Jumeirah

MAG 218 Ready For Handover

The MAG 218 residential tower, built at a cost of AED450 million and consisting of 555 apartments spread over 66 floors, is now complete and ready to be handed over to residents following the official opening ceremony yesterday (Saturday 15 May). Commenting on the handover, Mohammed Nimer, CEO of MAG... 

Nakheel offer investors in Palm Jebel Ali more options

Close to 700 investors in Palm Jebel Ali have expressed their dissatisfacion with Nakheel’s offer of alternative properties and have announced plans to bring lawyers into the matter. Nakheel recently received US$9bn (Dh33bn) from the Dubai Government to revive stalled projects and settle debt,... 

Kid bought villas worth $44 million in Dubai

Even by the standards of a city that celebrates extravagance, it was a spectacular shopping spree: In just two weeks early last year, an 11-year-old boy from Azerbaijan became the owner of nine waterfront mansions. The total price tag: about $44 million — or roughly 10,000 years’ worth of... 

Handover begins on Palm Jumeirah

The handover of apartments at Marina Residences on Palm Jumeirah will begin this month, The National reported. Located at the tip of Palm Jumeirah’s trunk, this residential complex of six towers comprises 980 apartments, all of which are sold out. At the same time, construction on Gateway Towers,... 

Uncertainty rules on Palm Jebel Ali

The developer of Palm Jebel Ali, Nakheel, has recently offered investors in the man-made island homes on other projects. Other developers have also encouraged buyers to move their investment from struggling projects and this move casts no smaller shadow on the progress of Palm Jebel Ali. The prices on... 

Dubai Holding merge back-office operations

Dubai Holding unveiled a major restructuring on Sunday in order to cut costs amid the global financial crisis. Dubai Holding, owned by the ruler of Dubai, Sheikh Mohammed bin Rashid al-Maktoum, said it would merge back-office operations at three of its real estate entities, Dubai Properties Group, Sama... 

DAMAC to handover units in Lake View tower

DAMAC Properties has announced the completion of its Lake View tower – the second of the company’s projects to be completed at Jumeirah Lake Towers. The final completion certificate was awarded to DAMAC Properties last week and customers will now begin moving in to the 40 storey tower which occupies... 

Dubai contractors face bankruptcy

Several Dubai-based contractors say they are owed millions of dirhams by state-linked developers and some may face bankruptcy as credit dries up and major projects are cancelled or scaled back in the former Gulf Arab boom town. “There has been a marked increase in the number of contractors asking... 

Residents require greater transparency on maintenance fees

Residents are calling for greater transparency over how money is spent on the maintenance and upkeep of apartments. Laws regulated by Dubai’s Real Estate Regulatory Authority (RERA) say that homeowners should be able to monitor how service charges and maintenance are being spent by participating in... 

Tiger Properties delivers Jumeirah Lakes Towers

Tiger Properties has announced the delivery of its high-calibre landmark development, the 40 storey Jumeirah Lakes Towers. The company’s facilities management arm, having newly been formed intends to serve the 500,000 square feet development. “The completion of this high-calibre project, is testimony...