Boom times for Dubai Property

With demand outstripping supply, high rental yields still increasing and the price of freehold property rising sharply Dubai’s economy is now booming as it attracts more and more foreign investment to its ever growing property market.

An estimated 4 million sq ft of commercial space will be completed between September 2008 and mid-2009 and more people will move to Dubai to work. This alone will put renewed pressure on Dubai housing supply which will in all likelyhood push freehold property prices and rental income up even further.

Because of strong fundamentals, the long term outlook for the property market in Dubai is very positive with some strong signs of speculative activity taking place in off plan Dubai properties.

July 24th, 2008 - Posted in Property News, dubai property | | 0 Comments

Dubai Mall to Get SEGA Republic Indoor Theme Park

The Dubai Mall, the world’s largest shopping and entertainment centre is to play host to a new wave of high-adrenaline entertainment with SEGA Republic®, a partnership project from Emaar Malls Group, the developers of The Dubai Mall, and SEGA Corporation.

SEGA Republic®, is a two-level, 76,000 sq ft indoor theme park, featuring thrilling rides, motion-simulator adventures and cutting edge amusements, all in a specially controlled environment designed to entertain all age groups. The theme park will be the first of its kind in the Dubai, and will serve as a benchmark for future SEGA indoor theme park developments across the Middle East, North Africa and India.

Mr Yousif Al Ali, General Manager, The Dubai Mall said: “SEGA Republic® is redefining the concept of indoor entertainment in the region by introducing never-experienced before adventures and games. Based on the original Joypolis in Tokyo, SEGA Republic® adopts the same adrenaline-fueled offer of thrilling rides - including brand new concepts - and the latest interactive arcade games that will appeal to people of all ages.”

SEGA Republic® offers visitors of all ages the opportunity to discover the worlds they wish to explore through a variety of themed zones:

• Wild Adventure Zone
• Speed Zone
• Cyberpop Zone
• Sports Zone
• Redemption Zone

As well as these themed zones there will be other thrills and attractions such as the ‘Sonic Hopper’ - a family-free-fall experience and ‘Spin Gear’ - a full-scale indoor horizontal spinning-coaster.

From roller coaster to ride simulators, arcade games to redemption activities and the physical sports games, SEGA Republic® will thrill all its visitors for years to come.

July 14th, 2008 - Posted in Property News, dubai property | | 1 Comments

High Class Properties Overlooking Burj Dubai Go On Sale Today

Emaar Properties, the distinguished Dubai property developer, offers for sale today (July 12 2008) a choice of elegant residential properties in Downtown Burj Dubai. These high class properties are located within 4 prestigious projects:

Standpoint: Located on Burj Dubai Boulevard, offers residents a fresh and distinctive approach to modern living with a wide array of lifestyle choices.

Burj Place: The perfect integration of elegant and feature-rich residential properties with stylish and sleek retail facilities, leisure and recreational amenities. Burj Place is also directly linked to the Dubai Metro and Burj Dubai Tram system.

“M” Burj Dubai: A truly monumental residential Dubai property project comprising of two towers at 50 and 22 floors high. “M” Burj Dubai redefines residential properties, with exceptional architectural design by award-winning international architects and rich amenities tailored for the trendy lifestyle of prestigeous home-owners.

Burj Park V: Situated in a prime location in Downtown Burj Dubai and with impressive waterfront views, Burj Park V homes features neo-classical architecture and modern decor that will appeal to the stylish and sophisticated, with an address where luxury is the way of life.

Mr Saif Al Mansoori, Sales Director, Emaar Properties, said: “Downtown Burj Dubai has established itself as one of the most sought-after residential and commercial developments in Dubai. Apart from the amenities such as Souk Al Bahar, the soon-to-open Dubai Mall and several hotels, the mega flagship project features some of Dubai’s most architecturally exceptional buildings including Burj Dubai“.

He added: “Standpoint, Burj Place, ‘M’ Burj Dubai and Burj Park V have been designed by a team of international architects and are noted for their elegant structure, excellent finishes and ease of accessibility to the business nerve centres of the city. These unique units, opening for sale, give potential investors another opportunity to own a home in Downtown Burj Dubai“.

All four projects offer uninterrupted views of Burj Dubai, the world’s tallest building, and are close to The Dubai Mall, one of the world’s largest shopping and entertainment destinations.

Downtown Burj Dubai is the fastest shaping mixed-use development in the Dubai property arena, and is now described as the new ‘heart of the city’.

More information can be found at www.emaar.com

July 12th, 2008 - Posted in dubai property | | 0 Comments

Exciting New Cultural Centre Planned For Dubai

Zaha Hadid Architects have unveiled designs for a new opera house and cultural centre in in the new Seven Pearls district of Dubai. The development will be built on an island in Dubai Creek, just off the Seven Pearls mainland, and will accommodate a state of the art opera house, arts gallery, theatre, performing arts school and themed hotel.

• The opera house will seat 2,500
• The theatre will seat 800
• The arts gallery will have 5000m2 of exhibition space
• The hotel will accommodate guests in a 6 star setting

The design will house all of the facilities within a single structure with a gentle winding form which is both a part of the landscape yet very much a distinct element on the skyline. The centre consists of two peaks correspond to the opera house and the theatre evoking images of sand dunes or mountains. The surrounding landscape forms build up gently to the main building and will consist of open parkland as well as parking facilities and a monorail station which will be integrated into the landscape.

The Dubai opera house and cultural centre development, has been designed by Baghdad-born architect Zaha Hadid, the first woman winner of the prestigious Pritzker Prize

July 8th, 2008 - Posted in Property News, dubai property | | 0 Comments

New Dubai Property Development Unveiled for Dubailand

Promising the ultimate in contemporary living, Durar 1, a twin-building residential project by Durar Properties, was unveiled at a gala event held at the spectacular Mina A’ Salam Hotel in Dubai.

Durar 1 is a joint venture between Durar Properties and Ali and Sons and is supported by several leading Saudi-based property investment groups. The Saudi involvement in this project highlights the growing interest of global investors in the Dubai property industry.

The Durar 1 residential project will be sited at the Residence complex in Dubailand, the region’s largest tourism and entertainment destination and will be one of the most sought-after residential projects within Dubailand. With its eye-catching architectural design, modern state-of-the-art interiors and unparalleled facilities, Durar 1 is the astute investment for those seeking not just an apartment, but a home.

Durar 1 has been conceptualized as a family-friendly development with facilities such as sky gardens, temperature-controlled roof-top pools, impressive reception lobby, high speed elevators, sauna and steam rooms, fully-equipped gym, excellent communication facilities, 24/7 security and maintenance, ample parking, separate children’s play area, a nursery that meets the highest international standards. All this and the wonders of Dubailand on your doorstep.

Construction on Durar 1 commenced in May 2008 with completion expected by December 2009.

July 3rd, 2008 - Posted in Property News, dubai property | | 0 Comments

On-line Competition to Name the Burj Dubai Lake Fountain and Win $27,000

Emaar, the distinguished Dubai property developer, today announced an on-line competition to name their stunning fountain being developed in the Burj Dubai Lake in Downtown Burj Dubai. The winning competition entrant will receive a cash prize of AED 100,000 (approx $27,000).

The fountain in Burj Dubai Lake will be a water, light and music spectacle, possibly one of the world’s finest water features. The fountain not only builds on the regions long history of association with water fountains, but will also add to the aesthetics of Downtown Burj Dubai, which is also home to Burj Dubai, the world’s tallest building.

This magnificent fountain will shoot water spray up to a height of 500ft, equivalent to a 50-storey building and will have over 6,000 lights and color projectors. The water features will also dance to the melody of both Arabic and international music

A panel of judges from Emaar will choose the winner.

July 1st, 2008 - Posted in Property News, dubai property | | 0 Comments

Maysan Towers - The Latest Dubai Property Development From Emaar properties

Emaar Properties yesterday announced a joint venture development with Bawadi, a subsidiary of Tatweer (Dubai Holdings). The Maysan Towers development in the entertainment and hospitality districts of Asmaran will be the first residential tower complex in the Bawadi project, comprising of three high-rise apartment towers with of a total of 80 floors.

With an elegant Mediterranean theme, the Maysan Towers development comprises of three high-rise residential towers of 30, 26 and 24 floors, with nine feet high ceilings in all apartments, to accentuate the feeling of space and light. The apartments have quality finishing throughout with fittings including natural stone countertops and electric bench-top hotplate. All rooms also have tinted double glazed windows for comfort and privacy.

Only minutes away from Bawadi Square, the Maysan Towers community is set in a lavishly landscaped setting, and features a range of amenities such as indoor retail outlets and community services. Ample parking is offered through three basement floors and four partial podium levels.

Mr Issam Galadari, MD of Emaar Bawadi, explained “Maysan Towers are the first residential apartments to be showcased at Asmaran, an integrated neighbourhood that has established itself as a sought-after home destination. The Maysan Residential Towers complex highlights the development expertise of Emaar and Bawadi, two of the leading developers in Dubai.”

Find more Dubai property here.

June 29th, 2008 - Posted in dubai property | | 0 Comments

Dynamic Tower, Dubai - The Worlds First Rotating Skyscraper

At an international press conference in New York this week, Dynamic Tower - the World’s First Building in Motion was unveiled by revolutionary Architect David Fisher of Dynamic Architecture Group.

The Rotating Tower, also called a Rotating Skyscraper will be built in Dubai over the next two years by the developer Rotating Tower Dubai Development Limited of Dynamic Group and is destined to become the most prestigious building in the city.

The tower will feature:

• 80 floors - 420 meters (1,380 feet) tall
• Apartments ranging from 124 square meters to Villas of 1,200 square meters
• Parking spaces inside the apartment
• Floors 1 to 20 will be offices
• Floors 21 to 35 will be a luxury hotel
• Floors 36 to 70 will be residential apartments
• The top 10 floors will be luxury villas

The Dynamic Tower in Dubai will be self powered by 79 wind turbines, one between each floor, and will be the first Building in Motion to be constructed in the world, this will herald a new era of architecture and become a symbol of Dubai. The mixed use building will offer infinite design possibilities, with each floor rotating independently at different speeds, resulting in a unique and ever changing structure that introduces another dimension to building architecture, ‘Time’.

You can view a brochure for the first rotating skyscraper in Dubai by Clicking Here

June 25th, 2008 - Posted in Property News, dubai property | | 0 Comments

Construction Begins on Dubai Towers

23rd June 2008 : Sama Dubai, the property developer behind the construction of Dubai Towers, yesterday announced that construction work has started on this highly anticipated property development, with the estimated date of completion being 2014.

The Dubai Towers complex is being built at a cost of over $5.4 billion, with the towers ranging from 60 to 91 floors high. The towers will incorporate upmarket retail outlets, restaurants, entertainment facilities, health spas, gymnasiums, hotels and apartments. Set against a backdrop of beautifully landscaped islands in the heart of Dubai, and surrounded by the historic Dubai Creek, the complex of towers will use cutting-edge architecture.

Centrepiece of The Lagoons Central Business District, Dubai Towers will comprise of four state-of-the-art residential, commercial, retail and hospitality towers. As well as residential Dubai property, the towers will incorporate premium office space designed around modern-day business needs, and will incorporate ‘intelligent’ building systems.

The Dubai Towers complex will add extra appeal to the Lagoons district which will ultimately feature theatres, museums, an arts centre, music conservatory and the Dubai Opera House. The Lagoons will offer great appeal to tourists and residents seeking modern living and cultural attractions.

June 23rd, 2008 - Posted in Property News, dubai property | | 0 Comments

More reasons to buy property in Dubai

With the current economic slowdown affecting many parts of Europe and the United States, it is getting more and more difficult to identify a good potential investment. However… investing in Dubai might be just the ticket. Why … read further.

Increase in foreign residents

Dubai has evolved into a major financial player over the last couple of years and as such there has been a significant influx of foreign nationals into Dubai. Many of these visitors are often cash rich, and are not looking for property for sale in Dubai, rather rental homes.

Careful consideration of a potential property, particularly if the rental market is your target audience is essential. Currently the single-room studio apartments are doing the best in terms of rental yields since the expatriates that work in Dubai tend to be single individuals so this would be a great real estate investment tip to note if you intend to invest in Dubai.

The Tourism industry

Over 7 million people visit the United Arab Emirates every year, and as a result there is a significant opportunity for property rental there, particularly within the Dubai rental market. This figure is expected to rise significantly over the next couple of years and as a result the scope for a substantial ROI from your property investment in Dubai seems reasonable in the short to medium term.

High Potential ROI

Prices for property in Dubai are still not stupidly high and as such it is still possible to make a reasonable profit of any investment at the present time. At present the Dubai property market is still buoyant and as such it is still possible to identify and purchase homes at a fair price.

On commercial property it is also possible to make even greater yields.

June 10th, 2008 - Posted in dubai property | | 0 Comments