Dubai-UAE: – Dubai Properties Group’s (DPG) a member of Dubai Holding, said todaythe recently concluded Cityscape 2011 exhibition resulted in a sharp increase in interest in its diverse portfolio of propertiesfrom potential clients.

During the event, DPG received enquiries about both sales andrental opportunities across its portfolio. It also announced the delivery of The Villa - Phase 2 and REMRAAM® projects.

Khalid Al Malik, Chief Executive Officer, DPG said:“Cityscape 2011 provided a platform for us to showcase our existing projects as well as highlight new offerings in our property portfolio.. We are confident that a significant number of the enquiries we received will translate into new business.”

His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, visited the DPG pavilion on the second day of the event. Khalid Al Malik welcomed His Highness Sheikh Mohammed and briefed him on DPG’s residential and commercial communities that are located in some of the most popularareas of Dubai.

Dubai Properties Group has a diverse spectrum of residential, commercial and mixed-use developments in Dubai, that include Business Bay, Jumeirah Beach Residence, Al Waha, Layan, REMRAAM®, and Ghoroob and Shorooq, inMirdif.

Dubai-UAE:  – Mirdif, once considered a distant commuter suburb of Dubai has been transformed, in recent years, into a vibrant township in its own right. The latest addition to Mirdif’s many advantages as an alternative to city living are Dubai Properties Group’s rapidly maturing Shorooq and Ghoroob communities.

With occupancy levels over 80%, both communities have quickly succeeded in attracting families, couples and single people seeking quality, affordable accommodation that is conveniently located within the Dubai city limits.

Shorooq is a gated community that offers relaxed living in spacious villa residences and select apartments with 24-hour security. In addition to quality residential units, offering close proximity to both schools and leisure amenities, Shorooq is ideal for midsized families seeking upmarket housing.

With prime residential apartments to rent, Ghoroob offers a choice of studio, 1, 2 and 3 bed apartments that are ideal for single executives and young families in the market for quality affordable housing solutions.

Both developments are minutes from Mirdif City Centre and Uptown Mirdif shopping malls. Additionally, they are also close to Rashidiya Metro Station and Dubai International Airport and key roadways, a good option for residents that regularly commute between Dubai, Sharjah and Ajman.

The Shorooq and Ghoroob communities reflect DPG’s commitment to delivering sustainable communities that cater to the new market demand for quality and affordability. Homes in the two communities are designed to provide diverse lifestyles and deliver a broad range of property solutions where people can live, work, play and shop.

Dubai-UAE: 29 August, 2011 – Residents, living in communities developed by Dubai Properties Group (DPG), a member of Dubai Holding, have been treated to a series of Emirati inspired cultural events during the Holy Month of Ramadan.

Traditional Ramadan tents were set up within DPG’s Shorooq Mirdiff, Al Khail Gate and Layan developments, where the UAE’s heritage and culture were showcased. Families and other residents were welcomed with Arabic coffee and dates, as well as local delicacies, such as Legemat and Rghagh. Women and children also had the opportunity to learn about the art of henna decoration.

The post-Iftar events, which were held as part of DPG’s commitment to provide opportunities for people to come together within its developments, attracted strong interest and participation from the residents of the communities involved.

Prospective investors’ advantage of value-added features such as language compatibility, multi-media packages, and extensive real estate information

January 31, 2010

Laura Martorano

Leo Sterling (www.leosterling.com), UAE’s premier select property portfolio managers, have revealed that online portals are emerging as the biggest marketing tools in the real estate sector as manifested by the latest trend in internet searches for properties in Dubai, which witnessed a remarkable 45.5 per cent increase according to a recent Rightmove Overseas Research Report. Leo Sterling further pointed out a survey by the National Association of Realtors (NAR), the USA’s largest trade association, showing that up to 90 per cent of real estate buyers are now searching for properties online, as the internet provides a more comprehensive and accessible avenue to a range of value-added features such as multiple photos, videos, mapping functionalities, and host of relevant real estate information.

The new online-led business paradigm has enabled Leo Sterling to build a competitive edge in its target markets with the completion of a comprehensive upgrade of its online portal, which now features up to five languages and provides an expanded range of customer-focused support features such as full search capability for its database, live chat, real estate market advisory, and selling and buying guides. With internet penetration in the UAE poised to reach 70.5 per cent by 2013 with more than 3.77 million people expected to regularly use various online applications, Leo Sterling disclosed that it intends to harness the country’s huge market potential for its online-based services and offerings.

Laura Martorano, CEO and Founder, Leo Sterling, said: “The internet is increasingly becoming an indispensable technology solution not just in offices but in households across the UAE and in our target markets all over the world. It is our goal to complement this trend and help internet-savvy real estate clients and agents to optimise the time they spend online by providing them with value-added real estate services through our newly upgraded portal.”

“Information is a key element in the real estate business; buyers want to gather as much data before they start negotiations with real estate brokers for a particular property. The internet has helped us satisfy this crucial requirement of our clients and we are very pleased to see their enthusiastic response to our new range of online-based support facilities. Our new online offerings reflect Leo Sterling’s continued efforts to develop innovative and dedicated services that benefit clients from all our target markets,” added Martorano.

Powered by a highly experienced, multilingual team of global experts and professionals, Leo Sterling has been aggressively consolidating its market presence through a comprehensive, long-term growth strategy in the UAE’s property sector. Leo Sterling has also established a new regional office in London, seeking to further strengthen its growing client base in the UK and Europe.

Emaar Properties have announced that they expect the merger with three real-estate units of Dubai Holding to be completed within four months. Emaar announced on Friday it intends to merge with Dubai Properties, Sama Dubai, and leisure developer Tatweer. Emaar is 31.2 per cent owned by Dubai’s govern-ment and its projects include the Burj Dubai, which when launched in September will be the world’s tallest building. The news was not entirely unexpected as consolidation in Dubai’s real estate sector was considered increasingly inevitable in light of the market correction currently underway, which has seen prices drop and projects slowed or cancelled. Emaar is listed on the Dubai Financial Market (DFM) general index, and just under 70 per cent publicly owned. The Dubai government is a 31.22 per cent shareholder in the company. It is a key stock on the DFM and avidly tracked by investors, owing to its high profile and importance in the local real estate scene.  According to Emriates Business 24/7, tentative timeline for legal and financial due diligence of the entities is by September; valuation exercise by August; completion of legal documentation by September and agreement with regulatory authorities in respect to the structure and the process by October followed by shareholders approval also by October, said an Emaar statement. There are detailed work streams for each and the overall timelines are current estimates and are subject to change based on progress of the various milestones, it added. Emaar said as the discussions progress, timely updates will be provided to the market.

Emaar and Dubai Holdings with the assistance of their financial advisors, the Royal Bank of Scotland and Merrill Lynch International, are in the process of finalising a thorough assessment of the merits of this proposed consolidation, including the valuation of the various entities as well as the assessment of the potential transaction structures. Discussions are also being held with relevant regulatory authorities.

The proposed consolidation comes within the resolute dedication to transform Dubai into a global city since construction and development is a primary engine of growth. Dubai will thus rise up to the current challenges with hallmark agility and responsiveness. said the statement

The consolidation of these leading real estate entities will not only build on the remarkable achievements in Dubai during the last three decades, but more importantly, marks the start of a new chapter in the annals of real estate globally.

The Emaar statement quoted Mohammed Al Gergawi, Chairman of Dubai Holding, as saying: “Consolidating these three companies with Emaar is a natural progression in the evolution of the Dubai real estate landscape, providing benefits to all stakeholders.

“By joining forces, we will give the larger combined entity an unparalleled platform to optimise opportunities in its domestic and international markets. The combined entity has a clear and concise strategy, better positioning Dubai as a world-leading hub in real estate development and management.”

Mohamed Alabbar, Chairman of Emaar, said: “We believe that there could be exceptional synergies between Emaar and Dubai Holding’s key real estate businesses. These comprehensive discussions are driven by a shared vision regarding the consolidation of our respective visible success stories to date and the creation of a world-class group which would be ideally positioned to dynamically help shape and support the ongoing development of Dubai as a world-leading hub. We look forward to working with Dubai Holding with a view to completing these discussions soon and ensuring value accretion to our existing shareholders.”

SOURCE:
7-DAYS - Merger set for autumn - read full article here
Gulf News:  Consolidation of realty developers could be complete in four months - read full article here
Emirates Business 24/7 - Proposed merger to take about four months, says Emaar -   read article here