Tag Archives: dubai investment news
Dubai building hailed for its sustainability
The eco-friendly headquarters of The Change Initiative – a UAE-based sustainability organisation – has broken a world record.Leaders of the US Green Building Council confirmed the property had posted an unrivalled score of 107 under the Leadership in Energy and Environmental Design (LEED) sustainability guidelines, beating the previous record of 104.The LEED Platinum index is used to monitor how environmentally-friendly buildings are and the maximum overall rating is 110.It should come as no surprise that The Change Initiative has landed the prestigious accreditation, as the business is centred around encouraging people to live more sustainably. The firm supplies household products, appliances and building solutions that are aimed at reducing harmful carbon emissions.Chief executive and founder of The Change Initative Gundeep Singh said achieving LEED Platinum certification is a proud moment for Dubai and the UAE as a whole.”We look forward to working closely with all of our stakeholders and together taking small steps on our journey towards responsible living across the UAE,” he remarked.Meanwhile, chairman of the enterprise Loek Malmberg thanked the UAE government for its policy of helping small and medium-sized businesses to flourish.”Dubai increasingly understands the importance of introducing more sustainable practices in order to safeguard its long-term prosperity,” he commented.There has been a concerted effort from the government and building developers in recent years to ensure Dubai becomes a more eco-friendly emirate.The city is renowned for its massive skyscrapers and record-breaking constructions – and with experts predicting a further 28,000 residential properties to be built this year – it is important the sheikhdom minimises its impact on the environment.Last month, AMEinfo reported that the Dubai Land Department had joined forces with the Arab League to stage the first ever Arab International Sustainable Real Estate Conference in the UAE.Organisers of the event said the fact it was being held in Dubai reflected the city's commitment to promoting sustainability throughout the construction industry.The First Group can help you find superb properties for sale in Dubai Continue reading
Emaar eyes tower even taller than Burj Khalifa
Emaar Properties is considering building another world-record breaking tower bigger than its own Burj Khalifa, which is the current holder of the world’s tallest building, according to its chairman Mohamed Alabbar. “We may try to build something a little taller,” Alabbar said at a conference in Dubai. “The emirate needs another tall building. Dubai is only about 30-year old, so we have a lot of time and lot of investment left,” he added. Emaar Properties built the 828-metre Burj Khalifa tower in 2010 and is also involved in the Kingdom Tower, which is being developed by Prince Al-Waleed bin Talal and is under construction in Jeddah. The Saudi tower is reportedly set to be as high as 1km tall. Already the holder of the world’s tallest building title, the new plans Alabbar has hinted at would have appeared fanciful three years ago, when a crash in the inflated real estate market triggered a corporate debt crisis and a slew of company restructurings. But Dubai, home to an archipelago of man-made islands and an indoor ski slope in one of its shopping malls, staged a dramatic economic recovery last year, partly because of a tourism boom. Tourist arrivals grew 10 percent and hotel revenue rose 19 percent in the first half of 2012. Some state-linked companies have been working through their debt loads while some property prices have started to rebound. Continue reading
Is a new property law set to be introduced?
New legislation has been proposed that will give Dubai property investors greater levels of protection.According to the Real Estate Investment Management and Promotion Centre of the Dubai Land Department (DLD), the Tanweer law has been set up and is now ready to be officially sanctioned, the National reports.The organisation said that legal experts had given feedback on the draft regulations last year.Head of the centre Majida Ali Rashed told the news provider the law – which protects the rights of real estate investors and aims to create more transparency across the sector – is the first of its kind in the world.”The [DLD] will issue in the coming period a fully integrated law that will protect the rights of real estate investors through a comprehensive framework based on transparency and clarity of the contractual relationship between the developers and the investors,” she was quoted as saying.Experts have welcomed the impending introduction of the law and stated that more information would be made available once it is officially put in place.Alexis Waller, partner at the legal firm Clyde & Co, said anything that enhances confidence in the city's property sector is to be welcomed and the rules have been set up in a way that balances the interests of both developers and investors.Several recent studies have highlighted the growing demand for property in the UAE and it is generally accepted that the government's proactive approach to stimulating investment activity in the country is one of the main reasons for its popularity.Earlier this month, Global Investment House's GCC Real Estate Quarterly report showed the UAE and Saudi Arabian property markets are still leading the way in the Middle East.The research indicated that Dubai landlords were able to hike their rents by ten per cent in the first quarter of 2013, while the hospitality and commercial property sectors also performed extremely well during the three-month period.With new legal safeguards in the pipeline as well, it is easy to see why Dubai is one of the most sought after investment hotspots on the planet at the moment. The First Group can find you some excellent properties in Dubai Continue reading
