Solace Properties unveils Dhs700m project
October 14, 2008 by UAERush · Leave a Comment
Solace Properties, an Abu Dhabi based developer, unveils Solace Livings, a mixed use residential and commercial tower valued at Dhs700m at Al Reem Island, Abu Dhabi.
Solace Livings is an iconic 30 storey waterfront development located directly on sea in the Central Business District of Al Reem Island. The Master Developer is Tamouh.
Amenities include swimming pool and gymnasium. Located on the main promenade & close to Central Park with full view of sea.
SPF Realty, a Dubai based brokerage firm, has been awarded sales & marketing rights of the project.
Project was showcased at SPF Realty Stand No. RQ 30, Shk. Rashid Hall, Cityscape Dubai.
“We would like to show our appreciation to the organizers of Cityscape event for putting forward such an admirable policy.The intense attention we’ve received for our project serves to support our certainty that we are on the precise trail.”
said a company spokesperson.
AME Info/Press release
Dar Al Dhabi Real Estate announces the unveiling of the 1st phase of The Wings
October 7, 2008 by UAERush · Leave a Comment
Soaring 300 metres, The Wings are positioned to redefine the Abu Dhabi skyline. Dar Al-Dhabi Real Estate unveiled the first phase of the stunning residential and commercial development at Cityscape Dubai 2008. The Wings, located on Al Reem Island’s only marina yacht club, represent the heart of the Dar Al Dhabi Project.
The Dar Al Dhabi Project’s towers are destined to be a landmark, inspired by the one of the Arab world’s most significant symbols of strength and majestic beauty, the falcon. The Wings architectural structure is a direct representation of the falcon’s elegant wings which will welcome onlookers to Al Reem Island. The East Wing is a residential tower, comprised of 1, 2, and 3 bedroom apartments, with penthouses and townhouses in the uppermost floors of the tower commanding unimpeded views of the island, Abu Dhabi and the Arabian Gulf. The West Wing, on the one hand, is a commercial tower equipped with abundant parking spaces and world-class facilities and services that will undoubtedly make it one of the most prestigious business towers.
“With The Wings’ residential and commercial towers, we are introducing an enviable standard for living and work spaces that beautifully combine luxury and state-of-the-art technology,”
said Abdulwahab F. Al-Ameer, Chairman and Managing Director of Dar Al-Dhabi Real Estate.
Boasting over 2 million sq. ft of high-tech office space and 2,500 luxury residential apartments, duplexes and penthouses, and over 60,000 sq. ft of boutique retail area, residents and visitors will enjoy wealth of services and amenities and a breathtaking sea and city view. In addition to The Wings (1 Commercial and 1 Residential), the Dar Al-Dhabi Project comprises two 35-storey Al-Sharq Towers (2 Residential) and two 7-storey Al-Seef Towers (1 Commercial and 1 Residential).
“This development aims to meet the burgeoning demand for world-class facilities and services for both residents and business executives alike in this booming city,” added Abdulwahab F. Al-Ameer. Because it will serve commercial, residential and retail purposes and employ international standards, the Dar Al Dhabi Project has quickly attracted discerning investors wishing to align themselves with superior property investments that support the long-term economic development of Abu Dhabi.
Expressions of interest for sales will be welcomed for all six towers comprising the Dar Al Dhabi Project during Cityscape Dubai 2008.
Burooj Properties unveils “Burooj Crystal” at Cityscape Dubai 2008
October 7, 2008 by UAERush · Leave a Comment
Burooj Properties, one of the leading Abu Dhabi-based property developers and a subsidiary of Abu Dhabi Islamic Bank (ADIB), has announced the launch of its new project on Al Reem Island - Burooj Crystal.
The announcement was made on the sidelines of Cityscape Dubai, currently being held at the Dubai International Exhibition Centre, October 6-9.
Burooj Crystal is part of a cluster of towers called the City of Lights on Al Reem Island. At 184.85 metres, Burooj Crystal is the tallest among Burooj’s projects on the island.
The 48-storey tower has 322 apartments ranging from studio to 1, 2 to 3-bedroom apartments. It boasts spacious living spaces, has a dedicated mezzanine floor for retail and five podium parking levels with 409 parking slots.
A waterfront development, Burooj Cystal has the latest facilities management systems such as automatic temperature control, air quality control, lighting, waste disposal system, CCTV monitoring. 24-hour security, a multi-purpose hall, a health club with indoor and outdoor swimming pools, steam room, sauna and gym facilities are also included.
Adel Ahmed Al Zarouni, Managing Director of Burooj Properties, said:
“Burooj Crystal offers the convenience of living beyond the bustle of the city with access to an elegant, urban lifestyle. This project is primarily meant for those looking for high quality living and those who appreciate the finer things in life.”
Burooj Properties’ stand at Zabeel Hall (ZH60) showcases the company’s latest projects on Al Reem Island including Burooj Terraces and Burooj Pearl, a 26-storey residential tower being developed near the Central Park on Shams Abu Dhabi.
Enthusiastic response to Tamweel offers at Cityscape Dubai 2008
October 7, 2008 by UAERush · Leave a Comment
Tamweel PJSC, the largest provider of real estate finance in the UAE, has met with an extremely enthusiastic response to its finance offers at Cityscape Dubai 2008, including more than 470 registrations for property on the first day of the event, demonstrating the health of the market for well-priced properties.
Despite challenging conditions globally, investors and end-users responded strongly to Tamweel’s offer of up to 90 per cent finance for visitors who register for a pre-approval facility at the company’s exhibition stand, with no arrangement fees upon registration on select Tamweel properties,
“In the days leading up to Cityscape, amidst ongoing turmoil in global credit markets, there was a great deal of anticipation about the response from investors and end-users to the largest business-to-business real estate investment and development event in the world,”
said Wasim Saifi, Group Chief Executive Officer, Tamweel.
“Following the conclusion of the first day of the event and the record response to our finance offers, we remain more convinced than ever that the fundamentals of the market here remain extremely sound.
“We are still a good three years away from supply-demand equilibrium in the Dubai market, and the appetite for well-priced properties remains unabated,” he added. “For real estate finance providers like Tamweel, the future therefore continues to appear extremely bright. We look forward to a successful conclusion to this important event, which will send a clear message of reassurance to markets here and, by extension, across the world.”
Visitors to Cityscape Dubai can chose from a range of innovative real estate financing solutions from Tamweel and avail of exciting offers at its stand 6B30 in Hall #6. Cityscape Dubai 2008 takes place from October 6–9, 2008, at the Dubai Exhibition and Convention Centre.
Dubai unveils $95bn ‘new city’ project
October 7, 2008 by UAERush · 2 Comments
A Dubai government firm yesterday announced it will build a ‘new city’ in the emirate at a projected cost of $95bn, shrugging off the global financial turmoil.
The announcement came one day after Dubai developers Nakheel said it planned to build a tower which will stand more than one kilometre tall (3,280ft), beating the city’s own world record.
The mixed-use Jumeirah Gardens development will be “an integrated city within a city”, to be built over 12 years, Meraas Development said at the opening of Cityscape Dubai 2008, a four-day international real estate fair.
Dubai already boasts the world’s tallest building, the yet to be completed Burj Dubai tower, which reached a height of 688m (2,257ft) at the start of September and is still growing, according to developers Emaar.
It now boasts 160 storeys, the highest skyscraper in the world, Emaar said.
Jumeirah Gardens will stretch north of Sheikh Zayed Road, Dubai’s main thoroughfare linking it to the emirate and UAE capital of Abu Dhabi, 150km to the south. Meraas Development said the project would comprise business, residential and leisure facilities linked by a transportation network and including some of the city’s biggest towers, and with a large canal running through the development. Construction of the first phase of the project has already begun, and the first buildings are due for handover in the fourth quarter of 2011, the company said.
The announcement came at the opening of the Cityscape exhibition, an annual feature on the property calendar of Dubai, which is in the midst of a construction frenzy. Some 1,500 firms from 150 countries are taking part in the event.
Nakheel CEO Chris O’Donnell told reporters on the sidelines of Cityscape that the skyscraper project announced on Sunday “will be over one kilometre and take 10 years to build”.
The tower, part of the Nakheel Harbour and Tower project, is expected to cost Dh140bn ($38bn), O’Donnell said. But Dubai has not been spared the turmoil on world markets. Dubai Financial Market dropped 7.6% yesterday to its lowest level in more than 18 months. The market has lost around 14% in the past two days, pulled down by the real estate sector. O’Donnell said Nakheel’s new project was likely to have a psychological effect on the real estate market but denied this was the reason behind the public launch.
“We’ve been working on the project for six years,” he said, adding that work on the foundations was already under way.
“The project is going to go through two or three economic cycles… when you’re running a business you can’t just stop at the middle of the downturn,” O’Donnell said.
“We believe in what we’re doing, (even though) it is an unfortunate time.”
Nakheel is behind some of Dubai’s most grandiose projects. It is building three palm tree-shaped artificial islands, as well as ‘The World’ — a cluster of some 300 islands looking like a blurred vision of the planet’s nations—off Dubai’s coast.
Scores of other ambitious ventures are under way or in the pipeline, including Dubailand, a series of billion-dollars entertainment and leisure projects touted as the Middle East’s very own Orlando. –AFP
Al Barari to unveil projects at Cityscape
October 7, 2008 by UAERush · Leave a Comment
At Cityscape Dubai 2008, Al Barari will reveal its latest offering of unprecedented residential and lifestyle property that is Phase Two of this stunning real estate project. Spread over 14.2 million square feet and located in the royal area of Nad Al Sheba, the US$6.4 billion project is set to redefine the traditional idea of luxury living by marrying environmental sustainability with indulgence.
Although setting new standards of luxury living, Al Barari Phase Two has been specifically designed to uphold and reflect the fundamental components of Al Barari by offering a number of distinctive living zones such as The Living Wall which encompasses a walled garden walkway featuring rustic organic shops, individual mixed retail outlets and lifestyle apartments; The Cultural Island with its open air markets, galleries, exhibition halls, theatres and Art Guild acts as the cultural heart and soul of Al Barari; The Grand Mosque, a timeless Islamic architectural statement representing the intertwining of the complexities of modern day living with traditional harmonious balance and The Old Souk, a blend of retail outlets, fresh markets, small offices, restaurants and coffee shops.
“In Phase Two we have set about developing a community rooted in tranquillity and harmony which further demonstrates our commitment to value creation not just through bricks and mortar, but more importantly through intrinsic, tangible experiences,”
said Mohammad Bin Zaal, COO of Al Barari.
Mohammad bin Zaal further commented, “We also want to push the realms of luxury living, and our Billionaire Collection with infinity swimming pools, hanging gardens, courtyards, home theatres and private home spas will re-define the apartment concept and reinforce Al Barari’s position as market leader in discerning and distinctive living.” Phase Two further houses 55 secluded spa villas each with its own private treatment pavilion and swimming pool. United by a single common building that makes up the alternative medicine village and spa, Soul Al Barari weaves nature with exquisite design.
Cityscape will be the platform from which Phase Two of Al Barari is revealed and where appointments will be taken for when the official launch date is set.
WAM/MAB
Summary of Cityscape Dubai 2008 day 1
October 6, 2008 by UAERush · Leave a Comment
Gulf Arab property firms launched $100 billion of new projects on Monday, but the news failed to restore investor confidence as fears grew that the global credit crunch is biting and the local real estate market overheating.
From a 350 billion UAE dirhams ($95 billion) beachfront project to a kilometre-high tower, developers at Dubai’s annual Cityscape exhibition launched the usual raft of mega-developments that have propelled the Gulf Arab commercial hub to international fame.
Dubai mortgage lender Tamweel TAML.DU said it would launch up to 2 billion dirhams of Islamic bonds in 2009 despite the liquidity squeeze gripping world markets and Abu Dhabi’s Sorouh Real Estate SOR.AD said all its projects were on target.
But investors in the United Arab Emirates shrugged off the upbeat news to extend weeks of declines, with shares in Emaar Properties EMAR.DU ending 10.7 percent down while Aldar Properties ALDR.AD and Sorouh SOR.AD lost more than 9 percent.
And Kuwait’s Abyaar Real Estate (ABYR.KW: Quote, Profile, Research, Stock Buzz) postponed the sale of its $1 billion Islamic bond due to the global credit crunch.
“The UAE is not an isolated link from the chain, from the global financial system,” said Sorouh CEO Mounir Haidar.
“However the UAE does enjoy slightly different dynamics. The UAE is an emerging economy and demand is strong. Economic policy is encouraging for people to invest in the region.”
Connection Real Estate announces 1st LEED Platinum mixed-use towers in the Middle East at Cityscape Dubai 2008
October 6, 2008 by UAERush · Leave a Comment
Connection Real Estate and their exclusive sales agent, Colliers International, plan to launch the landmark Eco Towers at Cityscape Dubai 2008.
During their participation they will reveal details about the 23-storey twin towers which are strategically located in the prestigious community of Dhanet Abu Dhabi. The Abu Dhabi-based property development company is set to build the first mixed-used towers in the Middle East with LEED Platinum certification.
The Eco Towers, named for their eco-friendly positioning, will provide retail space, modern facilities and luxurious Grade-A quality finishing while adhering to environmentally sensitive standards. Costing an estimated Dhs900m, this unique residential and commercial property also personifies the compatibility between value driven principles and a multi-facted approach to green construction.
HE Khalifah Khoury, Vice President of Connection Real Estate said:
“We are extremely excited about launching the Eco Towers at this year’s Cityscape Dubai as it will highlight our company’s plans to play a dedicated role in promoting the UAE’s vision of green building. By offering construction solutions that create the lease impact on the environment, we hope to serve as a sustainable benchmark for the region.”
The Leadership in Energy and Environmental Design (LEED) is an international green building rating system that sets environmentally sustainable construction criteria. It aims to establish a common standard of building designs that minimize risks on the environment and raise awareness among consumers of the benefits of green construction. and Platinum is the highest level.
Fadi Al Qassim, Projects Manager of Connection Real Estate said:’ While striving to achieve the highest LEED certification in the extreme conditions of the desert for the Eco Towers, we look forward to the transformative effect of adopting environmentally friendly practices in the building industry. Building for the future has never been more exciting or imperative,’ Al Qassim continued ‘We have selected the US Green Building Council to grant us with the Leed Certification as they have a thorough understanding of what our local market requirements need as they experience similar conditions to those we have in our market.
The commercial tower will offer 36,485 square meters of office space while the residential tower will provide 36,685 square meters of space for healthy living. Eco Towers’ living and working spaces will be more cost-effective, safer for the environment, healthier to live and work in. Air purification systems, renewable energy, toxic-free materials, dual glaze windows, water efficiency and waste reduction are just some of the eco-friendly features incorporated into the development. Perched on a podium, the towers’ amenities include Smart Home Technology, linked underground car park and proximity to the Holiday Inn in Dhanet Abu Dhabi.
Connection Real Estate and Colliers International will showcase the Eco Towers at stand number 7E40, Hall 7 at the Dubai International Exhibition Centre. Expressions of interest for sales will be accepted at Cityscape Dubai 2008.
AME Info/Press release
DEC unveils AED 250 million residential project at Cityscape
October 6, 2008 by UAERush · Leave a Comment
Dheeraj East Coast LLC, a leading Dubai-based real estate developer known for delivering value-driven realty solutions, today announced the launch of its prestigious high-end MODO project at Culture Village in Dubai, at Cityscape Dubai. The AED250 million residential development promises to raise the bar for avant-garde couture living in the Gulf region. The launch of MODO is envisaged to mark a new era in the history of the real estate company, as DEC shifts its focus to avant grade couture realty solutions.
Speaking at the launch on MODO, Mr. Dheeraj Wadhawan, Managing Director, DEC, said:
“Avant-garde literally means ‘advance guard’, and we are proud to say that DEC has always been in the forefront of bringing new innovations, new ideas and new techniques into the realty sector. With MODO, we intend to expand the concept of couture living, taking it to a new level of style and elegance.”
“The Gulf region is rapidly moving up the value chain as people look to lead more satisfying, meaningful and fulfilling lives. We see the world through the eyes of our clients, hence we seek to develop residential solutions that enrich the way people work, live, learn and play. The need today is to enhance value and create superlative luxury for the connoisseurs of comfort,”
he added.
MODO’s tryst with style and elegance is led by Arkiteknik International & Consulting Engineers, the Dubai-based architects of the project, and embellished by the products of fashion houses JOOP! Living and Culti. The interiors of MODO’s 47 apartments - comprising studio and one-and two-bedroom units-in the G+9 building, covering a net area of 37,000 sq feet, will feature the sense of style and passion for quality and luxury of these iconic brands. Slated for completion by 2011, the development is a unique design statement, characterised by state-of-the-art technology and featuring amenities like concierge services, facilities management, swimming pool, spa and designated car parking.
The high-end fashion products of Culti, the Italian maison, are true experiences for the senses and create an impression that they are one-of-a-kind that cannot be found elsewhere. Whether a sofa, bed, kitchen or bathroom, every detail is customised and personalised. The Culti collection includes furniture, lighting systems, objects and textiles for every room.
“At Culti, a constant and an unforgiving attention to detail is a way of life. Walk into a Culti space and it’s somewhere you want to be, and also somewhere you want to invite your friends. Every piece in the collection is designed and crafted in Italy, guided by the design flair of Alessando Agrati. To choose Culti is to be aware of, and enjoy, the finer things in life.
“Our alliance with DEC is our first partnership with a Middle East realty developer. Our partnership with DEC has come after a strict evaluation of their property portfolio. We are pleased to partner with a developer that shares our vision of creating a living experience that is unmatched in quality, comfort and luxury”, said Mr Sergio Rizzi, Director Arhitect & Design Division, Culti.
Commenting on JOOP’s partnership with DEC, Mr. Kristine Marqus, Managing Director JOOP Living, said; ” This is JOOP’s first venture into the high end luxury residential segment. Real estate industry world-over and particularly in the Gulf is experiencing brand-extension whereby the living spaces are becoming more of lifestyle statements. This opens up a lot of opportunities for luxury brand. Though we have been receiving a lot of opportunities , we choose to tie-up with Dheeraj as we share a common passion for innovation and excellence. “
JOOP! is a Hamburg-based fashion label known for its unique trendsetting sense of style, inimitable class, quality and sophistication. The JOOP! Living series includes furniture, linen and decorative accessories for every room. The array of unconventional styles and patterns of this designer collection are guaranteed to lift the entire mood of the interiors of any apartment, giving it a touch of sheer class.
DEC is a multifaceted developer and designer known for its ability to look beyond the obvious and explore alternatives. It views its projects as strategic assets that add value and offer excellent investment opportunities to both investors and end-users. DEC won the ‘Developer’s Commitment to Efficient Buildings’ award at the inaugural facilities management Middle East Awards organised in Dubai by ITP Business Publishing.
Sheikh Hamdan officially kicks off Cityscape
October 6, 2008 by UAERush · Leave a Comment
Dubai’s crown prince opened the Middle East’s largest real estate expo on Monday morning, kicking off the four-day conference at the Dubai International Exhibition Centre.
Surrounded by crowds of officials, exhibitors and media, Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum cut a ceremonial ribbon to officially open Cityscape Dubai 2008.
After the opening ceremony Sheikh Hamdan, wearing a pale yellow dishdash, toured the exhibition, which this year features more than 1,000 exhibitors.
His first stop was at the Meydan Racecourse stand where he was shown a model by one of his officials.
Organisers will be hoping this year’s event will give the real estate market in the UAE, and in particular Dubai, a psychological boost.
Cityscape opens at a time of turmoil in the region’s stock markets, negative forecasts for Dubai’s real estate market and an ongoing corruption probe that has seen several high-profile business figures arrested.
Sunday saw real estate stocks tank in Dubai and Abu Dhabi, with Emaar Properties posting its sharpest one-day decline in at least two years, and UAE markets extended losses on Monday.
Dubai’s benchmark slid 6.86 percent to 3,844 points on Sunday. Shares of Emaar Properties plunged 12.26 percent and Arabtec Holding tumbled 14.4 percent.
Abu Dhabi’s benchmark declined 4.72 percent to 3,769 points with Aldar and Sorouh falling 9.16 percent and 9.26 percent respectively.
Among the speakers on Cityscape Dubai’s opening day a former London mayor, Ken Livingstone and British writer and broadcaster Jonathan Dimbleby
Organisers say the four-day event, which takes place at the Dubai International Convention and Exhibition Centre, is expected to attract record numbers.
Conferences across the event will include the Real Estate Leadership Strategy Summit, The International Real Estate Investment and Development Conference and The World Architecture Congress.
Organisers will be hoping this year’s event will give the real estate market in the UAE, and in particular Dubai, a psychological boost.
Cityscape opens at a time of turmoil in the region’s stock markets, negative forecasts for Dubai’s real estate market and an ongoing corruption probe that has seen several high-profile business figures arrested.
