Several Dubailand Projects were Handed Over to the Investors in 2009

Dubailand, Dubai’s iconic entertainment and leisure destination and a member of Dubai Properties, handed over several of its projects to its investors in 2009. As per Dubailand, for several projects, commercial, retail and residential units were handed over to its investors. This took place in Al Barari Villas, The Villa, Dubai Properties Group's Leyan and Motor City. In addition, 320 villas were handed over in Victory Heights in Dubai Sports City, Dubailand. Further, 1300 commercial, retail and residential units were handed over in Motor City.

Mohammed Al Habbai, CEO, Dubailand, said: "In spite of the challenging global economic environment, it was an exciting year for Dubailand with a number of important milestones for our investors.

"Our approach has always been to drive local, regional and international visitors to Dubailand

attractions. This year, we have focused on developing inherent demand from within the UAE by building critical residential mass. Dubailand now has exclusive pockets of residential communities such as the Arabian Ranches, Motor City, Leyan Community, The Villa and Al Barari, making the destination an attractive place to live, work and play."

Dubai Properties Group revealed the ready-to-lease residential units like apartments and villas at the Leyan Communities (Mediterranean-themed) located right in the heart of Dubailand.

Dubailand’s development was unveiled by two key highlights. Out of which one was the opening of Dubai Sports City's Butch Harmon School of Golf at The Els Club and he agreement with Royal Caribbean International. The other highlight was the launch of Dubai International Cricket stadium with 25000 seats.

With several such Dubai attractions within the Dubailand is expected a flow of tourists over the 8 million mark it this holiday destination already has.

Dubai Lifestyle City is Expected to Open Its Doors By the End of 2011 or Q1 of 2012

As per the ETA Star Group, the network of infrastructures of Dubai Lifestyle City has been completed presently which includes roads, water drainage systems, irrigation facilities, telecommunication networks, sewage system, street lighting, portable water system and fire-extinguishing system.

The project raised its curtains in 2006 thereby promoting an exclusive concept of haute living of which luxury, digital facilities, recreational opportunities, sports, fashion, world-class restaurants, theatre and shopping are the part of.

The venture is to feature 68 villas with Tuscan theme and 120 apartments. Approximately 60% of the property has been sold till date. Construction of the units has already been initiated by Saleh Constructions.

DLC has also aligned with Microsoft, JW Marriot, Cisco and IMG Academics.

Mohammad Al Habbai, the senior Vice President of Dubailand said, “DLC offers luxury within a gated community and that its renowned world-class brands such as JW Marriott hotel further strengthens its position as a luxury development.”

JW Marriott is to develop the first branded JW Marriott for the residential purpose in the entire world. Apart from JW Marriott, the community in Dubai will run three distinctive accommodation amenities to meet the requirements of the visitors of the city.

The visitors will be delighted to watch the JW Marriott Hotel with 170 rooms, Marriott Executive Apartments comprising of 46 units in all and a Courtyard with 156 rooms.

The construction of the project was formerly started on 1^st December. The multi sport corporation called IMG Academics is also to open its first ever branch outside United States including Tennis Academy by Nick Bollettieri and Golf Academy by David Leadbetter.

Seddigi also said, “Dubai has always remained an attractive destination for tourists and residents alike, offering wonderful packages to visitors and lucrative opportunities for investors”

Dubai Lifestyle to Hit 80 Percent Occupancy At Marriot Hotel Properties

The three Marriot hotels being built at Dubai Lifestyle City which includes 5 star JW Marriot featuring 170 rooms, a Marriot courtyard with 150 rooms and 46 Marriot Executive apartments. These Marriot hotels are all set to hit around 80 percent occupancy when they open. Arif Rahman, the managing director, told Gulf News that: “We have a healthy RevPAR (revenue per available room) and we expect between 70 to 80 per cent occupancy.” There are various other Dubai real estate projects going on in Dubailand, which have been delayed, however, the Dubai Lifestyle City is progressing at a fast pace, due to the manageable size of the project.

The resources have said that since the project is in partnership with Marriot, therefore, the residential portion of the development will be named as the JW Marriot Residences. Moreover, the security, quality and safety of the project will be in line with the Marriot’s global international standards. Raza Siddiqui, the executive director explained that there will be sprinkler systems installed in Marriot residences. As far as the accommodation is concerned, there will be a total of 68 villas of five different types ranging from 10,000 square ft area to and area of 20,000 square ft. Each of the 68 villas has been given a name such as Siena etc.

The construction of 120 regular, penthouse and duplex apartments has already been awarded to Saleh Constructions. Around 500 people are working onsite. The entire project is expected to get completed by the end of the year 2012. Despite of the global financial downturn, Rahman is confident enough that the sales price for this real estate project in Dubai Lifestyle City are appropriate. Moreover, about 50 percent of these residential units have already been sold so far.

Dubai’s Al Barari Villa Prices Fall By 30%

Al Barari villas are the luxury developments in the very famous Dubailand. The prices for these villas have fallen by 30 percent in the past one year. Meanwhile, the developers are preparing to handover around 290 residential villas next month. The Chief Operating Officer, Mohammed Zaal told that the handover will be phased in four batches and the delivery of the very first batch will begin around next month and that the first phase of the handover was likely to continue until next year July. Moreover, due to the economic downturn which real estate developers and other property agents around the world are facing, these villa prices have fallen. Dubai real estate has also been under this turmoil situation, however, things are settling down slowly.

If we compare the prices from the last year, it was Dh15m-Dh30m and the price now ranges between Dh12 million and Dh20m. Apart from this Zaal said that Al Barari development has not suffered losses as this project was sold before the property downturn began. Moreover, the construction contracts have been fixed since the year 2005. Majority of villas have been sold and 50 to 60 percent of payments have already been collected. Alwadiya said that as far as property here is concerned; villas are more in demand due to their limited supply.

Once the first phase of the project is handed over the demand for these villas will gradually increase, representing a high absorption especially among superior class segment. 290 villas have been sold in Al Barari, out of which only seven or eight had mortgages in place and the rest are cash buyers. Moreover, various boutique hotels, Grand Mosque, cultural island, the Healing Haven spa and residential apartments will be the elements of the second phase of the development. Not only this, but the developers are constantly putting an effort to improve the construction design in order to suit customer needs.

DUBAILAND property: A big boon to Real Estate in Dubai

A Dh235bn popular master property in Dubai, DUBAILAND is presently in talks with international technology allies to endow with a single-window access to all the attractions once completed, a top official believed. Dubailand is an element of the vision of the government to strengthen the tourism of the emirates and its travel industry, as a part of its plan for economic diversification. The project, launched by His Highness Shaikh Mohammed Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai in 2003, is intended at reinforcing the position of Dubai as a preferred tourism destination.

This project which holds a major part of Dubai real estate is expected to boost UAE tourism currently gripped by global crisis. Dubailand, which covers three billion square feet of land, will be double the size of the theme parks in Orlando, when completed. Among the Dubailand attractions, Global Village, Motor City, Dubai Sports City have delivered parts of the projects while hectic activities are going on at all major theme parks.

'We are hearing a lot of negative things about Dubailand, I think the initial problem with Dubailand was that the sub developers had no idea how to build theme parks,' Attala said. 'They had no idea what they were getting into. Building a theme park is not as simple as constructing a hotel’, held Claude Attala, Managing Director, Business Development, North Course, Middle East.

And despite the shortcomings, Dubailand is poised to be a huge attraction for the emirate. 'Dubailand will be a great indicator of where Dubai is going,' Attala said. 'It will be a bit of an embarrassment if they fail, but I don't think they will. I am a believer in the Dubai story. Once they put their mind to something it usually gets done.'