Villas In Dubai Selling For Dh 10 Million At Ultimate Prime Residential Location

Luxury villas in emirates hills costing more than Dh 10 million have registered a soaring hike in its sale, of about 45%. According to a consultancy, emirates hills have reported the promising 40% increase which is the highest transaction amount amongst all top villas during past four years. Identical trends have been followed when we talk about sales price of villas and their rents. This has kept the yields stable between 3.5-3.7% over the past 4 years.

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Company CEO David Godchaux said that with limited stock and without new supply of this scale of quality in such close surrounding, these properties have central location and close adjacency to other top residential and economic clusters which makes it most desired after ultra prime localities in Dubai for international investors and buyers.

To gain advantage on these factors, it’s expected that this prime submarket will hold value in mid to long term along with carrying an elite address status.

Dubai Marina

Despite of the selling activity in Dubai Marina fallen over by 25% and as it has been keep falling every passing year, the community has created value for the buyers as the prices ease.

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Dubai Marina observed high transaction activity in apartments over last few years. As expected, occupancy levels of headlines are almost 90% within top performing towers and top rental market has paused relatively due to continued demand from migrants.

The CEO adds that the prime sale prices have hit a low of about 8% each year although it has created opportunities for investors through steady yields averaging between 5-6%.

Downtown Dubai

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The ease in sales market is pushing the prospective investors to take long term approach by holding properties and leasing out core assets instead of flipping in Downtown, as the rental market continues being strong.

The transaction levels have dripped down by 19%. The district Housing Burj Khalifa, the tallest tower in the world and Dubai Opera maintains high headline occupancies right now spanning over 85% across most of the prime towers.

Rental market has displayed a rise of 2%, an year on year raise bucking apprehensions of weakening rental demand due to a unifying financial jobs market.

Investment

Top residential property prices in Dubai are almost 60% beneath of New York’s, 75% below London and 85% below top ones of Hong Kong.

“Supported by existing ease of sales market, potential capital appreciation and higher long term yields, Dubai’s top residential real estate holds very good value as per the global levels”.

With low holding charges and lower transaction costs, Dubai stacks up complying against other competing global cities as an investment destination for individuals and investors globally and with ultra high net worth.

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New Home Owners In Dubai Gets Penalty For Delays

Many who bought great off plan launches Dubai realty saw from 2012 have started to ask that where are their properties and not getting much for a reply. They are asking from their developers.

For them, the wait continues for their properties to be delivered. It is likely to be a approximated that only 60% or so of these launches have gone through the handover process.

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On the annual supply of newly completed homes in Dubai, this year it has started to tell and the market would be lucky to experience another 8000 units getting delivered.

In the first 7 months, only 18% which is 4,769 units of the estimated 27,000 units have been handed over, according to a data.

Private sector’s developers of Dubai especially are in no rush to see their already existing projects.

Unmet Obligations & Delays

They could be slipping back into the habit of delaying the projects and giving no heed to meet their obligations towards the buyers. The tactic is not helping for the good of market. The number of supplies has fallen below the projection level over past 3 years and this year it is likely to be lowest in 4 years as per the MD of Global Capital Partners.

It appears that H2-16 will be having same deliveries as H1 which is 4,700 units. Controlling the supplies is the way through which this tightness can be responded which took hold of the property market since mid 2014, the year which saw 18000 rough deliveries and year 2015 it was around 11,000 units.

Their argument is that by restricting the supply, it will make sure that property values will not soften quickly. Also with their cash positions under stress, there will be a natural effect on the schedules of the project.

Again this is not representing the whole market, as per the consultancy in its last updation on Dubai’s situation. A few of the prime developers delivering key flagship projects stayed relatively on track for their timeline of deliveries.

Also the developers that concern over excess supply destroying the values don’t seem to hold water. The market is experiencing a soft in values and not a crash as it was back in 2009-10. All of the established locations of Dubai- Palm, Dubai Marina and Downtown can take the corrections in their stride. Existing investors have not yet panicked.

Whether government owned or private-developers are still launching. It’s been days since it has announced that Palm 360 hotel & residences and apartments including 12,000 square feet penthouses will be carrying a super premium tag.

Real estate giant Shapoorji Pallonji is also making its entry into real estate development with its offering in upscale residential in Downtown. If they would have been concerned about the market response, they won’t be launching this now.

The investors will need to make the payment obligations to the developer/mortgage leader. When the delay happens, it means that their chances of recouping those investments get put back by so many years. At a point, these investors may lose patience and can file a complaint against relevant authorities.

Penalties for Delay

The introduction of the penalties for the delay is a practice which is prevalent in many markets and provides some relief to buyers- notwithstanding further impact on delivery margins and their ability to align stock with demand. For private developers, the situation is full of after effects. The next wave of buyers would give their attention and funds to government owned developers and their launches or ongoing projects.

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Such a consolidation of buyer interest on a few of top developers can cause chaos in private developer ranks. They will blame themselves if insisted upon stretching the few projects beyond 4-5 years.

The next time Dubai’s property market heads for an upturn, they could be the ones left well and behind.

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A7 Group Properties – Dubai

A7 Group Properties were established in 2011 and their headquarter is based in Dubai UAE. It offers best and profitable project to clients. Launched in 2011; but their business growing fast in the market. It is focused to give best professional broker advice for buying, selling and leasing properties in Dubai and Managed both residential and commercial projects. Property expert from UK supervised all deals in real estate market.

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What’s the extra factor in choosing A7 group properties is: they are maintaining a partnership with many well-formed companies to provide every other information related to properties, home financing, furnishing, packers and movers and other legal matter in the UAE; which helps clients buying properties easy.

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A7 Group Properties offer services in UAE including overseas, experienced, skilled team provides clients, many properties related services in residential as well as the commercial project in Dubai. Agent ha expertise and responsibility to provide clients required services with assurance whether related to building of property portfolio, investment planning, leaving services and real estate sales as today’s investor are more careful about investment and needs. We are still trying to give clients full satisfaction which covers their needs and desires as we are spending more to understand clients’ requirements to serve best.

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A7 Group Properties is registered with the Dubai land department as authorized in real estate broker which makes competitive firm with other company and gives clients an advantage in properties deals. Our services and resources give the best way to clients to achieve their requirement in real estate market.

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Own A Space – One of the leading Real Estate portal of UAE has enlisted the properties of “A7 Group Properties”. You can browse through the luxurious property, built to deliver high return on investment.

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Get New Business Opportunities in Dubai with Dubai World Trade Centre

Dubai World Trade Centre’s new planned projects will surely attract new businesses opportunity, meetings, incentives, conferences and events in the required sector in the emirate. on Wednesday His Highness Sheikh Mohammed bin Rashid Al Maktoum who is respected Prime Minister and Vice-President of the UAE and Ruler of Dubai.  Personally inspected this big master plan for One Central, anticipated amount of AED8 billion will be mixed-used for this project which is still in under development.

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The project is executing by Dubai World Trade Centre in Central Business District. The project will provide a new destination easing international trade and commerce and making a new way for multinational businesses to growing in the region, through the formation of permanent representative offices or new regional headquarters in the UAE and Dubai.

One Central will initiate new multinational entrants to create a presence for business within the UAE and even for covering the wider region, providing a business internationally recognised legislative framework and operational strategy. Dubai is tolerant for almost every culture and maintaining its unique heritage and remaining its leading position in developing remarkable projects.

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One Central project totalling 540,000 square metres with business, residential and leisure developments, including 5 Grade A, LEED Gold certified office buildings ,4 hotels ranging from 3, 4 and 5 stars with the capacity of 2,000 total room ,1,300 premium apartments in residential apartments and townhouses and a multi-purpose theatre. Two office buildings are already under construction and expected to complete at the end of 2017 that will be accompanied by landscaped areas, retail and entertainment.

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Dh7 Billion for Key Projects in 2016 and 2017

In a recent visit of Highness Shaikh Mohammed bin Rashid Al Maktoum, the Prime Minister and Vice-President of the UAE and Ruler of Dubai, in eastern coast region, reviewed the progress of implemented projects by Infrastructure Development Ministry.

Including residential support programs, roads, schools, health centers, building new residential complexes and government buildings these projects are worth Dh 7 billion.

Shaikh Mohammed approved 17 new projects worth Dh1.5 billion, implemented by the Ministry in 2016 and 2017 in the areas of education, highways, healthcare, (sports and culture) complex from the federal government budgetary allocations.

UAE’s eastern region comprises Fujairah, Dibba Al Fujairah, Khor Fakkan, Kalba, and Al Hosn. Across the country, funding is amounted to 10.3 percent to the total allocated expenditures.

Project is set to be implemented during this year including Special Forces buildings, a Deportation Prison in Sharjah, police stations, building hospitals for (Obstetrics, Gynecology and Children), buildings for the departments of Civil Defense, along-with expanding emergency section of Al Qassimi Hospital Al Khezamia, Shaam Hospital Ras Al Khaimah, Al Amal Psychiatric Hospital, building Maternal and Child Care centers in addition to a number of health care centers throughout the eastern region.

Projects scheduled to be implemented next year includes creating and raising the efficiency of Dibba-Massafi road (Phase II), Dubai- Fujairah highway, extending Emirates Road (Phase II), extending the road between Umm Al Quwain and Ras Al Khaimah ring road roundabout of Al Aqran, developing the road Massafi – Fujairah.

Minister of State for Financial Affairs Obaid Humaid Al Tayer stressed on a point to adopt a strategy aimed to provide necessary finance to improve the infrastructure projects implementation within the UAE.

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No Oversupply of Housing Units: Dubai Population Growing 7% a Year

In addition to Dubai’s population growth of 7 percent a year gives a translation of 75,000 new properties entering the market each year. It’s sure that Dubai’s property market is not facing any issues of oversupply in listed properties and finding right price for buyers.

As we already beginning to see demand outstrip supply as the availability of listed properties for sale continues to decrease an oversupply of property and too many developments in the pipeline are patently false,

Many developers have either delayed the launch of new projects or slowed down the construction this year. Property prices are set to increase with demand for property continuing at peak levels and continued low supply,

Under current market conditions, properties listed at an “achievable” price are getting multiple offers from buyers. Showing the real strength of the market and the combined effect of high demand and keeping tight supply, we’re starting to see, increase in prices.

Oversupply will be the first thing to show the market in trouble but the fact is precisely the opposite scenario– Real-Estate is actually struggling to find units for the demand. Multiple listing of units online on property websites is one of the reasons of oversupply.

Giving additional features like 3600 panorama view, giving the feature of virtual reality Own A Space serves as an intermediary platform with a total of 51,769 properties listed till date on our website since we started; Own A Space is an emerging website to connect owners and agents to potential buyers and tenants.

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Dubai Skyscrapers Are More Affordable

Skyscrapers in Dubai are more affordable than international cities like New York, London, Hong Kong and Tokyo, as per a latest report by Knight Frank.

The report examines the rental performance of commercial buildings that has more than 30 floors across the world, report shows that skyscrapers rents in London rose to $126 per square feet (9.7 percent) in the second half of 2015. During the same period Dubai skyscrapers’ rents remained unchanged at $43.5 square feet.

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Dubai is amongst other international cities hosts a large number of tall buildings that has more than 50 floors. City also hosts The Burj Khalifa that is world’s tallest building with height of 828 meters, Princess Tower of 414 meters, 23 Marina of 392 meters, Elite Residence of 381 meters, The Marina Torch of 348 meters and the list is very long.

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As per the latest Skyscraper Index from Knight Frank, rents in London’s skyscrapers are rising faster than any other global city. Rents growth is seen in other global cities such as Hong Kong with 3 percent and San Francisco 4.76 percent over the same period.

The only global city where skyscraper rents decreased for the same period was Singapore, with the decrease of 4.75 percent.

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Hong Kong’s skyscrapers Rents are continuing to be the highest in the world, reaching $263 per square feet in the last two quarters of 2015. New York with $155 per square feet retains the second position and Tokyo at third position with $129 per square feet.

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Interesting fact, Mumbai’s emergence as a top performer benefited from growth in tech, surpassing business and financial services as the top occupier of office space in the last two quarters of 2015. This is the second time in twelve months, as London is the fastest growing office tower market due to its diversity of constrained supply and occupier demand in the world. In the US, the rapid expansion of the tech sector is underpinning rental growth for towers in cities like San Francisco and Boston.

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Emaar Going To Re-Open Address Hotel By The End Of Year

Emaar Hospitality Group is ready to launch its Address Boulevard ­hotel in the final quarter of 2016.

The Address Boulevard linked to The Dubai Mall will be housed on the lower floors of a 72-storey Downtown Dubai tower is nearing completion.

Once completed, The Address Boulevard will be the sixth-tallest in Dubai and the second-tallest tower in Downtown Dubai.

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It is housed in an arched tower that’s been designed by the Norr Group, Dubai-based architects and constructed by contractor Brookfield Multiplex. On lower floors it has 196 rooms that include 36 suites with a club lounge. It will also have a conference and banqueting hall, a new multi-room food & beverage concept, a spa on the entire fourth floor.

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On the upper floor there will be 530 serviced apartments and luxurious Sky Collection apartments. The top two floors of the building will have a “lifestyle dining” restaurant and bar operated by an independent F&B operator

The third floor of the hotel will have a F&B concept based around a “home” theme, with separate rooms such as games room, kitchen, lib­rary and dressing room.

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The timeframe can be defined that it should open just before completion of restoration works on the neighboring Address Downtown Dubai property, which was damaged very badly during a fire on New Year’s Eve. As per Emaar chairman Mohamed Alabbar, they is trying to re-open the Address Downtown by the end of the year.

Robert Booth who is co-managing director of his own development firm Ellington Properties and former chief executive of Emaar’s Dubai opera­tions, said that Dubai needed many more new hotels.

Further continues, he said that number tourist visitors will grow to 25 million in 2020 as compared to 14.5 million tourist visitors last year. To accommodate that kind of tourism growth, you require 5,000 new hotel rooms for every million new visitors.

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