2004
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AD, USD270m rebuilding tenders
The Abu Dhabi Government is tendering 50 residential and commercial projects valued at USD270m, all of them to replace existing buildings, reported Gulf News. For next year this budget allocation is set to double to USD540m for 100 projects, said officials.
The Pearl-Qatar appoints architect
The Pearl-Qatar, the USD2.5bn man-made island being built offshore the Qatari capital, Doha, has appointed Seattle-headquartered Callison Architecture. The firm is currently providing design and construction services for the 21, 20-storey towers comprised of 3,116 apartments that overlook 410 town houses and 550,000 sqft of high-end retail with parking structures.
Madina Tower, official launch
The upmarket Madina Tower at Jumeirah Lake Towers in Dubai was officially launched today with five per cent initial down payments on one to three bedroom apartments costing from USD172,000. Agents for the property are Sherwoods of Dubai.
Dubai Downtown, new release
The next release of property in the Dubai Downtown is scheduled for tomorrow. The Reehan Quarter is the latest section of the Downtown which is a new district surrounding the Burj Dubai, the world's tallest building, and Dubai Mall, the largest shopping mall in the world.
Nakheel, Falcon Tower on sale
Nakheel has released 208 apartments at the Falcon Tower Jumeirah Lake Towers for sale from today. The 40-storey building will be one of 78 high-rise buildings in the district. The tower has a three-storey underground car park for up to 400 cars.
Five dead, Dubai airport site
Five workers were killed yesterday, and 12 injured, in an accident on the site of the new USD4bn Dubai International Airport terminal three, reported Gulf News. Civil Aviation President Sheikh Ahmed bin Saeed Al Maktoum promised a full investigation into the tragedy.
ETA Star launches UAE projects
ETA Star, the property development arm of The ETA-Ascon Group, has launched two major freehold residential property projects in the UAE. The Palladium and Belvedere projects herald the arrival of ETA which is involved in conceiving, developing and marketing free hold residential and commercial properties.
Emaar, new Dubai Marina tower
Emaar Properties has launched sales of exclusive apartments at Anbar, a waterfront tower at the Dubai Marina. The 19-storey Anbar tower has a selection of luxury two to five bedroom apartments ranging from 1,350 sqft to 6,350 sqft to be ready by early 2005. Sales will be conducted at the Dubai Marina Sales Centre.
Tamweel, pre-approved home loans
Tamweel has announced pre-approved home finance so that you have a mortgage arranged before finding your new home in Dubai. Approvals are promised in less than five days, and fixed and variable interest rates are available on mortgages of up to 25 years.
UAE freehold law coming soon
A new legal framework to allow non-nationals to own freehold property is expected soon, Amlak Finance CEO Mohammed Ali Al Hashimi told a conference organised by the Indian Business and Professional Council yesterday. He said this is the reason why expatriates are rushing to buy freehold property in Dubai.
Nakheel rebuilds The Lost City
Nakheel has launched The Lost City today. This imaginative real estate project in Jebel Ali recreates a series of old lost cities from different parts of the ancient world in the form of villas, town houses and apartments. Nakheel sent its engineers to several archaeological sites to study the styles, street plans, layouts and materials used in construction of those ancient villages and houses.
7,000 villas sold in 24 hours
Last week saw the sale of 7,000 upmarket villas in the Jumeirah Village by Nakheel in 24 hours, a new record for Dubai realty. The project is adjacent to the Emirates Hills district. So overwhelming was the demand for the 6,000 villas in phase one that the 1,000 in phase two were released on the same day.
Saba residences 75pc sold
Saba Twin Towers has sold 75 per cent of its apartments, and the Saba Office Tower is 95 per cent sold. The USD155m projects in the Jumeirah Lake Towers district also have a lively re-sale market, said the developers Saba Group which plans to invest another similar amount in Dubai real estate over the next two years.
Arabian Ranches, exclusive villas
Emaar Properties has launched Al Mahra, a unique golf community offering 10 different villa types in traditional Arabic architecture on The Desert Course at the Arabian Ranches. The 44-acre exclusive development comprises two-storey, single-family detached, four to seven bedroom villas ranging from 3,500 sqft to 6,800 sqft. The project will be completed early 2007.
Dubai Design Centre tenders
There will be a call for tenders for the Dubai Design Centre, a 5m sqft interior design centre at Nakheel's International City project, within a few weeks, reported Gulf News. Officials said more than a 1,000 applications for space had been received from potential tenants. Phase one will be completed in 2006.
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