Dubai Real Estate News
UAE Property Market Trends and Reviews

"; 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

"; Despite the drop in property prices in Dubai, the emirate is the eighth most expensive place to rent office space in the world, reveals the latest report by CB Richard Ellis on office occupancy.

The office rents in Dubai have dipped by 27.3 percent during the past year, but, as the fall is universal, it remains among the top 10 of the priciest places to have an office.

With office space now costing $108.91 per square foot a year on an average, Dubai is however, still, way behind the West End of London, which attracts rents at $184.85. But, it is still ahead of London City market which is the ninth place globally and is well ahead of its neighbour Abu Dhabi, where rents have fallen by a huge 38.6 percent touching $84.4.

The best performing market was Aberdeen in Scotland, which suffered a 12-month decline of 12.3percent, touching $65.62.

The report said that the financial crisis has made an impact on the world's office markets and the US dollar, has been particularly weak in 2009. Europe, Middle East and Africa continue to have the largest number of markets and are on the top 50 list while London's West End is still the world's most expensive market. Other markets in the region ranking high on the list are Paris, Moscow, Dubai and London City.

Meanwhile, the real estate broker Knight Frank LLP said that 40 percent of Dubai's office space is currently empty after the emirate's construction pace surpassed demand, Bloomberg had reported.

Vacant office space in Dubai totals to 10mn square feet at present. However, if developers meet the current completion dates, total office space will double to touch six million square meters by end of 2011, reported research by broker Colliers International, which also placed vacancy rate at 40 percent.

Labels: Office Space, Property Prices

"; 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.

Labels: Leasing, Office Space

"; The rentals for office space in Dubai have dropped by 63 percent during the past nine months, but prices are likely to fall further for the reminder of the year and in 2010, as a dearth in demand has been noticed, along with abundance of new supply, which will keep the office space leasing market sluggish, particularly the free zone areas, reports CB Richard Eliis (CBRE)-Middle East, the leading property consulting company.

Average rentals at the Jumeirah Lake Tower area have dropped to Dh.70 to Dh.120 per square feet from Dh.240 to Dh.280 during the third quarter last year.

Office space from private developers in Dubai Silicon Oasis now averages between Dh.50 per square feet and Dh.85 to Dh.130 in Dubai Internet City, Jebel Ali Freezone, Media City, and Airport Free zone. No comparative figures have been provided.

The global economic crunch has badly hit the real estate market in Dubai, with the prices having halved from their peak values in September 2008, hitting both residential and office space sectors.

The large expatriate population in Dubai that fuelled the five-year property boom, dwindled this year, with thousands losing their jobs and being sent back home as the companies cut down operations.

The office space leasing market will have to witness more tough times, as the current stock will face stiff competition from new supplies coming on stream. The office space available in third quarter this year has more than doubled, touching 5.2mn square feet from the 2.5mn square feet space during third quarter last year, said Faheem, Research Analyst at CBRE Middle East.

During the rest of the year and in 2010, the leasing market in these areas will continue to remain sluggish, largely due to additional pipeline stock expected to enter from free zone developments and non-free zone areas such as Business Bay development.

Labels: Office Space, Rentals

"; About 25 percent of Dubai’s office space is vacant, and the amount is expected to climb further this year, with new buildings being completed, according to a report from Jones Lang LaSalle.

An increase in the number of new offices has helped in easing office rents by an average of 25 percent during the second quarter this year, in comparison to the first quarter. This represents a slow rate of decline, compared to a 45 percent decline in rents witnessed during the first quarter of the year.

The global economic crunch has been a major factor behind reduced demands, as several tenants have either downsized or delayed their expansion plans or have waited to see if the rents settle, said Matthew Hammond, the Head of agency at Jones Lang LaSalle (JLL).

The emirate now has an additional 2million square feet of office space available during the quarter, as per the latest report in the Dubai Office Market.

The total office space in Dubai as of June 2009 is 33.6million square feet. The vacancy rates are in the range of 22 to 25 percent, and are likely to grow further in the next six months, as the supply continues to be released.

In mature markets, typically, a healthy vacancy rate would fall in the range of 10 percent, offering occupiers more alternative options, Ahmad Saidali, Head of Investment at the commercial property consultancy, CB Richard Ellis (CBRE) in Dubai, said.

While the landlords are likely to suffer with increased office space in the market, the fall in rents may help Dubai in getting more competitive and attract potential tenants, JLL said.

Labels: Office Space

"; The Chairman of Reef Real Estate Investment LLC, H H Sheikh Ahmed Mohammed Zayed Saqer Al Nahyan, has announced the launch of R Serviced Offices in Dubai.

The objective is aimed to offer prime commercial space in major business districts in Abu Dhabi and Dubai, followed by other business hubs in the GCC and subsequently the emerging markets across the world.

The R Serviced Offices flagship operation comprises 188 leading offices in Al Reef Tower, an outstanding commercial development located in the Jumeirah Lakes Towers within the DMCC Free Zone.

The fully furnished offices range from 12.3 square meters to 41.04 square meters in size, and include private guest reception areas and 12 meeting rooms.

There is a strong demand for serviced offices amidst the economic downturn. The demand is largely from small local companies, firms involved in down-sizing or overseas groups seeking to set up branch office in Dubai.

According to H.H. Sheikh Ahmed, serviced offices hold a high potential for growth, as the companies seek to become more efficient in the use of their space.

There is all likelihood for 100 percent occupancy at R Serviced Offices by the first quarter of 2010, confirms H.H. Sheikh Ahmed.

R Serviced Offices are the right option for companies seeking cost reduction. The usual process of having to search for an office space, negotiate lease agreement, purchase office equipment and hire staff is an expensive procedure. With the R Serviced Offices, the companies can avoid excessive upfront expenses of opening an office, as they are not bound to any long-term contracts and do not incur service charges. The companies can also save on fittings, furniture, staffing and monthly rent, apart from permitting access to all benefits of being in DMCC Free Zone, explained Ian Lloyd, Chief Executive, R Serviced Offices.

According to a recent Reuters report, Dubai is the second most expensive office market in the MENA and Europe region. Therefore, serviced offices are the most cost-effective way to create an instant Dubai office. There is no additional service charge for lighting, air conditioning, water, electricity and full time security.

Among the other attractions are tea/coffee, water for clients and visitors, dedicated post office box and mail sorting service, daily newspapers, office maintenance and daily housekeeping.

Jumeirah Lake Towers, the Nakheel development, is one among the most sought-after business and residential districts in Dubai. Standing at a height of 137 meters above concourse, the Reef Tower boasts of spacious layout with 32 storeys, apart from the ground level and three basement floors. The building matches the 21st century requirements and has high-tech facilities in place.

Labels: Office Space

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Labels: Business Bay, Deyaar, Office Space

"; 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.

Labels: Jumeirah, Leasing, Office Space

"; With the drop in demand owing to global economic crisis, rents for office spaces in Dubai Free Zones have also dropped considerably, noted an industry analyst.

The Research Analyst at CB Richard Ellis, Mohammed Faheem, said that the average rates of privately managed buildings in the free zones have dropped from the Dh.240-380 per sq ft range, to Dh.92-180 per sq ft during the first quarter of this year, thereby indicating a 52 to 61 percent drop.

This is a clear indication of decrease in demand. The free zones included in the survey were the Media City, Internet City, Dubai Silicon Oasis, Knowledge Village and Jumeirah Lake Free Zone.

Rents within the various zones vary from one another with few zones implementing rate restrictions to stimulate demand from occupiers. The buildings managed by free zone authorities have rents in the range of Dh.170-190 per sq ft.

The Dubai International Finance Center (DIFC), the special economic zone located in the central business district of the city, has fared much better, standing out above the rest of the prime locations in Dubai, with average rents ranging from $115-123 per sq ft. This is mainly because DIFC is a popular location among companies seeking to move in to Dubai.

Although, the lower rent rates in few of the free zones in Dubai, makes it more attractive, it really depends on the motive of the free zone managers. The rents are affected within the free zones mainly because the authorities have a different agenda than the commercial landlords, says Nicholas Maclean, Managing Director, C B Richard Ellis.

Labels: Freezones, Office Space, Rentals

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Labels: Business Tower, Construction Projects, Office Space

"; Dubai has been increasingly witnessing a lack of demand for commercial plots, reports CB Richard Ellis (CBRE), the real estate services company.

The latest report by CBRE said that although there is no considerable change in the office lease market during the fourth quarter, prime rents saw a growth of 29 percent year-on-year.

Speaking about the commercial rental growth from 2004-08, the firm says that much of the new entry during the fourth quarter was located in Al Barsha and Freezone developments of TECOM.

With only limited new offices entering the market, a drop in lease is not yet apparent. A correction in rentals is necessary during the first quarter 2009, admits CBRE.

CBRE is expecting more drastic declines and considerable increases in the availability of incentives for landlords. It expects a rent correction during the first quarter 2009. According to CBRE, the other districts are likely to see a more notable decline and marked increases in availability of landlord incentives.

Speaking about Abu Dhabi, CBRE mentioned that a situation of uncertainty is evident in the subdued commercial rental market. Demand for office accommodation dropped considerably in the prime segment, leaving an impact on rental rates.

Under the present conditions, more opportunities would be presented to developers and end-users, and the developers would get more cautious, by pursuing only well-planned premium quality projects and end-users would benefit from better quality property product as a result, CBRE's report said.

According to real estate services firm, Abu Dhabi market remains considerably under-supplied across all property sectors, offering a conducive environment for growth, estimates CBRE.

The firm considers that this year would be the right time for Abu Dhabi government to lay-down the much awaited property regulations befitting a mature market, which would not only enhance the market appeal, but would also place Abu Dhabi in an international competitive stance.

Labels: Office Space

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Labels: Abu Dhabi, Office Space, Rentals

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Labels: Business Tower, Commercial Property, Jumeriah Village, Office Space

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Labels: Commercial Property, Freehold Property, Office Space, Sheikh-Zayed-Road

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Labels: Dubai Real Estate, Office Space, Rentals

"; A development arm of AAA International Group, AAA Appraisers, yesterday launched the $200million Eclipse Tower in Dubai Jumeirah Village.

The project, which covers a gross built-up area of 350,000 square feet, with an additional 55,000 square feet of retail space, will also feature a sky golf course.

"This is a record of sorts. Dubai has never experienced a sky golf course, featuring bunkers, water hazards and pioneering water management system that maintains the golf course with minimal wastage of water," said Ebrahim, the General Manager of AAA.

The project also introduces another new concept in Dubai, wherein, the moment investors buy an office in the tower, they will be able to move into a fully furnished office. In the normal course projects, on the other hand, businesses will have to wait for two to three years before the keys of their office are handed over. The company aims to introduce a paradigm shift in the realty industry this way.

Featuring high standard modern amenities that promote both convenient and professional business standards, it also includes options for relaxation after the hectic working hours. The officer offer stunning views of the canal within the Jumeirah Village South, while the five high-speed elevators carry employees to their respective offices in a fast and comfortable manner. The golf course in the tower is the first-of-its-kind to be built in a commercial office tower in Dubai, which offers clients and businessmen a unique working environment.

Ideally located amongst the major roads in Dubai - the emirates road and Al Khail Road, the commuters no doubt will be benefited from the new metro too, which links the Dubai International Airport to its new residential development. The prime location is sure to attract foreign investors who further promote the growth of Dubai's currently blossoming economy.

Construction of the project is likely to commence by end of September 2008, and will be complete by end of 2010.

The sales of the tower will be launched within the next few months at the rate of Dh.1600 per square foot.

The Eclipse Tower, has already received approval from Dubai's RERA (Real Estate Regulatory Authority) and has an escrow account with Emirates Islamic Bank.

Labels: Business Tower, Jumeriah Village, Office Space

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Labels: Abu Dhabi, Business Tower, Office Space

"; Emaar Properties has launched a 55-storey two-tower commercial and residential project, Burj Place, within Downtown Burj Dubai, the new center of the city.

On completion, the Burj Place, will be directly linked to the Dubai Metro and Burj Dubai tram, said a company statement.

Burj Place offers studios, single and double bedroom serviced apartments in the rage of 574 square feet to 1253 square feet, making it the right choice for modern lifestyle. The commercial spaces of 'Burj Place' range from 3837 square feet to 7027 square feet.

Emaar Properties Sales Director, Saif Al Mansouri said "At Burj Place, Emaar invites its customers to be connected to Downtown Burj Dubai and Dubai. Burj Place is the new addition to the Downtown Burj Dubai, the address of prestige and status. It is a place with variety and style, offering a unique investment opportunity."

The development value of the project is, however, yet to be revealed.

The residential and commercial units of the development will be open for sales tomorrow at the Downtown Burj Dubai sales center, with various institutions offering attractive finance options.

The Dh.73bn ($20bn) Downtown Burj Dubai, flagship mega-project of Emaar, known as the 'most prestigious square kilometer on Earth', is now one of the most desired destinations in the bustling city of Dubai. The units at 'The Old Town' and 'The Residences' have been handed over to the customers, and three hotels, and a modern shopping mall are already open in the development.

Labels: Downtown, Emaar, Office Space

"; An affiliate of Alternative Capital Invest GMBH of Germany, ACI Real Estate, together with Galadari Investment Office (GIO), the luxury holding division of GALVEST, has entered into partnership to offer world-class real estate solutions for signature commercial property 'G Office' at Dubailand.

Spreading across 20mn Sq. Ft. of Arabia district, the project is positioned along the main gateway of the residential and retail center at the heart of Dubailand. The vast urban development will offer open-air leisure and entertainment facilities, including the Mall of Arabia – world's biggest mall, and the Dinosaur theme park Restless Plant.

The 45 storey tower, designed by an internationally renowned architect, Alex Vacha, is 280 meters in height, with 24-hour concierge and valet services, and car parking spaces. The building is a perfect fit for office goers as it offers the opportunity to explore the advanced building management system and two spacious communal sky decks, above the podium.

"G Office represents a new move in terms of design, thereby rendering a new dimension to the growing commercial property market. Our alliance with ACI real estate, the creators of Sports Triology Towers, will bring both companies into the forefront of realty sector. The GIO's vision of raising bar of design-culture with our projects and ACI's commitment to excellence will provide the region with the best property solutions available," says Rashid AW Galadhari, Chairman, GIO.

The project is expected to be complete by 2010, which will be another landmark development to ACI's project portfolio, which is at the moment, staggering at Dh.10bn scheduled for Abu Dhabi and Dubai.

Labels: Dubailand, Office Space

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Labels: Latest News, Office Space

"; Omniyat Properties has announced the launch of 19-storey modern office twin-tower, Octavian, in Business Bay, which happens to be the eighth project by the company in the prestigious downtown business hub of the city.

Labels: Business Bay, Business Tower, Office Space, Omniyat

"; Sungwon Corporation has announced the record sales of their Dh.1.5bn Santeview project at Culture Village, within a day of its launch in the market.

Labels: Cultural-Village, Dubai Sports City, Golf property, Office Space

"; The office space in Dubai will double this year, with an area expansion of 4.7million square meters between 2007 and 2010, reports Gulf News.

More than 250 companies from the US, Far East and Europe participated at the 'Office Exhibition 2008' held at Dubai International Exhibition and Convention Center, which will conclude today. They exhibited their innovative designs at the seventh edition of the exhibition, which was the largest.

In UAE alone, the office furniture market is already estimated to be between the range of $190m and $272m. However, this figure is expected to increase along with expanding office space, expected to increase the current supply of 2.4 million square million to three times that of the figure by 2010.

Labels: Latest News, Office Space

"; Dubai Multi Commodities Center (DMCC) has completed the delivery of offices in the Almas Tower to its diamond sector members. This move was initiated to establish a diamond industry cluster in Dubai.

The Almas Tower is DMCC's flagship tower, located within the Jumeirah Lakes Towers development, built to cater to the particular needs of the diamond industry.

During a ceremony held yesterday at Monarch Hotel in Dubai, the keys were handed over to member companies, who are to occupy the 3-20 of Almas Tower. It is up to the clients now, to complete their individual fit outs prior to occupying their new offices.

The Almas Tower marks a major step forward towards realizing the objectives of DMCC to establish a dedicated market place, providing industry-specific market infrastructure, and a range of amenities for diamond trade in Dubai. The Almas Tower will offer an entire range of diamond trade related facilities, and will house the Dubai Diamond Exchange, the one and only diamond exchange in the region, said Ahmed bin Sulayem, the DMCC Executive Chairman.

The remaining phases of the tower will be handed over during the next couple of months.

Labels: Jumeirah-Lake-Towers, Office Space, Real Estate News

"; The joint-venture by Mazyood Giga International and ETA Star, Star Giga, yesterday unveiled the 'Goldcrest Business Vistas', a Dh.360 million project in Ajman. Falling into the category of world-class real estate projects, the Goldcrest Business Vistas provides the best most commercial environment to companies at the regional and international levels, investors and other multinational business establishments.



The project is being built in the Emirates City, the new mixed-use development on the Emirates Road in Ajman, and is just 20 minutes away from Dubai and Sharjah International Airport.



The 29 storey commercial tower will include five offices of various sizes, ranging from 845 square feet to 1544 square feet in area, which the investors could choose from. The offices are designed in an open plan, offering space for more interaction and team work. The upscale tower, at its podium level, offers a multi cuisine restaurant, and features a rooftop gymnasium, and pool, for the fitness conscious corporate world.



The Star Giga Executive Director, Amir Pardesi, said Emirates City on Emirates Road in Ajman, being one of the most coveted new developments in UAE, is the most ideal environment to launch a business. The Goldcrest Business Vistas is an ambitious project, with a potential to attract large numbers of business firms, seeking to operate in a modern business environment.

Labels: Ajman, Commercial Property, Goldcrest, Office Space

"; The office rents in Dubai, and Doha are likely to go up by 20% next year, as the demand surpasses supply, and due to the expansion of international business in the Gulf region, revealed the property services company, CB Richard Ellis.

"The top-quality offices in Dubai, cost as much as Dh.500 per square foot, and this in-turn could increase prices to Dh.600 per square feet next year, which would continue for 18 months, and thereafter the prices may probably halve to about Dh.300 per square foot in another five or six years with an increase in market supply" says Nicholas Maclean, the Managing Director, CB Richard Ellis.

However, at present, there are not enough supplies reaching the market, which would do no good to the businesses or for the government.

As far as Doha property is concerned, the demand is increasing, with an expansion in oil and gas companies, and the government is seeking new space. Although, the prices in Doha are lower than that in Dubai, the trends are the same.

On the other hand cities in India, Egypt, and Philippines are gaining advantage from the rising prices, as businesses turn to them for back-office operations, said Maclean.

The office space in Dubai is likely to more than triple touching 100 million square feet, as against the present 30million, during the next five to six years, Maclean concluded.

Labels: Dubai Real Estate, Market Trends, Office Space, Rentals

"; Leading providers of investment solutions in Germany, ACI (Alternative Capital Invest) Real Estate, has officially launched the Niki Lauda Twin Towers in Dubai. The launch was alongside the 36th anniversary of UAE's formation, where ACI participated in the National Day celebrations. The legendary Formula 1 World Champion racer, Niki Lauda, was also present during the launch ceremony.

The launch of Niki Lauda Twin Towers in Dubai, is the first among the series of celebrity-branded real estate developments to be launched by ACI Real Estate. Two other properties endorsed by Boris Becker and Michael Schumacher are expected to be launched in the next couple of weeks.

The ACI Real Estate Managing Director, Robin Lohmann, said that "We at ACI believe in doing things in a different manner, as being innovative adds significant value to our offerings. By adding a celebrity brand, which matches our standards of excellence, we make sure that apart from delivering just a great product to our customers, we also create an iconic landmark which is instantly recognizable."

Positioned in Business Bay, the Twin Towers with 29 and 26 storey each, and another four floors at basement parking, are due for completion by 2010. The towers, which houses only offices, are the only office development in Dubai that provides leisure amenities such as outdoor swimming pools, gymnasium and prayer rooms.

Labels: Business Bay, Business Tower, New Developments, Office Space

"; The latest luxury realty development by KM Properties, the real estate development arm of KM Holdings, the TAMANI Art Offices, underwent public launch at the Artisan Cluster in Business Bay, Dubai.

TAMANI Arts Offices is an iconic mixed-use realty development complex, comprising a 20 storey tower. About 32 percent of the project was already sold to investors during its pre-launch at the Cityscape, Dubai.


The twenty storey glass and steel tower with latest cutting-edge technology will make a flawless business platform and grow to be the business epicenter of the prestigious Business Bay development in Dubai. Strategically located in the Artisan Cluster in Business Bay, the TAMANI Arts Offices will offer convenient and easy access to the most notable recreational and landmark destinations, including Dubai Mall, Old Town, Burj Dubai, and the Sheikh Zayed Road.

Spreading across two million square feet in area, the development comprises clusters of iconic towers which include residential buildings, commercial towers and hotels, designed by renowned design engineers and architects of Terry Farrel and Partners, the renowned designers behind the Greenwich Peninsula in London.

TAMANI Arts Offices will provide the best boutique offices, a grand reception and lobby lounge, spacious retail outlets, on-site art museums, hi-tech business offices and IT services, including IT infrastructure security and hi-speed internet access. The TAMANI owners and tenants will also be benefited by the exclusive facility management services, which include 24-hour concierge and valet, efficient housekeeping, on-call maintenance, and engineering services, access to meeting rooms and business centers, and banqueting and catering services on request.

KM Properties has come forward with Escrow facilities by joining hands with National Bank of Dubai, and has also entered into agreements with Amlak Financing, which will offer mortgages for about 85% of the purchase price.

Labels: Business Bay, Office Space, Real Estate News

"; A new private multi-disciplinary holding investment firm, United Holdings, has been launched for embarking on investments worth Dh.19.8billion during the coming years. The company, with its position as a premium investment firms, will concentrate mainly on opportunities in Dubai property sector.

The Chairman of United Holdings, Mohammed Ali Al-Hashimi, said "After extensive research and planning, we are proud to officially launch United Holdings, which is well positioned to address investment opportunities across various economic sectors."


United Holdings plans to invest in various esteemed projects in the prime locations in Dubai, including the Sheikh Zayed Road, Palm Jebel Ali, Downtown Burj Dubai, Palm Jumeirah, Umm Suqueim, Dubai Water Front, and The World Islands.

United Holdings also has planned for real estate developments in Abu Dhabi and the northern emirates. Construction has already begun in Tiara United Office Tower, worth Dh.900million on Sheikh Zayed Road. The Tiara United Office Tower, worth 2.4billion is a joint-venture with Zabeel Investments, expected to be ready in 2009.

United Holdings is also planning diversification of its investment portfolio by investing in a range of assets across various economic sectors including financial services, hospitality, private equity and manufacturing.

Details pertaining to other projects will follow soon.

Labels: Business Tower, Office Space, Real Estate Company

"; Omniyat Properties, the developer of exclusive real estate projects in Dubai, has begun the ground-breaking work on their commercial development, 'The Opus' situated in the heart of Business Bay. More than 60% of the project has already been sold out.

Designed by the Pritzker Prize winning architect, Zaha Hadid, 'The Opus' is worth more than Dh.1.7billion, and has been set to adorn the Dubai skyline with artistic and iconic architecture. The project, spreading over 85,000 square meters, was unveiled by the CEO of Dubai Properties, Mohammed Binbrek.

Being a perfect blend of art and technology, 'The Opus' forms a structure resembling cube with a fluid for "void" in the middle. The Opus will comprise of three individual towers, that are fused together to create the illusion of a single structure.

Located on an island plot in Business Bay, Dubai, The Opus, depicts a waterfront location, offering the most exclusive office real estate in Dubai, The eye-catching views of Burj Dubai, will further enhance the value of the development.

'The Opus' is expected to be completed during early 2010.

Labels: Business Bay, Commercial Property, Construction Projects, Office Space, Omniyat

"; The most recent development of Dubai Properties, the Bay Square, worth Dh.4billion, has been unveiled at Business Bay in Dubai.

The development that stretches over five million square feet in area is considered a new-age community project, targeting residents, retailers and businessmen who wish to lead a stress-free lifestyle within a corporate environment.





A boutique hotel with a 'downtown setting' and a residential tower, will be the center of attraction of the thirteen building development. Remaining eleven buildings will comprise mixed-use projects that feature commercial and retail space, terraced apartments and two storeys of rooftop apartments.

The Chief Executive Officer of Dubai Properties, Mohammad Bin Braik, said that Bay Square will be a prestigious business landmark for companies, offering business professionals and visitors an unmatched experience about modern Dubai. He revealed that about 60 percent of the project has been exclusively earmarked for commercial investors alone.

Dubai Properties has also placed before its investors, an opportunity for purchasing five to ten floors, covering nearly one million square feet of commercial space, which ranges from 1500 to 17000 square feet.

The Bay Square forms the core of Business Bay. The height of the building and the Bay Square towers will range from 10 to 14 floors featuring studios, single-bedroom and loft-style apartments that overlook the Square and the rest of Business Bay. Apart from being a pedestrian-only zone, the Bay Square will comprise retail outlets, a central plaza, restaurants, hosting cafes, and state-of-the-art gym.

Bay Square is scheduled for completion by 2009.

Labels: Business Bay, Business Tower, New Developments, Office Space

"; The real-estate development branch of Dubai-based KM Holding, KM Properties, has unveiled a Dh.1.3billion tower at Dubai's Business Bay, the prime commercial district in the emirate.

The tower named 'Tamani Arts Offices', will include a twenty storey glass and steel building in the Artisan cluster of Business Bay.



The Chairman and CEO of KM Holding, Mohammad Haddad, is quoted as having said that the Tamani Arts Offices will be the most significant address for business in New Dubai.

The Artisan Cluster that covers a built-up area of two million square feet comprises numerous commercial, residential and hotel towers.

Another development of KM Properties is the Tamani Arts hotel, which is located adjacent to Tamani Arts Offices.

KM Holding is the owner of numerous properties in the UAE, and is planning to enter the Indian and Saudi Arabian markets, scheduling a six-year growth plan.

Labels: Business Bay, Business Tower, New Developments, Office Space

"; A leading Dubai real estate developer, Realty Capital Middle East FZ LLC, has awarded to Al Naboodah Contracting, a contract worth Dh.555 million for construction and implementation of the i-Rise Tower. The 37 storey commercial realty project is located in the TECOM (Technology and Media Free zone) in Dubai.

The tower will be the largest in the region, comprising a built-up area of more than 1 million and eight hundred square feet. The unique wave-like profile of the tower reflects the advanced infrastructure and the technology-focused vision of the development.

The i-Rise Tower will provide office modules that begin from 700 sq ft in size, in a free-zone location. The development also comprises the best amenities. The commercial project is so designed to include executive and corporate offices, coffee shops, restaurants, 18 high speed elevators, fitness center, retail space, a multi-storey car park and a helipad.

The CEO of Realty Capital - Middle East, Marwan G. Mansour, said "Time is critical for this project, as investors expect timely delivery of the project. With Al NAboodah on their wheels, we are confident about delivering the project in time, while also meeting the highest quality in standards. Currently the phase one of the project is progressing smoothly, and hence we expect a smooth transition to the second phase of construction."

Labels: Business Tower, Construction Projects, New Contracts, Office Space

"; The German Business Park FZCO has entered into a contract with Fischer Architects of Mannheim, Germany, to prepare the conceptual designs and preliminary engineering for its Dh.750million mixed-use real estate development at Dubai Silicon Oasis Head Quarters.

The German Business Park FZCO is a joint-venture between Bin Jabr Group of Abu Dhabi and Dubai Silicon Oasis Authority. The Dubai Silicon Oasis, where the project is likely to come up, is the premier integrated innovations hub in the region for high-tech industries.

The German Business Park, worth Dh.750million, covering an area of 82,000 square meters, comprises a large three-level podium, bordered by two slender towers with twelve floors each, up to a height of 60 meters.

The Park will offer German companies with a business class hotel, commercial space for sale, serviced apartments, luxury retail and restaurant area, and underground parking space for about 1700 cars.

A part of the real estate development will also house the German Center Dubai, an exclusive business environment with networks, offices and other services initially established by Landesbank Baden-Wurttemberg (LBBW). The German Center aims to provide office space and comprehensive support to medium and small-sized German companies looking to establish their operations with Dubai as the base.

The General Manager and Managing Director of the German Business Park, Dagmar Abdelatif, said "We foresee German Business Park and German Center Dubai to form an effective platform for considerable business transactions for both German companies and the companies seeking to operate in the UAE. The development will also offer a lively and attractive environment for Dubai to enjoy the German hospitality and culture all under a single roof."

Dagmar revealed that the company plans to launch the project on 8th to 10th October 2007, at Expo Real in Munich, Germany. A special venue has been allotted to interact with German companies and the team of consultants of the group, so as to incorporate any suggestions into the final design of the German Business Park, to make it truly unique.

The Park has been scheduled for completion by late 2009.

Labels: Commercial Property, Dubai Silicon Oasis, New Developments, Office Space

"; Indigo Properties, the leading real estate development companies in the UAE, has contributed a valuable addition to the growing realty developments in UAE, through the launch of 'Indigo Central' in Dubai. The development, which ranges from 39,000 to 52,000 square feet in size, comprises eight eye-catching buildings, featuring commercial offices and retail showrooms.

Located at Al Manara and Al Safa, positioned either side of Interchange 3 in Sheikh Zayed Road, Indigo Central has the proposed Dubai Metro Station as its nearest landmark.

The Director of Indigo Properties, Anand Lakhiani, expressed his confidence that these distinctive low-rise developments will soon turn out to be the landmarks on the road, and with their easy access, location, quality and size, they will surely be known as one of the leading developments in Dubai.

The eight striking buildings will be constructed in two phases combining blue-hued glass and steel. The real estate development is perfect for corporate headquarters, multinational companies, banks, wholesale or retail Car Showrooms.

Indigo Central development is expected to be complete by December 2008.

Labels: Commercial Property, New Developments, Office Space, Real Estate Company

"; Dubai Contracting, a construction company, is said to have been awarded with a construction contract to build the Phase One of the Mall of Arabia, the major retail component of the $2billion City of Arabia project in Dubailand.

The project on completion will be the biggest shopping malls in the world, with 4.2million Square Feet of retail space in its Phase One with 1200 retail outlets.

The project is likely to be built within the next 21 months, with 10,000 or more workers. The Vice Chairman and Managing Director of City of Arabia, developer Elyas and Mustafa Galadari Group, said that the company has worked hard on choosing the right people for the job and Dubai Contracting has the reputation of being a company capable of delivering the projects on schedule, apart from having the right skill mix and equipment resources.

On completion, the mall will be readily accessible to the Restless Planet Dinosaur Theme Park and will be linked to the rest of the complex through a mix of hotels, restaurants and shops, commercial and residential units through small electrically powered boats.

A total of 85 percent of the total leasable area of the mall is committed to retailers.

Labels: Commercial Property, Construction Projects, Dubailand, Mall-of-Arabia, Office Space, Shopping Mall

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Labels: Dubai City, Dubai Real Estate, Mortgages, Office Space, Real Estate News, Real Estate Projects

"; Damac Properties has announced that the construction works of its 'Smart Heights' project at Tecom, would commence as scheduled. The project is due to be completed by August 2009.

Earlier, Damac launched the Executive Heights project in Tecom, and went on to become the first to announce an office tower in Tecom. Smart Heights is the second project of the company in Tecom.

The enabling works, including excavation and piling for development of the infrastructure, was completed on 24th July this year. The enabling works were carried out by International Foundation Group (IFG), who are the leaders in the field of geotechnical and foundation engineering.

Currently, Engineering and Contracting Company (ECC), the leading contractors in the industry will begin construction of 'Smart Heights' as scheduled.

Smart Heights will offer a state-of-the-art office space that covers 288,000 square feet of area, with 22,000 square feet of prime retail outlets, six levels of parking, and other amenities such as day-care and healthcare center. The project will offer businesses too, the ultimate in smart technology.

The Smart technology feature comprises a smart card for controlled access anywhere within the building, smart technology featuring eye-biometric recognition, smart lighting energy management system, fully automated business lounge and boardroom, a touch pad request and LCD screen response in smart elevators.

Damac Properties recently won three prestigious awards at the CNBC Arabian Property Awards 2006. Damac won the best development award for its 'Oceanscape', best architecture award for 'Ocean Heights 2' and best website award for the company website- www.damacproperties.com. The company also received IREF ME award for being the best residential development in UAE.

Labels: Business Tower, Construction Projects, Damac Properties, Office Space

"; Omniyat Properties, the real estate branch of the UAE-based 'Omniyat Holdings', has awarded its AED345 million (US$92million) 'Bayswater' project, a 25 storey commercial tower, to China State Construction Engineering Corporation (CSCEC), appointing them as the main contractor for the project.



The project, which is expected to come up on a prime waterfront location in Business Bay district, Dubai, has now stepped into its second phase, after the enabling works were completed by Al Dhafra Piling Contracting Company (APCC). At present, about 25 percent of the main construction and 33 percent of the overall development have already been completed.

Omniyat Properties have agreed that the work is progressing as scheduled, and the work is likely to be completed by the third quarter of 2008.

CSCED is the most successful and one of the largest international contractors in the world, bringing with it the rich experience of working in landmark properties across the glove, and have received numerous awards for timely delivery of projects, and for meeting quality standards.

The contract has been handed-over just after the confirmation from the developer that the first phase of construction work on this freehold commercial tower has been completed.

The Managing Director, CSCEC, Yu Tao, expressing the company's excitement to be involved in the unique and innovative project, said that they are proud to be associated with a developer such as Omniyat Properties, who has been developing the most technologically advanced properties.

The tower, designed by Dubarch, the leading Dubai-based architects, is unique in its shape and is an optical illusion which looks like two slim towers side by side to the viewer, taking the shape of the letter X.

The tower is targeted to medium-sized companies looking for Grade-A office space.

The tower projects hi-tech features such as multiple access points, high ratios of parking to office space, 825 bays spread over the four podium floors and two basement. The building comprises two penthouse office floors, a podium with terrace, and a few waterfront loft-style offices.

Labels: Business Bay, Business Tower, Commercial Property, New Contracts, Office Space, Omniyat

"; Although the office rents in Dubai are on the lower side in comparison to the global standards, the office market in Dubai has generated a return of more than twenty percent on investment, which is considered to be one of the highest in the world.

Increasing demand for Grade A office space, coupled with minimal vacancies, has led to a situation wherein new projects are grabbed away within days. To add to this, healthy policies and economic conditions have resulted in more companies getting settled in Dubai, boosting up the rental values further.

The highest increase have been recorded in Sheikh Zayed Road and New Dubai areas, with rental rates ranging from Dh.300 to Dh.350 per square foot on an average, due to minimal vacancies.

Although, due to increasing rentals, there are probabilities of the small and medium sized companies relocating their offices to other emirates such as Abu Dhabi, Ajman or Ras Al-Khaimah, where the rents are comparatively lower, the continued supply of office space in the market is expected to stablilize the prices. As of now, about 50 million square feet of office space is expected to come up by 2010.

Labels: Commercial Property, Dubai Real Estate, Investment Property, Office Space

"; Fortune Group, the Dubai-based developer has announced that they have begun work on their fifth project in Business Bay, the 'Fortune Pearl Commercial Tower'. The project is worth Dh.400 million, and covers 500,000 square feet of construction space and will have fourteen storeys. The ground-breaking ceremony for the project was done yesterday.

The Fortune Group CEO, Syed Mohammad Ali, said "The launch of Pearl supports our belief regarding the strong potential of revenue from investment in commercial property in Dubai. The project has been initiated at the right time, when the demand for commercial space is rapidly on the rise, on par with the unprecedented growth in the economy and business in the region."

Mohammad Ali mentioned that Business Bay would be the ideal location for the project, due to its close proximity to the new business district of Dubai through the Shaikh Zayed Road.

Fortune pearl has hi-tech office concept featuring modern office amenities coupled with a range of luxury offerings, including state-of-the-art conferencing systems, advanced facilities for communication, comprehensive business support services, broadband internet connections and meetings, swimming pool and other modern amenities.

Mohammad Ali has expressed his confidence in the project and has mentioned that the project will be a new yardstick in world-class commercial office space and will comprise an environment that is favorable for further growth in business. The positioning of the project in Business Bay also contributes to the value of the project.

Designed by AEIB, the soil investigation contract for the project has been handed over to Al Hai and Al Mukkaddam.

The project is scheduled for completion by 2009.

Labels: Business Bay, Business Tower, Fortune, Office Space, Real Estate Company

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Labels: Business Bay, Commercial Property, Damac Properties, New Developments, Office Space

"; Emaar Properties, the Dubai-based developer, has launched Marina Plaza, the first commercial tower in the Dubai Marina master-development.

The freehold tower with twenty eight storey, forms a part of the Dubai Marina Mall Complex, and is seated on a podium of eight storey, facing the marina. The sales for office space within the tower, begins on Thursday, and the project is due for completion during 2009.

The Sales Director of Emaar, Saif Al Mansoori, said "Marina Plaza addresses the rising demand for business space in Dubai. Investors will be benefited from its ideal location within the most sought-after developments in the city."

The tower is expected to have 160 units, with six units in each floor and a complete penthouse floor.

Each floor will be wholly available for sale. The project will come up adjacent to the Dubai Marina Mall Complex.

Labels: Commercial Property, Dubai Marina, Emmar, Freehold Property, Office Space

"; Ed Zublin has been awarded the Dh.380 million contract by Aldar Properties for construction of Inja-zat's data center and office facility.

Injazat Data System, one of the leading Information Technology Outsourcing (ITO) and Business Processing Outsourcing (BPO) company has announced that the new project will enable advanced IT-enabled services and hosting facility.

The project, located at Madinat Mohammad Bin Zayed in Abu Dhabi, covers 17,000 square meters in area and comprises a two storey Tier IV data center with a data hall of 2000 square meter in size designed to support about 9000 serves and associated infrastructure.

It also comprises a headquarters with five storey, that has the capacity to accommodate about thousand employees, featuring a 200-seat auditorium, library, gymnasium, coffee shop, eight storey car park and other recreational facilities.

"The selected contractor and design teams for the project are quite reputable and are ideal to implement the scope of requirements for such a high-profile project. Zublin was selected after an extensive commercial and technical evaluation process and were chosen on the demonstration of their expertise and market experience to implement the project," said the Senior Development Manager of Aldar Properties, HAzem Al Nowais.

The Manager of Data Center Services at Injazat said that the data center is likely to offer world-class services, while also giving us the ability to expand our service coverage across the entire region, providing clients with high level of performance.

Labels: New Contracts, Office Space

"; The office rents at Abu Dhabi has almost doubled during the last five months, says a recent report. Abu Dhabi, New Delhi and Sofia had witnessed the fastest growing office rents in the world during the past year, says data from CB Richard Ellis, a consulting firm.

The company reported London and Tokyo to be the most expensive office locations in the world. In London, the West End has an average rent rate of $241 (Dh.885) per Sq.Ft. for prime office accommodation.

New Delhi, too, made its entry into the top ten, replacing Mumbai, due to continued boom in information technology operations and in data-center. However, the fastest growing office rents were reported to be in Abu Dhabi, with rents more than doubling during the said period.

Sofia in Bulgaria was the third fastest growing rent market, with 63 percent increase in rents.

The world’s highest average apartment rents for expatriates were reported in Hong Kong, which was well ahead of New York, Tokyo and even London. On the whole, half of the top most expensive cities for rental apartments for expatriate workers were contributed by Asia, while Nairobi was the cheapest.

The survey was carried out by International human resources consultancy ECA among real estate agents, foreign workers and relocation companies, taking into consideration three bedroom unfurnished apartments as a base, which were commonly rented by expatriates.

Such an apartment in a popular area for expatriates at Hong Kong would cost $8600 (Dh.31,575) per month, followed by Tokyo which would approximately fetch $7360 (Dh.227,025) per month. After this, comes New York with $7250 (Dh.26,615) a month.

Huge increase of rental rates over the past decade was noticed in Dubai and Doha, with 100 and 130 percent respectively.

Labels: Abu Dhabi, Office Space, Rentals

"; Deyaar has launched its new office tower, worth Dh.300 million - Fifty one @Business Bay.

Placed in a prominent location, Fifty One @Business Bay will help catch a glimpse of the lake and the island, a landscaped area, and is located at close proximity to the world’s tallest tower, Burj Dubai. With a total of twenty one storeys, Fifty one @ Business Bay comprises 164 office spaces. Beginning 8th of May, the project will be displayed for buyers and investors at Cityscape, Abu Dhabi.

Labels: Business Bay, Deyaar, Office Space

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Labels: Commercial Property, Office Space