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
Gulf Property market unlikely to succumb to global property fall trend
Tuesday, July 08, 2008
For those of you, who are on the look out for an investment opportunity that doesn't succumb to the global fall in property investment transactions, the Gulf property market is still a welcoming one.
According to Robin Williamson, the Managing Director-Middle East operations of DTZ, expert real estate firm, although the initial phase of sub-prime crisis seems to have passed, the credit crunch is likely to continue well into 2009, particularly, in the European and US property markets.
However, on the contrary, the Gulf region and few other markets such as the Asia Pacific, will be less affected to a great extent, and will continue to be an attractive one, he added.
This positive stance about the Gulf Market follows the publication of DTZ's annual Money into Property report, which studies the global property trends. The report shows that the value of real estate capital market has touched $12trillion in 2007, an increase of over 18 percent from the previous year.
As against the year 2007, when Global Investment transactions grew to $730bn, DTZ expects a fall of 30 percent this year touching $500bn, due to the global investment environment last year. Even the global direct real estate transactions have fallen by 50 percent during the first quarter of 2008, as against the same period during 2007.
Williamson revealed that only a few regions can escape the effects of the sub-prime fall out. Based on the company's research and on-the-ground experience in dealing with Gulf markets, there are strong indications that the global property markets are less likely to surrender to these global trends.
DTZ, which began its operations in 1975, is one of the most established realty firms in the region, with a strong presence in six GCC locations, including Dubai, Abu Dhabi, Bahrain, Qatar, Kuwait and Saudi Arabia.
Social BookmarkingAccording to Robin Williamson, the Managing Director-Middle East operations of DTZ, expert real estate firm, although the initial phase of sub-prime crisis seems to have passed, the credit crunch is likely to continue well into 2009, particularly, in the European and US property markets.
However, on the contrary, the Gulf region and few other markets such as the Asia Pacific, will be less affected to a great extent, and will continue to be an attractive one, he added.
This positive stance about the Gulf Market follows the publication of DTZ's annual Money into Property report, which studies the global property trends. The report shows that the value of real estate capital market has touched $12trillion in 2007, an increase of over 18 percent from the previous year.
As against the year 2007, when Global Investment transactions grew to $730bn, DTZ expects a fall of 30 percent this year touching $500bn, due to the global investment environment last year. Even the global direct real estate transactions have fallen by 50 percent during the first quarter of 2008, as against the same period during 2007.
Williamson revealed that only a few regions can escape the effects of the sub-prime fall out. Based on the company's research and on-the-ground experience in dealing with Gulf markets, there are strong indications that the global property markets are less likely to surrender to these global trends.
DTZ, which began its operations in 1975, is one of the most established realty firms in the region, with a strong presence in six GCC locations, including Dubai, Abu Dhabi, Bahrain, Qatar, Kuwait and Saudi Arabia.
Labels: Market Trends, Middle-East, Real Estate News
Rents in Abu Dhabi to continue to soar
Thursday, June 05, 2008
Rents in Abu Dhabi, although have reached their maximum best, are likely to increase further, during the next few years, in view of the worsening shortage in supply, reveal recent reports.
According to the Abu Dhabi Chamber of Commerce and Industry The low and middle income expatriates will be the worst affected with the increase in rents, which have more than doubled during the past three years, while the salaries have remained the same.
After years of stability during 1990s and 2000, the property market in Abu Dhabi witnessed a jerk in 2006, due to the strong domestic demand, caused by an economic upsurge that shot up rents to sky-high levels, despite the introduction of rent caps by the government.
The Chamber reports that although the real estate market in the capital was more or less stabilized in 2005, with the 287,000 housing units being able to cover the domestic demand, a surge in demand during 2006, did not meet a similar supply growth. This resulted in a shortage of 3000 units. During the year 2007, the demand-supply gap was more than doubled and touched nearly 8000 and is further expected to touch 20,000 by this year.
The Chamber, in its report, states "Most housing units which will enter the market this year will cater to the hig-income sector, while the low and middle-income category will be the victims of shortage and rent increases."
"We expect a record supply shortage in housing units, which exceeds 20,000. This will aggravate the property situation in the emirate, pushing it from bad to worse, which in turn will affect the economic activities in the emirate and push inflation to new record levels," the report said.
According to property dealers, rents in the capital have increased by more than 25 percent in 2007, and by 15 percent during first quarter of this year. The increase has been attributed to the huge increase in demand and rapid growth in population, an intensifying influx of expatriate workers due to surge in projects in the Capital, failure by landlords to abide by the rent caps, and the concentration of property developers on costlier properties that caters to high-income sector.
"Buildings that are under construction in Abu Dhabi will cater to only 20 percent of the demand. This will only widen the supply shortage, and when coupled with the population growth, it will push rents to record high levels. As rents account for more than 40 percent of consumer spending, this increase will further aggravate inflation in the emirate," states the Chamber report.
Abu Dhabi has one of the highest per-capita incomes in the world, projected to touch Dh.225,000 in 2008. As per figures by the Abu Dhabi Department of Planning and Economy, population in Abu Dhabi has grown by 12.6 percent, and is likely to grow by 7.5 percent his year, which is one of the highest in the world.
Social BookmarkingAccording to the Abu Dhabi Chamber of Commerce and Industry The low and middle income expatriates will be the worst affected with the increase in rents, which have more than doubled during the past three years, while the salaries have remained the same.
After years of stability during 1990s and 2000, the property market in Abu Dhabi witnessed a jerk in 2006, due to the strong domestic demand, caused by an economic upsurge that shot up rents to sky-high levels, despite the introduction of rent caps by the government.
The Chamber reports that although the real estate market in the capital was more or less stabilized in 2005, with the 287,000 housing units being able to cover the domestic demand, a surge in demand during 2006, did not meet a similar supply growth. This resulted in a shortage of 3000 units. During the year 2007, the demand-supply gap was more than doubled and touched nearly 8000 and is further expected to touch 20,000 by this year.
The Chamber, in its report, states "Most housing units which will enter the market this year will cater to the hig-income sector, while the low and middle-income category will be the victims of shortage and rent increases."
"We expect a record supply shortage in housing units, which exceeds 20,000. This will aggravate the property situation in the emirate, pushing it from bad to worse, which in turn will affect the economic activities in the emirate and push inflation to new record levels," the report said.
According to property dealers, rents in the capital have increased by more than 25 percent in 2007, and by 15 percent during first quarter of this year. The increase has been attributed to the huge increase in demand and rapid growth in population, an intensifying influx of expatriate workers due to surge in projects in the Capital, failure by landlords to abide by the rent caps, and the concentration of property developers on costlier properties that caters to high-income sector.
"Buildings that are under construction in Abu Dhabi will cater to only 20 percent of the demand. This will only widen the supply shortage, and when coupled with the population growth, it will push rents to record high levels. As rents account for more than 40 percent of consumer spending, this increase will further aggravate inflation in the emirate," states the Chamber report.
Abu Dhabi has one of the highest per-capita incomes in the world, projected to touch Dh.225,000 in 2008. As per figures by the Abu Dhabi Department of Planning and Economy, population in Abu Dhabi has grown by 12.6 percent, and is likely to grow by 7.5 percent his year, which is one of the highest in the world.
Labels: Abu Dhabi, Real Estate News, Rentals
Abyaar, Mada'in join hands to launch $817m worth projects
Saturday, May 31, 2008
The Dubai-based Mada'in Properties, together with Kuwait-based Abyaar, have together ventured into launch of new development projects in Dubai. To begin with, two projects worth Dh.3 billion will be launched.
According to the Abyaar Vice-Chairman and Managing Director, Al-Rashdan, the projects mark the beginning of a long-term partnership between the two companies, specializing in state-of-the-art high-end development.
The first project will be located at the prestigious Dubai Marina, and comprises 107 exclusive units, along with townhouses. The construction of the tower is due to begin by second half of this year.
The next project would be the Meydan master development, which has been long-awaited. Meydan, located near Nad Al Sheba in Dubai, is an area renowned for hosting of Dubai World Cup.
Combined plots with total built-up area of 884,815 square feet, will be developed as mixed-use development and will comprise residential, commercial and retail segments. The design and conceptualization work has already commenced.
Al-Rashdan has confirmed that the high-end quality will be maintained throughout their project, which targets the discerning, niche investor.
The CEO of Mada'in properties Abdulaziz Al Alwar said that the company has already made its presence felt with their first launch Marina Arcade at Dubai Marina. The 64 storey development was one-of-its-kind offering smart home technology, landscaped roof top gardens, largest health and fitness centers, full scale jogging track, rooftop townhouses with Jacuzzis, penthouses, duplexes and Sky Palace.
Social BookmarkingAccording to the Abyaar Vice-Chairman and Managing Director, Al-Rashdan, the projects mark the beginning of a long-term partnership between the two companies, specializing in state-of-the-art high-end development.
The first project will be located at the prestigious Dubai Marina, and comprises 107 exclusive units, along with townhouses. The construction of the tower is due to begin by second half of this year.
The next project would be the Meydan master development, which has been long-awaited. Meydan, located near Nad Al Sheba in Dubai, is an area renowned for hosting of Dubai World Cup.
Combined plots with total built-up area of 884,815 square feet, will be developed as mixed-use development and will comprise residential, commercial and retail segments. The design and conceptualization work has already commenced.
Al-Rashdan has confirmed that the high-end quality will be maintained throughout their project, which targets the discerning, niche investor.
The CEO of Mada'in properties Abdulaziz Al Alwar said that the company has already made its presence felt with their first launch Marina Arcade at Dubai Marina. The 64 storey development was one-of-its-kind offering smart home technology, landscaped roof top gardens, largest health and fitness centers, full scale jogging track, rooftop townhouses with Jacuzzis, penthouses, duplexes and Sky Palace.
Labels: Real Estate News
Dubai realty remains unabated despite fluctuations in other sectors
Thursday, April 10, 2008
The growth of real estate sector in Dubai remains protected from all other fluctuations currently happening in oil prices, whether short or medium term, and in fact, the higher oil prices will only stimulate the fast-paced growth.
The value of few of the realty projects in GCC, Iraq and Iran have crossed $750bn, and about 33% of this belongs to the UAE, particularly, Dubai. The figure is higher than the combined GDP (Gross Domestic Product) in the same region, which totals to less than $700bn.
Experts predict that this trend will continue, despite the fact that oil prices are likely to drop during the short and medium terms.
A strong point to be noted in the growth of Dubai is that it has been consistently defying all predictions by Analysts. Over the past five years, most experts predicted that the realty market in Dubai will begin to show a downward trend, and that it is a "bubble waiting to be burst".
Although it is agreed that such growth has never been sustainable for long, none is able to explain why the market continues to thrive in Dubai.
GCC has the 17th largest economy in the world, with 500,000 high-income earners and a GDP of $525 billion. The total half trillion dollar economy creates more than $500 billion in revenue, which is being used for investment. The volume is believed to boost the real estate and construction sector in Dubai.
Social BookmarkingThe value of few of the realty projects in GCC, Iraq and Iran have crossed $750bn, and about 33% of this belongs to the UAE, particularly, Dubai. The figure is higher than the combined GDP (Gross Domestic Product) in the same region, which totals to less than $700bn.
Experts predict that this trend will continue, despite the fact that oil prices are likely to drop during the short and medium terms.
A strong point to be noted in the growth of Dubai is that it has been consistently defying all predictions by Analysts. Over the past five years, most experts predicted that the realty market in Dubai will begin to show a downward trend, and that it is a "bubble waiting to be burst".
Although it is agreed that such growth has never been sustainable for long, none is able to explain why the market continues to thrive in Dubai.
GCC has the 17th largest economy in the world, with 500,000 high-income earners and a GDP of $525 billion. The total half trillion dollar economy creates more than $500 billion in revenue, which is being used for investment. The volume is believed to boost the real estate and construction sector in Dubai.
Labels: Dubai Real Estate, Market Trends, Real Estate News
Dubai Properties to launch 50,000 low-budget homes
Saturday, March 29, 2008
A top official of Dubai Properties yesterday revealed the launch of 50,000 low-budget homes during the coming years, to meet the growing housing problem among the emirate's middle-income groups.
These affordable housing units will be a true mix of freehold and rental units, announced Mohammad Bin Braik, Chief Executive, Dubai Property Group.
"Although we are involved mainly in built-to-sell business, rental units give a continuous flow of guaranteed returns and provide necessary stability. We are not only building assets, but also building values for Dubai," said Bin Braik.
Dubai Properties has already built a sizeable housing project in Al Quoz area, which will soon be open for rent, he said, but is yet to elaborate on his plans for various housing schemes.
This seems to be good news for the 1.44 million population of the emirate, large numbers of who, stay in Ajman and Sharjah seeking cheaper alternatives, as most of the current projects cater only to high-income groups, leading to imbalance in the emirate's housing market.
House rent and increasing population continues to dominate the list of worries in Dubai, which has prompted the government to cap rents during recent years. A sudden growth in freehold market since 2002, led major developers to shift their focus from rental market to freehold sector. On the other hand demand continued to soar, pushing rents sky-high.
In the meanwhile, large numbers of government-built colonies and low-cost housings were demolished, reducing housing options for the middle-income and low-income groups.
Nakheel, a government-owned developer, has set up 'International City', considered as affordable housing.
According to a top property broker, the high rents at prevailing currently, are good enough to prompt developers to return to rental market, once the income rises up to the same level as that of freehold market.
Social BookmarkingThese affordable housing units will be a true mix of freehold and rental units, announced Mohammad Bin Braik, Chief Executive, Dubai Property Group.
"Although we are involved mainly in built-to-sell business, rental units give a continuous flow of guaranteed returns and provide necessary stability. We are not only building assets, but also building values for Dubai," said Bin Braik.
Dubai Properties has already built a sizeable housing project in Al Quoz area, which will soon be open for rent, he said, but is yet to elaborate on his plans for various housing schemes.
This seems to be good news for the 1.44 million population of the emirate, large numbers of who, stay in Ajman and Sharjah seeking cheaper alternatives, as most of the current projects cater only to high-income groups, leading to imbalance in the emirate's housing market.
House rent and increasing population continues to dominate the list of worries in Dubai, which has prompted the government to cap rents during recent years. A sudden growth in freehold market since 2002, led major developers to shift their focus from rental market to freehold sector. On the other hand demand continued to soar, pushing rents sky-high.
In the meanwhile, large numbers of government-built colonies and low-cost housings were demolished, reducing housing options for the middle-income and low-income groups.
Nakheel, a government-owned developer, has set up 'International City', considered as affordable housing.
According to a top property broker, the high rents at prevailing currently, are good enough to prompt developers to return to rental market, once the income rises up to the same level as that of freehold market.
Labels: Dubai Real Estate, Real Estate News
UAE Realty market still high in demand
Monday, March 24, 2008
The huge numbers of participators, investors and buyers who thronged the R&R Local Property Show held in Dubai recently, indicates the strong demand for real estate in the UAE.
The Marketing Director of DSL Exhibitions, Tessa Morris says "The R&R Local Property Show is a true reflection and display of UAE properties. Being one of the oldest exhibitions in the UAE, it is also a fair gauge of market sentiment."
"The show witnessed large numbers of visitors than previous shows, and brisk businesses were being conducted, which is a clear indication that suggests that we are nowhere near the peak of the market. Investor interest is a major factor and both institutional as well as individual investors still foresee an opportunity for gains. However, the end-user confidence contributes considerably to the demand," Tessa said.
The focus was not centered on Dubai property market alone, but also in the market of Ajman, where there is much demand for affordable properties, at present. To add to this, the excellent payment plans direct from developers makes Northern Emirates a more viable opportunity.
Social BookmarkingThe Marketing Director of DSL Exhibitions, Tessa Morris says "The R&R Local Property Show is a true reflection and display of UAE properties. Being one of the oldest exhibitions in the UAE, it is also a fair gauge of market sentiment."
"The show witnessed large numbers of visitors than previous shows, and brisk businesses were being conducted, which is a clear indication that suggests that we are nowhere near the peak of the market. Investor interest is a major factor and both institutional as well as individual investors still foresee an opportunity for gains. However, the end-user confidence contributes considerably to the demand," Tessa said.
The focus was not centered on Dubai property market alone, but also in the market of Ajman, where there is much demand for affordable properties, at present. To add to this, the excellent payment plans direct from developers makes Northern Emirates a more viable opportunity.
Labels: Real Estate News, UAE
Real estate sales peaked to Dh 1.16bn last week
Saturday, March 01, 2008
Real Estate Sales in Dubai last weeks peaked to Dh.1.16bn, reveals Dubai Land Department.
Al Warsan First recorded the highest sale for a plot with Dh.39,500,500 followed by Al Farsan First at Dh.35,000,000 for the sale of a building.
The villa sales for the week were done at Emirates Hills Third. The total value of land sales recorded, was the highest on 27th February 2008, Wednesday, at Dh.279,475,904.
The combined value of plot sales, flat-sales and villa-sale for the period was Dh.715.9mn, Dh.114.8mn and Dh.18.36mn respectively.
The Construction sector in Dubai, in the meanwhile, is well up-to-the mark, and is on par with the surging demand for space in the emirate.
Trakhees, the Civil Engineering Department of Ports, Customs and Free Zone Corporation has issued an average of 250 permits per day for construction of buildings in Dubai last year.
The Managing Director of Trakhees, Nazek Al Sabbagh, said "The growth in construction sector of Dubai, is ahead of demand, and recorded significant growth last year. Dubai is a world-class city which will see numerous state-of-the-art buildings in days to come."
Also, with the maturing markets of Dubai real estate and construction sectors, the emirate witnessed a considerable drop (from 30% in 2006 to 10% in 2007) in number of construction violations during the past year.
Social BookmarkingAl Warsan First recorded the highest sale for a plot with Dh.39,500,500 followed by Al Farsan First at Dh.35,000,000 for the sale of a building.
The villa sales for the week were done at Emirates Hills Third. The total value of land sales recorded, was the highest on 27th February 2008, Wednesday, at Dh.279,475,904.
The combined value of plot sales, flat-sales and villa-sale for the period was Dh.715.9mn, Dh.114.8mn and Dh.18.36mn respectively.
The Construction sector in Dubai, in the meanwhile, is well up-to-the mark, and is on par with the surging demand for space in the emirate.
Trakhees, the Civil Engineering Department of Ports, Customs and Free Zone Corporation has issued an average of 250 permits per day for construction of buildings in Dubai last year.
The Managing Director of Trakhees, Nazek Al Sabbagh, said "The growth in construction sector of Dubai, is ahead of demand, and recorded significant growth last year. Dubai is a world-class city which will see numerous state-of-the-art buildings in days to come."
Also, with the maturing markets of Dubai real estate and construction sectors, the emirate witnessed a considerable drop (from 30% in 2006 to 10% in 2007) in number of construction violations during the past year.
Labels: Real Estate News, Sales
Dubai Properties to lease commercial, residential and retail units
Saturday, February 16, 2008
Dubai Properties, the developer owned by Dubai government, have announced their plans to launch about 5000 commercial, residential and retail units from a vast range of projects for leasing this year.
Apart from this, Dubai Properties will open about 100 outlets at 'The Walk' in Jumeirah Beach Residence by April, including Mothercare, Fat Face, Starbucks, Subway, Boots, Damas, Giordano, Bata, Tips & Toes, and Al Rasasi. An additional 300 outlets will be opened by June, says a company statement.
The Chief Executive, Mohammad Bin Braik, said "Apart from developing unique communities, the Dubai Properties remains committed in ensuring the timely release of its completed units. Following the huge success last year, we look forward to a year of massive business expansion and project handovers."
He continued that, the commercial and residential units, and the launch of other new projects, will meet the increasing demand of the emirate. In the meanwhile, DP will lease about 2568 units out of the 2611 units, available in various areas in Dubai, including, Cordoba Villas, JBR, Dubai HealthCare City, Al Quoz Community, Housing and DP staff accommodation.
In 2007, the jumeirah Beach Residence was the first freehold project to be completed, when about 6500 apartments across 36 residential towers, were delivered, housing more than 2000 families.
The year 2008 will be another milestone for Dubai Properties, with 5028 flats, and villas, being added to its leasing portfolio in Mirdif areas, and additional units in the Office Park Building, Executive Towers, and Al Quoz Community Housing. With this, the total number of units for leasing at Dubai Properties will touch 7600 in number.
Social BookmarkingApart from this, Dubai Properties will open about 100 outlets at 'The Walk' in Jumeirah Beach Residence by April, including Mothercare, Fat Face, Starbucks, Subway, Boots, Damas, Giordano, Bata, Tips & Toes, and Al Rasasi. An additional 300 outlets will be opened by June, says a company statement.
The Chief Executive, Mohammad Bin Braik, said "Apart from developing unique communities, the Dubai Properties remains committed in ensuring the timely release of its completed units. Following the huge success last year, we look forward to a year of massive business expansion and project handovers."
He continued that, the commercial and residential units, and the launch of other new projects, will meet the increasing demand of the emirate. In the meanwhile, DP will lease about 2568 units out of the 2611 units, available in various areas in Dubai, including, Cordoba Villas, JBR, Dubai HealthCare City, Al Quoz Community, Housing and DP staff accommodation.
In 2007, the jumeirah Beach Residence was the first freehold project to be completed, when about 6500 apartments across 36 residential towers, were delivered, housing more than 2000 families.
The year 2008 will be another milestone for Dubai Properties, with 5028 flats, and villas, being added to its leasing portfolio in Mirdif areas, and additional units in the Office Park Building, Executive Towers, and Al Quoz Community Housing. With this, the total number of units for leasing at Dubai Properties will touch 7600 in number.
Labels: Dubai Real Estate, Real Estate News
Luxury Villas, much in demand in Dubai
Sunday, February 10, 2008
The exciting response for Polo Homes developed by Emaar Properties, one again strongly highlights the need for luxury lifestyles and exclusive living in Dubai.
Villas being more sought-after, the elite Polo Homes, recorded unprecedented home-owner interest, the company mentioned in their statement.
Located within the Arabian Ranches, the Polo Homes, which are just 71 in number, is one of the most luxurious residential communities, ever launched by Emaar. It is a true reflection of the vast range of home options that the company offers to satisfy customer requirements. The owners of Polo Homes get to enjoy various membership privileges at the Dubai Polo and Equestrian Club, inclusive of access to modern clubhouse with specialty restaurants and spa, international equestrian events, an array of leisure and recreational facilities, and two polo fields.
The Sales Director of Emaar, Saif Al Mansoori says "Villas sell like hot cakes in Dubai, and the overwhelming customer response for Polo Homes, highlights the demand for exclusive homes with distinctive lifestyles. Polo Homes signify Emaar's competency to deliver fresh perspective to property development. The development has been created focusing on the requirements of residents, who enjoy being linked to the current equestrian-related events at their doorstep."
Apart from the leisure facilities at the Equestrian Club, the residents also get easy access to the Arabian Ranches Golf Course, schools, retail outlets, children play areas, and health and fitness amenities, located in close proximity within the Arabian Ranches development.
The two-storey villas of the Polo Homes remain detached, and comprise five to six bedrooms that reflect Andalusian architecture with every minute detail being taken care off. The villas possess spacious central courtyards, terracotta roof tiles and are spacious enough for unique and inspirational landscaping opportunities.
Polo Homes can be accessed from three ring roads that lead to Sharjah and Abu Dhabi. It is located in close proximity to the main centers of Dubai, including, the Dubai Internet City, Dubai Media City, and the Jebel Ali Free Zone.
Social BookmarkingVillas being more sought-after, the elite Polo Homes, recorded unprecedented home-owner interest, the company mentioned in their statement.
Located within the Arabian Ranches, the Polo Homes, which are just 71 in number, is one of the most luxurious residential communities, ever launched by Emaar. It is a true reflection of the vast range of home options that the company offers to satisfy customer requirements. The owners of Polo Homes get to enjoy various membership privileges at the Dubai Polo and Equestrian Club, inclusive of access to modern clubhouse with specialty restaurants and spa, international equestrian events, an array of leisure and recreational facilities, and two polo fields.
The Sales Director of Emaar, Saif Al Mansoori says "Villas sell like hot cakes in Dubai, and the overwhelming customer response for Polo Homes, highlights the demand for exclusive homes with distinctive lifestyles. Polo Homes signify Emaar's competency to deliver fresh perspective to property development. The development has been created focusing on the requirements of residents, who enjoy being linked to the current equestrian-related events at their doorstep."
Apart from the leisure facilities at the Equestrian Club, the residents also get easy access to the Arabian Ranches Golf Course, schools, retail outlets, children play areas, and health and fitness amenities, located in close proximity within the Arabian Ranches development.
The two-storey villas of the Polo Homes remain detached, and comprise five to six bedrooms that reflect Andalusian architecture with every minute detail being taken care off. The villas possess spacious central courtyards, terracotta roof tiles and are spacious enough for unique and inspirational landscaping opportunities.
Polo Homes can be accessed from three ring roads that lead to Sharjah and Abu Dhabi. It is located in close proximity to the main centers of Dubai, including, the Dubai Internet City, Dubai Media City, and the Jebel Ali Free Zone.
Labels: Emaar, Luxury Homes, Real Estate News, Villa Projects
Amlak's investment portfolio exceeds Dh.4.5bn
Wednesday, February 06, 2008
One of the leading home financiers in Dubai, Amlak Finance, revealed that its real estate investment portfolio has grown by more than Dh.4.5bn, following the six million square feet of land acquisition from the Dubai Government.
This newly acquired land, with a gross floor area of 8.5million square feet, is located at Al Warqa on the Emirates Road, and will be developed as a multi-purpose development, which would further strengthen Amlak's position as the lead real estate finance and investment company.
The new community in Al Warqa, namely Warqa Heights will have the capacity to house 40,000 people and comprise commercial, residential and retail space. The master-plan is currently finalzed by Tamdeen and Amlak, and the plots will be handed over to developers and investors later in the year.
Amlak focuses on acquiring various mixed-use properties, both commercial and residential. Amlak had announced a net profit of 758% this year, towards end of last year. Amlak currently has its operations in Saudi Arabia, Egypt, Jordan, Qatar, and is considering moving into Bahrain.
Social BookmarkingThis newly acquired land, with a gross floor area of 8.5million square feet, is located at Al Warqa on the Emirates Road, and will be developed as a multi-purpose development, which would further strengthen Amlak's position as the lead real estate finance and investment company.The new community in Al Warqa, namely Warqa Heights will have the capacity to house 40,000 people and comprise commercial, residential and retail space. The master-plan is currently finalzed by Tamdeen and Amlak, and the plots will be handed over to developers and investors later in the year.
Amlak focuses on acquiring various mixed-use properties, both commercial and residential. Amlak had announced a net profit of 758% this year, towards end of last year. Amlak currently has its operations in Saudi Arabia, Egypt, Jordan, Qatar, and is considering moving into Bahrain.
Labels: Mortgages, Real Estate News
DMCC completes delivery of Almas Tower offices
Saturday, January 12, 2008
Dubai Multi Commodities Center (DMCC) has completed the delivery of offices in the Almas Tower to its diamond sector members. This move was initiated to establish a diamond industry cluster in Dubai.The Almas Tower is DMCC's flagship tower, located within the Jumeirah Lakes Towers development, built to cater to the particular needs of the diamond industry.
During a ceremony held yesterday at Monarch Hotel in Dubai, the keys were handed over to member companies, who are to occupy the 3-20 of Almas Tower. It is up to the clients now, to complete their individual fit outs prior to occupying their new offices.
The Almas Tower marks a major step forward towards realizing the objectives of DMCC to establish a dedicated market place, providing industry-specific market infrastructure, and a range of amenities for diamond trade in Dubai. The Almas Tower will offer an entire range of diamond trade related facilities, and will house the Dubai Diamond Exchange, the one and only diamond exchange in the region, said Ahmed bin Sulayem, the DMCC Executive Chairman.
The remaining phases of the tower will be handed over during the next couple of months.
Labels: Jumeirah-Lake-Towers, Office Space, Real Estate News
Abu Dhabi to showcase the unique concept of Building for Today
Friday, January 11, 2008
"Building for Today", a conceptual design for a skyscraper, which can do "everything that a tree can do, except replicate" will be presented by a design visionary at the Abu Dhabi World Future Energy Summit, to be held in Abu Dhabi next month.William McDonough, was commissioned by Fortune magazine, to come up with a design for skyscraper office tower, which would bring about a 100 percent impact on people and place. Eversince McDonough and his team embarked on the project, they have been approached by numerous companies interested in turning his idea into reality.
Speaking during an interview, McDonough said "We actually came up with 'a building for the present', something that has been possible today, which incorporates the idea of building like a tree - A building that receives energy from sun, grows food, builds soil, purifies water, provides habitat for hundreds of species, changes colors with seasons, and creates micro-climates. A building that does everything that a tree would do, except self-replicate."
McDonough will discuss the idea during the World Future Energy Summit, due to be held in Abu Dhabi between the 21st and 23rd of January, and he will be joined in Abu Dhabi by other prominent architects. This initiative emphasizes on education, research and investment in the future of energy and environmental sustainability.
Labels: Abu Dhabi, Consultancy, Real Estate News
RERA announces first list of Real Estate developers in Dubai
Thursday, January 03, 2008
Going by the Law No.9 of 2007, the Real Estate Regulatory Agency (RERA) has announced its first list of realty developers that includes more than 400 companies holding real estate developer license, thereby maintaining transparency in Dubai. However, it has been said that a few companies, which had earlier entered into a special one-to-one agreement, has been exempted from opening the project security accounts.
RERA usually grants permission to licensed companies and projects, for opening of project security accounts, according to special agreement. The investors have been warned against purchasing or investing on real estate companies that do not hold the necessary Agency license required by the real estate companies, for legal transactions.
The Chief Executive of RERA, Marwan bin Galita, has said that unlicensed companies would have major difficulties in marketing and selling their projects, through media outlets, once the list has been issued.
Social BookmarkingRERA usually grants permission to licensed companies and projects, for opening of project security accounts, according to special agreement. The investors have been warned against purchasing or investing on real estate companies that do not hold the necessary Agency license required by the real estate companies, for legal transactions.
The Chief Executive of RERA, Marwan bin Galita, has said that unlicensed companies would have major difficulties in marketing and selling their projects, through media outlets, once the list has been issued.
Labels: Dubai Real Estate, Real Estate News
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
GCC Realty prices expected to continue in the current pace
Wednesday, December 05, 2007
The real estate prices in Gulf Countries will continue to remain as in the present, due to land scarcity and fluidity caused by surging oil prices and mounting speculations, revealed a special report.
A weekly report by Al-Masar Group states that the inflation in building & construction sector in Gulf, has reached fresh levels through construction of 2837 projects, mostly in UAE, Saudi Arabia, at an estimated value of $2.4trillion.
A recent study by a Dubai-based Research Company, 'Proleads', states that the King Abdullah Economic City, is the largest project, currently in progress in the region, which is worth around $120billion.
Next in line, is the 'City of Silk' in Kuwait, costing about $86billion, followed by the Dubailand in UAE, which costs around $60billion.
However, the report depicted conflicting figures and statistics, depending on the size of planned or under-construction projects. Massive projects, which include industrial islands and skyscrapers, lie behind the growth of regional construction and building sector, and huge boom in the sector, has led to better maintenance services, facilitated construction, overhauled utility management and helped a high demand for the sector.
The size of utility management market in Gulf countries, except Saudi Arabia, touched Dh.17.72bn during 2006, and is expected to grow up by 15.3 percent by 2012, stated the report.
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A weekly report by Al-Masar Group states that the inflation in building & construction sector in Gulf, has reached fresh levels through construction of 2837 projects, mostly in UAE, Saudi Arabia, at an estimated value of $2.4trillion.A recent study by a Dubai-based Research Company, 'Proleads', states that the King Abdullah Economic City, is the largest project, currently in progress in the region, which is worth around $120billion.
Next in line, is the 'City of Silk' in Kuwait, costing about $86billion, followed by the Dubailand in UAE, which costs around $60billion.
However, the report depicted conflicting figures and statistics, depending on the size of planned or under-construction projects. Massive projects, which include industrial islands and skyscrapers, lie behind the growth of regional construction and building sector, and huge boom in the sector, has led to better maintenance services, facilitated construction, overhauled utility management and helped a high demand for the sector.
The size of utility management market in Gulf countries, except Saudi Arabia, touched Dh.17.72bn during 2006, and is expected to grow up by 15.3 percent by 2012, stated the report.
Labels: Market Trends, Property Prices, Real Estate News
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
KM Properties signs deal with Amlak Finance
Thursday, November 15, 2007
KM Properties has entered into a deal with Amlak Finance, to provide its investors and home owner's the option of offering mortgages for 85% of their properties.
KM Properties had earlier entered into financing deals with National Bank of Dubai (NBD). The finance options are now made available for the new launch by KM Properties, the TAMANI Arts Offices development at Business Bay in Dubai.
TAMANI Arts Offices is an iconic mixed-use development complex in Business Bay, comprising 20 storey tower near Burj Dubai, with 32% of tower's units sold at the show.
Another recent launch by KM Properties, the Artisan Cluster in Business Bay, worth Dh.1.3bn, announced during the Cityscape Dubai 2007 exhibition, has earned 111% capital gain.
The Executive Director and Co-Founder of KM Properties, Khulood Abdulla Al Rostamani, has announced that the company is offering further incentives to those investors who reserve units during the first phase of public sale, and these incentives will be compounded by the company's easy financing options, provided by NBD and Amlak.
Social BookmarkingKM Properties had earlier entered into financing deals with National Bank of Dubai (NBD). The finance options are now made available for the new launch by KM Properties, the TAMANI Arts Offices development at Business Bay in Dubai.TAMANI Arts Offices is an iconic mixed-use development complex in Business Bay, comprising 20 storey tower near Burj Dubai, with 32% of tower's units sold at the show.
Another recent launch by KM Properties, the Artisan Cluster in Business Bay, worth Dh.1.3bn, announced during the Cityscape Dubai 2007 exhibition, has earned 111% capital gain.
The Executive Director and Co-Founder of KM Properties, Khulood Abdulla Al Rostamani, has announced that the company is offering further incentives to those investors who reserve units during the first phase of public sale, and these incentives will be compounded by the company's easy financing options, provided by NBD and Amlak.
Labels: Mortgages, Real Estate News
TAMANI Art Offices undergoes public launch at Artisan Cluster, Business Bay
Thursday, November 08, 2007
The latest luxury realty development by KM Properties, the real estate development arm of KM Holdings, the TAMANI Art Offices, underwent public launch at the Artisan Cluster in Business Bay, Dubai.
TAMANI Arts Offices is an iconic mixed-use realty development complex, comprising a 20 storey tower. About 32 percent of the project was already sold to investors during its pre-launch at the Cityscape, Dubai.
The twenty storey glass and steel tower with latest cutting-edge technology will make a flawless business platform and grow to be the business epicenter of the prestigious Business Bay development in Dubai. Strategically located in the Artisan Cluster in Business Bay, the TAMANI Arts Offices will offer convenient and easy access to the most notable recreational and landmark destinations, including Dubai Mall, Old Town, Burj Dubai, and the Sheikh Zayed Road.
Spreading across two million square feet in area, the development comprises clusters of iconic towers which include residential buildings, commercial towers and hotels, designed by renowned design engineers and architects of Terry Farrel and Partners, the renowned designers behind the Greenwich Peninsula in London.
TAMANI Arts Offices will provide the best boutique offices, a grand reception and lobby lounge, spacious retail outlets, on-site art museums, hi-tech business offices and IT services, including IT infrastructure security and hi-speed internet access. The TAMANI owners and tenants will also be benefited by the exclusive facility management services, which include 24-hour concierge and valet, efficient housekeeping, on-call maintenance, and engineering services, access to meeting rooms and business centers, and banqueting and catering services on request.
KM Properties has come forward with Escrow facilities by joining hands with National Bank of Dubai, and has also entered into agreements with Amlak Financing, which will offer mortgages for about 85% of the purchase price.
Social BookmarkingTAMANI Arts Offices is an iconic mixed-use realty development complex, comprising a 20 storey tower. About 32 percent of the project was already sold to investors during its pre-launch at the Cityscape, Dubai.
The twenty storey glass and steel tower with latest cutting-edge technology will make a flawless business platform and grow to be the business epicenter of the prestigious Business Bay development in Dubai. Strategically located in the Artisan Cluster in Business Bay, the TAMANI Arts Offices will offer convenient and easy access to the most notable recreational and landmark destinations, including Dubai Mall, Old Town, Burj Dubai, and the Sheikh Zayed Road.
Spreading across two million square feet in area, the development comprises clusters of iconic towers which include residential buildings, commercial towers and hotels, designed by renowned design engineers and architects of Terry Farrel and Partners, the renowned designers behind the Greenwich Peninsula in London.
TAMANI Arts Offices will provide the best boutique offices, a grand reception and lobby lounge, spacious retail outlets, on-site art museums, hi-tech business offices and IT services, including IT infrastructure security and hi-speed internet access. The TAMANI owners and tenants will also be benefited by the exclusive facility management services, which include 24-hour concierge and valet, efficient housekeeping, on-call maintenance, and engineering services, access to meeting rooms and business centers, and banqueting and catering services on request.
KM Properties has come forward with Escrow facilities by joining hands with National Bank of Dubai, and has also entered into agreements with Amlak Financing, which will offer mortgages for about 85% of the purchase price.
Labels: Business Bay, Office Space, Real Estate News