Showing posts with label office. Show all posts
Showing posts with label office. Show all posts

Predicting the Dubai property market

16 November, 2007
Here's an interesting excerpt from an article by Ryan Mahoney of The Gulf News, published today.

If I had a dirham for every time I was asked what is going to happen to property prices in this market I would have built up a tidy sum by now! The truth of the matter is that nobody has the definitive answer, we can debate for hours on end and come up with a likely scenario, but without a crystal ball it's tricky. It is possible however, to look to other similar markets and consider the natural cycle of real estate for guidance so for what its worth, here are my thoughts on one of the most frequently asked questions in Dubai.

There are many factors that affect the price of property but the biggest single factor that has influenced the Dubai market over recent times has been supply and demand. At a time when the majority of units are still under construction, we have seen an incredible level of demand for all types of properties; from apartments to villas and warehouses to office towers.

When the freehold property law was introduced, the Dubai property boom was born. Attractive launch prices along with unique and aspirational projects such as The Palm Jumeirah and The World made Dubai an investor's paradise. Speculators looked for quick returns by capitalising on an untapped market, expatriates bought somewhere to live and holidaymakers looked to these shores for a second home.

Ever since, demand has continued to increase, pushing prices up with it, providing investors with fantastic returns, both in terms of capital growth and leasing revenue. Such increases have spurred more people to buy here, creating further demand and driving prices up.

The massive influx of people, driven by Dubai's positioning as a major business hub for the region and a luxury holiday destination, has created an insatiable demand for property. All new residents need a place to stay and in the same way, multinationals need business premises. The pace of growth means there hasn't been enough property to go around and therefore, any completed property available for sale or lease has been at a premium rate.

The second biggest factor affecting the supply shortfall, and therefore prices, is delivery delays. In many cases, construction has taken far longer than was ever expected, adding further pressure to an already strained market.

So getting back to where I started; what does the future hold? Dubai is currently a hive of construction activity and as each development reaches completion, more products become available. However, as these projects are delivered, there will, of course, be more and more people relocating to Dubai for work, the number of which will affect how long it takes for supply to even out. The nature of real estate suggests that at this point we could see a levelling of prices.

Ultimately though, I don't see anything drastic happening to prices. Dubai still has a lot to offer buyers. With increased regulations adding further credibility to the market, and the current strength of some foreign currencies making Dubai property more affordable, as well as some exciting new projects underway, demand should remain a firm favourite with buyers for some time to come.

Finding the right property

24 October, 2007

Looking for property on the Dubai real estate market can be a daunting task, there is just so much choice and variety. Most overseas property investors are only familiar with the largest of property developments such as the Burj Dubai or the Palm Trilogy, yet there are so many more that can also be more affordable simply because they haven't received the same level of hype. Thats why its important to seek expert local advice when considering investments in Dubai.

The most important thing that property buyers need to know is what exactly is available on the market. Besides the most commercial of projects, there are also a good variety of projects that cater to property investors that want something more affordable. Whatever your taste, there really is property to suit every need, from small apartments to penthouses, comfortable villas to luxury mansions.

Property prices stretch across quite a large range, with studio apartments available from around £50,000 to £140,000. Larger apartments can range up to the £700,000 mark and for villas, as they tend to be in short supply, they can range from around £300,000 for a smaller villa or town house, upwards beyond £700,000 and even in some cases beyond £1.5m for exclusive luxury villas and mansions. At the top end are luxury custom personalized penthouses which stretch all the way to £7m.

The prices of property really depends on the amount of square footage, location, the type of project and the number of units available. Fortunately, the sheer variety of projects allow you to pick and choose the property that is right for you

We work with the region's largest independent developer, and have access to an unrivalled variety of property in the region - residential, offices, and retail - and with project ranging from around £50,000 up to £7m there is something to suit every investors budget.

See our property lists here online or contact us now to speak directly to an expert.
Residential
Office
Retail

OFFICE PROPERTIES

WATER'S EDGE
Water's Edge is a spectacular 20-storey waterfront tower offering the ultimate convenience for anyone seeking to work and enjoy their leisure time in one strategic location. Offering vistas of sparkling water, buzzing and vibrant surroundings, activities, events and wide-open spaces, this tower gives a whole new definition to a work environment. Employees, clients and business associates can enjoy the diversity that comes with working and rejuvenating both side by side.

Type: Office
Location: Business Bay, Dubai
Completion: TBC
Accommodation: 1355 - 2100 sqft.
Prices: ~ 2,500,000 - 3,900,000 (AED), 360,000 - 560,000 (GBP)

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THE CORNER
The Corner at Business Bay is a spectacular 19-storey office tower, ideally located for those who enjoy being in the midst of all the action. Working here is intended for people who seek to be associated with a vibrant community of like-minded individuals. From an incredible architectural style to the breathtaking views outside, The Corner at Business Bay provides a fitting ambience for multinationals seeking to establish base in this region.

Type: Office
Location: Business Bay, Dubai
Completion: TBC
Accommodation: 920 - 1600sqft.
Prices: ~ 1,600,000 - 2,800,000 (AED), 230,000 - 400,000 (GBP)

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PARK CENTRAL
Park Central is a spectacular 17-storey office tower, right in the heart of Business Bay. An ideal location for those who enjoy being in the midst of all the action. With offices designed to give you fantastic lake views from three sides of the tower.

Type: Office
Location: Business Bay, Dubai
Completion: TBC
Accommodation: 900 - 1600 sqft.
Prices: ~ 1,600,000 - 2,800,000 (AED), 230,000 - 400,000 (GBP)

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EXECUTIVE BAY
Designed to the highest standards and offering a previously unimagined office environment, Executive Bay is a 19-storey marvel. Situated on a prime waterfront location in Business Bay, it offers dramatic views of the region's new business hub. From an incredible architectural style to the breathtaking views outside, working here is intended for people that seek to be associated with a vibrant community of like-minded individuals.

Type: Office
Location: Business Bay, Dubai
Completion: TBC
Accommodation: 950 - 1250 sqft.
Prices: ~ 1,600,000 - 2,200,000 (AED), 230,000 - 315,000 (GBP)

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XL TOWER
An excellent environment and infrastructure for businesses from around the world to set up their local, regional and international headquarters located next to Downtown Dubai.
A master development of all developments, Business Bay is the new emerging freehold business, commercial and residential district. Next to Downtown Dubai (Burj Dubai), along Sheikh Zayed Road, extending up to a new creek and all the way to Dubai's coast.
XL Towers is a modern elegance designed for commercial use. Where professionals can enjoy their own space, in every sense of the world. Airy lobby, Spacious elevators, Expansively planned workstations etc. A project with a place for everything and everything in its place.

Type: Office
Location: Business Bay, Dubai
Completion: Oct-08
Accommodation: 1000 - 1500 sqft.
Prices: ~ 2,100,000 - 3,100,000 (AED), 300,000 - 440,000 (GBP)

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BUSINESS TOWER
A symbol of dynamism and growth, the Business Tower at Business Bay is a signature commercial building which stands out among the others. An innovative office design with leading edge sustainability, the form of the tower is in direct response to the path of the sun as it moves around the building thus encouraging maximum natural light into the office. Contributing to the perfect balance of light is an exterior layer of translucent screen and solar shading, which keeps away harsh glares and ensure soft filtered light into the office.

Stay ahead of competition. Work better. Meet deadlines earlier. Make smooth transactions a daily routine. And to this end, Business Tower offers varied infrastructure which makes all this easily possible.

Type: Office
Location: Business Bay, Dubai
Completion: Dec-08
Accommodation: 1200 - 1300 sqft.
Prices: ~ 2,500,000 - 2,800,000 (AED), 360,000 - 400,000 (GBP)

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PARK TOWERS
Inspired by the evolution of Dubai and the undulating soft forms of the desert, the Park Towers is an incredible twin landmark, designed by the finest architects in the world. Its duality is expressed by two vertical solid fins, which represent the rigid urban form reaching into the sky, from which the curved expressive soft form of the tower façade is suspended. .
Minutes away from the hip and happening parts of the city, Park Towers offers a panoramic view of Dubai and the new financial centre and is poised to be the most sought after address in Dubai's International Financial Centre.

Type: Office
Location:
Completion: TBC
Accommodation: 2100 - 2800 sqft.
Prices: ~ 6,500,000 - 8,300,000 (AED), 930,000 - 1,200,000 (GBP)

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Please note: We do our best to ensure that price guides are accurate, but prices can change. Therefore prices shown are for guidance only. Equivalents shown in £ (GBP) are calculated using an approximated exchange rate, and are also for guidance only. Exchange rates are always subject to fluctuation. We will be happy to confirm prices on request.