Premier Inn to open hotel in Dubai

Premier Inn, the UK’s largest and most successful hotel brand with over 500 hotels, containing 36,000 rooms, has announced the opening of their first hotel in Dubai. This new hotel marks the beginning of a strategic partnership with The Emirates Group to develop the Premier Inn brand within the Gulf region. Premier Inn will introduce their high standard, “value” hotel model into the Dubai hospitality market with plans for at least a further 5 sites to be opened in the UAE in 2009.

Darroch Crawford, Managing Director of Premier Inn Middle East said, “What differentiates Premier Inn from the competition is our “value” hotel model, of bringing a 4 star product to the market at a 2 star price. In a Premier Inn this is achieved through streamlining the product to benefit our customers, delivering consistently outstanding service and investing heavily in the property and in staff training. We don’t have a concierge or valet parking, but if for example a customer needs assistance with their luggage then our people will always help. At Premier Inn we understand that our customers want the best value but will not compromise on quality.”

The Premier Inn Hotel is located in Dubai Investments Park next to the Green Community, the hotel features 308 modern and stylish air conditioned rooms. The hotel opens on 30th March 2008.

Cinnovation Group buys The World’s Nova Island

The Singapore-based firm Cinnovation Group announced that it has purchased the Nova Island, part of The World. Cinnovation Group intends to build a $200 million resort and spa on the development. Varun Chaudhary, director of Cinnovation’s Dubai operations, said on Monday that the project will be a private luxury retreat, offering both tourist and residential facilities. He did not reveal the island’s purchase price.

Islands on The World, located four kilometres offshore from Dubai, are being offered for sale on a freehold basis to selected investors, and are only accessible by marine or air transport. The average price for an island ranges from $15 million to $50 million, but the total cost of developing an island is much higher as owners are expected to provide all necessary infrastructure. The most expensive island costs $263 million. Around 50% is sold at this moment.

Cinnovation Group already own resorts in Maldives, Sri Lanka and Malaysia, including its flagship Maldives property Taj Exotica Resort & Spa.

Mulberry Mansions townhouse project sold out

Al Fara’a Properties, the flagship subsidiary of the Al Fara’a Construction & Industrial Group, has announced that its AED 95 million ‘Mulberry Mansions’ project in Jumeirah Village has been completely sold out. The outstanding sales performance of the project reflects well on the developer’s expectations for 2008, and is part of an aggressive expansion plan, which had been rolled out to leverage the increasing demand for luxurious developments in the region. With aims of further reinforcing its presence in the international real estate market, the developer is currently showcasing its project portfolio at the International Property Show 2008, being held at the Dubai International Exhibition Centre (DIEC) from February 17- 19, 2008.

The overwhelming reception for the ‘Mulberry Mansions’ project has been reflected by the complete sell out of all of the units, with the first phase and second phase of the project achieving a sold out status within only 6 hours and 2 hours after the respective launches. Impressed with the project’s convenience, luxury and high quality, investors have also recognised the tremendous investment opportunity within the project, which is set to provide easy access to the Dubai Metro Station and to the most important business and leisure districts upon its completion in the third quarter of 2009. Residents of the 23 exclusive town houses, which comprise the entire project, are set to enjoy the benefits of living in close proximity to top notch medical facilities, educational institutions, shopping malls and movie theatres, beaches and parks.

“As we steadily build a strong reputation across the region through our unique themed residential developments, we have high expectations that we will achieve, if not surpass our sales objective of AED 6.5 billion for 2008,” said Navaid Chaudri, CEO, Al Fara’a Properties. “Our themed developments have caught the attention of both local and international clients due to the distinctive features, which address the increasingly discerning taste of today’s investors. The breakneck speed at which we have managed to completely sell out the ‘Mulberry Mansions’ project stands as a testament of the distinct impression, which we have imbued to our clients - that of high value and quality investment opportunities.” 

Each luxurious Victorian-styled two-storey townhouse will include four bedrooms, a private two-car garage, a terrace, a balcony, maid’s room with separate access, and a private garden, which mirrors the elegance of Dubai’s most sought after address at the heart of Jumeirah Village. The spacious and comfortable interiors also incorporate custom-built walk-in closets, fully-equipped kitchens and well planned master bedrooms accented by distinct lighting designs. Weaving luxury into everyday living, all carefully planned units will also boast of a remarkable view of the boulevard and a skylight to bring natural brightness and ventilation. Selected townhouses at the far sides of each row of the plot will be incorporated with elegant private swimming pools within private side gardens. 

“Our expertise in delivering luxurious residential developments, which perfectly match the distinct preferences of global customers is being recognised throughout the region, and the launch of the ‘Mulberry Mansions’ is another testimony to this remarkable repute. In addition to embarking in high profile projects, we are also participating in the International Property Show 2008 and other international property exhibitions worldwide with aims of further expanding our regional and international investor base, and reaching promising and untapped markets,” said Natasha Gangaramani, Director, Al Fara’a Properties.

94th floor Burj Dubai sold for $12 million

Having reached 158 floors and still growing, the world’s tallest skyscraper, Burj Dubai has sold 11000 sq ft of office space on the 94th floor to a European buyer for a whopping 12 million dollars in an online deal.

Eqarat.com, the Dubai-based real estate sales agent, today said it has sold the ”highest office floor in the world” to a European investor.

”Purchasing property in Dubai has become a simplified process; however intense competition among property developers and high profile investors who are always on the lookout for the most profitable developments in this rapidly developing emirate, has presented customers with difficulties in acquiring their ideal properties,” claimed Ali Al Rahma, CEO of the online portal, according the Gulf News.

Eqarat.com did not reveal the investor, but described the deal as a “successful acquisition of the most coveted commercial real-estate property within the globally renowned landmark”. Burj Dubai is the centrepiece project in Emaar’s 500-acre Downtown Burj Dubai development.

Eos announces new route between London and Dubai

Eos, the “Uncrowded, Uncompromising” choice for travel between New York and London today announced that it is expanding its schedule and route network with daily service between London’s Stansted Airport and Dubai International Airport starting on July 6, 2008. Eos will begin issuing tickets for travel between London and Dubai in March.

With Stansted’s easy access to London’s financial district, the City, and industry leading on-time operations, Eos’ new service will be, after Silverjet who launched their route last November, a new option between Dubai and London for business travelers.

“Our community includes many guests and investors from the Gulf region who feel that Dubai and Eos are a perfect fit. UAE consumers appreciate products and services of the highest quality and we’ve created a travel experience that authentically reflects their lifestyle, an extension of the way they want to live while flying,” said Jack Williams, Eos’ President & CEO. “In addition, our corporate and leisure travelers based in New Jersey have told us they are eagerly anticipating our route between Newark and London Stansted.”

Eos, which flies the world’s only fleet of 757s configured for just 48 Guests, launched its first service in October 2005 and today carries one out of every nine business class passengers between New York’s JFK airport and London on one of its 44 weekly flights. This growth has been largely attributed to the “Eos Class”. The Eos Class experience includes fast track check-in and security and 6’6” fully-horizontal flat-bed suites.

Dubai real estate boom

According to ArabianBusiness.com, Dubai’s real estate is now the second most expensive in the world, after the West End of London. Prices are still climbing but the expentional growth rates have slowed in some areas. Unique properties like the Burj Dubai are still seeing double digit annual growth, but overal prices have slowed their pace.

This in contrast with the statement of HC Securities Brokerage. “Accelerating growth rates have equipped expatriates with the means to rent houses at high rates, and the situation is least likely to be resolved in 2008 as the market is expected to be in short supply of housing units.”

Al Burj’s construction has now begun

The construction of Al Burj has begun, says ArabianBusiness.com. Dubai-based developer Nakheel remains tight-lipped about details of its rival to the Burj Dubai, refusing to reveal the building’s final height, when it will be finished or even its name. The commonly name is now Al Burj or The Tall Tower and the tower’s height is expected to be over 1,000 metres, containing 228 floors. With such a height, Al Burj would easily overtake Emaar Properties’ Burj Dubai as the world’s tallest. The Burj Dubai is expected to be around 900 metres upon completion at the end of this year, although the final height remains a closely guarded secret.

The Al Burj project has been under development for some time, first announced back in 2006. The tower was initially planned to form part of the Dubai Waterfront development, but the location was moved to between Jumeirah Lake Towers and Ibn Battuta Mall on Sheikh Zayed Road.

Dubai Properties Unveils Robust 2008 Roadmap

Real Estate Master Developer Dubai Properties announced today it will launch and handover approximately 5,000 commercial, residential, and retail units from across its diverse portfolio of projects during 2008. 

In addition, Dubai Properties will be opening 100 outlets at The Walk at Jumeirah Beach Residence by April 2008. Some of the initial outlets to will include renowned brands such as Starbucks, Subway, Mothercare, Verri, Fat Face, Butlers, Boots, Damas, Jumbo Electronic, Al Rasasi, Giordano, Tips & Toes, and Bata. Over 300 additional outlets are scheduled to be open by the end of June.

Mohamed Binbrek, Chief Executive Officer, said: “Apart from developing unique communities, Dubai Properties is committed to ensuring the timely release of its completed units. Following the enormous success of 2007, we are looking forward to a year of massive business expansion and project handovers.

“The handover of residential and commercial units, as well as the launch of new projects, will significantly meet the emirate’s escalating demand. We are delighted investors and end users find high value in the upscale amenities and world class services we consistently deliver across our projects.”

Referring to the leasing projects handled by Dubai Properties, Mr. Binbrek added: “Meanwhile DP is leasing 2568 out of the 2611 units available at different areas in Dubai including JBR, Cordoba Villas, Dubai HealthCare City, Al Qouz Community Housing and DP staff accommodation.

The year 2008 will witness another milestone for DP in adding 5028 flats and villas to its leasing portfolio in Mirdiff areas, additional units in Executive Towers, the Office Park Building and Al Qouz Community Housing. This will bring the total number of units available for leasing at Dubai Properties to 7600 units, added Mr. Binbrek.

In 2007, the Jumeirah Beach Residence became the first freehold Dubai Properties’ project to be completed, when approximately 6,500 apartments across 36 residential towers were handed over. More than 2,000 families have moved into the apartments since then.

The successful JBR handover was followed by the end-of-year announcement of Mudon, the unique AED 40 billion community that is being developed in the heart of Dubailand on 73 million square feet. Due for completion in 2012, the project is currently the largest development by Dubai Properties to date. It will incorporate five historic cities – Baghdad, Beirut, Damascus, Cairo, and Marrakech – within one large integrated metropolis.

Dubai Properties’ diverse portfolio represents the highest quality of real estate in the region. Mixed-use master developments such as Business Bay and Mudon have been recognized globally for their ambitious charter and unique characteristics. The distinctive retail portfolio is supported by residential developments that meet the need of Dubai’s growing economy and resident population.

Burj Dubai update

Today, Emaar Properties PJSC realeased a construction update about the Burj Dubai, the centrepiece of their flagship project, the AED 73 billion (US$20 billion) Downtown Burj Dubai. The Burj Dubai’s height is now 604,9m and construction is taken place at level 159. With that height, the Burj Dubai is taller than Taipei 101 (508 metres) in Taiwan and CN Tower (553.33 metres) in Toronto, Canada.

More than 5,000 consultants and skilled professional workers are employed on-site at the tower. However, there has been points of interrogation in the past about living standards of Dubai’s loanworkers. Journalists declared that construction workers work long days with no day of rest, earning meager wages (Dubai doesn’t have a minimum wage system) that may be withheld or unpaid altogether.

Dredging company Van Oord completes The World

Dredging and marine contractor Van Oord has completed the prestigious land reclamation project The World in the emirate of Dubai. The World is a group of 300 artificial islands four km off the coast of Dubai that have been shaped in the form of the continents. The project covers a surface area of 9 x 7 km and was completed in the record time of little more than four years. The islands can now provide the setting for hotels, apartments and villas. This is the next immense project, visible from space.

Project execution commenced in October 2003. Fifteen trailing suction hopper dredgers have reclaimed a total of 320 million m3 of sand from the sea to form the islands. For comparison purposes: that is the equivalent of a 2 m wide, 4 m high Chinese Wall that stretches around the world. In addition, 34 million tonnes of stone have been used to construct the longest breakwater in the world, a 27 km long structure protecting the islands from the sea. That is four times the amount of stone used to build the Oosterscheldt storm surge barrier.

For a number of years Van Oord will continue to be closely involved in the remainder of this project. According to Hamza Mustaffa, the managing director of Nakheel, Van Oord‘s client, ‘We intend to continue our successful collaboration in the years ahead.’ Van Oord’s work will include compacting the subsoil and building quay walls.

Van Oord is working on several marine construction projects in Dubai. Following the first palm island, the much-discussed Palm Jumeirah, The World was the next extraordinary land reclamation project that Van Oord completed in Dubai. Palm Deira, a colossal islands project ten times the size of Palm Jumeirah, is still under construction and will be completed in 2014-2015.

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