2004
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DIP, Amlaki Net management
Dubai Investments Park will manage its real estate development online using software developed by Amlaki, a Dubai-based software solutions firm. The project extends to light and medium industry, office complexes, residential compounds, a hotel and conference centre.
Dubai realty website world's No1
Dubai property company Oryx Real Estate received the world's Best Real Estate Website at the Bentley Motors International Property Awards at a glittering ceremony held at The Royal Lancaster Hotel, London, in recognition of the outstanding quality of the Oryx Real Estate's Dubai property website, www.oryxrealestate.com.
MiNC, USD23m International City
Dubai-based MiNC Property Enterprises has purchased two buildings in the International City development, and will market a third, giving the company a stock of 235 apartments worth around USD23m. The apartments will be ready at the end of 2006 and will be marketed in the UK, South Africa and Pakistan. MiNC's units are expected to start at USD77,650 and include furniture and a rental guarantee.
UAE federal property law soon
The UAE will have a new federal property law within a year, Emaar Chairman Mohammed Ali Alabbar told Gulf News. He said at present there is no federal property law, so freehold can not be held to be illegal, but neither is it explicitly legal. Emaar already has a fair contract that promises a clear and unencumbered freehold title, he added.
Ewan phase two sold-out
Dubai's Lootah Real Estate has announced that the second phase of corporate residences in the Ewan Residential Project is sold-out, way before the date expected. The second phase of 27 buildings each with 12 apartments is for companies that want to own their staff accomodation, and is the first project of this type.
UAE to enforce cement prices
The price of cement is to be fixed in the UAE, and violators will be fined, officials from a government-commissioned committee told Gulf News. They noted that a previous Dhs11.50-17 price band had been ignored as brokers and distributors put prices up, and said this would not be allowed to happen again.
Big 5 show opens Saturday
The region's leading construction exhibition, the Big 5 2004, will open in Dubai on Saturday. More than 2,100 firms are taking part and organisers expect 30,000 visitors to attend the five-day event. Dignitaries from around the world are coming with representations from more than 50 countries.
Dubai realty prices sustainable
Dubai real estate prices are reasonable and sustainable, MD of the Richard Ellis and Hamptons JV Nick Jopling told Gulf News. He compared USD350 per sqft for apartments at the top of the Burj Dubai with USD3,000 for similar space in London and Hong Kong, and USD1,100 in Singapore.
Trident, third Dubai tower
Trident International Holdings is to launch its third freehold project in Dubai in Q1 next year for completion in 2007. Officials said a further residential tower would be added to its existing two developments in the Dubai Marina, The Waterfront and Marinascape, set for completion in late 2005 and 2006 respectively.
Domus, MEED, Dubai realty show
Domus Group and MEED are joining forces to present the Dubai Property Investment Show from February 1-3 next year. MEED will host a major conference on February 2-3, while Domus will organise the exhibition for which 70 international companies have already signed up.
Oman realty law, expats wait
Expatriate buyers are taking a wait-and-see approach to news that a new law will allow them to buy property in Oman, reported Gulf News. Cluttons GM Michael Lowes told the newspaper that the draft law should be finished by the end of the year but Oman is an ideal place for Europeans to look for a holiday home.
Amlak Finance, corporate loans
Amlak Finance, the Dubai Islamic mortgage company, has announced finance for corporate buyers of the Ewan Residences located in Dubai Investments Park. This will be up to 70 per cent of the value of the property to a maximum of Dhs10 million per customer over a maximum period of ten years.
Bahrain, Gulf Hotel apartments
Almoayyed Contracting has started groundworks on a USD12m serviced apartments building within Bahrain's Gulf Hotel, reported Bahrain Tribune. The 15-storey building will house 101 apartments, that will have one, two or three bedrooms.
Sahm, Dubai Marina smart homes
Sahm Technologies has claimed successful implementation of smart home technology at its Dubai Marina towers, and is now offering the technology to owners of the Meadows villas. A Systimax Solutions system controls 33,000 network points in the Dubai Marina towers.
JBR to exhibit at Mapic
The Jumeirah Beach Residence will be aggressively marketing itself at the Mapic property show in Cannes from November 17-19. The JBR is a complex of 36 residential towers with 6,500 apartments and four hotel towers on the last remaining stretch of Dubai's Jumeirah beach.
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