ASSET MANAGEMENT SALES LEASING VALUATION & ADVISORY SALES MANAGEMENT OWNER ASSOCIATION NEWS BRIEF 45 SU NDAY 20 NOVEMBER 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 MIDDLE EAST PAY DELAYS HIT HILL INTERNATIONAL, SAYS CHIEF, AS IT SLIDES TO LOSS DUBAI MORTGAGE ON GRANTED LAND A WIN-WIN FOR DUBAI REALTY NEW DUBAI SOUTH CLUSTER POSTS BRISK SALES DUBAI'S AFFORDABLE LOCATIONS SEE RENT SPIKES BUILDERS URGED TO BROADEN FINANCING DUBAI EXPATS GROUP SHOWS THE WAY TO MANAGING A PROPERTY PORTFOLIO SHAPOORJI PALLONJI SET FOR EXPANSION OUTSIDE INDIA IN DUBAI DUBAI TOWN SQUARE LAUNCHES NEW TOWNHOUSE COMMUNITY NOOR DUBAI LAND DEPARTMENT MAKES IT OFFICIAL WITH NEW AWARDS ABU DHABI ATKINS MIDDLE EAST REPORTS LOWER REVENUE AND LIQUIDITY PRESSURE ABU DHABI OFFICE RENTS DIP IN THIRD QUARTER, LOWEST IN EIGHT YEARS ALDAR AWARDS DH30M EARLY WORKS CONTRACT FOR MAYAN GROWING PRESSURE ON ABU DHABI LANDLORDS TO LOWER RENTS NORTHERN EMIRATES SHUROOQ BREAKS GROUND FOR DH45M AL BADAYER DESERT CAMP DEVELOPMENT IN SHARJAH INTERNATIONAL ALEXANDER MCQUEEN’S MAYFAIR PENTHOUSE REFURBISHED AS A HOMAGE IS ON SALE FOR DH38.8M LONDON’S TOP BOROUGHS SEE PRICES PLUMMET MOST IN FIVE YEARS 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 DUBAI TOWN SQUARE LAUNCHES NEW TOWNHOUSE COMMUNITY NOOR Thursday, 17 November, 2016 Offering another opportunity for middle income professionals to shift from rental homes to ‘live at your price’ owned homes, Town Square has unveiled a new community of townhouses in a cosy green neighbourhood at a very attractive price range for the wide array of amenities and exceptional location in the heart of a trendy, integrated community. Following the success of its residential launches, with the first homes scheduled to be handed over in 2017, Town Square, an integrated master-planned development by Nshama, is now launching Noor Townhouses – assuring a one-of-a-kind value proposition. Noor Townhouses come in a choice of three- and four-bedrooms, making it a first choice for families. These townhouses are set in three neighbourhoods, assuring a more intimate community-feel. Each neighbourhood has a distinct elevation and its own community club that has a swimming pool, children’s pool, modern gymnasium, changing areas, showers, common area, kids’ playground and tennis courts. There will be a central community centre too with community-oriented activities. Most townhouses also offer pedestrian access to the community clubs and community centre. With 24-hour security and two access points, Noor Townhouse neighbourhoods stand nestled within green boundaries and spectacular landscaping assuring residents complete privacy in a tranquil environment. Located near the entrance of Town Square, near Al Barsha, in easy proximity to popular malls as well as the Al Maktoum International Airport, which is less than 20 minutes away, Noor Townhouses promise a ‘town square’ lifestyle, with effortless access to a wide range of amenities such as parks with water features, jogging, state-of- the-art fitness facilities, swimming pools, outdoor gymnasiums, skateboard parks and children’s play areas. They are also in walking distance of the popular Al Qudra cycle track. Fred Durie, Chief Executive Officer of Nshama, said: “The launch of Noor Townhouses follows the overwhelming demand for our residential offerings, especially from families, with all our earlier launches reporting strong response from those who aspire to have an own home at affordable prices in the heart of a vibrant community. We have redefined the industry standards with our focus on thoughtfully designed homes that are set in elegant neighbourhoods with all amenities in close proximity. Noor Townhouses will appeal particularly to those who cherish living in a green environment with a host of outdoor lifestyle pursuits.” Noor Townhouses are located in walking distance from the heart of Town Square - a central square, the size of 16 football fields. It features Vida Townsquare Dubai hotel and a Reel Cinemas cineplex in addition to a 2.5 million sqft retail precinct featuring over 600 stores and F&B outlets, among others. 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 Thoughtfully designed by taking into consideration the daily needs of residents, Noor Townhouses open to green vistas with all homes featuring large balconies. The 3-bedrooms range in size from 200 to 208 sq m, with prices starting at AED 1,188,888. All homes have a private rear garden, room for domestic help, open bistro kitchen layout, storage utility areas and covered garage for two cars. In-built cupboards, high quality fixtures and finishes are standard across all homes, which also have high-speed fibre-optic data connectivity. The spacious master-bedroom has en-suite bathroom and patio doors opening onto a private balcony or terrace. Soothing, hygienic and naturally-cool ceramic tile floors bring welcome relief at the floor level. Bathrooms are equipped with water-conserving mechanisms while noise-isolating windows let in abundant natural light. Sale of Noor Townhouses commence on Saturday 19 November, 8am, first-come, first-served, at the Nshama Sales Centre on Mohammed Bin Rashid Boulevard in Downtown Dubai. For more details, visit www.nshama.ae or call: 800 674262 (toll free UAE) or +971 4607 8990 (international). The Nshama Sales Centre has representatives of financial institutions for easy document processing. The Centre is open daily from 10am to 8pm from Saturday to Thursday, and from 2pm to 7pm on Friday. 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 4 ASSET MANAGEMENT SALES LEASING VALUATION & ADVISORY SALES MANAGEMENT OWNER ASSOCIATION ALDAR AWARDS DH30M EARLY WORKS CONTRACT FOR MAYAN Monday, 14 November, 2016 Aldar Properties PJSC (‘Aldar’), Abu Dhabi's leading listed property development, investment and Management Company, has awarded the early works contract for the first phase of Mayan, a luxury residential development located on Yas Island, to Dutch Foundation & Concrete Rehabilitation Company WLL. The Dh30 million contract provides for shoring, piling and earthworks for Mayan’s 512 luxury apartments which are spread across five buildings. The Abu Dhabi-based full-service engineering foundation company, Dutch Foundation & Concrete Rehabilitation Company WLL, has been appointed to carry out the work over a five month period with commencement effective immediately. Talal Al Dhiyebi, Chief Development Officer at Aldar, commented: "The enthusiasm for Mayan since its launch last year has been extremely encouraging. We have witnessed strong demand for luxury residences in prime locations, and Mayan caters to this demand with high quality homes in Abu Dhabi’s most exciting destination, Yas Island which is home to a number of world class amenities and attractions." Situated on Yas Island, Mayan offers studios, one, two, three and four-bedroom apartments, as well as a select number of golf course homes and beach-front villas. 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 5 ASSET MANAGEMENT SALES LEASING VALUATION & ADVISORY SALES MANAGEMENT OWNER ASSOCIATION SHUROOQ BREAKS GROUND FOR DH45M AL BADAYER DESERT CAMP DEVELOPMENT IN SHARJAH Tuesday, 15 November, 2016 The Sharjah Investment and development Authority (Shurooq) has commenced the implementation of Al Badayer Desert Camp project, valued at Dh45 million, which is expected to become one of its premium leisure and adventure destinations in Sharjah. The project will feature a unique set of experiences for desert adventurers within the golden dunes of Sharjah’s middle region. Moreover, the project aligns with Shurooq’s comprehensive strategy to develop a variety of Sharjah’s vast oases and northern regions. Shurooq’s 24,000 m2 Al Badayer Desert Camp project includes an array of amenities and facilities that meet the needs of the most discerning of visitors, including its urban resort, desert lodge, restaurant and cafes. A main feature is its amphitheatre which will host live activities and multiple entertainment events under the stars. Additional facilities also include a mosque, recreational tents, shops, kiosks, turrets and shaded parking areas for cars and buses. The project is a 40-minute-drive away from the city of Sharjah and once completed will give visitors the opportunity to explore the wilderness and take exciting and challenging desert activities. "Since its inception in 2009, Shurooq has implemented an array of leisure and tourist projects across all regions of Sharjah. The positive commercial effect of these projects has added value to the emirate’s economy and contributed directly to the success of its economic diversification plan. Shurooq has been the major driving force behind