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.

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.”

Attractive Finance for Executive Towers by Dubai Properties

Dubai Properties is a subsidiary of Dubai Properties Group (DPG). It has announced its coalition with the Standard Charted Bank in order to offer Easy loan mortgages. This easy loan serves as a great funding option for potential buyers and those who are the existing owners of the residential units at Executive Towers. This master development is a unique property in Dubai ideally located at one of the prestigious development in Business Bay. The Executive Towers comprises of both commercial as well as residential units.

Customer’s property will be evaluated directly by SCB as a part of this easy loan by some independent surveyors and finance is being offered with minimal documentation requirement from the client. This easy loan mortgage product is beneficial for those who are resident in the UAE and they should also meet some specific eligibility criteria for that matter. This mortgage product offers financing of up to 40 percent of the total property price. The Group CEO of Dubai Properties Group, Mohamed Binbrek said: Dubai Properties' alliance with Standard Chartered, one of the leading Mortgage Providers, is part of an endeavor to provide our clients with viable loan options. We are focused on leveraging synergies across the real estate sector and aim to continue delivering strong investment values to our customers and give them the confidence and security to invest in the real estate market.”

The advantage of these financing terms can be taken by the customers for the final payment for tenure of 3 to 25 years. This financing term is on Dubai Properties Executive Tower residential property units. The financing term for the final payment varies from Dh150000 to Dh10 million. As part of the loan customers can also finance their land registration charges.

After Emaar and Dubai Properties Merger New Entity to have Dh194bn

Emaar properties have a proposed merger with three Dubai Holding entities and it has been said that now the combined assets are Dh194 billion. Moreover, with their merger a new entity has been created. Emaar Chairman Mohamed Alabbar said to Dubai Financial Market: “The new entity will have Dh13.4 billion of debt obligations, around seven per cent of total assets valued at Dh194bn.”

Dubai properties, Sama Dubai and Tatweer, all three entities of Dubai Holding have a solid land bank, thereby, contributing positively to the consolidation. At the end of the year 2008, the 3 real estate developers excluding Emaar properties has a total asset of Dh126 billion, moreover, an external debt of Dh3.4 billion. This complete are just 2.7 percent of the total assets of the 3 companies. As per 31^st March 2009, the total book value of assets of the largest listed Arab developer was at Dh68bn. The total debt obligation comes out to be 15 percent of total assets that is Dh10bn. Sama Dubai, Dubai properties and Tatweer are the three entities of Dubai Holding which are valued at Dh126bn as of December 2008. Moreover, they have external debt obligations as well which are around Dh3.4bn.

Although, four of them will join their assets, however, they will also share a debt of Dh13.4 billion. Out of these 4 Emaar properties is the only Dubai real estate developer that is being listed on DFM which at the end of March had the total assets worth Dh68 billion and the debt obligation of Dh10 billion.

Foundation Works Awarded for Dubai Real Estate Project

Khuyool Investments is a leading property developer in the UAE awarded Delta Foundation the works for Abjar Tower which is a real estate project based in Dubai. The foundation works for this is supposed to get completed in the first quarter of the year 2010. After the groundwork gets completed, phase one of the construction will begin. Chairman of Khuyool Investments, Engineer Fahad Ali Mousa said: “This announcement is a very significant step for us as it reflects our strong commitment to all investors. We will go ahead with all our projects as planned with firm determination.”

Currently Khuyool Investments is being involved in developing many other real estate projects across locations in Dubai. The CEO of Khuyoon Investments, Engineer Kussay Al-Sheikh added: “The appointment of Delta Company was in line with the company's efforts to ensure the quality and fast pace of the project's construction, keeping in mind that Abjar Tower is the tallest project within Jumeirah Village South.”

This tallest tower in Jumeirah Village South is uniquely designed incorporated with great luxury thus, enabling a luxurious lifestyle. This iconic property has become a famous landmark and is greatly inspired by its surroundings. Abjar Tower offers a blend of elegance and luxury with distinct glamour. Various other real estate developments are going on a large scale but this property project seems to be special. The CEO of Delta Foundation, Dr. Ibrahim Al-Banna embodied his organization at the signing ceremony of the agreements.

ETA Star handovers Liberty House Real Estate Development

ETA Star is one of the leading real estate property developers in the UAE. This real estate company has now started handing over residential and office units to Liberty House owners. It is located in Dubai International Financial Centre district (DIFC). This property development company has already begun the handling of Dh700 million. Liberty House offers a complete range of freehold residential accommodation. The project is a 42 storey freehold tower; L shaped comprising of luxury studios, 1-2 bedroom duplexes and 1-2 bedroom apartments.

The Executive Director of the ETA Star, Abid Junaid said: “With great pride, we are pleased to say that we are amongst the first private property developers to deliver a project in the DIFC district. Keeping in mind to the current scenario, the delivery of the magnificent Liberty House holds strong significance in our hearts as this validates our trust and commitment towards our loyal patrons and customers. We will continue to strive towards completing our projects as per schedule.”

Liberty House is a full fledge unit comprising of office space, residential accommodation, car parking etc. This property in Dubai consists of office spaces on 10 floors. Above this there are 20 floors providing luxurious residential accommodation. Moreover, car parking is not at all an issue as 6 levels of car parking are available. This office property in Dubai in Liberty House is centrally located around an atrium space thereby, providing a lively and a comfortable environment for the employees. Moreover, the apartments are being developed with contemporary designs and a great level of sophistication is also involved. Apartments are designed keeping in mind the modern lifestyle with terrace areas. Thus, it has become a perfect residential and a commercial property.

Nakheel drives the Can Collection Drive of the Emirates Environmental Group

The master developer of Dubai, Nakheel, has declared its support of the Emirates Environmental Group’s (EEG) Can Collection Drive for the year 2009. This will observe Nakheel communities and offices donating their cans throughout the month of May to the not-for-profit organization whose principle is to raise awareness of the issues related to environment in the Gulf region. The project is a part of the Nakheel’s Recycle it! Program which barred over 3,500,000 kilograms of waste from entering Dubai's landfill sites during 2008.

This significant accomplishment was made achievable by the unbeaten partnership between Imdaad Environment, its main waste contractor and Nakheel. Nakheel, the master developer leads by example when it comes to waste management and requires its many contractors to reduce, re-use and recycle waste wherever possible. The Managing Director, Nakheel Asset Management & Design, Abdulrahman Kalantar, has quoted, 'Nakheel is committed to waste management and has a number of strategies in place throughout or communities and offices to help not only reduce waste but also raise awareness of environmental and waste management issues. We are delighted to be working with EEG to support the Can Collection 2009 by collecting cans from our offices and communities throughout the month. We will also be providing facilities and volunteers for the culmination of the drive on Thursday May 28th’

The Emirates Environmental Group is supported by Nakheel, which helps raising awareness on responsible waste management and recycling, on a continuous basis. Nakheel takes a leading role in the EEG’s community education campaigns each year, and motivates contractors and staff to take part in the EEG’s annual events including Can Collection Drive and Cleaning Up Day. For all those who are interested to take part in this year’s campaign can contact EEG at 04-3448622 or e-mail at eeg@emirates.net.ae .