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News Brief 53 ASSET MANAGEMENT SALES LEASING VALUATION & ADVISORY SALES MANAGEMENT OWNER ASSOCIATION NEWS BRIEF 53 SUNDAY, 31 DECEMBER 2017 RESEARCH DEPARTMENT DUBAI | ABU DHABI | AL AIN | SHARJAH | JORDAN | KSA IN THE MIDDLE EAST FOR 30 YEARS © Asteco Property Management, 2017 asteco.com ASSET MANAGEMENT SALES LEASING VALUATION & ADVISORY SALES MANAGEMENT OWNER ASSOCIATION REAL ESTATE NEWS UAE / GCC WHY IT MAKES SENSE TO INVEST IN A DESIGN-LED HOME IN 2018 EY: HOTELS IN MENA TO CONTINUE SEEING SOFTER PERFORMANCE ROOM RATES DECLINE IN MIDEAST HOTELS HOW VAT WILL IMPACT FREEZONE COMPANIES UAE COMPANIES SHOULD STRIVE FOR EFFECTIVENESS NOT JUST EFFICIENCY IN 2018 UAE REAL ESTATE TO CONTINUE DOWNWARD ADJUSTMENTS IN 2018 PROPERTY YEAR IN REVIEW: TENANT’S MARKET AND OFF-PLAN TREND TO STAY INTO 2018 IS THERE A FORMAL WAY FOR A LANDLORD TO WITHDRAW AN EVICTION NOTICE? SAUDI ARABIA'S JADWA REIT ACQUIRES TWO PROPERTIES IN MAKKAH TOURISM YEAR IN REVIEW: DUBAI STILL ON TRACK TO ATTRACT 20 MILLION VISITORS BY 2020 WHY IT'S TIME TO SWAP YOUR RENT CHEQUES FOR A MORTGAGE 5 REAL ESTATE TRENDS TO WATCH OUT FOR IN 2018 VAT IN OMAN POSTPONED UNTIL 2019 BAHRAIN ANNOUNCES EXCISE TAX ON CIGARETTES, ENERGY DRINKS FROM DECEMBER 30 DUBAI CONCERNS ABOUT EXCESS HOME SUPPLY IN DUBAI IS MISPLACED A YEAR WHEN OFF-PLAN TRUMPED EVERYTHING ELSE PHASE 1 OF DUBAI’S BUILDING CLASSIFICATION IS DONE NO SPIKE IN SIGHT FOR DUBAI PROPERTY PRICES IN 2018 RISING IN DUBAI: NEW IMAGES EMERGE OF WORLD'S NEXT TALLEST STRUCTURE DEIRA’S HISTORIC GOLD SOUQ SET TO GET A NEW SPARKLE ARABTEC UNIT WINS DH1BN CONTRACT FOR DUBAI RESIDENTIAL COMMUNITY ENBD REIT BUYS RETAIL CENTRE FOR DH210M IN DUBAI DUBAI | ABU DHABI | AL AIN | SHARJAH | JORDAN | KSA IN THE MIDDLE EAST FOR 30 YEARS © Asteco Property Management | 2017 | asteco.com Page 2 ASSET MANAGEMENT SALES LEASING VALUATION & ADVISORY SALES MANAGEMENT OWNER ASSOCIATION REAL ESTATE NEWS UNION PROPERTIES TO IPO UNIT IN SECOND HALF OF 2018 DANUBE ADJUSTS PROJECT LAUNCH TO TEST VAT WATERS AL MAZAYA UNDERLINES IMPORTANCE OF INVESTMENT IN DUBAI'S MEDIUM HOUSING SECTOR DUBAI SECONDARY MARKET ACTIVITY UP DESPITE FALLING RENTAL YIELDS IT'S NOW OR NEVER FOR PROPERTY BUYERS IN DUBAI ABU DHABI ABU DHABI HOTEL GUESTS UP 16% IN NOVEMBER ABU DHABI BUILDING COMPLETIONS UP 3.6% IN Q3 NORTHERN EMIRATES IHG OPENS FIRST MIDDLE EAST INTERCONTINENTAL RESORT IN FUJAIRAH BUY A BUILDING IN SHARJAH FOR PRICE OF A DUBAI VILLA FIRST SHOPPING MALL OPENS IN AL MADAM SHARJAH’S ACHIEVEMENTS SET STAGE FOR FURTHER ECONOMIC GROWTH INTERNATIONAL BONDS STRUCTURED AROUND US HOME LOANS ARE HOT PROPERTY CHINESE COURT AUCTIONS SKYSCRAPER FOR $84M MALDIVES PROMISES HIGH RETURNS TO FOREIGN INVESTORS HOLIDAY SHOPPERS BREAK SPENDING RECORDS, SALES UP 4.9% INDIAN DEVELOPER HDFC'S $1BN FUND, BACKED BY ABU DHABI REACHES FINANCIAL CLOSE INDIA TO BECOME WORLD'S FIFTH LARGEST ECONOMY NEW HOME SALES IN U.S. HIT 10-YEAR HIGH IN NOVEMBER DUBAI | ABU DHABI | AL AIN | SHARJAH | JORDAN | KSA DEFINING LANDSCAPES SINCE 1985 © Asteco Property Management, 2017 asteco.com Page 3 ASSET MANAGEMENT SALES LEASING VALUATION & ADVISORY SALES MANAGEMENT OWNER ASSOCIATION WHY IT MAKES SENSE TO INVEST IN A DESIGN-LED HOME IN 2018 Wednesday, December 27, 2017 Does über-chic living with smart layouts, Silk Road-inspired interiors and a view of the Burj Khalifa with acres of lush gardens sound tempting? Then the sheer joy of apartment living at Dubai-based design-led boutique residential developer Ellington’s Wilton Terraces II is sure to appeal. The community was launched recently on the back of huge demand for homes at its earlier twin tower project, Wilton Terraces I. Ellington Wilton Terraces Featuring two 12-storeyed towers, Wilton Terraces II is located in Mohammed Bin Rashid Al Maktoum City The apartments at this newly launched 12-storey twin towers are practical and modern family homes that beckon with free-flowing spaces and large windows, letting natural sunlight flood all the rooms. A typical residence at Wilton Terraces II features a family living and dining area, bedrooms designed for high functionality, an efficiently designed kitchen and spacious bathrooms with floor-to-ceiling mirrors, offering a refined, contemporary space that any family will be delighted to call home. Located in Mohammad Bin Rashid Al Maktoum City, off Al Khail Road, and just three kilometres away from Burj Khalifa and Downtown Dubai, Wilton Terraces II features 283 one- and two-bedroom residences ranging from 806 to 838 sq ft for one bedroom and from 1222 to 1235 sq ft for two. Every apartment overlooks landscaped gardens and calming water bodies. Ellington Wilton Terraces The neutral palette of the bedroom creates a warm and stylish atmosphere, perfect for a relaxed lifestyle When it comes to interiors, understated elegance runs as a theme throughout the project, complemented by rich textures and bold patterns inspired by the Silk Road period. Designed with both young urban professionals and families in mind, the development integrates modern and classic design elements and creative space-saving solutions to develop the perfect setting that meets a family’s requirements as well as aesthetics. “Expats in Dubai are aware of new trends in interior design and finishing standards,” says Laura Bielecki, Senior Manager – Interior Design at Ellington. “Our interiors for Wilton Terraces II are inspired by the trends in condos and towers in New York City, Los Angeles, Miami and London. Finding a contractor for small refurbishments in an apartment can be strenuous and expensive, so it’s great for owners to have a turnkey product that’s ready to move in with zero snags and full customer satisfaction.” Contemporary, simple and clean lines, warm textures and clever furnishings dominate the design narrative of this development. Each apartment takes full advantage of natural light and uses neutral colour tones such as beige, white and grey, making every space appear open and airy. Fitted with separate laundry cabinets, built-in wardrobes and storage units for the bathrooms, Ellington knows how to maximise every square foot of an apartment. Ellington Wilton Terraces With large mirrors and quality fixtures and fittings, every bathroom is designed to function as a haven for indulgence. “Space saving starts with an efficient floor plan,” explains Laura. “By minimising corridors and DUBAI | ABU DHABI | AL AIN | SHARJAH | JORDAN | KSA DEFINING LANDSCAPES SINCE 1985 © Asteco Property Management, 2017 asteco.com Page 4 ASSET MANAGEMENT SALES LEASING VALUATION & ADVISORY SALES MANAGEMENT OWNER ASSOCIATION planning a unit based on an occupant’s storage and living needs, we created a great plan that can make up for small square footage.” The lean kitchen layout at the Wilton Terraces II allows you to move freely and reach all areas of the room while cooking with ease. Furthermore, custom cabinets, a wide workspace and polished countertops, along with a state- of-the-art refrigerator and smart fixtures will make your time in the kitchen less chaotic. Ellington Wilton Terraces Designed for high functionality, kitchens at Wilton Terraces II come with all modern elements and quality fixtures Designed by the architecture and design firm Perkins+Wills, Ellington has taken an approach to finishes that provides a more tactile and cozy environment, points out Laura: “Wood-look porcelain floor tiles provide a warm and inviting palette, while being practical and low maintenance. We have used quartz for countertops and kitchen backsplashes, which are durable, warm in colour and easy to clean. All cabinets are laminated and of matte lacquer providing a unique palette for your home.” The furniture of public areas, including the lobby, at Wilton Terraces II is also design-led, juxtaposing wood, fabric and leather upholstery with integrated power points for multipurpose use. “Toss cushions, accent carpets and multipurpose tables create a warm and inviting décor,” says Laura. “Our strategy is to make the public spaces an extension of your home. You will find here a library, and a few puzzles, games and magazines for you to use. Our lobbies by extension are not simply meant to walk through but rather to live in.” The towers of Wilton Terraces II are interconnected by a single podium at the base, creating a unique exterior while enhancing community living. Other special features in this development are a luxurious recreational area, a swimming pool, children’s pool and plenty of greenery with a dedicated BBQ zone. Source: Gulf News Back to Index DUBAI | ABU DHABI | AL AIN | SHARJAH | JORDAN | KSA DEFINING LANDSCAPES SINCE 1985 © Asteco Property Management, 2017 asteco.com Page 5 ASSET MANAGEMENT SALES LEASING VALUATION & ADVISORY SALES MANAGEMENT OWNER ASSOCIATION EY: HOTELS IN MENA TO CONTINUE SEEING SOFTER PERFORMANCE Tuesday, December 26, 2017 Hotels in the Middle East and North Africa (Mena) are expected to continue seeing softer performance over the coming months, though a few cities are likely to see improvements due to annual exhibitions and events. This is according to the latest report from global consultancy EY, which said internationally-branded four- and five-star hotels in the Middle East saw mixed fortunes in October in terms of occupancy rates and average room rates. Hotels in Abu Dhabi, for example, saw higher occupancy and an increase in average room rates, while those in Dubai saw a dip in occupancy. According to the EY report, Abu Dhabi’s hospitality market saw an increase in occupancy by 8.9 per cent, coupled with an increase in room rates to $128 in October 2017 from $125 in the same month in 2016. This resulted in an increase in revenues per available room (RevPAR — an industry benchmark for performance) by 14 per cent year- on-year. EY attributed the increase in occupancy during the month to events such as the Abu Dhabi cruise season, which runs from October to May, and the World Skills competition.
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