2004
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USD200m Jeddah realty project
Jowharat Al Babtain Holding Group has started the collective partnership phase for its USD200m Jowharah real estate project in Jeddah which covers an area of 3m sqft and will include business towers, a mega mall, hotel towers and exclusive residential units, plus a separate commercial and business area around the exterior perimeter of the site.
Nakheel's 6,000 Jumeirah villas
Nakheel has launched Jumeirah Village, a new project of more than 6,000 spaciously constructed villas and townhouses set amidst luscious landscaping just off Sheikh Zayed Road, adjacent to Jumeirah Islands, Nakheel's signature inland waterfront development and in close proximity to its other iconic developments such as the Palm Jumeirah and Palm Jebel Ali.
Emaar, Old Town sales open
Emaar Properties has launched The Old Town, a traditionally designed community in the Burj Dubai District which offers a pedestrianised lifestyle development with spectacular views of Burj Dubai and The Dubai Mall. Construction has already begun and the first apartments will be ready for handover by the end of 2006. Sales are now open for one-room to four-room apartments and penthouses ranging from 725 sqft to 3,150 sqft.
Palladium tower at JLT
The Palladium tower from ETA Star Property Developers has been launched at the Jumeirah Lake Towers opposite the Dubai Marina. Home loans for the freehold apartments in this high-rise development are available from Mashreqbank. Visit, www.etastarproperties.com.
Dubai Old Town coming tomorrow
Emaar Properties is set to launch The Old Town in the new Downtown district around the Burj Dubai tomorrow. This is the final element of the Burj Dubai complex which comprises the world's tallest building, biggest shopping mall and a complementary Downtown residential district.
Burj Dubai, up to 950m tall
Dubai Crown Prince General Sheikh Mohammed bin Rashid Al Maktoum yesterday witnessed the pouring of the first cement for the Burj Dubai, which will be the tallest building in the world. Officials said the height was presently 800m but could be raised to 950m. Completion is scheduled for three years, said His Highness, who noted considerable investor interest.
USD2.5bn Burj Dubai complex
Emaar Properties will invest around USD2.5bn in the Burj Dubai skyscraper, shopping mall and Heritage City, said Chairman Mohammed Ali Alabbar yesterday. He said feasibility studies pointed to a 15 per cent return on the total investment with around half the project set to be marketed locally and half internationally.
Westside, Dubai Marina, 40pc sold
More than 40 per cent of the exclusive Westside residential apartments located at Dubai Marina are now sold. Tulip Business Developers said 22 luxury apartments have been bought within the first two months. The USD23m project is well underway with completion scheduled for late summer 2005.
Dubai is the new Monaco
Emaar Properties is presenting Dubai Marina at the Monaco Yacht Show this week as observers increasingly see Dubai as the new Monaco, that is a tax-free haven for wealthy residents in an ultra-modern environment. More than 1,000 families already live in the Dubai Marina and up to 40,000 residents will live in high-rise towers in the district within a few years.
Emaar's top Arabian Ranches villas
Emaar Properties has launched Terra Nova its upmarket development of 119 large villas at the Arabian Ranches golf course, 15 minutes from downtown Dubai. The two-storey luxury villas range from 3,480 to 6,866 sqft and benefit from proximity to The Desert Course.
Jumeirah Islands sold-out
Nakheel has reported that all 736 villas in its Jumeirah Islands project have been sold. Chairman Sultan Ahmad bin Sulayem said the response had been enormous. Construction of the villas clustered in 46 artifical islands surrounded by lakes is now well advanced.
UK celebrity designer in UAE
UK celebrity interior designer Laurence Llewelyn-Bowen is hosting the Emirates Home Show in Dubai from 16-19 September. Well known for his TV appearances on the BBC programme Changing Rooms, he is delivering a series of lectures and workshops in the Jumeirah Beach Hotel Conference Centre.
New Dubai property website
Dubai Property Centre has launched the Dubai's first real estate and lifestyle portal, www.dubaipropertycentre.com. The portal provides visitors with access to hundreds of freehold Dubai homes at the click of a button, as well as hundreds of home and lifestyle related products and services.
Nakheel sells 10pc of The World
Nakheel has announced that it has sold around 10 per cent of The World, an archipelago of 300 man-made islands off the coast of Dubai which form a map of the world. The developer is on a marketing tour of France and will be in Monaco this week. Prices for islands range from USD6.3m to USD36.8m.
Emaar launches Golf Towers
Emaar Properties has launched its Golf Towers, two high-rise residential project overlooking the Emirates Golf Club. The towers are scheduled for completion in mid-2007 and offer one, two and three bedroom apartments. Emaar reports an overwhelming response to its three project launches this month.
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