Thursday, December 27, 2007
Swift progress of construction work at Sobha Ivory I and II Sobha Group
Swift progress of construction work at Sobha Ivory I and II Sobha Group, the well-known Indian-based realty developer, is making swift progress with its first two commercial projects, recently launched in Dubai.
The construction work is progressing in full swing at the Sobha Ivory I and Sobha Ivory II towers at Business Bay, as the Indian realty giant continues to leave its impression in the Middle East market. The sales of Sobha Ivory I and Ivory II real estate projects were complete within 8 months, which indicates the growing popularity of Sobha with investors and end-users.
The iconic and modern business towers offer commercial and retail space that has been sold on a freehold basis. The Vice Chairman of the Group, Ajay Rajendran, said that Sobha Ivory I and II have marked the entry of the group into Dubai, as a property developer, and that they are thrilled by the phenomenal success of the projects, which were sold in record time.
Tuesday, December 25, 2007
Bavaria launches Sandoval Apartments; signs loan agreement with Mashreq
The German boutique developer, Bavaria Gulf, has announced the launch of first phase of 'Sandoval Apartments' at Jumeirah Village, which had earlier made its grand entry into Dubai realty sector through the launch of 'Sandoval Townhouses'.
The project will consist of 165 mid-range apartments with high-quality German precision, certified by TUeV, the most stringent and independent quality evaluators in the world. With seven G+4 buildings, Sandoval Apartments will include 57 studio apartments, 17 two bedroom apartments, 81 single bedroom units, and 10 special duplex apartments. These apartments, which range from 680 to 2700 Square feet, will be sold at a high value driven prick bracket.
The Managing Director of Bavaria, Raymond Lefevre, said "Our previous launch of Sandoval Townhouses, proved to be a real eye opener for us. Now, Sandoval Apartments follows suit, offering high-quality, yet, luxurious, functional and value-driven realty concepts."
Bavaria is also one of the first mid-segment realty developers in Dubai, to sign home loan agreement for all its future and existing projects with Mashreq, one of the largest private banks in the Middle East. The customers of Mashreq will benefit from customized home loan packages, apart from enjoying upto 90% on sales price for all existing and future Bavaria Gulf projects, with attractive interest rates for the next 25 years.
Mashreq will offer Bavaria customers with a variety of convenient financing options and attractive rates, apart from other benefits such as the lowest down payments, apart from providing them with the benefit of owning the property of their dreams.
Thursday, December 20, 2007
Pearl Dubai FZ LLC reveals purchase of Dh 3bn Dubai Pearl
A Consortium of investors, Pearl Dubai FZ LLC, led by the Al Fahim Group, Abu Dhabi-based group, has announced that it has purchased and repositioned the $3billion worth Dubai Pearl real estate development.
The project, located within the Dubai Media and Technology Free Zone (TECOM), facing The Palm Jumeirah, will cover a built-up area of more than 15 million square feet.
Abdul Majeed Al Fahim, the Chairman of Board of Directors, Pearl Dubai, while speaking during a press conference, mentioned that Dubai is growing at an unprecedented pace, and that 'Dubai Pearl' will be a unique addition to the real estate landscape of the emirate.
Dubai Pearl is an integrated, mixed-use sustainable development with all major components located within 400 meters of each other, and is expected to be complete by December 2010.
The residential segment of Dubai Pearl Towers will include Sky Palaces with private gardens and pools, Sky Penthouses, luxury-branded condominiums and apartments. It also features boutique, offices, renowned hospitality brands, state-of-the-art theatre with a capacity for 1500 to 2000 people, a luxury fashion precinct located within a premier shopping mall, cinemas, and multi-cuisine food courts.
The construction of 'Dubai Pearl' would begin immediately. The project is considered to be unique, as the infrastructure amenities, including a well-linked road network are all in place, facilitating easy access to all major residential and commercial areas such as the Jumeirah, Dubai Internet City and Dubai Media City.
Monday, December 17, 2007
Waterfront Residences building contract awarded to Mammut Group
Nakheel, the Dubai-based largest and most innovative real estate developers in the world, has awarded the first building contract for residences at Waterfront to Mammut Group, an UAE-based building and construction enterprise.
This will result in creation of first apartments and duplexes at the development, and is scheduled for completion by 2009.
Nakheel is developing an iconic portfolio of excellent landmark real estate projects in Dubai across a wide range of sectors like commercial, residential, leisure and retail. The developments of Nakheel would spread across more than 2 billion square feet of land, projected to be worth $60billion. On completion, the water front projects of Nakheel will cover about 1000 kms of Dubai's coastline.
Saturday, December 15, 2007
Al Osaimi Group launches Dh.1bn luxury resort at Palm Jumeirah
The Al Osaimi Group has confirmed that the construction work of the $272million (Dh.1 billion) luxury resort at The Palm Jumeirah, is progressing as scheduled, and will be ready by first quarter of 2008.
The Kuwait-based developer has taken the help of several firms for project consultancy, contracting and enabling works and project management, as this is their maiden project in the UAE. The project is located on the Crescent of The Palm Jumeirah.
During the first quarter of 2008, the developer will launch one million square foot project, in accordance with the agreement signed with Dusit International, one of the prestigious Thai hotel chains in the world.
At present, Al Osaimi is carrying on with the final stages of escrow registration process in compliance with regulations laid out by the Dubai Land Department, thereby preparing to launch early next year.
The project that spreads over an area of 95,000 square meters on The Palm Jumeirah, comprises a seven star luxury hotel, a five star family resort, and an upscale residential complex that includes 178 posh freehold townhouses, penthouses and a dozen chalets.
Being designed in traditional Indian manner, the hotel has 116 guestrooms and suites, while the Moroccan-themed family resort has 292 rooms and suites. The hotels offer excellent dining, themed landscaping, ballroom, and state-of-the-art amenities. The luxurious development will also include renowned Deverana Spa by Dusit, an authentic Thai-inspired rejuvenation, apart from internationally acclaimed service of Dusit International, incorporating Thai culture and hospitality.
Right from its inception 25 years ago, the Al Osami Group, has handled several projects in Kuwait, and in the Middle East, including commercial, residential, hospitality and retail developments. The company has a rich portfolio that covers various sectors including, construction, real estate investment, engineering, while the subsidiary firm of the group has spearheaded for 15 projects including the group's development on The Palm Jumeirah.
Tuesday, December 11, 2007
Ground-breaking held for Indigo Spectrum 1 and 2
One of fastest growing real estate development companies, Indigo Group, has announced the ground-breaking of their project, Indigo spectrum 1 and 2 in the Central District of International City, Phase 1 in Dubai.
The eight-storey Indigo Spectrum 1 and 2 comprises exquisite residences, with single, double and triple bedroom apartments, and feature a rooftop pool, ground floor retail, and fully equipped gym that represent contemporary metropolitan living.
The Director of Indigo Properties, Anand Lakhiani, expressing his delight over the construction, said that Indigo Spectrums 1 and 2 are set to deliver an exciting living experience at International City. He said that he was confident about the concept being embraced by the market, which would make way for a series of stylish, affordable living solutions.
Thursday, November 29, 2007
UAE Realty market expected to stabilize with the execution of Strata Law
The professionally implemented Strata and Facilities Management is widely expected to enhance the quality of life, and investor confidence in the UAE, thereby bringing about more stability in the UAE real estate market.
Dubai, as a part of its streamlining process, is likely to launch a Strata Law soon, which would streamline its local realty market, through adoption of best international practices.
The Strata Management will cover all common facilities shared by both owners and tenants, such as the fire services, parking, lifts, air conditioning, walkways, gymnasiums, pools, gardens and other common property. This is vital in maintaining high-quality living environment, keeping in mind, the health and well-being of all residents, while also maintaining cordial stakeholder relations.
The Chief Executive Officer of BCS Strata Management Services, Peter Crogan, while speaking at the Facilities Management Conference in Dubai, noted that the UAE property market, particularly Dubai, has entered a phase of proper regulatory frameworks and asset management protocols.
The region has witnessed high volume of investment and property boom, with spectacular and extensive developments being launched, the sustainability, of which, could be guaranteed only through professional management of assets, he added.
Thursday, November 29, 2007
ETA Star delivers new mixed-use realty development 'The Palladium'
A leading UAE realty developer, ETA Star, has announced the delivery of the luxury mixed-use development 'The Palladium' at Jumeirah Lakes Towers on Sheikh Zayed Road, Dubai.
The luxury development, which features 34-storey office and retail and residential complex with single, double and triple bedroom apartment and penthouses, has been handed over to the respective owners.
Located in the heart of Jumeirah Lakes Towers, 'The Palladium' captures the charm and essence of sophisticated lakeside lifestyle. Spreading over half a million square feet in area, it is a state-of-the-art high-rise development, comprising coffee shops, restaurants, and boutiques in the lobby.
The Executive Director of ETA Star, Abid Junaid, mentioned that 'The Palladium' being, one of its major projects, the company has been able to keep up its promise, thereby deeply enrooting the trust that the customers have placed on the company.
Thursday, November 29, 2007
Innovative building with Sandwich Panels at Al Reem nearing completion
The first building built without any wood or steel or concrete, is nearing completion on Al Reem Island of Abu Dhabi. The building, constructed with 'sandwich panels' is made of composite materials that are usually used in making new generation aircraft, including the Airbus 350 and Boeing 787.
The project is expected to be the new corporate office of Tameer Holding, which is currently working on a $1.9bn complex on the Al Reem Island.
The techonology which emphasizes on cost-saving and faster construction, has been introduced to the region by the InnoVida Group in collaboration with Safeer Group, a UAE based company. InnoVida is a US multinational company with operations in Africa, Germany, Central and South America and Middle East, which came to limelight with Pyramid, installed at Hyde Park in UK by the renowned pop star Romero Britto.
The Chief Executive of Tameer, Dr. Abdallah Shaaban, said "We hope our building on Al Reem will be the first structure to inspire other builders in adapting this technology and will go a long way in saving construction time and energy."
Tuesday, November 27, 2007
Barwa launches Ajman Corniche Residence
The Barwa Real Estate, a Qatari developer, has unveiled a group of seven interlinked towers in Ajman Corniche Residence, reports Gulf News.
areas, shopping malls and entertainment centers, strategically connected to each emirate in such a way that it is 10 minutes away from Sharjah, 5 minutes away from Ajman and 30minutes from the Dubai Airport.
Ajman Corniche Residence is supported by the Ajman Government and is the freehold residential development of Ajman.
The interlinked towers ranging from single to four bedroom sea-view apartments, with a range of 1344 to 5909 square feet in size, comprises landscapes, gardens, and a hoard of other amenities such as sauna, pool, steam room, relaxation area, Jacuzzi, children's play ground, pavilion, and health clubs, all in a luxurious affordable setting meant for commercial or residential purposes or investment.
The project which is expected to be complete by 2010, is 100 percent owned by Barwa International.
Tuesday, November 27, 2007
Mizin Remraam Phase I units sold out successfully
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.
Sunday, November 25, 2007
Ajman I development meets 75% sale within a year of launch
Aqaar LLC has announced that nine out of twelve residential towers of the Dh.2.7billion mixed-use development in Ajman 1 has been completely sold out.
Spread over an area of 72,000 square meters of area, the Ajman 1 realty comprises 16 towers, a convention center, and retail and leisure amenities.
The Head of Ajman Municipality, H.H. Sheikh Rashid bin Humaid Al Nuami, said that they had targeted a sale of 50% of the project within the first year, and now 9 out of 12 towers have already been sold out, within a year of launch.
Aqaar has announced that it has entered into a deal with the Abu Dhabi Commercial Bank for a major package for financing the construction of Ajman 1. As per the deal, the Bank will provide a fixed term loan of Dh.600 million for construction of the real estate project in Ajman.
Saturday, November 24, 2007
Indigo properties begins construction of Indigo Optima 1 and 2 at Dubai Industrial City
One of the fastest growing real estate development companies, Indigo Properties, has announced the construction of two developments, Indigo Optima 1 and 2, at the Dubai Industrial City.
Both the mid-rise developments will offer business space within the International City Phase 1.
The Director of Indigo Properties, Ramesh Sawlani, expressing his pleasure over the commencement of construction work, said that Indigo Optima will bring about a new dimension to the already diverse portfolio of the company. He pointed out that Indigo Properties has been providing exciting and relevant projects for Dubai.
Indigo Optima 1 and 2 will feature 'mix and match' commercial and retail space, designed to provide the exact flexibility that the Dubai businesses are currently looking for.
The project is expected to be complete by July 2009
Thursday, November 22, 2007
Dubai Studio City commences first phase of construction works
A member of TECOM Investments, Dubai Studio City (DSC) has announced that the construction of Phase I of its commercial complex has commenced, and will be complete by December 2008.
Most of these are located between the residential and commercial developments near Sheikh Zayed Road and Interchange 4 in Dubai.
Spread over 490,000 square feet, the development will have a range of office spaces, suitable for small and medium business set-ups, freelancers, production houses, and animation and graphic design companies.
Dedication to the growth of radio production, film, TV, post-production and broadcast industries in the region, the Studio City will comprise 14 sound stages, and an area of 3.5million square feet for commercial offices, a business center, pre-built studios and post-production studios.
The Director of Dubai Studio City, Jamal Al Sharif, said that they are investing in developing a state of the art model which will help the partners in conducting a seamless operation. The Commercial Complex at the Dubai Studio City will comprise customized office space, to meet the needs of post-production companies.
Tuesday, November 20, 2007
Emaar Malls Group completes Gold and Diamond Park expansion
The Emaar Malls Group, a subsidiary of Emaar Properties PJSC, has completed the second and third phase of Gold and Diamond Park expansion, with the number of gold and jewellery retailers, being tripled, with new office blocks being established to house 118 manufacturing units and 350 commercial units.
Most of these are located between the residential and commercial developments near Sheikh Zayed Road and Interchange 4 in Dubai.
The Gold and Diamond Park, launched in May 2001, offers various commercial and retail business opportunities. It also comprises a restaurant, several cafes, and an underground parking with a capacity to park more than 750 cars. Apart from jewelery and gold trade, businesses from all sectors have opened offices within this commercial hub.
The General Manager of Gold & Diamond Park, Taher Badri, said that the Gold & Diamond Park has expanded significantly in size, and this will further enhance its reputation as a much sought-after location for a variety of businesses. The range and diversity of the business offerings in Gold and Diamond Park, makes it a leading destination and a centralized place, to conduct business of diamond and gold jewellery.
Monday, November 19, 2007
Al Madar launches Dh300m Siraj Tower
A leading GCC property developer, Al Madar Property Investments, which is also a part of the Al Madar Group, has announced the launch of its Siraj Tower, worth Dh.300m, located at Arjan, Dubailand.
The thirty storey residential tower comprises a studio, single, double and triple bedroom apartments, and houses world-class amenities, presenting an ultra-luxurious residential offering to its investors.
The design of Siraj Tower draws inspiration from Roman and Spanish architecture. According to the Managing Director of Al Madar Group, Haider Abdula Reda Mashhadi, the Siraj Tower, with its attractive design, interiors and amenities, is the most sought-after residential projects in Dubailand.
The tower has a Homenet system that offers additional lifestyle and security facilities for easy living and better access and control.
The construction of the tower will begin during May 2008 and will be complete by mid-2010.
Al Madar, since its launch in Qatar during 1992, has grown to be a premier business house in Gulf, and has established its presence in various sectors including, engineering, real estate, contracting, trading and manufacturing.
Sunday, November 18, 2007
Nagarjuna Construction forays into Dubai Realty market with Dh.1.5bn NCC Harmony
A leading Indian construction conglomerate, NCC Urban Infrastructure Limited, a subsidiary of NCCL (Nagarjuna Construction Company Limited), has launched a Dh.1.5bn freehold mixed-use development at DuBio-ech (Dubai Biotechnology and Research Park).
The twin tower project, NCC Harmony, covering 2.3million square feet of built-up area at the DuBiotech free-zone is the first project by the company in Dubai. The development is located in the heart of New Dubai, adjacent to Dubailand, Arabian Ranches and major shopping centers.
NCC Harmony comprises two 32 storey towers with one residential and one hotel apartment, comprising single and double bedrooms, and studios.
NCC Harmony is supported by NCCL, an ISO 9001-14001-18001 certified Group, rated as 'Best Under Billion' by Forbes Asia, in Asia Pacific during 2005. The Group has an annual turnover of Dh.3billion, and is the largest construction groups in India.
The construction works of NCC Harmony has been handed over to Dutch Foundation and Concrete Processing Co. LLC with the excavation, piling and shoring works already commenced.
The development is slated for completion by May 2010.
Saturday, November 17, 2007
Emaar to host sales of Platinum Collection homes in Downtown Burj Dubai
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.
Friday, November 16, 2007
Al Moosa plans UAE expansion
Al Moosa Enterprises, the owner and operator of Golden Sands Hotel Apartments in Dubai, announced plans to open other properties under the same brand name in Sharjah, Fujairah and Abu Dhabi.
The current portfolio of Al Moosa comprises serviced apartments with 11 Golden Sands, 3 Silver Sands, and an inventory of 1800 accommodation units.
The General Manager of Golden Sands, Mohammad Khoori, said at present Al Moosa plans to have atleast one Golden Sands in Sharjah, Abu Dhabi and Fujairah.
Khoori added that the group also plans to invest in several other new hotels, managed by international chains, while the negotiations are also on for management contract for a four-star hotel in Jumeirah Beach Residence, and a five-star hotel in Palm Jumeirah.
Apart from this, Al Moosa is also the owner of two Hilton-managed properties, and one Four Points Sheraton hotel, which is operated by Starwood in Dubai.