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
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
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
Dubai to build worlds biggest airport
Property hotspot Dubai has unveiled an ambitious plan to build the world’s largest airport proposed to be as big as Chicago and London Heathrow put together, with the Dubai World Central airport pipelined to open late next year.
Estimates suggest the airport will be able to serve up to 120 million passengers a year. One of the most modern airports it is being billed as the airport of the future with Dubai officials suggesting passengers using the airport will be able to go from check-in to plane in under 15 minutes.
Such improvements to the travel infrastructure is likely to aid the already booming financial and travel sectors with the Dubai Property sector likely to be another winner
June 16th, 2008 - Posted in Dubai Property News | | 0 Comments
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
