fourth quarter of 2014, the developer said, which is also building theme parks and Bluewater Island.

La Mer will spread across 9.5million square feet of existing and reclaimed land comprising four distinct zones – the beach, entertainment hub, leisure hub, North and South Island and feature leisure, commercial, residential and hospitality components. La Mer will include fully integrated residential neighbourhoods that will have 688 apartments and villas and a 160 key hotel.

Deyaar
The Deyaar development has unveiled ‘Midtown’ a 5.5million square feet upscale master development, adjacent to the southern end of Jumeirah Golf Estates. Deyaar will include 27 buildings, two hotels on the northern and southern tips, 13 separate residential buildings on the eastern side of the development and 12 buildings clustered into four groups. Three buildings are joined into one group on the west side of the master-plan and all the 27 buildings will share a one-level podium covering parking, retail and essential services.

Nakheel
Nakheel launched the ‘The Palm Gateway’, a three-tower waterfront living and leisure complex with more than 1300 homes, retail, a beach club, dining and health and fitness amenities.

The Palm Gateway comprises three individually designed high-rise residential buildings, the tallest topping 260m with single, double and triple bedroom apartments available for lease. The towers will be built on the existing Palm Monorail Gateway terminal, the roof of which, will be transformed into a 15th floor podium with infinity pool, sports facilities, shops set in huge landscaped grounds. The Palm Gateway will also have beach club and park, a shaded landscaped complex with a range of waterfront dining and shopping options, barbecue areas, pool, and fitness amenities, including jogging tracks.

Friday, September 19, 2014

Marwa Homes Phase One to be delivered by December 2014

The Cityscape Dubai 2014 will witness the launch of ‘Marwa Homes Phase 1’, the new and unique townhouses on sale in Dubai, with handover in three months.

The ‘Marwa Homes’  is the latest and most exciting housing project by New World Development LLC till date. The Marwa Homes Phase 1 includes a series of unique townhouses due for delivery by December this year, with 75 percent of theproject already complete.

The series of 14 uniquely designed townhouses, each with four well-designed rooms, a maid room, a terrace garden, is a one-off housing project located in the vibrant Jumeirah Village Community. The unique and stylish designs, luxury finishing, and easily accessible audio and video integrated intercom system makes this a special offering.

New World Development LLC is offering this Dh.600mn investment opportunity in the form of Marwa Homes (G+2 townhouses), Marwa Heights (G+10) residential tower, and Marwa Views (Towers A, B, C, D – G+4), located in Meydan, Dubai, all due for completion over the next two years.

Heading this huge development is ‘Crystal Bright Real Estate’ armed with years of experience and deep understanding and involvement with prime luxury properties in Dubai.

Further, to facilitate mortgage payment options for prospective home owners, the developer is offering easy payment plan of 25 percent down payment with remaining at the time of delivery, offering prospective home owners the opportunity to financially secure their dream home.

The Cityscape Dubai 2014 is one of the most significant exhibitions as it would mark the launch of a leading project Marwa Homes, said Mohammad Haroon Habib, the Director of New World Development LLC.

The success of Marwa Homes will lead to the success of Marwa brand, an opportunity worth Dh.600million, which will be made available over the coming two years, Habib said.
Marwa Properties would be located in Meydan and Jumeirah Village. The Marwa Homes Phase One would be delivered before the year-end, he affirmed.

Tuesday, September 02, 2014

New three-tower residential project to come up at DuBiotech

Deyaar, the leading Dubai-based developer has announced the launch of Montrose, a three-tower residential and hotel apartment project, located at DuBiotech Life.

The project comprises three towers – a hotel apartment, and two residential towers, named after ‘Mountain Rose’, the captivating flower.

The towers are likely to take shape in DuBiotech, a life sciences group, under Tecom Investments, and are among the greenest corridors at the extension of Umm Suqeim, towards Mohammed bin Zayed Road. The new project is just seven-minute drive from Mall of Emirates, located adjacent to Miracle Garden and 20 minutes away from Dubai Mall.

Each of the towers comprises three basement levels and 19 storeys. Two residential towers feature 68 single bedroom, 68 double bedroom and five triple bedrooms and two four bedroom apartments, the statement said.

The hotel apartment tower has been designed to include 88 studios, 68 single bedroom and 24 double bedroom units.

The housing units at Montrose will open for sale on 6th September at Deyaar’s new sales and service centre in the Burlington Tower, Business Bay.

Being the latest development address by Deyaar, the development caters to the growing need for residential and well-appointed service apartments in Dubai.  The company has forayed into this sector, mostly due to Dubai’s projection of attracting more than 20million visitors during Expo 2020.

The location of this urban upscale community has been deliberately chosen to appeal to potential investors and buyers, said the CEO of Montroe, Saeed Al Qatarmi.

He described Montrose to be a strategic project inspired by a blend of harmonious style and comfort living. The new project is sure to be another benchmark of excellence for Deyaar and emphasizes its continued industry leadership, he said.

Al Qatami said that individuals seeking to invest in Montrose can pre-register and express interest. Deyaar is offering flexi payment plans with minimal down payment, which is as low as five percent, he said.

Residents here can enjoy common amenities including landscaped garden, outdoor sitting area, kids’ play area and state-of-the-art gymnasium. Each of the tower will house a rooftop infinity swimming pool, a 24-hour concierge, an access control system, a fire-fighting alarm system, central air conditioning and CCTV surveillance.

Boasting of a health club and a restaurant, the hotel apartment will be equipped to offer high-speed internet connectivity, the company said in its statement.

Monday, August 18, 2014

MAF to build new Dh 275mn City Centre mall in Dubai

The Dubai-based retail, hospitality and leisure company, Majid Al Futtaim announced its plans to build City Centre Me’aisem, a community-focussed mall. At present, there are 13 City Centre malls in the region. The first phase of the latest City Centre shopping mall in Dubai will cost Dh.275million, the company statement revealed.

The retail mix of the mall would serve the immediate needs of residents and working professionals, said Executive Managing Director of shopping malls at MAF Properties, Dimitri Vazelakis.

Located within an area spanning one million square feet, the mall would be located in Me’aisem area at the Dubai International Media Production Zone (IMPZ), the site developed by Tecom Investments, spans 43 million square feet. The mall would be located at the intersection of Shaikh Mohamned bin Zayed Road in IMPZ and Al Khail Road.

The phase 2 of City Centre Me’aisem will cater to the population growth during the forthcoming Expo 2020, with emerging areas like Victory Heights, IMPZ, Jumeirah Golf Estates, Jumeirah Village Circle and Jumeirah Village Triangle, developing further.

City Centre Me’aisem will be built by Brookfield Muliplex, the international contractor. Construction of the new mall would be in two phases. Phase one will be ready by third quarter of 2015, offering 60 international outlets. The construction would allow scope for further expansions until 2020.

City Centre Me’aisem will include lifestyle brands, fashion, and a Carrefour hypermarket, spanning an area of 6,243 square feet with restaurants, fast-fold chains, restaurants, convenience stores, cafes and medical clinic.

The development forms part of Dh.3million investment by the company to expand its Dubai operations over the next five years. The Head of Research and Consultancy for UAE at CBRE, Mat Green, said that MAF’s new mall may fill the retail gap in IMPZ.

The mall may have local fashion brands, but, the focus will be on convenience stores. City Centre Me’aisem will serve residents of Jumeirah Golf Estates, Victory Heights, Jumeirah Village Triangle, Jumeirah Village Circle, Arabian Ranches and Motor City, apart from employees in IMPZ commercial zone, MAF said.

Monday, August 11, 2014

Royal Estates project officially launched in Jumeirah

The Dh.2.3bn Royal Estates project has been officially launched by Bollywood Superstar Shah Rukh Khan during an event held in Madinat Jumeirah in Dubai.

The development is a collaboration between Aristocratic Star, Pal Developments, and Pacific Ventures, a statement said.

The 2.3mn sq. ft. gated community is located in Dubai Investments Park, adjacent to the Expo 2020, and features 2000 units comprising two, four and five bedroom townhouses, apartments, boutique retail spaces, an office complex and luxury hotel.

Mr. Khan expressed his delight to be associated with the project and said that Royal Estates ensures uncompromised comfort, safety and elegance and state-of –the-art landscaped serenity that weaves a stellar community.

The Director of Pal Developments, Atiq Merchant, said that the Royal Estates, which is a unique project, promises to be a lucrative combination of residential, investment and commercial haven.

Tony Ashai, the celebrity architect, speaking about Dubai said that Dubai is an energetic city with a regal touch, which inspires elegance and stylised sophistication. The property market here is positive, and this is the time when business owners and investors seek to enjoy the plush vibe of the city. These factors have been taken into consideration when designing this project, offering a blend of homely comfort and luxury.
The project sales began on 7th August. The phase 1 of the project includes 400 units to be delivered during first quarter of 2015. The apartment units start at Dh.450,000 and townhouses from Dh.1.6mn onwards.

Tuesday, July 22, 2014

New gated community launched in Dubai Sports City

SOL Properties, a subsidiary of Bhatia Group has launched an exclusive gated community ‘Bloomingdale’ in Dubai Sports City. Offering prestigious lifestyle amenities in a superb location, this development comprises 72 units with four and five bedroom villas at affordable rates.

The location is in proximity to Sheikh Zayed Road, Mall of Emirates, Dubai Marina and Dubai Airport.
After the success of more than 250 projects, including small site developments and large government ventures, experts now present this remarkable community to residents of Dubai.

Bloomingdale’s 72 residential villas are equipped with elegant Italian appliances, spacious living spaces, open plan design, huge rooftop terraces, built-in wardrobes and premium fixtures and fittings. Safety and security of its residents have also been taken into account when planning the project.

The five bedroom villas have a built-up area of 3,331 sq. ft. with an additional 539 sq. ft. terrace space, while the four bedroom villas are spread across 3,195 sq. ft with 439 sq. ft of terrace space.

The development's show villa have been flocked by buyers with several of them attracted by the easy payment options that require a 10 percent down payment, 10 percent after three months and 80 percent on completion, towards March 2015.

SOL Properties has already successfully delivered several other townhouse projects like Iris Park, Mulberry Park, Valencia Park, Lotus Par, Tulip Park and Orchid Park in Jumeirah Village Circle and Silicon Avenue in Silicon Oasis.

The Bloomingdale project is excellent in terms of its well-designed units, layout and finishing, and is ideal for both investors and home-buyers with great potential for income, says Pavan Batavia, Director of Synergy Properties.

Further, the development, being located in Dubai Sports City, residents can also access other public amenities, including sports and leisure activities, and offers easy access to rest of the emirate.

Thursday, June 19, 2014

Dubai is safest in the world to invest in luxury properties: Damac

Dubai is one of the safest places in the world when investing in luxury real estate, given, its increased regulation and transparency, leading developer Damac Properties pointed out.

With growing interest in Dubai properties from African investors, Damac is launching a brief campaign across the region which highlights the investment opportunities in the emirate, with prices of luxury properties starting from $149,000.

As per the latest index by Knight Frank, Dubai recorded a strong growth last year, with rentals being 14 percent higher towards end of 2013, partly due to stringent investment regulation, which added to the perception of Dubai being a ‘safe-haven’ in the Middle East.

Dubai is also working towards creating a transparent process for buyers and tenants to increase their confidence in the market and make it easier for international clients to carry on business in the real estate sector in the emirate, said Niall McLoughlin, Senior VP, Damac.

Now there is increased investment from African buyers who seek to capitalise on the tax-free income and stable economy.

Based on latest rules in Dubai, developers should now provide four key documents to any buyer including the title deed of the project, details of Escrow account dedicated to the project, deal with main contractor and approvals from Dubai Land Department and RERA (Real Estate Regulatory Authority) to launch the project.

The Knight Frank report further said that prices for prime residential locations may rise by 15 percent this year, as they are still one-third below their previous peak. With Dubai’s announcement about World Expo 2020, prices will rise further, and tourism numbers would increase to 20 million over next six years.

The company also launched a dedicated website for investors who are interested in knowing more about Dubai, and the regulations and opportunities. The site also details latest trend in property market, apart from videos of most famous landmarks in Dubai.

Tuesday, June 17, 2014

New fee, regulations & restrictions to curb off-plan property sales

Dubai is planning to introduce new fee and restrictions to curb sale of off-plan properties, the International Monetary Fund (IMF) revealed.

As per the latest IMF report, Dubai will be imposing additional fee and restrictions on resale of off-plan properties, as that would further discourage speculative demand.

The report said that the increase in real estate registration fee from 2 to 4 percent last October, and introduction of regulatory measures to ensure orderly market conditions for new real estate development, has been a welcome step.

When looking at the past international experiences, often countries that faced property booms repeatedly raised real estate fee and differentiated them with criteria such as buyer’s residency, use of property for occupancy or investment, or time elapsed before resale, etc.

The measures that the Dubai Land Department (DLD) plans to adopt is not yet known, sources in the market say that the move will be to introduce slab-wise registration fee.

The plan is to introduce new fees/measures on a sliding scale, and that is what the market requires in case of speculative activity, said Craig Plumb, Head of Research, JLL, MENA.

Property prices are going up, mostly driven by speculators in off-plan projects. More regulations may be required to discourage speculators, he said.

The Chief Executive Officer of PropSquare Real Estate, Parvees Gafur said that the new fee would be good for the market in the long-term, but the market is no longer driven by speculators, and mostly involves the end-users.

Moreover, many major UAE developers like Emaar, Aldar and Nakheel are not allowing investors to sell a property unless they pay 40 to 60 percent of the property value.

The UAE Central Bank, early this month, said that low residential rental yields in Dubai and Abu Dhabi indicates the imbalances and overheating in the property sector, with both emirates showing current average rental yields of 70 and 130 basis points respectively below historical averages, which indicates imbalances and an overheating real estate market.

The UK-based research house, Global Property Guide, said that Dubai has topped the list of house price survey for the fifth consecutive quarter, with house prices rising 31.57 percent during the year to first quarter 2014 and 9.58 percent in first quarter alone.

Tuesday, June 10, 2014

Cancelled projects in Dubai officially listed

The Dubai Courts has placed a list of developers and their cancelled projects. This is the first time that Dubai’s Real Estate Regulatory Agency (RETA) is officially publishing the list of cancelled projects.

The court’s website lists 36 cancelled projects by eighteen developers.  Here’s the list of developers and cancelled projects:

Remah Holding Limited

  • Tower 88


High Rise Properties LLC

  • Dorna Tower
  • Orchid Residences
  • The Heights-Golden
  • Waves Business Tower
  • The Heights-Silver
  • Rotating Residence
  • Heigh Rise Boulevard1
  • Heigh Rise Boulevard2
  • Alternative Capital Invest Gmbh
  • Wings Of Arabia
  • Khyool Investment Llc
  • Abjar Tower
  • Faras 2


Makaseb Properties

  • Rufi Tower (Quattro)
  • Archery Tower
  • Rufi Lake View
  • Quattro West


Dheeraj & East Coast Llc

  • Cascade Manor


Merwess Abdulaziz

  • Azizi Feirouz I
  • Azizi Feirouz II
  • Azizi Feirouz III
  • Azizi Fountanne Tower


Bux Holdings Limited

  • Beti Ul Funoon


Cliff Dwellings Enterprises Ltd

  • Global Golf Residence


Parshwa Holdings Limited

  • Sapphire


Galadari Investment Office Limited

  • G-Office Tower


Escan Real Estate PJS

  • Escan Tower


ME Development Llc

  • Windsor Residence


IR Investments Holding Company Limited

  • Tonino Lamborghini-Elettra Residence


Orbit Holdings Ltd

  • Orbrit Holding


Al Zahra Properties

  • Eden 1
  • Eden 2
  • Sunset Gardens B
  • Sunset Gardens A
  • Sunrise 2


Hampstead & Mayfair Development Limited

  • Hampstead Residences


Zenith Real Estate Development Llc

  • Zenith Tower A3


Dubai Courts, on its website, states the committee will begin its first stage of agenda on the above-mentioned list of cancelled projects. The last date for submission of the manual or electronic applications by investors is 31st August 2014.

Investors can register manually by visiting Dubai Courts in the evenings from 2.30 pm to 7.30pm on the main building central services hall on the first floor or electronically by clicking on the name of the project and then filling in the data, the Court said.

Back in July 2013, Dubai issued Decree No.21, establishing a special legal committee for liquidation of cancelled real estate projects and settlement of rights and disputes pertaining to such projects.

Earlier, RERA officials had refused to release list of cancelled projects in Dubai, as the investors were personally notified about cancellations. Now, property experts have called for release of information on cancelled projects.

Further, RERA data reveals 187 projects have been since the beginning of 2009, with 253 projects on hold, and 232 projects to be completed soon.

Monday, June 02, 2014

Emaar to launch second phase of iconic BLVD Crescent Downtown Dubai

Leading real estate developer Emaar Properties has announced the launch of second phase of its new iconic BLVD Crescent in Downtown Dubai.

Featuring 38 storey and 20 storey towers on a podium in the Mohammed bin Rashid Boulevard podium, the carefully landscaped podium level of the development features interlinked waterways and pools of varying depths, lounge decks that offer intimate outdoor seating areas and zones, infinity pool that leads to the dynamic edge below.

With Downtown Dubai already being one of the most sought-after addresses in the world, the new vibrant destination is the place where they can work, live, play and shop. The second phase of BLVD Crescent makes a strong addition to this thriving community, said Ahmed Al Matrooshi, the Managing Director of Emaar.

The Chief Commercial Officer at Emaar, Arif Amiri said that BLVD Crescent Tower II follows the successful launch of its first tower in Dubai, Abu Dhabi, Almaty and Shanghai early this year, which once again reflects the growing real estate sector in the city.

The Crescent Tower II will be simultaneously launched in three cities – Dubai, Kuwait City and Abu Dhabi. Online registrations would begin on 4th June at www.emaar.com. Sales will be held from 9am on 7th June at Emaar Pavilion at Mohammed bin Rashid Boulevard in Dubai, the Emaar Sales Centre in Abu Dhabi’s Al Nahda Tower, The Regency in Kuwait City, Al Tawoon Street’s Al Bida’a, and Salmiyaat.

Long-term investors and end-users are being offered the opportunity to register for Emaar Preferred Access Programme. The investors who make at least 30 percent down payment of the total value of property and maintain ownership until handover is completed, will be offered preferred access and opportunity to own homes, subject to conditions, through this new customer-oriented initiative. Interested investors and end-users can skip the line and register for the programme even on the day of launch.

For more details on the second phase of BLVD Crescent, contact +97 14 3661688

Thursday, May 22, 2014

Shamal Community development project receives overwhelming investor response

Lootah Real Estate Development, a high-end Dubai-based real estate company, has received overwhelming investor response for its Dh.350mn Shamal Community development in Dubai.

The sale of first phase of the development has been highly successful with 40 percent bookings of Shamal apartments, billas and lofts, Lootah said.

The Shamal Community project comprises more than 1050 units including villas, studio and lofts spanning an area of 147,000 sq ft.

The first phase of the project offers Shamal Terraces with 30 villas, Shamal Residences with 204 studio and 55 loft apartments. Residential units of first two buildings at Shamal Residences are now up for sale with price beginning with Dh.632,400 for studio measuring 527 sq ft.

According to the company Executive Director, Saleh Abdullah Lootah, the 40 percent bookings of Shamal apartments, villas and lofts are a testament that investors do not compromise on quality lifestyle and choose projects offered by established developers.

Each unit here features high ceilings, large glass sliding doors, spacious living areas, expansive terraces, attached bathrooms, modern kitchen, fully equipped gym, swimming pools, sauna, car garage, round the clock maintenance and concierge for the whole community.

Shamal Community project would be delivered within 20 months. The easy-to-avail payment plan of Shamal studios is 10 percent on booking, 10 percent after three months, 10 percent in next three months, 20 percent based on construction progress and rest 50 percent at the time of handover in 2016, Lootah said.

Thursday, April 17, 2014

Emaar to launch Mira Oasis Townhomes in Reem

The Dubai-based master developer, Emaar Properties, have announced the launch of new collection of Mira Oasis Townhomes in Reem, which follows the earlier launch of Dh 988,888 Miratownhouses on 13th April 2013.

Reem is a master-planned neighbourhood located in proximity to Arabian Ranches at the crossroads of Al Qudra Road and Emirates Road.

Emaar said that the new launch follows strong investor demand to earlier launches of Mira Oasis residences, wherein several hundred townhouses were snapped up by investors and end-users early this year.

This new phase of Mira Oasis includes 480 triple and four bedroom townhouses. Located along the Arabian Ranches, Mira oasis will also feature a school, a retail plaza, a Mosque, all lined by walkways and bicycle pathways. Sales will be launched simultaneously in Dubai, Abu Dhabi, and Karachi at www.emaar.com.

Sales will be held on 19th April at 10am in Dubai (at Emaar Pavilion, Downtown) and Abu Dhabi (Emaar Sales Centre at Al Nahda Tower). The sale in Karachi will take place at 11am at the Crescent Bay Emaar Sales centre.

Emaar is also offering long-term investors and end-users the opportunity to register for ‘Emaar Preferred Access Programme’. Investors, who make down-payment of 30percent of the total value of property and maintain ownership until handover is completed, will be offered preferred access and opportunity to own homes, subject to conditions, through its new customer-oriented initiative. Interested investors can event register for the programme on the day of launch.

Emaar also said that residents of Mira oasis will have accessibility to several leisure activities including rock climbing wall, Skate Park for adventures, Cricket Pitch, go-kart track, Football field, dune-park for surfing, camel riding, dune-bugging and camping.

Located at the heart of the development is a Central Park with interactive fountains, walkways, captivating water features, a large botanical park all of which, showcases the diverse flora in the region.

The Chief Commercial officer of Emaar, Arif Amiri, said that Reem has defined its credentials as the most sought-after residential projects in Dubai. The launch of Mira Oasis has generated huge interest from international investors too, and is an ideal place for families seeking a relaxed lifestyle that is in sync with nature. This latest launch by Emaar once again confirms the company’s focus on offering an attractive range of residential choices in Dubai.

Wednesday, April 16, 2014

Nakheel invites bids for Palm Jumeirah Crescent Boardwalk

Leading Dubai-based real estate developer, Nakheel has invited tenders for a new attraction that will stretch the entire length of the outer breakwater of Palm Jumeirahs Crescent.

The pedestrian pathway, namely, The Boardwalk, will stretch 11km and will be 6m wide, and will be a leisure and entertainment destination for residents and tourists alike.

It would feature 100m piers that stretch into the waters of Gulf and offer excellent views of the Palm Jumeirah and Dubai skyline.

The work would include designing and building an elevated boardwalk on the outer side of the Palm Jumeirah Crescent, with additional modification works to the existing breakwater, two piled deck piers including restaurant buildings.

To obtain the tender document, a non-refundable tender fee of Dh.30,000 will have to be submitted from 20th April at Nami offices in Dubai. 28th May 2014 is the deadline for submission of completed bids.

Monday, April 07, 2014

Vision tower at Business Bay top office deals in Dubai

Business Bay has topped the list of top 10 biggest office deals completed during the first quarter of 2014 in Dubai, with Dh 15mn transaction in Vision Tower in Business Bay.

The information provided by Reidin.com reveals that Business Bay and Jumeirah Lakes Towers (JLT) each shared the honour of registering the four biggest transactions of top 10 deals with Tecom C registering two transactions.

A 10,195 sq. ft. office located in Vision Tower topped the list with a Dh.15mn deal, followed by sale of a 6,091 sq. ft unit in the same tower for Dh.8.67mn, taking the second spot.

The third place was for Almas Tower at JLT, spanning 3,314 sq. ft. being sold for Dh.7.17mn.
iRise Tower in Tecom C witnessed fourth and fifth largest transactions with units sold for Dh.6.80mn and Dh.6.35 mn respectively.

An office unit that covers 5,778 sq. ft. in JLT was sixth on the list with Dh.5.70million transaction value, while the Plaza Boutique at Business Bay stood seventh with sale value of Dh.5.15mn.

This was followed by Executive Towers and Towers D at Business Bay, and Almas Tower in JLT being sold at Dh.5.07mn, Dh.4.53mn and Dh.4.49mn respectively.

Reidin.com is the exclusive primary data source for property markets in the emerging economy.

Nearly half of the forthcoming office supplies will be located in Business Bay, while other areas that are likely to see considerable completions by 2016 include Dubai International Financial Centre, Dubai Design District, JLT and Dubai World Central.

Friday, April 04, 2014

Tamweel Tower all set to begin restoration works with RERA's approval

Tamweel Tower is ready to be restored after 16 months of being partially engulfed by fire in November 2012.

A major fire had engulfed the mixed-use tower at 2am on 1\8th November 2012, which left hundreds of families homeless. Investigations reveal that a discarded cigarette butt that fell on a pile of waste was the cause of fire.

According to the Board of Owners Association (OA), the 34-storey building in Jumeirah Lakes Towers (JLT) officially invited contractors’ participation in the tender to restore the building. The move was made following series of legal hurdles and procedures from various agencies.

According to an e-mailed statement from the association, RERA has approved the request by the association to open an Escrow Account under its name. Once formalized, the association can begin awarding contracts.
According to the OA statement, this is a positive step for owners, as when the account is opened and details are transmitted to RERA, a full certificate of OA registration will be issued. This will enable OA to sign contractors to begin restoration process.

The Tamweel Towers is a freehold property, owned by finance company Tamweel, and several other owners. Although the OA was re-elected in 2012 to co-ordinate restoration of the building, the association was not fully recognized by RERA at that time. Therefore, it did not have the legal capacity to decide on the interest of the owners and residents, nor sign contracts for building repairs. With green light from RERA now, all that will change.

The OA has been assured that the funds from the insurers would be channelled into the newly opened account, thereby, enabling them to pay easily for complete restoration. The insurance cover has been confirmed to be more than sufficient for restoration works.

Although there is no specific time-frame for restoration process as yet, the final contract is likely to be awarded in next six to eight weeks. At least 70 residential flats, four commercial offices, two retail offices on the first floor and common areas at the top floors will be restored.

Monday, March 31, 2014

Emaar launches new Samara Villas at Arabian Ranches

Leading Dubai-based developer Emaar Properties PJSC has launched Samara Villas in Arabian Ranches. Launched due to the strong investor interest for homes within the Arabian Ranches, this is the latest addition to the current expansion of the established community.

The villas draw inspiration from the Spanish coastal architecture, and feature 177 triple to five bedroom villas, offered in four different styles, that are suitable for families looking out for a relaxed lifestyle in one of the most sought-after communities in Dubai.

Residents can take advantage of the large retail centre, the specialty food and beverage outlets, dedicated healthcare centre, salon, day care centre and schools within the community.

The Managing Director of Emaar, Ahmad Al Matrooshi, said Samara offeres families with wonderful choice of villas that suite their lifestyle needs. The launch of ‘Samara Villas’ emphasizes the growing demand for family-oriented communities in Dubai.

The Chief Commercial Officer of Emaar, Arif Amiri, said that each residential community in Arabian Ranches has recorded strong investor demand. With the launch of ‘Samara’, investors are offered another opportunity to be part of Emaar’s fully established communities featuring a polo club, a golf course and a resident’s club.
Located along the crossroads of Al Qudra and Sheikh Mohammed bin Zayed Road, the Samara Villas will offer residents easy access to main hubs in Dubai such as the Dubai Media City, Dubai Marina and Dubai Internet City.

Emaar is also offering long-term investors and end-users the opportunity to benefit from the Emaar Preferred Access Programme. Investors can make a down payment of 30 percent of the total value of the property, and maintain ownership until the handover is complete. They will be offered preferred access and opportunity to own homes, based on conditions. But, through this new customer-oriented initiative, interested investors and end-users can skip the line and register for the programme even on the day of launch.

Emaar is launching ‘Samara Villas’ simultaneously in Dubai and Abu Dhabi. The online registration will be open from 10am on 2nd April at www.emaar.com. The sales will be held on 5th April at 10am at Emaar Pavilion on Mohammed bin Rashid Boulevard in Dubai and at the Emaar Sales Centre in Al Nahda Tower in Abu Dhabi.

For more details on ‘Samara’ in Arabian Ranches, contact +9714 3661688 or 800 36227 or email to globalsales@emaar.ae.

Thursday, March 27, 2014

Dubai high-rises continue to attract domestic and international visitors

The trend of high-rise living and ‘desirable’ vistas in Dubai, is increasingly drawing interest from domestic and international buyers, resulting in constant effort by developers to position buildings in areas that maximise views of Gulf or sweeping skylines that criss-cross the city.

Dubai continues to add to its huge skyline with several buildings that are more than 300m tall, including Damac Residence (335m), The Address The Boulevard (370m), Dream Dubai Marina (432m), Al Habtoor City Towers (300m) and Al Attar Tower (342m).

Majority of these will be additions to Downtown Dubai and Dubai Marina skylines, adding ‘vista-values’ to submarkets and offering more options for buyers in search of a home with view, a real estate expert said.
The 828m Burj Khalifa, and the adjoining Dubai Fountain, positioned at the heart of Downtown Dubai are among the city’s most sought-after vistas, says Faisal Durrani, Associate at Cluttons. This is further reflected at the capital value premiums of nearly 45 percent of apartments with direct unobstructed views of the Dubai Fountain and Burj Khalifa within the one square kilometre Downtown Dubai district.

Further down the coast, residents of apartments along the trunk of Palm Jumeirah can pay premiums at similar levels for ownership of homes facing the east, which overlook the sea, the Burj Al Arab, the Sheikh Zayed Road and Downtown Dubai skyline in the distance, Durrani said.

Within Dubai Marina, buyers of properties in the inner circle of residential skyscrapers look directly into the largest man-made marina in the world, expecting to pay nearly a third more than similar properties overlooking surrounding buildings, without views of the sea or marina.        

Dubai’s incredible skyline and living with gated community with views of open green spaces continue to grow, with several inland suburban communities witnessing a flurry of bolt on developments, as developers continue to focus on communities with proven buyer demand.  

The larger villas overlook golf courses, and although less prominent than high-rise living, one-fifth of these are higher than those without views of open green spaces, such as those in Arabian Ranches, which is 14km inland from the coast, Durrani said.

Monday, March 17, 2014

Dubai property prices surge 35 percent last year

Real estate prices in Dubai surged by 35 percent last year, according to latest report by the Global House Price Index, a UK-based consultancy.

According to the report, prices jumped by 34.8 percent during the 12-month period in 2013 (Q4 2012 to Q4 2013), and said that the mainstream prices continue to remain 25 percent below their 2008 peak.

Dubai recorded the largest annual rise in mainstream real estate prices, with prices having grown 15.3 percent during the six-month period, the report said.

During the month of February, Jones Lang LaSalle (JLL), the real estate consultancy said that prices were below the 2008 peak, and will touch the peak in the next 10 to 18 month time.

According to Craig Plumb, Head of Research, JLL-Mena, in certain locations the prices have touched the 2008 level, but overall, the prices will reach that level in the next 10 to 18 months.

In the past, Standard Chartered and Goldman Sach Group said that the growth of real estate market in Dubai has been sustainable and there has been no fear of a property crash.

Meanwhile, the Knight Frank price index shows that China and Taiwan came second and third on the list, recording 28 percent and 15 percent growth respectively. Out of the 56 countries recorded in the index, 39 countries showed positive annual price growth last year, in comparison to 27 countries in 2012.

Knight Frank revealed that the headline global index depends on each country’s GDP, which implies that the movement of house prices in the China and US have a great impact on index’s performance.

Tuesday, March 11, 2014

Silicon Park Project launched in Dubai Silicon Oasis

Dubai Silicon Oasis Authority (DSOA), the regulatory body for Dubai Silicon Oasis (DSO), the integrated free zone technology park, launched on Sunday, the ‘Silicon Park’, the first integrated smart city project to be built in DSO, worth Dh.1.1bn.

Spanning an area of 150,000 square metres, work has already begun and the project is likely to be completed by Q4 of 2017.  The project is in-line with vision of HH Sheikh Mohammed bin Rashid Al Maktoum, the Vice President and Prime Minister of UAE and Ruler of Dubai, aimed at transforming Dubai into smartest city in the world within next three years.

The project also is in-line with Dubai’s Vision 2021 aimed at transforming the emirate into a smart city, while ensuring that it is on par with latest global trends for smart cities. The project offers a contemporary lifestyle for residents, workers and visitors. The project standards are in-line with government strategies for smart cities focusing on six key elements - life, mobility, economy, society, governance and environment.

The Silicon Park project spans 97,000sqm of office space, 25,000sqm of commercial space and 20,000 sqm of residential space, apart from 115 rooms, business hotels, in addition to value-added facilities that suit contemporary living such as restaurants, cafes, health and fitness centres, running tracks, cycling trails, prayer rooms, shopping centre and underground parking for more than 2500 cars.

The project is compliant with UAE Green Building Regulations and Specifications and the international LEED standard and seeks to improve environmental sustainability. The project will be built with ‘green’ building material and control mechanisms, and solar panels and double-glazed windows to reduce heat absorption.

The buildings are topped with green roofs that include plants and trees with minimal irrigation and make use of direct sunlight on the buildings. The project will use renewable energy resources and will apply measures to achieve efficiency in energy consumption.

Further, it will feature smart lighting systems with motion sensor systems that respond to traffic and individuals. The smart street light poles will have digital signboards which can be remotely controlled. The project will include advanced technologies to support controlling water consumption using recycling procedures at homes and offices so that it can be used for irrigation purposes to minimize ecological imbalance.

The park will also features various intelligent solutions and other public amenities.

Thursday, February 27, 2014

Mulberry homes launched for sale at Park Heights

The Mulberry at Park Heights, the first residential apartment complex in Dubai Hills Estate, and the city of future, developed by Meraas Holding and Emaar Properties joint venture at Mohammed Bin Rashid City (MBR City), has been launched for sale.

The ‘Mulberry’ is located amidst green verdant landscape and features first-of-its-kind, elegantly designed common terrace areas, wherein families can get together or enjoy views of the green park.

There are about 330 elegantly designed, premier quality apartments, ideal for families, which are in proximity to the 18-hole golf course championship. The homes are fitted with premium finishes and excellent amenities, located in the mid-rise complexes amidst the lush green park.

Apart from offering an integrated lifestyle, residents of the ‘Mulberry’, can also enjoy a range of lifestyle choices, including tennis academy, outdoor pool for adults and kids, jogging, bicycle tracks and more.
They also get to enjoy accessibility to major shopping malls, hotels, multipurpose hall, healthcare and fitness amenities, steam and sauna rooms, children play area and family spaces.

The elegant lobby features an open courtyard with water features. The bedrooms and living rooms receive plenty of natural light during the day and relaxing outdoor views can be enjoyed at night.

The Managing Director of Emaar, Ahmad Al Matrooshi said that Dubai Hills Estate is an ambitious master-plan development in MBR City. It is a remarkable urban development that complements Dubai’s infrastructure development, in preparation for hosting the World Expo 2020. This is designed to meet the growing needs of the city.

The first residential apartment in the community offers investors a solid opportunity to be a part of the dynamic future hubs of the city, said Al Matrooshi.

The sale of the ‘Mulberry’ has been launched simultaneously in Dubai, Abu Dhabi and London, apart from showcases in Kuwait and Riyadh.

Online registrations are open for customers in Dubai and Abu Dhabi. At London, and in showcases in Riyadh and Kuwait, sales will be on first-come-first-serve basis.

According to Emaar CEO, Arif Amir, the project is a strong value proposal for long-term investors, offering them the opportunity to be part of region’s largest real estate project.

Thursday, February 20, 2014

New Mira Oasis townhouse community launched at Reem

Emaar Properties has launched Mira Oasis, a new contemporary townhouse community, within Reem, a master-planned neighbourhood.

Located near Arabian Ranches at crossroads of Emirates Road and Al Qudra Road, Reem is a master development with several amenities including desert botanical park, sand surfing and camel riding trails, dune buggies, go-karting track, cricket pitch, rock climbing wall, soccer field and skate park.
The development is anchored by a majestic central park with interactive fountains, walkways, and captivating water feature.

The launch of Mira Oasis follows strong investor response to Mira, the first residential project in Reem, says Emaar.

Mira Oasis offers 411 townhouses, designed to meet best standards and inspired by contemporary styles. These have large balconies, modern fittings and fixtures, driveways and courtyards. The three and four bedroom residences here are ideal for families, with each home offering ample privacy.

The Reem community also include cycling and walking pathways, which offers a relaxed lifestyle ambience and promotes active outdoor lifestyle of residents. Moreover, schools, retail plazas and Mosques are in close proximity and offers quality of life to residences.

According to Managing Director of Emaar, Mira Oasis in Reem is the ultimate gateway for a relaxed lifestyle, with a range of outdoor sports and leisure activities. Reem is bringing in a new concept to urban neighbourhoods.

The Chief Commercial Officer of Emaar, Arif Amiri, said that due to strong interest from international markets for Mira homes, an international sales launch for potential investors in Saudi Arabia and Pakistan would be marked.

The sale will be done on first-com first-served basis on 22nd February 2014 at 10am in Emaar Downtown, Dubai, Emaar Sales Centre at Al Nahda Tower in Abu Dhabi, Jeddah Gate Sales Centre in Jeddah and Marriott hotel in Islamabad.

Tuesday, February 18, 2014

UAE property market resurgent with series of project launches in 2014

The UAE real estate market is once again in its boom phase, given, it’s strong economic fundamentals, the safe haven status, and interest from regional and international investors, all of which is encouraging more developers to launch projects in Dubai.

Since early this year, Emaar Properties, the largest developer in Dubai, has launched five new projects, while Nakheel has announced sale for land plots in master developments.

Driven by demand and growth prospects, and with others joining the bandwagon, Dubai Investments, a diversified investment conglomerate, has also announced plans to launch projects worth Dh.3.5bn this year, while Orion Real Estate Development has announced investment of Dh.500mn in property developments.
Speaking about the project launches, the Chief Executive Officer of Dubai Investments, Khalid bin Kalban, said that the company will launch phase 3 of Green Community, a Dh.500 million project, and will re-launch Mirdiff Hills, a Dh.3bn project this year.

The Phase 3 of Green Community will have about 250 units, out of which, 200 would be villas. Further, the company plans to revise the concept of Mirdiff Hills and work on this project would begin after the third quarter, Kalban said.

During its launch in 2008, Mirdiff Hills was planned to be a mixed-use development comprising 680 apartments, 380 offices and 129 retail outlets. However, following the global financial crisis in 2009, the project was put on hold.

Dubai Investments has one of the largest land banks in UAE, spanning about 30 million square feet of gross floor area, owned by its subsidiaries like Dubai Investments Park, Dubai Investment Real Estate Company, Al Taif Investments and its joint venture Properties Investments.

The property market in the UAE is now amidst strong growth, which indicates its sound fundamentals and overall investor and business confidence across all sectors including aviation, tourism, retail, hospitality and trade, Kalban pointed out.

The development projects planned in UAE by various developers are as listed below:

MAG Group
A real estate developer, MAG Group, launched Dh.800mn worth of mixed-use project in Dubai Healthcare City. The project has been developed together with Dubai Healthcare City, and will include two hospitals spanning 260,000 square feet, an 80,000 square feet clinic, a residential complex of four buildings with total gross floor area of 430,000 square feet, a hotel apartment and retail space. The project is hoped to be ready by 2016.

Orion Real Estate
Orion Holdings has announced launch of Orion Real Estate Development (ORED) with work on at least five projects worth Dh.500mn. The company also plans to launch projects in Jumeirah Village Circle (JVC), a development near the upcoming Mohammed Bin Rashid City. The portfolio of the company already includes properties in Business Bay, Jumeirah Village Circle, Dubai Silicon Oasis, International City, Emirates Hills and Jumeirah Golf Estates.

Union Properties
Union Properties and National Properties, a unit of National Bonds Corporation have announced that they are developing an upscale residential project at the Green Community in Motor City. The first phase of the project includes construction of 78 villas and 58 apartments with double and triple bedrooms spanning 425,000 square feet. Work will be complete by 2015.  The company also plans to launch five towers and a project that replicates the popular ‘Champs Elysees’ in Paris’ at Motor City by mid-2014.

Thursday, February 13, 2014

Dubai to see hot property market with cautious investors this year

The real estate market in Dubai is likely to be hotter this year, according to top property consultants Jones Lang LaSalle.

Last year, there was huge growth in real estate prices and rentals, largely due to fever surrounding Expo 2020. But, the firm’s ‘2014 Top trends for UAE Real Estate’ report indicates that investors will be more cautious this year.

According to JLL CEO, Alan Robertson, the year 2014 will be a positive year for UAE real estate sector, with most sectors of market experiencing better performance.

The landscape is changing and larger projects are being brought in-line with demand, while there is also less dependence on pre-sales. The landscape is different from last year, with investors being more cautious and bank regulations are better, said Craig Plumb, Head of Research.

The firm further said that rentals were increasing by 18 percent year-on-year on average. The secondary and more affordable areas are growing at a faster pace than prime locations, and hence recovery is broad-based, the report said.

If all projects due for completion in 2014 are delivered on time, there would be additional 28,000 units completed this year, which represents eight percent growth over the present stock.

However, it is likely that some of these projects will be delayed. Dubailand is likely to provide 33 percent of supply, with 16,000 housing units expected prior to end of 2016. Another 4200 units are likely to be completed in Dubai Marina, with Dubai Sports City accounting for 3,700 units and 2700 units ready for completion in Business Bay.

Expo 2020 will have limited impact on real estate market 2014. But, in the long-term, it will also have positive effect on hospitality, logistics and retail sectors. Further, the market’s momentum can create ‘irrational exuberance’ and recurrence of certain past issues and challenges. The market is hoped to be more measurable and smarter this year, which is reflected by the healthy caution adopted by investors and occupiers, the company confirms.

Monday, February 03, 2014

Emaar launches Arabesque-style villa community in Arabian Ranches

Emaar Properties has launched its first Arabesque-style villa community in Arabian Ranches, one of the most sought-after and established lifestyle neighbourhoods in Dubai.

Emaar has been launching thousands of new residential units over the past few weeks, including Vida Residence, Vids Residence in Downtown Dubai, Lila in Arabian Ranches, The Hills, Rasha in Arabian Ranches, Boulevard Point in Downtown Dubai and now, the latest ‘Yasmin’ in Arabian Ranches.

These villas will be offered on sale simultaneously in Dubai and Abu Dhabi, along with a dedicated showcase in Riyadh on 8th February. The online registrations for Dubai and Abu Dhabi will begin on 5th February at 10am at www.emaar.com.

The Yasmin villa community comprises 98 villas in five different types of four-to- six bedrooms, with landscaped greeneries, private plots for gardens, all of which form part of each villa.

The flawlessly-styled Yasmin villas take their design inspiration from the Arabian colour palette.  The living spaces are spacious with large windows and wide doorways providing optimal natural light.

The homes offer residents the best in leisure and entertainment too. A ‘Residents Club’ offers home-owners the opportunity to rejuvenate their mind and body with state-of-the-art gymnasium, indoor running track, quaint cabanas, a beauty salon and a spa.

Those looking for serene outdoors can gain access to signature 247-acre golf course, community parks and gardens, Dubai Polo and Equestrian Club, Barbecue Deck, tennis courts, dedicated children’s area, football pitches and dedicated gourmet restaurants.

The Emaar Managing Director, Ahmad Al Matrooshi said that Yasmin villa community is an exclusive lifestyle choice that is suitable for families, and Yasmin offers the rich heritage and Arabian culture to its residents, which reflects itself in design inspirations.

The Chief Commercial Officer at Emaar, Arif Amiri, said that the launch of new Yasmin community in Arabian Ranches indicates the growing demand for premium villas in Dubai which are ideal for families.
Emaar is further defining its credentials as a developer of world-class communities which meets the lifestyle aspirations of residents with demand not only from Dubai, but, from other markets too.
For more information, call +971 4 3661688 (international) or 80036227 (UAE) or email globalsales@emaar.ae. 

Monday, January 27, 2014

Emaar launches new Spanish-style villas in Arabian Ranches

Emaar Properties in Dubai has announced the launch of Rasha, a new Spanish-style villa community, in its popular development, Arabian Ranches.

It has been designed to reflect the architectural features of Spanish Coastal Villas, and comprises 140 villas of four to six bedroom units. The community also includes lifestyle amenities such as grocery store, salon, medical clinic, daycare centre, schools, multi-cuisine food and beverage outlets.

Rasha is the latest addition to the Arabian Ranches extension, featuring CASA, Palma, Rosa and Lila villas. The development was launched following strong customer response, Emaar said.

The Managing Director of Emaar, Ahmad Al Matrooshi, said that led by the reputation of Dubai as a family destination, and supported by the strong economic growth, the real estate market witnessed increased demand for villas.

The sales for Rasha will be launched in Dubai and Abu Dhabi on 1st February 2014, and online registration for sales in the two cities will commence on 29th January.

Emaar has launched several new projects last year, including the first development for the forthcoming Expo 2020 in Dubai. In January alone this year, Emaar has launched three projects – the Spanish-themed 219 villa community ‘Lila’ in Arabian Ranches, the 63-storey tower project ‘the Boulevard Point’ in Downtown Dubai, and the 320 unit ‘Vida Residence’ in Downtown Dubai, likely to be ready by 2018.

Prices of Dubai homes surge 45percent within a year in key areas

Leading property portal in the UAE, propertyfinder.ae, has reported that housing prices in key areas in Dubai has seen a 45 percent surge in a span of one year.  The UAE’s leading property portal released the findings of its Q4 2013 report recently.

The top residential communities in Dubai in terms of consumer search behaviour on the portal, indicates a 45 percent hike in average property values in Dubai’s key residential districts over the past one year. The portal also saw a 23 percent surge for studios in the Marina, and increase of 26 percent for single bedroom, 27 percent for double bedroom and 15 percent for triple bedroom apartments.

Speaking about the growing house values in the waterfront community, the CEO and Founder of Propertyfinder.ae, Michael Lahyani, said that ‘The Marina’ has always been on the hotspot due to its great lifestyle, picturesque setting and a range of accommodation options, ranging from studios, apartments facing the waterfront.

The Downtown clocked up 11 percent of the searches on the website and was placed second on the list of most searched communities in Q4 last year, with price gain of 20 percent for studios, 16 percent, 11 percent and 5 percent for single, double and triple bedroom residences respectively.

As per the analysis by the portal, the Palm Jumeirah properties topped the growth in prices. Although studios did not show much increase, the triple bedroom properties showed close to 30 percent growth in values, followed by single bedrooms at 24 percent and double bedrooms at 18 percent.

The Dubai Sports City, an up-coming hotspot also saw surge in price with studios presenting 35 percent growth, followed by double bedroom properties at 24 percent, and single and triple beds at 19 percent and 12 percent respectively.

The Jumeirah Village Circle is another emerging neighbourhood which registered a huge 42 percent surge in sale prices of studios, 45 percent growth for double bedroom apartments.

Another emerging neighbourhood that registered a dramatic 42 percent surge in sale price of studios and a 45 percent surge in double bedroom apartments last year is Jumeirah Village Circle.

Although such upturns in property values seem good for homeowners and prospective sellers, stability in prices between buyers and sellers is expected this year, and despite the huge stock likely to come up during the year, the new off-plan sales rules and holiday homes rules will ensure that the market does not enter into another bubble, said Lahyani.

Monday, January 20, 2014

Nakheel embarks on mega-project launches

Nakheel has once again announced mega-projects and has embarked on a launch mode. Among the mega-projects are 1.5 to 2 million square feet shopping mall, located off the Deira coastline, in proximity to the “night market”.

The dimensions of the mall, places it among the top three in terms of gross leasable area, just behind The Dubai Mall and the Mall of Emirates. Anything that spans more than 800,000 square feet is defined as “super-regional mall” in retail sector.

Further, this year, Nakheel is all set to launch Dh.6 to Dh.8 billion worth of projects, including multiple hotels, which is now the major focus area.

Nakheel reported 27 percent gain in net profit to Dh.2.57 billion last year, on revenues of Dh.9.4 billion, marking an increase of 20 percent over that in 2012. The Nakheel Chairman, Ali Rashid Lootah, said that the company has pumped in Dh.12.3 billion into the market and will continue to do that with more projects.
There will not be any land bank additions, and the new projects will come up only where the infrastructure is advanced, so as to minimize costs. This implies that existing, short-term areas and not Palm Jebel Ali or Waterfront, he clarified.

About 80 percent or more of the buyers with exposure to Nakheel’s long-term stalled projects have been shifted to current ones, officials revealed.

The company also announced, early this month that it was bringing forward its repayment obligations to creditor banks with first tranche, Dh.2.35 billion to be handed over next month, and another of Dh.1.65bn in third quarter. It further said that it would not be using funds on offer from Dubai Government as part of its restructuring.

Nakheel plans to top-up its retail and hospitality assets, and will offer the developer with consistent income generating possibilities, that residential and office realty markets.

This year will also include launch of 3500 new homes within its communities. By mid-year, the handover of first project announced post-crisis, Dragon Mart phase 2, and by mid-year, the handover of first project which was announced post-crisis, namely the Palma Residences. Further, Dragon Mart Phase 2 is also heading towards completion. Meanwhile, a hotel in Deira is also likely to be ready by 2016. 

Sunday, January 19, 2014

Emaar launches Boulevard Point at Downtown Dubai

Master developer, Emaar Properties has launched ‘Boulevard Point’ in Downtown Dubai, the iconic mega-development by the company.

The ‘Boulevard Point’ homes have direct access to The Dubai Mall, and feature 297 single to triple bedroom residences across 63 storeys, and will be offered to discerning investors on the 25th January 2014.
Select apartments in the project will have open views to Burj Khalifa, the world’s tallest building, and The Dubai Fountain, the world’s tallest performing fountain.

“Boulevard Point” boasts of a lifestyle that is known to few, and with its stone countertops, pendant lights, and glass panelling, is designed to reflect the true diversity and vibrancy of Downtown Dubai.
It is known to enhance living space with tasteful, modern and aesthetic touch, said Emaar statement.
The new ‘Boulevard Point’ will include amenities such as swimming pools, fully-equipped gymnasium, dedicated children’s area, community-centric lawn and barbecue deck.

Speaking about the new project, the Emaar Managing Director, Ahmad Al Matrooshi said that ‘Boulevard Point’ will offer residents a spectacular mix of arts and culture, in the world’s most prestigious square kilometre.

Potential investors get to register their interest for homes in ‘Boulevard Point’ online at www.emaar.com from 22nd January. The sales for homes will be held at the Emaar Pavilion on Mohammed Bin Rashid Boulevard, Downtown Dubai and in Abu Dhabi at the Emaar Sales Centre in Al Nahda Tower, from 10am and also at the Marina Bay Sands in Singapore from 2pm.

The dedicated displays will be held on 25th January at Four Seasons Hotel Doha and Riyadh from 9am on first-come-first-serve basis.