Business Bay records robust sales growth of 62% in total value during Q3 2013 over Q3 2012.

Business Bay records robust sales growth of 62% in total value during Q3 2013 over Q3 2012.

Business Bay records over 24% growth in volume of sales transactions in Q3 2013 compared to the Q3 2012.

Dubai, UAE; October XX, 2013: Business Bay, the mega-development of Dubai Properties, recorded a growth in the volume of sales transactions by 24 per cent in Q3 2013 compared to the same period in 2012. With over 135 residential transactions reported in the third quarter of 2013, the total value of residential and mixed-use property sales in Business Bay was close to AED268 million, an increase of 62% compared to the same period last year, according to data by the Dubai Land Department*.

The third quarter (July to September) of 2013 recorded a 12 per cent growth in volume of sales transactions compared to the second quarter of 2013. Over 135 sales transactions were made during this period, valued over AED268 million, an increase of 12 per cent in value of sales transactions compared to the second quarter of 2013. The highest number of transactions were made in September with 63 apartments and mixed-use units sold at a total value of over AED115 million, according to data by the Dubai Land Department*.

Porush Jhunjhunwala, Director at Banke International, the premier property sales company with a strong roster of residential and commercial properties in Dubai, said: “Business Bay has emerged as one of the front-runners driving the last few months with rental rates and sales prices firming up during the third quarter of 2013 and now witnessing further increase in demand and take-up by both property buyers and tenants.”

He added, “Residential rental rates in Business Bay are appreciating at notable levels outperforming the market at large. Occupancy rates are increasing with new supply being added to the market. The rich array of lifestyle amenities in neighbouring destinations like Downtown Dubai, including The Dubai Mall, Souk Al Bahar and several world-class hotels and leisure attractions, has made the location highly sought-after by tenants, owner-occupiers and investors.”

Studios in Business Bay can be rented from AED 60,000 - AED 75,000 per annum, and are a preferred choice by executives while couples and small-sized families opt for 1 or 2 bedroom apartments at rents ranging from AED 75,000 - AED 90,000 per annum and AED 115,000 to AED 135,000 per annum, respectively. Large-sized families or those with larger budgets can find 3 bedroom apartments ranging from AED 155,000 to AED 185,000 per annum.

Residential sales prices range from AED 810 to AED 1,500 per square feet1 The price range is governed by the the stage of construction, the views offered, build quality and location apart from unit size and type.

Office sale prices are in the range of AED 700 to AED 1,200 per sq feet and are available for rent at AED 60 to AED 80 per sq ft2 per year on a shell and core basis

Among the residential property choices in Business Bay are homes in Executive Towers; as well as apartments in Churchill Executive, U-Bora residential tower, Windsor Manor, Ontario Tower, Mayfair Residency, among others.

Among the commercial office space at Business Bay are Churchill Executive, Oberoi Tower, One Business Bay, Citadel Tower, 51@Business Bay, Al Manara Tower amongst others offering a range of amenities including drop-off area for employees or clients, basement car parking, cafes and pedestrian walkways.

As the bustling hub located centrally in the city, Business Bay has multiple towers – some developed by Dubai Properties and others developed by individual developers – for residential, commercial, hospitality and mixed-use real estate. The community is in close proximity to the “Center of NOW” Downtown Dubai, and also has direct access from the Dubai Metro station.

Popular shopping destinations such as The Dubai Mall and Souk Al Bahar are about 10 minutes drive from Business Bay.

Residents in most of the residential buildings benefit from facilities including community pools. Many of the towers have ancillary retail at the ground floor offering pharmacies, restaurants and cafes, souvenir and gift shops.

Business Bay’s appeal will be further bolstered with the newly announced projects such as the Dubai Modern Art Museum and Opera House District, and the Sheikh Zayed Bin Mansour Al Nahyan Mosque, among others.
Due to strong demand, Banke International expects rental vacancies to be lower in the short-medium term, pushing rental rates as well as sales prices higher underlining the strong outlook for residential properties in Business Bay.

Dubai Marina photos, UAE, October 2016

Bunyan Tower photos, Dubai Marina, 16/October/2013

The Pentominium photos, Dubai Marina, 16/October/2013

RTA Launches Two New Bus Routes to Serve Al Maktoum International Airport

RTA Launches Two New Bus Routes to Serve Al Maktoum International Airport

Roads and Transport Authority- Nashwan Atta’ee

The Public Transport Agency at the Roads and Transport Authority (RTA) launched on October 27th two new routes for buses and they are (F55) and (F55A) to serve Al Maktoum International Airport in Dubai.

Essa Abdul Rahman Al Hashemi, Acting Director of Planning and Business Development at the Public Transport Agency, stated that Route (F55) will start from Ibn Battuta Metro Station towards Al Maktoum International Airport meanwhile Route (F55A) starts from Al Satwa Bus Station towards the Airport.

Al Hashemi pointed out that the Agency is keen on an ongoing basis to expand and strengthen the network of routes of public buses to connect various areas of the Emirate of Dubai with vital points such as Al Maktoum International Airport, which will gain global interest to harmonize its global status, enjoyed by the Emirate as a global prominent hub in various economic, trade, service and financial fields and in other vital areas.

He said: Route (F55) will start from Ibn Battuta Center and pass through several areas including Dubai College, Royal Mirage Hotel, Royal Meridian Jumeira Hotel, Al Waha Beach Hotel, Hilton Jumeira Hotel, Al Hadaeq Intersection in Jebel Ali to Al Maktoum International Airport meanwhile Route (F55A) will start from Al Satwa Bus Station and pass through other areas such as Al Qaderi Mosque, Handicapped Rehabilitation Center, Emirates National Bank of Dubai (Al Wasl branch) Jumeira Post Office, Hilton Beach Club, Jumeira Beach Garden, Al Ghareefa Council, Jumeira Mosque (3) Umm Suqeim Garden, Wild Wadi, Burj Al Arab, Jumeira City and Sufouh Street to Al Maktoum International Airport.

He added: The launch of the two routes from Ibn Batouta Metro Station and Al Satwa bus Station to Al Maktoum International Airport comes to encourage those heading and returning from the Airport to use mass transport means which fulfils the main goal of the Authority especially that the Airport will play a key and vital role as one of the main pillars that enhances the Emirate's economy and tourist movement.

He stressed that the Roads and Transport Authority takes great importance of all suggestions, complaints and observations by the public who are considered the most important foundation of the success of its plans and objectives aimed at expanding, strengthening and upgrading the network of mass transport, including public bus routes, through addressing and resolving complaints and listening to the constructive proposals and views in the development of work, through various means of communication such as the Authority's website, or through the Call Center 8009090, or social networks or through field surveys which are prepared accurately and delivered to the various categories and segments of society.

Escan Marina Tower photos, Dubai Marina , 16/October/2013

Dubai Marina Mosque construction photos, UAE, 16/October/2013

RTA installs Smart Meters on Dubai Taxicabs

RTA installs Smart Meters on Dubai Taxicabs

Showcased at GITEX 2013

RTA – Nashwan Atta’ee

RTA’s Public Transport Agency has showcased the next generation Smart Taxi Meters at this year’s GITEX 2013 with the focus on transforming customer experience.

“The state-of-the-art Smart Taxi Meters would allow the customers to see the taxi driver information in addition to his picture. This step has been taken to improve the customer satisfaction level in taxis and gain feedback from customers,” according to Adel Shakri Director, Transport Systems of the RTA Public Transport Agency.

“The Transport Systems Department would be able to send road safety messages and weather conditions to their taxi drivers using the Smart Meters to improve drivers’ and customers’ safety. The Smart Meters would connect directly to the taxis on-board computers, which would be used to collect precise information and data, and later on analyze driving behaviors of different drivers. In addition, 3dimention-maps would be available in all Smart Meters to provide route guidance and help drivers in taking customers to different destinations all over Dubai on time, ” said Shakri.

“The Department will also be able to send images of Dubai City as well as other information such as promotions related to incoming landmark events like Expo 2020 images that can be sent online to the Smart Meter and then be displayed on the screen of the smart meters.”

“The Smart Meters would be integrated with the sophisticated Dispatcher 8 System of the Dispatch Center at the Public Transport Agency that is currently runs more than 8,500 taxis in the Emirate of Dubai to cater to the needs of taxi riders. Initially, RTA plans to start rolling out the Smart Meters to 600 taxis this November provided that the application would be executed on the remaining taxicabs of the entire fleet on phases,” he further explained.

Adel Shakri reaffirmed RTA’s continued keenness and commitment to keep pace with the latest the world’s latest technologies and introduce the most viable applications and devices that enhance its services provision to the public from different social cross-sections including the taxi customers and all public transit commuters.

“RTA has always been endeavoring to come up with the most innovative solutions, which make its varied services smarter, smoother and most accessible to the public, and to be in line with Dubai’s Smart Government initiatives that have been launched to make the lives of residents, tourists and visitors safer, easier and more comfortable,” Director, Transport Systems said in a closing remark.

Pier 8 photos, Dubai Marina, 16/October/2013

Dream Tower photos, Dubai Marina , 16/October/2013