Super Slim Tower Planned For Dubai
Cityscape Abu Dhabi 2008: Leading UK-based international architecture and engineering firm, Atkins, unveils a new design for a 379m high super slim tower called P-17.
The development of the tower will be carried out by Tasameem Group with construction on the project expecting to start in November this year and is due for completion by November 2011.
P-17 will be located on Dubai’s main arterial route, Sheikh Zayed Road and is the latest in a long-line of Dubai property creations by Atkins. P-17 will be a mixed-use tower which will include:
- 77-plus storeys
- 18 office floors
- A 5 star hotel
- 75 serviced apartments
- 19 floors of residential apartments with views across the city
- 14 level car park
Atkins state that the contemporary architectural construction will give the illusion of an ever-changing appearance by utilising staggered blades which splay outwards to convey the appearance of layered planes which move sideways to produce a challenging, gravity-defying form.
“P-17 is a fresh attempt to push back the boundaries of engineering and design”, said Joe Tabet, head of architecture for Atkins.
June 9th, 2008 - Posted in Property News, dubai property | | 0 Comments
Eco-friendly Dubai Property?
June 8th 2008: Dubai is to host the “Dubai International Conference on Sustainable Construction” together with an exhibition on Eco-friendly Construction Technology, at the Dubai Police Academy. The conference will take place under the patronage of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai.
The conference will be held over one day, with three panels being addressed by 13 speakers, mainly from the private sector and topics will include:
- Ensuring the worlds mega-projects are sustainable
- Sustainable construction practices
- The challenge of climate change
- Policies for sustainable construction and urban development
The Dubai conference is timely as it is being held a day before The Zayed International Prize for the Environment (established in 1999 by H H Sheikh Mohammed bin Rashid Al Maktoum, as a tribute to the environmental achievements of the late Sheikh Zayed bin Sultan Al Nahyan.
The USD $1million Zayed International Prize is considered among the most prestigious environment-related awards in the world today which recognizes and encourages environmental achievements that support and promote the implementation of Agenda 21 in line with the vision and philosophy of the late Sheikh Zayed.
Agenda 21, the global agenda for sustainable development was adopted at the Rio Earth Summit in 1992. It argued for providing better information, and highlighted the importance of integrating environmental development in property development decision-making.
June 5th, 2008 - Posted in Property News, dubai property | | 0 Comments
Explosion In Dubai
With a massive range of developers, both large and small, entering the Dubai property arena and property prices still climbing, is it any wonder that in less than 20 years, the Dubai property market has exploded from this:
to this:
Dubai has seen around 40 towers, and other property complexes developed at Dubai Marina, with a similar number of properties nearing completion at the nearby Jumeirah Lakes. Jumeirah Beach Residence project last year saw the completion of 40 towers.
Development is well underway in Dubailand with several projects currently up and running including Al Sahra Resort, Dubai Sports City and the Dubai Autodrome and there are now 4 major Palm projects (Palm Jumeirah, Palm Jebel Ali, Palm Deira, and Palm Universe). Development is also well under way at Dubai Waterfront, Arabian Ranches, The World, Burj Dubai, Jumeirah Islands, Silicon Oasis, Business Bay, Discovery Gardens, International City, with many other developments ongoing.
There are many other Dubai property developments on the horizon including the $11 billion Arabian Canal project, which at 75 kilometres will be one of the world’s longest man-made waterways. The Arabian Canal project will flow from Dubai Waterfront to Palm Jumeirah, passing east of the planned Al Maktoum International Airport and will be home to an estimated 1.5 million residents.
June 3rd, 2008 - Posted in Forecasts, Uncategorized, dubai property | | 0 Comments
Dubai Property Developer Seeks Investment
GPD Investments LLC, a Dubai property development and Investment company, is currently seeking to raise $350 million in equity through investment. GPD will use the capital to acquire and develop properties in Dubai, looking to make further land acquisitions and to build office investment property and retail premesis.
The firm is planning more than $1 billion of transactions and will be seeking a minimum investment of $200 million, The capital being deployed over the next three years and will initially be directed towards a project currently in its pre-development phase.
GPD currently has a portfolio valued at over $600 million across 15 developments and seeks opportunities to acquire prime development sites in off-market transactions. GDP is an approved developer by the Dubai Real Estate Regulatory Agency.
June 2nd, 2008 - Posted in Dubai Property News, dubai property | | 1 Comments
Dubai Property Growth Driven by Foreign Investment
The property market in Dubai is largely being driven by foreign investment, with 60-70% of freehold properties currently being purchased by foreign property investors and individuals, according to a recent study.
Despite rising costs and shortage of contractors, the property sector in Duabi is still one of the most important investment areas in the UAE. Investing in property for sale in Dubai is seen as safe and financially rewarding and currently better than investing in bonds or stocks, with the return on the investment reaching as high as 40 per cent - an impressive figure.
With property developers in Dubai having around USD 100 billion worth of new development projects in hand, foreign investment by both developers and buyers remains vital for the continued growth of the property sector in Dubai.
Investors from Europe, Asia and China as well as emerging markets such as South Korea and Brazil are now increasingly showing interest in the lucrative property market of Dubai.
May 28th, 2008 - Posted in Forecasts, dubai property | | 0 Comments
Dubai - The World’s Tallest Building! The World’s Largest Shopping Mall?
After the recent world first, on May 12th 2008, when the Burj Dubai was officially recognized as the tallest building in the world comes the news that by August 2008 Dubai should also be recognised as having the the world’s largest shopping mall - the Dubai Mall
Set to be one of the UAE’s flagship shopping mall developments, Dubai Mall will be located in Dubai City’s most prestigious urban development to date, Downtown Burj Dubai - home of tallest building in the world.
Dubai Mall will add to the UAE’s impressive portfolio of fantastic shopping experiences and will include more than 1,000 retail stores, an ice rink, multiplex cienema, the world’s largest aquarium, and the world’s biggest gold souk.
The retail sector is the fastest growing industry in the Middle East with forecasts projecting the industry to exceed £250 billion by the year 2010. With Dubai accounting for more than 50 per cent of the UAE’s shopping footfall, good times are definately ahead for shoppers and retailers in Dubai.
May 27th, 2008 - Posted in Dubai Property News, dubai property | | 0 Comments
Property Prices in Dubai Soar - And Set to Soar Higher
With the loosening of monetary policy in the US as a response to the collapse of house prices, and the price of oil topping $128 a barrel, Dubai property prices are beginning to soar.
A reported price gain of between 10 and 15% in the past 60 days (a figure which could soon double) sends a very positive message to the worldwide property investment community. This is probably the highest rate of change in Dubai property prices since the Dubai freehold property revolution began in 2002.
The collapse of house prices in the US, the recent sub-prime mortgage crisis and the Federal Reserves lowering of interest rates has had the side-effect of pushing up commodity price inflation, most particularly in the oil market. For an oil-exporting emirate like the Dubai this means huge additional liquidity flooding the banking sector with money supply rising to 37%.
The UAE has its currency pegged to the US dollar. This means that the nation has to track US interest rates downwards, causing interest rates to fall at a time of rising inflation, basically meaning the economy is effectively paying you, the property investor, to borrow money. Is it any surprise then that Dubai property has seen a huge dislocation of funds, further increasing property prices?
With Goldman Sachs predicting oil prices pushing upwards to $150-$200 within the next 18 months, we at Sandcastles would suggest that investors looking at properties for sale in Dubai could see a good return on investment due high property prices being obtainable and more than likely sustainable at least within that timeframe.
With the Dubai property market still forecast to grow then what more reason do investors need to invest in Dubai property
May 22nd, 2008 - Posted in Forecasts, dubai property | | 0 Comments
Why its good to buy property in Dubai
With much of the UK and Europe in the grip of a financial slowdown, many developers are having to work a lot harder to find not only a good property, but also a good sector in which to invest. Whilst other locations may have slowed down, it appears investing in a property in Dubai may still be good for your bank balance, particularly if you are looking at your purchase as more of a long term investment and with the rental market in Dubai in mind.
Last week, the Deutsche Bank announced it was relocating more staff to its offices in Dubai, a move expected to be mimiced by other competitors, as many financial organisations look to exploit the boom in the oil industry. Many of these financial professionals are used to paying a premium for property, particularly given that most of these expatriates are often moving from other high cost financial centres such as London and Barcelona.
In keeping with recent trends, the rental market in Dubai is still fairly buoyant at present. This presents the opportunity of a reasonable rental yield particularly in the short to medium term.
As usual though it pays to be careful with your property purchase taking into mind, location and your target market.
May 12th, 2008 - Posted in Forecasts, Uncategorized, dubai property | | 0 Comments
Easyhotel to Build Thier First Middle-East Property in Dubai
Easyhotel, founded by Sir Stelios Haji-Ioannou - the entrepreneur who revolutionised air travel in Europe with his low-cost airways EasyJet, has announced plans to build thier first hotel property in the Middle East. The hotel will be located in Dubai and is expected to open in 2009.
The hotel property is under development by Nakheel, the property developer responsible for dubai property projects including the Palm Jumeirah and the World. Nakheel Hotels, the hotel property development, investment and asset-management branch of Nakheel, has the exclusive rights to the Easyhotel franchise in the Middle East and North Africa.
The 216-room dubai property will be located in the Jebel Ali Free Zone, which is currently home to around 6,000 companies. Construction is due to start at the end of May 2007. The hotel will be built according to LEED (Leadership in Energy and Environmental Design) standards, which address criteria including water efficiency, materials, resources, and innovation and design process
May 8th, 2008 - Posted in dubai property | | 0 Comments
