NEWS BRIEF 17 - Asteco Property Management real estate news uae/ gcc premium property can lift uae...

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Transcript of NEWS BRIEF 17 - Asteco Property Management real estate news uae/ gcc premium property can lift uae...

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

    © Asteco Property Management, 2017 asteco.com | asteco.com/report_library IN THE MIDDLE EAST FOR OVER 30 YEARS

    ASSET MANAGEMENT SALES LEASING

    VALUATION & ADVISORY SALES MANAGEMENT OWNER ASSOCIATION

    RESEARCH DEPARTMENT

    NEWS BRIEF 17 MONDAY, 24 APRIL 2017

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

    © Asteco Property Management, 2017 asteco.com | asteco.com/report_library IN THE MIDDLE EAST FOR 30 YEARS

    Page 2

    ASSET MANAGEMENT SALES LEASING

    VALUATION & ADVISORY SALES MANAGEMENT OWNER ASSOCIATION

    REAL ESTATE NEWS UAE/ GCC

    PREMIUM PROPERTY CAN LIFT UAE AND SAUDI ECONOMIES, EXECUTIVES SAY

    REITS OFFER EFFICIENT WAY TO OWN UAE PROPERTIES WITHOUT THE HASSLE

    MANAZEL MAKES FURTHER CUTS TO PLANNED JORDAN DEVELOPMENT

    IMF SHARPLY CUTS MIDEAST OIL EXPORTERS’ ECONOMIC GROWTH FORECASTS

    MARKET ANALYSIS: IN TIME, NEW BANKRUPTCY LAW WILL BENEFIT UAE CAPITAL

    MARKETS

    ISLAMIC HOME FINANCE GOES MAINSTREAM

    ATKINS BOARD AGREES TO £2.1BN TAKEOVER APPROACH FROM CANADA’S SNC

    LAVALIN

    GOVERNMENTS OF GULF COUNTRIES INCREASINGLY FOCUSING ON

    DEVELOPMENT OF TOURISM SECTOR

    CHINESE INVESTORS LAUNCH OMAN INDUSTRIAL PROJECT

    DUBAI

    MORE VISITORS AT DUBAI WORLD TRADE CENTRE

    EMAAR PROPERTIES DECLARES 15% CASH DIVIDEND OF DH1.074BN FOR

    SHAREHOLDERS

    IS YOUR SALARY ENOUGH TO AFFORD DUBAI RENTS?

    SOUTHERN AFRICAN FUND PICKS EXPOSURE IN DUBAI REALTY

    DUBAI PROPERTY Q1 GAINS LED BY HIGHER VALUE DEALS

    AHEAD OF ATM, FOCUS IS ON THREE-STARS AND EXPERIENCES

    WHAT IS THE INTERIM PROPERTY REGISTER?

    IS THE MOST EXPENSIVE PROPERTY THE MOST UNDERPERFORMING?

    FROM THE SEA TO THE DESERT: NEW COMMUNITIES IN DUBAI

    SUSTAINABLE CITY RATED DUBAI’S ‘HAPPIEST’ COMMUNITY

    NAKHEEL BREAKS GROUND ON DH176M HOTEL

    DAMAC TO BUILD 2,000-ROOM HOTEL OVERLOOKING AKOYA OXYGEN GOLF

    COURSE

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

    © Asteco Property Management, 2017 asteco.com | asteco.com/report_library

    IN THE MIDDLE EAST FOR OVER 30

    YEARS Page 3

    ASSET MANAGEMENT SALES LEASING

    VALUATION & ADVISORY SALES MANAGEMENT OWNER ASSOCIATION

    REAL ESTATE NEWS DUBAI’S PUSH FOR TRANSPARENT REAL ESTATE ARBITRATION

    ITHRA DUBAI TO DEVELOP COMMUNITIES FOR ENRICHMENT OF SOCIETY

    DUBAI TOURISM BRIEFS HOTEL INDUSTRY ON CITY’S LATEST DEVELOPMENTS

    ABU DHABI

    MALL TO BE CENTREPIECE OF ZAYED SPORTS CITY PROJECT

    ABU DHABI’S KHIDMAH TO MORE THAN DOUBLE LIFEGUARDS

    ABU DHABI’S TDIC MULLS IDEA OF AFFORDABLE HOUSING FOR SAADIYAT ISLAND

    ALDAR MAINTAINS ITS AIM AT ABU DHABI MID-MARKET PROPERTY

    ESHRAQ AND MUBADALA TEAM UP FOR ABU DHABI PLOT DEVELOPMENTS

    ABU DHABI RESIDENTIAL SALE PRICES DROP IN THE FIRST QUARTER

    DH3.23 MILLION ALLOCATED FOR DEVELOPMENT OF COMMUNITY FACILITIES IN

    ABU DHABI

    SEVEN PUBLIC MARKETS FOR ABU DHABI SUBURBS

    ALDAR LAUNCHES MID-MARKET RESIDENTIAL UNITS 'THE BRIDGES' ON REEM

    ISLAND

    NEW COMMUNITY FACILITIES TO ENHANCE LIVING STANDARDS IN AL DHAFRA

    TIME TO INVEST IN ABU DHABI

    MUBADALA REAL ESTATE UNVEILS ARZANAH PROJECT IN ABU DHABI

    TDIC SAYS PROJECTS ON TRACK WITH CONSTRUCTION IN FULL SWING

    TOP DEVELOPERS AMONG 100+ EXHIBITORS AT CITYSCAPE ABU DHABI

    ABU DHABI PROPERTY AT A GLANCE

    IN ABU DHABI, NEW APARTMENTS OFFER THE BEST DEALS

    IMKAN STARTS THE ARTERY AT MAKERS’ DISTRICT ON REEM ISLAND

    ABU DHABI MUNICIPALITY SIGNS DEALS WITH DEVELOPERS FOR FOUR

    COMMUNITY MALLS

    PROGRESS MADE ON ZAYED CITY DEVELOPMENT IN ABU DHABI

    SAADIYAT ISLAND RESORT DEAL AWARDED TO HILL INTERNATIONAL

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

    © Asteco Property Management, 2017 asteco.com | asteco.com/report_library

    IN THE MIDDLE EAST FOR OVER 30

    YEARS Page 4

    ASSET MANAGEMENT SALES LEASING

    VALUATION & ADVISORY SALES MANAGEMENT OWNER ASSOCIATION

    REAL ESTATE NEWS

    NORTHERN EMIRATES

    RAK TO CONSOLIDATE FREE ZONES

    MINISTRY OF INFRASTRUCTURE DEVELOPMENT TO IMPLEMENT THREE PROJECTS

    WORTH DH171M

    EXPO CENTRE SHARJAH DISCUSSES COOPERATION WITH ISLAMIC CENTRE FOR

    DEVELOPMENT OF TRADE

    RAS AL KHAIMAH SEES GROWTH IN INTERNATIONAL ARRIVALS IN FIRST QUARTER

    INTERNATIONAL

    CHINESE PROPERTY STOCKS GO BACK IN OVERHEATED MODE

    BARCLAY BROTHERS BID FOR GROSVENOR HOUSE HOTEL: TIMES

    LUXURY LONDON HOME PRICES STAGNATE AS TOP-END AREAS DECLINE

    ROBUST DEMAND FOR CHINESE PROPERTY AS MORTGAGE LOANS JUMP IN FIRST

    QUARTER

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

    © Asteco Property Management, 2017 asteco.com | asteco.com/report_library

    IN THE MIDDLE EAST FOR OVER 30

    YEARS Page 5

    ASSET MANAGEMENT SALES LEASING

    VALUATION & ADVISORY SALES MANAGEMENT OWNER ASSOCIATION

    MALL TO BE CENTREPIECE OF ZAYED

    SPORTS CITY PROJECT Wednesday, April 19, 2017

    Mubadala Real Estate will look to begin talks with mall operators and investors interested in bringing forward a

    new 316,918 square metre mall next to the 43,000-capacity Zayed Sports City stadium by the end of this year.

    The mall will form the centrepiece of the revamped Arzanah development unveiled by Mubadala Real Estate at

    Cityscape Abu Dhabi on Tuesday. It will comprise more than 1.9 million sq m of built-up space around the existing

    football and tennis stadiums that will eventually be home to more than 30,000 people.

    Ali Eid AlMheiri, the executive director of Mubadala Real Estate, said the master plan unveiled was a "concept of

    how we believe the site could be developed in the future", but is based around promoting an active lifestyle for

    families.

    Residential buildings, for instance, could feature rooftop tennis courts and pools and there will be football pitches

    spread across the site. Mubadala Real Estate will be the site’s master developer and will service the plots, which it

    then plans to offer to third-party developers.

    The new mall will be the first element to be brought forward.

    "Once the concept is approved by all of the authorities then we will be marketing the plot to well-known mall

    operators/investors – the usual players in the UAE. We’ll get into discussions with them, see who’s interested in

    buying it and on the best commercial terms," said Mr AlMheiri.

    "We’re probably looking at some time towards the year- end. After that, once you reach the commercial

    agreement with them, then the clock ticks."

    He said potential investors and developers would largely decide on what went in the new mall (where a connected

    hotel is also proposed), but added that it is expecting the mall operator will incorporate an ice rink and bowling

    alley to replace existing facilities on site that will make way for the Arzanah project.

    The bulk of the remaining site will be made up of residential plots, although there is space for a couple of office

    buildings. However, Mr AlMheiri said Mubadala was conscious of current market conditions and would not "flood

    the market" with new plots.

    "We will be servicing the plots and selling to third parties to do those developments. And the third party will not

    come to do the plot unless the market is there to develop. So we are both aligned."

    He argued that there would be more interest in the mall, however, despite several major new mall projects now

    under way in Abu Dhabi, because most of these are on the eastern side of the island, while this is on the west.

    Arzanah was initially launched as a joint venture between Mubadala and Singapore-based Capitala in 2008 as a

    1.4 million sq feet scheme containing a five-tower development with 854 apartments known as Rihan Heights on

    one corner. Mubadala ended up buying several of the buildings itself.

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

    © Asteco Property Management, 2017 asteco.com | asteco.com/report_library

    IN THE MIDDLE EAST FOR OVER 30

    YEARS Page 6

    ASSET MANAGEMENT SALES LEASING

    VALUATION & ADVISORY SALES MANAGEMENT OWNER ASSOCIATION

    Mr AlMheiri said that Capitala would continue to oversee the Rihan Heights project but that Mubadala "will act as

    the master developer and will be responsible for developing the necessary infrastructure of the multi-phase

    master plan".

    Source: The National

    Back to Index

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

    © Asteco Property Management, 2017 asteco.com | asteco.com/report_library

    IN THE MIDDLE EAST FOR OVER 30

    YEARS Page 7

    ASSET MANAGEMENT SALES LEASING

    VALUATION & ADVISORY SALES MANAGEMENT OWNER ASSOCIATION

    ABU DHABI’S KHIDMAH TO MORE THAN

    DOUBLE LIFEGUARDS Wednesday, April 19, 2017

    The Abu Dhab-based