DOCSLIB.ORG

Dubai Real Estate Report Q4 2018

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Dubai Real Estate Report Q4 2018 Property Review Dubai Real Estate Report Q4 2018 In the Middle East for over 30 Years DUBAI | HISTORIC REVIEW RECESSION RECOVERY AND GROWTH STABILISATION DOWNTURN 2009 - 2011 2012 - 2014 2015 2016 - 2018 • The Dubai Real Estate market has gone through significant fluctuations • The market began to show signs of • The market peaked in Q2 2014 and • 2016 and 2017 recorded a significant amount of new project over the years. Following the introduction of a decree allowing recovery in 2012 when the Euro Crisis corrected thereafter due to a launches and deliveries resulting in steady declines in sales International Freehold Ownership in 2002, the market recorded and Arab Spring conflict led to Dubai combination of factors such as the prices and rental rates. Whilst new project announcements substantial growth up until Q1 2009. being an attractive alternative and reduction in LTV ratios, low oil prices eased off in 2018, additional supply continued to have a ’safe’ haven to invest and live in. and a strong US dollar. downward effect on rates. • This period was marked by large scale developments and project launches. The Real Estate market was fuelled by both strong demand • In November 2013, Dubai was • Rental rates remained broadly stable • The number and range of incentives increased as Landlords from a rapidly expanding economy and workforce (leading to double awarded to host Expo 2020, which led as the handover of new supply was tried to retain Tenants and increase take-up, whilst digit rental growth and Investor returns) and, more problematically, to growth in market confidence, a rise slower than anticipated. Developers tried to motivate Buyers. Investor speculation. in new project launches and increased sales and rental rates. • Due to the substantial number of • A market driven by Tenants and Investors and an increased • With the onset of the global financial crisis, loss of confidence, erosion of launches witnessed in the previous number of people looking for value-for-money options capital and drying-up of liquidity, speculators were driven from the • Established communities and quality years, concerns of an oversupply and resulted in affordable developments outperforming luxury market. This resulted in significant value contractions and ultimately the buildings experienced increased lack of demand particularly for accommodation in terms of transaction activity. collapse of fundamentals underpinning the Real Estate market. demand and newer developments high-end properties motivated saw improved take-up in line with Developers to focus on the mid and • Developers increasingly offered smaller, off-plan units at • Asteco also recorded noticeable Tenant migration from neighbouring enhancements in infrastructure. affordable housing sector, and to lower price points with flexible post-completion payment Emirates due to decreased rental rates in Dubai. offer incentives such as extended plans, which resulted in an increase in first-time Buyers and • Whilst increased job security and payment plans during the End-users as home ownership became more accessible to • Sales activity remained subdued although transaction levels picked up market confidence prompted Tenants post-completion stage. people who were previously unable to jump on the property slightly by the end of 2011. to upgrade, rapid rental growth also ladder due to high down payments. restricted Residents to move within • Lower deposits stipulated by • Many projects were delayed, put on hold or cancelled. Dubai and thus resulted in an Developers also made off-plan sales a • Initially, this resulted in a drop in demand for completed 240 upsurge in relocations to the more attractive option compared to properties, but the slowdown in new project launches and Northern Emirates. the minimum 25% down payment the increased affordability lead to a rise in transaction 220 required by the Central Bank for a volumes in the secondary market. 200 • In anticipation of the growing Investor mortgaged property. 180 demand, the Dubai Government doubled the land registration fee to 160 4%, and introduced new loan-to-value 140 rules to limit property speculation. 120 100 Index Base 100 = March 2010 80 60 40 Mar Jun Sep Dec Mar Jun Sep Dec Mar Jun Sep Dec Mar Jun Sep Dec Mar Jun Sep Dec Mar Jun Sep Dec Mar Jun Sep Dec Mar Jun Sep Dec Mar Jun SepDec Mar Jun Sep Dec 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 Apartment Sales Villa Sales Office Sales Apartment Rentals Villa Rentals Office Rentals The line graph above demonstrates the average percentage sales and rental trend on a quarterly basis. 2 Dubai Real Estate Report - Q2 2018 DUBAI SUPPLY COMPLETED IN COMPLETED IN EXPECTED IN Q1 - Q3 2018 Q4 2018 2019 9,250 2,835 24,300 APARTMENTS NO. OF UNITS 2,195 550 8,500 VILLAS NO. OF UNITS 1.36 1.5 3.6 OFFICES MILLION SQ.FT. 3 Dubai Real Estate Report - Q4 2018 DUBAI HIGHLIGHTS AND OUTLOOK 2018 HIGHLIGHT 2019 OUTLOOK • Asteco recorded the delivery of nearly 15,000 residential units over the course of • Construction activity during 2019 (for committed projects) is expected to continue SUPPLY 2018, comprising 12,000 apartments and 2,750 villas. unabated, despite a slowdown in new project launches. This is largely due to • Office supply volumes picked up towards the end of the year adding 2.86 million sq.ft. construction-linked and post-completion payment plans, which ensure payments are in total. only received when milestones are met. • As forecasted at the end of 2017, the pace of new project launches eased over 2018 • This supply, in addition to many project handovers previously scheduled for 2018 as Developers adopted a more cautious approach in response to lower demand and spilling over into 2019, will contribute to the total delivery of over 30,000 residential growing supply. units. • Commercial supply is earmarked to account for 3.6 million sq.ft. of office space. • Despite lower than anticipated handover volumes, the additional supply was still • Dubai’s Real Estate market will continue to mature throughout 2019 in line with RENTAL RATES significant and resulted in steady rental rate declines across all asset classes increased transparency and improved regulatory conditions. throughout the year. • Whilst the additional supply earmarked for 2019 will put further pressure on rental • Average declines of 10% for apartments, 10% for villas and 5% for offices were rates, the rate of decline is expected to slow towards the end of the year. recorded for 2018, although some areas significantly under/outperformed. • Lower rental rates will enable more Tenants to upgrade in term of size/quality and/or • Landlords continued to offer incentives such as rent-free periods and multiple cheque location. payments. • Similar to the leasing market, apartment, villa and office sales prices continued their • Further sale price declines are expected in 2019 and although the focus will remain SALES PRICES downward trajectory during 2018, declining by an average of 13%. on affordable developments, transaction volumes are anticipated to rise as Residents • Emphasis continued to be unit price points, as opposed to the rate per sq.ft. take a longer-term view on living in Dubai. • A number of off-plan projects received a positive response from Investors. • Whilst market conditions mean that it is unlikely LTV ratios will change, we believe that • The steady decline in sales prices for completed projects has improved affordability Developers, banks and other financial institutions will become more creative and and hence opened the market to a wider Investor pool and facilitated a rise in introduce solutions to bypass the high down payment required to avail a mortgage. End-users and first-time Buyers. TRENDS SALES PRICES RENTAL RATES PROJECT LAUNCHES INCENTIVES SUPPLY DEMAND - OFF PLAN DEMAND - COMPLETED 2018 2019 4 Dubai Real Estate Report - Q4 2018 DUBAI APARTMENT RENTAL RATES (All figures in AED 000’s p.a.) TYPE 1 BEDROOM 2 BEDROOMS 3 BEDROOMS 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 HIGH TO LUXURY END DIFC - - - 73 80 103 113 113 105 100 90 - - - 115 130 158 173 158 160 145 120 - - - 145 170 198 235 230 190 190 175 DOWNTOWN DUBAI 133 85 70 68 80 98 118 115 115 95 83 185 120 100 100 125 160 170 175 160 130 115 275 165 150 150 180 228 245 240 225 190 170 PALM JUMEIRAH 200 113 90 90 95 135 150 135 130 110 98 228 145 120 120 140 175 208 198 175 155 138 300 200 170 170 190 223 243 255 235 200 180 SHEIKH ZAYED ROAD 160 83 70 68 83 98 113 100 95 90 80 203 130 105 100 110 148 148 130 125 115 110 290 175 120 120 135 195 200 175 165 150 125 MID TO HIGH END BUSINESS BAY - - 55 45 60 90 93 93 85 70 65 - - 85 70 85 130 135 135 125 105 90 - - 115 100 125 178 180 185 170 150 140 DUBAI MARINA 130 78 63 63 75 105 113 98 90 70 68 180 110 90 80 100 140 158 143 125 105 98 245 160 125 115 135 178 210 205 190 155 145 GREENS 120 65 58 55 65 85 83 95 95 75 68 160 88 78 75 100 135 148 143 130 115 100 180 130 115 105 130 155 173 175 175 145 135 JUMEIRAH BEACH RESIDENCE 115 85 73 70 80 108 118 115 105 95 80 168 118 95 90 100 135 163 148 140 115 103 203 148 115 110 140 175 200 193 185 160 140 JUMEIRAH LAKES TOWERS 110 65 50 45 55 83 90 90 75 65 58 160 85 65 65 75 110 133 125 115 95 83 210 118 85 85 100 148 168 153 150 130 110 AFFORDABLE DEIRA 88 48 40 37 35 68 65 65 60 50 48 103 55 55 53 53 85 90 90 85 70 63 138 83 75 70 75 135 133 113 115 95 88 DISCOVERY GARDENS 100 58 45 38 45 70 70 72 65 55 48 135 85 70 53 70
Load more

Recommended publications
  • Both Transaction Levels and Sales Prices for Apartments and Villas
    Property Review Dubai Q1 2015 Report Both transaction levels and sales prices for apartments and villas showed marginal declines over the quarter, whilst rental rates remained relatively stable throughout the city. Q1 2015 REPORT Dubai Q1 2015 Highlights • The trend witnessed in the second half of 2014 continued during Q1 2015; transaction levels slowed and prices softened in selected areas whilst buyers looked for value-for-money projects specifically in completed or close-to-completed developments. • Despite property prices and rentals close to Q1 2014 levels, Dubai remained unaffordable to many and therefore Dubai Municipality and developers shifted their attention to target the underrepresented affordable segment. • For instance, Dubai Municipality announced the allocation of over 100 hectares of land in Muhaisnah 4 and Al Quoz 3 and 4 to developers to build housing affordable to rent for those earning between AED 3,000 and AED 10,000 per month. • Similarly, other projects were launched during Q1 2015 including 1,000 three and four bedroom townhouses at Zahra and Hayat in the new Town Square master-planned development by Nshama, located south of Dubai Bypass Road. This highlights the continuous expansion of the city further inland as developers target the more affordable segments of the market, with Damac having led this trend with the Akoya Oxygen project. RESIDENTIAL Q1 2015 down by 12% compared with -12% TRANSACTIONS Q1 2014. 2 © Asteco Property Management, 2015 Q1 2015 REPORT Dubai Sales Leasing RESIDENTIAL • A general slowdown was witnessed in Q1 2015 in Dubai, both in the number of transactions as well • Apartment rental rates remained stable compared with the KEY TRENDS as values, specifically for lower quality properties.
    [Show full text]
  • Approved Auditors List in Accordance to DMCC Approved Auditor Rules Sr
    DMCC Approved Auditors List in Accordance to DMCC Approved Auditor Rules Sr. Account Auditor Name U.A.E. Address Email Address No. Number 1 148624 A & M Al Ansari Auditing The H Hotel Office Tower, Level 29, Office# 2903-01, One Sheikh Zayed Road, Dubai, UAE [email protected] 2 165557 Abacus Accounting & Auditing 301 Royal Center Maktoom Hospital Road, Dubai UAE [email protected] 3 148718 Abdallah Al Qaydi SPA Auditing C-56 L Owais Building Al Rigga Road, Deira Dubai, UAE [email protected] 4 148573 Abdulaziz Panis And Shah Associates Chartered Accountants LLC Office No. 104, Gold Land Building, Gold Souq, Dubai UAE [email protected] 5 148610 Abdulhusain & Associates Al Owais Building, Mezzanine Floor, Block E-06, Al Rigga Road, Dubai UAE [email protected] 6 148589 Abdulla Al Marzooqi Chartered Accountants Office 301, RAK Bank Bldg. Sheikh Zayed Road, Dubai UAE [email protected] 7 166824 Abdulla Almheiri Auditing of Accounts & Tax Consultant Office no. 208, Boushaqer Bldg. Al Garhoud, Deira Dubai, UAE [email protected] 8 149760 Abdulmunem Al Rubaie & Partners Chartered Accountants 3204 Aspect Tower, Business Bay, Sheikh Zayed Road Dubai, UAE [email protected] Abdulrahman Alnuaimi Auditing of Accounts Owned by Abdulrahman 9 148552 Alnuaimi One Person Company L.L.C. M-5, Al-Shali Building near Al Mamzar Business Center, Al Itihad Road Dubai, UAE [email protected] 10 148598 ABK Saqer Auditing Office No. 106 al qusais plaza building, Damascus street [email protected] 11 148591 Active Auditors Sharjah, UAE [email protected]
    [Show full text]
  • Dubai Real Estate Report Q3 2019
    Property Review Dubai Real Estate Report Q3 2019 BUILDING The building consultancy team at Asteco have a wealth of experience and an in-depth knowledge CONSULTANCY of construction technology, building pathology and effective project management methods With you throughout all stages of your which enable us to provide our Clients with a comprehensive building consultancy service. built asset lifecycle Technical Due Snagging Area Diligence Inspections Verification Life Cycle Schedules of Schedules of Costing Dilapidations Condition Project RERA Technical Building Monitoring and Reports Condition Audits Surveys Defect Project Insurance Analysis Management Reinstatement For more details, please contact Valuation Nick Constantine, BSc (Hons) MRICS, Head of Building Consultancy [email protected] DUBAI MARKET OVERVIEW SUPPLY* RENTAL RATES SALES PRICES New apartment supply slowed marginally in the third quarter of 2019 with the handover Apartment, villa and office rental rates continued their Sales price movement for apartments, villas and of 4,600 units, compared to over 5,000 in both Q1 and Q2. downward trajectory and recorded quarterly declines offices recorded similar drops of 2% to 3% compared of 3%, 2% and 3%, respectively. to the previous quarter, and declines of between 13% Conversely, villa stock increased significantly, recording an additional 2,500 units in Q3 and 16% since Q3 2018. 2019 (more than the first two quarters combined - 2,200 units). Similarly, new office Annual changes remained in double digits with inventory delivered in Q3 reached 950,000 sq.ft., exceeding the entire total of the first average drops of 12%, 10% and 13%. Asteco Government initiatives continued to be rolled out to half of the year.
    [Show full text]
  • UAE Real Estate Report
    A historic review and outlook since 2008 UAE Real Estate Report 2016 MID YEAR REVIEW AND OUTLOOK In the Middle East for over 30 Years asteco.com UAE Real Estate Report - H1 2016 Content 03 Editorial Note 04 UAE Price Comparison 05 Oxford Economics 07 Abu Dhabi Historic Review & Outlook 15 Dubai Historic Review & Outlook 22 Northern Emirates Historic Review & Outlook 26 Al Ain Historic Review & Outlook 2 © Asteco Property Management, 2016 UAE Real Estate Report - H1 2016 Editorial Note 2016 has so far been an interesting year for the UAE’s real estate sector. Whilst substantial declines were anticipated over the first half of the year, these appeared to be less pronounced than expected, especially in Dubai and the Northern Emirates as the delivery of supply slowed down considerably. At the same time, however, the effect of low oil prices continued to affect Abu Dhabi’s real estate market more so than Dubai. This is due to a heavily oil based economy in Abu Dhabi, whereas Dubai has a more diversified income base. Various measures to improve government revenues are being considered by Ministry of Finance such as the implementation of Value Added Tax (VAT) from 2018 onwards, as well as additional taxes on other products. Increases in water and electricity charges are also being considered. This would lead to a significant rise in the cost of living, which may become prohibitive for many residents. This would accentuate a trend already seen since the beginning of the year, whereby residents are becoming more budget conscious, downsizing to more affordable units and, in some cases, sending family members back to their home country.
    [Show full text]
  • Atlas / Mapserver
    Route C14: Al Nahda 1, Sama Residence - Safa, Terminus A Arabian l W uheid Al Shabab Al Gulf a R Arabi Club d Ca Abu Hail, Masjid 2 Shabab Club iro Al Nahda 1, St Mattar Plaza Abu Baker Al Dubai Folklore Siddique Rd Abu Hail, Masjid Theatre 2 Al Nahda 1, Mai Tower j St e Manama 2 Al Nahda 1, Sama Residence Beirut St D Al Khale Wuhaida, Road C14 Hor Al Anz, Turnoff 64 Manama Abu Ha i Qusais 1, LuLu Hypermarket Abu Hail, Clinic l Rd Ahli Club Abu Baker Al Siddique Road Port Rashid Naif Baghdad St M Rd u s The Center Al Rd s a lla Al Nahda Rd Al Ittihad St Al Bakhit Center Hamarain Center Al M a Al Khaleej Rd ktoum Rd Ministry of Environment DNATA Al Quds St Creek Golf & Yatch Club City Centre Metro Bus Stop A 2 NahdaAl Dubai Real Estate College of Dubai Rd Kuwait Road Islamic Studies Headquarters Mankhool, City Centre Metro Bus Stop A International Center Point Airport Broadcast Interchange Airport Rd Casablanca St Zone St Sheikh Rashid Road I/S College of Islamic StudiesDubai 2 Courts 1 Beirut British Council 5 Rashid Hospital Karama, Ent. Hoot, Eppco Karama, Dubai Central Post Office Municipality Center Dubai Creek Golf Hudheiba, Turnoff Al & Yacht Club Airport Tunnel Al Mina Rd Nasr United Arab Club Al Reb Hana Center Emirates at Satwa, Post Office St Satwa, Clinic Airport Rd Satwa, Masjid Al E K hawaneej Rd Satwa, Masjid 2 11 Bada'A E 62 Satwa, Square BusinessBay Crossing Dubai 2Nd Za'Abeel St Jumeira Rd Khadri Masjid Zone Al Rebat St 6 Al Wasl Sports Bilal Bin Ribah School Zaabeel Horse Club Jumeira Satwa, Road Race Bay Island Wasl,
    [Show full text]
  • Letter of Confirmation
    CCOOMMPPAANNYY PPRROOFFIILLEE SINCE 1976 QQuuaalliittyy AAssssuurraannccee Musaffah Industrial Area Abu Dhabi: Tel: +971 (2) 5508042 Fax: +971 (2) 5508046 P.O. Box # 132634 Dubai Investment Park, Beside (MB Mix) Off. Tel: +971 (4) 8854854 Off. Fax: +971 (4) 8854853 Dubai: P.O. Box # 60462 Lab Tel: +971 (4) 8854771 Lab Fax: +971 (4) 8854772 Sharjah Ind. Area – 17 Sharjah: Tel: +971 (6) 5350357 Fax: +971 (6) 5350358 P. O. Box # 5116 Industrial Area 38, Gate 54, Doha Qatar: Tel: +974 44715063 Fax: +974 44515387 P. O. Box # 491 Website: www.ahamgeo.com Email: [email protected] CP/UAE/2013 TABLE OF CONTENTS INTRODUCTION ..................................................................................................................................... 3 KEY PERSONNEL QUALIFICATIONS .................................................................................................. 5 MOHAMMAD MUKADDAM ............................................................................................................................... 6 ADEEB ELIAS SAWAYA .................................................................................................................................. 8 BASSEL MUKADDAM .................................................................................................................................... 12 ALI ABDEL AZIZ ALI ...................................................................................................................................... 14 SAJID JALIL ...................................................................................................................................................
    [Show full text]
  • Dubai Destination Guide
    Dubai Destination Guide Contents Contents 2 Quick Facts 3 About Dubai 4 Events & Nightlife 5 Top Destinations 10 Tours & Activities 14 Food & Dining Out 16 Shopping 19 Best Time To Visit 21 Travel Tips 22 Quick Facts Flying Time: 7.5 hours Currency: AED dirhams Language: Arabic, Urdu, Hindi, Persian, Bengali, Malayalam, Tulu and Tamil Time Zone: GMT+4 Visit For: Great Beaches, Scuba Diving, Safari & Wildlife, Culture, Architecture, Shopping, Extreme Sports, Spa, Beautiful Scenery 3 About Dubai After the previous decade’s highs and lows, Dubai is finally maturing into a more orderly city. The crane-ridden skyline, characteristic of the boom years, has given way to a more measured and controlled pace of development following the global recession – a timely recovery as the United Arab Emirates Federation celebrated its 40th anniversary last year. Nevertheless, this vibrant east-meets-west city retains its ability to build, surprise and tantalise. The economic turmoil of the last few years has wrought painful changes to Dubai’s retail, rental and property markets, and led to the plug being pulled on numerous high profile building projects. In other areas, the impact has been more stark: a host of more affordable mid- market and budget hotels have sprung up in a city previously renowned for its ostentatious accommodation. A new tourist tax, introduced in early 2014, will add extra costs to all accommodation bills, so even if tourists pay for a hotel in advance, they must pay the tax locally when checking out. A more telling sign of the zeitgeist is perhaps the planned opening of a British bargain basement store Poundstretcher, which is set to open in the opulent Madina Mall, famed for its designer brands.
    [Show full text]
  • Uae Provider Network
    UAE PROVIDER NETWORK CALL CENTER NO. +974 800 2000 PROVIDER TYPE GROUP NAME PROVIDER NAME ADDRESS AREA TELEPHONE 4005,4th Floor,Block B, Al Razi BuildingNo. 64, Oud CLINIC/POLYCLINIC NMC Healthcare Dubai B R MEDICAL SUITES Dubai Healthcare City 4392305 Metha Rd - Dubai Healthcare City 701, BLOCK A, IBN SINA BUILDING 27DUBAI DIAGNOSTIC CENTRE MEDLAB ANALYTIK FZ LLC Dubai Healthcare City 3622960 HEALTHCARE CITYDUBAI CLINIC/POLYCLINIC HEALTH CALL FZ-LLC dubai healthcare cityIbn sina bldg,block B Dubai Healthcare City 3635343 BLOCK D, BIN SIN BUILDING3RD FLOORHEALTH CLINIC/POLYCLINIC DRS NICOLAS GROUP NICOLAS & ASP UNIVERSITY COLLEGE Dubai Healthcare City 3624788 CARE CITY CLINIC NO 205, BLOCK A, NO 27, IBN SINA CLINIC/POLYCLINIC DENTCARE CENTER INTERNATIONAL Dubai Healthcare City 4370111 BLDGDUBAI HEALTHCARE CITY AL RAZI MEDICAL COMPLEX BUILDING,64 BLOCK C DENTAL CENTRE GERMAN DENTAL OASIS Dubai Healthcare City 3635367 UNIT,2014 DUBAI HEALTHCARECITY PHARMACY LIFE PHARMACY GROUP LIFE HOME HEALTHCARE PHARMACY Dubai Health Care City Free Zone Dubai Healthcare City 3624802 PHARMACY MEDICLINIC GROUP CITY HOSPITAL PHARMACY B/P 37, DUBAI HEALTHCARE CITY Dubai Healthcare City 3425555 ASTER PHARMACY 100 (BR OF ASTER PHARMACIES PHARMACY DM - Aster Pharmacies Al Razi building, Building No 64, D block, DHCC Dubai Healthcare City 4343922 GROUP LLC) BUILDING 49, SHOP NO 1, 1ST FLOOR13TH PHARMACY AL MANARA GROUP AL MANARA PHARMACY FZ-LLC Dubai Healthcare City 4458490 STREETDHCC CLINIC/POLYCLINIC LASER EYE CARE & RESEARCH CENTER FZ-LLC DHCC BUILDING 27
    [Show full text]
  • AA List As of 22.06.2020.Pdf
    DMCC Approved Auditors List in Accordance to DMCC Approved Auditor Rules Sr. Account Auditor Name U.A.E. Address Email Address No. Number 1 148624 A & M Al Ansari Auditing The H Hotel Office Tower, Level 29, Office# 2903-01, One Sheikh Zayed Road, Dubai, UAE [email protected] 2 165557 Abacus Accounting & Auditing 301 Royal Center Maktoom Hospital Road, Dubai UAE [email protected] 3 148718 Abdallah Al Qaydi SPA Auditing C-56 L Owais Building Al Rigga Road, Deira Dubai, UAE [email protected] 4 148573 Abdulaziz Panis And Shah Associates Chartered Accountants LLC Office No. 104, Gold Land Building, Gold Souq, Dubai UAE [email protected] 5 148610 Abdulhusain & Associates Al Owais Building, Mezzanine Floor, Block E-06, Al Rigga Road, Dubai UAE [email protected] 6 148589 Abdulla Al Marzooqi Chartered Accountants Office 301, RAK Bank Bldg. Sheikh Zayed Road, Dubai UAE [email protected] 7 166824 Abdulla Almheiri Auditing of Accounts & Tax Consultant Office no. 208, Boushaqer Bldg. Al Garhoud, Deira Dubai, UAE [email protected] 8 149760 Abdulmunem Al Rubaie & Partners Chartered Accountants 3204 Aspect Tower, Business Bay, Sheikh Zayed Road Dubai, UAE [email protected] Abdulrahman Alnuaimi Auditing of Accounts owned by Abdulrahman Alnuaimi 9 148552 One Person Company L.L.C. M-5, Al-Shali Building Al Itihad Road Dubai, UAE [email protected] 10 148598 ABK Saqer Auditing Office No. 106 al qusais plaza building, Damascus street [email protected] 11 148591 Active Auditors Sharjah, UAE [email protected] 12 161903 Affiniax
    [Show full text]
  • DRIVING DIRECTIONS from AREA AIRPORTS RA D K Creek Park H OA EXIT S Dubai - DXB 61 DH R 3 19 Phone: 971 4 2166666 2 YA
    26B Burjuman Dubai 24 8 28A 4 A 27A B Centre Municipality Dubai 7 6 2 SHK KHALIFA BIN ZAYED R HQ 26 Palm 19B Centre Point D88 OAD WestZone 6 Mall Khalid Bin Supermarket A 28B Burjuman Union 9 Al Waleed 16 Rotana Al Masraf Bank 1 D (ARABIFT Twr) 18 19B Spinneys ROAD 2 B 2 2 AYED Royal 2 Regent Falcon B SHK KHALIFA BIN Z 24 10B Palace 4 B 27B 29 1 12A 2A Diplomat 1 Al Ghurair 26 Muteena 1 D Downtown 3 UAE Ministry 5 A Park Etisalat City 2 Metro 2 8 O B of Health UMM 0 A AL 1 R 19 4C 1 Head Quarter Ministry of 6B 4A F MUTEE 13 5B Civil Service E A 2B 6 HURAIR 1 E S 18 Saudi Arabia 1A 5C 3 A L 4 Toys 'R' Us N 38 40A 3 A A Embassy A Sheraton 2 22A 37 4A AL MUTEENA ROAD 10C 4B Dubai Creek Salah SAL India 7 24 Al Khulood Iranian Al Din A A 20A Embassy 2 H Sheraton School School Lebanon D UDDI 2 6A D89 ROA 6 8 Embassy Deira 8A AL JAZIRA 5 Economic 2 Embassy National Bank 8A Reef Mall N R D78 of Dubai (HO) Dept Suites OAD 30 3 8C 11 AL KARAMA 13 18 10C 26B 10D 12A 11 29 16 13B 9 A 17A Lords 2 Lulu 17 Ministry of Dubai Chamber 2 Bin C B 10B A Centre Foreign Affairs of Commerce 21A 5 D84 Owais 17B 3 24 14B 15 34B Islamic & Arabic 12 30A 4 3A B 2 Renaissance Latifa Bint Studies College 5 0 28C B Buly 12C 7A 19 Dubai Hamdan School Al Wais 3 21B 5B 4 12D 2 3 A 7A D80 3 AL MURAQQABAT IQUE ROAD 23C 2 3 18A 2 8 B 27A Mövenpick A L SIDD 8 A 29A A Deira Fire 23D 27B 35 Station Abu Baker 42A 9B 31A United ZA'ABEEL ROAD D77 Al Siddque BACKHypermarketER 20A Coral 35 BU B Deira A Al Shraifi 29 3 Dar Al 44A 1B Centre 15A Muraqabat A 4 L IYAD ROAD M Muraqabat 46A
    [Show full text]
  • Dubai Architecture Guide 2020
    WHAT Architect WHERE Notes Zone 1: Downtown Dubai The H Hotel & This twin tower development built in 2007 houses a 40 storey office Office Tower - Sheikh Zayed Road tower and the 5 star Monarch Hotel; sitting on a large podium ***** RTKL Associates Inc. accommodating retail outlets, restaurants, a ballroom, meeting rooms شارع الشيخ زايد Monarch Office Tower and a luxury health club. Don't miss 40 Kong Rooftop on the 40th floor The Dubai World Trade Centre complex comprises the original tower (built in 1978), eight exhibition halls, the Dubai International Convention Centre and residential apartments. The 39-storey office tower stands 149 metres (489 feet) tall and a majority of the floors are let Sheikh Zayed Rd The Dubai World commercially. Renamed after the late Sheikh Rashid Bin Saeed Al مركز دبي التجاري John Harris *** Trade Centre Maktoum, the 39-story Sheikh Rashid Tower no longer stands alone as العالمي it did when it was first built. Over the years, the Dubai World Trade Centre has been extended to include Exhibition Halls, Sheikh Rashid Hall and Maktoum Hall as well as the Al Mulaqua Ballroom, Sheikh Saeed Halls, Za’abeel Halls and the Trade Centre Arena. Sun-Thu (8am-5pm) The Sama Tower (also known as Al Durrah Tower) is a residential skyscraper completed in late 2009. The design was a 330 m twisting Sheikh Zayed Road tower with more than 75 storeys for residential use, costing about US$ Sama Tower - Al million. This design was regarded as a major addition to the Dubai 140 شارع الشيخ Atkins Global *** Durrah Tower skyline, but at the same time, the height of the project was a concern زايد to the Dubai's Department of Civil Aviation.
    [Show full text]
  • Legal Notice
    Legal Notice Rethink ME Ltd ADGM Rethink ME Ltd (“Rethink”) is a subsidiary of a Foreign company and is registered as a Private Company Limited by Shares incorporated under the laws of Abu Dhabi Global Markets, (“ADGM”) with its registered office at 3414ResCowork01, Level 34, Al Maqam Tower, Abu Dhabi Global Market Square, Al Maryah Island, Abu Dhabi, United Arab Emirates with commercial license No. 000000149. Rethink is licensed to provide the following services: Management Consultancy Activities Tax Consultancy Activities Accounting, Bookkeeping Activities Rethink ME Ltd (Dubai branch) Rethink ME Ltd has a branch located in Dubai with its registered office at Floor 8, Al Gurg Tower 3, Rigga Al Buteen, Baniyas Road, Deira, Dubai. Under its Dubai DED license, Rethink is permitted to provide the following services: Corporate Services Provision Activities Tax Consultancy Accounting, Bookkeeping AML/CTF & Sanctions Compliance Obligations Rethink ME Ltd is required to comply with Cabinet Decision No.(10) of 2019 concerning the implementation regulation of Federal Decree Law No.(20) of 2018 on Anti-Money Laundering and Combating the Financing of Terrorism and Illegal Organisations; in addition to this also complies with ADGM Financial Services Regulatory Authority’s AML Rulebook as relevant to designated Non-Financial Business Professional (“DNFBPs”). Anti-Bribery & Corruption Policy Rethink ME Ltd (“Rethink”) recognizes that bribery and corruption is a growing concern for corporate and public life in many countries across the world. Acts of bribery and corruption are strictly prohibited by global laws that require companies such as Rethink to develop “adequate procedures” to prevent corruption. As part of our Corporate governance, our Anti-Bribery & Corruption Policy outlines the measures Rethink takes to prevent bribery and corruption, and the procedures that should be followed if any incident of bribery or corruption occurs within the purview of its business.
    [Show full text]