Dubai World Central Phase II land sales registrations begins at IPS 2008
Tuesday, February 19, 2008
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. "
Social BookmarkingActual land sales for the plots with sizes ranging from 5000 to 12000 Sq. Mts., will however, commence only next month.
With over 184 hectares of land, being available in Phase 2, the Residential City of the DWC, the largest phase of the city, is expected to house around 53,000 people. The Phase 2 will have about 19 plots, meant for mixed-use, while 9 plots will be reserved for public and commercial purposes, such as malls, schools, hotels, mosques, health centers, fuel stations and parks.
The Dubai World Central, CEO, Khalid bin Harib, said "With the first phase of the project completely sold out last year, yielding sales worth Dh.2.5bn, the second phase has now produced about 700 potential customers. We expect the same response during the registration at the IPS Dubai event. "
Labels: land, Property-show, Sales
Dubai recorded Dh.10.22bn worth land transactions last month
Sunday, November 04, 2007
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.
Social BookmarkingOut 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
High land-prices considered a hindrance for low-budget housing
Saturday, September 01, 2007
The property developers in Dubai have said that unless the government facilitates cheap land, the private developers will not go ahead with construction of low-budget housing.
The Chairman of New Dubai Properties, Ahmad Al Abdullah, says that the skyrocketing land prices imply that developers are in the process of constructing commercial blocks, hotels or luxurious residential projects that yield high returns on their investment, rather than the low or middle range units.
With such an escalation in land and house prices, the ability to purchase a plot or land among individuals of various income groups gets affected and in the process the ability of the emirate to draw attention from the talent required for further development is also shattered.
Al Abdullah said "We will build affordable housing if the government provides us land at an affordable price, and directs us not to raise rent above a fixed level. For instance, Dh.40,000 to Dh.50,000 for a two bedroom apartment. In case the plot is high in value, we will only construct a project that can cover the initial amount invested by us."
Al Abdullah mentioned that 40 percent of the project value makes up the price of the land, while the rest comprises the construction cost, which has also shot up considerably.
He added that with the unavailability of cheap land in Dubai, the private developers have no option but to consider other emirates including Ajman, where the land is much cheaper.
Social BookmarkingThe Chairman of New Dubai Properties, Ahmad Al Abdullah, says that the skyrocketing land prices imply that developers are in the process of constructing commercial blocks, hotels or luxurious residential projects that yield high returns on their investment, rather than the low or middle range units.
With such an escalation in land and house prices, the ability to purchase a plot or land among individuals of various income groups gets affected and in the process the ability of the emirate to draw attention from the talent required for further development is also shattered.
Al Abdullah said "We will build affordable housing if the government provides us land at an affordable price, and directs us not to raise rent above a fixed level. For instance, Dh.40,000 to Dh.50,000 for a two bedroom apartment. In case the plot is high in value, we will only construct a project that can cover the initial amount invested by us."
Al Abdullah mentioned that 40 percent of the project value makes up the price of the land, while the rest comprises the construction cost, which has also shot up considerably.
He added that with the unavailability of cheap land in Dubai, the private developers have no option but to consider other emirates including Ajman, where the land is much cheaper.
Labels: Dubai Real Estate, housing, land, Property Prices
Dubai land sales cross Dh3bn mark
Friday, November 03, 2006
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.
Social BookmarkingIn 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.
