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Dubai Freehold Property Guide Second Edition 2007


His Highness Sheikh Mohammed Bin Rashid Al Makhtoum Vice President and Prime Minister of UAE and Ruler of Dubai


Dubai Freehold Property Guide Second Edition 2007 Published by

Land Department Government of Dubai Post Box 1166 Tel: +9714-2222253 Fax: +9714-2222251 www.dubailand.gov.ae email: info@dubailand.gov.ae Official Publisher & Distributor

Sterling Publications Publishers of UAE Digest & UAE Banking Review G01, Loft Office 2, Dubai Media City, Dubai, UAE Tel: +9714-3672245; Fax: +9714-3678613 www.sterlingp.ae email: info@sterlingp.ae Printed at

Asiatic Printing Press LLC., PB 3522, Ajman, UAE Tel: +9716-7434221; Fax: +9716-7434223 www.asiaticpress.com; email: asiatic@eim.ae Copyright The contents of the Guide may not be reproduced in part or whole without the written consent of Land Department, Dubai Government or Sterling Publications


We’re listening.


PREFACE

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ubai has been in the forefront of developing the freehold property sector, which has provided remarkable impetus in this area not only within the country, but the region as a whole. The Dubai Land Department is a focal point in the development of this sector and as such has initiated a number of moves with the objective of establishing the foundation for a globally attractive real estate sector in Dubai that satisfies and guarantees all stakeholders’ rights and expectations. As part of this effort, several new laws and regulations with far-reaching implications have been introduced in recent times. The Land Department had published the First Official Freehold Property Guide in 2006, providing information on a wide range of subjects, including Dubai Property Laws, Guidelines and Procedures for registering property transactions etc. But since

the publication of the first edition, there have been significant additions to the legal framework, including the establishment of the Real Estate Regulatory Agency, the introduction of the Trust Account, the adoption of the Code of Ethics for the practice of brokerage etc. This Second Edition of 2007 incorporates the details of many of these initiatives. We hope that the publication would serve as a valuable tool for all those who are connected to the real estate and freehold property sectors. Disclaimer: While every effort has been made to provide accurate and appropriate information, the Directories and other listings do not claim themselves to exhaustive and the Land Department is not responsible for any omissions or mistakes. Similarly, the views and opinions expressed in contents provided by developers, brokers and other parties are not necessarily shared by the Department.


DUBAI FREEHOLD PROPERTY GUIDE

CONTENTS 13 Overview

Customer Protection RERA Overview Laying the foundation Beginning of a new era

31 Land Department Services

43 Property Laws

Land Registration Designated Freehold areas Trust Law for Developers Brokers Registration Law

73 Registration Procedures

Properties brought from Developers Mortgages CAD/GIS Interoperability standards Trust Accounts Registration of Brokerage

101 Code of Ethics for real estate practice

Ensuring an ‘ethical’ property market Forms

125 Maps 153 Developers

NaKheel Dubai Properties Sama Dubai Emaar

201 Directories Developers, Banks, Brokers, Law firms, Contractors

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DUBAI FREEHOLD PROPERTY GUIDE

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Overview

DUBAI FREEHOLD PROPERTY GUIDE


Customer protection is Land Department’s overriding priority

Director-General Sultan Butti Bin Mijrin says new regulatory regime will bring maturity to the market Sultan Butti Bin Mijrin, Director-General of Dubai Land Department

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ubai Land Department’s main concern is to safeguard the interests of customers, says Sultan Butti Bin Mijrin, Director-General of the Land Department. As the requirements of the customers have increased in the wake of the growth of freehold sector in Dubai, the Department has also grown significantly. The setting up of the Real Estate Regulatory Authority under the Land Department, for instance, is a major landmark in the expansion of the department. The role of real estate in Dubai’s economy has seen unprecedented importance and as such real estate related investments estate investment account for a major part of the emirate’s GDP. As regional and international interest in Dubai’s real estate is increasing and the market becoming more and more sophisticated, there is need for strong and credible systems in all areas related to the market.  That’s why the Department has launched a number

of regulatory initiatives, including the provision for trust account and the regulation of real estate agents, Mr Bin Mijrin said. The Department is harnessing all the resources at its command to achieve this objective. Sultan Butti Bin Mijrin said: “Dubai Land Department has taken a hands-on approach to develop legislation in the emirate’s real estate industry to ensure the highest levels of protection for property investors as well as to enhance confidence levels in this sector.” The Department has specialized agencies working in various areas, but all of them work like a cohesive team and have the common objective of safeguarding the interest of the customers. The Land Department has a track record of excellence in dealing with its customers and has won several awards in recognition of such service. But the customers were mostly UAE nationals, who are

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aware of the high standards. But with the opening up of the freehold sector, the Department has new segments of customers, who are not familiar with the Department’s service quality and the extent of services offered by it. So the Department is giving top priority to effectively communicating with its new customers. “The doors of Land Department are open to everyone and we want the public to directly approach us,” he said. “We want to assure people that when it comes to land and property transactions, they can deal directly with the Department.  The Land Department promotes transparency in everything related to real estate, so that it is easy for everyone,” Mr Bin Mijrin said. The Land Department wants to be a single-point contact for all the correct information and provide a record of all transactions taking place in the real estate sector.  Customers sometimes find themselves in trouble because they are going by wrong advice while all the information that is required to take an informed decision is readily available from the Land Department. It is a pity that people are not doing proper research and due diligence before committing their money. It is in the best interest of all parties involved in a transaction to register it with the Land Department. It not only makes the deal authentic, it also helps avoid unnecessary additional costs. For instance, some developers are reportedly charging up to 10 per cent for the transfer of properties.  This is in addition to the charges to be paid to the Land Department for registration of the transfer. If the buyer directly approaches the Department for the transfer, the deal can be transacted at a much lesser cost. The transaction done by the developer between the original buyer and the new buyer will at best be a contract, but it cannot be considered a title. Only the Land Department has the powers to issue titles deeds. The Department keeps collecting feedback from the public on various initiatives launched recently, and the response has been very positive, he said. There is a general consensus across the real estate industry that the new regulatory initiatives would go a long way in ensuring the growth of a sophisticated and mature real estate market in the emirate. On the provision of escrow account for developers, for instance, there have been only isolated cases where the developers have expressed concern that the new regulations would slow down the market. But the stipulation will not affect serious and resourceful developers who are into the business for the long haul. It will only affect who are keen to

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get into the business only because there is money to be made from a boom situation in the market. “Such apprehensions only stem from that particular developer’s difficult situation, rather than anything wrong with the regulation,” Mr Bin Mijrin pointed out. Similarly, the stipulation that any seller has to first take the Land Department’s permission to put up the property for sale is to ensure that he can sell only what he owns. This eliminates the possibility of any fraud being committed and thus safeguards the interest of the investors. The Director-General said that the Department would soon launch a campaign under the title ‘Proof of Ownership’ to create awareness about the need for compulsory registration of property transactions with the Land Department. Some people fail to register their deals due to the mistaken notion that they can save some money by way of registration charges. But it is very important that the transaction be registered with the Department so that when there is a problem, there are authentic records to fall back upon.


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Real Estate Regulatory Agency: An overview

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he setting up of Dubai Real Estate Regulatory Agency (RERA) was decreed by His Highness Sheikh Mohammed Bin Rashid Al-Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai, on July 31, 2007 as a service agency under the Dubai Land Department to regulate Dubai’s real estate sector. As an agency set up under the Land Department, RERA is a government entity, with its own financial and administrative independence and vested with full legal authority to regulate the real estate sector. RERA’s main objective is to establish the foundation for a globally attractive real estate sector that satisfies and guarantees all stakeholders’ rights and expectations. RERA has four main areas of operation, which include. Policy and Strategy Development; Regulation & Registration; Research & Studies, Programmes & Projects. RERA has been launched as a part of Dubai’s 2015 vision for economic development and falls in line with the current developments within the real estate sector. RERA’s main responsibilities lie within a framework of ten specific areas and include licensing of all real estate activities, managing developers’ trust account, licensing and organizing real estate agents, regulating and authenticating rental agreements, regulating and supervising owners’ associations, regulating real estate related media advertising, regulating and licensing real estate related exhibitions, publishing and circulating official sector research and studies, enhancing national participation in the real estate sector and increasing real estate awareness. A major responsibility of RERA is the management of a trust account for developers under the Law number 8 of 2007. The central aim of this Law is to protect purchasers who contract to buy property from developers ‘off-plan’, before the property has been constructed. The main mechanism for achieving this is

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through the introduction of mandatory ‘Guarantee Accounts’ into which purchasers’ money is paid and from which, until completion of the development, only approved expenses can be met. In addition to providing financial security for purchasers, the Law also protects purchasers by helping to ensure that their properties will be completed in accordance with the contractual specifications and timetable. No off-plan sales in a development can commence until architectural plans have been approved by the relevant authorities, a financial model has been approved by the project’s consultant and auditor and the developer is in a position to commence construction within six months. Developers looking to sell property ‘off plan’ must first obtain a permit from the Dubai Land Department to authorize marketing activity in connection with the sales. This process should eliminate the threat of bogus projects and qualify developers and categorize developers in a more appropriate manner. Then opening a ‘Guarantee Account’ with an ‘Account Trustee,’ which will hold all monies received from purchasers or their financiers, all monies advanced by a bank or financial institution financing the project on behalf of the developer and the developer’s own capital contribution. The Law also provides comfort to the mortgage financiers that the funds provided to each purchaser or borrower are directly deposited in the ‘Guarantee Account’ and as a consequence the developer may not have access to such funds but in accordance with the ‘Guarantee Account’ Agreement. The risk, albeit minimal, is that such mortgage financier has to rely on the ‘Guarantee Account Agreement’ negotiated between the developer and the Account Trustee bank. Developers will now be required to undertake much more preparatory work and reach a more advanced stage in the project before they can start to sell their properties. As a general rule, monies can only be paid out


from the Guarantee Account to settle the invoices of contractors and consultants engaged in the project. Not all the expenses incurred by the developer in connection with the project qualify to be paid from the Guarantee Account. For example, only an amount up to 5 per cent of the Guarantee Account proceeds may be applied toward the costs of marketing the project. The developer’s general business overheads cannot be paid from the Guarantee Account. For banks and financial institutions involved in housing finance, the ‘Guarantee Accounts’ Law provides an additional revenue stream as a low risk value addition to the real estate industry. Banks and other financial institutions are required to register with the Land Department as an authorized ‘Account Trustee’ provided such institutions fulfill the Land Department criterion. If a bank acting as an ‘Account Trustee’ is also the financiers to the project or development then such a bank maintains a level of control over the funds being pooled for such a real estate project or development. Such protection was not present earlier and banks would have to rely on contractual undertakings of the developers vis-à-vis registrations of title and mortgage. ‘The ‘Guarantee Account’ is opened strictly in the name of each real estate development (of the relevant developer) therefore preventing the developer to allocate funds in the ‘Guarantee Account’ to any other project or development. From a consumer protection standpoint, in the event a project is abandoned by the developer, the funds would be refunded back by the Accounts Trustee bank to the depositors (individuals and banks alike) after consultation with the Land Department. The Land Department would have provided a certain level of flexibility to negotiate the Guarantee Account Agreement with registered developers. Therefore it is imperative for banks and financial institutions to move forward to a market standard Guarantee Account Agreement structure

with a suitable mechanism of depositing of funds, release of funds (on the basis of completion of milestones), retention of amounts and other necessary provisions in accordance with the rules and guidelines of the Land Department. In terms of compliance, Article 18 of the Law requires developers to complete all required steps within 6 months of its enactment, or by 28th December 2007. If off-plan sales have commenced, the project will fall into one of three categories: projects where 70 to 80 per cent of the construction has been completed have no requirement to open Guarantee Account. Projects where construction is beyond shoring stage have to open their ‘Guarantee Account’ by 28th December 2007, and project where construction has not yet started or are up to shoring stage need to open their ‘Guarantee Account’ immediately. The Law also comes with teeth. Penalties of imprisonment and/or fines starting at Dh100,000 are applicable for offences, which include a developer dealing with a real estate broker who is not registered in the Land Department’s Brokers Register. A developer’s registration at the Land Department may be cancelled in case of bankruptcy, failure to commence construction within six months of receiving approval to sell off-plan, cancellation of license, violation of this new law and any other laws and/or by laws regulating real estate development activity. RERA will deal with all areas in the real estate sector. A separate agency will be formed at a later date to deal exclusively with the ongoing registration of freehold title deeds in Dubai. The Land Department has two core businesses – registration, and monitoring and regulating and the market. All regulation and monitoring will be handled by this new agency. The regulatory system in Dubai is set to receive a completely new look in view of the setting up of RERA. Of the different new regulations, total

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How do you...?

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ERA has launched a nationwide campaign to create awareness about the emirate’s booming real estate sector. And the campaign is called ‘How Do You’? How do you secure your investment? The answer to that is ‘trust only those people who have a ‘trust account’. Do that and you will never rue the day! Another ‘how do you’ is ‘how do you get all the vital real estate information’? Yes, how do you? The answer is the RERA website: your portal to truth, and all the information you’re seeking as far as real estate goes. The ‘How Do You’ campaign focuses on creating awareness of the RERA regime, how people can spot a project, get good deals, receive guidance on the broker’s card, how do they register with the Land Department etc. It is a comprehensive guide to warn ‘buyers to be aware.’ The ‘How Do You?’ campaign, as the name suggests, will help buyers of real estate on issues related to research, approved project, importance of the escrow account, about the existence of real estate portal etc. There will be a series of advertisements and awareness campaign, each individually dealing with one aspect of the RERA. It is important to check a real estate project with a number and trust will be established through a ‘trust account.’ So, how about finding out ‘How Do You’?

change in the rental agreement, registration and licensing of brokers, introduction of agents cards along with guidelines for ‘Code of Ethics’ or best practices for real estate agents, formation of residents association (Strata Law), introduction of Escrow Account are some of the most important. On the cards is also the introduction of real estate development licence, brokers licence, community and facilities management rules, norms pertaining to building inspection etc. As part of the Strata Law, the authority will prepare an authenticated record of all existing owners association, uphold owners’ right in managing and maintaining common hold. The new regulatory system will also take care of all the sales in the secondary markets. RERA will be responsible for licensing all real estate activities in the emirate, including the licensing of real estate agents and owners associations. The regulation of real estate agents will include registering and qualifying such agents, identifying the need for service providers in the sector, monitoring of the activities of real estate agents and the introduction of key performance indicators. As part of the Strata Law initiatives, the agency will set up an authenticated record of all owners welfare associations, uphold owners’ rights in managing and maintaining common hold areas, provide owners with registered bodies to maintain and manage common hold areas and ensure transpar-

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ency between the developers and owners associations. RERA’s activities are so extensive that they would cover even real estate advertisements issued by various players in the sector. Similarly, the agency will license and regulate real estate exhibitions and undertake and publish studies on various aspects of the sector. In this respect, the agency will take such measures as necessary to ensure credibility of such advertisements, apart from promoting transparency and cooperation with the local media. It will also launch campaigns to increase awareness about various aspects of the real estate sector and encourage national participation in the sector. In terms of the regulation of rental agreements, RERA will establish the law that will govern the relationship between landlords and tenants and introduce standard formats of tenancy agreements and certify them. In case of disputes, the agency can get involved and suggest solutions. Another important activity in this regard will be the establishment of a database for the rental sector. As part of RERA, a new website will be launched ‘Dubai real link’ to make all listed projects available on line so that there is one registration system for the whole UAE. The first phase will be complete by February 2008 and the full link will be operational by June 2008.


DUBAI FREEHOLD PROPERTY GUIDE

Laying foundation for a globally attractive real estate sector Chief Executive Marwan Bin-Ghalita explains role of RERA

Marwan Bin Ghalita; Chief Executive, RERA

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he Real Estate Regulatory Authority’s (RERA) main objective is to establish the foundation for a globally attractive real estate sector that satisfies and guarantees all stakeholders’ rights and expectations, according to Marwan Bin Ghalita, Chief Executive of the agency. It will be run as project management department. RERA has been established as a part of Dubai’s 2015 vision for economic development and falls in line with the current developments within the real estate sector, he said. The agency will be responsible for four key aspects of the real estate sector, such as policies and strategies, regulation and registration research and studies as well as programmes and projects. “It is a Government project and the idea is to have a complete circle. Starting from looking into economic sustainability to attracting foreigners, it will look into all aspects. Our objective is to solidify the real estate sector’s foundations in terms of rules and regulations while at the same time keeping it attractive to local, regional and international investors,” Mr Marwan Bin Ghalita said. Dubai- ‘the global Arab city’ is an extremely competitive market and with the transformation happening in every area in order to take right decisions one need to have guiding rules and regulations. As more and more international companies are showing in-

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terest to come here, everybody wants to work in a regulated and organised market, where investment can be based on trusted information, he said. This will obviously change the existing structure of real estate market and regulation. The existing real estate licence deals with buying, selling and managing real estate. RERA is planning to introduce real estate developers licence, mortgage brokers license, building inspection facilities and communities and facilities management. Soon after the launch of RERA, Mr Bin-Ghalita presented the agency’s mandate to over 250 DPG members and other high ranking real estate professionals, outlining the areas of operation and future plans. Mr Bin-Ghalita highlighted RERA’s main responsibilities within a framework of ten specific areas which include: licensing all real estate activities, managing developers’ trust account, licensing and organizing real estate agents, regulating and authenticating rental agreements, regulating and supervising owners’ associations, regulating real estate related media advertising, regulating and licensing real estate related exhibitions, publishing and circulating official sector research and studies, enhancing national participation in the real estate sector and increasing real estate awareness. The formation of RERA comes at a time when


land sales in Dubai are continuing an upward trend where in 2006 total land sales registered by the Dubai Land Department topped Dh65 billion. So far in 2007, land sales have exceeded Dh46 billion, which amounts to 71 per cent of last year’s figures.. The Chief Executive said RERA will deal with all areas in the real estate sector. A separate agency will be formed at a later date to deal exclusively with the ongoing registration of freehold title deeds in Dubai. The government has become working on all these issues for the past six months and there is definite time frame to implement the action plan for all the regulations. The authority is expected to tackle critical agreement one by one. “we are currently developing a comprehensive market study, leading to the creation of the Real Estate Index to assess the demand and supply situation, based on which we will make our future recommendations. We are talking to all the government departments and development companies to collect information for the index that will give the right picture to the consumers. We plan to finalise this study by the end of the year, to be able to make recommendations at the beginning of the next year. “If you look at whatever real estate statistics that has been published so far, it’s all from unofficial quarters. The only authentic data available is about the transactions happening in the Dubai Land Department. That’s why the compilation of data, including that on demand and supply, by RERA is of utmost importance”. “We are making sure that all the data that we publish is genuine and 100 per cent accurate because it’s going to be the first official report by the government on the issue”. One of RERA’s responsibilities would be to certify rental agreements with a view to regulating the rental market and establish a proper database which will help determine demand and supply.

RERA will regulate freehold, 99-year lease and rental market, once the Real Estate Index is completed by the end of this year. ‘We are finalising a model three-to-five-year tenancy agreement so that the tenants can tackle the rising rental costs. It will be a model tenancy agreement in which all the rights and privileges of the tenants will be reserved. We will ensure that everyone strictly adhere to the contracts. The longterm contracts will be transparent and fix the rents for that period and help the tenants in coping with the rising rental costs,” he said. At the same time, the idea of RERA is not to police the market but to help it evolve in a much more professional manner. “We do not want to police the market, rather allow the market forces to reshape in a more professional manner. We will try to enforce this,” he said. But RERA will have an advisory role on issues like the rent cap. The Rent Committee’s role will continue, but the committee many not be adequate to tackle all the issues. Dubai actually needs a property arbitration centre, he said. Although the number of rent disputes will reduce drastically once the long-term tenancy comes into effect, the time is right for Dubai to set up a property arbitration centre. The government is also drafting legislation preventing landlords from evicting tenants on short notice or without adequate cause, Mr Bin-Ghalita said. The new law would also protect landlords from tenants who consistently failed to pay their rent. “Right now, it’s a crisis situation that prevails as house owners rent their properties without registration and proper agreements and that’s causing a huge problem, especially in family community areas, where neighbours rent accommodation to bachelors on weekly or monthly basis, creating a social problem. Our regulations will cover this aspect also,” he said

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Beginning of a new era Best of the world regulations modified to suit Dubai’s needs, says Director Mohammad Sultan Thani

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he establishment of Real Estate Regulatory Authority under the Dubai Land Department and all the recent legislative and administrative initiatives mark the beginning of a new era for the Land Department, according to Mr Mohammad Sultan Thani, Director of Development and Marketing Administration. Mr Thani said the new developments are in keeping with the far-reaching changes that have taken place in the real estate market in recent times. “Earlier, the Land Department was required to service demands that were different altogether. But with the opening up of the freehold sector, the requirements in the market place have changed drastically; so also the scope of operations of the Land Department”. The property market now has several new issues to contend with and therefore is in need of more regulations. More regulations in turn mean more elaborate administrative systems and practices. The new moves by the department, including the establishment of RERA and its extensive operational canvas, will rid the market of its undesirable tendencies, he said. The regulations will

bring in more professionalism into the sector. Mr Thani said while the new Land Department regulations incorporate the best in the world, these have not been just transplanted. Dubai has adapted these concepts so as to suit the characteristics of the local situation, rather than blindly follow systems elsewhere. The provisions of the Escrow Account, for instance, allow for a higher level of risk-taking than some of their counterparts envisage. The Dubai law allows part-payments to the developer from the trust account, depending on targets stipulated in the contract, while in some other countries payments can be effected only on full completion of the project. Mr Thani said the introduction of the trust account law would help eliminate ‘fringe’ players who come to the market without adequate resources or knowledge and skills. For instance, a developer will be required to take into account all possible scenarios, including cost escalations, material availability, market trends etc before committing to deadlines and targets.

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Services

DUBAI FREEHOLD PROPERTY GUIDE


Land Department Services Sale Registration

Transaction Fees

The Dubai Land Department records real estate transactions for a small fee paid by both buyer and seller. The selling procedures are smoothly finished by the transactions section at the customer relations department after an application form is presented and provided the following restrictions were not present to hinder the process: z If the indicated land was considered a restricted grant z If the buyer or the seller weren’t competent enough to proceed in such transactions z If there were legal restrictions that hinder the process such as the land being reserved or is considered restricted land The UAE law allows the country’s local citizens and those from the GCC countries to freely sell or purchase land in the city of Dubai, as well as giving them the ability to sell any part of the land if new partners were added or removed in a process known as partial selling of the land. All other nationalities are also allowed to free own properties or lands in restricted areas.

z 1% from the sale amount

Documents Required z Certificate of the land ownership z Map of the land from the owner z Copy of the passport and nationality card of the buyer z The full address of the buyer

Transaction Location z Transactions section at the customer relations department

Mortgage Registration The Dubai Land Department credits mortgages for both individuals and different bodies. The mortgage is registered for the benefit of certified banks, government departments or local individuals and a mortgage contract is issued once the conditions are met and all necessary documents have been submitted. Mortgage contracts are credited if they relate to first degree or second degree lands (i.e. new mortgages on land areas which have been previously mortgaged) which have no restrictions and are going to be used for building purposes. However, there are some cases where mortgages are not credited such as: z If the mortgage was under age unless there was an order from the office of the Attorney General z If the involved bank was not yet licensed to conduct business in the UAE z If the indicated land was confiscated Mortgage contracts could be dissolved or modified at any time if the department received a letter from the pledgee indicating its termination or the necessary modifications on the payment method. Moreover, the mortgage could be transferred from one body to another in what is known as the mortgage transfer process.

Documents Required Registering Mortagage z Copy of the passport and nationality card z Deed of title and land map.

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z Trade licence for the pledgee in case it’s their first transaction of the kind z A letter from the pledgee including information on the mortgage and the signature of both parties involved z Mortgage contract from the bank. Mortagage Transfer z Mortagage transfer letter+original contract. z Letter from new mortgager+title deed + site map

Extending Mortgages z Letter extending the mortgage + title deed. z Original mortgage contract + passport copy

Documents Required: z Certificate of the land deed z Copy of the site map from the Land Department (if available) z Copy of the passport and nationality card of those concerned z Copy of the trade licence in the case of companies applying

Transaction Location:

Mortgage Disclosure

z Map issuing section at the transactions lounge.

z Mortgage disclosure letter+ passport, title deed. z Original mortgage contract

Transaction Fees:

Transaction Location z Application counter at the customer relations department  Transaction

Fees

z Mortgage registration fees: 0.25% of the debt amount up to the maximum of Dh1.5 million. z Mortgage transfer fees: 0.25% of the debt amount up to the maximum of Dh1.5 million. z Mortgage release: Dh1000. z Extension of payment term in a mortgage: Dh1000.

Issuance of Maps The Dubai Land Department issues site maps for land owners based on their request or as a supplementary part of other procedures, in which either the size is altered or the owners are changed such as in the case of land divisions, amalgamations, grants or selling transactions.

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The land in question will be surveyed theoretically or physically by going to the site and specifying its dimensions in reality and so issuing an accurate site map.

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z Dh100

Ownership Certificates The Dubai Land Department issues ownership certificates for the individuals who want proof of ownership. New ownership certificates are issued for the land/lands in question according to the presence of the person personally or by the official designations. The transactions durations depend on the case.

Documents Required z Site map from the Municipality  z Passport and nationality card copy for all those concerned z 2 witnesses’ legal notification if there were inheritors

Transaction Location z Application counter at the customer relations


DUBAI FREEHOLD PROPERTY GUIDE

department

Transaction Fees z Dh5000

Ownership Details Amendment Details of ownership issued by the Land Department may be amended either due to an error on the details of ownership or for not filling the space provided for the parties (heirs) in the old deeds of title, or in case of amendment in the name of the owner or the area of plot. Such procedure shall be required by the owner directly or upon observation of such error internally.

Documents Required: z Map of the plot issued from Land Department (in case of the plot area amendment) z Passports of the relevant parties z Nationality cards, Deed of Title, Name Correction Certificate from the court in case of name amendment Shariah proclamation (in case of quantifying the heirs).

Transaction Location:   z Application counter at the customer relations department

Common Property When more then one owner shares a number of lands or properties and then decide to separate their capital, the process is then known as Division of capital between partners. The Dubai Land Department performs the necessary procedures according to a pre-confirmed contract between the partners handing each one their named share after the initial land or property appraisal has been completed.

Documents Required z Ownership certificates of all the concerned lands / properties z Copy of the passport of all those concerned z Copy of the nationality card of all those concerned z Division contract between the partners documented in the Dubai land Department or enforced by a court order

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Transaction Location z Application receiving desk at the customer relations department Transaction

Fees

z 0.25% from the capital’s value + Dh10 special fee. z Dh100 every time a site map is issued+ Dh10 special fee

Title Replacement The land deed of title may get damaged or lost and upon the owner’s application, a replacement deed of title is issued after publishing a notice in the newspapers and the legal period is over, in order to avoid any objections that might arise thereafter.

Documents Required z Copy of the passport and nationality card z Copy of the legal proclamation in the case of owner’s death.

Transaction Location z Application counter at the customer relations department

Transaction Duration z 30 days from the date of publishing the notice

Transaction Fees z Dh800 as fees for issuing a replacement of the deed of title and +Dh10 (special fee) z Dh100 to issue the site map + Dh10 (special fee)

Inheritance The Dubai Land Department issues ownership certificates for the inheritors through registering the immovable capital in their names instead of the deceased, based on the legal announcement issued from the court of justice, where the number of inheritors is decided and land areas are distributed amongst them, either based on the Islamic law or according to the deceased’s pre-written will. New ownership certificates are issued for the land/lands in question according to the inheritors share in them, where some might then abdicate their share for a sum of money paid by the rest of the inheritors. This abdication of a share is documented in the legal proclamation and is considered as a part of the inheritance transfer process.


Documents Required z Certificate of the land ownership z Passport and nationality card copies for all concerned z The legal proclamation from the Supreme Court in Dubai or any other city in the country or the GCC countries or any Islamic country, of course after it has been translated to the Arabic language and certified from a licensed legal office and accredited by the embassy and foreign ministry in the UAE.

rectly on the site map itself

Documents Required z The deed of title/ titles. z Copy of the passports of those involved z Copy of the nationality card of those involved z Copy of the map issued by the Municipality z Site map signed by those concerned indicating which parts are to be divided z The necessary application forms

Transaction Location

Transaction

z Application counter at the customer relations department

z Application receiving desk at the customer relations department

Transaction Fees

Transaction Fees

z Dh1000 + Dh10 special fee z Dh100 as fees for issuing the map+ Dh10 special fee

z 1% of the amount subject of division

Division Among Partners

A specialized committee in the Dubai Land Department takes on the responsibility of looking into applications for land appraisal either by the owner’s request or from other departments such as the Department of Justice, banks or as a supplementary part in finishing other services the department might be working on. The appraisal division, which includes a group of land experts, both local and foreign, inspects the indicated location, studies the building, its age and its rental value and then an estimate is made for the property in accordance with the current market price. Any owner has the right to apply for this service by paying the specified fees.

The Dubai Land Department offers the service of dividing the lands which are owned by several people. This division is done as a request from the partners by filling in the necessary application forms after making sure that the following conditions have been met: z Lands that are specified as a grant and have restrictions on them can’t be divided until the land survey section of the department has been notified alongside Dubai Municipality, which usually follows the implemented mapping system in the city to go through with the process z The concerned land should meet the necessary condition of the area limit allowed to be divided, which is done by notifying the land survey section in the department z The partners should sign the contract and the areas meant for division should be indicated di-

Location

Appraisal

Documents Required z Copy of the ownership certificate z Copy of the land map z Copy of the rental contracts if the property was rented

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DUBAI FREEHOLD PROPERTY GUIDE

Transaction Location z Application receiving desk at the customer relations department

Transaction Fees   z Dh2000 + Dh10 special fee

Amalgamation The Dubai Land Department provides the service of land amalgamation when the owners request so by filling out a specific application form and after making sure the flowing conditions are met: Grant lands are not allowed to be joined with freehold lands while the opposite is permitted if the already existing conditions for restricted ownership are applicable on the land intended to be amalgamated. The complete land area, including the amalgamated part, should be specified via the survey section prior to the registration of the transaction Documents

Required

z Certificate of the land deed / deeds z Copy of the site map from the Municipality z Copy of the passport and nationality card of those concerned z Application form requesting land amalgamation.

z Dh100 to issue site map+ Dh10 (special fee)

z The addition process is subject to the following conditions: z The donated lands shall not be added to the free holds. The vice versa is permissible. The conditions of the restricted hold shall apply to the land added. z The total area of the land after addition should be determined by the Survey Section before the registration of the transaction.

Addition and Separation

Documents Required

The Land Department renders services of Addition and Separation. The separation takes place when

z Deed(s) of title and passports of the parties concerned.

Transaction Location z Application desk at the customer relations department.

Transaction Fees

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more than one owner participates on one hand, or when the landlord desires to subdivide his land into smaller pieces. Addition takes place when the landlord wishes to combine small pieces of land into one land, or when more than a person decide to combine their plots into one (see the Partial Sale). This takes place by the agreement of the parties, or by direct request from the owner. The lands are divided or joined whenever they satisfy the conditions which specify the separation and addition. The separation division process is subject to the following conditions: z The land division agreement is to be signed. It should indicate the parts agreed to be divided, or the area subject to the division. z The restricted hold lands (donations) are not divisible unless the approval of the joint committee formed by the Land Department and the Dubai Municipality is obtained. An application in this regard has to be submitted to the Municipality. z The partners’ separation shall be subject to the conditions of the minimum area to be separated. The Survey Section is to be contacted in this regard, before completion of the separation process.


o781 corporate ad for offical property catalogue of the land department. Actual Size 20.5 x 27.5 cms


DUBAI FREEHOLD PROPERTY GUIDE

z Khulasat Qaid of the parties concerned.

z Dh1000

z Municipality Map Separation/ Addition Agreement duly signed.

Real Estate Offices Section

Leasing to Own (Ijarah)

This section is responsible for real estate brokers and it contributes to the process of developing brokers work through direct supervision, including training, protection and coaching. The goals of the section include organizing and developing the real estate brokers’ activity so as to protect all parties (investors and brokers) from illegal practices; keeping track of all real estate brokers; resolvingreal estate brokerage problems; organizing workshops; issuing real estate contracts and receiving requests and complaints.

z Map + passport copy z (Ijarh) letter

Documents for download

Transaction Location: Application desk at the customer relations department.

Lease Registration Documents Required Registering leaseholds z Letter from leasing body z Original title deed + site map

Extending a lease to own contract (Ijarh) z Map + passport copy z (Ijarh) letter Transferring a lease to own contract (Ijarh) z Map + passport copy z (Ijarh) letter Terminating a lease to own contract (Ijarh) z Map + passport copy z (Ijarh) letter

Transaction Location z Application counter at the customer relations department

Transaction Duration z 20 minutes

Transaction Fees Registering Leasehold z 1% from the contract value. z Dh350 for title deed & site map Leasing to own (Ijarh) z 1.75% from the value of the lease + Dh250 for title deed z Dh100 for map + 1% the value of the property Extending a lease to own contract (Ijarh) z Dh1000 Transferring a lease to own contract (Ijarh) z 0.25% Terminating a lease to own contract (Ijarh)

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z Undertaking Sole Proprietorship z Undertaking Company z Real Estate Brokers Office Registration z Rules & Regulations of Real Estate Brokers’ Register in the Emirate of Dubai z Registered Brokers

Transaction Location z Application counter at the Real Estate Studies Department.

Transaction Fees z Dh5000


Property Laws

DUBAI FREEHOLD PROPERTY GUIDE


Law No.7/2006

Land Registration in the Emirate of Dubai We, Mohammed bin Rashid Al Maktoum, Ruler of Dubai Having considered the Federal Law No. 5/1985 promulgating the Civil Transactions Law and its amendments; the Federal Law No 11/1992 promulgating the Civil Procedure Law and its amendments; the Local Law No 7/1997 concerning Land Registration Fees; and the Local Decree concerning the Formation of Land Affairs Committee of the year 1960; do hereby promulgate the following Law:

Chapter One

Title and Definitions Article (1)

Article (2)

The UAE: The Emirate: The Government:

The Ruler:

This Law shall be cited as “The Land Registration Law of the Emirate of Dubai (No 7/2006)�. In this Law, the following words and terms shall have the respective meanings assigned to each of them, unless the context requires otherwise: The United Arab Emirates. The Emirate of Dubai. The Government of Dubai including any of its Departments, Authorities or Public Corporations. His Highness The Ruler of the Emirate of Dubai.

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DUBAI FREEHOLD PROPERTY GUIDE

The Department: The Head: The Director: Land:

Rights over Land: Land Register:

Land Unit:

Area:

Land Area:

Person:

The Department of Lands and Properties. The Head of the Department. The Director General of the Department. Anything of a permanently fixed nature which cannot be removed without damaging or altering its form.1 Any principal or accessory rights over Land. A collection of records kept by the Department in written or electronic form in an electronic register, detailing the description of the registered Land, its ocation and the rights over it. Any plot of Land and all that is located thereon such as buildings, plants or otherwise, situated in one Land Without being separated from its other parts by any public or private property and without any part of it having a right or an encum brance which its other parts do not have. A group of land units demarcated by principal roads or fixed and clear signs with an accredited name and a distinctive number in accordance with the practice of the Department. A natural or a legal person.

1 The original Arabic word is “aqar” which literally means immovable, the equivalent of French immeuble. The underlying concept of “landed property” may also be expressed by the term “real estate”.

Chapter Two

Scope of Application and Right of Ownership Article (3)

This Law shall apply to Land situated in the Emirate.

Article (4) The right to own Land in the Emirate shall be restricted to citizens of the United Arab Emirates, citizens of the Cooperation Council for the Arab States of the Gulf, the companies totally owned by any of the foregoing, and public joint stock companies. Foreign Persons may, subject to the approval of the Ruler, be granted in certain areas the following rights:

46

(a)

The right to acquire absolute ownership of Land without restrictions as to time.

(b)

The right to acquire usufruct or leasehold of Land for a period not exceeding 99 years.

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Chapter Three

General Provisions Article (5)

The originals of documents and judicial decisions in pursuance of which registration is made shall be kept in the Department, and shall not be moved outside its premises. Interested parties, judicial authorities or experts appointed by them, as well as competent committees may have access to such originals and obtain a certified copy thereof in accordance with the provisions of this Law.

Chapter Four

Jurisdiction of the Department Article (6)

The Department shall have exclusive jurisdiction to register the rights over Land and the leaseholds mentioned in Article 4 of this Law. For this purpose, the Department may do any of the following: (1) determine the areas to be surveyed or re-surveyed and certify the maps drawn therefor (2) prescribe rules in relation to surveying and inspection, as well as in relation to issuance of maps relating to Land Units; (3) prepare model forms of contract relating to real estate transactions; (4) prescribe rules concerning organizing, archiving and destruction of documents; (5) prescribe rules in relation to using computers in storing and recordin data; (6) lay down rules in relation to regulating and keeping a register of real estate brokers; (7) prescribe rules in relation to evaluating Land; (8) lay down rules in relation to voluntary sales of Land by public auction and supervision of such sales; (9) determine the fees payable for services rendered by the Department; And (10) establish branches of the Department as the Director may deem appropriate.

Chapter Five

The Land Register Article (7)

A Land Register shall be maintained in the Department to record all rights over Land and any changes that might take place in respect of them. This Register shall be conclusive evidence against all and everyone

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DUBAI FREEHOLD PROPERTY GUIDE

unless it is proved to be the result of fraud or forgery.

Article (8) Subject to the provisions of Article (7) of this Law, all electronic records shall have the same weight of evidence as that of their hard copy written originals.

Chapter Six

Registration Article (9)

All transactions that create, transfer, change or cancel rights over Land shall be recorded in the Land Register and final judgments confirming those transactions shall also be likewise registered. No transaction shall have any effect unless registered in the Land Register.

Article (10) Any undertaking to transfer a Right over Land shall be limited to an obligation to pay compensation if the obligor is in breach of his undertaking, whether the undertaking contains a provision to pay compensation or not.

Article (11) If the estate of a deceased contains Rights over Land then the certificate of inheritance shall be registered in the Land Register and disposals by any heir of any of these Rights shall not be effective or recognized against third parties unless registered in the Land Register.

Article (12) The Department may for the purpose of settlement entertain applications for registration submitted by persons in possession of Land that is not registered in their names.

Chapter Seven

Alterations or Corrections of Records in the Register of Land Article (13)

The Department may, on the application of an interested party or on its own initiative with notification to those concerned, correct clerical errors in the records of the Land Register.

Article (14) In co ordination with the relevant authorities, the Department shall update its records of Land Units and of what is located thereon such as buildings, plants or otherwise.

Chapter Eight

The Maps Article (15)

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DUBAI FREEHOLD PROPERTY GUIDE

(1) (a) (b) (c) (2) (3)

For the purpose of the registration of Land Units and Land Areas, the following maps shall be relied upon: typographic master map; map of Land Unit; and map of Land Area. Each Land Area shall have its own separate map indicating the Land Units located on it and the numbers thereof. Each Land Unit shall have its own separate map indicating its site, boundaries, width and length, area, its features, constructions located on it and the numbers given for its neigh buring units.

Chapter Nine

Dividing and Merging Article (16)

If the dominant Land Unit is divided up, the right of easement shall remain in existence in favour of each part of it, provided that that does not increase the burden to the servient Land Unit. However, if the right benefits only some of such parts, the owner of the servient Land Unit may apply to the Department for the termination of the right in respect of the other parts.

Article (17) If the servient Land Unit is divided up, the right of easement shall remain in existence over each part of it. However, if the right is not in fact used over some of such parts, and it is not possible to use it over those parts, the owner of each part thereof may apply to the Department, in accordance with the provisions of this Law, for the termination of the right in respect of his part.

Article (18) Easement rights cease to exist by the acquisition of the dominant and servient Land Units by the same owner.

Article (19) If a Land Unit which is encumbered by an accessory Right over Land is divided into two or more Land Units, then each such new Land Unit will be encumbered by the whole accessory Right over Land. The new owners may agree with the beneficiary of the accessory Right over Land for the division of it in such way so that each new Land Unit will be encumbered by only part of it, to be determined by mutual consent.

Article (20) If two Land Units merge and one of them is encumbered by an accessory Right over Land while the other is not, then the accessory Right over Land shall extend on the whole of the new Land Unit without the approval of the merger by the beneficiary of the accessory Right over Land. However, if each of the two Land Units is encumbered by an independent accessory Right over Land, then the beneficiary of each such accessory Right over Land must approve the merger.

Article (21) Any alteration in the Land Unit by dividing or merging shall be registered in the Land Register.

Chapter Ten

Ownership Documents Article (22) The Department shall issue documents relating to Rights over Land on the basis of the actual records of the Land Register.

Article (23) Without prejudice to the provisions of any other law, apartment buildings and multi-storey buildings shall be treated as a single Land Unit and shall have one record in the Land Register to be supplemented by records stating the names of the owners of the apartments, storeys and common parts.

Article (24) (1)

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Ownership documents mentioned in Article (22) of this Law are conclusive evidence of the Rights


over Land contained therein. (2)

In the Land Unit record shall be set out any conditions, promises or restrictions concerning Rights over Land and other obligations.

Chapter Eleven

Final Provisions Article (25) Provisions of the Federal Civil Transactions Law No. 5/1985 and its amendments shall apply to all matters not provided for by this Law.

Article (26) (1) (2)

Any agreement or transaction made contrary to the provisions of this Law shall be null and void, as shall also be null and void any agreement or disposal made with the intention to contravene the provisions of this Law. The nullity of such agreement or disposal may be invoked before the Court by every Person having an interest, as well as by the Department, or the Public Prosecution, and such nullity may also be ordered by the Court on its own initiative.

Article (27) The Decree dated 6 November 1977 concerning Civil and Criminal Cases in Respect of Transactions Relating to Disposals of Lands in the Emirate of Dubai shall be repealed.

Article (28) The Head of the Department shall issue all the necessary regulations, decisions, orders and instructions for the implementation of the provisions of this Law.

Article (29) This Law shall be published in the Official Gazette and come into force as of the date of its publicatio

(Signed)

Mohammed bin Rashid Al Maktoum

Ruler of Dubai

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Law No. (3) of 2006

Areas of properties that can be owned by Non-UAE Nationals We, Mohammed Bin Rashid Al-Maktoum, Ruler of Dubai, Upon reviewing of Law No. (7) of 2006 concerning real property Have issued the following regulation:

registration in the Emirate of Dubai

Article (1) This regulation shall be called the “regulation no. (3) of 2006 concerning identifying areas of properties that can be owned by Non-UAE Nationals in the Emirate of Dubai”

Article (2) Unless the context requires otherwise, the following terms and expressions in this regulation shall have the meanings as shown against them respectively:

“The Ruler” means H.H. The Ruler of the Emirate of Dubai “The Department” means The Land Department “The Real Property” means anything immovable fixed within its boundaries which cannot be moved without damaging or changing its features.

Article (3) The Non-UAE Nationals may be granted a freehold property, or usufruct right, or leasehold right over a real property for a period not exceeding 99 years, in plot/s which mentioned below, pursuant to site plans issued by the Department and enclosed with this regulation: Umm Hurair Second Plot No. (013) Al Barsha West Second, Plot No. (002) Al Barsha West Third, Plot No. (002) Emirates Hills First, Plots No. (004) & (814) Emirates Hills Second, Plots No. (001) & (049) Emirates Hills Third, Plot No. (001) Jebel Ali Plots No. (051), (074), (081), (082), (083), (084), (142), (143) & (391) Al Jadaf Plots No. (003), (007) & (008) World Islands Plot No. (001) Ras Al Khor Plot No. (165) Al Rawiya Plots No. (063) & (065) Sheikh Zayed Road Plots No. (118) & (147) Al Sufouh First Plot No. (069) Al Sufouh Second Plot No. (005) Al Quoz Third Plots No. (005) & (006) Al Quoz Industrial Second Plots No. (010) & (030) Al Quoz Industrial Third Plot No. (028) Mirdif Plots No. (143) & (144) Dubai Marina Plots No. (007), (014), (015) & (033)

Article (4) The Non-UAE Nationals may be granted usufruct right or leasehold right over a real property for a period not exceeding 99 years in Nad Al Shiba plot no. (224) pursuant to site plan enclosed with this regulation signed by the Department

Article (5) This regulation shall be published in the Official Gazette and shall come in force as of the date of its publication

(Signed)

Mohammed bin Rashid Al Maktoum

Ruler of Dubai

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DUBAI FREEHOLD PROPERTY GUIDE

Law No. 8 of 2007

Concerning Real Estate Development Trust Accounts

W

e, Mohammed bin Rashid Al Maktoum, the Ruler of Dubai, After perusal of Federal Law No. 5 of 1985 in respect of Civil Transactions, as amended; Law No. 7 of 2006 in respect of real property registration in the Emirate of Dubai; and Law No. 3 of 2006 specifying the areas where non-UAE nationals may own real properties in Dubai, Do hereby issue the following Law:

Chapter One

Definitions and General Provisions Article (1) This Law shall be named “Law No. 8 of 2007 concerning Real Estate Development Trust Accounts in the Emirate of Dubai

Definitions Article (2) In the application of this Law, unless the context requires otherwise, the following terms and expressions shall have the meanings as set out opposite each of them: The Emirate: The Emirate of Dubai Department: The Land Department President: The President of the Department Director: The General Director of the Department Register: The Register prepared at the Department to register developers Trust Account: The bank account of the real estate project in which the amounts received from off-plan units buyers or the project financiers will be deposited. Trustee: The financial institution or bank approved by the Department to manage a trust account. Competent Authorities: The government authorities which grant licenses to developers. Developer: A natural or corporate person licensed

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to buy and sell real properties for development pur poses. The term shall include the master developer and sub-developer. Real Estate Development: The construction of multi-storey buildings or complexes for residential or commercial purposes. Unit: An allocated part of the property sold by the developer to third parties.

Article (3) The provisions of this Law shall apply to developers who sell off-plan units in real estate development projects in the Emirate and, in consideration, receive payments from buyers or financiers.

Article (4) A special register to be named “The Developers Register” shall be prepared at the Department. The names and particulars of developers licensed to carry out real estate development activities in the Emirate shall be recorded in the said register. No developer may carry out the said activities unless it is registered in the said register and licensed by the competent authorities pursuant to regulations issued in this regard.

Article (5) After obtaining a written permit from the Department, a developer may advertise in local or foreign media or participate in local or foreign exhibitions to promote selling off-plan units in the Emirate. The Director shall issue the resolutions as required to regulate the requirements for advertising in the media or participating in exhibitions.

Chapter Two

Creating a Trust Account Article (6) A developer wishing to sell off-plan units must apply to the Department to open a trust account. The application should be accompanied with the following: 1 Trade license and Dubai Chamber of Commerce


and Industry membership certificate; 2 Title deed of the plot to be developed, if any;

ance with the requirements and regulations in this regard.

3 A copy of the contract between the master developer and the sub-developer;

Chapter Three

4 Architectural designs and preliminary engineering plans approved by the competent authorities and the master developer;

Management of the Trust Account

5 A financial statement of the costs, revenues and expenditure of the project certified by a chartered auditor;

Article (10)

6 An undertaking by the developer to commence the project construction works after obtaining the master developer’s approval to sell off-plan units; 7 The sale contract form between the developer and the buyer. The Department shall issue its approval to the developer to open a trust account if the above documents are provided, otherwise the Department shall require the developer in writing to complete the documents or provide the required information.

Article (7) The trust account shall be created under a written agreement between the developer and the trustee. Under the said agreement, the amounts paid by buyers of off-plan units or received from the financiers shall be deposited in a special account to be opened in the name of the real estate project. The said agreement shall set out the terms for managing the account, the rights and obligations of the contracting parties and other terms and conditions. A copy of the contract shall be lodged with the Department.

Article (8) The Department may add a note regarding the purchase agreement between the master developer and the sub-developer in the record of the plot owned by the master developer. Further, the buyer of an off-plan unit may apply to the Department to add a note regarding the purchase agreement entered into with the sub-developer in the record of the plot on which the project is to be constructed.

Article (9) Subject to Article 4 of Law No. 7 of 2006 concerning real property registration in the Emirate of Dubai, sole proprietorships or companies may obtain a license from the competent authorities to carry out real estate development in the Emirate in accord-

A trust account shall be opened in the name of the project and shall be used only for the purposes of developing the real estate project. The amounts deposited in the said account may not be attached in favor of creditors of the developer. A developer carrying out several projects should open an independent trust account for each such project.

Article (11) The Department shall prepare a register that includes names of financial institutions and banks who act as trustees. A trustee should be proficient in managing trust accounts. The agreement between the Department and the trustee shall set out the duties of the trustee and the terms under which the trust account is managed.

Article (12) The trustee should provide the Department with periodical statements of the revenues and expenditure of the trust account. The Department may assign an auditor to audit the statement and data. Further, the Department may at any time require the trustee to provide it with such information or data as it may deem necessary. If the Department finds any violation of the provisions hereof or the executive regulations issued hereunder, it shall advise the trustee of such violation in writing and request it to rectify the same within a specific period of time and advise the Department in writing of such rectification.

Article (13) The depositors or their representatives may inspect the accounting records related to them and request copies thereof. Representatives of the official authorities may also inspect the records and obtain copies thereof.

Article (14) If the developer mortgages the project in order to obtain a loan from financing institutions or companies, the developer should deposit the mortgage amount in the trust account, and such amount shall be disposed of in accordance with the provisions

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DUBAI FREEHOLD PROPERTY GUIDE

of this law.

Article (15) 1 A trustee should withhold at least 5% of the trust account deposits after the developer obtains the completion certificate. Such withheld amounts shall be paid to the developer only one year after the units are registered in the names of the buyers and title deeds are issued in their names. 2 In the events of unforeseen circumstances resulting in the non-completion of the project, the trustee should, after consultations with the Department, take measures as required to maintain the interests of depositors.

Chapter Four

Penalties Article (16) Any person who: 1 deliberately provides the competent authorities with inaccurate documents or data in order to obtain a license to carry out real estate development activities; 2 knowingly offers for sale units in unreal real estate projects; 3 embezzles, illegitimately uses or spends payments made to him for real estate development purposes; 4 an auditor who deliberately prepares false report regarding the result of auditing the financial position of the developer, or deliberately hides material information in such report; 5 a consultant who knowingly certifies false documents in relation to the real estate project; or 6 a developer who deals with a broker who is not registered in the real estate developers register in accordance with the provision of regulation 85/2006 concerning real estate brokers in the Emirate of Dubai shall be punished by imprisonment for no less than one month and a fine, or either punishment.

Article (17) A developer shall be de-registered in the following events: 1 if it is declared bankrupt; 2 if it fails to commence the construction works within 6 months from the date of the approval granted to it to sell off-plan units without having an acceptable excuse; 3 if the license granted to it by the competent au-

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thorities is cancelled; 4 if it commits a violation under Article 16.2, 3 or 4 hereof; or 5 if it commits a violation of the laws and regulations regulating the real estate activity in the Emirate.

Chapter Five

Final Provisions Article (18) Existing developers at the time the provisions of this Law become effective should adjust their positions to comply with the provisions hereof within 6 months from the date this Law is published in the Official Gazette. The Department may extend the said period as it may deem fit.

Article (19) The Department may charge administrative fees against the services provided under this Law.

Article (20) Any provision or procedure in any law or regulation shall be cancelled to the extent the same is in conflict with the provisions hereof.

Article (21) The President shall issue the resolutions required to implement the provisions hereof.

Article (22) This Law shall be published in the Official Gazette and come into force from the date of its publications.

(Signed)

Mohammed bin Rashid Al Maktoum Ruler of the Emirate of Dubai Issued in Dubai on 6 May 2007 19 Rabi’ll 1428 H


DUBAI FREEHOLD PROPERTY GUIDE

Law No. (85 )/of 2006

Regulation of Real Estate Brokers’ Register

A

fter perusal of Law No. (7)/ of 2006 Regarding Real Estate Register in the Emirate of Dubai, pursuant to Articles (6) paragraph (6), and (28) of the said law and according to the proposal by the Department’s General Director, We issued the following by- law:

Chapter 1

Definitions & General Provisions First: Definitions Article (1)

This by- law is called (by- Law No. (85) of 2006 Regarding the Regulation of Real Estate Brokers’ Register in the Emirate of Dubai)

Article (2)

The words and phrases contained in this By- Law shall have the meanings shown against each of them unless the context requires otherwise: Country: United Arab Emirates Emirate: Emirate of Dubai Department: Lands & Property Department Chairman: Chairman of the Department Director: Department’s General Director Committee: Permanent Committee of the Real Estate Brokerage

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Council: The Competent Arbitration Council to consider Brokers’ disputes. Division: Division of the Real Estate Brokerage in the Department Competent Authorities: The Competent Licensing Governmental and Semi Governmental Authorities Real Property: Anything immovable fixed within its boundaries which cannot be moved without damaging or chang ing its features. Register: The Electronic or Documentary Register of the Real Estate Brokers List: The list of the certified Brokers from Class (A) prepared by the Committee Broker: It also means (bidder), the person who carrieson the Brokerage activities as per the provisions of this by- law. Brokerage: A contract by which the Broker un dertakes to another person to look for a second party to enter into a certain contract through mediation in the contracting negotiations in consideration of a fee. Person: The natural or legal person.


Second: General Provisions Article (3)

A person may not carry on the Brokerage activity in the Emirate unless he is licensed by the competent authorities and registered in the Registry.

Article (4)

A record to register the Brokers, who are licensed to carry on the Brokerage activity in the Emirate, shall be established and every change or amendment made on this information shall be recorded therein.

Article (5)

The Brokers shall be from two classes: Class (A): The people of expertise who are registered in the list, unlicensed by the competent authorities and are exempted from the registration conditions. Class (B): The people who carry on the Brokerage activity under a license issued by the competent authorities.

Chapter 2

Conditions of Registration in the Brokers’ Register Article (6)

Subject to what was stated in Article (5-A) the people from Class (B) who wish to carry on the Brokerage activity in the Emirate shall submit an application on the form to be registered in the Registry. The application shall include the following documents: z A valid trade license issued by the competent authorities z A membership certificate in Dubai Chamber of Commerce & Industry z A copy of the license applicant’s/applicants’ passport with regard to the sole proprietorships or companies z An identical copy of the ownership certificate of the Brokerage shop or its lease contract z A Certificate of Good Conduct for the establishment’s owner and the senior manager or senior managers of the company None of the company’s Directors or the partners authorized to run the company shall be from those who have previously declared bankruptcy or were convicted with a crime violating honor or trust Obtaining certificates in courses specialized in the real estate field from educational institutions

accredited by the Department Passing the Brokerage profession test prepared by the Department

Article (7)

The Department shall examine the application. Within seven days from submitting the application, the Department shall request the applicant in writing to complete the documents or information it deems necessary.

Article (8)

The Department shall take all the procedures to verify that the registration application, updating or cancelling the requirements of the by- law provisions and decisions issued in accordance therewith, are fulfilled.

Article (9)

The Department shall present the registration application to the Committee within 7 business days from the date of submitting the application or completing the documents and information required by the Department, as the case may be.

Article (10)

The Committee shall have the right to approve the registration or reject the same. The issued decision in this regard shall be informed to the applicant. The decision to reject the registration shall be justified.

Article (11)

If the Committee rejects an application of registration, updating or cancellation, the concerned party shall file a grievance against the decision of rejection with the Director, within 7 days of being informed of the decision. The Director’s decision in this regard shall be final.

Article (12)

The Department shall issue a Broker card bearing his name and address, in addition to his registration No.. The Broker shall enclose his name with his registration No. in the Registry in all the correspondence and reports issued by him.

Article (13)

Every Broker registered in the Registry shall come to the Department for annual renewal of his registration in the Registry. The renewal application shall be submitted to the Department on the form assigned for this, at least (30) days prior to the expiry date of the registration certificate. The Department shall renew the Broker’s registration in the Registry after verifying the availability of the renewal conditions.

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DUBAI FREEHOLD PROPERTY GUIDE

Chapter 3

Broker’s Obligations Article (14)

All registered Brokers must comply with the profession ethics according to the Code of Ethical Conduct prepared by the Committee in consultation with Brokers with expertise and opinion.

Article (15)

The Broker must prove in his special register all the transactions made by him and keep the relevant documents and papers. He shall also submit an identical copy of the same to any of the contracting parties who asks for it. In case of selling by map or form, he must keep the map or form until the transaction is completed.

Article (16)

The Broker shall submit all the information, data and statistics related to the Brokerage activity which are required by the Department.

Article (17)

The Broker must inform his client with all the details of negotiations, stages of mediation he is conducting and any information that is considered necessary to enable him to take the decision to enter into an agreement with the other contracting party. The Broker must also inform the other contracting party with all the substantial issues that are related to the subject of agreement and which are necessary in order be fully aware of it.

Article (18)

The Broker shall not mediate to enter a transaction in violation of the laws and regulations applicable in the Emirate.

Article (19)

The Broker shall, even if he is only authorized by

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one party of the transaction, give them a faithful offer and inform them with all the circumstances he knows. He shall be responsible before them for any deception or mistake he makes.

Article (20)

The Broker may not establish himself as a second party in the contract in which he mediates to sign unless the contracting party allows him to do so and in this case the Broker shall not be entitled to a fee.

Article (21)

The Broker shall be a guardian on any amounts, securities, debentures or things given to him by any of the parties to keep or to deliver to one of the parties. He must give or deliver the same according to what is agreed upon. Trust Rules shall apply to the Broker with regard to these matters.

Article (22)

The Broker shall be responsible for any losses or damages inflicted on any of the contracting parties as a result of his acts through deception, fraud or non-observance of the principles to be followed as per the provisions of this statement or in accordance with the requirements of the Code of Ethical Conduct.

Article (23)

The Broker’s right in remuneration or claim to be reimbursed for the expenses he spent, shall drop if he works in favour of the other contracting party violating by this his obligations towards the party he is representing, or if he accepts from the other party a promise to obtain a benefit when such promise is prohibited by the rules of good faith and Code of Ethical Conduct.

Article (24)

If many Brokers were authorized to work on one contract, they shall be jointly responsible for the


work delegated to them, unless they were licensed to work severally.

shall be entitled to a compensation for the effort he spent.

Article (25)

Article (29)

If many persons authorize one Broker in a joint act, they shall be jointly responsible before him for carrying out this authorization, unless they agree on otherwise.

Chapter 4

Broker’s remuneration Article (26)

The Brokerage contract shall be in writing and stating the names of the contracting parties, specifications of the Real Property and the Brokerage conditions. The contract shall be registered in the real estate Registry.

Article (27)

The Broker’s fee shall be determined by agreement. If there is no agreement the remuneration shall be determined according to the prevailing practice.

Article (28)

The broker shall not be entitled to a fee for his Brokerage unless this Brokerage caused a contract to be signed between the two parties. This contract shall be considered as entered when the parties agree on all the substantial issues therein. What is important is the Broker’s entitlement to his fee in signing the contract even if it was not executed unless the agreement or the practice stipulates otherwise. If the contract was dependent on a pending condition, the Broker shall not be entitled to the fee unless this condition is met. If signing the contract is impracticable for a reason related to the customer, then the Broker

If the Brokerage contract is revoked, the Broker may claim his fees or keep the same if he received it, unless deception or grave mistake was proved on his part.

Article (30)

If the Broker’s instructions or negotiations did not lead to signing a contract between the two parties, the Broker shall not be entitled, in consideration of his endeavor, to claim any compensations, expenses or costs he incurred unless there was a prior condition or this was done in the special practice.

Article (31)

If more than one Broker participated in the mediation or negotiation for one party in order to reach an agreement and this led to the completion of the agreement, all of them will be entitled to the remuneration as if they were one Broker and the remuneration shall be divided between them as per the conditions of the contract entered between them.

Article (32)

Subject to Article (30), if a party contracted with many Brokers independently and with regard to one subject in order to mediate for him and negotiate on his behalf in an agreement and one of them succeeded in completing the transaction, he alone shall be entitled to the full compensation.

Article (33)

The Broker shall be entitled to compensation only from the party of transaction who authorizes him to mediate to sign the transaction. If the authorization was issued by both parties, each one shall be severally responsible before the Broker for paying

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DUBAI FREEHOLD PROPERTY GUIDE

the fee due from him, even if they agreed that one of them shall pay the full fee to the Broker.

Chapter (5)

Settlement of Disputes (Article 34)

The Department shall have a Council composed of three persons, in addition to the legal consultant of the Department. They shall be appointed by a decision issued by the Director. The Council shall have competency to settle disputes related to mediation through arbitration.

Article (35)

The Council shall not consider disputes of real estate Brokerage, unless the Brokerage contract contains the arbitration condition, or the adversaries agree subsequently to refer their disputes to the Council for arbitration. The agreement on arbitration shall only be established in writing and it shall specify the subject of the dispute in the arbitration document.

do all the administrative tasks assisting the Council. The secretariat shall be appointed by a decision from the Director.

Article (38)

The arbitration application shall be submitted to the Committee by the party requesting arbitration according to the form prepared for this purpose. Supporting documents and sufficient copies according to the number of the disputing parties shall be enclosed with the application. The Chairman shall order that the application is registered after the determined fee is paid. The secretariat shall announce the adversary (the respondent) in the application. The respondent shall respond in writing to the application statement and the incidents and requests therein. He shall lodge this response and any supporting documents thereof with the secretariat within a week from announcing him. The Council shall decide in the dispute within a maximum period of (30 days) from the date of referring the case. This period may not be extended unless there are reasons justifying this.

Article (36)

The Council shall commence its duties according to simplified procedures that seek to resolve the disputes and establish justice between adversaries, by following the general principles of the law. The Council’s decision shall be in accordance with the rules of the law, unless the Council was authorized to reconcile. In this case the Council shall not comply with these rules except with the rules related to the public order.

Article (37)

The Council shall have a secretariat to be in charge of receiving the applications, opening files, writing proceedings and correspondence, servicing the adversaries, maintaining the files and generally to

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Chapter (6)

Disciplinary Penalties and the Expiration of the Brokerage Capacity Article (39)

Without prejudice to any penalty set by the applicable laws, the Committee shall have the right to impose any of the following measures on the Broker who violates any of the provisions of this statement, the decisions or instruction issued thereunder:


Warning Notice Suspension from work for a period not exceeding 6 months Putting the Broker’s name on the black list

Article (40)

The Broker’s registration shall be cancelled if he breaches the Code of Ethical Conduct or if he commits a substantial violation of the applicable laws, regulations and instructions in the Emirate. The cancellation shall be based on a decision issued by the Director according to a recommendation from the Committee, stating the reasons for cancellation. The Broker may file a grievance against the decision of cancellation with the Chairman within 15 days of being informed with it. The decision of the Chairman shall be final.

Article (41)

The Brokerage capacity shall drop from the Broker and his registration with the Department shall be cancelled in the following cases: The Broker leaves the Brokerage business permanently, and informing the department about that. The Broker leaves the Brokerage business for a period exceeding twelve consecutive months without a legitimate excuse acceptable to the Committee. He loses any of the conditions which should be met as per the provisions of this by- law, any regulations or instructions issued thereunder. If it becomes clear that his registration was based on false information that he submitted to the Department. The Chairman issues a decision cancelling the registration as per the provisions of Article (40) of this statement.

this.

Article (44)

The Committee shall be entitled, through consultation with the competent authorities, to classify the Brokers according to their area of specialization and to determine their number according to the need.

Article (45)

The Department shall receive the arbitration fees which shall be determined by a decision issued by the Chairman.

Article (46)

The Chairman shall issue the orders, decisions and instructions necessary to implement the provisions of this by- law.

Article (47)

The provisions of this by- law shall be valid from the date it is signed. Issued by 30 / 5 /2006

Mohammad Bin Khalifa Al Maktoum Head of the Land Department Dubai 10 13385

22-05-06

Article (42)

The Department shall notify the competent authorities with the decision issued to discontinue the Broker’s activity or cancel his registration.

Chapter (7) Final Provisions Article (43)

The acting Brokers shall, when this statement is issued, accord their status with its provisions within 3 months from the day it was issued. The Chairman may extend this period for a period not exceeding another 3 months, if there were reasons justifying

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Trust Law Q&A

DUBAI FREEHOLD PROPERTY GUIDE


20872 - Dubai Land -door.pdf

9/19/07

9:31:56 AM


Guarantee Accounts of Real Estate Developments A Law to Regulate Developers and to Protect Purchasers’ Payments in Off-Plan Transactions

L

aw No. (8) of 2007 concerning Guarantee Accounts of Real Estate Developments in the Emirate of Dubai was issued by His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Ruler of Dubai, on 6th May 2007. The Law came into effect upon its publication in the Official Gazette on 28th June 2007.

Background to the Law Off-plan transactions, namely the sale of property by a developer to purchasers prior to completion of construction, are commonplace in Dubai. In such transactions, the Property Sale & Purchase Agreement entered into between the developer and a purchaser will provide for a completion date some time in the future, often months or even years away depending upon when the developer anticipates that construction will be completed and the property will be ready for hand-over to the purchaser. In the meantime, the purchaser has an obligation to make installment payments to the developer towards the purchase price, often up to 70 per cent or 80 per cent of the total agreed purchase price. However, the purchaser acquires no interest in the property that he has contracted to purchase until completion and transfer of the property title into his name. If the developer fails to complete the property or fails

to transfer title to the purchaser for any reason, the purchaser will rank as an unsecured creditor of the developer and is at risk of losing the money that he has already paid to the developer pursuant to the Sale & Purchase Agreement. Legislative confirmation of this is to be found in Articles (9) and (10) of Law No (7) of 2006 concerning Real Property Registration in the Emirate of Dubai. This lack of security for purchasers in off-plan transactions has led many master developers in Dubai to contractually impose measures upon subdevelopers with the aim of protecting purchasers’ money during construction and prior to delivery of the property and title to purchasers. Such measures have typically required either that the sub-developer lodges a ‘construction bank guarantee’ with the master developer as a condition of being given consent to commence off-plan sales of units, or that the sub-developer open an escrow account into which the sales proceeds received from purchasers must be paid pending attainment of pre-agreed construction milestones. The main purpose of Law No (8) of 2007 is to provide legislative protection to purchasers in offplan transactions. More generally, the Law seeks to introduce a regime of registration, licensing and regulation for all developers undertaking property development activities in the Emirate of Dubai.

TRUST LAW: Q&A m To whom does the Law apply?

The Law applies to all master developers and sub-developers carrying out the activity of property development in Dubai.

m What basic legal requirements apply to developers?

All developers, without exception, must have a licence. Those developers that do not have a

trade licence issued by the Dubai Department of Economic Development or by one of the Free Zones can apply to the newly established Real Estate Regulatory Agency for a development licence. In addition to the requirement to have a licence, a developer must also obtain registration in the “Register of Developers” maintained by the Dubai Land Department before under-

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DUBAI FREEHOLD PROPERTY GUIDE

a Guarantee Account.

taking property development activities in the Emirate.

m For what purpose can monies be paid m Under what circumstances does a developer need to open a Guarantee Account?

Any developer wishing to offer property for sale off-plan, that is to say before the property has been constructed and is ready to hand over to the purchaser(s), is required to open a Guarantee Account. This requirement for a Guarantee Account applies not only when a developer intends to construct and sell several units in a development to several different purchasers; it applies also in the situation where a developer intends to construct and sell just one unit, or intends to construct and sell multiple units to a single purchaser. In addition, the meaning of ‘sale’ is to be construed widely to include not only freehold sales, but also off-plan lease sales. Thus, whenever a developer is to receive monies from a purchaser of a freehold or lease interest in a property, he must first open a Guarantee Account.

out from the Guarantee Account?

m When can monies be paid out from the Guarantee Account?

m Who may operate the Guarantee Account?

A bank or financial institution licensed by the UAE Central Bank to receive third party deposits and operating in Dubai may act as an ‘Account Trustee’. Such bank or financial institution must be accredited by the Dubai Land Department. As a pre-requisite to accreditation, the proposed Account Trustee must first enter into a written agreement with the Dubai Land Department setting out the terms and conditions pursuant to which the Account Trustee will operate Guarantee Accounts.

m Can an Account Trustee also provide development finance to the developer of a project?

Yes, a bank or financial institution can act as an Account Trustee as well as provide development finance to the developer of a project.

m What monies must be paid into a Guarantee Account?

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All monies received from purchasers in off-plan transactions (including monies received from their mortgage companies) as well as the proceeds of property development finance must be paid into a Guarantee Account for the project. The developer’s own capital contribution toward the project does not need to be paid into

As a general rule, monies can only be paid out from the Guarantee Account to settle the invoices of contractors and consultants engaged in the project. Not all the expenses incurred by the developer in connection with the project qualify to be paid from the Guarantee Account. For example, only an amount up to 5 per cent of the Guarantee Account proceeds may be applied towards the costs of marketing the project. The developer’s general business overheads and monies required toward his purchase of the land can be paid from the Guarantee Account.

The written Agreement between a developer and the appointed Account Trustee will contain details of the construction milestones that are required to be achieved on site in order to trigger payments from the Guarantee Account. The developer’s project manager will notify the Account Trustee when a construction milestone has been achieved and he will make a request for payment to contractors and consultants. The Account Trustee’s own engineer will inspect the development and certify whether or not the construction milestone has been achieved. Once satisfied, the Account Trustee will authorise payments to be made from the Guarantee Account to settle contractors’ and consultants’ invoices. These payments will be made by the Account Trustee directly to the relevant contractors and/or consultants against verified invoices and will not be paid to or via the developer.

m What is the purpose of the 5 per cent retention?

Article 14 of the Law requires the Account Trustee to retain 5 per cent of the total amount paid into the Guarantee Account for a period of one year after the developer has transferred titles of the units into the purchasers’ names. The purpose of this 5 per cent retention is to act as a guarantee that the developer will promptly and effectively remedy defects in the property that are apparent on completion or which may become apparent within the first year follow-


ing hand-over.

m The Law came into effect on 28th June 2007 upon its publication in the Official Gazette. To what extent does the Law apply to projects that were launched before 28th June 2007?

Article 18 of the Law requires developers to bring themselves into compliance with the Law within 6 months of its enactment, i.e. by 28th December 2007. The Dubai Land Department is currently undertaking a survey of all real estate developments in Dubai. This process was expected to be completed by the middle of September 2007. As a result of this survey, each current development in respect of which off-plan sales have commenced will be put into one of three categories:

1

for developments that are 70 per cent to 80 per centcompleted, the developer will not be required to open a Guarantee Account;

2

for developments where work has started on site and has reached beyond shoring stage, a Guarantee Account will need to be opened by the developer by 28th December 2007; and

3

for developments that have not reached shoring stage, a Guarantee Account will need to be opened immediately.

For developments in respect of which off-plan sales have not yet commenced, a Guarantee Account will need to be opened prior to the commencement of sales. m If a developer has already commenced off-plan sales and now needs to open a Guarantee Account, will he need to pay into that account the amount of money that he has already received from puchasers?

of payments already collected. But all monies that are received from those purchasers in the future must be paid into the Guarantee Account.

m What if a sub-developer has already put arrangements in place with the master developer to protect purchasers’ money? In those cases where a sub-developer has already lodged a construction bank guarantee with the master developer or has opened an escrow account at the behest of the master developer, the Dubai Land Department will review the arrangements in place and may provide an exemption to the requirement to open a Guarantee Account pursuant to the Law if it considers it appropriate to do so. m Will purchasers be able to register their interest in purchase contracts with the Dubai Land Department? Yes, the Dubai Land Department is establishing a system of pre-registration whereby any purchaser who has contracted to purchase a unit off-plan from a developer may record his purchase contract as an interest on the title of the property. This will help to prevent the developer from double-selling the unit in question. In addition, since the system will enable the purchaser to record the percentage of purchase price that he has paid from time to time, in the event of a difficulty with the developer, the registration of the purchaser’s contract will serve as prima facie evidence both of the fact that he is purchasing the unit and of the percentage purchase price that he has paid.

He has to submit a statement giving full details

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Registration Procedures

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Registration of properties purchased from developers Individuals: z Original ownership OR THE CONTRACT certificate issued for the developer z A copy of attested contract between the developer and purchaser, to be attached with a copy of master community declaration, and articles of association of landlords’ societies (if any). z A letter issued from the developer, to register the property in the name of purchaser stating his full name as in identifications. z A copy of valid passport and a copy of national id card for local nationals. z In case of submitting the application through agent, a copy of a duly attested power of attorney stating clearly the powers conferred on the attorney to purchase/sell the property and register the same at the department in the name of the purchaser, should be attached to the said application.

z Duly attested copies of the memorandum of association and articles of association of the company. z A copy of decision issued form the competent administrative authority in the company concerning purchase sale of the property. z A duly attested power of attorney performed by company granting clearly the attorney full powers to purchase/sell the property and register the same at department of lands and properties in the name of the company. z A certificate including names of partners, their nationalities and their shares in the company’s capital. z Copies of partners’ passports along with the copies of national ID card for local nationals. z Documents required for registering properties in the name of individual establishments and local companies

Local companies:

Individual establishments:

z Original ownership certificate issued for the developer. z An attested copy of contract performed between the developer and the purchaser to be attached with a copy of master community declaration and articles of association of landlords’ societies (if any). z A letter issued from the developer, to register the property in the name of the company. z A copy of the trade license.

z Original ownership certificate of the property z A copy of the trade license z A copy of passport and national id card of the owner z In case of submitting the application through an agent, a copy of a duly notarized power of attorney should attached with the same, and should state clearly powers granted to the attorney to purchase/sell the property and register the same at the department.

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DUBAI FREEHOLD PROPERTY GUIDE

Free zone companies z Original certificate of property ownership or contract. z A certificate of trade license issued from the free zone competent authority z An incorporation certificate issued from the free zone authority z Certificate of stocks stating shares owned by each partner z Copies of the company’s memorandum of association and its articles of association z A copy of the decision issued from the competent administrative authority in the company concerning purchase/ sale of the property and registering the same in the name of the company z A power of attorney duly authenticated by the companies’ registrar authorizing the company’s representative (agent or nominee) to purchase/ or sell the property and register the same at the department in the name of the company

z A copy of the agent’s passport

Offshore companies z An official certificate issued from competent authority in country in which the said company is registered, stating that the company is incorporated and registered in the same country along with stating its legal status and capital amount z Original certificate of property ownership or contract z A copy of the decision issued from the competent administrative authority in the company concerning purchase/sale of the property, along with the authorization issued to the representative (agent/nominee) in this regard z A power of attorney duly authenticated authorizing the company’s representative to purchase/ or sell the property and register the same at the department in the name of the company z A list of the names incorporators/ partners, names of managers and their addresses z A certification of name and address of the approved agent in the country.

Registration of Mortgages z Original Certificate of mortgaged Property Ownership z A letter to the Department of Lands and Properties ownership issued from an approved bank, financial company or institution to register the mortgaged property, along with stating name and signature of the bank’s authorized signatory agent z An authenticated copy of the mortgage contract

z If the mortgaged property was (Gift), a copy of building permission should be attached with the

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same z If the mortgaged property is owned by a company, a copy of the decision issued from the competent administrative authority in the company concerning the mortgage of the property should be attached with the authorization of the representative (agent/ nominee) to perform the mortgage z A duly attested power of attorney from the company stating expressively powers conferred on the Attorney to perform the mortgage


Original Owner

XX

Construction Cost 10% Contingencies

XX X

Total Direct cost

XXX

Marketing Exp ( 5%)

X

Total Cost

XXXX

XXXX

Note No. 1 Sales statement Sr. Apartment / Villa # 1 Flat No. 1 2 Villa No. 1 3 4

Total

Name of Owner

Sales Price XX XX XXX

Apartment Drawing File Name

CAD Design Drawing

Consultant Name

2

No.

Cost of land

XXXX

Parking

1

Avarage Building Actual Gross Area Common Hight Meter sq.f Total Area Sq.f Foot Roof Suite Balcony Areas / Sq.F Print

Total Revenue

Total

Required data for the pre-registration system

Note Sub Total

Apartment No.

Sr Description

Apartment Type

Lands Department Trust Account Division

Apartment No. of Rooms

Project Cost Revenue Project Cost& &Revenue

Parcel No.

Note No. 2

Project Name

Building Name

Cost of land must pay directly to the Master developer

DFPG 2007 No.

Trust Account Division

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DEPARTMENT OF LANDS & PROPERTIES Accredited Accounts Section

Evaluation Form For Account Trustees Bank Name: ............................................................................................. Head Office:............................................................................................. Details

Value/number

Category

OPERATING CAPITAL Last Annual Report

Total revenues Annual development ratio Total properties rights Total general Balance

No. of branches or offices

In Dubai Inside the country Abroad

Engineering Section

No. of engineers No. of operated accounts

Real Estate experience for the accredited account

International Classification Reputation

Inside the country Abroad

Long term credit Financial credit Liquidity Profitability

o Audited financial statements of 2008 o Years 2005-2008 o Statement from one of the international classification authority

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Remarks


Procedure for Registering Trust Account Developer z After the Developer submits the application with all the stipulated documents, the Land Department checks the licence, approvals from the Master Developer, Municipality and other licensing authorities as the case may be. z The Department then reviews the project cost and revenue projection details z After checking with the Master Developer to ensure there are no problems involving the proposed project, the Department issues a No Objection Certificate to the developer to open a Trust Account. z On receipt of Land Department’s clearance, the developer goes to its preferred bank and secures a letter from the bank, with the terms negotiated and in keeping with the provisions of the Trust Account Law.

Banks/Financial Institutions

z The bank desirous of managing a Trust Account has to submit to the Land Department a prescribed Evaluation Form, which provides details of the financial numbers, branch network, real estate experience and other related information that will help ascertain its financial soundness. z

A specialist committee of the Trust Account Section evaluates the information and reviews the performance of the bank/financial institution for the preceding 3 years and checks with rating agencies about the bank’s standing.

z Based on the recommendation of the committee, the Land Department then approves the bank/financial institution as a Trust Account operator and signs the agreement.

z The Land Department then issues a second letter, authorizing the developer to sell the property units to the end user.

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DUBAI FREEHOLD PROPERTY GUIDE

CAD/GIS Interoperability Required Standars Land information system unit Survey section

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1 Introduction The following document describes the Standards required by Dubai Land Department for CAD/GIS Interoperability. All submissions of digital information to the LD should meet these Standards. Any questions on exceptions or variances to these Standards due to special need or project requirements should be referred to the Dubai Land Department / Survey Section for further clarification.

2 General GIS Standards Required Format for Submission of Flats and Villas Site Plan Priorities in Condition to be A3 size 1- Esri ArcGIS 9.0 or Later Map Document (MXD) (Based on the submitted (Mxt) 2- Bentley Microstation (DGN) Version 5.x or Later (Based on the Seed File Submitted and for Arabic use the Microstation Font submitted by Land Department). 3- AutoCAD (DWG) Version 2005 or Later (Based on the Imported Seed File from dgn). Villas and Flats Site Plan Templates have to be submitted as one of the above formats based on the above format priorities, in addition to PDF format with all information for every flat and villa.

2. a Details of Files Required to be Submitted to Land Department LD requires submissions to be as the following: z Flats and Villas Site Plan Template, to be submitted as one of the above formats (Based on the Templates provided from Land Department). (To be delivered as Hard Copy in addition to Soft Copy). All Templates have to be issued in the name of the Current Owner if the Original Owner has the Building and plot registered in his name and Title Deeds of the building Apartments and Plots are already issued to him from the Land Department, then the Land Department will later issue for every customer. z Flats and Villas and Floors Plans, to be submitted independently and for every Flat and Villa, as AutoCAD (2D) DWG Version 2000 until Version 2007. As Soft Copy and without Writing the (Scale OR Floor Plan OR Apartment Details), and it has to be symbolic by Block (White) z Excel Sheet, contining Villas and Apartments description as Microsoft Excel Workbook 2003 or later and based on the template provided in this standard (Villas Template and apartment Template). As Soft Copy Example: Flat Number 1 in Building A, should contain as delivery to Land Department z Apartment site plan based on Land Department template z Apartment plan as (DWG) with Actual External Dimensions as text (to be exploded), measured in Millimeters z Apartment Floor Plan as (DWG) containing the location of the apartment within the floor (hatched and exploded) and text describing flat numbers within the floor z Excel sheet based on Land Department template

2.b Mapping Coordinate System LD currently uses the Dubai Local Transverse Mercator projection (DLTM). At present all digital data and related coordinates must be in the DLTM projection unless explicitly specified otherwise by Dubai Land Department. So Please Follow the Seed File Provided by Land Department.

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CAD/GIS INTEROPERABILITY REQUIRED STANDARS

2.c Microstation Element Types

2.c Microstation Element Types

Microstation supports many types of graphic elements. However, not all elements are supported or desir-

able types in theofDubai Department allows the following types of Microstation supports many graphicLand elements. However,GIS not environment. all elements areLD supported or desirable in the Dubai Microstation Land Department GIS elements, environment. allows the following type of Graphic forLD most applications: Microstation Graphic elements, for most applications : Element Name Lines Complex Shapes Tags

2.d Mapping Orientation

Type 3 14 20

2.d Mapping Orientation

All mapping data is to beAll delivered in adata non-rotated mapping is to beorientation. delivered in a non-rotated orientation

3 -CAD/GIS INTEROPRBILITY Standards for As-Design drawings 3 -CAD/GIS INTEROPRBILITY Standards for As-Design (DWG) (DWG) of Apartments &drawings Villas for theofpurpose of GIS Conversion Apartments & villas for the Purpose of GIS Conversion

3.1 AutoCAD Design Drawings (DWG) for Flats and Villas and Floors Details Technical-

3.1 AutoCAD Design Drawings (DWG) for Flats and Villas and Floors Details Technical Requirement Requirement:

AutoCAD Design Drawings that contains the (Plan Details of Apartments and Villas and Floors) have to

AutoCAD Design Drawings that contains the (Plan Details of Apartments and Villas and Floors) has to be created as Single Files without the apartment Template submitted by Land Department with the followbe created as Single Files without the apartment Template submitted by Land with the ing characteristics, and these files have to beDepartment attached and included in the Apartment Site Plan Template in following Characteristics , and these Files is the ones that has to be attached and included in the the defined locations, and all Drawings and Templates have to be designed and symbolized as the submitApartment Site Plan Template in there defined locations, and all Drawings and Templates has to be from Land Department. Designed and symbolized asted the Template submitted Template from Land Department. 3.1. a- Flat Detailed plan has submitted as plan independent (in case of duplex both floors file, (in case of duplex, both floors 3.1. to a-be Flat Detailed has to file be ,submitted as independent has to be created in one file placed beside each other and text beneath every floor define the floor Have to be created in one file, placed beside each other and text beneath every floor defining the floor number in words). number in words). 3.1.b- CAD Features for the above File has to be Exploded (So every single entity will be considered as Line specially (Hatches , Dimensions) Taking in consideration that Texts (That should be placed as Aannotation not Tags) will not be changed after Exploding. 3.1.bCAD features for the above file has to be Exploded (So every single entity will be considered as Line 3.1.c- Unused CAD Themes within the File has to be Purged. specially (Hatches, Dimensions) taking consideration that texts (that should be placed as Annotation 3.1. d- AutoCAD Drawing File (DWG) for Apartments and Villas Details ,inWhen Added to the not Tags) will not changed after Exploding. has to be be Written on the Flat or Villa, without Recompiling Template , the Actual Flat Dimensions it to Match that Scale. In addition, the actual dimension has to be available on the Independent Design Drawings as well. 3.1.c- Unused CAD Themes within the File has to be Purged. 3.1. e- Apartment Floor Plans AutoCAD Drawing File (DWG) has to be Exploded and Unused CAD Themes within the File has to be Purged. d-plans AutoCAD File (DWG) for Apartments Villas Details. When added to the 3.1.f- Apartment Plans and3.1. Floor should Drawing not be oriented (No orientation Angle to beand applied).

Template, the Actual Flat Dimensions have to be written on the Flat or Villa, without Recompiling it to match that Scale. In addition, the actual dimension has to be available on the Independent Design Drawings as well.

3.1. e- Apartment Floor Plans AutoCAD Drawing File (DWG) has to be Exploded and Unused CAD Themes 3.1 Delivery Directory structure within the File has to be Purged.

Delivery Has to Contain Both (Hardcopy (Every Flat and Villa) , Softcopy) , and the Hard Copy has to 3.1.fApartment and Floor plans should not be oriented (No orientation Angle to be applied). be printed on Yellow Paper (As Shown by Land Plans Department. 3.1.a The following Table shows how Delivery from Companies for Apartments Must Look Like, inside the Media used to deliver data such as (CD, DVD).

3.1 Delivery Directory structure

Delivery has to contain both Hard Copy (every flat and villa) and Soft Copy), and the Hard Copy has to be printed on Yellow Paper (as ahown by Land Department).

LAND INFORMATION SYSTEM UNIT 5 3.1.a The following table shows how delivery from companies for Apartments must look like, inside the SURVEY SECTION

Media used to deliver data such as (CD, DVD).

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CAD/GIS INTEROPERABILITY REQUIRED STANDARS

In case of Apartments submission

In case of Apartments submission:Project Name Apartment Municipality Community Number

Municipality Parcel Number Building Name Number

BL FL Flat_Plans

Sub Folder Contains Delivered Project Name. Keyword Municipality Community Number. (digits before dash starting from the Right) this information is exist in the Affection plans from DM or site plans from LD Municipality Parcel Number( digits after the Dash starting from the Right) Building Name or Number or Both in case of one of them is not available just Write the Word NULL . example Building name is RRR and no number the folder name will named as RRRNULL , in case of building number 1 and n Name folder name will be NULL1 , in case if both available name will be RRR1 Contains Floor plans for every flat as (dwg) Contains Flat plan as (dwg) Contains Flat Template as-per Land Department Submitted Template A3 Size.

In case of Villas submission:Project Name Villas Municipality Community Number Municipality Parcel Number Villa Name Number

VL Villa_Plans

Sub Folder Contains Delivered Project Name. Keyword Municipality Community Number. (digits before dash starting from the Right) this information is exist in the Affection plans from DM or site plans from LD Municipality Parcel Number( digits after the Dash starting from the Right) Villa Name or Number or Both in case of one of them is not available just Write the Word NULL . example villa name is RRR and no number the folder name will named as RRRNULL , in case of building number 1 and n Name folder name will be NULL1 , in case if both available name will be RRR1 Contains Villa floor Plans as (dwg) Contains Villa Template as-per Land Department Submitted Template A3 Size.

3.1.a Files Naming Structure Naming Convention of the Files delivered should follow the standard described in the following Table: 3.1.a Files Naming Structure:Naming Convention of the Files Delivered Should Follow the standard Described in the following Table

LAND INFORMATION SYSTEM UNIT SURVEY SECTION

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DUBAI FREEHOLD PROPERTY GUIDE CAD/GIS INTEROPERABILITY REQUIRED STANDARS

Flat_Plans 1- Follow the Following Formula in Case of Apartment Site Plans :(Flat Number) Example: Flat 1002 Under Building B1?! File Name : 1002 Villa_Plans 1- Follow the Following Formula in Case of Apartment Site Plans :(Villa Number) Example: Villa 1002?! File Name : 1002 BL - Follow the Following Formula in Case of Apartment Plan Design Drawing :(Flat Number_Floor Number) Example: Flat 1002 under parcel 345-1222 part of Building B1 UNDER Project T1 ?! CAD File Name for Apartment plan Details: 1002 FL - Follow the Following Formula in Case of Apartment Floor Plan Design Drawing :-(Flat Number_Floor Number) Example: Flat 1002 Duplex under parcel 345-1222 part of Building B1 UNDER Project T1 ?! CAD File Name for Apartment Floor Details:- 1002 VL - Follow the Following Formula in Case of Villa Detail Design Drawing Per Floor :(Villa Number) Example: Villa 1002 on parcel 345-1222 UNDER Project T1 ?! CAD File Name for Apartment Details 1002

3.2 Main features For the Templates prepared using Microstation Following description contains Microstation Level Standards that spatial Data has to be placed accordingly. 3.2 Main features

(Same as sample provided on the seed file)

This Level Structure for Map view of the Template For the Templates is Prepared Using Microstation Following isthat contains spatial Data for parcel and footprints Description Contains Microstation Level Standards that spatial Data has to be placed accordingly.

3.3 Tags (Same as Sample Provided on the seed File) This Level Structure Map view Template that contains spatial Essential Descriptive Informationis of for the Footprint hasof to the be delivered as attributes (Microstation Tags) attached to thefor Property Data parcelGeometry and footprints. Following are Requirements for these Tags:

3.3 Tags Essential Descriptive Information of the Footprint has to be delivered as attributes (Microstation Tags) attached to the Property Geometry Following are Requirements for these Tags

LAND INFORMATION SYSTEM UNIT SURVEY SECTION

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DUBAI FREEHOLD PROPERTY GUIDE CAD/GIS INTEROPERABILITY REQUIRED STANDARS

(Same as Sample Provided on the seed File) 1- Tag set "LD_REQ" has to be Created 2- Tag has to be Created under the above set "LD_REQ" as the following:2.a- PARCELID (Character) :Contains Municipality Parcel Number 2.b(Numberon ) : (1: Apartment building , 2: stands for Villa) (Same asPROPTYPE sample provided thestands seed for file) PROPNO(Character) : Contains 1 2.cTag set “LD_REQ” has to be created the Number of the Property assigned by Company PRJNAME (Character) Contains the“LD_REQ” Project name thefollowing: Property falls in. 2 2.dTag has to be created under :the above set as the PROPNAME (Character): Contains Building Name in English if exists. 2.a 2.ePARCELID (Character) :Contains Municipality Parcel Number PSTATUS (Number) : (2: Existing , 3: stands building for Under, 2Construction , 5: Stands For Not 2.b 2.fPROPTYPE (Number ) : (1: stands for Apartment stands for Villa) Built) 2.c PROPNO(Character) : Contains the Number of the Property assigned by Company 2.d PRJNAME (Character) : Contains the Project name the Property falls in. 2.e PROPNAME (Character): Contains Building Name in English if exists. CAUTION: ANY DATA DELEIVERD THAT NOT 2.f PSTATUS (Number) : (2: Existing , 3: stands for UnderDOES Construction , 5:FOLLOW Stands For NotTHE Built)

FOLLOWING WILL REJECTED CAUTION: AnySTANDARD data delivered thatBE does not follow BY the LAND standard will be DEPARTMENT. rejected by the Land Department Feature

Element Type 14

Microstation Level 1

Building Footprints As Complex Shape (Polygon)

14

3

Parcel Boundaries Complex Shape (Polygon)

14

5

Villa Footprints As Complex Shape(Polygon)

Feature Shapes attributes

Element Type Tags

Text Height & Width

Text Justification

Microstation Text Height & Text Level Width Justification As Suitable CC

Color

Must be placed Completely Inside Parcel Polygon Must be placed Completely Inside Parcel Polygon

Color

d

Element Type

Microstation Level

Extra Lines

3

11

Extra Texts

63

Parcel Dimensions

12

LAND INFORMATION SYSTEM UNIT SURVEY SECTION

Text Height & Width

Text Justification

Color

Remark To be Set as Explained in the upper page under Tags

BILITY REQUIRED STANDARS Feature

Remark

Remark Such As adjacent parcels Boundaries Such as Road other parcel Numbers Only allocated plot Dimensions

8

7 Users, Land department will submit True Type Font and installation guide to Companies. DFPG 2007 ers, Windows Arabic88 Transparent True Type font has to be used. far as its following windows regional settings there will be no issue.

Apartment Excel Sheet Template Required Information:


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12

Parcel Dimensions

11

Microstation Level

63

3

Extra Texts

Element Type

Feature Extra Lines

Text Height & Width

Text Justification

Color

Remark Such As adjacent parcels Boundaries Such as Road other parcel Numbers Only allocated plot Dimensions

-

Building No.

Flat Type

Apartment No.

Floor No Foot Print Roof

For Common Areas Field in Excel , don’t insert values of this field to be depending on other Hidden fields Just insert the values to be independent of any other excel fields, and make sure no excel formulas For that particular field attached to it

Project Name

Parcel No.

Avarage Building Hight Meter Suite

Balcony

Actual Area sq.f Total Area Sq.f Areas / Sq.F

Common

No.

Parking

- For Apartment Total No of rooms , in case in addition to rooms there is Terrace the values to be inserted is (Total No of Rooms+Terrace)

9

- Make sure that Terrace or Balcony areas if exist, calculated and inserted under the field (Balcony).

- Actual Area hasortoBalcony be (Gross Area [from centreand of wall to the centre of the Wall]). Make Sure that Terrace Areas if exist, calculated inserted under the field (Balcony). For Apartment Total No of Rooms , in case that in addition to Rooms there is Terrace the Values to be inserted is (Total No of Rooms+Terrace)

LAND INFORMATION SYSTEM UNIT SURVEY SECTION

-

For Common Areas field in Excel, don’t insert values of this field to be depending on other Hidden fields Just insert the values independent any other excel fields, and make sure no excel formulas for that particular - Flat Type: Contains One ofto thebe Following Numericof Values for Every Flat:1.field Apartment attached to it 2. Shop - Flat Type: Contains one of the following Numeric Values for every Flat: 3. Office 1 Apartment - Actual to be (Gross Area (from Center of wall to the Center of the 2 Area has Shop wall)). 3 Office

No.

Building Name

Apartment Total No Of Rooms

REQUIRED DATA FOR APARTMENTS

Apartment Excel Sheet Template Required Information: Apartment Excel Sheet Template Required Information

1- For Microstation 5 or 7 Users, Land department will submit True Type Font and installation guide to Companies. 2- For Microstation 8Users, Windows Arabic Transparent True Type font has to be used. 3- for ArcGIS Users , as far as its following windows regional settings there will be no issue.

For Microstation 5 or 7 Users, Land department will submit True Type Font and installation guide to companies 2 For Microstation 8Users, Windows Arabic Transparent True Type font has to be used. 3 Used for ArcGIS Users, as far as it’s following windows regional settings there will be no issue. 3.3 Arabic Fonts

1

3.3 Arabic Fonts Used

CAD/GIS INTEROPERABILITY REQUIRED STANDARS

Apartment Drawing File Name

Floor Drawing File Name

CAD Design Drawing

Consultant Name

Original Owner


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Project Name

Parcel No.

Floor Number Villa No.

No. of Total Floors

Villas Excel Sheet Template Required Information

No. of Total Car Parks Roof

Villa Area Sq.ft.

BuiltUp Area Sq.ft. Areas Sq.ft

Common No. of Bedrooms

Drawings File Name

CAD Design Drawing

LAND INFORMATION SYSTEM UNIT SURVEY SECTION

Total Common area = Total Building Common Area + Total Land Common area

Total Land Common area = total land area – total built-up ground area.

Total Common area = Total Building Common Area + Total Land Common Area

Total Building Common Area = total built-up area – total flat areas.

10

Common to be submitted LD for each ownerBuilt-up = (Individual Flat Area TotalArea Landrequired Common area = Total to Land Area – Total Ground Area / Total Flat Areas) * total Common Area

Total Building Common Area = Total Built-up Area – Total Flat Areas

for Calculating Common Areas bothFlat flats and *Villas Exists:-Area Common Area required to be submitted toFormula LD for each owner = (Individual Flat Area for / Total Areas) Total if Common

Formula for Calculating Common Areas for both Flats and Villas if exist:

Villa Built-Up Area: The Area of the building itself (Floors Area _Car Parking Area (if exists).

Area: TheThe Area ofofthe the (Floors Plot, theArea Villas built on it.Area (if exists)). Villa Villa Built-Up Area: Area theportion buildingofitself _Car Parking

Foot Print

Average Building Height Meter

REQUIRED DATA FOR VILLAS

Villas Excel Sheet Template Required Information:

If in addition to Rooms there is Balcony the Value to be inserted is (Total No of Rooms + Balcony) - Numbering of the Flats on the excel sheet has to match the reality

In case that in addition to Rooms there is Balcony the Values to be inserted is (Total No of Rooms + Balcony) Numbering of the Flats on the excel sheet has to Match the Reality

Villa Area: The Area of the portion of the Plot the Villas Built on top of it.

No.

-

CAD/GIS INTEROPERABILITY REQUIRED STANDARS

Consultant Name

Original Owner Name

DUBAI FREEHOLD PROPERTY GUIDE


ERABILITY REQUIRED STANDARS

DUBAI FREEHOLD PROPERTY GUIDE

wing in case of Duplex Apartment and in case of Villas : in case of Duplex apartment and Villas only land department required that apartment plans for the g And first floor to be combined in one file , as shown below.

Samples Drawing in case of Duplex Apartment and in case of Villas : in case of Duplex apartment and Villas only land department required that apartment plans for the ground floor and first floor to be combined in one file , as shown below.

OPERABILITY REQUIRED STANDARS

or plans: following is sample of Floor plans drawing how to be delivered. And it should be delivered for every apartment.

Sample of floor plans: The following is a sample of Floor plans drawing to be delivered. And it should be delivered for every apartment.

N SYSTEM UNIT

11

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ERABILITY REQUIRED STANDARS

Duplex apartment plans: following is sample of Floor plans drawing how to be delivered. And it should be delivered for every apartment.

N SYSTEM UNIT

Sample of Non Duplex apartment plans: The following is sample of Floor plans drawing how to be delivered. And it should be delivered for every apartment.

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LAND INFORMATION SYSTEM UNIT SURVEY SECTION

CAD/GIS INTEROPERABILITY REQUIRED STANDARS

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DUBAI FREEHOLD PROPERTY GUIDE

Important Note : This Standard is due to be Changed from time to time , for any changes developers and consultants will be notified to accommodate the changes in the new submissions occurs after the changes is submitted.

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DUBAI FREEHOLD PROPERTY GUIDE

Brokerage Office Registration Procedures Administration Concerned Real Estate Evaluation & Studies Administration, Real Estate Offices Organisation Section Application Submission and Receipt Transaction Counter in Customer Hall at ground floor Real Estate Organisation Section on second floor www.dubailand.gov.ae Application & Registration The following documents are required to be submitted to the transaction counter: z Application form duly completed and attached with two passport size photos z Passport copy along with file number (Licence holder) z Copy of extract of Civil Register z Copy of Trade Licence valid at least for 3 months z Copy of certificate of membership from Dubai Chamber of Commerce and Industry z Undertaking to do practice with honesty and integrity in accordance with the applicable rules and regulations and the convention of honour z Certificate of good conduct z Copy of lease/ownership of shop z True copies of certificates of completing courses specialized in real estate field within Qualification Program for the real estate brokerage establishments and companies approved by the Administration. (not applicable currently) z Passing of the real estate brokerage practice examination prepared by the Administration (not applicable currently) 1. A file for the applicant will be opened after verifying that the applicant has not been registered before or given an application card with incoming serial number and the date of submission on the same day. 2. The application will be referred back to the transaction counter after 7 working days for a reply (Acceptance or rejection) from the Brokerage Permanent Committee.

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3. In case of final approval on the application by the Brokerage Permanent Committee, the applicant may refer to the Real Estate Offices Organization Section for the issue of a supply order for the administrative charges determined in accordance with the application type as follows: Brokerage Office registration: AED. 5,000 annually, including one broker card for the licence holder Additional broker card: AED. 500 per card annually Distinct card number: AED. 500 annually 4. On payment of the prescribed expenses at the accounts counter in Customer Hall a copy of payment voucher has to be submitted to the Real Estate Offices Organisation Section 5. On presentation of the original payment voucher, the Real Estate Offices Organisation Section in Real Estate Evaluation and Studies Administration will hand over the registration certificate & broker card at the date previously determined for the application. Additional Broker Card The following documents are required to be submitted at the transaction counter: z Application form duly completed and attached with two passport size photos z Passport copy with residence page z Copy of Trade Licence valid at least for 3 months z Undertaking to do practice with honesty and integrity in accordance with the applicable rules and regulations and the convention of honour z Certificate of good conduct z True copies of certificates of completing courses specialized in real estate field within Qualification Program for the real estate brokerage establishments and companies (not applicable currently) z Passing of the real estate brokerage practice ex-


amination prepared by the Administration (not applicable currently) 1. A file will then be opened for the applicant after verifying that the applicant has not been registered before or given an application card with incoming serial number and the date of submission on the same day. 2. The application will be referred back to the transaction counter after 7 Working days for a reply (Acceptance or rejection) from the Brokerage Permanent Committee. 3. In case of final approval on the application by the Brokerage Permanent Committee, the applicant may refer to the Real Estate Offices Organization Section for the issue of a supply order for the administrative charges determined in accordance with the application type as follows: Additional broker card: AED. 500 per card annualy Distinct card number: AED 500 annually 4. The prescribed charges are to be paid at the accounts counter and a copy of the payment voucher submitted to Real Estate Offices Organisation Section 5. On presentation of the original payment coucher, the Real Estate Offices Organisation Section in Real Estate Evaluation and Studies Administration will hand over the office registration certificate & broker card from at the date previously determin for the application Brokerage Office Renewal The following documents are to be submitted at the transaction counter: z Application form duly completed z Copy of Trade Licence valid at least for 3 months z Copy of certificate of membership from Dubai Chamber of Commerce and Industry z Certificate of good conduct z Copy of shop lease/ownership contract z True copies of certificates of completing courses specialized in real estate field within Qualification Program for the real estate brokerage establishments and companies approved by the Administration z Passing of the real estate brokerage practice examination prepared by the Administration 1. After enquiries about the particulars of the office

and the applicant and verification of the non-existence of violations, the applicant shall be given a supply order for the administrative charges prescribed according to the application type as follows: Certificate renewal: AED. 5,000 annually, including one broker card for the licensee Additional broker card renewal: AED. 500 per card annually Distinct card number: AED. 500 annually 2. The decided charges are to be paid at the accounts counter and a copy of the payment voucher to be submitted to Real Estate Offices Organisation Section 3. On presentation of the original payment, the Real Estate ffices Organisation Section in Real Estate Evaluation and Studies Administration will hand over the office registration certificate & broker card at the date previously determined for the application. Broker Card Renewal The following documents are to be submitted at the transaction counter: z Application form duly completed and attached with the old card z Copy of Trade Licence valid at least for 3 months z Certificate of good conduct z True copies of certificates of completing courses specialized in real estate field within Qualification Program for the real estate brokerage establishments and companies z Passing of the real estate brokerage practice examination prepared by the Administration 1. On enquiries about the office and the applicant and verification of the non-existence of violations, the applicant shall be given a supply order for the administrative charges prescribed according to the application type as follows: Additional broker card renewal: AED.500 Distinct card number: AED. 500 2. On payment of the decided charges at accounts counter, a copy of the payment of voucher may be submitted to the Real Estate Offices Organisation Section 3. On presentation of the copy of the payment voucher, the Real Estate Offices Organisation Section in Real Estate Evaluation and Studies Administration hands over the new broker card.

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Brokerage Practice

DUBAI FREEHOLD PROPERTY GUIDE


Code of Ethics for Brokers

T

he Real Estate Brokerage profession is one of the professions that influence real estate activity due to its role in promoting real estate investment. Therefore, the Department is keen on organizing this profession as per the By-Law No.85 issued in 2006 in relation to preserving and organizing the Real Estate Brokers Register, which includes the regularized procedural and subjective rules for the real estate brokerage activity. One of the most important aspects of the By-Law is Article 14, which stipulates that “all registered brokers must comply with professional ethics according to the Code of Ethics prepared by the Committee in consultation with brokers with expertise and opinion”. Therefore, the Code was issued to complement the Brokers’ By-Law by associating legal rules with the rules of moral and professional conduct in the practice of Real Estate Brokerage in the Emirate of Dubai; and its principles are based on the ethics of conducting business and transactions in the field of real estate brokerage, the foundation of which is honesty, trust, integrity, respect and similar principles derived from the heritage and ethics of the UAE society. The development and improvement of the brokerage profession is a goal that the Code seeks to achieve through the brokers’ obligation to provide the highest levels of professional and ethical conduct.

Sultan Bin Buti Bin Mijrin Director-General Lands & Properties Department

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DUBAI FREEHOLD PROPERTY GUIDE

The Code of Ethics

W

E, Real Estate Brokers licensed to practice in the Emirate of Dubai, hereby undertake to adhere to the following principles

ties honestly and to inform the parties of all the facts and circumstances known to us regarding the real estate and to conduct our business with trust and integrity without harming the reputation of the real estate brokerage profession.

and rules:

1 Fair Treatment

We undertake to treat all contracting parties equally and to achieve justice between them without prejudice or differentiation.

5 Quality Observance

2 Respectful Treatment

We undertake to respect the contracting and concerned parties and to respect the privacy of parties and we reject any conduct that would belittle them.

3 Preservation of Privacy

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We undertake to provide brokerage services of practical value to parties related to the real estate brokerage activity and to continuously seek to develop such services in terms of precision and quality.

6 Observance of Regulations and Laws

We undertake to preserve the privacy of the parties and the confidentiality of their information and undertake not to reveal any information which is confidential or considered as such to any party whether such information relates to the buyer, the seller or any parties related to real estate brokerage. We further undertake to keep this information from reaching any party that would expose it for contractual or personal purposes.

We undertake to observe the regulations and laws applied in the country and to honour our contractual obligations. We further undertake not to allow individuals who are not brokers to operate through our office or to exploit the name or licence of our office. We realize that forgery, intentional or negligent presentation of false information or data or any attempt to do so shall subject its perpetrators to questioning and investigation in addition to taking necessary disciplinary action against them.

4 Trust and Integrity

7 Integrity

We undertake to present the deal to both par-

We are diligent in dealing with all parties with


integrity and trust and undertake that our efforts will be based on trustworthy and clear information. We further undertake to deal transparently with all parties concerned, including transparency of systems and procedures related to our operations.

8. Obligation towards the Society

We undertake to be active members of the society and to work to respect the values and principles of our society. We shall also strive so that our services will support the growth of real estate development in the Emirate.

9 Observance of the Interests of Contracting Party

We undertake to protect the interests of the contracting parties and to abstain from doing anything that might harm the interest of one party.

10 Obligation to Preserve Document

We undertake to preserve all documents, instruments and things related to the deal.

11 Respect of the Regulations and Procedures of the Lands & Property Department We undertake to respect the regulations and procedures followed by the Department. We are further bound by the rules of good behaviour when visiting the Department and to respect the instructions issued to us by the Department officials. We undertake not to establish special relations with the Department employees for personal gain. By signing this Code of Ethics, it is hereby acknowledged that we have read and understood the Code of Ethics, we submit this undertaking willingly and promise to abide by these principles and rules within all aspects of the practice of real estate at all times. By signing this undertaking, it is hereby agreed by the signor, to routinely every week log on to RERA’s website, check new announcements, read and learn new laws introduced, including any amendments to the new or existing laws and apply them and abide by them immediately or as and when required. By signing this undertaking, the signor makes a promise to wear my Brokers Card on me at ALL times when I am working in or out of my office or to any party when asked.

Signed: _________________________________ Name: __________________________________ Broker’s Card No: _________________________ Register Broker No: ________________________ RERA Official Representative. Office Name:_____________________________ Witness: ________________________________ Date: ____ / ____ / ____

Name:

Company Seal

RERA Seal

_______________________________

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Definition of Broker

A

n Emirate-Licensed Agent who, for a fee, acts for property owners in a real estate transaction. The Broker / Agent can also act as a Buyer’s Agent to locate a suitable property for a property purchaser or a tenant of a property’.

Registration Requirements The registration requirements for the RERA Broker’s Register is as follows;

6

7

A Certificate of Good Conduct for the establishment’s owner and the senior manager or senior managers of the company. None of the company’s directors or the partners authorised to run the company shall previously have been declared bankrupt or convicted of a crime violating honour or trust. Obtaining certificates in courses specialized in the real estate field from educational institutions accredited by the Department.

Office/Establishment

Individual

(Application to be made on the prescribed form only with all original documents plus one clear set of copies of the originals.)

(Applications to be made on the prescribed form only with all original documents plus one clear set of copies of the originals. The individual’s registration shall be only under the Broker’s Register-registered Establishment and shall provide 1 Passport Copy 2 Residency Visa (occupation must be the same as on the Labour Card) 3 Valid Labour Card 4 Certificate of Good Conduct 5 Two passport size passports The occupation on the residency visa must be the same as the occupation on the labour permit. For those without 6 months residency permit in the UAE, the establishment owner may have to sign an undertaking with RERA as each case will be reviewed individually and a ‘Special Arrangement’ may be permitted in these instances.

1

2 3

4

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A valid trade licencse issued by the competent authorities. (This shall include Department of Economic Development activity codes 7101-01, 7010-02, 7010-03, 7414-04 or property developers registration licence upon decision and/or as directed at sole discretion of RERA Executive under Article (5) A) A membership certificate in the Dubai Chamber of Commerce & Industry. A copy of the applicant’s licence/ passport with regard to the sole proprietorships or companies. An exact copy of the ownership certificate of the brokerage firm or its lease contract.


Ensuring an ‘ethical’ property market in Dubai By Judy Healy Real Estate Brokers Register Projects Manager - RERA

T

he newly established Real Estate Regulatory Agency in Dubai has kicked off with a strong emphasis on real estate ethics. Built on the principles of honesty, trust, integrity, respect and similar principles derived from the heritage and ethics of the UAE society, the Code of Ethics sets out clear and concise practices and rules all real estate agents, brokers, sales staff and employees are expected to abide to the fullest. The Code of Ethics is written in simple logical terminology with real estate relevant terms which are easily applied in the day-to-day activities and functions performed by the real estate practitioner. It makes sense to all – Buyers & Sellers (property investors in Dubai), Broker Office Owners, sales people, and RERA as the regulatory body ensures that the core principles of this Code are pivotal in every decision aimed at organizing the Brokers and Agents and regulating the Dubai property market. RERA applies the Code of Ethics keeping this at the heart of any decision. It is expected that all the registered Brokers & Agents also take to heart the primary core principles of the Code and apply them as a natural influence in servicing their clients and customers on a day-to-day basis. All Agents and Brokers will be tested on their knowledge and application of the Code of Ethics. RERA is in the process of market testing the new standard prescribed forms to be used across the entire industry commencing January 2008. Thorough knowledge of the Code of Ethics is essential for use of the standard forms being introduced and compliance is mandatory. Therefore all Agents and Brokers will be required to update their stock inventory, ensure their recordkeeping is in order and is conducive for the regulatory procedures and communicate the expected practice requirements to clients and customers who are the buyers and sellers of property. All practitioners should have absolute knowledge of By-Law No. (85) of 2006 and the Code of Ethics. RERA is encouraging inter-agency agreements between companies operating in the field not only to

foster harmonious relationships, but also to ensure cooperative and best practice services shall protect the consumers when two or more agents are transacting on behalf of their respective clients. The new forms commencing January 2008 shall include, but are not limited to: Seller Agreements – no Agent shall be permitted to advertise market or promote a property without written consent from the Seller. The Client Agreement shall specify the Seller’s full details, the property details, the listing price and the terms and conditions of the appointment of the agent. Agents will be required to research and communicate the likely selling range of the property to their Seller client before the Seller agrees to list the property. The Code of Ethics plays an important part at this initial stage of the property selling process. Communicating truthful information to a Client is the only acceptable practice. As true professionals, Agents must provide the Seller accurate and current market information in regards to the value of the property they are listing before signing the Seller agreement. This will effectively cease the widespread practice of outdated and old listing prices on websites and advertised in print media which effectively draws in Buyers and Sellers misleading them on price values. In other countries this is called ‘bait pricing’ and is a highly illegal practice. It is simply not honest. Buyers Agents shall have to have a signed agreement with their Buyer. This will reduce the Agent abuse in the marketplace and Buyers are advised to select their Agent / Agents carefully and sign the Buyers Agreement if the Agent is asking for a Buyers Commission. The Agents working together shall be required to have an Inter-Agent Agreement before discussions about a property with another Agent. No Agent will be permitted to share property listing information from a Seller unless they have a current signed Seller Agency agreement. Likewise, the Buyers Agent shall have to have a signed the Buyers Agent agree-

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ment before they contact another Agent. This will reduce inconvenience and uncertainty to the Buyers who are often dealing with two, three and four agents who simply do not have the property listing and search the market till they find a property. Often, the Agents are working against each other and then asking for their share of commission. The long awaited Standard Contract Agreements are also being market tested. This shall replace the commonly used MOU or Sale & Purchase agreements often being ‘misused’ in the secondary market. It is expected that before the end of 2007, all Master Developers and the major developers shall be fully aware of the new expectations and requirements of Brokers and Agents. This shall be applied in the secondary market prior to property handover when sales of property are transacted before completion. The process shall only be available and forms downloadable from RERA’s website, which shall be the only acceptable format for secondary market transactions and transfers at the completion and settlement of the sale. Only registered Brokers shall have access to utilize the standard forms and their Brokers Card shall have to be produced for every transfer transaction with the developer. This shall pave the way for only the professionally registered Agents to operate and the ‘freelancer’ and illegal operators shall be a thing of the past. Whilst the standard forms are straightforward and basic, they shall induce a fair and equal playing field. The sheer dynamics of the Dubai real estate industry as a whole was considered, and the interesting characteristics of this huge international property market arena needed a fair and equitable approach, meeting the needs of all the interested parties. Dubai, as everyone knows, has people from almost every country across the globe; it is the most prominent and well-known true international real estate market with transactions made daily where the Buyer often is in one country and the Seller in another country. In Dubai, the Agents speak almost all languages and come from every corner of the earth; the real estate Agents come from countries with differing methods and practice level approaches to a transaction. Some Agents have university degrees whilst others have very poor English skills as English may be their second language (ESL) yet they are top producers and performers. Thus for RERA, the challenge was to cater for this diverse dynamic

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professional group to ensure the market regulations meet the need of all the interest groups, and RERA has applied the primary principles of the Code of Ethics to respect the achievement of ESL practitioners, to ensure that they as a group are respected and not disadvantaged. The standard forms shall be in English, Arabic and English/Arabic combined. This shall cater for the English and Arabic operators/practitioners working with clients and customers who are more comfortable with Arabic or English. All transactions shall have transparency, and Brokers and Agents shall be required to maintain their Agency ‘Special Register’ of all transactions, including Seller Agreements and Buyer’s Agent Agreements, Inter-Agent Agreements and all the associated records. RERA is expected to announce more exciting steps toward achieving their objective when it comes to Brokers and organizing the market. It is certain that customers and the industry operators themselves shall witness within 3-4 months a huge difference in the market and the real estate practitioner services. The Dubai Government is serious in its intent to stamp out any unlawful and unsavory practices in the market. RERA is committed to fulfilling these expectations to regulate and deliver a superior market reputation with first class practices, which in a short space of time, shall be embraced around the world. Dubai’s reputation to deliver the most superior buildings shall be renowned for the best industry operators well known for their ethics and high service standards. It is wise and advisable to have ALL negotiations and contractual agreements in writing. This offers the opportunity to reduce unnecessary misunderstandings, mistakes, misrepresentations, and problems due to miscommunication / lack of appreciation and mutual respect of the two parties to the agreement. A real estate property is the asset of its owner. A responsible agent is being paid by a Seller to list, market and present a potential Buyer for the property, who shall enter into an enforceable and legally binding contract of sale for the Seller. The Agent, therefore, has an ethical obligation to obtain the highest possible price for the property and utilize his / her negotiation skills for the Seller’s benefit and ensure that the property is sold within the Seller’s time-frame required and at the highest possible price. The role of the Agent should be made clear from the onset. The Agent should define all efforts to be


undertaken to market the property for the Seller, document them in the agreement and of course DO IT!. Thus an Agent/ Broker must DO what he/she promises to a client or a customer - a Buyer or a Seller. The Agent has a responsibility to list the property so that it will actually sell. The Agent should undertake a CMA (Comparative Market Analysis) and ensure that the Seller is made fully aware of the consequences of pricing / listing a property too high. All in the industry know that a property simply won’t sell if it is overpriced. In most cases, a Seller will rely on the Agent’s knowledge of the market and ask the Agent what the property is worth in trust and good faith. The Agent is expected under the Code of Ethics to be absolutely honest in their communications to clients and customers alike. When pricing property for sale, if the price is listed too low, then the Agent has acted irresponsibly and in effect robbed the Seller of monies. If the property is priced too high, then the property will NOT sell and the Seller shall be very much dissatisfied and again, this is irresponsible conduct of a professional agent and a waste of time for the Seller. Therefore, for the Agent to provide the best possible service to the Seller, the Agent needs to understand and accept the reason for Selling by the Seller; he /she should maintain the reason for selling in strictest confidence (this is a private matter and does NOT affect the value of the property) and the Agent must advise the Seller in absolute honesty and be able to qualify the correct price range of the property. The Agent should keep the Seller informed of the activity, feedback from buyers and their response / reaction to the property and, if need be, adjust the pricing of the property to meet the expectation of the market in order to get the job done for the Seller. An Agent should only be entitled to a fee when the property is sold at the price the Seller is happy with. A happy buyer and a happy seller will contribute to a smoother sale completing. This is the reputation ALL Brokers and Agents should be striving for in the Dubai property industry and is expected by RERA at all times. The Agent should be patient with the Seller and fully explain the Brokers’ Contract Agreement before the Seller is asked to sign it. There are obligations and responsibilities between both parties in the Brokers Appointment Agreement; it is a contract between the two parties. The Seller will be signing an undertaking on

FORM A that he/she will not market or advertise the property at a lower price and undermine the Appointed Agent’s efforts to find a willing Buyer. Nor will the Seller be permitted to raise the price of the listed property when a willing Buyer has been presented by the Agent with an offer that the Seller originally stipulated on the Agent’s Appointment in writing. All transaction deposit monies shall be held in trust and the record keeping by Agents / Brokers shall reflect the new rules whereby the process is adhered to and monies are easily traceable. RERA and Brokers / Agents are expected at all times to protect the customers, and by following the new rules and procedures RERA shall also ensure the Brokers and Agents are also protected. Honest communication is the key to success in real estate, and building this reputation by individual practitioners is an essential habit benefiting the practitioner. This is also a good ‘habit’ for the agent to develop and practice with their client (the Seller or the Buyer) as in time, the Agent/s shall also have to explain the contents of the Contract of Sale to the Buyer and the Seller when the Buyer is making their offer to purchase. RERA will organize the market with a firm hand and fair regulations to protect the integrity of the market, the Brokers, the Agents, the Buyers and the Sellers, whereby all are playing by the same rules. Not too different from a game of soccer when all the players are playing by the same rules, they may not speak the same language to communicate but they can sure score a goal and defend when the opponent is attacking. At the end of the day in real estate we all like to score the goal. And as with any emerging or established property market, the goal is a sale. The vested interest players in real estate are the Buyers, the Sellers, the Brokers and Agents. The Seller sells at a price they are happy with and can reinvest their monies, a Buyer buys a property and is contented with their purchase, an Agent obtains their hard earned commission for a job well done and the Broker Office wins their fee through a hard working ethical honest employee who gets the job done with pride.

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DUBAI FREEHOLD PROPERTY GUIDE

Real Estate Regulatory Agency

BROKER'S CONTRACT AGREEMENT

FORM A

(SELLER)

CD/SP201

STR

As per the Real Estate Brokers By-Law No. (85) of 2006.

THE PARTIES

PART 1. A)

THE AGENT / BROKER (Block letters only)

B) THE PROPERTY OWNER (The Seller)

NAME OF ESTABLISHMENT: _____________________________________________ Address: _____________________________________________ _____________________________________________ OFFICE CONTACT DETAILS: Ph:___________________ Fax: _________________ Email: ______________________________________ BRN:_______________ DED LISC:_______________ P.O. Box: ___________________________________

NAME OF OWNERS: 1. _____________________________________________

NAME OF REGISTERED AGENT: NAME: _______________________________________ BRN:_______________ Date Issued:_______________ Mobile: _______________________________________ Email: _______________________________________

Ph:______________________________

2. _____________________________________________ ADDRESS:_____________________________________ _______________________________________________ Ph:______________________________

Email: ______________________________________ P.O. Box: ___________________________________ P.O. Box: ___________________________________

DECLARATION BY THE AGENT

DECLARATION BY THE OWNER (The Seller)

I hereby declare, I have read and understood the Real Estate

I/We hereby declare, we are the Owners of the property as stated

Brokers Code of Ethics, I have provided the Seller/s with an

below. I /We undertake in agreement with the agent, to sell the said

honest market price range expected of the property, and I shall

property when a reasonable offer to purchase is presented by the

accept my client's instructions and work to obtain the highest

Agent / Broker. I/We shall not advertise or market the property lower

possible selling price from a potential buyer. I shall present all price

than herein (not at all for Exclusive Agent) and act promptly to

offers in writing and shall receipt a deposit to be held in trust till

respond to the buyer's proposal. We understand that any deposit

a contract of sale is executed & transfer completion.

monies will be held by the Agent & cannot be accessed till settlement.

THE PROPERTY

PART 2.

PROPERTY ADDRESS:_________________________ _____________________________________________ MASTER DEVELOPER: ________________________ MASTER PROJECT NAME: _____________________ PLOT NO: ____________________________________ COMMUNITY NUMBER: ________________________ BUILDING NAME: _____________________________ APARTMENT NO# _____________________________ AREA: ____________ SQ FT (GFA) CAR PARK ______ ORIGINAL PRICE: _____________________________ DATE OF PURCHASE: _______/_________/_________ DATE OF LAST TRANSFER: _____/________/_______ DEVELOPER: _________________________________ RERA DEVELOPER REG NO: # ___________________ TRANSFER FEE: ______________________________ PAID BY: SELLER BUYER NEG MAINTENAINCE FEE P.A _______________Per Sq Ft STUDIO 1 BR 2 BR 3 BR 4BR

IS A COPY OF THE ORIGINAL CONTRACT ATTACHED? YES NO IS THERE A MORTGAGE ON THE PROPERTY? YES NO IS A COPY OF OWNER'S PASSPORT ATTACHED? YES NO DOES A MOU EXIST ON THIS PROPERTY? Yes / No IS THE PROPERTY TENANTED? Yes / No PAYMENT SCHEDULE: ALREADY PAID: __________________________AED BALANCE TO DEVELOPER: ________________AED NEXT PAYMENT: ____/_____/____ ____________AED NEXT PAYMENT: ____/_____/____ ____________AED NEXT PAYMENT: ____/_____/____ ____________AED NEXT PAYMENT: ____/_____/____ ____________AED OTHER PLEASE SPECIFY: ______________________ ______________________________________________ DOES A TENANCY APPLY TO THIS PROPERTY? YES / NO

RANGE:

AED.

TO

LIST PRICE

The Seller has instructed the Agent to list the property at the listing price above. The Agent has advised the Seller the likely selling price range of the property based on current market price indicators. The Seller agrees NOT to increase the price above the highest price as stated above after signing this appointment agreement. If so, in this instance, the Agent may claim loss of fees from Seller.

............... / ............. Initials

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AED.


FORM A

Real Estate Regulatory Agency

Â

BROKER'S CONTRACT AGREEMENT (SELLER)

CD/SP201 Â

THE AGREEMENT (Terms and Conditions)

PART 4. THE AGREEMENT

This Agreement shall commence on ____ / ____ / ____ This agreement shall expire on ____ / ____ / _____ The Agent may /may not (cross out which does not apply) seek to renew this agreement after ________ days. (A renewal should be done in writing on FORM A1. The Agent shall list, market and introduce a prospect buyer who is qualified and willing to buy. The Agent shall provide the Seller and activity update on the progress on a weekly / fortnightly / monthly basis. (cross out which does not apply) All offers to buy the property shall be provided to the Seller/s in writing on the prescribed form and meet the Dubai & UAE Government laws & RERA requirements. The Seller shall be prepared to sign a legally binding contract to sell the property and not increase in price nor make any additional adverse demands at the time when the willing buyer presents, with a reasonable offer to purchase with similar conditions herein.

THE CONDITIONS

The property transfer fee shall be paid by The Buyer The Seller Negotiable The DLD The Developer payable to (Tick whichever applies) The property, listed by the Seller/s with this Agent/Broker is on the following basis for the term as noted herein 1. Exclusive Agent (See below) 2. Sole Agent (Owner may sell privately) 3. Open Listed (Listed with more than 1 Agent) The Exclusive Appointment is defined as the ONLY one permitted to list & market the property including the Seller The Agent is permitted to engage in joint / conjuncting with another Registered Broker to introduce a Buyer on the prescribed contract of sale form. Yes No This agreement may be terminated by the Seller/s only on the FORM U (a blank is attached and provided to the Seller at the time of signing this appointment) which must be issued with 7 days advance notice. The Seller/s shall be obliged to provide the reason of termination & if a buyer introduce by the Agent buys the property, the Agent shall still be entitled to claim the fee from the Seller/s.

BOTH PARTIES HAVE ACCESS TO DISPUTE RESOLUTION WITH RERA IF IN DISPUTE.

THE COMMISSION & FEES

PART 5.

OTHER FEES

AGENT'S COMMISSION The Agent / Broker's commission fee applicable is agreed between the parties at _________ percent ( %) of the agreed sale price of a contract of sale. The parties hereby agree that the Agent's Commission shall be deducted from the deposit monies held in trust on the day of settlement of a contract of sale after the transfer is completed. Unless agreed, the Agent shall act for one party only.

PART 6.

Agent Seller (Tick whichever applies) Advertising Key Cutting Courier Costs Bank Charges International Currency transfer costs Signboard The parties agree that the fees shall not exceed an amount of ___________ AED, this shall be paid upon an invoice present to the Seller by the Agent at settlement, this shall be noted in the sale agreement.

THE SIGNATURES

THE SIGNATURE - THE AGENT / BROKER NAME:_______________________________________ Please Print in block letters (Full Name) SIGNATURE:__________________________________ REGISTERED BROKER NUMBER: _______________ AGENCY / BROKER OFFICE NO. ________________

THE SIGNATURE - THE OWNER/S (Seller/s) NAME:_______________________________________ SIGNATURE:__________________________________ NAME:_______________________________________ SIGNATURE:__________________________________ DATE OF SIGNATURE: _____ / _____ / _______

This Appointment Agreement must be signed by the Agent with their Broker's Register Number inserted under the Company / Office Stamp over the Agent's signature. The parties acknowledge that this agreement shall be registered in the Agent / Brokers Transaction Register in their office as required under the Real Estate Brokers By-Law No. (85) of 2006.

............... / ............. Initials

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Real Estate Regulatory Agency

FORM A3

Sold Developer始s Stock Advice

As per the Real Estate Brokers By-Law No. (85) of 2006.

STR

PART 1. DEVELOPER'S STOCK A) THE AGENT / BROKER (Block letters only)

SALES ADVICE

B) THE PURCHASER

NAME OF ESTABLISHMENT: _____________________________________________ Address: _____________________________________________ _____________________________________________ OFFICE CONTACT DETAILS: Ph:___________________ Fax: _________________ Email: ______________________________________ BRN:_______________ DED LISC:_______________ P.O. Box: ___________________________________

NAME: 1. ________________________________________

NAME OF REGISTERED AGENT: NAME: _______________________________________ BRN:_______________ Date Issued:_______________ Mobile: _______________________________________ Email: _______________________________________

Ph:______________________________

PART 2.

2. ________________________________________ ADDRESS:________________________________ __________________________________________ Ph:______________________________

Email: _____________________________________ P.O. Box: ___________________________________ P.O. Box: ___________________________________

THE PROPERTY

PROPERTY ADDRESS:______________________________________________ MASTER DEVELOPER: ______________________________________________ MASTER PROJECT NAME: ________________________________ PLOT NO: _________________ (as per developer's contract) COMMUNITY NUMBER: ____________ BUILDING NAME: _____________________________________ APARTMENT NO# ________________ FLOOR ____________ AREA: ____________ SQ FT (GFA) CAR PARK ______ . PRICE: _____________________________ AED DATE OF PURCHASE: _______/_________/_________ DEVELOPER: _________________________________ RERA DEVELOPER REG NO: # ___________________ AGENCY AGREEMENT EXPIRY DATE ____/_____/______ SCHEDULE DATE OF COMPLETION Month ________ yr________ MAINTENAINCE FEE P.A _______________Per Sq Ft STUDIO 1 BR 2 BR 3 BR 4BR

PART 3. THE AGENT / BROKER

AGENT ADVICE

NAME:_______________________________________ Please Print in block letters (Full Name) SIGNATURE:__________________________________ REGISTERED BROKER NUMBER: _______________ AGENCY / BROKER OFFICE NO. ________________ This form is NOT mandatory, but may be referred to at a later date for clarification for title registration.

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NEW OWNER ADVICE

NAME:____________________________________ NAME:_____________________________________ ADDRESS: _________________________________ PASSPORT NO: ____________ EXP: ___/____/___ NATIONALITY: _____________________________ This advice is NOT a pre-title registration advice, Please advise your buyer to contact (LARA),

CD/SP201


PROPERTY PURCHASE AGREEMENT CONTRACT - Apartments The Buyer & the Seller agree to Buy and Sell the Property specified, under the Terms and conditions of this Purchase Real Estate Regulatory Agency (RERA)

FORM F

Agreement Contract prepared by Dubai

Contract Date: ……………………………………………… Listing Agent: ………………………………………………………………………. …. Lisc: ……… Issued By: ……………Exp Date: ……… Broker Office RERA Reg ……………… Address: …………………………………………..………………………….………………….…... Telephone:……….……………….…………….….. Fax: ………..….……………………………… Mobile: ………………….……..….......... Sales Consultant: ………………….………..….……….. Email Address: …………………………………………………..……Broker Card ID….…….…… Selling Agent: ………………………………………………… 1. PARTIES

First Party

Seller: Address:

Broker Card ID …….……..

……..….…………………………………………………………………..……. ……….…………………………………………………………………..……….……...

Telephone: ……………..……………….. Fax: ………………… Passport No:…………… (copy attached) Mobile….…………….………….............. Email:……………..…………………….……………….. Sellerʼs Solicitor Name:

……………………….……….…………………………………………………

Company: ……………………….……….………….……………………………………………… Address:

…………………………..………………….……………………………………………

Telephone: ………………….……….… Fax: ....………………… Mobile:

………………………………Email:.. …………………………………………..…….

PARTIES

Second Party

Buyer: Address:

…….…………………………..……………………………………….………. …………………………….…….………….…………………………………….……...

Telephone: ………………………….….. Fax: ………………………. Passport No:…..….…… (copy attached) Mobile:

……….………………….........Email: ………………..………………………….……..

Buyerʼs Solicitor Name:

……………………………..……………………………………………….……

Company: ………………………….……….………………………………………………...……… Address:

…………………………………..………………………………………..………….……

Telephone: ……………………………..…Fax: ....…………………………………………… Mobile:

………………………………. Email: …..…………………..…….

……………/……………. (Insert Initials)

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DUBAI FREEHOLD PROPERTY GUIDE PROPERTY PURCHASE AGREEMENT CONTRACT - Apartments The Buyer & the Seller agree to Buy and Sell the Property specified, under the Terms and conditions of this Purchase Real Estate Regulatory Agency (RERA)

FORM F

Agreement Contract prepared by Dubai

2. PROPERTY Details Address:……………..………………………………………………………………………….…….. Original Developer: ……………………………………………………………….. DRN:………………… Description: Apartment Unit No: ……………… Bedrooms:……… Bathrooms……… Car Park …….... Plot No: ...………………………….…………… Unit Floor Area: ……………………sq ft/mt………….. Major Project: …………………………………

Community Area No: ……..…………………………....

Building Name: …………………………………. Reference ID: …….……………...…………………….. Present Use: ………………………………………Date Completed:..………….…………………………… Excluded Fixtures: ……………………………………………….………………….……………………….. Removable Inclusions……….…………………………….………..………………………………………… Matters affecting The Property: Tenancy: Tenant’s Name: ……………………………………………………....…….………………………. Terms and Options: ………………………………Commencement Date: ………………………… Security Deposit: …………………………………Rent: …………………p.a Lease:

Yes / No

Title Encumbrances: ………………………………………………….……(If applicable) Maintenance Fees: ………………………………….… per annum. If the property shall be provided as vacant possession at settlement, has the tenant willingly agreed to vacate the property? …. (Insert YES /NO, if YES, a copy of the Vacating Notice FORM V signed by the tenant & original lease is attached) 3.

PRICE

3.1

Purchase Price: ……………………………… AED

Total Deposit:……………………………… % OF PURCHASE PRICE to be held by listing Agent till Settlement. Initial Deposit: ………………..……………… upon signing this document, held by Listing Agent, receipt attached (The initial deposit is fully refundable to the Buyer by the Agent within 48 hours if the Price, Terms and Conditions of Sale are not agreed by Seller) Balance of Deposit: …………………………. Due By: …………………………………. Held by Listing Agent.

3.2

Finance

Finance Amount: ………………………………………..………. Financier: ………………………………………………………… Has Pre-Finance Approval been obtained Y / N? Finance Date: ……………………………………………………. (See Special Conditions Clause ……) ……………/……………. (Insert Initials)

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Page 2 of 4


PROPERTY PURCHASE AGREEMENT CONTRACT - Apartments The Buyer & the Seller agree to Buy and Sell the Property specified, under the Terms and conditions of this Purchase Real Estate Regulatory Agency (RERA)

FORM F

Agreement Contract prepared by Dubai

3.3

Additional Finance Details

Balance of Funds required before settlement: ……………………………AED To be held by Listing Agent Due By:………………………. Mortgage Registration with Developer

YES

NO

Mortgage Discharge with Developer

YES

NO

(Fee payable at transfer by buyer if applicable) (Fee payable before transfer by seller if applicable)

Title/Pre-Title Registration for this property has been registered with Dubai Land Department :

YES

NO

Date of Property Handover by Developer: …………………………………. (Floor Plan to be attached by Agent & initialed by both the Buyer & the Seller.

Complete this section for Buyerʼs take over of Developerʼs Payment Plans prior handover. Original Price: …………………………..AED Owner’s Premium: ………………………….…… AED Amount Already Paid by Seller to Developer:

………………………….………..…………...AED

Transfer Fee: ……….% of ……………….Paid to………………………… Amount:………………….……AED Paid By:

Buyer

Seller. Paid to Listing Agent held till settlement, Due By: …………….……..…(Insert date)

Balance of Funds from Buyer: …………………………… Due By: …………………………………….(Insert date) Held Pending Settlement By: ……………….………………………………………………… ( Buyerʼs Representative) (Note: The Buyer must ensure all deposited funds are cleared and available for transfer within 7 days prior to the settlement/transfer date)

Developerʼs Payment Terms Balance:

Total Outstanding:…………………..

Buyer’s takeover Continuance of Developer’s Terms of Payment for the property is as agreed in Special Condition Clause ……………… and initialed by the Buyer and Seller and forming part of this agreement. Estimated Building Completion of building by Developer and handover Date: ……………………..… Trust Account Number ……………………………. RERA Approved Bank: ……………………………………. 4.

AGENT/BROKER FEES

The Buyer agrees to pay an Agent/Broker Fee of ………………% of the property purchase price as per FORM B. The Seller agrees to pay the Agent / Broker fee of …………… % of the property sale price as per FORM A. Both the Buyer and the Seller agree the above Agent/Broker fees shall be deducted from the deposit monies held by the Listing Agent and only payable when settlement has been effected and the property transfer is completed. Failure of an Agent / Broker to adhere to this Clause shall be deemed as a breach of Code of Ethics. The Buyer/Seller/Listing Agent/Buyer’s Agent shall have access to RERA Dispute Resolution under By-Law No (85) of 2006 if in dispute. ……………/……………. (Insert Initials)

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PROPERTY PURCHASE AGREEMENT CONTRACT - Apartments The Buyer & the Seller agree to Buy and Sell the Property specified, under the Terms and conditions of this Purchase Real Estate Regulatory Agency (RERA)

FORM F

Agreement Contract prepared by Dubai

5.

SPECIAL CONDITIONS: The Buyer and the Seller agree to the following Special Conditions which shall form part of this Purchase Agreement Contract.

6.

SETTLEMENT:

Settlement Date: ………………………………………….…….Place for Settlement: …………………….., UAE. 7.

SIGNATURES:

THE BUYER:

In the presence of

Signature: …………………………………. Dated: …………….this day of……………

Witness:…………...………………………….. Dated: …………….this day of………………...

THE SELLER:

In the presence of

Signature…………………………………….. Dated: …………….this day of………………

Witness.………………………………………. Dated: …………….this day of………………...

AGENT Name: ………………………………..……… Signature: ………………..……………………. Agency: …………………………………….. Dated: …………….this day of………… PASSPORT COPIES OF ALL SIGNATORIES INCLUDING THE WITNESSES MUST BE ATTACHED

(The parties agree to make this contract by facsimile or other electronic means. Both parties shall receive within 24 hours a copy of the dated contract. The parties agree that this contract is legally binding and effective as if it had been executed in each otherʼs presence. For the purposes of satisfying the Original Developer and/or a Financier, the parties agree to execute an original contract of this contract and deliver the same to the Buyer or Buyerʼs representative in Dubai by the finance approval date. This shall be by registered courier from the Agent.)

……………/……………. (Insert Initials)

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FORM I REAL ESTATE REGULATORY AGENCY

AGENT TO AGENT AGREEMENT STR

As per the Real Estate Brokers By-Law No. (85) of 2006.

PART 1. THE PARTIES DATE:____/____/____ A) THE AGENT / BROKER (SELLER'S AGENT) B) THE AGENT / BROKER (BUYER'S AGENT)

NAME OF ESTABLISHMENT: "x" _____________________________________________ Address: _____________________________________________ _____________________________________________ OFFICE CONTACT DETAILS: Ph:___________________ Fax: _________________ Email: ______________________________________ BRN:_______________ DED LISC:_______________ P.O. Box: ___________________________________

NAME OF ESTABLISHMENT: "x" _____________________________________________ Address: _____________________________________________ _____________________________________________ OFFICE CONTACT DETAILS: Ph:___________________ Fax: _________________ Email: ______________________________________ BRN:_______________ DED LISC:_______________ P.O. Box: ___________________________________

NAME OF REGISTERED AGENT "A": NAME: _______________________________________ BRN:_______________ Date Issued:_______________ Mobile: _______________________________________ Email: _______________________________________ SELLER'S AGENT FORM "A" RERA REG ID#

NAME OF REGISTERED AGENT "B": NAME: _______________________________________ BRN:_______________ Date Issued:_______________ Mobile: _______________________________________ Email: _______________________________________ BUYERS AGENT FORM "B" RERA REG ID#

I hereby declare, I have read and understood the Real Estate

I hereby declare, I have read and understood the Real Estate

DECLARATION BY AGENT "A"

DECLARATION BY AGENT "B"

Brokers Code of Ethics, I have a current signed Seller's

Brokers Code of Ethics, I have a current signed Buyer's

Agreement FORM A, I shall respond to a reasonable offer to

Agreement FORM B, I shall encourage my Buyer as named

purchase the listed property from Agent B, and shall not

herein, to submit a reasonable offer for the stated property and

contact Agent B's Buyer nor confer with their client under no

not contact Agent A's Seller nor confer with their client under no

circumstances unless the nominated Buyer herein has already

circumstances unless the Agent A has delayed our proposal

discussed the stated listed property with our Office.

on the prescribed FORM with a reasonable reply within 24 hours.

PART 2.

PART 3.

THE PROPERTY

THE COMMISSION (split)

PROPERTY ADDRESS:_________________________ The following commission split is agreed between _____________________________________________ the Seller's Agent & the Buyers Agent. MASTER DEVELOPER: ________________________ SELLER'S % BUYER'S _____________________________________________ AGENT AGENT MASTER PROJECT NAME: _____________________ BUYER'S NAME:_______________________________ ____________________________________________ PROPERTY DETAILS: TRANSFER FEE: ______________________________ BUYER NEG PAID BY: SELLER Listing Agent to complete: BUILDING NAME: _____________________________ LISTED PRICE: ________________________ AED BUDGET FOR THE BUYER ? ________________AED DESCRIPTION: ____________________________________________ HAS THE BUYER HAD FINANCE APPROVAL? YES NO ____________________________________________ ______________ _____________________________ DOES A MOU EXIST ON THIS PROPERTY? Yes / No HAS THIS BUYER CONTACTED THE LISTING AGENT ? YES NO IS THE PROPERTY TENANTED? Yes / No MAINTENAINCE FEE P.A _______________Per Sq Ft The property Developer is listed on the RERA Developer's Register YES / NO ? To be completed by AGENT A Agent B shall be paid within 7 days from the the date of transfer and settlement of an enforcable transaction.

%

SIGNATURES

PART 4. AGENT A - ______________________________________ Both Agents are required to co-operate to fully complete this FORM & retain AGENT B - ______________________________________ a fully signed & stamped copy on file, RERA DRS is available to both Parties(Office Stamps here "x")

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Form K Dispute Lodgment

Dubai Land Department BROKERʼS REGISTER COMPLAINT (For use by Client/Customer - Agent/Brokerʼs agreements only) as per Real Estate By-Law No. (85) of 2006 Chapter 5, Article (35).

RE:

Complainant

DISPUTE RESOLUTION

Name: Address: Phone:

Mobile:

Fax:

Email:

Nature of Dispute:

Brokerʼs Contract Dated:

(Copy Attached if applicable)

Property: _____________________________________________________________ Respondent: Agent/Broker/Developer Brokerʼs Card No: Contact Phone:

Fax:

Mobile:

Email:

Signed: …………………………………………. Dated:

……………………………………

NAME:

…………………………………… (Complainant)

Received By RERA: …………………………….. Date: ……………………………….. File No: …………………………………………..

A copy  of this  Form  has  been sent  to the Agent  by  the Client/Customer.  Please  attach  additional  pages  in  typed  format  if  required.     FORM  K  – Version  1 

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FORM N REAL ESTATE REGULATORY AGENCY STR

NOTIFICATION OF SALE & TRANSFER

PART 1. DEVELOPER:

BUYER:

DRN#: NAME: PHONE NO: MOBILE EMAIL:

NAME: ADDRESS:

.

COUNTRY:

.

NATIONALITY: PASSPORT NO: PLACE OF ISSUE: EXPIRY DATE: RESIDENCY: MOBILE: EMAIL:

THE PROPERTY: MASTER DEVELOPMENT:

. .

DLD REG NO: BUILDING NAME: PLOT NUMBER: NO. OF FLOORS: APARTMENT: FLOOR AREA (incl balcony) sq ft No. of bedrooms No of bathrooms Maids Room Yes / No Car Spaces Views: Yes / No Annual Maintenace Fee AED per annum . Has the Owners Association been formally established? Yes / No (Formally established refer to DLD registration pending the Strata Law release) SALE PRICE __________________ AED

.

DATE OF TRANSFER ____/____/____

The Agent hereby declares that the new buyer has been advised to do a 'pre-title' registration with the Dubai Land Department. There is currently no fee applicable for this service. The Buyer is advised to present in person with their papers for their property purchase and a copy of their passpsort and residency visa of their country and apply for 'pre-title' registration. Signed by New Owner

SIGNATURES

PART 2. BROKER / AGENT

NEW OWNER

NAME: DATE:

. /

/

NAME: DATE:

. /

/

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FORM P1 REAL ESTATE REGULATORY AGENCY

APPOINTMENT OF PROPERTY MANAGER STR

PART 1. THE PARTIES A) PROPERTY MANAGER (Block letters only) B) THE PROPERTY OWNER (The Landlord)

NAME OF ESTABLISHMENT: _____________________________________________ Address: _____________________________________________ _____________________________________________ OFFICE CONTACT DETAILS: Ph:___________________ Fax: _________________ Email: ______________________________________ BRN:_______________ DED LISC:_______________ P.O. Box: ___________________________________

NAME OF OWNERS: 1. __________________________________________

NAME OF REGISTERED AGENT: NAME: _______________________________________ BRN:_______________ Date Issued:_______________ Mobile: _______________________________________ Email: _______________________________________

Ph:______________________________ Fax: ; Email: ______________________________________ P.O. Box: ___________________________________ P.O. Box: ___________________________________ (The Landlord MUST provide property proof of ownership)

PART 2

THE PROPERTY

THE TERM OF APPOINTMENT

Commencement Date / / Term: years Renew ? Yes / No End Date: / / PART 4

THE AGREEMENT

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. /

Ph:______________________________

REPAIRS & COSTS (Paid By)

Electricity & Water Pool Air Conditioning Gas Telephone Internet Plumbing Electricial Maintenaince Fees PART 6.

Landlord Landlord Landlord Landlord Landlord Landlord Landlord Landlord Landlord

Tenant Tenant Tenant Tenant Tenant Tenant Tenant Tenant Tenant

THE RENT & BOND

The property rent shall be Payable in advance on a Security Bond for the property

AED p.a basis AED

FEES

The Agent's Fee for Property Management shall be AED or % of the rent p.a The Agent's fee is payable from the each payment made by the tenant on the due date.

SIGNATURES

PART 8. BROKER / AGENT AGENCY / BROKER OFFICE:

/

____________________________________________

PART 7.

The Agent shall list, market and identify a suitable tenant for the property.The Agent shall present all prospect tenants to the Landlord and the Landlord shall sign the Property Lease without delay.

NAME: BRN#: DATE:

ADDRESS:____________________________________

PART 5.

PROPERTY ADDRESS:_________________________ _____________________________________________ MASTER DEVELOPER: _______ _________________ _____________________________________________ MASTER PROJECT NAME: _____________________ _____________________________________________ PLOT NO: _________________CN#________________ MAINTENAINCE FEES: BUILDING NAME: _____________________________

PART 3

2. __________________________________________

"x" (Office stamp)

OWNER / LANDLORD 1. SIGNATURE: NAME: 2. SIGNATURE: NAME: DATE: / /

. .


Location Maps

Maps by Senthil Kumaran

DUBAI FREEHOLD PROPERTY GUIDE


DUBAI PROPERTIES Dubai Business Bay

Plot Number : 30 (365-634) Area : 3553112 Sq. Ft. Community : Alshaikh Zayed Road

Dubai Properties

Plot Number : 118(345-339) Area : 7619438 Sq. Ft. Community : Al Qouz Industrial Second

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Location

MAPS

DUBAI FREEHOLD PROPERTY GUIDE Dubai Land

Plot Number : 65 (900-1032) Area : 2414876105 Sq. Ft. Community : Alruwaiyah

Dubai Land

Plot Number : 2(673-1091) Area : 22335691 Sq. Ft. Community : Al Barshaa South Third

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Arabian Bay

Plot Number : 8 (326-850) Area : 4307335 Sq. Ft. Community : Al Jadaf

Arabian Bay

Plot Number : 7 (326-851) Area : 3823297 Sq. Ft. Community : Al Jadaf

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Location

MAPS

DUBAI FREEHOLD PROPERTY GUIDE Dubai Health Care City – 1 Plot Number : 13 (315-185) Area : 3059795 Sq. Ft. Community : Um Hurair Second

Dubai Health Care City 2 Plot Number : 3 (326-814) Area : 8994865 Sq. Ft. Community : Al Jadaf

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Dubai Properties

Plot Number : 143 (251-4114) Area: 4967557 Sq. Ft. Community: Mardaf

Jumeira Beach Residence Plot Number: 33 (392-535) Area:5201991 Sq. Ft. Community:Marsa Dubai

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Location

MAPS

DUBAI FREEHOLD PROPERTY GUIDE Dubai Properties

Plot Number: 144 (251-4313) Area: 8001518 Sq. Ft. Community: Mardaf

The Lagoons

Plot Number: 165(411-513) Area: 62459428 Sq. Ft. Community: Ras Alkhor

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Dubai Technology, Electronic Commerce And Media Free Zone Authority Plot Number:69(372-550) Area: 2378071 Sq. Ft. Community: Al Safouh First

TECOM investments Free Zone Plot Number: 2(672-2968) Area: 21036566 Sq. Ft. Community: Al Barshaa South Second

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Location

MAPS

DUBAI FREEHOLD PROPERTY GUIDE TECOM investments Free Zone Plot Number:222(600-2353) Area: 42368257 Sq. Ft. Community: Nad Alshibba

Dubai Technology, Electronic Commerce And Media Free Zone Authority

Plot Number : 5(382-687) Area: 20359556 Sq. Ft. Community: Al Safouh Second

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Dubai Technology, Electronic Commerce And Media Free Zone Authority Plot Number : 49(383-107) Area: 8259795 Sq. Ft. Community: Emirates Hills Second

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Location

MAPS

DUBAI FREEHOLD PROPERTY GUIDE

NAKHEEL Palm Jabel Ali

Plot Number: 1 Area: 436624114 Sq. Ft. Community: Nakhlah Jabal Ali

Palm Jumeira

Plot Number: 1 Area: 229023597 Sq. Ft. Community: Nakhlah Jumeira

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Nakheel Co.

Plot Number: 143 (600-4934) Area: 26110448 Sq. Ft. Community: Jabal Ali

World Islands

Plot Number: 1 Area: 1060340714 Sq. Ft. Community: World Islands

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Location

MAPS

DUBAI FREEHOLD PROPERTY GUIDE Dubai Water Front

Plot Number: 391 (500-668) Area: 2485227505 Sq. Ft. Community: Jabal Ali

International City-1 Plot Number: 2(621-1351) Area: 7969146 Sq. Ft. Community: Warsan First

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International City – 2,3 Plot Number: 209(600-265) Area: 78702713 Sq. Ft. Community: Nad Al Shiba

Jumeira Village-South Plot Number: 82(600-4933) Area: 61169784 Sq. Ft. Community: Jabal Ali

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Location

MAPS

DUBAI FREEHOLD PROPERTY GUIDE Jumeira Village North & Jumeira Islands Plot Number: 4(393-108) Area: 71614401/43 Sq. Ft. Community: Emirates Hill First

Lost City

Plot Number: 74(500-584) Area: 37706361 Sq. Ft. Community: Jabal Ali

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Lost City

Plot Number: 142(500-637) Area: 34937927 Sq. Ft. Community: Jabal Ali

DMCC & Jumeira Lake Towers Plot Number: 814(393- ) Area: 18650472 Sq. Ft. Community: Emirates Hill First

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Location

MAPS

DUBAI FREEHOLD PROPERTY GUIDE Jumeira Golf Estate Plot Number: 81(600-2354) Area: 119134062 Sq. Ft. Community: Jabal Ali

Discovery Gardens Plot Number: 83(500-619) Area: 17194437 Sq. Ft. Community: Jabal Ali

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Dubai International Marine Sports club Plot Number: 15(392- ) Area: 230176 Sq. Ft. Community: Marsa Dubai

Nakheel Co.(Gardens & IBN-E-Battuta Mall) Plot Number: 84(500-562) Area: 22884093 Sq. Ft. Community: Jabal Ali

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Location

MAPS

DUBAI FREEHOLD PROPERTY GUIDE Nakheel Co.(Dubai Promenade) Plot Number: 14 (392-237) Area: 654010 sq. Ft. Community: Marsa Dubai

45. Dubai International Financial Center Plot Number: 337-458 Area : 930259 Sq. Ft. Community : 337

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Dubai International Financial Center Plot Number: 337-457 Area: 362225 sq. Ft. Community: 337

Dubai World Center

Plot Number: 500-594 Area: 573354886 + 885566752 sq. Ft. Community: 500

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Location

MAPS

DUBAI FREEHOLD PROPERTY GUIDE Al Merkad

Plot Number: 347-105 Area: 4049703 sq. Ft. Community: 347

Festival City first Plot Number: 1 Area: 4049703 sq. Ft. Community: 411

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Festival City Second Plot Number: 1 Area: 48840177 sq. Ft. Community: 412

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Location

MAPS

DUBAI FREEHOLD PROPERTY GUIDE

EMAAR PROPERTIES Emaar Properties – Burj Dubai Plot Number: 147(345- ) Area: 23570987 Sq. Ft. Community: Shaikh Zayed Road

Emaar Properties (Alraudha & Emaar Complex) Plot Number:51 (383-106) B 147 Area: 6382630 Sq. Ft. Community: Jabal Ali

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Emaar Properties (Arabian Ranches) Plot Number: 215 (600-1222) Area: 66018190 Sq. Ft. Community: Nad Alshibba

Emaar Properties(Marsa Dubai) Plot Number: 7(392-106) Area: 30749730 Sq. Ft. Community: Marsa Dubai

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Location

MAPS

DUBAI FREEHOLD PROPERTY GUIDE Emaar Properties (Family Accomodation) Plot Number: 5(358-516) Area: 48800 Community: Al Goze Third

Emaar Properties(Labour Accomodation) Plot Number: 10(365-887) Area:100000 Sq. Ft. Community: Al Goze Industrial Second

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Emaar Properties (P.J.S.C) (Bachelor Accomodation) Plot Number: 6(358-517) Area: 30850 Community: Al Goze Third

Emaar Properties (P.J.S.C) (Gold Factory) Plot Number: 28(368-640) Area: 511343 Sq. Ft. Community: Al Goze Industrial Third

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Location

MAPS

DUBAI FREEHOLD PROPERTY GUIDE Emaar Real Estate (Lakes) Plot Number: 1 (388-1030 Area: 12898553/77 Sq. Ft. Community: Emirates Hills Second

Emaar Properties (Emirates Hills-Springs, The Meadows) Plot Number: 001 Community: Emirates Hills 3

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Developers

DUBAI FREEHOLD PROPERTY GUIDE


Where the Vision of Dubai Gets Built

O

ne of the world’s largest privately held real estate developers, Nakheel is a key player in realising the vision of Dubai for the 21st century: creating a world class destination for business and tourism. The vision of Nakheel is rooted in the values and leadership of the late Sheikh Rashid bin Saeed al Maktoum, who 50 years ago looked upon the blank canvas of the desert and saw a great city rising, and his son, H.H Sheikh Mohammed bin Rashid al Maktoum, who is bringing this vision to fruition. A key part of that vision was diversifying Dubai’s economy; growing the Emirate into a leading tourism destination. Dubai was already well known for its year-round sun and pristine beaches, but the Dubai coastline was limited to only 70km. It was thus in the late 1990s that H.H Sheikh Mohammed

bin Rashid al Maktoum came up with the ingenious solution of building a man-made island to create more beachfront. The concept evolved from the plan to build an island that would create 10km of beachfront to one that would provide more than 70km; from a simple round island to one that would be an iconic, complex shape; dhow boats and falcons were proposed but it was the palm design that was ideal. Its shape both maximised the amount of beachfront created, as well as being an iconic symbol of Dubai: the palm tree had for centuries been a key source of food and shelter for the people of Dubai. Thus in 2001, The Palm Jumeirah was launched. Measuring 5km by 5km, the concept seemed outlandish to many, overly ambitious or even impossible. Yet Dubai and Nakheel’s success has been built

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DUBAI FREEHOLD PROPERTY GUIDE

on saying yes when others say no. At that time Nakheel as a company had not been formed, but with the launch of subsequent projects such as The Palm Jebel Ali – the second of The Palm trilogy – and The World, saw the formation of Nakheel in 2003. Literally meaning “The Palms” in Arabic, Nakheel was more than simply a real estate developer; it was a company that would reshape the map of Dubai by creating innovative, bold and iconic developments. Now this extraordinary vision is becoming reality. Nakheel has completed a number of developments including the world’s largest themed mall, Ibn Battuta Mall; the world’s largest inland manmade island residential community, Jumeirah Islands; and one of Dubai’s most popular residential communities, The Gardens. And the end of 2006 saw the first residents move onto Nakheel’s signature project - The Palm Jumeirah. The first phase of development on The Palm Jumeirah will see more than 4,000 properties handed over in 2007; properties that have seen premiums rise as high as 250 per cent. And this is just the first of many more milestones on The Palm Jumeirah, which will see it established as not only one of the region’s, but also one of the world’s leading tourist destinations. The first of more than 30 hotels to open, in November 2008, will be Atlantis, The Palm; the centrepiece hotel of The Crescent is a 1,500 room hotel and resort, featuring more than 65,000 marine creatures and 2km of interconnected rides at what will be the region’s largest water-park. The Trunk’s centrepiece hotel will be The Trump International Hotel & Tower, a 61 storey mixed-use luxury hotel and residential building; destined to become the Dubai skyline’s next iconic landmark, it will be The Trump Organization’s first development in the Middle East. One of the world’s most famous cruise-liners, the QE2, is set to find a permanent home at The Palm Jumeirah from 2009. Another world re-

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nowned tourism attraction due to take up residence there will be the spectacular Cirque du Soleil. The permanent Cirque du Soleil will be an entirely original show specifically created for The Palm Jumeirah. The premier will be showcased towards the end of 2010. Beyond The Palm Jumeirah, development of Nakheel’s portfolio of 15 other projects continues apace. Reclamation of the first phase of The Palm Jebel Ali is complete, with the palm shape now visible from space, and The Palm Deira is progressing well. Once all three Palm islands are complete, The Palm trilogy will be the world’s three largest man-made islands and cover an area larger than Manhattan. Four kilometres off the coast of Dubai, the shape of the earth’s continents is also now visible, with reclamation of The World development on-schedule for completion in 2008. Comprised of 300 separate islands, the first resorts are due to welcome visitors by the end of 2010. And Nakheel is not only changing the shape of the Dubai coastline. Both International City and Discovery Gardens are meeting the demand for quality accommodation at accessible prices. Handover of the first residences at International City began at the end of 2006, with the delivery of Discovery Gardens beginning at the start of 2008; the two projects will be delivering more than 50,000 units. Yet this is just the beginning. Over the coming decades Nakheel is set to develop more than two billion square feet of land, create 1,000km of new coastline, and build residences for a population of more than three million people; changing the very texture of the city with landmarks of ingenuity, distinctive residential communities, unique retail offerings and unprecedented investment opportunities. Nakheel – where the vision of Dubai gets built For more information please visit www.nakheel. com

The Palm Jumeirah Nakheel’s signature project, The Palm Jumeirah was


launched in 2001, with reclamation works started in the same year. Measuring 5km by 5km, a man made island in the shape of a cultural icon, land reclamation of this size and scale had never been achieved before and has increased Dubai shoreline by more than 100 per cent. The first residents moved in at the end of 2006, with 4,000 units to be handed over by the end of 2007. This first of many milestones over the next six years, The Palm Jumeirah will be a destination of more than 30 world class hotels, including the 1500 room Atlantis and 61 storey Trump International Hotel & Tower, as well as the iconic ocean liner the QE2; an array of home types; exceptional retail, leisure and entertainment, including a permanent Cirque de Soleil theatre.

The Palm Jebel Ali The second in The Palm Trilogy, The Palm Jebel Ali alone will host an estimated 250,000 people when completed, with an infrastructure capacity to support up to 300,000. Initial reclamation is now 100 per cent complete, with 10 million square metres of land in place. Construction of the breakwater surrounding the development was finished in December 2006.  Infrastructure is scheduled to be completed in 2010, with the first residences due to be handed over at the end of that year. When completed, The Palm Jebel Ali will be the centre of a completely new city; a busy cosmo-

politan community with world-class commercial, residential and tourism facilities. At the heart of its offering are more than 85 kilometres of pristine beaches, with marinas and luxury hotels providing a perfect base for tourism and exploring the Gulf. The Palm Jebel Ali will also feature 500 waterhomes, as well as inspirational proverbs in Arabic “written” with pontoons, visible from the air and lit up at night time by a dynamic lighting system.  Alongside these facilities, The Palm Jebel Ali will provide a mixture of housing types and a full range of services for its communities, including schools, medical centres and commercial outlets.

Dubai Waterfront

Dubai Waterfront is the world’s largest waterfront development based on the shores of Dubai. Along with The Palm Jebel Ali, Dubai Waterfront will transform an area of empty desert and sea into a bustling international community, with an estimated population of 1.7 million people by 2020. The area is being developed along the coastline of Jebel Ali, near the Dubai / Abu Dhabi border and close to Dubai’s prime international commerce and industry hubs: the Jebel Ali Port, Jebel Ali Airport and the Jebel Ali Free Zone. Taking centre stage in the development is the Madinat Al Arab, meaning ‘City of Arabs’, and will be the planned urban downtown at the heart of Dubai Waterfront. The phase, consisting of more than 200 plots over 300 hectares on a number of different zones of land located on the beachfront near The Palm Jebel Ali, sold out for Dh13 billion in five days in July 2005. It will consist of a mixed use high-density buildings. Boulevard Park is the second phase of the development, featuring a 200 metre wide park stretching nearly 5 kilometres along the coastline and the Palm Cove Canal stretching 7 kilometres out into the mainland phases of the development. It will be medium density, mixed use development with a predominately residential focus. The central business district will be an 8.5 mil-

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lion square million high-density area, which will be a magnet for international business community, offering state of the art, modern business environment which will position the Dubai Waterfront area as the leading business district for the greater UAE region. In addition to the high-end residential and business properties, Nakheel will also be providing a range of affordable housing for Dubai’s working community, offering a variety of subsidised accommodation, complete with a range of services and amenities.

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the infrastructure required for a self sustainable island city haven. Reclamation of The World is on schedule to be completed in 2008, when the first investors will begin constructing their developments. Nakheel is developing 20 inter-connected islands across North America, with the first residents due to move on to the island in 2010.

Jumeirah Islands

The Palm Deira

Part of Nakheel’s Jumeirah Family, Jumeirah Islands is set across 300 hectares of land and as such is a luxuriously spacious development consisting of 4 and 5 bedroom villas designed for families. The 736

The Palm Deira will be the largest man-made island in the world and a new city within Dubai for more than a million people. The final part of The Palm trilogy, the development will occupy an enormous expanse of reclaimed land in the Gulf between Dubai Creek and the Sharjah border. 12.5km by 7.5km in size, The Palm Deira consists of nine major elements, and when completed, the islands will be linked to the mainland by bridges which extend both the current road transport network as well as the planned Dubai Metro train system. The development will be created in distinct phases, with reclamation of the entire development expected to be completed during 2013. The first phase of development is Deira Island, which features a balanced mix of commercial, residential apartment and mixed use plots set to create a family orientated, self-contained community as well as a commercial hub for visitors and residents alike.

villas are arranged in 50 clusters each containing 16 villas, set among a series of inland lakes, winding water features and lush greenery. All villas were handed over by July 2006, and the development has become established as one of Dubai’s most attractive residential communities, with investment premiums of up to 100 per cent.

The World

Jumeirah Village

The World is 300 islands in the shapes of continents located off the coast of Dubai. Ranging in price from $15 million to $50 million, the islands offer imaginative investors the opportunity to develop Dubai’s most exclusive leisure, residential or tourist developments. Measuring approximately 9km by 7km, The World will cover approximately 931 hectares and add an additional 232km of beachfront to Dubai’s coastline. With five different types of island community: Estate Islands, Mid Density, High Density, Commercial & Transportation, and Resort Islands, The World will be a remarkable collection of villas, apartments, resorts, restaurants and retail outlets set amidst a range of beaches, boating and other leisure opportunities. Yachts will be the primary mode of transport, and strategically placed transportation and commercial hubs have been designed to give the development

Jumeirah Village is a residential and commercial community located in Dubai’s highly desirable Jumeirah district. A mixture of Arabic and Mediterranean villas and stylish town homes, Jumeirah Village has been developed with quality family living in mind and so features community centres, jogging tracks and cycling trails. Spread over 811 hectares, Nakheel is developing more than 2,000 villas at Jumeirah Village. A range of third party developers are also building at Jumeirah Village, including residential towers, commercial units, as well as retail units and hotels.

Jumeirah Heights The latest addition to the Jumeirah Family, Jumeirah Heights is a community of more than 2,300 apartments and townhouses with a variety of localised retail and leisure amenities, in the heart of


New Dubai. With residential options of open plan apartments, lofts and duplexes, Jumeirah Heights is divided into three distinct areas - The Village Centre, Fronds and Clusters. The Village Centre contains two mid-rise buildings, consisting of almost 650 apartments and a variety of retail facilities including a supermarket, cafés, bank, pharmacy and a number of other outlets. A club house will welcome residents, while leisure facilities will include a swimming pool, a gym and a children’s play area. The two fronds will each consist of two mid-rise apartment buildings and 17 townhouses and a variety of leisure facilities for residents. The two clusters will each house 3 low rise apartment buildings boasting 2 and 3 bedroom loft apartments with private gardens and a variety of leisure facilities.

Jumeirah Park Jumeirah Park is a family-oriented residential Nakheel development in the heart of the desirable Jumeirah district. Focused around a series of ecofriendly green spaces and parks, the development is ideal for families and those who enjoy the outdoors. The project’s launch in late 2006 was a massive success, with 1000 units sold in the first 24 hours. The masterplan is spread over 350 hectares and consists of ten phases in total, which house 2764 three, four and five bedroom villas. The handover of property begins in the second quarter 2009, and it is expected that all residents will have taken up residence in their villas by the end of 2009.

Discovery Gardens Discovery Gardens is a 26 million square foot development of six themed communities inspired by garden living. Located in the new Dubai area between Jebel Ali Free Zone and the city’s booming modern business district, Discovery Gardens is a community of distinctive homes with prices that are well within reach.

Discovery Gardens will comprise 291 buildings with more than 26,000 spacious, multi-sized units in a family orientated community. A significant proportion of the developments will be devoted to garden landscaping, with the buildings grouped into themes, reflecting the variety of garden living available at the development. The themes are Zen, Mediterranean, Contemporary, Cactus, Mogul and Mesoamerican. Once completed the project will offer a range of amenities including ample parking spaces, swimming pools, basketball courts, tennis courts, volleyball courts, mosques as well as jogging & cycling tracks. The first phase of the project is due to be complete in 2008.

The Gardens Nakheel’s flagship rental development, The Gardens has established itself as one of Dubai’s most attractive and popular rental communities. The first Nakheel project to reach completion, all 129 buildings were completed and fully occupied by 2003. Located just a short walk away from

Ibn Battuta Mall in Jebel Ali, the architectural style is modern and relaxed with only low-rise buildings housing the 3,828 apartments. With the most accessible rent prices of any such community in Dubai, The Gardens also represents Nakheel’s commitment to affordable family living combined with quality lifestyle and amenities. A prime feature of The Gardens development

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is the emphasis on green space and parks, which allow residents to enjoy their community surroundings. There is also a strong emphasis on community facilities and outdoor lifestyle, with onsite leisure facilities and options, including volleyball and tennis courts, swimming pools, cricket and football pitch, as well as an on-site clinic and schools.

International City & Dragon Mart Complex International City combines commercial, residential, retail and tourism interests in one project, with a range of mixed use buildings, shopping areas and tourist attractions. International City is situated 12 km from Dubai International Airport, in Al Warsan, Dubai. There are five major phases at the development: Dragon Mart Complex, which opened in 2004, is the largest outlet for Chinese products outside mainland China. The Residential District features 380 buildings offering more than 22,000 studios and apartments. This district is made up of 9 country-themed precints. Having started in 2006, the handover of the residential district is scheduled to be complete by 2008. The Central District consists of 34 buildings and will become the hub of International City providing offices and residential space The Lake District is a world class wildlife sanctuary will be developed around Al Warsan Lake; once complete it will have a visitor centre and bird watch towers, as well as a range of other amenities. A number of residential buildings will also be developed around the lake. Finally, The Forbidden City is a well studied and thoroughly masterplanned component of International City. Once complete, it will offer a range of entertainment and leisure amenities.

Al Furjan Al Furjan is a local phrase that means a collection of

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houses or a small village to call home. Al Furjan was a common form of housing settlement in Dubai in times gone by. Al Furjan is a dedicated residential community development by Nakheel situated at New Dubai and launched in August 2007. Focused around four character villages, the development is designed for the family with open spaces integrated into the master plan to provide areas for children to play and families to connect. Al Furjan is moving away from the gated communities toward ‘new urbanism’. New Urbanism instils the principles of safe neighbourhoods being diverse in use and population, with communities designed for the pedestrian as well as the car, cities and towns being shaped by physically defined and universally accessible public spaces and community institutions, and boasting urban places that are framed by architecture and landscape design that celebrate local history, climate, ecology and building practice. 

Ibn Battuta Mall Ideally located to serve the hundreds of thousands of residents of New Dubai, including The Gardens, Discovery Gardens, Jumeirah Islands, Jumeirah Park and Al Furjan, Ibn Battuta Mall covers an area of more than 1.2 million square feet of retail space, offering a spectacular mix of retail, restaurants, entertainment and family activities. Themed around the travels of renowned 14th century Arabian explorer, Ibn Battuta, the architecture within the mall’s six courts reflects the most influential places he traveled during his time, and features the Middle East’s largest cinema complex, the UAE’s first IMAX and inaugural Fitness First Gym, and a permanent exhibition that celebrates 1000 years of Islamic contributions to science and technology. Offering an experience unique to all visitors, Ibn Battuta Mall reflects the unique combination of heritage and cosmopolitan lifestyle that is the very essence of Dubai.


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Bay Square

Exceptional new-age community centre

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anhattan has Times Square, Paris has the Champs Elyzees, London has Westminster Square, and now, Dubai, the fastest growing city in the Middle East, will have Bay Square, located at the region’s Business Capital Business Bay, Dubai Properties’ master development. Reminiscent of a stylish yet modern concourse, Bay Square, which will be located at Dubai Prop-

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erties’ master development Business Bay, a new age community centre with an exceptional appeal to businessmen, youth, residents and retailers for a creative corporate lifestyle and work environment. The landmark development will be completed by 2009. Situated at the Creek in the scenic part of Business Bay, Bay Square is conveniently located with


cafes, restaurants, and shops that overflow onto the pavements all along the waterway, creating an energetic ambience from dusk till dawn for residents, sightseers and visitors alike. Bay Square will be a pedestrian-only district which will include Venetian styled walkways over canals, a central plaza offering visitors different brand names to choose from, and with unique water attractions, a state-of-the-art gym for the health conscious individuals. In addition, to entice individuals with a creative twist, it will also encompass an art gallery hosting three contemporary exhibitions every year. Mohamed Binbrek, CEO, Dubai Properties, said: “Bay Square will add even more attraction to Business Bay for businesses and visitors alike. With the constant need for retail, commercial, and residential space in Dubai, Bay Square would not just add beauty to the city, but also much needed spaces to work from and live in.” He further added, “Bay Square will be an ex-

clusive commercial address in Dubai for companies and is expected to appeal to both local and international investors. Almost 60 per cent of Bay Square has already been reserved for commercial investors.” Bay Square will consist of 13 buildings, including a boutique hotel with downtown setting and an exclusive residential building. The remaining 11 buildings will comprise of mixed use components, featuring two floors of retail space, five to 10 floors of commercial office space, and two floors of rooftop and terrace apartments. Bay Square will be a 5 million sq. ft. development, of which 1 million sq. ft will be of office space, in sizes ranging between 1,500 sq. ft. - 17,000 sq. ft and feature studios, one-bedroom units, and loft-style apartments. The size of the residential units will range from 554 sq.ft. to 1,018 sq. ft. with an average terrace of 200 sq.ft per apartment overlooking the Creek, the Square, and Burj Dubai.

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Distinctive mixed-use development

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he Lagoons’ is a distinctive mixed-use waterfront development that is being developed by Sama Dubai, the international real estate investment and development arm of Dubai Holding. The self-contained urban development anticipates the growing need in Dubai for a living environment that delivers an unmatched quality of life within a unique natural setting. Underlining the Emirate’s position as a world renowned international destination, The Lagoons is set to be a landmark development within the booming property sector that has developed in the region over the past years. Designed with a vision to re-establish the heart and soul of the city, The Lagoons is situated along Dubai Creek, the historic focal point of life in Dubai. The development embodies a bold vision of the future while building upon its rich past, where traditional souks and navigable waterways will co-exist with global business houses and boldly designed landmarks in a dynamic environment set amongst a lush, green waterfront. Situated in the heart of Dubai, the creek-side development is being formed by extending the Dubai Creek further inland to create a series of seven beautifully landscaped and interconnected islands that encompass a mixed-use project unique to Dubai. The masterplanned development harnesses the existing beauty of its location on the creek, offering residents a perfect retreat surrounded by tranquil waters and open spaces while providing access to all of the necessities of metropolitan living. Spread over an area of 70 million square feet, The Lagoons is expected to catalyze Dubai’s position as an international destination by reinforcing its stature as a global centre of business, trade and

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tourism. As a mixed use community presenting unparalleled recreational opportunities, the signature development will also enhance the city’s diverse and multicultural offering and add to the development of its residential and tourist population. Among its many attractions, The Lagoons will provide tourists staying in one of the world-class hospitality chains with a plethora of entertainment venues in addition to shopping districts, retail promenades, a healthcare and therapy centre, spas and vast areas of landscaped gardens and parks. An overriding focus on establishing a ‘livable environment’ has meant that generous attention has been directed towards ensuring The Lagoons embodies a greater understanding of community requirements. Only too aware of the hazards of creating a new community from scratch, The Lagoons exhibits a great degree of sympathy for form and structure that is often lacking elsewhere. Significant efforts have been devoted to establishing a ‘true community,’ with extensive consideration given to creating a pedestrian-friendly environment with emphasis on designing structures exhibiting balanced presence that appeals to human interaction throughout The Lagoons. With less than 30 per cent of the total area being used for buildings, the masterplanned development’s richly landscaped surroundings are set amongst an unprecedented scale of open space setting. This ensures access to an abundance of large parklands and green belts teeming with accessible shaded public areas and plazas. The Lagoons also boasts an extensive network of bicycle tracks, walkways and jogging paths, which run alongside the project’s winding waterways.


The landmark development’s unique location alongside the internationally protected Ras Al Khor Wildlife Sanctuary means future residents of The Lagoons will enjoy the pleasure of nature, including the enjoyment of living close to an exceptional array of bird life (some 27,000 at peak seasons), flora and fauna. Residents and visitors alike will be able to enjoy some of the most stunning views across Dubai Creek in a development that has been designed and constructed to be in harmony with the surrounding ecosystems. Those seeking a respite from the hustle and bustle of everyday life will also be able to enjoy spectacular vistas of inspired landscaping overlooking the creek with scenic views of the yacht marinas and waterways, all set against an uninterrupted backdrop of the infamous Sheikh Zayed Road skyline. Seven vibrant districts will each contain distinct elements that will combine to offer a holistic living experience within islands interlinked by bridges. Al Dana, Al Sedaifa, Al Jiwin, Al Naama, Al Lulu, Al Hassabi and Dubai Opera House comprise the seven districts that will include a variety of residential units, and corporate and commercial facilities, juxtaposed with shopping promenades, and leisure and cultural components in an environmentally friendly setting. The development will also include themes of conservation, parkland and open spaces; boardwalks; resorts; marinas; five-star hotels; commercial towers with large office spaces; bicycle tracks, walking paths, and jogging tracks; malls and outdoor retail promenades on waterfront; as well as luxury villas and uptown apartments. The Lagoons will incorporate a unique work environment with its own Central Business District (CBD), where multi-national corporations and blue chip businesses can establish their headquarters. The centerpiece of The Lagoons’ commercial nerve centre will be the breathtakingly designed architectural icon, the ‘Dubai Towers – Dubai.’ A prominent landmark of this district, the cluster of towers will anchor as a bold sculptural presence in the city’s skyline. The district’s dynamic highrise executive lifestyle will be complemented by a plethora of exciting nightlife and entertainment options interwoven amongst waterside cafes and fine restaurants, offering a truly cosmopolitan experience. In addition to its exceptional natural surroundings, and in line with the project’s promise of an idyllic living experience, residents will have culture on their doorsteps in the form of Dubai’s only Opera House, designed by an internationally ac-

claimed architect. Celebrating human achievements in the arts, the truly iconic building will house a conservatory and will attract world acclaimed artists and performers to Dubai. Other cultural attractions will include a Planetarium, Museum, Arts Centre and Theatre. Protection of the environment is a key focus of The Lagoons, which has embraced environmental excellence as a cornerstone of the development by promising to provide an inimitable experience of ‘environmental living on Dubai Creek.’ It is one of the first projects in Dubai to undertake a comprehensive integrated Environmental Impact Assessment (EIA) following international standards across all phases of the project. To ensure harmonious existence with the surrounding ecosystems, Sama Dubai is also working in cooperation with Dubai Municipality and a number of international organizations to explore ways to protect and enhance the neighboring Ras Al Khor wildlife sanctuary. The Lagoons will be serviced by a first rate transportation system that includes trams, people movers, travelators, water taxis, and Dubai’s new Metro Transport System. The finalization of a new and more advanced bridge close to The Lagoons, currently being planned by the Dubai Roads and Transport Authority (RTA), will ensure smooth traffic to and from the development. In addition, its convenient location allows easy access to central areas of Dubai. The project’s close proximity to Dubai International Airport and excellent access to Emirates Road and Sheikh Zayed Road, as well as other major arterial routes, are also factors that set it apart from other developments across the Emirate. Far removed from the conceptual, high-rise projects commonly associated with Dubai, The Lagoons is an effort to return the city to its roots. Built with a long-term sustainable vision and with heightened awareness of people’s communal needs, the creek-side development is setting precedent by providing a template for future waterborne developments. It represents a unique investment proposition that offers a masterful fusion of proximity to the necessities of city life while providing a haven of seclusion and natural splendour that accommodates a relaxed living experience. The Lagoons offers freehold property with 100 per cent ownership to all nationalities. Half of the project will be sold to third party investors as land plots for development. The remaining 50 percent of the area will be developed, marketed and operated by Sama Dubai.

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Downtown Burj Dubai

Redefining downtown living

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he flagship project of global real estate major Emaar Properties, Downtown Burj Dubai is a mixed-use 500-acre community combining commercial, residential, hotel, entertainment, shopping and leisure outlets in open green spaces dotted with lakes and other water features. Located at its centre is Burj Dubai, the world’s tallest free-standing structure and building, scheduled for completion in 2008. The iconic tower is a combination of residential and commercial space and will include the Armani Hotel and The Armani Residences, Dubai, recreational facilities and entertainment venues, serviced residences, apartments, 15,000 sq ft of fitness facilities and an observatory. Other features include a luxurious cigar club, four pools, library and exclusive residents’ lounge. Burj Dubai will be surrounded by The Old Town, The Old Town Island, The Dubai Mall – one of the world’s largest shopping and entertainment destinations, Burj Dubai Square, Burj Views, Burj Dubai Boulevard, 29 Burj Dubai Blvd, The Residences,

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restaurants, hotels, residential facilities and much more - all located on the banks of the spectacular man-made Burj Dubai Lake. To sprawl over 22 million sq ft, Downtown Burj Dubai is set to redefine the concept of downtown living through an awe-inspiring living environment that blends modernity with tradition. With over 30,000 homes and 19 residential towers, Downtown Burj Dubai will be a true cosmopolitan environment and a prime driver of the freehold property market of Dubai. Downtown Burj Dubai has an eclectic mix of residential projects – ranging from low-rise to highrise apartments that celebrate diverse architectural styles, modern to traditional. The Old Town and The Old Town Island, for example, take design inspiration from the Arabian heritage by incorporating terraces, balconies, recesses and niches, while the 29 Burj Dubai Blvd is inspired by the skyline of New York. Apart from “island living” highlighted at The Old


Town Island, Downtown Burj Dubai also introduces loft living to Dubai through The Lofts and Loft Towers, which feature a masterful combination of high ceilings and space. Trendy living acquires a new dimension at Downtown Burj Dubai, as an array of leisure and retail facilities will open along a 3.5 km boulevard, while The Dubai Mall serves as the ultimate retail destination with over 3.7 million sq ft of net lettable retail space. The Dubai Mall will serve as a global magnet attracting visitors to Downtown Burj Dubai. The 5.8 million sq ft shoppers’ paradise has innovative components such a spacious Gold Souq, Waterfront Atrium, Fountain Oasis, Fashion Island, Ice Rink, one of the world’s largest aquariums and Kidzania children’s infotainment arena. Downtown Burj Dubai enjoys the close proximity of Sheikh Zayed Road and Dubai’s main commercial centers. The development will be self-sustaining with a 24-hour lifestyle and a buzz that percolates right through the residential, retail, business, entertainment, leisure and dining facilities. It will be the ideal place to live, work and play.

Arabian Ranches A premium multi-billion dirham desert development spread over thousands of acres, Emaar’s Arabian Ranches also covers an 18-hole championship course designed by Ian Baker-Finch and Nicklaus Design, a village community center, polo ground and equestrian centre. The luxury homes, set in a tranquil landscape, are designed to the latest standards. Upholding a ‘closer to nature’ philosophy, Arabian Ranches offers an exclusive lifestyle that is seeped in the mystery and beauty of the desert. Housing over 4,000 units comprising luxurious one- and two-storey single-family homes, the Arabian Ranches community includes features

such as a bicycle riding trails and pedestrian paths that lead to the golf course. Relaxed charm is the characteristic of villas at Arabian Ranches. The different components of Arabian Ranches – Alvorada, Al Mahra, Gazelle, Hattan, Mirador, Palmera, Saheel, Savannah, Terra Nova and La Avenida – have unique traits that make each of them stand out from the rest. Russet terracotta roofs, decorative turrets and other ornamental flourishes are the vintage features of Alvorada villas. Al Mahra features exquisite Arab-style golf homes that employ Mashrabia details to lend them a distinct identity. Gypsum decorations, arches, recesses, elegant domes and bright open spaces complement the Arabesque ambience. Inspired by the sheer grace of the Arabian gazelle, the Gazelle homes blend Arab and Spanish architectural features while Hattan is a collection of luxury villas that employ traditional Arab architectural design and elements such as enclosed courtyards, open terraces and earthy colours.

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Palmera highlights unique Spanish cluster-style homes that are at once individualistic while lending a community feel. Saheel has a contemporary design with each detached villa exuding an aura of natural bliss. Savannah offers the grandeur of a high-quality lifestyle and Terra Nova features Santa Fe-styled villas that are rich in colour and boasting a traditional Adobe style architecture. La Avenida, one of the latest additions to the Arabian Ranches neighbourhood in 2007, is a gated villa of only 17 exclusive lakeside villas that overlook the Arabian Ranches Golf Course. The Spanish and Portuguese-style villas have terra cotta roofs, stucco walls and arched windows – all giving it a distinct identity and aesthetic appeal. All designs within the Arabian Ranches community feature generous living space and have balconies, courtyards or terraces that open to the expanse of the Arabian Ranches Golf Course featuring a true 18-hole, par 72, desert style grass course and a clubhouse. All standards of golfer will also appreciate the GPS (Global Positioning System) yardage service available on every golf cart. The Spanish Colonial style Clubhouse boasts the Ranches Restaurant, with a terrace overlooking the panoramic scenic views over the 9th and 18th holes. Arabian Ranches also features the Dubai Polo and Equestrian Club, which extends over 68 acres and hosts polo, show jumping and dressage, horse riding and desert hacking. The Spanish hacienda-style Clubhouse offers varied dining options for guests apart from an array of facilities for corporate meetings and events. A village community center, plenty of open spaces, private yards within boundary walls and the Jumeirah English Speaking School, which offers primary and secondary schooling, are other features. The latest launch to the Arabian Ranches development is the Polo Homes community, a project under construction within the grounds of

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the Dubai Polo and Equestrian Club. Introducing luxury lifestyle living opportunities in an elegant environment, Polo Homes are located around polo fields and are a luxurious residential addition to the community. Polo Homes comprise 71 detached, 2storey villas, ranging from four- to six-bedrooms. With spacious homes and surroundings, the villas are exclusive in design, with unit sizes ranging from 6,777 – 15,563 sq ft and plot sizes ranging from 15,551 – 39,611 sq ft.

Dubai Marina Offering Riviera-style living in a sophisticated environment, Dubai Marina by Emaar Properties is one of the largest waterfront developments of its kind in the region. With a total development area of 50 million sq ft, Dubai Marina encompasses a large canal with 3.5 km of waterfront offering access to the sea from both ends. Frilling the canal are waterfront living apartments. Ideally positioned within a short


distance from the city’s centre, Dubai Marina’s waterfront atmosphere offers a refreshing standard of living for residents. The project features several high-rises with luxury apartments as well as villas set against the backdrop of a Marina. With yachts moored along the Marina and some of the city’s best dining, entertainment and leisure facilities, Dubai Marina is the first choice for the stylish and sophisticated. Dubai Marina comprises ten districts each developed as a distinct community. Several residential towers, hotels, shopping centres and leisure amenities complement the Marina experience that is highly sought after in Dubai. Dubai Marina Walk, which lines the waterfront, has a selection of cosmopolitan restaurants while the boardwalk serves as a link between the many towers in the development, the gardens and the Marina. Emaar has unveiled six luxurious projects at Dubai Marina – Al Majara, Al Sahab, Dubai Marina Towers, Marina Promenade, Marina Quays and Park Island. Three of them – Majara, Al Sahab and the Dubai Marina Towers – have been completed and the keys handed over to buyers. Dubai Marina’s latest three projects under construction include Marina Promenade, Marina Quays and Park Island. Marina Promenade is a premium residential enclave that evokes radiant splendor. Nestled within the panoramic confines of Dubai Marina, it overlooks the widest and most scenic part of the bay, comprising opulent apartments and villas. Situated amidst landscaped gardens and water features, Marina Quays boasts homes that overlook the Marina waters and are designed to allow waterfront views from almost every part of the exclusive apartment. Built amidst cascading and stepped water features, palm trees and terraced planting beds, Park Island offers a Marina lifestyle mixed with greenery of gardens and parks. A key component of Dubai Marina is the re-

cently launched 150,000 sq m Dubai Marina Mall complex which comprises a shopping and entertainment mall, the Dubai Marina Mall Hotel & Serviced Residences, Marina Plaza – an exclusive commercial tower, and an 8-storey tower dedicated to diverse cuisines. With calm waterways, Dubai Marina will have five Marinas featuring clean, modern berths that can handle over 500 vessels including powerboats of 20 ft to 100 ft and sailing boats of 30 ft length. The East Marina has an existing 200 berths for an exclusive range of vessels. The Dubai Marina Yacht clubhouse will open in late 2007 offering an array of marina-related services to members. The elegant clubhouse will feature restaurants, a marine retail shopping arcade, international yacht sale and broker offices, ships chandlery and nautical gifts store, yachting fashion boutique, charter office and boating school. Membership will be open to boat owners and other patrons.

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A modern boat repair facility is also scheduled to open in 2007. It will feature 50-tonne travel lift with 2 to 3-tonne jib cranes, wash down bay, drainage and settlement tanks, floating work berths, spray paint sheds and administration offices. Services offered include boat lifting and launching, wash down, antifouling, spray painting, boat building, fibre glass repairs, engine repairs, marine electrical repairs and marine fabrication and rigging.

Emirates Living Emirates Living is a referral point in Dubai’s freehold property market history, being the first of the city’s freehold initiatives, pioneered by Emaar. Introducing the concept of master-planned living environments to the UAE, Emaar’s Emirates Living captures the true essence of community living by showcasing residential, retail and leisure amenities under one umbrella. Emirates Living is an amalgamation of different living environments: Emirates Hills, The Greens, The Lakes, The Meadows, The Springs and The Views. While all these projects have highly individual traits that set them apart from the rest, they also share a commonality – they are world-class living environments that highlight the cosmopolitan lifestyle of Dubai. All have, as standard, 24hour professional security, pedestrian walkways, and the option of satellite and cable television including broadband Internet connectivity. Emirates Hills is among Dubai’s most prestigious master planned communities. Its well-appointed villas look out over the lush green fairways of The Montgomerie, an 18-hole Championship Golf Course, created by Desmond Muirhead and Colin Montgomerie. Emirates Hills features a harmonious balance of well-appointed villas, private neighbourhoods and lush landscaping, making it one of the most desirable residential communities in Dubai.

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A fine mix of mid-rise, high quality apartment blocks in beautifully landscaped settings makes The Greens one of Emaar’s most popular projects. Facilities include swimming pools, gymnasiums, children’s play areas and outdoor dining areas and a retail centre. The Lakes, a residential suburb built around a picturesque lake, offers spacious yet distinctive community living. It is surrounded by lush landscaping, community parks and some of the best leisure facilities in the city. The villas are situated between two world-class golf courses, The Montgomerie at Emirates Hills and Emirates Golf Course. The Meadows is a premium project offering luxurious double-storeyed villas of three to seven rooms, each surrounded by a garden and garage. Its ornate exterior finishes inspired by no less than 25 different architectural styles and spacious design, make for attractive family homes. The Springs is an innovative waterfront villa development built around scenic lakes and features a range of exquisite waterfront villas. It incorporates the finest architectural styles, picturesque landscaping and a unique community environment with many recreational options. The Views offers superb aspects of the Emirates Golf Club and a nearby lake. This exclusive project combines the best of Dubai with its world class golfing and easy access to five-star beach hotels and restaurants.


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Regulations strengthen market credibility

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he new Escrow Account Law has now given many developers a key differentiating factor, one that reassures property buyers of secure investments Peter Penhall, CEO, Gowealthy Holdings One of the main reasons why the escrow law found immediate favour with the major developments was the well-crafted and ‘democratic’ structure that saw the involvement of the various major developers, through consultations by the Dubai Government and Lands Department. Though the law has been put into immediate effect as of its Official Gazette on June 28, and the fact that the Real Estate Regulatory Authority (RERA) now has the authority to facilitate the positive transition to compliance, I anticipate this process will be supported by a number of Regulations that will need to be implemented before the law is totally comprehensive for both developers and investors. In essence the new laws taken with the anticipated regulations are seen by all serious industry players as just another great step forward for Dubai’s real estate industry as a whole. The initial gazette of the Escrow Law brings a further significant increase in the formalization of the industry, especially from the developers’ perspective. RERA’s first steps have already given investors a better sense of security through their no-nonsense approach. But as I mentioned earlier, there is still a way to go. RERA and the Dubai Land Department have begun regular forums with industry representatives to verify that every facet of the law in place goes hand-in-hand with regulations that will act as a ‘fail safe’ to ensure developers and other interested parties get the most out of the new law, whilst ensuring absolute compliance.. That said Article 18 of the law gives developers six months (by December 28, 2007) to meet the new structure in compliance with the aforementioned upcoming regulations. To help this process

Peter Penhall

along the current real estate survey being carried out by the Dubai Land Department will categorize each project by how far along it is in terms of development progress. For example, for developments that have not yet reached the shoring* stage, an escrow account will need to be opened straight away; but for those developments that are 70 to 80 per cent completed, the developer will not need to open one. Either way, buyers are assured at this moment that their investment is being put to its intended use. With this six month ‘grace period’ of sorts in place, those developers who elect not to implement the escrow account system for their project face a distinct disadvantage to those that have chosen or intend to choose compliance with this new law. The Escrow Account has now given many developers a key differentiating factor to the myriad of potential investors; a differentiating factor that offers the promise of investor security and most of all adds a large amount of credibility. Developers who have had the foresight to implement this immediately are already reaping the benefits of their decision. Another facet of the law that would require regulation is that of building plan approval. One of Dubai’s foremost advantages when it comes to property development is that of quick turn around for necessary approvals. This aspect of the law has the potential to slow this advantageous process down, but with the advantage of more secure and final property developments to compensate for it, it is believed that this is a trade-off investors would welcome. It is also important to note that the law will not only affect the developer but all the different levels

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in the chain of development – again, a good thing. This has the potential to compel those marketing these projects to literally have to ‘put their money where their mouth is’. The simple fact is that as per the escrow law, investor or purchaser capital can now only be used to actually develop the property, meaning that developer’s budgets will now have to be very carefully thought through. This in turn translates into more competitive and solid offers rather than just relying on marketing hype. What’s more, the investor’s funds are kept in a ‘project account’ rather than a ‘developer account’ thus guaranteeing the funds stay with the project under development rather than attaching to the developer who may otherwise be enticed to commit the funds to other uses. This poses a challenge for property broker companies because it presents a very important decision - whether or not to partner with those developers that have chosen not to implement the escrow law yet – clearly a decision that may well have a significantly negative effect on overall sales potential and

hence cast a doubt on that brokerages own market credentials. As I mentioned previously, we are on the verge of a new age for the property market in the UAE. We have already seen a property law on lands and individual dwellings, a Broker’s Law that regulates and licenses brokers, the new escrow law and with the upcoming Strata Law which will govern the rights of residential owners of the numerous apartments; we will see the culmination of a multi-faceted plan to develop a rock solid real estate sector for investors. Marwan Bin Ghalati, CEO of RERA, said it best when he explained their objectives were “to establish the foundation for a globally attractive real estate sector that satisfies and guarantees all stakeholders’ rights and expectations.” As professional brokers what we are beginning to see is the big picture now and we have to say, “we like what we see”! *A general term used in construction to describe the process of supporting a structure in order to prevent collapse so that construction can proceed

‘Invest your present for a safe future’

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araicar is a name with over 100 years of business proficiency in overseas trade. Maraicar RealEstate has maintained the same reputation for competence and integrity in serving clients - both investors and end users. With over 20 years of exposure and hands-on experience in the UAE, Maraicar RealEstate – founded by Mohamed S Marzook – has a committed team with strong expertise and professional knowledge, who can provide quality service in freehold buying/ selling of both residential and commercial properties. Over the years, the company has developed rapport with clientele across the globe. The client base spread over the CIS countries, UK, India, Sri Lanka, Pakistan, Africa etc is a major strength for the company. Till date, the company has purchased Dh2 billion worth of villas, apartments and commercial property with different developers. The investment with Emaar alone is to the tune of more than half a billion dirhams on behalf of various clients. This

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helped the company become Emaar’s Valued Registered Agent, registering another Dh500 million in a record period of around 7 months (2006) as against an annual target of Dh21 million. The company has been awarded by Emaar as the ‘Third Best Registered Agent for 2006’. It is also the Registered Agents for ETA Star, First Gulf Bank, Union Properties & Al Barari, and a member of Dubai Property Group (DPG). Maraicar RealEstate’s mission statement is: ‘Invest your Present for a Safe Future’.


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First developer to sign escrow payment protection

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ubai Dunes Properties is a specialized real estate and development company with a core focus on the Middle East region’s dynamic and vibrant real estate sector. Dubai Dunes Properties was established with a clear vision – ‘to develop and promote unique and integrated real estate projects that deliver exceptional value for homeowners and investors’. Looking back at the earlier days, the Chairman of Dubai Dunes Properties reflects on the critical task of assembling a reliable consortium of Architectural, Engineering, Construction and IT entities assigned to collectively co-ordinate, to develop the company’s current and future projects. The essential assignment then followed of sourcing an experienced and dedicated management and sales team for the company’s property development division and real estate brokerage division. In early April 2006, Dubai Dunes Properties launched their first project, Ma Maison, located in International City, which was sold in two months due to flexible payment plan options and competitive prices. Plans rapidly unfolded for their second residential project in late June 2006. “With a prime location overlooking the Dunes Golf Course in Dubai Sports City, Dunes Residence was launched with first-rate facilities, accompanied by long-term payment plan options and Escrow payment protection, ultimately attracting end-users and investors from all around the globe,” says Tina Koutroumanis, Manager of Dubai Dunes Properties. It is an interesting if little-known fact that Dubai Dunes Properties was the first property developer in Dubai to introduce an ESCROW secured payment scheme for buyers purchasing apartments in Dunes Residence. In a market that was largely unregulated during the early days, management at Dubai Dunes Properties recognized that clients were far more likely to invest with a developer that patently displayed the promise of security. “It is an honour to be recognized and awarded as the first property developer to initiate the Escrow payment protection scheme in Dubai,” says Direc-

tor of Dubai Dunes Properties, Mr. Javed Ayub. “Working closely alongside the Dubai Land Department to implement the Trust Account scheme, Dubai Dunes Properties will contribute to improve and regulate transactions between investors and property developers in Dubai. Furthermore, this could possibly be an insight into how the real estate industry, in both primary and secondary markets, will evolve in the future”, he adds. An expansive number of projects by Dubai Dunes Properties have been pipelined with the Escrow payment scheme, with focus concentrated on their new project in Jumeirah Village, which is anticipated to be launched after the holy month of Ramadan. Locally operated and registered, Dubai Dunes Properties prides itself in offering an ethical and professional approach towards real estate practice in Dubai. For friendly and professional investment advice in a welcoming atmosphere, make a worthwhile visit to their head-quarters, which is conveniently located before the first interchange on Sheikh Zayed Road in Dubai.

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A first with Trust Agent Agreement

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adr Al-Islami, the Islamic Banking Division of Mashreq, was the first financial institution to sign an agreement with Dubai Land Department governing trust account conditions for real estate developments. The agreement was signed on June 16, 2007. The trust account service will ensure that payments made by investors towards ‘off-plan’ property purchases are protected until residential units are registered in the buyer’s name. This means investor funds will only be used to complete the projects. This agreement comes as a response to Decree No. 8 issued by His Highness Sheikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai. What is Escrow Trust Account? Property developers across Dubai now have to hold a guarantee account with one of the financial institutions, of which Badr Al-Islami have signed an agreement with Dubai Land Department. Money paid by buyers or financiers towards properties will be deposited into a trust account with the institution of choice. Developers can then apply for the money to be released by the trust account manager by producing a certificate from a consultant certifying that the project has reached an agreed stage. This will act as a safeguard to ensure that the funds are released for the right purposes. How will it work? With this agreement, Badr Al-Islami will be committed to opening trust accounts for any developer after they submit a written authorization from the Land Department. Opening the trust account will include signing an official agreement between Badr Al-Islami and the developer. Each project will then have a separate account, even if there are multiple projects being developed by the same developer. The trust account will offer a host of tailor-made value added services to property developers. Developers will benefit from Badr Al-Islami’s expertise in managing their project receivables, offering guidance on completion of Lands Department formalities, account opening and balance management services, managing contracts and selling of residential units upon completion of the projects. Badr Al-Islami will send quarterly status reports that show all the incomes and disbursements on

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(Left) Mr Sultan Butti Bin Mijrin, Director General of Dubai Lands Department, shakes hands with Mubashar Khokhar (right), CEO of Badr Al-Islami, after the signing ceremony.

each trust account under its custody to the Land Department. It will also appoint an experienced in-house team of specialists to provide payments certificate verification services as per the Land Department requirements to overseeing the developments of the project on a regular basis to assist in its progress and compare it to the original plans. One of the security elements will be reserving 5 per cent of the total value of the project in the trust account for any major emergencies that may accrue to the project or developer. Who will benefit? The trust account regulation marks a new level of maturity and will protect investors or real estate developers, enhancing confidence in one of the fastest growing sectors in the UAE. The new agreement will ensure transparency and security for the investors in the real estate sector in Dubai. Badr Al Islami’s first client Al Manal Development’s new La Vista Residence project at Dubai Silicon Oasis was the first institution to open a property Trust Management Account with Badr Al-Islami. The Dh330 million La Vista Residence project comprises seven low-rise eightfloor apartment buildings offering a total of 832 residential units of studio, one and two bedroom apartments. Construction of La Vista Residence will start in October with completion due at the end of 2008.


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The largest provider of real estate finance in the UAE

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stablished in March 2004 and a public joint stock company since July 2006, Tamweel PJSC provides a wide range of real estate finance solutions backed by innovative Sharia-compliant products and unparalleled customer service. With offices in Dubai, Sharjah and Abu Dhabi, and 265 partners across the country, Tamweel is the largest provider of real estate finance in the UAE. With the vision to become the most respected leader in the region’s financial services industry, Tamweel has strived to maximize shareholder value and has become the first-choice mortgage provider in the UAE. The company has embarked upon an ambitious plan to expand international operations and recently established a presence in Saudi Arabia through a joint venture with Al Oula Real Estate. Tamweel offers innovative home financing solutions for real estate buyers and end-users based on Islamic home financing products such as Yusr and Soyoula. Yusr, the first-ever Sharia-compliant Adjustable Repayment Mortgage (ARM) option, enables customers to start with lower installments for a selected period in the initial years. When the Yusr period is over, the installments are adjusted to accommodate the partial installment deferral. Soyoula, another innovative home refinancing product, allows customers to convert the equity of their home into liquidity, providing them with the cash to finance their investments. The Pre-approval Finance Facility enables customers to get finance approved even before they actually identify a home while the Flexi Ijara offers easy installments for ready property at a flexible profit rate. With other attractive product offerings, such as Baiti, which allows UAE and GCC nationals to get finance up to Dh7 million to buy or build their own home, Tamweel clearly holds the key to financing your dream home. Tamweel values client confidentiality and offers

reliable and professional service through dedication and teamwork. Tamweel is a blend of financial stability and ethics, and a fusion of traditional values and a progressive outlook. The growing demand for Shariah-compliant real estate financing services and Tamweel’s dedication to developing innovative products and quality services will ensure the company’s sustained growth and strong performance in the years to come. Tamweel’s customer service team can be contacted between 8:30 AM to 5:30 PM from Sunday to Thursday on the toll free number 800TAMWEEL(8269335), and further information can be found on Tamweel’s website: Head Office-Deira Branch: Tel: +9714 294 4400; Fax: +9714 294 4331 Sheikh Zayed Road Branch: Tel: +9714 340 2489; Fax: +9714 347 4430 Sharjah Branch: Tel: +9716 575 1370; Fax: +9716 575 1371 Abu Dhabi Branch (Marina Mall): Tel: +9712 681 8252; Fax: +9712 681 8253

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Spectacular growth year after year

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aunched in 2002, with a capital of Dh20 million, DEYAAR has grown exponentially to become one of the largest real estate companies in the Middle East region with a capital of Dh5.78 billion after its IPO in May 2007. The IPO was the largest till date in the UAE and recorded massive oversubscription, with investors attracted by the track record and investment potential of the company. DEYAAR has recorded spectacular growth year after year in its net profits, rising from Dh5 million in 2003 to Dh73 million in 2004, and Dh140 million in 2005, followed by a remarkable Dh412 million in 2006. Though the company is relatively young, it has displayed stellar financial solidity and performance, year after year. The company is managed by a team of proven professionals, led by the Chairman, H.E Dr. Mohammed Khalfan Bin Kharbash, UAE’s Minister of State for Finance and Industry. Headquartered in Dubai, DEYAAR has evolved into a ‘complete real estate solutions’ provider with a leading presence across property development, property management and brokerage business.

Property Development : z In UAE, DEYAAR is one of the largest developers in Business Bay, apart from having various projects spread across Dubai Marina, Jumeirah Lake Towers, TECOM, IMPZ, Dubai Silicon Oasis, Waterfront, Al Reem Island – Abu Dhabi, and many other master plans. z Internationally, DEYAAR’s footprint spreads across landmark projects in Lebanon, Turkey and Kazakhastan, apart from a prominently located branch office in London, UK. There are also immediate plans to expand presence into Saudi Arabia, Qatar, India and other attractive markets.

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Al Seef1 (Dubai Marina)

Al Dana Tower (Sharjah Corniche)

Property and facilities Management: DEYAAR is the largest Property Manager in UAE with over 16,000 commercial and residential units across 900 buildings. With Rental revenues of over Dh 440 million, year after year the company is further consolidating its leading position, through innovative and attractive property management solutions for its clients.

Brokerage and leasing services: In a booming real estate market like UAE, DEYAAR offers its professional brokerage, leasing and advisory services to customers who are looking for leasing, buying or selling options.


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Emirates Advocates and Legal Consultants Established 1980

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mirates Advocates has a solid international network covering the GCC, Middle East and Europe as well as other corners of the world, and is a member of several private legal networks aiming to improve the quality of legal services provided to clients by combining their efforts, knowledge and resources. Emirates Advocates is able to provide effective, reliable, coordinated, and decisive legal advice to its clientele making it the first Law firm to win the Dubai Quality Appreciation Program in the year 2002 for having applied the criteria of excellence in its operation and we are recognized for our ability to adapt to the different business cultures. The firm was also granted an ISO Certification (ISO 9001:2000) in 2006 when it passed the criteria set forth by the UKAS Quality Management. The firm is a member of the International Chamber of Commerce (ICG), and the International Bar Association. Emirates Advocates offers highly professional and personally tailored services to its clients from diverse parts of the world, whether regional or international and from the virtually all industries. We believe that ‘justice delayed is justice denied’. With a team of more than 150 legal consultants and staff members, we ensure that each matter is attended Total number of partners: 9 Total number of associates : 150 Language spoken : English, Arabic, French, Hindi, Tagalog

to as quickly and decisively as possible. LOCATIONS: Our firm has grown over the years to cover the UAE jurisdiction providing our clients with prompt and accurate service, according to the business activity or nature of cases. Our offices are accessible and spread throughout the Emirates, in Dubai, Abu Dhabi, Jebel Ali, Ras Al Khaimah, Internet City and Sharjah. Our Head Office is situated in one of the prime landmarks of the UAE, and due to the great demand and the ever increasing commercial activities, we also have a substantial presence in the Free Zone areas, with offices located in Dubai Internet City amongst a variety of the largest information technology companies in the world and Jebel Ali Free Zone, the gateway to foreign investments and offshore services in the Middle-East. AREAS OF PRACTICE: The firm’s areas of practice are Litigation, Arbitration and Alternative Dispute Resolution, Corporate and Commercial Legal Services, Business Setup and Company Registration, Offshore and Free Zone Company Formation, Information Technology and E-commerce Laws, Banking and Finance, Insurance, Maritime Laws, Real Estate and Construction Laws, Medical Negligence, Drafting and Contract Reviews, Debt Collection, Legal Translation, Trademark and Patent Registration, Protection and Enforcement. 14th Floor, Emirates Towers Sheikh Zayed Road Dubai, UAE Tel : 971 4 3304343 Fax : 971 4 3303993 Email : contact@emiratesadvocates.com Website: www.emiratesadvocates.com Contact : Dr. Khalid Al Mehairi

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A great story of success

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s one of the leading multi-faceted groups in the region, the Sheffield Group success story is built on the unshakable foundation of quality, trust, integrity and innovation. Today, the Sheffield Group has achieved remarkable growth with a wide portfolio comprising of property development, time share, facility management, education, logistics and hospitality industry. With the help of visionary leadership, result-oriented management and a core team of highly experienced and committed team of professionals, the Sheffield Group is scaling new heights of excellence and progress. The driving force behind the Sheffield Group is Mr Abuali Malik Shroff, a successful entrepreneur, who established Sheffield Real Estate in 2003. His foresightedness and strategic planning enabled him to make all his business ventures a success story.

Sheffield Real Estate Envisioned by Sheffield Group four years ago, Sheffield Real Estate has solid reputation and the expertise to implement innovative strategies to maximize value for property investors and clients. With over 5 million sq.ft of property developments and plans for investing in excess of $300 million, Sheffield Real Estate is today one of the leading names in Dubai’s booming private real estate sector. Driven by the highest standards that spell class and quality, Sheffield Real Estate is truly a global real estate and freehold firm that offers luxurious and state-of-the-art residential and commercial developments. Sheffield also provides full service Property Management services for residential and commercial properties throughout the UAE, freeing property owners from the day-to-day management tasks. With professional portfolio managers and analysts covering the world’s investment markets, we also offer sophisticated property portfolio manage-

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ment. Sheffield Real Estate has launched the following prestigious projects: The exclusive Marina 101 – the ultimate in luxury, hotel & hotel apartments in Dubai Marina (hotel component managed by Intercontinental Hotel Group). Corporate Tower – freehold Commercial Offices at the Jumeirah Lakes Towers; Diamond Mall in Majan-Mizin; Marina Suites – at the Dubai Marina; Supreme Residency located at the Central Business District in International City; Universal Apartments located at Central Business District, International City; Classic Apartments located at Central Business District International City; Villas at Emirates Hills – a rich, cosmopolitan residential community; Our future projects include spectacular luxury waterfront 15-storey and 20-storey apartment towers that will overlook the upcoming Palm Jebel Ali and will offer spectacular sea views all day, a 51-storey luxury waterfront apartment tower that will delight residents with ultra luxury penthouse overlooking the Palm Jebel Ali, and a sensational 10-storey 5Star boutique hotel will boast its own private beach & spa.


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Helping survive in the property jungle

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nless you’re playing Monopoly, property is rarely a simple affair. Without the right help, finding the right property or selling your own property can be a real ordeal. Leading the way in Dubai’s real estate market for over 20 years, Better Homes has the best selection of property in the region; selling, leasing, and managing more properties than any other agency in the Gulf. So whether you are looking to buy, sell, rent, lease, or just need a place to live or a place to work – these are the guys you can trust to help. The company’s formula for success has been simple: better people, better ideas, and better properties. Employing the only certified property consultants in Dubai, the company continually strives to raise the market standard by implementing new initiatives to enhance its service. It has exclusive agreements with many of the world’s top developers, offering clients an unrivalled choice of distinguished and unique property. The company’s history can be dated to 1986, when a woman named Linda Mahoney, (the founder and present CEO) decided to venture into the world of real estate with the single aim to make people’s efforts of buying and selling property easier. In Linda’s words, “I believed in Better Homes because I felt that people were being put under unnecessary pressure and encountering an unfair amount of risk, when all they needed was someone who they could trust to give them the right information”. Understanding the importance of an open and honest relationship with clients, Linda went on to make

Better Homes a company renowned for its credible and personalised client service. From a one-woman business to an enterprise of over 400 professional staff, the company is now one of the most respected names in Middle East’s realty market. Today, like its client base, the company goes from strength to strength expanding into new international markets such as Europe, Asia, and the Middle East. Ryan Mahoney, Managing Director of Better Homes, sums it up when he says, “We want to be as good as our name and provide a property service that’s better than anything else out there.” And surely, the company has lived up to all its expectations till date. However, despite the phenomenal growth curves on its success charts year after year, Better Homes has never outgrown its mission to provide the most trustworthy and personalised service around. Its revolutionary and knockout property selection exposes you to a whole new world of intelligent investment and hallmark living. From Dubai to London to Mumbai, people are discovering a better and easier way to buy and sell property.

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Wealth of knowledge

herwoods Independent Property Consultants have been established for more than 20 years. Originally founded in the United Kingdom in 1988 by Iseeb Rehman, the company has expanded over the years to facilitate both existing and prospective clients within a growing and demanding market. Property, whether purchased for occupation or investment, is an asset that needs to be looked after. Sherwoods understands that. We endeavour to give our clients the best independent advice and enable them to benefit from our knowledge and expertise. We pride ourselves on our professional attitude to detail; these attributes have earned us the trust of our clients. Whilst building on the trust with our clients and partners, we also build on our locations. With offices currently in the UK, Dubai, Abu Dhabi, Doha and Bahrain, our global presence continues to expand with an aggressive future expansion programme, not only by location, but also within Sherwoods. Our dedicated multinational teams bring together a wealth of knowledge for both the local and international markets. Whether you are looking for a dream home or an investment in the UK, UAE, France, Spain, Morocco or Australia, through our extensive worldwide contacts, we can advise you on all the aspects of purchasing property, regardless of geology.

Our Services include: z z z z z z z

Search & Acquisition Mortgage & Remortgage Valuation & Appraisal Services Legal & Tax services Residential & Commercial Management Property Portfolio Management Insurance Services

Sherwoods Independent Property Consultants

Iseeb Rehman

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Sheikh. Zayed Road; Emarat Atrium, Suite G 20-21; P O Box 54227; Dubai, United Arab Emirates; Tel: +971 4 3438002; Fax: +971 4 3438004; Email: info@sherwoodsproperty.com; Website: www.sherwoodsproperty.com


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Passion for excellence

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Hydra Downtown Tower

Hydra Twin Tower s Hydra Tower

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ydra Properties is changing the landscape of the UAE. Its mission is to provide more than just properties as it delivers the latest concepts in state-of-the-art living. Driven by a passion for excellence, Hydra Properties will be the name behind some of the most prestigious residential and business developments in the UAE, whether in Dubai, Abu Dhabi or the other emirates. Some of the notable projects are located in Business Bay, Down Town Dubai, Jumeirah Village, and Al Reef in Abu Dhabi. Each of these projects is a landmark in its own right with all modern amenities and built to world standards with the objective of catering to a global audience. Hydra Properties has a comprehensive Customer Care Programme and will provide solutions through its proposed vast regional network with offices in the GCC, Europe, North Africa, North and South America, Asia and Russia. The company’s mission is to provide prospective clients with selective developments, focusing on every aspect of the purchase and its associated services, ensuring the best possible experience whilst maximizing the potential return. It is our aim to have investors work with us from one project to the next, growing their portfolio in conjunction with Hydra Properties. Our strategy has the following planks: z Keys to success z Creating a world class environment z Consistently providing quality in the design, planning and construction phases z Containing spiraling construction costs with effective use of resources z Consistently meeting all scheduled design, planning and construction deadlines The one factor that distinguishes Hydra Properties is the ability to look beyond what is, to see what might be. Its focus is always on excellence and enrichment, providing a better life for the community and better returns for investors. And the measure of success is the degree of customer satisfaction that is achieved; a concept that relies on the application of the following key principles: z The Location z The Theme z Facilities z Quality, Price and Delivery z Environment z Lifestyle z Service, brand and image z Participation Hydra Properties is inspired by the call to enrich the lives of the people and the company is poised to enter the next stage in a relentless pursuit of excellence that started over half a century ago

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Sobha outlines ambitious Middle East plans India’s leading property developer makes debut in Dubai

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obha Group is embarking on a period of rapid expansion in the Middle East, as the company aims to bring its quality driven construction excellence to a host of developments in Dubai and across the region. The $2 billion Sobha Group, with extensive interests in real estate development, civil and MEP contracting, factories for aluminium, façade glazing, joinery and concrete products etc., has been the driving force behind many of India’s leading residential and commercial developments in recent years. In India alone, the company has developed over 10 million sq.ft of quality real estate, with a team of over 25,000 people. The Sobha portfolio includes such prestigious landmark constructions as Kerala’s first integrated township Sobha City in Thrissur and the Sobha Lifestyle Presidential Villas in Devanahalli. The company has also been behind the development of the many Infosys offices and commercial buildings, including the pyramid-shaped Infosys Studio in Bangalore. Sobha Group has had a presence in the Middle East since the 1970s, when company Chairman PNC Menon established the Services & Trade Group in Oman, specialising in interiors outfitting and as a contractor for other developers in the region. The company has been a part of some of the most prestigious palaces, mosques and five-star hotels in the Arabian Gulf. Today, Sobha Group also has operations in Doha, Dubai, Bahrain, Germany and the USA. Sobha (Indeset) UAE has been behind the implementation of a number of unique interiors, including Sphinx Restaurant and the Pyramids Health Club at the prestigious Wafi Centre. Now, Sobha Group intends to tap into the burgeoning Middle East real estate market, with its own commercial and residential properties. “We have had a presence in the Middle East market for years, with interiors operations in Qatar and Dubai. But now the time is right to push forward with our real estate expansion plans for this region,” said Ajay Rajendran, Vice Chairman, Sobha Real Estate LLC.

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Already, Sobha Group has tasted success in Dubai. The company has two commercial projects under development within the high-status Business Bay district, both of which are already sold out. The two commercial towers, Ivory I and Ivory II at Business Bay are mirror images of each other, creating yet another unique Sobha landmark. Each tower offers 15 storeys of high-tech office space with world-class construction, stylish design, optimum space usage, ultra-modern amenities, high speed connectivity and retail space. The Sobha name is known for luxury, quality and creating a lifestyle. We will bring the same standards of quality and on time completion to our developments in Dubai and the Middle East,” he added. The Sobha Group expects to have announced a portfolio of over Dh2 billion by the middle of 2008, which will include another development in Business Bay, some waterfront properties as well as developments on the Palm Jebel Ali.


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Elevating standards to a new level

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chön Properties is a newly established company that has several real estate projects in the UAE, including Dubai Lagoon, a residential apartment community located in Dubai Investments Park, and Schön Business Park, a state-of-theart office development. Schön Properties comes under the Schön Group umbrella, bringing 30 years of heritage and successful business operations to their name. With their unique combination of experience, expertise, innovation and vitality, Schön Properties has always striven to bring standards to a new level of excellence in all their projects. The company has a vision to build a regional property brand which will be recognized and respected for delivering world class customer service, providing sustainable value while being environmentally sensitive, as well as offering the best value for money to all their customers, partners and shareholders. Having already launched two real estate projects in a short time span, Schön Properties is all set to expand their horizons and provide solutions for quality real estate development in the region. Danial Husain, Vice-President of Schön Properties, stated, “Being one of the largest private developments in the UAE, we have always led the market with unique concepts. As per our surveys, the main attraction for our projects has been the revolutionary financing plan which we offer. For Dubai Lagoon we are offering a 7-year financing option allowing purchasers to pay, 60 per cent over the construction period and the balance over 60 months, in quarterly instalments - all at 0% interest. The best part of Dubai Lagoon is that the balance is paid after possession of the apartment, making the purchase even more affordable for customers.” Dubai Lagoon, their first project, is a Dh3 billion development, incorporating contemporary-styled

residential apartments, centred around a crystal clear sapphire lagoon; the key feature of the project. Located in Dubai Investments Park, the apartment community will span an area of over 6 million sq.ft, comprising 53 buildings, consisting of studios 1, 2, and 3 bedroom and penthouse, along with onsite amenities. One of the major attractions of this community is that each home will have water front views of the lagoon. On-site amenities include a mosque, supermarket, shops, laundry, restaurants, cafes, swimming pools, health club and gymnasium, tennis courts, children’s nursery, healthcare facilities, and play areas. To complement Dubai Lagoon, as well as provide a solution for a flexible, location-conscious and cost-effective office space, their second project, Schön Business Park, is a $200 million state-ofthe-art office development, also located in Dubai Investments Park. The ground plus three development will comprise 410 offices, accommodating up to 4,000 employees. Located just 5 km from the Jebel Ali International Airport in Dubai Investments Park (DIP), the development spans a built-up area of 1.1 million sq.ft and provides state-of-the art offices for corporations waiting to relocate near Jebel Ali Free Zone. Danial added, “Our extensive market research revealed that Dubai Investments Park and the Jebel Ali Free Zone Area face a major shortage of office space, and a lot of companies are keen on moving offices to New Dubai. Hence, we chose Dubai Investments Park as the location for the project due to its unparalleled demand and its proximity to Dubai World Central and the Jebel Ali Free Zone. In addition to other unique features, the business park is also fitted with three skylights since natural light is one of the core elements in all our development guidelines.”

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Redefining Dubai Mr Robin Lohmann

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nthused by a dream, Dubai embarked on a journey which transformed it from a deserted land in Arabian Gulf to the blooming metropolis that it today. Dubai’s success has been built upon its aptitude to hug diverse business classes and promote innovations, turning it in to one of the Middle East’s most successful stories: a progressive 21st century city and world class business destination. Dubai provides a lot of freedom, leisure, peace and security attracting business and firms from all around the world. Burj Al Arab is often shown as the seal of Dubai, which served as a powerful marketing tool. Even though infrastructure has been facing problems in such aggressive growth and prosperity, Dubai is expected to overcome all these problems with its new initiatives like metro rail system, interchanges and the proposed road and waterway projects. ACI or Alternative Capital Invest is a German company which arrived in Dubai in 2004. The company soon realized the potential of local real estate market in Dubai. From a well regulated market like Germany, the evolution in Dubai was not that easy for ACI. But its straight forward approach adapted local conditions while implementing strong ethical business practises here. ACI expanded its operations in real estate development and the father and son team of Mr Uwe Lohmann (Sr) and Mr Robin Lohmann (Jr) have opened office in Dubai. They spend more time in Dubai while expanding the staff in Dubai and Germany so as to increase the comfort of the customers. Mr Robin Lohmann, Managing Director of ACI, has provided the insight on the properties that ACI is developing. According to him, ACI focuses on premium locations that have attracted substantial international investment. ACI is the first property developer in Germany to give a chance to the German investors to invest in Dubai. The company started with Dubai Star, a mixed-use high-rise building in Jumeirah Lake Towers (JLT). ACI has visualized the potential demand for mixed-use developments (commercial and resi-

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dential), which was available in JLT and for this reason Dubai Star is doing well. Moreover, all the buildings in JLT will be ready at the same time as mandated by the master developer DMCCA. The decision by ACI to choose Business Bay for Q Sami Tower has been very successful, with the project evoking great interest from investors due to its strategic location next to the main artery of the city and is invaluable as access to these buildings will be easier. City of Arabia is a golden feather in ACI cap as it will feature the biggest mall in the world. The facilities in City of Arabia include its own mono-rail system, which will be connected to the metro system of Dubai, rich entertainment facilities and a huge distance between the buildings, a unique feature providing greater privacy to the end users. ACI represents a combination of investment and development as it comes from an investment background where opening and closing of trades are very important. So it is an important principle that once a project is started, it has to be finished satisfactorily. The strategy in this regard is to hire top firms to manage the projects while employing in-house engineers to oversee and supervise the whole project. For the full control over ACI projects, including sales, the company last year launched ACI Real Estate in Dubai. In the initial phase, ACI had to take great pains to explain the Dubai’s story to investors back in Germany as they were not aware of the drastic changes happening here. But when ACI showed them the reality, they were deeply impressed. Last year ACI built up over 4,000 customers. Most of the ACI fund investors are now German-speaking Europeans. On the real estate side, ACI’s Dubai pickings have an international mix. The investors are seeing their investment going well, and Dubai’s reputation is constantly growing. ACI identifies itself with the projects it is developing and it strictly follows the German standard. Location is always a priority as ACI keeps the interests of the end users in sight.


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A leader in Dubai’s commercial realty

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l Fajer Properties is one of the leading realty developers in Dubai and has made an enduring mark in Dubai’s commercial realty space with its prestigious and world’s first five-star office chain, the Jumeirah Business Centre Towers. Jumeirah Business Centre Towers, situated within the Dubai Multi Commodity Centre, Jumeirah Lakes Towers, comprises five towers and the brand is poised to be expanded further to nine towers within the same location. Al Fajer Properties is a member of Al Fajer Enterprises, established in Dubai in 1965 by its Group President His Highness Sheikh Hasher Bin Maktoum Al Maktoum. By virtue of being part of a large group with over 40 years of expertise and local market knowledge in the real estate and construction industry, Al Fajer Properties is armed with a rare heraldry of advantage. The foresight, eye for detail and business acumen of Al Fajer Properties are nurtured by Al Fajer Enterprises, which has a successful multi-stream business, spanning construction, property maintenance and management, international fairs and exhibitions, manufacturing plants, travel tourism and cargo, pharmaceuticals, general trading, investment and development. Over the decades, the Group, which has over 12,000-strong employees, has delivered high quality service to a wide range of clients. Al Ahmadiah Contracting being part of the Group, has built some of the landmarks in Dubai such as the Murooj Complex, Al Moosa Tower, Jumeirah Hilton Hotel, Al Owais Tower & JBR to mention a few. The Group’s craftsmanship has also been proven with the construction of themed projects such as Ibn Battuta Mall courts and the Wild Wadi. It is now working on the upcoming Dubai Mall Gold Souq. Another Group joint venture is Al Ahmadiah Aktor, which undertakes both local and international projects, such as the Dubai Healthcare City and the Olympic Stadium in Greece. Jumeirah Business Centre Towers is a unique investment proposition – it is functional, yet elegant, classy and a prestigious business district address to be proud of for businesses. For instance, no other

commercial realty development in Dubai could boast a spacious grand lobby environment which contributes to the grandeur of the property. The grand lobby environment coupled with an atrium rising up to five floors delivers a very tangible and conducive sense of space. In JBC Towers, the functional attributes are to the fore, which is an imperative to attract new-age businesses. JBC Towers has an unmatched functional dimension to it – for instance, an entire floor is allocated for serviced boardrooms while another floor is dedicated exclusively for health and beauty care etc. JBC Towers is fitted with unique state-of-the-art facilities and the development cumulatively offers prime office space totaling 2 million square feet and an additional 100,000 square feet as retail area. The development offers flexible office units ranging from 800 square feet to 11,000 square feet. Al Fajer Properties has also tied up with Abu Dhabi Commercial Bank (ADCB) to offer investors up to 60 per cent pre approved finance. Under the new scheme, investors who are either a commercial entity or an individual with a business in UAE can acquire freehold offices in Jumeirah Business Centre by paying just 30 per cent of property value in installments during the construction period and 10 per cent on completion of building while the rest will be financed by ADCB after they move into the property. JBC Towers is the flagship brand of Al Fajer Properties and the company is mulling to foray into residential and hospitality sectors soon as part of a strategic diversification.

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Award winner receives further global recognition

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eveloping a Dh6 billion portfolio of worldclass property developments in only four years is a significant achievement for any company, but it doesn’t stop there for Cayan Investment & Development. The Dubai-based company has recently been selected as a founding member of the ‘New Champions’ group set up by the Switzerland-based World Economic Forum. The ‘New Champions’ group includes only 125 Global Growth Company entities worldwide. Global Growth Companies are businesses that have demonstrated a clear potential to become leaders in the global economy, based on such factors as a company’s business model, growth record, leadership and the markets it serves. Recognised as a property developer that does things differently, Cayan took out the award for ‘best architecture’ at the International Property Awards in London last year for its distinctive Infinity Tower at Dubai Marina; as well as regional property awards for the project, such as ‘best development in Dubai’, ‘best developer website’ and ‘best multi-unit architecture’. Infinity Tower will be the only 90-degree twisting tower in the world when completed in 2009. Cayan has recently extended its presence in Dubai Marina with the launch of Silverene Towers, a Dh700 million residential project at a prime location in the marina. It is due for completion in June 2010. Designed by Hazel Wong, architect of the iconic Emirates Towers on Sheikh Zayed Road, Silverene Towers is the third project she has designed for Cayan, the other two being The Jewels (Dubai Marina) and Lamar (Jeddah, Saudi Arabia).

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Lamar: A twin tower project in Jeddah, Saudi Arabia, taking luxury to a whole new level

The Jewels: This luxurious twin tower development is designed by the renowned Hazel Wong

Infinity: The world’s only 90-degree twisting tower when completed in 2009.

Silverene: Dh700 million residential project at Dubai Marina


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Originality of approach “Grosvenor Real Estate has been established with the primary objective of servicing the interests of investors by offering them a perfect investment opportunity.” Established as a brokerage by a team of young and vibrant British nationals with a combined experience of over twenty years, Grosvenor has managed to penetrate and successfully capture a substantial share from an aggressive market where professionalism, personalized customer service, duty of care and after sales service are in most instances, sadly amiss. Original in its approach, our multi-lingual staff offer a refreshingly professional service and cater for the specific and personal needs of the individual client. Investors are invited and given a personal tour of the region with a follow up debriefing in the conveniently located offices at Sheikh Zayed Road. “Our key focus is on market research, to identify key acquisitions that offer exceptionally good returns. Careful monitoring of these projects during development is essential to give our clients the confidence that their investment is continuously being evaluated for changes in market conditions,” says

Mr Mohammed Shabaz, Executive Director. Strategic resale plans have ensured that our investors have seen the fruits of their investments at the most opportune time. “Our strategy and track record has received applause from our investors and has added credibility to our reputation as we further grow our portfolio to include our presence in the UK, Morocco, Malaysia, Cyprus, Thailand and South Africa,” says Mr Quammer Ali, CEO. An agreement has been concluded on a joint venture with a Malaysian developer, Crest World Wide Resources, with an aim to construct two inter-connected towers on a single podium: A mixed-use development in the heart of Kuala Lumpur City Centre (KLCC), with magnificent views of the Petronas Towers and the KLCC skyline. Construction on this project has already started and is due for completion mid 2010. Timely investment into this project saw a 15 per cent equity increase over a period of 2 months, with the potential of a 3-digit return upon completion. Negotiations with land owners and officials in Tangiers, Capetown and Nicosia are underway, and Grosvenor hopes to secure significant and prime areas of land, with the intention of developing their own residential and commercial projects in the very near future.

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Portfolio of distinct projects

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emon Investments is poised to further its position in the property market by offering the entire gamut of property-related services to regional and international markets. The leading Dubai-based developer is the property development arm of the international business conglomerate, the Memon Group of Companies, and has leveraged the group’s real estate experience of over 28 years by creating 30,000 units across the globe. It has a presence in 90 countries spread across the Middle East, Asia, Africa and Europe. Memon Investments has built a portfolio of property projects that are distinct in design, location and technology in addition to timely delivery and innovative payment schemes. With its core competencies on acquisition, design, development, consultancy, leasing and management of properties, Memon Investments is set to continue on the path of innovation. The developer’s highly skilled team is capable of developing world-class properties and meeting property demands including leasing, managing and providing expert inputs on property investments and industry trends. Its dedicated marketing and customer service teams ensure that investors and end-users are able to convey their preferences and access accurate information. Memon Investments recently attained ISO 9001:2000 certification for its key processes such as project management, design, business development, sales, marketing, customer relationship and facilities management. The certification carries the developer’s assurance of world-class property projects and related serv-

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ices to investors and end-users. The company’s residential property portfolio in the UAE includes Champions Towers I and II in Dubai Sports City, which were both sold out within weeks of their launch last year and was recently followed by Champions Tower III. Valued at Dh145 million, Champions Tower III is the largest in the Champions Towers series yet, providing a choice of 256 studio, one-bedroom and two-bedroom apartments and access to 5-star hotel services such as concierge and valet parking, in-house maintenance team and 24-hour manned security. Champions Tower III is part of the developer’s Dh1 billion investment plan in the UAE that leverages the success of its Champions Towers projects. Its inaugural commercial property venture, the Cambridge Business Centre, was launched in May 2007 and has sold out all units. Located within Dubai Silicon Oasis, the Dh80 million development offers 108 offices that utilise keyless entry, mood lighting, Wi-Fi and hi-speed broadband Internet connectivity. The keen interest for its projects from investors worldwide has given the company impetus for aggressive expansion plans. Memon Investments is set to boost its present multi-million residential and commercial property portfolio with a project lineup that will serve the commercial, residential and mixed-use properties of a booming economy. Memon Investments has proved to be capable in creating properties that go beyond traditional approaches, creating a positive impact for its stakeholders.


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A New Season of Living

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easons Community: Unique yet inseparable from one another

Nature bestows us with the joy of four distinct seasons. Each lends its own beauty, often conflicting yet harmoniously coexisting and eagerly awaiting the arrival of the other. Seeking inspiration from nature where four distinct experiences, each magnified with their characteristic charm and beauty, our Seasons Community was thus born. At Seasons Community one experiences a lifestyle of affordability and opulence. Combined with tasteful designs and modern amenities in a harmonious atmosphere, the Seasons Community perfectly meets your needs. Jumeirah Village: Making life convenient A self-sustained neighbourhood, Jumeirah Village, encircled by Al Khail, Al Barsha and Emirates Road, features community centres, retail avenues and an array of amenities. At the heart of this New Dubai, in District 15 on Al Khail Road, close to the main entrance of Jumeirah Village, lies The Seasons Community. The project is not just at the ideal location but also the first residential community in Jumeirah Village. So come, live amidst the splendour of designed landscapes and a central park; stroll though water canals; enjoy the convenience of a monorail – everything right at your doorstep. The Seasons: A new way of living The Seasons Community consists of four lowrise clusters reflecting the four seasons of nature through its scrupulous selection of colours. It consists of 1,400 units, four and five bedroom Townhouses, one and two bedroom Garden Apartments and Apartments. Townhouses Townhouses, G+2 with four and five bedrooms, offer the luxury of spacious living in the heart of New Dubai. With a private garage for two cars, landscaped garden and a large living space, the Townhouses offer ample privacy while being part of an extended neighbourhood. Apart from spacious dining and kitchen, the homes have a utility and maid’s room on the ground floor, large ensuite bedrooms with spacious balcony on both floors and a terraced garden on the rooftop. Garden Apartments: Spacious living acquires a new meaning with the Garden Apartments. Residences have the unique advantage of a private expansive garden, an ideal

gateway from the grind of daily life. The Garden Apartments come in two types – one-bedroom and two-bedrooms with large living and dining area along with ensuite bedrooms. They also have a convenient and spacious entrance lobby with covered car parking. Apartments The one and two-bedroom apartments are perfect for nuclear families and feature a large living and dining space. They are available in various sizes – one-bedroom and one-bedroom large, two-bedroom and two-bedroom large. The apartments open to a spacious balcony, adding freshness to your living. Apart from covered car parking for all apartments, the two-bedroom large apartments have a maid’s room also. The Lifestyle: Tranquil yet cosmopolitan Seasons unveils a new lifestyle, where modern luxury meets with tranquil nature. Enjoy the best of retail, dining and entertainment alongside the immaculately-pruned landscapes. This apart, nextdoor-amenities like hospitals, schools, police station, malls and commercial hubs are strategically connected with a four-lane super highway and the up-coming Dubai Metro. z Amenities & Facilities z Restaurants & Cafes z Landscaped gardens z Gymnasiums z Swimming pools z Spa z Round-the-clock security z Children’s play area Seasons Community: Your get-away from the city, in the city!

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Largest luxury focused private sector master developer in the Middle East

AMAC Properties, part of DAMAC Holding, is the largest private sector master developer in the Middle East. DAMAC has grown from a local catering company to a global conglomerate with operations in over 18 countries. Today, DAMAC Holding with over 7000 employees, ranks amongst the largest business groups in the UAE - a name to reckon with in real estate, hospitality, industrial projects, investments, logistics and commercial trading and is expanding rapidly into North Africa, Jordan, Lebanon, Qatar and the Far East. Award-winning luxury in UAE, the tallest residential building in Jordan, celebrity living in Lebanon, the high life in Qatar, the biggest master development in Egypt, opulent living in Saudi Arabia and an ISO 9001:2000 certified company - DAMAC Properties is the largest private master developer in the Middle-East and part of DAMAC Holding, the multi-billion dollar conglomerate. The company has over 450 million sq. ft. of marinas, golf courses, 5-star hotels, adventure parks, beach resorts, townhouses, villas, malls, penthouses, hi-rises, offices and retail space. The finest luxury lifestyles are also proven successful investments. By partnering with world-renowned architects and designers, DAMAC Properties aims to develop schemes that include waterfront luxury projects, residential, commercial and leisure facilities that will create an integrated community. DAMAC entered Egypt with the launch of its 320 million sq. ft., Gamsha Bay project – the largest development in the region. The agreement was signed during the Arab Strategy Forum 2006 in the presence of the Prime Minister of Egypt, Mr. Ahmed Nazif. Gamsha Bay will be the region’s largest township, located at the north of Hurghada, and will offer residents a wide array of housing options, entertainment venues and recreational amenities including an innovative extreme sports adventure theme park. This project is worth over $16 billion. Last year, DAMAC unveiled an exquisite project in Lebanon, “La Residence by Ivana Trump,” a $150 million real estate venture in the world-renowned Beirut City Center. The company also launched a $3.5 billion exquisite mixed-use project within Trumpet Bay region located in the Tanggu District, Tianjin, People’s Republic of China, as well as a $400 million 14-building spectacular real estate venture within Lusail’s Fox Hills community in Doha.

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Furthermore, DAMAC Properties recently launched its fourth project – ‘Business Heights’, a 20-storey commercial tower in Jordan’s Abdali master planned development. The company is the first to launch a commercial tower in the Abdali area. DAMAC was also the first to introduce a residential project with the launch of ‘The Heights’, a 35-storey Tower. Business Heights is located along Naboulsi Street and at Naboulsi Gate; this is one of the best sites within the Abdali area. Located in the heart of Amman, Abdali is a prestigious $1.5 billion mixed-use development featuring several districts. One of Jordan’s largest and most ambitious ventures, it offers a unique opportunity to build a new downtown for a vibrant city, with a carefully crafted plan featuring more than 3.5 million square feet of construction in the heart of Amman’s downtown area. In addition to support services provided by its Dubai headquarters, the company’s comprehensive Customer Care Programme provides solutions through its vast regional network with offices in the UK (London, Manchester), Ireland, UAE, Iran, Russia, Italy, Jordan, Saudi Arabia, Lebanon, Egypt and Qatar. DAMAC Properties won three prestigious awards for its projects in the UAE at the Arabian Property Awards 2006. The property developer bagged the best development award for ‘Oceanscape’, best architecture award for ‘Ocean Heights 2’ and the best website award for the company’s website. In December 2006, the company also won the IREF ME award for the best residential development in the UAE. In 2005, the luxury property company was honored with three prestigious Bentley International Awards in the categories of - Best UAE Development for Marina Terrace, Best Architecture for Ocean Heights-I and Best Developer website (www. damacproperties.com) at a ceremony in London.


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Innovative investment opportunities

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TA Star Property Developers LLC, a part of ETA–Ascon conglomerate, was established in 2004 as the property development arm of the group. ETA Star is currently developing over 30 million square feet in countries across the Middle East and South-East Asia, including UAE, India, Sri Lanka, Pakistan and Turkey. All ETA Star Property projects have unique design features, high quality finish and world-class amenities. In the UAE, the company has successfully launched projects close to 10 million sq ft in various master development communities like Dubai Marina, Jumeirah Lake Towers, Dubai International Financial Centre, Business Bay and International Media Production Zone. ETA Star’s portfolio includes pioneering projects such as 23 Marina, Al Manara, Liberty House, Gold Crest Executive, The Palm Jumeriah Residence and Spa and Grandeur Residences, The Summit, Pearl Residence, The Belvedere and Gold Crest ViewsSome of ETA Star properties in the UAE are:

The Belvedere Located at Dubai Marina, the Belvedere is the world’s largest master planned waterfront complex. It is a six-storey, fully residential development that offers amazing views of the 3.5 km long manmade marina. The apartments are luxurious and modern: one, two and three bedroom apartments.

The Palladium The Palladium, located at the heart of the Jumeirah Lake Towers, is a distinctive lifestyle project designed to provide charm and sophistication. The Project is an ultra modern high-rise apartment complex, 34-storey high and spans over half a million square feet of built-up area.

Goldcrest Executive A waterfront project located in the Jumeirah Lake Towers, Goldcrest Executive is strategically located from key business hubs like DIC, DMC, Knowledge Village and Jebel Ali. The 39 storey structure holds offices till the 19th floor .

Goldcrest Views-2

The four majestic residential towers of Goldcrest Dreams are being built on the newest mixed use

development on the Emirates highway, Ajman. The 39-storey high tower with 439 apartments offers a spectacular lakeside and island view from the apartments, on all levels.

23 Marina A grand tribute to the glory of Dubai, 23 Marina is an exclusive and elegant 90 storey high magnificent structure. It will home occupants in two and three bedroom apartments and duplexes designed to the highest level of quality.

Liberty House Liberty House, located in the Dubai International Financial Centre. Rising to 160 meters, the development consists of ten floors of offices, and twenty-six floors of residential apartments which include studios, duplex studios, one and two bedroom apartments as well as one and two bedroom duplexes. Leisure and activity requirements

Al Manara Al Manara, located Business Bay on the banks of the new creek, comprises of 31 top-class office and commercial complex. The other salient features will include a fully serviced business centre, conference /auditorium facility and a leisure deck combining the facility of a health spa and swimming pool to unwind.

Starhill Towers & Gallery Starhill Towers & Gallery is a unique business edifice at Business Bay that offers more than just freehold offices. A mixed-use project comprising spectacular twin-towers, its outstanding business amenities are embellished with myriad leisure offerings.

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Union Properties: Creators of iconic landmarks

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nion Properties PJSC (UP), one of UAE’s leading property investment developers, started as Union Property Private Limited in 1987 and floated as a public limited company in 1993. UP delivers superior and comprehensive range of developments with a project portfolio of some of the most unique landmark commercial, residential and leisure developments in the country, acknowledged internationally. Celebrating ‘20 Years’ of growth, innovation, motivation and attention to detail, UP started out with a vision strongly focused on creating a portfolio of excellence, the goal was to make a difference with a unique approach, by going beyond the norm. And that is what was achieved over the last two decades. In synergy with Dubai, the company has grown and contributed to growth, changing the city’s skyline with innovative residential and commercial projects that reflect their passion for quality, dedication to excellence and attention to detail. Today, UP is recognised as trusted developers, responsible for some of Dubai’s finest properties and creators of some of the best investment opportunities. As part of the Emirates Bank Group, UP has the solid support of a leading financial institution, an outstanding reputation for professionalism and integrity throughout the UAE serving public institutions, multinational corporations, the business community and the private sector. UP’s success is based on six fundamental principles that form the foundation of its ethical code. Quality, service, innovation, care, trust and diversity are embedded in every venture it undertakes. Irrefutably, what distinguishes UP is its attention to detail, dedication to perfection, and its ability to offer unsurpassed creative, technical and managerial expertise, ensuring an enhanced quality of working, living, or leisure for all those who interact with UP. UP’s comprehensive range of services include properties investment and development, project management, interior design and fit-out, property management, facilities management and MEP contracting tailored to specific needs through its business associates and subsidiary companies. UP’s subsidiary companies include Dubai Autodrome, The FITOUT, Edara, ServeU, Thermo, GMAMCO, Nautilus and EMICOOL and associates consist of Regus, Marriot Executive Apartments and Court-

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yard by Marriott. In 1987, UP net assets were worth Dh1 million and in 2006 the company represented an annual turnover of more than Dh2.5 billion, with net assets of more than Dh4.5 billion and projects under construction worth Dh13 billion and still growing rapidly. With over 24 projects, the company has created a portfolio of iconic landmarks in commercial, residential and leisure developments, from high-rise towers to multi-use complexes, hotels and theme parks. Index, Limestone House, MotorCity, Green Community, UPTOWN Mirdiff, Net.community and The Tower are but some of the renowned UP developments. Union Properties has a dedicated focus on growth at a global level. The company has strategically branded their developments in UAE to generate local and international recognition as well as brand awareness for their projects. With international professionals working alongside architects, engineers, planners and consultants, Union Properties aims to identify and invest in the business opportunities beyond the UAE. Currently, the company has signed an international agreement with Formula One Administration (FOA) to develop F1 Theme Parks worldwide. The success of UP’s vision is clearly reflected in the company’s steady growth and has been accomplished by the commitment and loyal support of over 17,000 employees in all fields; managerial, administrative, legal, engineering, architectural, consultancy, finance, investment, interior design, marketing, fitness and skilled labourers.


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Experience of over 125 developments z Estimated Completion: Second Quarter 2009 z 182 Apartments with Retail on the Ground Floor

Siraj Tower

A

l Madar is a well-established Qatar-based property development company with over 15 years of experience in the business, having completed over 125 developments including villas, hotels, commercial office towers and residential towers.

Scala Tower Scala Tower is a residential building, centrally positioned on the new Business Bay Creek with imposing views over the Lake and on to the Burj Dubai, which towers over the Business District and forthcoming largest Mall in the world: the Dubai Mall z Located right on the Business Bay Creek z Looking over the Business Bay Lake and Landscape garden to the rear z Modern architectural design and finish z Swimming pool and Health Club on the roof z Free parking with each apartment z Freehold ownership

Siraj Tower is the latest of the residential buildings developed by Al Madar group. Positioned at the heart of Arjan in Dubailand, Siraj Tower has been designed to offer the most exacting standards in construction. Designed with elements of Roman and Spanish Architecture, Siraj Tower combines a comfortable lifestyle with business and leisure emphasized by the Swimming Pool, Jacuzzi, Saunas and Gymnasium in the roof deck. Arjan occupies a superb location within Dubailand ensuring that nothing is too far away. It is well connected by major arterial roads to the rest of Dubai, including Jebel Ali Airport, free zones, Golf Clubs, such as the Emirates and the Montgomerie, and superb shopping in the Mall of the Emirates and Ibn Battuta Mall.

Features of Siraj Tower z z z z z z z

One of the tallest residential towers in Arjan Modern architectural design and finish Easy access to Emirates Road Free parking with each apartment Estimated completion: End 2009 Freehold ownership Retail space and an impressive reception lobby on the ground floor

Future developments coming soon A Residential building in the centre of Arjan z Easy access to Emirates Road z Large swimming pool in the courtyard z Free parking with each apartment z Estimated completion: Early 2010 z Freehold ownership

A Commercial Tower in Liwan z z z z

Easy access to Emirates Road Free parking with every office Freehold ownership Estimated completion: 2010

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Boutique developer

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ounded 12 years ago under the name IB Wohnbau in Germany, the company shifted its global headquarters to Dubai on 1 January 2006 and was later renamed Bavaria Gulf Real Estate. A boutique real estate developer, Bavaria Gulf is focused on low and mid-rise developments providing a range of home solutions, from apartments and condominiums to villas and gated communities. In Germany, the company has already developed over 1,000 quality residential units in the Rhein-Main area and recorded a consistent and significant 30 per cent annual growth rate. In the UAE, Bavaria Gulf is focused on bringing, to the advantage of every home-seeker, a new dimension to the rapidly expanding real estate market through an unflinching promise of precision, technology and quality driven end-user oriented home design. Further validating this focus and as it has already done in Germany, Bavaria Gulf has committed to getting every unit developed by it certified by one of the most trusted independent quality evaluators in the world ‘TUeV’. Bavaria Gulf envisions creating one of the most ideal living environments in the Gulf through its prestigious Sandoval project, which is set for com-

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pletion in 2009 and has been declared by master developers Nakheel as one of the top ten outstanding projects in the entire Jumeirah Village. Situated at a premium location in Jumeirah Village, Sandoval features 36 townhouses and 260 apartments over 400,000 sq. ft. showcasing a mix of regional tradition and contemporary architecture that incorporates the use of eco-friendly, energysaving convenience devices. Bavaria Gulf adopts environment-friendly measures with particular focus on energy-saving. Fittings like water-economizing faucets, sensor operated lights, thermal insulation technology, and an anti air leakage design are used in all Sandoval units. With over 12 years of development experience behind it, Bavaria Gulf believes in social engineering and educating people about the various nuances of property ownership such as the total cost of ownership, investment protection, construction material authenticity etc. The company also attaches great importance to social needs like the environment-friendliness of projects and facilitating qualitative communication between house-owners, which it chooses to sum up as “Communal living in privacy.”


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Transforming dreams into reality

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he idea of founding Best Homes started as a dream that could only be brought to fruition through initiative, determination, hard work and professionalism of Mr. Muhammad Iqbal. More than four decades ago, Mr. Muhammad Iqbal took on the ambitious task of building community houses for the middle-income group. He recognized the need of the executives and professionals who made up this part of society to live in and own their own property rather than spend their hard-earned income on rent. He launched real estate business activities from the solid foundation of four decades of building and development experiences all over the world. His projects in Pakistan range from highrise, low medium apartments to shops and offices. Best Homes has been established primarily to create world-class real estate developments as it has in Canada, Pakistan and now in the UAE. With its reputation for experience and commitment, and a passion for building better homes, Best Homes is further spreading its wings internationally in countries such as the United States of America, United Kingdom and India. Today, Best Homes is proud to offer our homebuyers the best quality and value in different locations across the globe, whilst providing a stable and profitable investment portfolio for all its investors. As recipients of the coveted North American Markham Building Excellence Award two years in a row, for their commitment to building excellence in Canada, Best Homes is committed to replicating their success in the UAE and beyond. Best Homes’ activities include the valuation of estates and property, project co-ordination, construction, planning and development, real estate brokerage, architectural and engineering consulting. Best Homes’ recent ventures include Global Lake View in the prestigious Jumeirah Lakes Towers; Global Bay View, a new venture in the iconic Business Bay develop-

ment; Global Green View, Global Green View 2, Global Green View 3, Global Palm View, and Global Garden View in International City; and Global Golf Residence in Dubai Sports City

Global Golf Residence - Luxurious living on the Green Global Golf Residence will be a secure and gated community overlooking the landscaped greens and tracks of Dubai Sports City - a world-class venue for sporting events and activities. This 25storey structure will be strategically situated within the prestigious enclaves of Dubai Sports City. The tower has the choice of studio, one-bedroom, two and three-bedroom apartments and duplexes and penthouses, each with its own magnificent views and fine architecture, and is replete with superb facilities.

Global Bay View - A corporate address par excellence Global Bay View is where the crème de la crème of Dubai’s corporate world will come to work. Global Bay View, an iconic 19-storey business complex is set in Business Bay, amidst beautifully landscaped environs with an inspiring view of water all around. Global Bay View is an impeccable blend of efficiency and elegance. Its strategic location makes it a resounding statement in the corporate world. In short, Global Bay View is a place where your enterprise can maximize its potential.

Global Lake View - Scaling new heights in residential luxury Jumeirah Lakes Towers - a truly enviable location. Touted as a dynamic blend of residences, retail outlets and offices. The tower scales an impressive 35storey, i.e. ground plus 34 levels, collectively housing 331 apartments including studio, one bedroom, two bedroom, three bedroom, four bedroom duplex and 5 bedroom duplex apartments.

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Benchmark in lifestyle properties

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heeraj & East Coast LLC (DEC), has in a short span of just two years, become one of the foremost developers of lifestyle properties in the freehold realty industry in the region. Today, it stands strong with a leading portfolio of conceptstyled residential and commercial developments in all the most prominent communities in Dubai like Business Bay, Culture Village, Dubai Marina and Jumeirah Village South. All these prestigious projects are worth approximately $1.2 billion. “Our vision is to create breathtaking modules of superlative luxury for the connoisseurs of lavishness and comfort in the UAE, as well as for those from other countries who are looking for a home in Dubai - the city of the future”, said Mr. Dheeraj Wadhawan, Managing Director – DEC. DEC started with its first project, the Dh300 million D.E.C Towers, in Emaar’s Dubai Marina, a twin-tower 21 and 25-storey residential project with an L-shaped retail segment on the ground floors. Since then, the company has acquired more plots and is at various stages of development in Dubai Marina (Marina Wharf I & II), Business Bay (Corporate Bay, DEC Business Towers, Bay Residences & The Sanctuary), Jumeirah Village South (Lawns

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I, II, III, IV & V) and Culture Village (The Estate, Cascade Ville & Cascade Manor). Currently, DEC is in the midst of planning and implementing new property development projects in the above locations as well as others across Dubai like Dubai Residences, all designed to offer individuals, families and businesses the best in luxury and modernity. “All our properties are designed keeping in mind its surroundings. A lot of thought and hard work go into the process of conceptualising and implementation. Our team is made up of a group of unique individuals, each an expert in the respective fields. We leave no stone unturned in our quest to provide our customers unique and specialised developments to live, work and play”, said a senior spokesperson for DEC. All DEC projects under construction and being planned are on display at their head office on Sheikh Zayed Road, Dubai. DEC is an active participant of CityScape (the international property investment and development event), where it showcases all current and future plans. Information can also be obtained through the Toll Free Number 800 3322.


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Value-for-money investment solutions

M

iNC Property Enterprises offers a comprehensive range of residential property investment opportunities in carefully selected real estate developments in the UK and Dubai. Our team has the knowledge and experience to optimise returns on our investors’ properties and effectively manage individual and corporate portfolios. MiNC was established in 1978 as a small family business and since then has grown immensely. It now has a number of external shareholders and has representative offices in London and Dubai. MiNC is committed to the delivery of a comprehensive range of Property Wealth Management services. We do this by employing and developing the most knowledgeable people, who work for our clients with an entrepreneurial approach, to the highest ethical standards. In 1999, MiNC became the largest private property investor in London’s ground breaking Canary Wharf development. This signaled major expansion for the business and gave rise to MiNC’s entry into the property wealth management arena. A clear focus on the delivery of high capital growth has secured our first class reputation. Whether in procurement, management services or investment advice, the MiNC difference results

from experienced staff, commitment to research and our unrivalled knowledge of the residential property market. Our high profile business advisors and partners represent companies that are leaders in their respective fields and all add positively to the proposition that MiNC provides. With developments like Marina Suites in the upmarket Dubai Marina and completed projects in International City, which has some of the highest percentage rental yields in Dubai, MiNC is focused on providing value-for-money investment solutions for the serious investor and homebuyer. MiNC has also successfully launched and sold out several projects in Jumeirah Village and is at the threshold of launching its flagship project ‘The Podium’ in Jumeirah Village, Dubai. ‘Podium Apartments’ is a unique multi-dimensional project. It is a project spread across three plots which includes two G+10 buildings and one G+16 building. The mix comprises of Residential Apartments, Serviced Apartments, and Commercial - Offices and Retail Outlets. For more information on MiNC or specific projects in Dubai or London, contact us on +971 4 3300334 or visit us on our website at www.mincproperty.com

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Bringing value to investors

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he mission of My Dream Property is to provide a property consultant team that can effectively assist investors. We want both sellers and buyers to get the maximum value on their property investment in Dubai. Dubai is going through a construction boom and large investments are coming from Great Britain, Russia and Continental Europe. Dubai offers a safe and profitable venue for overseas participation in property sector. This is indeed the best time for investment in property here. My Dream Property portfolio has many towers, buildings, apartments, villas, and lands in the Freehold and non Freehold sectors in Dubai and the other Emirates.

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Our Organization is built on an entrepreneurial culture of professionals with hands-on experience. We pay great attention to details, commitment, sincerity and self expression. We value our clients and customers and strive to create and maintain long lasting relationships. The services of My Dream Property include: Property Renting, Leasing and Sale Property Management Liaising with banks and financial institutions for property finance. Realty Investment Management Property documentation, clearance and related legal matters


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Pioneering developments in new business hub

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niEstate and Bena Real Estate, a part of Union Group of Companies (UGC), are the developers of Yasmin Village and Yasmin Tower projects in the emirates of Ras Al Khaimah. The promoters have been involved in the business of real estate and construction for three generations and have several projects to their credit. Sheikh Tariq Bin Khayed Al Qasimi is the Chairman of Union Group of Companies and Director of Yasmin Village and Yasmin Tower. The Group employs over 2,000 persons, who include qualified engineers, architects, accountants and managers. The promoters are the first private developer in RAK and the have been one of the pioneers in developing real estate in the emirate.

Yasmin Village Yasmin Village is a pioneering development in RAK real estate. The UGC has awarded the construction contract for Phase I of the Dh800 million-project to Jog Union Engineering. Consulting Engineering Group (CEG), which has designed the project, will supervise the construction. The Phase I of the project includes construction of six residential blocks and the basic infrastructure facilities. The initial mobilization has already begun, with construction slated to start any time now. The Phase-I is scheduled to shape up by the end of 2008, followed by an integrated handover. Yasmin Village represents one-of-a-kind lifestyle community, combining elegant architectural styles and most modern infrastructure, making it the perfect home. Strategically located at the foot of the mountains, the project offers lakeside and valley/ mountain view villas and 4-storeyed apartments, lakeside serviced apartments, hotel incorporating a community club with a complete range of facilities, high-rise tower for prestigious offices and luxury apartments and lush open space area for family.

Yasmin Tower Yasmin Tower is located near RAK Free Zone, Hilton Beach Resort and the Economic Department in an area that is emerging as the most sought-after commercial and business district of Ras Al Khaimah. Ideally positioned, Yasmin Tower is located off the Ras Al Khaimah Creek and port. Designed to the highest standards and offering a prestigious office environment, and residential

apartments, Yasmin Tower is situated on the prime waterfront location of RAK, and offers dramatic views of emirate’s new business hub. From an incredible architectural style to breathtaking views, it provides an ideal working and living environment, and yet in the most important commercial and business district. Lifestyle Residence: Prestigious address within a prestigious location A beautifully designed commercial and residential development, it offers true value for money with spacious rooms to provide additional comfort of home. The carefully designed floor plan provides for beautiful views of the creek or sea from the portico and lounge. The units are available in Studio, 1 Bedroom and 2 Bedroom apartment. Prestigious Office Yasmin Tower has been very thoughtfully designed to utilize every available area. The offices sit at the top most podium of the tower providing a unique prestige of its own, and each typical office is flexible to create specially tailored exclusively designed milieu. The unique features of the property include: • Express and dedicated lifts and concierge for offices • Separate gym for men and women • Rooftop swimming pool and café overlooking the creek and the sea • Strategically located to draw high-profile clients • Waterfront views • Parking spaces on five levels Yasmin Tower is undoubtedly a most prestigious destination for living, working and leisure.

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RustaR Real Estate: Quality as hallmark

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ustaR Real Estate is a member of RustaR Group of Companies, successfully operating in the UAE since 1994. The other members of the group are RustaR Designers, Al Bayan Tourism and Cargo and Seven Seas Marine. RustaR Real Estate has over 400 people working for it. Over the years, the company has acquired remarkable expertise in the UAE real estate market, which is behind the rapid expansion of its customer base and its reputation throughout the region. Being the largest agent for UAE developer companies present in Russia and CIS countries, the company’s vision is to be a real estate leader in Dubai. The company provides to its customers a high quality service while setting the base for long term relationships. Continuously progressing in all our activities, we are genuinely committed to our business partners and customers. RustaR Real Estate specializes in a wide variety of services that accompany the process of acquiring property in UAE. The main activities of RustaR Real Estate are: z To develop the new real estate projects (Marina

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101 Hotel and Residence) z To present the client with the complete information about the real estate market z To offer multiple options of properties according to the specific needs of the customer z To provide legal advice and juridical consulting z To compile and administer the legal documentation z To assist in financing of the investment z To consult with the new business entity opening, including the free zone and offshore businesses z To ensure complete confidentiality of a deal The RustaR team consists of a number of highly professional consultants who assist in providing the most up-to-date information as far as the Dubai real estate market is concerned. They are trained to evaluate the individual circumstances of each client and assist on freehold developments/projects, legalities of properties acquisition, mortgage products, and much more.


Directories

DUBAI FREEHOLD PROPERTY GUIDE


Registered Developers

as of september 2007

Documents Status Trust Account

No.

Developer Name

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45

Dubai Properties Nakheel Emaar Almanal  Completed Km Prop  Completed Diamond Developers(Offshore)  Completed Falcon City Of Wonders(L.l.c)  Completed Remah Holding Limited (Offshore)  Completed Jad24 Investment (Offshore)  Completed Jad23 Investment (Offshore)  Completed Jad25 Investment (Offshore)  Completed Kaizen One Investment Limited (Offshore)  Completed Sariin S.r.o  Completed Alsayah & Sons Investments(L.l.c)  Completed Deyaar Development Pjsc  Completed Aaa Auction 16 On Hold High Rise Properties(L.l.c)  Completed Alrashid Investments  Completed Reef Real Estate Investment Co (L.lc)  Completed Paramount International Trading Ltd  Completed Mag Group Fze  Completed Sky Estate(O.f)  Completed Aswan Investment Ltd(O.f)  Completed Green Desert Ventures Inc  Completed Matex Rstate Ltd (O.f)  Completed Eta Star Property Devrlopers (L.l.c)  Completed Union Properties (P.j.s.c)  Completed Sunny Beach Properties Ltd(O.f)  Completed  The Firt Group Plc (O.f Isle Of Man)  Completed Smart Home Properties  Completed Aternative Capital Invest(Gmbh)  Completed Khuyool Investments(L.l.c)  Completed Al Abdeen Investment Est  Completed Ici Investment Ltd (O.f)  Completed Dubai Life Style City(L.l.c)  Completed Aswan Developers(Rak-o.f)  Completed Lootah Real Estate Development Est  Completed Madain Properties Co (Mada`in)(P.j.s.c)  Completed Sheth Estate(International)(O.f)   Silverene Ltd (O.f)  Completed Marina Infinity Ltd (O.f)  Completed Cayan Business Center (O.f)  Completed Rufi Tower Ltd(O.f)  Completed Sharm Land Ltd(O.f)  Completed Dsec Corporation Fzc(Rak)  Completed

Bader Al-islami        HSBC  Bader Al-islami  Bader Al-islami  Bader Al-islami  Bader Al-islami                         DIB             DIB             DIB                

DFPG 2007

203


DUBAI FREEHOLD PROPERTY GUIDE

46 Abyaar Real Estate Development 47 Bonyan Holding(L.l.c) 48 First Homes Ltd(O.f) 49 Aakar Developers Ltd (O.f) 50 Season Development Ltd (O.f) 51 Grm Ltd(O.f) 52 Mrg Ltd(O.f) 53 Her Ltd(O.f) 54 Rmg Ltd(O.f)` 55 Onyx For Development Ltd (O.f) 56 Rgm Ltd(O.f) 57 Star Giga Est Ltd 58 Hirocon International 59 Ncc Urban Infrastructure Co Ltd(O.f) 60 Completed 61 Emirates Properties Investments Ltd(Bvi/o.f 62 Sungwon Fze(Sharjah) 63 Sahara International Fzc(Sharjah) 64 Gulf Developers Fzc(Sharjah) 65 Sidra Ltd (O.f) 66 Rani International Developers 67 Mars Properties Investments Ltd(Bvi/o.f) 68 Rufi Down Town Residency Ltd 69 Westar Properties Ltd(O.f) 70 Mr Sameet P. Dhamecha 71 Links Properties Investments Ltd(Bvi/o.f) 72 Jumeirah Properties Investments Ltd(Bvi/o.f) 73 Dubai Guernesy Property Investment Ltd (Guernsy/o.f)  74 Sienna Lakes Ltd(Bvi/o.f) 75 Prams Investments Limited(O.f) 76 Under Process 77 Under Process 78 Under Process 79 Under Process 80 Quttro West Ltd 81 Albait Ltd 82 Salem Al Mazrouei 83 Under Process  84 Under Process 85 Under Process 86 Under Process 87 Under Process 88 Under Process 89 Under Process 90 Under Process 91 Under Process 92 Under Process 93 Under Process 94 Under Process 95 Under Process 96 Under Process 97 Under Process

204

DFPG 2007

Completed    Completed    Completed    Completed    Completed    Completed    Completed    Completed    Completed    Completed    Completed    Completed          Bader Al-islami Diamond Arch Ltd        Completed    Noc        Completed    Completed        Noc       Completed        Noc  Noc  Noc          Noc  Noc  Noc                              

                                     


98 99 100 101 102 103 104 105 106 107 108 109 110 111 112 113 114 115 116 117 118 119 120 121

Under Process Tameer(L.l.c) Nahkeel (L.l.c) Dubai Water Front Jumeirah Village(L.l.c) The Palm-jumeirah Co(L.l.c) The Palm-jabel Ali Co(L.l.c) The Palm-deira Co(L.l.c) Discovery Gardens(L.l.c) Discovery Gardens(L.l.c) Jumeurah Golf Estates(L.l.c) Jumeurah Heights(L.l.c) Arabian Canal(L.l.c) The Trump Marina Residences(L.l.c) The Trump Plaza(L.l.c) Dubai Design Center(L.l.c) Jebel Ali Village(L.l.c)  Madinat Al Arab(L.l.c) Jabel Ali Properties Co(L.l.c) Lost City (L.l.c) Lost City Developments (L.l.c) Istithmar Development (L.l.c) The World(L.l.c)  Zabeel Investments (L.l.c)

                                           

Banks/Institutions Approved for Trust Account As of October 10, 2007 No.

Name

Status

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15

Dubai Islamic Bank (DIB) HSBC Bank Middle East limited Emirates Islamic Bank (EIB) Abu Dhabi Commercial Bank (ADCB) AMLAK Union National Bank (UNB) National Bank of Dubai (NBD) TAMWEEL Emirates Bank Commercial Bank of Dubai (DCB) Standard Chartered Bank Bader Al-Islami Bank  Noor Bank HABEEB BANK DUBAI BANK

Approved Approved  Approved  Approved  Approved  Approved  Approved  Approved  Approved  Approved  Approved  Approved  In Process  

DFPG 2007

205


DUBAI FREEHOLD PROPERTY GUIDE

Registered Real Estate Brokers as of september 2007

121 Real Estate Broker 4u Properties Broker 99 Real Estate Broker A & A Real Estate Brokers A W A Properties Abdulla Al Rostamani Properties Abdulla Mohd Noor Real Estate Abdulnoor Al Rais Abdulnoor Alrais Abdulqder Belshalat Real Estate Abu Hamed Real Estate Access Real Estate Broker Adnan Saffarini Real Estate Advance Real Estate Advantage Real Estate Aksee Real Estate Al Asala Real Estate Broker Al Bahar Properties Brokers Al Baraka Real Estate Al Bayan Real Estate Al Dawoodi Real Estste Broker Al Fahim International Real Estate Al Falah Real Estate Al Falah Real Estate Al Fehaidi Real Estate Est Al Garshoob Real Estate Broker Al Haddad Real Estate Al Hootah Commircial Brokerage Al Huraiz Real Estate Al Jabal Real Estate Al Khalidi Real Estate Brokers Al Majlis Properties Al Malah Real Estate (Amrec) Al Malik Real Estate Broker

206

DFPG 2007

221-3838 2224858 2289428 2646392 2676444 2954889 3394444 2270900 2277476 2827764 3988352 2273999 3978111 2737375 3556677 3434999 5246322 3298438 2664242 3393555 3313560 2833330 3326615 3326615 3211353

2833382 3326610 3326610 3211352

3395272 2979100 3525460 3415003 2678408 2650506 3393383 2615966

3395180 2979103 3529653 3415004 5225047 2650507 3392226 2613073

2280046 2211897 2235350 2673656 2955083 3394554 2233853 2276197 2831329 3988351 2273883 3977322 2732372 3520851 3435885 5287770 3298439 2663448 3391200


Al Maroof Real State Broker Al Marssa 3315008 Al Mawel Real Estate Broker 3617799 Al Maymana Real Estqate Brokers 3689999 Al Midfa Real Estate 3964442 Al Mimzer Real Estate 3960101 Al Mithaaq Real Estate Brokers 3559395 Al Moosawi Real Estate 3550731 Al Motamayezoon Real Estate Al Multaqa Real Estate 2626888 Al Oasis Real Estate Co. 3613169 Al Quds Real Estate 2627620 Al Ramool Real Estate 2667720 Al Ras Real Estate Broker 2694462 Al Rawabi Real Estate 2722663 Al Riquaba Real Estate Broker 2268058 Al Safi Real Estate 2035036 Al Sahm Real Estate Broker 506525001 Al Shamil Real Estate Broker 3370066 Al Sondos Real Estate 3434888 Al Suhool Real Esatte 3976964 Al Sulaiman Properties 2883022 Al Towar Real Estate Al Wasit Real Estate 2698080 Al Watad Real Estate Broker 2228817 Alabnaa Real Estate 2653400 Alatlal Real Estate 3415551 Albanna Property 2853222 Ali Al Haj Real Estate Broker 3438002 Ali Mohammad Hassan 3324440 Alkhayat Real Estate 2172352 Almuraqabat Real Estate 2626270 Almzhar Real Estate Alpha Properties(L.L.C) 3954402 Alseed Real Estate Broker Alsmow Real Estate Broker 2899852 Amlak Real Estate 2681710 Anahita Real Estate Broker 3595170 Aqar Real Estate Broker 0506577876 Aqua Properties 3355523 Arab Vision Real Estate Brokers 3551195 Arabian Acres Real Estate Brokerage 3413030 Arabian Escapes Real Estate Broker 3455224 Arabian Nights Real Estate 3377159 Arabian Skycom Real Estate 3214222 Arabian World Real Estate 2979292 Arch Properties Broker 3351233 Arista Real Estate Broker 3434625 Aryene Properties 5585305 Asayesh Real Estate Brokers 2945660 Asia Star Properties Broker 2288851 Asset Real Esate Broker 2893993 Asteco Property Management 4037777

2667446 3617790 3626161 3965030 3970121 3935239 3988044 2885865 2669666 3681011 2627548 2685596 2694461 2711332 2268021 2035060 3372466 3430842 3976968 2650507 2611770 2688587

3415431 2856070 3438004 3328889 2171497 2626564 3954403 3527272 2895070 2681710 3595230 3455600 3355381 3557089 3415333 3455225 3434409 3214440 2979979 3354401 3434652 2854492 2954322 2288871 2892294 4037778

DFPG 2007

207


DUBAI FREEHOLD PROPERTY GUIDE

Aswar Real Estate Awazi Gargash Properties Awiss Properties & Invest Ayhaco Real Estate Ayoub Eisa Real Estate Est. Barcelona Rea Estate Bavarian Real Estate Brokers Bellagio Real Estate Belleview Homes Real Estate Broker Best Deal Real Estate Broker Better Homes(L.L.C) Beverly Homes Real Estate Brokers Beyond Homes Real Estate Broker Bin Dubai Real Estate Broker Bin Habib Real Estate Bin Haidar Real Estate Bin Hamad Real Estate Broker Bin Muwaiza Real Estate Broker Bin Sabt Alsuwaidi Real Estate Broker Bin Salmin Real Estate Broker Blue Beach Real Estate Brokers Blue Bell Real Estate Brokers Blue Water Real Estate Broker Bluechip Real Estate Broker Bo Hamdan Real Estate Broker Bond Real Estate Brilliant Real Estate Buy N Let Real Estate Brokers Casa Bella Property Broker Casamia Star Gesamtplanung RE Cast Real Estate Castles Plaza Real Estate Cayman Estate Cbi Properties Broker Central Agency Real Estate Century 21 Gulf Group Real Estate Century Real Estate Channel Real Estate Brokers Cheler Real Estate Brokers China Town Real Estate China Town Real Estate Choueri Real Estate Broker Churchill Real Estate Broker City Centre Real Estate City Home Real Estate Brokerage City Place Properties Civilization Real Estate Connections Properties Cosmos Properties Crown Gulf Properties Cubac Real Estate Brokers Dacha Real Estate Dar Al Aseel Real Estate

208

DFPG 2007

2288565 2288565 2945500 2945513 2265126 3533325 2667655 2667656 3316161 3315959 2265126 2252303 3216550 3216551 2040204 3443141 3448558 2240364 2280364 2965522 3955236 3322255 3320110 3689988 3689973 3995544 3995522 3322383 3322393 2659944 2972922 2626222 2662288 2254441 2254565 3960445 3960446 3215575 3432201 2224994 2237966 3682347 3388452 3989553 3989541 2211289 2292409 3318832 3318834 3434888 3430842 5479423 3312368 3315253 3338404 3331929 3554456 3551919 3989996 3989996 3551131 3553487 3495111 3495050 2294500 2294600 3963700 3961977 3920022 3939829 2688700 2688456 4477817 2876634 3615445 3615447 3455512 3455513 2240707 2240708 3454502 3454503 2725005 2734995 6514488 2853213 295551 3242224 3242221 2692555 2699968 2211887 2211897 3539797 3533388 3432391 3432396 3323555 3323556 3416680 3416681 3455043 3455046


Dar Alaman Real Estate Deal Direct Real Estate Dehkadeh Real Estate Broker Deja Vu Real Estate Broker Desert Dream Real Estate Intermediary Desert Home Real Estate Direct Solutions Real Estate Broker Dobral Real Estate Brokers Dream Home Real Estate Dreams City Real Estate Dubai Connection Real Estate Broker Dubai Dunes Properties Broker Dubai Grand Real Estate Broker Dubai Gulf Properties Dubai Penthouses & Real Estate Dubai Premier Real Estate Broker Dubai Premier Real Estate Broker Dubai Waterfront Properties Dubai Zone Real Estate Broker Dunes & Waves Real Estate Brokers Dynamic Real Estate Broker Eagle And Falcon Real Estate Eastern Real Estate Emirates Gate Real Estate Broker Emirates Homes Real Estate Brokers Emirates House Real Estate Emirates Land Real Estate Eqarat.Coml.L.C) Eqari Real Estate Brokers Eqari Real Estate Brokers Eskan Real Estate Brokers Eurostar Properties Experts Real Estate Exquisite Homes Real Estate Brokers Feel Freehold Properties My Estste Brokers First Choice Real Estate Broker First Gowealthy Real Estate Brokers First Station Real Estate Broker Fortune Homes Real Estate Friends Real Estate Broker Co

2979900 3315588 2714320

2979901 3320301 2714148

3430305 3298801 2651808 3322960 2340923 3967999 3395272 2022558 2625102 2246766 2650506 3322151 2444499 2853315 3433512

3434987 3298802 2651898 3322950 2340932 3967557 3395180 2235870 2625102 2246188 2650507 3322161

3626123 2666810 2276611 2699669 2222441 7467642 2286646 2424498 2391719 3375001 3326877 3619040 2625551 3327353 2222002 2821802 3592211 2676999 2282244 3365665

3626321 2626999 2285852 2667740 2281406

2858333 3433912

2286647 3375002 3325887 3619041 2625556 3327352 223293 2823871 2666132 2676888 2283224 3365667

DFPG 2007

209


DUBAI FREEHOLD PROPERTY GUIDE

Future City Real Estate 2955656 Future Gate Real Estate 3552180 Future Land Real Estate Brokers 3414044 Gemini Real Estate Broker 2869122 Global Homes Real Estate 3607811 Golden Eagle Real Estate Brokers 3593311 Golden Feet Real Estate Brokers 6533392 Golden Nest Makers Real Estate Broker 3405557 Golden Sands Real Estate 3938121 Golden Suns Real Estate Brokers 3219372 Golden Wings Real Estate Brokers 8484835 Good Joop Real Estate Brokers 2730034 Got Ur Home Real Estate Broker 3580088 Grand Home Real Estate Broker 3431303 Green House 2292323 Green Wood Property 3662081 Group Seven Properties 3327625 Gulf Coast Real Estate Broker 3407080 Gulf Real Estate Broker Gulf Star Real Estate 2612161 Gulf Vision Real Estate Brokerage 3316618 Habiba Real Estate 2858600 Halcon Real Estate 6264272 Hamptons International Dubai 2966166 Heritage Real Estate Broker 3414767 High Society Real Estate Hill Top Real Estate Broker 3116600 Home Life Elite Gulf Properties Brokers 3300334 Home Link Properties 2678551 Homes 4 All Real Estate Broker 3320018 Homes Care Real Estate Brokers 2853335 Homes Forever Real Estate Broker 2883444 House Hunters Real Estate Brokers 2874964 House Of Property Dealers 6444240 Humaid Al Nuaimi Real Estate 3355573 Hussain Abdulaziz Suliman Alsulaiman 3975641 Ifa Properties Brokerage (Llc) 3433865 Indigo Properties 3553993 Indus Real Estate (L.L.C) 0504513224 Inter Emirates Properties 3385755

210

DFPG 2007

2956789 3550731 3414033 2869422 3407812 3527774 43441299 3939955 3938123 3219372 3212717 3580300 3431404 2298366 3663619 3291500 3407030 3316618 2859022 2960660 2670109 3328810 3300344 2678550 2853434 8808807 2689905 3355571 3975609 3433867 3550731 3905312


Investments Real Estate Proker 2626776 2666493 Investor 2832321 2832322 Jaguar Real Estate Broker 3966612 3977706 Jam Real Estate Broker 2832404 2832405 Jassem Ali Abdulla Hassan 3980330 Jumairah Beach Real Estate 2699133 2698982 Jumeirah Real Estate 0507704404 2979901 K M Properties 3440891 3441391 Kanwar Real Estate 2221277 2227797 Key 2 Dubai 2727272 2719756 Khatawat Real Estate Broker 6458391 2830304 Khatawat Real Estate Broker 3213960 3213207 King Style Properties Brokers 3453564 Kings Palace Real Estate (Pjsc) 3613178 3681011 Kingston Real Estate Brokerage 2215422 2215744 Kleindienst Real Estate Broker 2626888 L L J Real Estate Broker 6771197 6720802 L Qabbani Real Estate Broker 3442300 349181 Lafi Real Estate Broker 2699113 2654900 Lakeside Real Estate Brokers 3218824 3218825 Land Mark Properties (Llc) 3321090 3328329 Landlords Properties 2720177 2715717 Lands Properties 2696868 2688449 Leisure Homes 3551131 3553487 Links Gulf Real Estate Broker 2956410 2956411 Lmadi Real Esate Broker 3212944 Lootah Network RE & Commerical Brokerage 3213644 Luxury City Real Estate Broker Luxury Real Estate 3973131 3971313 Mahmoud Bin Essa Est Real Estate Brokers 3510768 3510757 Mahran Real Estate Broker 2666595 2662922 Maisaloon Real Estate Broker 3448457 Majestic Homes Real Estate Broker 2688171 Majid Real Estate Broker 3211944 3211904 Maraicar Real Estate 3212788 3212715 Maryam Real Estate 7788061 Masahat Real Estate 2233994 2238996 Mercede Real Estate Brokers 2633030 2633030 Meshref International Real 3328255 3328273 Middle East Real Estate 3526663 Milford Real Estate 3525461 2217408 Minc Property Enterprises 3300334 3300344 Moaza Al Jaziri Real Estate Broker 2666595 2662922 Modern Vision Real Estate Brokers 2282244 2283224 Mohamed Bilhasa Real Estate Broker 2668333 2653030 Mohamed Ismail Real Estate Broker Mohammed Ali Hassan Makki 2623236 2666562 Mohammed Ali Rashed 2850811 2854438 Mohd Khalifa Al Suwaidi Real Estate 2668121 2663621 Moon Home Real Estate Broker 3944441 Mossa Ahmad Real Estate Broker 2891484 2891484 Murdif Corner Real Estate 2899982 2899983

DFPG 2007

211


DUBAI FREEHOLD PROPERTY GUIDE

Muttawa Real Estate My Residence Real Estate Nad Al Hamar Real Estate Broker Nafar International Properties New Markrt Real Estate Night Moon Real Estate Broker Nili Homes International Property Broker Nili Properties Nr Properties Obaid Rashed Obaid Almehairi Obaidallah Real Estate Ocean Front Real Estate Olympus Properties Broker Opra International Real Estate Orange Real Estate Orange Star Real Estate Broker Owners Real Estate Ozzie Opportunities Real Estate Broker P.K. Properties Palmera Real Estate Broker Pan East Real Estate Brokers Panorama Real Estate Peninsula Real Estate Perfect Home Real Estate Persepolis Real Estate Brokrs Pk Rent Platinum Real Estate Potential Real Estate Pragmaticus Real Estate Brokers(L.L.C) Prime Links Real Estate Brokers Priority Real Estate Prominent Real Estate Property Investment Market Property Solutions Propzone Real Estate Brokers Prudential Real Estate Broker Rakmani Real Estate Rashed Essa Obaid Mohd Rashedreal Estse Brokers Re/Max Unlimited Real Estate

212

DFPG 2007

2669771 2215888 2241588 2690444 3325527 3613178 2298802 2288760 3526877 2662313 3976766 2727244 2882807 3320204 2979919 2639391 2627400 2713993 3344432 2696666 3663377 3613177 3213644 2979393 3219170 2236751 3358996 2878722

2650955 2217333

2876454

3486661 2288588 3244110 3324263 2688815

3487785 2287080 3244113 3324265 2688819

2625151 3401000 2733788 3533315 3340204

2628787 3401000 2664771 3433183 3340208

2690555 3324435

2662314 3976768 2727799 2882807 3320205 3954403 2639394 2621600 3350553 2650995 3663360 3681011 3212944 2979494 2222710


Ready House Real Estate 2246700 3365865 Reem Ghantoot Properties 2959317 4988106 Remaar Real Estate Brokers 3327332 3327322 Response Real Estate Brokers 3437153 3437154 Reyadah Real Esate Broker 2669499 2668984 Riviera Real Estate Brokerage 2292930 2292902 Rivoli Real Estate 3322960 3322950 Robinson Real Estate Broker 2823050 2824066 Rocky Real Estate 2294311 2294322 Royal Chandelier Real Estate Broker 2694433 2696911 Royal House Real Estata Brokers Royality Real Estate Broker 2886545 2886545 Rustar Real Estate 3935155 3529855 Saeed Abdulla Mohammed Bilal 2627772 Safa Homes 2688863 Saif Bin Kadra Real Estate 2945500 2945513 Saif Saeed Alsuwaidi 3215252 3215533 Saja Real Estate 2970006 29713114 Saleem Abdullatif 2958822 2958874 Saleem Abdullatif Mustafa 3394222 394243 Salik Real Estate Brokers 2732345 2730311 Sama Emirates Real Estate 2289105 2289106 Samyah & Nadyah Real Estate 3983999 Schmidt Properties 3977160 3977165 Seagull Marketing & Consultancy 2257333 2259949 Seji Real Estate Broker 2869060 Selvar Gate Real Estate Broker Seven Emirates Real Estate 2278383 2238576 Sheik Ahmad Obaid Al Maktoum RE Brokers 2695334 2695335 Sherwoods Real Estate 4561817 3215374 Silver Star Real Estate Brokers 269227 2692271 Sky Land Realty Brokerage 3280104 3280106 Sky Land Realty Brokerage 3532000 3533388 Sky Property Developers 2221250 2241484 Sky World Real Estate Broker 3594666 3594555 Smark Real Estate Brokers 2582555 2582255 Smart Home Properties 3310027 3322181 Smart Moves Real Estate 3955233 3955236 Smart Moves Real Estate 2853037 2895450 Sokook Real Estate 3941218 3949773

DFPG 2007

213


DUBAI FREEHOLD PROPERTY GUIDE

Sol Real Estate Source Properties Space Property Broker Stars Dome Real Estate Broker Sultan Al Sharq Real Estate Broker Sun Shine Real Estate Supreme Real Estate Broker Suvadh Real Estate Broker T.P.S. Real Estate Brokers Tabani Real Estate Taktical Realty Group Tamana Real Estate The National Investor Property Mangment The Real Estate Specialists Tokas Real Estate Broker Town Property Transworld Properties International Trio Properties Broker U T Sell Real Estate Broker Uae Link Real Estate Broker Unesco Real Estate Services Unique World Wide Real Estate Brokers Vakson Freehold Properties Variant Real Estate Broker Venture International Properties (L.L.C) W P F Real Estate Broker Wavws Investments & Properties (L.Lc.) Web Real Estate Broker White Palace Real Estate Broker Wise Real Estate Brokers World Doors Real Estae Yard Real Estate Yogl Real Estate Your Home Real Estate Yousef Moosaji Karim Albuhri Real Estate Yousuf Ahli Real Estate Zabadani Real Estate Broker Zagy Property Zahed Real Estate

214

DFPG 2007

3324263 3318863 2296677 2215422 3607793 3491811 5520330 2665915 3494444 3370611 3213434 3414699 3358676 3312662 3414699 2951177 3212300 3210110 22288262 3592704 3291899 3073719 3528464 8326449 3197715 0506500656 3325355 2288262 3433800 2669664 2218000 2653377 2865557 3215810 3401940 3673344 3527557 3972361 2653339

3324265 3318847 2296767 2215744 3607792 3491819 2665916 3213033 3414698 3358674 3312024 3414698 2951777 3211139 3211136 2288565 3592706 3326130 2249526 3528079 3969984 3375640 3327828 2288565 3434515 2662022 2277277 2653773 2868647 3215830 3401950 3627683 3697011 3973888 2653339


Law Firms & Legal Consultants Name

P O Box

Phone

Abu Ghazaleh Legal Services 1991 9714268 2192 Afridi & Angell 9371 9714330 3900 Al Amri Lawyers and Legal Consultants 14427 97142237666 Amereller Legal Consultancy 97143329686 Al Sharif Advocates and Legal Consultants 8867 97142628 222 Al Suwaidi Advocates & Legal Consultants 7273 97143211000 Al Sayegh Richards Butler 46904 97126313010 Al Tamimi & Co 9275 97143317090 Allied IP Attorneys 49140 97142829777 Bin Shabib & Associates 262 97143318888 Clifford Chance 9380 97143620444 Clyde & Co 7001 97143311102 Denton Wilde Sapte 1756 97143310220 Driver Consult Ltd 62425 9714332 8705 Emirates International Law Firm (EILF) 469 AD 97126265600 Fichte & Company Legal Consultancy 116637 97143434564 Emirates Advocates 9055 97143304343 Galadari & Associates 7992 97143937700 Habib Al Mulla & Co 2268 97143316868 Hadef Al Dhahiri & Associates 37172 97143323222 Hugh Fraser International 9117 Jurisgulf 29425 97143315567 Kalbian Hagerty LLP 549AD 97126936248 Karbal & Co 73868 97143432611 Key and Dixon 33675 9714332 3324 Lutfi & Company 8812 Meyer-Reumann Legal Consultancy 9353 97143317110 Molinari Legal Consultancy 58006 97143431903 R.M. Abou Naja 5337 9714282 2677Â Motei & Associates 112888 9714348 6100 Saifam Ltd 31303 97143199 380 Simmons & Simmons 9521 9714332 0140 Trowers & Hamlins 23092 97143519201 The Attorneys 9383 97143433300 Trench & Associates 97143553 146

email

able.uae@tagi.com dubai@afridi-angell.com dubai@amereller.com dubai@alsuwaidi.ae info@alliedipattorneys.com mero@clydeco.ae dubai@dentonwildesapte.com dubai@driverconsult.com lawyers@emirates.net.ae info@fichte-lc.ae info@galadarilaw.com jacqueline.pike@fraserlegal.com info@jurisgulf.com info@karbal.net info@keydixon.com dubai@meyer-reumann.com molinari@emirates.net.ae contact@motei.com dubai@trowers.com atornies@emirates.net.ae administrator@trenchlaw.com

DFPG 2007

215


DUBAI FREEHOLD PROPERTY GUIDE

Contractors, Suppliers & Consultants

216

DFPG 2007

Name

Role

Phone / Website

Abbco Group Actco General Contracting Company Adnan Z Saffarini Ahmed Bin Dasmal Contracting Co Alabbar Aluminium Al Ahmadiah Contracting & Trading  Al Amar Engineering & Cont. Co. Al Bakhit General Contracting  Al Basti & Muktha LLC  Al Bunian Project Management  Al Dana Engineering Consultants  Al Habtoor Engineering Enterprises Co. Al Habtoor Marble Company L.L.C  Al Hatmy Design & Engineering Consultancy  Al Huda Contracting Co  Al Khatib Cracknell  Al Masaood Bergum  Al Moosa Contracting L.L.C  Al Naboodah Contracting (L.L.C  Al Naboodah Laing (LLC)  Al Nekhreh Contracting Co. LLC  Al Oroba Contracting Co. L.L.C.  Al Rostamani - Pegel LLC  Al Saffar Interiors L.L.C  Al Shafar General Contracting Co Al Shirawi Electrical & Mechanical Engineering  Al Waha Engineering Consultants  Al Wasl Al Jadeed Consultants  Albanna Enterprises  Al-Falasi & Partners  Aluma Systems International Inc.  Alumco L.L.C  Arab Technical Construction Co.  Arabian Construction Company  Arc International Architects & Engineers  Arcan Project Management Services 

project management 04-2214425 construction www.actco.co.ae architect 02-6260501 construction www.adcont.co.ae façade supplier www.alabbargroup.com construction www.alahmadiah.ae construction 04-2857152 construction 04-2629499 construction www.abmgroup.ae project management www.albunian.com consultancy 04-2234466 construction www.habtoorengg.co.ae interior design 04-2859100 architect www.alhatmydesign.com construction www.hudacon.com landscape architect www.cracknell.com consultant www.amb.ae construction www.almoosa-contracting.com construction www.alnaboodah-civil.com construction www.lainginteriors.com construction 04-43400004 construction 04-2951395 construction www.alrostamani.com interior designer 04-3474787 construction 04-3366605 elec. engineers www.alshirawi.com consultants 971(4)3365593 architect www.awaj.ae/ foundation company www.albannagroup.com architect 04-3976111 formwork, scaffolding www.aluma.com façade designer www.alumcouae.com construction www.arabtecuae.com general contractor www.accwll.com architect 04-2628868 project management 04-282 7777


DUBAI FREEHOLD PROPERTY GUIDE

Archdome Consulting Engineers consultancy 04-2698700   Archon Consultants  consultancy www.archon.co.ae Arenco Architectural & Engineering Consultants  architect www.aaagroup.com Arex Engg. Consultants  consultancy 02-6262697  Arif & Bintoak  consultancy www.artoak.com Arkiteknik International  architect 04-3375701 Arminox Gulf  rebar supplier 04-8872777 Artec Consultants  architect www.artec-usa.com Arup Gulf  structural engineering www.arup.com Associated Constructions & Investments Co. construction www.eta-ascon.com Belhasa  construction www.belhasa.com Bilt Middle East  MEP engineering 04-3439798 Bin Zayed Contracting  construction www. binzayed.com Blair Anderson  quantity surveyor www.blairanderson.co.uk Bovis Lend Lease  project management www.bovislendlease.com Brewer Smith & Brewer Gulf  architect www.bsbgulf.com Bright Star Construction Materials roofing supplier www.brightstarllc.com Buro Happold  structural engg. www.burohappold.com Buset Contracting Company construction www.ibuset.com/ Cansult Limited project management www.cansult.com Carlos Ott Architect architect www.carlosott.com Civilco Engineering & Contracting civil engineering www.civilco.ae Clifton Coney Group project management www.cliftonconey.com Convrgnt Value Engineering . construction www.convrgnt.com D.G. Jones & Partners Dubai consultancy www.dgjonesandpartners.com Dallas Foundation L.L.C. foundation company www.dallasfoundation.org DAR Consult consultancy www.dar.ae DEPA Hotel Interiors interior designer www.depa.ae Dimensions Engineering Consultants consultancy www.dimensions-ec.com Doka Gulf FZE formwork, scaffolding www.doka.com Dubai Civil Engineering civil engineering 04-2275248 Dubai Consultants architect www.dubaiconsultants.net Dubai International Reinforced Plastics façade supplier www.dirp.com Dubarch architect www.dubarch.com Dutco Balfour Beatty construction www.dbbcg.com Edara L.L.C project management www.edara.ae EHAF Consulting Engineers consultancy www.ehaf.com Elemec Electrical Contracting L.L.C electrical contractor 04-2654003 Emirates Tex-Cote Colora Est. façade supplier 04-3338911 Emrill Services L.L.C property management w ww.emrill.com ERCO Lighting lighting installation www.erco.com

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DFPG 2007


ETA M&E MEP engineering www.eta-ascon.com Feasibility Group consultancy www.feasibilitygroup.com Ferrofab L.L.C elevator engineering www.ferrofab.com Fraser Nag Partnership architects 04-2685907 Fujairah National Construction Company construction www.fncglobal.com Gleeds Gulf project management www.gleeds.com Group Consult International consultancy 04-2228575 Engineering & Consultants architects www.gulfeng.net Gulf Extrusions Co. faรงade supplier www.gulfex.com Hanscomb Consultants Inc. quantity surveyor 971 2 6262461 Higgs & Hill LLC construction 04-3391655 Hill International Dubai consultancy www.hillintl.com Hi-Tech Steel Industries metalwork supplier 04-3384433 Holford Associates architect www.holfords.com Hyder Consulting Middle East Limited consultancy www.hyder-consulting.com Ian Banham and Associates consultancy www.ianbanham.com Intermass Engg. Contracting Co. construction 06-5583003 Jain & Partners 04-2715691 JC Maclean Group steel supplies www.jcmaclean.com Juma Al Majid Est. project management www.al-majid.com Kalavaal Architects architect www.kudianavala.com KCA International architect www.kca-int.com KEO International Consultans architect www.keoic.com Khalifa Al-Tajir Construction Est. construction 971(4)2268592 Khansaheb Civil Engineering construction www.khansaheb-dubai.com Kling Consult GmbH architect www.klingconsult.de Kompass U A E CAD software www.kompass.com KONE Middle East LLC elevator supplier www.kone.com Kulkarni Quantity Surveyors quantity survey www.kulkarniqs.com Locke Carey fire protection www.lockecarey.com Lootah Hudson & Buckle structural engineering www.lootahgroup.com LWDesign Group design architect www.lwdesigngroup.com Menasco Mechanical Contracting MEP engineering www.menascoae.com Mero Middle East faรงade supplier www.mero.de Middle East Foundations Group foundation www.middleeastfoundations.com Mirage Mille Leisure and Development project mangmt. www.miragemille.com Mitsubishi Electric Corporation elevator supplier www.mitsubishielectric.com Mivan general contractor www.mivan.com Modern Executive Systems Contracting construction 04-2629696 Naresco Contracting Company construction www.naresco.co.ae National Fire Fighting Manufacturing Co. fire protection www.naffco.com Norr Group Consultants Int. Ltd. architect www.norrlimited.com

DFPG 2007

219


DUBAI FREEHOLD PROPERTY GUIDE

Nutek Consultants Omis Contracting Company Peremba Construction SDN BHD PERI (L.L.C.) Middle East Office PMK International Projacs Ramkor International FZCO Remco Rice Perry Ellis Robodh Contracting Co Roya International S.S. Lootah Contracting Saleh Constructions Samuel CrĂŠations S.A Sensaire Services L.L.C Shadid Engineering Consultant Shen, Milsom & Wilke, Inc. Sibca Electronics SMKA Electric (L.L.C) Ssangyong Engineering & Construction Stromek Emirates Foundations Sun Engineering & Contracting Swissboring Overseas Corporation Tamco Middle East Ltd. Technical Studies Bureau Techno Lift Techno Stream FZCO Thomas Bell Wright International Consultants Thompson, Ventulett, Stainback & Associates Trans Gulf Electro-Mechanical LLC Transcontinental Indenting Co. Transemirates Contracting Trinity Engineering Services Turner Construction International Union Contracting Company United Engineering & Construction Waagner Biro Gulf LLC Woods Bagot United Arab Emirates WS Atkins & Partners WSP Middle East ZETAS Zemin Teknolojisi A.S. Ziki Homsi Zublin Ground + Civil Engineering

220

DFPG 2007

architect www.newtekconsultant.com general contractor 04-2242274 construction ww.peremba.com.my form work, scaffolding 04-3394494 acoustics consultant www.pmkinternational.com project management www.projacs.com fire protection www.ramkor.com MEP engineering www.remco.com consultancy www.riceperryellis.com general contracting www.robodh.com project management www.royainternational.com construction www.lootah.com construction 04-2828880 interior fit-out www.samuelcreations.com electrical engg. www.sensaire.ae architect www.shadidlab.co.ae/ acoustics consultant www.smwinc.com fire protection www.sibca.com lighting www.smka.co.ae construction www.ssyenc.com foundation 04-3979505 construction www.sunengg.ae geotechnical engg. www.swissboring.com Electrical engg. ww.tamco.ae architect www.test-uae.co.ae elevator supplier 04-2828051 security systems www.techno-stream.com consultancy www.bell-wright.com architect www.tvsa.com MEP engineering www.transgulfdubai.com/ building pit ic15475@emirates.net.ae general contractor 04-2825844 MEP engineering www.trinitygroup.ae project mngmnt. www.turnerconstruction.com construction 02-6656600 construction www.united-engineering.net construction www.waagner-biro-gulf.com architect www.woodsbagot.com consultancy www.atkinsglobal.com consultancy www.wspgroup.com/middleeast civil engineering www.zetas.com.tr design architect 04-3988777 building pit 02- 6344039

Dubai Official Freehold Property Guide  

The official Freehold Property Guide published on behalf of Dubai Land Department. Published by Sterling Publications

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