Mada'in announces first commercial venture 'The Domain'
Monday, July 07, 2008
Mada'in Properties has announced the venture of their first commercial project, 'The Domain', a 14 storey tower, at Dubai Silicon Oasis, worth Dh.400 million.
Spreading across a land area of 7.2million square meters, with a built-up area of 303,159 square feet, The Domain is an integral part of series of projects to be launched by the company during the course of the year.
The Prices of the tower begin with Dh.1650 per square foot. Conveniently located in the Dubai Silicon Oasis, The Domain is easily accessible from the Dubai International Airport, Sheikh Zayed Road, the City Center, Al Khail Road and Emirates Road.
The Domain, located within a rich corporate ambience, is best suited for multinational companies, and includes a series of impressive facilities with 647 parking spaces, state-of-the-art gymnasium, swimming pools, restaurants, retail outlets and cafes. The fifth floor of the tower will feature a garden spreading across 18,348 square feet. The offices within The Domain will be equipped with smart office software, for better convenience of its occupants.
The Chief Operating Officer of Mada'in Properties, Kieron O'Connor revealed the plans of the company to launch few more projects, with a total value of nearly Dh.3billion, in Gulf this year.
"With this architectural wonder, we offer multinational companies with an ideal platform for conducting their businesses. Just as all our other properties, The Domain, too, will include the same aesthetic elements and sophistication that Mada’in has been known for," said Abdul Aziz Al Awar, the CEO of Mada'in Properties.
The development is due for completion in 2010. Mada'in had recently announced a Dh.1.25bn development, Marina Arcade in Dubai Marina.
At present, out of about 65 projects being developed in Dubai Silicon Oasis, 40 percent are commercial.
Spreading across a land area of 7.2million square meters, with a built-up area of 303,159 square feet, The Domain is an integral part of series of projects to be launched by the company during the course of the year.
The Prices of the tower begin with Dh.1650 per square foot. Conveniently located in the Dubai Silicon Oasis, The Domain is easily accessible from the Dubai International Airport, Sheikh Zayed Road, the City Center, Al Khail Road and Emirates Road.
The Domain, located within a rich corporate ambience, is best suited for multinational companies, and includes a series of impressive facilities with 647 parking spaces, state-of-the-art gymnasium, swimming pools, restaurants, retail outlets and cafes. The fifth floor of the tower will feature a garden spreading across 18,348 square feet. The offices within The Domain will be equipped with smart office software, for better convenience of its occupants.
The Chief Operating Officer of Mada'in Properties, Kieron O'Connor revealed the plans of the company to launch few more projects, with a total value of nearly Dh.3billion, in Gulf this year.
"With this architectural wonder, we offer multinational companies with an ideal platform for conducting their businesses. Just as all our other properties, The Domain, too, will include the same aesthetic elements and sophistication that Mada’in has been known for," said Abdul Aziz Al Awar, the CEO of Mada'in Properties.
The development is due for completion in 2010. Mada'in had recently announced a Dh.1.25bn development, Marina Arcade in Dubai Marina.
At present, out of about 65 projects being developed in Dubai Silicon Oasis, 40 percent are commercial.
Labels: Commercial Property, Dubai Silicon Oasis
Emaar expands further with the launch of Warsan Estate
Monday, June 30, 2008
Emaar Properties has unveiled an exclusive residential community, Warsan Estate, at Al Awir Road. This project marks Emaar's expansion into new geographic locale in the city.
Located along an exclusive residential community on Al Awir Road, Warsan Estate is a medium-sized community whose master-plan is being finalized. Spreading across 3.4million square feet, Warsan Estate will include 500 single family townhomes, which is just apt for residents seeking the privacy of villa in a well-planned residential community.
Warsan Estate is located away from the bustle of the city, and is in close proximity with leisure avenues such as Global Village, Dubai Autodrome, while
also being easily accessible to Abu Dhabi, Sharjah and the rest of Dubai. Warsan Estate offers various lifestyle options that are usually found in Emaar communities.
The Managing Director of Emaar Properties - UAE, Ahmad Al Matoushi said "Warsan Estate is a reiteration of our commitment to develop world-class master-planned communities in Dubai.
Followed by four successful mega-projects in Dubai including the Arabian Ranches, Emirates Living, Downtown Burj Dubai and Dubai Marina, which are either handed over or in their final stages, we are now focusing on building a core competency of master-planned communities."
By developing new townhomes, Emaar caters to the fast-growing demand for villas and townhomes in the city.
Labels: Commercial Property, Emaar, Residential, Townhouses
ACI and Escan Real Estate to develop Dh2bn Escan Tower
Sunday, June 29, 2008
ACI Real Estate, the German developer, together with Escan Real Estate, has announced their plan to develop the only freehold commercial tower, the Escan Tower, on Sheikh Zayed Road at a cost of Dh.2billion.
The Escan Tower comprising 60 storey will offer a mixed-use space of 570,000 square feet on Shaikh Zayed Road, opposite Mazaya Center. The storey one to twenty will be exclusively reserved for office space, while floors twenty one to sixty will be set aside as residential units, apart from high-end retail and dining facilities.
Escan Tower owns the credit of holding "rare freehold status on prime real estate", reveals the Chairman of Escan, Saeed Mattar Bin Belaila. It is also the first freehold commercial building on the highway, which contributes significantly to the landscape of Sheikh Zayed Road.
The tower also includes a five-storey business center, and currently talks are on regarding the company which will brand the center. The selected company will be announced during the coming weeks, reveals the Managing Director of ACI, Robin Lohmann.
Ever-since its entry into the Dubai realty market in 2004, ACI Real Estate has invested more than Dh.10bn in Dubai. ACI is planning several new exciting projects by end of the year.
Escan has a portfolio of more than Dh.13bn but this year it is set to jump higher, and plans to touch Dh.20bn.
Escan has a portfolio of more than Dh.13bn but this year it is set to jump higher, and plans to touch Dh.20bn.
Labels: Commercial Property, Freehold Property, Office Space, Sheikh-Zayed-Road
SIT Tower -new hitech commercial destination at Dubai Silicon Oasis
Thursday, June 19, 2008
Dubai Silicon Oasis has witnessed the launch of another commercial project, the S.I.T. Tower, which is expected to be Dubai's new hi-tech commercial destination.
According to developer of the project, Muhammad Nasir Muhammad Iqbal, the development is likely to meet considerable success due to its unique features, and the prime location.
It has been formed through strategic partnership with Sherwoods Independent Property Consultants and First Choice Real Estate, which further boosts confidence in the project, he added.
The S.I.T Tower, which was unveiled at the Westin Dubai Mina Seyahi Beach Resort and Serdaal Ballrom, features a good combination of excellent business location with world-class amenities, and attractive payment schemes that make it an attractive investment among investors.
About 25% of the tower is already complete. An escrow account has been opened, which has gained the approval of Dubai's RERA (Real Estate Regulatory Authority). Other key amenities of the tower are high-end retail shops, and complete range of restaurants and cafes.
Being located in Dubai Silicon Oasis, the tower appears to be an attractive investment option to foreign investors, as it permits 100 percent foreign ownership with zero personal and corporate taxation, and many other privileges of free-zone.
The commercial complex will take advantage of a thriving urban community, with a master-planned residential environment nearby, apart from a world-class infrastructure, and easy access to Dubai's International Airport, Jebel Ali sea port and Dubai's central business district.
The developer of the project has already made a mark through projects such as International City -Phase 3 and Al Ittihad Village and other developments in Limitless, Downtown Jebel Ali and Dubai Waterfront.
Labels: Commercial Property, Dubai Silicon Oasis, Freehold Property
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
JMS unveils luxury hotel & commercial tower -Sharjah Jewel
Monday, May 26, 2008
JMS has announced plans to unveil a luxury hotel and commercial tower, called the 'Sharjah Jewel', worth Dh.1.5bn, at the Al Mamzar Lagoon in Sharjah.
The tower, which is ideally located at the pristine beaches of Al Mamzar Lagoon, will heighten the sense of luxury for anybody working or residing there, and afford good accessibility to Dubai and Sharjah.
The unique 'hanging' form of the Sharjah jewel will continue to rise dramatically at ground floor plus 55 floors. The top eleven floors of the Sharjah Jewel is comprise of furnished residences, connected directly to hotel, with access to office tower. The floors at the office space are likely to be the most sought-after in the UAE, due to the magnificent views of Al Mamzar Lagoon and the Sharjah skyline.
The JMS Chief Executive, Randa Kamal, said "The unique and outstanding architecture, coupled with the top quality construction and fittings, makes Sharjah Jewel the ideal landmark development in the emirate."
The work on the development is due to begin in the first quarter of 2009. The project is likely to be complete within 30 months after the commencement of construction.
Labels: Commercial Property, New Hotels, Sharjah
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
IRIS launches IRIS Crystal commercial tower at Business Bay
Saturday, May 03, 2008
IRIS, a leading property developer in the region, has officially launched the Dh.600mn IRIS Crystal, during an event held at the InterContinental Hotel on 28th April.
Located at the heart of Business Bay, the 25-storey five-star luxury business development is a freehold office tower, covering 300,000 Square Feet of floor space and 12,000 Square Feet of retail space on the ground level.
Designed by well-known international architects, Aedas, IRIS Crystal will be a commercial tower with prominent architectural features and rich interiors with finest fittings and innovative technologies incorporated. The tenants will have access to a wide range of amenities including health and fitness facilities, state-of-the-art business center, retail outlets all complemented by modern office infrastructure.
The interior will be so designed that it ensures efficient usage of space and light, accommodating six high-speed elevators, nine levels of parking with sufficient parking space for 672 cars, 24 hours secturity, high-speed internet connectivity in all units, state-of-the-art CCTV systems, Smart Card access control, apart from offering unparalleled aesthetics, which ensures high return on investments.
The starting prices of units at IRIS Crystal is nearly Dh.2,976 per Sq. Ft.
The IRIS CEO and the Managing Director of Sheth Estate, Ashwin Sheth, when speaking during the launch, mentioned that the impressive growth of Dubai economy has led to increased demand for office space at prime locations, and that IRIS is proud to introduce another iconic development in Dubai's prime business hub.
The IRIS CEO and the Managing Director of Sheth Estate, Ashwin Sheth, when speaking during the launch, mentioned that the impressive growth of Dubai economy has led to increased demand for office space at prime locations, and that IRIS is proud to introduce another iconic development in Dubai's prime business hub.
Labels: Business Bay, Business Tower, Commercial Property, Freehold Property
Arabtec wins the $112.2m Sanctuary Falls contract
Sunday, March 30, 2008
Arabtec Holding, the largest construction firm in UAE, has been awarded a $112.2million worth residential contract, the 'Sanctuary Falls', the first resort-style residential golf community in the UAE.
Launched in July 2007, the Dh.850million Sanctuary Falls aims to establish a new benchmark in community living, says the project developer, Shaikh Holdings.
The development, which has been awarded as the 'Best Golf Development' by CNBC Arabian Property Awards in 2007, has already drawn the attention of investors around the world.
Arabtec will begin construction of 96 distinctly styled resort villas of Sanctuary Falls in April 2008, which will be complete towards the first quarter of 2010.
"We consider Arabtec to be the ideal partner for this project, as they have demonstrated commitment to excellence and in-depth experience in projects such as the custom luxury villas in Emirates Hills and the world's tallest tower, Burj Dubai," said Emran Shaikh, CEO, Shaikh Holdings.
With 96 resort-style villas, overlooking the Earth golf course, Sanctuary Falls feature a selection of various architectural views and styles, with each home meticulously designed to provide unique and inspired living experience. The development provides access to two signature golf courses designed by Greg Norman, apart from offering panoramic views of cascading waterfalls, golf course or nature views. Spreading over an area of 5,600 to 10,600 square feet, it comprises five and six bedroom villas, designed with three various architectural designs - traditional, modern and contemporary. Other amenities include arrival water fountains, swimming pools, landscaped gardens and outdoor seating areas, Scavolini designer kitchen, Bang and Olufesen home theatre and a dedicated concierge.
"The Sanctuary Falls Villas will be built on par with highest construction standards, with latest building materials and efficiency systems. The project emphasizes the high demand for signature lifestyle developments in the booming GCC real estate market, and we look forward to work closely with Shaikh Holdings to create the most dynamic and vibrant communities in UAE," said Riad Kamal, CEO of Arabtec Construction.
Social BookmarkingLaunched in July 2007, the Dh.850million Sanctuary Falls aims to establish a new benchmark in community living, says the project developer, Shaikh Holdings.
The development, which has been awarded as the 'Best Golf Development' by CNBC Arabian Property Awards in 2007, has already drawn the attention of investors around the world.
Arabtec will begin construction of 96 distinctly styled resort villas of Sanctuary Falls in April 2008, which will be complete towards the first quarter of 2010.
"We consider Arabtec to be the ideal partner for this project, as they have demonstrated commitment to excellence and in-depth experience in projects such as the custom luxury villas in Emirates Hills and the world's tallest tower, Burj Dubai," said Emran Shaikh, CEO, Shaikh Holdings.
With 96 resort-style villas, overlooking the Earth golf course, Sanctuary Falls feature a selection of various architectural views and styles, with each home meticulously designed to provide unique and inspired living experience. The development provides access to two signature golf courses designed by Greg Norman, apart from offering panoramic views of cascading waterfalls, golf course or nature views. Spreading over an area of 5,600 to 10,600 square feet, it comprises five and six bedroom villas, designed with three various architectural designs - traditional, modern and contemporary. Other amenities include arrival water fountains, swimming pools, landscaped gardens and outdoor seating areas, Scavolini designer kitchen, Bang and Olufesen home theatre and a dedicated concierge.
"The Sanctuary Falls Villas will be built on par with highest construction standards, with latest building materials and efficiency systems. The project emphasizes the high demand for signature lifestyle developments in the booming GCC real estate market, and we look forward to work closely with Shaikh Holdings to create the most dynamic and vibrant communities in UAE," said Riad Kamal, CEO of Arabtec Construction.
Labels: Commercial Property, Golf property, Jumeirah Golf Estates, Villas in Jumeira
Omniyat awards The Opus contract to Multiplex
Thursday, March 27, 2008
The main construction contract of Omniyat's Dh.1.7bn 'The Opus', a commercial and retail development at Business Bay, has been awarded to Multiplex, one of the leading commercial construction contractors in the region.As per the contract, Multiplex has been given the responsibility of managing the development's construction and timely and on-budget delivery of the development.
The President and Chief Executive of Omniyat, Mehdi Amjad, said "The main factor behind awarding the contract of The Opus to Multiplex, is their excellent track record of delivering highly complex, prestigious and challenging projects. We are confident that Multiplex and Omniyat can work together to complete construction of The Opus in a timely and cost-effective manner."
The Opus, located on a unique 'Island' plot, is ideally positioned to provide tenants exclusivity, with a spectacular view of Burj Dubai and the Signature Towers, without any adjoining properties or projects.
Designed with the commercial tenant in mind, The Opus will be ready by 2010. At present more than 80 percent of the development has been sold out.
The project, designed by Zaha Hadid, the renowned architect, will enhance the Business Bay skyline with its unique, iconic, and artistic architectural structure.
Labels: Business Bay, Commercial Property, New Contracts, Omniyat
Rents for commercial properties in Dubai continue to soar
Thursday, February 28, 2008
As per reports, Dubai continued to witness huge demand for office space last year, with the emirate reflecting one of the highest global rental yields for commercial premises, ranging 17 to 18 percent.
Asteco, in its quarterly market research, reported that there was a huge increase in capital values, particularly, in locations where the new buildings were nearing completion.
The rents for office space grew by five percent on an average in comparison to the last quarter. The highest rent rates were noticed in Oud Metha and Sheikh Zayed Road, with 6 and 12 percent respectively, as per the fourth quarter report of Asteco.
When compared to the rates during the corresponding period in 2006, the office rents in Dubai last year saw a considerable increase of 44 percent, and the occupancy rates continued to touch 97 to 99 percent, the report revealed.
The Director at the Research Valuation and Consultancy at Asteco, John Allen, says "The increase in prices indicate the fact that the commercial sector of Dubai does not have a liquid secondary market at present. The limited delivery of new office premises over the last couple of years has brought about an undersupply in the market, resulting in strong surge in office rents and sales prices."
Asteco anticipates that the commercial units would witness another surge in prices, as the buildings near completion next year. However, according to Asteco, a shortfall in supply of of nearly 18million square feet of office space would be experienced next year due to delay in construction.
"We expect that landlords would get more competitive with increase in supply. More high quality finishes that are being offered, will be tailor-made to suit the requirement of tenants, and most important, the rents will stabilize reflecting true market values," Allen said.
A new factor that will have a major impact in the commercial property market during this year, will be, the implementation of the new 'green rules', which would become effective this year.
Social BookmarkingAsteco, in its quarterly market research, reported that there was a huge increase in capital values, particularly, in locations where the new buildings were nearing completion.
The rents for office space grew by five percent on an average in comparison to the last quarter. The highest rent rates were noticed in Oud Metha and Sheikh Zayed Road, with 6 and 12 percent respectively, as per the fourth quarter report of Asteco.
When compared to the rates during the corresponding period in 2006, the office rents in Dubai last year saw a considerable increase of 44 percent, and the occupancy rates continued to touch 97 to 99 percent, the report revealed.
The Director at the Research Valuation and Consultancy at Asteco, John Allen, says "The increase in prices indicate the fact that the commercial sector of Dubai does not have a liquid secondary market at present. The limited delivery of new office premises over the last couple of years has brought about an undersupply in the market, resulting in strong surge in office rents and sales prices."
Asteco anticipates that the commercial units would witness another surge in prices, as the buildings near completion next year. However, according to Asteco, a shortfall in supply of of nearly 18million square feet of office space would be experienced next year due to delay in construction.
"We expect that landlords would get more competitive with increase in supply. More high quality finishes that are being offered, will be tailor-made to suit the requirement of tenants, and most important, the rents will stabilize reflecting true market values," Allen said.
A new factor that will have a major impact in the commercial property market during this year, will be, the implementation of the new 'green rules', which would become effective this year.
Labels: Commercial Property, Latest News, Rentals
Boris Becker Tower unveiled in Dubai
Tuesday, February 26, 2008
A leading German real estate developer and affiliate of Alternative Capital Investments, ACI real estate, has announced completion of its Dh.2.2 billion worth 'Triology Project', through the launch of 'Boris Becker Business Tower'.
The Boris Becker Business Tower includes three commercial towers with each being 19 storey high, covering an area of 250,000 square feet in area and a gross commercial space of 452,000 square feet.
Speaking during the occasion of the launch, the tennis legend, Boris Becker, stated that the Dubai city, with its state-of-the-art-infrastructure matches the offerings of this tower, and the regional investment climate is founded on valid economic fundamentals.
He continued, "I have been fortunate enough to have a career, but, just as in any athlete's life, the end is inevitable. So now, I can plan my second career, and travel to most exciting destinations like Dubai."
The ACI Managing Director, Robin Lohmann revealed that ACI plans to expand its portfolio with new projects expected at Ajman and Abu Dhabi.
"We have long term commitments in the UAE market, which is reflected in our recent project launches and branch expansion to Abu Dhabi. The initial five projects on Reem Island in Abu Dhabi are due for launch shortly, and another ACI office will be open in Doha, towards the second half of this year. These developments provide investors with the opportunity to participate in a city, known and respected throughout the world."
The ACI real estate project, The Sports Legends Triology, is backed by Nikki Lauda, Michael Schumacher and Boris Becker who have lent their names to the project.
The tower is worth around Dh.500 million, with all the units already sold out. The project is due for completion by 2009 or 2010, in Business Bay.
Social BookmarkingThe Boris Becker Business Tower includes three commercial towers with each being 19 storey high, covering an area of 250,000 square feet in area and a gross commercial space of 452,000 square feet.
Speaking during the occasion of the launch, the tennis legend, Boris Becker, stated that the Dubai city, with its state-of-the-art-infrastructure matches the offerings of this tower, and the regional investment climate is founded on valid economic fundamentals.
He continued, "I have been fortunate enough to have a career, but, just as in any athlete's life, the end is inevitable. So now, I can plan my second career, and travel to most exciting destinations like Dubai."
The ACI Managing Director, Robin Lohmann revealed that ACI plans to expand its portfolio with new projects expected at Ajman and Abu Dhabi.
"We have long term commitments in the UAE market, which is reflected in our recent project launches and branch expansion to Abu Dhabi. The initial five projects on Reem Island in Abu Dhabi are due for launch shortly, and another ACI office will be open in Doha, towards the second half of this year. These developments provide investors with the opportunity to participate in a city, known and respected throughout the world."
The ACI real estate project, The Sports Legends Triology, is backed by Nikki Lauda, Michael Schumacher and Boris Becker who have lent their names to the project.
The tower is worth around Dh.500 million, with all the units already sold out. The project is due for completion by 2009 or 2010, in Business Bay.
Labels: Business Bay, Business Tower, Commercial Property
Goldcrest Business Vista project worth Dh.360mn launched in Ajman
Tuesday, January 08, 2008
The joint-venture by Mazyood Giga International and ETA Star, Star Giga, yesterday unveiled the 'Goldcrest Business Vistas', a Dh.360 million project in Ajman. Falling into the category of world-class real estate projects, the Goldcrest Business Vistas provides the best most commercial environment to companies at the regional and international levels, investors and other multinational business establishments.The project is being built in the Emirates City, the new mixed-use development on the Emirates Road in Ajman, and is just 20 minutes away from Dubai and Sharjah International Airport.
The 29 storey commercial tower will include five offices of various sizes, ranging from 845 square feet to 1544 square feet in area, which the investors could choose from. The offices are designed in an open plan, offering space for more interaction and team work. The upscale tower, at its podium level, offers a multi cuisine restaurant, and features a rooftop gymnasium, and pool, for the fitness conscious corporate world.
The Star Giga Executive Director, Amir Pardesi, said Emirates City on Emirates Road in Ajman, being one of the most coveted new developments in UAE, is the most ideal environment to launch a business. The Goldcrest Business Vistas is an ambitious project, with a potential to attract large numbers of business firms, seeking to operate in a modern business environment.
Labels: Ajman, Commercial Property, Goldcrest, Office Space
Indigo properties begins construction of Indigo Optima 1 and 2 at Dubai Industrial City
Saturday, November 24, 2007
One of the fastest growing real estate development companies, Indigo Properties, has announced the construction of two developments, Indigo Optima 1 and 2, at the Dubai Industrial City.
Both the mid-rise developments will offer business space within the International City Phase 1.
The Director of Indigo Properties, Ramesh Sawlani, expressing his pleasure over the commencement of construction work, said that Indigo Optima will bring about a new dimension to the already diverse portfolio of the company. He pointed out that Indigo Properties has been providing exciting and relevant projects for Dubai.
Indigo Optima 1 and 2 will feature 'mix and match' commercial and retail space, designed to provide the exact flexibility that the Dubai businesses are currently looking for.
The project is expected to be complete by July 2009.
Social BookmarkingBoth the mid-rise developments will offer business space within the International City Phase 1.The Director of Indigo Properties, Ramesh Sawlani, expressing his pleasure over the commencement of construction work, said that Indigo Optima will bring about a new dimension to the already diverse portfolio of the company. He pointed out that Indigo Properties has been providing exciting and relevant projects for Dubai.
Indigo Optima 1 and 2 will feature 'mix and match' commercial and retail space, designed to provide the exact flexibility that the Dubai businesses are currently looking for.
The project is expected to be complete by July 2009.
Labels: Business Tower, Commercial Property, Dubai Industrial City, New Developments
Emaar Malls Group completes Gold and Diamond Park expansion
Tuesday, November 20, 2007
The Emaar Malls Group, a subsidiary of Emaar Properties PJSC, has completed the second and third phase of Gold and Diamond Park expansion, with the number of gold and jewellery retailers, being tripled, with new office blocks being established to house 118 manufacturing units and 350 commercial units.
Most of these are located between the residential and commercial developments near Sheikh Zayed Road and Interchange 4 in Dubai.
The Gold and Diamond Park, launched in May 2001, offers various commercial and retail business opportunities. It also comprises a restaurant, several cafes, and an underground parking with a capacity to park more than 750 cars. Apart from jewelery and gold trade, businesses from all sectors have opened offices within this commercial hub.
The General Manager of Gold & Diamond Park, Taher Badri, said that the Gold & Diamond Park has expanded significantly in size, and this will further enhance its reputation as a much sought-after location for a variety of businesses. The range and diversity of the business offerings in Gold and Diamond Park, makes it a leading destination and a centralized place, to conduct business of diamond and gold jewellery.
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Most of these are located between the residential and commercial developments near Sheikh Zayed Road and Interchange 4 in Dubai.The Gold and Diamond Park, launched in May 2001, offers various commercial and retail business opportunities. It also comprises a restaurant, several cafes, and an underground parking with a capacity to park more than 750 cars. Apart from jewelery and gold trade, businesses from all sectors have opened offices within this commercial hub.
The General Manager of Gold & Diamond Park, Taher Badri, said that the Gold & Diamond Park has expanded significantly in size, and this will further enhance its reputation as a much sought-after location for a variety of businesses. The range and diversity of the business offerings in Gold and Diamond Park, makes it a leading destination and a centralized place, to conduct business of diamond and gold jewellery.
Labels: Commercial Property, Dubai City, Emmar
Deyaar Park first phase sold out on the day of its launch
Thursday, November 01, 2007
The first phase of Deyaar Development, the Deyaar Park, was sold during the first day of launch, generating sales of more than Dh.1.3billion, reveal company officials.
The first phase of the Dh.3billion project includes eight towers for commercial and residential purposes, built within an area of two million square feet. The project is also the single largest mixed use development by the company till date, comprising offices, homes and retail stores.
Deyaar Park is situated in the Green Trellis District of Downtown Jebel Ali, amidst lush green landscape, urban plazas and the shaded avenues. The park offers customers a choice of single, double and triple bedroom apartments apart from state-of-the-art office spaces which range from 691 sq ft to 2356 sq.ft. The residents of the park will have access to a range of amenities including a swimming pool, a landscaped courtyard, multi-purpose hall, well-equipped spa, high-speed internet connectivity, ample parking space, and 24 hours security, among many other amenities.
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The first phase of the Dh.3billion project includes eight towers for commercial and residential purposes, built within an area of two million square feet. The project is also the single largest mixed use development by the company till date, comprising offices, homes and retail stores.Deyaar Park is situated in the Green Trellis District of Downtown Jebel Ali, amidst lush green landscape, urban plazas and the shaded avenues. The park offers customers a choice of single, double and triple bedroom apartments apart from state-of-the-art office spaces which range from 691 sq ft to 2356 sq.ft. The residents of the park will have access to a range of amenities including a swimming pool, a landscaped courtyard, multi-purpose hall, well-equipped spa, high-speed internet connectivity, ample parking space, and 24 hours security, among many other amenities.
Labels: Business Tower, Commercial Property, Deyaar, Jebel-Ali
Omniyat Properties commences ground-breaking work on 'The Opus' project
Thursday, October 25, 2007
Omniyat Properties, the developer of exclusive real estate projects in Dubai, has begun the ground-breaking work on their commercial development, 'The Opus' situated in the heart of Business Bay. More than 60% of the project has already been sold out.
Designed by the Pritzker Prize winning architect, Zaha Hadid, 'The Opus' is worth more than Dh.1.7billion, and has been set to adorn the Dubai skyline with artistic and iconic architecture. The project, spreading over 85,000 square meters, was unveiled by the CEO of Dubai Properties, Mohammed Binbrek.
Being a perfect blend of art and technology, 'The Opus' forms a structure resembling cube with a fluid for "void" in the middle. The Opus will comprise of three individual towers, that are fused together to create the illusion of a single structure.
Located on an island plot in Business Bay, Dubai, The Opus, depicts a waterfront location, offering the most exclusive office real estate in Dubai, The eye-catching views of Burj Dubai, will further enhance the value of the development.
'The Opus' is expected to be completed during early 2010.
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Designed by the Pritzker Prize winning architect, Zaha Hadid, 'The Opus' is worth more than Dh.1.7billion, and has been set to adorn the Dubai skyline with artistic and iconic architecture. The project, spreading over 85,000 square meters, was unveiled by the CEO of Dubai Properties, Mohammed Binbrek.Being a perfect blend of art and technology, 'The Opus' forms a structure resembling cube with a fluid for "void" in the middle. The Opus will comprise of three individual towers, that are fused together to create the illusion of a single structure.
Located on an island plot in Business Bay, Dubai, The Opus, depicts a waterfront location, offering the most exclusive office real estate in Dubai, The eye-catching views of Burj Dubai, will further enhance the value of the development.
'The Opus' is expected to be completed during early 2010.
Labels: Business Bay, Commercial Property, Construction Projects, Office Space, Omniyat
Retail space in Dubai to exceed four million square meters by 2010
Thursday, October 18, 2007
The shopping malls in Dubai, particularly the old and small ones, will soon begin to experience the pressure of decline in rents, as the city is all set to create an additional two million square meters of leasable area within a three year period, a real estate consultancy has revealed.
In that case, the supply of retail space for shopping malls in Dubai will exceed four million square meters by 2010, as against the current 1.8million square meters. Colliers International, in its report, mentioned that this huge supply of retail space will bring-forth short-term oversupply in the market. The smaller and older malls will then see sharp increase in vacancies, coupled with fall in rentals.
With an aim to be a top tourist and shopping destination, Dubai is building large shopping centers. UAE ranks next to Hong Kong in recreational shopping. The report states "These mega malls will strongly root the Dubai dominance in the retail industry across the region."
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In that case, the supply of retail space for shopping malls in Dubai will exceed four million square meters by 2010, as against the current 1.8million square meters. Colliers International, in its report, mentioned that this huge supply of retail space will bring-forth short-term oversupply in the market. The smaller and older malls will then see sharp increase in vacancies, coupled with fall in rentals.With an aim to be a top tourist and shopping destination, Dubai is building large shopping centers. UAE ranks next to Hong Kong in recreational shopping. The report states "These mega malls will strongly root the Dubai dominance in the retail industry across the region."
Labels: Commercial Property, Real Estate News, Shopping Mall
