2005
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Dubai Business Bay on sale
Dubai Properties is set to launch the first phase of its huge new Business Bay free zone project which extends from the Dubai Creek to the Sheikh Zayed Road. For more details on how to reserve a part of this historic scheme email: info@dubai-properties.ae
Construction accidents up 61pc
Construction site accidents in Dubai have increased 61 per cent, with 149 recorded in 2004 compared to 92 in 2003, according to municipal sources quoted in Gulf News. Increased building activity, less qualified workers on projects and the rush to meet contract deadlines are some reasons given for the increase. New safety regulations are expected to be introduced in 2004, they added.
Kuwait builds Business Town
Construction of the USD248m Kuwait Business Town over more than 117,000 sqft of prime downtown real estate in the emirate is to begin in two months, reported Gulf News. With nine office towers, shopping malls and a luxury hotel, the development is designed as a smaller version of Dubai and Qatar's business districts.
AD Central Market redevelopment
The Central Market in Abu Dhabi is to close on March 1 for redevelopment, and shop owners should register their ownership documents immediately with Addar Real Estate Services. The 500,000 sqft new souk will be a showpiece project and existing owners will be granted ownership of a new shop unit on similar terms after the redevelopment is completed. There is also compensation for the redevelopment period.
Dubai property investment seminar
Knowledge Management in association with Nakheel Executive Director Wahid Atalla is holding a free seminar entitled How to Successfully Invest in Dubai Property on January 4 from 6.30-8.30pm in the Al Rostamani Building in Deira. For registration visit, www.km-i.org
Jumeirah Properties, 2nd JLT tower
Jumeirah Properties is set to launch its second tower at the Jumeirah Lake Towers, after the success of the USD55m Indigo Tower launched last October. The 35-storey second tower will be launched early this year with WS Atkins again retained as design and project consultancy.
Dubai property deals double
Dubai property deals doubled in 2004 to USD3.2bn, reported the Dubai Lands and Properties Department. The department recorded the sale of more than 660m sqft of undeveloped land and 2,761 sales transactions. Mirdiff was No1 with 262 deals while the Dubai International Financial Centre was the highest-ever per square foot value at USD1,635.
Buy England in Dubai
Al Attar Properties is marketing properties in the England community in the Dubai International City development outside Dubai. One bedroom apartments are available from USD92,650 and studios from USD65,400 with deposits from 10 per cent. Visit, www.alattargroup.com.
Tenants rights in Dubai
UAE nationals and Arabs may find themselves denied tenancies in Dubai due to their nationality, reported a Gulf News investigation. The paper highlighted the lack of tenancy rights, although it conceded that landlords have a perfect right to choose who they allow to rent their property.
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