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Dubai Review 2020 – 2021 Outlook
Dubai Review Outlook www.valustrat.com ValuStrat Price Index – VPI Dubai Residential Base: January 2014=100 ValuStrat Price Index – VPI Dubai Office Base: January 2015=100 All prices are quoted in UAE Dirhams unless otherwise stated Sales and Rent performance are measured on a quarterly basis while hotel performance are on yearly basis 2020 Review FIRST QUARTER REVIEW 2020 VPI Residential VPI Residential VPI Office Capital Values Rental Values Capital Values 73.3 69.6 63.1 -10.1% -8.9% -14.7% Y-o-Y Y-o-Y Y-o-Y Residential Ready Residential Ready Ticket Size Sales Volume 1.71m 3,491 AED Transactions 0.6% -0.3% Q-o-Q Q-o-Q Residential Off-Plan Residential Off-Plan Ticket Size Sales Volume 1.45m 5,224 AED Transactions -8.6% -26.3% Q-o-Q Q-o-Q Office Sales Office Sales Office Ticket Size Volume Rent 0.92m 269 863 per sq m AED Transactions AED -17.9% 11.2% -5.2% Q-o-Q Q-o-Q Q-o-Q Jan COVID - 19 PANDEMIC • The VPI – residential capital values for Dubai as of March 2020 stood at 73.3 points, dipping 0.9% since February, -10% annually. 1W • First confirmed case in the UAE recorded on 29th January • The Dubai VPI for residential rental values during Q1 2020 stood at 69.6 points, • Suspension of all flights except cargo, halting operation of major public mass declining 1.7% quarterly and 8.9% annually. On an annual basis, apartment and transport (Dubai Metro and Tram) villa asking rents fell 9.4% and 8% respectively • Countrywide curfew and disinfection drive started • VPI for Dubai’s office capital values stood at 63.1 points, suggesting that -
Urban Megaprojects-Based Approach in Urban Planning: from Isolated Objects to Shaping the City the Case of Dubai
Université de Liège Faculty of Applied Sciences Urban Megaprojects-based Approach in Urban Planning: From Isolated Objects to Shaping the City The Case of Dubai PHD Thesis Dissertation Presented by Oula AOUN Submission Date: March 2016 Thesis Director: Jacques TELLER, Professor, Université de Liège Jury: Mario COOLS, Professor, Université de Liège Bernard DECLEVE, Professor, Université Catholique de Louvain Robert SALIBA, Professor, American University of Beirut Eric VERDEIL, Researcher, Université Paris-Est CNRS Kevin WARD, Professor, University of Manchester ii To Henry iii iv ACKNOWLEDGMENTS My acknowledgments go first to Professor Jacques Teller, for his support and guidance. I was very lucky during these years to have you as a thesis director. Your assistance was very enlightening and is greatly appreciated. Thank you for your daily comments and help, and most of all thank you for your friendship, and your support to my little family. I would like also to thank the members of my thesis committee, Dr Eric Verdeil and Professor Bernard Declève, for guiding me during these last four years. Thank you for taking so much interest in my research work, for your encouragement and valuable comments, and thank you as well for all the travel you undertook for those committee meetings. This research owes a lot to Université de Liège, and the Non-Fria grant that I was very lucky to have. Without this funding, this research work, and my trips to UAE, would not have been possible. My acknowledgments go also to Université de Liège for funding several travels giving me the chance to participate in many international seminars and conferences. -
The Height of Luxury in the Heart of Palm Jumeirah
The height of luxury in the heart of Palm Jumeirah The Palm Tower is an awe-inspiring landmark soaring majestically 240 metres from the heart of the world-famous Palm Jumeirah. Discover elegant design, luxury living, a convenient location and access to world-class amenities. The Palm Tower Residences. This is elevated living. 2 3 This is elevated living 4The Palm Tower 5 ABOUT DUBAI Cosmopolitan living in a spectacular destination Dubai, in the United Arab Emirates, is a cosmopolitan city that blends modern living with traditional Arabian values. Strategically located between the East and West, Dubai is a global commercial hub with two international airports, one that is the world’s busiest hub for international travel and another en-route to becoming the world’s largest airport. The spectacular metropolis is one of the fastest growing cities in the world and is home to many famous landmarks, including the iconic Palm Jumeirah. With thriving residential communities and majestic waterfront developments, as well as exceptional shopping, leisure and entertainment attractions, Dubai offers an unrivalled quality of life and is one of the most sought-after destinations for business, living and tourism. Dubai presents a range of attractive investment opportunities, with over $15.7 billion* in real estate transactions conducted by people from more than 217 nationalities during the first quarter of 2018, and continues to offer a safe return on investment. *Source – Dubai Land Department Palm Jumeirah A vibrant metropolis filled with incredible opportunities Dubai Creek 6 ABOUT DUBAI 7 PALM JUMEIRAH A distinctive lifestyle, right on your doorstep Palm Jumeirah has some of the world’s most stunning residential properties, retail attractions and leisure facilities, as well as over 23 luxury hotels and resorts operated by some of the most prestigious names in hospitality, all across three main areas - the trunk, crescent and fronds. -
Implementing Sustainable Construction Practices in Dubai – a Policy Instrument Assessment
Master Thesis in Built Environment (15 credits) Implementing Sustainable Construction Practices in Dubai – a policy instrument assessment Marco Maguina Academic Supervisor: Catarina Thormark Spring Semester 2011 Master Thesis in Built Environment Implementing Sustainable Construction Practices in Dubai – a policy instrument assessment Author: Marco Maguina Faculty: Culture and Society School: Malmö University Master Thesis: 15 credits Academic Supervisor: Catarina Thormark Examiner: Johnny Kronvall Maguina, Marco 2 Master Thesis in Built Environment SUMMARY Recognized as one of the main obstacles to sustainable development, climate change is caused and accelerated by the greenhouse gas (GHG) emissions generated from all energy end-user sectors. The building sector alone consumes around 40% of all produced energy worldwide. Reducing this sector’s energy consumption has therefore come into focus as one of the key issues to address in order to meet the climate change challenge. Implementing sustainable construction practices, such as LEED, can significantly reduce the building’s energy and water consumption. Prescribing these practices may however encounter several barriers that can produce other than intended results. Since the beginning of 2008 Dubai mandates a LEED certification for the better part of all new constructions developed within the emirate, nevertheless the success of this regulation is debatable. This thesis identifies the barriers the introduction of the sustainable construction practices in Dubai faced and analyses the reasons why the regulatory and voluntary policy instruments were not effective in dealing with these barriers. Understanding these barriers as well as the merits and weaknesses of the policy instruments will help future attempts to introduce sustainable construction practices. To put the research into context a literature review of relevant printed and internet sources has been performed. -
Dubai 2020: Dreamscapes, Mega Malls and Spaces of Post-Modernity
Dubai 2020: Dreamscapes, Mega Malls and Spaces of Post-Modernity Dubai’s hosting of the 2020 Expo further authenticates its status as an example of an emerging Arab city that displays modernity through sequences of fragmented urban- scapes, and introvert spaces. The 2020 Expo is expected to reinforce the image of Dubai as a city of hybrid architectures and new forms of urbanism, marked by technologically advanced infrastructural systems. This paper revisits Dubai’s spaces of the spectacle such as the Burj Khalifa and themed mega malls, to highlight the power of these spaces of repre- sentation in shaping Dubai’s image and identity. INTRODUCTION MOHAMED EL AMROUSI Initially, a port city with an Indo-Persian mercantile community, Dubai’s devel- Abu Dhabi University opment along the Creek or Khor Dubai shaped a unique form of city that is con- stantly reinventing itself. Its historic adobe courtyard houses, with traditional PAOLO CARATELLI wind towers-barjeel sprawling along the Dubai Creek have been fully restored Abu Dhabi University to become heritage houses and museums, while their essential architectural vocabulary has been dismembered and re-membered as a simulacra in high-end SADEKA SHAKOUR resorts such as Madinat Jumeirah, the Miraj Hotel and Bab Al-Shams. Dubai’s Abu Dhabi University interest to make headlines of the international media fostered major investment in an endless vocabulary of forms and fragments to create architectural specta- cles. Contemporary Dubai is experienced through symbolic imprints of multiple policies framed within an urban context to project an image of a city offers luxu- rious dreamscapes, assembled in discontinued urban centers. -
Inside View Dubai 2020
INSIDE VIEW DUBAI 2020 PAGE 1 Overview few cities could manage both at The upcoming Dubai Expo 2021 the world’s tallest building at over the same time. is a major private and public one kilometre high and the future sector focus, and the project and world's largest mall. The largest However, Dubai is not one for its significant investments are China town in the Middle East will standing still. Over the last year, coming to fruition. The six-month also feature here. Dubai, and the UAE, has continued event, the first to be held in the to improve its ease of doing Middle East, is expected to attract In the mainstream market, business by implementing a new an estimated 25 million visitors. competition is fierce and law that allows 100% on-shore Key infrastructure improvements developers continue to offer foreign business ownership for 122 include the Metro extension and an array of sophisticated dbb activities across 13 sectors. the continuing development of developments and incentives to entice buyers. Opportunities Visa regulations have also been Al Maktoum International airport, which once complete will have include Emaar Beachfront, Port De eased. New legislations include La Mer, Central Park at City Walk the introduction of five year capacity to handle over 200 million passengers annually. and Madinat Jumeirah Living. This retirement visa for those over influx of supply has put downward 55 years old with an investment These developments will help pressure on values but has also of AED 2 million or more in the the fabric of Dubai to continually enhanced affordability; allowing property market, income in excess mature and attract an even families to upsize, first time buyers of AED 20,000 per month or more diverse group of buyers to to enter the market, and an array those with more than AED 1 million the market. -
L U X H a B I T a T
PRESS RELEASE L U X H A B I T A T Q2 DUBAI PRIME RESIDENTIAL MARKET REPORT DUBAI, 19TH JULY 2016 Despite the global political turmoil caused by Brexit and other geo-political events, Dubai’s Prime Residential Market remains stable in the second quarter of the year reflected by a modest 0.03% Growth. Dubai Marina remains top-performing prime community in Q2. Dubai Marina While the overall residential real estate market taking a further slump by 13% over the last quarter, the prime residential real estate market remained stable with a slight increase in volume of 0.03% according to data by REIDIN and analysis by Luxhabitat. Prime residential properties are those properties that lie on the high end spectrum of the Dubai residential market. Luxhabitat recognises 10 key areas that form part of this classification; the areas are Arabian Ranches, Downtown Dubai, DIFC, Dubai Marina, Emirates Hills, Jumeirah, Jumeirah Beach Residence, Jumeirah Islands, Palm Jumeirah, The Lakes, Springs and Meadows, & Victory Heights. Jason Hayes, Head of New Developments at Luxhabitat said, “I am delighted and not at all surprised to see prime market sales volume up by 0.3%. This figure may not be seen as staggering growth but it clearly demonstrates stability in Dubai’s prime market. Q2 has seen some prime new developments released to the market and investor appetite has proven to be robust. Emaar’s 52/42 in Dubai Marina has proven to an incredible success with over 90% + of the development sold out. The Dubai Hills Estate Development at Mohammad Bin Rashid City L U X H A B I T A T 1 PRESS RELEASE has gone from strength to strength in Q2 with projects such as Fairways Vistas selling out. -
Dubai: Uno Spunto Per Una Nuova Lettura Dello Sviluppo Del Territorio
NICOLETTA VARANI Dubai: uno spunto per una nuova lettura Dello sviluppo Del territorio DUbAI: Uno SpUnTo pER UnA nUovA LETTURA DELLo SvILUppo DEL TERRIToRIo. Dubai, segnata dal contrasto tra la cultura araba e le caratteristiche contraddizioni delle metropoli moderne, è ricca di fascino per la sua posizione tra deserto e mare, e ambita meta del turismo internazionale per lo shopping, il lusso e l’albergo più elegante del mondo. Anche se alcuni studiosi sostengono che non ha e non potrà mai avere una propria identità, attualmente Dubai, capitale dell’omonimo emirato, viene considerata una città medio-orientale con una cultura, una religione, una lingua una “mentalità” decisamente diverse da quelle occidentali. negli ultimi anni Dubai è divenuta famosa nel mondo sia per lo sviluppo di progetti architettonici avveniristici, inconcepibili altrove, sia per la riuscita del processo di diversificazione economica, tanto che la tangibile ricchezza di Dubai non proviene più dal petrolio, ma da una fiorente economia che poggia su quattro settori: lo sviluppo del commercio tradizionale, il ruolo di “rappresentante commerciale”, lo sviluppo turistico e gli ingenti investimenti nella tecnologia digitale. DUbAI: A STARTIng-poInT FoR A nEW TERRIToRy DEvELopMEnT InTERpRETATIon Dubai, identified by contrast between Arab culture and typical modern metropolis’ contradictions, is full of glamour, due to its sea and desert sighting position, besides being an international tourism very sought after destination, for shopping, luxury and the world’s most sumptuous hotel. Though some scientists maintain that it has no identity and that never will have one, for the moment being Dubai, capital of the homonymous emirate, is being looked upon as a Middle East city with culture, religion, language and mentality decidedly unlike the occidental ones. -
Nakheel Properties for Rent in International City
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Dubai Tram: (A Safe and Smooth Transport for All) 591 Thousand Users for Completion of 6 “Roads” & “Salik” Apps Garages for Trucks
The Official Monthly Magazine of Dubai`s RTA Issue No. 80 February 2015 Dubai Tram: (A Safe and Smooth Transport for All) 591 thousand users for Completion of 6 “roads” & “salik” apps garages for trucks Safety of Passengers Since its inception, the RTA adopted roads safety and paid much attention and care to it, as safety is one of the most important pillars of our business. The RTA vision includes both principles of security and ease and thus its vision is (A Safe and Smooth Transport for All). Commitment to the procedures of security and safety of passengers in mass transit is one of the most fundamental values that cannot be compromised or relinquished under any circumstances. Based on this well-established strategy, the RTA has adopted additional preventive measures to raise the level of traffic safety at intersections controlled by light signals on the path of Dubai Tram in which the tram movement overlaps with the movement of vehicles or in which the vehicle traffic parallels to the tram path in the same direction. These measures included preventing some turnings to the left towards the tram route at six intersections in the marina and Jumeirah Beach Towers. The RTA put other alternatives for these intersections including the use of nearby circumventions and junctions that lead to the required destination. Ensuring the safe use of the roads network and mass transit means requires cooperation from all the road users whether the vehicle drivers or pedestrians, by full compliance with the traffic rules as well as commitment to the signboards and speed limits, particularly on the roads adjacent to the tram route. -
Island Studies Journal, Vol. 10, No. 2, 2015, Pp. 181-196 Futures, Fakes
Island Studies Journal, Vol. 10, No. 2, 2015, pp. 181-196 Futures, fakes and discourses of the gigantic and miniature in ‘The World’ islands, Dubai Pamila Gupta University of the Witwatersrand Johannesburg, South Africa [email protected] ABSTRACT: This article takes the “island” as a key trope in tourism studies, exploring how ideas of culture and nature, as well as those of paradise (lost) are central to its interpretation for tourists and tourist industries alike. Increasingly, however, island tourism is blurring the line between geographies of land and water, continent and archipelago, and private and public property. The case of ‘The World’ islands mega project off the coast of Dubai (UAE) is used to chart the changing face and future of island tourism, exploring how spectacle, branding and discourses of the gigantic, miniature, and fake, alongside technological mediations on a large- scale, reflect the postmodern neoliberal world of tourism and the liquid times in which we live. Artificial island complexes such as this one function as cosmopolitan ‘non-places’ at the same time that they reflect a resurgence in (British) nascent nationalism and colonial nostalgia, all the whilst operating in a sea of ‘junkspace’. The shifting cartography of ‘the island’ is thus mapped out to suggest new forms of place-making and tourism’s evolving relationship to these floating islandscapes. Keywords : archipelago; culture; Dubai; island tourism; nature; ‘World Islands’ © 2015 – Institute of Island Studies, University of Prince Edward Island, Canada Introduction A journey. A saga. A legend. The World is today’s great development epic. An engineering odyssey to create an island paradise of sea, sand and sky, a destination has arrived that allows investors to chart their own course and make the world their own. -
What Is the Importance of Islands to Environmental Conservation?
Environmental Conservation (2017) 44 (4): 311–322 C Foundation for Environmental Conservation 2017 doi:10.1017/S0376892917000479 What is the importance of islands to environmental THEMATIC SECTION Humans and Island conservation? Environments CHRISTOPH KUEFFER∗ 1 AND KEALOHANUIOPUNA KINNEY2 1Institute of Integrative Biology, ETH Zurich, Universitätsstrasse 16, CH-8092 Zurich, Switzerland and 2Institute of Pacifc Islands Forestry, US Forest Service, 60 Nowelo St. Hilo, HI, USA Date submitted: 15 May 2017; Date accepted: 8 August 2017 SUMMARY islands of the world’s oceans, we cover both islands close to continents and others isolated far out in the oceans, and the This article discusses four features of islands that make full range from small to very large islands. Small and isolated them places of special importance to environmental islands represent unique cultural and biological values and the conservation. First, investment in island conservation environmental challenges of insularity in its most pronounced is both urgent and cost-effective. Islands are form. However, as we will demonstrate, all islands and island threatened hotspots of diversity that concentrate people share enough come concerns to consider them together unique cultural, biological and geophysical values, (Baldacchino 2007; Royle 2008; Gillespie & Clague 2009; and they form the basis of the livelihoods of Baldacchino & Niles 2011; Royle 2014). millions of islanders. Second, islands are paradigmatic Islands are hotspots of cultural, biological and geophysical places of human–environment relationships. Island diversity, and as such they form the basis of the livelihoods livelihoods have a long tradition of existing within of millions of islanders (Menard 1986; Nunn 1994; Royle spatial, ecological and ultimately social boundaries 2008; Gillespie & Clague 2009; Royle 2014; Kueffer et al.