Owner: Dubai Real Estate News URL:http://www.estatesdubai.com Join Date: Sat, 07 Apr 2007 23:35:44 -0500 Rating:0 Site Description: A Dubai Real Estate Blog. Dubai real estate professionals blog about everything Dubai property, mortgages, freeholds and more. Site statistics:Click here
Growth in Dubai Mortgage Market help buyers 2007-04-07 20:47:00 UAE is seeing a surge in its mortgage market, with more players offering a diversity of mortgage-related offerings. This is a good thing for the country and the people who live here. According to one leading mortgage provider in the region, total mortgage loans in the UAE are set to reach Dh20 billion by the end of this year. The market could hit Dh100 billion by the end of the decade – almost a ten-fold increase since 2004.The UAE’s growing mortgage market is reflected in the number of home-loan providers setting up operations here. Until recently, there were only a handful of mortgage companies in the country, and the sector was dominated by local banks. Today, international financial institutions are lining up to take advantage of the lucrative business opportunities available in the region.More competition, in turn, will lead to more attractive loan packages for buyers, which will fuel more interest among prospective homeowners, which will increase competition further, and so Read more:Growth
, Dubai
, Mortgage
, Market
L&T inaugurates new concrete plant worth Dh.48 million 2007-01-27 18:45:00 The Larsen and Tourbo (L&T) company of India inaugurated a Concrete plant worth Dh.48 million
with 240 cubic meters capacity per hour in Jebel Ali. This plant is said to meet the need for ready-mix concrete
which has a growing demand currently in the UAE.Currently L&T supplies and manufactures three million cubic meters of concrete every year by way of sixty factories spread throughout the country. These operations are carried out by an army of five hundred transit mixers, hundred stationary pumps, and six mobile concrete pumps with a twenty eight percent market share.As a part of its expansion plans, L&T plans a total number of 150 plants in India towards end of 2010. The company also has expansion plans in the Middle East, and is in particular concentrating on Abu Dhabi, Ras Al Khaimah, Muscat and Sohar.The Senior Executive Vice President and Board of Member of L&T, K.V.Rangaswami, expressed his confidence that L&T will leave a mark as a major force in this particular segment
Dubai Sports City awards contracts to Eastern and Transemirates 2007-01-27 18:42:00 The major construction contracts for the Academies area of the DSC (DubaiSports
City), which comprises of facilities for ICC Global Cricket and United Soccer Schools has been awarded to Eastern
International and Transemirates.Positioned in the South-east corner of the DSC, the area is also likely to include a World Hockey Academy, Field Hockey Stadium, a 2500 Sq. mt gymnasium, a rugby training facility, Bradenton Preparatory Academy, and an Olympic length swimming pool, in addition to two hostel accommodations with a capacity to accommodate 524 people.Eastern International is the Principal Contractor for Bradenton Preparatory Academy, which is a school with sports certification, which imparts training as per American Baccalaureate Curriculum. The major Academies Area contracting has been awarded to Transemirates.
DIC Project to be completed by April 2007-01-24 18:38:00 Conmix, a construction material provider in service for more than thirty years, is now the first investor to begin construction at the industrial free zone, as stated by Dubai Industrial City.The two factories, construction chemicals and pre-mix plaster, covering an area f 200,000 Sq. ft., are in the process of development at an investment of Dh.42 million. The two factories together will contribute an annual production of 200,000 tonnes and are scheduled for completion by April
this year. Read more:Project
Ajman be the next attraction for tourists and investors 2007-01-24 18:33:00 The Ajman Government is all set to make the place more tourist and investor friendly, and is making initiatives towards attracting investors through a series of projects, The Chairman of Ajman Municipality and Planning Department, Sheikh Rashid bin Humaid Al Nuaimi, has revealed that Ajman is investing in hospitality, infrastructure, and other environmental projects to woo tourists
and investors alike. He also mentioned that Ajman is in the process of entering into an agreement with a company for developing a master plan for the emirate.Real Estate and Housing is said to be the top-most priority among Ajman’s developmental agenda. In addition to the real estate projects that are under construction on Emirates Road, Emirates City and Al Amira Village, three others are in pipeline. The total investment for the entire five projects is about Dh.20 to 25 billion.Ajman’s next priority is the sanitation project, which is likely to get operational by the end of the year and will connect mo
Sixty one Storey tower to be built in memory of Sheikh Zayed 2007-01-24 18:31:00 In memory of late Sheikh Zayed
bin Sultan Al Nahyan, architect of the UAE, a sixty one storey tower is likely to come up in Dubai, shortly.The Al Hekma Tower (Wisdom Tower) is planned by Sheikh Issa bin Zayed Al Nahyan, as an appreciation of the unequaled contributions made by Sheikh Zayed during his term, towards promotion and development of UAE and the greater Arab world. The name of the building was chosen by Sheikh Issa himself in recognition of the good judgment and intelligence of the late President, Sheikh Zayed.The project is located close to Defence Interchange on Sheikh Zayed Road and will exhibit an image of Sheikh Zayed, which is fifty meters in length, on top of the tower. As per report from Pearl Properties, owned by Sheikh Issa, the portrait, on completion, will be the largest among the single individual portraits in the Middle East.The value of the project is yet to be disclosed. The Tower is scheduled for completion in 2008. Read more:Sixty
Sharjah Municipality puts an end to the land row 2007-01-24 18:23:00 The Sharjah Municipality demolished the structures at a disputed compound located at Al Zaha in Sharjah. More than 1200 workers are said to have been staying in these buildings. This also puts an end to a long dispute between Sharjah Municipality and the owner of the compound, after the municipality officials leveled the buildings yesterday.According to the officials of Sharjah Municipality, the buildings were constructed in an area which was actually allocated for agricultural purposes wherein constructions of structures were prohibited. However, provisional buildings were erected within the compound, providing cheap accommodation to the workers of various companies, as the rents for labour camps in Sonapur were pretty high. The electricity to the buildings were disconnected a couple of months ago, following which the municipality had warned the tenants to move out of the compound.The Owner of the building had obtained a stay-order from the court against demolishing the building and h
Dubai’s Skyline likely to emerge as a strong competitor 2007-01-24 18:20:00 The renowned Architect, Hazel Wong, has proclaimed that Dubai
’s Skyline
will be a competitor
in days to come with most other architecturally well-known cities.Wong, the Regional Director of RMJM, an architectural firm in Dubai, who also helped in designing of the Emirates Towers in Dubai, said that the architectural spotlight will be shifting to Dubai, which also has designs such as the Dancing Towers and Burj Dubai.While speaking during the landmark ceremony of the West Wharf Residential Tower in the “New Manhattan” Business Bay in Dubai, Wong is reported to have mentioned that Dubai has stood apart in being the main focus of global architecture and is continuing to attract plenty of international tourists. The velocity of developments, wherein the planning and building of the projects takes place at a very rapid pace, is very satisfying for the architects.UAE has been attracting some of the renowned architects, like for instance Zaha Hadid, the first woman to be awarded the pre Read more:likely
, emerge
First phase of Saqr Port expansion inaugurated by KGL 2007-01-24 18:15:00 A new container terminal was opened at Saqr Port in Ras Al Khaimah by the Kuwait based KGL Ports International. KGL Ports had earlier secured a twenty one year allowance to develop, operate and own the terminal, the official inauguration of which is scheduled during March. The current phase
of the project is worth $70 million, which is a part of $250 million investment plan for the expansion of the port. The capacity of the port is likely to be increased to three million from the current 350,000 twenty-foot equivalent units (TEUs) within a span of five years.The Chairman and CEO of KGL International Ports, Mohammad Al Mazeedi, has stated that this milestone indicates the major role played by the company in the area of ports management and the ability to fulfill their business objectives in compliance with its long term plans. Mazeedi has mentioned that after the official inauguration of the port, 150,000 containers will be shipped at the Saqr Port from local companies. He added that th Read more:First
, inaugurated
ETA Star hands-out three UAE projects worth Dh.1 billion 2007-01-21 18:34:00 ETA Star, the Dubai-based property developer has handed over construction contracts for three projects in the UAE, which is worth more than Dh.1 billion
.The company has entered into a deal with Dubai-based contractors Civil Company for construction of a four block apartment complex, Centrium, at the International Media Production Zone (IMPZ) located in Emirates Road.In the meanwhile, the tender for Al Manara Project (a commercial tower designed by Singapore firm) which is located at the Business Bay master development was handed over to Ascon by ETA Star.The last contract was picked up by Fast Contracting for the work on aresidential project Star Heights, located in Al Nahda, Sharjah, theconstruction of which, is likely to last for more than twenty five months.The officials of ETA Star said that the company is laying emphasis on the construction of the main structures. The Al Manara project is scheduled to be completed by 10th January 2009, while the Centrium is due for completed by 15
Burj Dubai, the World’s tallest tower, now comprises of hundred floors 2007-01-17 19:19:00 The World
’s tallest tower, Burj Dubai
, attained hundred floors, thereby being the sixth to touch the milestone scaling of 347.3 meters. Burj Dubai, is also one among the thirty eight structures of the world with a height of more than three hundred meters. Burj Dubai, is now higher than the other three constructions in the region – the Emirates Towers Hotel (309 mts), Burj Al Arab (321 meters) and Saudi Arabia (302 meters)The other structures in the world to cross hundred storeys are John Hancock Center, Chicago (100), Taipei 101 (101), Seas Tower in Chicago (110 floors), Empire State Building in New York (102) and Ryugyong Hotel in North Korea (105).
Real Estate Resources 2006-12-28 07:54:00 Real Estate
Blogs Directory- Directory of real estate blogs and blogs of industries affiliated with andserving the real estate industry.Glo-con Web DirectoryFree PR4 General Directorynwkk.com is a Free Link Directory. You can trade or exchange links with your Family friendly web sites. Add a Reciprocal and we make your listing a Featured one. Link Exchange that work and benefit your web site traffic and ranking.Homes Go Fast-Real Estate
- Overseas property & property abroad. Buyers find houses for sale from locations worldwide.Sellers, sell property by promoting your homes for sale on our real estate network Read more:Resources
SunAlliance give home insurance to SGG residential projects 2006-11-09 09:58:00 Star Group Global (SGG), UAE based real estate developer and Royal & SunAlliance (R&SA), world’s leading insurance
providers have signed an exclusive agreement for one year free home insurance in SGG’s residential
projects currently underway.The 17-storied Yacht Bay tower and the 34- floor Royal Oceanic, both located at the prestigious Dubai Marina are the projects included under this insurance. SGG revealed this as gifting peace to the customers. SGG has developed expensive fittings and possessions in its residences.Star Group Global has the region’s top architects, consultants and contractors involved to provide high-quality real estate projects. SGG has a 50-year history in the UAE of tailoring personal and commercial insurance solutions and Royal & SunAlliance brings both global experience and local knowledge into this innovative offer of home insurance.
Lootah real estate comes up with Shamal Terraces 2006-11-09 09:55:00 Lootah Real Estate Development has announced the launch of Shamal Terraces. Shamal Terraces is a town house development representing different type of town house developments. The company has more than 6,000 workforces and has completed over 1,000 units so far. It is located in Jumeirah Village.Each townhouse is proposed to spread across three floors with three bathrooms, occupying 4,285 square feet. High ceilings and large glass sliding doors create well-lit, spacious living areas that provide a sense of luxury and homely comfort.Each townhouse will have state-of-the-art facilities including a high-speed internet connection in every room, intelligent home automation system with monitored access, contemporary kitchens with excellent finishes as well as a 2-car garage with remote-controlled gate. Read more:comes
White Bay project in Umm Al Quwain 2006-11-09 09:52:00 Shaikh Abdullah Bin Rashid Al Mualla, Umm Al Quwain Deputy Ruler, and Shaikh Tariq Bin Faisal Al Qasimi, Chairman of the Emirates Investments Group LLC (EIG) have recently signed an agreement for the establishment of White
Bay.White Bay is proposed to be a master planned community and tourism resort in Umm Al Quwain. The project is worth more than Dh8 billion. It will be marketed and managed by Emirates Sunland Group (ESG). ESG is 50:50 partner of Sunland Group, an Australia based property Development Company, and UAE-based Emirates International Holdings Ltd.White Bay is proposed to be a destination for those who would like to experience the facilities and services of a world-class resort, all in the natural environment of Umm Al Quwain.
Dheeraj East Coast to come up with 16 projects 2006-11-09 09:41:00 Dheeraj East Coast
(DEC), a joint venture between India’s Dheeraj Group and the East Coast Group announced the launch of 16 projects worth $1 billion (Dh3.6 billion). DEC took off with its maiden project DEC Towers which is worth Dh300 million in Emaar's Dubai Marina. It is a twin-tower with 21 and 25-storey residential area and an L-shaped retail segment on the ground floors.The company has managed to buy plots and is developing many projects in Business Bay, Jumeirah South Village and Culture Village. In Dubai Marina alone, DEC has six plots and its investments in this community are in the range of Dh1.5 billion. The company is ready to launch a new residential project, Marina Wharf II.In Business Bay, DEC is coming up with three commercial towers at an investment of approximately Dh800 million. The projects will include a unique corporate tower which will be developed on 650,000 square feet and will offer single unit office space as large as 3,500 square feet. The project is also
Emaar Properties wins award 2006-11-03 17:59:00 Emaar Properties
has won Construction Week’s ‘Developer of the Year’ award for its adherence to build quality, aesthetics, timely delivery and evidence of intelligent master-planning. Ahmad Al Matrooshi, UAE Managing Director of Emaar Properties received the award from Grahame McCaig, General Manager and Zeyad Baker, Deputy General Manager of Dutco Balfour Beatty.The Developer of the Year Award from Construction Week, an industry-specific publication, is a great honour in its own kind. The winners were selected by a high-profile panel of construction industry experts by consensus.Emaar has handed more than 14,500 homes in Dubai through its various projects including the Arabian Ranches. Emaar has announced several development projects in Saudi Arabia, Syria, Egypt, Morocco, Tunisia, Turkey, India and Pakistan.
Dubai land sales cross Dh3bn mark 2006-11-03 09:55:00 According to the Dubai
Land Department, land deal transactions have touched the Dh3.09 billion mark in the month of October this year. Aim for this year is to touch Dh38bn mark by way of land deals.In all 234 cash sales transactions worth Dh1.03bn have taken place last month. Out of which 135 were mortgage transactions which were worth Dh1.96bn and 15 were donations of land and property which were worth Dh97.48 million.The total value of real estate has thereby risen in the year 2006 compared to that of 2005. The real estate value touched Dh17.3bn in the first half of 2005 and was estimated at Dh20.6bn in the same period this year.
New Grosvenor business tower from Asam Investments 2006-11-03 08:58:00 Asam Investments
and Real Estate, a real estate investment and development-focused company revealed its plans to launch Grosvenor Business Tower at Dh450 million that will be located in the Tecom free zone.International companies who seek to establish their businesses in free zones are drawn to Dubai. Free zones help customize policies and infrastructure. The tower will have a rooftop recreation zone called ‘The Unwind’ and will also have a health club and rooftop pool with sauna and steam rooms, and a retail zone.
Dubai Properties to take part in UAE-Asia Investment Forum 2006-11-03 08:05:00 Dubai Properties
has announced that it will participate in the first UAE-Asia
Investment Forum
during Global Inter policy Singapore. It said it will also discuss business development opportunities with investors in the Far East. The event is expected to attract over 15,000 visitors. It will take place from October 30 to November 3.Dubai Properties is also the Platinum Sponsor of the five-day event, which will provide investors with information about business expansion opportunities and investment solutions in Singapore.It aims to reach out to clients looking to capitalize on the region’s dynamic business opportunities and set new challenges for business growth.Dubai Properties’ participation in the event will serve to strengthen Singapore and Dubai relations. Dubai Properties has been partnering with Asian counterparts in the areas of property investment and development for quite some time now. Read more:Dubai
Omniyat Properities open Gemini sales 2006-10-28 20:56:00 Omniyat Properties, the real estate development arm of Almasa Holdings, has opened its fourth commercial project, Gemini
, a Dh500 million freehold office tower in Dubai’s Business Bay.Gemini will be completed in the second quarter of 2009 and will raise 20 storeys and will comprise of 260,237 square feet of office space. It is aimed to be a unique structure with the façade being constructed from solid black granite blocks with meandering aluminium and white glass.It will have twin towers which will be linked by a 15-storey central block with house freehold offices, serviced offices, a tranquility zone, retail and medical facilities. The building is designed to have four underground parking levels, and will promote the ‘everything-under one-roof’.Gemini will aid efficiency as staff will not have to leave the office to pay bills, go to the dentist or visit the travel agent. All these tasks can be done in one place with minimal effort which will enhance workplace productivity.
Property recruiment consultancy opens in Dubai 2006-10-27 22:23:00 UK-based property recruitment consultancy Macdonald and Company has opened its first Middle East office in Dubai
.Macdonald and Company specialises in finding recruits in fields such as development, investment and finance, project management, architecture and urban design, and building. Dubai was a natural choice for them to open an office because of its rapidly growing economy and property sector, the company said in statement.
Earth course villas of Nakheel go on sale 2006-10-27 22:03:00 Villas at the Lime Tree Valley development at Nakheel's Jumeirah Golf Estates will go on sale from November 7.A first phase release of 121 properties, which are adjacent to the Earth
golf course
, have four to six bedrooms ranging in size from 4,200 sqft to 6,995 sqft. UAE-based CHI Development Group was the developer, and Better Homes is principal sales agent. Lime Tree Valley is one of seven residential developments planned for the Earth golf course.
Al Madar announces foray into booming UAE market 2006-10-27 19:06:00 Al Madar Property Investments has announced its foray into the fast-growing UAE property market with a string of residential and commercial projects. The property developer plans to invest several billion dirhams in seven major projects in Business Bay in Dubai and GCC.Al Madar Group was founded in 1992 as a company specialized in the design and construction of civil and industrial projects as well as infrastructure and marine development works. Al Madar has since grown to become one of the premier business houses in the Gulf and has today a presence in several business and industrial sectors, including real estate, contracting, engineering, manufacturing and trading.By launching a series of high-profile projects in the UAE, Al Madar hopes to capture a sizeable share of the country's booming property market and reinforce its regional standing. Through its projects located at Business Bay, it aims to cater to the country’s demand and tap into the country's rapidly expanding property
Nakheel finished 4000 apartments and villas 2006-10-26 22:27:00 Nakheel is currently developing 17 projects across Dubai and has recently announced that it will hand over about 4,000 apartments and villas on the Palm Jumeirah within the next few months. Chris O’Donnell, Chief Executive Officer of Nakheel said that the Dubai property market “will continue to prosper”.There is still huge demand for villas currently and they still have room to move price wise. With apartments, however, things might slow in the next six months. O’Donnell laid stress on the high standard of quality. He added that Nakheel is in no hurry to sell the land on the $3 billion (Dh11bn) The World project. Currently, 25 per cent of the land on the development comprising 303 islands has been sold.Rather than counting the number of islands that they have sold, Nakheel factors in the land sold. There are two things about selling land. One is the square foot rate that you sell it at and the time when you sell it. Nakheel are at a point wherein they have sold 25 per cent of t
Capital Bay Tower from Damac Properties 2007-04-10 18:40:00 Damac Properties
yesterday launched Capital Bay Tower
s, its fourth project in Dubai’s Business Bay. Capital Bay will consist of two 19-storey towers featuring office, residential and boutique retail space. The towers will feature four levels of parking, swipe access, high-speed internet, business lounge, reception desk, and 24-hour security. A well-designed workplace with a comfortable indoor en vironment leads to a workforce that is not only healthy and happy but also more productive. Innovative, state-of-the-art facilities are tools that increase productivity.Damac’s first three Business Bay projects were Executive Bay, Business Tower, and XL Tower.
Dubai Waterfront being released to investors 2007-04-10 17:40:00 The first section of DubaiWaterfront
– the world’s largest waterfront development – is now being released
to investors. Master developer Nakheel began the four-month handing over process of the Madinat Al Arab yesterday.The first phase, which consists of more than 200 plots, was sold for Dh13 billion in July 2005. Nakheel has sold 70 per cent of the plots in the first phase, with the remaining 30 per cent retained for its own developments.Investors will this week attend a three-day workshop where they will be briefed on the site’s planning and building approval processes. A process map, explaining the different stages of construction, is also provided.The workshop sessions will be followed by one-on-one meetings between each investor and a number of specialist consultants such as master planners, Dubai Electricity and Water Authority officials, and environmental regulation advisers.Ensure Dubai Waterfront is a very environmentally sustainable development, with, a clear recover
Hinduja invest in Dubai Water Front 2007-03-28 08:26:00 One of India’s leading businesses groups, the Hinduja Group, plans to invest
more than Dh1.01 billion in Dubai
Waterfront, Nakheel’s mixedused waterfront development in Dubai, according to a statement issued by the Hinduja Group yesterday.“The Hinduja Group has bought a two-million square feet prime plot at Madinat Al Arab [the focal point and downtown area of Dubai Waterfront] to develop resorts and residential towers, ranging between 10 and 50 stories,” Khaled Issa Al Huraimel, Dubai Waterfront’s General Manager for Madinat Al Arab, told Emirates Today.“The investment by the Hinduja Group forms a part of the first phase of Madinat Al Arab, and most developments would be sea-facing.” Meanwhile, the first phase of the Madinat Al Arab, which according to Huraimel, was “completely sold out in 2005 for Dh13bn”, would constitute resorts, residential and commercial properties.Nakheel will start handing over the land at Madinat Al Arab to developers this year, according to Read more:Front
Construction of sub-sea tunnel in The Palm 2007-03-09 19:16:00 The real estate major Nakheel, the company behind the developing Palm Jumeirah, has announced the construction of a sub-sea tunnel
which links the center of the Palm and the Crescent. The tunnel which has six lanes is 1.4 kilometeres in length, 25 metres below sea level and is 40 metres in width. The tunnel comprises of two cells for traffic with three lanes running in each direction, and an emergency cell in between.To enable the tunnel construction, a long coffer dam (a dam which helps in excluding water from an area which is otherwise submerged) which is three kilometers in length was constructed during October 2004. The dam was constructed by lashing sheet piles deep into seabed. On construction of the dam, about 4.3 million cubic meters of sea water was removed at a speed of 1000 cubic meters per hour from the cofferdam within 45 days.When the dam was free of water, the tunnel construction went underway. The construction of tunnel required 200,000 cubic meters of durable concrete, Read more:Construction
Burj Dubai construction suffer delay 2007-02-04 20:02:00 The construction of 900 million Burj Dubai
, the world’s tallest building is behind schedule by a couple of months in comparison to the scheduled work timetable, as admitted by the officials.The reason behind this hitch is mainly due to the bankruptcy faced by Schmidlin, the Swiss-based curtain walling giant, which was contracted for installation of exterior-cladding on the concrete tower.Greg Sang, the Assistant Director of Projects, Emaar group, stated that they encountered problems with their Partners regarding the curtain wall cladding, which in turn left its impact on the site. He added that a new contractor is now working on the project, and is showing good progress.However, Sang denied comments that the completion of construction would take a year later than its scheduled date i.e., the last quarter of 2008. He confirmed that though there could probably be a couple of months delay, the final completion date is still scheduled for end of 2008.The exterior cladding of Burj Dubai Read more:suffer
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