Emaar Healthcare Group To Offer Healthcare Facilities In Dubai

Emaar Healthcare Group is now expanding its horizon and its presence in Dubai as new facilities are to be opened in Downtown Burj Dubai, Meadows and Arabian Ranches. Emaar Healthcare Group is the subsidiary of Emaar Properties. The CEO of Emaar Healthcare Group, Omar Al Shunnar said: “Emaar Healthcare Group is dedicated to providing excellent medical facilities, manned by highly-skilled healthcare professionals and equipped with the latest technologies. With a clear commitment to deliver world class healthcare to the communities we serve, we will provide the utmost care and attention to our patients and ensure a caring and secure medical environment with a strong focus on customer service.”

Emaar is expanding to healthcare sector which shows that the developer’s are committed to develop integrated communities along with amenities thus, enhancing the quality of life. Downtown Burj Dubai Medical Centre has got opened late this year which is a flagship healthcare facility which got opened under Emaar Healthcare Group. This medical centre is highly advanced; it offers special primary patient care specialties. Moreover, it offers advanced diagnostic services along with on-site laboratory facilities.

Excellent medical facilities are being provided maintained by skilled professionals by Emaar Healthcare Group. Every medical centre is equipped with latest technologies. The CEO said: “With a clear commitment to deliver world class healthcare to the communities we serve, we will provide the utmost care and attention to our patients and ensure a caring and secure medical environment with a strong focus on customer service.” He further added “The partnership with Methodist International underscores our commitment to develop world-class facilities of the highest standards for patients. Methodist Hospital is one of the world's leading names in healthcare delivery and their reputation and experience complements our objectives. Through our linkage with Methodist, we will leverage their expertise in providing value added services including the ability to source second opinions from the US.”

Light Rail & Tram System in Abu Dhabi By 2014

The first phase of the tram system will be ready by the year 2014 which will serve the areas within the city of Abu Dhabi and areas close to the metro. The Director of Public Transport Department in Abu Dhabi, Hashim Al Hashemi said: “The 340-kilometre tram system is part of an ambitious and far-reaching Surface Transport Master Plan that will meet the people’s and economy's mobility needs as part of Plan Abu Dhabi 2030.” A detailed study of this Tram project in Abu Dhabi will be conducted. Local and international consulting firms are being invited for submitting their bids in order to conduct the detailed study.

This Rail and Tram study features an integral part of the Surface Transport Master Plan (STMP). This necessary step is to be taken for the development of a comprehensive transport infrastructure by Department of Transport. The population of Abu Dhabi is expected to increase to 3.2 million by 2030 and the daily personal trips will also get increased, thus a well developed transport system has to be installed. The DOT will closely work with the selected consultant in order to asses the feasibility and financial stability of this project. It will be compared with models of the initial design. Vehicle size and other technical specifications will be studied.

The complete study will be done for a time period of about 18 months. Moreover, this Light Rail and Tram system is considered as one of the vital means of transport. This mode of transport is popular due to its energy efficiency, large capacity; cost efficiency and its operation in densely populated areas. The first phase of the project will be 42.5 kilometers long and it will be ready by 2015.

Business Avenue To Be Ready By Year-End By Al Mazaya

Business Avenue is ideally located in Jumeirah Lake Towers. This Dubai real estate project consists of three 44 storey commercial towers which has a total worth of Dh1.25 billion. Al Mazaya Holding is one of the distinguished real estate development companies headquartered in Kuwait. The company offers products and services in various related fields. Moreover, Mazaya is one of the first companies that have launched a comprehensive real estate index in the GCC. The company has announced that around 65 percent of the construction work has been completed on Business Avenue.

This real estate development company has positioned itself in the Middle East property market. There are various projects including residential buildings, deluxe villas and other high class commercial projects such as industrial developments.

Moreover, finishing work has already started on the parts that have been completed in the project. Senior Vice-President of construction at Al Mazaya in Dubai, Fathi Al Dhameri, said: “Construction works at Business Avenue project is progressing well and according to schedule, despite some challenges faced during recent times. We are committed to delivering the project by the end of the year, and to highest quality standards." According to him the progress at Business Bay serves a great response. This has created a boom for the office sector in Dubai and those who believed that office sector has no future are stunned by this construction.

Fathi Al Dhameri further added “We believe that the office sector in the GCC and Dubai in particular, will definitely recover from the drawback it witnessed during the global financial crisis. Dubai is focusing on diversifying its sources of investments and attracting more companies and individuals to retain its leading position, which in turn will increase the demand for office space as companies require headquarters and facilities in the emirate.”

30 Percent Increase in Property Prices in Jumeirah Village

Dubai real estate has now witnessed a 9 month period of decline. Moreover, now some early signs of recovery of the property sector can be seen. According to some recent reports, the property prices in Jumeirah Village have tremendously increased. The prices have climbed by 30 percent from their lower levels of pricing in January this year. As far as property in this community is concerned, the construction of Gardenia I & II is getting fastly tracked. This property construction is strategically located in Jumeirah Village. The construction of this project is being tracked by a well known real estate developer in Dubai, Memon Investments.

Jumeirah Village itself is a well designed community developed by a master developer; Nakheel is set to provide authentic and stylish commercial, residential and retail space. MD of Memon Investments, Ahmed Shaikhani said: “We take pride in bringing to customers a variety of property units that address their requirements in luxury and style; however, we believe that we have also proven ourselves as an organization that is dedicated to fulfill our promises to our clients amidst the rise of difficult challenges.”

Moreover, this widely developed 811 hectare integrated community has not been impacted to the same degree as other residential properties in various communities across Dubai have been. Therefore, properties in Jumeirah Village still present profitable investment options for those who really want to invest their money in property sector. Thus, more and more investors are looking forward for investing in this opportunity with lower risk. Memon Investments has reported an increased demand especially for Gardenia I & II projects.

Construction Gets Completed on Al Gurm Gardens

Burooj Properties is the real estate arm of the Abu Dhabi Islamic Bank. It has recently announced a completed construction of Al Gurm Gardens villas in Al Reem Island. These villas are adjacently located near Abu Dhabi International Airport and are adjacent to Khalifa Park. Moreover, Abu Dhabi real estate sector has witnessed a long freefall period, following a period of growth over the last few years. The Government made lot of plans to help the real estate market function better. It accelerated the complete recovery process in order to complete the existing projects. Moreover, the Abu Dhabi economic vision has greatly helped in opening up new vistas for investments. Therefore, despite of the downturn, the stability of the real estate sector is not a surprise.

Burooj Properties is a master developer for various mega projects in the UAE region. The successful completion of the Al Gurm Garden Villas features a total of 80 villas and it boasts of a strategic location. Each villa in the project covers an area of 4124 square feet. The project got launched in January 2009 and the total completion work of the building got over within 7 months. The handover for the villas have now been confirmed for the end of this year. Adel Ahmed Al Zarouni, the Managing Director said: “The achievement at Al Gurm Gardens is proof that risks can be avoided by adopting appropriate planning, whatever the market conditions are. We believe that a number of factors must be considered before investment is injected into any region of the world. The most important factor is the investment location. We have selected Abu Dhabi, as the UAE's capital has become a destination of choice for real estate investment due to the visionary urban development plans adopted by the government. This policy ensures a sustainable market growth and balance on a long term basis.”

These Gurm Gardens boast of smart building features including air conditioning, security, touch buttons and a lot more contemporary features. This project boasts of a distinctive architectural design, thereby, making it an ideal residential dwelling.

Price Index Cuts to Revive Investments in Dubai Property Sector

Earlier, Dubai property developers were reliant completely on off-plan sales in order to finance their future and other onging projects. At the time of property boom in Dubai, the demand for these off-plan properties was further promoted, however, the global crunch has made the finances extinct and the value of the off – plan property market virtually disappeared. This further leads to project cancellations and construction delays. As there were loan to value reductions and higher interest rates the disturbances in the real estate sector gets aggravated. Those developers who have good financial fundamentals could only carry their projects towards completion in this current situation.

In the current state, the prices for Dubai properties are quiet uneven and there are few takers for off-plan units. Moreover, the property sector is now dominated by the buyers there was an oversupply of units coupled with distress sales in order to raise liquidity for mortgage repayments are affecting sales price adversely. There are communities where distress sellers are disposing off properties. Currently foreign investor’s interest is attracted towards ready-to-move-in villas and apartments. Moreover, now the prices are being decided on the basis of quality of construction, the amenities to offer, accessibility and project location.

As per the market analysis done, there is still a strong demand in mid-level segments such as International City where prices have fallen by 25 to 30 percent. The prices have been corrected to realistic levels and the emirate has suddenly become a hot market of affordable properties. Moreover, these properties are not only affordable but also guarantees high returns in the long-term. According to the estimates the prices could continue to drop, whereas in Q4 it is expected to climb up again.

New Property Regulatory Authority Has Been Introduced In Ras Al Khaimah

The implementation of the escrow accounts law will be overseen by the Ras Al Khaimah Investment Authority (RAKIA). This will be done for all freehold development projects. This regulatory authority is similar to the one operating in Dubai and this new watchdog monitors the developments. There are several property developers who have already registered their projects with RAKIA. Moreover, the developers whose projects design concept gets approved can only register their project with the authority, which then allows them to open the escrow account with which they can start selling of their properties. Moreover, the RERA and RAKIA will send out a team of engineers in order to inspect the construction of the projects.

Yahia Kambris, the General Manager said: “The escrow account has been implemented to prevent mishandling of construction funds and ensure that investors' money is spent according to the master plan of the project.” He further added “The establishment of the new real estate watchdog is an important step in our efforts to safeguard and protect the interest of investors and reinforce the reputation of Ras Al Khaimah as an attractive and practical investment destination in the region.” There are developers which have already registered with RERA and RAKIA. These include: Blue Mirage real estate developer Pure Real Estate, Manazil Real Estate developing Marbella Bay, Select Group, Stallion Properties and many more.

Developer of the Quay, Yes Properties is currently involved in completing the registration process which will soon lead to opening of an escrow account. There are several banks which have also signed agreements with RERA to offer escrow accounts. Some of the banks which have signed agreements include Commercial Bank of Dubai, Bank of Baroda, Dubai Islamic Bank and Badr Al Islami-Mashreq. Thus, a new layer of protection is being made to real estate investors in the emirate.

Ajman Real Estate To Benefit From Easy Availability Of Property Finance

The Sweet Homes Holdings is a multi-service provider to real estate market and a UAE based developer. According to them the availability of mortgage financing, the Ajman property sector will be highly beneficial. The developer added that these mortgage schemes could boost the efforts that are being taken by the Ajman Government. The vital steps to regulate the property sector in the emirate are being continued through Ajman Real Estate Regulatory Authority (ARRA). Presently all the developments in the emirate that are being acquired through self-financing with the money are directly going to the developer, however, various uncertainties are being left behind in terms of financial security.

The CEO of Sweet Homes Holdings, Fahad Sattar Dero said: “The exemplary efforts of the Ajman Government to attract property investors has resulted in significant developments, which has put Ajman in a strategic position to overcome the challenges of the economic crisis. However, we believe that providing mortgage financing for investors who are looking at venturing into Ajman will further encourage investment activities in the market. We are optimistic that combining all these factors will result in greater stability for the Ajman property sector in 2009.”

The loan-to-value ratios are settling in the 70 to 85 percent range, thus the UAE mortgage market is stabilizing according to the banking experts. Several leading local banks have now revealed that they are lending upto 90 percent of the original price. Moreover, this is being done on selected real estate projects direct from the developers. While upto 80 percent of financing is being done on market value of selected projects on the resale market. The interest rates for some of the banks currently range between 8.3% and 10.6% which depends upon the LTV and customer’s profile. This mortgage financing has already been offered in Dubai and Abu Dhabi. Moreover, as the market becomes more end user driven it will hold much potential to boost the emirate’s real estate sector.

Master Plan For Al Ain Bus Transport Is Launched in Abu Dhabi

A master plan for public bus transport in Al Ain has been announced by The Department of Transport in Abu Dhabi (DOT). This plan of public transport was a part of the long term program in order to decrease dependency on private vehicles which will in turn reduce road congestion and passenger facilities will get enhanced across the emirate. By the end of the year, 8 local bus routes in Al Ain will get operational. Furthermore, in 2010, 9 more routes are getting planned for launch, thus making it a total of 17 bus routes in Al Ain.

The General Manager, Public Bus Office, Abu Dhabi DOT, Saeed Al Hameli, said: “The Department of Transport is committed to developing a reliable, comfortable and integrated transport system for people across the emirate. One year on from the launch of our first buses, we continue to make improvements, with new routes, new facilities and increased service frequency.” By the end of the year 2009, there will be a total of 100 buses serving the Al Ain passengers. This number is expected to rise to 134 in 2010. In total by Q4 2011, 350 buses will be operational. New buses are designed for passengers including passengers with special needs.

The basic aim of the project is to integrate high quality and enhanced public transport and passenger facilities. A new bus station for Al Ain is already getting opened. The bus station features seating for 114 passengers, with an additional 24 seats in women’s waiting area. The new station in Al Ain offers up-to-date route and customer service along with timetable information. Hot and cold beverages are also available at the station.

Rent And prices In Dubai To Get Stabilize

In certain areas in Dubai, there are seen some early signs of recovery as the rent and prices are getting stabilized. This is first seen in Dubai property market as the areas started to see the recovery include Dubai Marina, Emirates Living and Downtown Burj Dubai. This is because that these property projects are of higher quality and is very much attractive especially for people commuting to Abu Dhabi. The communities like The Springs, Downtown Burj Dubai and Jumeirah Beach Residence have not been affected majorly by the decline in the rent as these communities have seen the most inquiries as far as the tenants are concerned.

The residential areas in New Dubai have been explored by people and are still exploring by those who are working in Abu Dhabi as New Dubai is in close proximity to the UAE capital. According to the last industry reports, house prices and rents have significantly relieved in Dubai. The tenants are mostly looking residential units in community developments and they are majorly looking for three to four bedroom townhouses and one to two bedroom apartments. Moreover, the apartment and villas are eased by an average of 15 and 13 percent. Apartment and villa prices have really dropped.

As the property prices have begun to stabilize, Palm Jumeirah has shown a surge in sales prices for apartments and villas to about 20 percent and 7 percent in the second quarter. The agents said that in the first quarter four bedroom garden homes on The Palm were selling for Dh6.5 million which was earlier selling for Dh14 million. Moreover, it got changed in the second quarter as the average rent for studios eased from Dh61,500 to Dh45,000. Thus, these statistics show that the prices have greatly reduced therefore; the prices and rents are being stabilized.

Deyaar to Hand Over The Citadel in August

The Citadel is a premium 41 storey commercial tower which is located in Business Bay master development. It is one of the first ever projects that is to be delivered in this development. Deyaar Development PJSC is a regional Dubai real estate company which is dedicated towards strong customer care. Deyaar announced that in August it will handover all Citadel units. The Citadel features 565000 square feet office space including 29000 square feet of retail. The property also includes 406 contemporary and state-of-art commercial units.

Markus Giebel, the Chief Executive of Deyaar said: “With the handover of The Citadel, Deyaar will have successfully fulfilled its handover commitments for 2009.” Deyaar has already set certain specific benchmarks of quality and value on all the projects being developed. The projects developed by Deyaar occupy a place within the master development. Moreover, this is one of the largest real estate developers in Business Bay. He further added: “We are confident that the design and quality of The Citadel will prove to be extremely beneficial to all businesses and commercial establishments operating from the tower.”

A proper orientation program will be hosted by Deyaar on July 18, 2009 for all the customers. This orientation program is basically to update the customers for the procedure of the final documentation for their respective units. The building operating budget and facilities management contract will get discussed in this orientation. Moreover, The Citadel is one of the high quality in line projects which is delivered by Deyaar. This real estate project is highly equipped with ample parking space and 24 hr security, thus making it an ideal development.

UAE Rents Set To Fall

According to the officials and experts, residential rents in Dubai and Abu Dhabi are set to fall this year. In Abu Dhabi real estate the rents are expected to drop by 10-15 percent by mid of the year 2009. Moreover, in 2010, it is even expected to fall further. As far as the fall in rents is concerned in Dubai, they are particularly steep in Nakheel’s Discovery Garden development. Chairman of the capital’s Chamber of Commerce and Industry, Salah Al Shamsi said that this reduction in rents was expected because of the new units that are set to appear in the market. He further added: “A number of residential units will be delivered by Abu Dhabi's top property development companies. They are due to deliver units in mid-2009 or by October at the latest.”

Truth Economic Consultants study showed that 37, 851 units are already available in Abu Dhbai property sector and in 2008-2009 around72, 285 units are more likely to join the race. Meanwhile, the experts say that Dubai rental would grow probably at a slower rate as it was earlier. The Chairman said that the property and rental in the emirate has not been affected by the global crisis. He said: “Prices have not fallen as in other emirates. The reason is the high demand for residential units in Abu Dhabi.”

Moreover, the Managing Director of Asteco Property Management said that in Abu Dhabi, Dubai and across other emirates too, rental properties are still in strong demand. Charles Neil, Chief Financial Officer, Landmark Properties said: “We expect rental prices to remain relatively stable in 2009, but they are likely to soften in the first and possibly second quarter.” Moreover, the rentals are expected to increase further in Dubai.

Office Rents In Dubai Are Recorded Second Highest In EMEA Region

A new report was found that the office rents in Dubai are found to be the second highest in the EMEA region behind London’s West End. It was found that the average office rent in Dubai property sector is EUR995 per square meter per annum. However, the rents are expected to fall as the supply in the real estate market in Dubai gets increased. The report showed that the office space in Dubai is just after West End which is EUR1019. The associate director of research for CBRE Middle East, Matthew Green said: “Despite the much publicized downturn in the Dubai market, prime office rental rates remain comparatively high and second only to London's West End.”

Furthermore, the report said that the average prime Dubai office rates fell by 18.2 percent. However, the fall has been lower than in European cities. CBRE said rents have already dropped across the board. It was particularly talked about the office buildings in Jumeirah Lake Towers and Tecom.

The report further added that occupiers in Abu Dhabi were taking their commitments to new Grade A because of the uncertain economic situation. The report also listed the next three strongest office markets in the region which include: Paris, St Petersburg and Moscow. The director of EMEA research, Richard Holberton said: “Landlords are finding it increasingly difficult to lease vacant space, given the understandable caution being expressed by most occupiers at present. With those occupiers requiring space driving a hard bargain, and increasing choice available in the market, it is inevitable that we will see further weakening in rents and an increase in leasing incentives in most markets over the coming months.”

Aqaar Gets Master Developer License For Ajman

Aqaar LLC, is a well known property and real estate development company in Ajman. Ajman Real Estate Regulatory Authority (ARRA) has issued the master developer’s license to this Ajman property developer. This new real estate development license will now allow Ajman to develop master communities. Moreover, Aqaar can now also provide integrated solutions and services to various other sub developers. As Aqaar has now turned as a master developer it will create, enhance and sustain the value of all projects that are to come in near future.

In addition to all this, Aqaar will now ensure that all real estate related and other operations will run with the best possible strength and capacity. Moreover, the key infrastructure developments will be carefully looked after and they should be in place within the community areas. These developments will greatly augment the emirate’s business, residential and tourism landscape. CEO of Aqaar, Rami Dabbas said: “Receiving a master developer license is a milestone achievement for Aqaar and will better position us to pioneer innovative community-living concepts for Ajman. Our new role as master developer challenges us to grow and expand the emirate’s dynamic real estate offering. Our new license will enable us to manage the fundamental operations of Ajman’s developments and create master-planned communities around the emirate that meet the homebuyers’ full spectrum of lifestyle needs. Aqaar brings extensive experience to the market and will be a solid asset to the community partners with our full line of management services and client focused solutions.”

Ajman One is Aqaar’s first project which is worth AED 2.7 billion. This project is 72,000 sq metre fully integrated complex that consists of business, residential and hotel facilities. Phase One of the project consists of twelve residential towers and there Escrow accounts have been opened at Abu Dhabi Commercial Bank (ADCB). It ensures full funding for the towers and it shows transparent framework for Aqaar being a registered developer.

Piling And Foundation Work Gets Completed At Marbella Bay In Ras Al Khaimah

A Qatar based real estate developer Manazil real estate has announced that the foundation and piling work for Marbella Bay in Ras Al Khaimah has been completed. Marbella Bay is a luxury resort development that is being made on Al Marjan Island and will soon be a part of Ras Al Khaimah real estate. Al Marjan Island itself is first of its kind man-made island in the emirate. The combined value of this property unit project is Dh400 million. RAKIA is the government body which is responsible for the socioeconomic growth of the emirates and its developments.

Manazil revealed that it has also coordinated with Ras Al Khaimah Investment Authority for the smooth development of this project. Safe development and on-time delivery of properties to the customers is very important for that matter. The CEO of Manazil Real Estate, Eng. Abdul Mohsen Al Hammadi said: “We have achieved great progress in the construction work of Marbella Bay as RAKIA has provided critical strategic support that has contributed significantly to the healthy pace of development. We are very optimistic of the excellent prospects of this project as Marbella Bay is poised to emerge as one of the most exciting island-inspired residential destinations in the region."

This Marbella property is designed to be one of the finest resorts in the UAE consisting of 430 commercial as well as residential units on 7 floors along with a ground floor. 2 floors of the development are dedicated for car parking. The resort comprises of luxury waterfront apartments and various leisure facilities within a well developed landscaped community. Moreover, the community is inspired by the architectural style of historic Spanish region of Andalusia. The total area of the project is around 500,000 sq ft. Out of this overall area only 60 percent of the project has been used for the development of buildings, rest the entire space is dedicated to lakes, swimming pools and communal parks thereby, making it an ideal luxury project.

Project Named After A Famous Tenor, Luciano Pavarotti Will Soon Be Added To Dubai Real Estate

A deal is signed with Nicoletta Mantovani, widow of Luciano Pavarotti a world famous tenor to build a real estate project The Pavarotti Tower in Dubai on the name of her husband. New World Investment, a registered real estate developer in Dubai along with an Italian Property firm Ellebiemme Immobili di Presitigio has collectively signed the deal. The project named The Pavarotti Tower will be a commercial as well as a residential building which will be built on Palm Jebel Ali. The construction of this residential as well as commercial project is expected to begin in the month of September.

A lawyer Thomas Paoletti, with Studio Paoletti which is a law firm representing Ellebiemme, based in Italy said: “The developers have no doubt that this project, the idea for which has been in the pipeline for some time, will be successful despite the current economic situation. One of the main reasons for developing this project was to highlight the image of Italy while focusing on a name which represents the country's standards of excellence." The project will feature a Pavarotti Gallery where the recordings of the tenor’s voice will be played in a museum which will be dedicated to his life.

Moreover, each floor of the tower will be dedicated to one of the operas performed by Luciano Pavarotti. Some of the operas include: Aida and Rigoletto. The interiors of the building will be designed by an Italian architect, Ettore Mocchetti reflecting the theme and story of each opera. This real estate project in Dubai will have its own restaurant run by a famous Italian chef and its own private beach.

World Class Group to Showcase Cyprus Real Estate Developments in Dubai and Lebanon

Investors from around the globe are finding great opportunities in investing in Cyprus. A new joint venture has come up by a Dubai based consultancy firm World Class Group. It has teamed up with a property portal centered in Cyprus, My Property Cyprus. They have created this advertising initiative in order to showcase country’s top real estate developments to various high net worth individuals throughout the Middle East. Cyprus Property Exhibition Center, CPEC is being created by Dubai firm as its marketing platform.

CPEC reduced the cost and provide seamless solution to the developers by developing a consortium concept by leading developers into what would have been a costly marketing experiment. It has been solved by creating advertisement partnerships. Property inspection trips to Cyprus will be promoted through this property exhibition center in order to view potential investment opportunities. This exhibition center will tour Dubai and Lebanon. It gets started from August 1, 2009 and an intensive tour of the region will be organized. These exhibitions will be held from mid August till September in one of the most exclusive hotels in Beirut for about one month. Potential investment opportunities are being viewed during 6 week campaign options for real estate developers to participate for full exhibition period or for 2 weeks as it is included in the available advertising options.

A new law has emerged allowing Non-Europeans to receive and purchase permanent residency visa for their family. Due to this, property investors in this region rediscover the opportunity presented by Cyprus as a golden gateway to Europe. According to the CEO of World Class Group, Michael J. Tolan, ‘Marketing strategies must evolve through similar cooperative initiatives like CPEC’.

Leading Dubai Property Developer Gives Contract Worth Dhs8.5 Million For Champions Tower IV

Al Jassmy Contracting Co. LLC has been awarded by a contract worth Dhs8.5 million, for the construction of a 20 story residential building in Dubai Sports City. One of the leading Dubai property developer, Memon Investments has awarded this prestigious project to Al Jassmy Contracting Co. LLC. Champions Tower IV in Dubai Sports City is worth 450 million. Located in the hotspot of Dubai Sports City and the Memon Investments’ reputation, this residential property has already gained popularity. Champions Tower IV hosts units ranging from two bedroom, one bedroom and studio. The residents can relish the 21st century opulent lifestyle with state-of-the-art facilities offered here. Canal, garden and golf course views are an added advantage of this property.

Rizwan Shaikhani said: "In line with this goal, we have made it part of our strategy to partner with credible and trustworthy industry leaders to lend us their expertise and help us achieve the targets we have set for our projects. For ‘Champions Tower IV' we have assembled a formidable team of engineers and project managers who will be working hand in hand to provide our customers the quality and convenience we have committed to them."

It has been committed the completion of the project is targeted for 22 months. Before giving the main contract, the developer has got into the deal with Stromek Emirates Foundation for undertaking excavation and shoring. This contract is worth Dh1.8 million. Also, ETA Menco would install high speed elevators.

Salwan will now Manage Executive Tower at Business Bay

Comprehensive property management services will be provided to the Executive Towers development at Business Bay. Dubai Properties has appointed Salwan for that matter as it will now be responsible for managing this 12 tower self contained Dubai real estate development for an area of 8.7 million sq ft. Executive Tower comprises of 10 residential towers, a Business Bay hotel and a freehold office tower. Dubai Properties has also mandated Salwan to extend the leasehold options for Executive Tower units. An amount of AED 15.38 per sq ft will be levied as service charge for maintaining the landscaped areas, indoor car parks and various infrastructure works within the development.

CEO of Salwan, Saeed Bushalat said: “As one of the leading property management companies, we are pleased to extend our offerings to Executive Towers. Our value added services are designed to exceed client expectations while ensuring the long term plans and sustainability of the development. We look forward to a fruitful relationship with the property owners and retailers at the development.” As the portfolio for properties around Dubai is growing Salwan currently owns and manages approximately 18,000 commercial as well as residential units at different Dubai locations.

An official spokesperson for Dubai Properties said: “In our committed endeavor to provide competitive services for offering a niche lifestyle experience, we have appointed Salwan Property Management to manage the Executive Towers that is quickly moving towards its handover phase. We believe Salwan has the expertise, the capabilities and the resources to provide premium services to the Executive Towers community and ensure the sustainable maintenance of the development.”

For Dubai properties, Executive Towers is the first project in Business Bay and following the successful release of Jumeirah Beach Residence a second major freehold project is to be handed over.

Rakeen to Commence Infrastructure Work on Al Marjan Island Property in RAK

Rakeen is one of the most dynamic property developers in Ras Al Khaimah which has instigated phase two of the infrastructure work on Al Marjan Island property. The phase two of the project will get started in August this year. Al Marjan is a man made island in Ras Al Khaimah. Rakeen further revealed that this phase two of the infrastructural work will be completed in 18 months, thereby, covering Island 3 and 4 of Al Marjan. The costing of the project will come out to be Dhs365 million.

The infrastructure work of phase two will include various facilities for drainage, telecommunications, channel crossings, landscaping, electricity, street lightning and fire fighting installations as well. The Infrastructure Manager of Rakeen, Dr.Fawzi Shadid said: “It is our top priority to fast-track the completion of infrastructure work as various projects that are being built on Al Marjan are dependant on the infrastructure facilities. With Phase One of the infrastructure work progressing well on schedule, we are now fully prepared to commence work on the second phase after we identified the Contractor for the job.”

The Director of Development of Rakeen, Herbert Krause said: “This project means a lot to everyone at Rakeen and in Ras Al Khaimah, as it is pioneering in so many ways: building technology, environment and marine ecology, tourism and hospitality, residential exclusivity, leisure and sports facilities, and also because it enhances the skyline and the international image of the emirate.” This pioneering development project extends the coastline of the emirate by an additional 21 kilometers. This master development is expected to be completed in June 2010 at the cost of Dhs366 million.

Design of Homes in Samarah Sea Resort Property gets completed

The second phase of the design of The Apartments in Samarah Sea Resort, a residential community has been completed by Emaar International Jordan, country subsidiary of well known Dubai real estate developer Emaar properties. The construction of the development is set to instigate shortly. The progress of this real estate project highlights the dynamics of the property sector of the Dead Sea region and Samarah’s great contribution to the local economy.

This project will be acknowledged for its higher and better property development standards. Moreover, these standards have been brought in by Emaar properties. Emaar properties are a reputed property developer which has a track record in developing internationally acclaimed projects around the globe. This real estate project that is being developed comprises of a cluster of 8 low-rise buildings. It forms an integral part of the Rift Living homes. Samarah Dead Sea Resort is a mixed use project incorporating the best modern amenities including beach clubs, hotels, retail units and various other leisure facilities.

The Rift Living homes are directly located on the Dead Sea. These homes are adjacently located to the waterway and across Wadi Mukheiris from the King Hussein Bin Talal Convention Centre and the sales center. The project work is currently progressing as per its schedule. GM, Emaar International Jordan, Radzi Zakaria said: “Samarah Dead Sea Resort is an unparalleled development in the Dead Sea region as it integrates the world-class design and development competencies of Emaar Properties. As a resort-themed project, Samarah is billed to energize the tourism and property sector growth of the Dead Sea region. This perfectly fits with the Government's plans to boost the region through focused investments.”

Steady Shift Shown by Dubai Properties

A Dubai based property consultant, Sherwoods Independent Property Consultants, has announced that Dubai real estate market has entered a new phase which is showing the signboard of recovery. It has been announced that a steady shift has been seen in Dubai property prices thereby, prices are moving towards a more reasonable level. Moreover, in starting of the 4^th quarter of the year 2009, more concrete growth signs in terms of real estate investments and property prices are expected to be seen. It has been predicted that the coming year 2010, will be a year for stabilization and a specific new direction for the real estate sector.

Sherwoods credited the most important players of the industry for quickly adjusting to the changes in the market environment. The MD, Sherwoods Independent Property Consultants, Iseeb Rehman said: “I would say that the prices have been corrected to reasonable levels, which has created more value offerings to buyers and investors. The positive signs we are seeing should result in more tangible proof of growth around the 4^th quarter of 2009, during which property prices will further stabilize and we can also expect a marked increase in property investment.”

In 2010, Dubai will get transformed into a stable market as far as property investments are concerned. The available property prices today, are the best for long term investments and the investor is expected to make good profits out of it. At this point in time, investors those who want to invest in property sector for short term are not advisable to do so. Sherwoods acknowledged the remarkable performance of the property sector in a situation of global economic downturn and Dubai’s decision to enhance the infrastructure in the emirate.