OBSERVER Dubai Market Report Q4 / 2018 Services Report Highlights

Total Page:16

File Type:pdf, Size:1020Kb

OBSERVER Dubai Market Report Q4 / 2018 Services Report Highlights OBSERVER Dubai Market Report Q4 / 2018 Services Report Highlights Valuations Mortgage and Secured Lending The performance of Dubai’s residential sector during to potential tenants. Average rents saw a further 4% the fourth quarter of 2018 saw a further decline in both decrease in the apartment market and a 3% decrease for Portfolio Valuations sales and rental values which was mainly attributable villas from Q3. Year-on-year performance for apartments to the increasing excess supply being released to the saw average rents decline by 12% from 2017, with villa Advisory and Research market. However, UAE Government departments rental rates decreasing 8% from the previous year. Financial Feasibilities recently announced a number of new initiatives, both legal and financial, which will have a knock on Transactions From Q3 to Q4 2018, the number of Highest and Best Use Studies effect on the real estate market. These include the transactions in relation to completed units increased by Market Research removal of the 20% cap on an individual bank’s real 22%, whilst for off-plan units the number of transactions Conceptual Advisory and Project Positioning Studies estate lending as a percentage of its total deposits. increased by 33% from the previous quarter – a significant Project Redevelopment/Repositioning Advisory uplift from Q3 which saw downward adjustments of 11% In terms of a potential market recovery, unless there is and 31% respectively. Year-on-year performance in terms of Investment Strategies – Acquisition and Disposal a significant decline in construction activity, a boost in transactional volumes saw a 7% uplift for completed units population and further economic stimulus created in the and a 13% decrease for off-plan units from the previous Sales and Leasing short term, it is unlikely the real estate market will reach year. Transaction values for completed units witnessed a 9% Commercial a demand and supply equilibrium in the near future. increase from 2017 whilst values for off-plan units decreased Industrial by 14% which would suggest buyers are less confident about Sales Prices The downward price corrections the off-plan sales market. Residential witnessed throughout 2018 continued in Q4, albeit at Retail a slightly slower pace than witnessed in Q3. Average Market Outlook We expect sales prices and rents to apartment sales prices were down 5% from the previous continue softening into 2019 as supply continues to enter Property/Facilities Management quarter, whilst average villa prices were down 3% the market – something which is unlikely to change in the from Q3. With regards to year-on-year performance, run up to Expo 2020. We also anticipate a limited number Commercial apartment sales prices were down 16% from 2017 of new off-plan launches, which is likely to mean that Mixed-Use whilst villa sales prices declined by 13% from 2017. the majority of transactions over the next 12 months will Residential relate to completed units. Rental Rates In Q4, as in previous quarters, we International Properties continued to witness downward pressure on rents. Read about our key residential market trends for 2019 on London Off-Plan Residential This was a consequence of additional supply pages 10 and 11. being added to the market, thus offering more choice International Homes and Investments International Relocations Residential Market Q4 2018 Snapshot Price Movements Completed Unit Transactions Apartments Villas Volumes Values QoQ −5% QoQ −3% QoQ +22% QoQ +9% YoY −16% YoY −13% YoY +7% YoY +9% Rental Movements Off-Plan Unit Transactions Apartments Villas Volumes Values QoQ −4% QoQ −3% QoQ +33% QoQ +31% YoY −12% YoY −8% YoY −13% YoY −14% The Observer - Dubai Residential Q4 2018 1 Completed units continue to prove Villas − Residential Sales Prices and Quarterly Change popular due to increased affordability 2,500 1% 0% Apartments: Quarter-on-Quarter movement: (–5%) Q3. Arabian Ranches and Jumeirah Park trailed close 2,500 1% 05 98 2,000 CHANGE PERCENTAGE 2 2 -1% , Year-on-Year movement: (–16%) behind with just a 1% and 2% decline respectively. The biggest , 2 2 0% decline was seen in Palm Jumeirah with a 7% drop from Q3. 2,187 -2% 05 98 The downward price corrections witnessed 2,000 CHANGE PERCENTAGE 2,035 2 2 -1% , 1,500 , 2 throughout 2018 continued in Q4, albeit at a slightly 2 -3% The biggest year-on-year price decline for villas was in 2,187 slower pace than witnessed in Q3. Average apartment -2% Palm Jumeirah with a 15% drop from 2017 and the 1,500 2,035 -4% sales prices were down 5% from the previous quarter, 1,000 -3% most resilient villa locations were The Meadows and The 48 1 03 while average villa prices were down 3% from Q3. , -5% 1,204 1,195 Springs with a 12% adjustment from the previous year. 1 1 35 36 88 91 , 42 23 985 -4% 9 9 AED SALES PRICES AED SALES 9 9 960 1 9 9 It is clear that capital depreciation has been fairly even 1,000 883 868 -6% 846 840 Apartments in areas such as Dubai Marina, Dubailand, 500 48 1 03 across the villa communities as villas were the first to feel , -5% 1,204 1,195 1 1 36 35 88 91 , 42 23 Discovery Gardens and Dubai Silicon Oasis continued 985 -7% 9 9 AED SALES PRICES AED SALES 960 9 9 1 the negative effects of the oil price declines in H2 2014. 9 9 868 883 -6% 840 to remain resilient, with the former experiencing a 1% 846 During Q3 2018, there was a higher decline in off-plan 500 -8% decline from the previous quarter and the latter three 0 sales as opposed to completed units. We predicted in our -7% locations witnessing 2% declines since Q3. The highest Arabian Ranches Jumeirah Park Palm Jumeirah The Lakes The Meadows/ Q3 Observer report that due to increased affordability, declines were seen in International City, Dubai Sports 0 The Springs -8% completed unit transactions would increase over the coming City and JVC, all with a 9% decrease in prices since Q3. Figures in AED/Sq AFtrabian Ranches Q1 2018Jumeirah Park Q2 2018Palm JumeQ3ira 2018h The Q4La 2018kes ThQoQe M Movementeadows/ quarters. In Q4 we saw an increase of 22% in transaction Source: REIDIN & Chestertons The Springs volumes over Q3 and a 7% uplift across 2018 as a whole. There are secondary areas where existing stock has Figures in AED/Sq Ft Q1 2018 Q2 2018 Q3 2018 Q4 2018 QoQ Movement suffereddue to the increasing amount of affordable Source: REIDIN & Chestertons units now available across Dubai which is adding further In 2017, 35% of all residential transactions were related to pressure to sales prices. completed units. In 2018, this figure increased to 41%, so it is clear there has been a shift in buyers’ interests. The lower The largest year-on-year price decline for apartments number of off-plan launches, coupled with the increased HOT TOPIC was seen in Discovery Gardens with a 25% drop from affordability of units available to occupy has motivated In late 2018, the UAE Central Bank announced the removal of the 20% cap of an individual bank’s real 2017. The most resilient apartment location was some buyers to consider properties that are move-in ready. estate lending as a percentage of its total deposits, which is to be replaced with a more flexible policy. The Dubailand with just a 5% adjustment from the previous year. However, overall, off-plan sales are still dominating the cap was brought in, not only in the UAE but across the GCC, to limit financial institutions’ exposure to real Villas: Quarter-on-Quarter movement: (–3%) market, with buyers enticed by attractive incentives estate and illiquid assets and to minimise soaring bad debt provision. It appears the control mechanism Year-on-Year movement: (–13%) including 5-year post-handover payment plans, rebates is to be lifted to facilitate banks to extend their lending, which is likely to have a further positive impact on of registration fees and guaranteed rental returns. The villa communities of The Meadows and The Springs transaction dynamics. displayed the most resilience with no price declines since Apartments − Residential Sales Prices and Quarterly Change 1,800 0% 1,6001,800 -1%0% 1,683 1,680 -2% 1,4001,600 1,643 -1% 1,515 -3% 1,683 PERCENTAGE CHANGE PERCENTAGE 1,680 -2% 1,2001,400 1,643 1,386 1,342 1,515 1,320 1,320 -4% 1,272 -3% PERCENTAGE CHANGE PERCENTAGE 1,0001,200 1,209 1,192 1,178 1,226 1,185 1,386 1,166 1,114 -5% 1,342 1,110 1,320 1,320 1,095 -4% 1,077 1,272 1,072 977 957 800 1,027 1,033 941 1,000 1,209 1,192 965 1,178 1,226 1,185 1,166 875 871 -6% 831 1,114 -5% 1,110 1,095 824 807 822 793 792 1,077 1,072 600 750 977 759 957 740 1,027 800 753 757 760 941 1,033 725 713 729 730 AED SALES PRICES AED SALES 965 716 704 -7% 652 875 871 -6% 631 636 831 824 807 822 793 589 566 400 792 600 750 759 740 753 757 760 725 516 713 729 730 AED SALES PRICES AED SALES -8% 716 704 -7% 652 631 636 589 200400 566 -9% 516 -8% 0 200 -10%-9% Business Bay Discovery Downtown Dubailand Dubai Marina Dubai Motor Dubai Silicon Dubai Sports International JLT JVC The Greens The Views 0 Gardens City Oasis City City -10% Figures Businessin AED/Sq Ft Bay Discovery Downtown Dubailand Dubai Marina Dubai Motor Dubai Silicon Dubai Sports International JLT JVC The Greens The Views Source: REIDIN & Chestertons GardensQ1 2018 Q2 2018 Q3 2018 Q4 2018 City QoQ Movement Oasis City City The Observer - DubaiFigures Residential in AED/Sq Q4 2018 Ft 2 The Observer - Dubai Residential Q4 2018 3 Source: REIDIN & Chestertons Q1 2018 Q2 2018 Q3 2018 Q4 2018 QoQ Movement 450,000 0% 400,000 -1% Villas − Residential Market Rent and Quarterly Change CHANGE PERCENTAGE Tenants re-negotiate or re-locate to make 350,000 -2% 300,000 savings on their annual rent -3% 250,000 -4% As in previous quarters, we witnessed continued downward appear to be most affected by market adjustments.
Recommended publications
  • Land Plots for Sale
    Land plots for sale Dubai Holding Creating impact for generations to come Dubai Holding is a global conglomerate that plays a pivotal role in developing Dubai’s fast-paced and increasingly diversified economy. Managing a USD 22 billion portfolio of assets with operations in 12 countries and employing over 20,000 people, the company continues to shape a progressive future for Dubai by growing $22 Billion 12 121 the city’s business, tourism, hospitality, real estate, media, ICT, Worth of assets Industry sectors Nationalities education, design, trade and retail. With businesses that span key sectors of the economy, Dubai Holding’s prestigious portfolio of companies includes TECOM Group, Jumeirah Group, Dubai Properties, Dubai Asset Management, Dubai Retail and Arab Media Group. 12 20,000 $4.6 Billion For the Good of Tomorrow Countries Employees Total revenue 1 Dubai Industrial Park 13 The Villa Imagining the city of tomorrow 2 Jumeirah Beach Residences(JBR) 14 Liwan 1 3 Dubai Production City 15 Liwan 2 4 Dubai Studio City 16 Dubailand Residences Complex Dubai Holding is responsible for some of Dubai’s most iconic 5 Arjan 17 Dubai Design District (d3) destinations, districts and master developments that attract a network 6 Dubai Science Park 18 Emirates Towers District of global and local investors alike. With our extensive land bank we 7 Jumeirah Central 19 Jaddaf Waterfront have created an ambitious portfolio of property and investment 8 Madinat Jumeirah 20 Dubai Creek Harbour opportunities spanning the emirate across diverse sectors. 9 Marsa Al Arab 21 Dubai International Academic City 10 Majan 22 Sufouh Gardens 11 Business Bay 23 Barsha Heights 12 Dubailand Oasis 9 2 8 22 7 18 23 11 17 19 3 5 6 20 4 1 10 14 1 Dubai Industrial Park 15 13 16 12 21 Dubailand Oasis This beautifully planned mixed-use master community is located in the heart of Dubailand, with easy access to main highways of Freehold 1M SQM Emirates Road, Al Ain Road (E66) and Mohammed bin Zayed Road.
    [Show full text]
  • Dubai Crown Prince Opens Al Ghubaiba Bus Station Vision
    Issue No. 149 November 2020 Dubai Crown Prince opens Al Ghubaiba Bus Station Vision The world leader in seamless & sustainable mobility. Mission Develop & manage integrated and sustainable roads & transportation systems at a world-class level, and provide pioneered services to all stakeholders for their happiness, and support Dubai’s vision through shaping the future, developing policies and legislations, adopting technologies, innovations & world-class practices and standards. 2 Revamping Mobility The fast pace of technology and industrial connected, RTA embarked on a master plan for advancements triggered by the 4th Industrial shared and flexible transport. It covered non- Revolution, and the spiral demographic growth conventional mobility means such as shared of key metropolitan cities have brought on bikes, cars, scooters and buses on-demand. new challenges. Governments have to revise Other mobility means loom on the horizon such the basics of urban-planning and plans for as autonomous and individual mobility means. roads and transport infrastructure to cope with RTA currently offers Hala e-hailing service in future trends. partnership with Careem, and bike share (Careem “Smooth mobility and connected communities Bike) service encompassing 780 bikes at 78 have now become core standards of classifying docking stations. It has just started the trial run of future cities. We endeavour to deliver a global e-scooter at five areas, and deployed 13 buses on- model by delivering state of the art advanced demand at five different locations in Dubai. RTA and sustainable infrastructure projects. The is also committed to supporting youth and local smooth mobility and connected communities start-ups and offer them suitable opportunities.
    [Show full text]
  • Fear and Money in Dubai
    metropolitan disorders The hectic pace of capitalist development over the past decades has taken tangible form in the transformation of the world’s cities: the epic expansion of coastal China, deindustrialization and suburbanization of the imperial heartlands, massive growth of slums. From Shanghai to São Paolo, Jerusalem to Kinshasa, cityscapes have been destroyed and remade—vertically: the soar- ing towers of finance capital’s dominance—and horizontally: the sprawling shanty-towns that shelter a vast new informal proletariat, and McMansions of a sunbelt middle class. The run-down public housing and infrastuctural projects of state-developmentalism stand as relics from another age. Against this backdrop, the field of urban studies has become one of the most dynamic areas of the social sciences, inspiring innovative contributions from the surrounding disciplines of architecture, anthropology, economics. Yet in comparison to the classic accounts of manufacturing Manchester, Second Empire Paris or Reaganite Los Angeles, much of this work is strikingly depoliticized. Characteristically, city spaces are studied in abstraction from their national contexts. The wielders of economic power and social coercion remain anonymous. The broader political narrative of a city’s metamorphosis goes untold. There are, of course, notable counter-examples. With this issue, NLR begins a series of city case studies, focusing on particular outcomes of capitalist globalization through the lens of urban change. We begin with Mike Davis’s portrait of Dubai—an extreme concentration of petrodollar wealth and Arab- world contradiction. Future issues will carry reports from Brazil, South Africa, India, gang-torn Central America, old and new Europe, Bush-era America and the vertiginous Far East.
    [Show full text]
  • The First Freehold Property in Mirdif “Exclusive Parkside Living” “A Sense of Elegance”
    The First Freehold Property in Mirdif “Exclusive Parkside Living” “A Sense of Elegance” “Experience the relaxing views of green” “The First Freehold Property in Mirdif” “Living Where Beauty and Quality meet” “The privacy is our priority” “A Sense of DUBAI” D UBAI Dubai, a glittering metropolis and the fastest-growing desert city on the planet, has transformed the Arabian sands into one of the most sought-after places in the world; for business, home ownership and tourism alike. Ingenious technology has created desert jewels like the Burj Khalifa; the tallest building in the world, and giant islands in the shape of palms like Palm Jumeirah. Part of the excitement of living in Dubai is the speed at which new things happen. Its determination to excel is seen in its ever-growing skyline as well as its speed in conquering the desert by catering for the most recent ‘chic craze’ – that of living in modern, yet traditionally designed, semi-urban accommodation. This thriving city is not only the dynamic nucleus of the Arabian Gulf but also the ‘gateway between the East and the West’ and as such the most sought after location in the world. dubai MIRDIF LOCATION CONNECTIONS DISTANCE Mirdif is the most idyllic and stylish residential community in Dubai. Mirdif City Centre Mall 7 minutes Uptown Mirdif 2 minutes Mirdif has a truly cosmopolitan population consisting Rashidiya Metro Station 10 minutes of Emiratis, Europeans, Arabs and South Asians. Dubai Festival City 10 minutes Mirdif is well connected to the whole city. Located Dubai International Airport 14 minutes adjacent to the Rashidiya Metro Station and The Deira City Centre 15 minutes Dubai International Airport, it’s easily accessible from Dubai Healthcare City 15 minutes major highways including Mohamed Bin Zayed Road Academic City 17 minutes and Emirates Road.
    [Show full text]
  • Dubai Knowledge Economy 2003 ~ 2008
    SPECIAL Dubai Knowledge Economy 2003 ~ 2008 Volume II Greater Dubai - 2014 ● ICT Infrastructure in New Dubai Hospitality Industry ● Banking and Finance Media ● IT Labor Market ● EIM Case Study Premium Sponsor 8.5, Dhs 37 \ US$ 10, +hp How to start your presentation without excuses. From now on, it’s show time, in no time. Today, business people on the move have no excuses but to perform to their best – thanks to HP’s remarkable range of compact, incredibly reliable digital mobile projectors. So, from now on you don’t have to face the nightmare of the resident projector letting you down. You simply produce your own lightweight HP digital projector and it’s show time, in no time. All models are simple to set up, featuring auto-everything. More importantly, they make you look good, too. And thanks to superior DLPTM technology, by Texas Instruments, HP mobile projectors give you crystal clear images with sharper quality and significantly longer picture reliability compared with LCD projectors*. So why compromise? HP DIGITAL PROJECTOR XB31 HP DIGITAL PROJECTOR SB21 - Weighs only 1.6 kg - Ultra portable, weighs an incredibly low 1.0 kg - 1500 lumens – high brightness for even the brightest of rooms - 1000 lumens Crisp, sharp XGA resolution (1024 x 768) SVGA resolution (800 x 600) - - Outstanding contrast ratio of 1800:1 for detailed images Outstanding contrast ratio of 1800:1 for detailed images - through latest DLP TM technology - through latest DLP TM technology HP DIGITAL PROJECTOR HP DIGITAL PROJECTOR VP6111 MP3130 - NEW - 3 kg - Weight
    [Show full text]
  • DUBAI HEALTH CARE CITY: a World-Class Innovation Evolving in a Dynamic Environment
    DUBAI HEALTH CARE CITY: A World-class Innovation Evolving in a Dynamic Environment. Michael Matly Managing Medicine, Harvard Business School, February 27, 2007 Partially funded by the DUBAI INITIATIVE, Belfer Center for Science and International Affairs, John F. Kennedy School of Government, Harvard University Purpose City, a discussion of challenges, as well as potential recommendations. Dubai Health Care City (DHCC) is the world’s first business park/cluster, 20 million square feet devoted to health Context care along the entire value chain from education, clinical care, wellness/CAM, “To become the internationally spas, business (pharma/biotech), and recognized location of choice for quality health care entrepreneurship. Sheikh healthcare and an integrated centre of Mohammed, ruler of Dubai, intended to excellence for clinical and wellness set DHCC as a regional center of services, medical education and excellence while improving the quality research” (DHCC vision statement) of health care delivery in Dubai. In addition, the DHCC model serves to be Dubai, a tiny city-state, in the Arabian an opportunity to attract a significant Peninsula has undergone an impressive amount of Federal Direct Investment transformation in the last decade, into Dubai. Clustering health care has transitioning from a trade-hub to a become an attractive model in developed regional and global center of financial and developing countries alike with services, media, IT, energy, tourism, and India and Australia announcing their in the last three years: Health Care. own health care cities. From its first days, DHCC has been successful in Dubai can attribute much of its attracting a number of brand names economic success to the including Harvard Medical School, freezone/clustering strategy with the Mayo Clinic, Johnson & Johnson, creation of JAFZA (Jabel Ali Free Zone Wyeth, University of Pennsylvania, Area) nearly 15 years ago, one of the Boston University, American Academy world’s largest import/re-export port.
    [Show full text]
  • Dubai: an International City Changing the World
    Dubai: An International City Changing the World By Thornton J. Williams, Williams McMillian PA As the world comes out of the global industry. Dubai is a top favorite tourist In fact, construction on such a large recession, Dubai is poised to take center destination and an increased building scale has turned Dubai into one of the stage as one of the world’s most dynamic boom in the emirate has led to many fastest growing cities in the world and cities. of the world’s most breathtaking is a part of Dubai’s Strategic Plan 2015 architectural projects being constructed to maintain economic growth and to Dubai is a city and emirate in the in a city, including the largest skyscraper put Dubai on the map of the world as a United Arab Emirates (UAE). Over in the world, the highest apartment, tourist destination of the world. Dubai the last three decades, Dubai has the biggest mall, and one of the world’s is the second most expensive city in the become a major business center most unique luxury resorts. region, and 20th most expensive city in with a dynamic and diversified the world. A City Mayors survey rated economy. With its strategic location, Dubai as 44th among the world’s best emergent infrastructure and increasing financial cities in 2007, while another accessibility, Dubai is served by over report by City Mayors indicated that 120 shipping lines and is linked via 85 Dubai was the world’s 33rd richest airlines to over 130 global destinations. city in 2009, in terms of purchasing Additionally, the Emirate has two world power parity (PPP).
    [Show full text]
  • DUBAILAND® Y Royal Caribbean International® Crean Alianza Para
    DUBAILAND ® y Royal Caribbean International ® crean alianza para ampliar oferta turística a visitantes de Emiratos Arabes Unidos Brilliance of the Seas ® ofrecerá paquetes DUBAILAND ® en conjunción con apasionantes itinerarios de siete noches por el Golfo Pérsico Dubai: 17 de diciembre, 2009 - DUBAILAND ®, miembro de Dubai Properties Group, y Royal Caribbean International, la principal línea global de cruceros del mundo, anunciaron su oferta conjunta de productos que le proporcionará un impulso sustancial al nuevo itinerario de cruceros de Royal Caribbean desde Dubai. Desde el 18 de enero hasta abril del 2010, el barco Brilliance of the Seas de Royal Caribbean International deslumbrará a los huéspedes con itinerarios de siete noches por el Golfo Pérsico, en correspondencia con su estilo original de cruceros para vacacionistas activos. El crucero comienza y concluye en Dubai, con escalas en los puertos de Fujairah y Abu Dhabi, en los Emiratos Arabes Unidos; Mina Sulman, en Bahrain; y Muscat, capital de Omán. Los huéspedes de Royal Caribbean tendrán oportunidades de disfrutar vibrantes ofertas turísticas de Dubai, en las principales atracciones de DUBAILAND, las cuales formarán parte de los paquetes de tours pre/post crucero y los programas de excursiones terrestres de Royal Caribbean. DUBAILAND ®, un conocido destino de turismo, placer y entretenimiento, ya está abierto con varias instalaciones en plena operación, como Dubai Autodrome en MotorCity; Dubai Outlet Mall en Outlet City; The Global Village; y Dubai Sports City, la cual cuenta con Ernie Els Golf Club, Butch Harmon School of Golf, y el Cricket Stadium. Estos proyectos reciben actualmente a más de ocho millones de visitantes cada año, y tienen el propósito de añadirle una mayor variedad a la oferta turística de Dubai, proporcionándoles a los visitantes emocionantes opciones de entretenimiento, y un valor increíble por su dinero.
    [Show full text]
  • Dubai Market Snapshot
    Dubai Market Snapshot Michael Schwarz, Associate Hala Matar Choufany, Director HVS – Dubai Office Dubai Silicon Oasis Headquarter Building, 4th Floor PO Box 341041, Dubai, UAE +971 4501 5586 +971 4501 5777 (Fax) Email: [email protected] April 2008 New York San Francisco Boulder Denver Miami Dallas Chicago Washington DC Atlanta Boston Newport RI Vancouver Toronto London Madrid Athens New Delhi Mumbai Singapore Hong Kong Shanghai São Paulo Buenos Aires Mexico City Dubai HVS – Dubai Office Dubai Market Snapshot 1 Dubai Market Snapshot HVS – Dubai Office Michael Schwarz and Hala Matar Choufany Economics and Politics Dubai’s tourism industry has enjoyed significant growth in recent years supported by a large number of public and private investments as well as major infrastructure improvements. The government of Dubai pursues aggressive plans to further grow and diversify the emirate’s economy and to transform Dubai into the business and leisure centre of the Middle East. Dubai’s Ministry of Planning predicts the emirate’s population to increase to more than 2 million people by 2010. 2007 was another strong year for Dubai. Heavy public spending combined with sustained high energy prices and liquid local markets continued to fuel economic growth. Inflation saw a slight decrease over the past 12 months and is expected to further ease in 2008. However, experts predict that consumer price inflation will stay above the country’s forecasted GDP growth of 8.3% during 2008. Visitation and the Passenger movements at Dubai International Airport grew by 19% to Hotel Market over 34 million in 2007. The airport is currently undergoing a multibillion-dollar expansion.
    [Show full text]
  • Die Zehn Erstaunlichsten Bauprojekte
    Die erstaunlichsten Bauprojekte Dubais World Trade Centre Dubai Den Anfang des Baubooms machte das World Trade Centre Ende der 1970er Jahre – damals das höchste Gebäude der arabischen Welt. Es spielt im heutigen Stadtbild eine eher unauffällige Rolle, denn im Laufe der folgenden Jahrzehnte kam eine Vielzahl noch höherer, modernerer und interessanterer Gebäude hinzu. Sheikh Zayed Road, Emirates Towers An der Scheich-Zayed-Strasse wurden seit der neunziger etliche Wolkenkratzer errichtet. Weithin sichtbar sind die Emirates Towers, der höhere der beiden Türme misst 355 Meter. Burj Dubai Im Stadtteil Downtown Dubai befindet sich der Wolkenkratzer Burj Dubai. Er ist schon jetzt das höchste Bauwerk der Welt und wird nach seiner Fertigstellung Ende 2009 mit seinen 818 m Höhe den Mittelpunkt des neuen Stadtzentrums Downtown Dubai bilden. Page 1 from 4 Palm Islands Vor der Küste der Stadt werden drei künstliche Inseln für Luxusvillen, Yachthäfen, Hotelanlagen und Golfplätze aufgeschüttet: die Palmeninseln, namensgebend ist die Form einer Palme. The World Dubai, eine künstliche Inselgruppe in Form der Weltkarte ist derzeit ebenso im Bau. Südlich ergänzt werden sollte die Erdnachbildung mit einem Saum aus langgezogenen Inseln, die den Namen The Universe tragen sollen, dieses Vorhaben ist jedoch einstweilen aufgegeben. Ebenso erst in Planung befindet sich das Megaprojekt Dubai Waterfront, das 1,2 bis 1,5 Millionen Menschen Leben und Arbeiten am Wasser ermöglichen soll und größer wäre als Köln. Erste Landgewinnungsarbeiten und Küstenplanierungen sind hierfür angelaufen. Jumeirah-Inseln Ihrer Vollendung gehen die Jumeirah-Inseln entgegen, 50 landseits liegende künstliche Inseln mit jeweils 16 Villen. Man rechnet damit, dass sich durch diese gewaltigen Landaufschüttungen die nur ca.
    [Show full text]
  • Hotel Factsheet
    Welcome to Al Habtoor Polo Resort AL HABTOOR POLO RESORT Name Al Habtoor Polo Resort Address Wadi Al Safa 5, Emirates Road 611, Dubailand, PO Box 112864 Telephone +971 4 435 4444 Email [email protected] Website www.habtoorpoloresort.com ACCOMMODATION 151 guest rooms, suites and villas oering a generous variety of 5-star luxury accommodations with amenities. The majority of the spacious rooms feature wide spread balconies overlooking the luscious green polo fields and courtyards. LOCATION Ideally located in the trending new Dubailand, close proximity to the city’s key attractions lies an equestrian – inspired resort oering exquisite fare with luxury accommodation. The Resort is 30 minutes drive from Dubai International Airport (DXB) and 15 minutes from Al Maktoum International Airport (DWC) surrounded by scenic views of the Arabian Desert, IMG Worlds of Adventure amusement parks, The Autism Rocks Arena concert venue, and malls including Dubai Outlet Mall. DESCRIPTION Al Habtoor Polo Resort marks Habtoor Hospitality brand’s first ever equestrian-inspired resort which introduces serene levels of sophistication to a world-class city. Ideally located in Dubailand and in close proximity to the city’s key touristic attractions, the landmark resort extends timeless Andalusian elegance within an oasis of excellence, uncompromising luxury and unparalleled service. Reinforcing Dubai’s standing within the global polo circuit, the resort is designed around four polo fields. The distinct surroundings oer premium stabling for a string of top quality horses and an academy to improve skills in show jumping, dressage, and polo. The resort features 151 guest rooms including 30 suites and 25 villas that overlook the lush green landscape of the polo fields with a variety of recreational activities and entertainment to be enjoyed in an imperial stature.
    [Show full text]
  • MA-Cities Within Cities-Draft.Pages
    UCLA UCLA Electronic Theses and Dissertations Title Cities within Cities: An Urbanization Approach in the Gulf Countries Permalink https://escholarship.org/uc/item/154746n3 Author Bamakhrama, Salim Salah Publication Date 2015 Peer reviewed|Thesis/dissertation eScholarship.org Powered by the California Digital Library University of California Title Page UNIVERSITY OF CALIFORNIA Los Angeles Cities within Cities: An Urbanization Approach in the Gulf Countries A thesis submitted in partial satisfaction of the requirements for the degree Master of Arts in Architecture by Salim Salah Bamakhrama 2015 Copyright page © Copyright by Salim Salah Bamakhrama 2015 ABSTRACT OF THE THESIS Abstract Cities within Cities: An Urbanization Approach in the Gulf Countries by Salim Salah Bamakhrama Master of Arts in Architecture University of California, Los Angeles, 2015 Professor Dana Cuff, Chair Within Dubai, nineteen out of the original 112 mega-projects carried the word city in their names, a phenomenon that is common in Gulf cities such as Dubai, Riyadh and Abu Dhabi. To further explore this phenomenon, this thesis focuses on three aspects that affect the dynamic relationship between the primary city and the cities within cities (sub-cities) in the Gulf region with special emphasis on Dubai. First, the naming problem of the sub-city illustrates why the tension between competing identities produces a set of effects that could either enforce or confuse the overall urban identity. Secondly, this thesis demonstrates how Dubai utilizes two seemingly opposed growth strategies (sprawl and infill) in order to grow as a primary city and to integrate its sub-cities. The last aspect explores how Dubai’s internal governance structure enables the freedom and autonomy of sub-cities.
    [Show full text]