Wednesday, 18 June 2008

Burj Dubai to grow taller

Emaar Properties, the developer of the world’s tallest building 'Burj Dubai', has announced that the height of Burj Dubai will be increased further, and the work towards realizing this is already progressing. The final height will however, be revealed on its completion in September 2009.

Construction of two communication floors has already begun, and the structural steel work has started. Apart from increase in height, Burj Dubai is also likely to have its interior finishes upgraded. International designers from California have been revisiting the designs to make the residences more attractive and functionally superior. This process is being carried out over the past three months, with prominence given to maintaining high-quality standards.

The Chairman of Emaar, Mohamed Ali Alabbar, said "Burj Dubai is an unparalleled accomplishment in the history of mankind. The tower has been setting new benchmarks in architecture with its driving forces such as cutting edge innovation, breakthrough technology and creativity. It is now pushing its own record breaking standards further, through enhancements in height and design."

"The enhancements on Burj Dubai are being done through advanced technology and qualitative improvements. Several aspects of Burj Dubai, such as the interiors were decided in 2004. With current enhancement, we intend to introduce latest in quality considerations that will keep Burj Dubai truly exclusive," he added.

Standing high at 636 meters, Burj Dubai is already the tallest building and structure in the world. The tower has the largest number of floors than in any building. About 7500 professionals and skilled workers are employed on-site, and various infrastructure building works are being undertaken.

Sunday, 15 June 2008

Celebrity Used To Promote Dubai Property Market

What have Tiger Woods, Boris Becker, Giorgio Armani, Greg Norman and Brad Pitt have in common besides being incredulously famous and rich? The answer is, they all support the property boom that is currently happening in Dubai.

Using these celebrities on a global scheme, marketing them in conjunction with new developments and ritzy hotels is supposed to drive more interest to this already wealthy city and emirate.

Brad Pitt is the latest to join the long list of celebs who have buddied up with Dubai developers in the past. He is set to design a five star resort for a new company in the industry called Zabeel Properties. The hotel will feature 800 rooms which will be built environmentally friendly. Mr. Pitt will work with Los Angeles based architecture firm Graft LLC.

CEO of Zabeel Properties, Robert Norton says: “Our master plan and design concept will be world-leading and we’re delighted to be collaborating with Brad Pitt and the team at GRAFT, which is recognised for its innovative building design. This project will display our uncompromising focus and commitment for developing high quality and environmentally-sustainable real estate in this region.”

The development will be built with a social conscience and eventually become host to award ceremonies and glamorous events. The hotel location is yet to be announced.

Dubai, the second largest emirate in the U.A.E. after Abu Dhabi expects some $50 billion dollars in real estate investments by 2010. Even though the market has been scandalised recently by some of the biggest players in property within the emirate.

The celebrity marketing strategy in Dubai seems to be working at the moment. Very recently, 70 golf villas attached to a Greg Norman designed and endorsed golf course with humble asking prices between $4m-$8m each, sold out within a week.

Former Grand Prix Formula 1 star Nikki Lauda will lend his face to be emblazoned across a new office tower planned by ACI Real Estate in Dubai. The tower will be one of three and cover 16,000 square feet of space.

Global Property Recession - UAE unaffected

In the wake of a looming global recession, property markets worldwide are experiencing major shake-ups that are certain to have far-reaching consequences. As they grapple with rising inflation, oil and food prices, the UK, the US and the Asian real estate markets are increasingly showing signs of a meltdown. But the Middle East, especially the UAE seems to have bucked the prevailing trend. The UAE economy attained an overall growth of 7.4 per cent in 2007 over 2006. Oil revenues averaging US$ 69.1 billion constituted 35 per cent of the UAE GDP in 2007, but it was the non-oil sectors, mainly real estate and construction that made a major impact, accounting for 65 per cent of the Gross Domestic Product
As the UAE economy develops, its real estate sector has blossomed into an attractive investment market, offering solid returns. Dubai is currently one of the world's top ten expensive commercial property markets, according to a report by CB Richard Ellis.

In the study, Dubai debuted at number 10 with an occupancy cost of US$128.49. With a near-doubling of occupancy costs, Moscow has climbed four places to second at US$232.37. Ranked 13th worldwide, Midtown Manhattan is still the priciest market in North America at US$103.43.

Sunday, 8 June 2008


Arjan lies between Emirates Road to its south and Umm Suqeim Road to the east and is located at the Dubailand interchange which is currently under construction. It will incorporate medium-rise residential, commercial, retail, event, leisure and cultural developments.

EMIRATES PEARLS, 2 X 25F Res (Ajman Emirates City)

Emirates Pearls Tower-1 is a residential building (G+4P+25T+HC+HP) developed by Afkar Investment & Development, a UAE based Company. Emirates Pearls also incorporates a variety of on-site recreational facilities.

3D Venture Real Estate has been appointed as Exclusive Marketing Agent to market and sell the apartments.

Emirates Pearls Tower 1 and Tower 2 are strategically located at Emirates City, Ajman on plot no. A-13 & A-14.

Afkar Engineering Consultants, with their offices based in Dubai and Sharjah, are leading design consultants.

o Spacious One and Two bedroom apartments
o En suite bathrooms
o Spectacular views of Emirates City
o Health club with gymnasiums
o Linked underground parking.
o Helipad at the top of the building.
o Contemporary tile / stone floor and wall finishes
o Modern interior designed quality kitchens
o Contemporary interior designed bathrooms and cloakrooms
o Modern glazed façade
o High quality electrical and mechanical services
o On-site security and security systems
o High technology TV and data systems
o Safety systems including sprinklers and zoned alarm systems
o Modern interior designed high quality circulation areas
o Prestigious entrance and reception area

Construction is anticipated to start by the end of this year and the development is expected to be completed by June 2010.
Parking at a price of AED 35,000 per apartment, there will be ample parking available for visitors. Additional parking is also available @ AED 35,000 per car park.
After payment of minimum 25% you can sell your property anytime Transfer fee of 2% will be applicable from the new owner. All re-sales must be recorded through 3D Venture Real Estate and approved by the Developer.

Apartment Details

Type Total Area (Sq Ft)
1 Bedroom 739
1 Bedroom + Study – 920-1004
2 Bedroom 1271

Wednesday, 4 June 2008

Rents in Abu Dhabi to continue to soar

Rents in Abu Dhabi, although have reached their maximum best, are likely to increase further, during the next few years, in view of the worsening shortage in supply, reveal recent reports.

According to the Abu Dhabi Chamber of Commerce and Industry The low and middle income expatriates will be the worst affected with the increase in rents, which have more than doubled during the past three years, while the salaries have remained the same.

After years of stability during 1990s and 2000, the property market in Abu Dhabi witnessed a jerk in 2006, due to the strong domestic demand, caused by an economic upsurge that shot up rents to sky-high levels, despite the introduction of rent caps by the government.

The Chamber reports that although the real estate market in the capital was more or less stabilized in 2005, with the 287,000 housing units being able to cover the domestic demand, a surge in demand during 2006, did not meet a similar supply growth. This resulted in a shortage of 3000 units. During the year 2007, the demand-supply gap was more than doubled and touched nearly 8000 and is further expected to touch 20,000 by this year.

The Chamber, in its report, states "Most housing units which will enter the market this year will cater to the hig-income sector, while the low and middle-income category will be the victims of shortage and rent increases."

"We expect a record supply shortage in housing units, which exceeds 20,000. This will aggravate the property situation in the emirate, pushing it from bad to worse, which in turn will affect the economic activities in the emirate and push inflation to new record levels," the report said.

According to property dealers, rents in the capital have increased by more than 25 percent in 2007, and by 15 percent during first quarter of this year. The increase has been attributed to the huge increase in demand and rapid growth in population, an intensifying influx of expatriate workers due to surge in projects in the Capital, failure by landlords to abide by the rent caps, and the concentration of property developers on costlier properties that caters to high-income sector.

"Buildings that are under construction in Abu Dhabi will cater to only 20 percent of the demand. This will only widen the supply shortage, and when coupled with the population growth, it will push rents to record high levels. As rents account for more than 40 percent of consumer spending, this increase will further aggravate inflation in the emirate," states the Chamber report.

Abu Dhabi has one of the highest per-capita incomes in the world, projected to touch Dh.225,000 in 2008. As per figures by the Abu Dhabi Department of Planning and Economy, population in Abu Dhabi has grown by 12.6 percent, and is likely to grow by 7.5 percent his year, which is one of the highest in the world.