2003
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Asteco adds Malta properties
Asteco has added a wide range of properties in Malta by teaming up with Dhalia Real Estate, which has a network of over 80 property consultants and the largest property database on the islands. Malta is a favourite among holiday home seekers because of its strong leisure destination, Mediterranean climate and excellent transport links with the Emirates.
Upmarket real estate firm set up
A new real estate firm, FBI Property and Development, has entered the UAE market promising the unveiling of its first project within the month. The company aims at the 5 per cent top segment of the regional property market saying it will deal with clients who invest USD2.7m or more.
New post office for Musaffah
A new post office complex is planned to be built in Musaffah in Abu Dhabi. It will be constructed on the site of an existing building that will be demolished. Emirates Post has floated a tender inviting local contracting firms to bid for the project. Bids will be opened on October 21 at Emirates Post premises in Dubai.
Kerala commercial space for sale
NRI developers are offered prime commercial space on MG Road in Thiruvananthapuram in Kerala for outright sale whih can be conductd throug Dubai. Promoters say it is ideal for banks, offices, restaurants and shopping outlets. Retail and office space is on a ready-to-occupy basis. Special introductory prices are on offer.
Capricon Tower offices leased out
Offices at Capricon Tower on Sheikh Zayed Road in Dubai have been fully leased out before the construction has been completed, said property manager Asteco. The 43-floor property also offers 2,3 and 4 bedroom residential units with a separate entrance. It has a seven-floor car park at the rear of the building.
Iraqi architect for property meet
Prominent Iraqi architect, Dr. Mohammed Makiya, is expected to participate in the Iraq Reconstruction and Development Executive Update to be held on October 21 at Grand Hyatt Dubai during Cityscape 2003. Dr. Makiya is considered by some as one of the leading experts in modern Arab architecture.
Shopping centre for Mussafah
A 50,000 sqft shopping facility has come up in the Shabia Khalifa area of Mussafah developed by the Qatara Group. The Al Qatara Shopping Centre opened on October 11 to service the rapidly growing township of Mussafah. It houses all kinds of home-use items.
Embassy units bought in Tokyo
Emirates Real Estate Corp has bought two properties worth about USD4.75m in Tokyo. These will be used by diplomats working at the UAE embassy in Tokyo. Each residence is on about 217 sqm and have Arabic architecture. EREC designs and eecutes UAE government buildings.
Gargash to build Design House
Gargash Real Estate with LW Design Group, will complete by the first quarter of 2005, a proposed Design House in Tecom complex. It is being developed for architects, interior designers and associated sectors. An early bird discount of 20 per cent is offered on offices and retail units. It will have all modern ameneties including a swimming pool.
Green Community launch on Oct 19
Green Community Phase 1 at Dubai Investment Park will be launched on October 19. Better Homes will market it for Union Properties. The units range from Studio apartments to luxury villas and wil be completed b January. Prices range from about USD74,000-600,000. The properties are on a 90-year lease with attractive premium payment plan.
Kerala property on offer to NRIs
Kerala-based Heera Constructions is offering Indian expatriates apartments and independent villas in six developments in Trviandrum and Kochi. The villas range in size from 2,011-3,875 sqft, while the apartments range from 850-1,675 sqft. The company has an office in Dubai.
JBR, cheapest Dubai apartments
The Jumeirah Beach Resort development claims to be offering among the lowest priced apartments in Dubai at the moment. USD123,000 buys a 900 square feet one-bed apartment with annual rental expectations in the region of USD11,000. A spokeswoman said 85 per cent of the 6,500 apartments in the JBR community have been sold.
China Town goes International
Nakheel Properties has decided to transform its China Town development into the International City with different zones of the project reflecting various nations including China. Further details of this project close to the Dubai International Airport are awaited.
The Caves, another Dubai first
A Dubai real estate developer is finalising a scheme to create a hotel called The Caves near the city's satellite ground-station. The 300 cave complex would give tourists another unique experience in Dubai, and add to the range of accomodation options in the emirate.
Bangalore property on offer
Luxury units in a Mantri Homes' Bangalore development are being offered to Gulf NRIs at prices ranging from USD80,000-198,000 for built-up areas from 1,635-3,500 sqft. The carpet area is 84 per cent at the Koramangala development. Financ eis availale from ICICI Bank Home Loans and HDFC.
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