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Dubai Properties ? the best investment
Are you aware of the fact that the real estate market in Dubai has really hit the skies with foreign investors? The reason is that all the investment gurus are lining to invest hundreds of millions of dollars in the city, thanks to the gorgeous buildings been erected. All of us are aware of the Burj Khalifa?
Slow handovers said to weigh down Emaar
Blame it on the Burj. The slow delivery of homes in Dubai’s Burj Khalifa, the tallest tower in the world, was the main drag on Emaar Properties’s profits for the second quarter. The Dubai developer’s share price fell 3.56 per cent yesterday to Dh3.25 as investors responded to news that its net profit for the quarter came in at Dh802 million, as opposed to the Dh958m forecast by analysts.
How low can our rent go?
Dubai rents have plunged over the last year and property experts predict they are set to fall even further, causing an influx of people keen to move to the emirate. Studios in International City can now be snapped up for as little as dhs22,000 a year down from dhs60,000 18 months ago. At the other end of the market, a studio in the world’s tallest building, Burj Khalifa, costs just dhs100,000 with one-bedroom apartments in the prestigious address starting at around dhs160,000 a year.
Emaar Properties records 122% growth in half-year
The highlight of second quarter 2010 was the opening of the world’s first Armani Hotel in Burj Khalifa, the world’s tallest building. In addition, the handover of units in Burj Khalifa started during the quarter with approximately 24% handed over until June end. In the process of implementing the strategy of concentrating on its core business, Emaar transferred the Hamptons International business in the UK, Europe and Asia to Countrywide at a consideration, which was similar to the purchase value of the business (in Sterling terms) it acquired in 2006.
Outlook brightens for Dubai
Dubai’s economy passed important milestones yesterday as the Dubai World conglomerate presented its final debt restructuring plan to bankers while the emirate’s largest developer posted a big rise in quarterly profits. After more than a year of subdued property sales, Emaar Properties posted a net profit of Dh802 million (US$218.3m) for the second quarter after a loss of Dh1.2 billion in the same period last year. Profits also rose 6 per cent from the first quarter this year as homes were delivered in Burj Khalifa, the tallest tower in the world.
Emaar diversification turns Q2 profits
Emaar Properties, the developer behind the Burj Khalifa, the world’s tallest building, reported second quarter sales of AED 2.6 billion (US$ 722 million), up +37% on the AED 1.9 billion (US$ 528 million) recorded for the same period last year. Pre-tax profits for the quarter rose to AED 896 million (US$ 244 million) up from AED 390000 (US$ 106000) 12 months ago.
Architecture prizes to the old and the new
The Chicago-based architecture firm Skidmore, Owings and Merrill was recognised for its work on the Burj Khalifa, which was opened this year. The world’s tallest building, it stands 828 metres high. Construction on the skyscraper started in 2004 and was completed in October 2009.
DM concludes 5th Environmental Education Course for staff children
Al Shaer praised the efforts of the corporate sponsors and their support for the course that have effectively contributed to its success and effectiveness, and these supporters included Burj Khalifa, Dubai Aquarium, Kidzania, Knowledge and Human Development Authority, Roads and Transport Authority, and Modern Bakery
Investing in realty for the long-term
It was billed to be the ‘Burj Effect.’ Today, some 180 days after the opening of Burj Khalifa, the world’s tallest building, there is a renewed sense of optimism that commercial establishments lining Sheikh Zayed Road in Dubai are poised for a revival of fortunes.
‘Transparency’ is Hot Topic at Dubai Real Estate Industry Function
The Burj Khalifa, which Oates used as an example, will have many owners of apartments, office suites, and the Armani Hotel and Armani Residences. How can they manage to agree on the level of service to be maintained?
