DEC, Robodh Contracting in Dh4.5bn property development joint venture
Sunday, July 20, 2008
Dheeraj East Coast (DEC) and Robodh Contracting have entered into a joint venture for development of a property portfolio worth Dh.4.5bn. This portfolio is likely to grow with new projects arriving at the market.
According to the MoU, Robodh Contracting LLC would remain the main contractors for the existing and future projects of DEC. Robodh would be responsible for construction of all projects in DEC, including co-ordinating with various subcontractors.
The Managing Director of DEC, Dheera Wadhwan, said that finding the appropriate main contractor is a vital decision in real estate development. Their joint venture with Robodh, apart from standardizing, also helps adhere to highest quality benchmarks, also helps in timely delivery of the projects. Also, through a long term relationship, the joint-venture is likely to reduce cost of construction, permitting better control over subcontractors.
The CEO of Robodh Contracting, P.H. Menon, said that the joint venture helps reflect the trust that developers have placed in the company, through its core competence of competitive and timely delivery with highest quality standards.
Deeraj East Coast has a total of 20 upcoming projects in Dubai, with a wide array of developments such as commercial and residential projects featuring global culture, mixed-use lifestyle, and combinations of modern and old world charm and business, projecting various stages of development.
Social BookmarkingAccording to the MoU, Robodh Contracting LLC would remain the main contractors for the existing and future projects of DEC. Robodh would be responsible for construction of all projects in DEC, including co-ordinating with various subcontractors.
The Managing Director of DEC, Dheera Wadhwan, said that finding the appropriate main contractor is a vital decision in real estate development. Their joint venture with Robodh, apart from standardizing, also helps adhere to highest quality benchmarks, also helps in timely delivery of the projects. Also, through a long term relationship, the joint-venture is likely to reduce cost of construction, permitting better control over subcontractors.
The CEO of Robodh Contracting, P.H. Menon, said that the joint venture helps reflect the trust that developers have placed in the company, through its core competence of competitive and timely delivery with highest quality standards.
Deeraj East Coast has a total of 20 upcoming projects in Dubai, with a wide array of developments such as commercial and residential projects featuring global culture, mixed-use lifestyle, and combinations of modern and old world charm and business, projecting various stages of development.
Labels: Real Estate Company, Real Estate News
Define Properties forays into Dubai's realty sector
Tuesday, June 03, 2008
The latest entrant to the competitive realty market of Dubai is Define Properties. Define Properties has entered the Dubai real estate sector by acquiring 13 plots, with their first three project being already finalized at around Dh.8billion.With a capital of Dh.500 million, Define Properties has 12 plots at the Dubai Waterfront, and one at Business Bay. The company also owns assets worth Dh.1.7billion.
According to Tarek Kandil, the President and Chief Executive Officer of the company, a Dh.600 million project at Business Bay is already under progress.
The company's Nikki Lauda Twin Towers was sold just after the launch, and enabling and foundation works have already commenced. The project is likely to be ready by third quarter of 2010.
At present Define Properties is finalizing three projects at the Waterfront, which is totally worth Dh.8billion. The launch and construction will commence in seven months time.
The Director of Sales and Marketing at Define Properties, Walid Abdul Latif, revealed that among the three projects at the Waterfront, two are mixed-used projects and one is residential.
The company plans to focus on Dubai at present, and will expand to the rest of UAE and to the wider region in future.
Labels: Dubai Real Estate, Real Estate Company
New global realty firm Property House launched in Dubai
Friday, May 30, 2008
A new $1billion global realty firm, Property House, which aims to establish itself as one of the top five realty companies in the region, was launched in Dubai last week.
With a landbank of about six million square feet in Dubai and Ajman, Property House plans to launch several new projects in UAE this year.
The Chief Executive Officer and Managing Director of Property House, Mohammad Nazir, said "Dubai is a market brimming with high yield potential. It has been said that development is the only constant thing in the real estate market, and Dubai, no doubt, is the best examples of this theory."
The General Project Manager of Property House, Amit Kochar, revealed that among the projects to be launched, the first two projects will be one residential and one commercial, out of which, one will be launched in Dubai next month.
The first residential project, will be worth Dh.250mn to Dh.500mn.
Property House has also invested heavily in the 115-acre Al Helio Downtown City of Ajman. This mini-city will be based on Chicago's and New York's grid system and aims to house 32000 residents and attracts an additional 24000 for work purposes.
Developed by South Korean developer, DSECO, the construction of the mini-city will commence this year and will be complete by 2013.
The company also announced future expansion plans to the rest of UAE.
Social BookmarkingWith a landbank of about six million square feet in Dubai and Ajman, Property House plans to launch several new projects in UAE this year.
The Chief Executive Officer and Managing Director of Property House, Mohammad Nazir, said "Dubai is a market brimming with high yield potential. It has been said that development is the only constant thing in the real estate market, and Dubai, no doubt, is the best examples of this theory."
The General Project Manager of Property House, Amit Kochar, revealed that among the projects to be launched, the first two projects will be one residential and one commercial, out of which, one will be launched in Dubai next month.
The first residential project, will be worth Dh.250mn to Dh.500mn.
Property House has also invested heavily in the 115-acre Al Helio Downtown City of Ajman. This mini-city will be based on Chicago's and New York's grid system and aims to house 32000 residents and attracts an additional 24000 for work purposes.
Developed by South Korean developer, DSECO, the construction of the mini-city will commence this year and will be complete by 2013.
The company also announced future expansion plans to the rest of UAE.
Labels: Dubai Real Estate, Real Estate Company
Maison forays into UAE realty market
Wednesday, April 23, 2008
Maison Limited, the Hong Kong developer, has put its first step forward towards entering the UAE property market, through the purchase of four plots at Downtown Jebel Ali, to develop signature boutique residence. This is also the first global commercial and residential real estate venture of the company.
Located in Phase four of Downtown Jebel Ali, adjacent to the Arabian Canal, the development covers 10,000 square meters of land space and a built-up area of 90,000 square meters. The four plots will be combined to make two large plots and the buildings will rise up to G+18 storeys.
The project will feature state-of-the-art amenities with all apartments being completely furnished and feng-shui operated. The Managing Director of Maison, Shaye'e Shamszadeh said "Progressive foreign ownership laws, a buoyant economy, and the UAE government's drive to create a forward-thinking, cosmopolitan center of finance, business and culture, will together ensure that Dubai maintains its continues success and high profile in the global market."
The construction and infrastructure development is likely to begin after handing-over of the plots in March 2009. The project is likely to see its official launch during the third quarter of this year.
Maison Limited is looking into developments in Abu Dhabi too, although Dubai will be the company's main focus.
"Dubai is a trendsetter and we believe that it is the best first step. Abu Dhabi too is in our agenda and will be an interesting stepping stone. Abu Dhabi is still lacking international exposure. But Dubai has the glamour and name," said Cor van der Meulen, the Managing Director, Maison Limited, Hong Kong.
Shamszadeh confirmed that the company will go global with Dubai as the launch-pad.
Social BookmarkingLocated in Phase four of Downtown Jebel Ali, adjacent to the Arabian Canal, the development covers 10,000 square meters of land space and a built-up area of 90,000 square meters. The four plots will be combined to make two large plots and the buildings will rise up to G+18 storeys.
The project will feature state-of-the-art amenities with all apartments being completely furnished and feng-shui operated. The Managing Director of Maison, Shaye'e Shamszadeh said "Progressive foreign ownership laws, a buoyant economy, and the UAE government's drive to create a forward-thinking, cosmopolitan center of finance, business and culture, will together ensure that Dubai maintains its continues success and high profile in the global market."
The construction and infrastructure development is likely to begin after handing-over of the plots in March 2009. The project is likely to see its official launch during the third quarter of this year.
Maison Limited is looking into developments in Abu Dhabi too, although Dubai will be the company's main focus.
"Dubai is a trendsetter and we believe that it is the best first step. Abu Dhabi too is in our agenda and will be an interesting stepping stone. Abu Dhabi is still lacking international exposure. But Dubai has the glamour and name," said Cor van der Meulen, the Managing Director, Maison Limited, Hong Kong.
Shamszadeh confirmed that the company will go global with Dubai as the launch-pad.
Labels: Jebel-Ali, Real Estate Company
IRIS set to create a milestone with Dh.5bn investment plan
Tuesday, March 18, 2008
IRIS, one among the prominent property developers in the region, has announced the launch of their commercial and residential units that spread across 1,000,000 Sq. Ft. of space, along with a diverse portfolio of projects chalked out for the current year.
For IRIS, the year 2008, will prove to be another milestone, as it will add another 270 apartments to its residential portfolio, and 300 commercial units will be added to its portfolio in Dubai Marina, Business Bay, Maritime City and Culture Village.
Speaking about the strategic growth vision of the company in the field of real estate, the CEO of IRIS who is also the Managing Director of Sheth Group, Ashwin Sheth, said "We, at IRIS, are keen to contribute to the existing and emerging investment potential around us. Our projects are so structured, that it will offer a healthy return on investment to our investors, giving us an enviable reputation in the industry."
IRIS, with its diverse portfolio of projects in the UAE, including the IRIS Bay - a unique commercial development at Business Bay, IRIS Blue - a luxury residential project at Dubai Marina, and IRIS Amber - luxury residential development at Culture Village, is continuing to add further to its impressive portfolio by unveiling plans for three new developments during the first two quarters of 2008.
The first project to be launched will be the AED100million residential project at the Culture Village, which would spread across a Gross Leasable Area (GLA) of 47,000 square feet. This will be unveiled during the upcoming SIMA 2008 Property Exhibition on 7th April 2008.
This will be followed by the launch of another luxurious development, worth AED600 million, which is a commercial project at Business Bay, spreading across 278,000 square feet of gross leasable area.
The third project to be added to the company's portfolio will be the AED 2billion residential project in Maritime City, which would spread across a gross leasable area of 800,000 square feet.
For IRIS, the year 2008, will prove to be another milestone, as it will add another 270 apartments to its residential portfolio, and 300 commercial units will be added to its portfolio in Dubai Marina, Business Bay, Maritime City and Culture Village.
Speaking about the strategic growth vision of the company in the field of real estate, the CEO of IRIS who is also the Managing Director of Sheth Group, Ashwin Sheth, said "We, at IRIS, are keen to contribute to the existing and emerging investment potential around us. Our projects are so structured, that it will offer a healthy return on investment to our investors, giving us an enviable reputation in the industry."
IRIS, with its diverse portfolio of projects in the UAE, including the IRIS Bay - a unique commercial development at Business Bay, IRIS Blue - a luxury residential project at Dubai Marina, and IRIS Amber - luxury residential development at Culture Village, is continuing to add further to its impressive portfolio by unveiling plans for three new developments during the first two quarters of 2008.
The first project to be launched will be the AED100million residential project at the Culture Village, which would spread across a Gross Leasable Area (GLA) of 47,000 square feet. This will be unveiled during the upcoming SIMA 2008 Property Exhibition on 7th April 2008.
This will be followed by the launch of another luxurious development, worth AED600 million, which is a commercial project at Business Bay, spreading across 278,000 square feet of gross leasable area.
The third project to be added to the company's portfolio will be the AED 2billion residential project in Maritime City, which would spread across a gross leasable area of 800,000 square feet.
Labels: Latest News, Real Estate Company
Rakaa forays into UAE property market with Dh.1bn project in Abu Dhabi
Saturday, February 09, 2008
The real estate branch of a Saudi Arabian conglomerate, Rakaa Properties, has announced a Dh.1billion project, at Reem Island in Abu Dhabi.
The project, comprising three towers, two of which are residential towers and one commercial, will be developed for mixed-use. The average introductory price of the units is Dh.1550 per square foot. This freehold development is expected to be delivered towards end of 2010.
The COO of Rakaa Properties, Mahmoud Naji, when speaking during the Abu Dhabi Real Estate and Investment Show (IREIS) 2008, mentioned that the proposed towers, one of which is 'Falcon Crest', will have 139 units, while the other 'Dynasty' will have 125 units. The third tower, 'Marina tulip' will house 35 storeys, out of which 27 would be residential floors, and the rest eight floors will be commercial storeys. The construction is expected to begin soon.
This project in Abu Dhabi is Rakaa's maiden venture into UAE real estate business. At present, Rakaa has announced developments in Jordan and Saudi Arabia.
Established in 1990, Rakaa is a subsidiary of Rakaa Holding, and has developed a wide range of properties, that include, malls, residential apartments, office buildings, luxury villas, and farms and ranches in Saudi Arabia.
Social BookmarkingThe project, comprising three towers, two of which are residential towers and one commercial, will be developed for mixed-use. The average introductory price of the units is Dh.1550 per square foot. This freehold development is expected to be delivered towards end of 2010.
The COO of Rakaa Properties, Mahmoud Naji, when speaking during the Abu Dhabi Real Estate and Investment Show (IREIS) 2008, mentioned that the proposed towers, one of which is 'Falcon Crest', will have 139 units, while the other 'Dynasty' will have 125 units. The third tower, 'Marina tulip' will house 35 storeys, out of which 27 would be residential floors, and the rest eight floors will be commercial storeys. The construction is expected to begin soon.
This project in Abu Dhabi is Rakaa's maiden venture into UAE real estate business. At present, Rakaa has announced developments in Jordan and Saudi Arabia.
Established in 1990, Rakaa is a subsidiary of Rakaa Holding, and has developed a wide range of properties, that include, malls, residential apartments, office buildings, luxury villas, and farms and ranches in Saudi Arabia.
Labels: Abu Dhabi, Al Reem Island, Real Estate Company, Real Estate Projects
Al Barakah forays into UAE realty sector through launch of Sanali Towers
Wednesday, January 23, 2008
Al Barakah, the real estate group, has forayed into the UAE realty sector, announcing plans to develop Dh.3bn worth commercial and residential projects in a span of three years.
First of such an initiative will be to develop Sanali Towers, the Dh.1.3bn development in Downtown Dubailand, which will be followed by a series of developments. The Sanali Towers will be a 30-storey development, with one million square feet of commercial and retail space, facing the prestigious developments of Living Legends and Al Barari. Developed by Sanali Holdings, the project has been purchased by Al Barakah Investments, and will be marketed by Inside Track Real Estate Brokers LLC.
Each of the towers will comprise retail spaces on the ground, apart from office space and health club facilities. The offices will have spacious underground car parking. Al Barakah is offering buyers of Sanali Towers, interest-free payment in a span of ten years, for the first time ever in Dubai.
After having recently announced the development of a 30 storey tower in Ajman, the group will announce its first project in Dubai in February. Al Barakah plans to focus on establishing long-term associations with property investors and buyers, through transparent dealings, so as to make them fully aware of the various aspects of property ownership. The company has already acquired several plots in Dubailand, Downtown Jebel Ali, and Ajman with a built-up area in excess of three million square feet.
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First of such an initiative will be to develop Sanali Towers, the Dh.1.3bn development in Downtown Dubailand, which will be followed by a series of developments. The Sanali Towers will be a 30-storey development, with one million square feet of commercial and retail space, facing the prestigious developments of Living Legends and Al Barari. Developed by Sanali Holdings, the project has been purchased by Al Barakah Investments, and will be marketed by Inside Track Real Estate Brokers LLC.Each of the towers will comprise retail spaces on the ground, apart from office space and health club facilities. The offices will have spacious underground car parking. Al Barakah is offering buyers of Sanali Towers, interest-free payment in a span of ten years, for the first time ever in Dubai.
After having recently announced the development of a 30 storey tower in Ajman, the group will announce its first project in Dubai in February. Al Barakah plans to focus on establishing long-term associations with property investors and buyers, through transparent dealings, so as to make them fully aware of the various aspects of property ownership. The company has already acquired several plots in Dubailand, Downtown Jebel Ali, and Ajman with a built-up area in excess of three million square feet.
Labels: Dubailand, Real Estate Company, Real Estate Projects, UAE
Khuyool to invest in 13 realty projects in Dubai totaling to Dh.3bn
Thursday, December 27, 2007
Khuyool Investments has announced an investment of Dh.3billion in about 13 real estate projects in Dubai, revealed top officials of the company.
The Chairman of Khuyool Investments, Fahad Ali Moosa, said these include 10 projects, with five high-rise towers in Jumeirah Village South, and five mid-rise buildings. There will also be three towers being built in the Downtown Jebel Ali, as this is the beginning of a long journey.
He continued - Our first project, the Abjar Tower, with 64 storey, has received tremendous response from the market, and we are confident that the demand would continue to drive our future projects.
The company has been active in the Sharjah real estate sector for quite some time, and has just entered the Dubai market.
Strong housing demand, coupled with high oil price and massive investments in infrastructure is drawing investors to Dubai's real estate market.
Social BookmarkingThe Chairman of Khuyool Investments, Fahad Ali Moosa, said these include 10 projects, with five high-rise towers in Jumeirah Village South, and five mid-rise buildings. There will also be three towers being built in the Downtown Jebel Ali, as this is the beginning of a long journey.
He continued - Our first project, the Abjar Tower, with 64 storey, has received tremendous response from the market, and we are confident that the demand would continue to drive our future projects.
The company has been active in the Sharjah real estate sector for quite some time, and has just entered the Dubai market.
Strong housing demand, coupled with high oil price and massive investments in infrastructure is drawing investors to Dubai's real estate market.
Labels: Real Estate Company, Real Estate News, Real Estate Projects
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
Al Moosa plans UAE expansion
Friday, November 16, 2007
Al Moosa Enterprises, the owner and operator of Golden Sands Hotel Apartments in Dubai, announced plans to open other properties under the same brand name in Sharjah, Fujairah and Abu Dhabi.
The current portfolio of Al Moosa comprises serviced apartments with 11 Golden Sands, 3 Silver Sands, and an inventory of 1800 accommodation units.
The General Manager of Golden Sands, Mohammad Khoori, said at present Al Moosa plans to have atleast one Golden Sands in Sharjah, Abu Dhabi and Fujairah.
Khoori added that the group also plans to invest in several other new hotels, managed by international chains, while the negotiations are also on for management contract for a four-star hotel in Jumeirah Beach Residence, and a five-star hotel in Palm Jumeirah.
Apart from this, Al Moosa is also the owner of two Hilton-managed properties, and one Four Points Sheraton hotel, which is operated by Starwood in Dubai.
Social BookmarkingThe current portfolio of Al Moosa comprises serviced apartments with 11 Golden Sands, 3 Silver Sands, and an inventory of 1800 accommodation units.
The General Manager of Golden Sands, Mohammad Khoori, said at present Al Moosa plans to have atleast one Golden Sands in Sharjah, Abu Dhabi and Fujairah.
Khoori added that the group also plans to invest in several other new hotels, managed by international chains, while the negotiations are also on for management contract for a four-star hotel in Jumeirah Beach Residence, and a five-star hotel in Palm Jumeirah.
Apart from this, Al Moosa is also the owner of two Hilton-managed properties, and one Four Points Sheraton hotel, which is operated by Starwood in Dubai.
Labels: Real Estate Company, Real Estate News, UAE
City of Arabia developer arranges finance options
Wednesday, November 14, 2007
The Ilyas & Mustafa Galadari Group, the developers of a landmark residential and commercial development City of Arabia, in Dubailand, have entered into a deal with Dubai Islamic Bank (DIB) for financing options for their City of Arabia project.
The Chairman of the Group, Ilyas Galadari, said that the MOU is an important step forward in realizing their desire to provide Islamic financing to investors in City of Arabia. With a range of properties ranging from the Wadi Walk residential apartments to the Mall of Arabia, investors get an easy access to a wide range of financial options.
The Senior Vice President of Retail and Business Banking Services, DIB, Mohammad Ameery, expressing his excitement regarding the deal, mentioned that the City of Arabia developed by the group includes houses that are unique and modern in the UAE.
As per the MOU, the Dubai Sports City and DIB will exchange information pertaining to the property market, and other relevant information, that contributes in developing the country's property sector. The signing of the MOU is coincidental with the DIB's vision in meeting the customer requirements who wish to acquire properties in City of Arabia.
Social BookmarkingThe Chairman of the Group, Ilyas Galadari, said that the MOU is an important step forward in realizing their desire to provide Islamic financing to investors in City of Arabia. With a range of properties ranging from the Wadi Walk residential apartments to the Mall of Arabia, investors get an easy access to a wide range of financial options.
The Senior Vice President of Retail and Business Banking Services, DIB, Mohammad Ameery, expressing his excitement regarding the deal, mentioned that the City of Arabia developed by the group includes houses that are unique and modern in the UAE.
As per the MOU, the Dubai Sports City and DIB will exchange information pertaining to the property market, and other relevant information, that contributes in developing the country's property sector. The signing of the MOU is coincidental with the DIB's vision in meeting the customer requirements who wish to acquire properties in City of Arabia.
Labels: City-of-Arabia, Mortgages, Real Estate Company
ETA Star awarded with Superbrand recognition; becomes the first in the region to receive the certification
Sunday, November 11, 2007
UAE's well-known property firm, ETA Star Property Developers LLC, has been elected as a 'Superbrand' by the UAE Superbrands Council. ETA Star is the first private real estate developer to be voted as the strongest brands in the region.
This award further strengthens the position of ETA, as one of the fastest growing player in the property sector. ETA Star bagged this award with its unique set of brand values, and the equity that it enjoys in the market.
The Executive Director of ETA Star, Abid Junaid, said "Being chosen as a 'Superbrand' is indeed an honour and being the youngest brand to receive this honour adds to the gratification. We are glad that our aim to differentiate ourselves and be considered a trustworthy and reliable brand has been fruitful."
ETA Star is the region's first realty developer to receive this ISO certification. The company has launched several commercial and residential realty projects successfully in various master development communities such as the Dubai Marina, Business Bay, Dubai International Financial Center, International Media Production Zone and Jumeirah Lake Towers.
Social BookmarkingThis award further strengthens the position of ETA, as one of the fastest growing player in the property sector. ETA Star bagged this award with its unique set of brand values, and the equity that it enjoys in the market.
The Executive Director of ETA Star, Abid Junaid, said "Being chosen as a 'Superbrand' is indeed an honour and being the youngest brand to receive this honour adds to the gratification. We are glad that our aim to differentiate ourselves and be considered a trustworthy and reliable brand has been fruitful."ETA Star is the region's first realty developer to receive this ISO certification. The company has launched several commercial and residential realty projects successfully in various master development communities such as the Dubai Marina, Business Bay, Dubai International Financial Center, International Media Production Zone and Jumeirah Lake Towers.
Labels: ETA-Star, Property Awards, Real Estate Company
United Holdings - new multi-disciplinary investment firm launched
Friday, November 02, 2007
A new private multi-disciplinary holding investment firm, United Holdings, has been launched for embarking on investments worth Dh.19.8billion during the coming years. The company, with its position as a premium investment firms, will concentrate mainly on opportunities in Dubai property sector.
The Chairman of United Holdings, Mohammed Ali Al-Hashimi, said "After extensive research and planning, we are proud to officially launch United Holdings, which is well positioned to address investment opportunities across various economic sectors."
United Holdings plans to invest in various esteemed projects in the prime locations in Dubai, including the Sheikh Zayed Road, Palm Jebel Ali, Downtown Burj Dubai, Palm Jumeirah, Umm Suqueim, Dubai Water Front, and The World Islands.
United Holdings also has planned for real estate developments in Abu Dhabi and the northern emirates. Construction has already begun in Tiara United Office Tower, worth Dh.900million on Sheikh Zayed Road. The Tiara United Office Tower, worth 2.4billion is a joint-venture with Zabeel Investments, expected to be ready in 2009.
United Holdings is also planning diversification of its investment portfolio by investing in a range of assets across various economic sectors including financial services, hospitality, private equity and manufacturing.
Details pertaining to other projects will follow soon.
Social BookmarkingThe Chairman of United Holdings, Mohammed Ali Al-Hashimi, said "After extensive research and planning, we are proud to officially launch United Holdings, which is well positioned to address investment opportunities across various economic sectors."
United Holdings plans to invest in various esteemed projects in the prime locations in Dubai, including the Sheikh Zayed Road, Palm Jebel Ali, Downtown Burj Dubai, Palm Jumeirah, Umm Suqueim, Dubai Water Front, and The World Islands.
United Holdings also has planned for real estate developments in Abu Dhabi and the northern emirates. Construction has already begun in Tiara United Office Tower, worth Dh.900million on Sheikh Zayed Road. The Tiara United Office Tower, worth 2.4billion is a joint-venture with Zabeel Investments, expected to be ready in 2009.United Holdings is also planning diversification of its investment portfolio by investing in a range of assets across various economic sectors including financial services, hospitality, private equity and manufacturing.
Details pertaining to other projects will follow soon.
Labels: Business Tower, Office Space, Real Estate Company
Al Fara'a kick-starts construction of Manhattan Apartments at Jumeirah
Wednesday, October 31, 2007
Al Fara'a Properties recently held the ground breaking ceremony to mark the commencement of construction works of their Dh.353mn Manhattan Luxury Apartments in Jumeirah Village.
The groundbreaking ceremony was conducted just after the successful launch of Manhattan Luxury Apartments at the recent Cityscape Dubai 2007, when the project generated considerable buyer interest, with more than 72 percent of the project, being sold out.
The construction contract for the luxury apartments has been handed over to Al Fara'a General Contracting Company (AFGCO) and their team of qualified professionals. AFGCO has a successful history of more than 26 years in implementing projects around UAE, such as the Al Attar Tower, Rotana Hotel, and the Sheikh Mansoor bin Zayed Tower, among others.
Alongside the sidelines of groundbreaking ceremony, Al Fara'a Properties has registered for an Escrow Account with Emirates Islamic Bank, in compliance with regulations stipulated by Dubai Land Department.
The Manhattan Luxury Apartments draws inspiration from the 1930's urban residences of New York, comprising 355 elegant units with a classic selection of studio, single, double and triple bedroom apartments. These apartments, coupled with the stunning landscapes of Jumeirah Village, have been so designed to include well-planned master bedrooms, generous walk-in closets, beautifully appointed bathrooms, and spacious and comfortable interiors with distinctive accent lighting. The other amenities within the complex include state-of-the-art gymnasium, a swimming pool with sauna and steam facilities, and children play area.
The General Manager for AFGCO, Ahmad Maarouf said "Our vast experience in construction business has provided us with utmost confidence in handling a high-profile project like Manhattan Apartments. The strength of our expertise will ensure that we live up to our reputation of delivering quality work within prescribed time frame."
The company has committed that the works would be complete within 24 months, towards end of 2009.
Social BookmarkingThe groundbreaking ceremony was conducted just after the successful launch of Manhattan Luxury Apartments at the recent Cityscape Dubai 2007, when the project generated considerable buyer interest, with more than 72 percent of the project, being sold out.The construction contract for the luxury apartments has been handed over to Al Fara'a General Contracting Company (AFGCO) and their team of qualified professionals. AFGCO has a successful history of more than 26 years in implementing projects around UAE, such as the Al Attar Tower, Rotana Hotel, and the Sheikh Mansoor bin Zayed Tower, among others.
Alongside the sidelines of groundbreaking ceremony, Al Fara'a Properties has registered for an Escrow Account with Emirates Islamic Bank, in compliance with regulations stipulated by Dubai Land Department.
The Manhattan Luxury Apartments draws inspiration from the 1930's urban residences of New York, comprising 355 elegant units with a classic selection of studio, single, double and triple bedroom apartments. These apartments, coupled with the stunning landscapes of Jumeirah Village, have been so designed to include well-planned master bedrooms, generous walk-in closets, beautifully appointed bathrooms, and spacious and comfortable interiors with distinctive accent lighting. The other amenities within the complex include state-of-the-art gymnasium, a swimming pool with sauna and steam facilities, and children play area.
The General Manager for AFGCO, Ahmad Maarouf said "Our vast experience in construction business has provided us with utmost confidence in handling a high-profile project like Manhattan Apartments. The strength of our expertise will ensure that we live up to our reputation of delivering quality work within prescribed time frame."
The company has committed that the works would be complete within 24 months, towards end of 2009.
Labels: Apartments, Construction Projects, Jumeriah Village, Luxury Homes, Real Estate Company
Dubai Properties to unveil two new projects at Cityscape Dubai 2007
Sunday, October 14, 2007
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.
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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
Omniyat announces Dh.6bn worth real estate projects in Dubai
Thursday, October 11, 2007
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.
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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
Cirrus Development- the first in Dubai to form a Trust Account, prior to announcing a single property
Wednesday, October 10, 2007
Cirrus Developments, a leading Dubai real estate developer, has entered into a Partnership with Badr Al-Islami, the Islamic Banking Division of Mashreq, to form a Trust Management Account for the security of property buyers.
The Partners have announced an awareness campaign to keep the public informed about the new Emirate of Dubai Property Law (Law No.8, 2007) that offers protection for investors buying 'off-plan'.
Cirrus Developments holds the credit of being the first property developer in Dubai to have set up a Trust Account even before announcing a single property offering in the market. Also, Badr Al Islami becomes the first finance house to receive approval from Dubai Land Department to provide these accounts.
The account has been activated based on the new Law No.8 of 2007 that guarantee accounts of real estate developments in Dubai that came into effect in July 2007. The law aims to protect purchasers in off-plan transactions by creating trust accounts so that the installation payments are managed.
The Chairman & CEO of Cirrus Developments, Behnam Eshragh, said "As a developer, we volunteered to be part of the Trust Management account six months prior to the time when the law was passed. The new property law is welcome news for property buyers in Dubai. We aim to offer our best possible experience for our customers, and this is a mark of our commitment in this area."
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The Partners have announced an awareness campaign to keep the public informed about the new Emirate of Dubai Property Law (Law No.8, 2007) that offers protection for investors buying 'off-plan'.Cirrus Developments holds the credit of being the first property developer in Dubai to have set up a Trust Account even before announcing a single property offering in the market. Also, Badr Al Islami becomes the first finance house to receive approval from Dubai Land Department to provide these accounts.
The account has been activated based on the new Law No.8 of 2007 that guarantee accounts of real estate developments in Dubai that came into effect in July 2007. The law aims to protect purchasers in off-plan transactions by creating trust accounts so that the installation payments are managed.
The Chairman & CEO of Cirrus Developments, Behnam Eshragh, said "As a developer, we volunteered to be part of the Trust Management account six months prior to the time when the law was passed. The new property law is welcome news for property buyers in Dubai. We aim to offer our best possible experience for our customers, and this is a mark of our commitment in this area."
Labels: Real Estate Company, Real Estate News
Le Grand Chateau from Al Fara'a Properties meets hundred percent sales
Saturday, October 06, 2007
The flagship subsidiary, Al Fara'a Properties, of the Al Fara'a Construction Group, has announced hundred percent sale of its signature project Le Grand chateau, worth Dh.225million. Al Fara'a is progressing as scheduled and is expected to be delivered in the last quarter of 2008, thereby being the first to deliver a project in Jumeirah Village.
This success by Al Fara's group comes at the right time, when the region has been witnessing unparalleled growth in real estate developments, says Gangaramani, the MD and CEO of Al Fara'a Construction Group.
"Dubai has developed into a major tourist destination in Middle East with 2100 construction projects being planned or under construction across the Gulf, touching $1.5trillion mark in value. Hence, keeping our developments apart in terms of timely delivery, service and quality and value are the major factors behind the success of Al Fara'a Properties," says Gangaramani.
Le Grand Chateau is much sought-after, due to its ideal location at the heart of Jumeirah Village Community, adjacent to green belt, and its timeless architectural splendor that depicts the 16th Century Chateaux of the Loire Valley in France.
This success by Al Fara's group comes at the right time, when the region has been witnessing unparalleled growth in real estate developments, says Gangaramani, the MD and CEO of Al Fara'a Construction Group.
"Dubai has developed into a major tourist destination in Middle East with 2100 construction projects being planned or under construction across the Gulf, touching $1.5trillion mark in value. Hence, keeping our developments apart in terms of timely delivery, service and quality and value are the major factors behind the success of Al Fara'a Properties," says Gangaramani.
Le Grand Chateau is much sought-after, due to its ideal location at the heart of Jumeirah Village Community, adjacent to green belt, and its timeless architectural splendor that depicts the 16th Century Chateaux of the Loire Valley in France.
The development consist of luxurious four bedroom G+2 townhouses, and an apartment block with 185 studios, single, double and triple bedroom apartments, overlooking the landscaped courtyard.
Labels: Dubai Real Estate, Jumeriah Village, Real Estate Company, Sales, Studios, Townhouses
Dubai World joins hand with 'One & Only' for luxurious Zanzibar Resorts
Thursday, October 04, 2007
Dubai World has announced its partnership with 'One& Only Resorts' for development and management of its new luxury resort in Zanzibar, worth $150million, due to be opened in 2009. Dubai World, managers and supervises the portfolio of real estate projects and businesses for the Dubai Government.
'One&Only Zanzibar' will feature a 50-room residence, a 150-room luxury hotel, and a spa retreat, on a 76-Hectare site at Muyuni Beach in Zanzibar. Located on an exclusive part of Zanzibar, facing an island of coral reefs, the Muyuni Beach houses some of the leading dive sites in Africa.
The resort is situated just 45 minutes away from the island's renowned world heritage site, The Stone Town. It is just 15-minutes away by flight from Dar Es Salam, and is easily accessible by flight from Dubai and Nairobi.
The Chairman of Dubai World, Sultan bin Sulayem says "Zanzibar resort aims to be known as the most luxurious and beautiful resort destinations in the world. Hence our choice of partners is of utmost importance for this project. We are delighted about our relationship with One & Only and its Parent company, Kerzner International. One&Only Resorts will be known as the hallmark of excellence and a truly spectacular property."
The One&Only Resorts is one among the premier luxury hotel brands with six resort properties in the Maldives, Mexico, Mauritius, Bahamas and Dubai.
Social Bookmarking'One&Only Zanzibar' will feature a 50-room residence, a 150-room luxury hotel, and a spa retreat, on a 76-Hectare site at Muyuni Beach in Zanzibar. Located on an exclusive part of Zanzibar, facing an island of coral reefs, the Muyuni Beach houses some of the leading dive sites in Africa.
The resort is situated just 45 minutes away from the island's renowned world heritage site, The Stone Town. It is just 15-minutes away by flight from Dar Es Salam, and is easily accessible by flight from Dubai and Nairobi.
The Chairman of Dubai World, Sultan bin Sulayem says "Zanzibar resort aims to be known as the most luxurious and beautiful resort destinations in the world. Hence our choice of partners is of utmost importance for this project. We are delighted about our relationship with One & Only and its Parent company, Kerzner International. One&Only Resorts will be known as the hallmark of excellence and a truly spectacular property."
The One&Only Resorts is one among the premier luxury hotel brands with six resort properties in the Maldives, Mexico, Mauritius, Bahamas and Dubai.
Labels: International, Real Estate Company, Resorts