Emaar Properties wins Best Developer in MENA region at Euromoney Liquid Real Estate Awards

UAE’s Emaar Properties, the global property developer, has been adjudged Best Developer in the Middle East and North Africa (MENA) region at the Euromoney Liquid Real Estate Awards. Emaar won six awards in all, including awards for Best Developer in the UAE, and for Best Residential and Best Mixed-Use Developer in the MENA region and the UAE.

Euromoney Liquid Real Estate Awards honour the world’s leading developers for their commitment to industry best practices in overall project management and strong investor relations and corporate governance practices, as reflected in the company’s financial fundamentals. Euromoney Liquid Real Estate is a publication focused on international real estate financial markets, and the winners are selected from a global poll amongst industry professionals.

Arif Amiri, Senior Director - Investor Relations and Corporate Governance, Emaar Properties, said:

“The Euromoney Liquid Real Estate Awards are a reiteration of Emaar’s thought-leader position in the real estate sector of the MENA region. Emaar is recognised as the pioneer of master-planned communities, and leveraging on the strength of forward-looking government policies, continues to explore growth options in developed and emerging markets.”

He added: “The driving force in Emaar’s global expansion has been a sustained focus on maximising value for our stakeholders through best practices in investor relations and corporate governance. As we go global, it is imperative that we inculcate international standards that enhance investor trust and build the basis for a fundamentally strong company. The Euromoney Liquid Real Estate Awards are recognitions from the real estate industry peers for the financial and developmental track-record we have built for the company.”

Introducing the concept of master-planned communities in Dubai with path-breaking projects such as Emirates Living, Dubai Marina, Arabian Ranches and Downtown Burj Dubai, Emaar expanded geographically and into new businesses such as education, healthcare, financial services, shopping malls and hospitality ‘&’ leisure. This was in line with its Vision 2010 to become one of the most valuable companies in the world.

Today, Emaar has a strong portfolio of projects in 36 markets globally, with a development value for the international projects alone over AED 367 billion (AED 100 billion). Emaar has set industry benchmarks with project such as Burj Dubai, the world’s tallest building; The Dubai Mall, one of the world’s largest shopping and entertainment destinations; and King Abdullah Economic City in Saudi Arabia, the single largest private sector project in the Middle East region. Emaar has unveiled integrated communities in Egypt, Morocco, Libya, Turkey, Saudi Arabia, Syria, Jordan, Indonesia, Pakistan, India, Canada and the US.

Emaar’s projects energise local economies by creating new job opportunities and supporting ancillary industries. The company’s development ethos is to create full-fledged communities that offer a spectrum of lifestyle amenities in integrated mixed-use neighbourhoods.

WAM/MMYS

Limitless launches US$350 Million World Island Resort

Limitless is to create, own and operate a US$350 million, 10.5 hectare ultra luxury resort on a manmade island 14km from the Dubai coastline, the company announced today (Monday).

World Island Resort - on the north-east perimeter of The World development - is the tenth project for Limitless and the latest addition to its growing global portfolio, currently worth more than US$100 billion. It will be showcased at Cityscape Dubai next month.

World Island Resort will comprise 53 villas and water homes. Among them, 23 privately-owned villas, ranging from 650 to 820 square metres, offered for sale by invitation. Each will have a beachfront location or sea frontage with a private jetty, summerhouse and mooring facilities, and will come with its own spa treatment room, swimming pool, rooftop garden with outdoor kitchen, landscaped ground level garden overlooking the sea and internal elevator. The villas will be serviced by the hotel and can be leased back to the hotel when they are not being used by their owners.

The hotel - the first of several luxury hotels planned by Limitless - will focus on health, wellness, relaxation, world-class cuisine and the arts. It will feature a 2,000 square metre spa; an amenity building including specialty restaurants, art galleries, auction rooms, conference facilities and libraries; and luxurious accommodation in 30 villas or water homes. At its heart will be a calming lagoon with water features and a social clubhouse. There will also be a reception suite on the Dubai mainland: residents will reach the island by a private boat.

Like all Limitless developments, World Island Resort is designed on a human scale, and will be constructed in line with international sustainability and environmental standards.

Saeed Ahmed Saeed, CEO of Limitless, said: “In delivering World Island Resort we will draw on our expertise in waterfront development and the creation of distinctive projects that enhance and enrich people’s lives.

“World Island Resort will set a new global benchmark in the design and operation of luxury resorts. It is the flagship for Limitless’ waterfront hospitality developments and the launch pad for a range of high-end hotels we are planning in other waterfront and city locations.”

Construction will begin towards the end of 2008, with completion in around two years.

World Island Resort can be seen at the Limitless stand (ZJ20) at Cityscape Dubai 2008. Limitless will also display nine other projects: Arabian Canal and Downtown Jebel Ali (UAE); Sanaya Amman (Jordan); Al Wasl (Saudi Arabia); Khimki Region (Russia); Bidadi (India); Puteri Harbour and Malaysia International Halal Park (Malaysia) and Halong Star (Vietnam).

Venture Capital Bank awards D51 Island architecture and development to dxb-lab

Venture Capital Bank has granted the architecture and development of D51 Island in The World project by Nakheel to dxb-lab Architecture. Nakheel has approved the preliminary designs.

Mr. Khalid Abdul-Karim, Chief Investment Officer of Real Estate at Venture Capital Bank commented

“Among many architect offices, we found the dxb-lab team to have a unique combination of the creativity required to develop a distinguished design concept, and (ii) the local expertise required to manage the development of this size. We have been working closely with the dxb-lab team in order to develop a design theme that distinguishes D51 Island as a boutique luxury resort among other developments in the region. We are pleased with the progress made to-date. We have obtained Nakheel’s initial approval on our design concept and are now in the process of completing detailed designs”.

“Island D51 may well become the boutique resort in Nakheel’s World Development”, notes Khalid Al Najjar, Partner and Founder of dxb-lab Architecture, “We are known for our avant-garde concepts and a striking design approach; and this project in particular provides us with a novel and exciting architectural context. The architecture envisioned will have a modern, simple and sleek look. It is almost like discovering a new world”

On his side Mr. Shahab Lutfi, partner dxb-lab, commented, “We are proud to have such a challenging and exciting project at hand. D51 is truly set to be the ultimate luxury destination upon completion, and the feedback we have received thus far has been overwhelming. We have submitted our preliminary designs and have already received initial approval from Nakheel. This shows the talent, creativity and dedication of our team.”

D51 Island is located in the northern part of The World, known more commonly as Russia. The island will have unlimited views of the sea and to the east it will have a view of the skyline of Dubai. 100 villas are planned and classified in different categories such as 3 and 4 bedroom Sunset Beach villas, 2 bedroom Canal View villas, one bedroom Lagoon villas, Lagoon Suits, 4 Super Yacht units.
Each unit is uniquely situated on the island. The Lagoon villas and Sunset Beach villas are right on the beach with stunning vistas. Canal View units and Super Yacht villas have their own exclusive yacht dock. And finally, the Lagoon Suits will have 180 degree elevated view of the island facing sunrise and sunset. The island will enjoy two beaches one facing east and the other west. The marina will be spacious enough to fit 25 yachts. The Island will also offer a luxurious spa, two exclusive restaurants, a sunset lounge and a 125 meters swimming pool.