• Dubai property market witnessing robust demand from Indian buyers
By Anitha Lakshminarayanan
UAE, 25 February, 2015 – AZIZI Developments, a leading UAE property developer, is joining the high-profile Times Property Expo 2015 in Mumbai, India to showcase the UAE’s booming real estate sector and the company’s portfolio of current and upcoming luxury projects in Dubai. AZIZI’s first-ever participation in the prestigious property exhibition comes at a time when a growing number of Indian investors are showing interest in real estate developments in the emirate. The event will take place from February 27 to March 1, 2015 at the Hotel Sahara Star in Mumbai.
During the exhibition, the company will feature one-, two- and three-bedroom luxury apartments with high-end European designs and finishing at Stand No. 38 in the hotel’s Sapphire Hall. This is a great opportunity to meet and greet with the Indian investors and showcase the projects that have seen a great increase of interest from Indian investors in Dubai. Developer’s projects and value-added services offer an affordable, but sophisticated and modern lifestyle and the company’s flexible payment plan schemes are in depth with buyers and decision makers.
Ali Omer, CEO, Azizi Developments, stated: “UAE is now increasingly becoming a destination of choice amongst Indian real estate investors and for several years in a row now Indian investors top the list in the Dubai real estate market. For our part, we have witnessed a strong interest in our reasonably priced projects famous for their unparalleled services and top-notch facilities. This prompted us to participate at the upcoming Times Property Expo 2015 in the city of Mumbai as we want to create long standing relationships with our current Indian investors, but also introduce our competitive projects and once in a lifetime opportunity to tap into Dubai’s booming property market. Besides exhibiting our own projects, we will be able to also highlight the many opportunities and strengths of Dubai and the UAE’s flourishing property industry.”
AZIZI Developments implemented five large-scale residential projects in Al Furjan in 2014. During the same year, its investments in the Dubai real estate market reached AED 4.5 billion. One of its developments, the AZIZI Iris, was sold out following its launch, while about 70 per cent of Azizi Liatris, Azizi Orchid, Azizi Yasamine and Azizi Feirouz have already been sold. Construction works for all the projects are now well underway since June 2014 and are on schedule targeted for completion by the end of 2015.
The five residential developments are located a few minutes away from the Al Maktoum International Airport, which will be the largest airport in the world and a short distance from the venue of World Expo 2020. Azizi projects are also near some of the emirate’s most famous tourist attractions such as Dubai Marina and Jumeirah Beach Residence/Walk. Through its sophisticated and elite properties, AZIZI strives to provide a unique living experience to its clients in the UAE, but also the rest of the GCC countries and now India as well.
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UAE, February 12, 2015 – In line with its ongoing corporate social responsibility (CSR) program, Dubai Properties (DP), a leading Dubai-based real estate developer, in partnership with the Dubai Health Authority (DHA), organized a blood donation camp on February 10, 2015 at its Ras Al Khor office. During the activity, over 50 employees across Dubai Properties Group (DPG), volunteered to donate more than 20 liters of blood that will be used to provide timely care to patients in need of urgent blood. DP hosts similar CSR activities regularly as they underline the company’s commitment to support community-oriented initiatives that not only enhance social well being but also encourage responsible living.
‘Dubai Real Estate B2B,’ a conference that aims to connect potential investors with the emirate’s industry leaders, concluded on October 17, 2014 at the Ritz-Carlton Dubai Marina. The two-day event focused on increased attention and encouraged the entry of more international investors into Dubai’s rapidly growing and thriving real estate landscape. Held under the theme, ‘All questions answered,’ the conference is positioned to become a strategic platform for potential investors in their move to make a smooth entry into the local real estate market.
‘Dubai Real Estate B2B’ featured key discussions and round tables focusing on important industry issues and topics. The first day of the event covered topics like new rules and regulations in investing; The impact of World Expo 2020 on Dubai’s real estate market; Loans for non-residents in Dubai; Landlords in Dubai; Assessing the Dubai real estate market and Free Zones, Offshore and Local Dubai companies. Meanwhile, the second day of the conference included topics on the Abu Dhabi real estate market; buying properties off plan; Inheritance law for real estate investments and how to set up a business and be a resident of Dubai.
Speakers invited to share their insights include Engr. Duaa Issam Dablan MSC, Senior Deputy Director, Real Estate Investment Management & Promotion Center, Dubai Land Department; Dereck Alexander Jon Hoogenkamp, Sales & Marketing Director, Al Barari (Gold Sponsor); Jurgen Herre, Managing Partner, Soliton Holding (Platinum Sponsor); Ainsley Duncombe, International Sales Director, propertyfinder.ae (Silver Sponsor); Ayman Abuhabsa, Head of Private Banking, and Pawan Dhawan, Vice President – Mortgages, Mashreq Bank; Jason Gibb, Business Development, WEST GATE Real Estate; Dr. Theodor Strohal, Senior Partner, Strohal Legal Group; Gurjit Singh, Chief Development Officer, Al Dar in Abu Dhabi; Andrew Thomson, Senior Associate, Clyde & Co; Anthony Walker, Managing Director, Horlborn Assets; Sunil Jaiswal, Founder of REAP institute and Stuart Curtis, Managing Partner, The Synergy Group.
“Dubai’s real estate market is continuing to grow by leaps and bounds—constantly unscathed by global economic gridlock and crises. In fact, the emirate’s recent win to host the coming World Expo 2020 has further fortified its position as a premier investment and tourism destination—which in turn has attracted more international investors to explore potential opportunities, particularly in the real estate segment,” said Julia Zajak, General Manager, Real Events. “Dubai Real Estate B2B aims to give these investors the essential information needed to enter Dubai’s real estate market. The overwhelming response that we have received so far for this event has already prompted us to start on planning for the second edition of this conference, where we aim to solidify the ties between these investors and concerned government agencies and private real estate firms.
According to a recent whitepaper released by the Real Estate Investment Management & Promotion Center, which is an initiative and newly-established division of the Dubai Land Department, the emirate has firmly positioned itself as a place where almost anything is possible—raising the benchmarks even higher in terms of constructing projects that are truly world-class in nature combined with the offer of a luxurious lifestyle. To date, Dubai was able to attract more than 7.9 million tourists during the first three-quarters of 2013 with the hopes of driving in more than 20 million more by 2020, when it hosts the World Expo on that year. Some of the key drivers that are attracting people to Dubai include its booming economy and political stability; no income tax, capital gains or levied property tax; status as one of the world’s safest cities and the presence of excellent world-class infrastructure, to name a few.
“We are proud to be participating in the pioneering edition of Dubai Real Estate B2B. The intentions of holding this event are truly commendable as it aims to act as a portal that can answer all questions about investing in the emirate,” said Majida Ali Rashid, Assistant Director General and Head of Investment Management and Promotion Center, the investment arm of Dubai Land Department. “This event will allow us the opportunity to talk about the advantages and benefits to be gained from investing in Dubai—being one of the world’s safest and most secure areas, the affordable cost of living, its move to become a Smart City and the robust legislative system that protects investors.”
During the event, Al Barari, the conference’s Gold Sponsor, hosted networking opportunities and an exhibition visit for participants. Dereck Hoogenkamp, Sales & Marketing Director, and Al Barari, explains: “Luxury developments such as those at Al Barari are reflective of the positive upturn in the local market; sales show that exclusive properties are still in demand. Unique design and high-quality finishes are the main attractions for ultra-high-net-worth individuals. We are pleased to be part of the first edition of Dubai Real Estate B2B. Our participation in the event will give us the opportunity to meet professionals and investors from abroad.”
Dubai Real Estate B2B Conference is hosting more than 250 participants from Russia, United Kingdom, India, Kazakhstan, United States of America, Pakistan and Africa; and a thoughtfully planned out a series of activities that aims to live up to its chief goal of providing foreign investors with the essential information and guidance on pursuing real estate opportunities in Dubai. One of the highlights of the event was a guided tour of some of the emirate’s current development projects—complete with an opportunity to meet face-to-face with project developers, which will allow them to develop a comfortable feel of the area and the guarantee that all their questions will be answered.
The event is being attended by senior level government officials and features 15 presenters from the United Arab Emirates (UAE) and 30 exhibition stands from industry representatives like mortgage advisers, local bank officers, real estate developers, property consultants, real estate attorneys, tax specialists & auditors, private-equity fund manager and, management consultants.
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By Anitha Lakshminarayanan Dubai’s real estate sector fast track their stalled projects.
The revival of the market increase expectations of the original stakeholders.
As Dubai’s property market is heading towards a sustainable development. Several stalled projects are back on track. This turnaround comes as a rise in rentals, sales values and Investor sentiments.
With improved economic fundamentals in the country, the top 5 projects which are back on track are the opus set to be delivered in 2015. Taj Arabia that started in 2005 is set for completion in 2016. Jumeirah Village Circle will be delivered in 2016.The Pad in 2016 and the Living Legends in December 2014.
The upturn in the last 12 months has revived the fortune of several stalled projects as well. The improving market fundamentals brought in investors and specialists to take on construction either on their own or with the original developer.
According to market resources, more than 50 percent of the 100 affected projects have already gone through a transition.
Recent regulatory measures from the government have brought in sustainable development to Dubai’s fastest growing real estate. The regulation plays a major role in reviving the fortune of Dubai’s stalled projects as well.
More than 50 percent of the 100 odd, affected projects have already gone through a transition. In the first flush of revival of Dubai’s stalled projects, the processes were simple where in the investors would find a particular project that stood a good chance in an improving market place such as downtown, and business bay. Put up a proposal to the land department and see how they could square off the original buyers in the project.
Dubai Land Department has overseen the entire recovery process, were also fast tracking the transfer to a new set of investors. But here comes a challenge in the pace of the revival process as new investors get in now.
According to the top official from Global Capital Partners “The revival has been easier for small and medium-sized projects though difficult for larger projects in Dubailand.
“Moreover, the original stakeholder’s expectations have raised consonance with the revival of the market”.
In the flush of revival for Dubai’s stalled projects, the processes were quite straightforward. Now there’s a multiplier effect for those original investors who had paid a size-able amount of the upfront fee to get a discount on the sale price.
Some of the legal hurdles turn onerous in these stalled projects, however in Dubailand many stalled projects are gaining momentum in the revival process, and they plan to complete the project in 2016.
Market feedback also suggests that negotiations are on for larger stalled projects. The deciding factor would be to find common grounds among stakeholder’s expectations and what new investors are willing to pay.
Please contact Anitha Lakshminarayanan-freelance writer ( a writer for Gulf News), Freelance Journalist at email@example.com for covering an event, public relations writing, conducting interviews or advertising on this blog or to know more about my writing-visit http://anithaideas.com/