2003
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60-storey Sheikh Zayed Road tower
Humaid Bin Drai and Asteco Property Management have unveiled Park Place, a 60-storey tower on Dubai's Sheikh Zayed Road shaped like a perfume bottle much prized by the owner. There will be 15 floors of offices and 45 apartment floors. This will be a smart building with louvred terraces that can be used year round.
Pacific Office Tower, special finance
The Pacific Office Tower, the 32Group's upcoming freehold office development in Dubai, is offering easy financing to office buyers. The developer offers 40 per cent over 18 months, and 60 per cent over seven years. Keys will be ready by December 2005. For more details visit, www.32group.com.
DIFC, world's largest car park
The new Dubai International Financial Centre will have the world's largest car park with 34,000 spaces in a four-storey podium. Officials said the aim was to make the DIFC the most convenient financial centre in the world. More than 20,000 people are expected to be working in the 1.2m square metre DIFC mixed-use complex when it is completed in 2010.
Emirates Mall, major leasing
The Landmark Group has announced today that it is to take 140,000 square feet of shopping space in Mall of the Emirates, the Majid Al Futtaim shopping, leisure and entertainment development on Sheikh Zayed Road for its retail brands Home Centre, Splash, Shoe Mart, Lifestyle and Baby Shop. Another major retail group, Broadway Trading, also recently announced it was leasing more than 152,000 square feet.
London Property Show in Dubai
The London Property Show will open from 11am to 8pm at the new Mina A'Salam Hotel at the Madinat Jumeirah on September 16-17. One-bed flats in south-east London start at USD253,000, including parking. The show is organised by Minc Property Enterprises, visit www.mincproperty.com.
Emaar to open Greens town centre
Emaar Properties is set to open a community shopping centre at The Greens, an apartment development next to the Emirates Golf Club. The 20,000 square feet centre will include a Choithram supermarket, Internet cafe, video library, laundry, DigiPhoto and Gulf Optics.
Dubai real estate course
The Arab Centre for Administration and Professional Training has launched a property management course in Dubai at the Knowledge Village. The diploma course tackles six aspects of estate property management and there has been considerable demand from UAE nationals wanting to pursue this career.
Palm Island, 20pc auction premium
Palm Island properties have been sold at a 20 per cent premium at auction in London, reported Gulf News. Top auction house Allsop is to hold its first auction of 10-15 Palm Island properties at the Cafe Royale in London on December 15. Asteco is handling enquiries from owners in Dubai.
Parador opens Dubai office
Parador Properties has opened a regional office in Dubai, and will be marketing freehold properties in Europe, particularly Spain. Demand from expatriate and local investors has risen to a level that now justifies a regional presence, said a statement from the leading European real estate agency.
Better Homes, 100 Mirdiff villas
Leading Dubai real estate company Better Homes has more than 100 villas for rental in Mirdiff, and at other locations around the city. But rental properties in some locations are becoming hard to find. For further details log-on to www.bhnetwork.com.
Nakheel, IMF, World Bank showcase
Nakheel, developer of Palm Island, The World, Jumeirah Islands, The Gardens, The Gardens Shopping Mall, Jumeirah Lake Towers and Dubai International City is to showcase its portfolio to IMF and World Bank meeting attendees at a speicial trade show in the Dubai World Trade Centre complex later this month.
Asteco launches new website
Asteco, the UAE property management company, has revamped the company's website, www.astecoproperty.com for customer ease and convenience. Features include photos of properties, floor plans, prices, facilities, 360 degree views, and location maps.
DIB, mortgages for Lebanon
The Dubai Islamic Bank is to offer Islamic mortgages of up to 80 per cent of the value of property at the Matal Al Qamar residential project in Lebanon which the bank is also developing. Prices for units range from USD216,000 to USD685,000. There are 80 units from apartments to houses.
Index gains from Dubai realty boom
The Index trade fair for interior decoration will be bigger than ever this year thanks to the real estate boom in Dubai. The event runs from October 7-11 in the Dubai World Trade Centre complex. It will feature 1,200 stands ranging from furniture, flooring, wall coverings, lighting and accessories, to interior design.
Palm apartments selling out
Dubai Waterfront Properties says it has sold out all of its three-bed apartments with maid's room on The Palm Jumeirah. But the agent still has two-beds, three beds and garden villas for immediate sale with low premiums. For details visit, www.dubaiwaterfront.com.
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