Get Up-to-date on Dubai Property Market News
Rising inflation rates in Dubai are proving to be an obstacle for a lot of Dubai property buyers. In such an eventuality there will be fewer takers for Dubai property. Dubai is a city that is constantly coming up with new property projects of world class standard. According to property experts, if inflation rates continue to rise, it might have an adverse effect on Dubai real estate sector.
Meanwhile, newer projects have emerged in Dubai property market.
Latest property projects under construction in Dubai:
1) Commercial i) Fortune Pearl: A business tower in the Business Bay area of Dubai, this property venture will offer office space of about 300,000 square feet in 19 storeys. The construction cost of this property is about 108 million US dollars. This project will be available in Dubai property market sometime in 2009.ii) Silver Tower: A freehold commercial property development at Dubai’s Business Bay, Silver Tower will mostly consist of office spaces. A property that will cost about 122 million US dollars for its construction, Silver Tower will be a 31 storey building with 260 offices spread over 27 of its floors. Dubai property market will be able to claim its availability for sale in 2009. iii) King Abdullah Economic City’s power generation grid: A 110/380KV power generation grid is under construction for the Economic City property project by Emaar. For this, it has signed a deal with Siemens. Their will be two phases in its construction – the first will be over by the end of this year, and the second by June 2010.
2) Residentiali) Queue Point: Construction on 1,031 property units in the first phase of Al Mazaya’s Queue Point project in Dubailand has kick started. In this regard, Simplex Infrastructures has been handed over an 87 million US dollar contract for the construction of 838 residential property units. On the other hand, Model Engineering Contracting has about 20 million US dollar deal for the construction of 193 units.ii) Palm Deira Corniche: The first phase of construction is underway for the 81.6 million dollar Palm Deira Corniche project. This 30m wide and 9 km long Corniche will have parks and leisure services, along with a marina. Once completed, this will complement one of the premium property options in the world.
Another hot news of the day from Dubai property market is the reduction in the Notification of Completion certificate by Emaar Properties. Property owners across Dubai require this certificate at the time of selling their estate. There has been a whopping 90 percent slash in the same.
This much for today. For more on Dubai property news and updates, keep visiting our News column in future too.
Meanwhile, newer projects have emerged in Dubai property market.
Latest property projects under construction in Dubai:
1) Commercial i) Fortune Pearl: A business tower in the Business Bay area of Dubai, this property venture will offer office space of about 300,000 square feet in 19 storeys. The construction cost of this property is about 108 million US dollars. This project will be available in Dubai property market sometime in 2009.ii) Silver Tower: A freehold commercial property development at Dubai’s Business Bay, Silver Tower will mostly consist of office spaces. A property that will cost about 122 million US dollars for its construction, Silver Tower will be a 31 storey building with 260 offices spread over 27 of its floors. Dubai property market will be able to claim its availability for sale in 2009. iii) King Abdullah Economic City’s power generation grid: A 110/380KV power generation grid is under construction for the Economic City property project by Emaar. For this, it has signed a deal with Siemens. Their will be two phases in its construction – the first will be over by the end of this year, and the second by June 2010.
2) Residentiali) Queue Point: Construction on 1,031 property units in the first phase of Al Mazaya’s Queue Point project in Dubailand has kick started. In this regard, Simplex Infrastructures has been handed over an 87 million US dollar contract for the construction of 838 residential property units. On the other hand, Model Engineering Contracting has about 20 million US dollar deal for the construction of 193 units.ii) Palm Deira Corniche: The first phase of construction is underway for the 81.6 million dollar Palm Deira Corniche project. This 30m wide and 9 km long Corniche will have parks and leisure services, along with a marina. Once completed, this will complement one of the premium property options in the world.
Another hot news of the day from Dubai property market is the reduction in the Notification of Completion certificate by Emaar Properties. Property owners across Dubai require this certificate at the time of selling their estate. There has been a whopping 90 percent slash in the same.
This much for today. For more on Dubai property news and updates, keep visiting our News column in future too.
posted by Property Reporter at
10:45 PM
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