Thursday, July 21, 2016

Arabella 1 In Dubailand Going Strong

Dubai Properties (DP), a leading Dubai-based real estate master developer and asset manager of four major destinations in Dubai – JBR, Business Bay, Culture Village and DUBAILAND - has announced that the first phase of infrastructure work has been completed and building construction is now in full swing at the Arabella 1 Townhouses located within the Mudon community in DUBAILAND.

The main construction contractor, Trojan General Contracting Co. LLC (TGC), has mobilized onsite at the sold-out residential community in preparation for the commencement of the next phase of infrastructure work, which is scheduled to be completed by the end of 2016.

Located within Mudon, Arabella 1 is one of the most sought after neighborhoods of timeless, elegant and modern designed units with simple artistic lines and generous glass facades.  Homes at Arabella 1 Townhouses carve a new definition point for active living, encouraging the outdoors and a healthy lifestyle.

Masood Al Awar, Chief Commercial Officer, Dubai Properties said, “Arabella 1 is an exemplary development for DP as it fosters a local neighborhood spirit while offering a range of options to suit a range of buyers, from young professionals seeking comfortable housing, to families looking for a lively residential destination with a communal feel. As a leading master developer of iconic destinations that help steer the resurgence of Dubai’s real estate market, we are pleased to announce that the building construction work at the family-focused residential community is well underway.”

TGC, an Abu Dhabi-based construction company specializing in residential housing and the development of renowned self-contained communities in the UAE, sees the Arabella 1 project as an opportunity to positively contribute to the development of Dubai’s residential community infrastructure.

Eng. Hamad Al Ameri, Managing Director, Trojan Holding, commented, “In line with our vision and Dubai’s hosting of the upcoming World Expo 2020, we take pride in being committed to timely delivery and the highest quality of work across all our projects. The Arabella 1 housing project allows us to utilize our assets of vast and efficient manpower and cutting edge technology to deliver excellence. Arabella 1 Townhouses is undoubtedly going to fuel the real estate market with its unique and sought after offerings and we are very excited to be a part of such a prestigious project.”

In response to the extensive market needs, and with the aim to enrich the lives of residents, Arabella 1 Townhouses reflects Dubai Properties’ experience and understanding of the local real estate arena.

Arabella 1 Townhouses is planned to be completed in 2018 and Arabella 2 Townhouses was launched earlier this year due to strong customer demand.  The two townhouse projects are part of the master planned Mudon community.

Mudon occupies a prime location 15 minutes from the center of Dubai and is just over 10 minutes from the Mall of the Emirates and enjoys direct access to Emirates Road and Mohammed Bin Zayed Road via Hessa Street and Al Qudra Road. The exclusive three to four bedroom townhouses in Arabella 1 range from 1984 sqft to 2603 sqft and are nestled in amongst the community facilities at Mudon including sporting facilities, recreation areas, F&B, community services, healthcare, education, and other community amenities.

Monday, July 11, 2016

Exchange Tower, Business Bay, Handover Fully Completed

>The tower is fully live and operational, with 188 offices handed over to landlords

>Several landlords already enjoying 9% net on rental yield, one of the highest in the commercial property market

The handover at The Exchange Tower in Business Bay has been fully completed with 188 offices handed over to landlords. The tower, which was completed in January 2016, is fully live and operational marking a historic year for the Saudi-based real estate developer Tanmiyat Global, who also recently announced the Phase 1 handover of the Living Legends Community in Dubailand containing 184 villas and 144 apartments.

“This is an exciting time for Tanmiyat; 2016 is all about delivery and we are showing our commitment to our clients and partners with the completion of The Exchange Tower.

There is no doubt that the past several years have been tough for the construction industry in the region but we believe in this market and feel the only way is up from this point”, comments Mohammed bin Odah, CEO of Tanmiyat.

The Exchange Tower located in Business Bay opposite the JW Marriot Marquis, includes offices and retail spaces that have been finished to a high standard using top quality materials. With many offices already leased, several landlords are benefiting from a 9% net on rental yield, one of the highest in the commercial property market.

"The Exchange Tower is in a close proximity to the new landmark Dubai Water Canal and is in a fast growing location near the new address of the Dubai Financial Market. The location offers steady and clear growth potentials to our clients and we are already witnessing high demand from secondary markets on the tower. We are expecting Business Bay to attract more anchor brands and large corporations in the future", continues Mohammed.

The demand is partly due to the positive impact of Expo 2020 which has seen more companies relocating to Dubai and new start-ups entering the market. In fact, the Department of Economic Development in Dubai issued 22,691 business licenses in 2015, an increase of 17.4 percent compared to the total number of licenses issued in 2014.

“Recent market results have been a clear indication that Dubai remains an attractive destination for companies and investors due to robust economic activity prevailing in key sectors.

We are carefully monitoring the market and looking at potentials as we aim to keep expanding our portfolio”, concludes Mohammed bin Odah.

Tanmiyat’s key developments include the Living Legends Community containing apartments, villas and a mall, The Exchange Tower and The Court Tower on the Business Bay canal. Phase 2 of Living Legends will start handover in Q4 of 2016 whilst the full line-up of facilities including a school, mall and 5-star hotel will be complete in late 2017.

The handover of both The Exchange Tower and Living Legends projects demonstrates Tamiyat’s commitment to delivering icons in the UAE and the future looks  bright for the real estate developer.

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