Dubai Real Estate News
UAE Property Market Trends and Reviews

"; Villas in The Meadows, Jumeirah Islands and Arabian Ranches have witnessed increased sales transactions during the past one month. Among apartment buildings, Jumeirah Beach Residence (JBR), Dubai Marina, Jumeirah Lake Towers (JLT) and Burj Dubai have recorded maximum number of sales transactions.

The Chief Executive of Gowealthy, Peter Penhall, said that although the Meadows, Jumeirah Islands and Arabian Ranches recorded highest transactions among villas, from the apartments perspective, Dubai Marina, JBR and JLT recorded highest transactions.

Transactions increased by 20 percent in November from the October figures.

According to Vineet Kumar, Head of Sales, Asteco, leading property management Company, the top three residential areas that saw maximum transactions during the month of November for apartment sales are The Palm Jumeirah, Downtown Burj Dubai, and Dubai Marina. As for villa sales in November, the top locations were The Emirates Living Area, Arabian Ranches and The Green Community.

According to Director-Residential Sales and Leasing, Liz O'Connor, considering from a rental perspective, Emirates Living (Springs, Meadows, JLT, Discovery Gardens, Jumeirah Village), Marina (JBR Marina), Dubai Land (Motor City, Arabian Ranches, Sports City) have recorded maximum transactions.

According to Better Homes, the sales were about 40 while the leases were about 250 in number.

According to Mohanad Alwadiya, Managing Director, Harbour Real Estate, Emirates Hills Third and Palm Jumeirah are the locations with maximum transactions.

According to Penhall, the majority of investors in these localities are South Asians (Indians, followed by Pakistanis), while the GCC nationals form the next largest, followed by South East Asians and Chinese.

Majority of them were end-users and finance buyers. There has not been much change in prices during the past three months. Prices have stabilized in certain areas, and there are well-priced properties in all areas of Dubai, Penhall said.

Labels: Market Trends, Sales

"; Emaar Properties PJSC, the leading global property developer has come out with a special Ramadan package of competitively priced apartments with flexi-purchase options and unique benefits, including upto one year waivers on maintenance fees for developments in the prestigious Downtown Burj Dubai.

The potential customers get to benefit from the easy mortgages of up to Dh.2.5million on a range of studios to triple bedroom apartments in the most sought-after destinations in the city.

This sales initiative for completed residential units in The Old Town Island, Burj Views, and South Ridge and The Residences, will all be established communities with an array of lifestyle amenities.

Several units that are unique and new to the market, are on the offer, with almost all of them having an easy access to various attractions in the city, including The Dubai Mall, the world's largest shopping and entertainment destination, and the world’s tallest performing fountain, The Dubai Fountain. They are also in proximity to the Burj Dubai, the world's tallest building, and the Emaar Boulevard, a vibrant leisure and cultural avenue.

Emaar has also announced special attractive offer for Rent to Own customers, who convert to ownership towards end of September. This scheme was unveiled by the company last year, which offers customers with a chance to rent a home for a period of one year, and then apply their rent to purchase of their home.

The mortgages consultants of the company, Emaar Square Sales Center are offering free consultancy to clients interested on the offer.

The homes vary in floor plans and sizes, offering wonderful views of Downtown Burj Dubai's lifestyle attractions. While The Old Town and Old Town Island offer traditional Arabian architecture in a modern setting with low-rise homes with courtyards, the South Ridge, The Residences and Burj Views, are modern high-rises with large terraces and amenities, including health and fitness and swimming pools.

Potential customers visit the Emaar Square Sales Center for details.

Labels: Downtown, Emaar, Sales

"; Property sales in Dubai dropped by more than 40 percent during first half of this year, compared to that registered during the same period last year, reports REIDIN.com, the firm that tracks property with the data available from Dubai Land Department.

A total of 1724 sales transactions were registered during the first half of the year, marking a 42.6 percent decline over the same period last year, reports REIDIN.com.

Although, the prices have begun stabilizing in Dubai during the past two months, according to analysts and property brokers, the Deutsche Bank reports that residential prices increased by 6.5 percent, touching Dh.1285 per square foot in 13 locations around Dubai last month, compared to May.

The steep decline in property transactions suggests another slow quarter for developers, with many working to create new business strategies and change the plan of their projects to survive the changed economic environment, analysts said.

The decline in prices is more than 50 percent in few areas, which has taken its toll on the value of transactions. The data shows that the total value fell by 39.9 percent, touching Dh.2.02billion.

An Analyst at Nomura Securities, Chet Riley, has revealed that earnings across UAE real estate board are likely to remain weak for the second quarter.

There are signs of stability in the underlying market, but the second half of the year will witness the 'crunch' when several developments are due. If developers face delay, they are not likely to see sales revenues, and this may lead to further downgrades, he said.

Currently, analysts are closely monitoring Emaar Properties and Union Properties, as they have reduced their contact with investors and are passing through crucial phases. Emaar has announced merger talks, with three real estate companies under Dubai Holding. Union Properties, on the other hand, have recently undergone a management overhaul, and is facing difficulty in filling the funding void.

An Analyst at Deutsche Bank said that the price increases are the result of easing pressures from distress sales and the potential sellers who are remaining are now unwilling to sell at current rates.

The analyst predicted further fall in prices to the tune of 15 to 20 percent by the end of the year.

Labels: Sales

"; Four multi-million dirham properties in Dubai, which were recently completed, failed to sell, which further indicates that UAE's appetite for new homes is still struggling.

The auction on Tuesday night saw only nine people come forward for registration of three villas in Arabian Ranches, a penthouse in Jumeirah Beach Residence. Of these, only three actually entered bids, and these failed to meet the reserve prices of properties.

The first public auction at the Al Murooj Rotana Hotel for Madania Real Estate attracted a crowd of more than 100. However, most of the crowd gathered mainly to gauge the market condition, rather than to invest.

The Chief Executive of Madania, Raymond Kuceli, said the gap between the expectations of buyers and sellers was huge, but the future looks positive.

The investors are of the opinion that the property being sold at an auction is a distress sale, but the actual reason for such an auction is that they require a price that is more in line with their needs.

Developers are trying to gather information about people who registered for auction, but, it will now be used to try and generate sale privately. Although, Dubai market has seen property auctions even before, they have never been the market trend.

Labels: Market Trends, Sales

"; The largest home-lender by volume, Tamweel, is also the first to sell re-possessed properties on completion of legal formalities.

Due to legal uncertainties, mortgage lenders were hesitant to hold forced sales or auctions during the past, as the system has never been tested. Instead, the lenders have negotiated with distressed mortgage customers to try and recover some capital to avoid costly legal proceedings.
According to Mohammed Sultan Thani, the Assistant Director General at Dubai Land Department, no repossessions have been completed by UAE banks, which would oversee the sale of any re-possessed properties under the Mortgage 2008 Law. The banks are seeking to resolve things on their own.

The Chief Executive of Tamweel, Wasim Safi, said that Tamweel would go ahead with the next step of disposal of properties, after completing the legal procedures of foreclosure. In fact, Tamweel has already begun foreclosure process for few customers, Saifi added.

He agreed that a growing number of mortgage customers were behind with payments. Amlak and Tamweel account for more than half of the mortgage market in the country, worth about Dh.35bn. The rest Dh.25bn is divided among Abu Dhabi Commercial Bank, HSBC, Emirates NBD and Standard Chartered and several smaller players.

Both Amlak and Tamweel had stopped new mortgage lending in November, when trading in their stocks were suspended. They will shortly receive approval to restructure and secure their financing within a few weeks, revealed Sheikh Khaled bin Zayed, Chairman of Tamweel.

Labels: Real Estate News, Sales, Tamweel

"; Major property developer in Abu Dhabi has termed the off-plan sales model as "defunct", which implies that the companies will have to push in more money during the early stages of projects, in order to gain confidence of the buyers.

This off-plan model has triggered-off the construction and property prices boom in the Emirates, as Dubai was the first to begin selling off-plan homes about a decade ago. However, the buying interest has now dried up, due to lack of mortgage and the confidence levels have dropped, affecting several projects.

For instance, Capitala, a joint-venture between CapitaLand of Singapore and Mubadala Real Estate and Hospitality, is also the developer of 147 hectare site on the Abu Dhabi Island. The company is considering a plan to make most of buyers' payments that are due, after the completion date.

The Deputy Chief Executive of Capitala, Peter Wilding, said that the sale of off-plan model is basically defunct, and that the company is yet to make any official changes, but it is currently being reviewed to change the payment plans.

The first project of Capitala, Arzanah, is a development which focuses on health and active lifestyle. The project includes 9000 homes, a mall, three medical centers, and 7km bike tracks and the existing Sheikh Zayed Stadium and other recreational amenities.

Although Capitala has sold 86 percent of its apartments during its first phase, including 14 villas, the challenge remains as to how to find buyers for unsold units, while also trying to maintain the payment schedule of earlier buyers.

Wilding revealed that the company has planned to begin offering homes that are inline with market demand. For instance, the next phases are more affordable set of buildings, called The Lofts'

Changing payment plan to have the most of money due after construction will help in convincing buyers to make investment, Wilding said. After discussing with the Urban Planning Council, some of the heights aspects of the buildings have been altered to prevent them from blocking views of the Sheikh Zayed Mosque and Sheikh Zayed Stadium.

In short, developers across the country are trying to put up with the fewer sales and reduced cash flow affecting their operations. This impact has even touched the contractors.

Labels: Off-plan, Sales

"; In a bid to keep the real estate industry going, the real estate brokers and developers are said to have begun offering several good payment options, so as to convince end-users into the market.

According to the Chief Executive of Dynasty Zarooni, Kabir Mulchandani, the current short-term problem needs to be tackled, as several buyers do not have access to mortgage or loans. Hence, the company has launched a monthly payment scheme, so that customers could enter the market in a bigger way. The company has also lowered their prices of both freehold and rental properties. Several of their properties have been placed into the rental market from the freehold sales.

"The flexi-payment scheme will help release the stocks, which will get utilized by end-users in the market, as there is a high demand for new supplies in the market," Mulchandani said.

Peter Penhall, the Chief Executive of Gowealthy.com, an online property portal, said that the market is now correcting itself and there is a liquidity crunch, while the banks are also tightening lending measures. The company has launched a sales campaign for Axis Residences at Dubai Silicon Oasis by GGICO. About 657 units were released and the buyers were allowed to make payments in 100 monthly installments, with three percent down-payment while registering for the property.

Emaar Properties, last month, launched the 'To Own' schemes which were meant to make property purchases much easier for customers. The programmes, titled "Plan to Own" and "Rent to Own" were aimed to strengthen the property sector by enabling easier purchases and making property purchase more affordable for customers.

The Executive Chairman of Omniyat Properties, Mehdi Amjad, also agreed that with mortgages getting harder to obtain these days, his company is also considering new payment plans to motivate customers. Earlier, Omniyat had launched a 50-50 payment plan, wherein 50 percent payment was paid during construction and the rest 50 percent was paid upon completion of the project. The company agrees that a similar payment program would soon be launched.

According to officials, smart marketing techniques, attractive payment schemes, a good price, and a good product, could all help developers to ride out of the current real estate slump.

Labels: Emaar, Market Trends, Omniyat, Sales

"; Leading developers in Dubai are putting on hold the sales of their properties, until the situation improves in the real estate market of the emirate.

Nakheel's Palm Jebel Ali- Project Director, Ali Mansour, said that they plan to reassess sales strategies in light of the prevailing market conditions. "We are reviewing everything now, and have no new plans for the near future," said Ali Mansour.

Palm Jebel Ali is the second project of the Palm trilogy developed by Nakheel, located in the center of Jebel Ali, close to Al Maktoum International Airport and the Dubai Waterfront development. Featuring signature villas, garden villas, luxury apartments, town homes and penthouses, it is expected to house a population of 300,000.

Limitless has also not launched the sales of its Arabian Canal project. The Project Director for the Arabian Canal, Rainelan Raine, said that the company is watching the market carefully, and will judge the right time to commence sales.

"There is a huge interest in the Arabian Canal project but, the sales will have to wait," Raine said. Arabian Canals is one of the longest man-made canals, the excavation of which, will begin near Dubai Marina, and will flow inland around the Al Maktoum International Airport. Financing for the first stage of the project has already been completed, the developer said.

The Dubai-based real estate developer, Rufi Real Estate too, said that it is reviewing its strategies and has postponed the launch of few of its realty projects until the second quarter of 2009.

The developer was due to launch two of its residential towers in Meydaan and The World, where, three islands had been purchased. But, it has deferred all that for now. Rufi expressed hope about real estate prices picking up towards middle of 2009 in the emirate.

Labels: Latest News, Sales

"; Dubai Investments Real Estate Company (DIREC), one of the largest investment companies listed in the UAE Stock Exchange, in partnership with Gowealthy.com, the leading global property lifestyle brand in the region, have announced sales of the latest phase of the Ritaj Community development.

The construction of this unique five-storey project is progressing as scheduled towards its completion and handover to purchasers during June 2009, the official spokesman revealed.
The project comprising 360 studio units would be just right for small families and local companies seeking alternatives to rising rents and operating costs. The prices of apartments begin with Dh.498,000 with a down payment of just2.5 percent.

Ritaj is targeted towards end-users seeking to convert their rent payments into ownership of an appreciating asset and corporations seeking to convert their HRA (Housing Rent Allowance) into a capital asset.

The payment plan permits a payment of just 25 percent to be paid during construction period and the rest 75 percent to be paid at the time of handover, funded through readily available mortgage facility.

A sprawling service wing facility at the ground floor is one of the most enviable features of the development, which the residents are bound to enjoy, in addition to common amenities such as the gymnasium and swimming pool.

The project, along with community as a whole, has the advantage of being in close proximity to the amenities of Green Community, including its shopping arcade, restaurants, supermarket, and The Marriott Courtyard hotel.

Designed by Al Jabal Engineering Consultants, the residents of Ritaj get to enjoy necessary amenities as it forms a part of a fully equipped community center planned by DIRC, and hence can gain access to cafes, restaurants, supermarket, shops, pharmacy, Mosque, clinic, games room and theatre-style movie room.

The Center would be the focal point for residents offering essential services during the day, followed by relaxation and entertainment services offered in the evening.

Labels: Community, Residential, Sales

"; For the first time, Habtoor Group has announced sale of its 24 freehold apartments of 'Harbour Island Resort & Spa' development on the Crescent, at the Palm Jumeirah.

The announcement was made by Mohammed K. Al Habtoor, the Chief Executive of the group.
The project, currently estimated to be worth of Dh1.2billion, may go up further, depending on prices of materials. The apartments of this exclusive project, has all the amenities of a hotel. Depending on the demand for the project, more units will be offered, Al Habtoor said.

The Habtoor Island will house 6-7 restaurants, out of which one of the biggest will be managed by a UK firm. The Chairman of the group, Khalaf Al Habtoor said that the company aims to offer a property that would gain recognition as one of the finest developments in the plant. The company is also aiming for LEED Gold Rating certification for its environmental friendliness.

"The fact that we are committed to deliver an unparalleled lifestyle is evident now, as we have allocated 70 percent of the development towards gardens and water features," Al Habtoor pointed out.

Labels: Environment-friendly, Freehold Property, Palm Jumeirah, Sales

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Labels: Dubai Silicon Oasis, Sales

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Labels: Abu Dhabi, Al Reem Island, Sales

"; Great Properties, the UAE-based real estate agency, has announced that its share of 'Al Helio Downtown' development in Ajman, has been sold out only two months after its launch.

The real estate sales and marketing agency has been given exclusive rights to sell the plots at Al Helio Downtown, thereby making it the second project promoted by Great Properties and sold on behalf of Al Rashed Real Estate.

The Sales Director for Great Properties, Mohammed Mirza, said "Savvy investors have realized that Ajman is the next great investment opportunity in the UAE. The attractive terms of sale offered by Great Properties and the unparalleled value for money offered on investments in Ajman is one of the main reasons for properties being snapped away so quickly."

About 32 commercial and residential plots have been offered by Great Properties in the development, with a 10 percent down payment option and a special interest-free introductory offer.

The plots were available for Dh.85 per square foot, in comparison to Dh.350 per square foot for similar developments in Dubai. Investors were also given contractual rights to resell the property after making down payment.

Al Helio Downtown is a mixed-use, self-sustained community, spreading across 115 acres. It is just five minutes away from Ajman Downtown development, which will reconfigure the main business in the emirate's business and residential districts. The development will include a nursery, schools, gardens, lakes and health care facilities, mosque and a shopping district.

The Sharjah International Airport is just seven minutes away, and Dubai is just 20 minutes away from Ajman.

Great Properties is managing Dh.2bn worth of projects in Ajman, out of a total six major investment projects worth Dh.40.8bn in Ajman. This makes Great Properties one of the leading real estate agencies in the booming emirate.

Labels: Ajman, Investment Property, Sales

"; Emaar Properties has launched the eco-friendly 'Mushrif Heights', an integrated community emphasizing on sustainable development features. The project, worth Dh.12bn, is the latest addition to rich property portfolio of Emaar in Dubai, which includes several prestigious projects such as the Arabian Ranches, Downtown Burj Dubai, Warsan Estate and Dubai Marina.

The first phase of the project, which is the sale of Sidra town homes, will begin on 23rd August 2008.

Located near Al Awir, in close proximity to Mushrif Park, the Mushrif Heights has been designed on the premises of 'Living in Harmony' with nature. The location is ideal, as it permits easy access to Dubai’s business hubs, while also enjoying the serene atmosphere of quieter surroundings. Mushrif Heights enjoy easy road access from Emirates Road, Al Khail Road, and is just 15 minutes away from the Dubai International Airport.

Spreading across 44mn square feet, Mushrif Heights, will be built around green hills, and will be an integrated community comprising townhomes, villas and apartments that offer eco-friendly conscious features, forming a community that is in harmony with nature. Apart from the walkways, parks and landscaped gardens, the Mushrif Heights will include a range of amenities, such as town centers, schools, retail outlets, mosque and other leisure and recreational amenities.

A hill sanctuary offering spectacular views of pristine surroundings will be the central feature of the community, which would make it an ideal getaway from the regular hustle, bustle of the city life.

The Managing Director-UAE, Emaar Properties, Ahmad Al Matrooshi, said that being away from that hustle-bustle of the city, the Mushrif Heights will begin a new development dynamic for Dubai, while also energizing the Mushrif locality.

"All aspects of the project are in sync with overall development culture of forming integrated communities that caters to the lifestyle requirements of residents," he added.

The master-planning of Mushrif Heights is in progress, and this envisages the development of villa and townhome communities and low-rise towers with homes featuring Moorish-style architectural elements. Believed to be a 'sanctuary within a sanctuary', the master-plan focuses on retaining its natural surroundings, thereby offering residents an opportunity to participate towards preservation of natural flora and fauna.

The Sidra Townhomes within Mushrif Heights draws inspiration from Arabic heritage, laying emphasis on bright, spacious and welcoming living spaces. Complete with modern luxury finishes and fitting, the homes have spacious balconies that open to nature.

The homes vary from 2,325 to 3642 square feet of space, and includes single, double, triple and four bedrooms. Sidra Townhomes also include a garden of choice, courtyard and roof-decks.

Prospective purchasers and investors seeking to purchase Mushrif Heights can register online at www.emaar.com, from 10am on 20th August 2008. The sales for registered customers will take place on 23rd August 2008 between 9am to 6pm at the Asmaran Sales Center, Al Qudra, Dubai, and at the Abu Dhabi Sales Center of Emaar.

Emaar Properties is a pioneer in developing master-planned communities in Dubai, and has expanded to 36 markets globally. Mushrif Heights is a further reiteration of the company's commitment to Dubai, the largest contributor to Emaar's revenues.

Labels: Community, eco-friendly, Emaar, Sales, Townhouses

"; The Sunland group has successfully sold about 86 percent of their 'Nur' residences, within two months of launch. This implies that about 165 out of the 191 single and double bedroom apartments, worth Dh.592.88mn have been successfully sold by the group.

The Arabic translation of 'Nur' meaning 'light' is a 27 storey boutique residential tower located within the Culture Village, facing the Gardens of Goodwill. Launched on 10th June 2008, only 26 of the apartments remain for sale.

The apartments of Nur range from 767 square feet for a single bedroom apartment, to 1412 square feet for a double bedroom, with additional space for private balconies. The development has two penthouses, split over level 26 and 27 of the tower.

The residents can enjoy exclusive amenities located on the fourth floor, including an outdoor private swimming pool, which stretches across 20 meters, landscaped outdoor gymnasium and terrace. The prices at Nur begin with Dh.2mn for a fully furnished single bedroom apartment.

The Managing Director and Founder of Sunland Group, Suhail Abedian, pointed out that the demand for the Nur residences have been quite strong, ever-since the talk about the development began during its inception stages. A lot of young professionals and families have shown interest in the development with local and Middle Eastern investors.

The development, worth Dh.725mn, is the third scheme in Dubai by the Sunland Group, and is a proof of the growing success of the developer's expansion within the UAE, owning a local portfolio of more than Dh.13bn.

The success of Nur, follows the earlier launches by the developer, such as the D1 and Palazzo Versace, both of which are also in Culture Village.

Labels: Apartments, Cultural-Village, Residential, Sales

"; Rakeen, the land developer and master planner of Ras Al Khaimah Government which adheres to environmental responsibility when planning and developing projects, has now announced the sales launch of the Bab Al Bahr Office Tower, one of the key projects within the Dh.1.2bn mixed-use resort development, Bab Al Bahr in Ras Al Khaimah.

The Bab Al Bahr Office Tower is the 'only' office and commercial building between the entrance of Ras Al Khaimah and the downtown Ras Al Khaimah City. The Bab Al Bahr Office Tower includes 108 offices for sale, located in the free zone area, open to all local and international investors.

Bab Al Bahr is the inaugural development project on Al Marjan Island. The man-made coral shaped island spreads across 4kms into Arabian Gulf. The island-inspired completely integrated community offers visitors and occupants extensive landscaping, exotic gardens and 500-meter long stretch of beach.

Bab Al Bahr Office Tower is a 2-storey office facility, spreading across a shopping complex of 19000 square meters. The tower provides a complete range of business and office amenities that offer wonderful views of the Gulf, apart from parking amenity for about 400 cars. The office storey also offers free zone trade licenses and easy access to a fully integrated development complex, including residential apartments and 320 room resort hotel. The shopping complex includes luxury retail stores, food court, cafes, family entertainment center, and four screen cinemas.

Rakeen has recently entered into marketing and sales initiatives for Bab al Bahr Tower, following recent commencement of construction, which has been progressing at a healthy pace. Construction work is currently in the piling stage, and the progress is well on schedule.

A Member of the Board at Rakeen, Wahid Attalla, said that the company hopes that the initial sales results of the tower would surpass the expectations of one and all, as the resort development has been so designed that it meets world-class amenities that cater to leisure, business, recreational and personal needs of clients.

Labels: Rakeen, Ras Al Khaima, Resorts, Sales

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Labels: Downtown, Sales

"; Al Qudra real estate has announced its third and final sales offer of the Shades project, the Lilac Tower, at the core of Shams Abu Dhabi, a project master-planned by Sorouh. The Shades project includes five towers-Amber, Lime, Lilac, Azure and Carmine.

Lilac overlooks the Central Park at Shams Abu Dhabi and has been designed to offer unparalleled luxury and comfort. This wonderful infrastructure has 50 Storeys to its credit, comprising studios, single and double bedroom apartments, complemented by a range of quality amenities.

Among the other amenities of the tower are a landscaped rooftop terrace, a business and day care center, fitness and entertainment areas, swimming pool, and ample underground spaces for parking.

The project is open for sale to both UAE nationals and expatriates during the two road shows to be held at the InterContinental Hotel in Abu Dhabi on Saturday, the 5th July, and at the Westin Dubai Mina Seyahi Beach Resort and Marina on Sunday, the 6th July.

Due for completion by 2011, the project offers residents a one-stop-shop intelligent home solution with air conditioning, entertainment and other appliances all under a single roof.

The Acting CEO of Al Qudra Real Estate, Claus Peter Rees, said Lilac Tower has been launched in June and is now looking to commence sales and is hoping for great success.

Rees disclosed that the project has been offered with flexible financing options that offer buyers the opportunity to purchase both floors and individual units under an attractive payment scheme with 30% of amount to be paid during construction period and rest 70% to be given on completion of construction.

Labels: Abu Dhabi, Al-Qudra, Sales, Sorouh

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Labels: Asmaran, Bawadi, Emaar, New Developments, Sales

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Labels: Abu Dhabi, Al Reem Island, Latest News, Sales

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Labels: Community, Downtown, Luxury Homes, Sales

"; Al Fara'a Properties, a flagship subsidiary of Al Fara'a Construction, Industrial and Property Group, has announced complete sales of the first phase of Dh.505mn 'Image Residences', within days after launch.

Being a luxury residential project, it generated interest from global and regional investors. The developer seeks to leverage the project's sales to further strengthen their expansion plans.

The success of the project has been attributed to its high quality and wide range of offerings, which include studio, single, double, and triple bedroom apartments and townhouses. Comprising 17 storey and 11 storey tower, the development boasts of smart home technology, apart from other amenities such as landscaped leisure deck on the podium, swimming pool, childrens pool, fully-equipped gym, and outdoor seating, and BBQ area.

The retail outlets on the groundfloor are also available for benefit of future residents. Image Residences are the perfect fit at the Downtown Jebel Ali development, which is a 200 hectare mixed-use urban community, stretching 11km across Sheikh Zayed Road and comprises three individual districts- The Trellis District, the Urban Center and Medina. The Medina District will be the ideal backdrop to Image Residences and other mid and low-rise residential neighborhoods.

Small cafes, courtyards, plazas and local shops actually accentuate the overall family-friendly environment of the district, that boasts of cobblestone streets and pathways which entice residents to walk around and experience the tranquility of new residential hub.

Labels: Latest News, Luxury Homes, Sales

"; Emaar Properties plans to unveil a series of exclusive signature residences in its well-known master planned communities on 10th May 2008. The special sale of premium residences within The Views, The Lakes, Dubai Marina and Downtown Burj Dubai will be open for a day, and will be allotted on a 'first-come, first-serve-basis, offering easy home finance options to several financial institutions.

Among the portfolio of homes for sale are the villas, apartments, and townhouses that are distinguished from each other by their architectural elegance, location, and easy access to amenities such as the Deema townhouses with terraces overlooking The Lakes, the Tanaro apartments at The Views that offer wonderful golf course views, and a group of apartments in Downtown Burj Dubai and Dubai Marina.

The Views and The Lakes, that form a part of Emirates Living, are a group of established communities by Emaar. The Deema townhouses in The Lakes are situated amidst placid lakes and are easily accessible to world-class golf courses. The tranquil parks and waterways add to the quality of living in the community. The Views offer spectacular views of the nearby golf course. The Tanaro is a residential tower that is highly in demand, due to its easy access to Emaar Business Park commercial building cluster.

The Downtown Burj Dubai is another mega-flagship project of Emaar, which anchors Burj Dubai, the tallest building in the world, and The Dubai Mall, the largest shopping and entertainment destination in the world, among many other attractions. The customers get to choose from a wide range of apartments ideally located in elegantly designed residential projects, with most homes offering views of Burj Dubai.

Dubai Marina is one of the first and largest waterfront projects in the region, offering Riviera-styled lifestyle against the backdrop of Marina, and the 11km stretch boardwalk, which includes a rich spread of retail outlets and restaurants. The residential projects by Emaar located on the waterfront location, offers wide array of amenities for residents.

Emaar's residential communities are one among the most desired properties in Dubai, and the sale is considered to be a good and unique opportunity for potential home-owners to be a part of the vibrant Emaar community.

Potential customers are welcome to visit the Downtown Living Sales Center and Abu Dhabi Sales Center on 10th May between 9am and 6pm, or call toll-free 800-EMAAR or log on to www.emaar.com for details.

Labels: Emaar, Latest News, Sales

"; The Phase II plots of Dubai World Central's 715-hectare Residential City will be launched on sale on 25th and 26th March at Hotel Grand Hyatt, Dubai.


The plots are expected to be sold out, generating a sale of Dh.6bn, according to Khalid Bin Harib, the CEO, Dubai World Central.

The estimates are based on the sales registration that took place at the International Property Show last month for 284 plots that range from 2000 to 12000 square meters in size.


The Phase two covers a total of 140 hectares, and is the largest among all the five phases of the DWC Residential City. The Residential City will eventually house 53,000 people across 18,000 units.

Land grading work for the phase 2 is complete, with 19 plots being allocated for mixed-use development, while nine plots are reserved for commercial and public amenities such as hotels, malls, schools, mosques, health centers, parks and fuel stations.

The Dubai World Central proposition of being close to workplace in an affordable housing is drawing considerable interest from potential buyers, reveals Khalid.

The land registrations during the past couple of months have grown beyond expectations with major regional property developers having expressed interest in providing affordable housing.
The Phase one sales was complete with 24 hours of launch, due to huge developer demand at the DWC Residential City.

The Residential City will have single to four bedroom apartments of various sizes, in five to ten storey buildings. The unique aspect of DWC Residential City being served by its own light rail, linked to the Dubai Metro, will provide easier transportation within the city and outwards to the existing Dubai City Center.

The Dubai World Center is a 140 square kilometer urban aviation community centered around the world's largest international airport, located 40 kilometers from the existing Dubai International Airport. The project is twice the size of Hong Kong Island.

Labels: Dubai-Residential-City, Latest News, Sales

"; 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.

Labels: Real Estate News, Sales

"; The real estate sales in Dubai during the week touched Dh.2.28bn, according to Dubai Land Department.

The property transactions including villa, land and apartment sales were high between 17th and 20th February 2008. The land sales, particularly, was the highest on 20th Feb, 2008. The total amount of transactions on 20th February, alone, touched Dh.1.13million.

The total value of land sales during the period was Dh.2.17 billion, while the apartments recorded a sale of Dh.92.2 millions, and villas recorded a sale of Dh.9.5 million.

Highest land sale was registered at Emirates Hills First (Dh. 380 million), followed by Al Hamriya (Dh.350 million).

The total value of mortgage sales during the 19th and 20th February was Dh.998.07 million

Labels: Dubai Real Estate, Latest News, Sales

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

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

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

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

Labels: land, Property-show, Sales

"; Al Madar's Scala and Siraj Towers have brought about robust sales for the company.
The 18 storey residential complex, Scala Tower, with 182 apartments, located at Business Bay, Dubai, has been completely sold out. On the other hand, the 30 storey residential complex, Siraj Tower, located at Arjan in dubailand, has been 50 percent sold out, revealed the property developer.

"Both the Towers have achieved enormous sales success, which far exceeds out expectations. We believe that this could be the fruitful result of our commitment to deliver on time, top-class properties, that are greatly appreciated by clients and investors. Also, Dubai's increasing reputation of being an attractive investment destination, has also been vital to the success of Al Madar," quoted the Group Managing Director, Haider Mashhadi.

Al Madar already has a range of exciting projects in pipeline for the current year, including Bellagio, an office tower at Liwan in Dubai, Coppet, and commercial facility at Arjan - Dubai, apart from purchase of various leading properties across major locations in Doha, GCC and Dubai. As a part of its expansion plans for the current year, Al Madar has also begun construction of two more office towers and a hotel in Doha, and has purchased a new plot in Lusail, and a comprehensive integrated development in Qatar where a 15-storey building is likely to be constructed by the company.

Labels: Business Bay, Residential, Sales

"; Empire International Investments, the real estate division of the multi-disciplinary Empire Group, has announced that about 160 units in their prestigious 'Empire Tower' development, has been sold out. The sales have remained good, despite the recent price hike of 12%.

The project, which is worth Dh.1.2 trillion or more, has about Dh.850million absorbed by the construction sector. The 57 storey residential tower, which was originally named as Waterfront Residence, has been designed by world renowned architects AEDAS.

Located within Shams Abu Dhabi, adjacent to Central Park and the future landmark Quad Building, the building comprises one, two, three and four bedroom apartments, which offer spectacular sea and Central Park views. Other features include swimming pool, sundeck, spa, gym, landscaped garden, underground secure parking and rooftop helipad.

During the past one year, the real estate sales in Abu Dhabi have increased steadily, and the demand for quality residential and commercial property in the city has been much in demand. This comes as good news to all potential investors' planning to invest in Abu Dhabi market.

The Empire Tower units will be sold during the International Real Estate and Investment Show, at stand B8, the ADNEC, from 30th January to 2nd February 2008.

Labels: Abu Dhabi, Residential, Sales

"; Mizin, a member of Tatweer, has announced that the low-rise community Remraam Phase 1, which was announced on 20th November 2007 has been sold completely.

The first phase of the project comprising low0rise Arabian themed buildings with seven storeys and 2090 units is the first of its kind in a large scale development that combines upscale living with value for money proposition.

The CEO of Mizin, Sami Al Hashimi, expressed his happiness over the fact that following the successful launch of Majan, Liwan and Arjan, now Remraam Phase 1 units has drawn lot of consumer interest and has been sold out completely, which indicates once again, the interest that the customers have placed in the company's developments.

The Mizin Phase 2 is expected to be launched during early 2008.

Labels: Community, Residential, Sales

"; The world's first purpose-built Maritime Center, and a member of Dubai World Group of Companies, the Dubai Maritime City has announced recent sale of its first phase plots of the massive commercial and residential districts of its Maritime Complex to contractors and developers.

The work on various commercial and residential projects within the city will begin in near future. The developers are required to obtain the 'Green Building Certificate' for their projects, as per the developmental policies and strict environmental standards of Dubai Maritime City.

The CEO of Dubai Maritime City, Amer Ali, said "The sales performance of the first phase of the project has surpassed expectations with tremendous response due to the huge project value in terms of excellence and creativity, as well as being the first of its kind in the world and in the region. "

He also expressed his pleasure over the steady economic potential of the project, which is sufficient proof of success of Maritime City.

Labels: Dubai Real Estate, Latest News, Sales

"; Emaar Properties, one of the largest real estate companies in the world, has announced that they are hosting a special sales roll-out on 17th November 2007, for its Platinum Collection, the high-end homes located in Downtown Burj Dubai. The show would be hosted at 'The Palace Hotel', in Old Town, Downtown Burj Dubai.

The Platinum Collection of homes that are chosen from various residential developments within the mega-development project, comprise a range of amenities, such as high-end retail outlets, health and fitness facilities, swimming pools and children's play areas.



The Sales Director of Emaar, Saif Al Mansoori, said that these homes are chosen due to their superior standards of product quality, and also represent the luxurious living in the Downtown Burj Dubai, which would attract numerous interested buyers who are eagerly seeking a unique home experience.

Various financial institutions are offering easy home finance options for these residences. Emaar's flagship real estate project, Downtown Burj Dubai, is a mixed-use residential and commercial community, which includes hotel, shopping, leisure and entertainment, surrounded by open green spaces, lakes and other water features.

Till date, numerous homes have been already handed over to customers, and three luxury hotels have already got functional within the Downtown development.

Labels: Downtown, Luxury Homes, Residential, Sales

"; A leading Dubai-based property developer, Memon Investments, has announced sale of all its units in its Champions Tower III, worth $39.5million.

The residential tower project, situated in Dubai Sports City, has generated huge buyer-interest from international and regional markets. According to Memon, the overwhelming success of the project is due to the extensive marketing campaigns held by the company throughout Europe, Asia and Middle East.

The hi-tech contemporary architectural design of the tower has also caught attention of the eye of the investors. The sixteen storey residential tower provides a choice of 256 elegant units comprising single bedroom, studios, and double bedroom apartments. The development also includes a communal swimming pool, health club, roof top juice bar, steam and sauna facilities, and separate gyms for men and women.

Spreading over a built-up area of 250,000 square feet, the tower includes three hi-speed elevators, covered parking on ground floor, apart from basement parking, 24 hours security, concierge and valet parking services and in-house maintenance team.
Located at a walking distance from the luxurious residential property are world-class academies, stadia, religious and healthcare facilities, religious facilities, and posh cafes and restaurants, and a shopping mall with a sports-theme.

Labels: Dubai Sports City, Residential, Sales

"; The total value of land transactions in Dubai touched Dh.10.22bn in October, according to Dubai Land Department.

Out of the total 395 cash sales that happened during the month, these transactions were worth Dh.6.03bn, out of which Dh.3.49bn were from mortgage trasactions, and Dh.693.49million were from donation of land and property.

The Land Department in Dubai, registered 395 transactions during the month of October, across 61 districts in Dubai. The total area sold was about 9.24 million square feet. About 354 transactions involved the sale of developed or built land.

Al Jadaf recorded the top selling district, generating 18.28 percent of sales during October.

Labels: Dubai Real Estate, land, Sales

";

Labels: Dubai Real Estate, Jumeriah Village, Real Estate Company, Sales, Studios, Townhouses

"; Al Hamra Real Estate development LLC has launched the Phase 3 project of the prestigious Al Hamra Village in Ras Al Khaimah, at a total investment cost of AED 7 billion.

The sale of the mixed use, residential and commercial property is now also open to investors. The project is expected to be completed in 2010.




Also available for sale, is the luxurious hotel apartments at the magnificent 7 Star Palace Hotel. There are only a limited number of hotel apartments as part of this deluxe beach-front property. The hotel is due to open in late 2008 and is built in an contemporary Arabesque design, keeping up with the rich cultural heritage of Ras Al Khaimah

"The third phase of Al Hamra will have a core of 14 residential buildings with a total of 3,900 apartments and town houses, which we expect to be ready by end of 2010. As part of the immediate release, there are 700 high quality luxury villas, plus 1000 studios 1, 2 and 3 bedroom apartments which will be available for sale on a 100% Freehold", said Piras.

The project will also offer fantastic luxurious penthouses with 180 degree panoramic views of the Arabian Gulf and coastline. This project is surrounded by salt water lagoons, private outdoor swimming pools and landscaped gardens.

Other amenities in this project include, the 18-hole championship Golf course, designed by renowned Golf course designer Peter Harradine.

There will be a 200-berth Al Hamra Village Marina, which is unique as it overlooks the beautiful surrounding harbour town. Comparable only to the best that Europe has to offer, the Marina and club house will provide full services. It will also offer a superb dining experience next to the Marina apartments.

The new Al Hamra Shopping Mall will be a shopper's paradise, with over 100 stores of which 92% is leased out. It has attracted supermarket chains and major retailers with such names as Spinneys, Damas, Interiors, and Paris Gallery. The facility will also accommodate other retail service outlets including food courts, designer clothing boutiques, and electronic stores among others.

Piras also disclosed that mortgages are being offered by several banks and institutions. The mortgages, he said will be administered under the terms set by these institutions.

"The cost of the apartments and villas in Al Hamra are very competitive. Financing institutions are now offering finance up to 80% of the total value of the unit, for a maximum of 15 years.

Residence Visa is provided on the purchase of each unit and the owner is allowed to register his property with the Land Department of Ras Al Khaimah, upon completion of full payment," said Piras.

Labels: Al-Hamra, Apartments, Investment Property, Penthouse, Ras Al Khaima, Sales, Townhouses, Villa Projects

"; Cinnovation Group and the HDS Group have together launched the HDS Sunstar Towers in the Dubai International City.

The Director of Cinnovation Group, Varun Chaudhary, and the Managing Director of HDS Group, Ali Dar, together has recently performed the ground-breaking ceremony for construction of its first tower on plot number 22 in the Central Business District.

The project is unique, in the sense, that it offers buyers the opportunity to see the projects that they plan to purchase. The sale of units will begin during mid 2008, when the project is almost complete. Even options for finance will be announced by that time.

The HDS Sunstar I and HDS Sunstar II are all ready to be completed towards end of 2008.

Chaudhary says "You would never buy a car without seeing what it looks like. Hence while investing in a property, being able to see what you are paying for, makes all the difference. HDS Sunstar Towers is a project that sells purely on a concept and we will show potential buyers the properties they will be investing in."

The location and positioning of the Sunstar Towers will decide the exclusivity and prestige of a world-class development, said Dar.

The two G+10-storey residential towers, worth more than Dh.200 million, comprises single, and double bedroom units offering spacious living space. Both HDS and Cinnovation have over the years, established themselves as major players in the dubai property sector.

Labels: International City, Investment Property, New Developments, Residential, Sales

"; Ideally positioned in close proximity to other leading freehold developments in Dubai, such as the Green Community, Jumeirah Islands and Dubai Marina, the Discovery Gardens offers a picturesque apartment complex in the heart of Jebel Ali. Comprising an area of 26 million square feet, the Discovery Gardens provides an interesting mix of architecture inspired residences, amidst landscaped surroundings.

Most buildings in the Discovery Gardens are low-rises, so they are not distracted from the outdoor features. It offers the buyers with a choice of studio, one and two bedroom apartments at a reasonable price and the buyers can rest assured that will be provided with an excellent value for money in terms of choice, features and amenities.

Discovery Gardens comprises of 291 buildings on the whole, divided into six various themed areas: Zen, Contemporary, Mediterranean, Mogul, Cactus and Mesoamerican. The buildings include 26,000 apartments and the neighbourhood concept of the development is sure to make an impression among the residents.

Other amenities at the Discovery Gardens include tennis, basketball, swimming pools, volley ball courts, cycling, gyms, football pitches, jogging paths, undercover parking and mosques. Residents can always keep themselves occupies with the amenities offered by the development in a secure and safe environment that is perfect for small families and couples. The Ibn Battuta Mall, located across the road from the Discovery Gardens is one of the largest shopping destinations in Dubai, where everything from retail to cinemas to restaurants are available.

Life at Discovery Gardens is convenient and comfortable in all ways due to the excellent amenities and its close proximity to other major developments. Being easily accessible to the city, the Discovery Gardens provides residents with a perfect blend of city life within its relaxed surroundings.

Labels: Apartments, Discovery Gardens, Freehold Property, Jebel-Ali, Sales

"; Nakheel, together with the female banking division of Dubai Islamic Bank, Johara, had launched a sales initiative for its latest Al Furjan development which proved to be an overwhelming success.

The two companies together, launched a "women only" sales campaign for Al Furjan, the villa community for families. This was done by organizing private sales events for female investors. The full public launch is scheduled for 5th September.

The Al Furjan development was well received by the female customers of Johara, and within five days of its launch, more than hundred units have been sold out, said a statement.

The development comprises 4000 homes, based on the "new urbanism" principles, and has been specifically designed keeping families in mind.

The Al Furjan Director, Mohammed Rashed Bin Dhabeah said "At Nakheel, we believe in the role of women as an important decision-maker in matters such as investing in a family home, which is why, we partnered with Johara for presenting this opportunity to female investors. The success of the launch, by itself, is an endorsement of the product. "

The Product Manager in Johara, Rana Al Hindwani, commented "Women in UAE are savvy investors and can identify the value of sound investment. The Al Furjan launch success indicates that women play a major role in the national economy, and that Al Furjan is a quality community in Dubai and a good investment opportunity."

The Al Furjan development will comprise of 4000 distinctive homes in four communities with well-designed public spaces, and landscapes which celebrate local history and at the same embrace modern building practice. Residents will also get to enjoy a wide range of amenities ranging from supermarkets to coffee shops and restaurants and open spaces to gym facilities, all within a walking distance.

Labels: Al-Furjan, Nakheel, Sales

"; Tameel Holding has announced that all the units in its "Silver Tower" development have been successfully sold within fifteen days of its launch.

This achievement brings to Tameer, the credit of being the first in Business Bay, Dubai, to announce 100 percent sales of its units, among the other 500 commercial and residential towers in Business Bay.

The success has been attributed to the strategic approach by Tameer, and its focus on developing integrated projects with an aim to cater to major companies and businessmen, apart from residents belonging to all social segments.

Tameer considers this success as another valuable addition to its unique line of successive achievements in the local and regional property market, and as an indicator to prove the depth of customer confidence that Tameer has established in the property market.

The launch of 260 offices Sliver Tower was coincident with the growing demand for commercial and residential units in Dubai property market. The launch came at an apt time, when Dubai was witnessing a continuous surge in population, which had doubled during the past ten years, and when the demand was exceeding supply, coupled with economic growth. Experts predict that the population in Dubai will touch 2 million towards the year 2015.

The Silver Tower, worth Dh.450 million, will include 260 offices of various sizes, with 27 buildings and 31 floors that meets the best in design, quality of construction and finishing. The total area of the tower is expected to be 700,000 square feet, and the final height of the tower is expected to touch 147.5 meters by 2009. The tower will comprise modern amenities such as a sophisticated conference hall, health club, swimming pools, mini golf course, car parking spaces for 793 cards, commercial and retail outlets and cafeteria and more.

The strategic location of the tower makes it easily accessible to all parts of Dubai, and to prominent locations such as Burj Dubai downtown, Sheikh Zyed Road to Jebel Ali Free Zone, Dubai Media City, Dubai International Financial Center, and Dubai Internet City.

Tameer had entered into a partnership with Al-Rajhi Investment Group two years ago, and today, ameer has a real estate investment portfolio exceeding AED 150 billion. Currently, Tameer is developing "AlSalam City" in Umm Al Quwain, and the "Al Ameera Village" in Ajman and the "Princess Tower" which the tallest residential tower in the world, located at Dubai Marina.

Labels: Business Bay, Business Tower, New Developments, Sales

"; Al Madar Property Investments, the real estate branch of Al Madar Group, announced that its 22 storeyed 'Scala Tower' in business bay has been more than 80 percent sold out.

The tower comprises of eighteen storey of residential units with studios, single and double bedroom apartments. It has world-class features such as a hi-tech health club, high-speed internet connectivity, cafeterias, shopping area, recreation area, closed-circuit television, high-speed elevators, 24 hours security and maintenance, car parking and more. The tower will be ready for delivery by 2009.

The Sales and Marketing Director of Al Madar Group, Keith Pepperdine, expressing his happiness over the success of Scala Tower, mentioned that the ideal location of the tower in Business Bay with eye-catching view of the Burj Dubai, coupled with modern amenities offered by the tower has been the major factors for the success of Scala Towers.

After a series of hig-profile realty projects in the UAE and Dubai, Al MAdar is now looking forward to regional expansion. The company has a rich portfolio of being involved in the property sector for more than fifteen years and has already completed 125 developments throughout the Middle East.

Labels: Apartments, Business Bay, Luxury Homes, New Developments, Residential, Sales

"; ALDAR Properties, a major real estate development, based in Abu Dhabi, has commenced the handing over process of its completed properties in the Al Raha Gardens development in Abu Dhabi.

ALDAR has already handed over the keys of the first phase to the owners, which will be hundred percent complete in another year.

To mark the occasion, ALDAR Properties held a ceremony with a few new residents of Al Raha Gardens. The ALDAR Chairman, Ahmed Al Sayegh, said "The delivery of our first-ever project in Abu Dhabi property market, is a matter of pride for us. We have proven our commitment and dedication to the UAE, ensuring that we always strive to achieve our developmental aims."

Al Raha Gardens comprises luxurious villas, townhouses, community retail, schools, dining outlets and much more in a posh landscaped area covering 665,000 square meters of land, making it the most integrated residential development in Abu Dhabi.

The delivery of the first phase of Al Raha Villas also indicates the potential for attractive villa rentals and the secondary sales opportunities for owners. All properties were sold on the day of the launch, and the development is one of the highly desired locations in Abu Dhabi, particularly, for the crowd who commute to Dubai often, as Jebel Ali is just forty five minutes away.

Labels: Abu Dhabi, Al Raha Beach, Aldar, Luxury Homes, Residential, Sales, Villa Projects

"; The country-subsidiary of Emaar Properties, Emaar International Jordan, has launched the sale of its hi-tech residential project, Samarah Dead Sea Golf & Beach Resort in Dubai on August 18th.

The project, overlooking the Dead Sea, comprises Mediterranean styled homes, within a vibrant retail center and a Spa and Wellness Village.

The Emaar International Jordan General Manager, Steve McCartt, said "The Samarah Hillside homes will provide a lifestyle experience for Jordan through integration of several leisure amenities in close proximity. Jordan has witnessed keen interest from Dubai investors including the Jordanian community in Dubai. Through this sales launch in Jordan and Dubai, we wish to offer a purchase opportunity for Jordan and international investors."

Samarah Dead Sea Golf & Beach Resort is owned by The Dead Sea Touristic and Real Estate Company, a venture of Emaar Properties PJSC. The project aims to energize the Jordanian economy with particular focus on tourism growth and luxury property development.

At present, Emaar is launching the sales of homes within the Hillside comprising two and three bedrooms ranging 314 to 404 sq. mts., in size. The multi-functional residential community is situated opposite to the King Hussein Bin Talal Convention Center.

Labels: Emmar, International, Investment Property, New Developments, Resorts, Sales

"; A recent study conducted by Deutsche Bank revealed that although Abu Dhabi property market seems to be growing at a rapid pace, the developments do not sell out immediately, as in Dubai. The study pointed out that Abu Dhabi has not been successful in implementing the manner in which Dubai did, by following relaxation of foreign ownership laws.

A Research Analyst at the Bank, Mohammad Khan, said that in comparison to the pace of property sales in Dubai, the developers in Abu Dhabi get to experience "A more cautious buyer pool."

The research was based on the reports of a study of residential units being sold by Aldar Properties, the largest developer in Abu Dhabi. Mohammad found that among the 5000 residential units on sale since 2005, only 60 percent of them have been sold.

The Bank is of the opinion that the buyers in Abu Dhabi are taking cautious steps, out of fear of having to face legal obstacles, and financing of purchases.

Also, the Abu Dhabi property market has not witnessed an increased demand from expatriates, and is instead depending on the national buyers. However, the nationals in Abu Dhabi are less likely to buy from their own city, as they are already entitled to government-sponsored housing, and hence prefer investing in second homes in Dubai or outside UAE.

The expatriates may opt to buy from Aldar properties, but only two our of four major projects - the Yas Island and the Al Raha Beach are made available to non-Emiratis.

The Bank also pointed out that though the expatriates have plenty of job opportunities due to the oil industry, there are not much other booming industries.

Dubai, on the other, has drawn to its side high-profile executives to free zone developments such as the Media City, Jebel Ali and the Internet City.

Finally, although the property ownership laws in Abu Dhabi are currently on par with that of Dubai, the Bank suggests that the expatriates in Abu Dhabi are still uncertain about the legal system. In addition to this, the immature mortgage market, is also bringing about another drag on the Abu Dhabi property sector.

Labels: Abu Dhabi, Real Estate News, Sales

";

Labels: Latest News, Nakheel, Sales, The World

"; About ninety percent of the residential apartments of 23 Marina has been sold out with a fifty percent appreciation in price after the launch of the luxury tower in March 2005.

The Hircon International Director, Darshan Hiranandani, is said to have stated that, the product has marked a new beginning for high-rise living, and has drawn large number of end-users. Majority of the buyers are expatriates from Europe, GCC and India, who have actually purchased the units with an intention to live in the ninety storey tower.

The ETA Star Executive Director, Abid Junaid considers this as a major achievement, and has mentioned that 23 Marina, being the first project of Hircon International in the UAE, the accomplishment has been possible mainly due to the attention paid to minute details that provides an enhanced and good living experience for its residents.

The construction of 23 Marina has proceeded as scheduled, and on completion during mid-2009, it will be the tallest residential building in the world, measuring more than 380 meters in height. It comprises 48 duplex apartments on the top twenty four floors, three penthouses on top of the tower and a total of 288 apartments. It boasts of its own private plunge pool, internal elevator and Jacuzzi, landscaped gardens, temperature controlled swimming pool, jogging track, coffee parlour and such high-end luxury. The entrance of the tower will feature a six storey high lobby with panoramic elevators. Prices range from Dh.1,700,000 to Dh.8,500,000 for the duplexes.

23 Marina has also won the prestigious "CNBC Arabian Property Award for Best Architecture in 2006."

Labels: Apartments, Latest News, New Developments, Residential, Sales

"; According to the Dubai Land Department, land deal transactions have touched the Dh3.09 billion mark in the month of October this year. Aim for this year is to touch Dh38bn mark by way of land deals.

In all 234 cash sales transactions worth Dh1.03bn have taken place last month. Out of which 135 were mortgage transactions which were worth Dh1.96bn and 15 were donations of land and property which were worth Dh97.48 million.

The total value of real estate has thereby risen in the year 2006 compared to that of 2005. The real estate value touched Dh17.3bn in the first half of 2005 and was estimated at Dh20.6bn in the same period this year.

Labels: Dubailand, land, Sales