Tag Archives: Apartments dominate property market in Dubai

Dubai real estate B2B conference eyes a big push

By Anitha Lakshminarayanan

Dubai’s real estate industry is poised to attract more growth in the next few years, with industry experts saying that the emirate’s property market fundamentals remain stronger than ever. Looking to play a crucial role in the continuing growth of the industry, Real Events, the newest and fastest-growing events management firm operating throughout the UAE and the greater Gulf region, will be hosting the first edition of ‘Dubai Real Estate B2B,’ a conference that aims to connect potential investors with the emirate’s industry leaders, which will be held on October 15 to October 16, 2014 at The Ritz-Carlton Dubai Marina. The event is being organized under the theme, ‘All questions answered’ and will serve as a strategic platform that will help these potential investors make a smooth entry into Dubai’s thriving real estate market.

According to Real Events, the event will be graced by senior level government officials and will feature 15 presenters from the United Arab Emirates 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. Aside from its move to bind international investors with Dubai-based real estate experts, the exciting two-day event will also include key discussions and round tables focusing on important industry issues and topics like newly implemented regulatory measures, issues on brokerage, lease contracts, registration and certification, duties and compliance; assessment of the Dubai Real Estate Market for 2015 and Beyond; buying properties off-plan; Wealth management and zero taxation.

“These are truly exciting times for Dubai’s real estate industry, which continues to show its vibrancy in the large number of projects that are currently ongoing and the even larger projects that are in the pipeline,” said Julia Zajak, General Manager, Real Events. “As industry experts are forecasting continuous growth and have placed high-confidence in the projects present today, we are proud to organize the first edition of Dubai Real Estate B2B, a conference that aims to give potential investors the necessary information they need to enter the emirate’s real estate market. This event will serve as a key venue to help international and local brokers and their clients meet mortgage providers and banks for non-residents investors.”

Dubai Real Estate B2B Conference will host 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 will be 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.

“This event is just the first of the many initiatives that we are set to organize in order to drive in more potential foreign investors in Dubai, particularly across the rapidly thriving real estate segment. Rest assured that we will remain steadfast in our commitment to encourage growth and diversity, while at the same time look towards consolidating our ties with other companies in the international real estate community. We look forward to seeing you all at Dubai Real Estate B2B Conference, “concluded Zajak.

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/

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/