insights into the dubai property market

Sunday, October 09, 2005

vested interest in interested rates? interested?

http://www.arabnews.com/?page=6&section=0&article=52046&d=27&m=9&y=2004

for the more economically minded, or even if you're thinking of getting a home loan in dubai, get some info about what's driving the middle-east interest rates from Dr. Henry T. Azzam, Dr. chief executive officer at Jordinvest.

Adrian Smith on designing the Burj Dubai

http://www.emporis.com/dk/nc/iv/as/

Adrian Smith is a consulting design partner with the architecture firm of Skidmore, Owings & Merrill LLP, and is one of the most recognized architects in the world. His work includes several major skyscrapers, including the tallest building in China. In the following conversation with Emporis.com's Director of Communications Tom Finnegan, Mr. Smith discusses his design philosophy, the economics and engineering of tall buildings, and his project history including a new world's tallest building.

Wednesday, September 21, 2005

who's gonna buy all these houses?

If we were to consider that only households in Dubai with a combined annual income greater than AED 420,000 (US$115,000) could actually afford a freehold property, then the potential home buyer market shrinks to roughly 11,100 total households between 2004 and 2010, or approximately 1,600 new households purchasing residential property per year, according to analysis and the most recent Income and Expenditure Survey conducted by the Dubai Municipality in 1998. If we assume an additional one per cent of all households within the UAE that are living outside the emirate of Dubai as potential secondary home buyers or investors in Dubai, this increases the overall potential UAE market to roughly 13,900 households between 2004 and 2010, or approximately 2,000 new households purchasing residential property per year, according to analysis and the last national census carried out by the UAE Ministry of Planning.With over 15,000 freehold residential units anticipated to come on-line within the next three years, which would satisfy UAE homebuyer demand through 2012, why do developers continue building?

more>>>

Central bank says UAE at risk of property downturn

DUBAI, Sept 19 (Reuters) - Asset prices in the United Arab Emirates are rising sharply and could lead to a sudden downturn in the booming property market next year, central bank governor Sultan Nasser al-Suweidi said on Monday. Suweidi said he expected economic growth to pick up in nominal terms to 20 percent this year while consumer inflation will rise to between 5.5 and 6.5 percent. The energy sector accounts for about 33 percent of the UAE's GDP, less than for many of its neighbours, but profits soaring from oil prices are pouring into stock and property markets, powering an economic boom and feeding inflation. Many analysts are concerned that the breakneck expansion looks unsustainable.
"We are having some asset price inflation at this point in time," Suweidi told reporters at a meeting in Dubai.
"We expect real estate to do very well until next year -- next year we will have too many housing units and if we don't take steps it will cause us certain problems," he said.
He predicted rents would fall sharply in March 2006, adding that "is something we have to deal with."
MORE>>>>

Monday, September 19, 2005

oh to be a UAE property company...


to see some financials from father christmas, check out:

http://www.emaar.com/PDF/Emaar_FN.pdf

According to Dubai's 'khaleejtimes', Emaar’s first-half 2005 profits soared fourfold to 2.5 billion dirhams...

Considering that Emaar is a company started only 8 years ago, and now on an international expansion strategy with 40 projects in seven countries before the end of this year! It's highest profile international venture is a $1 billion tie-up with Italian designer Giorgio Armani, to develop 10 Armani branded hotels.

incredible.

you want more?




if you're still feeling lost in dubai's development casino, with a new project launched every second day - visit gis.gov.ae - dubai's geographic information systems center, and go to "downloads" - download a pdf called Major Projects.

>>>>get there fast>>> http://www.gis.gov.ae/en/downloads/pdfs/Major%20Projects.pdf

projects in dubai have been meticulously mapped out in pdf format... .

this website also contains maps for other useful information and directions, like for 3-7 star hotels, and poly clinics (?? another world first??)

real-estate soup anyone?

Dubai Developments:


(click on the image to enlarge)

If you're really excited about dubai and want the 7.3Mb version to frame on your wall, post your email addy, and i'll send it to you.

dubai - the generic fantasy city

excellent artilce on Metropolitan Dubai and the rise of Architectural Fantasy - for those trying to understand dubai... (which is impossible, although interesting)

visit http://www.bidoun.com/contents04.html and open the article Metropolitan Dubaiand the Rise of Architectural Fantasy George Katodrytis.

"Dubai thrives on newness and bigness, in an act of ongoing self-stylization and fantasy. Hence architecture is crucial, for it defines these elements. Little more than a grand-scale shopping mall, the city is comprised of “mind-zone” spaces, and of airport-like lobbies. In this theme park orientated cityscape, there is no differentiation between old and new. Everything is recent. Yet everything seems to point to the twin towers of consumerism and tourism."

MUST READ: Mike Davis on a Paradise Built on Oil

http://www.tomdispatch.com/index.mhtml?pid=5807

Welcome to paradise. But where are you? Is this a new science-fiction novel from Margaret Atwood, the sequel to Blade Runner, or Donald Trump tripping on acid?
No, it is the Persian Gulf city-state of Dubai in 2010.

the forum to end all forums

www.skyscrapercity.com

for anybody interested in real estate developments in dubai, and around the world, skyscrapercity.com remains the ultimate resource! check the activity on the dubai forums, and also photo's and clips of dubai projects, cribbed from from various promotional campaigns - including dubailand, festival city, and saba towers

**to find your way around i'd start with:

SkyscraperCity Forums > Local Forums > Middle East & Africa > Local Communities > United Arab Emirates > UAE Project Development
Dubai Tower Development

then explore the rest of the site from there.

megaprojects! photo tour of real-estate wonders













check out this webpage for photo's of dubai's megaprojects, including The Palm Jumeirah, The Palm Jebel Ali, The World, The Palm Deira, Burj Dubai (plus Burj Dubai Residences, Old Town and Dubai Mall), The Mall of the Emirates, Dubai Airport Expansion, Dubai Marina, Jumeirah Beach Residences, Dubailand, Dubai International Financial Center, Dubai Festival City, Al Badia Golf Resort, International City, Chinamex Dragon Mart, Dubai Healthcare City, Academic City, Zayed University, Silicon Oasis, Hydropolis, Humanitarian City, Dubai Internet City, Dubai Media City, Dubai Knowledge Village, Business Bay...

most of the photo's are pretty recent. Dubai is growing so fast, it's difficult for any webpage to keep up...
www.pbase.com/bmcmorrow/dubaiprojects&page=1

Sunday, September 18, 2005

watch where u step!

i created this blog to share ideas, weblinks, pics, and other research on the dubai property phenomenon. from my experience in marketing property in dubai, i meet people everyday gambling in the desert oasis; either playing the speculation game, buying to let, to develop, to live, or just to dream about the day their gold-clad marble palace will leave the fantastically 3d-rendered plastic leaves of a sales brochure to adorn a mass-produced shoreline nearby...

most of these Investors have scant knowledge/experience about the dubai property market, hardly any access to official data (however helpful) and would otherwise be buying a rusty piece of concrete in the desert if it weren't for fantastic blokes like me who provided the ignorant with great weblinks, opinion, pictures, research and articles on the property petals (and thorns) to pick in the dusty desert rose..... Dubai.

so, in attempt to make infomation about dubai property markets more accessable, and my conversations with investors less repetative, sinkingsands is here!