11-11-2004 Sahm deploys smart homes at Dubai Marina
10-11-2004 Dubai company to showcase prime property at Mapic
06-11-2004 MAG Group to build tower in Dubailand
02-11-2004 ETA-Ascon looks at community real estate projects
01-11-2004 Addar Properties founders begin trading shares
31-10-2004 Emaar awards Dh 2.7b Dubai Mall contract
27-10-2004 Nakheel to expand Dubai Design Centre
26-10-2004 Palm Deira sales to start in a few days
23-10-2004 Nakheel issues warning over The Palm Deira realty bookings
22-10-2004 Damac offers Ramadan promotion
19-10-2004 Damac plans to venture outside UAE next year
17-10-2004 Emaar's net profit doubles to Dh1.04b
13-10-2004 Emaar delivers 5,000 homes in short time
12-10-2004 Jumeirah properties investment launches new projects
12-10-2004 Damac to build in new tower in Dubai Marina
05-10-2004 Mohammed Orders Third Palm Project
27-09-2004 Nakheel plans to recreate old world with Lost City  
25-09-2004 Hilton in talks for 600-room resort at Palm Jumeirah
25-09-2004 7,000 villas sold out in Jumeirah Village
23-09-2004 Jumeirah village to rise near a Shaikh Zayed Road
21-09-2004 Jumeirah Island project sold out
21-09-2004 Dragon Mart to open this year
21-09-2004 Burj to Boost Dubai : Mohammed
20-09-2004 Emaar to showcase Dubai Marina at Monaco event
18-09-2004 Emaar unveils Terra Nova at the Arabian Ranches upscale homes....
16-09-2004 Emaar begins work on Golf Towers
15-09-2004 Emaar offers Dubai Marina Quays
11-09-2004 Emaar launches final phase of Gazelle at Arabian Ranches
14-07-2004 Dubai Investments Park set to launch two more phases
14-07-2004 British buy out Marina Apartments in two days
14-07-2004 Discovery Gardens goes on sale
10-07-2004 Demand for Dubai's freehold residential units surges
06-07-2004 Emaar launches second phase of Gazelle project
29-06-2004 More Burj Dubai apartments released
28-06-2004 900 Palm Jumeirah units up for sale
21-06-2004 Real Estate Channel to take off
19-05-2004 If it's big, it must be Dubai !
19-05-2004 Along the cool blue waters.......Dubai Marina
19-05-2004 Inspiringly creative designs…...Emirates Hills
19-05-2004 The World right here, in Dubai!



Sahm deploys smart homes at Dubai Marina

Sahm Technologies, the technology arm of Emaar Properties, has claimed success for the implementation of the popular "smart homes" at the coastline towers of the Dubai Marina project.

The fibre optic infrastructure from Systimax Solutions provides residents with super high-speed connectivity features, supporting a broad set of technology-driven services.

"We are pleased to say that the work put into installing the infrastructure at the Dubai Marina has been a worthwhile investment. Tenants are using existing technologies in new and exciting ways, while significantly changing their traditional home environments," said Richard Jasnau of Sahm Technologies.

"The network infrastructure supports technologies that bring advanced multimedia and high-speed Internet connectivity to streamline numerous day to day tasks at the mere touch of a button. Networked homes are truly enriching homeowner's lives."

Sahm had recognised the critical need for a solid infrastructure that would connect all the buildings in the project using one common platform while supporting advanced and integrated service applications such as online banking, online grocery shopping and online medical consultation services.

The network required the implementation of a copper and fibre cabling infrastructure based on Systimax Solutions technology that would act as the core communications backbone for the smart home services. As a result all Emaar homes are connected to Sahm's network and come with all the internal cabling and sockets required to set up the home as a smart environmental living space.

The infrastructure, designed and implemented by Systimax Solutions' business partner US Telecommunication, controls about 33,000 network points in the six Dubai Marina towers, and is based on the Systimax PowerSUM Solution.

The solution provides the high connectivity bandwidth that supports intensive applications such as video streaming and allows Dubai Marina on-ground support engineers to access central control and receive alerts on any malfunctions within the network.

(Courtesy Gulf News, Dated: 11th Nov 2004)

Dubai company to showcase prime property at Mapic

Dubai: The world’s largest single-phase residential community development, Jumeirah Beach Residence, will aggressively market itself to major European retailers and investors through Mapic, one of the world’s largest annual retail real estate events.

Mapic will be held from November 17 to 19 at the Palais des Festivals in Cannes, France.

“Europe is a major source of the world’s best brands, the earth’s best retail concepts and offers a vast pool of an international clientele that could be prospective tenants of The Walk at Jumeirah Beach Resid-ence,” said Hashim Al Dabal, CEO of Estithmaar Realty, developer of Jumeirah Beach Residence.

“We are going to Cannes to aggressively market our retail and home investment opportunities. We are determined to make a major impression in the European market and we shall. Mapic will help us show our commitment to existing European partners and to win new ones,” Al Dabal added.

Nathalie de Petro, Mapic sales director, said: “At Mapic 2004, we're expecting 6,000 participants from 52 countries, who will spread out over 10,000 square metres of exhibition area.

”With a strong presence from emerging countries including the Middle East, Mapic can confirm its status as the prime international market.”

The last beachfront property in Jumeirah will be one of the major projects from the Middle East. The Dh6.2 billion Jumeirah Beach Residence sprawls across 2.33 million square metres (22 million square feet) of gross floor area covering a length of 1.7 kilometres of Dubai’s pristine Jumeirah Beach coastline — the last remaining stretch of golden seaside this side of Jebel Ali Free Zone.

The community will be self-sustaining and will cater to 25,000 people. It will feature 36 residential towers comprising 6,500 housing units and four luxury hotel towers, offering everything from upscale shopping and dining to leisure and entertainment.

(Courtesy Gulf News, Dated: 10th Nov 2004)

MAG Group to build tower in Dubailand

The property division at Dubai-based MAG Group has acquired a plot to develop a 45-storey residential tower in the City of Arabia zone at Dubailand.

Apart from the residential elements, City of Arabia — formerly known as Downtown Dubai — will encompass the Mall of Arabia, expected to be one of the world’s biggest, and a dinosaur-themed development.

At an estimated cost of Dh20 billion, Dubailand represents one of the most ambitious real estate projects in town, with multiple elements from theme parks to residential and hotel facilities.

“We are waiting for the masterplan of City of Arabia to be ready before we confirm our construction schedule for the residential tower,” said Mohammad Nimer, director at the property development department at MAG Group. “The 45-storey tower will feature about 450 apartments and, I believe, we should be ready to move by April or May.”

Meanwhile, MAG Group will shortly launch a 55-storey development at Dubai Marina. Featuring 534 units, the promoters expect an average sale price of Dh800 a square foot for the MAG 218 tower. Completion is set for the third quarter of 2007.

Another 40-storey development — MAG 214 — is under construction at Jumeirah Lake Towers. More than 75 per cent of the 312 apartments in it have been sold, with the average price pegged at Dh700 a square foot. It will be ready for occupation in the first quarter of 2007.

“In a market with multiple developers, we realise fully well that one has to be distinctive to connect with the buyer,” Nimer said.

“Apart from following all the contractual agreements with Nakheel, which is the promoter of Jumeirah Lake Towers, it is our mission statement to promise anything that cannot be delivered.

This is the best way to remain above the clutter of noises being made now about property development.

“MAG Group is only utilising class-A contractors in all of our projects.”

While the real estate division is about four years old, MAG (Moafaq Al Gaddah) Group has been active in the UAE since 1978.

It initially made its mark in the spare-parts industry before venturing into other sectors. It has 18 offices in eight countries, covering Europe, the Middle East and Africa.

On the property side, it will be launching a 55-storey tower, featuring 550 units, in Sharjah during the second half of 2005. The location is in the vicinity of Khan Lake.

(Courtesy Gulf News, Dated: 6th Nov 2004)

ETA-Ascon looks at community real estate projects

ETA-Ascon, the Dubai-headquartered business group, expects to venture into community-style real estate development in Dubai’s freehold areas.

This is being seen as a logical second stage evolution for its property division, ETA Star.

“Community-style developments have really caught on in Dubai in such a big way, and offer the developer a good proposition,” said Abid A. Junaid, executive director of Associated Constructions & Investments Co, itself part of ETA-Ascon.

“For such developments, we are thinking about freehold, not necessarily leasehold. So far, our projects have been standalone towers, and a few villa developments at Emirates Hills.”

The group already has four towers under development at Dubai Marina, Jumeirah Lake Towers and the Dubai International Finance Centre respectively, which represents assets of well over Dh1 billion.

The 34-storey Tower Palladium at Jumeirah Lake Towers has been substantially sold out and will be ready for delivery by late 2006 or early 2007.

A 60-unit tower at Dubai Marina, The Belvedere, has also been fully booked. Units at another two towers will be put to sale before the end of the year and will feature 600 apartments. Again, the completion is set for the first quarter of 2007.

The group could tap the local structured finance market to part finance its projects. Talks are on and the financing is likely to be completed during the first quarter of 2005. “ETA-Ascon has been an early entrant into Dubai’s freehold sector and had booked plots on all the major developments,” said Junaid.

“But we feel now is the perfect time to launch our portfolio into the market as there is a clear upward trend in real estate market dynamics.”

The expansion of its property interests in Dubai could now be a springboard for some of the other Gulf states as well, the official added. Bahrain is a likely candidate.

ETA-Ascon has developments totalling around 8 million square feet in the Indian metropolises of Chennai and Bangalore.

“This includes a shopping mall of 300,000 square feet in Chennai. Construction is on schedule and it should be ready for launch in June 2006,” said Junaid.

“Bangalore is another market where we have an extensive land bank through our investments in the Binny Group. Now, we have launched a residential project titled Binny Stone Gardens.

“India represents further opportunities, but right now we have concentrated our strengths on Chennai and Bangalore.”

(Courtesy Gulf News, Dated: 2nd Nov 2004)

Addar Properties founders begin trading shares at premium even as IPO opens

With the Dh825 million IPO of Addar Properties barely having opened, the company's founders have already begun trading their shares at a premium through brokers. Such transactions are not deemed illegal as per the law, experts said.

Some 45 per cent of the Dh1.5 billion share capital of Addar has been subscribed to by founders, mostly from Abu Dhabi and the northern emirates. A couple of transactions between founders have been brokered since yesterday at a premium of about 200 per cent, brokers confirmed, expecting more such transactions in the coming days.

"Three transactions between founders were conducted by us, some selling at Dh3 per share," a leading broker told Gulf News yesterday.

Similarly another broker said his firm undertook three transactions between founders, all at a premium. Although it is risky to trade in shares before allotment takes place, such transactions have taken place in the past. "It is based on trust, and a lot of share dealings anyway take place on the over-the-counter (OTC) exchange. We have not heard any case of cheating in so many years," a long-standing broker said.

"Besides, within a month the company will be incorporated and the shares will be in the name of the true owner," he added.

As per the law, a founder of the company can sell shares to another founder or director of the board of the same company. However, a founder has to wait for two years to sell to a non-founder. The demand and premium on the shares of Addar Properties is indicative of investor appetite as well as the massive liquidity in the UAE.

Investor response continued to be lukewarm on the second day of the IPO and is expected to gain momentum in the last few days.

(Courtesy Gulf News, Dated: 1st Nov 2004)

Emaar awards Dh 2.7b Dubai Mall contract

DUBAI - Emaar Properties has named Dutco Balfour Beatty-Al Ghandi & Consolidated Contractors International Company (DBB-AG & CCC) as main contractors for The Dubai Mall, a part of the company's Burj Dubai Development.

The Dh2.7 billion contracts is for the construction of the world's largest retail development comprising 12 million square feet of total space and 5 million square feet of total retail space. The project is expected to be completed by 2007.

Turner Construction International is Emaar's project manager for The Dubai Mall. DPA Singapore is the mall's architect while Meinhardt is the engineering consultant.

“Emaar has signed the joint venture partnership of DBB-AG & CCC to be their main contractors in the development of The Dubai Mall. Dutco Balfour Beatty has proved its merit on a number of our projects currently in various stages of development and we feel they have the capacity to deliver,” said Issam Galadari, Executive Director Projects, Emaar Properties. ”We will also shortly be nominating contractors for the Mall's mechanical, electrical and plumbing works,” he said.

The Burj Dubai development will incorporate, among other things the world's tallest tower, the world's largest retail development, a vast man-made lake, a distinctive landscaped park, a boulevard to match the best in the world, an upscale residential complex, a seven-star boutique hotel and a town that takes residents back into the Arabia of old.

“This is no ordinary Mall. There are design elements that will require great expertise. Our designers and engineers have ensured all factors flow in tandem with the overall design, look and feel of this unique mall which is indeed going to offer a lifestyle experience which goes beyond mere shopping,” he said.

The Dubai Mall boasts many attractions including the world's largest indoor Gold Souq, several food courts, Waterfront Atrium, Fountain Oasis, a dedicated high fashion area, Olympic sized ice-rink, The Aquarium and Kiddy Land. Landscaped gardens and parklands with water features will add to the charm of The Mall.

In terms of convenience, some 15,000 parking spaces are planned. On completion, The Dubai Mall expects to attract 35 million visitors in the first full year of business, with a continuing growth of 20 to 30 per cent a year.

“People will choose The Dubai Mall for wholesome family entertainment as well as for an exclusive shopping experience. The tourists will choose The Dubai Mall because it represents what Dubai stands for: a global city with a global vision, Issam added.

Since the opening of The Dubai Mall Leasing Centre in June this year, Emaar has received an overwhelming response from international and regional retailers who want to be part of its unrivalled retail environment, which will be home to the globe's most esteemed brand names. More than 40 per cent of the Mall's retail concepts will be new to this region.

(Courtesy Khaleej Times, Dated: 31th Oct 2004)

Nakheel to expand Dubai Design Centre

Nakheel has announced plans to expand Dubai Design Centre (DDC), the hub for traders and retailers that offers a range of home furnishing and construction solutions at its International City.

The expansion at the DDC will now take the total area of the development to 13 million square feet with a net prime retail space of 5.7 million square feet, the rest of which is being used to create additional amenities for customers, tenants and patrons from the GCC and the Middle East.

Sultan Ahmad Bin Sulayem, executive chairman, Nakheel, said: "Dubai Design Centre answers the region's call for an integrated market space that is exclusively dedicated to offering every conceivable solution in home furnishing.

"The development is the first and only port of call for real estate and property developers in the UAE, the rest of the GCC and the Middle East region who are looking for world class furnishing accessories and building materials."

The DDC is located in Al Warsan. The 4.2 kilometre frontage of the project lies adjacent to the Emirates Road.

"The Dubai Design Centre is strategically located in the International City development, lying in close proximity to many of the signature property developments taking shape in the New Dubai area," said Bin Sulayem.

The DDC is spread across several zones offering showroom space for products that are clubbed together according to category.

These areas are lined up in the elongated 'U' shape of the development with each Zone providing customers choices in furniture, beddings, lounges, tables, general homeware, garden décor, carpets, fabrics, artwork, electrical and white goods, home entertainment products, lighting and fittings, electrical appliances, air conditioning and hot water, etc.

In addition, the centre features office blocks providing 80,000 square metres of prime office space and a business centre, offering integrated conferencing and business related solutions to the tenants of the project.

The centre will also host a three and a four star hotel, two food courts, as well as an entertainment section.

"The DDC in coming years will be nodal point for the construction and real estates development activity in the region, with global industry leaders already showing interest in the project as their hub to service the GCC and the Middle East region," Bin Sulayem added.

A 10,000 square metre retail plot is planned to be added to the centre. Due to extensive length of the project, the 20-metre wide internal corridors will have a number of moving walkways.

An external shuttle service is planned within the project to double up as a mass transit system. A public car parking facility intended for approximately 18,000 cars will occupy the entire lower level of the development.

(Courtesy Gulf News, Dated: 27th Oct 2004)

Palm Deira sales to start in a few days

The sale of freehold units on the latest Palm island project will start in a matter of days, according to Sultan Ahmad Bin Sulayem, chairman of Nakheel.
The masterplan and the financial details for The Palm Deira, announced earlier this month, are being finalised."All the preparatory work for sales to start on The Palm Deira is being completed, and it should be formally launched to the market in days," said Wahid Attalla, executive director, commercial and operations, Nakheel.
The project has already built up sufficient interest in the marketplace as interest for freehold property, both internal and international, shows no signs of abating in Dubai.

"There has been a lot of talk in the market that we have mandated certain companies to represent us on the sales," Attalla said.

"Nakheel has said it before and I would like to say it again that no one has been mandated by us so far to sell units on the new project.

"These issues will be taken care of in the next few days," he said.

(Courtesy Gulf News, Dated: 26th Oct 2004)

Nakheel issues warning over The Palm Deira realty bookings

Nakheel has announced that bookings for properties on The Palm Deira will be handled only by its sales office. It has issued a warning that real estate agencies and brokers offering to make bookings on the development are misleading the public.

Nakheel has clarified that bookings for Dubai's third man-made island off the coast of Deira have not yet begun.Announcement about the launch of the sales of properties on the new Palm would be made at an appropriate time.

The Palm Deira project was announced recently by General Shaikh Mohammad bin Rashid Al Maktoum, Crown Prince of Dubai and UAE Defence Minister.Local and international investors have started exploring the option of booking properties on the new Palm.

"The announcement of The Palm Deira has enhanced Nakheel's position as the foremost developer of iconic projects. We are currently busy with the work of adding innovative components to the new Palm, in an effort to offer something refreshingly different and beautiful, in line with our mission to create landmarks that will stand out on the global property map," said Sultan Ahmad bin Sulayem, executive chairman, Nakheel.

(Courtesy Gulf News, Dated: 23th Oct 2004)

Damac offers Ramadan promotion

Damac Properties will give customers who buy an apartment during Ramadan and Eid Al Fitr, a one-in-10 chance to win half a million dirhams.
The campaign will also benefit charity as 10 per cent of each Dh500,000 purse of prize money will be paid in the winner’s name to humanitarian organisations.

Hussain Sajwani, chairman of Damac Properties and the group, said the promotion comes in the charitable spirit of Ramadan, and under the umbrella of the Dubai the City that Cares 2004 festival being organised by the government of Dubai through the Dubai Chamber of Commerce and Industry.

(Courtesy Gulf News, Dated: 22th Oct 2004)

Damac plans to venture outside UAE next year

Damac Group, the developer of upscale residential properties, will venture outside the UAE for the first time next year, chairman Hussain Sajwani said.

The group is looking at some of the other Gulf markets, which are now opening up select property developments to investors of all nationalities.

“We already have a management team in place looking at the right overseas opportunity,” Sajwani said.

“A final decision will rest on the issue of land regulations and the right location. “There are three contributory factors aiding the property market in the region — the strong oil prices giving a boost to the economies, the growth in population and within that the sizeable numbers of the young who are looking to acquire their first homes.” Having built up sufficient momentum in the local market, Dubai’s leading developers are now looking at a pan regional role, and even beyond.

Emaar Properties already has projects in India and, recently, added Jordan to its network.In Dubai, the Damac Group has 11 towers in various stages of development, with the first of them - Marina Towers — ready for occupation during the first half of next year.

More than 80 per cent of the units at the 11 towers have been acquired by investors. These are located at Dubai Marina, Jumeirah Lakes Towers, The Palm islands and Dubai International Finance Centre.

On the pricing policy for its units, Sajwani said: “Since the launch of the first tower two years ago, the selling price has gone up by an estimated 30 per cent.” “But balancing this is the increase in the land prices and, more recently, the construction costs.”

Meanwhile, Damac Group will look to any opportunity to expand its presence in the insurance sector, the official added.

Recently, it acquired a 42 per cent stake in Bahrain- based Al Ahlia Insurance. Sajwani is also chairman of its board. “We are more than pleased with the gains made from this investment. Damac has been looking at opportunities in the insurance sector for the last four years,” Sajwani said.

“With regard to Al Ahlia Insurance, our association is for the long-term. We feel there is a good fit between our interests in real estate development and insurance.” Al Ahlia Insurance, which lists Gulf Air among its clients, is now aiming to enter new markets within the Gulf.

(Courtesy Gulf News, Dated: 19th Oct 2004)

Emaar's net profit doubles to Dh1.04b

Emaar Properties, the region's largest developer of lifestyle properties, took the market by surprise yesterday when it announced net earnings of Dh1.039 billion for the first nine months of this year, up an impressive 107 per cent from the Dh503 million recorded in the corresponding period last year.
The seven-year-old company has also set a record for revenues, which grew 59 per cent to Dh3.808 billion from Dh2.392 billion in the same period last year.According to brokers at the Dubai Financial Market (DFM), the results come close to market expectations for the whole year.

Emaar, the only UAE listed company to be featured on the Dow Jones Arabia Titans Index, reported an impressive 107 per cent growth in net profit since the nine-month net earnings in the previous year were to the tune of Dh503 million.

In annualised terms, this equates to an earnings per share (EPS) of Dh0.523, up from Dh0.270 for 2003.The third quarter period saw the official launch of Burj Dubai, which is expected to be the tallest building in the world.

The pouring of the first cement for the world's tallest residential building was witnessed by General Shaikh Mohammad Bin Rashid Al Maktoum, Crown Prince of Dubai and UAE Minister of Defence.

Mohammad Ali Al Abbar, chairman of Emaar Properties, said: "Our third quarter results demonstrate that the company is sustainably growing from strength to strength. The company is also moving forward on several strategic initiatives."

(Courtesy Gulf News, Dated: 17th Oct 2004)

Emaar delivers 5,000 homes in short times

Emaar Properties has delivered 5,000 homes in a short span of time and will cross the magic figure of 8,000 homes delivered before the December of the current year.
The residential units already handed over represent over 10 million square feet of liveable space in The Springs, The Greens, The Dubai Marina, Emaar Towers and The Meadows, the five most popular Emaar communities that have attracted buyers from the region and across the world.

"We're harnessing powerful resources to achieve some extraordinary results in handing over lifestyle homes to owners this season," said Ahmad Al Falasi, senior manager, Emaar Procperties.

"As the year comes to a close, and at the current rate of property handovers, we hope to cross the landmark figure of 8,000 homes. Emaar currently has over 15,000 homes that are either occupied by happy homeowners or under several stages of development.

"It makes Emaar Properties the only property developer to deliver on its commitments and we've only just begun! This track record will be hard to emulate not only in the country, but perhaps the region."

(Courtesy Gulf News, Dated: 13th Oct 2004)

Construction will start this year and the tower will have the prime position on the first plot at the Jumeirah Lake Towers development, a venture from Nakheel.Jumeirah Lake Towers consists of 78 towers set among lakes, waterways, a well planned road network, parking, shopping boulevards and landscaped gardens.The tower will be located between the fifth and sixth interchange on Shaikh Zayed Road.

Soaring to 35 floors, Indigo Tower offers eight floors of office space and 23 floors of residential apartments to UAE, GCC nationals and expatriates. Apart from its A shaped structural design and extensive use of indigo coloured glass complementing a silver grey exterior, the development boasts over-sized studio apartments and one-, two- and three-bedroom apartments.

"We are extremely excited to be launching this building, a master community development of Nakheel, at Jumeirah Lake Towers," said David Heffernan, director, Jumeirah Properties Investment Ltd, the developers behind Indigo Towers.

The project will include a fully equipped gymnasium, steam room, lap pool jacuzzi, juice bar, a coffee shop, shopping boulevard, 24-hour security, covered parking and six high speed lifts three for the residential floors and three for the commercial floors. Residents and commercial tenants will have separate entrances to the building and all owners will be entitled to a residence visa.

Jumeirah Lake Towers is a high rise waterfront commercial and residential development by Nakheel, comprising 26 clusters, each with three towers.

(Courtesy Gulf News, Dated: 12th Oct 2004)

Damac to build new tower in Dubai Marina

Damac Properties yesterday announced the launch of Ocean Heights, a 50-storey tower in the Dubai Marina development, taking the number of apartment towers in its portfolio to 11.
The construction of the tower is already underway, with the piling nearing completion.Ocean Heights is expected to be completed by the end of 2006.

"Ocean Heights is a major milestone for us. We now have a total of eight projects comprising eleven buildings, since two of these projects are made up of two adjacent towers," said Peter Riddoch, chief executive officer.

(Courtesy Gulf News, Dated: 12th Oct 2004)

Mohammed Orders third Palm Projects

General Shaikh Mohammad Bin Rashid Al Maktoum, Crown Prince of Dubai, and the UAE Minister of Defence, yesterday ordered a third Palm project to be set up off Deira to meet increasing requirements of investors, particularly those who could not manage to invest in the two Palm projects in Jumeirah and Jebel Ali.
The initiative was revealed by Shaikh Mohammad during his hour-long tour yesterday to the World and Palm projects located off the Jumeirah coast, after which he expressed satisfaction at the success of the projects.

(Courtesy Gulf News, Dated: 05th Oct 2004)

Nakheel plans to recreate old world with Lost City

Dubai: Nakheel has launched the 'Lost City', which aims to recreate a series of old lost cities from the ancient world that was discovered after centuries of them being lost and forgotten. Properties in the Lost City are going on sale today.

Sultan Ahmad Bin Sulayem, chairman of Nakheel, said: "As the leading property developers in the region, Nakheel, with the Lost City project is offering the investors a unique opportunity to own a piece of history in Dubai.

"The Lost City in the form of villas, town houses and apartments, complete with old elevations from the different regions it inspires, recreates legendary old lost cities of the ancient world to suit a wide variety of customer tastes, needs, preferences and income brackets.

"The buildings inside The Lost City will most accurately reconstruct the elevations used in the construction of houses, reflecting the splendour of old style of architecture. To ensure this accuracy, Nakheel has sent its engineers to several archaeological sites in the regions that were part of this old world, to study the styles, street plans, layouts and materials used in construction of those ancient villages and houses."

The mixed residential and retail development will house two to four bedroom villas, townhouses and apartments, whose construction is inspired by the old styles of architectural traditions that date back a millennia.

The two, three and four bedroom villas, townhouses and apartments in The Lost City are constructed and organised over five distinct village areas.

Each of the five village areas, The Lost City Hotel Village, The Souq Village, The Gateways Village, The Gardens Village and The Hilltop village, will retain a distinct sense of identity.

Investors can choose between a variety of elevations for their villas and townhouses, from ancient Jordanian to the old Egyptian theme or from predominant construction styles that was used in ancient Iraq, Syria, Lebanon, Palestine which are considered part of the Fertile Crescent, in addition to old themed elevations from the Arabian Peninsula and lands as far away as Morocco and Mongolia.

"The old Islamic style of architecture has produced some of the gems of ancient buildings from the Alhambra in Spain to the poetic Taj Mahal in India. The amenities of The Lost City, with deluxe construction and well appointed décor in style, will have the old authentic taste deeply embedded in the psyche of old architectural traditions and are highlighted in the souqs and residential areas.

"The Lost City is Nakheel's tribute to this glorious tradition, whose rich vocabulary has created those magnificent symbols of permanence, stability and tradition," Bin Sulayem added.

The new development will be located in a 560-hectare area in Jebel Ali, at the intersection of the Military Road and Emirates Road, lying adjacent to Nakheel's other signature developments, The Gardens Shopping Mall and Discovery Gardens.

(Courtesy Gulf News, Dated: 27th Sep 2004)

Hilton in talks for 600-room resort at Palm Jumeirah

Dubai : Al Moosa Group, Hilton International's development partner in Dubai, is negotiating for a 600-room resort at the Palm Jumeirah, said a top official of the brand's regional operations.

This is going to be part of the brand's expansion plan in the region, which will see additional properties being launched in strategic locations in various cities, including Dubai and Muscat.

Private Property Management, another development partner, has shortlisted bidders for project management consultancy for a Dh550 million, 350-room Conrad Dubai Hotel, Hilton's deluxe brand of hotels. The hotel will be located on a plot between Fairmont Hotel and API World Tower on Shaikh Zayed Road.A main contractor for the project is expected to be chosen during the first half of next year. Site work for the project will start in July with completion set for 2007.

Hilton has 33 hotels in the Middle East and one Conrad brand in Cairo. Conrad Dubai will be the second Conrad in the region.

Hilton is finalising a deal with the Jumeirah Beach Residence for a 290-room executive apartment complex, that will be linked to its existing hotel, Hilton Jumeirah Beach, with a bridge. It is also negotiating some new projects at the Dubai International Financial Centre and Dubailand.Hilton has also identified the serviced apartment business as part of its strategic growth plan.

Meanwhile, the hotel industry is experiencing strong growth in the region, due to higher international arrivals this year.

"After the twin crises of SARS and war in Iraq, traffic has come back strongly," Rudy S.K. Jagersbacher, Hilton International's vice-president for Arabian Peninsula, told Gulf News in an exclusive interview. "Our hotel and the rest of the hotel industry has had a very good year so far. Real Estate Property

(Courtesy Gulf News, Dated: 25th Sep 2004)

7,000 villas sold out in Jumeirah Village

Dubai : More than 7,000 villas and townhouses in the Jumeirah Village, developed by Nakheel, were sold out in one day since the project was launched last Thursday, according to a statement from the company.

Buyers from the UAE and the GCC region snapped up the project's spacious two and three bedroom villas, and the one and two bedroom townhouses, which are to be constructed among distinct landscaping in classic Arabic and Mediterranean architectural styles.

An additional 1,000 villas and townhouses, which were due to be released at the second phase expansion of Jumeirah Village, were also sold out with the initial offering of 6,000 villas, owing to the huge interest shown by the investors in owing property at the development. Sultan Ahmed Bin Sulayem, chairman of Nakheel, said, "We are certainly overwhelmed by the response to Jumeirah Village from the investors who were keen to own property in the project." Jumeirah Village is the latest self sustained community development by Nakheel that promotes an idyllic village lifestyle set amidst pristine surroundings and unsurpassed leisure and lifestyle amenities.

Sulayem said with the complete sale of properties in the development, Jumeirah Village joins a distinguished portfolio of Nakheel projects that were lapped up in record time. "Properties on The Palm Jumeirah were completely sold out in 72 hours. Similarly, properties on other iconic Nakheel projects such as The Palm Jebel Ali, Jumeirah Islands, Jumeirah Lake Towers and International City were also sold to high profile investors from all over the world," he added.