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'Smith And Ken Launches Real Estate Recovery Scheme' => '
Following the successful launch by Smith and Ken, Dubai\'s leading real estate agency, of their Real Estate Recovery Scheme, CEO Benjamin J Smith has announced that the response has been incredible with over 1,500 enquiries within a week of the launch.
Smith stated: "Whilst we planned to handle a large number of enquiries, this has pleasantly surprised us. Already we have witnessed 27 successful transactions within the first four weeks. There\'s nothing more pleasing when you can solve your investor\'s problems."
The Real Estate Recovery Scheme Real was set up to aid investors who have lost their money and life\'s savings on off-plan property investments in the UAE. Sensing the desperation in the situation and the need for a speedy revitalization, Smith and Ken\'s Real Estate Recovery Scheme (RERS) immediately helps investors recover the monetary value of their real estate investments through a like for- like credit note to the value of what they have already paid against one of Smith & Ken\'s properties.
It also means that instead of waiting for a building to be completed, those in the scheme can choose a new property, and once you\'ve done that, we deduct the amount you\'ve already paid from your new apartment, office space or plot of land.
Based on the initial response of the scheme, Smith stated: "I now intend to extend the scheme until all our customers have found a solution, so it\'s very much a busy summer for Smith & Ken. It\'s great our innovative ideas and strategies have solved so many people\'s failed property investments.
"The most important thing was to find a solution, rather than just sit and wait, and we have done that so our focus is now ensuring that anyone who has lost money in an off plan project we sit down with them and try to find a way to re-align the investments to achieving the target they intended originally"
For more information, visit www.smithandken.com.
For Media Enquiries, please contact
Tatiana Boustany
Smith & Ken
Ph: +971 (0)4 4394300
',
'Rental Growth For Dubai Property Up 22 Per Cent' => '
A slight slowdown of rental growth during the first half of 2008 will not last for long, according to Dubai property experts.
In a recent report by Asteco, one of the UAE\'s largest property services firms, rental growth in the 12 months to June this year has been a modest 22 per cent, with the vast majority of this growth occurring in the last half of 2007.
Andrew Chambers, the managing director of Asteco, said the slowdown in residential rents in Dubai property, first observed at the start of the year, continued from April to June. "No significant residential rental increases were observed over the past three months," he said.
The slowdown can be attributed to caps on rental contracts which were brought down from 7% to 5% at the beginning of the year. This has also coincided with supply of Dubai property catching up with demand, although real estate professionals warn this will only be temporary.
Zuber Mohsan CEO for Dubai-based sandcastles-property.com warns that the slowdown of rental growth over the last few months will be short lived. "With more commercial space due to be completed within the next 12-18 months, new workers will be required by companies to fill this space, and these workers will need somewhere to live, therefore demand for property in Dubai will increase pushing up rental yields for investors."
"For investors looking for the best returns on property in Dubai they should look at the villa market," recommended Mohsan. "Rental figures have gone up by 20 per cent between April and June 2008 and the current undersupply of villas in Dubai will continue for some time."
Demand for quality villas for sale in Dubai is expected to be met within the next few years by new projects such as Dubai Lifestyle City, a new luxury development spreading across 3 billion sq ft. The project consists of Italian-style villas, condominiums, duplex and penthouses that are fully-furnished and maintained by JW Marriott. The amenities at Dubai Lifestyle City include a 5-star luxury hotel, sports academy with multi-sports venues, a 4-star sports hotel and a shopping centre.
',
'Ajman Property On Track Following Metro Extension Proposals' => '
Initial discussions have taken place looking at the feasibility of extending the Dubai Metro to neighbouring Ajman. The plans, still in the early stages, would be welcome news for investors looking to buy property for sale in Ajman.
According to the proposal, the Ajman Metro extension would pass through Emirates Road to Al Corniche in Ajman. From there it will go to Al Zawra and then onto new investment areas currently under development.
Sheikh Rashid bin Humaid Al Nuaimi, Chairman of Ajman Municipality and Planning Department has stated that the proposal is only in discussion stage and many considerations still have to be made before anything is finalised.
Zuber Mohsan, CEO for Dubai-based sandastles-property.com commented: "Infrastructure plays a crucial role in any developing area and if these proposals to extend the Dubai Metro to Ajman come to fruition, then existing investors will certainly reap the benefits as prices for off-plan properties in Ajman will rocket."
"Prices of Ajman property are currently a third of what they are in Dubai, and with industry experts already predicting an increase in Ajman property prices of up to 100% within the 12 months, any definite announcement of a metro extension for Ajman will certainly fuel further growth," added Mohsan.
Construction of the Dubai Metro system is well underway, the first phase will be the Red Line and this is due to open in September 2009, with the entire system scheduled to be fully operational by 2012. British-based international services company Serco, who also run the DLR in London and Metrolink in Manchester, will operate and maintain services, including trains, tracks, stations and associated facilities in a contract said to be worth 500m over 12 years.
Up to 600,000 passenger journeys per day are forecast by the Dubai RTA, with extensive park-and-ride facilities to encourage car users on to the trains. The first of 87 five-car metro trains, built by Kinkisharyo, of Japan, was delivered in March and has already been tested up to 92 kmh (57 mph).
The Red Line will immediately achieve another Dubai \'first\' - becoming the largest, driverless automated metro system in the world.
Good news indeed for Dubai and Ajman property investors.
',
'Property For Sale In Dubai Is Buoyant As Oil Prices Surge' => '
As real estate in Europe and the US heads towards a prolonged downturn, property prices in Dubai are heading in the opposite direction on the back of the surge in crude oil prices around the world, with prices of property for sale in Dubai rising by over 75% during the first half of 2008.
Oil prices have gone up by almost 50% in the first half of 2008, compared to 57% during all of 2007, with current prices around $145 a barrel, compared to just $60 a barrel in early 2007.
Goldman Sachs are forecasting oil prices will rise to between $150-$200 a barrel over the next six to 24 months, increasing the likelihood that the property for sale in Dubai is about to enter into a new period of sustained growth.
Zuber Mohsan, CEO for Dubai-based sandcastles-property.com says: "In contrast to the US and Europe, Dubai is currently experiencing an economic boom on the back of rising oil prices. Demand for both commercial and residential property for sale in Dubai is currently fuelling the growth as businesses look to expand and workers look to buy property in Dubai."
Mohsan believes the current trend will see Dubai property prices continuing to rise through the second half of 2008."With oil prices only heading in one direction, property prices in Dubai will continue to rise," added Mohsan.
Rising oil prices have had an adverse effect on the travel industry; rocketing aviation fuel prices has caused several executive airlines to go out of business, including Silverjet, a business class airline operating from Luton to New York and Dubai.
The carrier, along with Maxjet and Eos, its rivals, was founded as an attempt to tap into the rapidly growing business travel market between the UK, New York and Dubai. However, the start-up carriers struggled to match the frequency of flights offered by larger rivals and other perks, such as air miles and went out of business last month. Eos and Maxjet both also filed for bankruptcy protection this year.
',
'Boom Time For Ajman Property' => '
Investors are looking to take advantage of property for sale in Ajman following the introduction of new property laws in the emirate state.
Recently, His Highness Shaikh Humaid Bin Rashid Al Nuaimi, Member of the Supreme Council and Ruler of Ajman, issued Amiri Decree No 7 and 8, 2008, to regulate the emirate\'s land and properties sector, making it more attractive for foreigners to invest in Ajman property.
The new legislation, aimed at strengthening confidence in the real estate market, will allow foreign nationals to purchase freehold land, as they can currently do when buying Dubai property. Other new laws will ensure property developers in Ajman open an escrow account with a bank before being allowed to launch a new project, protecting the investment and ensuring projects are completed, developers will also be responsible for maintaining the project for 10 years following handover.
Real estate professionals say a property boom is under way in the Northern Emirates, with prices of property for sale in Ajman likely to rise by between 60%-100% in the next year. Billions of dollars are currently being pumped into the Ajman property market; prices have jumped from Dh350 per square foot to nearly Dh500 during the last six months, as investors look to capitalise on Ajman\'s growing housing sector.
Zuber Mohsan, CEO for Dubai-based sandcastles-property.com, said: "Property in Ajman is now on a par with Dubai prices five years ago, with Dubai property currently costing up to six times that of similar property in Ajman."
"We expect the prices of property in Ajman to double within the next 6-12 months, and could, over the next few years rise by as much as 250%. If you are looking for a strong UAE property investment, then property in Ajman should be right at the top of your list, added Mohsan."
Ajman is the smallest of the seven emirates and is located north of Dubai, less than 30 minutes drive from Dubai\'s international airport.
',
'Nakheel And Dib Announce Joint Dubai Property Venture' => '
Dubai property developer Nakheel has just announced a joint venture with Dubai Islamic Bank (DIB) for a 2 billion-dirham ($544.6 million) property venture in Dubai.
The new firm, Tashyed, will release plans for two new projects in Dubai within 6 months. One will be residential project in Dubai\'s International City and the other, a lake-front residential development in Jumeirah Heights. The land for both schemes is already owned by Nakheel.
Nakheel is a subsidiary company of state-owned conglomerate Dubai World, and they will provide Dubai property development management and sales & marketing services, while Dubai Islamic Bank will supply banking and mortgage services.
Chris O\'Donnell, Nakheel\'s chief executive said: "The signing of the agreement is a further example of our policy to partner with the best. DIB, with its history as the world\'s first fully-fledged Islamic bank, is the ideal joint venture partner for Nakheel in the financial services sector."
Zuber Mohsan, CEO for Sandcastles property in Dubai said: "The partnership between these two big names in Dubai property and financial services is significant and we are looking forward to seeing the plans for these two new developments in Dubai."
"I\'m certain this new company, Tashyed, will produce something very special given Nakheel\'s reputation as the leading property developer in Dubai" added Mohsan.
Over the last few years Nakheel has developed a portfolio of iconic and innovative landmark Dubai property projects including the Palm Jumeirah, Palm Jebel Ali, Palm Deira, The World, Waterfront, The Universe, Jumeirah Islands, Jumeirah Village, Jumeirah Park, Jumeirah Heights, The Gardens, Discovery Gardens, Ibn Battuta Mall, Al Furjan, International City and Dragon Mart.
',
'Sandcastles Tip Meydan City For The Winners Enclosure' => '
Dubai-based Sandcastles property has reported record interest in the Meydan City and Racecourse development.
Just seven kilometres from the Dubai International Airport and a five-minute drive from Sheikh Zayed Road, Burj Dubai and Dubai Festival City, Meydan City is tipped to become one of the best locations to buy property for sale in Dubai.
Consisting of commercial and residential Dubai property for sale with canal, waterfront and promenade views, Meydan City will support a thriving community. Throughout the streets and parks bicycle lanes will serve as an alternative means of clean and healthy transport, while pedestrian movement will be encouraged with over 7km of promenade walks via climate-controlled arcades. Other features of Meydan City include a first-rate shopping centre and a tranquil central park, filled with greenery, children\'s play areas and walkways.
Meydan City will sit alongside the new Meydan Racecourse, which is due to open in time for the 2010 Dubai World Cup meeting and will be the biggest and most high-tech racecourse in the world. The new racecourse will feature a world-class grandstand, state-of-the-art dirt and turf tracks, training gallops, luxury stables, a championship 18-hole golf course, a five-star hotel with approximately 400 rooms and private villas.
Zuber Mohsan, CEO for sandcastles-proprty.com believes Meydan City and Meydan Racecourse will become one of the most sought after locations for property in Dubai. "The interest levels for Meydan City have been unsurpassed, and connections within the horse racing world have been highly complementary about the plans for the new Meydan Racecourse."
"We\'ve had several clients enquiring about private villas for sale in Meydan Racecourse and we\'re sure property in Meydan City will continue to attract keen interest from investors."
Located at the centre of the city will be Meydan Marina, offering 80 moorings for private luxury boats and yachts. A tramline is also planned to be included, which is likely to operate from the Meydan City to Meydan Racecourse, carrying thousands of passengers each day to the races.
"The sport of kings will soon have its very own kingdom unrivalled anywhere in the world", added Mohsan.
',
'Waterfront Living In Dubai Marina' => '
Dubai Marina Yacht Club is scheduled to open for business in the next few weeks, attracting boating enthusiasts from across the region and beyond. The man-made marina, one of the largest in the world, has been developed by Emaar Properties at a total cost of $1.2 billion.
Dubai Marina will eventually be home to between 80,000 and 100,000 residents and Dubai property portal, Sandcastles-property.com, currently has over 260 properties listed for sale in Dubai Marina, from studio apartments through to luxury penthouse apartments and villas.
Paul Greaves, Dubai property manager for Sandcastles said: "The Yacht Club will be the jewel in the crown of Dubai Marina, the design is stunning and we expect visitors from across the Emirates and Europe to come and experience this fabulous new development in Dubai."
Dubai Marina will have over 550 berths when fully completed, making it the largest waterfront development in the region. The marina is already home to several hundred residents and businesses and features shops, markets, restaurants and cafs along the vibrant Marina Walk.
Earlier this month the Tamani Hotel Marina, the tallest hotel within Dubai Marina, opened its doors to paying guests.
Dubai Marina Yacht Club is far more than just a place for parking yachts," said Mr Steve Stiglbauer, General Manager, Dubai Marina. "It brings in new level of niche hospitality services to Dubai that will appeal to yacht owners and marine enthusiasts. We ensure all our members have a full marina lifestyle experience - be that going out on the water or relaxing on our restaurant terrace looking out over the marina."
With almost 200 new buildings within Dubai Marina, there is no shortage of quality residential dubai property for sale, with properties available to buy off-plan or newly completed in buildings such as The Pentominium, which will be tallest residential building in the world, Princess Tower, Ocean Heights, The Jewels, Marina Plaza and Le Reve to name just a few.
',
'Building The Biggest Sandcastles In Dubai' => '
Dubai-based property portal, sandastles-property.com, has increased the selection of residential and commercial Dubai property for sale on their website.
The total number of properties for sale in Dubai, including off-plan residential apartments, villas and townhouses, as well as commercial property and land plots in Dubai is now over 1900, with a further 200+ properties currently listed for sale or rent across the other Emirate states.
Sandcastles aims to be the largest single portal offering property and land in Dubai. Over the last 6 months it has increased the number of properties listed from 150 to over 2000. This in turn has seen visitors to the Sandcastles website looking to buy property for sale in Dubai go up from 800 unique visitors per month in September 2007 to over 5000 unique visitors in March 2008. Property investors are obviously keeping a close eye on the latest new developments in Dubai, as 58% of visitors to the Sandcastles website in March 2008 were repeat visitors.
Paul Greaves, Dubai property manager for Sandcastles commented:
"We saw visitor figures increase steadily in the first few months of 2008, but between February and April they have doubled. I believe this is most likely down to the strong euro and the fact that property investors are now looking outside the euro zone at markets such as Dubai to invest in property".
Over the last 10 years Dubai has seen a huge rise in the number of new residential and commercial properties being built, with entire new resorts, such as The Palm Jumeriah and The World constructed on reclaimed land. There are also a number of new iconic buildings such as the Burj al Arab, the world\'s tallest hotel, and the soon to be completed Burj Dubai, the tallest building in the world.
"The number of listed properties for sale in Dubai on the Sandcastles website has grown rapidly during the last six months and we now have every major new development in Dubai listed", added Paul Greaves.
"The growth of the property market in Dubai has been phenomenal and our goal is to provide users of the Sandcastles website with the largest selection of Dubai property on a single and easy-to-use portal".
',
'Sandcastles To Launch Dubai Property Investment Blog' => '
Dubai\'s leading property portal, sandcastles-property.com, is adding a new blog section to their website.
The regularly updated property blog will allow Dubai property investors and holiday home buyers alike to keep up-to-date on the very latest Dubai property news, research, statistics, new developments and market analysis. Users will be able to subscribe to receive the latest Sandcastles property blog by email.
With an ever increasing portfolio of property for sale and rent in Dubai, Sandcastles is committed to provide potential clients with as much relevant information as possible on the current property market in Dubai.
Paul Greaves, Dubai property manager for Sandcastles said: "With such a large selection of new developments and resale property available, it\'s important for us to give clients up-to-date news on the latest property investments in Dubai and elsewhere in the UAE.
"The majority of property agents in Dubai work on commission only and will therefore generally only promote properties they receive a higher commission for. Because Sandcastles are not an agent in that sense, we can provide totally impartial advice on current property trends in Dubai and supply details of potentially all new developments released for sale in Dubai. The blog will cover every angle of the property market in Dubai, Abu Dhabi and other Emirate states."
The first Sandcastles property blog will be published today at www.sandcastles-property.com/property-blog
',
'Abu Dhabi And Dubai Property Showcased At Cityscape 2008' => '
Cityscape Abu Dhabi 2008, the international property investment and networking event will take place at the Abu Dhabi National Exhibition Centre from May 13-15.
The Cityscape event brings together regional and international property investors, architects, designers and property developers involved in the design and construction of commercial and residential property or sale in Abu Dhabi, Dubai and other Emirate countries.
The event is a key date in the calendar for Sandcastles-property.com as Abu Dhabi is currently the second largest market for property investment in the UAE behind Dubai. Sandcastles-property.com will be attending the two-day show and will be represented at the conferencing event by their new business development manager added Peter Young.
"The Cityscape events attract a lot of investors, property professionals and media. We will be looking with interest at new commercial and residential property dfor sale in in Abu Dhabi, Dubai and other Emirate countries to add to the sandcastles portfolio of property in the UAE," said added Peter Young.
"Abu Dhabi is currently our fastest growing region for property investment in the Emirates, and together with Dubai make up the core of our business," added Peter Young.
The Cityscape event is now in its second year, after attracting over 15,000 visitors to its inaugural event in Abu Dhabi last year.
"Cityscape\'s debut last year surpassed all expectations. This year we expect to attract more than 25,000 visitors from over 100 countries with projects from more than 50 countries," said Mark Goodchild, Project Manager, Cityscape Abu Dhabi.
Cityscape will also host the Cityscape Middle East Real Estate Awards 2008, which will celebrate excellence in real estate development and investment throughout the United Arab Emirates. The prize-giving ceremony will be held during a gala dinner on the first night of the real estate event (Tuesday 13 May 2008) at the Emirates Palace Abu Dhabi.
Mark Goodchild commented, "The Cityscape Middle East Real Estate Awards 2008 have been keenly contested. The rivalry, although professional, will be intense on the night and an astonishing array of talent will be evident. However, the real aim of the awards is to celebrate excellence by rewarding truly exceptional achievements and thereby raising the bar for the industry as a whole."
',
'Dubai Property Goes Eco-friendly' => '
A new $55 billion eco town is to be built in the centre of Dubai. The project, which aims at preserving the environment and increasing greenery in Dubai, was launched by UAE Prime Minister Sheikh Mohammed bin Rashid Al Maktoum.
The new Dubai property development, named the \'Shaikh Mohammad Bin Rashid Gardens\', will be located between Al Khail Road and Emirates Road on a plot of over 850 million square feet, about 73% of the development will be dedicated to green and open spaces and 10% will be allocated to waterways.
In January 2008 the Prime Minister issued guideline for all new commercial and residential Dubai property to be built using sustainable building methods and materials.
Paul Greaves, Dubai property manager for sandcastles-property.com said: "The concept looks original and forward thinking and we are delighted to add the Sheikh Mohammad Bin Rashid Gardens to our expanding database of properties in Dubai and from across the United Arab Emirates"
The new green Dubai property development will be divided into four differently themed areas, wisdom, nature, humanity and commerce; with all four having an iconic building as its centerpiece as well as commercial, educational and residential property for sale.
Hashim Al-Dabal, chairman of Dubai Properties said they would finance the initial work on the project and seek outside investment to complete the project.
"Here we will use a two-stage strategy where the infrastructure will be funded by the company, later on we will engage other dubai property developers and market investors for another source of funding" he said.
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