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Luxury in the wilderness
Featuring high-end, multimillion-dollar villas in a botanical wilderness setting, the $1.8 billion Al Barari project is inspired by the ancient concept of the Kasbah. Zaal Mohammed Zaal, Chairman, Al Barari, says the development will form an enclosed city featuring residential, leisure, retail and commercial property.
Dubailand doubts addressed
Is Dubailand an over-ambitious project? Is its projected success based on reliable market data? And how can Dubailand be successfully branded given the wide-ranging scope of projects it contains? Salem bin Dasmal, CEO, Dubailand, answers these questions and more.
Premium commercial investment
Credo Investments has sold over 90 per cent of Le Solarium, the UAE's first leasehold premium commercial property investment. Ali Reza Mohammed Ali, Managing Director, Credo, says there is a gap in the market for high end commercial real estate, and the company will be announcing more projects in the near future.
Heading into the blue
Oman's Blue City will pioneer marine environmental practices, addressing the hydrodynamic of the ocean, how the coast will be looked after, and how water will be used and reused. Ahmed Abubaker Janahi, Vice Chairman, ASIT, says Bahraini participation in Blue City represents positivie synergies between Bahrain and the Sultanate.
Blue City, golden opportunity
Oman's US$15bn Blue City project will be the first opportunity for foreigners to buy freehold property in the Sultanate. Blue City, which will take fifteen years to complete, includes tourism, education, healthcare, residential and sports facilities.
Time for timeshares
Timeshare companies have identified a huge opportunity to develop their business in the Middle East, with a focus on the upper end of the tourism market. But David Clifton, MD, Interval International EMEA, says that sound, fundamental regulation is needed for success to protect consumers and allow timeshare business to grow.
Life by the lagoon
Ras Al Khaimah's Al Hamra Village development features villas, townhouses and apartments around a natural lagoon, with leisure facilities such as sports clubs and a marina. Omar Obeid, Business Development Manager, Al Hamra Village, says RAK has actually offered freehold property to expatriates for the past three decades.
Real estate portals expand
Dubai-based property software developer Amlaki recently won the support of Dubai E-Government for its website project for Dubai Property Group. Mohamed Mahfooz, CEO, Amlaki, says Amlaki has also signed with a several major developers and government departments, and has plans to expand regionwide.
Thai property enjoys interest
Investor interest in Thai property remains strong, despite the devastation caused by the tsunami. Tom Travers, Director, Indigo Real Estate, says only a small area of Phuket was badly damaged, and multi-million dollar development deals signed earlier last year are still proceeding.
Billion-dollar Bay
Newly-established Dubai Properties has several major developments in its portfolio, including Jumeirah Beach Residence and Business Bay. Mohamed Binbrek, COO, Estithmaar Realty, explains how the multi-billion dollar Bay aims to attract companies to set up not just regional offices in Dubai, but their actual international headquarters.
Pearl rising from the ocean
The Pearl-Qatar land reclamation project is rising rapidly out of the shallow seas around Qatar, on its way to becoming the Riviera of Arabia. Khalil Sholy, MD, UDC, looks at the significance of the development as the beginning of Qatar's freehold property market.
E-shopping for property
Thousands of real estate companies and prospective buyers are using a dedicated website built by Dubai Property Group and software specialist Amlaki. Jean-Paul Tarud-Kuborn, marketing manager of Amlaki, explains the technology behind the online marketplace.
Building the property sector
As interest grows in Dubai's rapidly developing property market, Dubai Property Group has been set up as an industry-neutral body for the sector. Executive Director Adel Lootah explains how DPG helps members network and address critical real estate issues.
Property speculation warning
Too much speculation in the nascent Dubai property market could be damaging and more controls are needed, according Wahid Atallah, Executive Director, Nakheel. Atallah took questions at a recent Dubai Property Group seminar, addressing concerns over freehold laws and quality of contstruction.
To buy or not to buy?
The nascent Gulf property market has considerable growth potential, with demand still greatly outstripping supply, according to economist Ahmed Al Samerai. Rental returns are far more competitive in GCC cities than in western markets, such as London.
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