RTA inks agreement with Meydan and Meraas to develop Real Estate projects around Dubai Water Canal

RTA inks agreement with Meydan and Meraas to develop Real Estate projects around Dubai Water Canal

Real Estate developments include shopping mall, hospitality, and retail, residential and commercial components.

Roads and Transport Authority – Mohammed Al Munji:

The Roads and Transport Authority (RTA), has signed an agreement with Meydan Group and Meraas Holding; whereby the two companies will undertake the construction of the real estate developments around the two banks of the Dubai Water Canal stretching from the Business Bay district and crossing the Sheikh Zayed Road up to Jumeirah Park with an extension to the existing park. The Canal passes across Al Safa Park, Al Wasl Road, Jumeirah 2 district, and Jumeirah Road before terminating at the Arabian Gulf near Jumeirah Beach Park. The real estate developments include hotels, shopping mall as well as several retail and dining outlets, and residential units.

The Agreement was signed on behalf of the RTA by H.E. Mattar Al Tayer, Chairman of the Board and Executive Director of the RTA, and for Meydan Group by H.E. Saeed bin Humaid Al Tayer, Chairman of the Board & CEO of Meydan Group, and for Meraas Holding by H.E. Abdullah Ahmed Al Habbai, Group Chairman of Meraas Holding. The signing ceremony of the Agreement, which was held in RTA premises, was attended by a host of senior executives of the RTA, Meydan and Meraas.

H.E. Mattar Al Tayer expressed his delight with the signing of the Agreement with these two reputed companies and said: “The RTA will cater to the drilling works of the canal, as well as the construction of crossings, roads and pedestrian paths. The project works have been divided into three contracts. The First and second contract relate to the construction of crossings over the Canal linking with the key roads intersecting the canal course which are the Sheikh Zayed Road comprising 8 lanes in each direction, in addition to Al Wasl Road and Jumeirah Road comprising 3 lanes in each directions apiece. Bridges rise 8.5 meters above the water level to allow free navigation 24/7.

“The third contract relates to drilling and landscaping works in addition to the construction of pedestrian crossings, and 4 marine transport stations to ease the movement of the public and promote the mass transport and tourist business. The marine transit modes are expected to ferry more than six million passengers per annum according to the plan mapped out in Dubai.
“The RTA will carry out several improvements in main roads intersecting the Canal in addition to some works in the surrounding areas such as Jumeirah and Al Safa. This includes the construction of roads along the two banks of the Canal to ease the mobility in those areas. As for pedestrians, a free and safe traffic movement will be provided through the construction of 4 pedestrian crossings over the Canal; one of them contains retail and dining outlets. Dedicated lanes will be provided for practicing light sports such as jogging and cycling along both sides of the Canal. Landscaping works will also be undertaken on both sides of the Canal offering greens, sitting areas and various types of relaxation and tourist facilities,” added Al Tayer
H.E. Saeed bin Humaid Al Tayer, Chairman of the Board & CEO of Meydan Group, said: “Meydan in equal partnership with Meraas will be the prime developers to create a distinctive destination development that embraces the unique canal and waterfront lifestyle. Our development will generate over 80% of waterfront property, which is planned in a sensitive manner to preserve the beauty and public community amenity of Safa Park. The Jumeirah Beach Park will increase by 25% with additional length of public beach.
This development will nurture an integrated community services that will cater to all residents and tourists in Dubai. Our vision is to encourage healthy lifestyle through thoughtful and intelligent design that would cater to comfortable pedestrian use of this development during winter and summer months. This is achieved with operable retail arcades that extend throughout the length of the canal walk, which will create continuous pedestrian connectivity from the Arabian Gulf to Business Bay. This development will represent the crowning jewel that will redefine the international leadership position of Dubai and the ingenuity of His Highness.”

H.E. Abdullah Al Habbai, Chairman of Meraas Holding, said: “The Dubai Water Canal project is yet another example of H.H. Sheikh Mohammed bin Rashid Al Maktoum's vision and Dubai’s zeal to use infrastructure as a catalyst for development and growth of the economy. This project will help further increase investor interest in Dubai’s real estate market, as well as provide growth in job opportunities. Meraas is privileged to be a part of a project that is set to reconfigure the topography of the emirate. I am confident that our three-way partnership model with Meydan and RTA will deliver on Dubai’s ambitious tourism and economic objectives.”


Diverse Developments:

The Dubai Water Canal project is a symbol of the innovative spirit of the Emirates to create peerless opportunities for community enrichment and growth. The development provides over 14 million square feet of exemplary retail, dining, hospitality and residential lifestyle along an exhilarating esplanade that borders a splendid canal, which connects Jumeirah Beach to the Business Bay. The project, which is expected to attract 30 to 36 million visitors per annum, comprises of recreational and sport facilities capable of constituting an important addition to the Dubai tourist map, creating an attraction for entire community spanning citizens, residents and tourists.

The Canal Gate Tower defines the threshold experience at the intersection of Sheikh Zayad Road and the canal, unifying both sides of the canal and the shopping mall, with an enclosed multi-level retail bridge that contains retail, F&B and entertainment venues. The Tower is a mixed use development that comprises of over 3.5 million square feet of area that includes 468 apartments, 470 service apartments and 617 hotel rooms, as well as over 400,000 square feet of retail and 735,000 square feet of commercial office spaces.

Safa Park is enhanced with the inclusion of an urban public beach with 1.5 kilometer of beach front and activated program space for public leisure and sports activity. The park boast updated facilities for running and cycling trails that are anchored by perimeter of 1,642 units of residential developments, that cocoons and captures the imagination of a transcendent urban lifestyle park. Within this zone residential and retail facilities edge both sides of the canal that are commensurate with the existing surrounding fabric. This perimeter will include over 460,000 square feet of boardwalk retail and restaurants, as well as 855 residential units.

The Jumeirah High street area is an exclusive enclave of 19 bespoke water villas and 44 townhouses above retail outlets. The canal walk environment transforms to a relaxed residential tempo with café culture punctuated with local plazas that nurture community interaction and healthy lifestyle. There will be over 180,000 square feet of retail with a total development area of over 760,000 square feet. The water villas are elevated on piers over the water with private boat docks and serene infinity edge swimming pools overlooking the canal activity.

The Jumeirah Beach Park is redefined with additional public beachfront that cradles the water and shelters the crescent shaped beach. The esplanade continues from the Business Bay to the apex of the canal that is anchored with a spectacular hotel tower that extends into the Arabian Gulf. This peninsula at the mouth of the canal includes a 120 boat marina, 925 hotel rooms and 1,363 residential units with stunning views of the Gulf, canal and the city. There will be over 200,000 square feet of retail with a total development area of over 4.2 million square feet.

The Dubai Water Canal project will be the consummate destination development for regional and international tourist as well as the residents of the Emirates showcasing ingenuity, leadership and creativity.
It is worth mentioning that the Dubai Water Canal will add six km to the Dubai waterfront and the Canal has a depth of up to six meters in high tides. The crossings rise more than eight meters to ensure the smooth and safe passage of large boats measuring 200 meters in length. It will also contribute to renewing the entire length of the Business Bay Canal water automatically without using water pumps. Thanks to the Canal, the Dubai Creek water will be renewed by 250 million cubic meters annually upon the completion of linking the Canal with the Business Bay District. The water movement during the hide and tide process through the Canal is estimated in the order of 800 million cubic meters per annum.

Omniyat brings a slice of Miami to Burj Khalifa District through The Pad, an artistic edifice tilted at 6.5 degrees

Omniyat brings a slice of Miami to Burj Khalifa District through The Pad, an artistic edifice tilted at 6.5 degrees

To be completed in mid-2015, The Pad heralds Omniyat’s hotel brand that will spread to other cities

Dubai, UAE, 7 October 2013: Omniyat, a leading developer in the Middle East, is bringing a slice of Miami to Dubai by re-configuring The Pad, an artistic edifice in Burj Khalifa District, tilted at a 6.5 degree angle, and themed on Miami designs. It will now offer luxury furnished apartments, instead of just residential apartments under the original model.

The iconic project will be displayed at Cityscape Global 2013 amongst other flagship projects developed by the company.

“The Pad, a 24-storey tower in the Burj Khalifa District featuring 231 luxury apartments, will be the new epitome of luxury in Dubai’s furnished apartment segment,” said Mark Phoenix, Omniyat's Managing Director. “The landmark structure boasts hand-picked works of art and superior levels of service. Themed on the eternal and classic Miami lifestyle, The Pad offers luxurious serviced apartments that are spacious and airy, with the highest standards of opulence.”

Phoenix said that the artistic landmark will be completed in mid-2015 as the first property under ‘The Pad’ hotel brand.

He added that The Pad inclines at an angle of 6.5 degrees, creating a unique look that is unsurpassed in the world. Also, Omniyat is creating distinguished exterior lighting with an LED façade, that will stand out brilliantly and light up Burj Khalifa District and its environs at night.

The Pad offers luxurious serviced apartments that are furnished with hand-picked repurposed items from all over the world. The colours, get-up and configuration of each apartment can be customized. All the furniture is eclectic and refreshingly modern and features fresh colours with sun-bleached gradients.

The Pad has a total built up of 431,000 square feet, with 364 parking spots, 24/7 valet parking, a massive lobby and a gallery dominated by a giant flamingo.

The Pad’s art collection includes specially-curated modern art pieces from around the world. Phoenix said that the company headed to Saatchi Gallery in London, looked far and wide in Japan and turned the European art scene on its head to obtain more than 200 one-of-a-kind art works, including pieces by Marc Quinn, Takeshi Murakami, Marcel Christ, Mario Testino and Damian Hirst. These pieces will turn apartments into an art gallery.

The Pad offers great convenience to its tenants. It offers the next level service as every small detail is well taken care of, be it shopping for groceries or appointing a personal trainer or dietician or enjoying a laidback massage or a swim in the pool which perfectly located at the base of the building. The building also offers a state of the art gym, a world class mocktail bar, a fantastic variety of fine restaurants as well as shops and eateries.

The Pad’s location is in the hub for restaurants, clubs and parks in Burj Khalifa District, and the biggest shopping centre in the world. It is strategically located to offer tenants an extraordinary stroll around the wide avenues of Burj Khalifa lined up with elegant palm-lined landscapes giving a great pedestrian feel.

With a portfolio of 15 plots in the Burj Khalifa district, 2.9 million sq ft of completed projects, and over 7.3 million Ft2 projects planned or under construction, Omniyat is one of the largest developers in this district.

Omniyat is in talks with leading partners, including hotel operators, anchor tenants, retailers and franchisees to maximize the value and desirability of its offerings to its investor base.

Omniyat’s new-look ‘The Opus’ to feature Zaha Hadid-designed ‘ME by Melia’ hotel & serviced apartments

Omniyat’s new-look ‘The Opus’ to feature Zaha Hadid-designed ‘ME by Melia’ hotel & serviced apartments

The 5-star hotel will feature Michelin star F&B outlets and Zaha Hadid signature furniture

Dubai, UAE, 6 October 2013: Omniyat, a leading developer in the Middle East, will unveil a reconfigured version of its landmark project The Opus, featuring Middle East’s first ‘ME by Melia’ hotel and plush serviced apartments, designed by renowned Arab architect, Dame Zaha Hadid.

Located in Burj Khalifa District, The Opus will feature signature furniture designed or selected by Hadid, giving it another huge value addition.

The Opus, which will be unveiled at Cityscape Global 2013, will feature the first ‘ME by Melia’ hotel in Asia, after its successful launches in London, Cabo, Cancun, Barcelona, Madrid and Vienna. The world class hotel will feature Michelin star F&B outlets spread across an area of 250,000 sq. ft. The entertainment options will be selected from New York, Miami, London and Las Vegas. The Opus will have exclusive furniture designed or selected by Zaha Hadid.

The limited number of serviced apartments, located on top of the hotel, will feature four penthouses with private roof terraces.Owners will enjoy the widest range of services customized.

“Omniyat is thrilled to unveil this ambitious project,” said Mahdi Amjad, Omniyat's Executive Chairman and CEO. “Inspired by Omniyat and designed by legendary architect, Zaha Hadid, The Opus will stand out as one of the most striking landmarks on the Dubai skyline and offer the hotel guests and residents of the serviced apartments a truly classy experience.”

The project marks the foray into Dubai by ME by Melia, operated by Melia Hotels International, one of the world’s leading hotel companies that currently runs more than 350 hotels and 90,000 rooms in 39 countries in 4 continents. ME hotel is not merely a five star hotel but an extraordinary personality brand that believes that no two travellers are the same and therefore cannot be treated in the same manner.

“One of the key value additions of The Opus will be the exquisite furniture designed by Zaha Hadid,” said Amjad. “As most connoisseurs know, Zaha Hadid’s furniture is only available in select Art Galleries and retails in the world.”

This new remarkable project shows that Zaha Hadid’s design has gone a way beyond buildings. The Opus ideally reflects architect’s exciting world of design.

Amjad emphasized: “The Opus is an extraordinary work of art, created by one of the world’s most brilliant minds. It is an icon of architectural distinction in downtown Dubai and a destination in its own right within the Burj Khalifa district, dubbed ‘a city within a city’.”

“The 95 metre high Opus is a masterwork of design whose repertoire gravitates towards distinction and originality. Brookfield Multiplex has already completed 30 percent of the construction,” Amjad said.

Located in one of the most desired places in Dubai, The Opus serviced apartments epitomise an incomparable experience of infusing stylish interiors with a home-away-from-home sensibility. They embody the ultimate urban lifestyle and all that one would expect in terms of luxury, hi-tech, service and privacy -- the cherished hallmarks of The Opus.

Dame Zaha Hadid DBE is a visionary architect who was selected in 2004 to become the first woman recipient of the prestigious Pritzker Prize, often referred to as ‘the Nobel Prize of Architecture’. Very recently, Hadid Architects’ design for the National Stadium of Japan, the centrepiece of the Tokyo 2020 Olympic Games and a significant iconic addition to Tokyo's skyline, is expected to become a shrine for world sport for the next 100 years as described by many.

ME by Melia is an international hospitality brand that spans the world’s global capitals of culture and cool with its progressive mix of design-driven and experience-centric approaches.

CEO and Vice Chairman of Meliá Hotels International, Gabriel Escarrer said “We have been searching for the next city for the ME brand to locate in and found it in this remarkable project in Dubai. It is a fascinating, exciting city that meets the high standards that ME by Meliá offers guests. Zaha Hadid’s masterpiece has exceeded our expectations; we are grateful to Omniyat for developing this ambitious project, and for trusting Meliá Hotels International as their key partner.”

Omniyat’s projects have a clear value proposition with offerings focusing on providing sustained value and tangible, measurable benefits to all stakeholders involved, including shareholders, buyers, and the community. The company has assembled international, multi-disciplinary teams of highly qualified professionals, each with many years of relevant experience in international markets as well as in the GCC region.

Omniyat works with “best-in-class” professional consultants and builders, with some of the world’s best known and most respected architects, specialty consultants and contractors. Omniyat has entered into strategic partnerships and joint ventures with selected professional service providers, offering complementary capabilities to its core business.

MAG Group to unveil AED 3.25 billion quartet of Dubai projects at Cityscape

MAG Group to unveil AED 3.25 billion quartet of Dubai projects at Cityscape

MAG Group to launch world’s largest M-shaped residential building; new deals signed for high quality residential developments in sought-after city locations

Dubai-based multinational MAG Group will unveil a quartet of new Dubai freehold residential and retail leasing projects at Cityscape Global this month, with a combined sales value of AED 3.25 billion, which are due for completion by 2017.

The latest announcement, which includes the launch of the world’s largest M-shaped residential building, brings MAG Group’s UAE focused portfolio to nine completed and active properties, with the new residential projects earmarked for Dubai Marina, Business Bay and Meydan.

“Dubai remains an attractive investment proposition for local, regional and international investors, and our active pipeline of AED 3.25 billion worth of upcoming projects is a direct endorsement of the potential, that the city still has to offer to residential property buyers,” said Moafaq Al Gaddah, Chairman, MAG Group.

The latest residential projects in Dubai Marina, Business Bay and Meydan, cover 3.75 million square feet and occupy prime community locations in sought-after areas of the city, as well as a new 600,000 square feet retail area in Al Barsha 2.

The AED 900 million MAG222 tower in Dubai Marina will be located close to the under-development tram link, while MAG220, an AED 400 million luxury residential building will be within easy reach of the Dubai Mall right in the heart of the vibrant Business Bay district. MAG Group is also developing an AED 2 billion project in Meydan, consisting of residential townhouses and low-rise apartment buildings.

“Our track record as a quality-driven developer that consistently delivers on its off-plan promise puts us in an enviable position to capitalise on early expressions of interest in our three residential projects at Cityscape Global. Investors can also remain secure in the knowledge that MAG Group’s experience and commitment to ensuring a transparent purchasing process, from start to finish, is guaranteed,” said Mohammed Nimer, CEO, MAG Group.

The 51-storey MAG222 tower in Dubai Marina, which will be the biggest M-shaped residential building in the world, will offer 550 spacious one to four-bedroom apartments as well as eight duplex penthouse units, some with their own private rooftop swimming pools. There will also be an exclusive retail area on the ground floor, a bespoke landscaped garden, a dedicated health club floor with an outdoor deck infinity pool and spa, plus a coffee shop, meeting and conference rooms. The development should break ground in 2014 and will take three and a half years to complete.

MAG220 in Business Bay, will occupy an attractive park and lakeside location overlooking Burj Khalifa Boulevard, close to Dubai Mall. Designed with a high-end family focused luxury lifestyle in mind, the 20-storey residential building, will be home to just 81 high spec’ two to four-bedroom apartments and two penthouses. The extensive leisure facilities will include a health club, spa, events space, kids club, landscaped terrace with BBQ set-up, as well as a lap and infinity pool. The project will be completed in 2016.

Rounding out the trio of residential launch announcements are the ‘Polo Townhouses’ and ‘Polo Residences’. The projects will be developed by Invest Group Overseas (IGO), member of MAG Group.

“The AED 2 billion multi-phase project, located in the Meydan district, includes 106 townhouses and a residential community spread across 29 five-storey apartment buildings. Construction of the development will start in Q1 2014 and will take two and a half years to complete,” said Dr. Anas Kouzbari, CEO of IGO.

Located in the emerging suburb of Al Barsha 2, MAG Group is also developing an AED 450 million retail area specialising in interior design and decorative products. The ‘Art Center’, is scheduled for handover in 2015. MAG Group executives are also inviting prospective retail tenants to discuss leasing opportunities during the three-day Cityscape Global showcase.

Visit MAG Properties at Cityscape: Hall 6, Stand # 6C30


About the MAG Group

The Dubai-based Moafaq Al Gaddah Group of Companies (MAG Group) was established in 1978 and has grown into a multinational organisation with 18 offices in eight countries throughout Europe, the Middle East and Asia.

MAG Group Properties currently has a portfolio of nine completed and active projects in the emirate of Dubai. Completed properties include MAG214, MAG218, Industrial Area 18, Emirates Financial Towers and MAG Hotel Apartments. A total of five projects are currently under development including MAG222 in Dubai Marina, MAG220 in Business Bay, the Polo Townhouses and Diamond Business Park at Mohammed Bin Rashid City, and the Art Center in Al Barsha 2.

Ahmed bin Saeed reviews traffic solutions planned for accommodating DXB Int’l Airport expansion up to 2020

Ahmed bin Saeed reviews traffic solutions planned for accommodating DXB Int’l Airport expansion up to 2020

Dubai - The Roads and Transport Authority – Mohammed Al Munji:
HH Sheikh Ahmed bin Saeed Al Maktoum, President of the Dubai Civil Aviation Authority and Chairman of the Emirates Group, hailed the projects, programs and plans undertaken by the Roads and Transport Authority (RTA) to upgrade roads network and public transport means across Dubai Emirate, and commended the existing cooperation and coordination between the Civil Aviation Authority and the RTA; which sets an example to be emulated by other entities.

HH made these remarks in a meeting held with RTA Leadership Team headed by H.E. Mattar Al Tayer, Chairman of the Board and Executive Director of the RTA, in the presence of Engineer Maitha bin Adai, CEO of Traffic and Roads Agency; Abdullah Yousef Al Ali, Acting CEO of Rail Agency; Ahmed Al Hammadi, Acting CEO of Dubai Taxi Corporation; and a host of RTA directors.

During the audience, HH was briefed by Al Tayer about the traffic solutions planned for accommodating the expansions envisaged for the Dubai International Airport up to 2020 where Al Tayer stated that the findings of studies conducted by the RTA to upgrade the Airport street to handle the projected increase in the number of passengers using the Dubai International Airport from 60 million passengers in 2012 to about 92.5 million passengers in 2020 indicated the importance of completing the improvements of the Airport Road by 2017 and Al Quds Road by 2020. The study also revealed the vitality of developing a new traffic route linking the Airport Road and Al Rabat Road.

HH Sheikh Ahmed bin Saeed Al Maktoum also reviewed the plans set by the RTA to serve Al Maktoum International Airport (Dubai World Central), and the Dubai Air Show 2013; which encompasses solutions to streamline the traffic flow and the operation of buses and taxis, including the deployment of more taxicabs to serve visitors of the Air Show.

The meeting also discussed the importance of improving the taxi service at Terminal 3 of the Dubai International Airport where additional taxi ranks will be allocated to cater to the rising numbers of passengers during peak times.

At the end of the meeting, Al Tayer expressed his thanks and appreciation to Sheikh Ahmed bin Saeed for supporting RTA projects.

Caption:
Ahmed bin Saeed and Al Tayer during the meeting

Asteco to showcase two new projects at Cityscape Global

Asteco to showcase two new projects at Cityscape Global

Duo of premium JBR and Reem Island properties to offer smart investors a luxury lifestyle and healthy returns as residential market performance gains increasing momentum into Q4 2013

Leading regional real estate services firm, Asteco, will be showcasing two new residential projects at this year’s Cityscape Global exhibition, which will take place from 8-10 October 2013 at the Dubai International Convention & Exhibition Centre (DICEC).

With rising property rental and sales prices recorded in H1 2013, and forecasts for a bullish full year market performance, buyers looking to invest in the city’s thriving leisure hubs and new outlying communities can expect to see healthy returns according to Asteco’s Dubai Q3 2013 report, which reported year-on-year apartment rent and sales price increases of 19% and 42% respectively. Abu Dhabi’s year-on-year apartment rent and sales prices have increased 20 % and 26% respectively.
Located in the vibrant Jumeirah Beach Residence (JBR) district of Dubai, the Al Bateen Residences are scheduled for completion by December this year and will offer a total of 304 apartments, from spacious one-bedroom options to ‘super penthouse’ level homes with over 7,200-square feet of living space.

“JBR apartments saw a 32% increase in sales price from Q2 2012 to Q2 2013. We haven’t witnessed any slowdown in transaction volumes or sales growth in the second half of 2013 to date, and new project launches like the Al Bateen Residences at JBR continue to offer an extremely attractive lifestyle investment proposition,” said Sean McCauley, Director – Agency, Asteco.
A prime development from Al Ain Properties, overlooking the popular landscaped beachfront and retail promenade – The Walk - the 50-storey residential tower will be twinned with an adjacent 24-floor hotel that will be managed by an internationally renowned - hotel chain.

Residents will be able to enjoy exclusive access to an extensive suite of hotel services and luxury facilities, and come with their own recreational facilities and dedicated parking.
Apartment options include two-bedroom units ranging from 1,462 to 1,717 square feet, 1,808 to 2,952-square foot three and four-bedroom units, and a limited number of penthouses.
Also on show at Cityscape Global will be the new twin Beach Towers developed by Al Badie Group, located on Reem Island, Shams Abu Dhabi.

“This is a high-quality development, in a much sought-after location. An easy commute into the centre of Abu Dhabi, close to all amenities and as the name suggests, offering an idyllic coastal lifestyle, at one with nature,” said McCauley.
Conveniently situated on the shores of the mangroves coastal area, the twin towers each consisting of 28 floors, are joined together by a podium, and offer a total of 431 luxury apartments ranging from one to four bedrooms.
Residence owners and tenants will have a wide range of high end facilities on their doorstep, including the beach, swimming pool, health club and spa. All units also come equipped with premium quality kitchen appliances and balconies.
The beautifully appointed and spacious apartments at Beach Towers are ready to move into.
Asteco is located in hall 3, stand number 3D20, at Cityscape Global.

For more details, please 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.

Investors turn to hotel residences to double ROI

Investors turn to hotel residences to double ROI

Return on investment potential for hotel residences can be up to double that of independent apartments; high spec ‘des res’ apartments at Anantara Residences on Palm Jumeirah will highlight growing trend at Cityscape showcase

Dubai-based developer Seven Tides is receiving increasing interest from local regional and international investors for its exclusive Anantara Residences Dubai, situated on Palm Jumeirah, ahead of its debut at the Cityscape exhibition which opens 8 October 2013.

The fully furnished Anantara Residences comprise a total of 442 one and two-bedroom apartments, ranging from 1,158 to 1,524-square feet and 1,743 to 2,867 square feet respectively, with terrace or balcony spaces, the majority with sea views. There is also a limited number of three - four bedroom penthouses, offering up to an additional 3,200 square feet of space.

“The starting price for a one-bedroom apartment is AED2.4 million. In comparison a Palm Jumeirah Shoreline apartment of similar size (1,184 square feet), in the Jash Falqa building is on the market for AED2.2 million. But in terms of financials that is where any similarity ends,” commented Abdulla Bin Sulayem, CEO, Seven Tides.

According to property experts Asteco, these Shoreline apartments only command an annual rental rate of approximately AED100,000. But Dubai Government’s Department of Tourism and Commerce Marketing (DTCM) has estimated that the average rate for a hotel room in Dubai last year was AED607 with a forecast for 2013 of AED637. The DTCM also claimed that hotel occupancy rates in 2012 were running at an average of 81.8%, again with a positive outlook for 2013.

Therefore a hotel room (or residence with access to five-star resort hotel facilities) could generate as much as AED190,200, almost double the AED100,000 annual rent a Shoreline apartment realises.

“Of course there are management fees involved but equally it could be argued that the DTCM figures are average rates - Anantara is a luxury five-star resort and as such would attract room rates at the top end of the scale. What is clear is that investors not only have options, but they can potentially realise up to 8.2% return on investment, based on the DTCM’s average rates, not to mention capital appreciation. According to the Asteco H1 2013 report, Dubai apartment sales prices are currently growing by 38% annually.

“Many investors are now looking for the flexibility to generate supplementary income by leasing their apartments when they are not in Dubai. So far in terms of nationality breakdown, the bulk of our investors have come from the UAE 22%; Russia - 20%; UK – 14%; India - 12% and Kuwait and Qatar 8% respectively,” said Bin Sulayem.

Another potential bonus for investors is of course Dubai’s Expo 2020 bid. If it is successful, this type of leasing could become extremely popular with project consultants for example, who may need to travel to Dubai on a regular basis for a number of weeks at a time during the build up period. In the unlikely event that the Dubai bid is not chosen, the amount already committed to infrastructure projects will still provoke demand for flexible accommodation.

Facilities at the 293-room five-star Anantara Dubai Palm Jumeirah, Resort & Spa, which opened recently, include a gym, 107,600-square feet of temperature controlled lagoon pools, six dining and entertainment venues and the Anantara Spa.

Not that the view from the apartments is anything to complain about. The collection of 442 luxury apartments and 14 penthouses are fronted by a private stretch of white sand beach with all residences enjoying spectacular panoramic views of the Arabian Gulf, Atlantis hotel, Burj Al Arab and the Dubai Marina skyline.

Visit the Anantara Residences Dubai Palm Jumeirah at Cityscape: Hall 8, Stand # 8A05


Photo One: View from the Anantara Residences Dubai Palm Jumeirah.

Photo Two: Interiors of 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.

Sheikh Ahmed bin Saeed tours Anantara resort on Palm Jumeirah

Sheikh Ahmed bin Saeed tours Anantara resort on Palm Jumeirah

His Highness Sheikh Ahmed bin Saeed Al Maktoum, President of the Department of Civil Aviation, CEO and Chairman of The Emirates Group and Chairman of Dubai World was given the first official VIP tour of the new Anantara Dubai Palm Jumeirah Resort and Spa on Tuesday.

His Highness was accompanied by a number of senior dignitaries including His Excellency Sultan Ahmed bin Sulayem, Chairman of DP World and Seven Tides Chairman, as well as Abdulla bin Sulayem, CEO, Seven Tides. The tour also coincided with the World Travel Awards which took place last evening at the hotel celebrating excellence across all sectors of the global travel and tourism industry.

“We were honoured that His Highness Sheikh Ahmed accepted our invitation to officially tour this magnificent resort. And it was highly appropriate that the awards ceremony , which recognises and rewards excellence in tourism, should be hosted by us,” said Abdulla bin Sulayem, CEO, Seven Tides, the owning company of the Anantara Dubai Palm Jumeirah Resort and Spa.

The resort’s five-star facilities, which are fronted by a private stretch of white sand beach include 293 rooms, plus 18 over water villas, a state-of-the-art gym, 33,000-square feet of temperature controlled lagoon pools, six dining and entertainment venues and the renowned Anantara Spa.

The complex also includes an exclusive collection of 442 freehold luxury spec’ apartments and 14 penthouses which are set within a stunning, landscaped location, with access to the hotel’s facilities and various flexible management options, leaving the hotel to manage properties on behalf of their owners.


Photo caption: His Excellency Sultan Ahmed bin Sulayem, Chairman of DP World and Seven Tides Chairman gives His Highness Sheikh Ahmed bin Saeed Al Maktoum, President of the Department of Civil Aviation, CEO and Chairman of The Emirates Group and Chairman of Dubai World the first official VIP tour of the new Anantara Dubai Palm Jumeirah Resort.

Photo caption 2: His Highness Sheikh Ahmed bin Saeed Al Maktoum, President of the Department of Civil Aviation, CEO and Chairman of The Emirates Group and Chairman of Dubai World meets Bill Heinecke, CEO of Minor International, the owner of the Anantara brand.

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.

Crystal Lagoons to bring world’s largest crystalline manmade lagoon to Dubai

Crystal Lagoons to bring world’s largest crystalline manmade lagoon to Dubai

Revolutionary technology on show at Cityscape as Crystal Lagoons adds Dubai project to multi-billion dollar Middle East portfolio; rising demand for high profile, crystalline lagoons as region moves ahead with sustainable large scale leisure and tourism projects

Dubai, 02 October 2013. Multinational Crystal Lagoons Corp. the patented technology developer of giant crystalline lagoons, marks its return to Cityscape in Dubai, which starts on the 8th October, with the launch of its latest and grandest project to date, which once completed will be entered into the Guinness Book of World Records.

Crystal Lagoons has signed a deal to construct the world’s largest manmade lagoon, covering 40 hectares, almost four-times bigger than the world’s largest existing lagoon. Located in the upscale Mohammed Bin Rashid City – District One residential community, located in the heart of Dubai, the lagoon will form an integral part of the US$7 billion project. Mohammed Bin Rashid City – District One is a prestigious joint venture between Dubai-based Meydan Group and Real Estate developer, Sobha Group.

The new lagoon with its expansive custom-made beaches, which offer unlimited scope for swimming, water sports and other water based leisure activities, will be a core amenity within Mohammed Bin Rashid City - District One’s fourty seven million square feet of freehold land. This expansive development will feature luxury residences, green parklands, waterways, a high end shopping and dining pavilion and large recreational spaces creating one of the lowest density developments in the heart of any international city.

“Caribbean landscapes are no longer exclusive to tropical destinations. Our pioneering concept and state-of-the-art technology, which allows for sustainable, swimmable, turquoise lagoons of unlimited sizes to be built and maintained at low cost anywhere in the world, is proving extremely popular with our growing list of partners across the Middle East,” said Kevin P Morgan, CEO, Crystal Lagoons.

“Dubai gives us an outstanding strategic position in the Middle East, and the opportunity to participate in a world-class development that adds prestige to our current project portfolio,” he added.

Mohammed Bin Rashid City (MBRC) is a planned mixed-use development containing four components; family tourism, retail, the arts and entrepreneurship and innovation. One interesting feature will be a public park larger than Hyde Park in London.

Crystal Lagoons’ global portfolio of 250 projects located in 50 countries includes five high-profile Middle East based developments. The company has completed two lagoons in the popular Egyptian resort of Sharm El Sheikh - including currently the world’s largest lagoon at 12 hectares – and another completed project in Jordan, along with two other projects under development in Oman and the UAE.

“As the only company in the world offering this concept and technology, we continue to expand
globally and revolutionize the real estate market by partnering with international developers and
resort operators to improve overall sales prices, velocity, and project densities. Based on our track
record in the Middle East, we have proven that our technology can add value to a top destination, making beachfront real estate a reality anywhere in the world,” said Morgan.

The company is currently in discussions for a number of exciting new tourism projects in Saudi
Arabia, Qatar, the UAE and Egypt, and Morgan emphasises the region’s attractiveness as
investment in tourism infrastructure continues to outpace other global markets.

Crystal Lagoons’ portfolio of regional projects also includes the completed 4.29-hectare Dead Sea Lagoon in Jordan, a project developed in partnership with Turath for Tourism & Real Estate Projects, and the under development 4-hectare lagoon located within the new Barka Resort in Oman. The Alargan-developed resort is situated 50 kilometres west of the capital, Muscat, and the lagoon has become the focal point of the community, which also offers three hotels, serviced apartments, villas, townhouses, apartments and a souk.
With the announcement of its new Dubai project, Crystal Lagoons is also on the way to securing its third Guinness World Records’ title for the world’s largest swimming pool, building on the success of its San Alfonso del Mar, Chile, and Sharm El Sheik, Egypt, locations.

The only global company with the technological capability to make the development of giant bodies of water economically viable, Crystal Lagoons is positioning itself as offering a unique product differentiator to high-profile tourism and real estate projects around the world.

Its technology makes it possible for people to enjoy an authentic beach experience in previously unimaginable locations, such as the desert or in the centre of major cities, with the potential to add economic value to new tourism destinations and real estate projects.

Crystal Lagoons uses up to 100 times less chemicals than traditional pool systems and only two per cent of the energy required by conventional filtering technologies, making the lagoons incredibly sustainable.

The largest real estate event in the Middle East, Cityscape Global 2013 takes place from 8-10 October 2013 at the Dubai International Convention and Exhibition Centre.


Crystal Lagoons is located in hall 8, stand number 8E30, at Cityscape Global.



Photo caption: The 2.7 hectare Crystal Lagoons project in Radamis for Hotels & Touristic Resorts, Sharm El Sheikh, Egypt.

Crystal Lagoons’ development in Mohammed Bin Rashid City – District One, will cover 40 hectares once complete and will be almost four-times bigger than the world’s largest existing lagoon.

ABOUT CRYSTAL LAGOONS
Crystal Lagoons Corporation is an international innovation company that has developed and patented technology that allows for the low-cost construction and maintenance of unlimited size bodies of water in crystal-clear condition. Patented in 160 countries, Crystal Lagoons’ technology applications range widely from its recreational business, which brings the dream of idyllic beach life to any corner of the world, to its industrial variations in closed-circuit cooling, water desalination and applications for the mining industry. The technology was pioneered by Fernando Fischmann, the founder and chairman of Crystal Lagoons Corporation. A trained biochemist, Fischmann patented the technology and founded Crystal Lagoons Corporation in 2007. In less than three years since its formation, Crystal Lagoons Corporation has seen exponential growth and is currently involved in over 250 projects in more than 50 countries, including Egypt, Jordan, United Arab Emirates, Saudi Arabia, Indonesia, Singapore, Colombia, Brazil, Argentina, Peru, Paraguay and United States.

Dubai property prices up again in Q3 but still 42% lower than 2008

Dubai property prices up again in Q3 but still 42% lower than 2008

Market rates to rise further but prices unlikely to hit 2008 peaks in short to mid-term says special Asteco Q3 2013 report for Cityscape Global

• Dubai villa and apartment sales prices soar year-on-year by 26% and 42% respectively, but still 42% lower than Q3 2008

• Year-on-year villa and apartment rents up 19% and 23% respectively but still 31% and 38% lower than Q3 2008

• Office rents rise 43% over past year, but 66% below Q3 2008 peak

Although Dubai property sales and rental prices have put in another robust performance over the past 12 months, average sales prices for apartments and villas are still 42% lower than in Q3 2008, with rentals lagging 38% and 31% for apartments and villas respectively over the same period. And according to the Asteco Dubai Q3 2013 report, although prices will increase further, it is unlikely that they will hit their 2008 peaks in the short to mid-term.

The special report, which will be distributed at the Cityscape exhibition next week, highlights the fundamentals that have been driving the Dubai market. Political stability, trade links, a buoyant and diversified economy, regulatory infrastructure and an attractive tax environment have all contributed towards a resurgence in transactional activity over the past 12 months, which has led to a significant appreciation in sales and rental prices, said the report.

Commenting on residential sales prices, John Stevens, Managing Director, Asteco Property Management said, “Sales prices for villas and apartments recorded year-on-year growth of 26% and 42% respectively. While we have seen numerous project launches and increased interest in buying off-plan properties, projects with favourable payment plans in good locations saw the bulk of demand.”

The best performing areas for apartment sales prices over the past year were Discovery Gardens, up 75% to AED700 per square foot, and Jumeirah Lakes Towers up 46% to AED950 per square foot. In terms of 2008-2013 performance, Jumeirah Beach Residences and The Greens are 32% and 33% respectively below their 2008 peaks. On average, the most expensive area to buy an apartment in Dubai at the moment is Downtown Dubai, at AED1,700 per square foot.

In terms of villas, over the last 12 months Jumeirah Village was the standout performer increasing by 50% to AED750 per square foot, followed by Jumeirah Islands (+30% to AED1,300 per sq ft) and Springs (+25% to AED1,000 per sq ft). Still one of the most exclusive locations for villa owners is Palm Jumeirah, commanding AED2,000 per square foot, over AED700 per square foot more than Jumeirah Islands and almost double that of any other freehold area in Dubai.

“Almost in parallel with the sales market, apartment and villa rents are still below Q3 2008 levels by 38% and 31% respectively, added Stevens.

“However, recovery is well underway with a year-on-year average rental growth of 23% for apartments and 19% for villas. We expect rental growth to continue as economic improvements fuel internal demand as well as result in new arrivals,” he said.

Given its initially low rates, International City outperformed the market over the past 12 months with a 35% increase. A one-bedroom apartment now costs AED32,500 per annum. Downtown Dubai is just 25% below its 2008 peak, with a two-bedroom apartment now renting for AED140,000 per annum. Palm Jumeirah remains the most expensive out of the areas surveyed, where a two-bedroom apartment rents for AED160,000 per annum on average.

Villa rentals in The Springs fared best over the past year, recording a 34% increase to AED165,000 per annum for a three-bedroom house, with villas of the same size in Mirdiff increasing 31% to AED120,000 per annum. The Palm Jumeirah is still one of the most expensive places to rent a three-bedroom villa at AED350,000, which is just 10% below its 2008 peak.

“Office sales prices have seen little improvement over the last five years and are still 63% lower than in Q3 2008 while the last 12 months only saw minimal increases of 8% on average. However, despite rental rates 66% lower than in Q3 2008, the office market has outperformed residential over the past year, rising 43%, albeit from a low base,” said Stevens.

Asteco is located in hall 3, stand number 3D20, at Cityscape Global.


For more details, please 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.