OFFICIAL MAGAZINE

OF REAL ESTATE REGULATORY AGENCY

MANAGING EDITOR
K Raveendran ravi@sterlingp.ae

MANAGING DIRECTOR
Sankaranarayanan sankar@sterlingp.ae

EDITOR
Linda Benbow linda@sterlingp.ae

Contributing Editors
Vanit Sethi vanit@sterlingp.ae
Manju Ramanan manju@sterlingp.ae

Creative Director
Message from the CEO
Harikumar PB harikumarpb@gmail.com

I
Designer am so glad that the matter of residency visas for foreign homeowners
is being solved, and issued, from a federal level. My opinion on this
Ujwala Ranade ujjwalaranade@yahoo.com
matter has been known from the beginning when stating on many
Sales and Marketing occasions that real estate and visas are two different issues.

General Manager (Sales & Marketing)

This means two things to me: first – things are moving towards more
Radhika Natu radhika@sterlingp.ae federal real estate regulation and, second - investors finally have one thing
Product Manager in common about real estate all over the UAE, so on one can promise
Vijayan G vijay@sterlingp.ae him something against the law – it is clear to all that a real estate visa is
regulated by the Government of the UAE.
Accounts & Administration
Let us hope the next step, which is full integration between Real Estate
Biju Varghese biju@sterlingp.ae
departments towards a single Real Estate database, is fulfilled soon.
Office Co-ordinator
Daisy Cartagena Orfrecio daisy@sterlingp.ae Eng. Marwan Bin Ghalita
Circulation Supervisors CEO, Real Estate Regulatory Agency
Ibrahim A. Hameed
Saleem K U
The CEO’s message refers to recent announcements:
Foreigners buying a home in the UAE valued at more than 1 million
dirhams will be eligible for a six-month renewable residency visa under a
new federal law announced recently by the Ministry of the Interior who
Printing
said the move underlines the government’s commitment to serving the
Asiatic Printing Press L.L.C., PB 3522, interests of all people who view the country as ‘an oasis of stability and
Ajman, UAE. Tel. 06 743 4221, peace’. A new paragraph will be added to article 33 of the executive
www.asiaticpress.com, regulations of the law for entry and residency of foreigners. It will read:
email: asiatic@eim.ae ‘Owners of built-in properties can stay for six months from the date of entry
Distribution: Tawseel PB No 500666 into the country. On the expiry of this period, the owner pledges to depart
Dubai, UAE. Tel: (+971 4) 342 1512 for his homeland or any of the GCC countries. He will only be allowed to
DUBAI REAL TIMES

Sultanate of Oman: Al-Atta’a enter the country again after meeting the required conditions.’.
Distribution Est., Kuwait: The Kuwaiti
Group for Publishing & Distribution
Co.Bahrain: Al Hilal Corporation,
Qatar: Dar Al-Thaqafah, Saudi Arabia:
Saudi Distribution Company

RERA neither takes Sterling Publications FZ LLC Loft Office 2, G 01, Dubai Media City
responsibility nor accredits any P.O. Box 500595, Dubai, UAE. Tel. +971 4 3678061 + 971 4 367 2245, Fax +971 4 367 8613
studies, research or statistics Website: www.sterlingp.ae Email: info@sterlingp.ae 1
that are not issued by it. Overseas offices: India: Anand Vardhan, DII/89,
Pandara Road, New Delhi, 110003. Tel: 0091 1 26517981
Bahrain: Sunliz Publications W.L.L, PO BOX 2114, Manama,
Kingdom of Bahrain. Tel: 00973 17276682
 4 COVER STORY Open Days, relationships and alliances
C
10 Statistics: March figures 9 News
O Online
N Index
T Calculator
E
N
Retail destination
T Budget hotels
One project at a time
S Smart technology
Neighbourhood changes
Slowdown allows time for installation of utilities
Flexible rental terms
Money saving schemes
Bridging the landlord-tenant divide

36 Profile Public transport system

25 Achievements 40 Infrastructure The work goes on
ISO certification
43 Environment Energy consumption at home
DUBAI REAL TIMES

Strategy for success

Progress reports on four hotels
31 Dubai Focus
Keeping up with trends
Multitude of activities
2 Wellness in real estate
 RERA NEWS

Mohammed Bin Rashid

recognizes Land Department
H
is Highness Sheikh Mohammed bin Rashid Al Maktoum, UAE
Vice President and Prime Minister of the UAE and Ruler of
Dubai, attended the 11th ceremony of the Dubai Government
Excellence Programme, DGEP, which was held at the Madinat
Jumeirah at the end of April. Addressing the audience, Sheikh Maktoum
bin Mohammed bin Rashid Al Maktoum, Dubai Deputy Ruler, highlighted
that the key objective of the programme is to promote excellence in the
government sector.
He went on to pledge that the march towards excellence- inspired by
Sheikh Mohammed’s thoughts and vision, would continue, and undertook
to add new award categories in the future to drive economic development
forward.
On taking the stage next to Dubai Crown Prince Sheikh Hamdan bin
Mohammed bin Rashid Al Maktoum and Sheikh Maktoum, Sheikh Moham-
med distributed awards and certificates of appreciation to the winners in
the various award categories.
Sheikh Mohammed congratulated the winners, and called on all aspir-
ing contenders to work harder, so that they may stand alongside the win-
ners in the future. He concluded by drawing attention to the vital role
people play in development and innovative processes, and praised the
national capacity to produce leaders capable of guiding government insti-
tutions and the country towards success.
The awards ceremony was attended by Chairman of Dubai Culture and
Arts Authority Sheikh Majid bin Mohammed bin Rashid Al Maktoum; Chair-
man of Dubai Civil Aviation and Chief Executive of Emirates Group Sheikh
Ahmed bin Saeed Al Maktoum; Sheikh Mansour bin Mohammed bin
Rashid Al Maktoum, other sheikhs, ministers, dignitaries, heads of govern-
ment departments and a large number of government department staff.
DGEP was established in 1997 and aims at improving the performance
of Dubai’s government sector. The programme recognises and rewards
exceptional government employees, departments, projects and initiatives
with a trophy and a certificate of appreciation, while exceptional individu-
als are eligible for cash prizes and promotions.

2008
winners
all
DUBAI REAL TIMES

Land Department - Best Result in Customer Satisfaction - Result Achieved: 85%

Land Department - Best Result in Employee Satisfaction – Result Achieved: 81%
Land Department - Distinguished New Employee - Mohammed Ali Al Bedwawi
Land Department - Government Creative Employee - Barraq Abdelrazaq Bin Nasif
Land Deparment – Unknown soldiers - Mohammed Ibrahim (Records co-ordinator)
3
Land Deparment – Unknown soldiers - Saleh Al Mulla (property registration)
 OPEN DAY
Opening up to people
RERA’s new initiative of ‘Open Tuesday’ is a step for investors and developers to reach
out directly to the government
By Ambily Vijaykumar
I
t is a new initiative that RERA
believes will help bridge the
communication gap between
builders, developers, investors,
banks and the government. Started
just over two months ago, Open
Tuesday has become a platform for
people involved in the real estate
sector to communicate with the
government authorities and convey
their problems and fears at a time
when there of considerable uncer-
tainty with regard to the status of
various projects.
“It is not possible to address the
issues of all our clients in one day
with fixed appointments. So we
thought this open forum will be a
great platform to interact with the
parties concerned, and get a feed-
back from end-users as well, on
what their apprehensions and prob-
lems are. Earlier, it would take me an
hour at least to listen to individual
complaints. Now all I need is five
minutes,” says Essa Saeed Ahmed
Al Mansoori, Head of Trust Accounts
Section at RERA.
This step is part of the larger
initiatives the regulatory agency
plans to implement in the coming
DUBAI REAL TIMES
months.
The general complaint the agen-
cy has been getting through its
‘Open Tuesday’ initiative is with on
the construction status of various
projects.
“Most complaints are on the lines
that people have paid up to 40 per
4 cent of the money for the project,
but the construction has not begun.
the next three months,” informed
Al Mansoori.
Despite all the concerns how-
ever, RERA says the market has sta-
bilized. Both developers and inves-
tors are looking for information and
RERA is ensuring that it is acting as
a medium to dispatch the informa-
tion.
“They are satisfied that the in-
formation being given to them is
keeping them on track and they are
better able to understand what is
going on with regard to their proj-
ects and investments.”
Essa Saeed Ahmed Al Mansoori, Head of Trust Accounts Section at RERA
So they are keen to know what is
going on,” says Essa Saeed Ahmed
Al Mansoori. “This is something the
developers need to clarify with their
investors,” he adds.
However, people want a direct
interaction with the government.
It is to address this issue that RERA
is also planning to offer chat room
facility on its website for clients in
the future.
But investor confidence is some-
thing RERA is working hard to re-
build and so they have mooted a
plan to launch a project within the
next three months that will enable
investors to keep track of their pay-
ments.
“The investor will be given a
username and password and they
can track on their payments. RERA
has been working on this project
since November last year and we
are hoping to get it ready within
 The market rebound has hap-
pened with ready properties, but
the trend is yet to surface with
off-plan properties. With regard to
accountability, RERA’s initiative to
have compulsory registration for
all properties in Dubai was a much
appreciated step. “The response to
that has been overwhelming. We
are running short of employees
to complete the job for us. For the
moment though, we are trying to
clear the backlog,” he says.
Since the registration drive be-
gan, a total of 757 projects have
been registered, of which 43 per
cent are under construction. There
are, of course, projects that have
been cancelled or delayed, but
they are the ones for which con-
struction has not begun.
“The investor will be given a username and
password and they can follow up on their
payment and track where the money is going.
RERA has been working on this project since
November last year and we are hoping to get it
ready within the next three months”
The regulator is also progress-
ing steadily on the inspection front.
That was part of RERA’s initiative
to make the construction status of
projects transparent so that inves-
tor confidence in Dubai is not erod-
ed in the backdrop of the global
financial crisis and the real estate
slump that has followed.
A total of 150 sites have already
been inspected and the status
report for each project is up on
RERA’s official website. Developers
have been categorised according
to the number of projects they are
involved in. Those with five and
more projects, have been covered.
This month, RERA will concentrate
on developers with less than five
projects.
RERA frankly says that developers
who might not be able to deliver on
time “form the majority” of the lot,
but they also add that “these devel-
opers have substantial reasons be-
hind not sticking to their deadlines.”
Such a situation also calls for
evaluation of projects to determine
whether they can go ahead or not.
A five, member committee has al-
ready been established to evaluate
each project in Dubai.
“Whether a project should go
ahead or not, what are the reasons
behind the delay or cancellation of
any project - all that needs to be
studied. Many of the builders have
a good reason for not beginning
construction on projects that have
already been given six months time
to start work. But we cannot lose
the faith of the investor. So we de-
cided that establishing a committee
to evaluate projects will be a step
in the right direction,” says Al Man-
soori.
Launch of finance has been one
of the key reasons behind the slow-
ing pace of the real estate sector.
Banks are yet to open up an lending
to the real estate and construction
sector.
“We need the support from the
banks. They should believe in Dubai.
Banks established even before the
UAE was formed are not supporting
the construction sector now. But
we also believe they are in the pro-
cess of re-organising their in-house
DUBAI REAL TIMES
structure in terms of lending, after
which they will be more coopera-
tive,” he says.
Underscoring the signs of recov-
ery, Al Mansoori says, “The Dh6.5
billion Dubai Golf City project is an
indicator that people still have faith
in Dubai.”
And that trust needs to be safe- 5
guarded.
 RELATIONSHIPS

Forging new alliances

RERA reaches out to real estate bodies to increase expertise exchange
By Ambily Vijaykumar

T
  he global economic crisis
has driven home the need
to evolve constantly. The
real estate market in Dubai
that has suffered in the aftermath of
the crisis is now planning to leave
its past behind and look at the fu-
ture from a new perspective. The
path that has been chosen is that
of knowledge, acquisition and shar-
ing.
Dubai’s real estate regulator
RERA has been working in the last
few months to build relationships
with international associations that
work in the real estate sector. The
step will enable RERA to not only
be represented at an international
level, but also to receive knowledge
and expertise in the sector which
can then be implemented in the
Dubai market.
“But it is not that we are ‘copy-
ing and pasting’ models. We will
take the best from the world and
add our expertise to it, to best suit
the needs of our local market,” says
Mahmoud Hesham Al Burai, Direc-
tor of the Real Estate Sector Devel-
opment Department.
As part of RERA’s first initiatives,
the regulator has signed an agree-
ment with RICS, i.e. The Royal Insti-
tution of Chartered Surveyors of the
UK, to improve and boost profes-
DUBAI REAL TIMES
Paris. Mahmoud Al Burai has been
appointed one of the board mem-
bers of its UK chapter. FIABCI works
as a special consultant to the Unit-
ed Nations and they are also help-
ing RERA with establishing their
Middle East chapter.
This apart, RERA is also a mem-
ber of APREA which is The Asian
Public Real Estate Association as
well as WAVO which is The World
Association of Valuation Organisa-
tions. RERA hopes to not only ben-
efit from their knowledge but also
take its experiences to the rest of
the world.
Initiatives are also under way for
the establishment of a Middle East
Mahmoud Hesham Al Burai
North Africa Real Estate Society as
part of the International Real Estate
The Regulator has signed an agreement with Society. This is aimed at offering a
platform for professionals in the
the Royal Institution of Chartered Surveyors of Middle East and to boost real es-
the UK to improve and boost professionalism tate research and education in the
in the valuation industry in Dubai. RERA is region. RERA also hopes that this
society will help in raising profes-
working in tandem with RICS to come up sionalism apart from assisting in
with international standards for the real estate organising important seminars and
sector that suit Dubai other important events in the real
estate calendar since the long-term
vision is on consolidating “real es-
tate education” in the Middle East.
government agencies and other or- rest of the regulatory authorities RERA is already dealing with two
ganisations around the world that across the world,” says Mahmoud academies, one being the Dubai
issue real estate licences or registra- Hesham Al Burai. Real Estate Institute and second

sionalism in the valuation industry
in Dubai. RERA is working in tandem
with RICS to come up with interna-
tional standards for the real estate
sector that suit Dubai.
RERA also has the unique dis-
tinction of being the solitary Middle
East member at Arello, the Associa-
6 tion of Real Estate License Law Of-
ficials. Arello comprises the official
tions in addition to regulating real
estate prices and enforcing real es-
tate laws.
Last month RERA was represent-
ed at the ARELLO meet in the US,
where the regulator made a pre-
sentation showcasing Dubai. “We
want to build the best standards
for us. We also want to build a mu-
tually beneficiary relation with the
Give and take apart, RERA
aims to become a reference for
real estate markets in the region.
That can be achieved only when
international standards are imple-
mented in the market in Dubai.
As a step in that direction, RERA
has also joined hands with FIABCI
which is the International Real Es-
tate Federation headquartered in
MRE Academy in offering real es-
tate courses to brokers. Soon the
authority plans to introduce cours-
es to train general managers, mort-
gage brokers and also evaluators.
The authority also thinks the cur-
rent crisis has offered a good op-
portunity to re-evaluate strategies
and re-build human resources.
So will that re-thinking of strat-
egies reflect in the pace of the real
estate development in Dubai?
“We are not saying that the mar-
ket is doing badly, but it needs more
guidance, more supervision. We
need to look deeply to find whether
demand and supply is comple-
menting each other or not. We have
to see whether we are overbuilding.
Our future development strategies
should revolve around quality and
not quantity and we also have to
consider the number of people we
are going to have in the emirate,”
says Mahmoud Al Burai.
RERA has also been in talks with
real estate developers asking them
to focus on re-thinking their ap-
proach. Developers are now being
asked by the government to focus
more on sustainable relationship
with their customers instead of go-
ing in for a 100 per cent debt or ex-
cessive leveraging.
“As a regulator we have the
power of the law which we will be
enforcing. The law has to be utilised
in the direction to achieve an attrac-
tive and sustainable real estate mar-
ket in Dubai,” he adds.
RERA also believes that most of what is
going on in the market is driven by sentiment
and that there is liquidity but people are
waiting for a good time to invest
An attractive real estate market
means one where the investors
and developer, rights are protect-
ed. It is also a market that yields
high returns. This is the positioning
that RERA aims to do for the Dubai
market. “We have been success-
ful in doing that so far and we will
continue to do that in the future.
We will also market the business
friendly environment of the city,”
informs Mahmoud Al Burai.
While RERA will continue to take
Dubai to the world, there are a lot
of things that they are also bringing
from around the world to the city.
Transparency in real estate opera-
tions is an aspect that the regulator
will be focusing on and; it will want
to continue to see Dubai among
the top cities in the world on that
index.
“We are doing what no one else
has done so far. The technical audit
of projects is the first of its kind in the
world. People can go to the website
and find out the status of any proj-
ect in Dubai. Escrow accounts have
been created to guarantee rights.
This market is different from the rest
of the world, so we can’t adopt ev-
erything from outside, but we are
also open to ideas,” he adds.
The confidence in the Dubai
market comes from “increased
transaction figures over the past
few weeks” informs Al Burai. “The
worst is behind us. We are now deal-
ing with a different stage. Our laws
have proved to be effective. Dubai’s
uniqueness will restore the market
to its original form, but before that
we want to make sure that all the
laws are in place,” he says.
RERA also believes that most of
what is going on in the market is
driven by sentiment and that there
is liquidity but people are waiting
for a good time to invest. however,
as and when the market gets back
on its feet, the regulator does not
want it to be “a risky market”. Even if
it rises, they want a smooth landing
next time.
Though there has been a de-
crease in transactions in the first
quarter of this year by 30 per cent
as compared to last year, that has
DUBAI REAL TIMES
mostly hit the off-plan sector while
there has only been a “marginal”
slump in under construction ones.
As for the rents, they are expect-
ed to drop but would vary depend-
ing on the area in Dubai. With many
ready projects not selling, they have
crowded the rental markets and this
is expected to contribute in bring- 7
ing rents further down.
 RERA NEWS

RERA and
ARRA sign
cooperation
RERA’s CEO, Marwan bin Ghalita, and ARRA’s Director General,
pact
Omar Al Barguthi, signing the cooperation agreement at RERA’s office

R
eal Estate Regulatory
Agency (RERA) and Ajman
Real Estate Regulatory
Agency (ARRA) signed a
cooperation agreement at RERA’s
offices, said a statement released
recently.
The agreement, which under-
lines the importance of strength-
ening cooperation ties between
the two organizations was signed
by RERA’s Chief, Marwan bin Ghalita
DUBAI REAL TIMES
property management companies
as well as the workforce of such The pact emphasises the need to create
companies.
Commenting on the deal, Mar- a unified strategy to develop, modernise
wan Bin Ghalita, CEO of RERA, de- and organise real estate –related activities
scribed the agreement as a major
step forward in the real estate sec-
including developers, real estate brokers and
tor: “It will focus in establishing a property management companies as well as
unified vision in developing, up- the workforce of such companies
dating and regulating all real estate
activities, real estate companies and
people who work in brokerage of-

and ARRA’s Director General, Omar
Al Barguthi in the presence of His
Excellency, Sultan Butti bin Mijrin,
Director General of the Land De-
partment.
The pact emphasises the need
to create a unified strategy to de-
velop, modernise and organise real
8 estate –related activities including
developers, real estate brokers and
fices and real estate management.
In addition we will prepare neces-
sary criteria and conditions to own
broker ID and real estate manage-
ment ID.”
The agreement will regulate
the work of brokers and real es-
tate advertising between the two
emirates to be along with laws and
regulations in Dubai and Ajman by
establishing unified data base with
all information and data relevant to
the brokerage business, real estate
management or real estate devel-
opment.
On his part, the ARRA chief said
that the extensive agreement cor-
roborated the iron-clad relation-
ship between ARRA and RERA.
The pact covers common areas
of cooperation, including the need
to exchange views, expertise and
means to cope with the latest de-
velopments in the property sector.
Both sides agree to appoint
either an entity or a committee
which will represent each party for
follow up purposes; and to make
sure that all terms of the agree-
ment are well implemented.
 ALLIANCES

RERA’s trip began in New

York City where Al Burai
and Waskiewicz met with
the directors of New York
University’s Schack Real
Estate Institute, followed by
a meeting with former US
Presidential Candidate and
Ex-Mayor of New York City,
Mr. Rudy Giuliani

R
ERA's Director of Real Estate
Sector Development, Eng.
Mahmoud Al Burai, accom-
panied by Colleen Waskie-
wicz, International Cooperation &
Marketing, have recently returned
from a two week trip to the US where
they met with industry experts, at-
tended global regulator conferences,
and discussed research and educa-
tional issues with real estate profes-
sionals and academics.
RERA's trip began in New York City
where Al Burai and Waskiewicz met
with the directors of New York Uni-
versity's Schack Real Estate Institute,
followed by a meeting with former US
Presidential Candidate and Ex-Mayor
of New York City, Mr. Rudy Giuliani.
sions and brainstorming sessions
took place between RERA and Mr.
Rudy Giuliani, accompanied by his
chief team of advisors, about the
phenomenally rapid development
of Dubai. A lawyer by education and
expert in city planning by practice,
having cleaned-up New York City
during his time as Mayor, Giuliani
spoke deeply and passionately about
the opportunities available in Dubai
for further strategic growth in the
real estate and public transportation
sectors. Based on his expertise and
experience in the Middle East (having
a law office based in Dubai), Giuliani
was enthusiastic to continue com-
munication with RERA to work to-
gether, noting that Dubai, "is always
RERA visits
the United
States
During this week-long conference of
meetings, discussion groups, presen-
tations and networking events with
over 100 regulators from Washington
D.C. to South Africa in attendance,
RERA was officially welcomed as the
newest ARELLO member, given the
honour of hosting the District 6 (In-
ternational) ARELLO Conference later
this year, and asked to join multiple
committees within ARELLO. Eng. Al
Burai gave a 45 minutes presentation
on the UAE, Dubai, RERA, and which
was received with not only a stand-
ing ovation, but a slew of questions
from extremely interested parties
we are excited that Dubai has joined
the ranks to unite with us to further
diversify and standardise real estate
regulation around the world."
On the sidelines of this conference,
Al Burai and Waskiewicz were able to
have several other meetings, all in
the aim of further developing real
estate education and training, legis-
lation and regulation, as well as best
practices in the Dubai market. RERA
met with a number of real estate
education experts, the CEO of Texas
A&M University's Real Estate Research
Center, the Community Associations
Institute Chief Executive Officer, and
DUBAI REAL TIMES

Meeting with one of the oldest and
most reputable university real estate
research and education centres in the
US, officials discussed NYU's research
methodology, course offerings and
requirements for real estate licensing
and training, as well as the future po-
tential for working together to further
education in real estate. Highlighting
the trip to New York, lengthy discus-
where westerners will feel most com-
fortable doing business in the Middle
East".
The focal point of this trip to the
US was RERA's inaugural participa-
tion in the Association of Law License
Officials (ARELLO)'s mid-year confer-
ence in Asheville, North Carolina.
ARELLO is an international associa-
tion of global real estate regulators.
to learn more about the successes
of RERA and our Emirate. Speaking
about RERA's membership, ARELLO
President Ms. Anne Woody com-
mented, "ARELLO is the Association
of Real Estate License Law Officials
an international association of real
estate regulators whose mission is
promoting excellence in regulation
and protecting the public. Therefore
help individual meetings with several
jurisdiction regulators.
This trip culminated in a visit to
the International Real Estate Society's
(IRES) President, CEO and Secretary in
Clemson, South Carolina. IRES direc-
tors officially blessed RERA's efforts
to establish the Middle East North
Africa Real Estate Society (MENARES) 9
in Dubai.
 International cooperation
By Ambily Vijaykumar
S
pearheading RERA’s initia-
tive to forge alliances with
international organizations
in the real estate sector is
Colleen Waskiewicz, the head of the
International Marketing and Co-op-
eration Department. She is respon-
sible for getting the regulator into
strategic partnerships and agree-
ments with these organisations that
are working in real estate regulation
and legislation.
“My job is to enable RERA to track
knowledge and expertise in the real
Rental increase calculator
DUBAI REAL TIMES
N
ow that registrations of rental
agreements are progressing
more rapidly, RERA has used
the information to place a rental in-
crease calculator on its website, www.
rpdubai.com, which allows tenants to
negotiate significantly cheaper rents
than before; landlords use the index
10 to set rents in Dubai.
The new prices are calculated by
estate sector from all four corners of
the globe,” says Coleen. Hence, the
department has “done extremely
well” she adds.
But what is it that RERA intends
to bring on board with these alli-
ances?
“We are working across all sec-
tors and we intend to imbibe ex-
pertise from regulation and train-
ing and education of brokers and
developers. Basically we are trying
to add to every aspect of the sector
that RERA works in,” says Coleen.
inputting information into a specially
set-up part of the website.
• A three-bedroom villa in The
Springs should cost between
Dh140,000 and Dh160,000 a year,
a maximum of a 50 per cent dis-
count on the previous guideline
rent of Dh250,000 to Dh280,000.
• A two-bedroom apartment in the
Marina has fallen by up to 36 per
RERA’s approach also involves giv-
ing its staff in-depth knowledge of
the field thereby taking the expertise
they gain into the market. “Someone
is going through the various train-
ing programmes that we are doing,
someone is going through semi-
nars, someone is going into the laws
and regulations that we are putting
through into the market and every-
thing that we are learning is being
localised into Dubai,” she explains.
That however does not mean
that Dubai is being modelled on
any particular city. Dubai’s unique-
ness is being preserved by getting
the best from the world and taking
those aspects that work best for the
city. Expertise from various countries
are being gained in regulation laws,
training, best practices and broker
ethics to name a few.
But that does not mean that RERA
is lagging in any of these fronts clari-
fies Coleen. “RERA is doing a great
job, since its inception, of cover-
ing every aspect of real estate and
regulation. But I do think that RERA
is filling every aspect of its real estate
regulation as well,” she states.
So is there any particular model
that Dubai is focusing on currently?
+ - X --
cent and now costs Dh 120,000 to
Dh 160,000.
• According to RERA, a four- bedroom
villa on the Palm Jumeirah should
now be leased for Dh300,000 to
Dh350,000, compared with the
previously recommended rent of
Dh400,000 to Dh500,000.
• Residents at The Greens should
now pay Dh120,000 to Dh140,000
“We are working
across all sectors
and we intend to
imbibe expertise
from regulation
and training and
education of brokers
and developers”
“What is most important is to see
which countries have succeeded in
every aspect that we are working on.
We will then be collecting expertise
from these countries and localising
them to the Dubai market. It gets nar-
row minded to just take one country
and focus on that one,” she clarifies.
She adds that real estate brokers, de-
velopers and valuers in Dubai stand
to gain hugely from this initiative.
a year for a two-bed apartment, a
drop of 36 per cent.
• In International City, rents are
slashed by 22 per cent, from Dh
85,000 to Dh90,000, to between
Dh70,000 and Dh80,000.
• The same percentage of cut ap-
plies to Jumeirah Beach Residence
(JBR) which is now between Dh
40,000 and Dh160,000.
 STATISTICS

Transactions and sales during

March 2009
Total transaction for the month was Dh7.33 billion
Total value of land sales transaction (DhMillion) Top 10

Note: total transaction are represented by sales, mortgage,

evaluation …list of services

Land
Land Sales Transaction :
Overview of land sales transaction for the districts in Dubai:
Total area of sales transaction (AED, Million) Top 10
• Total number of sales transactions in the districts was 257 with a total
value of transactions Dh2.30 billion for 5.50 million sq.ft.
• Jabal Ali had the highest number of sales transactions which was 78
sales.
• The highest value of sales achieved by Trade Center First district
with Dh600 Million.
• The highest area size was in Palm Jumeirah district with Dh1,753
Million.

Total Number of Land Sales Transaction - Top 10

DUBAI REAL TIMES

Land mortgage transactions :

• Overview of land mortgage transactions for the districts in Dubai:

• Total number of land mortgage transactions of the districts was 209 with
the total value of transactions Dh2.65 billion for 6.89 million sq.ft.
• Al Kwaneej First & Ranches districts had the highest number of mortgages
which was 15.
• The highest value of mortgages achieved by Trade Center First district
with Dh480 Million. 11
• The highest area size was in Jabal Ali Industrial district with Dh.2,230 million
 Total number of land mortgage transactions Top 10 :
Total value of land mortgage transactions (AED, Million) Top 10 :
Total area of mortgage transaction (Million) Top 10
Land transaction summary
Flat
DUBAI REAL TIMES
Flat sales transactions
• Overview of flat sales transactions for the district in Dubai:
• Total number of sales transactions of the districts was 2016 with a
total value of transactions Dh1.62 Billion for 1.97 million sq.ft.
• Warsan First had the highest number of sales which was 966.
• The highest value of sales was achieved by Palm Jumeirah district
with Dh505 million.
12 • The highest area size was in Warsan First district with Dh593
million.
Total number of flat sales transaction
Total value of flat Sales transactions (DhMillion)
Total area of mortgage transactions (million)
Flat mortgage transactions
• Overview of flat mortgage transactions for the districts in Dubai:
• Total number of mortgage transactions of the districts was 138 with
a total value of transactions Dh177.62 million for 182,000Sq.ft.
• Sk. Zayed Road had the highest no. of mortgage which was 59
mortgage transactions.
• The highest value of mortgages achieved by Sk. Zayed Road district
with Dh83 Million.
• The highest area size was in Sk. Zayed Road district with Dh75,000.
Total Number of Flat Mortgage Transaction Villa
Villa Sales Transactions

• Overview of villa sales transactions for the districts in Dubai:

• Total number of mortgage transactions of the districts was 124 with a
total value of transactions 179 million AED for 235 thousand Sq.ft.
• Emirates hill 3rd had the highest No. of sales which was 84 sales trans-
actions.
• The highest value of sales achieved by emirates hill 3rd district with
97 million AED.
• The highest area size was in emirates hill 3rd district with 152 thou-
sand AED.

Total Number of villa sales transactions

Total Value of Flat Mortgages Transaction (Million, AED)

Total Value of villa sales transaction (Dh Million)

Flat Total Area of Mortgage Transaction (Million)

Total area of sales transaction (thousand)

Flats Transactions Summary

DUBAI REAL TIMES

Total value of mortgage transactions (Dh Million)

13
 PROFILE

Integrated public transport

Last month, the American Business Council and the Canadian Business Council jointly
organised a luncheon talk by Abdul Mohsin Ibrahim A. Younes, Member of Board of
Directors and CEO of Strategy and Corporate Governance, RTA, on the up-to-date position
of construction of an integrated public transport network
By Heena Awani

H
e threw light on the
challenges posed to
the transport system in
Dubai. One of the key
solutions to most of these problems
is changing the attitude of commut-
ers, he said.
“The car must no longer be
looked on as a necessity, a status
symbol, and a ‘must-have’ item.
W.J. (Bill) Ryan, President of American Business Council, thanked Abdul
DUBAI REAL TIMES
travel.”
The Roads and Transport Author-
ity will celebrate its fourth birthday
in November this year. It is a remark-
able feat for any organisation to be
so young and yet achieve so much.
The RTA is a fully independent gov-
ernment entity and is responsible
for designing, constructing, oper-
ating and managing all transport
centre, the RTA takes upon itself the
responsibility to ensure a safe and
smooth transportation system in
the city.
Traffic congestion was the first
issue to be talked upon and is prob-
ably the biggest of the worries
for almost everyone in Dubai. To
reach the workplace from home is
an enormous task on its own. “Ac-
Traffic congestion
was the first issue
to be talked upon
and is probably
the biggest of the
worries for almost
everyone in Dubai
cording to a study, on an average,
Dh5.9 billion a year is wasted in our
movable boxes, thus affecting our
economy,” he said
The RTA is constantly trying to
build a better road network. It has
widened and added on to 80 per
cent of the road’s capacity in the
main city, and has increased the
lanes on Creek Crossing from 19 to
48, which is an increase of 150 per
cent in three years. It intends to con-
struct 500km of new roads by 2020.
It will add two ring roads into the
system and will provide direct links
to certain communities. With these
changes, a commuter will have a
direct passage from the BurJuman
Centre to Marina. He will avoid traf-
fic on roads like Sheikh Zayed Road.
The authority is also working
on 95 new interchanges. The end
of April saw the opening of a new
double-decker road -- a flyover built
over Doha Street, near Downtown
Dubai. It will ease the flow of traffic
in the Burj Dubai area and give di-
rect access to Burj Dubai and DIFC.
It links Business Bay and Al Khail
Road to various roads in Jumeirah.
The much-awaited Metro will re-

Mohsin Ibrahim A. Younes, Member of Board of Directors and CEO RTA for Metro train for the Red Line
his informative talk

Many other countries in both the
East and the West have citizens
who happily use public transport
to get from one place to another.
Buses, trains, ferries and other
36 modes are an accepted way of life,
an inexpensive and efficient way to
and roads infrastructure in the emir-
ate. This regulatory body has two
aspects to its authority (1) Strategy,
and (2) Corporate Support Service
Sector -- which comprises six teams.
Considering Dubai’s growing role
as a commercial hub and business
typically the bellwether for modern
retailing concepts in a country.
It will be interesting to see what
this year’s index, to be published in
June, will reveal. Will the Middle East
still show the promise of last year?
And if yes, what are retailers and op-
erators of local retail real estate do-
ing to adjust to the new climate? The
index certainly promises interesting
and important information in view
of the way the world has changed
from last year.
Dubai has the greatest agglom-
eration of retail space in the whole
Middle East and North Africa region
with some 1.3 million square metres
of gross leasable area (GLA) already
finished, according to Retail Interna-
tional statistics. With the size of 50
football pitches, Dubai Mall alone is
overtaking the size of South China
Mall, as it spans 1.11 square kilome-
tres, covering 10 to 15 sub-malls with
840,000 square metres of retail space
Arabia poised to welcome new
hospitality flags
A
rabia continues to remain
a favourite among inves-
tors and operators in the
tourism and hospitality sector, in
particular those in the budget seg-
ment, according to Jonathan Wors-
ley, co-organiser of the Arabian Ho-
tel Investment Conference. He said
that industry figures show that the
region is still considered a hot-spot,
although 10 and 20 per cent of the
500-plus planned hotel projects in
GCC have been put on hold.
"Recent numbers issued by Jones
Lang LaSalle estimates that 680,000
new hotel rooms will enter the mar-
ket next year in the greater Middle
East and North Africa region (MENA)
- compared to an original prediction
of more than 800,000. It seems that
many are jumping on the budget
hotel bandwagon that is sweeping
through the GCC. Indeed, the case
for low-cost hotels and the buoyant
entry of new brands into the region
is high among the key topics un-
der discussion during the three-day
for more than 1,000 stores.
The global downturn has turned
the focus of retail back to customers’
needs – and retailers should realign
their strategies to concentrate on
the resident UAE market, if we had a
say in it. As retailers and traders have
reported falls in revenue of close to
30 per cent, we at A.T. Kearney have
outlined the way forward for the
sector, believing that stability has
begun to return, and the time is now
ripe to provide shoppers with bet-
ter in-store experiences, improved
customer service and greater value
products. Slashing prices is general-
ly not the single nor best long-term
solution
A survey by the Dubai Chamber
of Commerce indicated that Dubai’s
trading sector was given an average
score of 5.9 by surveyed traders for
2009, where 10 represents the most
positive outlook, compared with 6.6
in 2008. The subsectors with the
Darroch Crawford
event (May 2nd & 4th),” he said.
Worsley suggested that budget
hotels are set to revolutionise the
scale of choice for the consumer and
open up new market categories for
business and leisure travel. He noted
that Emirates and Whitbread Hotels
have entered into a joint venture,
with the Premier Inn brand and plan
to operate three hotels in Dubai later
this year.
worst outlook for 2009 were house-
hold goods and consumer goods,
which were both rated at 5.5 out
of 10, compared with 6.2 and 6.3 in
2008 respectively.
As management consultants we
believe that staying with the chosen
strategy is in most cases appropriate.
Measures that we do recommend
focus on reviewing market changes,
looking at cost and benefit ratios,
Darroch Crawford, Managing Di-
rector Premier Inn, said: "The limited-
service hotel sector presents the
best opportunity in these times as
even more individuals, and certainly
most businesses, look for value for
money. We are offering guaranteed
consistency at a low price that will
be in big demand. Lower operating
costs allow budget hotels to make
excellent returns, even at modest
Recent numbers issued
by Jones Lang LaSalle
estimate that 680,000
new hotel rooms will
enter the market next
year in the greater
Middle East and North
Africa region (MENA) -
compared to an original
prediction of more than
800,000
reviewing customer service models
and aiming to get the basics right. As
we have experienced over and over
again, business goes through cycles
and managing the peaks and troughs
with outsourced knowledge is where
we play a large part and can assist
local retailers with the expertise we
have gained in global markets
occupancy levels. There are good
investment opportunities, particu-
larly as land and construction costs
are returning to more realistic levels.
The best opportunities lie in GCC
capital cities where the limited-ser-
vice sector currently has little or no
representation."
Crawford's view is echoed by
Sami A Ansari, CEO of Ishraq Gulf
Real Estate, the developer behind
Holiday Inn Express. Ansari said that
his hotels in Dubai have outper-
formed the market occupancy aver-
age in the city by as much as 15 per
cent in the past four months.
"Budget hotels have historically
DUBAI REAL TIMES
been shown to be recession resil-
ient. The model continues to gener-
ate targeted profits for investors, as
they operate on much lower mar-
gins than their full service rivals," he
said.
Other low cost brands an-
nounced easyHotels in Dubai and
Rotana's Centro in Dubai and Abu 15
Dhabi.
 COMMENTS

One at a time
Linda Benbow talked
to Manish Bhatia
about Hircon’s
ongoing project and
its expansion plans
for the future

D
ubai has lots going for it
already. It was a success-
ful trading town before,
and it will continue to be
successful in the future. It already
has good infrastructure which is be-
ing expanded and improved upon
in many places, for trade, commerce,
tourism and suchlike. Dubai de-
pends on outsiders such as traders,
cruises, tourists, etc. Yes, it is a tough
time now globally and people don’t
want to travel much, but it is not a
problem situation.
Once things change Dubai stands
to gain more than other places, for
sure.
There are financial problems just
now, and different people are deal-
ing with them in different ways. Peo-
ple are working at finding solutions,
and coming up with many plans
and suggestions. Some don’t know
what to do, which direction to go, or
where to start. Even the government
is involved.
There will be lots of changes, lots
of new things. This crisis is new. It is
DUBAI REAL TIMES
23 Marina is a 90-storey (380 me-
tres+) edifice launched during March
2005. The project is located in Dubai
Marina quay
their business is going to perform, or
whether they will need the money
for something else in the next year
or so. There is no credit because the
banks are not lending.
Luckily for us, Hircon Interna-
tional, we were happy to take on just
one project, a substantial project.
Manish Bhatia is the Director (Sales & Marketing) at Hircon International
LLC. A self-proclaimed action man, he thrives on challenges and believes
nothing is impossible. He has a passion towards cars and bikes, and his
interests also include sky diving and travelling
but when you take that knowledge not always there, i.e. cement and
to another country you must learn steel. Now, due to there being less
some things anew. Local laws, lo- projects to work on, things are re-
cal regulations – it takes time to get versed and we have been able to
used to these things. Real estate make more progress. Customers
legal requirements, in particular, dif- can keep an eye on the progress by
fer and one must learn and get used looking at the update photos that
to the nuances. Then we saw that we take every 15 days and put on
the government itself was learning, our website.
putting in new regulations, so we We also give these update pho-
thought we would take it one step tos and information to RERA to put
at a time. on their website.
The building of 23 Marina is now We are here to stay. The compa-
more than half way up. Most of the ny has expansion plans. Obviously,
selling we did was to end users. We our original plans have changed a
didn’t go for selling a floor, or half little due to the banks not lending
a building. We sold cautiously and to businesses. We have moulded our
were pleased to sell to end users plans accordingly. But, we have faith
mainly. It is now fully sold out. in the long term state of the Dubai
Regular payments have been market. We have plans to, maybe,
collected for these spacious apart- enter the hotel real estate business.
ments and the owners are happy We are looking around within the
with the progress. There have been market.

a new situation for the government
to deal with. Things will take a bit
of time to sort out. At least they are
working on it.
Real Estate is looked on as a se-
cure investment. Whenever there is
an investment it is made by the ‘ex-
tra’ that you want to put aside. Now-
16 days people don’t want to use that
extra money as they don’t know how
There were times when we felt we
were being left behind in the race
to build, but when you go back to
basics and look at your books, we
were glad to do one project very
well. “Let’s get this done, and then
see what we will do next” was our
way of thinking, in the initial stages
when this market was new to us.
You can be an expert in a market,
delays due to regulatory purposes
(introduction of rta rules, new civil
defence rules, etc) but these are mi-
nor delays (four months or so) and
all owners know about them.
For the past six months build-
ing progress has been quicker, to
make up some of the lost time. Last
year building material prices were
extremely high and availability was
Our plans will go a little slower
now as we go forward under our
own capacity, without the aid of the
banks. Put our own equity into our
own projects.
Hircon International LLC was
formed by India’s Hiranandani Devel-
opers Pvt. Ltd and ETA Star Property
Developers a part of the ETA Ascon
conglomerate.

Getting smart with technology
in a buyers’ market
By Richard Hayes, Head of Technology, Cirrus Real Estate Brokerage
G
one are the days when
you could sell a prop-
erty with just an SPA
and a dog-eared, coffee
stained floor plan, or run your cus-
tomer database from A4 paper or
an Excel sheet (if you were one of
the more sophisticated ones). This
is a new era for the Dubai real estate
sector and about time too!
Customers and agents alike will
be all too familiar with the poorly
designed, ill-thought out mass
email exposing everyone's name
and email in the CC line. And you'll
definitely know about the agents
that never get back to you after reg-
istering your property requirements.
Nowdays agents cannot afford a sin-
gle lead to slip through the net.
It's time to get smart with email.
The easiest way to increase your
sales and stop annoying your po-
tential customers is by sending
targeted emails, which means seg-
menting your data. Do you think
prospects that have enquired about
a Dh300,000 studio really want to
know about Signature Villas on the
Palm Jumeriah? The problem with
email is that it is easy to send, which
usually means little or no thought
goes into it. Used correctly it can be
your most efficient marketing medi-
um. Your goal is to get click-throughs
to your website or landing page - not
to sell, so please remove the cliché
sales speak. It was reported that 97
per cent of emails sent in 2008 were
Richard Hayes
spam - so stop adding to this and
start sending emails people want
to read.
If you're still running your CRM
from Excel or Outlook, it's time to
upgrade. You need a system that
supports total sales efficiency and
accountability. Moreover, you want
your data to be centralised and se-
cure - leads aren't cheap!
In addition to the huge audi-
ence of excellent prospective cli-
ents, the internet offers both con-
venience and cost-effectiveness
that traditional media cannot.
Websites are more engaging and
informative than even the best
brochures. However, Dubai's real
estate sector has more than its fair
share of inaccurate and poorly de-
signed websites. The internet is the
first place more and more home-
buyers are beginning their search
for a home. According to a study
done by the National Association of
Realtors, 71 per cent of homebuy-
ers take their search online. Seeing
how pivotal this supporting sales
medium is and the global appeal of
the Dubai property market, it's time
to shape up!
Real estate sales are now all
about real property, so only real
photos will do. Surveys indicate that
customers are more likely to be in-
terested in and visit homes on the
market that have professional pho-
tography associated with the listing.
And please, stop copying and past-
ing generic property descriptions
from developer's websites and start
writing bespoke copy to give the
customer a real feel for the place.
It's the least you can do if you want
someone to part with a few million
dirhams.
Now that fast internet connec-
tions are becoming the norm it's
safe to stream online video which
is a brilliant way to offer customers
a virtual viewing, saving time for
everyone and pre-qualifying pros-
pects. Additionally the perceived
property value is believed to in-
crease with the use of online video
compared to similar homes without
video.
This may sound obvious but de-
sign your website for your custom-
COMMENTS
ers (website visitors); usability test-
ing should not be an alien concept.
Your search form and entire website
should be simple to use; complexity
adds friction and hurts your bottom-
line. Make design changes based on
testing not feeling. You might think
musical web pages are 'really cool'
but unless there is data to support
how this will increase your conver-
sion rate, forget it.
Even though a relatively new
technology it's worth giving a men-
tion to RSS (Really Simple Syndica-
tion). It's a great alternative an un-
obtrusive communication option,
and a brilliant way to instantly up-
date your customers with property
listings without bombarding them
with email it is quickly becoming
the B2C communication option of
choice.
Produce engaging content for
your website visitors. A real estate
blog is a great way to provide useful
information for your customers, and
a great public forum for questions
to be asked and answered.
Taking photos, planning emails,
DUBAI REAL TIMES
writing descriptions, adding blog
posts and filming online video will
undoubtedly take more time, but
this is the real world now. The cur-
rent challenges ahead can only add
maturity and stability to the Dubai
real estate sector as companies are
forced to act more professionally,
provide better customer service and 17
innovate.
 COMMENTS
Who moved my house?
The UAE property market still moves as fast as lightning. If a homeowner stays in the same
place for a couple of years, they may find themselves one day wondering: “Who moved my
house?” Their home may be exactly the same; however, life around it has changed. Cecilia
Reinaldo, Managing Director of Fine & Country, explains why a long-term view on the master
community is important.
T
he increasing level of trans-
formation in the UAE across
business and infrastructure
has had substantial impacts
on society. Real estate has consis-
tently been the subject leading news
headlines, and never before was
the word 'property' packaged in so
many formats, nor had it competed
so powerfully on the catwalk of in-
vestments.
What's more, just to make sure
that the sector really has made its
mark on today's younger generation,
it is, combined with factors such as
interest rates and oil prices, about
to teach UAE’s 'techno-generation'
a few old golden rules. The validity
of those golden rules is remarkable
if one analyses the success of certain
master communities against others.
The key rule to remember is that
when everyone in an off-plan devel-
opment buys units as a short-term
investment, all the units will come
on the market again –usually at the
same time. This makes it difficult to
make a profit. Furthermore, it is not
the type of investment which you
can sell quickly if you need to use
DUBAI REAL TIMES
your money for something else.
Property owners who bought off
-plan units during the past few years
need to listen to the experts that tell
them that property is a long-term
investment. That is most often the
case in off-plan deals.
Of course, experts who keep
18 saying that all off-plan property is
a long-term investment are not al-
The key rule to
remember is that
when everyone in an
off-plan development
buys units as a short-
term investment, all
the units will come
on the market again
usually at the same
time. This makes it
difficult to make a
profit
ways correct. Factors, such as loca-
tion can have a significant effect
on a community and the property
values, along with hidden mainte-
nance fees, or the possibilities of a
skyscraper appearing right in front
of your building as soon as your
property is ready. In such cases,
home owners need to recognise
the signs and get out sooner rather
than later.
The same certainly cannot be
said of properties in a number
of prime locations across Dubai,
where getting in early would have
seen you multiply your investment
many times over. Locations like
Palm Jumeirah and The Springs are
just two 'pockets' where although
the market is slower, property val-
Cecilia Reinaldo
ues have been sustained.
The moral of the story is to un-
derstand the 'move' in property
pricing and desirability. Either a per-
son should move before the value
of the property shifts up or down,
or the value of the property will in
any case be determined by factors
outside the owner's control.
The latest security lockdown
question in the media due to job
cuts and consequently visa issues
is "Do I stay or do I go?" which has
prompted 'the move action' again.
While many have made the decision
to go, it seems that the one penny
that refuses to drop is the fact that
the value of the property they want
to sell is now not fitting in with the
price that was compiled late last
year. Many who are of the view that
if the community has long-term
benefits of investment they will take
the position of simply not to move;
and some, who are actually looking
at the short-term might find them-
selves asking a year or more from
now, "Who moved my house?"
 COMMENTS

Cementing relationships in a
real estate slump
La Fontana under construction despite slowdown

W
hen a crisis confront-
ed Ashok Galgotia
during his first foray
into real estate, did
not panic. Indeed, the dapper CEO of
Triveni Builders, a Dubai-based prop-
erty developer behind La Fontana,
the Dh80 million, middle-income
residential building, appeared un-
flappable.
Triveni’s six-storey, low-rise devel-
opment in the Arjan Master Commu-
nity in Dubailand was strategically
put on hold for four months last year
Ashok Galgotia
due to no fault on the part of the de-
veloper.
aged passionately and efficiently
and soon became the No. 1 supplier
of packaging machines and materi-
als in the entire Middle East. We pro-
vided a niche service and our cus-
tomers and bankers were happy and
satisfied. Our cash flow was always
positive and we delivered goods and
services with a smile.”
Then in 2003, Triveni ventured
into manufacturing. “People said
‘what are you doing in manufactur-
ing? You’re not a manufacturer.’ We
Triveni Trading Group
Ironically, the unforeseen delay in
corporate office to see two tigers
and the models of planned Dubai
projects such as Universal Studios,
Six Flags, the Tiger Woods Academy
and Mall of Arabia. Impressed with
the vision of Dubai land, I ended up
buying a plot in Arjan. La Fontana
has been my passion since then.”
When Triveni Builders launched
La Fontana, it was sold out within
two weeks. “People said ‘we trust
you’,” waxes Galgotia. “We said ‘don’t
trust us but trust escrow, we have no

Galgotia explains: “We received a
letter eight weeks after our launch
from master developer Mizin, which
revealed their delays to put in perma-
nent power facilities. We launched
La Fontana in February last year
and, by August, we needed to start
construction. We went to the Land
Department and said ‘Here is a letter
from our master developer - saying
we will have no permanent power or
electricity - or water until 2010.”
He explains that these were the
only reasons behind the slight post-
ponement of the project.
“We had an adequate sum of
money – in fact too much money
in our escrow account – at the time.
Our enabling works contractor had
been signed and was ready to start.”
T
construction benefitted prospective  riveni Trading Group was established in 1993 in the UAE as a trading
owners and investors as well as the company. In 1997, the company transformed into a Limited Liability
developer once the local economy Company registered with the Economic Department and the
began to slow. Chamber of Commerce, Sharjah. The company is involved in electrical
“There are three types of con- and mechanical engineering products, particularly plastics and
structions speed: fast mode, medium packaging. It exclusively represents various multinational companies
mode and slow mode,” says Galgotia. from the US, the UK, Italy, Singapore, Taiwan and Hong Kong. Most of
“We had to drop down to slow mode. these companies are leader in their respective fields, and Triveni has
Even now, our 80 investors want their been a pioneer in promoting them in the Middle East. It also owns
payments to be phased out a little industrial and trading enterprises in construction, packaging, and the
more.” health and beauty sectors.
Triveni estimates it will take an-
other 15 months to complete the de-
velopment and two more months for
the utilities to be completed. “We will
be ready when the economy starts
booming again.”
Galgotia is candid about the fact
that trading company Triveni had no
concrete experience in regional real
DUBAI REAL TIMES

Ideally located within close driv- estate prior to launching La Fontana.

ing distance of the Mall of the Emir-
ates, the Gold and Diamond Park
and the Global Village, La Fontana
offers units ranging from Dh 498,600
for studios to Dh1,315,900 for two-
bedroom apartments. For any real
estate project to succeed, the three
most important factors are – loca-
tion, location and location.
“Whatever we do, we do well and
we do it with passion. I am an avid
golfer and when you learn golf, you
take several lessons, but it is not over.
You go away and practise, then take
some more lessons. When I started
Triveni way back in 1993, I was not
from a business family. Unlike any
other trading company, it was man-
were not. But we were going step-
by-step and now the manufacturing
company employs 80 labourers, is
doing well and is a success story.”
The decision to enter the bur-
geoning local real estate scene was
sheer luck. Galgotia explains: “During
December 2006, I went to Tatweer’s
experience and we will learn as we
move ahead step-by-step.’”
Despite all the ups and downs of
2008 and challenges ahead, the de-
veloper is excited at being involved
in the La Fontana project. “It is a small
development, but it is beautiful. It is 19
challenging, but it is fun,” he adds.
 COMMENTS
Flexible rental terms
Improved consumer and investor confidence justifies efforts to reinforce regulations and
create more flexible rental terms
Iseeb Rehman
W
hile new trends in
the property rental
market have emerged
in the wake of the
global economic crunch, analysts
point out that long-term outlook
has remained remarkably vibrant
because of the proactive measures
that have been adopted by both
government-appointed regulators
DUBAI REAL TIMES
and market players. Initiatives such
as the rental index by the Real Estate
Regulatory Agency (RERA) in Dubai
has been described as an important
positive step even as practical deci-
sions by real estate agents to offer
flexible rental options have greatly
helped ease tension and improve
20 consumer and investor confidence
in the market.
“To safeguard a relatively volatile
market amid the global economic
upheaval, the government and
the private sector must move to-
wards the same direction and act
proactively to restore market sta-
bility. Considering that the recent
economic slowdown was highly
unexpected and unprecedented,
I would say that the government
and the key players in the property
sector have responded satisfactorily
and have made justified efforts to
protect the market. As a result, ten-
ants now have a bigger say as far as
the rental market is concerned and I
believe that this is an important step
that will keep speculators at bay and
ultimately help maintain rental val-
ues within reasonable levels,” said
Iseeb Rehman, Managing Director,
Sherwoods Independent Property
Consultants.
“The rental index, in particular,
must be used as an instrument that
will lead to a regulatory framework
“ … tenants now of standardisation of rental plans. In
addition, while the index is certainly
have a bigger say a very encouraging sign of the gov-
as far as the rental ernment’s active involvement in
market is concerned addressing key issues within the
property sector, it must be noted
and I believe that that the rental index needs to be re-
this is an important visited once every quarter, most es-
pecially in this period of transition,”
step that will keep added Rehman.
speculators at With the supply and demand sit-
bay…” uation gradually weighing in on the
equation, Rehman believes that the
Iseeb Rehman impending arrival of new freehold
stocks over the next few months
will see a slew of creative options in
terms of rental values and payment
plans being offered to tenants. The
tenant market will particularly ben-
efit from better payment structure,
which could range from four to 12
cheques a year, subsequently facili-
tating the creation of new niche mar-
kets and helping address the housing
requirements of a wider segment of
society.
Rehman revealed that the effects
of the improving rental values have
been felt through a gradual increase
in demand in areas categorised as
‘New Dubai.’ He further noted that
with fresh supply being introduced
in stages, prices could become even
more attractive and help in energis-
ing the property sector.
Rehman said: “Currently we are
seeing a lot more demand in areas
such as Barsha, Tecom, Jumeirah
Lake Towers, Discovery Gardens and
Dubai Marina, which are categorised
as the New Dubai areas. We have al-
ready seen a significant decrease in
rental values, which could well go
down further given the supply situ-
ation in these areas.”
Total price at auction
to include fees
Sherwoods to organise auction for competitively priced properties in UAE to
stimulate market activity

S
herwoods Independent
Property Consultants will
soon organise an auction
for the public sale of a range
of competitively priced properties
as part of efforts to stimulate mar-
ket activity and open new gateways
for real estate investors to channel
fresh investments into the UAE’s
property sector. Sherwoods further
revealed that it has coordinated
with concerned authorities such
as Dubai’s Real Estate Regulatory
Agency (RERA) and has assembled a
dedicated auction team to assist all
prospective purchasers.
The auction will gather genuine
sellers who are looking for an ef-
fective platform that can generate
the best possible deal from genu-
ine property buyers and investors.
Furthermore, Sherwoods has also
assured prospective buyers that the
selling price during the auction will
be the total amount they will pay for
the property, inclusive of all transfer
fees and sales commission charges.
Jeremy Mayhew-Sanders, Head
of Investments & Developments,
Sherwoods Independent Property
Consultants said: “Sherwoods con-
options, including some where up
to 90 per cent finance is available.
Property viewing sessions will also
be conducted prior to auction to
generate greater sales interest.
The company has pointed out
that one of the main advantages of
holding an auction is that it elimi-
nates the need for time-consuming
offer and counter offer negotiations,
consequently speeding up the sales
process and ensuring prompt pay-
ment and quick handover of the
property. Furthermore, sale by auc-
tion ensures greater marketing expo-
sure and wider advertising coverage
compared to traditional routes.
Jeremy Mayhew-Sanders
Sherwoods Independent Property Consultants
are based in Dubai and currently have three
offices throughout the UAE. They also have
offices in the UK. Their portfolio includes a
full range of client services tailored to meet
the needs of either the one-off individual
purchaser as a residential home or for
investment purposes
DUBAI REAL TIMES

tinues to innovate and create new

opportunities to generate sales
revenue for property sellers, while
providing an excellent opportunity
for buyers from across the region
to get optimum value for their in-
vestments. Auctions act as a good
barometer of the market, serving
as an indicator of where true open
market value lies. It also provides a
high-intensity sales environment
of willing sellers and willing buyers,
which ensures high sales rates.
We believe that investors are
now taking a serious look at new in-
vestment opportunities in the local
real estate market; creating an en-
try-level platform that ensures best-
value prices for properties is surely
an excellent way to further cultivate
investor interest,” he concluded.
Sherwoods has revealed that
a number of the properties to be 21
auctioned off also offer financing
 COMMENTS

Money saving schemes for clients

* This index and prices are the suggestion of landmark. This is not RERA developed approved or endorsed.

C
hanging market dynamics clear money saving opportunities in
in the UAE’s real estate sec- the market and clients should lever-
tor are enabling Dubai’s age this chance to take advantage of
residential renters to up- the time.”
grade their accommodation or find Building owners can also ben-
larger homes at more attractive price efit from this rental flexibility, says
points, said Landmark Properties, Landmark Properties. Landlords can
one of the leading real estate com- secure long-term rentals with guar-
panies in the Middle East. anteed income if both parties are
“What we are seeing now in Dubai mutually satisfied. The company has
is a shift benefitting and protecting also just recently announced their
the rights of the tenant community. Property Management division, of-
Tenants are having an easier time fering landlords direct services to
finding larger units for the same rate maximise freehold returns.
they currently pay, or choosing to The Views
move to more affluent areas. We’re
also seeing many pay their same Leasing rates, March 2009 Apartments
rent, but with an increased number
of cheques,” explained Charles Neil, Project Studio 1 Bed 2 Bed 3 Bed 4 Bed
CEO, Landmark Advisory.
“Landmark Properties’ consul- Palm Jumeirah x 100 - 150 140 - 260 185 - 350 300 - 380
tants are now advising tenants on
how to maximise their rental bud- Dubai Marina 52 - 90 75 - 100 85 - 150 140 - 250 190 - 250
gets through a variety of ways –from
advising on areas where rent is soft- The Greens 55 - 75 80 - 90 120 - 140 170 - 190 200 - 230
ening to helping reduce tenants
commutes by finding properties The Views 70 - 85 80 - 125 150 - 160 175 - 210 x
closer to work. The consultants are
suggesting many ways to get more JLT 50 - 75 65 - 120 80 - 150 130 - 200 x
value for their clients’ given budget”
he added. JBR 75 - 90 100 - 120 130 - 160 170 - 200 210 - 280
Rental property continues to Source: Landmark Advisory
come down in price, as landlords landmark-dubai.com.
look to find stable, securely-em- A studio in Jumeirah Lake Towers
ployed tenants for their properties. that was going for Dh90,000 in the
According to Landmark Advisory, market last year, is now approximate-
the research and analysis division of ly Dh50-55,000 in today’s market.
Landmark Properties, forecasts for Looking at a Grade A one-bedroom
leasing rates are expected to fall 25 apartment in Dubai Marina last year
DUBAI REAL TIMES

per cent on an average for both villas
and apartments from a peak in 2008.
Landmark Advisory published
leasing price maps in March to guide
tenant’s on approximately what
they should be paying for rent in
certain areas. These maps are acces-
sible both on their website, www.
22 landmark-advisory.com, as well as
Landmark Properties website, www.
was about Dh150, 000, while today
that same unit is going for around
Dh100, 000. “We urge our clients to
reference these maps as we have
rates for both apartments and villas
on our site,” added Neil. “Tenants
have greater freedom of choice and
negotiating power than previously
experienced in this market over the
last three to four years. There are The Walk, Jumeirah Beach Residences (JBR)
 Sales price index, drawn up by
Landmark Advisory last month,
shows the average cost of an apart-
ment in some locations has dropped
by up to 32 per cent in the past year.
It shows that for a medium-range
quality one-bedroom Marina apart-
ment prices have fallen 32 per cent
from Dh1,696 per square feet to
Dh1,172 per square feet in the last
12 months. Meanwhile, the cost of a
townhouse at The Springs has fallen
23 per cent from Dh1,100 per square
feet to Dh851 per square feet.
A new guide will be issued
monthly so that accurately portrays
the market, Landmark has said.
“Prices in our sales map are tak-
en from actual transactional data
sampled at the end of Q109 trans-
actions,” said Charles Neil, CEO of
the firm. “There has been a high
demand for this information from
our clients and investors, and we’re
on track to frequently produce these
maps to empower clients with the
knowledge to make sound property
decisions in this market.

APARTMENTS (AED/sq.ft)
Areas Studio One B/R Two B/R Three B/R Four B/R
Discovery Gardens 650-850 600-850 - - -
Downtown Burj Dubai 1200-2800 1100-2800 1050-2800 1500-2800 4300-600
Dubai International 1400-1800 1400-1800 1400-1800 1400-1800 1400-1800
Financial Centre
Dubai Marina 850-1450 850-1400 850-1450 850-1450 850-1500
Dubai Silicon Oasis 700-950 650-900 665-950 700-950 -
Dubai Sports City 750-900 750-900 750-900 750-900 750-900
Emirates Living* 1100-1300 950-1300 950-1300 900-1300 900-1300
Green Community 900-1000 850-1000 850-950 600-850 -
International City 550-770 500-750 500-750 - -
Jumeirah Beach Residence 1175-1300 950-1300 850-1300 850-1300 850-1300
Jumeirah Lakes Towers 750-1100 730-1100 700-1000 800-1000 -
Motor City 650-850 650-850 625-800 575-800 -
Palm Jumeirah - 750-1450 750-1450 750-1450 850-1450
TECOM 900-1300 900-1300 850-1100 850-1100 850-1100 850-1100
* Emirates Living includes The Meadows, Emirates Hills, The Lakes, The Springs, The Greens and The Views

Villas (AED/sq.ft)
Areas Three B/R Four B/R Five B/R Six B/R
Arabian Ranches 775-1500 775-1500 775-1500 -
Downtown Burj Dubai - 960-3700 960-3700 960-3700
Dubai Marina - 900-1300 900-1300 900-1300
Dubai Sports City 750-1000 750-1000 750-1000 -
Emirates Living* - 660-1500 660-1500 660-1500
Green Community 560-700 550-700 475-600 575-650
Jumeirah Islands - 700-1100 700-1100 700-1100 -
Motor City 750-850 750-900 750-900 -
Palm Jumeirah - 1100-1500 1100-1800 1100-1800
* Emirates Living includes The Meadows, Emirates Hills, The Lakes, The Springs, The Greens and The Views

COMMERCIAL (AED/sq.ft)
Areas Average
DUBAI REAL TIMES

Downtown Burj Dubai 1800-3000

Dubai International Financial Centre 1800-2200
Dubai Marina 1600-2000
Dubai Silicon Oasis 700-1450
Dubai Sports City 800-850
International City 450-950
Jumeirah Lakes Towers 650-850
Motor City 690-850 23
TECOM 1100-2100
 COMMENTS
Bridging the landlord-tenant divide
T
he infamous mortgage cri-
sis has influenced a greater
strain in landlord-tenant re-
lations. While landlords have
to constantly contend with logistics,
legalities, viability and upkeep, ten-
ants tenaciously clamour for more
value from their hard-earned rent
money. It has become increasingly
difficult to create a middle ground
that can diffuse the tensions that of-
ten arise between these two sides of
the fence.
Property management services
are emerging as the perfect balm
for conflicts between landlords and
tenants amidst today’s challenging
market conditions. A property man-
agement service is the operation of
commercial, industrial or residential
real estate on behalf of the prop-
erty owner or manager. One of its
key functions is to provide a liaison
between the landlord and/or the
management firm operating the
property on the landlord’s behalf
and the tenant.
“The nature of today’s real estate
market has changed immensely.
Landlords are more pressured to
maintain the attractiveness of their
properties, while tenants want maxi-
mum value for their payments.
Property management services have
become increasingly attractive since
they offer various mechanisms for
attending to the needs of both par-
ties,” said Dr. Sobhi Agha, GM, The
Real Estate Specialists.
By acquiring property manage-
DUBAI REAL TIMES
ment services, landlords avoid the
hassles of constantly and personally
addressing tenant issues, especially
those that are minor and easily re-
solvable. These services also help
enhance tenant confidence, since
the response time for problems
such as maintenance becomes mini-
24 mal. Ultimately, the perceived value
of the property increases due to the
Dr. Sobhi Agha, GM, The
Real Estate Specialists
Landlords are more
pressured to maintain
the attractiveness
of their properties,
while tenants want
maximum value for
their payments
professional dimension added by a
property management service firm.
Complete real estate solutions
providers such as this company offer
a comprehensive range of property
management services that meet
the varied needs of landlords and
property managers while consid-
ering the changing needs of the
market. Assistance on areas such as
contract preparation, cheque collec-
tion, inspections, tenant liaison, con-
tact with maintenance personnel,
reporting, and banking ensure that
both the property and its tenants re-
ceive the professional attention that
only experienced and competent
firms can provide.
Given today’s evolving property
landscape, property management
services have indeed emerged as
mutually respected bridges be-
tween the contrasting interests of
landlords and tenants.
The Specialists, which has more
than 20 years experience in the
Gulf region, has been appointed by
Alserkal Properties and Manazel to
provide sales, leasing and property
management services for buildings
within the Dh400 million Dunes Vil-
lage development located in Dubai
Investments Park (DIP).
Dr. Sobhi Suleiman Agha said:
“Our appointment is the perfect
opportunity to launch our latest
marketing strategy leveraging the
prevailing competitive prices of sell-
ing and renting both commercial
and residential real estate. Taking
advantage of improving commercial
and housing rates, we have devised
flexible propositions to suit all our
client requirements, offering them
both affordable and profitable real
estate solutions. For example, ex-
isting businesses in Dubai Invest-
ments Park can buy or rent from
individual apartments to whole
buildings on-site to accommodate
their middle management housing
needs at best-value prices. For small
or emerging companies wishing to
set up a business in Dubai, we can
offer a selection of serviced offices
in nearby Jebel Ali Free Zone with
affordable long term and short-term
rental packages in furnished apart-
ments in Dunes Village.”
Scheduled for handover between
April and June 2009, the Dunes Vil-
lage development is a modern,
gated apartment complex compris-
ing 19 uniquely designed residential
buildings complete with a full range
of value-added facilities such as a
swimming pool, gym, Jacuzzi, land-
scaped gardens, mosque, shops,
cafes and restaurants, clinic and
pharmacy. It will house 1,000 spa-
cious studio, one and two-bedroom
apartments with balconies, which
are all competitively priced and of-
fer more affordable service charges
compared to other developments in
and around the area.
Mohamed El Sabbagh, Managing
Director, The Specialists, said: “Our
aim is to consistently provide our
clients with the best-value property
packages, whether they are rent-
ing, buying or looking for secure
property management. We are fully
committed to protecting the interest
of all owners and tenants by deliver-
ing maintenance and management
services that focus on enhancing
the long-term sustainability of the
Dunes Village development.”
The Dunes Village development
benefits from its close proximity to
key destinations in Dubai, including
major road networks such as Emir-
ates Road, Al Khail Road and Sheikh
Zayed Road. It also sits right next
to the popular Green Community
& Green Community West develop-
ments and nearby Jebel Ali. Dunes
Village is also ideally located within
easy access of the UAE’s capital city
Abu Dhabi, which is less than 45 min-
utes away.

Ginco sets construction benchmark
with ISO certification
G
inco General Contracting
LLC, one of the country’s larg-
est construction companies,
has been awarded ISO9001:2008
certification, an internationally ac-
cepted quality management certi-
fication system, following a lengthy
and rigorous assessment process by
IMS Certification FZE (IMS).
The in-depth ISO assessment
probed the Dubai-based company’s
key processes including customer
relationship, supplier and project
management, and business devel-
opment. The scope of Ginco’s certi-
fication covers general contracting,
construction and civil engineering.
Ginco General Manager, Jamal
Abdul Fatah, added: “We are also
committed to bringing the safety
standards of all our sites in line with
international regulations and are in
the process of upgrading all sites to
comply with the OHSAS18001 inter-
national standard.”
ISO 9001 is the most widely rec-
ognised quality benchmarks across
the world; it is globally recognised
as a powerful tool for businesses to
improve organisational efficiency
DEWA: A strategy for Success
Balanced Scorecard helps DEWA move from a relatively short-term planning framework to a
more focused long-term strategic framework
P
alladium Group, Inc., a profes-
sional services firm, has re-
cently named Dubai Electricity
and Water Authority (DEWA) to the
Balanced Scorecard Hall of Fame for
Executing Strategy. This is for achiev-
ing an execution premium using the
Balanced Scorecard (BSC), the first or-
ganisation from the Middle East to be
inducted into the BSC Hall of Fame.
Launched in 2000, the BSC Hall of
Fame Programme publicly honours
and productivity while remaining
cost-effective. In all instances where
activities are critical to meeting cus-
tomer requirements and enhancing
customer satisfaction, ISO certifica-
tion commits the organisation to
ensure fulfilment.
In its assessment of Ginco, IMS
found that the company met and
exceeded expectations in all ISO
certification requirements. The
results showed that the com-
pany’s Quality Management Sys-
tem   (QMS), which comprises its
organisations that successfully use
BSC to achieve and sustain perfor-
mance results. The 106 organisations
inducted to date represent a broad
cross-section of private- and public-
sector industries from more than 19
countries across the globe.
DEWA, which provides electric-
ity and water to nearly 800,000 cus-
tomer accounts in the emirate, is one
of the largest government agencies
in Dubai, with an annual operating
policies, processes and procedures,
is in accordance with key principles
of IMS Certification, some of which
include customer focus, leadership,
involvement of people, process
approach and ongoing quality im-
provement.
Ashwin Varma, Regional Man-
ager of IMS Certification FZE rep-
resenting the ISO certifying body,
said that during its analysis IMS
looked into the policies, processes
and procedures of Ginco and found
that the company was implement-
budget of US$3 billion and a 2008
capital budget of nearly $10 billion.
Considered, one of the best-run
agencies in Dubai, DEWA is ranked
number one in customer e-service by
the government.
Faced with unrelenting pressure
to keep pace with Dubai’s impressive
expansion, DEWA started using the
Balanced Scorecard in 2001 to create
a focus on their strategy in addition
to monitoring and controling the per-
ACHIEVEMENTS
ing its QMS in each department,
across every project.
“We found that the company is
setting a benchmark for its peers in
the region’s construction industry.
With its practical procedures and
QMS, we found the company to be
in line with international standards
and advised on ways to ensure its
ability to constantly apply quality
standards on future projects.”
Ginco is a Limited Liability Com-
pany incorporated in 1976, which
has built itself to become a major
presence in the United Arab Emir-
ates’ construction sector by work-
ing for top property developers in
the region. The company, operating
out of three branches – Abu Dhabi,
Al Ain and its headquarters in Dubai
– employs over 3,400 people. It was
awarded the ‘Unlimited Category’
within construction, allowing it to
take on projects that could have any
number of floors. Its customer base
includes some of the best known
names in Dubai including Dubai
Properties, Dubai Municipality and
Emaar; it also caters to individual in-
vestors and property developers.
formance. In this, four perspectives
are identified-Financial, Customer,
DUBAI REAL TIMES
Internal Processes and Learning and
Growth.
“Our top management team were
in a continuous search for a holis-
tic approach that could reduce the
channels of communications and en-
sure that areas for improvement are
well identified,” said H.E. Saeed Mo-
hamed Ahmad Al Tayer, MD & CEO of 25
DEWA.
 “We have implemented more
than five approaches for perfor-
mance management all of which
were successful. Yet we needed a set
of goals that would be meaningful
to all employees, improve customer-
facing performance and decrease
the time needed to take decisions.”
The Balanced Scorecard is a stra-
tegic planning and management
system that is used extensively
in business and industry, govern-
ment, and non-profit organisations
worldwide to align business ac-
tivities to the vision and strategy of
the organisation, improve internal
and external communications, and
monitor organisation performance
against strategic goals. It was start-
ed by Drs. Robert Kaplan (Harvard
Development milestones for four
Kempinski projects
Kempinski Residences, Palm Jumeirah
P
oznyakizhilstroy Corpora-
tion, the developer behind
hotel, residential and mixed
use projects in Eastern Europe and
Dubai, has announced a series of
important milestones for its four
Kempinski hotel development proj-
ects. Poznyakizhilstroy, Ukraine’s
leading real estate development
and investment company, made a
series of progress announcements
regarding the prestigious projects
during its first appearance at the
DUBAI REAL TIMES
MIPIM real estate exhibition in
Cannes (March 10t,13th) and the
Ukraine Investment Summit in
London (March 9,12th).
The company operates in Dubai
as Emerald Palace Group, which
owns and develops its projects in
the UAE.
26 The Kempinski Palm Residence
and Hotel, on Palm Jumeirah in
Business School) and Dr David Nor-
ton as a performance measurement
framework that added strategic non-
financial performance measures to
traditional financial metrics to give
managers and executives a more
‘balanced’ view of organisational
performance.  “We believe that a good strategy
DEWA has been using the Bal-
anced Scorecard for eight years now
and the benefits are apparent to top
management as well as employees.
“The Balanced Scorecard has
moved DEWA from the relatively
short-term planning framework to
a more focused long-term strategic
framework,” added Al Tayer. “Now
there is a widespread alignment and
focus on our strategic objectives. It
has also led to more improved trans-
Dubai, is currently under construc-
tion and the company confirmed
it is on track for completion of the
Residences by the end of 2009 and
of the Hotel during 2010. The Resi-
dences have been one of the most
successful projects in the UAE, with
the some of the highest prices
achieved for property on The Palm
Jumeirah.  The 202 properties sold
to date included 190 apartments
sold at an average price of $2.3 mil-
lion, with penthouse apartments
selling for an average of $6 million
and the grand villas reaching an av-
erage of $10 million. The Emerald
Palace Corporation confirmed that
despite the global financial situa-
tion, no Residences buyers have
cancelled and all buyers have paid
all instalments.
The company also said that its
other two projects in Dubai, the
parency and accountability than
before.”
In the current global financial tur-
moil, the big question is: can a good
strategy combat the current global
slump? H.E. Saeed Mohamed Ah-
mad Al Tayer believes so.
can help organisations in handling
and absorbing the ripples in the
economy by re-visiting and re-strat-
egising objectives at the right time
and therefore, keeping the challeng-
es in foresight.”
According to Al Tayer, the current
global financial crisis presents an op-
portunity as well as a challenge for
many organisations in the region.
“The current crisis should allow
top organisations to pause and re-
• Kempinski Palm Residence on schedule for 2009
delivery of first phase
• Kempinksi Business Bay and Kempinski Palm Jebel Ali
to start construction in 2009
• Kempinksi Plaza Kiev designs completed
Kempinski Business Bay and the
Kempinski Jebel Ali, will start
construction in early 2010, as
planned.  as the market picks up again.
Poznyakizhilstroy also an-
nounced that the designs have
been completed for its new
Kempinski Plaza Kiev develop-
ment, and this will be complete in
time for the 2012 UEFA European
Championships.
Artur Mkhitaryan, President
of Poznyakizhilstroy Corporation,
said: “As the leading private de-
velopers in Ukraine, with strong
cash reserves and no gearing, we
have been well-placed to insulate
our projects from the effects of
the global liquidity crisis and are
in a very strong position to con-
clude them. That means we are
able to press ahead in 2009, at a
time when many developers are
think about their operational efficien-
cies and translate them into long-
term strategic initiatives. In DEWA, we
focus on achieving greater process
efficiencies by picking the right lead
indicators and bolstering them with
right strategic initiatives.”
Asked if he thinks strategy is more
important than leadership in driving
business success, Al Tayer said that
business success should be a combi-
nation of the two.
“Leadership and strategy must go
hand in hand. Leaders challenge the
status quo and use creativity and im-
mense experience to anticipate the
challenges by defining good strate-
gies. A successful strategy means hav-
ing a great leadership model already
embedded,” he explained.
slowing work on their major proj-
ects.  I think this will see us strong-
ly positioned in 2010 and beyond,
A key factor in pushing ahead
has been our exclusive agree-
ments with Kempinski Hotels, to
develop these four projects.  The
Kempinski brand is incredibly
strong and will be a real attraction
on the Palm Islands, on Business
Bay, and in Kiev.
Having completed and handed
over more than one million square
metres, our company provides for
a fully integrated development
cycle - from land purchase, market
assessment, feasibility study, proj-
ect management, construction
and  sales, and various services,
including financial support from
our own construction and devel-
opment bank.”

Ras Al Khor development to realise 1,732 leasehold residential units
Project scheduled
for delivery
between April
and September
2009 as part of
transformation
of Ras Al Khor
district
w
asl, the asset management
group owned by Dubai
Real Estate Corporation
(DREC), has announced that work
is progressing as scheduled on the
Dh645 million Ras Al Khor project
that will bring on line 1,732 lease-
hold residential units to meet the
anticipated market demand.
This will mark the transition
of the historically industrial na-
ture of the Ras Al Khor area into a
residential community in the long
term. The project will have a total
built up area of 2.4 million square
feet featuring 1,288 two-bedroom
apartments and 444 one-bedroom
units. Handover is scheduled to
take place in phases between April
and September 2009.
Hesham Al Qassim, CEO of wasl
and Dubai Real Estate Corporation,
said: “Our primary objective is to im-
prove the status of various districts
around the emirate and give them
a pivotal role to help sustain Dubai’s
economic development.”
wasl currently owns approxi-
wasl to add
1,500-plus units
to residential
leasing portfolio
Hesham Al Qassim
wasl, an asset management group, was established
by Dubai Real Estate Corporation (DREC) to manage
its operations in property management, hospitality,
investment and project management, covering
Residential, commercial, retail, light-Industrial,
public utilities, educational Institutions, leisure and
Entertainment sectors. The company pursues a
vision ‘to value and be valued by our stakeholders’.
It aims to achieve this by creating a legacy of trust
and respect by acting responsibly and as a platform
for innovation in asset management
Amenities at Ras Al Khor development
mately 15,000 residential units in
different localities around Dubai.
Its Property Management division
consistently monitors trends in the
leasing sector, both in the com-
mercial as well as in the residential
space.
Al Qassim added: “The leasing
sector’s long-term outlook is set to
turn positive in line with many gov-
ernment initiatives including the
floatation of the $20-billion bond
by the Dubai Government to stim-
ulate the economy. We believe our
track record over 30 years will allow
us to take a leading role in target-
ing specific and specialised urban
development and re-development
projects.”
Delivering community-focused,
lifestyle facilities, the Ras Al Khor
project will include a mosque, a
supermarket and retail outlets, in
addition to well-equipped recre-
ation facilities. In the first phase of
the residential development, six
buildings are scheduled to be com-
pleted, with an additional thirteen
buildings to be added in Phase-2
and Phase-3.
The project is conveniently lo-
cated in proximity to the Dubai-
Hatta Highway, offering residents
an easy link to the major arterial
road network.
DUBAI REAL TIMES
The asset management com-
pany’s current sphere of operations
includes the management of 5,000
industrial land plots and 20,000
leased commercial and residential
units around Dubai. wasl’s portfolio
includes property management,
leisure and entertainment, hospi-
tality, project management, and 27
industrial land development.
 IN FOCUS

Keeping up with trends

When the going gets tough, the tough get going – by coming up with ideas to keep
their businesses afloat. This is being proved by the innovative ideas and ‘I won’t be
beaten’ attitude that is springing up within the property sector, from financing to revising
construction plans to interior decoration, and more
BurJuman has recently completed place ranking for RTA’s Dubai Award
the construction of a 34,000 square for Sustainable Transport early this
foot of retail and restaurant space, year.
which includes a redesigned exte- With the current expansion, the
rior façade and direct main entrance mall’s current 2.8 million square
from Khalid bin Al Walid Street feet has increased to provide even
(Bank Street). The new space cur- more diverse shopping and dining
rently has ten retailers, with Unicare choices, with more than 300 leading
Medical Centre scheduled to open fashion outlets, including Saks 5th
in the next few months along with Avenue, plus a wide selection of res-
other tenants by the end of the year. taurants, cafés and a food court.
The expansion is expected to fully Nakheel, master developer and
complement the existing offer there leader in sustainable development,
through a combination of value- has attracted the attention of lo-
added and quality stores in the new cal and international universities
wing. The company has shifted many - in the first three months of 2009
of its existing retailers to the expan- man from the Dubai Metro station, customers from the surrounding alone, Nakheel hosted 27 university
sion to diversify its offer throughout scheduled to open in September neighbourhoods to walk to BurJu- delegations from across the globe.
the mall to provide customers with 2009. Additionally, the new dedicat- man rather than drive, an initiative This puts them on track to meet
a wider range of services. The new ed entrance is aimed at encouraging that earned BurJuman the second with staff and students at 100 edu-
wing can also be accessed from in-
Centre to right: Marwan Al Qamzi, Executive Managing Director, Nakheel Southern Projects and Lars Christensen,
side Paris Gallery, one of BurJuman’s Associate Professor B.Sc Arch.Eng., Engineering College of Aarhus, Denmark
flagship retailers.
Currently, the tenants in the new
extension are digital and mobility
service providers Cellucom, book
store Al Jabre Al Elmiah, Little Things
souvenirs shop, Aldo Accessories,
Just Optic, Al Ghurair Exchange, cof-
DUBAI REAL TIMES

fee house Dome Café and fashion

brands Hang Ten, Cerutti, and Man-
zari Furs. Scheduled to open later
in the year are Lebanese restaurant
Fairooziyat, men’s French fashion
label Marco Serussi Camicia, and an
expanded branch for Emirates Na-
tional Bank of Dubai.
28 The ground-level expansion will
also allow for direct access to BurJu-
 and the Defence Minister of UAE
and the Chairman of DEWA, and un-
der the instructions of H.H. Sheikh
Hamdan Bin Rashid Al Maktoum,
Deputy Ruler of Dubai, and Minister
of Finance & Industry – sponsor of
this exhibition, as it is considered a
new edition to the commercial and
economic activities, organized and
adopted by Dubai. It also assures
the endless distinction of Dubai,
being a constantly growing and
modernisation centre in this bench-
marking area of the globe.”
The environmental impact of
buildings has become a major pri-
Nakheel welcomed Sellapan Ramanathan, President of Singapore, for a VIP
tour of Palm Jumeirah. (Left to right): Zainul Abdin Rasheed, Senior Minister
of State for Foreign Affairs, Singapore; Marwan Al Qamzi, Managing Director,
Nakheel Southern Projects; Sultan Bin Sulayem, Chairman Dubai World;
Sellapan Ramanathan, President of Singapore and the Singaporean First Lady
vast contribution of ministries, gov-
ernment departments and organi-
zations, municipalities, national and
international establishments, and
public benefit associations related
to the issues of water, energy and
environment preservation, has ex-
ceeded our expectations, as more
than 400 participants from Arab and
international companies and estab-
lishments belonging to 23 countries
from various continents have con-
tributed to the WETEX ’09.
The exhibition also included six
major stands from USA, EU, Italy,
China, Korea and Taiwan.

cational institutions over the course
of the year.
 This news follows a visit from 30
students from the Engineering Col-
lege of Aarhus, Denmark recently.  bition focused on its commitment
The students received a presenta-
tion from senior management at
Nakheel’s Waterfront and Palm Jebel
Ali projects, including Marwan Al
Qamzi, Executive Managing Director,
Nakheel Southern Projects.  Topics
ranging from engineering to urban
planning and land reclamation to
architecture were presented.  
  Marwan Al Qamzi comments:
“It’s a great way to share our exper-
tise with tomorrow’s developers
and enhance our relationships with
other international organisations. So
many people want to witness the
amazing development in Dubai and
Nakheel’s iconic projects are part of
what makes this emirate so unique.
We have hosted 27 universities from
USA, Asia and Europe, as well as lo-
cal universities, in this year alone,
with more than 2000 students com-
ing through our doors since March
2008.”
  Some of the world’s best uni-
Water Technologies, Energy and En-
vironment Exhibition 2009 (WETEX
2009) in its 11th edition, which was
held at the end of March. The exhi-
to adhere to the highest principles
of preserving the environment, and
introduced them to a large number
of participants and visitors of the
exhibition, while also giving them
an opportunity to discuss the latest
developments in the power indus-
Saeed Mohammed Al Tayer
Mr. Al Tayer also stated that, “the
huge participation in WETEX 2009,
in the midst of the present interna-
DEWA hosted the WETEX Conference to assist tional financial crisis, is an evidence
top management executives in the water, energy that Dubai was, is and continues
and environment sectors to meet experts of to be the best destination for eco-
nomic and commercial activities,
renewable industries to discuss the main issues, representing a distinguished busi-
including green buildings and technologies that ness hub in the region.”
On the occasion of the exhibi-
are friendly to the environment and energy tion, DEWA announced its new
logo which expresses the new strat-
egy and identity adopted by DEWA
try, with major regional and inter- ority in the Middle East, and it was since the beginning of this year.
national companies participating necessary to seek sustainable and Mr. Al Tayer further added, “after
in the conference held alongside friendly solutions. In this context, 50 glorious years, DEWA is still full
DUBAI REAL TIMES

versities, including UCLA, Harvard,
London South Bank and New York
University, have received VIP presen-
tations and site visits from some of
Nakheel’s senior management in the
last three months.
 Dubai Electricity & Water Author-
ity (DEWA) signed a number of con-
tracts for major projects in different
fields during the activities of the
WETEX 2009.
H.E. Saeed Mohammed Al Tayer,
MD & CEO of DEWA, in his speech
at a press conference, stated that,
“WETEX 2009 has proved to be a
distinguished terminal in the se-
ries of major exhibitions hosted by
Dubai, under the directions of H.H.
Sheikh Mohammed Bin Rashid Al
Maktoum, Crown Prince of Dubai,
DEWA hosted the WETEX Confer-
ence to assist top management
executives in the water, energy and
environment sectors in meeting
experts of renewable industries for
discussing the main issues, includ-
ing green buildings and technolo-
gies that are friendly to the envi-
ronment and energy.
H.E. Al Tayer, added that “the
of youth, aspiring to continuously
renovate and develop its strategies,
and excell and shine in its endea-
vours. Our new logo represents a
new era, representing high deter-
mination, confidence and belief.”
Entrance to the exhibition was
free, aimed at attracting and en-
hancing public awareness to its sig- 29
nificance and theme.
 DUBAI FOCUS

A multitude of
activities
Whether it’s good times or bad times, life goes on.
Some fail and have to adjust to doing something
completely different; some make changes in an
effort to carry on; and others keep their fingers
crossed with every small successful business deal
they do. Those that are carrying on in some form or
the other are slowly working their way through the
span of time. Some buildings are still being built and
owners are receiving keys to their doors, innovative
ways of buying and selling are being received with a
smile, fun festivals are organised for societies to get
to know each other. Life is going on …
Madison Residency

D
eyaar Development
PJSC will hand over all
residential units at Madi-
son Residency to home
owners on May 16, 2009. The com-
pany organised an orientation pro-
gramme to advise all home owners
on the handover process ahead of
the scheduled delivery; it was aimed
at updating customers with the final
documentation procedure for their
respective properties as well as pre-
DUBAI REAL TIMES
vice excellence. The project is the
latest in the line of high-quality proj-
ects completed by the company in
the past few years, and will be the
first of seven buildings projected to
be handed over in 2009.
Located at the Technology, E-
Commerce and Media (TECOM)
free zone, along Sheikh Zayed Road,
Madison Residency comprises 161
luxurious studio apartments, 52
one-bedroom and 99 two-bed-
two-week cultural and retail festival
is taking place at Emaar Boulevard
in Downtown Burj Dubai. Featur-
ing 41 pavilions, the festival show-
cases a diverse array of products
from close to 20 countries and will
is being held until May 2, 2009 from
4pm to midnight on weekends. The
festival has products, artifacts and
general paraphernalia from coun-
tries panning Africa, Europe, India,
China, Korea, Pakistan, the Philip-
pines, Singapore, Thailand, Tunisia,
Vietnam, UAE and several countries
in the Middle East as well as cultural
programmes and entertainment.
Indigenously hand-crafted or
imported exclusively for the festival,

senting the 2009 building operating room apartments. The tower is

budget and facilities management
contract. Additionally an explanation
of the building systems, amenities
and personnel was given.
The customer orientation pro-
gramme and scheduled handover of
the 26-storey residential tower contin-
30 ues Deyaar's track record and strong
commitment towards customer ser-
well-equipped with state-of-the-art
amenities, including a health club,
swimming pool, roof garden, under-
ground parking, high-end security
systems and access to extensive re-
tail facilities, and an impressive stone
entrance and lobby area.
Celebrating the cultural diversity
of the city, International Village, a
Downturn Burj Dubai
most products are unique in design,
adding to their exclusivity. While
there will be plenty of products to
choose from, the boulevard will also
be dotted with a mix of food and
beverage tents and will be further
enlivened with music and dance
performances, all designed to cre-
ate a family fun and carnival atmo-
sphere.
International Village follows the
success of the first Burj Dubai Classic
Car Show and the recent Renault F1
Roadshow both of which attracted
thousands of visitors to Downtown
Burj Dubai. This two-week festival is
set in close proximity to The Dubai
Mall, one of the world’s largest shop-
ping and entertainment destina-
tions, and The Dubai Fountain, the
world’s tallest performing fountain
that is currently being tested.
Madania Real Estate has launched
a property auction programme that
aims to become a benchmark for
innovation follows the introduction
of the increasingly popular deferred
payment plan which helps its clients
rent-to-buy properties in Dubai.
Speaking at the launch of the
new programme Raymond Kuceli,
Chief executive officer, Madania Real
Estate said: “As the downturn in the
global economy impacts the real
estate sector in Dubai we continue
to see negative sentiment affecting
the behaviour of vendors and buy-
ers. As a consequence, the level of
transaction activities is significantly
reduced as both vendors and buy-
Meydan
ers struggle to determine a true
value for a given property. Our new programme is a three phase process If the property is not sold, in the
programme helps vendors and buy- with a 60 day duration. The process third phase all the information gath-
ers find a true market price, acting as begins with a vendor signing up ex- ered during the first and second
a catalyst for transaction activities, clusively with Madania in order to sell phase will be used to generate a
as well as an indicator for industry a property. Properties must meet buyer. However, Madania Real Estate
investors. As a company we aim to with the Land Department’s require- is confident that most vendors will
pioneer innovative solutions to mar- ments. Once all conditions have find a buyer for their property during
ket problems and believe that this been settled, a four week aggressive the first two phases of the process.
programme will set the standard marketing campaign begins during Meydan, the developer of the
which the property is advertised world’s largest equine develop-
to attract cash buyers ready to pur- ment, participated for the second
chase. The buyers are free to bring year at the recent Careers Fair by

“As a company we aim to pioneer innovative

solutions to market problems and believe that
this programme will set the standard for this
type of sales method as the market takes its
next steps in the maturing process”

in consultants such as surveyors showcasing a model of its landmark

Raymond Kuceli
the auctioneering sales method in
the UAE. The programme facilitates
real estate sales between vendors
and buyers in a highly transparent
manner that ensures the price paid
is a true reflection of the property’s
market value. The first event is due
for this type of sales method as the
market takes its next steps in the
maturing process.”
A subsidiary of Al Tamimi Invest-
ments, Madania Real Estate is led by
Chief Executive Officer Raymond
Kuceli, a real estate professional
to inspect the property, in order to
judge the property on its merits and
decide if and at what price they wish
to make an offer. If a buyer wishes to
make a cash offer during phase one
they will be considered.
The second phase is the property
auction event itself, managed by the
auctioneer. Buyers gather at the
racecourse. Thousands of students
visited the Meydan booth at the
Dubai World Trade Centre where
they had a presentation on the new
racecourse which will feature a five
star trackside hotel, an Imax Theatre,
Meydan Museum and Gallery, a car
park with a capacity of 10,000 vehi-
cles and a grandstand with a capac-
DUBAI REAL TIMES

to take place on 19th May 2009 and
its results will be a powerful and in-
sightful indicator into how the Dubai
real estate market is performing.
The new programme reinforces
Madania Real Estate’s reputation as a
market innovator, able to bring tried
and tested techniques and expertise
from other markets around the world
to the Emirate. The company’s latest
with over 20 years expertise and a
licensed auctioneer.
The auctioneering sales method
is commonly used for a wide vari-
ety of items including race horses,
livestock and automobiles, and has
even become a huge success online
with the creation of companies such
as eBay.
The Madania property auction
event, there is no fee to attend, and
bid competitively against each other
for the property. If the vendor’s re-
serve price is met or exceeded the
property will be sold. Representa-
tives of the Land Department will
also be present and buyers must pay
a 20 per cent deposit upon the ac-
ceptance of a winning bid, with the
balance paid two weeks later.
ity of 60,000. 
The ergonomically designed
stand also had several other inter-
active facilities allowing students to
post their curriculum vitae’s.
The purpose of Meydan’s group
participation was to furnish the stu-
dents with in-depth information on
its various business units including 31
the Dubai Racing Club, Emirates

The Walk
Racing Authority, Zabeel  Feedmill
and Meydan City.  The exhibition
event also provided a platform for
the students to be introduced to the
New Meydan Landmark racecourse
development which will host the
2010 Dubai World Cup.
  Presentations were made by
senior managers and executives
of the group, explaining the work-
ings and operations of the various
departments and the opportunities
available for new joiners. The offi-
cials and students attending the fair
lauded Meydan for its participation,
stating that it provided students the
opportunity to know more about
the corporate world and how they
could contribute their quota to the
development of the country.
A total of 118 stores and restau-
rants are now up and running on
the plaza level, above ground at The
Walk, Dubai’s first and only outdoor
retail avenue by the sea in Jumei-
rah Beach Residence. The plaza
level currently hosts a spectrum of
outlets in food and beverage, home
furnishing, décor and art galleries,
men, women and children’s apparel,
fashion and accessories, health and
cosmetics, jewellery, culture, leisure
and sports, as well as supermarkets.
Savile Row, Saks 5th Avenue- The
men’s store, Zadig & Voltaire, Aiyanna
of London, du, Ruby Tuesday, Haru,
Mothercare , Emirates Islamic Bank,
Feet First, Crossover Bollywood, and
The Holiday Lounge are some of the
DUBAI REAL TIMES
names that have a presence at the
first level plaza.
The Walk, which was launched in
August 2008, boasts a total of 200
fashion, furniture and lifestyle stores,
with a further 105 to be opened in
the next few months to serve JBR
residents as well as the entire marina
32 district.
The Walk is gaining increasing
footfall from residents of JBR, the
surrounding hotels, the Marina
precinct, as well as from Jumeirah.
Most customers go there seeking
an avenue to spend leisurely after-
noons or stroll around the shops
discovering new things to do. More
and more outlets have opened up
on the plaza level adding to visitors’
experiences, especially those with
an adventurous streak eager to ex-
plore the spectrum of options that
are waiting to be discovered.
The Walk is also set to unveil a
series of spas and beach clubs, ac-
centuating its round the year beach
resort offering.
Dubai Municipality held a
meeting with Dubai Civil Defence
Department recently on improv-
ing and simplifying the procedures
between the two in order to pro-
vide excellent advanced services
and facilitate the work procedures
under one roof. During the discus-
sion both sides addressed the issue
of improving procedures regarding
building permits and ways to devel-
op procedures and opportunities
for improvement in this area.
Mariam Al Hammadi, Director of
Corporate Excellence Department
said the meeting was organized
following a directive of the Council
of Ministers and the Dubai Execu-
tive Council to work towards giv-
ing more care in the development
of work and procedures among
government establishments and
departments in a way that achieves
the ideal environment for invest-
ment and customer service so as to
provide services simply and clearly
to the customers. She added that
the meeting also comes in parallel
with the directives of the govern-
ment based on the report of the
World Bank to improve the proce-
dures and raising the status of the
The Walk is gaining increasing footfall from
residents of JBR, the surrounding hotels, the
Marina precinct, as well as from Jumeirah
UAE and the city of Dubai with other
countries in the world.
Al Hammadi pointed out that all
departments and establishments in
the country are trying to coordinate
with others in developing proce-
dures and this meeting will help in
the efforts to streamline the build-
ing licensing procedures.
The Umm Suqeim centre of
Dubai Municipality has relocated to
Al Barsha-3 area. Amina Arif, Head of
Umm Suqeim centre said the new
office will provide all the services
previously provided by them such
as the Survey Department services
(renewal/ replacement of lost land
maps, demarcation service, and the
sale of books on tides).
Arif said the Centre offers a range
of services such as the Treasury ser-
vice, receiving and registering appli-
cations for jobs, payment of drain-
age fees, applications for containers,
the issuance of discharge letter from
the traffic police, receiving customer
complaints, issuing accounts of cus-
tomers of Municipality e-services,
and reports on trade licenses.
The American University of Dubai
(AUD) and GREAT Properties, a
UAE-based real estate agency, have
announced a long term partnership
agreement. The official announce-
ment was made during AUD’s Stu-
dent Government Association’s In-
ternational Night event on 2nd April
2009, which GREAT Properties also
sponsored. The foundation of the
partnership will include an intern-
ship programme for AUD students
for a period of 10 weeks every fall
semester. The internship is open to
both current AUD students as well
as recent graduates specializing in
Accounting and Marketing, and who
are seeking to have some experience
in the UAE’s work environment.
“Each year AUD graduates a group
of top students in a variety of fields,”
said Sue Hunter, Career Services Man-
ager at AUD. “We encourage our stu-
dents to undertake internships as it
gives them the opportunity to apply
what they have learned in their aca-
demic studies to the real world. We
are looking forward to applying the
internship programme with GREAT
Properties to drive our students to a
successful career path.”
The Dubai Department of Eco-
nomic Development (DED) and
the Foreign Investment Office
(FIO) have recently signed a Memo-
randum of Understanding (MoU)
with the Dubai Real Estate Corpo-
ration (DREC) to attract internation-
al investors to do business in Dubai.
The MoU emphasizes collaboration,
resource sharing and streamlining of
specialist functions between the two
Dubai government departments.
As part of the MoU, the Foreign
Investment Office will provide po-
tential investors with business solu-
tions and access to project infor-
mation from the Dubai Real Estate
Corporation. The Corporation, in

Mr Sami Al Qamzi, Director General, Department of Economic Development, and Hesham Al Qassim, Chief Executive
Officer, Dubai Real Estate Corporation, signing the MoU
turn, will provide the Foreign Invest-
ment Office with data, analysis and
forecasts to enhance its knowledge
and outreach function.
His Excellency Mr Sami Al Qamzi,
Director General, DED said: “It is
through lasting partnerships with
our peers in the government and
the private sector that we will en-
sure a return to robust economic
growth.”
“Dubai is easily accessible and
has an efficient financial services
industry and excellent internal and
external logistics network. Diver-
sification has been the keyword in
Dubai’s success story and today, the
Emirate has successfully positioned
itself as the hub of trade, tourism, IT,
media, finance and healthcare in the
region,” Mr Fahad Al Gergawi, CEO of
the Foreign Investment Office.
Emcredit, the country’s first
government-backed credit informa-
tion services company, hailed the
Federal National Council’s (FNC) ap-
proval of a draft Credit Information
Law as a significant step in fostering
a conducive environment for data-
sharing. Ali Ibrahim, Managing Di-
rector of Emcredit, said that the new
law will bring greater confidence to
all stakeholders of the credit report-
ing industry, enhance the privacy of
data of individuals and companies,
and facilitate the sharing of credit
information to support credit deci-
sion. He said that the law creates a
framework of rights and obligations
for data providers, information users
and, most importantly, the public at
large.
Since early 2007, Emcredit has
played an integral role in providing
industry know-how in facilitating
and managing information sharing
to a Technical Advisory Commit-
tee tasked with creating a federal
regulatory framework that regulates
credit information. The framework
ensures that information needed for
accurate decision-making is shared
while guaranteeing that the privacy
and confidentiality of personal in-
formation is maintained in line with
international best practices.
“The Credit Information Law
reflects the maturing credit infor-
mation sector in the UAE. Amidst a
challenging financial environment
globally, the timely promulgation
of the law will immensely benefit
lenders by giving them access to
Ali Ibrahim
comprehensive credit information.
It will help them in accurately as-
sessing the creditworthiness of po-
tential borrowers and allow them to
implement better risk management
policies,” said Ibrahim. “The Credit
Information Law will strengthen
the UAE’s economic and regula-
tory framework and lead to greater
transparency in the financial sector.
The law is especially significant in a
society such as the UAE, which has a
large transient population, a strong
credit market and is witnessing rapid
economic growth.”
Since its inception in 2006, Em-
credit has signed several agree-
ments with leading financial and
non-financial institutions to enrich
its database. These include Citibank,
Dubai Islamic Bank, Dubai Bank, Am-
lak Finance, Better Homes as well as
Since early 2007,
Emcredit has played an
integral role in providing
industry know-how
in facilitating and
managing information
sharing to a Technical
Advisory Committee
tasked with creating
a federal regulatory
framework that regulates
credit information
government departments such as
Dubai e-Government, Dubai Police,
Dubai Public Prosecution and an ex-
clusive agreement with Dubai Land
Department’s Real Estate Regulatory
Authority and UAE Ministry of Inte-
rior.
The Tiger Woods Dubai, a mem-
ber of Tatweer Dubai, recently hosted
members of a delegation comprising
a number of journalists representing
sport, business and lifestyle publica-
tions from France in association with
the Dubai Department of Tourism
and Commerce Marketing (DTCM),
offering a preview of the compo-
nents that will shape the exclusive
landmark golf development.
The media members travelled to
Dubai in order to gain a first-hand in-
sight into the growth of the golfing
industry and its impact on the econ-
omy and tourism in the region. Dur-
ing their visit, the delegation toured
the sprawling 55 million square feet
private residential golf community
project site where work is progressing
to create the world’s first golf course
created by Tiger Woods Design, the
18-hole Al Ruwaya Golf Club, a pro-
fessionally staffed, state-of-the-art
DUBAI REAL TIMES
golf academy, an iconic clubhouse, a
boutique hotel including a well-be-
ing spa, and a fine dining restaurant
by acclaimed chef Guy Savoy.
Grassing on the fairways of Holes
4 and 5 is complete in addition to
rough shaping on all 18 holes, of
which 10 have been finely shaped.
Construction is also complete for the 33
main canal and one of the lakes that

Al Gurg delegation on site
will eventually contribute to incorpo-
rating over 3.3 million square feet of
water features into the golf course.
Office furniture and solutions
provider, Kinnarps Project Solu-
tions (KPS), has opened a new fur-
niture showroom in Dubai’s Al Quoz
industrial area, as part of the com-
pany’s expansion in the Middle East.
The new showroom, covering ap-
proximately 2,500 square feet over
two floors, is the first to be opened
by KPS in the UAE.
The new facility is currently open
via invitation and appointment only
and it is hoped that it will inspire
prospective clients with the latest
office furniture and fit-out ideas,
many of which were highlighted by
the company when it took part in
the Office Exhibition in early March.
Office technology is fast becoming
an essential consideration for archi-
tects and designers and is at the
forefront of any office fit-out or re-
designs. For the first time, the event
had a dedicated technology sector
to showcase the latest solutions and
innovations.
KPS has been operating in the
Middle East for 16 years and since
1995, has established offices in Abu
Dhabi, Muscat, Doha, Jeddah, Ri-
DUBAI REAL TIMES
yadh, Khobar and in Bahrain.
The Middle East Council of
Shopping Centres (MECSC), the
Middle East’s trade body for the re-
tail real estate industry organised a
two day interactive workshop titled
‘The Changing Dynamics of Retail
Leasing Management’ in April at the
34 Burjuman Rotana Suites in Dubai,
UAE.
Despite the global economic
slowdown, the RNCOS report ‘Boom-
ing retail sector in the UAE’ projects
total retail sales in the country to
grow at a compounded annual
growth rate (CAGR) of around 12 per
A wide range of complete office
scenarios are on display at the new
KPS showroom in Al Quoz, Dubai
cent from 2008 to 2011. But due to
expected short-term oversupply of
gross lease-able area (GLA) in some
markets by the end of 2009, Mall and
Leasing Managers need to develop
new strategies to reduce the im-
pact of sharp vacancy increases and
downward pressure on rental rates.
“There is going to be a clear
slowdown in upcoming projects,
however this could be of benefit
for the retail market to look back,
being able to focus more on exist-
ing shopping malls and taking the
opportunity to develop these even
more” comments Maher Al Shaer,
President of the MECSC. “This is not
a buyer’s (tenant’s) market; it is a
tough market for both the landlord furnishing deals worth a total of
and the tenant. Difficult times are Dh3.2million. UAE-based office fur-
the best time to grab market share niture dealer, Delma Interiors, in as-
and increase customer loyalty and sociation with Access International,
support. It’s a good time for shop- signed a deal worth over Dh1 million
ping malls to diversify their retail to supply Nightingale chairs to a UK
offering. A mall that is doing better architectural design firm. They also
than average will hence attract re- signed a contract to distribute Mi
tailers that also want to take advan- Youl interactive and high technolo-
tage of the difficult times to refine gy screens within the UAE, perfectly
their offering.” suited for hotels, corporate reception
Despite the global economic areas, hospitals and other public dis-
downturn, office developments play areas. Ufficio, a division of Ishtar
worth US$15.693 billion are now un- Décor has signed several distribu-
derway across the GCC. According tion agreements. The company will
to a leading Dubai-based market re- be the exclusive distributor in the
search company, Proleads, there are UAE for FAMO, a Portugese commer-
currently 156 office developments cial office furniture manufacturer,
underway across the region, with Davison Highley, a British manufac-
74 due for completion in 2009 and turer of commercial soft seating and
82 due for completion in 2010. The Brunner, a German manufacturer of
UAE is home to 103 new office de- meeting and conference chairs.
velopments, the largest number in
the region, worth US$10.620 billion
in total. Fifty of these developments
are due for completion in 2009 and
53 in 2010.
Some of the major office devel-
opments in the UAE include the
29-storey Michael Schumacher Busi-
ness Avenue located at Dubai’s Busi-
ness Bay and The Gate District, part
of the Dubai International Financial
Centre, comprising of ten commer-
cial towers.
In line with  a growing  demand
for office space in the UAE  and
many large office developments
due to reach completion within the
next two years, many international
companies are looking to the Mid-
dle East to generate business.
Over 365 exhibitors participated
in last month’s Office Exhibition
and many companies have report-
ed strong sales and new business The 2009 Office Exhibition, at the
partnerships. Al Aqili Furnishings Dubai International Convention and
(AAF) has announced two contract Exhibition Centre

WELLNESS the new trend in real estate
Technogym is partnering with the world’s most prestigious real estate developments in the UAE
A
Technogym stretching
couch, a Kinesis Vision or a
comfortable exercise bike are
becoming the choice drivers when
it comes to buying the right apart-
ment in the UAE. People’s awareness
on the benefit of physical activity
is constantly raising and more and
more people are regularly exercis-
ing in wellness clubs, travellers are
looking for gym equipped hotels
and corporate wellness represents
the new benefit companies offer to
employees.
Therefore, Wellness, one of the
major consumer trends in the last
years, is also becoming a very inter-
esting issue for the more advanced
real estate developers in the UAE fol-
lowing the trend of designing living
spaces instead of building flats.
Technogym, the Italian world
leader company in the wellness
sector, is the ideal business partner
for real estate developers willing to
integrate wellness areas into their
projects in order to offer a unique
training experience to the user,
and at the same time, to increase
the overall project value and pres-
tige. Innovative Italian design, ex-
ceptional quality, and ease of use
have enabled Technogym to create
exclusive private gyms for many of
the world’s most beautiful homes as
well as the most prestigious hotels,
clubs and corporate facilities.
Christian Dietrich, Managing Di-
rector, Technogym Emirates, said
“At Technogym we strongly believe
wellness is a daily need for every-
body and regular physical activity
is the basic component of wellness.
For this reason we are active in dif-
ferent market segments within the
UAE in order to offer personalised
and total wellness solutions, cater-
ing to different needs and customer
profiles: wellness clubs, hotels and
spas, corporate wellness, rehabili-
tation centres, home wellness, etc.
In the past few years, due to rising
awareness on the benefits of living
a wellness lifestyle, we are experi-
encing a growing demand in both
private homes and real estate de-
velopments alongside the trend of
having a private wellness space.”
Technogym top references in the
residential sector include Le Reve in
Dubai developed by W.S. Atkins. All
the sold out Le Reve apartments at
Dubai Marina, are offered to cus-
tomers in many options including
the wellness configuration with Ki-
nesis, the Technogym design solu-
tion to perform more than 200 exer-
cises, or Technogym Excite treadmill
fitted with personal TV screen and
iPod connection.
In Dubai, the company has also
fully designed and equipped the
Wellness Centre at the Millennium
Tower, completed in 2006 and rep-
resenting another icon of UAE’s real
estate development.
Furthermore, The Cube in Dubai
Sports City will be known to offer
a complete value-added package
both for its investors and its resi-
dents. Technogym offers The Cube
investors and resident’s state-of-the-
art equipment in terms of style, ease
of use, quality and reliability. The
equipment it will provide - Kinesis
Personal, CardioWave, Excite, FLEX-
ability, etc – are also the favourite
choices of many international celeb-
rities such as Madonna, George Cloo-
ney, Giorgio Armani, Kakà (last golden
ball) who train with this equipment
on a daily basis in their residences
around the globe.
Pyamod, the biggest German
property developers in Dubai pre-
sented their penthouse show home
located in BurJuman Residences in
Bur Dubai. It is a spectacle of luxury
and furnishing perfection that hous-
es Technogym’s Kinesis Personal Vi-
sion in it. Hence, Technogym is the
number one choice for the concept
of a home gym with luxury and high
-end look.
Promenade –Emaar Tower, Dubai
Marina is a premium residential tower
enclave that celebrates life in its en-
tire radiant splendur. Nestled within
DUBAI FOCUS
the panoramic confines of Dubai
Marina, it overlooks the widest and
most scenic spectacular views of
the bay. This is a truly luxury distilled
to its very finest. Technogym goes
one step beyond just having a gym
onsite but offers a state-of-the-
art prestigious gym with high end
leisure activities for the residential
tower.
Neo Casa, situated on the 40th
Floor of the Murjan 5 Tower at the
recently completed JBR develop-
ment, is nestled in between the
magnificent coast line of Dubai
and the Dubai Marina. These prem-
ises are the perfect canvas for the
launch of the Neo Casa concept,
to take place on April 29. Neo Casa
serves as an art inspiration for top
local interior and architect design-
ers to create living spaces within a
loft apartment that will exceed all
expectations of clientele and on-
lookers. In the process these living
spaces become showpieces for all
brands involved. Well renowned
for its state-of-the-art wellness de-
sign equipment, Technogym is the
chosen brand to showcase its most
prominent design piece – Kinesis
Personal Vision, supplemented by
the Wellness Rack and an Excite
treadmill with integrated TV as a
home gym within Neo Casa.
In Italy Technogym is currently
DUBAI REAL TIMES
partnering with Dolce Vita Homes,
an initiative aimed at creating qual-
ity residences able to transmit the
essence of Italian style and creativi-
ty. The first project, designed by An-
tonio Citterio and Partners, is under
development and it will integrate
the company’s wellness design
products with the most acclaimed 35
Italian design furniture pieces.
 PROFILE

Integrated public transport

Last month, the American Business Council and the Canadian Business Council jointly
organised a luncheon talk by Abdul Mohsin Ibrahim A. Younes, Member of Board of
Directors and CEO of Strategy and Corporate Governance, RTA, on the up-to-date position
of construction of an integrated public transport network
By Heena Awani

H
e threw light on the
challenges posed to
the transport system in
Dubai. One of the key
solutions to most of these problems
is changing the attitude of commut-
ers, he said.
“The car must no longer be
looked on as a necessity, a status
symbol, and a ‘must-have’ item.
W.J. (Bill) Ryan, President of American Business Council, thanked Abdul
DUBAI REAL TIMES
travel.”
The Roads and Transport Author-
ity will celebrate its fourth birthday
in November this year. It is a remark-
able feat for any organisation to be
so young and yet achieve so much.
The RTA is a fully independent gov-
ernment entity and is responsible
for designing, constructing, oper-
ating and managing all transport
centre, the RTA takes upon itself the
responsibility to ensure a safe and
smooth transportation system in
the city.
Traffic congestion was the first
issue to be talked upon and is prob-
ably the biggest of the worries
for almost everyone in Dubai. To
reach the workplace from home is
an enormous task on its own. “Ac-
Traffic congestion
was the first issue
to be talked upon
and is probably
the biggest of the
worries for almost
everyone in Dubai
cording to a study, on an average,
Dh5.9 billion a year is wasted in our
movable boxes, thus affecting our
economy,” he said
The RTA is constantly trying to
build a better road network. It has
widened and added on to 80 per
cent of the road’s capacity in the
main city, and has increased the
lanes on Creek Crossing from 19 to
48, which is an increase of 150 per
cent in three years. It intends to con-
struct 500km of new roads by 2020.
It will add two ring roads into the
system and will provide direct links
to certain communities. With these
changes, a commuter will have a
direct passage from the BurJuman
Centre to Marina. He will avoid traf-
fic on roads like Sheikh Zayed Road.
The authority is also working
on 95 new interchanges. The end
of April saw the opening of a new
double-decker road -- a flyover built
over Doha Street, near Downtown
Dubai. It will ease the flow of traffic
in the Burj Dubai area and give di-
rect access to Burj Dubai and DIFC.
It links Business Bay and Al Khail
Road to various roads in Jumeirah.
The much-awaited Metro will re-

Mohsin Ibrahim A. Younes, Member of Board of Directors and CEO RTA for Metro train for the Red Line
his informative talk

Many other countries in both the
East and the West have citizens
who happily use public transport
to get from one place to another.
Buses, trains, ferries and other
36 modes are an accepted way of life,
an inexpensive and efficient way to
and roads infrastructure in the emir-
ate. This regulatory body has two
aspects to its authority (1) Strategy,
and (2) Corporate Support Service
Sector -- which comprises six teams.
Considering Dubai’s growing role
as a commercial hub and business

lieve at least 35 per cent of the cur-
rent traffic congestion. The Red Line
extends from Jebel Ali Free Zone to
Rashidiya with 29 stations along the
way. The one-way run-time on the
Red Line is approximately one hour
from beginning to end. The Green
Line starts from Al Ghusais and goes
VIP passengers on a trial run of the Metro
up to Al Jaddaf, running through
Healthcare City. It covers a distance
of 22.5km, with a one-way run-time
of 30 minutes.
“Hopefully, the drive which takes
us an hour and a quarter today will
take us just half the time in the com-
ing few years,” he said.
Next, Abdul Mohsin dwelt on
the problem of limited use of pub-
lic transport. He understands that
the reason why people prefer cars
to buses is the insufficient capac-
ity of the PTS (Public Transport
System). Buses sometimes do not
arrive on schedule and the time
gap between two buses for the
same route is often high. However,
efforts have been taken to change
the present scenario.
Articulated as well as double-
decker buses are replacing the pre-
vious ones, adding to the seating
capacity.
“The number of buses on roads
has risen considerably. In 2005, we
had 500 buses and now we have
1,350 moving about in the city. Also,
by the time the peak of summer
hits Dubai, we will probably have
Double-decker buses already ply the roads
all open bus stops converted into
air-conditioned, chair-provisioned
waiting areas,” he added.
Adding to its ventures, the RTA
has now introduced the ‘Wojhati
Service’ which is an Arabic word
meaning ‘My Destination’. Commut-
Advantages of PTS
What to do with the time you
save while on public transport:
• Catch up with a friend
• Plug in your iPod
• Plan your day
• Look for a new recipe for
dinner
• Read a novel or magazine
ers can now plan their journey with
any medium of the public transport
-- Metro, buses, or water taxi. They
will be informed about the exact
timing of their transport, taking into
account the traffic situation. This
web-based journey planner will re-
quire the user to log on to a particu-
lar site, after which he will have in
hand places in transit, their indica-
tive points, and other geographi-
cal information. With the increased
number of buses and their capacity,
they will not only be on time but
DUBAI REAL TIMES
there will no longer be the need to
sweat in the heat, as one can have a
planned journey.
The third -- and one of the most
important challenges -- is the so-
cio-cultural factor, or simply put, 37
people’s attitude.
 “Initially, when buses were intro-
duced, they mainly served the la-
bourers. Unfortunately, the notion
still remains. As reports indicate,
in Hong Kong, 90 per cent of the
population commutes by public
transport services; in Singapore, it
is 65 per cent; 40 per cent in Lon-
don; and 35 per cent in Berlin; as
opposed to the astonishingly low
six per cent in Dubai. There is a stark
difference between Hong Kong and
Dubai of 84 per cent, while both are
developed cities. In spite of the fact
that there are ‘Gold Class Buses’ as
well, some affluent sections of our
society still consider it an act below
their dignity to travel in a bus. Noth-
ing much can be done about this.
The solution lies only in our own
mindset. We see cars as a symbol
of prosperity and social status. The
Metro and its stations -- which will
have a five-star hotel feel and look --
should be successful in wiping out
these absurd ideas from the minds
of people. We must work hand in
hand with the RTA for the better-
ment of Dubai’s transport systems.”
During the next round of his talk,
Abdul Mohsin emphasised not only
the transportation environment,
but also the effect of transportation
on the environment. “Many people
have got their licence to drive, but
not the correct ethics to go with
it.” To curb this problem, the RTA,
DUBAI REAL TIMES
in conjunction with some driving
institutes, has initiated certain cam-
paigns. The first of its kind was ‘Kids
are safer behind’, which stressed a
simple fact often forgotten.
A ‘Road Safety Campaign’ is un-
derway with Dubai Police patrol-
ling the streets. Drivers are being
38 given tickets for reckless driving and
over-speeding. This campaign is to
Water ferry
Save petrol
• Use the Public Transport System
• Go for car pooling
• Avoid driving for small distances
• Walk to areas in the same locality
• Ride a bicycle
counter the high number of deaths
due to road accidents.
As a part of the ‘Be Safe’ cam-
paign, the public was informed
about the dangers of using a mo-
bile phone while driving. Not only
does it result in collision or driving
off-track, but also fetches a ‘ticket’.
‘Seat Belt--Your Chance for Sur-
vival’ and ‘Road Peace’ are two
of the few campaigns yet to be
launched. The government is also
encouraging cyclists and pedestri-
ans. ‘Pedestrian-Only Zones’ and
Hybrid taxi
Children must be
in the rear seats
‘Air-Conditioned Cyclists Path’ are
already under construction.
Since Dubai, being an automo-
bile-oriented city, must be contrib-
uting towards air pollution, it must
also do its share in conserving the
environment. ‘Car-pooling’ is highly
encouraged by the authorities, thus
reducing the emission of carbon
monoxide (Co2) particles into the
atmosphere.
Yet again, for the sake of Mother
Earth, the use of Metro and water
taxi was highly stressed upon by
Street level tram for Sufouh area
Abdul Mohsin. To reach the near-
est Metro stations, second-level
transport systems are going to be
provided for.
We can expect the trams to start
operating from April 2011. They will
connect the Marina and Sufouh
area to the Metro, thus dissuading
people from taking out their cars.
August 2008 saw a remarkable
development when RTA’s Dubai
Taxi agency and Al-Futtaim Motors
deployed 10 Toyota Camry hybrid
sedans for passenger trials. These
taxis have a reduced level of emis-
sion, causing less pollution and cre-
ating a healthier environment.
During his talk, Abdul Mohsin
made the statement: “UAE will in-
vest highly in transport infrastruc-
ture as this will ease the financial
crunch and help in jobs creation”,
and concluded his talk with an in-
formative presentation video, which
was followed by a brief Question-
and-Answer session.
 MOVING IN

Location key to Leasing offices in

rental success free zone commercial
complex

C
hallenging global financial conditions mean buyers remain
reluctant to enter the property market. As such, the de-
mand for rental property in Dubai continues to surge. The

changes in the economic climate have also increased the
importance of the tenant, and investors are now carefully considering
location as a major factor in ensuring success in the buy-to-let mar-
ket as accessibility to work, schools and amenities top most tenants’
wish-lists.
One area that is attracting interest is Lake City Tower at Jumei-
rah Lake Towers. The tower, which offers luxury living overlooking a
picturesque man-made lake, has
upmarket residential units with
artistic finishes and interiors, as
well as recreational facilities such
as on-site restaurants, retail out-
lets, a crèche, gymnasium and
health facilities.
According to Taha M. Al
Zouby, Tiger Properties CEO,
the main reason for the high de-
mand for units within Lake City
Tower, however, is its location.
“The building is situated di-
rectly in front of the metro sta-
tion which will provide easy
access to all major points in the
emirate. It is just a few minutes away from the Almas Tower, which
houses the region’s only diamond exchange and the Dubai Multi
Commodities Centre (DMCC).”
Key to Lake City Tower’s success, says Taha, is the fact that Tiger
Properties partnered with Go Wealthy, offering them exclusive rental
L
eading international household names, including Erics-
son, Kraft and L’Oreal, have set up operations in Limit-
less’ Downtown Jebel Ali development, where almost
350,000 square feet of free zone, A-grade office space is now
taken up. The leased accommodation – around half of the
total available in the development’s first four office towers – is
the new workplace for more than 700 people whose employ-
ers have chosen Downtown Jebel Ali as their regional hub.
More global and local firms are due to move in over the next
few months.
The premises offer modern, tailor-made accommodation,
with onsite facilities management services. Businesses can
lease areas from 3,500 to 15,000 square feet, and can lease
multiple floors.
The completed office blocks will soon be joined by four
more towers with apartments, retail, recreational and further
commercial facilities. The eight-building complex – The Gal-
The leased accommodation is the new
workplace for more than 700 people …
leries – is under construction in zone one of the 200-hectare
project. The Galleries is due for completion by late 2009.
Salah Ameen, Project Director at Downtown Jebel Ali, said:
“Our growing list of globally-renowned tenants proves that the
commercial towers in The Galleries meet both local and inter-
DUBAI REAL TIMES

rights for a limited number of units in the development, all of which
have successfully been let.
“At Tiger Properties we particularly value the way in which our
business has been managed – after all, a professionally managed de-
velopment is a far more attractive option when looking to rent, as it
ensures a streamlined and efficient service.”
Tiger Properties, also acknowledges the support of the Dubai
Multi Commodity Centre (DMCC), a strategic initiative of the Govern-
ment of Dubai, for its efficient running of Jumeirah Lake Towers.
national business expectations. But a good working environ-
ment is not just about A-grade offices. Easy access, convenient
commuting, and pleasant outdoor surroundings play a major
part, too. Our offices will soon have living accommodation
right on the doorstep. Downtown Jebel Ali will be served by
the Dubai Metro and an environmentally-friendly people mov-
er system, reducing car dependency and cutting road conges-
tion. There will also be ample shaded, outdoor space – a vital
component of any large-scale development.” 39
 MARKET TRENDS & ANALYSIS // PROPERTY PRICES
INFRASTRUCTURE

The work goes on

W
hile newspapers have
been discussing the
negative aspects of
the financial down-
turn others have just got on with
their jobs, to the best of their abili-
ties, with the result that life has been
going on – at a slightly slower pace,
that’s true – but progress on con-
structing, installing, decorating, and
other related jobs have been carry-
ing on, regardless. Infrastructure is
being provided to current projects,
while established ones are being
improved.
Developers who invested in
Downtown Jebel Ali can now take
possession of their land and begin
work, global master developer Lim-
itless has announced. Two hundred
and fifty plots are ready for han-
dover to all 122 developers who on with infrastructure work to ensure One. The Galleries includes four be served by the Dubai Metro and
bought land in the 200 hectare that buildings are connected to utili- newly-completed commercial tow- have its own environmentally-
DUBAI REAL TIMES

project, where infrastructure work is
on track and will continue while de-
velopers construct their individual
buildings.
Salah Ameen, Project Director,
Downtown Jebel Ali, said: “This im-
portant milestone underlines our
commitment to our clients and to
40 the project. Developers are now
free to break ground while we press
ties when they are complete.”
Cirrus Developments has already
begun construction of Celestial
Heights, a three-tower complex in
Zone One of Downtown Jebel Ali,
while Limitless itself is developing
The Galleries – an eight-building
complex of offices, apartments, retail
and leisure facilities set in extensive,
landscaped grounds – also in Zone
ers, where A-grade offices are avail-
able for lease and four mixed use
towers where more than 600 apart-
ments will be ready for lease by the
end of 2009.
Salah Ameen said: “Downtown
Jebel Ali combines quality living,
working, recreation and shopping,
within easy reach of Dubai and just
45 minutes from Abu Dhabi. It will
friendly people mover system,
reducing road congestion and un-
derpinning Limitless’ commitment
to moving people and not just cars.
There will also be ample shaded,
outdoor space – a hallmark of all our
projects.”
iCrete, a clean technology leader
and a premier concrete technology
company, announced recently the
availability in North America, the
Middle East, and the Far East of cust-
omised and patented high-strength
concrete mixes designed for use
by providers of pre-cast and pre-
stressed concrete.
iCrete’s new product family for the
precast industry features:
• Speed in application and set-
ting – optimising faster, more
efficient turnarounds for pre-cast
moulds.
• Exceptional reliablity and work-
ability – reducing surface defects
and repairs.
• Less cement – improving the
environmental profile and lower-
ing the carbon footprint of each
project.
• Thinner, stronger sections – of-
fering a much wider range of
engineering and architectural
options.
• Lower costs – leveraging reduc-
tions in cement content and
work hours.
Said Juan Carlos Terroba, iCrete’s
Chief Executive Officer: “We are
now bringing to the precast market
a proven technical breakthrough
already in use for highly trafficked
pavement and high rise structures.
iCrete mixes and quality systems will
revolutionise the pre-cast methods
used for construction of pre-fabri-
cated buildings and industrial parks,
as well as the building of major pipe-
lines, sewers, bridges, roads, tunnels,
and railways. “
H.E Saeed Al Tayer, MD & CEO
of DEWA, signed various contracts
recently for 13 substations for the
construction of important projects
at a total amount of Dh1.534 billion.
This is a part of the extensive devel-
opments initiated by DEWA, these
projects are awarded to provide and
supply installation, testing and com-
missioning of substations and asso-
ciated works.
H. E Saeed Al Tayer explained
that the First contract CE/448A/2007
comprising five 132/11 kV Substa-
tions and one 132/33 kV Substa-
tion, has been awarded to M/s
Emirates Trading Agency (ETA) for
the amount of Dh786 million. The
substations will be constructed at Al
Wasel (Bada Area), New Hatta Area,
Barsha Residential Area, Consul-
ates Al Hamrya Area, Al Jadaf Area,
iCrete, a clean technology leader and a premier
concrete technology company, announced
recently the availability in North America, the
Middle East, and the Far East of customized
and patented high-strength concrete mixes
designed for use by providers of precast and
pre-stressed concrete
and New Lusaily Area 132/33 kV. The
commencement date for Al Wasel,
New Hatta, and Consulate & New
Lisaily S/S is 20 months plus 60 days
reliability run, and the commence-
ment date for Barsha residential & Al
Jadaf 2 S/S is 21 months plus 60 days
reliability run.
He explained that the Second
contract CE/448E/2007 comprising
two 132/11kV Substation viz. Knowl-
edge - International Media Produc-
tion Zone Area and Najma 2 Area has
been awarded to M/s Bahwan for the
amount of Dh224 million. The com-
mencement date for Knowledge S/S
is 22 month plus 60days reliability
run, and the commencement date
for Najma2 S/S is 21-month plus 60
days reliability run.
The third contract CE/448D/2007
comprising of two 132/11kV substa-
tion viz. Earth Station - Gardens Dis-
covery Projects Area and Internation-
al City-4 has been awarded to M/s
Danway for the amount of Dh194
million. The commencement date
for Earth Station S/S is 21-month plus
60days reliability run, and the com-
mencement date for International
City-4 S/S is 21 month plus 60 days
reliability run.
Finally, the fourth contract
CE/448C/07 comprising three
132/11kV substations namely New
Garhoud, JAFZA South-2, and In-
dustrial City-4 has been awarded
to M/s. Emirates Electrical Establish-
ment (EEE) for the amount of Dh330
million.
Palm Utilities (PU), a leading
water and district cooling util-
ity service provider established by
government-owned investment
firm Istithmar, a major investment
holding and part of the Dubai
World group of companies, has an-
nounced that Palm District Cooling
(PDC) has recently completed the
installation work for the Dolphin
System on its Gardens plant, be-
coming the first company in the
region to take advantage of the
revolutionary water treatment tech-
nology. PDC has implemented the
Dolphin System as a part of several
initiatives launched this year to en-
sure consistently high-quality utility
services, optimise water consump-
tion and contribute in safeguarding
the environment.
The Dolphin System is an en-
vironmentally friendly water treat-
ment system that eliminates scale
and the need for chemicals in water
treatment and helps minimise water
usage. The technology has been
embraced by reputed utility firms
from around the world and is widely
recognised for its water-saving fea-
tures and for eliminating hazardous
chemicals used in cooling towers
water treatment.
PDC currently provides district
cooling services to several presti-
gious mega developments in the
UAE, including the Gardens Resi-
dential Complex, Jumeirah Islands,
Jumeirah Lake Towers, Discovery
Gardens and Palm Jumeirah. Being
the first in the region to implement
the environmentally friendly water
treatment system, PDC is expected
to realise powerful green advantag-
es and expand their opportunities
to earn LEED Green Building rating
system certification.
His Excellency Dr. Rashid Ahmad
bin Fahad will be the Patron of the
Garden and Landscaping Middle
East exhibition, scheduled 17–19
May, at the Dubai International Con-
vention and Exhibition Centre. Dr
Rashid Ahmad is the UAE Minister of
Environment and Water. His Excel-
lency will also inaugurate the exhi-
bition, and address the visitors and
exhibitors during the event with his
opening speech.
H.E. Dr. Rashid Ahmad said, “By
accepting to be a patron of this exhi-
bition, I wish to encourage coopera-
tion between the government and
private sector in helping to conserve
the environment, by bringing the
latest technologies in this part of the
world.”
He added, “The Garden and
Landscaping Middle East exhibition
boosts the government efforts in
protecting the environment since
gardens serve as a favourite place for
individuals and families. Gardens in-
DUBAI REAL TIMES
crease greennery and play a leading
role in reducing side effects of cli-
mate change. This exhibition along
with several other large scale devel-
opments that are progressing, mark
the UAE’s leadership in advancing its
beautification drive. In the presence
of an economic downturn, it be-
comes even more necessary to build 41
a clean and beautiful environment

for all residents of the UAE.”
Ms Elisabeth Brehl, Managing
Director of Epoc Messe Frankfurt
GmbH added “The hundreds of bil-
lions of dollars being spent on build-
ing and construction would require
hundreds of square kilometres of
landscaping and thousands of gar-
dens. Recent estimates suggest the
spend on landscaping and garden-
ing to be worth Dh28.5 billion (US
$7.77 billion). This presents a signifi-
cant opportunity for international
and local companies dealing in ag-
ricultural supplies, landscaping and
gardening equipment, plus outdoor
furniture to bid and try to get a piece
of this massive project.”
“Dubai Municipality has been
a long standing supporter of Gar-
den and Landscaping Middle East
in 2009. According to a recent an-
nouncement by Dubai Municipality,
a million trees will be planted all over
the emirates in a bid to protect the
environment,” said Ms Brehl.
In other announcements, the
Dubai Municipality announced that
it will complete several landscap-
ing projects of over 283.6 hectares
in the city. The projects will beau-
tify the city through cultivation
of parks, roads, intersections and
DUBAI REAL TIMES
for owners. The company is already
working with Jumeirah Golf Estates
for the developer’s luxury villas and
golf clubhouses in Dubai, and with
the residential real estate develop-
ment at The Wave in Muscat, Oman.  ducing cost especially in tough eco-
Outdoor Concepts Manag-
ing Director, Rob Renton, explains:
“Residential real estate developers
are increasingly looking for points
of differentiation for their premium
properties in a competitive market.
Villa owners naturally want to maxi-
mise the use of their outdoor living
space and make the most of the
great climate we enjoy in the region.
The kitchen is the heart of any home
Outdoor Concepts, the Dubai-based company
with a focus on stylish outdoor living, is rolling
out its unique range of luxury outdoor kitchens
to real estate developers across the Middle East
the second phase of Bal Al Shams and our modular systems can fit into
Street. any outdoor area, adding distinctive
IDC study answering key questions
about the main ingredients of Smart
Cities, their main business challenges
and the role of the information and
telecommunications industry in re-
nomic times. IDC conducted some
highly specific research around Mid-
dle East Smart Cities and shared the
main findings in the form of a Smart
Cities whitepaper during an HP cus-
tomer event for key real estate devel-
opers from across the region which
was held at Atlantis hotel at the end
of April.
By definition, a Smart City pro-
vides connectivity, future-proof
broadband capacity and total wire-
less fidelity, with IP-enabled devices
communicating and being managed
through a control centre, allowing
tenants, residents and visitors real-
time access to key information about
their environment from anywhere—
connectivity is considered a fourth
utility and remote management is
paramount.
Smart Cities can help lower oper-
ating expenses, improve energy ef-
ficiency, increase security and safety
within the city, heighten tenant sat-
isfaction, enable countries to com-
pete in an increasingly globalised
and connected economic world and
allow communities to recognise the
benefits provided in terms of quality
of life as they become increasingly
technology savvy.
The company offers products, so-
lutions and services that enable Smart
Cities to address the short-term cost
reductions required by today’s chal-
lenging economy, while laying the
groundwork to exit the downturn
stronger and more competitive
Technology infrastructure and
particularly services formed the
framework of what IDC listed as es-
sential components of Smart Cities,
with ongoing revenue generation
streams also being one of the major

woods, as well as rural areas. The
largest project carried out by the
department will be at the Arabian
Ranches, covering an area of 32
hectares. In June the municipality
will complete many projects such as
the Kuwaiti Street Project, Al Barsha
Road Project; Rabat Street, Tripoli
42 Street, Al Garhoud Inter-section, Al
Mina Street, Za’abeel 2 Street; and
Outdoor Concepts, the Dubai-
based company with a focus on
stylish outdoor living, is rolling out
its unique range of luxury outdoor
kitchens to real estate developers
across the Middle East. The luxury
outdoor kitchen enhances the value
of premium properties and creates
a selling point – as well as creat-
ing a real outdoor living experience
character and turning the outdoors
into a stylish and functional enter-
taining and living area. We offer a
choice of modular systems, and can
help select these for clients to meet
their own preferences, along with a
wide choice of kitchen units and ap-
pliances,” he adds.    of existing, traditional systems.
HP is focussing on the future
of city developments following an
drivers behind the adoption of Smart
City technology which, ideally, should
be included in construction and inte-
rior design plans. Moreover, Smart
Grids and tighter control system in-
tegration will deliver greater energy
control and cost savings beyond that
Photo by Joe Woolhead

Improving energy
consumption at home
E
nergy Management Services (EMS), the first
company in the Middle East to provide en-
ergy management solutions, released a se-
ries of recommendations for improving en-
ergy consumption at homes to coincide with Earth
Hour 2009, which took place on 28 March between
8.30pm and 9.30pm. A global initiative to raise
awareness on the impact of climate change, Earth
Hour 2009 was spearheaded by the World Wildlife
Fund and was the world’s largest ‘power down’ ini-
tiative. It drew the participation of more than 1,500
cities and towns in over 80 countries in a collective
call to switch off unnecessary lights and electrical
Khaled Bushnaq appliances.
The energy saving tips recommended by EMS in-
cludes simple and cost-effective ways for individuals to make a start towards reducing
energy consumption and contribute to mitigating the country’s carbon footprint.
Khaled Bushnaq, Chief Executive Officer of EMS, said: “Individuals must use Earth
Hour as a motivating factor to continue their focus on reducing individual energy con-
sumption rates throughout the year. There are countless ways in which every single
individual can significantly save energy and, by extension, lower their carbon footprint.
We believe our check-list will help them follow the green path.”
Some of the tips recommended by EMS include:
• Unplugging of appliances such as televisions and computers which consume en-
ergy even when not in use.
• Dim or turn off lights in empty rooms as lighting usually makes up about 15 per
cent of electricity bills.
• Increase the temperature settings for air conditioners and thermostats by two de-
grees centigrade.
• Replace incandescent light bulbs withcompact fluorescent bulbs which use four
times less energy and last an average eight times longer (up to 20,000 hours).
• Remembering to correctly turn off all taps to eliminate dripping which can waste
13 litres of water a day.
• Taking a shower instead of a bath can save up to 25 litres of water.
• Ensure correct air pressure in tyres of vehicles which can save up to five per cent
on the fuel bill.
• Opt for car pooling can cut down nearly a third of all car mileage clocked.
• Avoid using plastic bottles or bags as it takes around 450 years for a plastic to
biodegrade.
EMS is renowned for auditing homes and businesses and determining ways in which
individuals or companies can reduce their energy usage. EMS experts visit facilities to
identify sources of energy use and uncover inefficiencies. The audits comprise qualita-
tive and quantitative analyses that usually start with a comprehensive study of energy
bills, consumption trends, and tariffs, and is followed by a site survey and actual mea-
surements to review the physical energy use and distribution.
ENVIRONMENT
DEWA honours winners of
‘Best Consumer Awards’
Engineer Amal Koshak, Senior Manager – Demand & Tariff Management,
DEWA (third from right) with the winners of the ‘Best Consumer Awards.’
T
he Dubai Electricity and Water Authority (DEWA) has an-
nounced that 13 environmentally-conscious residential
customers have won cash prizes totalling Dh22,000 for sig-
nificantly reducing the use of water and electricity. The three top
cash prizes were awarded to Khushal Puri who won Dh5,000, while
Ali Maarouf Kesserwan and Ramandeep Kaur won Dh4,000 and
Dh3,000 respectively. Winners of Dh1,000 each included Muab Issa
Mahmoud AlKhatib; Bhaskar Balasubramaniam; Mouvses Balouzian;
Parpia Raju; Chunilal Vasa Chandreshkumar; Jayprakash Trikamdas
Ashar; Rubin Pathrose; Sabah Ali Salem and Abdul Nazar Kunhi Mal-
laveettil.
Saeed Mohammad Al Tayer, Managing Director and CEO of
DEWA, said: “With residents constituting 80 per cent of water and 70
per cent of our electricity consumer base, there is an urgent need to
encourage all consumers to be prudent in their electricity and water
consumption, especially during the summer season. In the current
difficult economic situation, it is crucial for every consumer to be
more cautious and implement all means available to reduce their
energy consumption. We are confident the Best Consumer Award
will increase awareness of the need to help protect the environ-
ment by the conservation of vital resources.”
The sixth round of the ‘Best Consumer Award’ will run until 31
August. The awards are part of DEWA’s wider energy conservation
programme that includes schools, hotels and Dubai Government
departments, in addition to the commercial and industrial sectors.
Engineer Amal Koshak, Senior Manager – Demand & Tariff Man-
agement, DEWA, expects a high number of participation this year,
given the achievements of the award in the previous years. She
DUBAI REAL TIMES
affirmed that the awards will also support the conservation pro-
gramme that DEWA intends to integrate into the daily life of Dubai’s
population. “Every single person participating in these awards will
be a winner. Even those who do not win cash rewards will benefit
from substantial savings in their water and electricity bills.”
To participate in the awards, contestants must fill in a special form,
with their name, address, and DEWA subscription number. With this
information, DEWA’s conservation team will track the household con-
sumption and benchmark it to last year’s usage for determining the 43
winners. Forms are available online at www.dewa.gov.ae
 UNDER CONSTRUCTION

Shape of things to come

“After a fall comes the rise,” said a wise man many years ago. If he was here, right now,
he would be talking about the fall of projects and buildings during these haywire economic
times; which is rapidly being replaced with news of a rise in projects that are being
re-structured, built and, in some cases, started from scratch.

N
ew images of City of
Arabia highlight the
spectacular nature of the
$5 billion retail, residen-
tial, commercial and entertainment
development taking shape in Dubai.
With round-the-clock construction
work entering a new phase, own-
ers, the Ilyas and Mustafa Galadari
Group, commissioned a new range
of artist’s impressions that put the
project and each of its four main ele-
ments perfectly into perspective.
City of Arabia will have a phased
opening starting towards the end
of 2010, beginning with Mall of Ara-
bia, one of the world’s largest shop-
ping destinations, which will have a
gross leasable area (GLA) of 10 mil-
lion square feet over two phases.
With workers on site casting ap-
Going full steam ahead, City of Arabia will be home to 40,000 people
proximately 60 pile caps per week
on the 20 million square feet site ment for all the family, as well as the when the project is completed, and Vice-Chairman and Managing Di-
beside the Emirates Road, the mall remarkable Restless Planet theme the new images do that perfectly,” rector, added: “Construction work is
is rapidly taking shape. Construc- park and earth science museum. said Ilyas Galadari, Chairman of Ilyas continuing to go full steam ahead,
tion work is also moving quickly Housing the world’s largest and & Mustafa Galadari Group. and major visible progress is now
ahead on Wadi Walk, the waterfront most lifelike collection of anima- Mustafa Galadari, the group’s particularly evident at Mall of Ara-
community characterised by styl- tronic dinosaurs, Restless Planet
ish apartments, outdoor cafes and will make visitors think they’ve wan-
attractive retail outlets set beside a dered onto the set of a Stephen Housing the world’s largest and most lifelike
meandering eight kilometre canal. Spielberg Jurassic Park blockbuster. collection of animatronic dinosaurs, Restless
Construction work has now One design team member, Dr. Jack
Planet will make visitors think they’ve wandered
commenced on I&M Tower, Metro Horner, served as a scientific consul-
onto the set of a Stephen Spielberg Jurassic Park
DUBAI REAL TIMES

Tower and Wadi Tower, the first
three highrise commercial and resi-
dential buildings which will create a
dramatic skyline.
Mall of Arabia will offer more
than 1,400 diverse retail outlets,
and the first phase is already 89 per
cent contracted and reserved. It will
44 also feature a rooftop hotel, water-
front alfresco dining and entertain-
tant to Spielberg on three Jurassic
Park movies, and Restless Planet will blockbuster. One design team member,
take visitors 100 million years back
in time on a dramatic theme-ride
Dr Jack Horner, served as scientific consultant
into the prehistoric world. to Spielberg on three Jurassic Park movies, and
“With each of the four main ele- Restless Planet will take visitors 100 million
ments of City of Arabia now reach-
ing important stages, we wanted to years back in time on a dramatic theme ride into
give all our stakeholders a detailed the prehistoric world
picture of what they can expect

Mall of Arabia will be one of the world’s largest shopping destinations with a
gross leasable area (GLA) of 10 million sq ft over two phases and more than
1,400 diverse retail outlets
bia, which is a very exciting devel-
opment in its own right.”
The Ilyas and Mustafa Galadari
Group also has interests in real estate,
agencies for overseas companies,
gems and jewellery, automobiles
and transport and food distribution,
as well as an expanding luxury yacht
division, Sunseeker Middle East,
which enjoyed a highly successful
appearance at the recent Dubai In-
ternational Boat Show.
City of Arabia, which will become
The Restless Planet theme park and
earth science museum will house
the world’s largest and most lifelike
collection of animatronic dinosaurs
home for 40,000 people, will be a
vibrant, self-contained urban com-
munity, with business and admin-
istrative offices, schools and clinics,
supported by luxury apartments,
shops, galleries, restaurants and
unique attractions.
Dubai World Trade Centre (DWTC),
venue operator and events organis-
er, has broken ground on its new,
state-of-the-art extension. The cer-
emony, which took place last month,
followed a recent announcement by
His Highness Sheikh Hamdan bin
Rashid Al Maktoum, the Deputy
Ruler of Dubai and UAE Finance Min-
ister, to create additional exhibition
space that will significantly increase
facilities at the Dubai International
Convention and Exhibition Centre
(DICEC), currently the largest venue
in the Middle East region.
Scheduled for completion by the
end of 2009, the additional halls, ad-
jacent to existing Halls 1 through 4
of DICEC, will provide a total of one
million square feet of covered ex-
hibition space and will continue to
attract more people to participate
in exhibitions and events hosted
by DWTC. In the heart of Dubai’s
Commercial Business District (CBD),
DICEC and the new extension will
provide easy access for business and
leisure travellers as the new metro
Red Line opens its ‘Dubai World
Trade Centre’ station this year, adja-
cent to the venue.
DWTC, which celebrates its 30th
anniversary this year, will work with
contractor Khansaheb Civil Engi-
neering LLC and design agency Dar
Al-Handasah to make this extension
a reality.
The first contractor in the UAE,
Khansaheb operates a Quality Man-
agement System certified to ISO
9001:2000, a safety management sys-
tem certified to OHSAS 18001:1999
and provides high quality services
in construction, joinery and interiors,
ceilings and partitions, metal fabri-
cation, building services, building
products and facilities management.
Dar Al-Handasah is a renowned pio-
neering force in the planning, design
and development of projects in the
Middle East, Africa and Asia, spe-
cialising in planning, engineering,
architecture, environment, project
Construction work is moving quickly on Wadi Walk, a vibrant waterfront
community characterised by stylish apartments, outdoor cafes and attractive
retail outlets set beside a meandering eight kilometre canal
management and economics.
DWTC’s 2008 year-end results
demonstrated continuous growth
for the region’s events industry, with
many leading shows across a range
of sectors. According to UFI (the
global association of the events in-
dustry), Dubai has become the most
important exhibition hub in the
Middle Eastern and African region,
with a leadership position in a sector
worth Dh12 billion a year. This new
extension will enable DWTC to work
towards sustaining and increasing
their target of 1-1.5 per cent contri-
bution to Dubai’s GDP.
Memon Investments, a Dubai-
based property developer and
part of the international business
conglomerate, the Memon Group
of Companies, has kicked off the
initial construction works on the
Dh150 million ‘Gardenia I & II’ proj-
ect, located in Jumeirah Village. The
groundbreaking ceremony follows
the developer’s decision to award a
Dh2.4 million shoring and excava-
tion contract to the International
Foundation Group (IFG). The de-
veloper also announced that it has
awarded a Dh520,000 elevator con-
tract to Shanghai & Arabian Electro-
mechanical LLC (SAE).
Under the terms of the contract,
IFG will commence foundation
works involving shoring and piling
excavation using their high rated
piling systems, concrete diaphragm
walls, excavation support and earth
retention systems. The company has

The ceremony, which took place last month,

followed a recent announcement by His
DUBAI REAL TIMES

Highness Sheikh Hamdan bin Rashid Al

Maktoum, the Deputy Ruler of Dubai and UAE
Finance Minister, to create additional exhibition
space that will significantly increase facilities
at the Dubai International Convention and
Exhibition Centre (DICEC), currently the largest
45
venue in the Middle East region
Construction begins on Dubai World Trade Centre’s new state-of-the-art extension
 Construction progress on the ‘Gardenia I & II’ project Artistic impression of ‘Gardenia I & II’ project

extensive technical expertise en- elegance and service.

sures the creation of an understruc- Tameer’s Development Director,
An integrated master community spread across ture that meets Memon’s strict qual- Darren Ingram, expressed the com-
811 hectares, Jumeirah Village is a mixed-use ity and scheduling standards,” said pany’s satisfaction with the rate at
development that when complete will comprise Dr. Khalil Charif, Managing Partner, which construction is advancing on
International Foundation Group. the tower. “We are pleased to report
residential and business units, retail outlets, An integrated master community that construction on the Elite Resi-
international schools, hospitals, shopping spread across 811 hectares, Jumeirah dence continues to progress accord-
malls, connected parks and boulevards, sports Village is a mixed-use development ing to our schedule. It is exciting to
that when complete will comprise see the transformation of this project
fields, mosques, cafes and restaurants residential and business units, retail from a concept on paper to a tangi-
outlets, international schools, hos- ble structure that has now reached
appointed a team of industry profes- Investments. pitals, shopping malls, connected 15 storeys. We are confident that con-
sionals comprising site managers, Located centrally within Jumei- parks and boulevards, sports fields, struction will continue to progress at
project engineers and supervisors rah Village, near the Cultural Centre mosques, cafes and restaurants. a good rate for the remaining floors.”
to ensure that the completion of and Central Park, ‘Gardenia I & II’ is Construction on the ultra-luxuri- The Elite Residence offers inves-
the first phase will proceed in ac- splendidly designed and meticu- ous Elite Residence project in the tors a selection of stunning one- and
cordance with the schedule set by lously crafted to offer residents a Dubai Marina, under development two-bedroom apartments, three-
the developer. The success of the charming yet authentic Mediter- by Tameer, has now reached Level and four-bedroom penthouses,
project’s recent unveiling and the ranean experience. Incorporating a 15. Situated in the heart of Dubai and villas on the 82nd and 83rd
positive response it generated from mixture of residential, commercial Marina the 91-storey, 380-metre tall floors – all featuring the most chic
potential clients has influenced the and retail spaces, the project fea- Elite Residence is aptly named, offer- and stylish fixtures and cutting-
decision to proceed with construc- tures residential apartments includ- ing residents the last word in luxury, edge technology.
tion. ing studios, one-bedroom and two-
“The property sector is under- bedroom units and loft apartments,
going a tentative period due to with retail units on the ground floor.
uncertainties in regional and global The five-storey residential devel-
economies. We are thus pleased opment has been designed by Di-
with the warm response this project mensions Engineering Consultants
has received, which provides us with (DEC) and incorporates stuccoed
the motivation to fast-track develop- walls, tiled roofs, rustic arches, solid
ment. The uniqueness and quality wrought iron balcony grills, carved
DUBAI REAL TIMES

that we have designed into ‘Garde- doors, ornamental spiral columns,

nia I & II’ will add to Jumeirah Vil-
lage’s growing reputation as a highly
desirable mixed-use destination. Our
strategic partnership with Interna-
tional Foundation Group also affirms
our commitment to maintaining the
highest development standards for
46 this project,” said Rizwan Shaikhani,
Joint Managing Director of Memon
Elite Residence project in the Dubai Marina, under development by Tameer
marble flooring and thematic and
floral designs to create a Mediterra-
nean ambience.
“It is critical that the proper foun-
dations are put in place during the
initial phases of property construc-
tion, which is why we have been
chosen to perform shoring and ex-
cavation for this major project. Our
 FACILITIES & SERVICES

Reduced service charges at JBR

Salwan LLC has revised downwards the service charge at Jumeirah Beach Residence

T
he charge is reduced to
Dh15.32 per square feet
with retrospective effect
from September 2008. The
revised service charge includes the
payment for community utilities at
Dh7 and other expenses at Dh8.32.
Salwan's announcement follows a
successful negotiation with service
suppliers after receiving an approv-
al from the Real Estate Regulatory
Agency (RERA). The company aims
to ensure delivering high quality ser-
vices in maintaining the common ar-
eas across the projects, as well as the
indoor carpark for 12,000 automo-
biles, landscaped areas, district cool-
ing plant, bridges and infrastructure
works within the development.
As an environmentally-conscious
entity, Salwan has also implemented
numerous initiatives to use limited
energy, water and other resources
for reducing operational costs at the
development.
Saeed Bushalat, CEO of Salwan,
said: 'We will continue to provide our
clients with world-class services. JBR
is a very special community com-
bining great amenities, including a
beachfront shopping promenade,
making it one of the most exciting
developments in Dubai. As part of
our sincere efforts to provide timely,
quality and cost-effective property
management solutions to our cli-
ents, Salwan has renegotiated the
service charges with our suppliers
at JBR.
We want to assure all clients that
our efforts to raise the bar on our
services while maintaining a 'lifestyle
of a lifetime' at the development will
continue to remain our core prior-
ity.”
Marwan bin Ghalita, CEO of Real
Estate Regulatory Agency, said: 'The
proactive stance undertaken by Sal-
wan to minimise property manage-
ment costs at Jumeirah Beach Resi-
dence is commendable. We have
begun assessing facilities manage-
ment charges in freehold properties
to further strengthen the relation-
ship between real estate developers,
property management companies
and the home-owners. We are put-
ting a system in place that will moni-
tor and control service charges and
keep the rates at reasonable levels
for both owners and developers in
order to maintain a successful man-
agement of the properties and facili-
ties.”
RERA mandates a skeletal struc-
ture for property management that
includes facilities management,
administration charges, building
security, utility charges (inclusive of
electricity, water, A/C sewage and
common area charges), as well as
area service charges and sinking
funds. Each property management
company is directed by RERA to pro-
vide a detailed break up for each of
these elements to their clients and
homeowners.
Salwan's current sphere of op-
erations include residential and com-
mercial units such as Mirdiff Villas,
Jumeirah Beach Residence, Cordoba
Villas, Al-Khail Gate Community, Cen-
tral Towers, Al Razi Residence, and
Office Park at Dubai Internet City. The
company will soon add to its portfo-
lio top-rated properties at Executive
Towers in Business Bay, The 558 Com-
munity, Al Waha villas, and The Villa.

F&M energy-saving solutions

T
he onset of summer tem-
peratures have prompted
companies to offer residents
in the UAE a means to signifi-
cantly reduce energy costs by increas-
ing the efficiency of air-conditioning.
GreenWave Capital has tied up with
integrated facilities and energy man-
agement provider, Emrill, to install
a villa or apartment’s air condition-
ing equipment, while reducing en-
ergy consumption. Even better for
both tenants and property owners,
PermaFrost requires no mechanical
modifications or alterations to the
system and minimal downtime to
install.
Emrill’s Divisional Manager, Nev
DUBAI REAL TIMES

its PermaFrost solution in villas and
apartment buildings across the UAE.
With residents increasing concern
about air-conditioning performance
and corresponding energy cost, this
is a significant value-added service
for residents. With a one-time ap-
plication that lasts the lifetime of
an A/C system, Permafrost offers an
environmentally-sound solution that
enhances the overall performance of
Patterson explained: “Over time, resi-
dents find that the performance of
their AC units drops off. This is due to
small leaks in gas, worn compressors
and oil fouling of refrigerant pipes,”
continued Patterson. Oil fouling is
the inevitable instance when the
compressor’s lubricating oil mixes
with refrigerant altering the chemical
composition of both, ultimately lead-
ing to system inefficiency. Oil fouling
Diagram showing Perma Frost replacing the non-conductive layer of oil with highly
charged thermo-conductive compounds, preventing oil build-up, increasing heat
transfer, reducing energy consumption and increasing the air conditioner’s efficiency.
can cause a loss of about seven per and more cost-effective home.”
cent efficiency in the first year and “Residents will see a return on
degradation will peak at 20 percent their investment in only one year,
– 30 percent. “While regular servicing compared to other energy saving
can prevent leaks and wear and tear, investments where the returns are
PermaFrost is the only solution to evident after almost 3-5 years,” said 47
clear oil fouling and increase the flow Connor McCaffery, Chief Executive
of refrigerant gas, resulting in a cooler Officer, GreenWave Capital.
 MARKET TRENDS
UPDATES // LAWS&&ANALYSIS
REGULATIONS
//
Q&A
Q. I work in a managerial position
for a non-UAE finance company
and upon following several leads,
we are interested in providing our
lending services to companies in
Dubai. Can we provide mortgage
services?
A. Law No. 14 of 2008 concerning
mortgages introduced procedures
in relation to borrowing, including
stipulating what entities can pro-
vide financing. Only banks, compa-
nies and financial institutions that
are registered and licenced to pro-
vide property finance in the UAE by
the UAE Central Bank in accordance
with the law, can provide mortgage
services. Accordingly your com-
pany must comply with the Law
before undertaking any mortgage
activities.
Q) I invested in an off-plan proper-
ty some time ago but understand
that no construction works have
commenced yet. On signing the
deposit slip, I provided a couple of
post-dated cheques to cover the
initial two instalments. The first
cheque has been cashed and the
second cheque is due to be cashed
DUBAI REAL TIMES
by the developer at the end of
May. Given the lack of progress, I
am tempted to cancel the second
cheque. What are the implica-
tions if I do this?
A. Dishonouring cheques is a crimi-
nal offence under the Commercial
Code and the Penal Code. If you do
48 dishonour the cheque, this would
likely result in imprisonment for
Your questions answered by
Jacqueline Latham, DLA Piper
Middle East LLP
a term ranging from one month
to three years. Further, a fine be-
tween Dh100 and Dh30,000 can
be imposed. You may also be in
breach of your contractual obliga-
tions and could be exposed to civil
penalties. It is never advisable to
dishonour a cheque.
Q. I am looking to buy a property
in Dubai and am currently in the
financing stages. I have been ad-
vised that I will have to register any
mortgage taken over the property
and I am concerned about the ad-
ditional costs that will be incurred
upon registration. Will I have to
register the mortgage and if so,
what are the standard fees?
A. Yes, you must register the mort-
gage, as under Law No. 14 of 2008
concerning mortgages, a mortgage
is not valid unless it is registered.
The fee to register a mortgage is a
percentage based against the value
of the loan and is currently set at 0.25
per cent, capped at Dh1,500,000.
You should also note that if the
property which you are interested
in purchasing is an off-plan unit, it
must be registered on the Interim
Register in accordance with Law No.
13 of 2008 regulating the interim real
estate register, in order to act as se-
curity for the advance.
Q. I purchased an apartment off-
plan in June 2008. I understand
that the developer was required
to register my sale in the Interim
Register before October 31 2008. I
discovered that the developer reg-
istered the sale in December 2008.
Is the sale therefore void?
A. Under Law No. 13 of 2008, Article
3(2) provides that the developer
should approach the Land Depart-
ment to get the sale registered
within 60 days after the law came
into effect (i.e. before 31 October
2008). However, the obligation on
the developer under this Article is
to "approach" the Land Department
before October 31 2008 and not to
"register" the sale before October 31
2008. If the developer did not ap-
proach the Land Department within
60 days, it may have contravened
the law, but it does not necessarily
follow that the sale is void as that
penalty is not specifically provided
for in Article 3(2). However, the de-
veloper may be liable for other pen-
alties specified under Article 13 of
the law.
Jacqueline Latham is a legal consul-
tant (England and Wales qualified),
Real Estate at DLA Piper Middle East
LLP, Dubai