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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Dubai Ranks Top in Visitor’s Expenditure Worldwide with $31.3b

According to Global top 20 destination cities by international overnight visitors of 2016, Dubai ranks 4th which is in the top 5 after Bangkok, London, & Paris. Abu Dhabi has become the fastest growing destination of the world and stands 3rd among the international visitors.

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Projected figure of international visitor’s traffic of 15.27 million in 2016, Dubai has jumped to the top rank on the basis of expenditure by visitors of $31.3 billion. This is according to the index of annual MasterCard Global Destination Cities which released on 22nd September, 2016.

The biggest surprise in this year’s index is the jump of Dubai to the top rank exceeding the 2nd ranked London estimated at $19.8 billion.

As per the experts comment, Bangkok is indicated to receive 21.47 million international overnight visitors in 2016, just ahead of 2nd ranked London which is to serve 19.88 million visitors. The British capital has topped the 2015 but it doesn’t say that why some of its shine has worn off for the travelers this year. The 2 cities have topped the ranking for most of its history.

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For rest of the cities includes New York, Singapore, Kuala Lumpur, Tokyo and Seoul.

“The way people travel and spend across the borders reveals how interconnected and significant the world’s cities are,” said the president of International Markets, MasterCard. “As the planning of the trip and experience become increasingly important, MasterCard is bringing all these pieces together through connections and innovation.”

The Index provides more than the ranking of the 132 mostly visited cities around the world. It projects visitor volume and estimates of the expenditure for the 2016 calendar year, while exposing deeper understanding of how people travel and spends across the world. As fast pace of spending and travel across cross-border continue to increases than the world GDP, the cities of the world continue to be engines of wider economic growth.

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The difference between global top 10 and fastest developing top 10 destination cities discloses that Asia Pacific, Middle East and Africa have become increasingly significant for the global economic landscape. Many cities on the Index have increasing growth trajectories, revealing the rising interest in both visiting and living in cities, MasterCard said.

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Picture Courtesy: www.khaleejtimes.com

Osaka has shown the fastest growth (24.15 per cent) over last 7 years. Other cities which were forecasted as top 10 fastest growing cities include: Abu Dhabi – 19.81%, Chengdu – 20.14 %, Colombo – 19.57%, Tokyo – 18.48%, Taipei – 14.53 %, Riyadh – 16.45%, Tehran – 12.98%, Xi’an – 14.20%, and Xiamen – 12.93%.

For the first time, the Index explored whether visitors travel for leisure or business as well as insights into how international visitors spend, including of dining, lodging and shopping. 2016 Index shows that among the top 20 cities, more people travel internationally for leisure, except to Shanghai.

Top 20 visitors overwhelmingly spent more on shopping, as opposed to dining, apart from Europe, where meals captures greater share of expenditure in Amsterdam, Barcelona, Istanbul, Milan, Paris, Prague and Vienna.

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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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Emaar To Restore The World’s Largest Luxury Hotel Chain In Dubai Land

According to Dubai Holding Chief Executive Officer, Bawadi, considered as the world’s largest hospitality and leisure development for the year 2007 is being restored in Dubai.

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The Bawadi project which is joint venture among the Dubai holding and Emaar, right now is in its early stage and its progress will be communicated from time to time. There are no other details to be shared at the moment.

Dh-60 billion signature development is an equally owned venture which was launched in October 2007 whereas Bawadi, a member of Tatweer, owned by Dubai Holding would add up 70 million square feet of land (worth Dh 3.85 billion) in lieu of the interest of the ownership while Emaar will contribute Dh3.85 billion n cash to the joint venture.

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Bawadi in Dubai land is situate in close adjacency with Arabian Ranches and was comprehended to be the longest chain of luxury hotels across the world along 10 km stretch which add 51 luxury hotels and more than 60,000 rooms to Dubai. The main highlight was 6,500 rooms of Asia hotel and resort.

The project was known to have a built up area totaling 60 million square feet with 2.7 million square feet of commercial space, shopping mall & high street retail properties along with a total of 3.2 million square feet of retail. The avenue was to be bordered by 6 hotels providing for 1,200 service apartments and 5,150 keys.

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The residential community of the project was planned to have 18,000 residences with green parks and lakes which were going to be an integral part of the development. While the ongoing global financial crisis, it was put on hold.

At present, Dubai Holding and Emaar are advancing the Dubai Creek Harbour, relaunched back in 2014 which will house “the tower” (928 meter, the tallest in the world).

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Buy Property in Dubai Nearby Burj Khalifa

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Dubai is a hotspot and it is a champion among the other destinations in property investment. It is a spot, where your dreams can work out. The zone is apparently the home to presumably the most fundamental building considers, for instance, the Burj Khalifa, It cetera. You should consider buying as a space accessible to be obtained around there to acknowledge accommodations and workplaces.

The area has some of the best looking features that no other area would have. Moreover, it offers access to the other areas of the city by means of taxis, buses, pathways, and metro. Staying in an apartment in this area is really a privilege.

The zone has a portion of the most attractive elements that no other region would have. Also, it offers access to alternate regions of the city by method for taxis, transports, pathways, and metro. Staying in a loft here is truly a benefit.

Conveniences and Offices

Obviously, you can investigate the city from the most noteworthy vintage point that the Burj Khalifa brings to the table. There are numerous top instructive establishments, human services affiliations, and so on here. The zone is incredible for families and for excitement since it has numerous amusement focuses, eateries, schools, open parks, and so forth. You could likewise discover great bread kitchens and nourishment joints around there.

How to purchase a flat here?

You could approach a property agent or broker, who may offer you some help with purchasing a space around there for a little charge close by giving you information on the most ideal approach to purchase a property in here. On the off chance that you are not arranged to locate a middle of the road range masters.

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How to Look for Apartments to Stay in Dubai?

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Moving to a new place and finding reasonable apartments for rent is most likely one of your needs. You can browse a lot of alternatives in your hunt now a days. Discovering the right investment property may not be as troublesome as you envision.

Two Things you must know about renting a Luxury apartment

In the event that you can’t manage the cost of purchasing an apartment, your answer is likely to rent. In spite of the fact that moving to another loft can be exceptionally energizing, discovering a decent one to lease could be an overwhelming errand.

Where to search

You’ll know the rental market vastly improved and will presumably show signs of improvement arrangement. Likewise tell your companions that you’re searching for an apartment to lease and perhaps they will show something in their structures. Not going to utilize a specialist’s administrations due to the additional expense the following thing is to look in the daily paper classifieds, distributions, and tell your friends that looking for an apartment.

Set a financial plan

Center your pursuit as per your financial plan and however you may be compelled to bargain when discovering a greater loft in a superior range, ensure it merits spending the additional cash. In case you’re searching for a less expensive spot to lease, attempt flatmate administrations to share an apartment, however, ensure you recognize what sorts of individuals or propensities you’d like to keep away from.

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Dubai Ranked Among the Top Globalized Emerging City of the World

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Digitization, urbanization and the most important Globalization these are the three key trends and the factors shaping the future of Dubai, as it developed into a global city. If you were looking for the property investment this year, then you can turn around your eyes to Dubai, as it is the top contender this year in the emerging cities list. The emirate has been named the world’s third most globalized emerging city and which are the reason you can think of investments in the Dubai, it can set you up with good profits in the future.

The Global Shapers Annual Survey 2015 provided the insights into how Millennials see the world. They have chosen the UAE as the top emerging-market destination. The Millennials are choosing a country that is very serious and concern about the professional advancement,” – Yemi Babington-Ashaye, Global Shapers Community Head, World Economic Forum.

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Dubai’s efficient, stable, emerging and pro-business environment, connectivity across more than 200 cities approx and proximity to the world’s largest wealth funds are just a few of the considerations that are increasing the number of investors, corporations and young talent.

Dubai presents a unique opportunity to the peoples that needs to be developed, harnessed and invested in. Dubai has world-class infrastructure, global aviation connectivity, services and friendly time zone, combined with a diverse population and talented pool of people, there is no rival in the Middle East to Dubai’s position as a global city. It is the right time to invest in Dubai and be a part of the globalized, emerging city in UAE.

If you are looking for the real estate portals where you can get the right choice for the property selection and the details on property agents & brokers click here.

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Real State Market No Cause For Concern – Dubai Land Department (DLD)

The Dubai Land Department (DLD) has again denied the news arousing, that the real estate market in the emirate was slowing down, stated that that the sector is “going strong and dynamics are in favour”. The prices are staying firm and there is no need to worry regarding oil crisis, weaker currencies and instability in Yemen and Syria, as it has no major effect on the real estate market in Dubai and nearby areas.

As continued low oil prices have seen many economies and investors around the world having to negotiate lean periods, and a re-surging in the dollar means the price value of real estate in middle east has indeed become a bit expensive for many international investors around the globe. Dubai, being an international city, it was not immune to the impact of the global economic slowdown over the past one year.

The reason for the low transaction, we believe might be because of two major factors. First the extraneous international factors discussed above, and secondly, might be the faulty figures of 25,000 new units entering the market released by some analyst earlier in the year, left immense effects on the investor sentiment, with many investors holding back investment over the span of the time for fears of price declines due to oversupply in real estate market.

We hope the real estate investors will now have a clean & a clear picture of the market and are certain that Dubai realty will be well & will be on the way to recovery in the near future.

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Top 3 Stunning Residences in Dubai

Dubai is known as the city that has world class architecture and offers a large number of options for luxurious & stylish living. Here is a stunning Dubai Marina residence that will make you fall in love with the area all over again.

The Address Residences, Dubai

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Picture courtesy: www.address-dubai.com

The Address Residences – One of Dubai’s best places to live in, it is a global group of opulent properties, united by essence of nature, relaxation and inspiration. The iconic modern design – furnishing, locations and business facilities are tailored to offer you the ultimate in city living. It is located in Downtown Burj Khalifa, home to the world’s tallest tower.

Nuran Marina Apartments

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Picture Courtesy: www.nuran.com

Nuran Marina apartments are developed & designed with great care, precision and attention to provide guest comfort and convenience. The apartments are luxuriously finished, spacious with beautiful marina views. There are ample of leisure facilities in residences, including outdoor swimming pool, fitness club, steam room, Jacuzzi and gymnasium.

One & Only Royal Mirage Dubai, Garden Villa

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Picture courtesy: royalmirage.oneandonlyresorts.com

One & Only Royal Mirage Dubai is a magical place where all your mythic charms of old Arabian will come alive. This beautiful place consists villa which is a part of the luxury hotel built in the style of a Moroccan Palace. The place is known for its privacy & tranquillity, it has private beaches and swimming pools with beautiful landscaping and lavish bedroom fit for kings.

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Now Buy Plots in Sharjah Industrial Park

Sharjah Authorities focusing on industrial and real sector to pull out more investors in the segment. They have earmarked a massive land mass as an “Industrial Park” of around 14 million square feet in which land measuring 10 million sqf will be available to investors. Recently launched the sale of plots in Al Sajaa Industrial Oasis. The first set of plots (55) will be open to the Emirates and Overseas investors.

There will be 4 rounds of sales for all 353 plots in the upcoming months, following the first batch of 55 plots, the second phase with 114 plots, the third with 123 and the fourth with 61 plots. The park aims to promote light to medium scale industrial activity, developments, staff accommodation and retail section area.

Dubai and Sharjah are on the higher side in real estate sector, but are way back from their neighbors, as not providing freehold areas to the overseas investors. Due to this there is limited real estate sector development in Sharjah. Now with the ease in foreign policy, the emirates get into the fast lane.

Sharjah Asset Management (SAM), Project Developer, estimated that the plots could be handed over to the investors by October, 2016. The project will go a long way in helping business growth in Sharjah as there is direct access to Emirates Road and close proximity to the sea and airport.

To get more updates and news related to the industrial sector in the UAE region click here.

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