Bloom Properties launches Bloom Gardens in Abu Dhabi
Sunday, July 20, 2008
Bloom Properties, the joint real estate development arm of Emirates International Investment Company (EIIC) and the National Holding is launching a luxury residential development Bloom Gardens, located on the prestigious Eastern Mangrove Corniche Road.
The development comprises 640 luxurious detached and semi-detached villas, apartments and townhouses along the seafront. Construction of the landmark project will commence in January 2009.
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The development comprises 640 luxurious detached and semi-detached villas, apartments and townhouses along the seafront. Construction of the landmark project will commence in January 2009.
Being an exclusive gated residential development, Bloom Gardens is just a short distance away from Mangroves. The gardens combine detached villas of four, five, six and seven bedrooms, apart from three and four bedrooms, townhouses, all in a lush landscaped environment, designed by renowned international architects.
Among the other amenities are the concierge services, guard-controlled access for pedestrians and vehicles, restaurants, serviced laundry, clubhouses, coffee shops, safe play areas, tennis and basketball courts, parking space within units, recreational building in the neighborhood, pool house, barbeque and picnic area, apart from retail outlets and convenience stores for everyday use and designer boutiques.
According to Hani Shammah, the CEO of Bloom properties, the Bloom Gardens will be ready by the first-half of 2011.
The Bloom brand takes a fresh approach to property, particularly community-oriented development, bringing about a new generation in property development, setting it apart from other developers in the capital.
Apart from Bloom Gardens, the company is currently developing large scale mixed-use, master-planned communities across the MENA region. The Bloom communities will include unique features with strong operators in hospitality, education, leisure and healthcare facilities, depending on the location.
Labels: Abu Dhabi, Community, Luxury Homes, Residential
Abu Dhabi housing rates higher than in Dubai for first time ever
Friday, July 18, 2008
The housing and rental rates in Abu Dhabi has surpassed Dubai for the first time, says recent industry reports.
According to latest figures released by HSBC, the average rent per square meter in Abu Dhabi was $272 per square meter during the end of 2007, and is $430 per square meter during second quarter of 2008, marking a growth of 58 percent.
During this period, the average rent in Dubai was $343 per square meter during the last quarter of 2007, and $420 per square meter during the second quarter of 2008, marking a 22 percent growth.
Even for purchasing a house, Abu Dhabi witnessed 61 percent growth in house prices, between the last quarters of 2007 and second quarter of 2008, while Dubai saw an increase of 37 percent during the same period.
According to an analyst at HSBC, the main reason behind such a scenario is that the market in Dubai is much tighter, and delivery delays are more apparent. Abu Dhabi is at a premium, as affordability is higher.
The report states that although delays are happening in both Abu Dhabi and Dubai markets, Dubai is experiencing rapid growth, and basic infrastructure such as electricity, water and sewerage systems are unable to match the pace of development.
About 160,000 units were expected to hit the Abu Dhabi housing market by the year 2010. However, at present, Colliers International estimates that only 31,000 units will be available, due to problem with delays.
In another recent Fitch report, Dubai has been warned of a possible oversupply situation with a major influx of housing units into the market towards the year 2009.
However, the report by HSBC predicts that most units would be delivered by the year 2011. The scarcity of housing in Abu Dhabi has prompted people to shift to Dubai, and commute to Abu Dhabi. This may prevent a possible oversupply situation in Dubai.
Analaysts feel that the housing shortage in Dubai too, will remain so, until 2010, when the bulk of supplies hit the market. However, even an oversupply in 2010 cannot be confirmed, due to the continuous ongoing delays in the market.
The report also states that prices in UAE, although on the rise, are still affordable as per international standards. At present the plot prices are an average of Dh.7000 per square meter, and towards end of the year, a residential property sales price of Dh.28000 is expected, which suggests that price growth rate will slow down since the beginning of the year.
Social BookmarkingAccording to latest figures released by HSBC, the average rent per square meter in Abu Dhabi was $272 per square meter during the end of 2007, and is $430 per square meter during second quarter of 2008, marking a growth of 58 percent.
During this period, the average rent in Dubai was $343 per square meter during the last quarter of 2007, and $420 per square meter during the second quarter of 2008, marking a 22 percent growth.
Even for purchasing a house, Abu Dhabi witnessed 61 percent growth in house prices, between the last quarters of 2007 and second quarter of 2008, while Dubai saw an increase of 37 percent during the same period.
According to an analyst at HSBC, the main reason behind such a scenario is that the market in Dubai is much tighter, and delivery delays are more apparent. Abu Dhabi is at a premium, as affordability is higher.
The report states that although delays are happening in both Abu Dhabi and Dubai markets, Dubai is experiencing rapid growth, and basic infrastructure such as electricity, water and sewerage systems are unable to match the pace of development.
About 160,000 units were expected to hit the Abu Dhabi housing market by the year 2010. However, at present, Colliers International estimates that only 31,000 units will be available, due to problem with delays.
In another recent Fitch report, Dubai has been warned of a possible oversupply situation with a major influx of housing units into the market towards the year 2009.
However, the report by HSBC predicts that most units would be delivered by the year 2011. The scarcity of housing in Abu Dhabi has prompted people to shift to Dubai, and commute to Abu Dhabi. This may prevent a possible oversupply situation in Dubai.
Analaysts feel that the housing shortage in Dubai too, will remain so, until 2010, when the bulk of supplies hit the market. However, even an oversupply in 2010 cannot be confirmed, due to the continuous ongoing delays in the market.
The report also states that prices in UAE, although on the rise, are still affordable as per international standards. At present the plot prices are an average of Dh.7000 per square meter, and towards end of the year, a residential property sales price of Dh.28000 is expected, which suggests that price growth rate will slow down since the beginning of the year.
Labels: Abu Dhabi, Latest News, UAE
Al Qudra's Lilac Tower open for sale
Friday, July 04, 2008
Al Qudra real estate has announced its third and final sales offer of the Shades project, the Lilac Tower, at the core of Shams Abu Dhabi, a project master-planned by Sorouh. The Shades project includes five towers-Amber, Lime, Lilac, Azure and Carmine.
Lilac overlooks the Central Park at Shams Abu Dhabi and has been designed to offer unparalleled luxury and comfort. This wonderful infrastructure has 50 Storeys to its credit, comprising studios, single and double bedroom apartments, complemented by a range of quality amenities.
Among the other amenities of the tower are a landscaped rooftop terrace, a business and day care center, fitness and entertainment areas, swimming pool, and ample underground spaces for parking.
The project is open for sale to both UAE nationals and expatriates during the two road shows to be held at the InterContinental Hotel in Abu Dhabi on Saturday, the 5th July, and at the Westin Dubai Mina Seyahi Beach Resort and Marina on Sunday, the 6th July.
Due for completion by 2011, the project offers residents a one-stop-shop intelligent home solution with air conditioning, entertainment and other appliances all under a single roof.
The Acting CEO of Al Qudra Real Estate, Claus Peter Rees, said Lilac Tower has been launched in June and is now looking to commence sales and is hoping for great success.
Rees disclosed that the project has been offered with flexible financing options that offer buyers the opportunity to purchase both floors and individual units under an attractive payment scheme with 30% of amount to be paid during construction period and rest 70% to be given on completion of construction.
Social BookmarkingLilac overlooks the Central Park at Shams Abu Dhabi and has been designed to offer unparalleled luxury and comfort. This wonderful infrastructure has 50 Storeys to its credit, comprising studios, single and double bedroom apartments, complemented by a range of quality amenities.
Among the other amenities of the tower are a landscaped rooftop terrace, a business and day care center, fitness and entertainment areas, swimming pool, and ample underground spaces for parking.
The project is open for sale to both UAE nationals and expatriates during the two road shows to be held at the InterContinental Hotel in Abu Dhabi on Saturday, the 5th July, and at the Westin Dubai Mina Seyahi Beach Resort and Marina on Sunday, the 6th July.
Due for completion by 2011, the project offers residents a one-stop-shop intelligent home solution with air conditioning, entertainment and other appliances all under a single roof.
The Acting CEO of Al Qudra Real Estate, Claus Peter Rees, said Lilac Tower has been launched in June and is now looking to commence sales and is hoping for great success.
Rees disclosed that the project has been offered with flexible financing options that offer buyers the opportunity to purchase both floors and individual units under an attractive payment scheme with 30% of amount to be paid during construction period and rest 70% to be given on completion of construction.
Morina Residences meet record sales
Tuesday, July 01, 2008
First Dubai Real Estate Development Company has reported record sales on its first launch of residential units at Morina Residential Tower, situated near the Gate of Shams Abu Dhabi on Al Reem Island.
The Vice President - Sales and Marketing, Abudul Rahman Al Kandari was quoted as saying that about 25 percent of the project has been sold generating revenue of Dh.136m, as per the marketing plans, while the total value of the project is Dh.400m. The Company has agreed to resume sales even during the construction process, so as to study the price trends in Abu Dhabi market and to take advantage of the current boom.
The project, as of now, is progressing on schedule. Excavation, piling and construction has begun. This distinguished residential project is one of the most important ones in the Abu Dhabi portfolio.
Comprising 29 storeys, the tower covers an area of 63.572 sq. ft., offering exclusive executive homes with stunning canal views, amidst mangrove trees, ample green space and leisure amenities.
According to Al Kandari the strategic location of the tower in proximity of main amenities at Shams Abu Dhabi, public transport network, and water taxis, has added to value of Morina Residences.
The residences are a wide choice of single, double and triple bedrooms, ranging from executive houses to one or two level duplex and exquisite homes of high design and quality. The units are well-equipped with all necessary home appliances with each flat owning a balcony or more. The towers include 24 hour concierge facility, swimming pools, fitness center, club, children’s play area, information center, reception hall, terrace, parking spaces and more.
Al Kandari assured that the company will work towards offering the best quality at Morina Residential Tower, introducing state-of-the-art project, with the same quality of amenities as the recently completed Sky Gardens residential project at DIFC.
Labels: Abu Dhabi, Al Reem Island, Latest News, Sales
Abu Dhabi realty prices to appreciate more than in Dubai
Tuesday, June 17, 2008
A strong growth, backed by huge demand, a growing population and liberalization of the real estate sector, is likely to keep prices strong in the Abu Dhabi real estate sector for the next seven years, reports EFG-Hermes, a regional investment bank.
The report states that the longevity and strength of the real estate phase in Abu Dhabi, is supported by shortages of all types of real estate, controlled by delivery of supply to avoid a surplus, coupled with greater economic liberalization, and creation of a unique identity.
According to the Author of the report, Sana Kapadia, "A strong government presence supports and caps on the amount of real estate that can be built on any given year to mitigate the risk of an oversupply of property."
No major additions of residential units are likely in Abu Dhabi until late 2009, and with the ever-growing demand, the residential market will remain under-supplied until the end of 2009.
It has been estimated that the average price of residential properties will increase by 20 to 25 percent, during the rest of this year, and by 15 to 20 percent in 2009.
Demand for office space, too, will remain strong, with current vacancy rates at 1 percent, and with newer businesses seeking to make their presence in Middle East, it has been predicted.
However, considerable supplies that are likely to come in during 2009, will help cool the rising rents and prices, it is said.
Meanwhile, in a survey conducted by DSL Exhibitions, an international firm, specializing in organizing conferences and exhibitions, real estate investors expect that prices of properties in Abu Dhabi are likely to appreciate more than that in Dubai and other northern emirates.
The survey was done to find out if there exist any differences in the perceptions and attitudes of real estate buyers, between choosing Dubai, Abu Dhabi or one of the Northern Emirates and to underline any apparent trends.
The survey has revealed considerable differences in the attitudes and perception of investors, who choose between the three regions - Abu Dhabi, Dubai and Northern Emirates.
The report states that the longevity and strength of the real estate phase in Abu Dhabi, is supported by shortages of all types of real estate, controlled by delivery of supply to avoid a surplus, coupled with greater economic liberalization, and creation of a unique identity.
According to the Author of the report, Sana Kapadia, "A strong government presence supports and caps on the amount of real estate that can be built on any given year to mitigate the risk of an oversupply of property."
No major additions of residential units are likely in Abu Dhabi until late 2009, and with the ever-growing demand, the residential market will remain under-supplied until the end of 2009.
It has been estimated that the average price of residential properties will increase by 20 to 25 percent, during the rest of this year, and by 15 to 20 percent in 2009.
Demand for office space, too, will remain strong, with current vacancy rates at 1 percent, and with newer businesses seeking to make their presence in Middle East, it has been predicted.
However, considerable supplies that are likely to come in during 2009, will help cool the rising rents and prices, it is said.
Meanwhile, in a survey conducted by DSL Exhibitions, an international firm, specializing in organizing conferences and exhibitions, real estate investors expect that prices of properties in Abu Dhabi are likely to appreciate more than that in Dubai and other northern emirates.
The survey was done to find out if there exist any differences in the perceptions and attitudes of real estate buyers, between choosing Dubai, Abu Dhabi or one of the Northern Emirates and to underline any apparent trends.
The survey has revealed considerable differences in the attitudes and perception of investors, who choose between the three regions - Abu Dhabi, Dubai and Northern Emirates.
Labels: Abu Dhabi, Property Prices, UAE
Aldar unveils Al Ruwais retail realty in Abu Dhabi
Wednesday, June 11, 2008
The leading real estate firm in Abu Dhabi, Aldar Properties, has announced the launch of Dh.500million double-storey shopping center in the Al Ruwais industrial city, located 240 kilometers west of Abu Dhabi.
The project is expected to cater to a growing population of 40,000 by 2010. The Al Ruwais shopping center will house 99 retail outlets, a supermarket, children's entertainment center, food and beverage outlets, and Warner Brothers Cinema Complex.
The Phase One of the project is expected to be complete by October 2010. The second phase would commence next year, the date of which, will be announced later this year. The cost of construction of Phase 2 would be double the cost of Phase one.
According to Ronald Stephen Barrot, the Chief Executive Officer of Aldar, the project is a part of the company's plan to develop other areas in the capital that has the development potential.
"We will own the asset and lease the retail outlets. The built-up area of the shopping center will be about 41,000 square meters." he added.
"We are pleased to see Al Ruwais grow from an industrial complex into a full-fledged urban center, and we feel duty-bound to contribute to the growth. It is a top priority for Aldar to cater to the needs of all residents in the Abu Dhabi emirate," said Ahmed Ali Al Sayegh, Chairman, Aldar Properties.
Al Ruwais retail realty is likely to serve residents in the neighboring cities such as Delma Island, Al Marfaa, Al Ghowifat, Gyathi and Sella, as currently residents of these cities travel to Abu Dhabi for shopping and leisure.
The project is expected to cater to a growing population of 40,000 by 2010. The Al Ruwais shopping center will house 99 retail outlets, a supermarket, children's entertainment center, food and beverage outlets, and Warner Brothers Cinema Complex.
The Phase One of the project is expected to be complete by October 2010. The second phase would commence next year, the date of which, will be announced later this year. The cost of construction of Phase 2 would be double the cost of Phase one.
According to Ronald Stephen Barrot, the Chief Executive Officer of Aldar, the project is a part of the company's plan to develop other areas in the capital that has the development potential.
"We will own the asset and lease the retail outlets. The built-up area of the shopping center will be about 41,000 square meters." he added.
"We are pleased to see Al Ruwais grow from an industrial complex into a full-fledged urban center, and we feel duty-bound to contribute to the growth. It is a top priority for Aldar to cater to the needs of all residents in the Abu Dhabi emirate," said Ahmed Ali Al Sayegh, Chairman, Aldar Properties.
Al Ruwais retail realty is likely to serve residents in the neighboring cities such as Delma Island, Al Marfaa, Al Ghowifat, Gyathi and Sella, as currently residents of these cities travel to Abu Dhabi for shopping and leisure.
Aldar launches second phase of Al Mamoura, Baniyas Towers
Sunday, June 08, 2008
The leading integrated property developer, Aldar Properties, has launched the second phase of Al Mamoura and Baniyas Towers at Abu Dhabi.
The two commercial developments, located at the heart of Abu Dhabi, offer about 62,000 square meters of office space, thereby helping to meet the high demand for office space in Abu Dhabi.
Followed by the pre-letting of the 37,000 square meters of entire Al Mamoura A, another 20,000 square meters at Al Mamoura B, is also due for completion, and will be open for lease by the end of this year.
Baniyas Towers will have another 42,000 square meters of grade A office space to offer in two buildings, that are due for completion by January 2009.
Al Mamoura B and Baniyas Towers will offer 'grade A' office accommodation, including high-end amenities, together with units of flexible size, available for lease. Both developments will have ample parking for its tenants and will be serviced by a high standard of building management.
"Aldar Properties hopes to provide the market with a considerable amount of international grade office space by the year 2009. These projects are being done inline with Aldar’s initiative to meet the requirements of this rapidly evolving city and its high demand for quality office accommodation," said Ahmed Ali Al Sayegh, Chairman, Aldar Properties.
The two commercial developments, located at the heart of Abu Dhabi, offer about 62,000 square meters of office space, thereby helping to meet the high demand for office space in Abu Dhabi.
Followed by the pre-letting of the 37,000 square meters of entire Al Mamoura A, another 20,000 square meters at Al Mamoura B, is also due for completion, and will be open for lease by the end of this year.
Baniyas Towers will have another 42,000 square meters of grade A office space to offer in two buildings, that are due for completion by January 2009.
Al Mamoura B and Baniyas Towers will offer 'grade A' office accommodation, including high-end amenities, together with units of flexible size, available for lease. Both developments will have ample parking for its tenants and will be serviced by a high standard of building management.
"Aldar Properties hopes to provide the market with a considerable amount of international grade office space by the year 2009. These projects are being done inline with Aldar’s initiative to meet the requirements of this rapidly evolving city and its high demand for quality office accommodation," said Ahmed Ali Al Sayegh, Chairman, Aldar Properties.
Labels: Abu Dhabi, Aldar, Commercial Property, Construction Projects
Rents in Abu Dhabi to continue to soar
Thursday, June 05, 2008
Rents in Abu Dhabi, although have reached their maximum best, are likely to increase further, during the next few years, in view of the worsening shortage in supply, reveal recent reports.
According to the Abu Dhabi Chamber of Commerce and Industry The low and middle income expatriates will be the worst affected with the increase in rents, which have more than doubled during the past three years, while the salaries have remained the same.
After years of stability during 1990s and 2000, the property market in Abu Dhabi witnessed a jerk in 2006, due to the strong domestic demand, caused by an economic upsurge that shot up rents to sky-high levels, despite the introduction of rent caps by the government.
The Chamber reports that although the real estate market in the capital was more or less stabilized in 2005, with the 287,000 housing units being able to cover the domestic demand, a surge in demand during 2006, did not meet a similar supply growth. This resulted in a shortage of 3000 units. During the year 2007, the demand-supply gap was more than doubled and touched nearly 8000 and is further expected to touch 20,000 by this year.
The Chamber, in its report, states "Most housing units which will enter the market this year will cater to the hig-income sector, while the low and middle-income category will be the victims of shortage and rent increases."
"We expect a record supply shortage in housing units, which exceeds 20,000. This will aggravate the property situation in the emirate, pushing it from bad to worse, which in turn will affect the economic activities in the emirate and push inflation to new record levels," the report said.
According to property dealers, rents in the capital have increased by more than 25 percent in 2007, and by 15 percent during first quarter of this year. The increase has been attributed to the huge increase in demand and rapid growth in population, an intensifying influx of expatriate workers due to surge in projects in the Capital, failure by landlords to abide by the rent caps, and the concentration of property developers on costlier properties that caters to high-income sector.
"Buildings that are under construction in Abu Dhabi will cater to only 20 percent of the demand. This will only widen the supply shortage, and when coupled with the population growth, it will push rents to record high levels. As rents account for more than 40 percent of consumer spending, this increase will further aggravate inflation in the emirate," states the Chamber report.
Abu Dhabi has one of the highest per-capita incomes in the world, projected to touch Dh.225,000 in 2008. As per figures by the Abu Dhabi Department of Planning and Economy, population in Abu Dhabi has grown by 12.6 percent, and is likely to grow by 7.5 percent his year, which is one of the highest in the world.
Social BookmarkingAccording to the Abu Dhabi Chamber of Commerce and Industry The low and middle income expatriates will be the worst affected with the increase in rents, which have more than doubled during the past three years, while the salaries have remained the same.
After years of stability during 1990s and 2000, the property market in Abu Dhabi witnessed a jerk in 2006, due to the strong domestic demand, caused by an economic upsurge that shot up rents to sky-high levels, despite the introduction of rent caps by the government.
The Chamber reports that although the real estate market in the capital was more or less stabilized in 2005, with the 287,000 housing units being able to cover the domestic demand, a surge in demand during 2006, did not meet a similar supply growth. This resulted in a shortage of 3000 units. During the year 2007, the demand-supply gap was more than doubled and touched nearly 8000 and is further expected to touch 20,000 by this year.
The Chamber, in its report, states "Most housing units which will enter the market this year will cater to the hig-income sector, while the low and middle-income category will be the victims of shortage and rent increases."
"We expect a record supply shortage in housing units, which exceeds 20,000. This will aggravate the property situation in the emirate, pushing it from bad to worse, which in turn will affect the economic activities in the emirate and push inflation to new record levels," the report said.
According to property dealers, rents in the capital have increased by more than 25 percent in 2007, and by 15 percent during first quarter of this year. The increase has been attributed to the huge increase in demand and rapid growth in population, an intensifying influx of expatriate workers due to surge in projects in the Capital, failure by landlords to abide by the rent caps, and the concentration of property developers on costlier properties that caters to high-income sector.
"Buildings that are under construction in Abu Dhabi will cater to only 20 percent of the demand. This will only widen the supply shortage, and when coupled with the population growth, it will push rents to record high levels. As rents account for more than 40 percent of consumer spending, this increase will further aggravate inflation in the emirate," states the Chamber report.
Abu Dhabi has one of the highest per-capita incomes in the world, projected to touch Dh.225,000 in 2008. As per figures by the Abu Dhabi Department of Planning and Economy, population in Abu Dhabi has grown by 12.6 percent, and is likely to grow by 7.5 percent his year, which is one of the highest in the world.
Labels: Abu Dhabi, Real Estate News, Rentals
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.The Deerfields Town Square, set to be nestled at Abu Dhabi's Al Bahia area amidst developments such as the Yas Island, Al Raha Beach, and Khalifa A and B Cities, is all set to offer tenants, residents, and shoppers a holistic experience in working, shopping, and entertainment, all within a single community district.
The close proximity of Deerfields to the Abu Dhabi International Airport, and Abu Dhabi's largest entertainment park -Warner Brothers, and the Formula One Race Track, makes the project more prominent.
Reflecting a true classic Victorian-style architecture, the project features commercial, retail, residential and hospitality components, all spreading across 840,000 square meters of land, covering a total built-up area of 3.2million Square Feet.
The project will also house a mall with a capacity to accommodate more than 200 retailers, and a gamut of anchor shops, food courts, casual and fine dining restaurants, stand alone retail boxes, hyper market, coffee shops and 12-screen multiplex.
The development also houses offices, serviced and residential apartments, hotel and a bird conservatory, which is said to be one-of-its-kind in the country's history.
The CEO of MBI, Mohammed Al Haj, said "Being MBI's first landmark project in Abu Dhabi, the mixed-use community development, Deerfields Town Square, will add a distinctive architectural element to the UAE retail sector, and aims to craft an ideal blend of high-demand retail offerings with an elegant layout and expansive landscaping."
The Deerfields Town Square will merge the alluring charm of the past with the glamour of new age living, offering a year-round of 'quality family time' to the close knit communities and tourists in Abu Dhabi, said Banu Tas, General Manager of Deerfields Town Square.
Labels: Abu Dhabi, Real Estate Projects
Plus Properties unveils The Blue Dolphin Center -landmark commercial project in Abu Dhabi
Sunday, May 18, 2008
Plus Properties has launched Dh.300million worth landmark commercial project in Abu Dhabi. The announcement came during the second edition of Cityscape Abu Dhabi that kicked off on 13th May at the Abu Dhabi National Exhibition Center.
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.
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
Mubadala to launch multi-billion business hub at Sowwah Island
Thursday, May 15, 2008
Mubadala Development Company, the Abu Dhabi Investment Group, announced the launch of a new multi-billion dirham real estate development at the Sowwah Island in Abu Dhabi.
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."
Social BookmarkingThe 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
Bawabat Al Sharq - mixed-use development unveiled in Abu Dhabi
Wednesday, May 14, 2008
Bawabat Al Sharq, a 108-hectare mixed-use development, worth Dh.2.2bn, has been launched by Bani Yas Investment and Development (BID) in Bani Yas City of Abu Dhabi.
The project which include residential, entertainment, retail and sporting amenities, also houses the new headquarters and sports amenities for Bani Yas Sports Club, including the FIFA-standard Football stadium, with a seating capacity of more than 20,000 spectators.
The Phase one of this project is likely to be complete towards early 2010.
Bawabat Al Sharq also features a 134,409 square meters shopping center, and a parking space for more than 2200 vehicles. It includes other amenities such as medical center, schools, health club, speciality training clubs, international hypermarket, 16 food court outlets, pharmacies, banks, cinemas and coffee shops.
The BID Chairman, Jawaan Al Khaili, says "Bawabat Al Sharq, apart from enhancing the leisure and tourism appeal of Bani Yas, will also offer a major impetus to the economy of the region."
The project which include residential, entertainment, retail and sporting amenities, also houses the new headquarters and sports amenities for Bani Yas Sports Club, including the FIFA-standard Football stadium, with a seating capacity of more than 20,000 spectators.
The Phase one of this project is likely to be complete towards early 2010.
Bawabat Al Sharq also features a 134,409 square meters shopping center, and a parking space for more than 2200 vehicles. It includes other amenities such as medical center, schools, health club, speciality training clubs, international hypermarket, 16 food court outlets, pharmacies, banks, cinemas and coffee shops.
The BID Chairman, Jawaan Al Khaili, says "Bawabat Al Sharq, apart from enhancing the leisure and tourism appeal of Bani Yas, will also offer a major impetus to the economy of the region."
Labels: Abu Dhabi, New Developments
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
Aldar plans first-of-its kind investment funds in UAE
Saturday, April 12, 2008
The largest property developer in Abu Dhabi plans to launch four realty investment funds that offer exposure to the booming property market of the emirate.
The Chief Executive Officer of Aldar, Ronald Barrott, said that the funds, one each for retail, office, residential and hotel property, will be launched next year, with a view to expand the funds so as to eventually make it multibillion-dollar vehicles.
The funds will be the first of its kind for Aldar and the UAE. The company, which has about 25 percent of its shares directly or indirectly owned by the government, has its remaining shares floated on the Abu Dhabi Securities Market, with a development portfolio of $65bn. Aldar is responsible for atleast one-third of the development happening in Abu Dhabi.
The final details are yet to be worked out, but, Aldar will manage the funds and carry a certain percentage of shares, with the remainder kept open to domestic and foreign investors.
Abu Dhabi is the richest emirate in the UAE and home to 95 percent of its hydrocarbon resources.
Just as in Dubai, even Abu Dhabi is going through an extraordinary boom to develop and diversify its economy and raise its profile.
Social BookmarkingThe Chief Executive Officer of Aldar, Ronald Barrott, said that the funds, one each for retail, office, residential and hotel property, will be launched next year, with a view to expand the funds so as to eventually make it multibillion-dollar vehicles.
The funds will be the first of its kind for Aldar and the UAE. The company, which has about 25 percent of its shares directly or indirectly owned by the government, has its remaining shares floated on the Abu Dhabi Securities Market, with a development portfolio of $65bn. Aldar is responsible for atleast one-third of the development happening in Abu Dhabi.
The final details are yet to be worked out, but, Aldar will manage the funds and carry a certain percentage of shares, with the remainder kept open to domestic and foreign investors.
Abu Dhabi is the richest emirate in the UAE and home to 95 percent of its hydrocarbon resources.
Just as in Dubai, even Abu Dhabi is going through an extraordinary boom to develop and diversify its economy and raise its profile.
ACI, Al Odaid deal signed to launch new development at Al Reem
Friday, April 04, 2008
ACI Real Estate, an affiliate of Alternative Capital Invest in Germany, has entered into a strategic partnership with Al Odaid Real Estate in Abu Dhabi, to launch a new development at Capital Bay on Abu Dhabi's Al Reem Island.
The development comprises five residential towers, all built on a single podium. Each tower will comprise about 17 to 22 storeys on a total built up area of 1.2 million square feet. Apart from this, the residents will have the opportunity to enjoy a plethora of state-of-the art amenities such as the gymnasiums, roof top pools and Jacuzzi.
Located along the northern shores of Abu Dhabi, The Al Reem Island is a natural paradise, anchored on the pristine blue waters of the Arabian Sea.
The Managing Director of ACI, Robin Lohmann, said "The partnership with Al Odaid opens a new chapter in our expansion across the UAE. Moving in to Abu Dhabi will not only add value to our portfolio, but, will also signify our commitment to align ourselves with industry leaders, who share our passion for innovative realty projects."
Social BookmarkingThe development comprises five residential towers, all built on a single podium. Each tower will comprise about 17 to 22 storeys on a total built up area of 1.2 million square feet. Apart from this, the residents will have the opportunity to enjoy a plethora of state-of-the art amenities such as the gymnasiums, roof top pools and Jacuzzi.
Located along the northern shores of Abu Dhabi, The Al Reem Island is a natural paradise, anchored on the pristine blue waters of the Arabian Sea.
The Managing Director of ACI, Robin Lohmann, said "The partnership with Al Odaid opens a new chapter in our expansion across the UAE. Moving in to Abu Dhabi will not only add value to our portfolio, but, will also signify our commitment to align ourselves with industry leaders, who share our passion for innovative realty projects."
Labels: Abu Dhabi, Al Reem Island, New Developments
Details revealed for Aldar's Al Dana in Raha Beach development
Sunday, March 16, 2008
The plan details of the $5billion commercial development, Al Dana, located at the center of the Raha Beach development in Abu Dhabi has been revealed by Aldar Properties.Several buildings are already under construction, including the four integrated buildings that make up the World Trade Center and the Gateway building, designed by the renowned architect, Rafael Vinoly himself, who designed the new World Trade Centre at New York.
The total investment value at the 10.5kms Al Raha Beach development is worth $48bn, including the $5bn Dana, located at the core of the development. Dana will house Aldar's headquarters, due to be ready by September 2009, apart from three international hotels. Seven other hotels are already housed in the development, on the Yas Island, as a part of the 40-hotel programme, to be developed during the coming years.
Aldar has reported a strong growth of Dh.1.2billion last year, and aims to exceed this figure during the first quarter of this year. The company has already begun delivering few of its developments at Raha Gardens to UAE nationals, and more projects are expected next year.
Aldar's Chief Executive Officer, Ronald Barrot, said "Our sales during the first half of 2008 exceeds the Dh.1.2bn mark and has grown more than Dh.2bn. Apart from exposing Abu Dhabi and Aldar to the international community, we are also always on the look out for partnerships."
With this, the total projects that are under construction in Abu Dhabi exceeds $90bn, including the $40bn Yas Island, and the iconic Old Market in the Abu Dhabi City Center.
With this, the total projects that are under construction in Abu Dhabi exceeds $90bn, including the $40bn Yas Island, and the iconic Old Market in the Abu Dhabi City Center.
Labels: Abu Dhabi, Al Raha Beach, Aldar
Hydra Properties launches Hydra Heights Tower at Al Reem Island
Monday, March 10, 2008
A leading UAE realty developer, Hydra Properties has revealed the launch of Hydra Heights Towers at Al Reem Island in Abu Dhabi.The Hydra Heights Towers will be a group of three residential towers, each being 30-storey in height, so designed that it will adhere to the eco-friendly concepts while also utilizing the finest in state-of-the-art technology.
The 'Hydra Heights Towers' are a unique realty development with tenants offering the latest in smart home technologies, apart from facilities of convenience and comfort required for today's fast-paced lifestyle.
The CEO of Hydra Properties, Dr. Sulaiman Al Fahim, said "Today's modern and connected lifestyle requires that applications within a living space are in tune with the lifestyle behavior of its occupants. In this development, we have ensured that the needs of all tenants are well addressed through the smart home concept."
Dr. Sulaiman also assured that this luxurious development would be one of the most prestigious developments by Hydra Properties.
The Abu Dhabi-based Hydra Properties has been rated as one among the most influential fifty realty developers in the Middle East and Arab World, according to Arabian Business Magazine.
Labels: Abu Dhabi, Al Reem Island, Residential
Prices of Abu Dhabi homes likely to shoot-up by 20 percent
Saturday, March 08, 2008
The price of homes in Abu Dhabi is likely to shoot-up by at least 20 percent in the current year, states a report from Sorouh Real Estate.
The report indicated that demand surpasses supply, and negative real interest rates are contributing to more investments. The Europeans are investing in the UAE, with an intention to make better use of their Euros, while the dollar is declining, taking the UAE dirham with it.
The five-fold increases in oil prices during the past six years have boost Abu Dhabi's economy and the low interest rates have led to more investments in real estate.
The Chief Property Development Officer of Sorouh, Gurjit Singh, said "We easily notice a growth of 20 percent this year. We are seeing the growth phase and it is still very early on the clock."
He said that the average prices for residential sectors range between Dh.1300 and Dh.1700 per square foot. The numbers of Europeans investing in Abu Dhabi residential sector falls between 8 and 12 percent, and the numbers are on the rise due to the strength of Euro and the Pound.
Sorouh is also developing realty projects worth Dh.40bn, Singh revealed.
Social BookmarkingThe report indicated that demand surpasses supply, and negative real interest rates are contributing to more investments. The Europeans are investing in the UAE, with an intention to make better use of their Euros, while the dollar is declining, taking the UAE dirham with it.
The five-fold increases in oil prices during the past six years have boost Abu Dhabi's economy and the low interest rates have led to more investments in real estate.
The Chief Property Development Officer of Sorouh, Gurjit Singh, said "We easily notice a growth of 20 percent this year. We are seeing the growth phase and it is still very early on the clock."
He said that the average prices for residential sectors range between Dh.1300 and Dh.1700 per square foot. The numbers of Europeans investing in Abu Dhabi residential sector falls between 8 and 12 percent, and the numbers are on the rise due to the strength of Euro and the Pound.
Sorouh is also developing realty projects worth Dh.40bn, Singh revealed.
Labels: Abu Dhabi, Latest News, Rentals
ACI plans expansion in UAE property market
Monday, February 25, 2008
ACI, the real estate