McCauley to direct sales and leasing at Asteco

McCauley to direct sales and leasing at Asteco

Asteco Property Management has announced that Sean McCauley has been appointed as ‘Director - Agency’, tasked with driving the growth and development of the Dubai-headquartered firm’s real estate sales and leasing divisions.

Through McCauley’s leadership, the Agency division will strategically monitor customer, market and competitor activities to conceptualise tailor-made sales and leasing strategies. His main areas of responsibility will be, market pricing and project positioning, managing complex sales negotiations and directing overall sales strategy to achieve Asteco’s corporate objectives.
McCauley brings with him 15 years’ experience in property sales in South Africa and the MENA region. Prior to joining Asteco, McCauley spent 12 years in executive positions with the Rawson Property Group, one of South Africa’s largest real estate companies, managing over 1,000 estate agents in 140 offices.
Most recently McCauley was VP Sales at DAMAC Properties where he was involved in numerous projects throughout the Middle East.

“Sean’s strategic outlook combined with his solid industry experience, made him the outstanding candidate for this position,” John Stevens, the managing director of Asteco.
Asteco’s ever expanding portfolio of managed properties now consists of over 78,000 leases or approximately 290 buildings. The company manages a number high profile projects including the Rolex Tower, Maze Tower, Sama Tower, Oceana Palm Jumeirah and Nation Towers.

“Asteco is well established in the UAE market and has an excellent reputation. I am looking forward to working closely with my colleagues in property management and research to identify market trends and to further develop our sales strategy,” said McCauley.

McCauley graduated from the University of South Africa (UNISA) in 1998 and went on to complete his Masters in Business Administration at Henley Business School – University of Reading in the UK last year.
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Photo caption: Sean McCauley, Director - Agency, Asteco Property Management,


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.

Seven Tides appoints Better Homes as exclusive sales agent for new Palm Jumeirah luxury resort residences

Seven Tides appoints Better Homes as exclusive sales agent for new Palm Jumeirah luxury resort residences

Luxury Anantara branded apartments to set new standards for waterfront living on Dubai’s most desirable offshore community

Dubai-based real estate developer Seven Tides has announced the appointment of the UAE’s largest property realtor, Better Homes, as the exclusive sales agent for Anantara Residences Dubai, Palm Jumeirah.

Anantara, which is renowned for its luxurious, discovery-lead hospitality, has branded and will operate an exclusive collection of 456 condominium apartments occupying a prime beachfront position on the crescent of the Palm Jumeirah. Each residence comes complete with high spec finishes and unique interior design touches, as well as panoramic ocean views framed by the resort’s white sand beach, landscaped gardens and the city skyline.

Home-owners also have access to a wide range of hotel facilities and services at the 293-room five-star Anantara Dubai Palm Jumeirah, Resort & Spa, including housekeeping, room service and laundry, concierge service, world-class restaurants and impressive leisure facilities, which include a private beach, three swimmable lagoons, water sports, the Anantara Spa sanctuary, private gymnasium & fitness studio and tennis courts.

“The Anantara Residences will raise the bar for luxury living in Dubai, and we are delighted to bring Better Homes on board as a local real estate operator with the international reach and client list that perfectly matches our luxury positioning, and the clientele that we expect to attract to the resort when it makes its debut this September,” said Abdulla Bin Sulayem, CEO, Seven Tides.

Condominium sizes range from 107.5 square metres for a 1 bedroom residence up to Penthouses with their own sunken swimming pools and gardens occupying an impressive 920 square metres. Better Homes is now busy putting the finishing touches to its sales and marketing structure and its ongoing strategy, in preparation for an influx of enquiries once the prices are released and the residences go on open sale later this month.

“One of the biggest selling points for these incredible residences, in addition to the location and freehold status, is the fact that they are not being sold off-plan, but are already complete and ready for home-owners eager to start enjoying their new Palm Jumeirah home,” said Ryan Mahoney, CEO, Better Homes.

“Better Homes comes with a 30-year track record in the property arena and its 250-strong team of specialised and well-connected consultants is supported by a highly engaging and easily navigable website, which we are sure will bring the residences to the attention of high net-worth individuals looking to make a sound investment or add to their real estate portfolios,” remarked Bin Sulayem.

Seven Tides is no stranger to developing luxury lifestyle environments. Another luxury resort it has developed is the sold out, 644 apartment Oceana Residence, located on the trunk of The Palm Jumeirah. It offers spacious one, two and three-bedroom units with high quality finishes and panoramic views over the private gardens and beach. The complex includes a private infinity pool, lazy river and beach, as well as a jogging track, landscaped recreation areas and a gymnasium.


Photo Caption: Ryan Mahoney, CEO, Better Homes with Abdulla Bin Sulayem, CEO, Seven Tides outside the Anantara Residences Dubai, Palm Jumeirah.

For more information, please visit www.seventides.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.

About Better Homes

Better Homes is UAE’s largest property realtor, and one of the Middle East’s most recognised and respected brands for property; offering residential and commercial property sales and leasing, property management, and short-term rentals. Established in 1986, Better Homes now operates in 25 offices, throughout the Emirates and in six countries.

RTA completes construction of internal roads at Al Qouz 4

RTA completes construction of internal roads at Al Qouz 4


Dubai - Roads & Transport Authority:
The Roads & Transport Authority (RTA) has completed the construction of Internal Roads of Al Qouz 4 Residential Area Project in the District 359; which is bordered by Al Waha Road to the North, Al Khail Road to the East, Latifa bin Hamdan Road to the South, and Al Asayel Road to the West.

Al Qouz Residential Area 4 Project comprises the construction of 8 km-long roads covering internal roads, roadside parking spaces, street lighting, road marking, light signals and traffic safety means in order to ensure the safety of road users (pedestrian traffic) through controlling the traffic movement and driving speed. Works completed also included rainwater drainage systems and the protection of the existing utility lines in the project area among others.

“By completing project works in Al Qouz 4 Residential Area Project, which started in May 2012, the RTA has provided a smooth and seamless traffic flow in the internal roads across the entire area and the smooth entry & exit of residents,” said Engineer Maitha bin Udai, CEO of RTA Traffic & Roads Agency.

“Al Qouz area is currently having several projects underway including R 911 Project at Al Qouz 2, which covers an area of 225 hectares in Area 355 comprising 3.7 km-long dual carriageway, 7 km-long two-way streets with roadside parking slots, 7 roundabouts, and street lighting works in addition to storm-water drainage and sewage networks.

“Al Qouz 3 is also experiencing the construction of 3.3 km-long one-way streets along with roadside parking spaces, and 5.3 km-long roads along with associated logistical services. These projects are part of roads network improvement policy in place tailored to cater to the rising urbanization and demographic growth rates in the Emirate of Dubai; which is a key strategic objective of the RTA,” said Maitha in a final remark.

Jumeirah Towers photos, Dubai Marina, 29/March/2013

Marina Wharf 2 construction photos, Dubai Marina , 29/March/2013

RTA offers inquiry about Dubai Metro schedule by SMS service

RTA offers inquiry about Dubai Metro schedule by SMS service

Dubai- Roads & Transport Authority – Manal Khalid:
The Rail Agency, Roads & Transport Authority (RTA), has launches a new service for inquiring about the timing of the Dubai Metro services in different times through short text messages to be sent to 5223. The service is coordinated with the Public Transport Agency via the timetables of the Journey Planner (Wojhati); an exercise that saves much time and effort of customers, rendering the metro transit experience highly smooth & accessible.

Ramadan Abdulla, Director of Rail Operation, RTA Rail Agency, said: “The RTA is keen on offering a bunch of new technological services that meet the needs of the public and facilitate the processes of using mass transit systems in general and the Metro in particular. Delivering this service is aligned with the highest international standards of mass transit systems, and enhances the satisfaction of customers who are the backbone of the success of our various initiatives, particularly as the Agency is aspiring to contribute to realizing RTA’s strategic goals highlighted by “Customers Centricity”.

“The SMS service will enable metro riders to know the metro schedules in a precise and handy manner, offering them real-time information that help them travel smoothly. The new initiative fits well with the profile of Dubai as a premier global trading and economic hub,” explained Ramadan.

The Director of Rail Operation summarized the procedure of availing the service in sending a text message to the Number 5223 containing the letter D, followed by the Code of the Stand near the metro arrival point, which is also contained in the information display monitors and the Metro Guide available in all Green and Red Metro Line stations. The customer will receive a message communicating the timing of three inbound journeys. In case the rider is interested in knowing different timetables, he or she can insert the letter D, followed by the Code of the Stand and the required time, he added.

Ramadan concluded his statement by stressing that such a vital service would undoubtedly boost the use of the metro ridership as it helps users access to information directly and instantly.

RTA completes upgrading all parking meters to accept new coins

RTA completes upgrading all parking meters to accept new coins

Dubai- Roads & Transport Authority:
The Roads & Transport Authority (RTA) has completed updating all parking meters and configuring them to accept the new 1 dirham coin issued by the UAE Central Bank in 2012; which has specifications different from the previously issued 1 dirham coin. The move has been taken in the public interest, and to make life easy for the public using the newly issued coins in these meters besides ridding the public of the inconvenience of picking up offence tickets for the lack of paying parking fees.

Adel Al Marzooki, Director of Parking, RTA Traffic & Roads Agency, said: “The plan to upgrade 3,927 parking meters all over controlled parking zones in the Emirate has been set since the beginning of last December, and priority was given to the most congested areas such as the Fish Market, Courts, and Gold Souk among other areas bustling with trading activities and processing of transactions in general.

“The RTA provides four additional means of paying parking fees, all of which are not based on using coins, namely: Prepaid Parking Cards, Gold, Silver and Blue NOL Cards, m-Parking (SMS via mobile phones), and Seasonal Parking Cards.

“The RTA plan for upgrading parking meters has also addressed the acceptance of the new 50 fils coin to be issued by the Central Bank during the first quarter of this year in the context of RTA’s keenness to serve all the needs and wishes of customers and the public; which forms part & parcel of its strategic objective: Customers First,” said Al Marzooki in a concluding remark.

Captions:
- Adel Al Marzooki: sorting out problems of the newly issued coins

The Atlantic photos, Dubai Marina , 29/March/2013

My Tower construction photos, Dubai Marina , 29/March/2013

Mounting demand pushes Dubai real estate prices up further

Mounting demand pushes Dubai real estate prices up further

Apartment and villa sales prices up 12% & 5%, rents climb by 3% & 4% respectively; residential rates climb in all areas says Asteco Q1 2013 Dubai real estate report

All residential developments in Dubai, especially those with quality buildings or those in prime areas, have continued where they ended 2012 with a strong Q1 2013 performance.

Apartment sales prices grew on average by 12% in the three months to the end of March 2013 with year-on-year growth standing at 27%. In comparison, although average villa sales prices only climbed 5% in Q1 2013, growth over the past 12 months averaged 24%.
The performance of rental rates was also impressive, average apartment and villa rents grew by 3 and 4% compared to Q4 2012, but still managed to climb 19 and 21% respectively over the past 12 months.

“The overall outlook is positive with demand and rates expected to continue to grow. However, this will also mean that some tenants and buyers will be priced out of certain buildings or communities,” said John Stevens, Managing Director, Asteco Property Management.

“Prices are not only being driven by tenants relocating, Dubai is also attracting new tenants and those expatriates here are still tending to take a longer-term view of living in Dubai,” added Stevens.

The areas that came out on top for villa sales in Q1 2013 were the Meadows which jumped 10% reaching AED11,850 per square metre; Jumeirah Islands which rose 9% achieving AED13,450 per square metre and the Jumeirah Village which also grew 9% to AED6,450 per square metre. Year-on-year villa sales in the Springs grew by 29% to AED 9,700 per square metre and the Palm Jumeirah remains the most expensive at AED20,450 per square metre.

In terms of apartment sales the top performer in Q1 2013 was Discovery Gardens which increased by 33% to AED 6,450 per square metre. The only other double-digit growth was recorded in Dubai Marina and Jumeirah Beach Residence, where rates grew 14 and 15% respectively to AED 12,900 and AED 12,400. Over the past 12 months once again Discovery Gardens was the top achiever climbing an impressive 50% and again the Palm Jumeirah is the most expensive area with property commanding AED16,150 per square metre compared with apartments in DIFC and Downtown Dubai, which now change hands for AED 15,600 and 15,000 per square metre respectively. The Palm Jumeirah remains the most expensive area, with a three-bedroom villa now costing AED 325,000 per annum.
“In terms of supply and demand, Dubai is still benefiting from the Arab Spring and the Euro crisis, which was brought into sharper focus recently with the Cypriot banking crisis. Good quality stock is gradually being reduced while the length of time that advertised units stay on the market now is also shortening,” added Stevens.

Apartment rental rates grew most during Q1 2013 in International City where a two-bedroom unit increased by 8% to AED 40,000, while most other areas recorded up to 3% growth. However on an annual basis, a two-bedroom unit in Discovery Gardens now leases for AED 70,000 a 27% increase. Downtown Dubai and Dubai Marina followed, notching-up increases of 21 and 22% respectively. A two-bedroom apartment in these developments rents on average for between AED 100,000 and AED 125,000.

Although the commercial market saw little movement during 2012, it did show some signs of life in Q1 2013. Rental rates in Dubai Investments Park rose 13% to AED 485 per square metre, while JLT and Tecom rose 20 and 25% respectively to command AED 654 to AED 800 per square metre compared to the same period last year. DIFC remains the premium destination for office rental with AED 2,400 per square foot. Q1 2013 office sales prices grew most notably in JLT (9%) and Business Bay (7%).
For more details, please visit www.asteco.com

A copy of the full Asteco Dubai Q1 2013 report can be downloaded from –



http://www.asteco.com/uae/dubai/research-library-listing/Dubai-Q1-Report-2013



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.