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Dubai Properties ACHIEVEMENTS The AED 50 billion Culture Village, a unique Dubai Properties’ mega development offering an elite lifestyle in an projects and style of intellectually stimulating environment showcasing implementation have year-round world class cultural events, was won the company instant launched in May 2006. recognition. In 2006 it was 2007 started on an optimistic note for voted the “Best Commercial Dubai Properties, gaining the coveted ISO Developer in the UAE” at 9001:2000 certification for excellence in quality the second Islamic Real and customer service. A training programme Estate Finance (IREF) ME ‘Managing Safely in Construction’, offered by the Awards. The award was Institution of Occupational Safety and Health in recognition of its AED (IOSH), was also successfully launched. 110 billion Business Bay In March 2007 Dubai Properties handed over development. the largest single phase residential development In April 2007 Dubai in the world - Jumeirah Beach Residence. The Properties received the delivery of 6,500 apartments took place over MARKET a three-month period to Dubai Properties, a leading real estate master ensure customised services developer and member of Dubai Holding, for each resident. operates with the express aim of conceiving Dubai Properties also unique communities that offer unparalleled handed over 1,275 plots at value to suit the diverse lifestyles of discerning The Villa project, a Spanish- customers. style residential community The UAE real estate market is one of the located in Dubailand, in July. most sought after property markets across the This was followed with globe. It has witnessed spectacular growth over the launch of Al Waha the last few years as investments were channeled Villas in September. The into the sector and demand continued to grow AED 745 million freehold unabated. Dubai has pioneered the concept Mediterranean style of foreign ownership in designated zones that residential community will offer freehold property. This has allowed the be located in Dubailand, market to expand exponentially and tap into an the world’s most ambitious expatriate base that makes up approximately 90% of the Dubai’s population (Source: Report coveted ISO 9001:2000 by Shuaa Asset Management). Rapid population certification for excellence growth, standing at 53% between 2000 and in quality and customer 2005, has bolstered the demand for residential service. The accreditation property in Dubai (Source: Report by Shuaa was awarded for the Asset Management). Ample liquidity and organisation’s Central regional demand has further accentuated the Support Functions market’s growth. including technical support, The new Dubai Property Law has further infrastructure, human stimulated strong interest in real estate and resources, quality assurance, prompted non-GCC citizens to own property. It procurement, revenue sets out the legal framework and has significantly operations, corporate contributed to streamlining property purchases performance and finance while guaranteeing purchasers’ rights. It also allows as well as functions such as developers to fund construction work with the zoning and master planning. proceeds from off-plan sales. Dubai Properties has worked closely with the Dubai Land Department HISTORY tourism, leisure and entertainment theme park. on how to protect third party purchasers with Founded in 2004 Dubai Properties is a member A month later Dubai Properties’ participation benefits becoming accessible to all. of Dubai Holding and has proved its extensive in Cityscape Dubai, the region’s biggest real Dubai Properties’ mission is to grow as a capabilities with an impressive portfolio of mega estate and property investment event, saw the pioneer in providing end-to-end real estate real estate projects. unveiling of AED 40 billion Mudon, its largest management solutions through its commitment In 2006 Dubai Properties was granted master development to date. Covering an area of to deliver sustained communities that promise freehold status under the Dubai Property Law, 73 million square feet, the project will be located premium and enduring value. With an investment Article (4), which allows non-GCC citizens to in Dubailand. The event also marked the launch portfolio of AED 350 billion it has several purchase property in areas especially designated of AED 4 billion Bay Square in Business Bay. freehold projects under development and over by His Highness Sheikh Mohammed bin Rashid Al To facilitate an environment that nurtures the 50 real estate projects in different phases of Maktoum, Vice President and Prime Minister of talent, ideas and aspirations of its employees Dubai construction for the leasing sector. the UAE and Ruler of Dubai. Properties introduced two pioneering leadership 52 052-053_DUBAI PROPERTIES.indd 2 1/13/08 10:53:05 AAMM development initiatives in 2007. These programmes • Al Waha Villas, a AED 745 million freehold The completion of Business Bay is slated reflect its strategy to invest in its people, develop Mediterranean style residential community for 2010 and will be made up of over several employee competencies, capacity and performance located in Dubailand. hundred towers, with many of these already using a broad range of proprietary tools. • Bay Square, a mixed-use, Pedestrian–only zone under construction. The ‘High Potential Leadership Development’ within Business Bay. Bay Square will consist of (HPL), the ‘Emarati’ programme, and the thirteen buildings, including a boutique hotel PROMOTION Graduate Trainee, Leadership and Fast Track with downtown ambience and an exclusive In its endeavour to reach out to a wider global programmes ensure the integration of UAE residential building. audience, while working alongside world class nationals into the property sector while • Executive Towers, The first project to be cultural entities, Dubai Properties has signed a upgrading the management skills of senior handed over within Business Bay, will consist of three-year sponsorship deal with the London personnel. eleven buildings, nine of which are residential, Philharmonic Orchestra. This partnership one commercial - The Aspect Tower, the follows the company’s successful alliance with PRODUCT Business Bay Hotel and an outdoor retail space other world-renowned entities, which includes In its mandate to create unique communities Dubai called Bay Avenue. It will offer 203 commercial campaigns at two landmark locations, London’s Properties simultaneously oversees the management units, and 2,211 residential units. Harrods and the Hotel Ritz in Paris. of existing projects while ensuring their upgrade As part of its commitment to the community In addition Dubai Properties also has a or expansion if required, following the successful Dubai Properties promotes sustainable prominent presence in world-class real estate implementation of its wide range of projects. environmental ‘green’ options across its exhibitions such as MIPIM Asia. Some of its landmark projects include the developments to maximise both economic and Jumeirah Beach Residence, Business Bay, Mudon, environmental performance. BRAND VALUES Culture Village, Tijara Town, The Villa and the Al Seeking to build communities not just buildings, Waha Villas at Dubailand. These projects cater to RECENT DEVELOPMENTS Dubai Properties’ slogan of ‘built around you’ niche requirements, meeting the most demanding The most significant development for Dubai complements its vision. This symbolises its specifications of investors and buyers. Properties in recent years has been the commitment to conceive unique communities • Jumeirah Beach Residence is a sprawling 1.7 developments at Business Bay. Set to be the largest that contribute to the growth of Dubai. km waterfront, considered the largest single and most premium business hub in the Middle To achieve this the company is founded phase residential development in the world. East, it is poised to evolve as the financial centre on a set of values, namely: Incisive, Flexible, • Business Bay covers an area of 64 million of Dubai’s growing economy. The project, created Integrity, Transparency and Excellence. These square feet along the extension of the Dubai by His Highness Sheikh Mohammed bin Rashid principles drive the development of its signature Creek, encompassing world-class infrastructure. Al Maktoum, Vice President and Prime Minister of projects and other promotional initiatives that it • Mudon incorporates five individual cities the UAE and Ruler of Dubai, is currently under undertakes as part of its ongoing mandate. - Baghdad, Beirut, Damascus, Cairo, and construction and will be benchmarked against In other words, Dubai Properties’ essence lies Marrakech - within one large city, covering an other key financial districts including Manhattan in in being perceptive and solutions oriented, while area of 73 million square feet. New York, and Ginza in Tokyo. exceeding the expectations of its stakeholders. • The Villa at Dubailand is a residential retreat The enormous scale of the development spread over 35 million square feet, including includes the dredging of an extra 11km of Dubai www.dubai-properties.ae Spanish-style villas. Creek towards the coast to create a bay that • Culture Village covers an area of 40 million will be surrounded by freehold commercial and square feet and will include a residential, residential towers. As a free trade zone Business Things you didn’t know about commercial and retail district in an intellectually Bay will provide a first class infrastructure and a DUBAI PROPERTIES
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