Abu Dhabi's iconic development Capital Gate on track
Wednesday, April 30, 2008
Capital Gate, the Abu Dhabi's iconic real estate development is progressing as scheduled, revealed ADNEC (Abu Dhabi National Exhibition Company), the master developer of Capital Gate.
The current phase of construction of the 35-storey iconic tower, involves pouring of more than 6000 cubic meters of concrete to create a base for the 160 meters.
Capital Gate is scheduled for completion in 2009, and thereafter it is expected to house an executive five-star hotel Hyatt in Abu Dhabi, which will be the first Hyatt hotel in the capital. It will also provide the most exclusive office space ever in Abu Dhabi.
Capital Gate is scheduled for completion in 2009, and thereafter it is expected to house an executive five-star hotel Hyatt in Abu Dhabi, which will be the first Hyatt hotel in the capital. It will also provide the most exclusive office space ever in Abu Dhabi.
Simon Horgan, the ADNEC CEO, said "There is nothing standard about the tower. Each room, each pane and every angle is different. It was designed to provide no symmetry to inspire both observers and visitors."
ADNEC is a top class MICe (Meetings, Incentives, Conferences and Exhibitions) venue in the Middle East.
ADNEC is a top class MICe (Meetings, Incentives, Conferences and Exhibitions) venue in the Middle East.
DNEC is following an expansion strategy with an aim of catalyzing the MICE industry in Abu Dhabi, and is developing a business and leisure district spreading across 148,000 square meters of land, known as Capital Center.
Located in close proximity to the airport, the Dh.8bn Center will house the state-of-the-art Abu Dhabi National Exhibition Center, an iconic 35-storey Capital Gate, a micro-city consisting of commercial, residential and hotel accommodation, waterfront leisure zone, a marina and an existing grandstand.
Labels: Abu Dhabi, Business Tower, Office Space
Fortune Group partners with Badr Al Islami for easy mortgage solutions
The Dubai based property developer, Fortune Group, has entered into a partnership with Badr Al Islami, a Shariah-compliant arm of Mashreq, will offer Shariah-compliant mortgage solutions to property buyers for their residential and commercial projects.
Badr Al Islami will offer mortgage solutions for Fortune Serene, Fortune Avenue and Fortune Bay, worth more than $272million in value. It will also manage Trust Accounts for all the three projects.
Fortune Serene is a residential project in International Media Production Zone, while Fortune Bay and Fortune Avenue offers commercial space in Business Bay.
As per the agreement, Badr Al Islami will structure finance options depending on investor requirements for each project. It will provide easy finance solutions of up to 80 percent of project value. Buyers can avail maximum of $3.3mn in residential and commercial property mortgage.
Social BookmarkingBadr Al Islami will offer mortgage solutions for Fortune Serene, Fortune Avenue and Fortune Bay, worth more than $272million in value. It will also manage Trust Accounts for all the three projects.
Fortune Serene is a residential project in International Media Production Zone, while Fortune Bay and Fortune Avenue offers commercial space in Business Bay.
As per the agreement, Badr Al Islami will structure finance options depending on investor requirements for each project. It will provide easy finance solutions of up to 80 percent of project value. Buyers can avail maximum of $3.3mn in residential and commercial property mortgage.
ETA unveils VERDE Residences and Offices at Dubai Maritime City
Tuesday, April 29, 2008
The leading UAE property developer, ETA Star Properties, have announced the launch of VERDE Residences and Offices in Dubai Maritime City.
Comprising two towers, VERDE Residences and Offices are designed to earn Gold ratings in accordance with the US Green Building Council's LEED (Leadership in Energy and Environment Design) programme.
Located in Dubai Maritime City, near Port Rashid in Dubai, VERDE Towers are designed by renowned architects Adrian Smith and Gordon Gill. The towers are so designed that they utilize the natural forces of light, wind and geothermal mass and recyclable construction materials, along with maximum use of other energy-efficient systems and technologies.
The entire project includes two towers - residential and commercial. The 33 storey curtain-glazed VERDE office tower is trapezoidal in shape, covering a built-up area of 820,000 square feet. It features podium offices and a unique sky garden.
The 48 storey glass tower, VERDE residential tower, is boat-shaped, covering a built-up area of 1.35mn square feet. It is inclusive of double and triple bedroom units, apart from penthouses and four bedroom duplex townhouses on podium liner.
ETA Star has already built several beautiful homes and living communities apart from world-class business and commercial developments across the region. Due to this excellent track record of ETA, the regional banks have developed confidence in ETA Star Properties and a strong credibility has been established with the leading financial institutions in the region.
ETA is currently developing several million square feet of premium properties in several Middle East and South-East Asian countries such as UAE, India, Qatar, Turkey, Oman and Sri Lanka.
Labels: Business Tower, Environment-friendly, ETA-Star
Property bylaws implemented in Abu Dhabi
The implementation of bylaws of Law No.3 of 2005 issued by the President, H.H. Sheikh Khalifa Bin Zayed Al Nahyan, for regulating property registration, has already commenced in Abu Dhabi.
The Chairman of the department, Dr. Jua'an Salem Al Daheri, said the property law and its bylaws are being issued to keep pace with the comprehensive development in Abu Dhabi. The bylaws are being issued taking into account public interest after consultation with associated parties.
The bylaws are aimed to regulate affairs pertaining to property registrations in the emirate. This includes the terms and conditions of real estate activities, the parties involved, along with their jurisdictions and responsibilities.
Other factors stipulated in the bylaws include specialties of property registration department, attestation of signatories, search memos and transaction certificates, and terms and conditions of selling and buying properties.
Social BookmarkingThe Chairman of the department, Dr. Jua'an Salem Al Daheri, said the property law and its bylaws are being issued to keep pace with the comprehensive development in Abu Dhabi. The bylaws are being issued taking into account public interest after consultation with associated parties.
The bylaws are aimed to regulate affairs pertaining to property registrations in the emirate. This includes the terms and conditions of real estate activities, the parties involved, along with their jurisdictions and responsibilities.
Other factors stipulated in the bylaws include specialties of property registration department, attestation of signatories, search memos and transaction certificates, and terms and conditions of selling and buying properties.
Labels: Property Law
Abyaar and Lacroix sign deals to build residential tower in Jumeirah
Monday, April 28, 2008
Abyaar, the property developer and Christian Lacroix, the designer have entered into a joint venture to build a residential tower in one of the most exclusive beachside suburbs of Dubai.
The 38-unit Jumeirah-based tower, offering wonderful views across Dubai's coastline, The Palm and Burj al Arab landmarks, will incorporate a Lacroix-designed façade, vast lobby and luxurious interiors.
Although Lacroix has worked on several Paris-based boutique hotel interiors, this is the first residential offering, wherein the designer has incorporated trademark blend of past and future.
The Vice-Chairman and Managing Director of Abyaar, Marzooq Al Rashdan, said "We approached Lacroix because he is well-known for his exceptional design and theatrical style, both on and off the catwalk. This marks the beginning of a long term partnership through which similar developments will be established in the region and beyond, placing Abyaar on top of luxury development map international."
Commenting on the development, Lacroix said "We are working on something special that will tell a fanciful Middle Eastern story. The interiors will be contemporary and baroque blend of West and East, new and old, inspired by folklore and history."
The designer will be sourcing and creating unique materials for the interior design. Lacroix has designed several hotels, interiors for the French chain of Gaumont cinemas, tramway cards and TGV trains.
Social BookmarkingThe 38-unit Jumeirah-based tower, offering wonderful views across Dubai's coastline, The Palm and Burj al Arab landmarks, will incorporate a Lacroix-designed façade, vast lobby and luxurious interiors.
Although Lacroix has worked on several Paris-based boutique hotel interiors, this is the first residential offering, wherein the designer has incorporated trademark blend of past and future.
The Vice-Chairman and Managing Director of Abyaar, Marzooq Al Rashdan, said "We approached Lacroix because he is well-known for his exceptional design and theatrical style, both on and off the catwalk. This marks the beginning of a long term partnership through which similar developments will be established in the region and beyond, placing Abyaar on top of luxury development map international."
Commenting on the development, Lacroix said "We are working on something special that will tell a fanciful Middle Eastern story. The interiors will be contemporary and baroque blend of West and East, new and old, inspired by folklore and history."
The designer will be sourcing and creating unique materials for the interior design. Lacroix has designed several hotels, interiors for the French chain of Gaumont cinemas, tramway cards and TGV trains.
Labels: Luxury Homes, New Developments
Cityscape Abu Dhabi to be held in May 2008 for the second successive year
Sunday, April 27, 2008
The premier real estate development and investment showcase in the Cityscape Abu Dhabi will be held between the 13th and 15th May 2008 at the Abu Dhabi Exhibition Center.
With more than 30,000 square meters of exhibition space and more than 300 exhibitors, there is a waiting list of potential exhibitors waiting for last minute cancellations, reveals the organizers at the IIR Middle East.
This is for the second consecutive year that Cityscape Abu Dhabi is being held under the patronage of H.H. General Sheikh Mohammed bin Zayed Al Nahyan, the Crown Prince of Abu Dhabi and Deputy Supreme Commander of UAE Armed Forces.
This year's event is expected to draw more than 25000 visitors from more than 100 countries, with exhibitors from more than 50 different countries participating in the event.
Abu Dhabi is playing the lead role in sustainable development with over $327 billion worth of projects proposed, planned or under construction. (Dh 70bn worth projects launched 2007 Cityscape Dubai.
The Project Manager of Cityscape Abu Dhabi, Mark Goodchild said "We are honored by the patronage of HH Sheikh Mohammed. The event emphasizes the importance of real estate market in Abu Dhabi and highlights the proactive support of the capital towards a sustainable industry. The Cityscape Abu Dhabi can play a major role in binding regional and international industry professionals together."
To further complement the exhibition, two parallel conferences are organized on sustainable development and real estate investment and finance. The conference will focus on leading real estate developers, architects, designers and contractors who discuss new ways to design and build sustainable buildings.
The conference will bring together leading property developers, investors, fund groups, bankers and other professionals who are keen to embrace a more transparent real estate property market throughout the region.
Labels: Cityscape, Property-show
MAG 214 apartments at Jumeirah Lakes handed over to residents
Saturday, April 26, 2008
The Dubai-based real estate firm, MAG Group Property Development, has handed over the keys to residents of 306 apartments and penthouses at the MAG 214 building at Jumeirah Lakes Tower development on the Sheikh Zayed Road in Dubai.
MAG 214 is one of the several competitively budgeted buildings developed by the company to cater to the mid-range market, which is quite appealing to Dubai’s middle income families.
The 40 storey high-rise building tower with a structural height of 155mts, was completed in 2007, and comprises 312 apartments. Situated above Jumeirah Lakes, MAG 214 offers the lending edge of contemporary design to one of the most sought after residential developments in Dubai.
Each single, double and triple bedroom and penthouse apartment in the building is designed in a unique manner, allowing the resident's choice of living space to reflect their individual style. All apartments including the duplexes and penthouses are fitted with panoramic floor-to-ceiling windows. The landscaped gardens in the building include a swimming pool and children's pool.
The CEO of Mag Group Property Development, Mohammed Nimer, said "We excel in designing, finishing and customer satisfaction, and focus on delivering our promises."
Jumeirah Lakes Towers is a dynamic waterfront development with residential and office towers, apart from leisure, hotels and retail outlets.
MAG 214 is one of the several competitively budgeted buildings developed by the company to cater to the mid-range market, which is quite appealing to Dubai’s middle income families.
The 40 storey high-rise building tower with a structural height of 155mts, was completed in 2007, and comprises 312 apartments. Situated above Jumeirah Lakes, MAG 214 offers the lending edge of contemporary design to one of the most sought after residential developments in Dubai.
Each single, double and triple bedroom and penthouse apartment in the building is designed in a unique manner, allowing the resident's choice of living space to reflect their individual style. All apartments including the duplexes and penthouses are fitted with panoramic floor-to-ceiling windows. The landscaped gardens in the building include a swimming pool and children's pool.
The CEO of Mag Group Property Development, Mohammed Nimer, said "We excel in designing, finishing and customer satisfaction, and focus on delivering our promises."
Jumeirah Lakes Towers is a dynamic waterfront development with residential and office towers, apart from leisure, hotels and retail outlets.
Labels: Apartments, Jumeirah-Lake-Towers, Residential
Realty projects in Gulf Countries exceeds Dh.8.8trillion
Thursday, April 24, 2008
The real estate projects that are underway in GCC have cross Dh.8.8trillion mark, according to an industry research.
The figure has been arrived at, taking into account all additional developments (even in their concept stage) that are currently happening in the GCC, which accounts for a total of 3,519 projects worth Dh.9.27 trillion.
Majority of these developments are happening in the Saudi Arabia and UAE.
The biggest project under construction in the region is the 'King Abdullah Economic City' at Saudi Arabia, worth Dh.440.4 billion, followed by the 'Dubailand' in Dubai, which is valued at Dh.403.7billion, and thereafter the 'Silk City' real estate project worth Dh.315.6 in Kuwait.
In the light of such massive construction activities, the 2008 edition of Hardware and Tools Middle East will be held at the Dubai International Convention and Exhibition Center between 25th and 27th of May 2008. The exhibition is worth visiting for construction companies, realty firms, maintenance firms, buyers, and contractors from across the region.
Social BookmarkingThe figure has been arrived at, taking into account all additional developments (even in their concept stage) that are currently happening in the GCC, which accounts for a total of 3,519 projects worth Dh.9.27 trillion.Majority of these developments are happening in the Saudi Arabia and UAE.
The biggest project under construction in the region is the 'King Abdullah Economic City' at Saudi Arabia, worth Dh.440.4 billion, followed by the 'Dubailand' in Dubai, which is valued at Dh.403.7billion, and thereafter the 'Silk City' real estate project worth Dh.315.6 in Kuwait.
In the light of such massive construction activities, the 2008 edition of Hardware and Tools Middle East will be held at the Dubai International Convention and Exhibition Center between 25th and 27th of May 2008. The exhibition is worth visiting for construction companies, realty firms, maintenance firms, buyers, and contractors from across the region.
Labels: Middle-East, Real Estate Projects
Foundation stone laid for Hydra Twin Towers Project at Jumeirah
The foundation stone for Hydra Twin Towers Project at Jumeirah Village in Dubai has been laid by Dr. Sulaiman Al-fahim, the Chief Executive Officer of Hydra Properties.The first phase of work is likely to be complete by September this year.
The Hydra Properties Twin Tower comprises two residential towers, each of which comprises 32 storey each. Other project amenities include spacious car parkings, spas, shops, gymnasiums, community center, promenades, sports pitches, jogging trails, scenic cycling, schools, clinics, private gardens, restaurants, luxury cafes and other luxurious amenities.
The Hydra Properties Twin Towers are an exclusive community meant for luxury lifestyle, rendering tranquility and comfort.
"We are proud to lay the foundation stone, which marks the commencement of the prestigious project. We, at Hydra, are pleased with the progress of our work, which reflects the commitment of the company in providing superior quality developments. The coming period will witness the beginning of works and construction of many previously announced projects of Hydra Properties," said Dr. Al Fahim.
Labels: Community, Jumeriah Village, Luxury Homes, Residential
Rental rates for residential units in Dubai found to be stable
Wednesday, April 23, 2008
UAE's largest real estate services company, Asteco, has observed that there has been no significant change in Dubai's annual rents, during the first quarter, compared to the annual rent rates during the last quarter of 2007, reveals their Quarterly Residential Report.
The highest annual rents have been recorded at the Palm Jumeirah and Old Town Burj Dubai, with studio and single bedroom annual rents standing at Dh.100,000 and Dh.140,000 respectively. On the other hand, the lowest rentals have been noticed at International City with studios available for Dh.42,000 and single bedrooms for Dh.58,000.
When compared on an annual basis, the rental charges were the highest at the Greens in Dubai, with studios recording an average annual rent of Dh.65,000 to Dh.85000, marking a 31% increase. But, the double bedroom units at the International City saw a 36% increase in rents from Dh.70,000 to Dh.95,000 during the same period last year.
Other areas that witnessed a year-on-year rental increase were the Old Town Burj Dubai real estate development, which reported 17% increase for single bedroom units and 21% increase for double bedroom apartments.
As for villas in Dubai, the rental rates are determined on the basis of location, size and condition with Midriff commanding the lowest rate, while Jumeirah marked the highest due to its close proximity to beach and Sheikh Zayed road. The average annual rent for a four bedroom villa at Mirdiff was marked at Dh.175,000, and a similar property at the Arabian Ranches and Jumeirah would rent at Dh.300,000.
When compared on an annual basis, the rental charges were the highest at the Greens in Dubai, with studios recording an average annual rent of Dh.65,000 to Dh.85000, marking a 31% increase. But, the double bedroom units at the International City saw a 36% increase in rents from Dh.70,000 to Dh.95,000 during the same period last year.
Other areas that witnessed a year-on-year rental increase were the Old Town Burj Dubai real estate development, which reported 17% increase for single bedroom units and 21% increase for double bedroom apartments.
As for villas in Dubai, the rental rates are determined on the basis of location, size and condition with Midriff commanding the lowest rate, while Jumeirah marked the highest due to its close proximity to beach and Sheikh Zayed road. The average annual rent for a four bedroom villa at Mirdiff was marked at Dh.175,000, and a similar property at the Arabian Ranches and Jumeirah would rent at Dh.300,000.
Labels: Dubai Real Estate, Latest News, Rentals
Maison forays into UAE realty market
Maison Limited, the Hong Kong developer, has put its first step forward towards entering the UAE property market, through the purchase of four plots at Downtown Jebel Ali, to develop signature boutique residence. This is also the first global commercial and residential real estate venture of the company.
Located in Phase four of Downtown Jebel Ali, adjacent to the Arabian Canal, the development covers 10,000 square meters of land space and a built-up area of 90,000 square meters. The four plots will be combined to make two large plots and the buildings will rise up to G+18 storeys.
The project will feature state-of-the-art amenities with all apartments being completely furnished and feng-shui operated. The Managing Director of Maison, Shaye'e Shamszadeh said "Progressive foreign ownership laws, a buoyant economy, and the UAE government's drive to create a forward-thinking, cosmopolitan center of finance, business and culture, will together ensure that Dubai maintains its continues success and high profile in the global market."
The construction and infrastructure development is likely to begin after handing-over of the plots in March 2009. The project is likely to see its official launch during the third quarter of this year.
Maison Limited is looking into developments in Abu Dhabi too, although Dubai will be the company's main focus.
"Dubai is a trendsetter and we believe that it is the best first step. Abu Dhabi too is in our agenda and will be an interesting stepping stone. Abu Dhabi is still lacking international exposure. But Dubai has the glamour and name," said Cor van der Meulen, the Managing Director, Maison Limited, Hong Kong.
Shamszadeh confirmed that the company will go global with Dubai as the launch-pad.
Social BookmarkingLocated in Phase four of Downtown Jebel Ali, adjacent to the Arabian Canal, the development covers 10,000 square meters of land space and a built-up area of 90,000 square meters. The four plots will be combined to make two large plots and the buildings will rise up to G+18 storeys.
The project will feature state-of-the-art amenities with all apartments being completely furnished and feng-shui operated. The Managing Director of Maison, Shaye'e Shamszadeh said "Progressive foreign ownership laws, a buoyant economy, and the UAE government's drive to create a forward-thinking, cosmopolitan center of finance, business and culture, will together ensure that Dubai maintains its continues success and high profile in the global market."
The construction and infrastructure development is likely to begin after handing-over of the plots in March 2009. The project is likely to see its official launch during the third quarter of this year.
Maison Limited is looking into developments in Abu Dhabi too, although Dubai will be the company's main focus.
"Dubai is a trendsetter and we believe that it is the best first step. Abu Dhabi too is in our agenda and will be an interesting stepping stone. Abu Dhabi is still lacking international exposure. But Dubai has the glamour and name," said Cor van der Meulen, the Managing Director, Maison Limited, Hong Kong.
Shamszadeh confirmed that the company will go global with Dubai as the launch-pad.
Labels: Jebel-Ali, Real Estate Company
UAE - the most preferred choice of property investment in the region
Tuesday, April 22, 2008
Majority of foreign investors have purchased properties in the UAE than in any other Gulf States, reveals a recent survey by ArabianBusiness.com (Property Survey 2008).
About 95.5% of the respondents in the survey agreed that UAE was their popular choice of investment, being the leading market in the Gulf real estate boom.
According to the survey, majority of foreigners are purchasing properties as an investment, and are of the opinion that UAE would be the best Gulf market to yield maximum returns over the next two years.
Ever since the government opened its market for foreigners in 2002, the housing and rental prices have been on the increase, more so in recent years, due to housing shortage and high cost of construction.
The property prices in Abu Dhabi are likely to shoot up by 25% this year, according to a recent report by HSBC. In Dubai, a 15% rise is expected, as revealed by Standard Chartered Bank.
Among the 3000 respondents who participated in the survey, about 1.24% have purchased properties in Qatar, 1.04% in Bahrain, 0.52% in Saud Arabia, and 0.21% in Oman and Kuwait.
According to the survey, UAE is much ahead than Qatar, Saudi Arabia, Oman, Bahrain and Kuwait when it comes to offering best returns on buyer investments within a short-term.
For purchase of property, almost all nationalities favoured UAE over the other Gulf states. However, 10% of New Zealand nationalities had purchased properties in Bahrain, while 12.5% bought from Netherlands and Qatar.
The survey pointed out that no nationality had invested in the Kuwait realty sector, except Indians. It was also found that as majority of expatriates in the Gulf are Indians, they were the most active investors in the region, purchasing property in all the six Gulf States.
The survey pointed out that no nationality had invested in the Kuwait realty sector, except Indians. It was also found that as majority of expatriates in the Gulf are Indians, they were the most active investors in the region, purchasing property in all the six Gulf States.
Labels: Market Trends, Middle-East, Property Prices, UAE
The Tiger Woods masterplan receives a go-ahead
Sunday, April 20, 2008
The Tiger Woods, a member of Tatweer, has revealed that they have received the go-ahead for the final masterplan of their new real estate project in Dubai from the Dubai Municipality and the RTA. The design and construction of the project is progressing as scheduled.
The project, namely The Tiger Woods Dubai, is an exclusive lifestyle community scheduled for completion by late 2009. The spectacular Al Rawaya Golf Course serves as its focal point.
Spread across an area of 55million square feet, The Tiger Woods Dubai will be an exclusive golf community featuring a professionally-staffed golf academy, a clubhouse spread across 139,000 square feet with premium amenities, a high-end boutique hotel, a premium destination spa, 75 mansions, 22 palaces, and 100 luxury villas.
The Tiger Woods Dubai will soon be one of the most sought-after destinations in the world, and will be a genuine oasis for those lucky enough to live or stay within its spectacular grounds, said Tiger Woods.
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The project, namely The Tiger Woods Dubai, is an exclusive lifestyle community scheduled for completion by late 2009. The spectacular Al Rawaya Golf Course serves as its focal point.
Spread across an area of 55million square feet, The Tiger Woods Dubai will be an exclusive golf community featuring a professionally-staffed golf academy, a clubhouse spread across 139,000 square feet with premium amenities, a high-end boutique hotel, a premium destination spa, 75 mansions, 22 palaces, and 100 luxury villas.
The Tiger Woods Dubai will soon be one of the most sought-after destinations in the world, and will be a genuine oasis for those lucky enough to live or stay within its spectacular grounds, said Tiger Woods.
Labels: Community, Golf property, Real Estate Projects
Emaar's Burj Place open for sale
Saturday, April 19, 2008
Emaar Properties has launched a 55-storey two-tower commercial and residential project, Burj Place, within Downtown Burj Dubai, the new center of the city.
On completion, the Burj Place, will be directly linked to the Dubai Metro and Burj Dubai tram, said a company statement.
Burj Place offers studios, single and double bedroom serviced apartments in the rage of 574 square feet to 1253 square feet, making it the right choice for modern lifestyle. The commercial spaces of 'Burj Place' range from 3837 square feet to 7027 square feet.
Emaar Properties Sales Director, Saif Al Mansouri said "At Burj Place, Emaar invites its customers to be connected to Downtown Burj Dubai and Dubai. Burj Place is the new addition to the Downtown Burj Dubai, the address of prestige and status. It is a place with variety and style, offering a unique investment opportunity."
The development value of the project is, however, yet to be revealed.
The residential and commercial units of the development will be open for sales tomorrow at the Downtown Burj Dubai sales center, with various institutions offering attractive finance options.
The Dh.73bn ($20bn) Downtown Burj Dubai, flagship mega-project of Emaar, known as the 'most prestigious square kilometer on Earth', is now one of the most desired destinations in the bustling city of Dubai. The units at 'The Old Town' and 'The Residences' have been handed over to the customers, and three hotels, and a modern shopping mall are already open in the development.
Social BookmarkingOn completion, the Burj Place, will be directly linked to the Dubai Metro and Burj Dubai tram, said a company statement.
Burj Place offers studios, single and double bedroom serviced apartments in the rage of 574 square feet to 1253 square feet, making it the right choice for modern lifestyle. The commercial spaces of 'Burj Place' range from 3837 square feet to 7027 square feet.
Emaar Properties Sales Director, Saif Al Mansouri said "At Burj Place, Emaar invites its customers to be connected to Downtown Burj Dubai and Dubai. Burj Place is the new addition to the Downtown Burj Dubai, the address of prestige and status. It is a place with variety and style, offering a unique investment opportunity."
The development value of the project is, however, yet to be revealed.
The residential and commercial units of the development will be open for sales tomorrow at the Downtown Burj Dubai sales center, with various institutions offering attractive finance options.
The Dh.73bn ($20bn) Downtown Burj Dubai, flagship mega-project of Emaar, known as the 'most prestigious square kilometer on Earth', is now one of the most desired destinations in the bustling city of Dubai. The units at 'The Old Town' and 'The Residences' have been handed over to the customers, and three hotels, and a modern shopping mall are already open in the development.
Labels: Downtown, Emaar, Office Space
$300mn G Tower project launched in Dubailand
A $300million G-Tower project has been launched in Dubailand by Galadari Investment Office (GIO) together with YOO (a Phillipe Starck and John Hitchcox-owned design company).
Located in the City of Arabia in Dubailand, the G-Tower project includes a residential G Tower and a commercial G Tower. This project in Dubai by YOO is also their first project tin the Middle East.
The G-Tower is a 45-storey tower, 280 meters in height, comprising 240 apartments spread across a gross floor area of 640,698.51 square feet.
Construction for the project has already begun, and will be complete towards 2010.
The Chairman of GIO, Rashid A.W. Galadari said "We have focused on transforming ideas of art and culture into a physical structure adding a new dimension to Middle East property development."
YOO has 45 developments that are underway in 22 countries. With a portfolio of more than $40billion, and a total built-up area of about 40 million square feet, the company is now looking for expansion into the Far East.
Located in the City of Arabia in Dubailand, the G-Tower project includes a residential G Tower and a commercial G Tower. This project in Dubai by YOO is also their first project tin the Middle East.
The G-Tower is a 45-storey tower, 280 meters in height, comprising 240 apartments spread across a gross floor area of 640,698.51 square feet.
Construction for the project has already begun, and will be complete towards 2010.
The Chairman of GIO, Rashid A.W. Galadari said "We have focused on transforming ideas of art and culture into a physical structure adding a new dimension to Middle East property development."
YOO has 45 developments that are underway in 22 countries. With a portfolio of more than $40billion, and a total built-up area of about 40 million square feet, the company is now looking for expansion into the Far East.
Labels: City-of-Arabia, Dubailand
GGICO launches Axis Residences Phase 2
Thursday, April 17, 2008
The Gulf General Investment Company (GGICO) a leading real estate and investment firm in Dubai has launched the second phase of its highly successful 'Axis Residences' at Dubai.
The Second Phase of Axis Residence towers boasts of high-level amenities, with all the towers featuring well-designed interiors, spacious balconies and terraces, apart from leisure packages which include pools, health clubs, gymnasiums, and open-air relaxation packages. Safety has been given the prime importance and the apartments are equipped with leading safety features including fire safety and alarm system, security system, smoke detection system and child-proof electrical switches. All the apartments are well-connected through intercom, and the MAT TV and satellite infrastructure offers world-class entertainment.
Leading real estate brokerage firm, Gowealthy.com, have been appointed as the leading sales agents to handle commercial sales and marketing of all the seven towers.
GIGCO has offered the investors with a tailor-made 7.5 year payment plan with initial booking deposit of 5% out of the value of the unit as the first installment, followed by another 5% of the value payable within 3 months of booking installments. The rest 90% is payable with equal 1% installments beginning October 2008, in 90 months time span.
The CEO of Gowealthy.com, Peter Penhall says "The initial payment plan during the first phase of the project was very successful with excellent draw for investors. The second phase of GGICO has again increased the bar, with their tailor made plan, which facilitates investors."
GGICO has a well-planned focused strategy for the future, and is poised to replicate its proven track record with successful master developments including Emirates Crown and Horizon Towers in Dubai Marina, Olympic Park in Dubai Sports City, first phase of Axis Residences due for completion towards end of 2008.
The first tower among the seven towers of this project is expected to be ready towards end of 2008, which further boosts the company’s commitment towards delivering an enhanced proposition with all its offerings.
Labels: Apartments
Nakheel launches Veneto, first exclusive residential community in Waterfront
Wednesday, April 16, 2008
Nakheel, the most innovative real estate developers in the world, has announced the launch of Veneto, the most exclusive residential district in Waterfront.
Being the first community to be launched in the largest coastal realty development of the world, Veneto is so designed to create an exclusive waterside neighbourhood on the fringe of Waterfront City in Dubai.
Comprising limited numbers of villas and low-rise townhouses, Veneto features City Center living close to Sheikh Zayed Road, each home located within a reach of less than 2kms from the coastline.
Veneto will have 1400 villas and townhouses, and 1200 low-rise apartments in Dubai. The handover during the initial phase of the villas will be during second half of 2009.
The villas and townhouses will have abundant space around the development, apart from a range of amenities such as the community centers, mosques, nurseries, schools, community pools and health care, apart from wonderful and tranquil environment amidst landscaped parks, waterfront boardwalks, tree-lined walkways, waterways and marina.
The Waterfront Managing Director, Matt Joyce, said "Nakheel launches the first community in Waterfront with immense pride. As far as Dubai is concerned, it is exceptionally rare that villas are located in such a close proximity to city center. So Veneto has something very unique to homebuyers, and more so, because this is a waterfront project."
Labels: Community, Nakheel, Residential, Water front
Ajman property prices likely to soar by 30%
Tuesday, April 15, 2008
The boom witnessed in Ajman property market is primarily due to the economic growth and also due to the development taking place in its neighboring emirates Dubai and Sharjah.
Ajman has several reasonably priced residential projects that cater to the mid0-income groups. In fact, Ajman has the maximum number of medium-level developments, as majority of these are developed by players who are unable to bear the high construction cost of Dubai. To add to this, the new Escrow/Trust Account Law has brought out more stringent rules in Dubai, thereby decreasing the number of new medium-level developments there.
Analysts reveal that the price and rental structure of residential properties in Ajman are extremely moderate. Majority of developers offer affordable payment packages agreeable to mid-income standards. For instance, the price of a single bedroom apartment in Ajman’s Emirates City, is equivalent to that of a studio in Dubai. This has motivated several mid-income category buyers to re-assess their investment patterns.
In Ajman, the prices the average prices for a studio is US$600 per sqm and for a single bedroom apartment, it is US4480 per sqm.
Studies reveal that rates for residential properties in Ajman have surged by 30% in 2007. The demand for smaller units such as studios, single bedroom apartments too are surging, due to influx of expatriates from emirates of Dubai and Sharjah. They find Ajman to be a good residential and investment proposition due to its excellent connectivity to other emirates.
A similar growth rate in Ajman's property prices has been predicted by analysts for the year 2008-09 too.
Social BookmarkingAjman has several reasonably priced residential projects that cater to the mid0-income groups. In fact, Ajman has the maximum number of medium-level developments, as majority of these are developed by players who are unable to bear the high construction cost of Dubai. To add to this, the new Escrow/Trust Account Law has brought out more stringent rules in Dubai, thereby decreasing the number of new medium-level developments there.
Analysts reveal that the price and rental structure of residential properties in Ajman are extremely moderate. Majority of developers offer affordable payment packages agreeable to mid-income standards. For instance, the price of a single bedroom apartment in Ajman’s Emirates City, is equivalent to that of a studio in Dubai. This has motivated several mid-income category buyers to re-assess their investment patterns.
In Ajman, the prices the average prices for a studio is US$600 per sqm and for a single bedroom apartment, it is US4480 per sqm.
Studies reveal that rates for residential properties in Ajman have surged by 30% in 2007. The demand for smaller units such as studios, single bedroom apartments too are surging, due to influx of expatriates from emirates of Dubai and Sharjah. They find Ajman to be a good residential and investment proposition due to its excellent connectivity to other emirates.
A similar growth rate in Ajman's property prices has been predicted by analysts for the year 2008-09 too.
Labels: Ajman, Market Trends, Property Prices
Middle East retail property developers urged to go 'green'
The organizers of Retail City 2008 in Dubai, have urged property developers in Middle East to adhere to the emerging global trend of building 'green' malls, which is something that cannot be ignored.
The fast-paced Arabian Gulf economies have been developing ambitious retail infrastructure projects. The 'Retail City 2008' expected to take place between 1st and 3rd June 2008 at the Dubai International Exhibition Center, will witness a gathering of investors, global retailers, shopping center developers, shopping center management, franchise networks, architects and regional authorities all under a single roof, to focus on all aspects of retail development cycle.
The Project Manager of Retail City 2008, Naomi Koningen, has said that the Middle East retail sector currently exceeds $100bn in value annually, and is second to the residential property sector in the non-oil economy. Hence, it is vital that this huge economic sector takes into account the impact that it bears on the environment and the need for sustainability in design and construction of malls and stores.
Social BookmarkingThe fast-paced Arabian Gulf economies have been developing ambitious retail infrastructure projects. The 'Retail City 2008' expected to take place between 1st and 3rd June 2008 at the Dubai International Exhibition Center, will witness a gathering of investors, global retailers, shopping center developers, shopping center management, franchise networks, architects and regional authorities all under a single roof, to focus on all aspects of retail development cycle.
The Project Manager of Retail City 2008, Naomi Koningen, has said that the Middle East retail sector currently exceeds $100bn in value annually, and is second to the residential property sector in the non-oil economy. Hence, it is vital that this huge economic sector takes into account the impact that it bears on the environment and the need for sustainability in design and construction of malls and stores.
Labels: Environment-friendly, Middle-East, Property-show