2011 was a good year for Palm villas as they appreciated considerably in value. On average garden homes and signature villas rose by upto 25% with Canal Coves also looking at a 20% improvement.
The Palm offers beachfronted property in a sector of the market that has restricted supply. This supply of well located property is not going to improve any time soon as the chairman of Nakheel , Ali Lootah, announced today that jabel ali and Deira are long term projects and will not be developed 'any time soon'.
Good news for Palm Jumeirah but ultimately the market needs more choice. At some point prices will look 'frothy' on the Palm Jumeirah and it will be intersting to see how far they can rise. One thing is certain though - prices on Palm Jumeirah will rise in 2012.
06 January, 2012
05 January, 2012
Garden Homes for Sale
The world economy still looks rocky with Greece looking likely to get kicked out of the Euro and France worried about losing their AAA status.
The Dubai property market is by no means flying yet certain pockets are looking strong.
One in particular is the Palm with Garden Homes performing well. With a 25% growth in 2011 there are no signs of 2012 being any different. Our agents have sold 3 garden homes on the Palm Jumeirah already and viewings are booked in for other villas.
Lets see what happens but at the moment Palm Jumeirah villas are very popular and should show steady appreciation throughout 2012
The Dubai property market is by no means flying yet certain pockets are looking strong.
One in particular is the Palm with Garden Homes performing well. With a 25% growth in 2011 there are no signs of 2012 being any different. Our agents have sold 3 garden homes on the Palm Jumeirah already and viewings are booked in for other villas.
Lets see what happens but at the moment Palm Jumeirah villas are very popular and should show steady appreciation throughout 2012
04 January, 2012
Nakheel Shoreline Tenants Angry
After another few days of Nakheel giving unclear and mixed messages it is now rumoured that Nakheel will deny access to the car parks and buildings to all residents who live in apartments where service charges are in arrears.
I agree that service charges should be paid and any developer has a responsibility to both collect these charges and provide the comensurate services.
The main point I think Nakheel are forgetting is that Dubai freehold property is learning as it goes along on how to perform 'best practice' and does not have a set of rules that can be followed and implemented yet. It is work in progress and to be fair Nakheel have benefitted from this lack of structure for years. For example, the collection and registration of title deeds which was sadly remiss by the mighty Nakheel and left the Lands Department out of pocket.
To play the heavy hand and not put in a procedure that shows an element of thoughtfulness and common sense is naive and corporate suicide in most parts of the world. As Nakheel and Emaar account for about 80% of dubai development they will always get away with behaviour which would jeopordise other developers around the world.
To threaten that they will deny access to legal tenants because a landlord hasn't paid service charges is ludricous.
A sensible solution would be to state their intentions and put in a responsible plan to address the problem. Something like the following would suffice:
1. Insist all future tenancy contracts are Ejari compliant.
2. Insist that an NOC from Nakheel is required and given to a tenant. This will show the property is fully paid and no other outstanding charges are due.
This then means that there will be a maximum of 12 months before all service charges are collected but will give a reasonable amount of time to landlords to get thier finances in order.
This is a fair compromise and ensures that all service charges are collected on rented property thus safeguarding tenants.
I think there is always a solution that suits the majority but it has to be well thought out and sensitively implemented. Not just extreme demands that are impractical and casually thrown into the arena.
Developers and Property Managers must at this stage of the property cycle work together to find soultions that benefit the market and individual developments.
I agree that service charges should be paid and any developer has a responsibility to both collect these charges and provide the comensurate services.
The main point I think Nakheel are forgetting is that Dubai freehold property is learning as it goes along on how to perform 'best practice' and does not have a set of rules that can be followed and implemented yet. It is work in progress and to be fair Nakheel have benefitted from this lack of structure for years. For example, the collection and registration of title deeds which was sadly remiss by the mighty Nakheel and left the Lands Department out of pocket.
To play the heavy hand and not put in a procedure that shows an element of thoughtfulness and common sense is naive and corporate suicide in most parts of the world. As Nakheel and Emaar account for about 80% of dubai development they will always get away with behaviour which would jeopordise other developers around the world.
To threaten that they will deny access to legal tenants because a landlord hasn't paid service charges is ludricous.
A sensible solution would be to state their intentions and put in a responsible plan to address the problem. Something like the following would suffice:
1. Insist all future tenancy contracts are Ejari compliant.
2. Insist that an NOC from Nakheel is required and given to a tenant. This will show the property is fully paid and no other outstanding charges are due.
This then means that there will be a maximum of 12 months before all service charges are collected but will give a reasonable amount of time to landlords to get thier finances in order.
This is a fair compromise and ensures that all service charges are collected on rented property thus safeguarding tenants.
I think there is always a solution that suits the majority but it has to be well thought out and sensitively implemented. Not just extreme demands that are impractical and casually thrown into the arena.
Developers and Property Managers must at this stage of the property cycle work together to find soultions that benefit the market and individual developments.
01 January, 2012
Emirates Hills Rentals
Emirates Hills is the most exclusive development in Dubai and is situated next to Emirates and Montgomerie golf courses.
Emirates Hills Renatls:
Luxury Al Hamra Villas for rent - from 700,000 per year
Bespoke 20,000 sq ft plus from 1,000,000 dhs per year
For a free consultation with the best Emirates Hills Sales and Leasing Agent call our head office.
Emirates Hills Renatls:
Luxury Al Hamra Villas for rent - from 700,000 per year
Bespoke 20,000 sq ft plus from 1,000,000 dhs per year
For a free consultation with the best Emirates Hills Sales and Leasing Agent call our head office.
Emirates Hills
After a successful year for sales and rentals on the Palm we decided in June 2011 to branch out a little and cover the exclusive Emirates Hills development. It seemed like a natural progression from the palm as these luxury villas on Emirates Hills offer a little privacy than the Palm villas.
We were finding that some of our clinets were looking at the Palm villas and although impressed with the shorleine and beachfront living wanted to explore another option.
It has made sense for us to offer Emirates Hills as part of our portfolio and the last six months has seen a steady demand for both sales and rentals. With rentals starting at 100k sterling per year it is not your run of the mill property and we even have a rental for 300k sterling per year.
There are over 650 villas in Emirates Hills and the majority of them are individually designed.With different clutural influences on show it is an interesting addition to the Palm properties which are generrally the same. There are 1400 Palm Jumeirah villas which are either Signature or Garden Homes and are basically of 6 designs internally. The Emirates Hills villas offer a totally different typr of living.
We are now firmly established in this Emaar community as one of the most successful agents withover 40 properties for sale and a designated agent hand picked to offer our discerning clients the standard of service expected from us.
With Emirates Hills as part of our portfolio Edwards and Towers is reaffirming its reputation as the leading luxury agent in Dubai.
We were finding that some of our clinets were looking at the Palm villas and although impressed with the shorleine and beachfront living wanted to explore another option.
It has made sense for us to offer Emirates Hills as part of our portfolio and the last six months has seen a steady demand for both sales and rentals. With rentals starting at 100k sterling per year it is not your run of the mill property and we even have a rental for 300k sterling per year.
There are over 650 villas in Emirates Hills and the majority of them are individually designed.With different clutural influences on show it is an interesting addition to the Palm properties which are generrally the same. There are 1400 Palm Jumeirah villas which are either Signature or Garden Homes and are basically of 6 designs internally. The Emirates Hills villas offer a totally different typr of living.
We are now firmly established in this Emaar community as one of the most successful agents withover 40 properties for sale and a designated agent hand picked to offer our discerning clients the standard of service expected from us.
With Emirates Hills as part of our portfolio Edwards and Towers is reaffirming its reputation as the leading luxury agent in Dubai.
Shoreline Beach Club Dispute
As a Property Manager of many shoreline apartments you can imagine the problems we are facing these past 2 months at the 'shorelines'.
Since November 2011 Nakheel have been looking to implement a new scheme for accessing the beach and gym areas.
Since Novemebr 2011 The Shoreline owners have been locking horns with Nakheel.
They say that possession is 9/10ths of the Law and it certainly looks that way with Nakheel. They have the ability to assume possession and have ramped up security to turn people away. This has led to the police being involved on a number of occasions, which must be a complete waste of their time.The confusion of who is right or wrong is likely to rumble on and until someone higher up steps in then it is unlikely to be a problem that is solved any time soon.
Although RERA have now said Nakheel cannot deny access to 'communal' areas this is sufficiently ambiguous to allow Nakheel to carry on in the same manner and now claim that the beach and gyms are and never were 'communal' areas.
So we have what should have been a statement of clarity from RERA which has had no positive results in deciding the future.
This has recently culminated in a New Years Eve spat where residents have tried to access the beach to watch the city fireworks and have been threatened with the police.Another complete waste of police time.
It will be interesting to see what happens but in the meantime we have a situation which is upsetting innocent tenants and is in danger of affecting the rental market.
It is a dispute that no single landlord can influence and needs RERA to step in and make a clear statement and ensure that Nakheel's actions are legal and justified. If it comes from RERA the landlords will have to accept the ruling regardless of which way it goes. We need closure on this problem.
Since November 2011 Nakheel have been looking to implement a new scheme for accessing the beach and gym areas.
Since Novemebr 2011 The Shoreline owners have been locking horns with Nakheel.
They say that possession is 9/10ths of the Law and it certainly looks that way with Nakheel. They have the ability to assume possession and have ramped up security to turn people away. This has led to the police being involved on a number of occasions, which must be a complete waste of their time.The confusion of who is right or wrong is likely to rumble on and until someone higher up steps in then it is unlikely to be a problem that is solved any time soon.
Although RERA have now said Nakheel cannot deny access to 'communal' areas this is sufficiently ambiguous to allow Nakheel to carry on in the same manner and now claim that the beach and gyms are and never were 'communal' areas.
So we have what should have been a statement of clarity from RERA which has had no positive results in deciding the future.
This has recently culminated in a New Years Eve spat where residents have tried to access the beach to watch the city fireworks and have been threatened with the police.Another complete waste of police time.
It will be interesting to see what happens but in the meantime we have a situation which is upsetting innocent tenants and is in danger of affecting the rental market.
It is a dispute that no single landlord can influence and needs RERA to step in and make a clear statement and ensure that Nakheel's actions are legal and justified. If it comes from RERA the landlords will have to accept the ruling regardless of which way it goes. We need closure on this problem.
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