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Apartments with clear views of Burj Khalifa and Dubai Fountain now on sale

Emaar is offering an opportunity to snap up apartments in Downtown Dubai with unobstructed views of Burj Khalifa and Dubai Fountain.

The developer has put an unspecified number of 1, 2 and 3 bedroom units in its forthcoming Burj Royale development on sale.

Burj Royale has been designed as an extension of the Old Town neighbourhood with several hotels including Address Downtown, Vida Downtown and Manzil Downtown nearby. Residents can also step out onto Sheikh Mohammed bin Rashid Boulevard.

According to Emaar, “prices of premium apartments in Downtown Dubai are extremely competitive compared to similar developments in global cities.”

The estimated completion date is October 31, 2022. Buyers must pay ten regular instalments of 5%, with 50% due on completion.

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Prime Properties Are Holding Their Value In Dubai

Dubai’s prime properties are losing their value much more slowly than other segments of the city’s real estate market.

According to Knight Frank’s Prime Global Cities Index for Q2 2018, the average value of prime properties in Dubai fell just 0.8% year on year between June 2017 and 2018. Between March and June 2018, prices were down 0.6%.

Prime property is defined as the top 5% of the housing market in a city.

The small decline in prime values contrasts with big declines in the overall Dubai property market.

Asteco reported that average villa and apartment sale prices fell 4% percent between March and June 2018, and by 11% between June 2017 and 2018.

Forty-three cities were covered in the Q2 index and Dubai was one of 11 where prime values fell year on year. The greatest increases in prime values were seen in Guangzhou, Singapore and Madrid, which achieved double digit percentage growth over the 12 months. As a whole, however, the index recorded its weakest rate of annual growth since 2012 (2.6% overall).

“The introduction of new, and the strengthening of existing, property market regulations, along with the rising cost of finance and a degree of political uncertainty is resulting in more moderate price growth at the luxury end of the world’s top residential markets,” noted Kate Everett-Allen, the report’s author.

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Signature Is Looking For London Buyers For The 118 In Dubai

If you’re in London over the next week, you may be interested in this event focused on a new luxury Dubai property development.

Signature Developers has appointed Wetherell to market The 188, its luxury high-rise development in Downtown Dubai, at an event in Mayfair, London on May 9-10.

In contrast to previous offerings of Dubai real estate in London, which have mostly been off-plan, buyers can actually purchase and move into their units immediately. The 118 is being launched complete with finished residences and dressed show-units by international design houses Fendi and Roberto Cavalli.

The 118 is a USD 175 million, 44-storey residential tower skyscraper providing bespoke, full-floor, 4-6 bedroom residences, including two duplex penthouses. For the launch in Mayfair, residences on the fourteenth to 44th floors are being released for sale.

The 118 residences were designed by Sarah Hamid, project director at Hirsch Bedner Associates (HBA) which specialises in luxury hospitality, hotel and resort projects for brands including Raffles, Shangri-La, Ritz-Carlton and Four Seasons.

The multi-purpose club lounge at The 118 was designed by Shalini Misra, director of Shalini Misra Ltd (SML), the landscape architects are Cracknell and the lighting scheme was devised by Illuminate.

The 118 residences offer a choice of two styles; ‘Signature Classic’ or ‘Signature Contemporary’. Prices range from GBP 4.55 million to GBP 5.3 million for a lateral residence, with driver’s/staff room/quarters. The penthouses are priced at GBP 10.73 million and GBP 11.875 million.

Peter Wetherell, chief executive of Wetherell, expects an enthusiastic response from global citizens with a base in Mayfair.

“The subcontinental buyers in Mayfair typically have a home for banking and family education in London, a family home in the city and homes for business and leisure in either Dubai, Monaco, Manhattan or Los Angeles,” he said.

“They will spend anything from GBP 2 million to GBP 20 million on purchasing a home in Mayfair, with 70% buying an apartment or penthouse and the balance acquiring a mansion, townhouse or mews property. Providing value-on-investment, a world-class destination and a low tax environment, The 118 in Dubai is a logical choice for these multi-national residents.”

The Mayfair exhibition is being held on the 9th and 10th May 2018 (9am to 5pm daily) at the Four Seasons Hotel on Park Lane, London.

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Majid Al Futtaim Adds Eco-Friendly Swimming Beach To Tilal Al Ghaf

Majid Al Futtaim has signed an agreement with Chile-based Crystal Lagoons to develop the 70,000-square-metre Lagoon Al Ghaf at its new flagship mixed-use community in Dubai, Tilal Al Ghaf.

According to Majid Al Futtaim, Lagoon Al Ghaf will bring a slice of ‘tropical paradise’ to the Tilal Al Ghaf development and create a ‘premier setting’ for special events. It will feature more than 400 metres of beach and 1.5 kilometres of waterfront promenade and is expected to appeal to families as well as water sports enthusiasts.

“The centrepiece of Tilal Al Ghaf’s masterplan is shaped around active and passive spaces,” said Hawazen Esber, Chief Executive Officer – Communities at Majid Al Futtaim – Properties.

“The swimmable Crystal Lagoon adds a new dimension to community living standards, giving residents and visitors a genuine resort lifestyle experience. The vision is to create a shared space that everyone can use, where families can enjoy meaningful moments together, and where friends and neighbours can meet and relax in an engaging setting.”

Crystal Lagoons has developed a technology that makes water feature like Lagoon Al Ghaf easier and greener to maintain. It uses groundwater, which is actually rising within many of Dubai’s residential developments, to maintain water levels, reducing the amount drawn from the mains. The company says it now has more than 600 projects in 60 countries worldwide in different stages of development and negotiation.

“This is an eco-friendly and sustainable technology, setting a new standard for public space and leisure,” said Carlos Salas, Crystal Lagoons Regional Director Middle East and Asia. “We are able to transform any location into a beautiful beach paradise, and provide a unique amenity for the community to enjoy.”

Tilal Al Ghaf, launched in April, will cover around three million square metres at the intersection of Hessa Street and Sheikh Zayed Bin Hamdan Al Nahyan Street, near Dubai Sports City. It will be built in stages and will feature more than 6,500 freehold homes when finally complete around 2027.

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Aldar To Begin Handover Of West Yas Villas This Month

Aldar Properties will begin the handover of villas within its West Yas community this month.

New homes will be given to owners in phases, starting with 300 units, and the process will continue throughout the remainder of 2018.

Launched in September 2015, the AED 3.2 billion West Yas community consists of 1,014 four- and five-bedroom villas, ranging from 488 to 580 square metres in size. Located on Yas Island, residents have waterfront views, access to open and green spaces, and close proximity to Yas Mall and the island’s leisure facilities and beaches. As a non-gated community, there are no service fees payable by villa owners.

“We are proud to start the handover of West Yas to customers, which marks the expansion of the residential population on Yas Island and builds on the handover of apartment community Ansam earlier in the years,” aid Maan Farid Al-Awlaqi, Executive Director – Commercial, at Aldar Properties.

West Yas is a key component of Yas Island, offering a full range of community amenities for residents of all nationalities. The delivery of these prime villas reinforces our reputation for delivering high quality homes in desirable locations and we look forward to continuing Yas Island’s success story as Abu Dhabi’s most exciting destination.”

As part of the handover process, owners can incorporate a number of smart technologies, including lights and thermostats, fire alarm systems, security cameras, sensors and digital assistants. Gardens feature sweet soil, rather than sand, allowing owners to start grassing lawns and planting immediately.

As at the end of Q1 this year, West Yas was 80% sold, which equates to 801 villas, with a sales value of AED 3.66 billion. Homes are still available for purchase with prices starting from AED 4.8 million.

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USD 100 Million Court Tower On Track For October Finish

Saudi Arabia-based Tanmiyat Group says its USD 100 million The Court Tower in Dubai is on track for an October finish.

With views of Dubai Canal, The Court Tower will add 280,000 square feet of office space, 198 apartments and 28,000 square feet of retail space to Dubai’s residential and commercial mix. The project is currently around 83% sold.

“We are extremely pleased with the developments made on the project to date,” said Saleh Tabakh, spokesman of Tanmiyat’s management board. “At Tanmiyat Group, we have always been committed to offering impressive and outstanding facilities to our investors. To that end, we’ve been working closely with our contractor to deliver the project on time.”

“Once complete, The Court Tower will be our second successful project in Business Bay after delivering the Exchange Tower in 2016. The way the market is shaping, we look forward to investing in more emirates across the country,” he added.

Tanmiyat Group has other projects on the go in the UAE, including Living Legends at Dubailand, a gated community covering 14 million square feet and made up of 500 standalone villas, 12 apartments buildings, a 150 shop retail centre, 4-star hotel and boutique hotel.