NEWS BRIEF 04 - Asteco Property Management ... OFFICE TOWER SALE IN ABU DHABI WAS TOP DEAL IN 2017...

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Transcript of NEWS BRIEF 04 - Asteco Property Management ... OFFICE TOWER SALE IN ABU DHABI WAS TOP DEAL IN 2017...

  • DUBAI | ABU DHABI | AL AIN | SHARJAH | JORDAN | KSA

    © Asteco Property Management, 2018 asteco.com IN THE MIDDLE EAST FOR 30 YEARS

    ASSET MANAGEMENT SALES LEASING

    VALUATION & ADVISORY SALES MANAGEMENT OWNER ASSOCIATION

    RESEARCH DEPARTMENT

    NEWS BRIEF 04

    SUNDAY, 28 JANUARY 2018

  • DUBAI | ABU DHABI | AL AIN | SHARJAH | JORDAN | KSA

    © Asteco Property Management | 2018 | asteco.com

    IN THE MIDDLE EAST FOR 30 YEARS

    Page 2

    ASSET MANAGEMENT SALES LEASING

    VALUATION & ADVISORY SALES MANAGEMENT OWNER ASSOCIATION

    REAL ESTATE NEWS

    UAE / GCC

    WHY DEVELOPMENT PHASING IS KEY IN MASTER PLANNING

    WHY MILLIONAIRES LOVE UAE

    UAE RANKED 13TH MOST PROMISING ECONOMY FOR INVESTMENT

    UAE HOTEL OCCUPANCY SURGES AS RATES DROP IN 2017: STR

    MIDEAST INVESTORS HAVE REASONS TO RETAIN TRUST IN CITY

    FOR FACILITIES MANAGERS, KEEPING IT SIMPLE GETS THE JOB DONE

    THE VALUE OF LUXURY REAL ESTATE

    THE OFF-PLAN IMPACT ON DUBAI REAL ESTATE

    A HOME AND AN INVESTMENT

    JLL NAMES THIERRY DELVAUX NEW REGIONAL CEO

    UAE GOVERNMENT RANKED SECOND IN TRUST GLOBALLY: STUDY

    UAE'S AZIZI SAYS PALM PROJECT TO BE DELIVERED AHEAD OF SCHEDULE

    REVEALED: THE ONLY PROPERTY SECTOR SHOWING GROWTH IN THE UAE

    DUBAI

    DEVELOPER LAUNCHES WATERFRONT APARTMENTS

    WHY DAMAC CHIEF IS OPTIMISTIC ABOUT DUBAI

    SHEIKH MOHAMMED REVIEWS RAPID PROGRESS OF DUBAI CREEK TOWER

    PRIVATE DEVELOPERS DOMINATE READY HOUSING MARKET IN DUBAI

    FIRST PHASE OF DUBAI BUILDING CLASSIFICATION COMPLETE

    DEVELOPER LETS LOCATION, PRICING DO THE TALKING

    EMAAR PROJECT CLINCHES DH1 BILLION WORTH OF SALES

    UNION PROPERTIES SELLS EMICOOL STAKE FOR DH500 MILLION

    EXPO 2020 AWARDS DHS670M CONTRACTS TO LAING O'ROURKE

    DUBAI’S PROPERTY MARKET TOYS WITH CRYPTO POSSIBILITIES

    DUBAI’S RENTAL INDEX COULD REFLECT NEW CLASSIFICATION

  • DUBAI | ABU DHABI | AL AIN | SHARJAH | JORDAN | KSA

    © Asteco Property Management, 2018 asteco.com

    DEFINING LANDSCAPES SINCE 1985

    Page 3

    ASSET MANAGEMENT SALES LEASING

    VALUATION & ADVISORY SALES MANAGEMENT OWNER ASSOCIATION

    REAL ESTATE NEWS

    DUBAI’S 2018 FREEHOLD ACTION STARTS ON THE WATERFRONT

    DUBAI TOURISM AND HUAWEI INK DEAL TO PROMOTE DUBAI IN AFRICA, CHINA

    NO NEGATIVE TRUMP IMPACT ON BRAND SAYS DAMAC'S SAJWANI

    DUBAI PROPERTY PRICES TO REBOUND IN 2018, SAYS NEW REPORT

    DUBAI’S DEVELOPERS HOLD BACK PASSING ON VAT COSTS TO BUYERS

    SMALL IS BEAUTIFUL

    ABU DHABI

    ABU DHABI HOUSE RENTS TO DECLINE MORE

    ABU DHABI HOTELS SEE RECORD GUEST NUMBERS

    DH220 MILLION ALUMINIUM PLANT OPENS AT KIZAD

    ABU DHABI RENTS WILL REMAIN UNDER PRESSURE

    OFFICE TOWER SALE IN ABU DHABI WAS TOP DEAL IN 2017

    ASTECO EXPECTS 'MODERATE' DIP IN ABU DHABI HOUSING PRICES, RENTS IN 2018

    MIRAL SAYS 80% OF UNITS LEASED AT ABU DHABI CORNICHE LEISURE PROJECT

    NORTHERN EMIRATES

    SHARJAH APARTMENT RENTS SEE STEEP DECLINE IN 2017

    RAKTDA, AIRBNB INK AGREEMENT

    SHARJAH VILLA RENTS DEFY ODDS TO INCH UPWARDS

    INTERNATIONAL

    PRICEY CENTRAL LONDON HOMES GET OVER ADJUSTMENT ISSUES

    DP WORLD AND INDIA'S NIIF TO INVEST UP TO $3BN IN TRANSPORT, LOGISTICS

    DOWNTOWN OFFICE MARKETS RECEIVE DISPROPORTIONATE AMOUNT OF NEW

    SUPPLY IN US

    TOKYO PRIME OFFICE RENTS TO DIP IN 2018 FROM NEW SUPPLY ADDED

  • DUBAI | ABU DHABI | AL AIN | SHARJAH | JORDAN | KSA

    © Asteco Property Management, 2018 asteco.com

    DEFINING LANDSCAPES SINCE 1985

    Page 4

    ASSET MANAGEMENT SALES LEASING

    VALUATION & ADVISORY SALES MANAGEMENT OWNER ASSOCIATION

    WHY DEVELOPMENT PHASING IS KEY IN

    MASTER PLANNING Tuesday, January 23, 2018

    According to data from the Dubai Land Department, total transaction value in 2017 reached Dh285 billion

    through 69,000 transactions. Top locations were Downtown Burj Khalifa, Business Bay and Dubai Marina, and

    UAE investors led the tally as the top nationality with investments amounting to Dh25 billion, followed by Indians

    with Dh16 billion and Saudis with Dh7 billion worth of investments.

    Continued transaction activity amid declining price and rent performance in the emirate reflects positively on the

    attractiveness of real estate assets for regional and international investors. Prevailing yield compression in the

    residential market has still maintained levels higher than what investors are likely to earn in other real estate

    hotspots such as New York City, London, Hong Kong, among others.

    Even as buyer interest is tilting heavily towards off-plan transactions (more than 67 per cent of overall

    transactions in 2017 were in this category), developers are increasingly aligning project concept, phasing and

    delivery with end-user demand. Among the newer formats being launched are integrated developments that

    combine residential, commercial, cultural and entertainment offerings. As Dubai continues to grow, this style of

    urban planning is crucial to maintain a 'city life' feel, while differentiating quality developments from run-of-the-

    mill stock commonly seen in the past.

    Developers have begun focusing on the positioning of the entire development at the master planning stage,

    which gives them control over not only the residential units being built but also the theme and vision for the

    community as a whole. This includes provisioning for schools, community retail, healthcare and hospitality early

    in the development process rather than as an afterthought.

    Some examples of such developments launched recently include La Mer, Dubai Harbour, Marasi Business Bay

    and Bluewaters island. La Mer by Meraas is an integrated development of residential, commercial, leisure and

    hospitality components. Located between Pearl Jumeirah and Jumeirah Bay, the 13.4 million sqft development is

    spread over three areas - La Mer South, La Mer North and The Wharf. The community has 848 units under

    construction, 688 of which are apartments and 160 of which are hotel rooms, expected to complete in December

    2020.

    Another integrated development by Meraas is Dubai Harbour launched in 2017. It is a waterfront destination

    spread across 20 million sqft. The mixed-use development will combine high- and low-rise buildings, waterfront

    villas, hotels and offices. The master plan includes Skydive Dubai, Dubai International Marine Club, Logo Island

    and Dubai Lighthouse, which is a 135-metre-high tower that will house a luxury hotel.

    Meraas is also developing Bluewaters Island off the coast of Jumeirah Beach Residence. The project combines

    luxury apartments, penthouses and townhouses and is expected to be completed by 2021. Among the under-

    construction elements are 10 residential towers with a total of 702 one, two and three-bedroom apartments, as

    well as 17 townhouses, 150 retail shops and two luxury hotels. The destination is also home to Ain Dubai, the

    world's largest observation wheel.

    Across town near the Downtown area is Marasi Business Bay by Dubai Properties Group. The development is

    spread across 12km of waterfront promenade along the Dubai Water Canal and Dubai Creek. The development is

    divided into three areas - The Yacht Club, The Park and The Pier and is expected to complete in December 2022.

  • DUBAI | ABU DHABI | AL AIN | SHARJAH | JORDAN | KSA

    © Asteco Property Management, 2018 asteco.com

    DEFINING LANDSCAPES SINCE 1985

    Page 5

    ASSET MANAGEMENT SALES LEASING

    VALUATION & ADVISORY SALES MANAGEMENT OWNER ASSOCIATION

    The first of four Marasi Towers, Riverside, is set to be handed over in 2020. With a project budget of Dh1 billion,

    the master plan integrates a range of amenities to cater to its residents and visitors.

    These new developments point to a progressive shift towards building communities and from the developer point

    of view, this goes beyond simply selling residential units and exiting from the area. Through integrated retail and

    hospitality components, there are wider asset classes for investors to participate in the project, while end-users

    and visitors are expected to be drawn to the development over a longer time frame.

    Additionally, in a cyclical real estate market such as Dubai, such communities are expected to fare better during

    periods of declining rents and occupancy pressures in the wider market, such as that seen over the last 12 to 18

    months. Development phasing matched with supply-demand dynamics at the master planning stage and

    inclusion of facilities closely tied to end-user and tourist visitor needs are key elements in determining the success

    of these integrated communities.

    Source: Khaleej Times

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  • DUBAI | ABU DHABI | AL AIN | SHARJAH | JORDAN | KSA

    © Asteco Property Management, 2018 asteco.com

    DEFINING LANDSCAPES SINCE 1985

    Page 6

    ASSET MANAGEMENT SALES LEASI