Dubai Property Market Update - Dubai Properties

The Dubai real estate sector and the UAE have experienced progress during the last few years, and we have seen this continue to 2014. The industry has developed in terms of best practice, regulations and laws to protect investors and developers. Improvements on the mortgage regulations have made a positive contribution to ensuring a controlled and sustainable market growth.
      
The latest industry reports have seen a gradual pace in price growth, which means that these developments are effective and have positively impacted the market behaviour.

From the perspective of Dubai Properties, the market has been in a favorable position and strategies have allowed them to experience sustainable growth across their portfolio in 2014.

They have seen strong demand from investors for the new residential project, Dubai Wharf, that was launched at Cityscape. In addition, other Dubai Property developments have sold-out and prompted the release of further units such as in Mudon and Remraam. 

They believe that 2014 will be remembered as a successful year for the real estate market, and for Dubai Properties in particular. Their strong sales has been a clear indication of the positive market conditions, and successful strategy to develop practical, high quality, and sustainable projects in every segment and area of Dubai that offer essential amenities and facilities to enrich the lives of residents and end users.

Dubai Property has already made over 36,000 residential units, 2.8 million sq. ft. of office space and over 1.2 million sq. ft. of retail space across key areas of Dubai. The main projects we have launched in 2014 include: Mudon, Remraam, Manazel AlKhor, and Dubai Wharf, some of which experienced successes.

Dubai Properties will continue to develop a growing portfolio of retail, commercial, residential, hospitality and mixed-use projects, and they have a strong pipeline of projects across all sectors that are tailored to meet the needs of real estate investors in the region. They will continue to align their business with the current market demand by launching new projects that provide strong investment opportunities.

Collectively, the real estate in Dubai is continuously experiencing strong growth with investors looking for ‘value for money’ projects across the city with completed infrastructure, accessibility and quality building and finishing. Our projects will continue to meet this market demand in line with Dubai’s growth across the residential, commercial & retail sectors while continuing with the strategy to develop projects in prime locations of Dubai.

Winning the Expo 2020 presents a huge opportunity for Dubai real estate industry, and as a leading developer with a wide range of projects in every segment and area of Dubai, we are well placed to capitalize on the increasing requirements which this will bring. 

Going forwards, we plan to launch more projects that cater to the increasing population expected in Dubai over the coming years, from affordable apartments to villas and townhouses and high-end luxury accommodation across key areas of Dubai.

Source: Roots Land Real Estate

The Future Of Dubai Retail Market - JLL

The retail market in Dubai began modestly in the 1990s with Burjuman, Al Ghurair Centre and Deira City Centre being the prominent malls. From that time the retail market has progressed significantly; and today Dubai is home to some of the world’s best malls such as Dubai Mall and Mall of the Emirates and other impressive developments to make what we call Dubai today.

It has been a long journey from the souks of old Dubai to international standard super regional malls, and the way this transition has been managed has brought Dubai into the spotlight of retail development globally. Today, Dubai’s retail landscape is undergoing another transition, this time from standard malls to more innovative and creative retail developments that aim to encapsulate the entertainment, leisure, shopping, and gastronomic experiences. Some examples of these more innovative retail concepts are The Beach by Meraas, and the recently announced Mall of the World and Dubai Canal developments. The extension strategy for Citywalk is another example, where trendy box retail, the first of its kind in Dubai, is under construction.

Existing retail developments are witnessing this evolution and many have chosen to upgrade their malls to meet the coming competitive challenges. Burjuman Centre and Wafi Mall are repositioning while Mall of the Emirates, Dubai Mall and Ibn Battuta Mall has expansion strategies in place to accommodate the increasing and evolving retail demand.

This change is not just limited to mega retail projects but can also be seen with community sized retail popping up in proximity to major residential communities to provide consumers with shopping ease, a sense of community and quick access to goods that serve their everyday needs. The Mall in Jumeirah is a perfect example of an upcoming upscale community centre that is aiming to fill this gap in the market.

As developers gain insight into the consumer mind they understand that providing the right experience in terms of the five senses, customer service, ambience and decor are just as crucial for customers as the accessibility, parking, location and tenant mix.

Developers will also be forced to distinguish themselves and add character to their retail projects to create their own place in the market.  They need to attract tourists worldwide and increase retail spend. 

The government of UAE works to promote UAE’s image as a stimulating destination globally by providing enriching experiences, including the impressive display of fireworks every year at Burj Khalifa on New Year’s Eve, the hosting of Expo 2020 and Formula One. Dubai has also uniquely succeeded in bringing a piece of every country into its own city through Global Village, which displays merchandise from around the world, creating a one stop shop for tourists to see and purchase a variety of international products in one place. Additionally attractive sales such as the Dubai Shopping Festival and Dubai Summer Surprises occur annually to further attract retail spend from around the world, especially from other Middle Eastern countries.

JLL’s interaction with prominent regional real estate clients has given us insight into initiatives they are taking to be on the forefront of innovation. In this new age where consumers hold the power and where change is the only constant, we expect to see in the real estate in Dubai aiming to further outdo itself and competitively execute projects that thrill and excite.

Source: Roots Land Real Estate

Buy Property in Dubai

For the global investors, Dubai has become the hottest place to invest in. Dubai is a land of promise with its Amazing developments and projects that have captured the attention of the investor world wide. To give impetus to this already building excitement was the implication of the May 2002 law that facilitated the Dubai property by foreigners.

There is approximately $901 billion that has been invested in the property of Dubai some of which are complete while others which are in its developing stages. With this kind of massive investments, the Dubai real estate market is beckoning investors far and wide. Dubai is the investor’s paradise, here the investors are spoilt for choice, and Dubai offers the ideal environment to buy property. Here you can╚ invest in towering buildings to beach villas to restaurants, you name it and you have it. Such is the lure of Dubai that it has attracted several star celebrities such as the soccer star David Beckham and his posh wife Victoria and also the likes of Rod Stewart and Michael Jackson.

It is untrue that only elite class can buy property in Dubai. In fact there are locals of the emirates who are increasingly buying property instead of paying exorbitant rent to the landlords. Due to the rise in real estate inves◘tment there has been a major increase in the number of real estate agents and dealers who are having a flourishing business.

In Dubai the mortgage market is still in its nascent stages, but there are other schemes of payments available that aid property buyers in Dubai. The city is pulsating with the kind of energy that its real estate market is hav♀ing. If you invest in the real estate market you are guaranteed to emerge as a winner. You may either choose to sell your property or rent it, no matter what you choose high returns areΘ on the card. You can also buy a holiday home in Dubai for there is no other place in the world where you can get the kind of luxury that Dubai offers.

The rent in Dubai is steadily increasing, but this shouldn’t be taken as the norm, as very little of the property has actually been developed others are still in their development stage. While Dubai is witnessing a construction boom, the boom is skewed, █it pays more attention towards the development of villas and luxury resorts leaving out the home for poorer section and the labor class.

Another problem that is common is the bad traffic conditions that prevail here. But hopefully with the development of monorail much of the pain will be eased.

U.A.E. Recession i Architecture

In contempo years, architects descended aloft Dubai, acquisitive to capitalize on its feverish architectonics boom. But while the Persian Gulf city's sprawling skyline is still dotted with cranes, the bazaar actuality has fizzled.

As of aboriginal February, more than half of Dubai real estate projects were stopped or canceled, from the 3,281-foot-tall Nakheel Tower advised by Woods Bagot to the Hydropolis, a 220-suite underwater auberge envisioned by artist Joachim Hauser. Analysts say that Dubai Property values, in total, will abatement up to 60 percent in 2009 afterwards years of almanac growth. Given this desperate about-face of events, architects are getting afflicted to amend their affairs in the region.

"Everyone is demography a absolute wait-and-see approach," says Wayde Tardif, an American artist who in 2007 co-founded POSIT Studio in Dubai. Tardif charcoal optimistic, acquainted that the arrest will adapt the bazaar and acquiesce architects to bolt their breath. He predicts a backlash in 16 to 18 months; he doesn't apprehend a alone city-limits abounding of alone towers. "Dubai has too abundant pride for that," he says.

In the accomplished decade, Dubai, amid in the United Arab Emirates (UAE), has boarded on ever-grander projects at alarming acceleration in hopes of acceptable a above apple metropolis. Today, its abridgement relies on tourism, absolute estate, and banking services; oil revenues accord beneath than 10 percent to its GDP.

Initially some anticipation the arid boomtown could brim the all-around banking crisis. By October, however, adopted investors were vanishing, bounded lenders were retrenching, and oil prices were demography a dive. In contempo months, The National, a UAE bi-weekly for expatriates, has been brindled with letters of accumulation layoffs. "There are abounding instances of adviser firms abbreviation agents by added than 50 percent, or closing their Dubai appointment altogether," says Scott Hyndman, a development administrator at a Dubai-based acreage company. Some belief affirmation that hundreds, if not thousands, of cars sit alone at the Dubai airport, apparently larboard there by foreigners beat the country.

While captivation acceptance in Dubai, abounding architectonics firms are alive their focus 70 afar to the southwest, to oil-rich Abu Dhabi. The basic of the UAE, Abu Dhabi has acquired gradually over the decades and generally is admired as a added livable—and added stable— burghal center. "Where Dubai has been a abstract market, I anticipate Abu Dhabi is a abundant added serious, play-by-the-rules market," addendum Steven Miller, FAIA, managing administrator of FXFOWLE's Dubai office. His close is actively advancing plan in Abu Dhabi, area above developments such as Saadiyat Island—a $27 billion multi-use activity with barrio by Jean Nouvel, Zaha Hadid, and Frank Gehry—are reportedly still on schedule.

Guy Source, a UAE-based application recruiter for the architectonics industry, agrees that Abu Dhabi seems beneath afflicted by the banking crisis than Dubai. He adds that added Middle Eastern markets authority affiance as well, acquainted that there are jobs cat-and-mouse to be abounding in Qatar, Kuwait, and Saudia Arabia.

Dubai Property

The Dubai Property market has never been stronger than it is at this moment and foreign investors are flocking to the shores of the Dubai to take advantage of the real estate boom. Fast development has characterized the cities and sandy beaches or desserts have been forced to give way to skyscrapers, artificial lakes and massive retail spaces. What’s more, the local government encourages this growth by maintaining a no personal, sales or corporate taxes policy. Such steps have had a incredible impact on foreign investment and have allowed for a number of mega-projects to be staged in this glorious city. What’s more, Dubai’s rapid development has not resulted in city slums, poor building and a strained infrastructure. The economy has benefited in ways never before imagined from such mass investing and the standards of living here are higher than in most other parts of the world. It is facts like these - combined with the striking beauty of the ever-expanding facade of the city - that has earned the city the nickname Pearl of the Gulf.

In a geographical region with a reputation for political instability, Dubai has separated itself from issues that affect surrounding emirates and has instead established itself as a holiday home haven, a regional hub for finance and trade, a notable tourism destination and even a center for technology. All these factors continue to influence the ever-growing property market and as a result, the market is set to continue to prosper for at least the next decade. What’s more, the government has recognized the positive impact of foreign investment on the local market and is taking steps to get rid of protective property laws so that this investment can continue to take place with less hassle. While certain aspects of property ownership and residency rights for foreign investors still need to be firmly established, the liberal attitude towards property laws in Dubai not only encourage investment but, in some cases, serve to be most profitable for the investors.

The immense growth and rate of investment can perhaps be best seen in several of the mega-projects, which have put Dubai on the architectural map. These include The World Dubai, the Palm Jumeirah, the Dubai Marina and a number of Arabian Ranches. The World is an impressive cluster of some 300 private, man-made islands. The islands are shaped into the various continents of the world and are surrounded by a breakwater. The total collection of islands covers an area of roughly 9 kilometers in length and 6 kilometers in width. Reachable only by marine or air transport, the World offers an opportunity for investors to own their own little island picturesque and private. Investors are already clamoring to gain their hands on one of these islands even though the project is not yet complete.

The Palm Jumeirah is similar in that it is an artificial landmass that stretches out into the sea. It is shaped like a palm tree and is one of a set of three mega-projects, which line the coast of the city. Unlike The World, the Palm Jumeirah serves as an island resort not a residential area. The other two islands are under construction and will be completed soon. The Dubai Marina is also entirely man-made and is set to become the largest man-made marina in the world. The Marina has been created as a sort of city in a city where people can all the exclusive comforts of living in a world-class city. Upon completion it will have more than 200 high-rise buildings and cover an area of 50 million square feet. If the idea of living on the shores of this mega city does not appeal to you, then you may wish to turn your attention inland. The Arabian Ranches are set in the midst of a fast-changing dessert, just a few minutes outside of Dubai. A great place to relax and get away from the pace of the city, the Arabian Ranches feature an impressive golf club, an equestrian center, a polo club, a village center and an English-speaking school to mention just a few.

As foreign and local investors continue to empower developers in this fast-changing country, Dubai continues to maintain its place as a property haven. Desserts are being converted to oases and sandy dunes to mega resort complexes or sparkling marinas. Dubai is truly a testament to the ingenuity of man and the desire to see ourselves living in a picture-perfect world. Get your little piece of paradise now by investing in the Dubai property market.