Wednesday, 28 September 2016

Famous Areas after the Rise in Dubai Rents

Cost of housing in Dubai was cheaper in August as compared to prior months, but some tenants in popular communities are still witnessing rise in the prices.

Recent property review displayed that Dubai rents for most types of apartment reduced by 5 % in the month of August. However, a close look at prices of various localities unveils contrasting trends with values moving upwards for some of the famous areas like International City, Bur Dubai & Jumeirah Lake Towers.

The city rental market reflected the affordability factor in August 2016 which also remained the center of discussion in Dubai. The rental market for apartment saw the values going down which delighted the renters according to the report of, a property portal having thousands of property listed with it.

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The report of property specialist of august 2016 stated that the median prices for studio flats across different locations were priced at Dh 54,000 which amounted to 5% drop from previous month. In bur Dubai and international city’s studio flats experienced a rise in the rentals of about 4% and 11% resp.

There was a slight increase in the rents for 1BHK by 1% to Dh 93,000 on average in august, Whereas 2 bed unit experienced 2% decline on an average costing Dh 142,000.

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1 bedroom property remain unaffected in Dubai Marina costing at Dh 1,336 per year but the prices dropped by 3% in Business Bay from Dh 96,324 to Dh 93,786.

Prices for 1 bedroom flats were increased by 3%, 5%, 1% and 11% in JLT, International City, Downtown Dubai and Bur Dubai resp. 3 bedroom flat prices decreased by 4% from Dh 206,000 in July to Dh 197,000 in august.

Costing for accommodation in Abu Dhabi continues to be strong in August with an average rental value registering increase of 3% over July 2016.

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Two main markets of UAE still attracts investors with relatively affordable prices and luring rental ROI with Dubai measuring real estate transactions worth an amazing $43 billion by the year end of August 2016.

Rental price changes in select communities (between July and August 2016)

Bur Dubai: From Dh 70,466 to Dh 78,236 (11 per cent)
International City: From 47,207 to Dh 49,554 (5 per cent)
JLT: From Dh 87,717 to Dh 90,623 (3 per cent)
Downtown Dubai: From Dh 117,841 to Dh119,008 (1 per cent)
Dubai Marina: From Dh 101336 to Dh 101,453 ( 0 per cent)
Dubai Silicon Oasis: From Dh 62,527 to Dh 62,700 (0 per cent)
Business Bay: From Dh 96,324 to Dh 93,786 (-3 per cent)

These prices are for one-bed flats.

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Saturday, 24 September 2016

Mexican Independence Day In UAE Style!

FRIDAY MARKS MEXICO’S Independence Day and the UAE’s Latin eateries are the ideal spot to celebrate. Some are putting forth gives, some aren’t, yet at these main five decisions you’re continually going to have a decent time.

1. All You Can Drink And Eat At Bu!
In a joint effort with the Mexican Embassy in Abu Dhabi, the capital’s BU! has assembled a set menu, including exemplary devouring plates; Mexican banner flautas, customary soups, quesadillas and churros. The individuals who purchase a round of Mexican spirits will likewise be gone into a Pinata style attract with an opportunity to win confection treats and prizes. Mexican nationals get their first drink on the house, giving you indicate proof of ID. The set menu is accessible until September 17.
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2. Opening In The Nick Of Time
the Atrium feasting complex at Al Habtoor City in Dubai opens tomorrow night and arranged at its heart is Mexican and Latin diner Zoco. Gourmet expert Jimmy Rojas Lopez will serve up a menu made for party style sharing. Think little plates with enormous flavors, from tacos and guacamole to customary mark family formulas from the roads of Mexico.
3. A Cal-Mex Twist              
Hailing from The Golden State, California, Tortilla has as of late dispatched at Festival City, Dubai.
Tortilla’s menu pays reverence to Mexican road nourishment with a cool, Californian turn. The ‘manufacture your own’ methodology is a decision of Burritos, Tacos and Quesadillas, washed down with a solidified Margarita mock tail.
4. The Firm Favorite
Loca has long been Dubai’s main Mexican foundation, and we as a whole comprehend what they specialize in. The crisp guacamole is dependably an unquestionable requirement, yet in the event that you need to fan out, why not attempt the Friday informal breakfast? This five-hour epic show is Dhs 270 per individual and serves up a scope of dishes at both the Marine Club and new Souk Al Bahar areas.
5. Beach-Side Dining
Poco Loco at The Beach is all the more a family-accommodating joint and, right on the shoreline, makes for an extraordinary spot to see out the night. We need to rave about the hot churros with Cajeta for afters, however there’s an entire menu to scrutinize. Each Friday and Saturday appreciate boundless segments of starters, for example, spiced chicken tinga and ceviche classico of ocean bream, or primary courses like chicken anticucho with amarillo cream and smaller than usual quesadillas for Dhs 99 per individual.
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Dubai Ranks Top in Visitor’s Expenditure Worldwide with $31.3b

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

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

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The biggest surprise in this year’s index is the jump of Dubai to the top rank exceeding the 2nd ranked London estimated at $19.8 billion.
As per the experts comment, Bangkok is indicated to receive 21.47 million international overnight visitors in 2016, just ahead of 2nd ranked London which is to serve 19.88 million visitors. The British capital has topped the 2015 but it doesn’t say that why some of its shine has worn off for the travelers this year. The 2 cities have topped the ranking for most of its history.
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For rest of the cities includes New York, Singapore, Kuala Lumpur, Tokyo and Seoul.
“The way people travel and spend across the borders reveals how interconnected and significant the world’s cities are,” said the president of International Markets, MasterCard. “As the planning of the trip and experience become increasingly important, MasterCard is bringing all these pieces together through connections and innovation.”
The Index provides more than the ranking of the 132 mostly visited cities around the world. It projects visitor volume and estimates of the expenditure for the 2016 calendar year, while exposing deeper understanding of how people travel and spends across the world. As fast pace of spending and travel across cross-border continue to increases than the world GDP, the cities of the world continue to be engines of wider economic growth.
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The difference between global top 10 and fastest developing top 10 destination cities discloses that Asia Pacific, Middle East and Africa have become increasingly significant for the global economic landscape. Many cities on the Index have increasing growth trajectories, revealing the rising interest in both visiting and living in cities, MasterCard said.

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Osaka has shown the fastest growth (24.15 per cent) over last 7 years. Other cities which were forecasted as top 10 fastest growing cities include: Abu Dhabi – 19.81%, Chengdu – 20.14 %, Colombo – 19.57%, Tokyo – 18.48%, Taipei – 14.53 %, Riyadh – 16.45%, Tehran – 12.98%, Xi’an – 14.20%, and Xi-amen – 12.93%.
For the first time, the Index explored whether visitors travel for leisure or business as well as insights into how international visitors spend, including of dining, lodging and shopping. 2016 Index shows that among the top 20 cities, more people travel internationally for leisure, except to Shanghai.
Top 20 visitors overwhelmingly spent more on shopping, as opposed to dining, apart from Europe, where meals captures greater share of expenditure in Amsterdam, Barcelona, Istanbul, Milan, Paris, Prague and Vienna.
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Monday, 12 September 2016

Paying Tribute To The Spirit Of Sacrifice- Eid-Al-Adha

Eid-Al-Adha is the festival of remembrance of Prophet Ibrahim’s entirely submission to the will of God. Festivals come and go but we hardly notice that what is the purpose and why we really celebrating it. For many of us, Eid means vacation, food, shopping and fun.

So what is Eid Al Adha all about? To make it more meaningful, one need to get into the facts and trials and tribulations, the pain and the turmoil that Prophet Ibrahim went through to emerge triumphant by surrendering to the will of god.
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The celebration marks the willingness of him to accept the command of the god, who in order to test his sincerity and obedience asked him to sacrifice his dearest & only son, Ismail. Such was the unconditional love and devotion of Ibrahim towards the god that upon hearing the command, he gets ready to submit to god’s will. When he was about to sacrifice his son, god revealed that his sacrifice has been fulfilled already. He was surprised to see that his son was unharmed and safe and instead, he found a ram slaughtered in front of him. Ibrahim had passed the test by demonstrating his devotion to carry out the god’s command.
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This is not only about history, it is about the lessons that we can learn from this and can implement into our daily lives.
How obedient we are as Muslims when talking about present day. The meaning only of which is the one who submits to Allah. Can we sacrifice our dearest possession for the love of Allah? Are we obedient enough so that we can call ourselves Muslims?
At times during these festivals, we end up doing things completely forbidden in Islam. These include acting conceited, showing off the wealth by over indulgence in food and clothes, backbiting, etc.
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An Islamic teacher, Sadaf Ather says that Eid is celebrated 2 times in a year but we have never thought of the difference between the two Eids. We always think of it as festivals celebrated by eating good food and wearing new clothes. That is the reason both celebration looks similar.
Eid Ul Fitr is showing gratitude to Allah and Eid Al Adha means showing how much we can sacrifice for Allah. By sacrifice, it means surrendering dearest possession to Allah.
Here it means surrendering things that we most value in our lives. For e.g. If anyone is too possessive about his respect, can he forgive someone who disgraces him? Our possessions can be our relationships or habits or belongings. So are you ready to sacrifice them?
The level of devotion that Ibrahim and Ismail have, been accepted by God and it pleased him to a degree that Allah made it a tradition to be practiced till the time ends. For paying tribute to the tradition of sacrifice, Muslims across the worlds slaughter an animal which is a mix of sheep and goat and offer prayers. This Eid centers on prayers, animal sacrifice, giving charity and meeting family and friends. Muslims encourage those less fortunate in the celebration.
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The meat prepared from the sacrifice given is mostly given away to others. One third is eaten by immediate family and relatives and other one thirds is given away to friends and rest is donated to poor.
It’s a day of happiness and rejoices. One should share the happiness and distribute to as many as possible by gathering with family, meeting people, embracing them whole heartedly, visiting relatives and friends; exchanging gifts, giving charity to poor and needy and above all, remembering Allah by doing Dhikr (remembrance of Allah).
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New Home Owners In Dubai Gets Penalty For Delays

Many who bought great off plan launches Dubai realty saw from 2012 have started to ask that where are their properties and not getting much for a reply. They are asking from their developers.
For them, the wait continues for their properties to be delivered. It is likely to be a approximated that only 60% or so of these launches have gone through the handover process.

On the annual supply of newly completed homes in Dubai, this year it has started to tell and the market would be lucky to experience another 8000 units getting delivered.
In the first 7 months, only 18% which is 4,769 units of the estimated 27,000 units have been handed over, according to a data.
Private sector’s developers of Dubai especially are in no rush to see their already existing projects.
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Unmet Obligations & Delays
They could be slipping back into the habit of delaying the projects and giving no heed to meet their obligations towards the buyers. The tactic is not helping for the good of market. The number of supplies has fallen below the projection level over past 3 years and this year it is likely to be lowest in 4 years as per the MD of Global Capital Partners.
It appears that H2-16 will be having same deliveries as H1 which is 4,700 units. Controlling the supplies is the way through which this tightness can be responded which took hold of the property market since mid 2014, the year which saw 18000 rough deliveries and year 2015 it was around 11,000 units.
Their argument is that by restricting the supply, it will make sure that property values will not soften quickly. Also with their cash positions under stress, there will be a natural effect on the schedules of the project.
Again this is not representing the whole market, as per the consultancy in its last updation on Dubai’s situation. A few of the prime developers delivering key flagship projects stayed relatively on track for their timeline of deliveries.
Also the developers that concern over excess supply destroying the values don’t seem to hold water. The market is experiencing a soft in values and not a crash as it was back in 2009-10. All of the established locations of Dubai- Palm, Dubai Marina and Downtown can take the corrections in their stride. Existing investors have not yet panicked.
Whether government owned or private-developers are still launching. It’s been days since it has announced that Palm 360 hotel & residences and apartments including 12,000 square feet penthouses will be carrying a super premium tag.
Real estate giant Shapoorji Pallonji is also making its entry into real estate development with its offering in upscale residential in Downtown. If they would have been concerned about the market response, they won’t be launching this now.
The investors will need to make the payment obligations to the developer/mortgage leader. When the delay happens, it means that their chances of recouping those investments get put back by so many years. At a point, these investors may lose patience and can file a complaint against relevant authorities.
Penalties for Delay
The introduction of the penalties for the delay is a practice which is prevalent in many markets and provides some relief to buyers- notwithstanding further impact on delivery margins and their ability to align stock with demand. For private developers, the situation is full of after effects. The next wave of buyers would give their attention and funds to government owned developers and their launches or ongoing projects.
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Such a consolidation of buyer interest on a few of top developers can cause chaos in private developer ranks. They will blame themselves if insisted upon stretching the few projects beyond 4-5 years.
The next time Dubai’s property market heads for an upturn, they could be the ones left well and behind.

Friday, 9 September 2016

Cityscape Global Exhibition Investors Meet

On its 15th year anniversary, Cityscape is organizing programs like global exhibition investors meet, global conference, awards and cocktail evening and talks. Cityscape will be conducting this event at 9 places which includes Turkey, Qatar, Kuwait, Korea, India, Jeddah, Egypt, Dubai and Abu Dhabi. These events will be organized on different dates at these areas including this year & coming year.

Dubai is going to hold this event during 6th – 8th September, 2016. It is the largest and most influential investment and development for real estate event for the markets which are emerging globally. Bringing together the developers, investors, government officials and real estate professionals, and one can find opportunities and new business partners for investment. The venue for the cityscape global exhibition meet is Dubai World Trade Centre, UAE on Tuesday, Wednesday and Thursday 10 AM to 7 PM.
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Cityscape Global Conference is new addition to the Cityscape Global 2016 and is a complete overhaul of Cityscape’s conferencing offering. It is taking place a day before the exhibition and the venue is Conrad Hotel Dubai. The dedicated convention consists of three varied programmes which will bring together 1,291 delegates and speakers which is a record in itself.

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Cityscape Awards for Emerging Markets will reward industry professionals and companies which are involved in the real designing and creating amazing developments for real estate for projects of built and future both over emerging real estate markets globally. The cityscape awards this year will assimilate cocktail party which will take place once the official award ceremony gets over. The venue for this will be Dubai World Trade Centre.
Cityscape Talks is a free use seminar theatre for the exhibitors to engage with Cityscape Global audience on about a varied range of topics while the event goes on. It will be positioned in the middle of hall 1st. The venue is Dubai World Trade Centre.
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Cityscape Global Exhibition event has several sponsors and partners like Emmar Group, Nakheel, Dubai Properties, Union Properties, AYKON City, Al Marjan Island from real estate field. Other sponsors are for talks, broadcasting partners, supporting partners and news partners.
Purpose of the Visit and Who can Visit?
For connecting with the world’s top leaders of real estate and be updated about the trends in the same and develop business opportunities globally with over 280 exhibiting companies that one cannot afford to miss. Gain insight from its world class conference schedule while networking with over 47 thousand industry peers.
Discover the opportunities available in the global real estate market, about what is new and what is on track for delivery. You can also share your knowledge in person or through interactive session which are content rich. Learn about the regulatory framework and how to improve transparency to support the investors. Also regarding the offerings that gives best returns on your investment. Link it with cross section of real estate professionals.
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It is to bring together full spectrum of real estate professionals to network and discuss the critical business issues that affect business decisions in the market. An international market campaign capitalizing on world’s largest B2B database of real estate will make sure regional and international investors as well as financers, developers over all architects, planners, consultants, investment representatives, economic agencies and cities, etc.
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Thursday, 8 September 2016

Dubai Opera House – A New Landmark of Dubai

The UAE’s cultural scene took a great stride forward on Wednesday night with the huge opening of the Dubai Opera, inaugurated in well glorious fashion by a man popularly dubbed the ‘king of opera’.

With a stunning opening concert by legendary tenor Placido Domingo, presenting the Spaniard’s vocal virtuosity over popular arias, duets and Broadway staples alike. Strolling the scene theatrically, the 75-year-old star made his gusto entrance with Giordano’s Nemico Della Patria, Domingo’s generous charisma beaming from the stage.

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Performing alongside various co-star, soprano Ana Maria Martinez, the first half climaxed with a couple of stunning duets from much-loved operas La Traviata and Il Trovatore, both from the pen of the Italian master, and Domingo favorite, Verdi.
Things took a moderate turn in the second half, with works from Broadway breaks My Fair Lady and West Side Story, a full production of the Broadway crash will reach Dubai Opera in February.
Throughout, Domingo was supported by Trieste’s 65-piece Fondazione Teatro Lirico ­Giuseppe Verdi, who were given the limelight to open the evening with the dynamic approach to Wagner’s Die Meistersinger von Nurnberg.
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Domingo is famous beyond the opera community as one of the record-breaking 3 Tenors trios, alongside the late Luciano Pavarotti and Jose Carreras, who also on stage at the Dubai Opera on October 4 and 8.
While there was no formal dress code, most of the fans turned out in style to stroll the red carpet, with many of the men in black ties, while women wore showy ball gowns.
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The 2,000-capacity Dubai Opera has been praised as the region’s first world-class, purpose-built concert venue. The opening weeks will highlight a mix of classical orchestras, dance, ballet, world and Arabic music, as well as hits musicals and family shows.
Chief executive Jasper Hope, who came after 7 years heading London’s Royal Albert Hall, addressed the opening as a new phase in Dubai’s evolution as a world-class city.
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The 47-year-old British expatriate said; ‘This is a time of history, not just in Dubai, but in an even deeper sense, Countries don’t make their first opera house very frequently. Countries don’t spend in culture and art with such a very clear account. That’s part of the idea of Dubai, and it is amazing to find oneself a part of.’
Making of the dhow-shaped venue began in March 2013, a year after the project was declared by Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, who visited Wednesday night’s concert and practices earlier in the day.
The concert venue will form the centerpiece of the wider Dubai Opera District, a different downtown cultural neighborhood mixing hotels, residential buildings, parks, shops, and a waterfront walk.
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Mr. Hope said; ‘Everybody understands something about Dubai, but at the time, they don’t understand anything about music or opera in Dubai, I would like people to start recognizing that we have Burj Khalifa, we are presenting Expo 2020 but we also have a wonderful opera house.’
The Dubai Opera’s memorable opening weekend continues on Thursday night with a concert of Bizet’s opera The Pearl Fishers, while tomorrow Rossini’s excellent comedy, The Barber of Seville, takes to the scene.

Dubai Logo Shaped Water Park: Largest In The World To Be Open In Dubai

The largest water park in the Middle East is set to open at the beach opposite Jumeirah Beach Residence.
The park is designed as an inflatable obstacle course where the visitors will need to overcome a number of obstacles like ramps, slides, wriggle bridges, curves and towers to reach to the end points. It’s promising to those who seek for new thrills and adventure and attraction in Dubai.

The park is the shape of Dubai’s logo which is official that combines the word Dubai in Arabic and English and can hold up to 500 people at a same time on its 77 meter by 33 meter obstacle course. Eight lifeguards and even more than that will be on duty to make sure of the safety, according to Emirati Ahmed Ben Chaibah who is the founder of park designer Aqua Fun.
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The mission is to create fun memories for the youth and its families. Everyone has a child inside them who wants to be unleashed and through aqua fun; spaces and activities are provided to them.
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In 2013, the company launched the largest inflatable slide registered in the world, made in the colors of UAE flag and launched on National Day at Abu Dhabi’s chronicle.
Dubai Aqua Park will remain open from Thursday 1st Sept at JBR and will be open from 7 am until 1 pm.
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