Category Archives: Reporter

Dubai Properties’ Dubai Wharf development draws tremendous investor response during the debut of Dubai Property Show in London  

By Anitha Lakshminarayanan

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UAE, March 4, 2015 – Dubai Properties, a leading real estate developer received an overwhelming response from property buyers and investors during its participation at the recently held Dubai Property Show 2015 at London’s Olympia. Welcoming the large number of visitors, the début edition of the exhibition was opened by H.H. Sheikh Mohammed Bin Maktoum Al Maktoum, First Secretary at the UAE Embassy in UK, in the presence of Emirati dignitaries H.E. Sultan Butti Bin Mejren,  Director General of Dubai Land Department (DLD), and Majida Ali Rashid, DLD’s Assistant Director General. The property show offered a unique platform for Dubai Properties to generate sales and inquiries for its landmark projects in Dubai.  During its participation at the recently held Dubai Property Show 2015 at London’s Olympia. Welcoming the large number of visitors, the début edition of the exhibition was opened by H.H. Sheikh Mohammed Bin Maktoum Al Maktoum, First Secretary at the UAE Embassy in UK, in the presence of Emirati dignitaries H.E. Sultan Butti Bin Mejren,  Director General of Dubai Land Department (DLD), and Majida Ali Rashid, DLD’s Assistant Director General. The property show offered a unique platform for Dubai Properties to generate sales and requests for its landmark projects in Dubai.

The Dubai Properties’ stand, which showcased its current portfolio of projects, generated a high number of footfalls during the three-day event.  Its AED 800 million mixed-use Dubai Wharf  specifically attracted strong interest from prospective investors. Located in the heart of Culture Village, Dubai Wharf  overlooks a canal promenade next to the historic Dubai Creek. Its unique and contemporary design, strategic location, and easy accessibility will put the modern development as the most sought-after lifestyle, dining and entertainment hub.

Abdulla Abushabieb, Executive Director Sales and Customer Service, Dubai Properties, said: “Dubai is a popular investment destination for British property seekers who are attracted to its tax-free economy, safe and secure living environment, and high standard of living. The Dubai Property Show was an excellent gateway for us to reach out to genuine investors and buyers and offer them our properties after assessing their requirements.”

“Dubai Properties’ registered  around 4000 visitors over the 3 days of the event, the  majority of who showed keen interest in our projects, especially in the residential segment. Dubai Wharf, in particular, received tremendous response from people who were looking forward to make Dubai as their second home. We are confident of converting the leads received during the show into actual sales,” added Abushabieb.

Dubai Properties has delivered some of the most popular residential and mixed-use developments in Dubai, including the Jumeirah Beach Residence, The Villa, Mudon and Layan in Dubailand, as well as The Executives Towers, Vision Tower and Bay Square at Business Bay.

Please contact Anitha Lakshminarayanan-freelance writer (writer for Gulf News), Freelance Journalist at

anithaideas@gmail.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/

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Dubai Properties to showcase latest line of projects at 2015 Dubai Property Show in London  

Leading developer to highlight its AED 800 million Dubai Wharf project

 By Anitha Lakshminarayanan

 

Dubai, UAE, 23 February, 2015 – Leading real estate developer, Dubai Properties (DP) announced its participation in the upcoming Dubai Property Show, which will be held from February 27 to March 1, 2015 at London’s Olympia.

 

Exhibiting alongside some of its contemporaries within the real estate industry, DP will be utilizing the event as a strategic sales platform to leverage its recent line of development projects—with the ability to reach out to over 2,000 visitors that are expected to attend the event.

 

DP’s stand is also expected to highlight its mixed-use Dubai Wharf project in the Dubai Creek district–a modern development undertaking that features a unique contemporary design overlooking a canal promenade adjacent to the historic Dubai Creek. The design, positioning and accessibility of the project make Dubai Wharf, one of Dubai’s future landmarks for leisure lifestyle, dining and entertainment.

 

Commenting on the news, Abdulla Abushabieb, Executive Director for Sales and Customer Service at Dubai Properties, said: “The Dubai Property Show provides its visitors with a comprehensive view and understanding of the real estate industry of Dubai and we have chosen to be part of this platform to showcase DP’s commitment to the future and development of Dubai as a global city.”

 

Abushabieb continued: “This is the perfect platform to display our diverse portfolio and communicate around our projects such as Dubai Wharf. We always look forward to exploring new market opportunities and are proud to be able to interact with customers and investors on a well-respected global platform like the Dubai Property Show.”

 

Dubai Properties has delivered some of the most popular residential and mixed-use developments in Dubai, including the Jumeirah Beach Residence, The Villa, Mudon and Layan in Dubailand, as well as The Executives Towers, Vision Tower and Bay Square at Business Bay.

Please contact Anitha Lakshminarayanan-freelance writer (writer for Gulf News), Freelance Journalist at

anithaideas@gmail.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/

 

 

 

 

Dubai’s real estate sector fast track their stalled projects.

By Anitha Lakshminarayanan

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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 anithaideas@gmail.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/

Smart Living City -Dubai 2014 exhibition to bring in innovations in real estate and other Industries.

By Anitha Lakshminaryanan

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Dubai,June 4, 2014-TASWEEK Real Estate Development and Marketing has announced the patronage of His Highness Sheikh Hamdan Bin Mohammed Bin Rashid Al Maktoum, Crown Prince of Dubai, for the upcoming ‘Smart Living City (SLC) Dubai 2014’ exhibition taking place from September 15 to 16, 2014 at the Jumeirah Emirates Towers in Dubai.

SLC Dubai 2014 will gather the best recognised experts on smart cities and will revolve around the three main themes of high-level panel discussions; the showcasing of ‘best in class’ local and international ‘smart’ firms; and the hosting of multiple workshops on the ‘smart living’ paradigm. Among its primary goals are to create talented entrepreneurial activities and boost the creativity of technology supporters; source the most effective ingredients for startups, mentors, and public and private sector partners; and consolidate best-in-class incubators on a smart platform.

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The event will showcase the best smart products and services, and major opportunities for sectors such as tourism, transportation, environment, education, and telecommunication. It will also reveal effective strategies for the cooperative development and deployment of a smart integrated system between the private and public sectors.
“Smart technologies have become key to the success of numerous industries, from real estate and finance to education and healthcare. It has even emerged as a powerful enabler of good governance. SLC Dubai 2014 will reveal the latest and best tools and practices for Dubai to become a genuine smart city while enlightening the world on how the entire Arab World is embracing the vital role of ‘smart’ concepts in the region’s future,” said Masood Al Awar, CEO, TASWEEK Real Estate Development and Marketing.

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“One of the main objectives of the event is to address the demands of society by facilitating, simplifying and accelerating communications, services, and execution of governmental transactions. SLC Dubai 2014 is an essential platform for initiating major steps towards strengthening cooperation between the private and public sectors, and making the UAE in general a smart integrated ecosystem,” added Al Awar.

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Dr. Mansoor Al Awar, Chancellor, Hamdan Bin Mohammed Smart University, said: “Our participation in the ‘Smart Living City – Dubai 2014’ exhibition emphasizes our continued support for the vision and directives of H.H. Sheikh Mohammed Bin Rashid Al Maktoum, UAE Vice President, Prime Minister and Ruler of Dubai, to make the emirate one of the smartest global cities through the initiative led by H. H. Sheikh Hamdan Bin Mohammed Bin Rashid Al Maktoum, Crown Prince of Dubai and President of Hamdan Bin Mohammed Smart University. Our presence at the event consolidates our aim of enriching knowledge and establishing a smart learning culture in the Arab world. We thank and appreciate TASWEEK Real Estate Development and Marketing for hosting this exhibition, which plays a key role in supporting the UAE’s to build a smart economy based on innovation and creativity under the guidance of the country’s wise leadership.”

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“Smart technologies have become one of today’s most important investment areas due to their potential impact on the future of business, governance, and social development. Smart Living City will show the way forward as progressive cities such as Dubai fully embrace the concept of a technology-enabled community. It will be a unifying event for ‘smart tech’ practitioners, experts, and decision-makers alike,” said Kamran Saddique, CEO, Inside Investor.
Smart Living City, a biannual event, will be held in the cities of Dubai, San Francisco and Singapore from 2014 to 2015 to exhibit and discuss technologies and innovations for various industries that support the concepts of smart cities and smart human capital. This year’s two-day Dubai agenda will cover the creation of a SMART Ecosystem with a particular focus on Talent, Education, Location and Events, Mentorship, Incubators and Accelerators, and Funding. Complete event details are available at http://www.smartlivingcity.com.

Inside Investor is a Hong Kong–based technology investment firm with offices in Dubai, Manila, and San Francisco. Its investments include a business news portal in Asia, a platform for smart technology startups, and an intelligent platform for the business community.

Tasweek, a provider of comprehensive real estate development solutions for the UAE and the broader Middle East that leverages over 20 years of extensive experience in valuations, design, and real estate marketing across the UAE, is organizing Smart Living City – Dubai 2014 in coordination with Inside Investor.

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Anitha Lakshminarayanan

Please contact Anitha Lakshminarayanan-Freelance Journalist at anithaideas@gmail.com for covering an event,conducting interviews or advertising on this blog or to know more about my writing-visit http://anithaideas.wordpress.com/

Tanmiyat Group fast track their living legend project in Dubai land.

BY Anitha Lakshminarayanan
Tanmiyat Group, a Saudi investment company and property developer fast track their AED 4 billion living legends project in Dubai land that was launched in 2006 before the global economic crisis that hit in 2008. And Plan to handover villas in the middle of this year.

Mr.Mohammed Bin Odah,CEO of Tanmiyat Group
Mr.Mohammed Bin Odah,CEO of Tanmiyat Group

“About 60-75% of the project is over and in the middle of this year, will hand over our villas. Phase-I concrete work is completed, and the infrastructure including the street lights are already done” said Eng. Mohammed Bin Odah, CEO of Tanmiyat group to Emirates Property-what’s your property cravings.

Located in Dubai land with a built up area of 6 million square feet, the project comprises of 500 villas,12 towers with 2200 apartments, three office buildings, a mall, three schools and a hotel overlooking the golf course.

He added “we will be attaching solar heaters to every villa of living legend and recently made an agreement with a district cooling company”.

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Tanmiyat showcasing their living legend project at a consumer property event in Dubai

As Dubai continues to recover with soaring property prices over the last two years, several stalled projects are back on track since then. Another cause for the spike in the real estate prices could be Dubai’s win of the expo 2020 bid.

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Tanmiyat showcasing their living legend project at a consumer property event in Dubai

Eng.Odah said “After Dubai’s win of the expo 2020 bid, the response has been very good, and customers take initiatives to do their bookings and pay money. Now is the best time for those who have invested during the crisis, and now they can benefit from the yield as the appreciation is more”.

Dubai has a mixed bag of investors from all over the world and is well-known for its multicultural background. Now the market has matured to help the end-user and the regulations are in place. RERA(Real Estate Regulatory Agency of Dubai) has addressed the key issues such as the credibility of the developer, flipping, and with the wake of registration fees from 2% to 4% this year; this sector is easier to operate especially to end-users.

Mr.Odah urged “About 108 nationalities have invested in our project. Now it’s a regulated business wherein you cannot start selling if you do not give a bank guarantee of 25% .It builds confidence and Benefits the consumer”

“After central bank had approved, we signed an agreement with Al Noor Bank and two more banks are there in the pipeline. The funding from the banks helps us a lot as they collect money from the consumers once we start delivering the units to them”.

He concluded “At the moment,we are focusing on delivering the units this year and the project is 70% complete”

Anitha Lakshminarayanan

Please contact Anitha Lakshminarayanan-Freelance  Journalist at anithaideas@gmail.com for covering an event,conducting interviews or advertising on this blog or to know more about my writing-visit  http://anithaideas.wordpress.com/

Pacific Ventures begin sale of Phase-II of their signature apartments project ‘Burj Pacific’

IMG_0699Face to face with Mr.Miguel Guadalupe, Chief Operating Officer at Pacific Ventures

By Anitha Lakshminarayan

Burj Pacific sold its lower floor at the time of the announcement of the Phase-I launch last year and the higher floors are ready to be sold after Phase-II launch.

Dubai, UAE: Pacific Ventures, Indian Real Estate Company begin sale of their signature apartments Burj Pacific in downtown, Dubai after a formal launch of Phase-II at Emirates Towers  on the 8th and 9th of March.

“We recorded DHS 79 million worth of sales during the pre-launch of Phase-I of Burj Pacific,” says Mr. Miguel Guadalupe, Chief Operating Officer of Pacific Ventures to Emirates Property-what’s your property craving in an Interview.

He added “Within two months the ground floor will be ready; we have approved the contractor and will officially announce the name of our contractor for Burj Pacific after we get the approvals from Rera for our Pacific Village project in Dubai land located along the city of Arabia theme park”.

Real estate in Dubai is moving forward, and the trend is likely to continue this year and apartments dominate the demand in the property market of Dubai; however, there is a slight shift in focus as there is an increase of  20%  in the supply  of villas  this year.

Mr. Guadalupe  said “Pacific Ventures earlier projects include: Jumeirah village triangle and Jumeirah village circle which we bought from other developers are partly sold though we don’t advertise about them since they are easy to sell especially studio, and one bedroom move faster  in Dubai  although high-rises or 22 storey buildings like the Burj Pacific with more than 160 apartments or big communities need attention of how we can make the public aware about new concepts.As a business, we run in a very customer-friendly way and take our consumers to the site, update them about the progress of the project and  the marketing team sends them pictures of the development on a regular basis”.

As per Jones Lang La Salle,the property company there is more development towards central as well as in the south of Dubai and Jebel Ali.

Mr.Migeuel also said “ Many of the people working in Downtown, Dubai,plan to move into other areas such as Sport city, Studio city, Jumeirah Village triangle, Arabian Ranches and nearby locations which are also beautiful to live and they take a nice hike,by driving to work”  .

Indians top as  Property Investors of UAE

“It’s been more of an end-user business this time around and helps us as a more regulated market; the government is more involved and for the end-user, it’s more real now”.

“As everybody knows Indian community is the number one investors in the UAE closely followed by the Pakistani community and Russians are third. Indian community is big in the UK, Ireland and other parts of the world; they buy a property for investing as well as to gift homes for their kids”.

He concluded “we are going to stay residential now while we build quality, good size units and make it affordable which start from 1.3 million for 1 bedroom, 2 bedrooms is 2.4 million depending on the size.1 bedroom size are usually 1000 square feet; 2 bedrooms are 2000 square feet, and 3 bedrooms are close to 3000 square feet and  maybe 4 or 5 years later, we might look into mixed-units”.

Anitha Lakshminarayanan

Please contact Anitha Lakshminarayanan-Freelance  Journalist at anithaideas@gmail.com for covering an event,conducting interviews or advertising on this blog or to know more about my writing-visit  http://anithaideas.wordpress.com/

Did you hear bubble!bubble! or Gone!Gone!

IMG_0713Is it  going to be smart, smarter, and  smartest for the property market of  Dubai despite the anxiety that create uproars of another bubble and so on? As opposed to the fears of the soaring prices which haven’t gone up yet to resemble the topmost figures of 2008  according to  property company,Jones Lang Lasalle albeit could stir mixed feelings in the market  or maybe a relief in the entire business is what one questions?

As we think about this further –Over the last nine months, there has been a dramatic increase of 22 % in the real estate sector of Dubai wherein the asking prices rose by 20% and 15% increase on villas year on year basis and apartments went up to 24% as per JLL report.  The rise in rental prices raised concerns as consumers need to be investigative on their spending and perhaps have a sensible approach to manage their expenses which hits on their disposable income. This further led to the new rental decrees for Dubai and Abu Dhabi.

There have been several arguments on the inflated prices of the realty sector in Dubai nevertheless the trend is likely to continue this year, however, will be less dramatic in 2014 as per the property company and Jones Lang Lasalle also stated the market is heading to a more sustainable mood where the regulations are in place right from speeding  up off-plan projects and stalled constructions in various locations are back on track.

With so much of Buzz  at the real estate front of Dubai after the doubling of property registration fees from 2 % to 4 % by the Dubai Land Department while, at the same time, DLD recorded DHS 236 billion worth of transactions last December. The primary reason for growth in this sector could be the massive development of the Aerotropolis community in Dubai Central or the expo site located  along this mixed-use development not only there are jobs created on this expo site, but also locations like Business Bay and Burj Khalifa have a huge influx of investors and buyers.

Across UAE there seems to be a boom time for the realty sector and Abudhabi is balancing its demand and supply as it constructs the city’s metro, and a number of other projects besides government’s decree to move many employees to the capital have pushed the housing prices in Abudhabi.

Major Developments or supply of residential houses are in Jumeirah Village, Business Bay and Dubailand. Most importantly the expo site in Dubai central will witness demand and supply of office, retail and residential units. And excessive availability of office spaces is one more issue which is being addressed; however, the constructions of houses are hitting a high after two years of stagnation.

With a flock of Buyers and many upcoming projects as well as government stepping in to check on its real estate prices while at the same time, 25000 residential units to be delivered this year-Dubai to have its smart move in place to avoid a bubble which is not possible to burst so where are you heading to Business Bay, Expo Site, Jumeirah Village, Jumeirah Lake Towers or the Al Shams Abu Dhabi?

you can also read more about this article on my other blog  http://anithaideas.wordpress.com/community-investment/did-you-hear-bubblebubble-or-gonegone/

Anitha Lakshminarayanan

Freelance Journalist,Please contact me at anithaideas@gmail.com for reporting on an event or covering an event , conducting interviews and writing stories on them.

http://anithaideas.wordpress.com/community-investment/did-you-hear-bubblebubble-or-gonegone/