Sunday, 24 February 2008

The Dubai property market received a shot in the arm in March 2006 with the introduction of a new law allowing foreigners to own freehold property for the first time. Before the long-anticipated arrival of the Dubai Property Law, properties were sold through contracts with developers, often on the proviso that freehold ownership would be granted when the law changed. Well now it has; but beware, the law applies in certain parts – not all – of the Gulf city state.

This development means that Dubai is set to become an attractive second-home destination. Until recently, luxury off-plan projects such as the Dubai Marina, really only attracted buyers looking for an investment. Now foreigners – who comprise 80 per cent of the state’s estimated 1.2 million people – living in Dubai are starting to fork out on second homes to live in.

Foreign property owners taking time out from Dubai also have the opportunity to benefit financially from their home; the new legislation gives the green light for them to “derive profit from their property or rent it out for a period not exceeding 99 years”. As residents in Dubai increase by a staggering 200,000 annually, there should be no shortage of takers in the rental market. Furthermore, a short supply of available rental property – due to a delay in completing some major developments – has led to a hike in rental rates. Landlords can expect yields of 10 to 15 per cent. All in all, buying a freehold property there could be a lucrative move.

After such a rapid rise onto the global property scene, mumblings of a Dubai property bubble on the verge of bursting were inevitable. However, demand is still there and so are the tax-free incentives, year round sun, cosmopolitan community – but very affordable – standard of living. The Dubai government’s long-term commitment to tourism is another promising sign of a stable future. It has set itself a target of 15 million visitors a year by 2012 – three times its current number – and continues to grow Emirates, its state airline, and fund projects including the airport expansion and Dubailand, a themepark with a snowdome.

Saturday, 23 February 2008

Come home to a lifestyle of uncompromising quality. Elegant and sophisticated interiors complement the spectacular exterior. Experience the stunning views surrounding you through
the wide windows which are an intricate part of the design. A beautiful living experience that goes beyond the confines of the four walls of your home.

Madison Residences exemplifies the artistic mastery of early 20th century Manhattan style of architecture, thus breaking away from the monotony of glass paneled buildings of today. A cluster of 4 low-rise buildings, the exteriors are truly a visual delight and set a hallmark of excellence.

When you feel the need to rejuvenate, go for a relaxing swim or a nice workout at the gymnasium. At Madison Residences you’ll find just what you need to keep the whole family healthy and fit. Go on and relax at the end of the day and refresh yourself for the next. You can also go to any of our wide range of restaurants and cafås.

When you feel the need to rejuvenate, go off for a relaxing swim or a nice workout at the
gymnasium. At Madison Residences you’ll find just what you need to keep the whole family
healthy and fit. Go on and relax at the end of the day or refresh yourself for the next.
• State-of-the-art gymnasium
• Swimming pool
• Roof garden

Experience the best in retail with top-notch and distinct trend setting lifestyles that are
guaranteed to captivate you. Situated in a location with endless mix of day and night
activities that would appeal to the widest segments across genders and age groups from
all over the world, Madison Residences, is also close to the Jebel Ali Airport, the Arabian
Ranches, Dubai Sports City as well as the hip and happening Mall of the Emirates.
• Retail on ground floor
• Restaurants and cafås

Property Features
  • Balcony
  • Security
  • 24 Hour Security
  • Air Conditioning
  • Alarm
  • Appliances
  • Barbeque area
  • Cable/Satellite TV
  • Ceramic Flooring
  • Fireplace
  • Furnished
  • Golf Course
  • Gym/Spa
  • Landscaped Surroundings
  • Loundry Room
  • Microwave
  • Patio/Deck
  • Pool

Neighborhood: A drive through the marvelous Majan and you’ll definitely stop to admire this diverse and unique architecture of Madison Residences. Situated in a location with endless mix of day and night activities that would appeal to the widest segments across genders and age groups from all over the world, Madison Residences is also close to the Jebel Ali Airport, the Arabian Ranches, Dubai Sports City as well as the hip and happening Mall of the Emirates.

In a little more than two decades, Dubai has transformed itself into one of the fastest growing cities in the world. A truly designer city, Dubai boasts of a lifestyle that is unique and desirable. The destination for intelligent property investors, it has some of the most breathtaking buildings and prestigious projects. A bustling metropolis, with towering skyscrapers and quiet boutique offices, Dubai has world-class shopping malls, restaurants, cafes and ntertainmentfacilities. Home to some of the most unique master plans in the world, Dubai also boasts of the world’s richest horse race, the prestigious Dubai Shopping Festival and has the region’s ultimate fun and entertainment destination, attracting visitors not only from the surroundingcountries but from Europe and Asia as well.

Ideally located in the heart of Emirates Road, Majan is next to Global Village, Mall of Arabia, and just 10 minutes away from the Dubai International Airport. A modern development which offers residential, office and mixed-use retail towers that line the perimeter of the site and generate the beat of the city, Majan also has fountains, parks and public squares that offer calm amidst the excitement.
• Residential •Office •Hotel •Mixed-Use
• Entertainment & Leisure •Retail •Theatre
• Public Arena & Exhibition Center • Water Features
• Community Facilities • Open Space / Public Park
• Primary Substation • District Cooling Plant
• Sewerage Treatment Plant •Telecom Server

Friday, 22 February 2008

Dubai Real Estate Market

The Dubai Property Market has never been stronger than it is at this moment and foreign investors are flocking to the shores of the emirate to take advantage of the real estate boom. Rapid development has characterized the cities and sandy beaches or desserts have been forced to give way to skyscrapers, artificial lakes and massive retail spaces. What’s more, the local government encourages this growth by maintaining a no personal, sales or corporate taxes policy. Such steps have had a tremendous impact on foreign investment and have allowed for a number of mega-projects to be staged in this glorious city. What’s more, Dubai’s rapid development has not resulted in city slums, poor building and a strained infrastructure. The economy has benefited in ways never before imagined from such mass investing and the standards of living here are higher than in most other parts of the world. It is facts like these - combined with the striking beauty of the ever-expanding facade of the city - that has earned the city the nickname Pearl of the Gulf.
In a geographical region with a reputation for political instability, Dubai has separated itself from issues that affect surrounding emirates and has instead established itself as a holiday home haven, a regional hub for finance and trade, a notable tourism destination and even a center for technology. All these factors continue to influence the ever-growing property market and as a result, the market is set to continue to blossom for at least the next decade. What’s more, the government has recognized the positive impact of foreign investment on the local market and is taking steps to abolish protective property laws so that this investment can continue to take place with less hassle. While certain aspects of property ownership and residency rights for foreign investors still need to be firmly established, the liberal attitude towards property laws in Dubai not only encourage investment but, in some cases, serve to be most profitable for the investors.
The immense growth and rate of investment can perhaps be best seen in several of the mega-projects, which have put Dubai on the architectural map. These include The World Dubai, the Palm Jumeirah, the Dubai Marina and a number of Arabian Ranches. The World is an impressive cluster of some 300 private, man-made islands. The islands are shaped into the various continents of the world and are surrounded by a breakwater. The total collection of islands covers an area of roughly 9 kilometers in length and 6 kilometers in width. Reachable only by marine or air transport, the World offers an opportunity for investors to own their own little island picturesque and private. Investors are already clamoring to gain their hands on one of these islands even though the project is not yet complete.
The Palm Jumeirah is similar in that it is an artificial landmass that stretches out into the sea. It is shaped like a palm tree and is one of a set of three mega-projects, which line the coast of the city. Unlike The World, the Palm Jumeirah serves as an island resort – not a residential area. The other two islands are under construction and will be completed soon. The Dubai Marina is also entirely man-made and is set to become the largest man-made marina in the world. The Marina has been created as a sort of city in a city where people can all the exclusive comforts of living in a world-class city. Upon completion it will have more than 200 high-rise buildings and cover an area of 50 million square feet. If the idea of living on the shores of this mega city does not appeal to you, then you may wish to turn your attention inland. The Arabian Ranches are set in the midst of a fast-changing dessert, just a few minutes outside of Dubai. A great place to relax and get away from the pace of the city, the Arabian Ranches feature an impressive golf club, an equestrian center, a polo club, a village center and an English-speaking school – to mention just a few.
As foreign and local investors continue to empower developers in this fast-changing country, Dubai continues to maintain its place as a property haven. Desserts are being converted to oases and sandy dunes to mega resort complexes or sparkling marinas. Dubai is truly a testament to the ingenuity of man and the desire to see ourselves living in a picture-perfect world. Get your little piece of paradise now by investing in the Dubai property market.

UAE property guide, Ajman Property

Ajman is one of the seven emirates (sovereign states) that make up the United Arab Emirates (the UAE). Ajman is the smallest of the emirates with an area of only 260 square kilometres. The main city of the emirate of Ajman is also called Ajman or Ajman City to distinguish it from the emirate, and to avoid confusion. The emirate of Ajman is geographically located on the coast of the Persian Gulf between the emirates of Sharjah and Umm al–Quwain.

Ajman was the third of the emirates of the UAE to allow foreign freehold ownership of property which has resulted in huge numbers of investors, both foreign and local, expressing interest in the emirate. This interest has, in turn seen the initiation of several property developments in the emirate to cater for this interest. Primary among them is an area known as New Ajman, an area of land along the Emirates Road. This area will contain many new developments and projects which have been envisioned by the ruler of the emirate Sheikh Rashid Al Nuaimi, with the chief development being The Emirates City. The New Ajman area and Ajman city in general is centrally located in the heart of the UAE, it is only a 30 minute drive to Dubai and a 20 minute drive to the Sharjah International Airport.

The Emirates city development is a residential and commercial development consisting of 72 commercial and residential towers ranging from 20 to 50 floors. The development will be surrounded by two lakes and beautiful green parks as well as containing educational and medical facilities, mosques, five star hotels and a shopping district. Interest in the Emirates city development is huge, with several of the towers having already been fully sold.

Al Ameera Village (which is also known as the Princess Village), is another of the freehold commercial and residential developments being constructed along the Emirates Road in Ajman. This development will consist of a shopping mall, commercial areas, a commercial tower, hotel apartments, as well as 41 residential buildings. The development will be fully landscaped with fountains, gardens, parks and a 500 metre long boardwalk. Al Ameera Village will house all of the amenities you would expect from a development of this standard including mosques, swimming pools, gymnasiums, just to name a few. The development also features ample parking and wide roads to make traveling and commuting around the village a pleasure. Al Ameera Village is expected to be fully completed by mid 2008.

The National Centre for Real Investment Development Company has also built, and is constructing several residential towers for freehold ownership in various areas of Ajman City. The Al Naeyiyah towers project which consists of thirteen towers built in two stages was the first freehold residential development in Ajman City. The developers followed with the Al Khor towers that are built close to the Ajman Khor Creek, which are identical to the Al Naeyiyah towers. The next offering from this developer was the Al Rashidiya Towers constructed in the Rashidiya area of Ajman, these towers look similar externally to their other offerings but have a different internal layout.

Real Estate Investment Spurs Economic Growth in the United Arab Emirates

The federal governments of United Arab Emirates are continually seeking to promote a progressive economic agenda, built around economic diversification and enhancing the role of the private sector. Similarly, the federal governments are taking steps to further promote foreign investment, including the abolition of the sole agency law and regulations that restrict foreigners to minority stakes in local firms. According to reports from Global Investment House-UAE Economic & Strategic Outlook, GDP is estimated to have grown by 14% to AED553.4bn while in real terms the economy is estimated to have recorded growth rate.

Although the oil sector in United Arab Emirates is expected to record a high growth of up to 3.5mn b/d by 2011, the diversification strategy is expected to play a greater role in economic growth through sectors such as trade, manufacturing, real estate, tourism and financial services. The United Arab Emirates has undergone a magnanimous economic transformation and currently observes an open economic policy with a high per capita income. The United Arab Emirates is made up of seven emirates that include: Abu Dhabi, Dubai, Sharjah, Ajman, Fujairah, Ras al Khaimar and Umm al-Quwain.

United Arab Emirates: Selected Economic Indicators, 2003-06
2003 2004 2005 2006
(Annual percent change)
Real GDP (at factor cost) 11.9 9.7 8.2 9.4
Real oil and gas GDP 13.6 2.9 1.6 6.5
Real non-oil GDP 11.2 12.6 10.8 10.4
CPI inflation (average) 3.2 5.0 6.2 9.3
Source: IMF External Relations Department

According to a 2007 survey conducted by, the economy of the United Arab Emirates is 60.4 percent free, which makes it the world's 74th freest economy. Its overall score is 0.7 percentage point higher than last year, partially reflecting new methodological detail. The United Arab Emirates is ranked 8th out of 17 countries in the Middle East/North Africa region, and its overall score is higher than the regional average.

On the competition front, the United Arab Emirates continues to rank favorably when gauged by various indices of competitiveness and business climate indicators. This is reflected as per latest rankings contained in the Global Competitiveness Report 2006-07 issued by the World Economic Forum (WEF). According to the report the United Arab Emirates is among the most competitive countries in the world and a haven for businesses as it has consolidated its international and regional position in the Growth Competitiveness Index (GCI) for 2006. Out of 125 countries, United Arab Emirates ranked 32nd in the world as per GCI. Regionally, the United Arab Emirates enjoys the second rank in the MENA countries as well as, it is the highest ranked in the gulf region.

Economic Diversification in Dubai

Just like the rest of the United Arab Emirates, the Emirate of Dubai has been experiencing an upward trend in economic growth. The main factor that has enabled the Emirate of Dubai to register greater economic growth is the implementation of the Dubai Strategic plan that aims at diversifying development resources in Dubai and reducing over reliance on Oil resources. The Emirate of Dubai remains at the forefront of most new initiatives as it seeks to accelerate its diversification process, compensating for the decline of its small oil industry by building on its emerging position as the region's services hub. Within this plan, Dubai is developing high-class tourism and international finance sectors. In line with this commitment, the Dubai International Financial Centre was established, offering 100% foreign ownership, no tax, freehold land and office space. The Emirate of Dubai has also developed internet and media free zones, offering 100% foreign ownership, no tax office space for the worlds leading information, communication and media companies. The Emirate of Dubai has also been embracing open market policies that encourage foreign investment. The enactment of new laws lifting limits on foreign property ownership has seen increased participation of private sector in Dubai's economy. One of the sectors displaying tremendous and consistent growth and development in Dubai is the Real estate property sector. The opening up of the Dubai Property to foreign investors has seen property investors flock into the Emirate to purchase both residential and commercial real estate investment properties. In a move aimed at diversifying further and creating more opportunities, the Dubai government commissioned and is sponsoring the Dubai Sports City.

What is Dubai Sports City?

Dubai Sports City is the world's first purpose-built and integrated city themed on sports and leisure. Dubai Sports City covers 50 million square feet and is a cornerstone project of Dubailand. The 2.7bn project is one of the most exciting construction projects in the world today, which will further propel Dubai onto the world stage as a global leisure destination. Dubai Sports City is in partnership with the world's most advanced designers and developers in the construction of the pioneering project. The hi-tech infrastructure of Dubai Sports city comprises of Victory Heights projects of 50 kilometers of roads, 70.5 kilometers of portable water piping, 120 kilometers of telecommunications multiple ducts, 54 kilometers of sewerage mains, 29 kilometers of storm water drainage, 87 kilometers of electrical cable and 41.5 kilometers of irrigation ducts. Dubai Sports City consists of numerous sports and leisure facilities that include: Sports Stadiums, Golf Course, Sports Academies, Sports Residences, and Commercial Sports facilities.

Sports Stadiums in Dubai Sports City

The sports stadiums in Dubai Sports City include: a 60,000 capacity multi-purpose outdoor stadium for football, rugby, track and field and other sports and non-sports events, a 10,000 seat multi-purpose indoor arena suitable for all hard court sports as well as concerts and other events and also including a removable ice rink, a 25,000 capacity dedicated cricket stadium and a 5,000 seat field hockey stadium.

Sports Academies in Dubai Sports City

Sports Academies in Dubai Sports City include: the first purpose-built Manchester United Soccer School anywhere in the world, a David Lloyd Tennis Academy, a Butch Harmon School of Golf, the first such facility outside the United States, the International Cricket Council's own ICC global cricket academy, top class multi-sport training facilities including gymnasium and a 50 meter swimming pool as well as a world renowned sports rehabilitation centre.

World Class Golf Course in Dubai Sports City

Dubai Sports City hosts the Dunes, the Ernie Els designed 18-hole Golf Course.

Sports Residence in Dubai Sports City

Dubai Sports city boasts numerous high profile waterfront residential properties and high-rise buildings offering spectacular views of the surrounding golf course and stadiums. The sports city also has numerous mid-rise housing complexes set along the banks of a canal.

Commercial Sports facilities in Dubai Sports City

Commercial Sports facilities in Dubai Sports City constitute of the multi-trillion dollar global sports industry, a community of unrivalled opportunities for trade, retail, merchandising, and entrepreneurship. The sports city is a commercial and retail hub for hotels, multiplex cinemas, malls and retail outlets.

Economic and Cultural Integration through Sports in Dubai Sports City

Just like business, sports bring people from different countries, colors, cultures, experiences and backgrounds together. There are many cultural differences between the culture of United Arab Emirates and cultures of other parts of the world in terms of social relations, public and private affairs, business practices, trust, time and obligations. In a Muslim culture for example, religion plays an important role in business practices, which is conducted in accordance to the religious holidays and rituals. In an attempt to harness these cultural differences positively, many countries, including the United Arab Emirates, are promoting local and international cultural integration through sports.

The Dubai is the most notable emirate in the United Arab Emirates with a rich sporting history and tradition. It is evident that the rulers of Dubai have been keen and committed to promoting regional, economic and cultural integration in Dubai through sports. This has been a very important move because the United Arab Emirates is a highly multicultural society with only 15% of its population as its citizens. The rest United Arab Emirates population are foreigners. Camel racing has been the most traditional sporting event hosted in Dubai. Dubai hosts the Nad al Sheba camel racing track. The traditional camel racing event has always provided redefining cultural moments for indigenous Dubai citizenry. The camel racing events in Dubai have also turned out to be major tourist attractions. The 2000 Dubai Duty Free Tennis Championships is arguably one of the most prolific sporting events ever held in Dubai. The event attracted most of the world's tennis top-seeds that included Andre Agassi and Roger Federer.

The emphasis on development and expansion of the world and life of sports in the United Arab Emirates parallel to the presence and consistent flow of people from the West to Dubai and the United Arab Emirates has made cultural diplomacy and cross-cultural interaction in the region a feasible and a desirable project. It is the perfect environment to explore the social and economic potential of a more cohesive diplomatic relations between East and West. The relationship between sports and business in the United Arab Emirates, more specifically in Dubai, is the key component that can serve as a neutral platform to expand on the positive socio-economic growth and cooperation between the West and the United Arab Emirates as well as the greater Middle East.

Apart from hosting one of the European Tour golf events in United Arab Emirates, the Dubai Desert Classic, Dubai also hosts the Dubai Sevens round of the IRB Sevens World Series at the Dubai Exiles Rugby Ground. The Emirate of Dubai also hosts the world's richest annual horse race, the Dubai World Cup. Cricket is one of the most popular sports in Dubai. Dubai is home to two famous Cricket Stadiums; Dubai Cricket Ground No. 1 and Dubai Cricket Ground No. 2. Football is a game that has fanatic following in United Arab Emirates. Under the aegis of United Arab Emirates Football Association, the Dubai Emirate participates in inter-emirate football competitions and tournaments. The United Arab Emirates national team also features prominently in international football tournaments such as the Asia Cup, Kirin Cup and Gulf Cup.

Dubai also boasts one of the world's most prestigious and state of the art formula one race tracks. The race track is located in the Dubai Autodrome and was opened in 2004 and includes an FIA-sanctioned 5.39km circuit, with 6 different configurations. The Autodrome includes a race and driving school and a CIK-approved karting track. The Dubai Autodrome has been built to world-class standards and in the early half of 2006 started the first national motor racing program in the United Arab Emirates. This includes GTI Cup specification cars such as Golf GTI's. The race and driving school is the first of its kind in the Middle East and caters for both novice as well as experienced drivers.

Dubai's identity as the "sporting capital of the Middle East" has further been enhanced by the establishment of Dubai Sports City. Dubai Sports City is the center-piece of Sports and Outdoor World that forms part of the six theme Dubailand development projects. Dubai Sports City spreads 80 million square feet of sporting venues, academies, exceptional homes, cultural activities and retail opportunities. The ultra-modern and prominent sporting facilities in Dubai Sports City include the following:

  • Dubai Sports City hosts the Dunes, an Ernie Els designed 18-hole Golf Course, Golf Club and world-class Golf Academy
  • Dubai Sports City is the home for an International Club House that has all leisure facilities that cover Tennis Courts and the David Lloyd Tennis Academy
  • Dubai Sports City is the home for the 25,000 capacity Cricket Stadium that hosts international cricket events. The presence of the Cricket Stadium has been complimented by a Global Cricket Academy. In fact, the International Cricket Council (ICC) has permanently moved its headquarters from London to Dubai Sports City.
  • Dubai Sports City hosts a 60,000 capacity multi-purpose stadium that provides venue for football, rugby, and track events. The stadium is complimented by the Manchester United Soccer Schools that offer the opportunity to live a dream and experience firsthand the magic of Manchester United Football Club
  • Dubai Sports City boasts the presence of the 5000 capacity Hockey Stadium
  • Dubai Sports City also hosts 10, 000 capacity multi-purpose indoor sports arena that hosts basketball, handball, netball and volleyball. The arena also hosts concerts and events
The resultant impact of the cultural integration in Dubai through sports has been a higher economic growth rate. The growth and development of sports in Dubai has positively highlighted Dubai's potential as a tourist and property investment destination. The recognition of the multicultural society in the United Arab Emirates has further encouraged nationals from many countries to migrate to Dubai or work as expatriates in Dubai and the other emirates. The increase in the number of expatriates has in turn led to increase in demand for residential and commercial properties. Real estate investment in Dubai has therefore experienced an upward surge in the recent past. In fact, demand for property in Dubai has been so high that it has totally eclipsed supply. For instance, most of the complete real estate investment projects in Dubai Sports City are selling out at a very fast pace. Property in Dubai Sports City has attracted so many residential and commercial property investors, who apart from having access to world-class sporting facilities; they are also set to benefit from great business due to increased tourism and international sporting events.

Information about Burj Dubai

The Burj Dubai (Arabic for Dubai Constellation) is a skyscraper under construction since April 2005 in Dubai, United Arab Emirates.

The final height of the Burj Dubai is being kept secret due to competition thought there are some rumors that hint at 808 meters (2650 ft).

The total number of habitable floors is rumored to be around 162. By August 2006, the Burj Dubai was 66 stories and 230 meters tall.The Burj Dubai is expected to be finished in 2008 and will most likely become the tallest building in the world. It will take that title from Taipei 101 in Taiwan and other proposals like the Freedom Tower at New York City's World Trade Center and the Shanghai World Financial Center. It will also become the world's tallest structure, beating the tallest freestanding structure on land, the Toronto CN Tower and the guyed KVLY-TV mast in North Dakota.

It is not known for certain but some sources claim that the Burj Dubai has been subjected to several height changes since it began. It was originally meant to be a clone of the 560 meters tall Grollo Tower proposal from Australia. However, the tower was very soon redesigned to the Skidmore Owings and Merril design that it currently sports. This design was originally drafted at 750 meters. The chief architect, Adrian Smith, did not like the design of the top of the building. He made some modifications that were met with approval; this resulted in an increase from the previously planned height. The increase in height however was not meant to add more floors to the building.

Its only purpose was to accommodate the changes made by Adrian Smith in order to make the top of building look more slender. As per the current plans, the top of Burj Dubai, starting from the 156th floor upwards, from a height of 575 meters to the top will be a steel frame structure and will not use concrete like the lower portion.

The developer, Emaar, has hinted that this steel section at the top may be extended for the sole purpose of beating any other tower and claim the title of the tallest building in the world.

The Burj Dubai will include 30,000 homes, 9 hotels, 6 acres of parkland, 19 residential towers, and a 12-hectare Burj Dubai Lake. The cost of developing the Burj Dubai will be approximately US$ 8 billion and will cover an area of 22 million square feet.

Dubai is already home to the tallest hotel, the Burj al-Arab, the world's largest man-made marina, the Dubai Marina, and the world's largest artificial island, The Palm.

Know all about Ajman Property

The Emirate of Ajman is located on the coast of the Arabian Gulf. It covers and area of 259 square kilometers between Umm Al-Quwain and Sharjah in the United Arab Emirates (UAE).
While by no means a backwater location, in case you wish to be away from the chaotic rush of city life and enjoy the calm and quiet of a sunny beach while staying at a resort then the Emirate of Ajman is a good option.

It is the seventh smallest of the emirates that comprise the UAE and is centrally located on the west coast. There are some major developments going on with the property in Ajman.

One very prestigious development going on in Ajman is located at its very entrance is known as Shorafa2. From this location one can enjoy some truly remarkable views of the Arabian Gulf and Ajman itself. About two minutes walk away from the beach, Shorafa2 is also very close to shopping centers. Also within walking distance are the Ajman Kempinski Beach Hotel and the Coral Beach Hotel.

Some of the leading architectural and functions features of Shorafa2 are:

  • A very modern look
  • A maximum of 5 apartments per floor with the smallest being a 2 bedroom apartment to ensure that all living spaces have plenty of breathing room
  • Each apartment has its own indoor parking
  • Separate health clubs for men and women, sauna and steams rooms are included
  • Gymnasiums for the health conscious are provided along with locker facility
  • Ground floor level has a huge shopping complex
  • Three high-speed elevators to cater to the foot traffic
  • CCTV security to cark park and entrance lobbies
  • Delivery access and holding room
  • All floors have direct access to the garbage shoot
  • Free central gas is provided to all the apartments
  • Also provided is free air conditioning

A few of the features for individual apartments are:

  • Spacious and well-appointed apartments that use contemporary design philosophies
  • Built-in wardrobes in all the bedrooms
  • Living areas are decorated with excellent taste and all have balconies
  • A very spacious entrance lobby
  • All fixtures and fittings exude an aura of luxury
  • Spectacular views of the Arabian Gulf

There are many factors that make Ajman a very good destination of choice. The number of residential and commercial centers is growing rapidly as property in Ajman undergoes further development.

Though the seventh smallest of the Emirates in UAE, Ajman offers many lucrative investment opportunities that have made it a center for commercialism. The government also offers many benefits to encourage foreign investment.

Most of the benefits are available for businesses relating to real estate and different kinds of projects to promote tourism. These include housing estate, commercial and housing towers, complex estate, marketing centers, hotels and restaurants.

Big Demand for Ajman Property

The Al Naeemiya Towers project will comprise 15 residential buildings, housing some 470 units.

A large two-bedroom apartment costs Dh282,000 (around $77,000), said the report.

The project makes Ajman the third emirate in the UAE after Dubai and Ras Al Khaimah to offer properties on a so-called freehold basis to expatriates.

Al Naeemiya Towers, on Emirates Road close to Sharjah, are under construction and only about one third of the project is still available.

'Expatriates and UAE nationals alike can own freehold apartments in Al Naeemiya Towers,' Ghalib Jabir of Ajman-based Properties Investment Company said in remarks published in the Gulf News.

The project, comprising Al Naeemiya Towers 1 and Al Naeemiya Towers 2, is ready for sale.

The first phase, Towers 1, is expected to be completed by November next year and the second by August 2006.

There are seven buildings in the first phase and eight in the second.

According to Gulf News, Jabir said all apartments in Al Naeemiya Towers 1 and 25 per cent of Al Naeemiya Towers 2 had been sold.

Each building will have 16 floors and four apartments on each floor.

The towers will comprise high-quality residential apartments of different sizes including two- and three-bedroom homes.

A three-bedroom flat of 2,366 square feet is priced at Dh369,000.

Two-bedroom apartments covering 1,813 square feet are being sold for Dh282,000.

Payment has been structured in installments and a large down payment is required at the time of booking.

Rainbow Tower B14 in Ajman, UAE

Rainbow Tower B14 consists of both residential and commercial properties and as well as the scenic lakes there are beautiful green Parks, a Shopping Mall, a Mosque, a School and a variety of Shops and Showrooms.

Rainbow Tower is located in The Emirates City on The Emirates Road that runs from Ras Al Khamiah, through Um Al Quwain, Sharjah and Dubai through to Abu Dhabi. Estimated driving time from Dubai is 25 minutes.

12 x Two Bedrooms and 6 x One Bedroom Apartments make up the 18 apartments per floor from 1st to 25th floor.

There is also basement plus an additional 4 parking levels per Tower.

No Traffic Problems, No Parking Problems, Low Annual Maintenance Fee’s and an easy interest free payment plan make Rainbow Tower a very good & solid investment be it purely for investment, to rent out, to live in or to resell. Family Residential Visa’s included

Tuesday, 19 February 2008

UAE emerging as overseas property investment hotspot

The United Arab Emirates (UAE) will become the most popular emerging country for overseas property investment during 2008, according to a survey of investors carried out by Homebuyer and Property Investor Show (HPIS).

The World Travel and Tourism Council (WTTC) expects tourist numbers to the Middle Eastern federation of states – which were initially created by Britain to alleviate fears of piracy in shipping lanes – to reach 14 million by 2015, which could make the area attractive to investors.

Perhaps the most well know of the emirates is Dubai, which already has a developed property investment sector.

According to HPIS, annual capital appreciation in the region is some 25 per cent – with further potential to invest likely to emerge in the future.

One of the key developments in the country is Dubailand, which is likely to form a major attraction for tourists.

The complex will be made up of six zones including theme parks, an eco-tourism desert resort, a Tiger Woods golf course, and an indoor ski resort. When the project is fully completed in 2015, the development will be twice the size of Disneyland.

"Dubai is the financial, business and tourism capital of the region, and has attracted investors from across the globe due to its potential for significant rental yields and the price appreciation of freehold properties," said Saeed Al Qatami, managing director of developers Deyaar.

Other UAE opportunities exist outside of Dubai. For example, Ajman, the smallest emirate, which was once a small fishing village, is also developing fast.

An international airport is scheduled for completion in Ajman in 2011, with prices expected to increase by between 15 and 20 per cent annually over the next five years.

"Ajman benefits from similar tax incentives as Dubai, but the cost of properties is much less. This in turn has attracted a huge number of investors, both local and international," said Mark Woods, business development manager of Key4International.

The average 805 sq ft property in the county costs around £45,000 – half that of a similar home in Dubai.

"The new airport will certainly be attractive to tourists and business travellers. However, until that is completed, the emirate can be easily accessed from Dubai International Airport," continued Mr Woods.

"There is also a local market; many local workers in Dubai cannot afford to rent there. So Ajman offers an alternative in terms of cost and location."

Dubai Property Delays

Dubai: Property prices have quadrupled in Gulf Arab countries due to surging demand for housing and office space created by economic growth and windfall revenues from a 5-fold increase in oil prices since 2002. Dubai, the Gulf commercial hub, has already set an annual rent cap of 5% for 2008, tighter than last year's 7% cap and the 15% ceiling of 2006.

Jones Lang LaSalle expects a supply surplus in Dubai between 2010 and 2012. This adjusts the global real estate investor's previous forecast that supply would surpass demand between 2007 and 2009.

Real estate prices and rents in the Gulf Arab region, especially Dubai are most likely to rise by up to 20% in 2008, due to higher labor and construction costs and delivery delays, says market analyst, Jones Lang LaSalle.

Blair Hagkull, Regional Managing Director, Jones Lang LaSalle in Dubai, said, "With the delays in delivery, the specter of huge supply continues to be delayed and you see greater demand... there will also be an increase in labor and construction costs and land prices".

Of 57,000 residential units expected in Dubai in 2007, less than 20% were delivered by September, Cairo-based investment bank EFG-Hermes said in a report that month. It said then it expected a rise of 5-10% in property prices in 2008.

Sunday, 10 February 2008

Buying Property in Dubai to Let

As the property market in Dubai continues to explode, along with the population, many would be investors are eyeing this emirate with extreme interest. If you’re considering buying property in Dubai you are in excellent company, with investors coming from all over the world at the present time, this little region is on fire with growth. Should your intent be to buy-to-let real estate in Dubai however, there are some things you should keep in mind.

Dubai is a popular expatriating, holiday and investment market, but its government is serious about a few things. Just as sure as the Dubai landscape is beautiful, warm and loaded with activities, the government takes its own rules very seriously. In this article, we’ll explore buying property in Dubai to let and one particular practice that could get you in trouble if you don’t know what you’re doing.

To keep renting property in Dubai affordable for residents, the government passed a rent increase cap in 2005. This cap set into motion a 15% price increase limit. This law was further amended in 2006 to lower the cap to 7%. The law was passed in response to incredible hikes in rent in some areas. Residential property tenants were complaining about rises as much as 30% making housing prices simply unaffordable.

Whilst the price controls were put into place to keep living in Dubai at least economically reasonable, some property owners are failing to pay attention to the law. Some are blatantly ignoring the regulations and others are finding ways to circumvent the system.

Wanting to quash overabundant price increases and discourage circumvention of the law, Dubai’s Real Estate Regulatory Agency is now urging renters to turn in their landlords who violate the rules. The Gulf News is reporting that the agency’s head, Marwan Bin Galita, is encouraging tenants to refuse to sign rental agreements that ask for more than 7% and is also asking them to file formal complaints.

With rents and inflation bearing down on the populace, keeping prices in the moderate growth range has been deemed important by the government. Whilst this can make investors a little weary, the controls do make sense on a practical level. If landlords increase their rents too much too quickly, they might just price themselves out of the market.

As Dubai works very hard to establish itself as the world’s new playground, investments here are paying off very well for some. Even with the 7% cap in rental price increases, rental yields are reported in the 10% range in many communities. This is a rather tidy sum for savvy investors to appreciate. Add to this the fact that Dubai’s popularity is ever increasing and the potential becomes even more attractive.

Buying property in Dubai appeals to many investors with a desire for high growth potential. If buying-to-let is your plan, follow the rules and the Dubai government will welcome you. Refuse to do so and your tenants just might turn you in.

Dubai Property Buying Process

Until 2002 it was not possible for foreign nationals to own freehold title to property in Dubai...however, in a bid to boost investment into Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum announced that he would change the laws back in 2002 and a property boom ensued.

Until 2006 however, the law change was not in effect and those who bought beforehand took a significant risk. They were also the ones to gain substantially from the huge rise in real estate prices that the emirate has enjoyed! Nowadays buying property in Dubai is incredibly straightforward and safe, and you can even get mortgages locally or internationally to assist your purchase. In this article we cover the Dubai property buying process.

If you’re buying a property off plan or during construction the process naturally differs a little to when you buy a completed or resale home. Off-plan or real estate in Dubai that is under construction is selected by a buyer and a reservation payment of up to GBP 2,000 is made whilst purchase contracts are drawn up. This reservation fee is non-refundable. Once a purchase contract has been drawn up and signed by the buyer and representative of the vendor, a deposit is required and then payments are made in stages during the construction process. Buyers who choose this method of property purchase should ensure that their stage payments relate to a stage in construction being met and not a time period having passed. This is because some developers encounter construction delays and a buyer should not have to pay anything until a certain amount of progress is made on their property.

It is usual for a buyer who selected a Dubai property off plan to hold back a small final percentage until completion to ensure the construction is completed properly. Once final inspection has been made, keys have been handed over and possession of the property has been taken over by the buyer, deeds will be transferred into the purchaser’s name.

One of the additional benefits of buying property in Dubai is that purchasers are given residency rights in the emirate. These rights apply whether you buy new or resale property. If you choose to go for the latter option then the buying process is slightly different to that covered above. For a start an offer has to be made to the vendor – this is usually only a verbal offer and, if accepted, both parties in the sale sign a preliminary sales contract and a deposit is paid...this can be up to 10% of the purchase price. This deposit is generally non-refundable unless the vendor withdraws from the sale which they can only do under exceptional circumstances.

If a buyer will require a mortgage in Dubai they must have this agreed in principle before signing any contract and parting with any money. This is because whilst mortgages are even available in Dubai from the likes of Barclays Bank nowadays, the lending criteria to be met are sometimes tough.

With a mortgage agreed in principle, a lawyer instructed to act on the buyer’s behalf, a verbal offer made and accepted and a preliminary sales contract signed and deposit paid, any conditions of that sale that have to be met such as successful searches being completed etc., a final contract is drafted and signed and all monies remaining are transferred. Finally, the property for sale is transferred into the name of the new owner.