Dubai Real Estate News
UAE Property Market Trends and Reviews

Since the recent dramatic events in the financial world around the globe, the organisers of this weeks' Worldwide Property Show being held in Dubai have just announced the results of a recent survey on investor confidence conducted in association with YouGovSiraj.

The survey shows an optimistic view, with one fourth of respondents feeling that the global crisis will only have a minor impact on the local UAE Property Market. 56% surveyed felt that there may be a slowdown but will not have the same impact as in Europe and US.

The survey further revealed that Dubai residents are more confident than those living in Abu Dhabi and Sharjah however 40% of all respondents felt that now is still a good time to invest as they can pick up a bargain. 16% of respondents were not sure and were sitting on the fence.

When deciding on the developer -value for money, ability to adhere to promises and transparency of information are the attributes that people look at. The least important attribute is public information available either on a website or in the media. This indicates that consumers are anxious about cost of ownership and the inherent investment value of the property.

Respondents were also asked what were their top destinations for real estate investment around the world - 55% favoured Asia, 40% for Middle East, 32% for Europe & UK and 27% for North America.

George Betz ,International Sales Director at Dubai Shows Limited organisers of the Worldwide Property Show said: "Considering our survey has literally been completed in the last few days since the global meltdown, it is very encouraging to see that people still understand the merit in investing in real estate and that now is still a good time to buy as prices are low."

Betz continued: "The Worldwide Property Show which started in 1995 has received a record number of developers and estate agents wishing to participate in this season's show and will feature 85 exhibitors from 32 countries including USA, Egypt, Morocco and UK, as well as emerging Asian markets such as Philippines and Thailand and a very wide variety of UAE developers and agents."

Mike Bridge, Business Development Director at Dubai Shows Limited said: "With developers feeling the pinch, it is definitely a buyers market with great opportunities to select prime property in some of the best locations in the world. You cannot take away the benefits, even in a crisis, of a fabulous city or beautiful coastline."

Bridge added: "It is also good news that the banks have recently received Governments' support and are more likely to be in a position to fund property investment again".

The Worldwide Property Show and UAE Developer, the UAE's longest running consumer property exhibition opens 23rd to 25th October 2008 at the Grand Hyatt Dubai.

Labels: Dubai Real Estate, Latest News, Property-show

Property developers in the Gulf continued to remain confident amidst fears that the global economic turmoil could hit the real estate sector in all places, including the UAE. The visitors thronging the halls of Cityscape 2008 were greeted with tower upon tower.

Projects worth about Dh.500bn were announced at the Cityscape exhibition held inDubai this week, although it is believed that more prominence has been laid on
high-end properties, neglecting the needs of the majority mid-income group.

With the announcement of new projects in Dubai, the total value of the projects developed in the city would touch Dh.1.3trillion, to be developed within next 10 years.

In the opinion of few experts, the global crisis may prompt more Arab money which has been invested in the US and Europe, to flow back into the region.

Dar Al Arkan's project was displayed on the 3rd day of Cityscape 2008. One of the most ambitious integrated luxury-mega resorts, the 'Boris Becker Beach Resort & Tennis Academy', was unveiled by the Tennis legend himself.

Vertical structures made a major presence at the Cityscape skyline along with record breaking project by Nakheel, and the Michael Schumacher World Champion Tower, the world's first wharf tower, in Abu Dhabi.

Leading developer ETA showcased few of its new projects on the third day of Cityscape exhibition. The Meydan project, with its world-class horse racing and leisure amenities at the Nad Al Sheba area was eye-catching for the visitors.

Aquintania, the property by Select Group on 'The World', was launched by Dutchess of York - Sarah Ferguson, in place of the earlier planned Oscar-winner Hilary Swank.

Dubai Municipality was honoured during the Cityscape Dubai 2008 awards, for carrying out outstanding renovation work on mosques of historic Shingadha, and for its renovation on Dubai’s Old Souq and the historic Bastakia and Deira.

Tamweel PJSC, the largest real estate finance provider in the UAE has met with considerably enthusiastic response for its finance offers at Cityscape Dubai 2008, with more than 470 property registrations completed right on the first day of the event, indicating the eagerness of the market for well-priced properties.

Tamweel had offered upto 90 percent finance for visitors who register for pre-approval facility at the company's exhibition stand, with no arrangement fee upon registration on few select Tamweel properties. The visitors responded strongly to this offer of Tamweel, despite the challenging conditions in the global market.

Several visitors have been flocking the halls of Dubai Convention Center, as the world's largest real estate development exhibition continues in full swing, planned to end today.

Labels: Cityscape, Property-show

The world's largest business-to-business real estate development and investment event, the Cityscape Dubai, has finally opened today, with the confidence of success, despite the global economic gloom and negative forecasts being predicted for the Dubai property market.

The Managing Director of Cityscape, Rohan Marwaha, said "With the world facing market uncertainty, we enter a new era in which the Middle East developers are expected to maintain or even increase their presence across the world."

The intensity and scale of the iconic projects, is one of the most impressive property booms in modern history that has kept the UAE and Dubai in particular, on focus worldwide for most of the decade.

However, a report by the property consultants Colliers International stated that Dubai prices would drop by 16 percent during second quarter of 2008, and will remain flat until 2010, which came as bad news just prior to opening of the seventh Cityscape Dubai.

The report suggests that the Dubai market is due for a 10 to 20 percent correction, with the supply outstripping demand.

In the meanwhile, on the stock market front, the shares in Dubai's biggest publicly quoted developer, Emaar, dropped by another 12 percent.

However, irrespective of all this, Cityscape Dubai is confident about the turnout, and hopes to see about 1000 or more exhibitors over 75,000 square meters. According to the organizers of the show, this four-day event taking place at the Dubai International Convention and Exhibition Centre currently, will attract record numbers.

As a pre-exhibition booster, the leading Dubai-based developer Nakheel, on Sunday, announced plans to build a tower that is more than a kilometre in height, as a part of $38bn project, thereby keeping up the reputation of the emirate as the one with sky-high ambitions.

Labels: Cityscape, Latest News, Property-show

UAE's Shariah-compliant property developer, Mada’in Properties has announced that will hold an exclusive preview of prime properties located in three major districts in Dubai at the forthcoming Cityscape Dubai. The event will be held at Dubai International Exhibition Center between the 6th and 9th October 2008.

The three prime properties -Bay Terrace in Business Bay area, The H Tower in Al Meydan City and The Rubix in Dubai World Central will be the main focus of the presentation by Mada'in Properties at the double-deck exhibition area at Zabeel Hall.

The Bay Terrace is the third project to be launched by Mada’in Properties following Marina Arcade and The Domain, which depicts elegance and excellence reflected in its lavishly done apartment units, duplexes and penthouses, all incorporated within the 21 storey, completely equipped tower facility.

Spreading across a total built-up area of 168,445 square feet, Bay Terrace offers a range of single, double and triple bedroom apartments, and duplex-type accommodations, and penthouses at the top storeys., apart from amenities such as a roof garden, indoor and outdoor swimming pools, fitness centers for men and women, and ample parking spaces.

The H Tower and Rubix signify a new series of lifestyle projects that emphasize the distinct signature touch in design concept and include fine detail.

The Rubix project is a residential development comprising three buildings and unique Grand Plaza at the ground floor. Spreading across an area of 370,000 square feet, the project offers studios, single and double bedroom apartments, along with amenities such as swimming pools, fitness centers, parking spaces at the basement and several other necessary amenities.

The H Tower covers a total built-up area of 452,064 square feet and is a mixed-use development of 10 storey office tower and 23 storey residential tower comprising single, double and triple bedroom apartments, duplexes and penthouses on the top floors. The tower also includes a retail area on the ground level, apart from a range of leisure and fitness amenities for men and women, and ample parking space distributed at various levels.

"Amidst the ongoing rush of properties sweeping through the UAE market, Mada'in Properties has remained committed to its strategy to develop distinct and unique properties that offer true investment value to its investors and deliver key lifestyle benefits to end-users," said Abdul Aziz Al Awar, CEO, Mada'in Properties.

"We are thus pleased to display the major features of all our major projects -Bay Terrace, H tower and the Rubix that form vital additions to our high-profile portfolio, and form the leading properties in the most exclusive districts in Dubai," he added.

Labels: Cityscape, Property-show

The Cityscape Dubai 2008, due to take place between the 6th and 9th of October will display the potency of the UAE real estate market and its immunity towards global property recession during the coming month.

Cityscape Dubai is likely to break new records this year with more than 60,000 participants from about 150 countries attending to conferences and exhibitions, due to be held at the Dubai International Exhibition Center.

The event will begin with the Real Estate Leadership Strategy Summit, gathering the efficient real estate investors from around the world to address trends, strategies, opportunities in the global market place.

The International Real Estate Investment and Development Conference, Cityscape Dubai's main conference, will feature world-class speakers for three days of analysis of the macro-economics of realty development and financing options.

For dubai property visit ameinfo.com

Labels: Cityscape, Property-show

Dubai is all set to host, what is termed as, the 'biggest-ever', Cityscape property exhibition, during later half of this year, with about 60,000 industry professionals and 1000 exhibitors.
The business-to-business real estate investment and development exhibition will feature industry pioneers and include five conferences.

The prestigious architectural awards will be one of the major attractions in the event, which has been extended for four days fro 6th to 9th October, in a space of 75,000 square meters, close to Dubai International Exhibition Center's capacity.

The event has grown during the past two years by 25 percent and 27 percent respectively, with this year being the biggest in terms of exhibition space and also in terms of participants.

The exhibition features 849 exhibitors, 51,855 industry professionals, all taking part from 136 countries. Besides the Cityscape Dubai Conference, the event will include Real Estate Leadership Strategy Facilities and Asset Management, World Architectural Conferences, Hotel and Tourism Investment and Development.

Regional pioneers such as Aldar Properties, Nakheel, Qatari Diar, Saraya Holdings, Tanmiyat Group, Abyaar Real Estate Development, Tameer, Al Qudra Real Estate, Aqaba Development Corportation, and Mag property Development have all signed up as sponsors of the event.

The Architectural Awards will be based on the theme 'Design for an Emerging World', and excellence will be rewarded in the field in emerging regions of the Middle East, Gulf, Africa, Asia and subcontinent and Australasia (except New Zealand, Australia and Japan) and Latin America.

Labels: Cityscape, Dubai Real Estate, Property-show

With recent local property shows attracting record crowds, the UAE is becoming the place to be for foreign developers to sell their projects.

Cityscape Abu Dhabi which closed last week is just one example of why the world's battered real estate industry is putting the Gulf States and in particular the United Arab Emirates high on their sales and marketing agendas.

With the subprime crisis taking its toll across the States, and the knock on effect also hitting Europe, builders and agents are desperately looking for new territories to shift their residential and commercial property stock.

Dubai based organiser Mike Bridge from Dubai Shows Ltd said, "In the past 15 years, since we have been running our Worldwide Property Shows, we have never had some many agents and developers from such a wide area abroad requesting to participate. This week's show has in fact broken all records for us, with over 85 exhibitors representing 34 countries taking part, many travelling across the globe to market their projects to buyers here in Dubai."

With home owners across the States would be lucky if even one buyer walks up their garden path just to view, exhibitors in Abu Dhabi last week were actually having to employ security guards just to hold back eager buyers and investors all pushing to grab a piece of the latest tower block in the capital. Even the UAE government asked the organisers to extend the show by a day, to allow buyers the time to put down their deposits!

Bridge added, "This weeks Worldwide Property Show has a large number of US exhibitors taking part. One agent from Orlando told us that where in the past buyers were paying top dollar for his villas, developers are now offering the same homes at knock down prices and will include all the furnishings plus the pool as well. He added that due to the weak dollar this region has actually seen an increase in rental income as Europeans in particular flock to the theme parks. Mickey he told us is it seems...subprime proof!"

"Many UAE based residents who have made a reasonable returns on their property portfolios here, are prepared to spread their buying power, and are now able to pick up some exceptional deals overseas, while remaining active in the local market as well," said Bridge.

The Worldwide Property Shows are being held on May 22nd-24th at the Grand Hyatt Dubai and on May 28th-31st at the Bahrain International Exhibition Centre.

For further inforamtion contact: Dubai Shows Ltd, Tel +9714 321 6166, Mobile +97150 6535623, Email: Pooja@dubaishows.com

Labels: Property-show, UAE

Labels: Cityscape, Property-show

The organizers of Retail City 2008 in Dubai, have urged property developers in Middle East to adhere to the emerging global trend of building 'green' malls, which is something that cannot be ignored.

The fast-paced Arabian Gulf economies have been developing ambitious retail infrastructure projects. The 'Retail City 2008' expected to take place between 1st and 3rd June 2008 at the Dubai International Exhibition Center, will witness a gathering of investors, global retailers, shopping center developers, shopping center management, franchise networks, architects and regional authorities all under a single roof, to focus on all aspects of retail development cycle.

The Project Manager of Retail City 2008, Naomi Koningen, has said that the Middle East retail sector currently exceeds $100bn in value annually, and is second to the residential property sector in the non-oil economy. Hence, it is vital that this huge economic sector takes into account the impact that it bears on the environment and the need for sustainability in design and construction of malls and stores.

Labels: Environment-friendly, Middle-East, Property-show

Registrations have commenced for the Phase II of the freehold land sales at Dubai World Central, the urban land project in Jebel Ali. The registrations are open at the International Property Show (IPS) 2008 being held in the Dubai International Exhibition Center, between the 17th and 19th February 2008.

Actual land sales for the plots with sizes ranging from 5000 to 12000 Sq. Mts., will however, commence only next month.

With over 184 hectares of land, being available in Phase 2, the Residential City of the DWC, the largest phase of the city, is expected to house around 53,000 people. The Phase 2 will have about 19 plots, meant for mixed-use, while 9 plots will be reserved for public and commercial purposes, such as malls, schools, hotels, mosques, health centers, fuel stations and parks.

The Dubai World Central, CEO, Khalid bin Harib, said "With the first phase of the project completely sold out last year, yielding sales worth Dh.2.5bn, the second phase has now produced about 700 potential customers. We expect the same response during the registration at the IPS Dubai event. "

Labels: land, Property-show, Sales

Dubai's International Property Show (IPS) 2008 kicked off yesterday, at the Dubai International Exhibition Center, and real estate developers in Dubai expecting multi-billion dollar investments.

Shaikh Hasher Maktoum, the Dubai Director of Information, who inaugurated the event, said "The regional property sector and the IPS have grown by 50 percent this year, which indicates the excellent potential of real estate market in the region. With the event continuing to reflect the real landscape of this industry with huge potential, the show has seen the presence of huge and diverse projects from all over the world, for years."

This year, the event expects to draw in atleast 27,000 visitors and exhibitors from about 200 real estate firms all over the globe.

IPS 2008 is expected to be the biggest in the region, probably due to high boost in investor confidence in the property market, due to the establishment of RERA (Real Estate Regulatory Authority). Few countries like Russia, Panama, Ireland, Iran and Saudi Arabia, will be participating in the event, this year, for the first time.

Hussain Sajwani, the Chairman of Damac Holding, the region's leading private sector real estate developer, said "This is another opportunity for us to display our world-class luxury projects and concepts. This is an opportunity for investors to learn in detail about our projects. This will be the right opportunity for the investors to learn more about the most luxurious real estate projects, such as Marina Bay in Abu Dhabi, Ocean Heights in Dubai, Al Jawharah in Jeddah, Business Heights in Amman or the Hyde Park in Cairo, among other luxurious projects of DAMAC."

The show is expected to conclude on 19th February 2008.

Labels: Dubai Real Estate, Latest News, Property-show

Union Properties, the UAE-based developer has announced its participation in the International Property Show (IPS) to be held between from 17th to 19th February 2008 at the Dubai International Exhibition Center in Dubai.

This exhibition, is the biggest transactional property exhibition in the region, and an annual transactional and networking event, in which high net-worth individuals, residential and commercial investors, and specialized visitors from realty sector would gather together in a single platform.

The UAE-based realty developer, Union Properties, have announced their participation in the IPS 2008, during which they would showcase three new projects, namely, the MotorCity, Index and the Limestone House, projecting a combined value of Dh.13billion. All three new projects are mixed-used commercial, residential and corporate property development, designed with specific themes.

MotorCity, covering 38 million square feet, is an automobile and motor sport development, considered as "city within a city" and consist of five components including the Business Park MotorCity, Dubai Autodrome, Green Community MotorCity, F1 Theme Park, and UPTOWN MotorCity.

Index, is an 80-storey building, with state-of-the-art offices and multinational corporations, and luxury apartments, designed by a reputed award-winning architectural firm in UK.

Limestone House, situated in DIFC (Dubai International Financial Center) is an exclusive residence, which represents the traditional elegance and magnificent aura of exotic Mediterranean and ancient Arabian cultures and styles, hosting a range of facilities that ensures top privacy.

Labels: Latest News, Property-show, Union-Properties

The largest real estate exhibition in the region, Cityscape Dubai 2007, concluded on 18th, with projects worth Dh.70billion being announced, according to information from sources.

This is inclusive of the Dh.40billion Mudon project by Dubai Properties, Remraam project worth Dh.15billion by Mizin, an arm of Tatweer. Apart from this, there were numerous small announcements being made during the three-day event, making it a grand success.

Towards mid-day of last day, the number of visitors crossed 34,000. On an average a minimum of 50,000 visitors, exhibitors and participants thronged the show.

The Middle Eastern developers, who look to expand and diversify their interests beyond the region, could use a new report commissioned by Cityscape Market Intelligence Service (CMIS) launched at Cityscape Dubai.

Labels: Cityscape, Dubai Real Estate, Property-show

Leading real estate developer, Dubai Properties, has announced their plans to unveil two new real estate projects in Dubailand and Business Bay, costing Dh.40 billion, during the Cityscape Dubai 2007, the largest mega-event pertaining to business and property in the region.

Dubai Properties will showcase its signature developments, including the Executive Towers, Business Bay Vision Tower, The Villa and the freehold residential community in Mediterranean Style, and the Al Waha Villas in Dubailand.

The CEO of Dubai Properties, Mohamed Binbrek, said "Cityscape is a valuable platform for the real estate sector. The participation will help us network with international investors and serious buyers. The event will also be an ideal opportunity for visitors to gain information on the recent sales offerings in our flagship products."

This is the sixth year of the Cityscape show, and this year, about 45,000 or more international and regional investors, governmental and development authorities, real estate developers, consultants, designers, leading architects and senior industry professionals are expected from more than 120 countries.

The Dubai Properties is participating in the show for the fourth consecutive year, this year. The Cityscape Dubai 2007 has been scheduled from 16th October to 18th October 2007 at the Dubai International Convention and Exhibition Center.

Labels: Cityscape, New Developments, Property-show, Real Estate Company, Real Estate Projects

ETA Star, the major property developer in UAE, is expected to display its first master development project, La Italia, worth Dh.2.5billion, at the Cityscape 2007 show. The Cityscape show will be held between the 16th and 18th of October, at the Dubai International Exhibition Center.



La Italia is an authentic Italian themed residential community expected to be launched at the FalconCity of Wonders, Dubailand. According to sources, La Italia will comprise of low-rise, traffic-free residences in the Rome, London and Venice clusters.

Apart from La Italia master development, ETA Star will showcase its other recent projects, such as Center Court located at Jumeirah Village South, and a mixed-use development projects currently in its initial stages in Oman and Muscat. Center Court is a mixed-use project with retail and residential units that form a private community, which will render an unmatched quality of life with a serene atmosphere for family living.

On the whole, projects worth Dh.5 billion will be displayed at the ETA Cityscape stall.

The Executive Director of ETA Star, Abid Junaid, said "We aim to showcase the flagship project of ETA at this prestigious event. We believe that there would be not better platform to showcase our first ever master development project, than Cityscape, The event has been an excellent marketing platform for developers like us, as it allows us to interact with international and regional investors and developers."

Cityscape is an ideal platform for local property developers to showcase their projects, acting as window to potential investors from around the world, to catch a glimpse of the booming property market. The mega-event offers a view of future landscape in Dubai.

Currently, ETA Star is developing several millions of Square Feet of property across several countries in Middle East, UAE, India, Qatar, Turkey and South-East Asia.

Labels: Cityscape, ETA-Star, New Developments, Property-show, Real Estate Projects

Omniyat Properties on Monday announced three real estate projects in Dubai, worth Dh.6 billion, as it tries to build its place as one of the leading developers in the emirate.

The first among three projects is an office complex, worth Dh.1.5billion in Business Bay. The other two are mixed-use developments which would comprise residential units, shopping malls and hotels, with one on Dubai Waterfront worth Dh.2 billion, adjacent to the Palm Jebel Ali, and the other, worth Dh.2.5 billion, in The Lagoons, overlooking the Wildlife Sanctuary.

All the three projects are scheduled for completion by mid-2008. Omniyat expects that the launches will bring in a real estate investment of nearly Dh.10 billion by 2008.

None of the three projects will, however be displayed in the Cityscape real estate expo in Dubai, as Omniyat plans to showcase 'The Opus', a Business Bay development at the expo.

Few other projects that Omniyat is currently working on, includes Bayswater, One Business Bay, The Gemini, The Binary, The Pad and The Square.

Labels: Cityscape, Omniyat, Property-show, Real Estate Company, Real Estate Projects

Emaar Properties, the leading global real estate developer, has announced its decision to display its flagship and international real estate projects at the EXPO REAL 2007 global trade exhibition. The exhibition will be held at New Munich Trade Fair Center, from 8th October to 10th October 2007.

Emaar will be making its second appearance in this international event, highlighting master projects including King Abdullah Economic City in Saudi Arabia, Downtown Burj Dubai, and various other master-planned communities in its international markets such as Morocco, Syria and Egypt.



The major attractions at the Emaar stand will include mixed-use real estate projects such as Burj Dubai, Downtown Burj Dubai community, including the world's tallest free-standing structure, Burj Dubai. Other developments that will be displayed include the Eighth Gate master planned community project in Damascus, the Marassi residential development in Egypt, the ongoing expansive developments, Amelkis II and III in Morocco, Tinja, Oukaimeden, Bahia Bay and Saphira Communities.

The Managing Director of Emaar, Issam Galadari said "As a trade fair hosting some of the high-profile developers of the world, global industry professionals and investors, EXPO REAL is the perfect venue for enhancing the awareness of projects on a global scale. It displays the ever expanding, inspirational architecture in Dubai, to a wide global audience, creating an invaluable networking platform for key investors."

Labels: Emmar, International, Property-show