Nakheel launches the tenth precinct of The Emirates
Tuesday, April 01, 2008
Nakheel has launched its final and tenth precinct at the residential district of International City, 'The Emirates'.
Construction has commenced early this year, and is likely to be complete by the third quarter of 2009.
The Emirates, based on traditional regional architecture, will feature 856 studios, 756 single bedroom residential units and 52 commercial units.
The internationally-themed communities in 'The Emirates' include England, France, China, Italy, Greece, Russia, Persia and Morocco.
The International City, which has been designed as an integrated multi-purpose development to meet the demand for affordable housing in Dubai, is expected to house 70,000 people towards end of 2008.
Labels: International City, Nakheel, New Developments
Ground-breaking held for Indigo Spectrum 1 and 2
Tuesday, December 11, 2007
One of fastest growing real estate development companies, Indigo Group, has announced the ground-breaking of their project, Indigo spectrum 1 and 2 in the Central District of International City, Phase 1 in Dubai.The eight-storey Indigo Spectrum 1 and 2 comprises exquisite residences, with single, double and triple bedroom apartments, and feature a rooftop pool, ground floor retail, and fully equipped gym that represent contemporary metropolitan living.
The Director of Indigo Properties, Anand Lakhiani, expressing his delight over the construction, said that Indigo Spectrums 1 and 2 are set to deliver an exciting living experience at International City. He said that he was confident about the concept being embraced by the market, which would make way for a series of stylish, affordable living solutions.
Labels: Construction Projects, International City, Real Estate Company
Work commences on HDS Sunstar Tower
Thursday, November 01, 2007
The construction of the second tower of HDS Sunstar Towers commenced yesterday in Dubai International City soon by joint efforts of the Cinnovation and the HDS Groups.
The multi-dimensional conglomerate, the Cinnovation Group holds a global reputation in a number of other sectors too, apart from real estate, while the HDS Group have established themselves as major players in the property industry.
The HDS Sunstar Towers, worth Dh.100million, is the giant residential project and the outcome of the combined business efforts of both groups. Comprising two G+10 storey residential towers with single, double bedroom units, the development has spacious living areas that have family-oriented amenities. The development also includes landscaped areas and car parks that is a true reflection of the two renowned groups.
On completion, the project will add to the global portfolio of the Cinnovation Group and includes numerous hotel and residential projects in Singapore, Africa, India and China. Scheduled for completion during the last quarter of 2008, the units of HDS Sunstar Towers will ready for sales during mid 2008.
This project is one among the prestigious projects from Cinnovation that is expected to change the landscape of Dubai.
Social BookmarkingThe multi-dimensional conglomerate, the Cinnovation Group holds a global reputation in a number of other sectors too, apart from real estate, while the HDS Group have established themselves as major players in the property industry.
The HDS Sunstar Towers, worth Dh.100million, is the giant residential project and the outcome of the combined business efforts of both groups. Comprising two G+10 storey residential towers with single, double bedroom units, the development has spacious living areas that have family-oriented amenities. The development also includes landscaped areas and car parks that is a true reflection of the two renowned groups.On completion, the project will add to the global portfolio of the Cinnovation Group and includes numerous hotel and residential projects in Singapore, Africa, India and China. Scheduled for completion during the last quarter of 2008, the units of HDS Sunstar Towers will ready for sales during mid 2008.
This project is one among the prestigious projects from Cinnovation that is expected to change the landscape of Dubai.
Labels: Apartments, Construction Projects, International City, Residential
Sunstar Towers launched by Cinnovation, HDS Groups
Monday, September 24, 2007
Cinnovation Group and the HDS Group have together launched the HDS Sunstar Towers in the Dubai International City.
The Director of Cinnovation Group, Varun Chaudhary, and the Managing Director of HDS Group, Ali Dar, together has recently performed the ground-breaking ceremony for construction of its first tower on plot number 22 in the Central Business District.
The project is unique, in the sense, that it offers buyers the opportunity to see the projects that they plan to purchase. The sale of units will begin during mid 2008, when the project is almost complete. Even options for finance will be announced by that time.
The HDS Sunstar I and HDS Sunstar II are all ready to be completed towards end of 2008.
The two G+10-storey residential towers, worth more than Dh.200 million, comprises single, and double bedroom units offering spacious living space. Both HDS and Cinnovation have over the years, established themselves as major players in the dubai property sector.
Social BookmarkingThe Director of Cinnovation Group, Varun Chaudhary, and the Managing Director of HDS Group, Ali Dar, together has recently performed the ground-breaking ceremony for construction of its first tower on plot number 22 in the Central Business District.
The project is unique, in the sense, that it offers buyers the opportunity to see the projects that they plan to purchase. The sale of units will begin during mid 2008, when the project is almost complete. Even options for finance will be announced by that time.The HDS Sunstar I and HDS Sunstar II are all ready to be completed towards end of 2008.
Chaudhary says "You would never buy a car without seeing what it looks like. Hence while investing in a property, being able to see what you are paying for, makes all the difference. HDS Sunstar Towers is a project that sells purely on a concept and we will show potential buyers the properties they will be investing in."The location and positioning of the Sunstar Towers will decide the exclusivity and prestige of a world-class development, said Dar.
The two G+10-storey residential towers, worth more than Dh.200 million, comprises single, and double bedroom units offering spacious living space. Both HDS and Cinnovation have over the years, established themselves as major players in the dubai property sector.
Labels: International City, Investment Property, New Developments, Residential, Sales
Flats in Dubai International City delayed beyond schedule
Sunday, May 13, 2007
People who purchased flats at the Dubai International City are complaining about the delay in handing over their new homes by about a year.
While the buyers mentioned that they are already under considerable financial pressure due to this waiting, neither Tamweel, the home finance provider, nor Nakheel, the developer have actually mentioned when their apartments are likely to be ready.
A Nakheel official however mentioned that the delivery of the first phase of buildings at the Dubai International City that began during August 2006 was on schedule and is making good progress. He added that flexibility in schedule is essential during such large scale developments, as changes are sometimes incorporated to ensure high quality standards, which is done keeping in mind the interest of the owners.
An owner from Jordan, Naseer B, said that he had purchased two flats in the Moroccan section last year. At the time of purchase Tamweel officials had promised that the apartments would be ready by August 2006. In accordance with this, Naseer had written a tenancy agreement with his landlord during May 2006. However, from August’06 till this minute the handing over of the flats has been delayed, and Tamweel mentions that the delay is due to hold-up on Nakheel’s part.
Naseer adds that the status of work of the flats was more than eighty percent complete during August, and the situation is the same even now.
Another buyer mentioned that she had to take up a bank loan for paying the downpayment to Tamweel. She currently stays in a rented flat. So due to this delay she has been bearing the burden of bank loan plus the burden of rent for her current flat.
While the buyers mentioned that they are already under considerable financial pressure due to this waiting, neither Tamweel, the home finance provider, nor Nakheel, the developer have actually mentioned when their apartments are likely to be ready.
A Nakheel official however mentioned that the delivery of the first phase of buildings at the Dubai International City that began during August 2006 was on schedule and is making good progress. He added that flexibility in schedule is essential during such large scale developments, as changes are sometimes incorporated to ensure high quality standards, which is done keeping in mind the interest of the owners.
An owner from Jordan, Naseer B, said that he had purchased two flats in the Moroccan section last year. At the time of purchase Tamweel officials had promised that the apartments would be ready by August 2006. In accordance with this, Naseer had written a tenancy agreement with his landlord during May 2006. However, from August’06 till this minute the handing over of the flats has been delayed, and Tamweel mentions that the delay is due to hold-up on Nakheel’s part.
Naseer adds that the status of work of the flats was more than eighty percent complete during August, and the situation is the same even now.
Another buyer mentioned that she had to take up a bank loan for paying the downpayment to Tamweel. She currently stays in a rented flat. So due to this delay she has been bearing the burden of bank loan plus the burden of rent for her current flat.
Labels: International City, Nakheel
20,000 units in International City by this year-end
Friday, July 14, 2006
Developer Nakheel yesterday announced that roughly 20,000, or three-quarters of International City’s 27,000 units, will be handed over by the end of the year, a move that could have an impact on rents in the emirate. “Nakheel is on schedule with the construction and development of its International City project,” said International City general manager, Rashid Al Helli.
“We have already finished work on the project’s infrastructure, such as roads, internal routes, lighting installation, electricity and water.The districts are being constructed phase by phase. We expect to finalise most of the residential buildings by the end of 2006 and are starting a phased handover of completed areas.The remaining buildings will be completed by 2007. Phase One of Al Warsan Lake development has also been completed.” The news comes as Dubai residents reel from a doubledigit growth in rents, despite a 15 per cent cap that is expected to expire by the end of the year. Analysts believe that the pressure will ease once other projects such as Jumeirah Beach Residence, Nakheel’s Palm Jumeirah and Jumeirah Lake Towers and some parts of Emaar’s Burj Dubai developments come on line over the next few months.
“We are hoping a number of large key projects will go some way to satisfying the overwhelming demand for low budget properties in Dubai – at the moment there’s a dire shortage,” said Better Homes spokesman Mark Humphries.
International City combines commercial, residential, retail and tourism interests. The project has attracted strong interest from local, regional and international investors, including retail giants, multinational compa nies, real estate developers, regional and international commercial businesses, property investors and homeowners, according to the firm.
Humphries expects Dubai’s rental and development market to become more competitive, as a result of these developments.
Social Bookmarking“We have already finished work on the project’s infrastructure, such as roads, internal routes, lighting installation, electricity and water.The districts are being constructed phase by phase. We expect to finalise most of the residential buildings by the end of 2006 and are starting a phased handover of completed areas.The remaining buildings will be completed by 2007. Phase One of Al Warsan Lake development has also been completed.” The news comes as Dubai residents reel from a doubledigit growth in rents, despite a 15 per cent cap that is expected to expire by the end of the year. Analysts believe that the pressure will ease once other projects such as Jumeirah Beach Residence, Nakheel’s Palm Jumeirah and Jumeirah Lake Towers and some parts of Emaar’s Burj Dubai developments come on line over the next few months.
“We are hoping a number of large key projects will go some way to satisfying the overwhelming demand for low budget properties in Dubai – at the moment there’s a dire shortage,” said Better Homes spokesman Mark Humphries.
International City combines commercial, residential, retail and tourism interests. The project has attracted strong interest from local, regional and international investors, including retail giants, multinational compa nies, real estate developers, regional and international commercial businesses, property investors and homeowners, according to the firm.
Humphries expects Dubai’s rental and development market to become more competitive, as a result of these developments.
Labels: International City
