Falling demand leading to low rentals in northern emirates
Sunday, February 21, 2010
";
The rents in the northern emirates have dropped considerably since 2009, given, the fresh supply and low demand. Even the lease rates have dropped 29 percent during the first half of 2009, says a CB Richard Ellis market report.
The trend is likely to continue into first half of 2010, due to weakening demand and huge supply from within the northern emirates and the border areas of Dubai, such as Muhaisanah, Al Nahda and Al Ghusais.
The demand is low or almost non-existent in the market, although the rental market is witnessing some movement, particularly from tenants seeking better quality property, said Mohanad Al Wadiya, Managing Director, Harbour Real Estate.
The maximum decline in rentals was noticed in the case of single bedroom apartments, which dropped 34 percent, while double and triple bedroom apartments dropped 29 percent and 25 percent respectively. This drop may be largely due to people opting for larger flats with lower rent on the offer in comparison to previous months.
Ajman and Ras Al Khaimah also witnessed drop in values by 50 percent or more for off-plan properties. The gaps between rental rates, however, remained the same among various northern emirates. Sharjah continued to demand highest rates, followed by Ras Al Khaimah, Ajman, Fujairah and finally Umm Al Quwain, the most affordable northern emirate.
Among these emirates, Ras Al Khaimah is witnessing maximum progress, while Sharjah and Ajman are on hold or are progressing very slowly.
Al Hamra Village is the only project with 90 percent completion rates, and 80 percent occupancy, with only one residential tower remaining to be completed in front of the resort. The rate at the Ras Al Khaimah's Al Hamra village is 30 to 35 percent higher, in comparison to other developments in the region.
Also, the Bab Al Bahr project on Al Marjan Island, a sister development of Al Hamra Village, by Rakeen Properties, is also progressing on schedule. The first and second phases of the project are complete, while the third and fourth phases are nearing completion.
Even La Hoya Bay project by Khoie Properties, now undertaken by Rakeen, is being developed for delivery by 2011.
The Mina Al Arab development, the Pacific, all located at the Al Marjan Island is also due for delivery in 2011.
With more residents opting to move to border areas of Dubai, where there is better quality stock and competitive lease rates, the leasing rates across the northern emirates continue to decline in 2010, Al Wadiya said.
To add to this, high percent of residential accommodation is offered by the northern emirates, and this has stemmed from their fast-growing southern neighbour (Dubai), and this helped excessive expectations for new units, said Mat Green, Associate Director, CBRE - Middle East.
To prevent this exodus, landlords in the northern emirates are now offering rent-free periods of up to one or two months, free chiller, free parking spaces, and more such incentives, it is said.
The trend is likely to continue into first half of 2010, due to weakening demand and huge supply from within the northern emirates and the border areas of Dubai, such as Muhaisanah, Al Nahda and Al Ghusais.
The demand is low or almost non-existent in the market, although the rental market is witnessing some movement, particularly from tenants seeking better quality property, said Mohanad Al Wadiya, Managing Director, Harbour Real Estate.
The maximum decline in rentals was noticed in the case of single bedroom apartments, which dropped 34 percent, while double and triple bedroom apartments dropped 29 percent and 25 percent respectively. This drop may be largely due to people opting for larger flats with lower rent on the offer in comparison to previous months.
Ajman and Ras Al Khaimah also witnessed drop in values by 50 percent or more for off-plan properties. The gaps between rental rates, however, remained the same among various northern emirates. Sharjah continued to demand highest rates, followed by Ras Al Khaimah, Ajman, Fujairah and finally Umm Al Quwain, the most affordable northern emirate.
Among these emirates, Ras Al Khaimah is witnessing maximum progress, while Sharjah and Ajman are on hold or are progressing very slowly.
Al Hamra Village is the only project with 90 percent completion rates, and 80 percent occupancy, with only one residential tower remaining to be completed in front of the resort. The rate at the Ras Al Khaimah's Al Hamra village is 30 to 35 percent higher, in comparison to other developments in the region.
Also, the Bab Al Bahr project on Al Marjan Island, a sister development of Al Hamra Village, by Rakeen Properties, is also progressing on schedule. The first and second phases of the project are complete, while the third and fourth phases are nearing completion.
Even La Hoya Bay project by Khoie Properties, now undertaken by Rakeen, is being developed for delivery by 2011.
The Mina Al Arab development, the Pacific, all located at the Al Marjan Island is also due for delivery in 2011.
With more residents opting to move to border areas of Dubai, where there is better quality stock and competitive lease rates, the leasing rates across the northern emirates continue to decline in 2010, Al Wadiya said.
To add to this, high percent of residential accommodation is offered by the northern emirates, and this has stemmed from their fast-growing southern neighbour (Dubai), and this helped excessive expectations for new units, said Mat Green, Associate Director, CBRE - Middle East.
To prevent this exodus, landlords in the northern emirates are now offering rent-free periods of up to one or two months, free chiller, free parking spaces, and more such incentives, it is said.
Labels: Ajman, Leasing, Ras Al Khaima, Rentals
Rents for Burj Khalifa units to outdo other established highrises
Tuesday, January 19, 2010
";
The lease rates for units at Burj Khalifa, the world's tallest tower, are yet to be established, although analysts believe that the rental rates for commercial spaces in the tower will easily surpass the prevailing rates in other established high-rise buildings of the world, such as those of Petronas Towers in Kuala Lumpur or the Sears Tower at Chicago, United States.
The world's tallest tower spreads across Dh.600 per sq. ft. on an average, which is double that of other competing high-rises across the world, said Porush Jhunjuwala, Manager, Commercial Leasing at Better Homes.
The average price of offices across the world falls in the range of $30 to $40 per sq. ft. and in iconic towers such as the petronas in Kuala Lumpur and the Sears in Chicago it is about $60 and $85 respectively.
As far as Burj Khalifa is concerned, rentals will be based on demand and supply in the tower. Several large corporates have shown interest in the prestigious tower and have enquired for office space. However, it is too early to arrive at a definite rental amount what the tower is likely to command, said Jhunjuwala.
The height of the storey in which the unit is located, will be a major factor in determining the commercial rent value. The expected premium should be about 5 percent higher with the increase in height of each storey, he said.
Another main factor to determine the rent will be the service charges, which again, are yet to be cleared at the moment. Further, even service charges for the offices, form an important component of the rent, which also needs consideration, he said.
The selling prices of residential units are likely to appreciate soon, with delivery dates set from next month onwards. At present, the apartments will draw an average sale price of Dh.3500 to Dh.5000 per sq. ft. However, with the delivery of more apartments there will also be an improvement in the achievable sales prices, says Vineet Kumar, Head-Sales, Asteco, the leading property management firm.
Currently, the office space demands an average selling price of Dh.6000 per sq. ft. to Dh.7500 per sq. ft., he said. The units on the higher floors will obviously go for a higher price attracting a premium of about 15 percent in selling prices for higher storeys.
The world's tallest tower spreads across Dh.600 per sq. ft. on an average, which is double that of other competing high-rises across the world, said Porush Jhunjuwala, Manager, Commercial Leasing at Better Homes.
The average price of offices across the world falls in the range of $30 to $40 per sq. ft. and in iconic towers such as the petronas in Kuala Lumpur and the Sears in Chicago it is about $60 and $85 respectively.
As far as Burj Khalifa is concerned, rentals will be based on demand and supply in the tower. Several large corporates have shown interest in the prestigious tower and have enquired for office space. However, it is too early to arrive at a definite rental amount what the tower is likely to command, said Jhunjuwala.
The height of the storey in which the unit is located, will be a major factor in determining the commercial rent value. The expected premium should be about 5 percent higher with the increase in height of each storey, he said.
Another main factor to determine the rent will be the service charges, which again, are yet to be cleared at the moment. Further, even service charges for the offices, form an important component of the rent, which also needs consideration, he said.
The selling prices of residential units are likely to appreciate soon, with delivery dates set from next month onwards. At present, the apartments will draw an average sale price of Dh.3500 to Dh.5000 per sq. ft. However, with the delivery of more apartments there will also be an improvement in the achievable sales prices, says Vineet Kumar, Head-Sales, Asteco, the leading property management firm.
Currently, the office space demands an average selling price of Dh.6000 per sq. ft. to Dh.7500 per sq. ft., he said. The units on the higher floors will obviously go for a higher price attracting a premium of about 15 percent in selling prices for higher storeys.
Labels: Burj Dubai, Burj Khalifa, Leasing
DIP announces leasing of Single Business Tower in Dubai
Monday, December 28, 2009
";
The Dubai Investment Properties (DIP), one of the leading property developers in the UAE, has announced that they have begun the leasing process of their latest commercial development, Single Business Tower.
The Company is leasing 248 office units and 7 retail units at their new business tower in Sheikh Zayed Road.
The Property Manager of Single Business Tower, Ani Vladi, said that the Single Business Tower has been completed much ahead of scheduled date, and given its central location, elegant façade and state-of-the-art interior, it will be the ideal business location for companies seeking brand recognition.
The building incorporates energy efficient and self-sustaining features, with 248 modern offices and retail spaces spread across its 45 storeys. The green building guidelines have been followed to ensure energy efficiency, the big French windows help in capitalizing natural lights, while glass panels help divert heat and minimizes A/C consumption.
The Single Business Tower also has advanced security and fire protection systems that ensure security of tenants at all times.
Offices within the tower are designed to ensure maximum functionality and space efficiency. Several amenities and service outlets have been added to compliment a functional business environment.
This, together with round-the-clock management services, ample parking space, proximity to the Business Bay metro station, and stunning views of Arabian Sea and Burj Dubai, will make it an attractive option for business seeking to establish their main branch offices in the region.
Apart from premium office and retail space, the tower offers reception and concierge services to tenants, a fully furnished conference room, prayer rooms, business lounge, separate gymnasiums for men and women, a multi-level car park for tenants, business services, and other facilities management services.
The Dubai Investment Properties (DIP), one of the leading property developers in the UAE, has announced that they have begun the leasing process of their latest commercial development, Single Business Tower.The Company is leasing 248 office units and 7 retail units at their new business tower in Sheikh Zayed Road.
The Property Manager of Single Business Tower, Ani Vladi, said that the Single Business Tower has been completed much ahead of scheduled date, and given its central location, elegant façade and state-of-the-art interior, it will be the ideal business location for companies seeking brand recognition.
The building incorporates energy efficient and self-sustaining features, with 248 modern offices and retail spaces spread across its 45 storeys. The green building guidelines have been followed to ensure energy efficiency, the big French windows help in capitalizing natural lights, while glass panels help divert heat and minimizes A/C consumption.
The Single Business Tower also has advanced security and fire protection systems that ensure security of tenants at all times.
Offices within the tower are designed to ensure maximum functionality and space efficiency. Several amenities and service outlets have been added to compliment a functional business environment.
This, together with round-the-clock management services, ample parking space, proximity to the Business Bay metro station, and stunning views of Arabian Sea and Burj Dubai, will make it an attractive option for business seeking to establish their main branch offices in the region.
Apart from premium office and retail space, the tower offers reception and concierge services to tenants, a fully furnished conference room, prayer rooms, business lounge, separate gymnasiums for men and women, a multi-level car park for tenants, business services, and other facilities management services.
Labels: Commercial Property, Leasing, Office Space, Sheikh-Zayed-Road
Property location gaining prominence over rents in Dubai
Thursday, October 22, 2009
";
Asteco, leading property services Company in the UAE, has confirmed that Dubai Metro will play a major role in office lease market.
With falling lease rates and availability of more new buildings in Dubai, office location is gaining more prominence, rather than the price, in determining where a company establishes its business, Asteco says.
The decline in property market will help in re-positioning Dubai, as an attractive business location, giving companies the ability to shop around for the best value for money. Offices offering excellent amenities for staff, will be the first to benefit, says Elaine Jones, CEO of Asteco.
Evidence from several international markets has also constantly revealed that land and property values and rentals, within the vicinity of stations, linked to metro lines are increasing considerably (almost 57 percent in the case of Tokyo-Kobe line in Japan). But, the increases do not work until the station is physically open, and not on just announcing the probable date of opening or when under construction.
As for property matters, it is always location that matters. If located close to a Metro station and a shopping mall with ample parking space, it will easily become the preferred option, says Jones. With more Metro stations being opened and people getting aware about its benefits, the ease of commuting by Metro will prove to an important factor when a company decides on re-location.
The RTA has confirmed that Ibn Battuta Metro will open by February 2010. Phase one of the Ibn Battuta Gate mixed-use development is managed by Asteco Property Management, on behalf of ‘Seven Tides’, the Dubai-based owners.
Located at the heart of the new residential and commercial corridor in Dubai, the Ibn Battuta Gate is within 400 metres of a Metro station, due to open soon. It will offer direct access to commercial business, heart of the Jebel Ali free zones and Dubai Marine, Jumeirah Lake Towers, Dubai Financial Center, Internet and Media City, Central Dubai and Dubai World Trade Center.
With falling lease rates and availability of more new buildings in Dubai, office location is gaining more prominence, rather than the price, in determining where a company establishes its business, Asteco says.
The decline in property market will help in re-positioning Dubai, as an attractive business location, giving companies the ability to shop around for the best value for money. Offices offering excellent amenities for staff, will be the first to benefit, says Elaine Jones, CEO of Asteco.
Evidence from several international markets has also constantly revealed that land and property values and rentals, within the vicinity of stations, linked to metro lines are increasing considerably (almost 57 percent in the case of Tokyo-Kobe line in Japan). But, the increases do not work until the station is physically open, and not on just announcing the probable date of opening or when under construction.
As for property matters, it is always location that matters. If located close to a Metro station and a shopping mall with ample parking space, it will easily become the preferred option, says Jones. With more Metro stations being opened and people getting aware about its benefits, the ease of commuting by Metro will prove to an important factor when a company decides on re-location.
The RTA has confirmed that Ibn Battuta Metro will open by February 2010. Phase one of the Ibn Battuta Gate mixed-use development is managed by Asteco Property Management, on behalf of ‘Seven Tides’, the Dubai-based owners.
Located at the heart of the new residential and commercial corridor in Dubai, the Ibn Battuta Gate is within 400 metres of a Metro station, due to open soon. It will offer direct access to commercial business, heart of the Jebel Ali free zones and Dubai Marine, Jumeirah Lake Towers, Dubai Financial Center, Internet and Media City, Central Dubai and Dubai World Trade Center.
Labels: Leasing, Office Space
DPG announces leasing of villas in Shorooq
Thursday, September 17, 2009
";
Dubai Properties Group (DPG), a member of Dubai Holding, has announced that it would begin leasing a diverse section of spacious villas in Shorooq.
Located in the heart of Mirdiff, the new development is one of the most sought-after communities for families in the emirate.
Shorooq is a unique alternative to high-rise living, offering families the security of a high-end community, away from the hustle-bustle of the city.
Shorooq is easily accessible from arterial highways Al Khail Road and Emirates Road, and is conveniently located adjacent to Rashidiya Metro Station, and the Dubai International Airport. The family-friendly development also offers easy access to schools, shopping centers, including the popular Uptown Mirdiff and the new Mirdiff City Center Mall.
The delivery of Shorooq units meets considerable requirement for affordable, family-sized units and offers a range of leasing options, said Khalid Al Malik, CEO of Dubai Properties Group.
There are about 350 villas that are now available for lease, including three-bedroom and four-bedroom villas. The introductory promotional packages will be offered during initial stages of leasing.
The Dubai Properties Group is currently leasing out residential and commercial units at Cordoba Villas, Jumeirah Beach Residence, Al Khail Gate, Al Razi Residence, Al Waha, and the Office Park at Dubai Internet City.
The Group has also announced plans to showcase its landmark developments due for handover during this year's Cityscape Dubai 2009, to be held at the Dubai International Convention and Exhibition Center between 5th and 8th October.
Among the projects to be featured are The Executive Towers, Vision Towers, Shorooq, Al Waha and The Villa.
Located in the heart of Mirdiff, the new development is one of the most sought-after communities for families in the emirate.
Shorooq is a unique alternative to high-rise living, offering families the security of a high-end community, away from the hustle-bustle of the city.
Shorooq is easily accessible from arterial highways Al Khail Road and Emirates Road, and is conveniently located adjacent to Rashidiya Metro Station, and the Dubai International Airport. The family-friendly development also offers easy access to schools, shopping centers, including the popular Uptown Mirdiff and the new Mirdiff City Center Mall.
The delivery of Shorooq units meets considerable requirement for affordable, family-sized units and offers a range of leasing options, said Khalid Al Malik, CEO of Dubai Properties Group.
There are about 350 villas that are now available for lease, including three-bedroom and four-bedroom villas. The introductory promotional packages will be offered during initial stages of leasing.
The Dubai Properties Group is currently leasing out residential and commercial units at Cordoba Villas, Jumeirah Beach Residence, Al Khail Gate, Al Razi Residence, Al Waha, and the Office Park at Dubai Internet City.
The Group has also announced plans to showcase its landmark developments due for handover during this year's Cityscape Dubai 2009, to be held at the Dubai International Convention and Exhibition Center between 5th and 8th October.
Among the projects to be featured are The Executive Towers, Vision Towers, Shorooq, Al Waha and The Villa.
Labels: Leasing, Luxury Homes, Villa Projects
Limitless to begin leasing of apartments in Downtown Jebel Ali
Monday, August 03, 2009
";
Limitless, the global master development arm of Dubai World, has announced that it would commence leasing of 300 apartments of The Galleries.
The CEO of the Limitless, Saeed Ahmed Saeed, said that the units at The Galleries combine modern work with quality living, offering a good balance of indoor and outdoor life, and promotes use of environment-friendly transport, all amidst a community-style environment.
Located in Downtown Jebel Ali, the project is served by the Dubai Metro, and will comprise four mixed-use buildings with three storeys, comprising 600 apartments, spreading across 85,000 square meters. It will also include four newly-completed commercial towers with A-grade offices available for lease. The complex also includes several retail outlets, and landscaped shaded grounds, due for completion in September.
Downtown Jebel Ali houses renowned international businesses such as Standard Chartered Bank, Blom Bank France, Citibank, Ericsson, L'Oreal and Kraft foods, apart from several other local and global companies. The offices offer high-quality tailor-made accommodation with onsite property and facilities management services.
Downtown Jebel Ali houses renowned international businesses such as Standard Chartered Bank, Blom Bank France, Citibank, Ericsson, L'Oreal and Kraft foods, apart from several other local and global companies. The offices offer high-quality tailor-made accommodation with onsite property and facilities management services.
Downtown Jebel Ali offers quality lifestyle with a combination of work, recreation and shopping, within easy access of Dubai, and just 45 minutes from Abu Dhabi. It will be easily served by the Dubai Metro and will have environment-friendly transport system, reducing road congestion. The projects will also have ample shaded outdoor space, a hallmark of Limitless projects.
Labels: Apartments, Jebel-Ali, Leasing, Limitless
Wasl to offer 4000 new leasing units this year
Monday, July 27, 2009
";
Wasl, the Asset Management Group of Dubai Real Estate Corporation (Drec), will add 4000 new units to its leasing portfolio towards the end of the year, a company executive revealed.
These properties spread across Al Karama, Muhraisnah, Al Badaa, Emirates Golf Club, Al Quoz, Al Rashidivah, Ras Al Khor, Al Barsha and Muhaisnah, which includes apartments, villas and retail space.
Wasl has leased about 20,000 residential and commercial units around Dubai, and will also release about 131 villas in several areas of Dubai this year.
In Muhaisnah alone, the company has nine buildings, comprising 1715 apartments. The first phase of the project has 450 apartments with a total built-up area of 787,000 square feet, and will be available for lease shortly. The second phase with 1266 apartments will be available for lease later during the year. The development at Muhaisnah will comprise of studios, single, double and triple bedroom apartments.
The Ras Al Khor area will offer 19 residential buildings with 1732 apartments featuring great community amenities. Located in proximity to the Dubai-Hatta Highway, the project offers residents easy access to major arterial roads and is meant for a community-focused lifestyle. Leasing in the area will commence in October this year.
Additionally, the company plans to release 131 villas across various areas in Dubai, with 92 villas in Emirates Golf Club, 31 in Al Rashidiyah, and an additional 8 villas to the already existing 132 units at Al Badaa this year.
At Al Barsha the company will release two three-storey buildings, offering total of 471 residential units and 31 retail outlets, in proximity to the Mall of Emirates. The latest property here is the 162-unit residential building, offering studios, single, double and triple bedroom apartments. The building aims to cater to the lifestyle requirements of professional executives and families working in nearby business districts.
These properties spread across Al Karama, Muhraisnah, Al Badaa, Emirates Golf Club, Al Quoz, Al Rashidivah, Ras Al Khor, Al Barsha and Muhaisnah, which includes apartments, villas and retail space.
Wasl has leased about 20,000 residential and commercial units around Dubai, and will also release about 131 villas in several areas of Dubai this year.
In Muhaisnah alone, the company has nine buildings, comprising 1715 apartments. The first phase of the project has 450 apartments with a total built-up area of 787,000 square feet, and will be available for lease shortly. The second phase with 1266 apartments will be available for lease later during the year. The development at Muhaisnah will comprise of studios, single, double and triple bedroom apartments.
The Ras Al Khor area will offer 19 residential buildings with 1732 apartments featuring great community amenities. Located in proximity to the Dubai-Hatta Highway, the project offers residents easy access to major arterial roads and is meant for a community-focused lifestyle. Leasing in the area will commence in October this year.
Additionally, the company plans to release 131 villas across various areas in Dubai, with 92 villas in Emirates Golf Club, 31 in Al Rashidiyah, and an additional 8 villas to the already existing 132 units at Al Badaa this year.
At Al Barsha the company will release two three-storey buildings, offering total of 471 residential units and 31 retail outlets, in proximity to the Mall of Emirates. The latest property here is the 162-unit residential building, offering studios, single, double and triple bedroom apartments. The building aims to cater to the lifestyle requirements of professional executives and families working in nearby business districts.
Labels: Leasing
DIP announces leasing of boutique offices at Jumeirah
Thursday, June 11, 2009
";
Leading UAE real estate developer, Dubai Investment Properties (DIP), has announced leasing of its boutique offices at the signature Sunset mixed-use development located in the upmarket Jumeirah 3 area.
The office complex, comprising 49 exclusive offices, will feature the latest in technology and offer the best-in-class facilities and amenities, required for making it the ideal for businesses, and companies seeking to establish a business or international representative office in Dubai.
Sunset, the unique development, combining the best in architecture and the latest in green initiatives, comprises luxury shopping mall, lavish residential apartments, and boutique offices.
It is being built in one of the most energy efficient buildings in the region, focusing on energy conservation and minimizing pollution and demands on infrastructure.
The office complex of Sunset includes office units in the range of 1200 to 1800 sq.ft., overlooking the Dubai City or Arabian Gulf and the Jumeirah Road. The Sunset office complex has direct access to the shopping mall and restaurants, and will include two business lobbies, prayer rooms, pantry rooms and conference rooms. Among the other amenities are two patios, parking spaces for tenants and visitors, business services, 24/7 security and cleaning services.
Tenants can also avail of aerobics, gymnasium, steam bath, swimming pools, children pools and beach access, all of which completes the perfect work and play business environment.
The office complex, comprising 49 exclusive offices, will feature the latest in technology and offer the best-in-class facilities and amenities, required for making it the ideal for businesses, and companies seeking to establish a business or international representative office in Dubai.
Sunset, the unique development, combining the best in architecture and the latest in green initiatives, comprises luxury shopping mall, lavish residential apartments, and boutique offices.
It is being built in one of the most energy efficient buildings in the region, focusing on energy conservation and minimizing pollution and demands on infrastructure.
The office complex of Sunset includes office units in the range of 1200 to 1800 sq.ft., overlooking the Dubai City or Arabian Gulf and the Jumeirah Road. The Sunset office complex has direct access to the shopping mall and restaurants, and will include two business lobbies, prayer rooms, pantry rooms and conference rooms. Among the other amenities are two patios, parking spaces for tenants and visitors, business services, 24/7 security and cleaning services.
Tenants can also avail of aerobics, gymnasium, steam bath, swimming pools, children pools and beach access, all of which completes the perfect work and play business environment.
Labels: Jumeirah, Leasing, Office Space
Salwan announces leasing of Al Khail Gate Phase II units
Tuesday, May 26, 2009
";
A property management company and a subsidiary of Dubai Properties Group (DPG), Salwan LLC, has announced leasing and special offers on about 5600 units at phase II of Al Khail Gate Community.
Located in proximity to the arterial highways in Dubai, Al Khail Gate is an affordable housing community offering premium facilities to corporate and residential clients. With a range of leasing options, the Al Khail Gate development comprises studios, single, double and triple bedroom apartments. Ranging from Dh.35,000 per year and more, the apartments are available in various sizes.
The CEO of Salwan, Saeed Bushalat, said that the delivery of Phase II closely follows the successful leasing of Al Khail Gate Phase I of the development. Dubai has great need for affordable and convenient housing, and the company aims to fulfil the demand in these segments.
Within a year of establishment, the company portfolio has grown to 18,000 units and an additional 8000 properties would be available for leasing towards the end of this year. Within just three months following the launch, Salwan successfully leased out 3835 units at Al Khail Gate Phase I.
Salwan currently operates residential and commercial units such as the Cordoba Villas and Jumeirah Beach residence among several others.
A property management company and a subsidiary of Dubai Properties Group (DPG), Salwan LLC, has announced leasing and special offers on about 5600 units at phase II of Al Khail Gate Community.Located in proximity to the arterial highways in Dubai, Al Khail Gate is an affordable housing community offering premium facilities to corporate and residential clients. With a range of leasing options, the Al Khail Gate development comprises studios, single, double and triple bedroom apartments. Ranging from Dh.35,000 per year and more, the apartments are available in various sizes.
The CEO of Salwan, Saeed Bushalat, said that the delivery of Phase II closely follows the successful leasing of Al Khail Gate Phase I of the development. Dubai has great need for affordable and convenient housing, and the company aims to fulfil the demand in these segments.
Within a year of establishment, the company portfolio has grown to 18,000 units and an additional 8000 properties would be available for leasing towards the end of this year. Within just three months following the launch, Salwan successfully leased out 3835 units at Al Khail Gate Phase I.
Salwan currently operates residential and commercial units such as the Cordoba Villas and Jumeirah Beach residence among several others.
Labels: Leasing, Residential
Salwan successful in leasing out Phase I of Al Khail Gate
Tuesday, May 19, 2009
";
Salwan LLC, the leading property management company, also a subsidiary of Dubai Properties Group (DPG) has successfully leased out the First Phase of its Al Khail Gate Community, and is due to release Second Phase shortly, due to unprecedented interest from clients.
Located along Al Khail Road, the Al Khail Gate development is an affordable housing community located centrally, offering all possible amenities to its residential and corporate clients.
Following three months of launch, Salwan has successfully leased out 3835 units at the development, and is offering pre-leasing options to the clients interested in second phase of the development.
The CEO of Salwan, Saeed Bushalat, revealed that several corporate clients have shown interest in the Al Khail Gate Community, and are planning to extend the offering to wider community with the launch of second phase, which will bring in an additional 5600 units into the market.
Offering a range of leasing options, the Al Khail Gate development units include studios, and single, double and triple bedroom apartments. Starting from Dh.35000 per year and upwards, the apartments are available in various sizes.
With a growing portfolio of properties across Dubai, Salwan offers a range of residential and commercial space for lease. At present, Salwan owns and manages about 14,000 residential and commercial units in various locations around Dubai, including Jumeirah Beach Residence (JBR), Mirdiff, Cordoba Villas, the Office Park at Dubai Internet City and The 558 Community at Dubailand.
Located along Al Khail Road, the Al Khail Gate development is an affordable housing community located centrally, offering all possible amenities to its residential and corporate clients.
Following three months of launch, Salwan has successfully leased out 3835 units at the development, and is offering pre-leasing options to the clients interested in second phase of the development.
The CEO of Salwan, Saeed Bushalat, revealed that several corporate clients have shown interest in the Al Khail Gate Community, and are planning to extend the offering to wider community with the launch of second phase, which will bring in an additional 5600 units into the market.
Offering a range of leasing options, the Al Khail Gate development units include studios, and single, double and triple bedroom apartments. Starting from Dh.35000 per year and upwards, the apartments are available in various sizes.
With a growing portfolio of properties across Dubai, Salwan offers a range of residential and commercial space for lease. At present, Salwan owns and manages about 14,000 residential and commercial units in various locations around Dubai, including Jumeirah Beach Residence (JBR), Mirdiff, Cordoba Villas, the Office Park at Dubai Internet City and The 558 Community at Dubailand.
Omniyat signs partnership deal for leasing services at Business Bay
Sunday, May 03, 2009
";
Omniyat Property Service (OPS), an arm of Omniyat Asset Management has entered into a strategic partnership with leading leasing service providers for major projects at Business Bay.
Omniyat is the first company to lease in Business Bay, the major accomplishment by Dubai, announced Mehdi Amjad, the Chairman and CEO of Omniyat Properties.
The company will deliver two major projects, namely, One Business Bay and Bayswater, worth a total of Dh.1billion. OPS, together with Jones LangLa Salle and CB Richard Ellis Limited-Middle East, guarantees unique leasing solutions to address the individual needs of owners and tenants in Omniyat.
The partnerships ensure that the development attract tenants from markets all over the world and ensures higher occupancy rates in the buildings. Moreover, the rent-free incentives, fit-out offerings and international standard of property management will help in attracting quality tenants.
With six commercial developments in the master plan, the OPS team is the first to deliver the new Central Business District in the region. Being the only company with leasable space in Business Bay, the partners will help in establishing standards for lead market research on vacancy rates and lease rates and pipeline stock.
The Director and Head of Agency Mena at Jones Lang LaSalle, Matt Hammond, said that great emphasize is being laid on customer service and Jones Lang LaSalle will help in finding the right fit for each tenant and owner through innovative deal structures, by bringing the right people together.
Omniyat is the first company to lease in Business Bay, the major accomplishment by Dubai, announced Mehdi Amjad, the Chairman and CEO of Omniyat Properties.
The company will deliver two major projects, namely, One Business Bay and Bayswater, worth a total of Dh.1billion. OPS, together with Jones LangLa Salle and CB Richard Ellis Limited-Middle East, guarantees unique leasing solutions to address the individual needs of owners and tenants in Omniyat.
The partnerships ensure that the development attract tenants from markets all over the world and ensures higher occupancy rates in the buildings. Moreover, the rent-free incentives, fit-out offerings and international standard of property management will help in attracting quality tenants.
With six commercial developments in the master plan, the OPS team is the first to deliver the new Central Business District in the region. Being the only company with leasable space in Business Bay, the partners will help in establishing standards for lead market research on vacancy rates and lease rates and pipeline stock.
The Director and Head of Agency Mena at Jones Lang LaSalle, Matt Hammond, said that great emphasize is being laid on customer service and Jones Lang LaSalle will help in finding the right fit for each tenant and owner through innovative deal structures, by bringing the right people together.
Labels: Business Bay, Leasing, Omniyat
