Sunland Group unveils Nur - a boutique residential tower
Saturday, May 31, 2008

'Nur', which implies 'light' in Arabic, follows the success of the company's earlier developments, D1 and Palazzo Versace, also in Culture Village.
The project is launched through joint-venture with London's Peacock Ventures Limited, and comprises 191 single and double bedroom apartments, two luxurious five bedroom penthouses, split at two levels. The sizes of the apartments vary from 767 square feet for a single bedroom apartment, to 1412 square feet for a double bedroom apartment, with additional private space for balcony.
The Founder and Managing Director of Sunland Group, Soheil Abedian, said "We have pre-sold about 70 percent of Nur, without any major marketing campaign, due to the cachet and quality of the apartments, the value for money, and the proven success track of the Sunland brand."
Labels: Apartments, Cultural-Village, Penthouse, Residential
Abyaar, Mada'in join hands to launch $817m worth projects
According to the Abyaar Vice-Chairman and Managing Director, Al-Rashdan, the projects mark the beginning of a long-term partnership between the two companies, specializing in state-of-the-art high-end development.
The first project will be located at the prestigious Dubai Marina, and comprises 107 exclusive units, along with townhouses. The construction of the tower is due to begin by second half of this year.
The next project would be the Meydan master development, which has been long-awaited. Meydan, located near Nad Al Sheba in Dubai, is an area renowned for hosting of Dubai World Cup.
Combined plots with total built-up area of 884,815 square feet, will be developed as mixed-use development and will comprise residential, commercial and retail segments. The design and conceptualization work has already commenced.
Al-Rashdan has confirmed that the high-end quality will be maintained throughout their project, which targets the discerning, niche investor.
The CEO of Mada'in properties Abdulaziz Al Alwar said that the company has already made its presence felt with their first launch Marina Arcade at Dubai Marina. The 64 storey development was one-of-its-kind offering smart home technology, landscaped roof top gardens, largest health and fitness centers, full scale jogging track, rooftop townhouses with Jacuzzis, penthouses, duplexes and Sky Palace.
Labels: Real Estate News
Dubai office rents tenth most expensive in the world

Mumbai rents had increased by just over 11.3% during the same period, and the city slipped down from the second to the fourth position in the world rankings.
The price per square foot this year in Dubai is $128.45, as against Mumbai at $210.97. An office for 30 people, based on 100 square feet per person, will now cost at $309,600 per year in Dubai, up from $294,960 about a year ago.
London's West End has once again been recorded as the most expensive office market in the world, followed by Moscow, Inner Central Five Wards of Mumbai, and Outer Central Five Wards of Tokyo.
On the whole, Europe, Middle East and Africa (EmeA) region dominated the list of world's fastest growing occupancy costs, accounting for five of the top ten, and nineteen out of the top fifty markets.
Worldwide, about 88% of the 173 office markets monitored, reported higher occupancy costs.
"Office occupancy costs are continuing to resist sluggish economic conditions, and the credit crunch, as they rise even faster than global inflation," said CBRE's global Chief Economist, Raymond Torto.
With the increase in cost being dominated by emerging markets, due to supple-demand imbalance, and dollar depreciation, the Class A office space is seriously lacking in few of these emerging markets.
Labels: Dubai Real Estate, Office Space, Rentals
New global realty firm Property House launched in Dubai
Friday, May 30, 2008
With a landbank of about six million square feet in Dubai and Ajman, Property House plans to launch several new projects in UAE this year.
The Chief Executive Officer and Managing Director of Property House, Mohammad Nazir, said "Dubai is a market brimming with high yield potential. It has been said that development is the only constant thing in the real estate market, and Dubai, no doubt, is the best examples of this theory."
The General Project Manager of Property House, Amit Kochar, revealed that among the projects to be launched, the first two projects will be one residential and one commercial, out of which, one will be launched in Dubai next month.
The first residential project, will be worth Dh.250mn to Dh.500mn.
Property House has also invested heavily in the 115-acre Al Helio Downtown City of Ajman. This mini-city will be based on Chicago's and New York's grid system and aims to house 32000 residents and attracts an additional 24000 for work purposes.
Developed by South Korean developer, DSECO, the construction of the mini-city will commence this year and will be complete by 2013.
The company also announced future expansion plans to the rest of UAE.
Labels: Dubai Real Estate, Real Estate Company
Deyaar launches Mirar Residences in DuBiotech
Thursday, May 29, 2008
The buyers of Mirar Residences can avail financing from a series of home finance providers such as Amlak Finance, Abu Dhabi Commercial Bank, Dubai Islamic Bank, RAK Bank and Tamweel.
DuBiotech is a master development aimed toward creating an advanced technical and community infrastructure to accelerate the growth of life science industry within the region.
Region's investment in theme parks exceeds Dh.11 trillion
Tuesday, May 27, 2008

The forthcoming attractions in the region include the Restless Planet and Universal Studios in Dubailand, Entertainment City in Qatar, Ferrari World in Abu Dhabi, Aquaventure Waterpark at Atlantis in Dubai, Warner Bros theme park at Abu Dhabi, Marvel Entertainment Theme Park in dubai, Paramount Pictures-branded theme park in Dubai and the WOW RAK theme park comples in Ras Al Khaimah.
As per the region's current estimates, the entertainment and leisure sector is witnessing an annual growth of 20 to 25 percent, touching Dh.36billion.
Dubailand, the Dh.235bn tourism and entertainment project is being built in the emirate, announced that it would be located at new Dream Works Animation theme park, through a strategic alliance with the US studio. Comprising a collection of 24 theme parks, Dubailand will be the biggest leisure attractions in the world.
The construction of theme parks will happen in phases. The preliminary design work and site planning is underway and the first phase is likely to open by 2012.
The massive investment on theme parks is expected to increase demand for gardening equipment and products and services of landscape design companies and landscape artists too are likely to increase considerably over the next couple of years in the region.
Labels: Middle-East, Theme-Parks, Tourism
Al Barakah real estate group to build tallest tower in Ajman

Labels: Ajman, Business Tower
JMS unveils luxury hotel & commercial tower -Sharjah Jewel
Monday, May 26, 2008
Labels: Commercial Property, New Hotels, Sharjah
Julfar Towers in Ras Al Khaimah completes 30 storeys
Saturday, May 24, 2008

Labels: Construction Projects, Freehold Property, RAK Properties, Ras Al Khaima
Freehold residential development The Residences unveiled at Jumeirah
The development which offers 277,929 square feet of premium quality residential and retail space with ample parking, comprises 10 storeys which accommodates 146 units. There are 23 studios, 95 single bedrooms, 21 double bedrooms and 7 lofts. The project offers easy access to hotspots in Dubai such as the Dubai Marina, the Dubai Sports City and the Dubai Internet City (DIC).
Designed by Dimension Engineering Consultants, the project offers various amenities such as the gymnasium, steam room, swimming pool, sauna and Jacuzzi. The Loft apartments on the top floors of the project have their own privateThe Managing Director of Al-Duaa Holdings, Noreen Khan, said "We take special care in the design phase to ensure that unit layouts reflect unique features that offer a sense of individuality to them. The Residences enjoy its share of privacy, natural light and views of the city."
swimming pool.
As per recent studies, the demand for The Residences in Dubai is likely to grow by an average of 24,000 units by end of 2008 and potentially by further 45,000 units towards the year 2015 so as to cater to the expected 1.4million increase in population.
Al Duaa launched The Plaza, a mixed-use development on February. Al Duaa plans to launch another ambitious project 'Al Duaa World Islands' on The World Island during September this year.
Labels: Freehold Property, Jumeriah Village
Al Fara'a announces complete sales of Image Residences first phase
Thursday, May 22, 2008
Al Fara'a Properties, a flagship subsidiary of Al Fara'a Construction, Industrial and Property Group, has announced complete sales of the first phase of Dh.505mn 'Image Residences', within days after launch.Being a luxury residential project, it generated interest from global and regional investors. The developer seeks to leverage the project's sales to further strengthen their expansion plans.
The success of the project has been attributed to its high quality and wide range of offerings, which include studio, single, double, and triple bedroom apartments and townhouses. Comprising 17 storey and 11 storey tower, the development boasts of smart home technology, apart from other amenities such as landscaped leisure deck on the podium, swimming pool, childrens pool, fully-equipped gym, and outdoor seating, and BBQ area.
The retail outlets on the groundfloor are also available for benefit of future residents. Image Residences are the perfect fit at the Downtown Jebel Ali development, which is a 200 hectare mixed-use urban community, stretching 11km across Sheikh Zayed Road and comprises three individual districts- The Trellis District, the Urban Center and Medina. The Medina District will be the ideal backdrop to Image Residences and other mid and low-rise residential neighborhoods.
Small cafes, courtyards, plazas and local shops actually accentuate the overall family-friendly environment of the district, that boasts of cobblestone streets and pathways which entice residents to walk around and experience the tranquility of new residential hub.
Labels: Latest News, Luxury Homes, Sales
AAA Appraisers launches the Eclipse Tower in Dubai
The project, which covers a gross built-up area of 350,000 square feet, with an additional 55,000 square feet of retail space, will also feature a sky golf course."This is a record of sorts. Dubai has never experienced a sky golf course, featuring bunkers, water hazards and pioneering water management system that maintains the golf course with minimal wastage of water," said Ebrahim, the General Manager of AAA.
The project also introduces another new concept in Dubai, wherein, the moment investors buy an office in the tower, they will be able to move into a fully furnished office. In the normal course projects, on the other hand, businesses will have to wait for two to three years before the keys of their office are handed over. The company aims to introduce a paradigm shift in the realty industry this way.
Featuring high standard modern amenities that promote both convenient and professional business standards, it also includes options for relaxation after the hectic working hours. The officer offer stunning views of the canal within the Jumeirah Village South, while the five high-speed elevators carry employees to their respective offices in a fast and comfortable manner. The golf course in the tower is the first-of-its-kind to be built in a commercial office tower in Dubai, which offers clients and businessmen a unique working environment.
Ideally located amongst the major roads in Dubai - the emirates road and Al Khail Road, the commuters no doubt will be benefited from the new metro too, which links the Dubai International Airport to its new residential development. The prime location is sure to attract foreign investors who further promote the growth of Dubai's currently blossoming economy.
Construction of the project is likely to commence by end of September 2008, and will be complete by end of 2010.
The sales of the tower will be launched within the next few months at the rate of Dh.1600 per square foot.
The Eclipse Tower, has already received approval from Dubai's RERA (Real Estate Regulatory Authority) and has an escrow account with Emirates Islamic Bank.
Labels: Business Tower, Jumeriah Village, Office Space
Worldwide Property Show on May 22-24 at Grand Hyatt Dubai
Tuesday, May 20, 2008
Cityscape Abu Dhabi which closed last week is just one example of why the world's battered real estate industry is putting the Gulf States and in particular the United Arab Emirates high on their sales and marketing agendas.
With the subprime crisis taking its toll across the States, and the knock on effect also hitting Europe, builders and agents are desperately looking for new territories to shift their residential and commercial property stock.
Dubai based organiser Mike Bridge from Dubai Shows Ltd said, "In the past 15 years, since we have been running our Worldwide Property Shows, we have never had some many agents and developers from such a wide area abroad requesting to participate. This week's show has in fact broken all records for us, with over 85 exhibitors representing 34 countries taking part, many travelling across the globe to market their projects to buyers here in Dubai."
With home owners across the States would be lucky if even one buyer walks up their garden path just to view, exhibitors in Abu Dhabi last week were actually having to employ security guards just to hold back eager buyers and investors all pushing to grab a piece of the latest tower block in the capital. Even the UAE government asked the organisers to extend the show by a day, to allow buyers the time to put down their deposits!
Bridge added, "This weeks Worldwide Property Show has a large number of US exhibitors taking part. One agent from Orlando told us that where in the past buyers were paying top dollar for his villas, developers are now offering the same homes at knock down prices and will include all the furnishings plus the pool as well. He added that due to the weak dollar this region has actually seen an increase in rental income as Europeans in particular flock to the theme parks. Mickey he told us is it seems...subprime proof!"
"Many UAE based residents who have made a reasonable returns on their property portfolios here, are prepared to spread their buying power, and are now able to pick up some exceptional deals overseas, while remaining active in the local market as well," said Bridge.
The Worldwide Property Shows are being held on May 22nd-24th at the Grand Hyatt Dubai and on May 28th-31st at the Bahrain International Exhibition Centre.
For further inforamtion contact: Dubai Shows Ltd, Tel +9714 321 6166, Mobile +97150 6535623, Email: Pooja@dubaishows.com
Labels: Property-show, UAE
Damac delivers 572 units of Lake Terrace project
Damac, the leading Dubai-based developer has announced the completion and hand-over of 572 units of its Lake Terrace project at the Jumeirah Lake Towers. This marks their first step in handing over of around 16 projects by 2010.Damac is expected to deliver five projects in 2008 and 11 projects in 2009 - 2010.
Damac Chairman, Hussain Sajwani, said "The year 2007 witnessed a slower pace of completed projects with only 11000 units being handed over our of the 57000 units across the region. The region has been facing a steep challenge in delivery of projects due to shortage of quality contractors and rise in costs of construction material."
Damac will deliver more than 2300 new units in 2008 and we expect to deliver an additional 7100 units in 2009-2010, he added.
Followed by the delivery of 572 units in Lake View at Jumeirah Lake Towers in 2008, the company plans to deliver 192 units in Executive Heights at Tecom, 198 units in Tera Del Sol 1 and 2, and 848 units at The Crescent at IMPZ.
Sajwani revealed that nearly 2100 projects are planned or are underway in the Gulf region, with more than 23 percent of these in Dubai.
"The property boom in the region, particularly Dubai, has outgrown the region's capabilities to develop projects on time. The delivery of out Lake Terrace projects is a major step towards our commitment on timely completion of projects," he added.
Labels: Damac Properties
MBI unveils first landmark project Deerfields Town Square in the Capital
Monday, May 19, 2008
Mubarak and Brother Property and Financial Investments (MBI), a major real estate, construction and infrastructure company, has announced the unique aspects of their first landmark project, Deerfields Town Square, at the Abu Dhabi Cityscape Exhibition 2008. The exhibition is likely to conclude today, the 16th May 2008.Labels: Abu Dhabi, Real Estate Projects
Plus Properties unveils The Blue Dolphin Center -landmark commercial project in Abu Dhabi
Sunday, May 18, 2008

The world-class Dh.300mn project namely 'The Blue Dolphin Center', which was unveiled at the exhibition, has been designed by Hilal and Partners, and is expected to the first freehold office and retail centers at Abu Dhabi's Al Raha Beach.
The project includes mostly executive suites designed as per highest quality standards and equipped with latest technology services and superior amenities that are ideal for any type and size of the company. The office suites range from 1200 to 6000 square feet in area, and enjoy beautiful views of waterfront.
The Al Raha Beach, which forms the magnificent new gateway of Abu Dhabi, also promises to be the most spectacular new address of the Gulf. Spreading across 500 hectares of land, the development is located on the beach side of the main highway which connects to Abu Dhabi from Dubai.
Comprising 11 precincts, the Al Raha Beach is home to a variety of dynamic commercial projects and relaxed beachfront communities.
The development aims to be a leading waterfront home to residents and tourists offering its customers the best parks, hotels, marinas, and other leisure amenities linked together by a wonderful network of bridges and canals.
The CEO of Plus Properties, Georges Chehwane, said "Being a major player in the booming real estate market of the region, with primary focus on UAE, we look forward to consolidate our presence and strengthen our ties with current and prospective business associates and regional and international investors."
"Through Cityscape Abu Dhabi, Plus Properties has got an opportunity to contribute towards the buoyant real estate scene in Abu Dhabi. We also look forward to share some of out future launches including the Ashrafieh and Verdun Residential Towers with professionals in industry and the general public."
In a span of less than a year since its inception, the Plus Properties now owns more than Dh.14.16 billion worth of prestigious projects to its credit.
Labels: Abu Dhabi, Al Raha Beach, Commercial Property, Freehold Property
Emaar Bawadi unveils key components of first mixed-use project Asmaran
Saturday, May 17, 2008
Labels: Asmaran, Bawadi, Dubailand, Real Estate Projects
Mubadala to launch multi-billion business hub at Sowwah Island
Thursday, May 15, 2008
The project, named Sowwah Square, truly reflects the target that has been designated to Sowwah as the central business district of the city, as per the strategic urban plan of Abu Dhabi. It will host the new headquarters of Abu Dhabi Securities Exchange (ADX) and major Banking and Financial Institutions.
Developed through a joint venture between John Buck International (JBI) and Mubadala, the Sowwah Square comprises a total building area of 585,000 square meters, and houses the ADX headquarters at its center.
Offering advanced infrastructure, surrounded by four Grade A commercial towers with 30 to 36 storeys, ADX will occupy the new premises on lease basis, and offers hotel, office and retail amenities. Out of a total of 585,000 square meters of the development, about 285,000 square meters comprises office space.
This is the second mega realty project of Mubadala in Abu Dhabi within a month, after the joint-venture with Singapore's Capital last month, which reflects the growing interest the company has in investing in the promising realty sector of the capital.
The Chief Finance Officer of Mubadala, Carlos Obeid, says "What has been achieved in Abu Dhabi during the past couple of years is nothing compared to the growth expected during the next few years, and we are capitalizing on the growing demand for real estate in this context."
Labels: Abu Dhabi, Sowwah-Island


