Softening in the Dubai property market is not currently a major concern for Nakheel, according to Yousuf Kazim, Senior GM, Jumeirah Park. Kazim looks at Nakheel's latest development, and whether the problem of lengthy delays in delivery times of previous projects will be repeated this time.
The GCC and Indian property markets have very different dynamics, though both hold considerable potential for investors. Ghanfazar Sadiq Ali, CEO, Signature Group, compares the two.
Cheaper commercial real estate is on the way in Dubai, with current sky-high prices driving businesses away. Faisal Ali Moosa, Managing Partner, High Rise Real Estate, says a new back office concept will be delivered to the market, at well below current Dh300/sq ft rates in premium locations.
Qatar is a younger property market than Dubai, but is taking a very different direction, according to Arron Browne, Sales & Marketing Manager, Arron Property Investment. Browne looks at real estate in Doha, as well as Qatar's property laws.
Abu Dhabi's booming property sector has led to a second Cityscape exhibition being organised in the UAE. Cityscape Abu Dhabi, 8-10 May 2007, will complement the exisiting Dubai exhibition. Property experts and organisers take a look at how Abu Dhabi is developing its property market.
Kuwait is investing billions in its infrastructure and plans to create a property market appealing to overseas investors, similar to those in southern Gulf states. Adnan Al Musallam, Chairman, Investment Dar Kuwait says Kuwait has always been the gateway to Iraq and Iran, and will greatly benefit when these countries stabilise.
With impending EU membership, Bulgaria is emerging as an attractive location for international property buyers. Robert Jenkin, MD, Bulgarian Dreams, reveals Bulgaria's advantages and attractions.
Nakheel is confident that it will be able to sell the remaining 70 per cent of The World project, according to Manal Shaheen, General Manager, Nakheel. Shaheen says Nakheel's current focus is The Palm Jumeirah, set to open by the end of 2006.
With investor interest in Islamic products booming in parallel with the regional property market, banks are experiencing a huge increase in demand for Islamic real estate financing. Mohaned Abdullah, Director, Islamic Conferences Group, says there is a need for new product development.
The Dubai real estate market has not yet reached a state of oversupply versus waning demand, and is unlikely to in the short to medium term, according to Hassan Jarrar, Senior VP, Abu Dhabi Commercial Bank. Jarrar says it is impossible to weed out speculation, but Dubai is likely to be a place of long-term investment.
Soaring Dubai property prices are a concern, but with plenty of real money around the market is not over speculative, according to Fadi Ghosaini, Head of Business Development, Dubai International Financial Exchange. DIFX aims to help the local real estate sector with a range of products new to the region such as investment trusts, securitised products and sukuks.
Now five years old, Dubai Internet City is planning to expand at home and overseas, with a shift to high-rise buildings to accommodate the continued demand for space in the free zone. Jamal Abdul Salam, Executive Director, says despite the demand, DIC plans to keep rent at a reasonable rate.
With US$4 billion worth of projects announced in the Middle East every week, regional and international companies need an efficient way to find out about upcoming tenders. MEED Projects has an online database helping subscribers become first to market, as Ayman Razek, General Manager, explains.
Investors looking beyond the Gulf can buy property in Alsunut's $4 billion Almogran development in Khartoum, where full freehold is available to foreigners. Osama Daoud Abdellatif, Chairman, DAL Group, explains the advantages of Sudan.
The Qatari property market represents a very different offer from the Dubai one, according to Nick Bashkiroff, Development Director, The Pearl-Qatar, due to its gas-based economy, as opposed to Dubai's serviced-based economy. Investors in tower blocks at the Pearl have already seen 20-30 per cent increases in the value of their plots.