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News Brief 48 ASSET MANAGEMENT SALES LEASING VALUATION & ADVISORY SALES MANAGEMENT OWNER ASSOCIATION NEWS BRIEF 48 MON DAY 12 DECEMBER 2016 RESEARCH DEPARTMENT DUBAI | ABU DHABI | AL AIN | SHARJAH | JORDAN IN THE MIDDLE EAST FOR 30 YEARS © Asteco Property Management, 2016 asteco.com | astecoreports.com ASSET MANAGEMENT SALES LEASING VALUATION & ADVISORY SALES MANAGEMENT OWNER ASSOCIATION REAL ESTATE NEWS UAE UK ANNOUNCES PARTICIPATION IN EXPO 2020 DUBAI UAE'S ALDAR ALLOWS FOREIGNERS TO BUY VILLAS IN WEST YAS PROJECT DUBAI NAKHEEL COURTS INDIAN INVESTORS FOR NEW PALM JUMEIRAH HOTEL AND RESIDENCES DUBAI'S IMG WORLDS UNVEILS NEWEST THEME PARK 'IMG WORLDS OF LEGENDS’ DUBAI WHOLESALE CITY INKS PACT WITH CHINA COMMODITY GROUP EVEN DUBAI’S VILLA PRICES ARE SHOWING SLIGHT GAINS OMNIYAT IS ALL SET TO RIDE THE CANAL WAVE DUBAI REAL ESTATE REGULATOR ANNOUNCES NEW SYSTEM TO REGULATE REAL ESTATE MARKETING MARIO VOLPI: WHAT CAN DUBAI LANDLORD DO IF TENANT DOES NOT VACATE APARTMENT THAT IS UP FOR SALE? THE DH146M EMIRATES HILLS FAMILY HOME FOR THE ELITE HEART OF EUROPE DEVELOPMENT AT THE WORLD ISLANDS OFF DUBAI COAST TAKES MAJOR STEP FORWARD ABU DHABI VILLA SALES IN ABU DHABI'S WEST YAS NOW OPEN TO EXPATS MARINA MALL ABU DHABI ANNOUNCES DH3B EXPANSION PLANS ABU DHABI DEVELOPER COMPLETES ‘PHASE THREE’ OF BLOOM GARDENS PROJECT NEAR KHALIFA PARK ALDAR PROPERTIES OPENS WEST YAS VILLA SALES TO EXPATS NORTHERN EMIRATES SHARJAH TENANTS GET SOME RESPITE AS RENTS DROP THIS YEAR DUBAI | ABU DHABI | AL AIN | SHARJAH | JORDAN IN THE MIDDLE EAST FOR 30 YEARS © Asteco Property Management, 2016 asteco.com | astecoreports.com Page 2 ASSET MANAGEMENT SALES LEASING VALUATION & ADVISORY SALES MANAGEMENT OWNER ASSOCIATION NAKHEEL COURTS INDIAN INVESTORS FOR NEW PALM JUMEIRAH HOTEL AND RESIDENCES Thursday, 08 December, 2016 Dubai real estate master developer Nakheel is making its way to Mumbai for the Dubai Property Show to showcase a range of projects offering investment opportunities to the Indian market. Nakheel’s Palm 360 hotel and residential development, located on Palm Jumeirah, will take centre stage at the event, which takes place at Mumbai’s Bandra Kurla Complex, 9-11 December 2016. A wide range of other properties, some of which are ready for handover – are also on offer. Indians – the top foreign property investors in Dubai – already account for more than 11 per cent of Nakheel customers, buying nearly 4,500 villas, apartments and land plots with a combined value of over $2.5 billion. And in the first six months of 2016, Indian investors spent some $2 billion on Dubai real estate. Sanjay Manchanda, CEO of Nakheel, said: “The Dubai Property Show is the perfect platform from which to expand our already-strong Indian customer portfolio by highlighting the supreme investment opportunities that Dubai has to offer. “Dubai’s excellent transport, education, trade, tourism and recreational facilities entice millions of people to live, work and spend leisure time in the emirate. As the city continues to grow, so does the need for more accommodation and attractions for residents, tourists and businesspeople, meaning more new and lucrative opportunities for would-be investors. "We look forward to capturing their attention at the show with a diverse range of projects, including our very latest creation, Palm 360.” Source: Emirates 24/7 Back to Index DUBAI | ABU DHABI | AL AIN | SHARJAH | JORDAN IN THE MIDDLE EAST FOR 30 YEARS © Asteco Property Management, 2016 asteco.com | astecoreports.com Page 3 ASSET MANAGEMENT SALES LEASING VALUATION & ADVISORY SALES MANAGEMENT OWNER ASSOCIATION DUBAI'S IMG WORLDS UNVEILS NEWEST THEME PARK 'IMG WORLDS OF LEGENDS’ Wednesday, 07 December, 2016 IMG Worlds, Dubai-based owner and operator of the world’s largest indoor theme park, IMG Worlds of Adventure, announces the launch of its latest project, IMG Worlds of Legends. With nine unique zones spread across over 2 million square feet, IMG Worlds of Legends will feature some of the most exciting and popular brands in the world, making it one of the biggest global licensing deals of its kind. IMG Worlds of Legends, situated adjacent to IMG Worlds of Adventure, will feature futuristic interactive rollercoasters, state-of-the-art rides, breath-taking water-based attractions, and spectacular live entertainment. With its temperature-controlled environment and retractable roof, guests are offered the choice of enjoying the thrilling rides safely protected from the desert heat in summer or basking in the sun on the sky-high coasters in winter as IMG Worlds of Legends is open 365 days a year, offering the best of both worlds. Owned and operated by IMG Worlds, IMG Worlds of Legends will offer a fully immersive experience, with each zone in the theme of a different imaginary world, complete with 104,000 square feet of food and beverage space and 102,000 square feet of retail space. Commenting on the announcement, Ilyas and Mustafa Galadari, owners of the Ilyas and Mustafa Galadari Group, said: “We are building on the success of IMG Worlds of Adventure with the next phase of growth – IMG Worlds of Legends. We are committed to bringing the boldest, most dynamic attractions to Dubai, combining innovative rides with value entertainment for the whole family.” “We are encouraged to look to the future as Dubai races towards fulfilling the vision of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to attract 20 million visitors to the emirate by 2020. We are fast becoming the family entertainment capital of the Middle East with high growth prospects that permit us to plan for the long term. We look forward to welcoming residents as well as visitors from the region and abroad to enjoy a unique theme park adventure like no other.” Lennard Otto, CEO of IMG Worlds, added: “IMG Worlds continues to attract truly international brands to Dubai and we are now one of the principal players in the global theme park industry. We have executed on our brand portfolio strategy, bringing together the biggest names in the industry under one umbrella to create the ultimate leisure and entertainment destination. IMG Worlds of Legends has beloved characters, dynamic rides, interactive attractions, and incredible architectural engineering across nine distinct zones, spanning over 2 million square feet.” IMG Worlds of Legends will connect to IMG Worlds of Adventure via a state-of-the-art sky bridge, which will double as a gateway to the park. DUBAI | ABU DHABI | AL AIN | SHARJAH | JORDAN IN THE MIDDLE EAST FOR 30 YEARS © Asteco Property Management, 2016 asteco.com | astecoreports.com Page 4 ASSET MANAGEMENT SALES LEASING VALUATION & ADVISORY SALES MANAGEMENT OWNER ASSOCIATION There will also be a pedestrian walkway, allowing easy transit between the two parks. Guests will be able to purchase tickets to each park separately or choose a multiple park pass for the ultimate day out for families and friends. Attractions will include characters from global brands, such as: • Nickelodeon - Teenage Mutant Ninja Turtles - Dora the Explorer - SpongeBob SquarePants • Ubisoft - Assassin’s Creed - Raving Rabbids - Just Dance • Saban Brands - Saban’s Power Rangers • Pokémon • Mattel - Barbie doll - Hot Wheels - Bob the Builder - Thomas and Friends - Mega Bloks • The Animé Zone - Toei Animation: Dragon Ball Z and One Piece - TV TOKYO: Naruto • Cartoon Network (a partner in IMG Worlds of Adventure) - We Bare Bears - Other hit and classic brands to be revealed • IMG Worlds’ proprietary brands - Legends of Arabia - Lost Valley – Dinosaur Adventure DUBAI | ABU DHABI | AL AIN | SHARJAH | JORDAN IN THE MIDDLE EAST FOR 30 YEARS © Asteco Property Management, 2016 asteco.com | astecoreports.com Page 5 ASSET MANAGEMENT SALES LEASING VALUATION & ADVISORY SALES MANAGEMENT OWNER ASSOCIATION Source: Emirates 24/7 Back to Index DUBAI | ABU DHABI | AL AIN | SHARJAH | JORDAN IN THE MIDDLE EAST FOR 30 YEARS © Asteco Property Management, 2016 asteco.com | astecoreports.com Page 6 ASSET MANAGEMENT SALES LEASING VALUATION & ADVISORY SALES MANAGEMENT OWNER ASSOCIATION MARINA MALL ABU DHABI ANNOUNCES DH3B EXPANSION PLANS Tuesday, 06 December, 2016 With UPC approvals well underway, Marina Mall Abu Dhabi, the capital’s leading shopping destination and owned by the National Investment Company (NIC), will soon be breaking ground in Q1 of 2017 with major enhancements worth 300 million dirhams due throughout the mall; in addition to a new three-billion dirham extension. Marina Mall Abu Dhabi will be undergoing a complete renovation and growing in size with a 120,000 sqm extension designed by DP Architects – a world renowned architectural firm based in Singapore and also behind the design of Dubai Mall. From exclusive luxury and high-end brands to the development of a world-class food court, the shopping destination will continue to deliver unique shopping experiences to suit all tastes. Jihad Dirani, Head of Leasing at Marina Mall Abu Dhabi, said: “As one of Abu Dhabi’s established and most iconic shopping destinations, we strive to provide our visitors with an exclusive combination of unique shopping, entertainment and F&B experiences for the whole family to enjoy. We are entering an exciting phase of Marina Mall’s development, as we continue our journey to deliver an excellent visitor experience. We are currently in the process of selecting the right suppliers and contractors; whilst looking to evolve our leasing portfolio.” The new extension plan will be divided into two parts, the north and south side of the mall, which will include the latest retail and F&B brands and new market entry brands exclusive to the mall. Furthermore, Marina Mall Abu Dhabi will expand its car parking facilities in coordination with the existing parking amenities for the new development, making it easily accessible to all visitors. “Marina Mall Abu Dhabi has been a social and commercial success since its doors first opened over 14 years ago.
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