Solanki plans to invest Dh12bn in real estate

Solanki Real Estate, a newly announced branch of Solanki Holdings, has planned to invest Dh12bn in real estate development. Their flagship development is located on Al Marjan-islands in Ras Al Khaimah and is expected to cost nearly Dh9bn ($2.4bn).

The project will comprise more than 1500 apartments, 100 residential villas, commercial property and hotels. It will also include a shopping mall, with various entertainment options and retail offerings similar to those found in Dubai.

Despite the global financial crisis and its impact on the real estate market, Solanki has confidence in its time of launch. According to Solanki, business activity has increased in RAK with the RAK Free Trade Zone being one of the fastest growing free trade zones in the UAE. The Ras Al Khaimah government has predicted that its population will go from just under 200,000 to 750,000 by the year 2020.

Following the launch of the Dh9bn project on the Al Marjan island, Solanki plans to extend its portfolio offering real estate projects in the other emirates, starting with Dubai. These offerings will include projects in the International City, Dubai Silicon Oasis, Dubailand and Jumeirah Village.

Hampstead and Mayfair launches Dhs125m Hampstead Residences project with an 8% guaranteed income for 5 years

Hampstead & Mayfair, a leading Dubai based property developer has announced the launch of Hampstead Residences it’s Dhs125m project located in the Nakheel master planned community Jumeirah Village.

Jumeirah Village is the largest inland project in Nakheels’ portfolio and is a part of Nakheel’s vision to transform the desert of Dubai into a series of vibrant communities.

Located north of Emirates Road and west of Al Barsha Road, Jumeirah Village is bisected by Al Khail Road into triangular and circular portions. It is spread across 811 hectares at the geographic centre of Dubai, will be comprised of a variety of residences, offices and commercial property, retail and leisure facilities, with an approximate population of 300,000.

Jumeirah Village has been designed with the objective of targeting specific shortfalls in the Dubai property market. It’s location at the very centre of the emirate means it has excellent access to the older parts of Dubai, Jumeirah and the new emerging areas such as Jebel Ali. With such emerging areas, there is a huge demand for a wide variety of housing, office space, retail and leisure with Jumeirah Village destined to satisfy a significant percentage of this demand.

Hampstead Residences is designed by respected architects Archen, who are best known for the Michael Schumacher and Boris Becker towers in Dubais’ Business Bay as well as three islands on ‘The World’ project.

Hampstead Residences has a total built up area of over 74,000 sqft and contains 70 units (37 x Studios, 24 x 1 Beds and 9 x 2 Beds) each with a free parking space. The development is set in landscaped surroundings overall design is classic while offering well specified apartments set in landscaped surroundings.

All the apartments are generous in size with studios starting at 646sq ft, and have a private balcony with views over the park area or private community garden. All residents will have access to a fully equipped gymnasium, stunning roof garden with outdoor pool.

“Hampstead Residences offers investors an excellent value investment in one of the few property markets still offering strong capital and rental returns”

said Joe McTaggart Sales Director UK.

“In addition we are able to offer an unique underwritten rental guarantee of 8% per annum for 5 years, making this one of the most secure property investments in the market”

Mashreq Bank, the largest private bank in the UAE, is providing mortgage finance for both UAE nationals (80% LTV) and foreign nationals (70% LTV)

An Escrow account for the project with Badr Al Islami is already in place, offering purchasers security of funds during the build process.

AME Info/Press release

Premier launches Twin Towers 
in Jumeirah Village Circle

Premiers Property Developers Limited, a company of Premiers Group will be launching Premiers Twin Towers, a project worth Dh 1bn situated in Jumeirah Village Circle later this month. The Premiers Twin Towers is a prestigious signature development consisting of 3 Basement + Ground, + 4 Podium + 33 Residential floors.

The Premiers Twin Towers is located in the prime location in Jumeirah Village Circle on Al Khail Road. The Premier’s Twin Towers is a luxurious residential and mixed use development with 5 star amenities. The amenities will be spread over an area of approximately 42,000 square feet, on the top of the podium.

The world class amenities will include swimming pools, spa, gymnasium, multiple Jacuzzi, relaxation zone, family garden, BBQ area, mini-golf course, basketball court, badminton court, volleyball, billiard room, table tennis and party hall, etc. The Premiers Twin Towers is a mixed use project offering studios, 1 B/R & 2 B/R apartments, and luxurious penthouses with private swimming pool and jacuzzi. The project is scheduled to be completed middle of 2011.

The Ground Floor will have the retail outlets and restaurants while the podium will offer offices with separate entrance.

Accordingly, Premiers Twin Towers will provide an excellent living atmosphere with shops and restaurants and other retail outlets at its doorstep.

Premiers Twin Towers will offer state of the art quality and amenities. The project will be launched during the month of October 2008 and all sale proceeds will go directly to developer’s Escrow Account.

The Premiers Group will also be launching an office tower at another prime location in Jumeirah Village Circle.

Khaleej Times

Memon launches Gardenia project in Jumeirah Village South

Luxury residential tower part of developer’s plans to launch AED 2.5 billion worth of projects by the second half of 2008

Memon Investments, a leading Dubai-based property developer and part of the international business conglomerate, the Memon Group of Companies, has announced the launch of ‘Gardenia I & II’, an AED 150 million project located in Jumeirah Village South. The luxurious residential development marks the leading developer’s foray into Jumeirah Village South (JVS), following previously announced projects in Dubai Silicon Oasis (DSO) and Dubai Sports City (DSC). Targeted for completion by the third quarter of 2010, the tower is part of the leading developer’s plans to unveil several projects collectively valued at AED 2.5 billion by the second half of 2008.

Company officials have also announced that an Escrow account for the project with Commercial Bank of Dubai is already in place, in compliance with the requirements of the Real Estate Regulatory Agency (RERA) and the Dubai Land Department (DLD). In addition, Memon Investments has also partnered with the Middle East Centre for Sustainable Development (MECSD) in line with its aims to implement ‘green building’ codes, sustainable development and ‘green technologies’ within the construction of ‘Gardenia I & II’. The state-of-the-art project features special insulation to reduce air-conditioning power consumption, garbage disposal management, mood lighting in all common areas, recycling unit and a temperature-controlled retail arcade, in a bid to encourage residents to adopt a more ‘green’ approach.

Located centrally within Jumeirah Village South, near the Cultural Centre and the renowned Central Park, ‘Gardenia I & II’ is splendidly designed and meticulously crafted to offer residents a charming yet authentic Mediterranean experience. Incorporating a mixture of residential, commercial and retail spaces, the project features a total of 170 residential apartments including 60 studios, 68 one-bedroom units, 22 two-bedroom units, 7 lavish townhouses and 13 loft apartments, with 8 retail units on the ground floor. The 5-storey residential development has been designed by Dimensions Engineering Consultants (DEC) and incorporates stuccoed walls, tiled roofs, rustic arches, solid wrought iron balcony grills, carved doors, ornamental spiral columns, marble flooring and thematic and floral designs to create a Mediterranean ambience.

Commenting on the launch of the project, Abu Baker Shaikhani, Chairman, Memon Group, said,

“This is our first project in Jumeirah Village South, and a lot of market research and planning have gone into the conceptualization of this residential project. Location has always been a key factor for us and we are pleased to get a prime spot, which is very close to the Central Park and Cultural Centre, both of which are at the heart of the development. We are highly optimistic about the sales prospects of the development, especially after taking into account, factors such as the superior quality of the development, excellent location, and also the ease of access to Emirates Road, Al Khail Road and other major roads.”

Built on a 90, 000 sq. ft plot and with a total built up area of 157,265 sq. ft, residents of ‘Gardenia I & II’ will have access to world-class facilities including two roof-top health clubs comprising of communal swimming pools, gymnasiums, steam, sauna, spas with Jacuzzis, rooftop juice bar, party halls and outdoor terraces, majestic marble lobby, basement parking, landscaping, 4 hi-speed elevators, retail arcade on the ground floors of each wing comprising of concierge desk at the lobby, boutiques (renowned lifestyle brands), cafes, restaurants and travel agency. Other amenities include valet parking, 24 hours manned security, in-house maintenance team, Wi-Fi technology, keyless entry, mood lighting, hi-speed internet connection, and a state-of-the-art surveillance and intercom system for each apartment.

“We were keen on making ‘Gardenia I & II’ affordable to a wide segment of potential investors, which is why we have devised two investor-friendly payment schemes. Investors have the option of either making a 10 per cent down payment and obtaining 80 per cent finance, or making a 10 per cent down payment and 80 per cent through quarterly installments. To ensure that the project is completed on schedule, we have finished the necessary regulations by registering with Dubai Land Department, and have also opened an Escrow account with the Commercial Bank of Dubai,” added Ahmed Shaikhani, Managing Director, Memon Investments.

With offices in eight locations across the UAE, Egypt and the rest of the Gulf region, Dimensions Engineering Consultants has been providing award-winning architectural and engineering services to a broad range of public and private clients in the region. Specialising in delivering value-added professional solutions, the company’s project portfolio includes renowned structures within Dubai Health Care City, Palm Jebel Ali, Jumeirah Lake Towers, Falcon City of Wonders and Dubai International City, among others. Backed by two decades of industry experience, DEC has completed over 500 projects in the region, and is undertaking approximately 100 projects at present.

“The collated value of the quality of our workmanship, our keen attention to detail, and the creative inputs, which have stood as trademarks of our designs have gained us our strong relationship with the region’s leading developers. Our involvement in the design of the most important skyscrapers today, especially in the Dubai skyline, is a testament to the extent of our creative abilities and professionalism. Through this project, Memon Investments has handed us their full trust, and it is with great confidence that we will reach the high standards, which this developer incorporates within all its projects,”

said Hisham A. Al Ghany, Chairman, Dimensions Engineering Consultants.

Eye of Dubai