Expats Prefer Sharing Apartments in Dubai

The city of Dubai can be called as unique in many regards but the thing that makes it stand out among all the cities is that the expat population in Dubai is far more than its local population. According to the estimates 83% of its total resident population is from other parts of the world and the biggest community is from India. The Pakistanis come second and not far behind are the Bengalis and Sri Lankans. All these people come here to find jobs and that is why apartments for rent in Dubai are always in demand. The expat population is increasing day-by-day and the demand is also directly proportional to this influx of people.

One of the major issues that the expats in the city normally have is that they live without families here. Their families live in the home countries and the reason behind that is that the city is quite expensive and keeping the family along with them is an expensive thing to do. With families back home, they can earn enough for themselves and because of fewer expenses in the home countries that are normally the South Asian countries, the families can live with a respectable standard of life. On the other hand the person living in Dubai city gets more time for work as he does not have to look after the family and thus can earn more.

According to the experts at Bayut.com, the expatriates who live here in Dubai are better off sharing their apartments with friends or colleagues. The reason for that is quite simple. It is extremely difficult to manage the home without a partner while the colleagues normally have same issues and same interests, so they can develop a better understanding with each other. At the same time, by sharing rooms, they share the rent as well which can be quite expensive while living alone. The Dubai rent section is widely used by the users which shows the trend in the market as well.

Auction at DLD couldn’t get any bidders for Dubai Marina apartment

An apartment was sold in an auction at the Dubai Land Department (DLD) by the owner and the news have it that it was sold at quite a handsome price by the sellers. The auction took place on Wednesday.

The Downtown Dubai apartment, located in Reehan 1 was sold for AED 1.39 million and covers an area of 76.74 sq. m. AED 700,000 was set as the base price but the auction went high enough that the owner went home with heavy pockets.

In other auctions one signature villa was sold from The Palm Jumeirah Islands and it was worth AED 21.1 million while the agents quote the prices of villas of similar kind at around 25 million. One apartment was sold in Jumeirah Beach Residence at a price of AED 1.54 million while an apartment in Al Dhafrah, Tannyah, Third was sold for AED 1.12 million and this one covered an area of 101.7 square meters.

Unfortunately a 192.88 square meter apartment from Dubai Marina did not get any bidders. The apartment is located in The Zen tower and the base price was set to be AED 1.76 million but couldn’t attract the bidders’ attention. Sources told Bayut that the DLD is planning to hold the final auction of this year on the 26^th of December.

UAE – A Place that Offers Great Recreation

United Arab Emirates is the center of attention throughout the world and not just for its business activities but the tourists’ charms as well. Normally, when one who has never visited the UAE thinks of this country imagines only the mesmerizing structures that this country has. But it is not about the buildings and the structures and in fact it is about the people who live here and live here because of the love that they have for this country for everything that this country has given them. No doubt, any country is made by the people that it has and certainly one of the biggest advantages that this country has is that the people living in it are prosperous and happy.

This has been possible only because the country has vast resources that it lends out to the general public and they have made full out of it. The employees in the UAE make quite well an earning for themselves and even the expatriates who come here for the sake of jobs and earnings are very loyal to the country. The country gives them a lot to cheer about besides the excellent living conditions and one such example is of the festivals that the most famous city of the UAE i.e. Dubai holds throughout the year. Scores of festivals are held in the city including the celebrated Spring Shopping Festival that is held every year during the months of March and April.

Businessmen from all parts of the world come to the UAE for taking part in these festivals as shopping-lovers from all over the world come here and love doing shopping in this fantastic environment. The football and other sports events are also regularly held in the country and for the past few years, as the security conditions in the brotherly country of Pakistan are not up to the mark Pakistan has hosted several of its home Cricket series in the UAE. This has not only allowed Pakistan Cricket to grow and survive during these tough times at home but also has helped the UAE as well as such events definitely generate revenue for the country. All these attractions jell in together to make the UAE one of the most charming places on Earth and it certainly has charmed hundreds of thousands of people to its land over the years.

Dubai Marina Allures the Investors and Tourists

People love luxury and if that is true, they have to visit one of the most exciting places in the world that is Dubai. Dubai has certainly some of the best places in it that can fulfill the need for luxury and certainly Dubai Marina Apartments are an example of such magnificent structures that this place has. It is undoubtedly one of those places that simply can’t be overlooked because of the mesmerizing looks and extra-ordinary amenities that it offers to those who come here for living or for the sake of visiting this magical Dubai City. It can safely be said that there can hardly be a place on the planet that can match the quality of Dubai Marina.

Dubai Marina has been developed in a special structure where the sea has been artificially given a way to enter the society with an artificial bay and this makes the society a wonderful place to live in. The bridges and the lakes in Dubai Marina make the visitor to look at it with wide-open eyes as the spectacular beauty of the place can surprise anyone. The roads and the bridges have been carved in a way that all the buildings have marina view and this allows the property prices all over Dubai Marina to be stable and almost uniform. The towers that have been built in this city bring in more investors and businessmen as the businessmen love luxury living and Dubai Marina provides them exactly with that.

The hotels and restaurants in the society attract scores of people from all parts of the city because dining is absolutely fun here while the shopping malls and beaches allow the fun-lovers to have a great time in Dubai Marina. At the same time, there are commercial properties for the offices and studios which allure the business community to move to this place as residents as well because an excellent commercial property close to their home in a mesmerizing locality is something that anybody would dream of. No doubt, there are other fabulous property projects in Dubai real estate but Dubai Marina is surely the crown of this stunning city.

Emaar and Dubai Holdings to build Mohammed Bin Rashid City

Dubai still has the capacity to fund all the projects that have been announced and does not need to look for foreign investors for the funding of these projects. It was revealed by the Dubai Economic Council’s head who went on to say that by funding the projects itself, Dubai gets rid of the need to find foreign investors to fund its projects.

Hain Al Hamli who is the Secretary General of Dubai Economic Council (DEC) said that despite there were a few projects that were force closed during the recession after 2008, Dubai can easily access funds to develop these new projects that have been announced.

Mohammed Bin Rashid City which was announced last week by Sheikh Mohammed bin Rashid Al Maktoum who told that there would be a theme park for Universal Studios, a complex that will be having a hundred hotels and will also make the world’s biggest shopping mall till date in it. He told that the mega project will be held by Dubai Holding and Emaar Properties.

A plan to develop a complex of theme parks worth AED 10 billion was also revealed by Al Hamli and told that Dubai will find resources to finance this project though he did not reveal where the funds will come from.  He also said that Dubai has neighbors that are very rich in natural resources and Dubai too, is a part of the United Arab Emirates.

Dubai had to get a bailout from Abu Dhabi of 10 billion US dollars in 2008 as well when the property prices suddenly fell down due to the international recession and it had to close several projects as well due to lack of funds. But one of the officials in Abu Dhabi government told that a few companies in Abu Dhabi will be a part of this magnanimous development.

Al Hamli was quite clear about the practicability of the project and he also said that Emaar Properties and Dubai Holdings do have a clear agenda when they announce something. And there should not be any issues regarding the project financing at good interest rates as the companies are related to the government.

UAE and its Fantastic Amenities Allure the Expatriates

United Arab Emirates is a place that offers business to all and the best part about this city is that despite scores of ethnicities living in it, the state’s environment has been very serene and the only reason behind that is the law and order of the state. Credit must be given to the administration of the state for being very clear about the justice system of the city that is quick and also for everyone. There is no doubt that the state is working hard on this and the real estate sector is also quite efficient in this regard as they are extremely careful about this highly sensitive issues that is the protection of life and wealth of the people living here. Almost every society has special systems for security purposes while the state machinery also helps all of them.

It is also important to note that the state has been very caring regarding its residents and though it has had some border disputes with neighboring countries yet it never went for an all out conflict and resorted to diplomatic means for this sake. Even at that level, it had to give away a bit of its land but keeping the welfare of the public in focus, UAE administration has avoided all sorts of conflicts with the neighboring states and as a result it enjoys cordial relations with all the neighboring countries that include Kingdom of Saudi Arabia, Oman and Iran. Though the UAE does not share border with Iran but they are separated by a very narrow stream of the Persian Gulf and thus they can be called as neighbors.

The excellent conditions for promotion and expansion of business in this country and extensive job opportunities are main requirements for the welfare of the public in any country and certainly the United Arab Emirates has been one such place for the past few decades. There are scores of expats living in this country and according to some estimates more than 80% of the population of the state of Dubai is based on foreigners and it shows how attractive this place is for the world. It gives tremendous amount of opportunities and at the same time offers the best of amenities that are there in the world making this country one of the most advanced, progressive and peaceful countries among the comity of nations around the globe.

Residents of Al Barsha have Several Advantages

Dubai is full of extravagant property projects and some of them are so attractive that there is hardly any place on Earth that can be able to match their quality. It is quite amusing to see so many outstanding architectural master-pieces in one city and Dubai certainly is a place that astonishes any new comer. And at the same time, in the same city there are so many business and tourism opportunities that have allured hundreds of thousands of expats to this city. All these qualities jell in together to make this city one of the most charming places in the world and property projects like Al Barsha just are a crunchy little flavor in this mouth-watering dessert.

Al Barsha has long been here in this city but there are hardly any places in the city that are so calm and cool and because there is quite a calm environment due to low population in the community, people are really showing interest in this place nowadays. It is a perfect place for the expats as well because they normally live here as employees and work at various factories, banks and companies while some of them also do small businesses here. They cannot afford the luxurious villas in Dubai so they prefer living in such places where they can have an easy access to the main business centers of the city in a short time but at affordable rates.

Al Barsha is one property project that fulfills their needs in this regard because it is located exactly at a place that is ideal for these expats. It is located near Palm Jumeirah which certainly is one of the biggest attractions of Dubai real estate while being connected to the Sheikh Zayed Road, gives this society an extra advantage as well because most of the iconic property projects of the Dubai real estate are situated on this very road and the residents of Al Barsha really have an additional facility for being close to this road and thus having all the important places of the city in easy access.

Dubai Real Estate Reaffirming Investors’ Belief

The world has faced a deadly economic blow very recently and now is going through a process of recovery. There have been scores of outstanding performers in the global market that have suffered from this massive cut in the spending and capital investment trends. Most of them are still unable to cope with the issue as we all know the situation that the Eurozone is going through and the problems that the major partners of European Union are facing due to its crisis. This recession though has ended and the economies of the countries have also begun to loosen up with time but as the public is not yet ready to believe in the market, they still appear to be cautious in their approach.

Same was the case with Dubai real estate which was one of the major gainers from the boom of 2005-06 and also had to face the same situation as the world had to face in the second half of 2008. A number of projects were hindered by this recession and property big wigs of the state were left with no serious projects at hands. Developers like Nakheel were also damaged big time and they were unable to pay their dues back to the investors and the sheer cuts that they had to make on the expenditures, left them with no room for expansion. Same was the case with the rest of the developers and it won’t be incorrect to say that there was a dearth of new projects and investments in the city.

However, the market began to show positive trend in the second quarter of the year 2011 and it has continued to show improvement ever since. The recent upsurge has been mainly confined to the posh areas of the city and the main beneficiaries of it have been property projects like Dubai Marina and Arabian Ranches type of property markets because the investors see better prospects of getting favorable returns from these areas. According to the latest survey as well, Dubai properties are considered to be among the top five in the world and certainly as the global situation improves, the investors’ belief in Dubai property will also be directly proportional to it.

Nakheel Awards RSP with the Palm Mall Tender

Palm Mall is the new construction project that Nakheel has taken up this October and has awarded the tended as well. This mall is going to be made exclusively for the residents of The Palm Jumeirah and will also be constructed in The Palm Jumeirah Islands. Nakheel has awarded the tender to RSP and the contract was settled in 6.8 million US dollars while the RSP has expressed gratitude after winning the tender.

Nakheel has been going through tough times for the last couple of years and has been loaded with debts, though the situation has begun to improve since the latter half of the previous year. Nakheel is also going through some legal matters over The Palm Jumeirah properties as it was sued by the residents in some cases while in other cases Nakheel had filed cases against the agents. The process is not over yet but things have started to go Nakheel’s way now because most of the arbitration with the property owners has been completed.

Now this latest project in The Palm Jumeirah depicts that the company is now regaining the momentum. The project will start in 2013 as per the company and will be completed by 2014. Mr. Sanjay Manchanda, the CEO of Nakheel expressed gratitude to engage with the RSP and stated that Palm Mall will be a source of attraction for the investors as well as residence seekers in posh areas of Dubai and this will certainly be a great addition to the magnificent Palm Jumeirah Islands.

Dubai Festival City – An Ornament of Dubai Real Estate

Dubai has been a city of attractions and these attractions include some of the biggest events that are held in this city. These events are the main eye catch of this city as they bring thousands of visitors every year and these visitors and tourists are one of the major sources of income for the state of Dubai. Dubai Festival City was primarily developed for this very reason that the tourists who come to this city can have a further attraction and all these events could be held in this society. It was a huge project which not only focused the events that were to be held in this city but also for the purpose of residence and other commercial needs.

It is a fact that hundreds of thousands of visitors and businessmen come to this city and massive level events like the Dubai Shopping Festival or the Cricket championships that are held here in this city. These visitors are a major source of income, not only for the state, but also for the small businessmen who can make big bucks during these events. This category includes the artists like calligraphers etc who can present their art at such events and they can have a permanent residence at this place. This not only helps them to perform at events but also stay close to the hub of such activities.

This massive project of concert halls, festival grounds, clubs, restaurants, hotels, commercial buildings and residential areas will be completed by 2015 and it is believed that it will put a huge effect on the Dubai real estate which is the major attraction for the businessmen throughout the world. It has already made scores of revenues for the state of Dubai and has been a charm for the global investors in Dubai over the years. Dubai Festival City will just be yet another fantastic addition to the already magnificently ornamented Dubai property sector.