Ajman Real Estate Regulatory Agency Approves 172 Tower Developments

A list of 172 approved towers has been published on the website. Ajman has approved the planning of this construction, less than a quarter of the total number originally planned in the emirate. This list of 172 towers has been published by The Ajman Real Estate Regulatory Agency (ARRA). Omar al Barguthi, the director general of ARRA said: “Some of the registration applications have been rejected but many other projects are still under process and may join the list, or not. Some are registered but still have no escrow account because of banking requirements.” Last autum, prices began to fall drastically thus, the property developers have been forced either to delay or to cancel the scores of residential developments.

The ARRA has published the list of approved projects for the first time since they have implemented new regulations for the developers. It requires registration and an escrow account for investor funds that will be exclusively used for the construction costs. If we look in totality, 122 projects of 24 developers are on the list representing 1500 villas, 109 land plots and about 172 towers. There are many older projects within the city of Ajman which have been approved, however, only few buildings are nominated for land alongside Emirates Road have been accepted. Some of the projects which are included: Ajman Uptown, Escape, Park View, Boulevard, Emirate Lakes Towers and some buildings within the Emirates city.

Mr al Barguthi further said: “We will declare those projects as cancelled from ARRA’s standards and legal perspective, and we will let the people responsible for it deal with their investors.” Those developers who have registered and opened an escrow account are now permitted for further payments from the property buyers. Apart from this, the real estate developments that have not been included in the list includes: Humaid city, Al Helio Downtown and Al Zorah whereas according to the ARRA officials, Awali, Marmooka city and Aqua city are still under the process of registration.

Middle East’s Largest Security And Safety Event To Be Held In January 2010

Despite of the economic downturn and drop in oil prices and liquidity, Middle East still holds the highest position for expenditures on defense and security, worldwide. According to some recent reports in the year 2009, UAE, Iraq and Saudi Arabia retain their buying strength and these three countries are expected to spend an amount of $60bn (Dhs220.50bn) on defence. Saudi Arabia is the largest spender in the Middle East and the expenditure is expected to rise by 2013. For 2009, UAE will account for Dhs25.73bn for defence and security features.

There are various region concerns due to which there is a need for spending on defence. Moreover, there is a growing need to safeguard the borders and built disaster resilience. Not only this, but it has become extremely important that Gulf Cooperation Council should protect and secure sensitive businesses including, oil and gas, banking and financial institutions, process industries and chemicals. Other than this, safety and security is required in order to protect their public and commercial assets also. MD of Epoc Messe Frankfurt GmbH Elisabeth Brehl, the organizers of the Intersec Trade Fair and Conference, said: “The world's escalating surveillance on all facets of security, whether it's related to terrorism, identity frauds or IT threats, has impelled a rise of interest from authorities and end users. Scheduled to open from January 17-19, 2010 at the Dubai International Convention and Exhibition Centre, Intersec trade fair and conference is gearing up to showcase the largest congregation of industry leaders and specialist suppliers ever seen in the Gulf region."

In 2010, it will be the 12^th edition of Intersec trade fair and conference seems to be the largest, as 710 exhibitors are participating from 50 countries and around 17,200 trade visitors from 96 countries.

Damac Properties Issues Tenders for Eight Projects

Damac properties are a globally renowned freehold real estate company in Dubai. It has been established in 1982 and today, is the leading Dubai property company. Moreover, Dubai based Damac Holding is one of the largest privately owned developers in the Middle East. It’s a luxury lifestyle provider which has announced the issuance of eight tenders in the month of August. The total worth of these projects is Dhs2bn. There is a complete list of projects for which the tenders are being issued which includes: Capital Bay, The Corner, Burjside Boulevard, Executive Bay, Park Central, Al Jawhara, Amber Residence and Lake Side. Apart from this, enabling tenders for Harbour Heights, Water’s Edge and Commercial Square have been issued.

The company has been criticized for non completion of some of the projects due to missing completion dates and deadlines. The General Manager of Operations of Damac Properties, Mr. Ziad El Chaar said: “The first half of the year we have made significant progress. We delivered over 2,300 units and we will continue to be aggressive on delivery. Continuing with the momentum of the year, in July we have issued 8 new tenders. In the next two years our aim is to have delivered a total of 25 towers totaling to 7,100 units.”

Damac properties have announced that earlier this year, three of the projects will get completed including The Crescent projects, Executive Heights and Lake View. Moreover, there is a notable progress going on various other projects. A floor is being built in every 5.2 days at the Ocean Heights tower in Dubai Marina which is now at the 71st floor. Floors are also being constructed at Park towers at DIFC. At Damac the years 2008 and 2009 have been busy years. A lot of hard work is involved by its team and other contractors involved within the projects thus, the year 2009 is heading towards the ‘Year of Delivery’.

Omniyat Properties Awards Main Construction Contract of Gemini Tower

The Gemini is a freehold commercial tower which is located in Business Bay in Dubai which is a prime water front location. Omniyat properties are the most innovative private property development companies. The company has been awarded with the construction contract in order to build The Gemini Tower to (CSCEC) China State Construction Engineering Corporation. The two distinct 20 storey towers is linked by a 15 storey block offers high grade office space in the UAE’s global commercial and business center. The tower is an impressive sculpture of granite blocks undercut with white glass and aluminum.

The Chairman and CEO of Omniyat properties, Mehdi Amjad said: “Having recently celebrated the handover of our two premium developments, Bayswater and The Square, we are delighted to move forward with yet another milestone and partner with CSCEC for the main construction of the Gemini.” It has been designed and planned by a local German joint venture named ARCIF. This Dubai property offers spectacular waterfront views of the Business Bay in Dubai. This 15 storey block incorporates freehold office spaces, serviced offices, car services and several dining restaurants. You can reach here using any mode of transport such as water-taxi, Dubai metro etc.

The interiors of the tower are fantastic raging from black and white lobby to bustling public areas. Superior materials have been used in its construction and an efficient planning has been done. The well planned design has ensured that international standards are being implemented in order to create a comfortable and an efficient environment. The Managing Director of CSCEC, Yu Tao said: “We are extremely pleased to be partnering with Omniyat for The Gemini development. We will endeavour to maintain Omniyat's vision and work towards the construction of a landmark project that sets the benchmark for quality in the region's real estate industry.”

Dubai Holding To Merge 4 Of Its Leading Property Entities

Dubai Holding is one of the well known and leading Dubai real estate development and investment firm issued a statement, that it will merge four of its leading property entities which includes: Bawadi, Dubai Properties, Sama Dubai and Remraam and the Tiger Woods golf course. These property entities are being merged in order to form one large property entity in the Middle East.

After combining these four, it will become one major property entity. This merger moves ahead of a planned merger between Dubai Holding’s property subsidiaries – Sama Dubai, Tatweer, Emaar properties and Dubai properties later this year. Dubai Holding also stated that it would also merge the back office operations in order to cut costs.

The merger between the two of these leading master developers is to be done by October as per the government’s plan. The merger of the two Dubai Holding’s three entities and Emaar’s merger would create a company worth an asset base of Dh194 billion and a debt of Dh13.4 billion. A rough idea of 7 percent of the total assets will be given. Moreover, they both are committed to finalize their merger somewhere around October. Merrill Lynch and RBS which were retained as the financial advisers for Emaar and Dubai Holding respectively are advising the two as far as the merger is concerned, as due diligence continues. Both Dubai properties and Sama Dubai together possess one of the largest land banks within the North Africa and Middle East region covering a geographical stretch from UAE to Morocco.

Sega Republic Indoor Theme Park Opens At The Dubai Mall

Sega Republic indoor theme park is the newest attraction which has been developed by Emaar Retail in association with Japan based Sega Corporation. It is a 76,000 sq ft indoor theme park that has opened on Friday at the largest entertainment and shopping destination in the world. This is the newest leisure attraction in the mall. Sega Corporation is well known for world renowned video games and is currently one of the comprehensive leaders in high-tech entertainment industry. The theme park is designed to meet the expectations of the adventure lovers. Visitors can look forward for over 150 amusement games. The amusement games are being designed in order to meet the expectations of the youth.

The Chief Executive Officer, Mr. Arif Amiri, Emaar Retail said: “The much anticipated launch of the Sega Republic indoor theme park marks yet another milestone for Emaar Retail. Sega Republic is the first of its kind in the Middle East and it delivers an unmatched, distinctive leisure experience for all visitors. The theme park complements the myriad of other leisure attractions within the mall and provides quality entertainment for all visitors.” Sega Republic ensures that visitors will enjoy the thrill with nine adrenaline – pumping attractions such as Sonic Hopper, Storm-G, Spin Gear, Halfpipe Canyon and a lot more.

Moreover, there are various other attractions which are spread over five themed zones including sports, cyberpop, redemption, speed and adventure. The theme park is incorporated with all action packed fun. There are motion-simulators, classical carnival games, prize – winning redemption games and various other selections of prize winning games. Moreover, the theme park is combined with latest and leisure technologies providing a cutting edge interactive entertainment. The visitors will get a virtual experience with a light-hearted fun. The theme park operates the same hours as the mall with convenient parking. Thus, now to get adventure filled fun and excitement, you have a great place to visit.

Reef Real Estate Launches R Serviced Offices

Reef Real Estate Investment is a Dubai based real estate developer. According to the analysts the serviced offices were in great demand. This developer adapted to the downturn quickly, and has launched its first R-serviced offices at Al Reef Tower which is in Jumeirah Lake Towers. These R-serviced offices have been set up in Dubai’s Multi commodities free zone. The demand for these serviced offices comes from various young local companies. The reef real estate developer has slashed its monthly rental offers from Dh15, 000 to Dh9, 000. Dh15, 000 was the average industry rates prior to the crisis for serviced offices.

The Dubai property market will begin to stabilize before the end of this year, which has been stated according to the reef real estate investment. The Chairman, Ahmed Mohammed Zaed Saqer Al Nahyan, said: “Prices in both the residential and office segments have gone back to their levels 5 years ago, but that is not necessarily bad because it is making Dubai more competitive. The property market is going through a down cycle right now.  It has absorbed the changes, but recovery will happen as landowners and developers are now less willing to offer distressed prices.”

Nahyan further said that despite of the economy recovers; the property prices will remain flat for 2 to 3 years. According to him, the demand will take some time to catch up with the speed. As everyone knows that this global downturn has greatly affected UAE’s flourishing property sector, especially in Dubai. Here the property prices have drastically fallen from their peak levels in late 2008. The prices are still falling, but at a lower pace as compared to the past. Moreover, these R serviced offices are the ideal options for companies today, as all look to reduce costs. With these offices, the companies can avoid excessive upfront expenses involved in opening a new office.

More 5 Star Hotels in Dubai To Open This Year

Emaar hospitality group which is the five star premium hotel brand is further strengthening its presence. There are two new hospitality destinations that are being started. It includes the Address Hotels along with resorts. Two major five star projects are expected to open later this year which are The Address Dubai Mall and The Address Dubai Marina. These will be the part of vibrant lifestyle communities. These hotels specialize in providing ideal and comfortable locations for dining, social activities and from business point of view. Moreover, the guests will be offered various options for leisure, sightseeing and shopping of course.

The Address Dubai Mall will feature a total of 449 serviced apartments along with 244 signature rooms. Another project The Address Dubai Marina will have 200 guestrooms which include 442 serviced apartments, 28 immaculate suites and last but not the least around 200 guestrooms. Both these five star projects will be encapsulated with a wide range of modern and luxury amenities. The Address Dubai Marina is centrally located within Downtown Burj Dubai and will be directly linked to The Dubai Mall, which is the largest shopping destination. Furthermore, the Address Dubai Marina is connected to Dubai Marina Mall. It ideally stands in the heart of Marina district. It is being surrounded by high class restaurants, late night lounges and shops.

The Chief Executive Officer, Mr Marc Dardenne of Emaar Hospitality Group, said: “The Address Hotels + Resorts has established a clear niche in the hospitality sector through our distinct brand philosophy of "Where life happens" ensuring each property is an ideal destination for socializing, doing business and relaxing. We follow a ‘one size fits one' approach where each guest's needs and desires are considered to ensure they have a memorable visit with us. In adding two new hotels to our portfolio in Dubai this year, we will further build on delivering this brand strategy.”

Plans To Support Consumers During Ramadan By Ministry of Economy

Great care is being taken by the Ministry of Economy in order to protect the interests of consumers during the Holy month of Ramadan. The Ministry of Economy has announced a full fledged plan for that matter. The Director General of Ministry of Economy Mohammed Ahmed Bin Abdul Aziz Al Shihhi has said that these plans which we have made are in line with the directions of His Excellency Sultan Bin Saeed Al Mansouri. Moreover, this is to ensure that the consumers do not get affected by any of the market price manipulations.

Mr. Al Shihhi said: “We have agreed with all concerned parties to join hands to avoid any manipulation of prices, and we have already established censorship team works in cooperation with the Ministry's offices in each emirate to closely monitor the sale of meat, vegetables, fish and chicken at all major retail outlets. We will also coordinate awareness campaigns before and during Ramadan to inform consumers on the availability of commodities. The ministry will distribute leaflets and brochures in coordination with the local departments that will guide consumers on the right behavior and avoid any manipulation attempts.”

This new plan majorly focuses on five important areas which include suppliers, advertising campaign, retail outlets, field visits and government departments. He further said that in each Emirate there are local departments with whom Ministry has already met representatives including cambers of commerce and economic departments, Emirates Coop, municipalities and Emirates Community for Consumer protection. The already chalked out plan includes price manipulation during Ramadan or warning suppliers against monopoly carry outs. The Ministry is coordinating with Awqaf Authority and Islamic affairs against hoarding goods. Further plans are setting interviews on broadcast media which highlights the Ramadan preparations. Moreover, the Ministry has assured the community supplying continuous and regular important goods in the markets.

Media One Hotel in Dubai Set For October Opening

Media One hotel is located in the Media City district of Dubai, which will set its door open in October this year. This property in Dubai is particularly for those who are seeking comfort and style. This is one mixed use real estate development which comprises of hotel and offices located in Dubai Media City. This newly developed hotel promises the guests with a truly refreshing experience. It has been designed keeping in mind the savvy business travelers. Moreover, it aims to be the ultimate accommodation for professionals. The hotel occupies first 23 floors of this 43 storey tower and 260 guest rooms will be offered. Varieties of bars, cafes, gym and restaurants are available.

The hotel is fully equipped with meeting rooms, business centers and the remaining 20 floors of the tower will be devoted to offices. The GM, Media One Hotel, Cora De Conceicao-Stuart, said: “We are all incredibly excited about our imminent opening. The whole team is driven by a tremendous amount of energy and passion, and the speed with which preparations are coming along is truly remarkable. It is also important for us to recognize and thank the authorities for their unwavering support and encouragement, most notably the Dubai Municipality, Dubai Police, DTCM and TECOM.”

The hotel property is ideally positioned in the bustling corporate head quarters. This is an upscale 4-star property offering a blend of innovative design and modern architecture. Apart from luxury hotel rooms, meeting and business venues, there are selection of spacious lobbies, ample parking space and retail outlets. A lounge-style terrace bar is being constructed in order to complement the location and the lifestyle of the clientele of the hotel. Other than this there are stylish chill out cafes in the hotel.

Mortgages Offered For Green Emirates Properties by Abu Dhabi Finance

Abu Dhabi Finance is Abu Dhabi’s leading finance provider which has started offer mortgages for Green Emirates Properties, which will reach its extension to cover almost 75 percent of Abu Dhabi property market. This finance provider is already offering end-user finance on Sea Shore villas which was handed by Green Emirates properties back in the year 2007. It consists of 236 villas and townhouses. There were some initial developments which were covered by the agreement which includes Ocean Terrace in Marina Square, Marina Blue on Al Reem Island.

The CEO of Abu Dhabi Finance, Philip Ward said: “We continue to extend our reach in Abu Dhabi and we are delighted to announce our partnership with Green Emirates. Their developments will appeal to long-term investors and owner-occupiers from a diverse mix of income brackets, and we will be happy to provide flexible mortgages to suit every need. Partnering with a reputable developer of high quality properties such as Green Emirates allow us to offer our clients an even greater range of choice for every budget and taste.”

There are certain highlights of the mortgages being given for the Green Emirates. It includes a maximum tenure of 30 years with an upper limit of 70 at loan maturity, a debt service ratio of 55 percent and finance for up to 85 percent of the value of the property. Apart from this, it also offers various repayment options which are quiet flexible in the industry which includes a combination of Interest-Only Mortgage Loans, Interest Roll Up, Repayment and Interest Only. As far as the repayment options are concerned, the clients can repay up to 10 percent of the outstanding loan amount per year which is free of repayment charges.

A Real Estate Keynote Presentation To be Delivered At Cityscape Dubai

A keynote presentation has been prepared which will soon be delivered by a world famous real estate expert Donald Trump Junior. A wide range of real estate related issues will be addressed including predictions for the existing market opportunities and for recovery of the property sector. This presentation will take place at Cityscape Dubai 2009 and is scheduled for October 5-8, 2009. Donald Trump Junior is the son of the famous real estate developer Donald Trump. He says that for the world to full recover, it’s important for United States to come out of it. He says that the real estate prices will get lower down before 2010.

The main Cityscape event in Dubai is the World Architectural Congress and it also invites some of the world’s well known visionaries and architects. They will share their experience and thoughts and will reveal an outlook on architecture in the period of this global recession. The Executive, VP of Trump Organization, Trump said: “Due to the persistent buy-sell gap, the unwillingness of banks to foreclose and the complexity of workouts - I would say that it will be sometime in 2010 before we get the sense that we have bottomed out.”

Cityscape Dubai also organizes Cityscape Dubai Facilities and Asset Management Conference starting from October 4-8. This huge conference attract delegates from the field of build, design and post-occupancy of buildings. Moreover, on October 7, there will be a Cityscape “Green Day”. The importance of this day is that it includes discussions on financing green buildings, green construction methods, regulations, energy saving issues, facilities management, new materials and products and last but not the least green communities.

Al Fara’a Affirms Steady Construction Progress Across Its Development

Despite of the present Dubai property market scenario, Al Fara’a Properties, a member of Al Fara’a Construction Property and Industrial Group has confirmed the steady growth of their projects because of which delivery of several other projects in the UAE got delayed. This construction group has a solid track record of three decades now. The developer of the projects announced that the track hits the delivery targets for Mulberry Mansions and The Manhattan. These both are scheduled for the last quarter of the year. This announcement indicates that the developer is committed to deliver the projects in the stipulated time in order to safeguard the interests of the investors and customers.

The Manhattan will offer 355 units featuring one to three bedroom apartments and selection from wide varieties of studios. Murberry Mansions is the leading third project unit being developed within Jumeirah Village comprises of Victorian-style townhouses, terrace, private garage along with maid’s room with a separate access. In addition, the residents enjoy the benefits of top class educational and medical facilities along with movie theaters, shopping malls, parks and beaches. The Director of Al Fara’a properties, Natasha Gangaramani commented on the progress: “Construction on ‘The Manhattan’ is on schedule, with the ground floor slab already constructed in its entirety, including the ramps leading to the three basements. We believe that swift, efficient and timely handover of projects holds as much importance to investor as the value of investment driven by construction quality and facilities offered.”

Gangaramani further added: “Backed by the three decade strong solid track record of the Al Fara’a Group as well as the flexibility to meet our primary goal of excellence, we have recently launched our facilities management division, which will enable us to ensure that all our on-going projects will be built according to global best practices.”

Aloft Hotel Will Be The Second Largest in Abu Dhabi

Abu Dhabi National Exhibitions Company (ADNEC) is an international venue management and development company. The company has announced that Aloft Hotel is the first on-site hotel and is the second largest hotel property in Abu Dhabi. The hotel comprises of 408 additional hotel rooms, which makes it the second largest hotel. This newly constructed hotel will be operated by Starwood Hotels and Resorts. It will bring in a new lifestyle concept and it is directly linked to the ADNEC which is next to the Capital Centre District. Excessive focus is being given to the quality, comfort, accessible technology and convenience.

This hotel property is closely located from downtown Abu Dhabi. It is just 15 minutes away from the Abu Dhabi International Airport. The CEO, ADNEC Group, Simon Horgan said: “For an exhibition development to be successful, it must have accommodation on site which suits all aspects of its audience from luxury to value. The high demand and relatively low supply of hotel accommodation in Abu Dhabi is a concern for our international exhibitors and visitors and so I am delighted that the first hotel to open at ADNEC will be the city’s second largest and one of its most competitively priced.”

The General Manager of Aloft Hotel, Stephan Vanden Auweele further added: “Aloft is the world’s fastest growing hotel brand. It has re-invented the industry by ignoring certain aspects of hotels which have become clichéd and old fashioned in the minds of our target audience. For example, free wireless internet is very important to our customers, but room service and silver service tea lobbies are not. We provide what our customers want and don’t concern ourselves with things that they don’t, this approach reduces our costs and allows us to provide the customer with a lower price per room.”

Sharjah Sees A Growth In Hotel Properties

Sharjah’s performance in the tourism sector has been evaluated for the first half of the year 2009 by Sharjah Commerce and Tourism Development Authority (SCTDA). The statistics have been calculated and according to that there were 671,662 guests in the emirate’s hotel apartment properties and hotels. The overall occupancy of these hotels was calculated as 64 percent. Moreover, the total hotel apartments and hotels in Sharjah were up 7 percent to 109. If we compare this figure with 2008, the figure was 102 during the same period.

The number of available rooms got increased by the increase in the number of hotel apartment properties and hotels to 8,523. It has increased by 14 percent as in the corresponding period in 2008, the rooms recorded were 7,486. The number of hotel apartments has been increased by from 3,573 to 4,248 and the number of hotel rooms has been increased from 3,913 to 4,275. A complete data has been collected in the form of figures which shows that in the first half of 2009, around 359,151 guests stayed in hotels and around 312,511 stayed in hotel apartments.

Moreover, the total number of rooms which were occupied for first half of 2009 was 728,475. There is a complete tourist statistics as well according to their nationalities. As per the statistics of all tourists visiting the emirate of Sharjah, European tourists accounted for 32 percent of all tourists. Tourists from other Arab countries accounted for 14 percent; similarly there were other GCC tourists which contributed around 28 percent. Of total visitors, 20 percent of them were Asians, while the remaining 6 percent of the calculation were being filled by Australian, Canadian, African and other Pacific tourists.

Increase In Demand For Property Management Professionals In Middle East

As per a leading recruitment consultancy Macdonald & Company in the year 2009 the demand for property management professionals within the regional real estate sector is expected to rise. This is the leading firm in the domain which focuses completely on the property industry. This year’s property sector study is especially designed in order to give a transparent view of the current market scenario for jobs within the Middle Estate real estate sector and the talent redistribution observed across the region. The focus will be on correction of salaries and packages in the past 12 months. The company has announced that they will be launching Rewards, Attitudes and Salary at the forthcoming Cityscape Dubai 2009.

It is said that in future the residential developments will be geared more towards the end user. There are current projects going on with many developers in the UAE and the developments are now on the verge of completion. Moreover, the developers are now looking for special skills-sets which will help them in managing their completed buildings in a cost-effective manner. There are various specialized departments including property management, facilities and asset which are likely to get expanded. Furthermore, as the market becomes more competitive, the office agency and leasing teams will be more in demand.

The International Director, Matthew Taylor, Macdonald & Company said: “As the Middle East real estate market continues to evolve at an astonishing pace, our main objective is to give both employers and employees an indication of where things stand now. The fact that salaries have seen an average increase of 12% last year and 14.2% in 2007 - is directly related to the exponential growth witnessed in the region’s real estate sector over the last few years. Therefore, due to the global economic situation and the correction in property market, it is fair to say that we are likely to see a decrease in average salaries this year.”

Schon Properties Instigates Construction Within The Final Phase of Dubai Lagoon

Dubai Lagoon is a large scale community which is being under construction. The project worth 3 Billion Dirhams, and is now in its final phase of development. Schon properties are the developer of the project. This entire community marks the major progress for the project. For the acceleration and delivery, the developer has recently appointed independent contractors. Belhasa Contracting and Engineering Company (BHECC) and Bin Sabt Building Contracting Company are the two preferred contractors for the project of Dubai Lagoon. These two are currently engaged in developing 3786 units along with various associated facilities within the project.

The final phase of Dubai Lagoon project is being constructed by Bin Sabt Building Contracting Company. This phase comprises of 98 serviced apartments, 37 retail units and 392 residential units as well. 494727 sq ft of area is being covered upon completion of the project. The Executive Director, Khizer H. Schön of Schon properties said: “We are thoroughly delighted with the commencement of enabling works in the final phase of the project and the fact that all 3,688 units in Dubai Lagoon are now under construction. I would like to thank our contractors for sharing our diligence and commitment towards our customers and would like to commend them for their outstanding performance and management that has allowed ahead of schedule progress in many parts of the development”.

The Bin Sabt Building Contracting Company has further appointed a sub contractor Solanki Construction Company LLC. The work has been started and is expected to get completed within 90 days. This Dubai real estate project offers the most affordable residential offerings and they fulfill their commitments to the investors within the best possible time and up to the highest quality. After the project gets completed, it will be one of the most fully integrated residential developments.

National Projects & Construction Expands Real Estate Project Portfolio

The National Projects & construction is one of the leading construction and real estate companies in Abu Dhabi. The company has recently moved its headquarters to Musaffah which is a part of its corporate expansion plans. In the year 2008, the company was in the league of one of the leading construction companies in Abu Dhabi. As far as Abu Dhabi real estate is concerned, NPC was a part of the growth and expansion of the real estate sector thus, the company also entered into expertise sharing partnerships and strategy for growth along with other international companies which are the leaders in handling various mega projects.

The National projects & construction company is currently employed on various real estate projects which are worth Dh4.5 Billion. Apart from this, they have won major prestigious construction contracts from some well known property developers. The Chairman, NPC, Salem Al Neyadi said: “NPC has come a long way since its inception in 2003 and over the years has graduated from handling small scale projects to some of the most iconic projects in Abu Dhabi. The opening of the new headquarters represents an important milestone in the growth and evolution of the company and comes at a time of robust growth for us.”

As far as the real estate developers from which NPC has got construction contracts are: Reem Investments, Royal Group and International Capital Trading, Reem properties, Hydra properties, Tamouh, Al Qudra and Sorouh real estate companies. There are some iconic Abu Dhabi developments which are under NPC’s project portfolio which includes Marina Square, The Nation Towers, Danet Abu Dhabi and Danet Holiday Inn Hotel which was recently handed over to the company.

First Casper Theme Park In Dubai

A new Casper Theme Park will be opened soon at Dubai Festival Centre in Dubai. This is the first Casper theme park in the Middle East which is expected to begin shortly. This theme park promises an unmatched entertainment and retail experiences. This unique entertainment park covers an area of about 6340 sq m. It is about to get launched in collaboration with a Future Kid Entertainment and Real Estate Company based in Kuwait. Casper is already a brand which is a cartoon ghost worth around Dh3.67 billion. Casper is a loving ghost who believes in making friends instead of scaring them. It creates a 60 years of global heritage.

The theme park will be a part of Dubai property sector and it features a lot of excitement and entertainment for kids and people of all age groups. There are various interactive games, bumper cars, drop tower, crazy rafts and a rollercoaster which creates a fun filled environment. The Director-Retail Leasing, Al Futtaim Group, Philip Evans said: “Festival Centre has always been recognized as a leading entertainment destination and this success, along with a few other exciting concepts, we plan to announce shortly, reinforces our belief that Festival Centre is the number one retail and leisure destination in Dubai.”

The theme park is one of its kinds in the Middle East and it boasts of the biggest monorail. Other than small rides, variety of latest rides and games will be offered here. The entertainment centre also has a gift shop featuring wide range of casper toys and souvenirs and a cafeteria. The Chairperson and Managing Director of Future Kid, Rasha Khalid Al Ghunaim said: “This is our first of many projects in Dubai and we are extremely satisfied with our collaboration with Al-Futtaim Group Real Estate. Casper Theme Park at Dubai Festival City will reinvent entertainment in the region. We have maintained the high level of quality and sophistication Festival Centre is so popular for and are confident of establishing a unique and engaging entertainment centre which will bring one of the most famous children’s character closer to home.”