Abu Dhabi headquartered developer Bloom Properties selects Asteco to manage sales demand for high-end Stella Maris Tower community in heart of popular marina district

Asteco named exclusive sales agent for luxury Dubai Marina project

Abu Dhabi headquartered developer Bloom Properties selects Asteco to manage sales demand for high-end Stella Maris Tower community in heart of popular marina district  

Asteco, one of the region’s leading real estate consultancy and property management firms, has been appointed as the exclusive sales agent for the Stella Maris Tower in the popular Dubai Marina district.

Under development by Abu Dhabi based developer Bloom Properties, the luxury 52-storey residential tower will feature 313, one, two and three-bedroom apartments plus a select number of four-bed duplexes, townhouses and penthouses, with a scheduled completion date of end 2018.

The tower is located at the southern end of Dubai Marina with views of the upcoming leisure destination known as Bluewaters Island, which will be home to the world’s largest ferris wheel, the 201-metre high Dubai Eye.

Overlooking the Dubai Marina skyline and Arabian Gulf, facilities at the ultra-exclusive Stella Maris Tower will include 24/7 concierge services, a private clubhouse, swimming pools, world class spa, visitors parking, gymnasium, running track, lounge area,  and indoor and outdoor play areas for children.

“With groundbreaking projects in frontier markets such as Iraq and Algeria, the Dubai Marina project will put Bloom Properties firmly on the Dubai real estate map, with a community-centric development that epitomises the marina lifestyle,” said Sean McCauley, Director – Agency, Asteco Property Management.

“Units at the Stella Maris Tower are available on a three-year payment plan, which, combined with the highly desirable location, underscores an attractive pricing structure for investors to add to their current property portfolio or as a more manageable step onto the Dubai real estate ladder” he added.

“We identified Asteco as a trusted partner and market leader. The Stella Maris Tower is a landmark development for Bloom Properties, and an integral addition to our expanding global portfolio,” said Sameh Muhtadi, CEO Bloom Properties.

Prices for the apartments start from AED 1.2 million for a one-bedroom unit, AED 2.1 Million for two bedrooms and AED 3.8 million for a three-bedroom home, which range in size respectively from 700 to 2400 square feet.

The 12 four-bedroom duplexes start at AED 5.1 Million and offer expansive living and entertainment areas along with views of Bluewaters Island, Sheikh Zayed Road and Dubai Marina. A limited number of six townhouses starting at AED 4.8 million of 3130 square feet and two penthouse units.

Bloom Holding, a subsidiary of National Holding, is dedicated to developing sustainable and integrated communities. The Group is driven by its vision to go beyond the buyer and investors’ expectations through superior design and partnerships with best in class providers in education, hospitality, health care and property services, to meet the aspirations of new urban communities in their demand for a better lifestyle and quality of life. Bloom Holding has an established and growing portfolio of projects within the UAE, the MENA region, Europe and the United States

Asteco, a major regional and international real estate services firm and the largest property services company in the United Arab Emirates, was founded in Dubai in 1985.  Asteco offers independent market analysis, design development consultancy and valuation services, sales and leasing services, as well as asset and property management services.

Asteco appointed to sell out remaining DUKES Oceana apartments

Asteco appointed to sell out remaining DUKES Oceana apartments

 Initial launch phase of Best of British’ styled luxury development sells out; developer-backed guaranteed ROI of 10% attracting global investment interest as Asteco takes sole responsibility for remainder of unique Palm Jumeirah project 

Dubai-based luxury property developer Seven Tides has appointed leading regional real estate services firm, Asteco, as the sole agent for its newly launched DUKES Oceana, Dubai project.

Located on the Palm Jumeirah, this is the first international property for the DUKES Collection brand, whose flagship hotel DUKES London is a popular destination for GCC travelers. The high profile five-star hotel and adjacent residences are already built, only the interior fit-out remains, so the project is scheduled for handover in Q1 2016.

“Just one month after the launch of this development, 65% of the hotel apartments have been sold representing the completion of phase one. Just 35% of the studio and one-bedroom units remain, and we are confident that with Asteco’s network of contacts and unrivalled market expertise, we will secure the additional investors required to close-out the sales for this one-of-a-kind project,” said Abdulla bin Sulayem, CEO, Seven Tides.

Targeted at the regional and international investment community, Seven Tides is guaranteeing a return on investment (ROI) of 10% net per annum for the first five years, making the DUKES Oceana, Dubai venture a highly attractive proposition.

Hotel Apartment prices will remain the same, which range from AED 1.1 to AED 2.6 million for the 376-822-square feet studios, with one-bedroom units offering a spacious 832-882 square feet, starting at AED 2.3 million and rising to AED 2.7 million.

“Designed specifically for investment purposes and sold as fully furnished freehold hotel apartments, benefitting from a number of advantages, not least of which is the location on Palm Jumeirah, the city’s ultra-desirable lifestyle community. Add to that the quintessentially ‘Best of British’ positioning that the DUKES hospitality brand is renowned for, and this makes for a solid investment opportunity that has already resonated with international investors,” said John Stevens, Managing Director, Asteco.

Hotel guests of the apartments will also have full access to the DUKES Oceana, Dubai suite of leisure facilities and support services, including a stunning private beach, indoor pool, and outdoor infinity pool plus state-of-the-art gym, along with a number of restaurants and lounges showcasing signature British, Asian, international cuisine. Investors will also have full access to these facilities when utilising their hotel apartment for seven days per year.

“The calibre of investors choosing Dubai as a prime location for portfolio growth means that their expectations are extremely high when it comes to managing their investment, and with the DUKES operations team responsible for the day-to-day professional management of the apartments, they will have complete peace of mind,” noted Stevens.

Established in 2004, Seven Tides has developed its own portfolio of commercial, residential and resort properties in some of the world’s most desirable locations. Its award-winning flagship hotel, DUKES London, is situated in the fashionable Mayfair district and has been a hospitality icon in the capital for well over a century.

For more information about DUKES Oceana, please visit www.dukesoceana.com

About Seven Tides

Based in Dubai, the United Arab Emirates, privately owned Seven Tides is an internationally oriented holding company established in 2004. Currently focusing on hospitality and real estate sectors, Seven Tides thinks progressively, works creatively, partners strategically and acts quickly. The result is a current portfolio of offerings from landmark hospitality acquisitions and commercial buildings to residential towers and multi-use complexes in the gateway cities of London and Dubai.

For more information, please visit www.seventides.com

Asteco to consolidate business units in Rolex Tower

New corporate home for Asteco 

Real estate services market leader unites its six business units under one roof with move to Rolex Tower as Dubai-headquartered firm readies for launch of new licensing services division and gears up for 30^th anniversary

Asteco, the Middle East’s largest independent full service real estate company, has announced that it has a new corporate home in Dubai’s prestigious Rolex Tower, as the 30-year property leader consolidates its core business units in one dedicated location.

Established in Dubai in 1985, with a 30-year pedigree and high profile client list covering asset management, sales, leasing, valuation and advisory, sales management and owner associations, Asteco has registered a number of notable commercial milestones during almost three decades as a market leader.

“With Asteco set to celebrate 30 years of business in the Middle East in 2015, this was a calculated move designed to bring the team together under one roof as we embark on our next phase of development with the imminent launch of our franchise model in the region,” said John Stevens, Managing Director, Asteco.

“Since 1985 we have held asset management responsibility for over 5,000 buildings, notched up total project sales of AED12.3 billion and successfully handed over 3,194 units, as well as leasing more than 10,500 homes,” he added.

Located on Sheikh Zayed Road, the city’s main business artery, the 60-storey mixed-use Rolex Tower is a premier building and has been managed by Asteco since its completion in 2010.

The company currently manages a total of 350 developments with 7,500 units in three countries and has sold 13 million square feet of projects, which accounts for an impressive 6,814 units purchased by 91 nationalities.

“Our network of regional offices in Abu Dhabi, Al Ain, Dubai, Sharjah, Jordan and Qatar are populated by an incredible international team of industry professionals, and this is one of our fundamental strengths as a leader in the real estate sector as evidenced by our solid performance over the years and long term relationships with investors, developers and tenants across all asset classes,” said Stevens.

Asteco’s six business units, led by its senior management team, have a noteworthy track record. Its valuation and advisory team, under the directorship of John Allen, registered a single valuation topping AED 31 billion in 2011/12, and a combined market valuation for its Abu Dhabi and Dubai properties of AED105 billion for the same period.

Its Sales Management unit has handled over 5.6-million square feet of residential and commercial space to date, with a total value of AED6.25 billion. “The development of the UAE’s real estate regulatory environment has also been something that we, as a team, keep a constant handle on, and with 1,490 DLD registrations to our credit, we are well placed to serve our growing client base,” noted Stevens.

Asteco has also been at the coalface of industry change with its role in the establishment of owner associations in the UAE. “Nicholas White and the Association Management team have six years’ experience in administering this sensitive area of real estate management, and we are proud to say that we have a 100% retention rate and over 90% service charge collection rate across our instructed portfolio,” he remarked. 

Next for the company is the launch of its new licensing services and franchise option. This has been created to offer real estate companies and independent realtors as well as regional entrepreneurs looking to diversify their existing businesses, or launch a start-up, access to Asteco’s 30-year brand pedigree and its successful business model.

For more information, please call +971 600 54 7773 or visit www.asteco.com

Asteco, a major regional and international real estate services firm and the largest property services company in the United Arab Emirates, was founded in Dubai in 1985.  Asteco offers independent market analysis, design development consultancy and valuation services, sales and leasing services, as well as asset and property management services.

Asteco to unveil unique franchise model to the Middle East at Cityscape Dubai

Asteco to unveil unique franchise model to the Middle East at Cityscape Dubai

Leading property services company to franchise its 30-year old brand and successful business model to independent real estate agents and start-up brokerages

Asteco, the Middle East’s largest independent full service real estate company, is to enter the franchise arena with the launch of a new Licensing Services division, the first-of-its-kind in the region.

Showcased at this year’s Cityscape Global exhibition, taking place 21-23 September 2014 at the Dubai International Convention & Exhibition Centre (DICEC), the franchise opportunity has been created to offer real estate companies, independent realtors and regional entrepreneurs looking to diversify their existing businesses, or launch a start-up, access to Asteco’s 30-year brand pedigree and its successful business model.

Asteco is the only locally established, full service real estate business offering this bespoke franchise opportunity. The company has witnessed incredible growth in the last 30 years and in the process built a strong regional presence with a network of offices in Dubai, Abu Dhabi, Sharjah, Al Ain, Jordon and Qatar.

Commenting about the franchise opportunity, in what is a highly competitive industry, market specialist, John Stevens, Managing Director at Asteco said:

“The launch of the new licensing services division will allow us to further propagate the strength of the Asteco brand, image and reputation through an aligned franchisee network, delivering a successful tried and tested sales and leasing brokerage model by trusted and capable partners.

“Franchising is becoming an increasingly popular model around the world, as the only locally established, full service real estate business offering such a unique and bespoke proposition we fully expect interest to be high; already we have received numerous requests,” he added.

Potential franchisees will benefit from direct tailored access to the Asteco brand, tailored setup support services if required, bespoke operating area’s, regional brand visibility and access to an enviable sales and leasing portfolio, predominantly appointed on sole exclusive mandates, that listed in excess of AED 2.1 billion’ worth of sales properties and 1.5 million square feet of leasable space in 2013/14. It doesn’t stop there, instant membership of Asteco’s influential network and 24/7 online marketing support are also provided.

“Many of today’s real estate brokers weren’t even born when Asteco was founded 30 years ago, and many more have no conception of the UAE real estate sector prior to freehold sales to expatriates. We know our business model works, our record speaks for itself - over 7,000 units sold to date generating AED12.8 billion in revenue,” added Stevens.

The licensing model will also provide partners with a high value referrals service, access to Asteco’s dedicated intranet with a comprehensive range of resources, regular communication and updates, as well as use of the industry-leading real estate software and CRM platform.

Asteco is one of the regions few all-round management companies offering a range of services including asset management, sales, leasing, valuation & advisory, sales management and owner association.

“This is a market-first for Asteco moreover for the industry in the region and we are looking to develop franchisees who are equally passionate, service-oriented, commercially astute and credible professionals; working with them to grow their own businesses with our brand presence in what is one of the most dynamic, challenging and fastest developing markets in the world,” remarked Stevens.

For more details, please call +971 600 54 7773 or visit www.asteco.com

Asteco is located in hall 2, stand number 2B30, at Cityscape Global.

Asteco, a major regional and international real estate services firm and the largest property services company in the United Arab Emirates, was founded in Dubai in 1985.  Asteco offers independent market analysis, design development consultancy and valuation services, sales and leasing services, as well as asset and property management services.