May 2014 - eZine

Page 1

Last Month at a Glance

Dubai & Abu Dhabi Tenants Await Launch of the Rental Index Improved Infrastructure and Facilities Drives Up Rentals and Sales in JLT

International Real Estate News

Prime South African Locations Attracting Overseas Buyers Prices for Condos and Family Homes in Miami Record Increases Once Again Issue No. 17 - May 2014

Estonia

International property market

Latest From the Economy

Global Economic Revival in 2014 Will Contribute to Middle East Growth Real Estate Shares Drive Up DFM

Dubai Freehold Property

Culture Village Dubai and Al Jaddaf International Property Markets

International Property Markets - Estonia Real Estate Investing Lessons

Lesson 15: The Basics of Being a Good Landlord – Part I

Prepared by: Alpha & Beta FZE

VALORAN MEMBER

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Valoran Real Estate Brokers Issue No. 17 - May. 2014

News Digest

Last month at a glance

Dubai & Abu Dhabi Tenants Await Launch of the Rental Index Abu Dhabi Tenants have been struggling with budgeting for rental hikes ever since the rental cap was done away with last November. Subsequent to the removal of the cap, rental demands have increased across the emirate’s prime residential clusters, and the trend is expected to continue until summer. While the proposed rental index might put a stop to the growing rent hikes, no formal date has been set for its launch, although residents and real estate industry sources expect it to come through sometime during this year. The introduction of the rental index will not only come as a breath of fresh air to tenants in Abu Dhabi who will benefit from better regulated rents, but will also help the emirate to move towards becoming a more mature residential market. In addition, it will serve as a benchmark that tenants and landlords can refer to for improving the degree of transparency in fixing rents.

Until the rental index is launched, Abu Dhabi landlords are making sustained efforts to hike rents up to the perceived market value, as they do not want to lease properties at rates below the market average in a particular neighbourhood. This trend is more noticeable among landlords owning property in the more established locations in the city, or those with an older stock of residential units. In Dubai too, efforts are underway to control rental hikes. A recently announced Decree established the set percentage base-ranges within which landlords could increase rents. This would be linked to a rental barometer operated by the Dubai Land Department. With the announcement of the Decree, the existing rental cap in Dubai has become void. Following this, feedback from the market indicates many cases of breaches to the rental barometer as landlords try to get the www.valoran.ae


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maximum possible rents, which are above the index average, and they have no hesitation in asking tenants to vacate if their demands for hikes are not complied with. The rental barometer is still work in progress, and it will be a while before it settles into a scenario where landlords won’t have the avenue for making steep hikes. Until then, tenants in Dubai and Abu Dhabi will have to wait patiently with the belief that in time it will bring stability and transparency to the market.

filled in and converted into a large 55,000 square meter park. As per the statistics available from the classifieds website Dubizzle, in the first quarter of 2014, sale prices for one bedroom units in JLT rose to Dh 1.25 million from Dh 850,000 during the first quarter of last year. Rents for one-bedroom flats increased from Dh 70,000 to Dh 90,000 during the same period.

Tenants Have the Upper Improved Infrastructure and Facilities Drives Up Rentals and Sales in JLT New statistics indicate that Jumeirah Lake Towers have become one of the Dubai’s most attractive areas to live in. Rental values of one bedroom apartment units in the development increased by 29 per cent in the first quarter of 2014, compared to the same period last year. Sale prices for one bedroom apartments rose by 47 per cent. In the past, JLT faced several issues, especially related to bottlenecks in the access to and from the development. With the work now complete, access and traffic bottlenecks are no longer an issue. In addition, the development’s infrastructure and facilities have been improved. Several restaurants and cafes have opened up in the community, and one of the three lakes in the development was

Market Abu Dhabi’s office market has significant new supply in the pipeline in the medium term. As a result, it is likely to become the only category in the UAE real estate sector that will be a tenants’ market. Office locations that can provide tenants ample parking space will attract a premium. Similarly, areas with good transport links will also see increased activity. Submarkets such as Khalifa Park and Capital Centre have already emerged as hot spots for office activity for this reason, according to a report from Cluttons. In recent months, many landlords, especially professional and institutional landlords who are wary of the market conditions, have shown greater flexibility in lease terms with the intention of giving more importance to occupancy rather than rental income. Landlords who ignore the market realities will experience increased periods of vacancy as occupiers are more likely to find better deals. The present scenario in Abu Dhabi’s office market is similar to the situation that Dubai experienced prior to winning the bid to host Expo 2020. From the tenant’s market that existed earlier, following the November announcement, there has been an increased demand for office space in Dubai, particularly large-format spaces.

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Valoran Real Estate Brokers Issue No. 17 - May. 2014

Other headlines in brief After the recent sellout of 219 freehold apartments in Atria within six hours, Deyaar Development Co is looking for an encore with the 162 hotel apartment units that will be opened to investors. The company plans to keep 163 apartments for its own portfolio. Dubai Airport Freezone Authority (DAFZA) plans to attract Russian businessmen and investors to the UAE through a seminar organized in Moscow on April 29th, which is aimed at increasing awareness of investment opportunities in the UAE.

Despite this, developers are following a cautious approach as new office projects launched now could have longer waiting periods for yield generation as there is uncertainty about future demand. Instead, developers are of the opinion that they would be better off creating hotel service apartments, which would start earning revenues almost immediately.

Speaking at the company’s annual general meeting in Dubai, the Emaar Chairman reminded developers that flipping had a part to play in the 2008 housing market crisis due to speculators buying unfinished properties and reselling them to third parties within a short time. The Chairman advised restrictions on resale of new properties to curb such speculation.

Given this situation, the supply of office space will not increase significantly in the next couple of years. Until then, it will continue to be a tenants’ market.

Sale Price [ USD/SQF ] 750

4

500

Mar 2014: Abu Dhabi - USD 382/SQF

250 0

Rental Price [ USD/SQF ]

3

Mar 2014: Abu Dhabi - USD 2.22/SQF

2 Mar 2014: Dubai - USD 378/SQF

2005 Dubai

2010 Abu Dhabi

reiding.com

1

Mar 2014: Dubai - USD 2.20/SQF

2005 Dubai

2010 Abu Dhabi

2014 reidin.com

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Latest from the economy

Global Economic Revival in 2014 Will Contribute to Middle East Growth With leading world economies such as the US, UK, Germany and Japan showing strong signs of recovery in 2014, the Middle East, especially the Gulf countries are likely to benefit from increased growth. Speaking on the side lines at the IHS Forum in Dubai, IHS’ Chief Economist Nariman Behravesh said that the positive economic growth signs that the Middle East was experiencing was being primarily driven by the Gulf countries. The UAE and Saudi Arabia were growing at a rate greater than 4.5 per cent. In addition, consumer spending in the region was on the rise. The regional unemployment rate was forecasted to be lower than that of France, Germany and Italy for the next three years, and compound annual growth rates were expected to be above-average until 2035. With key emerging markets such as Brazil, Russia and China likely to experience a slowdown in their economic growth, global companies that are 6

looking at expanding capacity overseas are eyeing the Middle East as a potential destination. The industries that are expected to invest in the region, according to IHS forecasts, include the automobile, energy, chemicals and defence sectors. As per IHS estimates, around $27 billion will come into the Gulf economy through defence deals and its allied programmes. The Middle East automotive market is forecasted to grow at double the pace of those in Western Europe and North America, between 2012 and 2022. IHS estimates also suggest that Dubai would invest around $8 billion in cargo infrastructure investment, with $10 billion coming in additionally from the private sector for positioning the GCC as the global cargo leader. As it gears up to host World Expo in 2020, which so far promises to be the biggest ever edition of this event, Dubai will also add new roads, another airport, hotels, a peninsula wide rail project, energy plants and event venues.


Valoran Real Estate Brokers Issue No. 17 - May. 2014

Real Estate Shares Drive Up DFM Dubai’s key index witnessed a sustained rally towards the end of April, largely due to real estate companies that have been experiencing a revival since the second half of 2013. On Sunday, April 27th, the DFM General Index had risen to 5,116.49 points, recording an increase of 0.6 per cent, which was its seventh consecutive gain in an eight day period. Emaar Properties, which is the stock with the highest weighting on the index, gained by 1.9 per cent to touch Dh11. Investors’ confidence got a boost as the company’s Chairman, Mohammed Alabbar, made a bullish forecast about its profits tripling by 2018. Arabtec Holdings, the largest listed builder in the UAE, rose by 2.9 per cent following speculation about the company’s prospective alliance with Abu Dhabi’s Aldar Properties. Arabtec’s shares have more than tripled during the year. Shares of Aldar Properties, Abu Dhabi’s largest developer, declined by 1.2 per cent. The company recently announced three residential projects with a total value or Dh 5 billion. In Abu Dhabi, the benchmark ADX General Index fell by 0.4 per cent.

Ministry of Energy and IMF

Under Secretary of the UAE Ministry of Energy, Matar Al Niyadi met with the Deputy Director of IMF’s Department of Regional Studies – part of the Department of Middle East and Asia. At the meeting, they discussed the UAE’s policy in diversification of energy sources as well as the efforts and initiatives taken by the country in this area. Among the points discussed was that of the UAE increasing oil production to 3.5 million barrels of crude by 2017, along with plans to increase refining capacity to approximately 920,000 barrels per year by the end of 2014. The Under Secretary also discussed the importance of decreasing energy consumption in the country without negatively impacting economic growth, besides touching upon rationalization of energy efficiency, renewable energy projects and the impact of deploying renewable energy applications in the region. The visit of the IMF delegation to the UAE is part of the process of the preparatory strategy by the organization for launching an economic report, which will feature a complete chapter about the UAE and its efforts in the energy sector. www.valoran.ae


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Ukraine Crisis Unexpectedly Benefits Certain Gulf States With Russia’s debt markets being frozen following the Ukraine crisis, a few of the Gulf’s oil-rich countries are gaining an unexpected share of global money. Two bond sales planned for the end of April highlighted the changing fortunes of the emerging markets. While Russia was forced to cancel an issue of Government bonds due to investors demanding an interest rate that was considered too high by the country, Dubai managed to attract $750 million worth of debt, for the first time in 18 months. With the unrest in Ukraine causing ripples across capital markets, investors are looking at the Middle East as a safer option. A research note from HSBC indicated that with mainstream emerging markets failing to keep up with their previous growth rates, liquidity is likely to flow into smaller markets, such as the UAE, Qatar and Oman, which have strong economies. For the countries in the Gulf, this trend comes at an opportune moment, as the region gears up for big events. Large scale investments are on the way in Dubai for World Expo 2020, while Qatar will host the 2022 World Cup.

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In Dubai, the offering of 15-year Islamic bonds was over three times oversubscribed, attracting investors from Asia, Europe, UK and the Middle East. The bonds, known as Sukuk, will pay a return on profits generated from tangible assets in lieu of interest, which is prohibited under Islamic law. With oil prices up, economies continuing to grow and stock markets performing well, next month, MSCI’s equity market index will move up UAE and Qatar from ‘frontier market’ status to that of ‘emerging market’. Growing optimism about the gulf economies has led some analysts to predict that 2014 could match the record $50 billion achieved from corporate and sovereign bond issues in 2012. However, data from Dealogic seems to indicate otherwise as the total debt sales in the Gulf is only at $11.3 billion so far this year compared to $16.3 billion in the same period during 2013. With activity picking up, it’s still too early to tell whether more businesses and governments will cash in on the favourable market conditions to issue debt. However, the debt capital markets in the Middle East are relatively small at present, and while they may benefit from the unrest in Russia and the Ukraine, they do not have the capacity to absorb the entire outflow of investment from those regions.


Valoran Real Estate Brokers Issue No. 17 - May. 2014

Dubai Freehold Property Culture Village Dubai & Al Jaddaf

Culture Village Dubai Culture Village is a mixed use development by Dubai Properties Group. Located along the shore of Dubai Creek, the master plan of the development has residential, retail and commercial zones, which will have an Arabic theme. The entire development will be inter-connected by 3.8km of walkways. It’s within easy access of the Dubai International Airport as well as Garhoud Bridge and Business Bay Crossing, which provide convenient access to other business and residential districts in the city.

Source: Google Map

Zones Several residential towers will be located in Culture Village, and with its Creekside location, many of the apartments will have lovely views of the waterfront. Many luxury residences are a part of the residential zone, including Palazzo Versace that will feature 169 luxury condominiums ranging from one bedroom to three bedroom units with access to hotel services. Among the residential towers in Culture Village is the award-winning luxury project D1 Tower by ENSHAA PSC, featuring 80 storeys offering studio, 1-bed, 2-bed, 3-bed, 4-bed, sub penthouses and a

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penthouse. The tower will have a total of 575 units located near Palazzo Versace. Other residential developments include Iris Amber (designed by Atkins), Nur Tower (a 27 storey tower developed by Emirates Sunland with fully furnished one and two bedroom apartments, in addition to two 5-bedroom penthouses), The Estate Tower (a 21-storey mixed use tower developed by Dheeraj East Coast LLC with studios, one-bedroom, two-bedroom and three-bedroom units) and Yuvi Residence (an 8-storey apartment also developed by Dheeraj East Coast LLC with 1, 2 & 3 bedroom apartments). Dubai Properties has also announced the launch of the Manazel Alkhor, a development with three and four bedroom apartments, which will be completed by mid-2016.

Culture Village’s commercial district will have schools, art academies, including those specializing in visual, performing and literary arts, and cultural institutions that will have world-class infrastructure and facilities. The focal point of the retail zone will be a rustic Arabian souk that will offer crafts, antiques and spices. In addition, luxury hotels, gourmet restaurants, coffee shops, book stores and galleries will be a part of the retail complex.

Sales Prices Culture Village has only apartments for sale ranging from studios to 6 bedroom units. The average price of apartments is AED 8,553,752 with studios starting from AED 1,250,000. The most expensive apartments are five bedroom and six bedroom units, which can fetch up to AED 54,267,599.

4BMF 1SJDFT Villa Avg. Price: N/A Price Range: N/A

Apartment Avg. Price: AED 8,553,753 Price Range: AED 1,250,000 - AED 54,267,599

PrPpertZ types

t Villa t Apartment

Source: propertyfinder.ae

10

PrPperUJFT bZ bFE rPPNT

t bed

t bed

t bed

t bed

t bed

t CFE t 4UVEJP


Valoran Real Estate Brokers Issue No. 17 - May. 2014

Al Jaddaf Al Jaddaf is a locality in western Dubai, which has the Dubai Creek to its north and east, Zabeel to its south and Umm Hurair (2) to its west. Once an area used for building dhows, around 100.27 hectares is being developed by the Bonyan Group as a mixed use development with offices, hotels and residences that will have excellent infrastructure facilities. A 12-lane highway connects it to Dubai International Airport and also provides easy access to Sheikh Zayed Road from where other business districts are easily reached. In addition, its proximity to the Dubai Creek is a major point in its favor. Recently, the Green Line of the Dubai Metro has been extended to the Al Jaddaf station, making the area more accessible to other parts of the city.

Among the recent developments in Al Jaddaf is the Dubai Marriott Hotel, which has a two part development in the area. The hotel opened earlier this year, while the adjacent Marriott Executive Apartments will soon be operational. The master plan of the development has 200 multiuse plots that can be used for residential, retail, commercial or hospitality projects. Plot sizes range from 9,150 to 26,266 square feet. As per Reidin.com indices, the median price per square feet for land in Al Jaddaf is USD326.8 per sq. ft. The median transaction price is USD 4,440,342 ranging from a minimum transaction value of USD 896,323 up to USD 15,110,267. Al Jaddaf – Sales Transactions for the past 6 months Median Price [USD/SQF]

326.8

Min Price [USD/SQF]

81.20

Max Price [USD/SQF]

494.3

No. of Transactions

14

Total Value [USD/SQF]

78,868,662

Total Size [USD/SQF]

23,432

Median Transaction Price [USD/SQF]

4,440,342

Min Transaction Price [USD/SQF]

896,323

Max Transaction Price [USD/SQF]

15,110,267

Source: Google Map

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International Real Estate News

Prices Rise Due to Lack of Supply Competition among buyers has resulted in a 1.1 per cent increase in prime residential property prices in Scotland in Q1 of 2014, primarily due to a lack of supply. As per Knight Frank’s Prime Scottish Property Index, prices have increased by 2.8 per cent on an annual basis in the year ending March 2014. This has been the largest annual gain recorded in six years. The upward pressure on prices is a result of lack of stock along with the increase in confidence among buyers and sellers. The tight supply has coincided with increased buyer interest over the three months ending March 2014 with a 36.5 per cent growth in new applicants in comparison to the same period a year earlier. Edinburgh has benefited from the highest increases in demand, and this has filtered out into the wider prime markets. While most of the sales have been concentrated around the £1 million price band, there has also been an increased interest in large family homes that are well presented. Some of the sellers have shown hesitancy in putting their homes on the market before the result of the Independence Referendum in September 2014, but this has not deterred buyers as the number of property

12

viewings in prime Scottish property markets over the first quarter of 2014 has been twice as much as the same period last year. As per Knight Frank’s analysis, the stock level in prime properties not including Edinburgh has been 26 per cent lower than the number on the market at the same time in 2013. The number of £1 million dollar homes picked up significantly in the second half of 2013 as per data from the Registers of Scotland. Around 68 agreed sales of properties above £1 million were recorded in the second half of 2013 compared to only 37 in the first half of 2013. This is a sign of the increasing investor confidence. Edinburgh had the most number of sales above £1 million in 2013, with 62 properties sold in 2013, which was twice as much as any other local authority in Scotland. Aberdeen City and Aberdeenshire recorded the second highest number of sales, which accounted for 13 per cent of the total market in 2013.


Valoran Real Estate Brokers Issue No. 17 - May. 2014

Prime South African Locations Attracting Overseas Buyers South African properties in prime locations, which were once considered a secret by locals, are now becoming popular with overseas buyers. With favourable exchange rates making prices a bargain for overseas buyers, like those from Britain, many of the popular locations in the country are attracting investors as a good investment for holiday lettings. As a result, bush and game reserves in Africa are proving to be the most attractive investments. In coastal towns, such as Mossel Bay, the number of overseas buyers has grown, and holiday homes in Garden Route, which is one of the most beautiful coastlines, are very much in demand. The five-star bush resort, Gondwana Game Reserve, which is around 30 minutes inland from Mossel Bay, is the only game reserve in the Southern Cape, which has properties for sale. The reserve offers the opportunity to spot the big five game animals – lions, elephants, rhinos, buffalos and leopards. Championship seaside golf courses such as Fancourt, Oubaai, Pinnacle Point and Pezula are within easy reach. In addition, it is close to Cape Town and the Cape vineyards. Located in the centre of Garden Route, it has holiday homes where tenants can enjoy the experience of around 27,000 acres of wilderness, besides year round activities such as golf, surfing and swimming. Freehold title plots in the area, which are approximately 2.5 acres, start from ZAR 1 million, while three-bedroom thatched lodges cost around ZAR 3.5 million.

While the Camps Bay area has long been a favourite of South Africa’s elite, it is increasingly gaining popularity with overseas property buyers, especially the British, as English is widely spoken in the area.

Prices for Condos and Family Homes in Miami Record Increases Once Again In March 2014, median sale prices of single family homes and condos in Miami, which is one of the most dynamic residential markets in the US, increased. Data from the Miami Association of Realtors showed that the median sale prices of single family homes rose by 4.4 per cent to reach $235,000 in March 2014, recording 28 months of continuous growth. Average sale prices of single family homes increased by 17.8 per cent to touch $459,102 last month, from $389,847 in March 2013. For condominiums, the median sale price has increased for 33 months continuously. It increased by 19.8 per cent in March 2014 to reach $200,000, up from $167,000 in the same month of the previous year. Average sale prices for condos increased by 16.3 per cent from $324,380 in March 2013, to reach $377,290 in March 2014. One of the primary reasons that Miami real estate continues to record fast paced sales is that properties are priced right and buyers also realize the need to be competitive in the current situation.

At the other end of the price spectrum, Camps Bay Beach offers a boutique collection of modern 3-bedroom beach villas at prices between ZAR 29.5 million and ZAR 36 million, which offer a Mediterranean lifestyle at only a fraction of the cost. Situated on the slopes of Table Mountain, the villas have lovely views of the Atlantic Ocean alongside some of the most beautiful beaches in the world. www.valoran.ae


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Lifestyle

Opulent Luxuries Add Glam to Home DĂŠcor and Landscape While semi-precious gems are a common feature in jewelry, they are rarely seen as sculptural pieces in homes and gardens. Now, Opulent Luxuries, which sources top quality gemstones from Brazil, creates bespoke pieces that can add sparkle to your interiors or outdoor landscaping. Once a client decides on a preferred gemstone, it is extracted in Brazil and then handcrafted by artisans to create a customized piece. Amethyst and quartz are the two gemstones that are primarily used for exteriors. The designs are created by a team of landscape architects who are skilled at using geodes to add glamor to the setting, making it look like a movie set. The gemstones are arranged in such a fashion that they seem organic as if they were part of the natural landscape. The company works backwards to find a perfect design for each customer. The process starts with talking to the client about his vision for the sculpture, understanding the area where it will be displayed, enquiring about the type of gemstones to be used, the overall ambiance that is intended to be portrayed and the budget. Based on this the team works out a price, which varies depending on the design.

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Customization takes place to such an extent that even if a customer shows a photo and asks for replication of a design, it will be modified slightly to make it unique. The cost of a customized gemstone sculpture can range from a few thousands to six figures depending on the size and complexity of the design.

Sabine G introduces a Range of Vintage Jewelry London-based newbie designer Sabine Ghanem, who created her own brand in 2012, has brought out her second collection, which mixes the intricate work of vintage pieces with geometric design and bold colors. The new collection, Harelquin, draws inspiration from vintage jewelry and combines it with geometric designs and bright colors to add a contemporary touch. The collection has rings, bracelets and necklaces that use a combination of stones, including diamonds,


Valoran Real Estate Brokers Issue No. 17 - May. 2014

emeralds and sapphires, with prices ranging from $3,000 to $20,000. Reminiscent of the colors and patterns of the harlequin costume, the collection has a vintage feel. Sabine brings out collections that have a story or theme behind them. The earlier collection – Relic – was focused on medieval romance.

Meridiist Infinite phone from TAG Heuer Charges with Light TAG Heuer’s Meridiist Infinite, which was developed in partnership with French Company SunPartner Technologies, is being displayed at Baselworld 2014. The luxury phone will be the world’s first phone to have photovoltaic charging.

Black-Enamel Painting of Jackson Pollock to go Under American Painter Jackson Pollock, who gained notoriety for the drip technique used in producing many of his paintings, is also well known for his minimal series of paintings referred to as his black-enamel paintings, which featured only black enamel on an unprimed canvas. At the Post-War and Contemporary Art Evening Sale in New York, on May 13th, Christie’s will auction one of the black-enamel masterpieces. The 1951 piece, which is referred to as ‘Number 5’ (Elegant Lady) was first purchased by New York Gallerist and Dealer Martha Jackson in 1956 along with another painting. In 1980, it was purchased by a German energy company, which went on to become a part of the present day E.ON – among the world’s largest investor-owned power and gas companies. ‘Number 5’ is expected to fetch around $15 to $20 million, which may not reach close to Christie’s auction record for a Pollock. Last year, the sale of ‘Number 19’ was concluded for $48 million. However, it is a marked improvement from the $10,000 ceiling that the artist himself didn’t cross during his lifetime.

Battery life is one of the most important factors taken into consideration when buying a new phone and the Meridiist Infinite will use Wysips Crystal technology, which is built into its main screen, to charge the phone whenever it is exposed to either natural or artificial light. 1,911 units of the limited edition phone are set to be released in July. It could well set a trend with its boosted battery life, which might result in more smartphone companies adopting Wysips Crystal technology in the future.

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International Property Markets Estonia The Republic of Estonia is the smallest among the Baltic countries located in Northern Europe. It has Latvia to its south, Russia to the east, the Baltic Sea to its west beyond which lies Sweden, and across the Gulf of Finland in the North is Finland. After five decades of Soviet occupation, the country gained independence in 1991 after the collapse of the Soviet Union. Since then, from being a country that was total cut off from the rest of the world, it has reinvented itself to become a world leader in technology. For the past few years, although the economic growth rate in Estonia has remained slow, like most of Europe, the country has been experiencing a property boom. It is ranked fourth in the world in terms of house price increases, with a 14.5 per cent growth rate between Q4 of 2012 and Q4 of 2013. All the major cities in the country, including the capital Tallinn, witnessed significant price increases during 2013.

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Valoran Real Estate Brokers Issue No. 17 - May. 2014

The country’s highest ever price increases were recorded between 2004 and 2006, when house prices rose by as much as 36 per cent. Subsequently, in 2007, they fell drastically, coinciding with the global financial meltdown. Recovery began in the second half of 2010. Since the country’s entry into the Euro Zone in 2011, foreign investors have been showing increased interest in investing in Estonian property. The forecast for economic growth in the country is also positive. However, with the housing recovery comes the fear of a crash, as the last time that the market saw such high price increases it was followed by a collapse.

Residential Market Most of the residential activity in Estonia is concentrated around the capital Tallinn, which accounts for around half of the concluded transactions. In 2012, average price per square meter of apartments in Tallinn rose by 6.5 per cent to reach €1,132 per square meter. The highest price increases were for new apartments in good locations, and the majority of the transactions in 2012 took place in the city center. Apartment buildings with views or better facilities fetched higher prices with new apartments in the city center often going for as much as €2,600 per square meter. New apartments in the city center cost between €1,800 and €3,000 per square meter, while those in the suburbs fetched around €1,200 to €1,800. In the Old Town, larger old apartments that were well-renovated cost between €2,000 and €3,000 per square meter.

except for government owned property. As a result, investors also need to consider the problems that might arise in evicting tenants upon termination of a lease. Foreigners who want to buy property in Estonia can do so freely after getting prior permission from the authorities. However, there are restrictions on purchasing forest land and agricultural land that are larger than 10 hectares. Foreigners are also not allowed to buy property on the smaller islands or in areas close to the border. Round trip transactions costs for purchasing property in Estonia are very low – between 2.57 per cent to 5.59 per cent. Non-residents are taxed on any income received from Estonian sources, which includes income from rent and capital gains. Tax on income is levied at a flat rate of 21 per cent. There is no inheritance tax in Estonia, but any gains from the transfer of property are subject to income tax in the hands of the heir. Tallinn, Estonia

In 2012, around 400 new apartments were completed, and construction commenced for another 500. However, cost of construction rose by 20 per cent, which was higher than the sales prices increase of 10-15 per cent. As a result several projects came to a halt as it became unviable for developers to make profits. Depending on the location, rental yields for apartments in Tallinn were between 5 per cent and 6 per cent in 2012, which are not attractive from an investment perspective. In addition, residential leases in Estonia do not come under Rent Control,

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Transaction Costs Who Pays?

Realtor’s Fee

2% - 4%

Buyer

Nortary Fees

0.02% - 0.70% (+20% VAT)

Buyer

Stamp Duty

0.3% - 0.5%

Buyer

Registration Fee

0.25%

Buyer

Costs paid by buyer

2.57% - 5.59%

Costs paid by seller

nil

Round-trip Transaction Costs

2.57% - 5.59%

After several years of inactivity, around 20,000 square meters was added to the office property sector. However, much of the new addition was constructed for Government organizations. Vacancy rate for A-Class office space was around 4 per cent, while B-Class vacancy was as high as 20 to 25 per cent in some buildings. With office tenants expecting more modern offices, landlords need to invest significantly in renovation and modernization in order to retain tenants. Office rents were relatively stable in 2012 compared to the previous year. A-Class office rents were between €9.50 and €13.0 per square meter and from €5.00 to €8.00 per square meter for B-Class space.

Source: Global Property Guide

Office Market In 2012, there was a rising demand for A-Class office space in Estonia as an increased number of clients looked for more modern office space. Most of this demand came from representatives of foreign companies that wanted to set up offices in Estonia.

Around 44,000 square meters of new office space was expected to be added in 2013 through 5 projects that would increase the city’s supply by 8 per cent.

Knigh Frank Global House Price Index Rank

1 2 3 4 5 6 7 8 9 10

18

Country

Dubai, UAE China Taiwan Estonia Turkey Brazil Colombia Germany United States Poland

12 - Month % Change

6 - Month % Change

(Q4 2012-Q4 2013)

(Q2 2013-Q4 2013)

34.8% 27.5% 15.1% 14.5% 13.8% 12.7% 11.5% 11.5% 11.3% 10.2%

15.3% 10.8% 2.9% 5.3% 5.7% 6.6% 4.1% 5.6% 2.8% 9.0%

3 - Month % Change

(Q3 2013-Q4 2013)

NA 5.0% 2.0% 3.0% 2.9% 3.5% 1.8% 1.9% -0.3% 6.4%


Valoran Real Estate Brokers Issue No. 17 - May. 2014

Total A class office space, sqm 300 k

250 k

200 k

150 k

100 k

50 k

2013 F

2012

2011

2010

2009

2008

2007

2006

2005

2004

2003

2002

2001

2000

0

Source: Ober-Haus Real Estate Advisors

A class office rents, â‚Ź/sqm 20

18

16

14

12

2013

2012

2011

2010

2009

2008

2007

2006

2005

2004

2003

2002

2001

2000

1999

1998

10

8

Source: Ober-Haus Real Estate Advisors

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A class office vacancy rate, % 15

12

9

6

3

Source: Ober-Haus Real Estate Advisors

Tallinn, Estonia

20

2013

2012

2011

2010

2009

2008

2007

2006

2005

2004

2003

2002

2001

0


Valoran Real Estate Brokers Issue No. 17 - May. 2014

Outlook Due to its stable economy, Estonia can be looked at as a favorable destination for property investment. However, with the surge in property prices comes the fear of a collapse, especially since the country witnessed a similar boom and crash prior to the global financial crisis. The strong economic policies facilitate flexibility and openness in transactions, which make the country’s economic climate favorable for doing business. Besides this, the move to the Euro currency in 2011, has further added to its growth prospects. International credit agencies, including Moody’s and Standard & Poor have rated Estonia’s growth outlook as stable (Moody’s A1 and S&P AA-). According to data from Statistics Estonia, the country’s Real Growth of GDP was 3.2 per cent in 2012 and was expected to stabilize at 3.5 per cent between 2014 and 2017. With a positive economic outlook, investment in property in Estonia can be relatively safe, but at present, the rental yields are not attractive enough. The addition of new stock might bring down prices and push up rentals yields, but unless measures are taken to control the rising cost of construction, the situation is likely to remain unchanged.

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Real Estate Investing Lesson 15

Closing the Transaction Part II: The Final The Basics of Being a Good Landlord – Part I Once you have completed the final stages of closing the transaction and taking over the property from the previous owner, you will need to rent it in order to earn from it. Being a landlord is not as easy as it appears, and often, property owners make small mistakes that might end up costing them dearly. In this month’s lesson, we will focus on a few guidelines that will make the job simpler.

22


Valoran Real Estate Brokers Issue No. 17 - May. 2014

One of the first questions that you will have to ask yourself is whether you can manage the property on your own or hire a manager to do things on your behalf. Some owners enjoy doing things on their own, including tasks such as painting, cleaning, repairs and rent collection, while others prefer to delegate some if not all the tasks. Sometimes the enthusiasm of being a new property owner can make a landlord get carried away and opt for managing the property only to have some issues crop up. If you enjoy Do-It-Yourself and have a lot of time on your hands, managing the property without help can save the money spent on fees to a professional. On the other hand, hiring a manager might save costs in the long term as the property would be professionally maintained, thereby reducing the cost of wear and tear. Several factors could influence the decision.

could be called upon to manage a crisis even on the weekends. Not everyone has skills such as painting, repairing and accounting let alone the personality for dealing with tenants or negotiating with them. If you don’t want to be disturbed for small repairs or maintenance jobs, using the service of a property manager is recommended. If you answer in the affirmative to all the above questions, then you might be able to manage your property efficiently. Otherwise, you will need to hire a manager. Choosing a Property Manager Just as you did before buying your property, you need to research property managers, whether they are companies or individuals. When you get

t %P ZPV IBWF UIF UJNF UP TQFOE PO NBOBHJOH UIF QSPQFSUZ If your main income is from rentals, and you have several properties to manage, you may have the expertise to be a manager, but more importantly, assess whether you have the time for it. t 8JMM TFMG NBOBHFNFOU BDUVBMMZ TBWF ZPV NPOFZ Compare the hourly cost saved in self-managing the property with the hourly income from your regular job to get a fair idea as to whether the extra effort is worth your time. For instance, if your earnings per hour in your job is $60, and you save only $20 by self-managing a property, clearly the amount saved doesn’t justify the time that you would have to take off from your work schedule. t %P ZPV IBWF UIF OFDFTTBSZ TLJMMT UP CF B HPPE QSPQFSUZ NBOBHFS Make an honest assessment of whether or not your skills and personality are suited for the property manager’s job. Bear in mind that you

a lead from a friend, neighbor or even your agent, you should cross check the references. Besides making phone calls to other landlords who have used the services of the same manager, interview the specific person from the company’s office, who would be dealing with you, and check all the necessary licenses and credentials for ensuring that everything is as it seems. Only hire once you feel comfortable that your property will be in good hands.

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Every tenancy is supported by a rental agreement between the tenant and the landlord. When you are giving out your property on rent, besides deciding on the rent amount, you need to have a clear understanding in writing that lists the various policies or guidelines of using the property, in addition to specifying the term of the lease. Some landlords prefer a month-to-month agreement, which automatically gets renewed each month unless either party gives a 30-day notice for terminating the tenancy. The advantage of this type of tenancy is that you can increase rents to meet market rates, instead of having to wait for the conclusion of the tenancy period as in the case of a long term lease. However, it does come with the uncertainty or risk of a tenant moving out with just one month’s notice, which may not leave sufficient time for finding a replacement tenant to ensure that your property keeps earning.

24

Fixed term leases are more popular for commercial and retail leases, although they can be used for residential accommodation that a company pays for on behalf of its employee. It sets a specific period for which the property will be rented. The disadvantage of this type of agreement is that the rent cannot be increased during the lease period.

A security deposit acts as a financial safeguard for the landlord in the event of the property not being used as per expected norms. Usually, it is collected in advance before the tenant moves in and held until the final inspection after he moves out. The deposit can be used not only to recover monthly rents, if the tenant falls behind in payments, but also to repair any damages caused to the property by the tenant.


Valoran Real Estate Brokers Issue No. 17 - May. 2014

Usually, every state or country has its own norms or laws on the amount of security deposit that can be collected. As a landlord, it’s always best to collect as big a deposit as the market allows as it not only helps in recovering costs in the event of something going wrong, but also earns interest for you while it sits in the bank during the period of the lease.

It’s in the best interests of every landlord to lay down clear guidelines or house rules that define expectations in terms of the maintenance or use of the property. For instance, many landlords specify a pet policy that restricts the size or number of pets that can be accommodated in the apartment, to keep maintenance and repairs to the minimum.

Similarly, there could be expectations on reimbursement of costs of small repairs that the tenant incurs. Defining the policies lets the tenants know about the rules that they are expected to follow so that there are no misunderstandings and no major repair and maintenance required in the long term. This lesson gives a basic idea of the different things to be looked at before giving out your property for rent. In next month’s issue, we will cover the details of finding trustworthy tenants and negotiating with them.

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Properties of the month JLT

Madinah Tower 3 bed apartment

3,087 sq. ft.

AED 4,400,000

AP1373

Business Bay

Business Tower Commercial Space

1,200 sq. ft.

AED 1,550,000

837.11 sq. ft.

AED 100,453

2 bed apartment

Palm Jumeirah

4,170 sq. ft.

AED 6,000,000

AP1120

Dubai Marina

Sulafa Tower 1 bed apartment

4 bed apartment

VI1345

Mehdi 055 5075040

Commercial Space

OF1369

NT

26

Business Bay

Bayswater

RE

LE

SA For above listed properties contact

LE

LE Emirates Living

Meadows 4

AP1344

SA

AED 4,000,000

SA

2,022 sq. ft.

E

E

Balqis Residence

OF1086

L SA

AED 1,200,000

L SA

1,214 sq. ft.


Valoran Real Estate Brokers Issue No. 17 - May. 2014

Properties of the month JLT

Lake View Tower 1 bed apartment

1,390 sq. ft.

AED 1,500,000

AP1230

Business Bay

Bayswater Commercial Space

12,780 sq. ft.

AED 20,000,000

L SA

L SA

1 bed apartment

778 sq. ft.

AED 3,400,000

AP1111

E

E Down Town

The Address Dubai Mall Hotel

JLT

Global Lake View Studio

460 sq. ft.

AED 850,000

1,250 sq. ft.

AED 3,300,000

AP1371

LE

2 bed apartment

AP1314

SA

LE

SA Down Town

Standpoint Tower A

CB1356

Executive Tower B 1 bed apartment

1,356 sq. ft.

Business Bay AED 1,950,000

AP1302

LE

SA

LE

SA For above listed properties contact

Mehdi 055 5075040

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Properties of the month Dubai Marina

Le Reve 4 bed apartment

5,821 sq. ft.

AED 25,000,000

AP1389

The Greens

Golf Tower 2 2 bed apartment

1,526 sq. ft.

AED 3,600,000

3 bed apartment

2,152 sq. ft.

Dubai Marina AED 4,200,000

AP1352

E

E

Al Fattan Tower 2

Dubai Marina

Al Mass Tower 2 bed apartment

4,564 sq. ft.

Palm Jumeirah AED 11,341,845

AP1391

Alex 055 5075020

3 bed apartment

2,618 sq. ft.

Emirates Living AED 4,500,000

VI1153

LE

28

The Lakes, Zulal

SA

LE

SA For above listed properties contact

LE

4 bed apartment

AP1427

SA

LE

SA

Fairmont Residence

AP1423

L SA

AED 2,800,000

L SA

1,318 sq. ft.


Valoran Real Estate Brokers Issue No. 17 - May. 2014

Properties of the month Dubai Marina

The Address Dubai Marina 1 bed apartment

4,100 sq. ft.

AED 7,800,000

AP1227

Jumeirah

Jumeirah Park 3 bed apartment

8,800 sq. ft.

AED 4,900,000

2,272 sq. ft.

AED 3,400,000

4 bed apartment

VI1398

E

E Emirates Living

Meadows 1

Emirates Living

Springs 4 3 bed apartment

LE

LE

Residential Plot

268,204 sq. ft.

AED 27,000,000

RL1407

VI1240

SA

SA Jumeirah Village, G+unlimited – District 12

VI1357

L SA

AED 2,700,000

L SA

1,046 sq. ft.

Jumeirah Islands, G+1 – Full Lake view Residential Plot

11,850 sq. ft.

AED 11,500,000

RL1405

LE

SA

LE

SA For above listed properties contact

Alex 055 5075020

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Properties of the month Palm Jumeirah

Kempinski Villa 5 bed apartment

12,277 sq. ft.

AED 25,500,000

VI1418

Jumeirah

Jumeirah Park 4 bed apartment

4,200 sq. ft.

AED 9,900,000

2 bed apartment

2,690 sq. ft.

Jumeirah Village AED 3,090,000

VI1301

E

E

Jumeirah Village Circle

Palm Jumeirah

Canal Cove 4 bed apartment

2,197 sq. ft.

Business Bay AED 3,405,350

AP1388

Alex 055 5075020

3 bed apartment

3,464 sq. ft.

The Greens AED 4,600,000

VI1319

LE

30

Golf Tower Canal Villas T2

SA

LE

SA For above listed properties contact

LE

3 bed apartment

VI1397

SA

LE

SA

Executive Tower K

VI1321

L SA

AED 6,150,000

L SA

4,335 sq. ft.


Valoran Real Estate Brokers Issue No. 17 - May. 2014

Properties of the month Business Bay

Bayswater Commercial Space

7,500 sq. ft.

AED 15,000,000

1,075 sq. ft.

AED 79,000

OF1409

Emirates Living

Tanaro 2 bed apartment

1,364 sq. ft.

AED 2,300,000

4 bed apartment

VI1083

E

E Al Barsha

Barsha 2

The Address Dubai Mall Hotel 1 bed apartment

Downtown AED 3,700,000

1,407 sq. ft.

AED 168,000

LE

LE

Studio

AP1340

AP1215

SA

683 sq. ft.

SA JLT

Saba 3

AP1280

L SA

AED 993,000

L SA

764.24 sq. ft.

Business Bay

Al Manara Commercial Space

OF1400

NT

RE

NT

RE For above listed properties contact

Benny 052 6474292

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TWO TOWERS

t t t t t t

t t t t t t t

Unique and modern spacious 1B/R and 2B/R apartments available in Two Towers - Tecom, graced with contemporary European fittings, perfectly suited to accommodate premium lifestyle in Dubai. Two Towers provide its residents easy access to business hubs such as Dubai Media City and Knowledge Village as well as areas such as Palm Jumeirah and Dubai Marina, Mall of the Emirates and Ibn Battuta mall. You’ll find you’re never too far from work, play, or rest and direct access to Al Khail Road and Sheikh Zayed Road make it easy to reach places farther afield.

32

5XP SFTJEFOUJBM UPXFST XJUI B TIBSFE DPVSUZBSE (ZNOBTJVN 4XJNNJOH 1PPM XJUI PVUEPPS terrace area and landscaped sun deck 5ISFF MFWFM TFDVSF CBTFNFOU QBSLJOH XJUI single point access 7FIJDMF ESPQ Pò QPJOU BU CVJMEJOH FOUSBODF lobby 3PVOE UIF DMPDL BEWBODFE TFDVSJUZ TZTUFN 1SPYJNJUZ UP .FUSP 4UBUJPO BOE XPSME DMBTT Shopping Malls

)VHF CBMDPOJFT PòFSJOH QBOPSBNJD WJFXT )JHI DFJMJOHT 4PMJE NBSCMF 4MBUF BOE 1BSRVFU 'MPPSJOH *UBMJBO 8BSESPCFT BOE ,JUDIFO $BCJOFUT (FSNBO 2VBMJUZ 8IJUF (PPET &OFSHZ FĂłDJFOU $FOUSBM XBUFS IFBUJOH TZTUFN – resulting in substantial savings in electricity bills $FOUSBMJ[FE "JS $POEJUJPOJOH GSPN PO TJUF Chillers – again resulting in huge savings.

Prices start from AED 1,380,868 for 1 B/R apartment, AED 1,788,574 for 2 B/R apartment and AED AED 2,661,269 for Penthouse with financing option for 10 years. Community

Tecom - Barsha

Property Name

Two Towers

Price starting from (AED)

1,380,868

1,788,574

Number of Bedroom(s)

1

2

2,661,269 1(Loft)

BUA (in Sq.ft.)

1,318

1,745

2,451

Reference Number

AP1338

AP1339

AP1375

Contact Number

04 332 2248


Valoran Real Estate Brokers Issue No. 17 - May. 2014

T W O

T O W E R S

ONE B EDROOM F L O O R P L A N

LAUNDRY

LIV I N G/DI NI N G ROOM KITCH EN

EN TR AN CE

GU EST BE DROOM

EN S. 1

2

TYPICAL FLOORS: 3RD TO 21ST

1

3

6

UNITS 3 & 6: 1 BEDROOM APARTMENT UNITS: 1, 2, 4 & 5: 2 BEDROOM APARTMENT 4

5

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T W O

T O W E R S

TWO BEDROO M F L O O R P L A N

KITCH EN L IVING/ DI NING ROO M

ENT RANC E

GUE ST

LAUNDRY

BEDROO M II

ENS. II

BEDROO M

ENS. I

2

1

3

6

TYPICAL FLOORS: 3RD TO 21ST UNITS 3 & 6: 1 BEDROOM APARTMENT UNITS: 1, 2, 4 & 5: 2 BEDROOM APARTMENT 4

34

5


Valoran Real Estate Brokers Issue No. 17 - May. 2014

T W O

T O W E R S

PE NT HO USE A F L O O R P L A N

BEDRO OM VANIT Y DRESSING ROOM

ENSUI T E OPEN TO BELOW

KI TCHEN UPPER F LO OR L AUN DRY

DI NI NG ROOM

ENT RANCE

GU EST BAT H

LI VING ROOM

LOW ER FLOOR

PENTHOUSE FLOORS: 22/23/24

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‫ﺗﺤﺪﻳﺪ ﻗﻴﻤﺔ ودﻳﻌﺔ اﻟﺘﺄﻣني‬

‫ﺗﺤﺪﻳﺪ اﻟﺴﻴﺎﺳﺎت واﳌﺒﺎدئ اﻟﺘﻮﺟﻴﻬﻴﺔ‬

‫ﺗﻌﻤﻞ ودﻳﻌﺔ اﻟﺘﺄﻣني ﻛﻀامن ﻣﺎﱄ ﻟﻠامﻟﻚ إذا مل ﻳﺘﻢ اﺳﺘﺨﺪام اﻟﻌﻘﺎر‬ ‫وﻓﻘﺎً ﻟﻠﻤﻌﺎﻳري اﳌﺘﻮﻗﻌﺔ‪ .‬ﻋﺎدة‪ ،‬ﻳﺘﻢ دﻓﻌﻬﺎ ﻗﺒﻞ إﻧﺘﻘﺎل اﳌﺴﺘﺄﺟﺮ ﻟﻠﻌﻴﺶ‬ ‫ﰲ اﳌﻜﺎن وﻳﺘﻢ اﻹﺣﺘﻔﺎظ ﺑﻬﺎ إﱃ ﻣﺎ ﺑﻌﺪ اﳌﻌﺎﻳﻨﺔ اﻟﻨﻬﺎﺋﻴﺔ ﺑﻌﺪ ﺗﺮﻛﻪ‬ ‫ﻟﻠﻤﻜﺎن‪ .‬ميﻜﻦ إﺳﺘﺨﺪام اﻟﻮدﻳﻌﺔ ﰲ ﺗﺤﺼﻴﻞ اﻹﻳﺠﺎرات اﻟﺸﻬﺮﻳﺔ‪ ،‬إذا‬ ‫ﺗﺨﻠﻒ اﳌﺴﺘﺄﺟﺮ ﻋﻦ اﻟﺪﻓﻊ‪ ،‬ﻛام ميﻜﻦ إﺳﺘﺨﺪاﻣﻬﺎ أﻳﻀﺎ ﻹﺻﻼح أي‬ ‫أﴐار ﺗﻠﺤﻖ ﺑﺎﻟﻌﻘﺎر ﻣﻦ ﻗﺒﻞ اﳌﺴﺘﺄﺟﺮ‪.‬‬

‫ﻣﻦ ﻣﺼﻠﺤﺔ ﻛﻞ ﻣﺎﻟﻚ وﺿﻊ ﻣﺒﺎدئ ﺗﻮﺟﻴﻬﻴﺔ واﺿﺤﺔ أو ﻗﻮاﻋﺪ اﳌﻨﺰل‬ ‫اﻟﺘﻲ ﺗﺤﺪد اﻟﺘﻮﻗﻌﺎت ﻣﻦ ﺣﻴﺚ ﺻﻴﺎﻧﺔ أو اﺳﺘﺨﺪام اﻟﻌﻘﺎر‪ .‬ﻋﲆ ﺳﺒﻴﻞ‬ ‫اﳌﺜﺎل‪ ،‬ﻳﺤﺪد اﻟﻌﺪﻳﺪ ﻣﻦ اﳌﻼك ﺳﻴﺎﺳﺔ اﻟﺤﻴﻮاﻧﺎت اﻷﻟﻴﻔﺔ اﻟﺘﻲ ﺗﻘﻴﺪ‬ ‫ﺣﺠﻢ أو ﻋﺪد اﻟﺤﻴﻮاﻧﺎت اﻷﻟﻴﻔﺔ اﻟﺘﻲ ميﻜﻦ اﺳﺘﻴﻌﺎﺑﻬﺎ ﰲ اﻟﺸﻘﺔ‪،‬‬ ‫ﻟﻠﺤﻔﺎظ ﻋﲆ اﻟﺼﻴﺎﻧﺔ واﻹﺻﻼح ﻋﻨﺪ اﻟﺤﺪ اﻷدىن‪ .‬وﺑﺎﳌﺜﻞ‪ ،‬ميﻜﻦ أن‬ ‫ﺗﻜﻮن ﻫﻨﺎك ﺗﻮﻗﻌﺎت ﻹﺳﱰداد ﺗﻜﺎﻟﻴﻒ اﻹﺻﻼﺣﺎت اﻟﺼﻐرية اﻟﺘﻲ‬ ‫ﻳﺘﻜﺒﺪﻫﺎ اﳌﺴﺘﺄﺟﺮ‪ .‬ﺗﺤﺪﻳﺪ اﻟﺴﻴﺎﺳﺎت ﻳﺘﻴﺢ ﻟﻠﻤﺴﺘﺄﺟﺮﻳﻦ اﻟﺘﻌﺮف ﻋﲆ‬ ‫اﻟﻘﻮاﻋﺪ اﻟﺘﻲ ﻳﺠﺐ ﻋﻠﻴﻬﻢ إﺗﺒﺎﻋﻬﺎ ﻟﻌﺪم ﺣﺪوث ﺳﻮء ﻓﻬﻢ أو إﺻﻼﺣﺎت‬ ‫او ﺻﻴﺎﻧﺔ ﻛﱪى ﻋﲆ اﳌﺪى اﻟﻄﻮﻳﻞ‪.‬‬

‫ﻋﺎدة‪ ،‬ﻛﻞ وﻻﻳﺔ أو ﺑﻠﺪ ﻟﺪﻳﻪ اﳌﻌﺎﻳري أو اﻟﻘﻮاﻧني اﻟﺨﺎﺻﺔ اﻟﺘﻲ ﺗﺤﺪد‬ ‫ﻗﻴﻤﺔ ﻣﺒﻠﻎ اﻟﺘﺄﻣني اﻟﺬي ﻳﺠﺐ دﻓﻌﻬﺎ‪ .‬ﺑﺈﻋﺘﺒﺎرك اﳌﺎﻟﻚ‪ ،‬ﻳﻔﻀﻞ دامئﺎ‬ ‫ﺗﺤﺼﻴﻞ أﻛﱪ ﻗﻴﻤﺔ ﺗﺄﻣﻴﻨﻴﺔ ﺗﺴﻤﺢ ﺑﻬﺎ اﻟﺴﻮق ﻷﻧﻬﺎ ﺗﺴﺎﻋﺪ ﻟﻴﺲ ﻓﻘﻂ‬ ‫ﰲ اﺳﱰداد اﻟﺘﻜﺎﻟﻴﻒ ﰲ ﺣﺎل ﺣﺪوث ﳾء ﻋﲆ ﻧﺤﻮ ﺧﺎﻃﺊ‪ ،‬وﻟﻜﻨﻬﺎ‬ ‫ﺗﺤﻘﻖ ﻓﺎﺋﺪة ﻟﻚ ﻋﻨﺪ وﺟﻮدﻫﺎ ﰲ اﻟﺒﻨﻚ ﺧﻼل ﻓﱰة اﻹﻳﺠﺎر أﻳﻀﺎً‪.‬‬

‫ﻫﺬا اﻟﺪرس ﻳﻌﻄﻲ ﻓﻜﺮة أﺳﺎﺳﻴﺔ ﺣﻮل ﻣﺨﺘﻠﻒ اﻷﺷﻴﺎء اﻟﺘﻲ ﻳﻨﺒﻐﻲ‬ ‫وﺿﻌﻬﺎ ﰲ اﻹﻋﺘﺒﺎر ﻗﺒﻞ ﺗﺄﺟري ﻋﻘﺎراﺗﻚ‪ .‬ﰲ درس اﻟﺸﻬﺮ اﳌﻘﺒﻞ‪ ،‬ﺳﻮف‬ ‫ﻧﻐﻄﻲ ﺗﻔﺎﺻﻴﻞ اﻟﻌﺜﻮر ﻋﲆ اﳌﺴﺘﺄﺟﺮﻳﻦ اﻟﺠﺪﻳﺮﻳﻦ ﺑﺎﻟﺜﻘﺔ واﻟﺘﻔﺎوض‬ ‫ﻣﻌﻬﻢ‪.‬‬

‫‪25‬‬


‫‪- 17‬‬

‫‪2014‬‬

‫اﻟﻄﻮﻳﻞ‪ .‬وﻣﻊ ذﻟﻚ‪ ،‬ﻓﺈﻧﻪ ﻳﻀﻊ ﺑﻌﺾ اﻟﺸﻜﻮك أو ﺧﻄﺮ ﺗﺮك اﳌﺴﺘﺄﺟﺮ‬ ‫ﻟﻠﻌﻘﺎر ﻣﻊ إﺧﻄﺎر ﻗﺒﻞ ‪ 30‬ﻳﻮم ﻓﻘﻂ‪ ،‬واﻟﺘﻲ ﻗﺪ ﻻ ﺗﱰك وﻗﺘﺎً ﻛﺎﻓﻴﺎً‬ ‫ﻹﻳﺠﺎد ﻣﺴﺘﺄﺟﺮ ﺑﺪﻳﻞ ﻟﻀامن ﺗﺤﻘﻴﻖ ﻋﺎﺋﺪات إﻳﺠﺎرﻳﺔ ﻣﻦ اﻟﻌﻘﺎر‪.‬‬ ‫ﻋﻘﻮد اﻹﻳﺠﺎر ﳌﺪة ﻣﺤﺪدة ﻫﻲ اﻷﻛرث إﻧﺘﺸﺎرا ً ﻟﻌﻘﻮد اﻹﻳﺠﺎر اﻟﺘﺠﺎرﻳﺔ‬ ‫واﻟﺘﺠﺰﺋﺔ‪ ،‬ﻋﲆ اﻟﺮﻏﻢ ﻣﻦ أﻧﻬﺎ ﻗﺪ ﺗﺴﺘﺨﺪم ﻷﻣﺎﻛﻦ اﻹﻗﺎﻣﺔ اﻟﺴﻜﻨﻴﺔ‬ ‫اﻟﺘﻲ ﺗﺪﻓﻊ ﻣﻘﺎﺑﻠﻬﺎ اﻟﴩﻛﺔ ﻧﻴﺎﺑﺔ ﻋﻦ ﻣﻮﻇﻔﻴﻬﺎ‪ .‬وﺗﺤﺪد ﻓﱰة زﻣﻨﻴﺔ‬ ‫ﻣﺤﺪدة ﻳﺘﻢ ﻓﻴﻬﺎ ﺗﺄﺟري اﻟﻌﻘﺎر‪ .‬ﻋﻴﺐ ﻫﺬا اﻟﻨﻮع ﻣﻦ اﻻﺗﻔﺎﻗﺎت ﻫﻮ أن‬ ‫اﻹﻳﺠﺎر ﻻ ميﻜﻦ زﻳﺎدﺗﻪ ﺧﻼل ﻓﱰة اﻹﻳﺠﺎر‪.‬‬

‫ﺗﺤﺪﻳﺪ ﻗﻴﻤﺔ اﻹﻳﺠﺎر‬ ‫ﻫﻨﺎك ﻧﻮﻋﺎن ﻣﻦ اﻷﺳﺎﻟﻴﺐ اﻟﺘﻲ ميﻜﻨﻚ اﺗﺒﺎﻋﻬﺎ ﻟﺘﺤﺪﻳﺪ ﻗﻴﻤﺔ اﻹﻳﺠﺎر‬ ‫ﻟﻌﻘﺎراﺗﻚ‪ .‬ﻳﺴﺘﻨﺪ اﻷول ﻋﲆ اﻟﻌﺎﺋﺪ ﻋﲆ اﻻﺳﺘﺜامر‪ ،‬ﺣﻴﺚ ﻳﺘﻢ ﺣﺴﺎب‬ ‫اﻟﺘﻜﺎﻟﻴﻒ اﻟﺸﻬﺮﻳﺔ اﻟﺜﺎﺑﺘﺔ ﻣﻦ ﺗﺸﻐﻴﻞ وﺻﻴﺎﻧﺔ اﻟﻌﻘﺎر وإﺿﺎﻓﺔ ﻋﺎﺋﺪاﺗﻚ‬ ‫اﻟﺸﻬﺮﻳﺔ اﳌﺘﻮﻗﻌﺔ ﻋﲆ اﻻﺳﺘﺜامر‪ .‬ﻋﲆ ﺳﺒﻴﻞ اﳌﺜﺎل‪ ،‬إذا ﻛﺎﻧﺖ ﺗﻜﺎﻟﻴﻒ‬

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‫اﻟﺼﻴﺎﻧﺔ اﻟﺸﻬﺮﻳﺔ ﺣﻮاﱄ ‪ 1,000‬دوﻻر وﻋﺎﺋﺪك اﳌﺘﻮﻗﻊ ﻋﲆ اﻻﺳﺘﺜامر‬ ‫ﰲ اﻟﺸﻬﺮ ﻫﻮ ‪ 300‬دوﻻر )اﺳﺘﻨﺎدا إﱃ ﻋﺎﺋﺪ ‪ 10‬ﰲ اﳌﺎﺋﺔ ﺳﻨﻮﻳﺎً ﻋﲆ‬ ‫اﻻﺳﺘﺜامر ﻣﻦ ‪ 36،000‬دوﻻر(‪ ،‬ﻳﻜﻮن اﻻﻳﺠﺎر اﳌﻌﻘﻮل ‪ 1,300‬دوﻻر‬ ‫ﺷﻬﺮﻳﺎً‪.‬‬ ‫وﻣﻊ ذﻟﻚ‪ ،‬ﺗﺨﺘﻠﻒ اﻹﻳﺠﺎرات اﻟﺘﻲ ﻳﺘﻢ ﺣﺴﺎﺑﻬﺎ ﺑﺎﺳﺘﺨﺪام اﻟﻌﺎﺋﺪ ﻋﲆ‬ ‫اﻻﺳﺘﺜامر ﻋﻦ اﻹﻳﺠﺎرات اﻟﻔﻌﻠﻴﺔ ﻟﻌﻘﺎرات ﻣامﺛﻠﺔ‪ .‬ﻟﺬﻟﻚ ﻳﻌﺪ ﻣﺴﺢ‬ ‫اﻳﺠﺎرات اﻟﺴﻮق ﻟﻌﻘﺎرات ﻣامﺛﻠﺔ ﻫﻮ ﻧﻬﺞ أﻛرث واﻗﻌﻴﺔ ﻟﺘﺤﺪﻳﺪ‬ ‫اﻹﻳﺠﺎرات‪ .‬ﻧﺄﺧﺬ ﰲ اﻻﻋﺘﺒﺎر أﻧﻪ ﻗﺪ ﻳﻜﻮن ﻣﻦ اﳌﺴﺘﺤﻴﻞ اﻟﻌﺜﻮر ﻋﲆ‬ ‫ﻋﻘﺎرات ﻣامﺛﻠﺔ ﻟﻌﻘﺎرك ﻣﻦ ﺣﻴﺚ اﳌﻮﻗﻊ‪ ،‬اﳌﺮاﻓﻖ واﻟﻌﻤﺮ‪ .‬ﻟﺬﻟﻚ‪ ،‬ﻗﻢ‬ ‫ﺑﻀﺒﻂ اﻹﺧﺘﻼﻓﺎت ﻗﺒﻞ ﺗﺤﺪﻳﺪ اﻹﻳﺠﺎر‪ .‬ﻋﲆ ﺳﺒﻴﻞ اﳌﺜﺎل‪ ،‬ﺗﺄﺟري وﺣﺪة‬ ‫ﻣﻜﻮﻧﺔ ﻣﻦ ﻏﺮﻓﺘﻲ ﻧﻮم ﺗﺮﻳﺪ ﰲ ﻋامرة ﺳﻜﻨﻴﺔ‪ ،‬ميﻜﻨﻚ ﻣﻌﺮﻓﺔ اﻟﻘﻴﻤﺔ‬ ‫اﻻﻳﺠﺎرﻳﺔ ﻷﺣﺪث وﺣﺪة ﻣﻜﻮﻧﺔ ﻣﻦ ﻏﺮﻓﺘﻲ ﻧﻮم ﺗﻢ ﺗﺄﺟريﻫﺎ ﻣﺆﺧﺮا ً‬ ‫وﺗﻄﻠﺐ ﻧﻔﺲ ﻣﺒﻠﻎ اﻹﻳﺠﺎر‪ .‬وﻣﻊ ذﻟﻚ‪ ،‬إذا ﻛﺎﻧﺖ وﺣﺪﺗﻚ ﺗﻄﻞ ﻋﲆ‬ ‫ﺣﻮض اﻟﺴﺒﺎﺣﺔ أو ﻋﲆ ﴍﻓﺔ إﺿﺎﻓﻴﺔ‪ ،‬ميﻜﻨﻚ ﻃﻠﺐ ﻣﻘﺎﺑﻞ إﺿﺎﰲ‬ ‫ﻟﺬﻟﻚ‪.‬‬


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‫اﺧﺘﻴﺎر ﻣﺪﻳﺮ اﻟﻌﻘﺎر‬

‫أﺣﺪ أول اﻷﺳﺌﻠﺔ اﻟﺘﻲ ﺳﻮف ﺗﻀﻄﺮ إﱃ أن ﺗﻄﺮﺣﻬﺎ ﻋﲆ ﻧﻔﺴﻚ ﻫﻮ ﻣﺎ‬ ‫إذا ﻛﺎن ﺑﺈﻣﻜﺎﻧﻚ إدارة اﻟﻌﻘﺎر مبﻔﺮدك أو ﺗﻌﻴني ﻣﺪﻳﺮ ﻟﻠﻘﻴﺎم ﺑﺄﻣﻮر‬ ‫ﻧﻴﺎﺑﺔ ﻋﻨﻚ‪ .‬ﺑﻌﺾ اﳌﻼك ﻳﺘﻤﺘﻌﻮن ﺑﺎﻟﻘﻴﺎم ﺑﻬﺬا اﻟﴚء ﺑﺄﻧﻔﺴﻬﻢ‪ ،‬مبﺎ ﰲ‬ ‫ذﻟﻚ اﳌﻬﺎم ﻣﺜﻞ اﻟﺪﻫﺎن‪ ،‬اﻟﺘﻨﻈﻴﻒ‪ ،‬اﻟﺘﺼﻠﻴﺢ و ﺟﻤﻊ اﻹﻳﺠﺎر‪ ،‬ﰲ ﺣني‬ ‫ﻳﻔﻀﻞ اﻟﺒﻌﺾ اﻻﺧﺮ ﺗﻔﻮﻳﺾ ﺷﺨﺺ أﺧﺮ ﻟﻠﻘﻴﺎم ﺑﺒﻌﺾ اﳌﻬﺎم إن مل‬ ‫ﺗﻜﻦ ﻛﻠﻬﺎ‪ .‬أﺣﻴﺎﻧﺎ ﺣامﺳﺔ ﻣﺎﻟﻚ اﻟﻌﻘﺎر اﻟﺠﺪﻳﺪ ميﻜﻦ أن ﺗﺠﻌﻞ اﳌﺎﻟﻚ‬ ‫ﻳﻨﺠﺮف و ﻳﺨﺘﺎر إدارة اﻟﻌﻘﺎر مبﻔﺮده ﻟﺤﻞ ﺑﻌﺾ اﳌﺸﻜﻼت‪ .‬إذا ﻛﻨﺖ‬ ‫ﺗﺘﻤﺘﻊ ﺑﺎﻟﻘﻴﺎم ﺑﺎﻷﺷﻴﺎء ﺑﻨﻔﺴﻚ وﻟﺪﻳﻚ اﻟﻜﺜري ﻣﻦ اﻟﻮﻗﺖ‪ ،‬ميﻜﻦ ﻹدارة‬ ‫اﻟﻌﻘﺎر دون ﻣﺴﺎﻋﺪة أن ﺗﻮﻓﺮ اﻷﻣﻮال اﻟﺘﻲ ﺗﻨﻔﻖ ﻋﲆ رﺳﻮم اﳌﺤﱰﻓني‪.‬‬ ‫ﻣﻦ ﻧﺎﺣﻴﺔ أﺧﺮى‪ ،‬اﻟﺘﻌﺎﻗﺪ ﻣﻊ ﻣﺪﻳﺮ ﻗﺪ ﻳﻮﻓﺮ اﻟﺘﻜﺎﻟﻴﻒ ﻋﲆ اﳌﺪى‬ ‫اﻟﻄﻮﻳﻞ ﺣﻴﺚ أﻧﻪ ﺳﻮف ﻳﻘﻮم ﺑﺎﻟﺤﻔﺎظ ﻋﲆ اﻟﻌﻘﺎر ﺑﺸﻜﻞ إﺣﱰاﰲ‪،‬‬ ‫ﻣام ﻳﻘﻠﻞ ﻣﻦ ﺗﻜﻠﻔﺔ اﻟﺘﻠﻒ واﻟﻌﻄﺐ‪ .‬ﻋﺪة ﻋﻮاﻣﻞ ميﻜﻦ أن ﺗﺆﺛﺮ ﻋﲆ‬ ‫ﻫﺬا اﻟﻘﺮار‪.‬‬

‫متﺎﻣﺎ ﻛام ﻓﻌﻠﺖ ﻗﺒﻞ ﴍاء اﻟﻌﻘﺎر‪ ،‬أﻧﺖ ﺑﺤﺎﺟﺔ ﻟﻠﺒﺤﺚ ﻋﻦ ﻣﺪﻳﺮي‬ ‫اﻟﻌﻘﺎرات‪ ،‬ﺳﻮاء ﻛﺎﻧﻮا ﻣﻦ اﻟﴩﻛﺎت أو اﻷﻓﺮاد‪ .‬ﻋﻨﺪﻣﺎ ﺗﺤﺼﻞ ﻋﲆ‬ ‫ﺗﻮﺻﻴﺔ ﻣﻦ ﺻﺪﻳﻖ‪ ،‬ﺟﺎر أو ﺣﺘﻰ وﻛﻴﻠﻚ‪ ،‬ﻳﺠﺐ ﻋﻠﻴﻚ اﻟﺘﺤﻘﻖ ﻣﻦ‬ ‫اﳌﺮاﺟﻊ‪ .‬إﱃ ﺟﺎﻧﺐ إﺟﺮاء ﻣﻜﺎﳌﺎت ﻫﺎﺗﻔﻴﺔ ﻷﺻﺤﺎب اﻟﻌﻘﺎرات اﻷﺧﺮى‬ ‫اﻟﺬﻳﻦ اﺳﺘﺨﺪﻣﻮا ﺧﺪﻣﺎت ﻧﻔﺲ اﳌﺪﻳﺮ‪ ،‬ﻣﻘﺎﺑﻠﺔ ﺷﺨﺺ ﻣﻌني ﻣﻦ‬ ‫ﻣﻜﺘﺐ اﻟﴩﻛﺔ‪ ،‬اﻟﺘﻲ ﺳﻮف ﺗﺘﻌﺎﻣﻞ ﻣﻌﻚ‪ ،‬واﻟﺘﺤﻘﻖ ﻣﻦ ﻛﻞ اﻟﱰاﺧﻴﺺ‬ ‫وأوراق اﻻﻋﺘامد اﻟﴬورﻳﺔ ﻟﻀامن أن ﻛﻞ ﳾء واﺿﺢ‪ .‬ﻗﻢ ﺑﺎﻟﺘﻌﻴني‬ ‫ﻋﻨﺪﻣﺎ ﺗﺸﻌﺮ ﺑﺎﻟﺮاﺣﺔ وأن ﻋﻘﺎرك ﺳﻮف ﻳﻜﻮن ﰲ أﻳﺪ أﻣﻴﻨﺔ‪.‬‬

‫΃ ‪͉/ YM` / +ʞ ʓ ]` Xs` ^y,` bo‬‬ ‫إذا ﻛﺎن دﺧﻠﻚ اﻟﺮﺋﻴﴘ ﻫﻮ ﻣﻦ اﻻﻳﺠﺎرات‪ ،‬وﻛﺎن ﻟﺪﻳﻚ اﻟﻌﺪﻳﺪ ﻣﻦ‬ ‫اﻟﻌﻘﺎرات ﻟﺘﺪﻳﺮﻫﺎ‪ ،‬ﻗﺪ ﻳﻜﻮن ﻟﺪﻳﻚ اﻟﺨﱪة اﻟﻜﺎﻓﻴﺔ ﻟﺘﻜﻮن ﻣﺪﻳﺮا ً‪ ،‬وﻟﻜﻦ‬ ‫اﻷﻫﻢ ﻣﻦ ذﻟﻚ‪ ،‬ﺗﻘﻴﻴﻢ ﻣﺎ إذا ﻛﺎن ﻟﺪﻳﻚ اﻟﻮﻗﺖ ﻟﺬﻟﻚ‪.‬‬

‫΃ ‪͉ɀ Y$ _ ˯ ^` 0Ts Ss4 z .` / +ʞ bo‬‬ ‫ﻣﻘﺎرﻧﺔ اﻟﺘﻮﻓري ﰲ ﻛﻞ ﺳﺎﻋﺔ ﻋﻤﻞ ﻣﻦ اﻹدارة اﻟﺬاﺗﻴﺔ ﻟﻠﻌﻘﺎر ﻣﻊ دﺧﻞ‬ ‫ﻛﻞ ﺳﺎﻋﺔ ﻣﻦ ﻋﻤﻠﻚ اﻟﻌﺎدي ﻟﻠﺤﺼﻮل ﻋﲆ ﻓﻜﺮة ﺣﻮل ﻣﺎ إذا ﻛﺎن‬ ‫اﻟﺠﻬﺪ اﻹﺿﺎﰲ ﻳﺴﺘﺤﻖ وﻗﺘﻚ‪ .‬ﻋﲆ ﺳﺒﻴﻞ اﳌﺜﺎل‪ ،‬إذا ﻛﺎن دﺧﻠﻚ ﰲ‬ ‫اﻟﺴﺎﻋﺔ ﻣﻦ ﻋﻤﻠﻚ ﻫﻮ ‪ 60‬دوﻻرا ً‪ ،‬و ﻗﻤﺖ ﺑﺘﻮﻓري ﻣﺒﻠﻎ ‪ 20‬دوﻻرا ً ﻓﻘﻂ‬ ‫ﻣﻦ إدارﺗﻚ اﻟﺬاﺗﻴﺔ ﻟﻠﻌﻘﺎر‪ ،‬ﻣﻦ اﻟﻮاﺿﺢ أن اﳌﺒﻠﻎ اﳌﺪﺧﺮ ﻻ ﻳﱪر اﻟﻮﻗﺖ‬ ‫اﻟﺬي ﻳﺠﺐ أن ﺗﺴﺘﻘﻄﻌﻪ ﻣﻦ ﺟﺪول أﻋامﻟﻚ‪.‬‬

‫΃ ‪͉/ YMa` ɀ ,z ɀ 0y,e is] ` e1ʙ` / p˯ ^y,` bo‬‬ ‫إﺟﺮاء ﺗﻘﻴﻴﻢ ﻧﺰﻳﻪ ﻟﺘﻨﺎﺳﺐ ﻣﻬﺎراﺗﻚ وﺷﺨﺼﻴﺘﻚ ﻹدارة اﻟﻌﻘﺎر ﻣﻦ‬ ‫ﻋﺪﻣﻪ‪ .‬ﻧﻀﻊ ﰲ اﻋﺘﺒﺎرﻧﺎ أﻧﻪ ﻗﺪ ﻳﺘﻢ إﺳﺘﺪﻋﺎؤك ﻹدارة أزﻣﺔ ﺣﺘﻰ ﰲ‬ ‫ﻋﻄﻠﺔ ﻧﻬﺎﻳﺔ اﻷﺳﺒﻮع‪ .‬ﻻ ﻳﺘﻤﺘﻊ اﻟﺠﻤﻴﻊ مبﻬﺎرات ﻣﺜﻞ اﻟﺪﻫﺎن‪ ،‬اﻹﺻﻼح‬ ‫واﳌﺤﺎﺳﺒﺔ ﻧﺎﻫﻴﻚ ﻋﻦ ﺷﺨﺼﻴﺔ ﻟﻠﺘﻌﺎﻣﻞ ﻣﻊ اﳌﺴﺘﺄﺟﺮﻳﻦ أو اﻟﺘﻔﺎوض‬ ‫ﻣﻌﻬﻢ‪ .‬إذا ﻛﻨﺖ ﻻ ﺗﺮﻳﺪ أن ﻳﺘﻢ إزﻋﺎﺟﻚ ﺑﺎﻹﺻﻼﺣﺎت اﻟﺼﻐرية أو‬ ‫وﻇﺎﺋﻒ اﻟﺼﻴﺎﻧﺔ‪ ،‬ﻧﻮﴆ ﺑﺎﺳﺘﺨﺪام ﻣﺪﻳﺮ ﻟﻠﻌﻘﺎر‪.‬‬

‫ﺗﺤﺪﻳﺪ ﻧﻮع اﻹﺗﻔﺎق اﻹﻳﺠﺎري‬ ‫ﻛﻞ ﻧﻮع ﻣﻦ اﻻﻳﺠﺎر ﻣﺪﻋﻮم مبﻮﺟﺐ اﺗﻔﺎق إﻳﺠﺎري ﺑني اﳌﺴﺘﺄﺟﺮ‬ ‫واﳌﺎﻟﻚ‪ .‬ﻋﻨﺪ ﺗﺄﺟري ﻋﻘﺎرك‪ ،‬إﱃ ﺟﺎﻧﺐ ﺗﺤﺪﻳﺪ ﻣﺒﻠﻎ اﻹﻳﺠﺎر‪ ،‬ﺗﺤﺘﺎج إﱃ‬ ‫أن ﺗﻜﻮن ﻋﲆ ﻓﻬﻢ ﻛﺘﺎيب واﺿﺢ ﻳﴪد ﺳﻴﺎﺳﺎت أو ﻣﺒﺎدئ ﺗﻮﺟﻴﻬﻴﺔ‬ ‫ﻣﺨﺘﻠﻔﺔ ﻻﺳﺘﺨﺪام اﻟﻌﻘﺎر‪ ،‬ﺑﺎﻹﺿﺎﻓﺔ إﱃ ﺗﺤﺪﻳﺪ ﻣﺪة ﻋﻘﺪ اﻹﻳﺠﺎر‪.‬‬ ‫ﺑﻌﺾ أﺻﺤﺎب اﻟﻌﻘﺎرات ﻳﻔﻀﻠﻮن اﺗﻔﺎق ﻣﻦ ﺷﻬﺮ اﱃ ﺷﻬﺮ‪ ،‬وﻳﺘﻢ‬ ‫اﻟﺘﺠﺪﻳﺪ ﺗﻠﻘﺎﺋﻴﺎً ﻛﻞ ﺷﻬﺮ ﻣﺎ مل ﻳﻌﻄﻲ أي ﻣﻦ اﻟﻄﺮﻓني إﺧﻄﺎرا ﻗﺒﻞ ‪30‬‬ ‫ﻳﻮﻣﺎً ﻹﻧﻬﺎء ﻋﻘﺪ اﻹﻳﺠﺎر‪ .‬ﻣﻴﺰة ﻫﺬا اﻟﻨﻮع ﻣﻦ اﻹﻳﺠﺎر ﻫﻮ أﻧﻪ ميﻜﻨﻚ‬ ‫زﻳﺎدة اﻻﻳﺠﺎرات ﻟﺘﻠﺒﻴﺔ ﻣﻌﺪﻻت اﻟﺴﻮق‪ ،‬ﺑﺪﻻً ﻣﻦ اﻻﺿﻄﺮار إﱃ‬ ‫اﻻﻧﺘﻈﺎر ﻟﻨﻬﺎﻳﺔ ﻓﱰة اﻹﻳﺠﺎر ﻛام ﰲ ﺣﺎﻟﺔ ﻋﻘﺪ اﻹﻳﺠﺎر ﻋﲆ اﳌﺪى‬ ‫‪23‬‬


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‫‪2014‬‬

‫‪15‬‬

‫مبﺠﺮد اﻻﻧﺘﻬﺎء ﻣﻦ اﳌﺮاﺣﻞ اﻟﻨﻬﺎﺋﻴﺔ ﻣﻦ إمتﺎم اﻟﺼﻔﻘﺔ واﻟﺤﺼﻮل ﻋﲆ اﻟﻌﻘﺎر ﻣﻦ اﳌﺎﻟﻚ اﻟﺴﺎﺑﻖ‪ ،‬ﺳﻮف ﺗﺤﺘﺎج‬ ‫إﱃ اﻹﻳﺠﺎر ﻣﻦ أﺟﻞ ﺗﺤﻘﻴﻖ ﻋﺎﺋﺪ ﻣﻦ اﻟﻌﻘﺎر‪ .‬ﻛﻮﻧﻚ ﻣﺎﻟﻜﺎً ﻟﻴﺲ ﺑﺎﻷﻣﺮ اﻟﺴﻬﻞ ﻛام ﻳﺒﺪو‪ ،‬وﻏﺎﻟﺒﺎً‪ ،‬أﺧﻄﺎء اﳌﻼك‬ ‫اﻟﺼﻐرية ﻗﺪ ﺗﻜﻠﻒ اﻟﻜﺜري‪ .‬ﰲ درس ﻫﺬا اﻟﺸﻬﺮ‪ ،‬ﺳﻮف ﻧﺮﻛﺰ ﻋﲆ ﺑﻌﺾ اﳌﺒﺎدئ اﻟﺘﻮﺟﻴﻬﻴﺔ اﻟﺘﻲ ﻣﻦ ﺷﺄﻧﻬﺎ أن‬ ‫ﺗﺠﻌﻞ ﻫﺬه اﳌﻬﻤﺔ أﺳﻬﻞ‪.‬‬

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Valoran Real Estate Brokers Your Lifestyle Broker

. . . A1 2014

2011

.

) 3.2

(-AA 3.5

2012 .2017

.

21


2014

- 17

A class office vacancy rate, % 15

12

9

6

3

2013

2012

2011

2010

2009

2008

2007

2006

2005

2004

2003

2002

2001

0

Source: Ober-Haus Real Estate Advisors

www.valoran.ae


Valoran Real Estate Brokers Your Lifestyle Broker

Total A class office space, sqm 300 k

250 k

200 k

150 k

100 k

50 k

2013 F

2012

2011

2010

2009

2008

2007

2006

2005

2004

2003

2002

2001

2000

0

Source: Ober-Haus Real Estate Advisors

A class office rents, â‚Ź/sqm 20

18

16

14

12

Source: Ober-Haus Real Estate Advisors

19

2013

2012

2011

2010

2009

2008

2007

2006

2005

2004

2003

2002

2001

2000

1999

1998

10

8


‫‪- 17‬‬

‫‪2014‬‬

‫‪Transaction Costs‬‬ ‫?‪Who Pays‬‬

‫‪Buyer‬‬

‫‪2% - 4%‬‬

‫‪Realtor’s Fee‬‬

‫‪Buyer‬‬

‫‪0.02% - 0.70%‬‬ ‫)‪(+20% VAT‬‬

‫‪Nortary Fees‬‬

‫‪Buyer‬‬

‫‪0.3% - 0.5%‬‬

‫‪Stamp Duty‬‬

‫‪Buyer‬‬

‫‪0.25%‬‬

‫‪Registration Fee‬‬

‫‪2.57% - 5.59%‬‬

‫‪Costs paid by buyer‬‬

‫‪nil‬‬

‫‪Costs paid by seller‬‬

‫‪2.57% - 5.59%‬‬

‫‪Round-trip Transaction Costs‬‬ ‫‪Source: Global Property Guide‬‬

‫ﰲ ﻋﺎم ‪ ،2012‬ﻛﺎن ﻫﻨﺎك ارﺗﻔﺎع ﰲ اﻟﻄﻠﺐ ﻋﲆ اﳌﺴﺎﺣﺎت اﳌﻜﺘﺒﻴﺔ ﻣﻦ‬ ‫اﻟﻔﺌﺔ أ ﰲ اﺳﺘﻮﻧﻴﺎ ﺣﻴﺚ زاد ﻋﺪد اﻟﻌﻤﻼء اﻟﺬﻳﻦ ﻳﺒﺤﺜﻮن ﻋﻦ ﻣﺰﻳﺪ ﻣﻦ‬ ‫اﳌﺴﺎﺣﺎت اﳌﻜﺘﺒﻴﺔ اﻟﺤﺪﻳﺜﺔ‪ .‬وﺟﺎء ﻣﻌﻈﻢ ﻫﺬا اﻟﻄﻠﺐ ﻣﻦ ﻣﻤﺜﲇ‬ ‫اﻟﴩﻛﺎت اﻷﺟﻨﺒﻴﺔ اﻟﺘﻲ ﺗﺮﻳﺪ اﻧﺸﺎء ﻣﻜﺎﺗﺐ ﻟﻬﺎ ﰲ اﺳﺘﻮﻧﻴﺎ‪ .‬ﺑﻌﺪ ﻋﺪة‬ ‫ﺳﻨﻮات ﻣﻦ اﻟﺨﻤﻮل‪ ،‬ﺗﻢ إﺿﺎﻓﺔ ﺣﻮاﱄ ‪ 20،000‬ﻣﱰ ﻣﺮﺑﻊ ﻟﻘﻄﺎع‬ ‫اﻟﻌﻘﺎرات اﳌﻜﺘﺒﻴﺔ‪ .‬وﻣﻊ ذﻟﻚ‪ ،‬ﺗﻢ ﺑﻨﺎء اﻟﻜﺜري ﻣﻦ اﻹﺿﺎﻓﺎت اﻟﺠﺪﻳﺪة‬ ‫ﻟﻠﻤﻨﻈامت اﻟﺤﻜﻮﻣﻴﺔ‪.‬‬

‫وﻛﺎن ﻣﻌﺪل اﻟﺸﻐﻮر ﰲ اﳌﺴﺎﺣﺎت اﳌﻜﺘﺒﻴﺔ ﻣﻦ اﻟﻔﺌﺔ أ ﺣﻮاﱄ ‪ 4‬ﰲ‬ ‫اﳌﺎﺋﺔ‪ ،‬ﰲ ﺣني ﻛﺎن ﻣﻌﺪل اﻟﺸﻐﻮر ﰲ اﳌﺴﺎﺣﺎت اﳌﻜﺘﺒﻴﺔ ﻣﻦ اﻟﻔﺌﺔ ب‬ ‫ﻳﺼﻞ إﱃ ‪ 20‬إﱃ ‪ 25‬ﰲ اﳌﺎﺋﺔ ﰲ ﺑﻌﺾ اﳌﺒﺎين‪ .‬وﺣﻴﺚ أن ﻣﺴﺘﺄﺟﺮي‬ ‫اﳌﺴﺎﺣﺎت اﳌﻜﺘﺒﻴﺔ ﻳﺘﻄﻠﻌﻮن إﱃ ﻣﻜﺎﺗﺐ أﻛرث ﺣﺪاﺛﺔ‪ ،‬ﻳﺠﺐ ﻋﲆ‬ ‫أﺻﺤﺎب اﻟﻌﻘﺎرات اﻻﺳﺘﺜامر ﺑﺸﻜﻞ ﻛﺒري ﰲ اﻟﺘﺠﺪﻳﺪ واﻟﺘﺤﺪﻳﺚ ﻣﻦ‬ ‫أﺟﻞ اﻟﺤﻔﺎظ ﻋﲆ اﳌﺴﺘﺄﺟﺮﻳﻦ‪.‬‬ ‫ﻛﺎﻧﺖ إﻳﺠﺎرات اﳌﻜﺎﺗﺐ ﻗﺪ ﺣﻘﻘﺖ اﺳﺘﻘﺮارا ً ﻧﺴﺒﻴﺎً ﰲ ﻋﺎم ‪2012‬‬ ‫ﻣﻘﺎرﻧﺔ ﺑﺎﻟﻌﺎم اﻟﺴﺎﺑﻖ‪ .‬ﺣﻴﺚ ﻛﺎﻧﺖ إﻳﺠﺎرات اﳌﻜﺎﺗﺐ ﻣﻦ اﻟﻔﺌﺔ أ ﺑني‬ ‫‪ 9،50‬ﻳﻮرو ‪ 13.0‬ﻳﻮرو ﻟﻠﻤﱰ اﳌﺮﺑﻊ و ﻣﻦ ‪ 5,00‬ﻳﻮرو إﱃ ‪ 8,00‬ﻳﻮرو‬ ‫ﻟﻜﻞ ﻣﱰ ﻣﺮﺑﻊ ﻟﻠﻤﺴﺎﺣﺎت اﳌﻜﺘﺒﻴﺔ ﻣﻦ اﻟﻔﺌﺔ ب‪.‬‬ ‫ﻛﺎن ﻣﻦ اﳌﺘﻮﻗﻊ أن ﺗﻀﺎف ‪ 44,000‬ﻣﱰ ﻣﺮﺑﻊ ﻣﻦ اﳌﺴﺎﺣﺎت اﳌﻜﺘﺒﻴﺔ‬ ‫اﻟﺠﺪﻳﺪة ﰲ ﻋﺎم ‪ 2013‬ﻣﻦ ﺧﻼل ‪ 5‬ﻣﺸﺎرﻳﻊ ﻣﻦ ﺷﺄﻧﻬﺎ زﻳﺎدة اﻟﻌﺮض‬ ‫ﰲ اﳌﺪﻳﻨﺔ ﺑﻨﺴﺒﺔ ‪ 8‬ﰲ اﳌﺎﺋﺔ‪.‬‬

‫‪Knigh Frank Global House Price Index‬‬ ‫‪3 - Month‬‬ ‫‪% Change‬‬

‫)‪(Q3 2013-Q4 2013‬‬

‫‪NA‬‬ ‫‪5.0%‬‬ ‫‪2.0%‬‬ ‫‪3.0%‬‬ ‫‪2.9%‬‬ ‫‪3.5%‬‬ ‫‪1.8%‬‬ ‫‪1.9%‬‬ ‫‪-0.3%‬‬ ‫‪6.4%‬‬

‫‪www.valoran.ae‬‬

‫‪6 - Month‬‬ ‫‪% Change‬‬

‫‪12 - Month‬‬ ‫‪% Change‬‬

‫)‪(Q2 2013-Q4 2013‬‬

‫)‪(Q4 2012-Q4 2013‬‬

‫‪15.3%‬‬ ‫‪10.8%‬‬ ‫‪2.9%‬‬ ‫‪5.3%‬‬ ‫‪5.7%‬‬ ‫‪6.6%‬‬ ‫‪4.1%‬‬ ‫‪5.6%‬‬ ‫‪2.8%‬‬ ‫‪9.0%‬‬

‫‪34.8%‬‬ ‫‪27.5%‬‬ ‫‪15.1%‬‬ ‫‪14.5%‬‬ ‫‪13.8%‬‬ ‫‪12.7%‬‬ ‫‪11.5%‬‬ ‫‪11.5%‬‬ ‫‪11.3%‬‬ ‫‪10.2%‬‬

‫‪Country‬‬

‫‪Dubai, UAE‬‬ ‫‪China‬‬ ‫‪Taiwan‬‬ ‫‪Estonia‬‬ ‫‪Turkey‬‬ ‫‪Brazil‬‬ ‫‪Colombia‬‬ ‫‪Germany‬‬ ‫‪United States‬‬ ‫‪Poland‬‬

‫‪Rank‬‬

‫‪1‬‬ ‫‪2‬‬ ‫‪3‬‬ ‫‪4‬‬ ‫‪5‬‬ ‫‪6‬‬ ‫‪7‬‬ ‫‪8‬‬ ‫‪9‬‬ ‫‪10‬‬


‫‪Valoran Real Estate Brokers‬‬ ‫‪Your Lifestyle Broker‬‬

‫وﻛﺎﻧﺖ أﻋﲆ اﻟﺰﻳﺎدات اﻟﺘﻲ ﺗﻢ ﺗﺴﺠﻴﻠﻬﺎ ﰲ اﻷﺳﻌﺎر ﰲ اﻟﺒﻼد ﺑني ﻋﺎﻣﻲ‬ ‫‪ 2004‬و ‪ ،2006‬ﻋﻨﺪﻣﺎ ارﺗﻔﻌﺖ أﺳﻌﺎر اﳌﻨﺎزل ﺑﻨﺴﺒﺔ ﺗﺼﻞ إﱃ ‪ 36‬ﰲ‬ ‫اﳌﺎﺋﺔ‪ .‬ﰲ وﻗﺖ ﻻﺣﻖ‪ ،‬ﰲ ﻋﺎم ‪ ،2007‬إﻧﺨﻔﻀﺖ ﺑﺸﻜﻞ ﻛﺒري‪ ،‬ﺑﺎﻟﺘﺰاﻣﻦ‬ ‫ﻣﻊ اﻷزﻣﺔ اﻹﻗﺘﺼﺎدﻳﺔ اﻟﻌﺎﳌﻴﺔ‪ .‬ﺑﺪأ اﻻﻧﺘﻌﺎش ﰲ اﻟﻨﺼﻒ اﻟﺜﺎين ﻣﻦ ﻋﺎم‬ ‫‪ ،2010‬وﻣﻨﺬ اﻧﻀامم اﻟﺒﻼد إﱃ ﻣﻨﻄﻘﺔ اﻟﻴﻮرو ﰲ ﻋﺎم ‪ ،2011‬أﻇﻬﺮ‬ ‫اﳌﺴﺘﺜﻤﺮون اﻷﺟﺎﻧﺐ اﻫﺘامﻣﺎً ﻣﺘﺰاﻳﺪا ً ﺑﺎﻻﺳﺘﺜامر ﰲ اﻟﻌﻘﺎرات‬ ‫اﻻﺳﺘﻮﻧﻴﺔ‪ .‬ﻛام أن ﺗﻮﻗﻌﺎت اﻟﻨﻤﻮ اﻻﻗﺘﺼﺎدي ﰲ اﻟﺒﻼد إﻳﺠﺎﺑﻴﺔ أﻳﻀﺎً‪.‬‬ ‫وﻣﻊ ذﻟﻚ‪ ،‬ﻣﻊ ﺗﻌﺎﰲ ﻗﻄﺎع اﻹﺳﻜﺎن ﻳﺄيت اﻟﺨﻮف ﻣﻦ وﻗﻮع اﻹﻧﻬﻴﺎر‪،‬‬ ‫ﻛام ﰲ اﳌﺮة اﻷﺧرية اﻟﺘﻲ ﺷﻬﺪ اﻟﺴﻮق ﻫﺬه اﻟﺰﻳﺎدات ﰲ اﻷﺳﻌﺎر ﺗﺒﻊ‬ ‫ذﻟﻚ اﻧﻬﻴﺎرا ً‪.‬‬

‫اﻷﺟﺎﻧﺐ اﻟﺬﻳﻦ ﻳﺮﻏﺒﻮن ﰲ ﴍاء اﻟﻌﻘﺎرات ﰲ اﺳﺘﻮﻧﻴﺎ ميﻜﻦ اﻟﻘﻴﺎم‬ ‫ﺑﺬﻟﻚ ﺑﺤﺮﻳﺔ ﺑﻌﺪ اﻟﺤﺼﻮل ﻋﲆ إذن ﻣﺴﺒﻖ ﻣﻦ اﻟﺴﻠﻄﺎت‪ .‬وﻣﻊ ذﻟﻚ‪،‬‬ ‫ﻫﻨﺎك ﻗﻴﻮد ﻋﲆ ﴍاء أراﴈ اﻟﻐﺎﺑﺎت واﻷراﴈ اﻟﺰراﻋﻴﺔ اﻟﺘﻲ ﺗﻜﻮن‬ ‫ﻣﺴﺎﺣﺘﻬﺎ أﻛﱪ ﻣﻦ ‪ 10‬ﻫﻜﺘﺎر‪ .‬ﻛام ﻻ ﻳﺴﻤﺢ ﻟﻸﺟﺎﻧﺐ ﺑﴩاء اﻟﻌﻘﺎرات‬ ‫ﰲ اﻟﺠﺰر اﻟﺼﻐرية أو ﰲ اﳌﻨﺎﻃﻖ اﻟﻘﺮﻳﺒﺔ ﻣﻦ اﻟﺤﺪود‪.‬‬ ‫وﺗﻌﺘﱪ ﺗﻜﺎﻟﻴﻒ اﳌﻌﺎﻣﻼت ﻟﴩاء اﻟﻌﻘﺎرات ﰲ اﺳﺘﻮﻧﻴﺎ ﻣﻨﺨﻔﻀﺔ ﺟﺪا ً‬ ‫ ﺑني ‪ 2.57‬ﰲ اﳌﺎﺋﺔ إﱃ ‪ 5.59‬ﰲ اﳌﺎﺋﺔ‪ .‬ﺗﻔﺮض ﴐﻳﺒﺔ ﻋﲆ ﻏري اﳌﻘﻴﻤني‬‫ﻋﲆ أي إﻳﺮادات واردة ﻣﻦ ﻣﺼﺎدر اﺳﺘﻮﻧﻴﺔ‪ ،‬اﻟﺘﻲ ﺗﺸﻤﻞ اﻟﺪﺧﻞ ﻣﻦ‬ ‫اﻹﻳﺠﺎر واﻷرﺑﺎح اﻟﺮأﺳامﻟﻴﺔ‪ .‬وﻳﺘﻢ ﻓﺮض اﻟﴬﻳﺒﺔ ﻋﲆ اﻟﺪﺧﻞ مبﻌﺪل‬ ‫ﺛﺎﺑﺖ ﻗﺪره ‪ 21‬ﰲ اﳌﺎﺋﺔ‪ .‬وﻻ ﺗﻮﺟﺪ أي ﴐﻳﺒﺔ ﻋﲆ اﳌرياث ﰲ اﺳﺘﻮﻧﻴﺎ‪،‬‬ ‫وﻟﻜﻦ أي ﻣﻜﺎﺳﺐ ﻣﻦ ﻧﻘﻞ اﳌﻠﻜﻴﺔ ﺗﺨﻀﻊ ﻟﴬﻳﺒﺔ اﻟﺪﺧﻞ ﰲ ﻳﺪ‬ ‫اﻟﻮرﻳﺚ‪.‬‬

‫ﻳﱰﻛﺰ ﻣﻌﻈﻢ اﻟﻨﺸﺎط اﻟﺴﻜﻨﻲ ﰲ اﺳﺘﻮﻧﻴﺎ ﺣﻮل اﻟﻌﺎﺻﻤﺔ ﺗﺎﻟني‪ ،‬اﻟﺘﻲ‬ ‫متﺜﻞ ﻣﺎ ﻳﻘﺮب ﻣﻦ ﻧﺼﻒ اﻟﻌﻤﻠﻴﺎت اﳌﻨﻔﺬة‪ .‬ﰲ ﻋﺎم ‪ ،2012‬وارﺗﻔﻊ‬ ‫ﻣﺘﻮﺳﻂ ﺳﻌﺮ اﳌﱰ اﳌﺮﺑﻊ ﻣﻦ اﻟﺸﻘﻖ ﰲ ﺗﺎﻟني ﺑﻨﺴﺒﺔ ‪ 6.5‬ﰲ اﳌﺎﺋﺔ‬ ‫ﻟﻴﺼﻞ إﱃ ‪ 1,132‬ﻳﻮرو ﻟﻜﻞ ﻣﱰ ﻣﺮﺑﻊ‪ .‬وﻛﺎﻧﺖ أﻋﲆ اﻟﺰﻳﺎدات ﰲ أﺳﻌﺎر‬ ‫اﻟﺸﻘﻖ اﻟﺠﺪﻳﺪة ﰲ اﳌﻮاﻗﻊ اﳌﻤﻴﺰة‪ ،‬ومتﺜﻠﺖ ﻏﺎﻟﺒﻴﺔ اﳌﻌﺎﻣﻼت ﰲ ﻋﺎم‬ ‫‪ 2012‬ﰲ وﺳﻂ اﳌﺪﻳﻨﺔ‪ .‬اﳌﺒﺎين اﻟﺴﻜﻨﻴﺔ اﻟﺘﻲ ﺗﻄﻞ ﻋﲆ ﻣﻨﺎﻇﺮ أو ﺑﻬﺎ‬ ‫ﻣﺮاﻓﻖ أﻓﻀﻞ ﺣﻘﻘﺖ أﻋﲆ اﻷﺳﻌﺎر‪ ،‬ﺣﻴﺚ وﺻﻞ ﺳﻌﺮ اﻟﺸﻘﻖ اﻟﺠﺪﻳﺪة‬ ‫ﰲ وﺳﻂ اﳌﺪﻳﻨﺔ إﱃ ﺣﻮاﱄ ‪ 2,600‬ﻳﻮرو ﻟﻜﻞ ﻣﱰ ﻣﺮﺑﻊ‪ .‬وﺗﻘﺪر ﻗﻴﻤﺔ‬ ‫اﻟﺸﻘﺔ اﻟﺠﺪﻳﺪة ﰲ وﺳﻂ اﳌﺪﻳﻨﺔ ﺑني ‪ 1,800‬ﻳﻮرو إﱃ ‪ 3,000‬ﻳﻮرو و‬ ‫ﻟﻠﻤﱰ اﳌﺮﺑﻊ اﻟﻮاﺣﺪ‪ ،‬ﰲ ﺣني ﺑﻠﻐﺖ ﻗﻴﻤﺔ اﻟﺸﻘﻖ ﰲ ﺿﻮاﺣﻲ اﳌﺪﻳﻨﺔ‬ ‫ﺣﻮاﱄ ‪ 1,200‬ﻳﻮرو إﱃ ‪ 1,800‬ﻳﻮرو‪ .‬ﰲ اﻟﺒﻠﺪة اﻟﻘﺪميﺔ‪ ،‬ﺗﺒﻠﻎ ﻗﻴﻤﺔ‬ ‫اﻟﺸﻘﻖ اﻟﻘﺪميﺔ اﻟﻜﺒرية اﻟﺘﻲ ﺗﻢ ﺗﺠﺪﻳﺪﻫﺎ ﺑني ‪ 2,000‬ﻳﻮرو ‪3,000‬‬ ‫ﻳﻮرو و ﻟﻜﻞ ﻣﱰ ﻣﺮﺑﻊ‪.‬‬ ‫ﰲ ﻋﺎم ‪ ،2012‬ﺗﻢ اﻻﻧﺘﻬﺎء ﻣﻦ ﺣﻮاﱄ ‪ 400‬وﺣﺪة ﺳﻜﻨﻴﺔ ﺟﺪﻳﺪة‪ ،‬و ﺑﺪأ‬ ‫ﺑﻨﺎء ‪ 500‬وﺣﺪة أﺧﺮى‪ .‬وﻣﻊ ذﻟﻚ‪ ،‬ارﺗﻔﻌﺖ ﺗﻜﺎﻟﻴﻒ اﻟﺒﻨﺎء ﺑﻨﺴﺒﺔ ‪20‬‬ ‫ﰲ اﳌﺎﺋﺔ‪ ،‬وﻫﻲ ﻧﺴﺒﺔ أﻋﲆ ﻣﻦ اﻟﺰﻳﺎدة ﰲ أﺳﻌﺎر اﻟﺒﻴﻊ ﻣﻦ ‪ 10-15‬ﰲ‬ ‫اﳌﺎﺋﺔ‪ .‬وﻧﺘﻴﺠﺔ ﻟﺬﻟﻚ ﺗﻢ وﻗﻒ ﻋﺪة ﻣﺸﺎرﻳﻊ ﺣﻴﺚ أﻧﻪ مل ﺗﺘﺴﻨﻰ ﻓﺮﺻﺔ‬ ‫ﺗﺤﻘﻴﻖ اﻷرﺑﺎح ﻟﻠﻤﻄﻮرﻳﻦ‪.‬‬ ‫اﻋﺘامدا ً ﻋﲆ اﳌﻮﻗﻊ‪ ،‬ﻛﺎﻧﺖ ﻋﺎﺋﺪات ﺗﺄﺟري اﻟﺸﻘﻖ ﰲ ﺗﺎﻟني ﺑني ‪ 5‬ﰲ‬ ‫اﳌﺎﺋﺔ و ‪ 6‬ﰲ اﳌﺎﺋﺔ ﰲ ﻋﺎم ‪ ،2012‬وﻫﻲ ﻟﻴﺴﺖ ﺟﺬاﺑﺔ ﻣﻦ وﺟﻬﺔ ﻧﻈﺮ‬ ‫اﻻﺳﺘﺜامر‪ .‬ﺑﺎﻹﺿﺎﻓﺔ إﱃ ذﻟﻚ‪ ،‬ﻋﻘﻮد اﻹﻳﺠﺎر اﻟﺴﻜﻨﻴﺔ ﰲ اﺳﺘﻮﻧﻴﺎ ﻻ‬ ‫ﺗﺨﻀﻊ ﳌﺮاﻗﺒﺔ اﻹﻳﺠﺎر‪ ،‬ﺑﺎﺳﺘﺜﻨﺎء اﻟﻌﻘﺎرات اﳌﻤﻠﻮﻛﺔ ﻟﻠﺤﻜﻮﻣﺔ‪ .‬وﻧﺘﻴﺠﺔ‬ ‫ﻟﺬﻟﻚ‪ ،‬ﻳﺤﺘﺎج اﳌﺴﺘﺜﻤﺮون أﻳﻀﺎً ﻟﻠﻨﻈﺮ ﰲ اﳌﺸﺎﻛﻞ اﻟﺘﻲ ﻗﺪ ﺗﻨﺸﺄ ﰲ‬ ‫ﻃﺮد اﳌﺴﺘﺄﺟﺮﻳﻦ ﻋﻨﺪ اﻧﺘﻬﺎء ﻋﻘﺪ اﻹﻳﺠﺎر‪.‬‬ ‫‪17‬‬


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‫ﺟﻤﻬﻮرﻳﺔ اﺳﺘﻮﻧﻴﺎ ﻫﻲ اﻷﺻﻐﺮ ﺑني دول اﻟﺒﻠﻄﻴﻖ اﻟﺘﻲ ﺗﻘﻊ ﰲ ﺷامل أوروﺑﺎ‪ .‬وﺗﻘﻊ ﻻﺗﻔﻴﺎ إﱃ ﺟﻨﻮﺑﻬﺎ وروﺳﻴﺎ‬ ‫إﱃ اﻟﴩق‪ ،‬وﺑﺤﺮ اﻟﺒﻠﻄﻴﻖ إﱃ اﻟﻐﺮب ﻣﻨﻬﺎ وﺗﻘﻊ ﺑﻌﺪﻫﺎ اﻟﺴﻮﻳﺪ‪ ،‬وﻋﱪ ﺧﻠﻴﺞ ﻓﻨﻠﻨﺪا ﺗﻘﻊ ﻓﻨﻠﻨﺪا ﰲ اﻟﺸامل‪.‬‬ ‫ﺑﻌﺪ ﺧﻤﺴﺔ ﻋﻘﻮد ﻣﻦ اﻻﺣﺘﻼل اﻟﺴﻮﻓﻴﺎيت‪ ،‬ﺣﺼﻠﺖ اﻟﺒﻼد ﻋﲆ اﺳﺘﻘﻼﻟﻬﺎ ﰲ ﻋﺎم ‪ 1991‬ﺑﻌﺪ اﻧﻬﻴﺎر اﻻﺗﺤﺎد‬ ‫اﻟﺴﻮﻓﻴﺎيت‪ .‬ﻣﻨﺬ ذﻟﻚ اﻟﺤني‪ ،‬ﺗﺤﻮﻟﺖ ﻣﻦ ﻛﻮﻧﻬﺎ ﺑﻠﺪ ﻣﻨﻔﺼﻞ ﻋﻦ ﺑﻘﻴﺔ اﻟﻌﺎمل‪ ،‬وأﻋﺎدت ﻧﻔﺴﻬﺎ ﻟﺘﺼﺒﺢ راﺋﺪة‬ ‫ﻋﲆ ﻣﺴﺘﻮى اﻟﻌﺎمل ﰲ ﻣﺠﺎل اﻟﺘﻜﻨﻮﻟﻮﺟﻴﺎ‪.‬‬ ‫ﻋﲆ ﻣﺪى اﻟﺴﻨﻮات اﻟﻘﻠﻴﻠﺔ اﳌﺎﺿﻴﺔ‪ ،‬ﻋﲆ اﻟﺮﻏﻢ ﻣﻦ أن ﻣﻌﺪل اﻟﻨﻤﻮ اﻻﻗﺘﺼﺎدي ﰲ اﺳﺘﻮﻧﻴﺎ ﻇﻞ ﺑﻄﻴﺌﺎً‪ ،‬ﻣﺜﻞ‬ ‫ﻣﻌﻈﻢ دول أوروﺑﺎ‪ ،‬إﻻ أن اﻟﺒﻼد ﺷﻬﺪت ﻃﻔﺮة ﻋﻘﺎرﻳﺔ‪ .‬ﻓﻬﻲ ﺗﺤﺘﻞ اﳌﺮﺗﺒﺔ اﻟﺮاﺑﻌﺔ ﰲ اﻟﻌﺎمل ﻣﻦ ﺣﻴﺚ‬ ‫اﻟﺰﻳﺎدات ﰲ أﺳﻌﺎر اﳌﻨﺎزل‪ ،‬مبﻌﺪل منﻮ ‪ 14.5‬ﰲ اﳌﺎﺋﺔ ﺑني اﻟﺮﺑﻊ اﻟﺮاﺑﻊ ﻣﻦ ﻋﺎم ‪ 2012‬و اﻟﺮﺑﻊ اﻟﺮاﺑﻊ ﻣﻦ ﻋﺎم‬ ‫‪ ،2013‬ﺣﻴﺚ ﺷﻬﺪت ﺟﻤﻴﻊ اﳌﺪن اﻟﺮﺋﻴﺴﻴﺔ ﰲ اﻟﺒﻼد‪ ،‬مبﺎ ﰲ ذﻟﻚ اﻟﻌﺎﺻﻤﺔ ﺗﺎﻟني‪ ،‬زﻳﺎدات ﻛﺒرية ﰲ اﻷﺳﻌﺎر‬ ‫ﺧﻼل ﻋﺎم ‪.2013‬‬

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‫‪Valoran Real Estate Brokers‬‬ ‫‪Your Lifestyle Broker‬‬

‫ﺑﻔﻀﻞ أﻟﻮان وأﺷﻜﺎل ﻣﺠﻤﻮﻋﺔ ﻫﺎرﻟﻴﻜﻮﻳﻦ اﳌﺜرية ﻟﻠﺬﻛﺮﻳﺎت‪ ،‬ﺗﺘﻤﺘﻊ‬ ‫اﳌﺠﻤﻮﻋﺔ ﺑﺈﺣﺴﺎس ﻋﺘﻴﻖ‪ .‬ﺳﺎﺑني ﻳﱪز اﳌﺠﻤﻮﻋﺎت اﻟﺘﻲ ﻟﻬﺎ ﻗﺼﺔ أو‬ ‫ﻣﻮﺿﻮع وراءﻫﺎ‪ .‬اﳌﺠﻤﻮﻋﺔ اﻟﺴﺎﺑﻘﺔ – رﻳﻠﻴﻚ ‪ -‬ﺗﺮﻛﺰ ﻋﲆ اﻟﺮوﻣﺎﻧﺴﻴﺔ‬ ‫ﰲ اﻟﻌﺼﻮر اﻟﻮﺳﻄﻰ‪.‬‬

‫ﻫﺎﺗﻒ ﻣريﻳﺪﻳﺴﺖ إﻳﻨﻔﻴﻨﻴﺖ ﻣﻦ ﺗﺎغ ﻫﻮﻳﺮ‪ ،‬اﻟﺬي ﺗﻢ ﺗﻄﻮﻳﺮه ﺑﺎﻟﺘﻌﺎون‬ ‫ﻣﻊ ﴍﻛﺔ ﺻﻦ ﺑﺎرﺗرنز ﺗﻜﻨﻮﻟﻮﺟﻴﺰ اﻟﻔﺮﻧﺴﻴﺔ‪ ،‬ﻳﺠﺮي ﻋﺮﺿﻪ ﰲ ﺑﺎﺳﻴﻠﻮورﻟﺪ‬ ‫‪ .2014‬اﻟﻬﺎﺗﻒ اﻟﻔﺎﺧﺮ ﺳﻴﻜﻮن أول ﻫﺎﺗﻒ ﰲ اﻟﻌﺎمل ﻳﺘﻢ ﺷﺤﻨﻪ ﺑﺎﻟﻀﻮء‬ ‫ﻋﻤﺮ اﻟﺒﻄﺎرﻳﺔ ﻫﻮ اﺣﺪ أﻫﻢ اﻟﻌﻮاﻣﻞ اﻟﺘﻲ ﺗﺆﺧﺬ ﰲ اﻻﻋﺘﺒﺎر ﻋﻨﺪ ﴍاء‬ ‫ﻫﺎﺗﻒ ﺟﺪﻳﺪ وﺳﻮف ﻳﺴﺘﺨﺪم ﻫﺎﺗﻒ ﻣريﻳﺪﻳﺴﺖ إﻳﻨﻔﻴﻨﻴﺖ‬ ‫ﺗﻜﻨﻮﻟﻮﺟﻴﺎ وﻳﺴﻴﺒﺲ ﻛﺮﻳﺴﺘﺎل‪ ،‬واﻟﺘﻲ ﺗﻢ دﻣﺠﻬﺎ ﰲ اﻟﺸﺎﺷﺔ اﻟﺮﺋﻴﺴﻴﺔ‪،‬‬ ‫ﻟﺸﺤﻦ اﻟﻬﺎﺗﻒ ﻋﻨﺪ ﺗﻌﺮﺿﻪ ﻟﻠﻀﻮء اﻟﻄﺒﻴﻌﻲ أو اﻹﺻﻄﻨﺎﻋﻲ‪.‬‬

‫اﻟﺮﺳﺎم اﻷﻣﺮﻳيك ﺟﺎﻛﺴﻮن ﺑﻮﻟﻮك‪ ،‬اﻟﺬي اﻛﺘﺴﺐ ﺳﻤﻌﺔ ﰲ اﻟﺮﺳﻢ‬ ‫ﺑﺘﻘﻨﻴﺔ اﻟﺘﻨﻘﻴﻂ اﳌﺴﺘﺨﺪﻣﺔ ﰲ إﻧﺘﺎج اﻟﻌﺪﻳﺪ ﻣﻦ ﻟﻮﺣﺎﺗﻪ‪ ،‬ﻫﻮ أﻳﻀﺎ‬ ‫ﻣﻌﺮوف ﺑﺴﻠﺴﻠﺔ ﻟﻮﺣﺎﺗﻪ اﻟﺘﻲ ﺗﺴﻤﻰ ﻟﻮﺣﺎت اﻟﻄﻼء اﻷﺳﻮد‪ ،‬واﻟﺘﻲ‬ ‫ﺗﺘﻤﻴﺰ ﺑﺈﺳﺘﺨﺪام اﻟﻄﻼء اﻷﺳﻮد ﻓﻘﻂ ﻋﲆ ﻗامش ﻏري ﻣﻌﺒﻰ‪.‬‬ ‫ﰲ ﻣﻌﺮض أﻣﺴﻴﺔ ﻓﻦ ﻣﺎ ﺑﻌﺪ اﻟﺤﺮب واﻟﻔﻦ اﳌﻌﺎﴏ ﰲ ﻧﻴﻮﻳﻮرك ﻣﺴﺎء‬ ‫ﻳﻮم ‪ 13‬ﻣﺎﻳﻮ‪ ،‬ﺳﻮف ﻳﻌﺮض ﻣﺰاد ﻛﺮﻳﺴﺘﻴﺰ واﺣﺪة ﻣﻦ رواﺋﻊ اﻟﻄﻼء‬ ‫اﻷﺳﻮد‪ .‬ﻗﻄﻌﺔ ﻣﻦ ﻋﺎم ‪ ،1951‬واﻟﺘﻲ ﻳﺸﺎر اﻟﻴﻬﺎ ﻋﲆ اﻧﻬﺎ "رﻗﻢ ‪"5‬‬ ‫)اﻟﺴﻴﺪة اﻷﻧﻴﻘﺔ( ﺗﻢ ﴍاؤﻫﺎ أوﻻً ﻣﻦ ﺻﺎﺋﻎ وﺗﺎﺟﺮ ﻣﺠﻮﻫﺮات ﰲ‬ ‫ﻧﻴﻮﻳﻮرك ﻣﺎرﺛﺎ ﺟﺎﻛﺴﻮن ﰲ ﻋﺎم ‪ 1956‬ﺑﺎﻹﺿﺎﻓﺔ إﱃ ﻟﻮﺣﺔ اﺧﺮى‪ .‬ﰲ‬ ‫ﻋﺎم ‪ ،1980‬ﺗﻢ ﴍاؤﻫﺎ ﻣﻦ ﻗﺒﻞ ﴍﻛﺔ اﻟﻄﺎﻗﺔ اﻷﳌﺎﻧﻴﺔ‪ ،‬اﻟﺘﻲ أﺻﺒﺤﺖ‬ ‫ﺟﺰءا ﻣﻦ ‪ - E.ON‬ﻣﻦ ﺑني أﻛﱪ ﴍﻛﺎت اﻟﻄﺎﻗﺔ واﻟﻐﺎز اﳌﻤﻠﻮﻛﺔ‬ ‫ﳌﺴﺘﺜﻤﺮ ﰲ اﻟﻌﺎمل‪.‬‬ ‫وﻣﻦ اﳌﺘﻮﻗﻊ أن ﻳﱰاوح ﺳﻌﺮﻫﺎ ﺑني ‪ 15‬ﻣﻠﻴﻮن دوﻻر إﱃ ‪ 20‬ﻣﻠﻴﻮن‬ ‫دوﻻر‪ ،‬وﻫﻲ ﻗﻴﻤﺔ أﻗﻞ ﻣﻦ اﻟﺮﻗﻢ اﻟﻘﻴﺎﳼ ﰲ ﻣﺰاد ﻛﺮﻳﺴﺘﻴﺰ ﻟﻠﻮﺣﺎت‬ ‫ﺑﻮﻟﻮك‪ .‬ﰲ اﻟﻌﺎم اﳌﺎﴈ‪ ،‬ﺗﻢ ﺑﻴﻊ اﻟﻠﻮﺣﺔ "رﻗﻢ ‪ "19‬ﺑﻘﻴﻤﺔ ‪ 48‬ﻣﻠﻴﻮن‬ ‫دوﻻر‪ .‬وﻣﻊ ذﻟﻚ‪ ،‬ﻓﺈﻧﻪ ميﺜﻞ ﺗﺤﺴﻨﺎً ﻣﻠﺤﻮﻇﺎً ﻋﻦ ‪ 10,000‬دوﻻر وﻫﻲ‬ ‫أﻋﲆ ﻗﻴﻤﺔ ﺑﻴﻌﺖ ﺑﻬﺎ ﻟﻮﺣﺔ ﻟﻠﻔﻨﺎن ﻧﻔﺴﻪ ﺧﻼل ﺣﻴﺎﺗﻪ‪.‬‬

‫ﺗﻢ ﺗﻌﻴني ‪ 1,911‬وﺣﺪة ﻣﻦ اﻟﻨﺴﺨﺔ اﳌﺤﺪودة ﻣﻦ اﻟﻬﺎﺗﻒ ﻹﺻﺪارﻫﺎ‬ ‫ﰲ ﻳﻮﻟﻴﻮ‪ .‬وميﻜﻦ أن ﺗﺤﺪد اﺗﺠﺎﻫﺎ ﺟﻴﺪا ً ﻣﻊ ﻋﻤﺮ اﻟﺒﻄﺎرﻳﺔ اﳌﻌﺰز‪،‬‬ ‫واﻟﺘﻲ ﻗﺪ ﺗﺆدي إﱃ إﻋﺘامد اﳌﺰﻳﺪ ﻣﻦ ﴍﻛﺎت اﻟﻬﻮاﺗﻒ اﻟﺬﻛﻴﺔ ﻋﲆ‬ ‫ﺗﻜﻨﻮﻟﻮﺟﻴﺎ وﻳﺴﻴﺒﺲ ﻛﺮﻳﺴﺘﺎل ﰲ اﳌﺴﺘﻘﺒﻞ‪.‬‬

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‫ﺑﻴﻨام ﺗﻌﺪ اﻷﺣﺠﺎر اﻟﻜﺮميﺔ ﺳﻤﺔ ﻣﺸﱰﻛﺔ ﰲ اﳌﺠﻮﻫﺮات‪ ،‬وﻧﺎدرا ً ﻣﺎ‬ ‫ﻳﻨﻈﺮ إﻟﻴﻬﺎ ﻋﲆ أﻧﻬﺎ ﻗﻄﻌﺔ ﻧﺤﺘﻴﺔ ﰲ اﳌﻨﺎزل و اﻟﺤﺪاﺋﻖ‪ .‬اﻵن‪،‬‬ ‫أوﺑﻴﻮﻟﻴﻨﺖ ﻟﻮﻛﺸﻮرﻳﺰ‪ ،‬اﻟﺘﻲ ﻫﻲ ﻣﺼﺪر اﻷﺣﺠﺎر اﻟﻜﺮميﺔ ذات اﻟﺠﻮدة‬ ‫اﻟﻌﺎﻟﻴﺔ ﻣﻦ اﻟﱪازﻳﻞ‪ ،‬ﺗﺼﻤﻢ ﻗﻄﻊ ﻣﻔﺼﻠﺔ ميﻜﻨﻬﺎ أن ﺗﻀﻴﻒ ﺳﺤﺮا ً إﱃ‬ ‫دﻳﻜﻮرات اﳌﻨﺰل أو اﳌﻨﺎﻇﺮ اﻟﻄﺒﻴﻌﻴﺔ ﰲ اﻟﻬﻮاء اﻟﻄﻠﻖ‪.‬‬ ‫مبﺠﺮد أن ﻳﻘﺮر اﻟﻌﻤﻴﻞ اﻷﺣﺠﺎر اﻟﻜﺮميﺔ اﳌﻔﻀﻠﺔ ﻟﺪﻳﻪ‪ ،‬ﻳﺘﻢ اﺳﺘﺨﺮاﺟﻬﺎ‬ ‫ﰲ اﻟﱪازﻳﻞ ﺛﻢ ﺗﺼﻤﻴﻤﻬﺎ ﻳﺪوﻳﺎً ﻣﻦ ﻗﺒﻞ اﻟﺤﺮﻓﻴني ﻟﺨﻠﻖ ﻗﻄﻌﺔ ﺣﺴﺐ‬ ‫اﻟﻄﻠﺐ‪ .‬اﻟﺠﻤﺸﺖ واﻟﻜﻮارﺗﺰ ﻧﻮﻋﺎن ﻣﻦ اﻷﺣﺠﺎر اﻟﻜﺮميﺔ اﻟﺘﻲ ﺗﺴﺘﺨﺪم‬ ‫ﰲ أﺳﺎﺳﺎً ﰲ اﻟﺪﻳﻜﻮرات اﻟﺨﺎرﺟﻴﺔ‪ .‬ﻳﺘﻢ إﻧﺸﺎء اﻟﺘﺼﺎﻣﻴﻢ ﻣﻦ ﻗﺒﻞ ﻓﺮﻳﻖ‬ ‫ﻣﻦ اﳌﻬﻨﺪﺳني اﳌﻌامرﻳني اﻟﺒﺎرﻋني ﰲ اﺳﺘﺨﺪام اﻷﺣﺠﺎر اﻟﻜﺮميﺔ ﻹﺿﺎﻓﺔ‬ ‫ﺳﺤﺮ إﱃ اﻹﻋﺪاد‪ ،‬ﻣام ﻳﺠﻌﻠﻬﺎ ﺗﺒﺪو وﻛﺄﻧﻬﺎ ﻗﻄﻌﺔ ﻣﻦ ﻓﻴﻠﻢ‪ .‬ﻳﺘﻢ ﺗﺮﺗﻴﺐ‬ ‫اﻷﺣﺠﺎر اﻟﻜﺮميﺔ ﺑﺸﻜﻞ ﻳﺠﻌﻠﻬﺎ ﺗﺒﺪو أﻧﻬﺎ ﻋﻀﻮﻳﺔ ﻛام ﻟﻮ ﻛﺎﻧﺖ ﺟﺰءا‬ ‫ﻣﻦ ﻣﻨﻈﺮ ﻃﺒﻴﻌﻲ‪.‬‬ ‫ﺗﻌﻤﻞ اﻟﴩﻛﺔ ﻋﲆ إﻳﺠﺎد اﻟﺘﺼﻤﻴﻢ اﳌﺜﺎﱄ ﻟﻜﻞ ﻋﻤﻴﻞ‪ .‬ﺗﺒﺪأ اﻟﻌﻤﻠﻴﺔ ﻣﻊ‬ ‫اﻟﺤﺪﻳﺚ إﱃ اﻟﻌﻤﻴﻞ ﺣﻮل رؤﻳﺘﻪ ﻟﻠﻨﺤﺖ‪ ،‬ﻓﻬﻢ اﳌﻨﻄﻘﺔ اﻟﺘﻲ ﺳﻴﺘﻢ‬ ‫ﻋﺮض اﻟﻘﻄﻌﺔ ﺑﻬﺎ‪ ،‬اﻻﺳﺘﻔﺴﺎر ﻋﻦ ﻧﻮع اﻷﺣﺠﺎر اﻟﻜﺮميﺔ ﻻﺳﺘﺨﺪاﻣﻬﺎ‪،‬‬ ‫و اﻷﺟﻮاء اﻟﺸﺎﻣﻠﺔ اﻟﺘﻲ ﻳﺠﺐ ﺗﺼﻮرﻫﺎ واﳌﻴﺰاﻧﻴﺔ‪ .‬ﻋﲆ أﺳﺎس ﻫﺬا‬ ‫ﻳﻘﺪر اﻟﻔﺮﻳﻖ مثﻦ اﻟﻘﻄﻌﺔ‪ ،‬واﻟﺬي ﻳﺨﺘﻠﻒ ﺗﺒﻌﺎً ﻟﻠﺘﺼﻤﻴﻢ‪.‬‬

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‫وﺗﺘﻮاﻓﺮ إﻣﻜﺎﻧﻴﺔ اﻟﺘﺨﺼﻴﺺ إﱃ ﺣﺪ أﻧﻪ ﺣﺘﻰ إذا ﻛﺎن ﻟﺪى اﻟﻌﻤﻴﻞ‬ ‫ﺻﻮرة وﻳﻄﻠﺐ ﺗﺼﻤﻴامً ﻣامﺛﻼً ﻟﻬﺎ‪ ،‬ﺳﻴﺘﻢ ﺗﻌﺪﻳﻠﻪ ﻗﻠﻴﻼً ﻟﺠﻌﻠﻪ ﻓﺮﻳﺪ ﻣﻦ‬ ‫ﻧﻮﻋﻪ‪ .‬ﺗﻜﻠﻔﺔ ﻧﺤﺖ اﻷﺣﺠﺎر اﻟﻜﺮميﺔ اﳌﺨﺼﺺ ميﻜﻦ أن ﺗﱰاوح ﻣﻦ‬ ‫ﺑﻀﻌﺔ آﻻف إﱃ ﺳﺘﺔ أرﻗﺎم اﻋﺘامدا ً ﻋﲆ ﺣﺠﻢ وﺗﻌﻘﻴﺪ اﻟﺘﺼﻤﻴﻢ‪.‬‬

‫ﻣﺼﻤﻢ ﻣﺒﺘﺪئ ﻣﻘﺮه ﻟﻨﺪن ﺳﺎﺑني ﻏﺎﻧﻢ‪ ،‬اﻟﺬي ﺧﻠﻖ ﻋﻼﻣﺘﻪ اﻟﺘﺠﺎرﻳﺔ ﰲ‬ ‫ﻋﺎم ‪ ،2012‬أﺧﺮج ﻣﺠﻤﻮﻋﺘﻪ اﻟﺜﺎﻧﻴﺔ‪ ،‬اﻟﺘﻲ متﺰج ﺑني اﻟﻌﻤﻞ اﳌﻌﻘﺪ ﻣﻦ‬ ‫اﻟﻘﻄﻊ اﻟﻌﺘﻴﻘﺔ ﻣﻊ اﻟﺘﺼﻤﻴﻢ اﻟﻬﻨﺪﳼ واﻷﻟﻮان اﻟﺠﺮﻳﺌﺔ‪ .‬اﳌﺠﻤﻮﻋﺔ‬ ‫اﻟﺠﺪﻳﺪة‪ ،‬ﻫﺎرﻳﻠﻜﻮﻳﻦ‪ ،‬ﻣﺴﺘﻠﻬﻤﺔ ﻣﻦ اﳌﺠﻮﻫﺮات اﻟﻌﺘﻴﻘﺔ وﺗﺠﻤﻊ ﺑني‬ ‫اﻟﺘﺼﺎﻣﻴﻢ اﻟﻬﻨﺪﺳﻴﺔ واﻷﻟﻮان اﻟﺰاﻫﻴﺔ ﻹﺿﺎﻓﺔ ﳌﺴﺔ ﻋﴫﻳﺔ‪ .‬ﺗﻀﻢ‬ ‫اﳌﺠﻤﻮﻋﺔ ﺧﻮاﺗﻢ‪ ،‬أﺳﺎور‪ ،‬وﻗﻼدات ﺗﺴﺘﺨﺪم ﻣﺰﻳﺠﺎً ﻣﻦ اﻷﺣﺠﺎر‬ ‫اﻟﻜﺮميﺔ‪ ،‬مبﺎ ﰲ ذﻟﻚ اﳌﺎس‪ ،‬اﻟﺰﻣﺮد‪ ،‬واﻟﻴﺎﻗﻮت‪ ،‬وﺑﺄﺳﻌﺎر ﺗﱰاوح ﺑني‬ ‫‪ 3000‬دوﻻر إﱃ ‪ 20،000‬دوﻻر‪.‬‬


‫‪Valoran Real Estate Brokers‬‬ ‫‪Your Lifestyle Broker‬‬

‫اﻟﻌﻘﺎرات ذات اﳌﻮاﻗﻊ اﳌﻤﻴﺰة ﰲ ﺟﻨﻮب أﻓﺮﻳﻘﻴﺎ‪ ،‬واﻟﺘﻲ ﻛﺎﻧﺖ ﺗﻌﺘﱪ‬ ‫ﴎا ً ﻟﺪى اﻟﺴﻜﺎن اﳌﺤﻠﻴني‪ ،‬أﺻﺒﺤﺖ اﻵن ﺷﻌﺒﻴﺔ ﺑني اﳌﺸﱰﻳﻦ ﻣﻦ‬ ‫اﻟﺨﺎرج‪ .‬ﻣﻊ أﺳﻌﺎر اﻟﴫف اﳌﻮاﺗﻴﺔ اﻟﺘﻲ ﺗﺠﻌﻞ اﻷﺳﻌﺎر مبﺜﺎﺑﺔ ﺻﻔﻘﺔ‬ ‫راﺑﺤﺔ ﻟﻠﻤﺸﱰﻳﻦ ﻣﻦ اﻟﺨﺎرج‪ ،‬ﻣﺜﻞ اﳌﺸﱰﻳﻦ ﻣﻦ ﺑﺮﻳﻄﺎﻧﻴﺎ‪ ،‬اﻟﻌﺪﻳﺪ ﻣﻦ‬ ‫اﳌﻮاﻗﻊ اﳌﻤﻴﺰة ﰲ اﻟﺒﻼد ﺗﺠﺬب اﳌﺴﺘﺜﻤﺮﻳﻦ ﺑﺎﻋﺘﺒﺎرﻫﺎ اﺳﺘﺜامرا ً ﺟﻴﺪا ً‬ ‫ﻻﻳﺠﺎرات اﻟﻌﻄﻼت‪.‬‬ ‫وﻧﺘﻴﺠﺔ ﻟﺬﻟﻚ‪ ،‬ﺗﱪﻫﻦ اﻷدﻏﺎل واﳌﺤﻤﻴﺎت ﰲ أﻓﺮﻳﻘﻴﺎ ﻋﲆ أﻧﻬﺎ أﻛرث‬ ‫اﻻﺳﺘﺜامرات ﺟﺎذﺑﻴﺔ‪ .‬ﰲ اﳌﺪن اﻟﺴﺎﺣﻠﻴﺔ‪ ،‬ﻣﺜﻞ ﺧﻠﻴﺞ ﻣﻮﺳﻴﻞ‪ ،‬زاد ﻋﺪد‬ ‫اﳌﺸﱰﻳﻦ ﻣﻦ اﻟﺨﺎرج‪ ،‬وﻣﻨﺎزل اﻟﻌﻄﻼت ﰲ ﺟﺎردن روت‪ ،‬اﻟﺘﻲ ﺗﻌﺪ‬ ‫واﺣﺪة ﻣﻦ أﺟﻤﻞ اﻟﺸﻮاﻃﺊ‪ ،‬ﻋﻠﻴﻬﺎ ﻃﻠﺐ ﻛﺒري ﺟﺪا ً‪ .‬ﻣﻨﺘﺠﻊ اﻷدﻏﺎل ذو‬ ‫اﻟﺨﻤﺲ ﻧﺠﻮم‪ ،‬ﻣﺤﻤﻴﺔ ﺟﻨﺪواﻧﺎ‪ ،‬واﻟﺘﻲ ﺗﺒﻌﺪ ﺣﻮاﱄ ‪ 30‬دﻗﻴﻘﺔ ﻣﻦ‬ ‫ﺧﻠﻴﺞ ﻣﻮﺳﻴﻞ‪ ،‬ﺗﻌﺪ اﳌﺤﻤﻴﺔ اﻟﻮﺣﻴﺪة ﰲ ﻛﻴﺐ اﻟﺠﻨﻮﺑﻴﺔ‪ ،‬اﻟﺘﻲ ﺗﻮﺟﺪ‬ ‫ﺑﻬﺎ ﻋﻘﺎرات ﻟﻠﺒﻴﻊ‪ .‬ﺗﻘﺪم اﳌﺤﻤﻴﺔ ﻓﺮﺻﺔ ﻣﺸﺎﻫﺪة اﻟﺤﻴﻮاﻧﺎت اﻟﺨﻤﺴﺔ‬ ‫اﻷﻛﱪ ﺣامﻳﺔ ‪ -‬اﻷﺳﻮد‪ ،‬اﻟﻔﻴﻠﺔ‪ ،‬وﺣﻴﺪ اﻟﻘﺮن‪ ،‬اﻟﺠﺎﻣﻮس واﻟﻨﻤﻮر‪ .‬وﺗﻌﺪ‬ ‫ﺑﻄﻮﻻت اﻟﻐﻮﻟﻒ ﻋﲆ ﺷﺎﻃﺊ اﻟﺒﺤﺮ ﻣﺜﻞ ﻓﺎﻧﻜﻮرت‪ ،‬أوﺑﺎي‪ ،‬ﺑﻴﻨﺎﻛﻞ‬ ‫ﺑﻮﻳﻨﺖ وﺑﻴﺰوﻻ ﰲ ﻣﺘﻨﺎول اﻟﻴﺪ‪ .‬ﺑﺎﻹﺿﺎﻓﺔ إﱃ ذﻟﻚ‪ ،‬ﻓﻬﻲ ﻗﺮﻳﺒﺔ ﻣﻦ‬ ‫ﻛﻴﺐ ﺗﺎون وﻛﻴﺐ ﻓﻴﻨﻴﺎردز‪.‬‬ ‫ﺗﻘﻊ ﰲ وﺳﻂ ﻏﺎردن راوت‪ ،‬وﺑﻬﺎ ﻣﻨﺎزل اﻟﻌﻄﻼت ﺣﻴﺚ ميﻜﻦ‬ ‫ﻟﻠﻤﺴﺘﺄﺟﺮﻳﻦ اﻻﺳﺘﻤﺘﺎع ﺑﺤﻮاﱄ ‪ 27،000‬ﻓﺪان ﻣﻦ اﻟﱪﻳﺔ‪ ،‬إﱃ ﺟﺎﻧﺐ‬ ‫اﻷﻧﺸﻄﺔ ﻋﲆ ﻣﺪار اﻟﺴﻨﺔ ﻣﺜﻞ اﻟﻐﻮﻟﻒ‪ ،‬رﻛﻮب اﻷﻣﻮاج واﻟﺴﺒﺎﺣﺔ‪.‬‬ ‫ﻗﻄﻊ أراﴈ ﻟﻠﺘﻤﻠﻚ اﻟﺤﺮ ﰲ اﳌﻨﻄﻘﺔ‪ ،‬واﻟﺘﻲ ﻫﻲ ﺣﻮاﱄ ‪ 2.5‬ﻓﺪان‪ ،‬ﺗﺒﺪأ‬ ‫ﻣﻦ ﻣﻠﻴﻮن راﻧﺪ‪ ،‬ﰲ ﺣني ﻳﻜﻠﻒ ﻧﺰل ﻣﻦ اﻟﻘﺶ ﻣﻜﻮن ﻣﻦ ﺛﻼث ﻏﺮف‬ ‫ﻧﻮم ﺣﻮاﱄ ‪ 3.5‬ﻣﻠﻴﻮن راﻧﺪ‪.‬‬

‫ﰲ ﺣني أن ﻣﻨﻄﻘﺔ ﺧﻠﻴﺞ اﳌﺨﻴامت ﺗﻌﺪ وﺟﻬﺔ ﻣﻔﻀﻠﺔ ﻟﻠﻨﺨﺒﺔ ﰲ‬ ‫ﺟﻨﻮب أﻓﺮﻳﻘﻴﺎ‪ ،‬إﻻ أﻧﻬﺎ ﺗﻜﺘﺴﺐ ﺷﻌﺒﻴﺔ ﻣﺘﺰاﻳﺪة ﺑني ﻣﺸﱰي اﻟﻌﻘﺎرات‬ ‫ﻣﻦ اﻟﺨﺎرج‪ ،‬وﺧﺼﻮﺻﺎً ﻣﻦ ﺑﺮﻳﻄﺎﻧﻴﺎ‪ ،‬ﺣﻴﺚ ﺗﻨﺘﴩ اﻟﻠﻐﺔ اﻹﻧﺠﻠﻴﺰﻳﺔ‬ ‫ﻋﲆ ﻧﻄﺎق واﺳﻊ ﰲ اﳌﻨﻄﻘﺔ‪.‬‬

‫ﰲ ﻣﺎرس ‪ ،2014‬ارﺗﻔﻊ ﻣﺘﻮﺳﻂ أﺳﻌﺎر ﺑﻴﻊ اﳌﻨﺎزل اﻟﻌﺎﺋﻠﻴﺔ واﻟﺸﻘﻖ ﰲ‬ ‫ﻣﻴﺎﻣﻲ‪ ،‬اﻟﺘﻲ ﺗﻌﺪ واﺣﺪة ﻣﻦ اﻷﺳﻮاق اﻟﺴﻜﻨﻴﺔ اﻷﻛرث دﻳﻨﺎﻣﻴﻜﻴﺔ ﰲ‬ ‫اﻟﻮﻻﻳﺎت اﳌﺘﺤﺪة‪ .،‬وأﻇﻬﺮت ﺑﻴﺎﻧﺎت ﻣﻦ ﺟﻤﻌﻴﺔ ﻣﻴﺎﻣﻲ ﻟﻠﻮﺳﻄﺎء‬ ‫اﻟﻌﻘﺎرﻳني أن ﻣﺘﻮﺳﻂ أﺳﻌﺎر ﺑﻴﻊ اﳌﻨﺎزل اﻟﻌﺎﺋﻠﻴﺔ ارﺗﻔﻊ ﺑﻨﺴﺒﺔ ‪ 4.4‬ﰲ‬ ‫اﳌﺎﺋﺔ ﻟﻴﺼﻞ إﱃ ‪ 235,000‬دوﻻر ﰲ ﻣﺎرس ‪ ،2014‬ﻣﺴﺠﻼً ‪ 28‬ﺷﻬﺮا ً ﻣﻦ‬ ‫اﻹرﺗﻔﺎع اﳌﺘﻮاﺻﻞ‪ .‬وارﺗﻔﻊ ﻣﺘﻮﺳﻂ أﺳﻌﺎر ﺑﻴﻊ اﳌﻨﺎزل اﻟﻌﺎﺋﻠﻴﺔ ﺑﻨﺴﺒﺔ‬ ‫‪ 17.8‬ﰲ اﳌﺎﺋﺔ ﻟﻴﺼﻞ إﱃ ‪ 459,102‬دوﻻر اﻟﺸﻬﺮ اﳌﺎﴈ‪ ،‬ﻣﻦ ‪389,847‬‬ ‫دوﻻر ﰲ ﻣﺎرس ‪.2013‬‬ ‫ﻓﻴام ﻳﺘﻌﻠﻖ ﺑﺎﻟﻮﺣﺪات اﻟﺴﻜﻨﻴﺔ‪ ،‬ارﺗﻔﻊ ﻣﺘﻮﺳﻂ ﺳﻌﺮ اﻟﺒﻴﻊ ﳌﺪة ‪33‬‬ ‫ﺷﻬﺮا ً ﻣﺘﻮاﺻﻠﺔ‪ .‬ﻓﻘﺪ ارﺗﻔﻊ ﺑﻨﺴﺒﺔ ‪ 19.8‬ﰲ اﳌﺌﺔ ﰲ ﻣﺎرس ﻋﺎم ‪2014‬‬ ‫ﻟﻴﺼﻞ إﱃ ‪ 200,000‬دوﻻر‪ ،‬ﻣﻦ ‪ 167000‬دوﻻر ﰲ اﻟﺸﻬﺮ ﻧﻔﺴﻪ ﻣﻦ‬ ‫اﻟﻌﺎم اﻟﺴﺎﺑﻖ‪ .‬ﻛام ارﺗﻔﻊ ﻣﺘﻮﺳﻂ أﺳﻌﺎر ﺑﻴﻊ اﻟﺸﻘﻖ ﺑﻨﺴﺒﺔ ‪ 16.3‬ﰲ‬ ‫اﳌﺎﺋﺔ ﻣﻦ ‪ 324,380‬دوﻻر ﰲ ﻣﺎرس ‪ ،2013‬ﻟﻴﺼﻞ إﱃ ‪ 377,290‬دوﻻر‬ ‫ﰲ ﻣﺎرس ‪.2014‬‬ ‫وﻳﻌﺪ أﺣﺪ اﻷﺳﺒﺎب اﻟﺮﺋﻴﺴﻴﺔ اﻟﺘﻲ ﺟﻌﻠﺖ اﻟﺴﻮق اﻟﻌﻘﺎرﻳﺔ ﰲ ﻣﻴﺎﻣﻲ‬ ‫ﻣﺴﺘﻤﺮة ﰲ ﺗﺴﺠﻴﻞ ﻣﺒﻴﻌﺎت اﻻﻳﻘﺎع اﻟﴪﻳﻊ ﻫﻮ أﻧﻪ ﻳﺘﻢ ﺗﺴﻌري‬ ‫اﻟﻌﻘﺎرات ﺑﺸﻜﻞ ﺻﺤﻴﺢ وإدراك اﳌﺸﱰﻳﻦ أﻳﻀﺎ ﻟﻠﺤﺎﺟﺔ إﱃ اﻟﻘﺪرة‬ ‫ﻋﲆ اﳌﻨﺎﻓﺴﺔ ﰲ ﻇﻞ اﻟﻮﺿﻊ اﻟﺮاﻫﻦ‪.‬‬

‫ﰲ اﻟﻄﺮف اﻵﺧﺮ ﻣﻦ ﻧﻄﺎق اﻷﺳﻌﺎر‪ ،‬ﺗﻘﺪم ﻣﺨﻴامت ﺷﺎﻃﺊ اﻟﺨﻠﻴﺞ‬ ‫ﻣﺠﻤﻮﻋﺔ ﻣﻦ ﻓﻴﻼت اﻟﺸﺎﻃﺊ اﳌﻜﻮﻧﺔ ﻣﻦ ‪ 3‬ﻏﺮف ﻧﻮم ﺑﺄﺳﻌﺎر ﺗﱰاوح‬ ‫ﺑني ‪ 29.5‬ﻣﻠﻴﻮن راﻧﺪ إﱃ ‪ 36‬ﻣﻠﻴﻮن راﻧﺪ‪ ،‬واﻟﺘﻲ ﺗﻘﺪم أﺳﻠﻮب ﺣﻴﺎة‬ ‫اﻟﺒﺤﺮ اﻷﺑﻴﺾ اﳌﺘﻮﺳﻂ ﺑﺠﺰء ﺑﺴﻴﻂ ﻣﻦ اﻟﺘﻜﻠﻔﺔ‪ .‬وﺗﺘﻤﺘﻊ اﻟﻔﻴﻼت اﻟﺘﻲ‬ ‫ﺗﻘﻊ ﻋﲆ ﺳﻔﻮح ﺗﺎﺑﻞ ﻣﺎوﻧﺘني مبﻨﺎﻇﺮ ﺟﻤﻴﻠﺔ ﻣﻦ اﳌﺤﻴﻂ اﻷﻃﻠﴘ إﱃ‬ ‫ﺟﺎﻧﺐ أﺣﺪ أﺟﻤﻞ اﻟﺸﻮاﻃﺊ ﰲ اﻟﻌﺎمل‪.‬‬

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‫‪- 17‬‬

‫‪2014‬‬

‫أدى اﻟﺘﻨﺎﻓﺲ ﺑني اﳌﺸﱰﻳﻦ ﰲ زﻳﺎدة ‪ 1.1‬ﰲ اﳌﺎﺋﺔ ﰲ أﺳﻌﺎر اﻟﻌﻘﺎرات‬ ‫اﻟﺴﻜﻨﻴﺔ اﳌﻤﻴﺰة ﰲ اﺳﻜﺘﻠﻨﺪا ﺧﻼل اﻟﺮﺑﻊ اﻷول ﻣﻦ ﻋﺎم ‪ ،2014‬وﻳﺮﺟﻊ‬ ‫ذﻟﻚ أﺳﺎﺳﺎً إﱃ ﻧﻘﺺ اﳌﻌﺮوض‪ .‬وﻓﻘﺎً ﳌﺆﴍ ﻧﺎﻳﺖ ﻓﺮاﻧﻚ ﻟﻠﻌﻘﺎرات‬ ‫اﻻﺳﻜﺘﻠﻨﺪﻳﺔ اﳌﻤﻴﺰة‪ ،‬زادت اﻷﺳﻌﺎر ﺑﻨﺴﺒﺔ ‪ 2.8‬ﰲ اﳌﺎﺋﺔ ﻋﲆ أﺳﺎس‬ ‫ﺳﻨﻮي ﰲ اﻟﻌﺎم اﻟﺬي ﻳﻨﺘﻬﻲ ﰲ ﻣﺎرس ‪ .2014‬وﻛﺎن ﻫﺬا أﻛﱪ ارﺗﻔﺎع‬ ‫ﺳﻨﻮي ﺳﺠﻞ ﰲ ﺳﺖ ﺳﻨﻮات‪.‬‬ ‫اﻟﻀﻐﻮط اﻟﺼﻌﻮدﻳﺔ ﻋﲆ اﻷﺳﻌﺎر ﻫﻲ ﻧﺘﻴﺠﺔ ﻟﻀﻌﻒ اﻹﻣﺪاد ﺑﺎﻹﺿﺎﻓﺔ‬ ‫إﱃ زﻳﺎدة اﻟﺜﻘﺔ ﺑني اﻟﺒﺎﺋﻌني واﳌﺸﱰﻳﻦ‪ .‬وﻗﺪ ﺗﺰاﻣﻨﺖ ﻗﻠﺔ اﻟﻌﺮض ﻣﻊ‬ ‫زﻳﺎدة اﻫﺘامم اﳌﺸﱰي ﺧﻼل اﻷﺷﻬﺮ اﻟﺜﻼﺛﺔ اﳌﻨﺘﻬﻴﺔ ﰲ ﻣﺎرس ‪2014‬‬ ‫ﺑﻨﺴﺒﺔ منﻮ ‪ 36.5‬ﰲ اﳌﺎﺋﺔ ﰲ اﳌﺘﻘﺪﻣني اﻟﺠﺪد ﺑﺎﳌﻘﺎرﻧﺔ ﻣﻊ ﻧﻔﺲ اﻟﻔﱰة‬ ‫ﻣﻦ اﻟﻌﺎم اﳌﺎﴈ‪.‬‬ ‫وﻗﺪ اﺳﺘﻔﺎدت ادﻧﱪه ﻣﻦ أﻋﲆ اﻟﺰﻳﺎدات ﰲ اﻟﻄﻠﺐ‪ ،‬ﻣام ﻇﻬﺮ ﺟﻠﻴﺎً ﰲ‬ ‫ﺗﻮﺳﻊ أﺳﻮاق اﻟﻌﻘﺎرات اﳌﻤﻴﺰة‪ .‬ﰲ ﺣني أن ﻣﻌﻈﻢ اﳌﺒﻴﻌﺎت ﺗﺮﻛﺰت‬ ‫ﺣﻮل ﴍﻳﺤﺔ اﳌﻠﻴﻮن ﺟﻨﻴﻪ إﺳﱰﻟﻴﻨﻲ‪ ،‬ﻛﺎن ﻫﻨﺎك أﻳﻀﺎً اﻫﺘامم ﻣﺘﺰاﻳﺪ‬ ‫ﺑﺎﳌﻨﺎزل اﻟﻌﺎﺋﻠﻴﺔ اﻟﻜﺒرية اﻟﺘﻲ ﻳﺘﻢ ﻋﺮﺿﻬﺎ ﺑﺸﻜﻞ ﺟﻴﺪ‪.‬‬ ‫وﻗﺪ أﻇﻬﺮ ﺑﻌﺾ اﻟﺒﺎﻋﺔ ﺗﺮدد ﰲ وﺿﻊ ﻣﻨﺎزﻟﻬﻢ ﰲ اﻟﺴﻮق ﻗﺒﻞ ﻧﺘﻴﺠﺔ‬ ‫اﻻﺳﺘﻔﺘﺎء ﻋﲆ اﻻﺳﺘﻘﻼل ﰲ ﺳﺒﺘﻤﱪ ﻋﺎم ‪ ،2014‬وﻟﻜﻦ ﻫﺬا مل ميﻨﻊ‬ ‫اﳌﺸﱰﻳﻦ ﺣﻴﺚ وﺻﻞ ﻋﺪد اﳌﻌﺎﻳﻨﺎت ﰲ أﺳﻮاق اﻟﻌﻘﺎرات اﻹﺳﻜﺘﻠﻨﺪﻳﺔ‬ ‫اﳌﻤﻴﺰة ﺧﻼل اﻟﺮﺑﻊ اﻷول ﻣﻦ ﻋﺎم ‪ 2014‬إﱃ ﺿﻌﻔﻲ ﻋﺪد اﳌﻌﺎﻳﻨﺎت‬ ‫ﰲ ﻧﻔﺲ اﻟﻔﱰة ﻣﻦ اﻟﻌﺎم اﳌﺎﴈ‪.‬‬ ‫‪www.valoran.ae‬‬

‫وﻓﻘﺎً ﻟﺘﺤﻠﻴﻞ ﻧﺎﻳﺖ ﻓﺮاﻧﻚ‪ ،‬ﻛﺎن ﻣﺴﺘﻮى اﳌﺨﺰون ﻣﻦ اﻟﻌﻘﺎرات اﳌﻤﻴﺰة‬ ‫ﺑﺈﺳﺘﺜﻨﺎء ادﻧﱪه أﻗﻞ ﺑﻨﺴﺒﺔ ‪ 26‬ﰲ اﳌﺎﺋﺔ ﻣﻦ ﻋﺪد اﻟﻌﻘﺎرات ﰲ اﻟﺴﻮق‬ ‫ﰲ ﻧﻔﺲ اﻟﻮﻗﺖ ﻣﻦ ﻋﺎم ‪ .2013‬وإرﺗﻔﻊ ﻋﺪد اﻟﻌﻘﺎرات ﰲ ﴍﻳﺤﺔ‬ ‫اﳌﻠﻴﻮن ﺟﻨﻴﻪ إﺳﱰﻟﻴﻨﻲ ارﺗﻔﺎﻋﺎ ﻛﺒريا ﰲ اﻟﻨﺼﻒ اﻟﺜﺎين ﻣﻦ ‪ 2013‬وﻓﻘﺎً‬ ‫ﻟﺒﻴﺎﻧﺎت ﻣﻦ ﺳﺠﻼت اﺳﻜﺘﻠﻨﺪا‪.‬‬ ‫وﺗﻢ ﺗﺴﺠﻴﻞ ﺣﻮاﱄ ‪ 68‬ﻋﻤﻠﻴﺔ ﺑﻴﻊ ﻟﻠﻌﻘﺎرات اﻷﻋﲆ ﻣﻦ ﻣﻠﻴﻮن ﺟﻨﻴﻪ‬ ‫إﺳﱰﻟﻴﻨﻲ ﰲ اﻟﻨﺼﻒ اﻟﺜﺎين ﻣﻦ ﻋﺎم ‪ 2013‬ﻣﻘﺎرﻧﺔ ب ‪ 37‬ﻓﻘﻂ ﰲ‬ ‫اﻟﻨﺼﻒ اﻷول ﻣﻦ ﻋﺎم ‪ .2013‬وﻫﺬه ﻋﻼﻣﺔ ﻋﲆ ﺛﻘﺔ اﳌﺴﺘﺜﻤﺮﻳﻦ ﰲ‬ ‫اﻻزدﻳﺎد‪ .‬وﺷﻬﺪت ادﻧﱪه أﻛﱪ ﻋﺪد ﻣﻦ ﻣﺒﻴﻌﺎت اﻟﻌﻘﺎرات اﻻﻋﲆ ﻣﻦ‬ ‫ﻣﻠﻴﻮن ﺟﻨﻴﻪ اﺳﱰﻟﻴﻨﻲ ﰲ ﻋﺎم ‪ ،2013‬ﻣﻊ ‪ 62‬ﻋﻘﺎر ﺗﻢ ﺑﻴﻌﻪ ﰲ ﻋﺎم‬ ‫‪ ،2013‬وﻫﻮ ﺿﻌﻔﻲ أﻳﺔ ﺳﻠﻄﺔ ﻣﺤﻠﻴﺔ أﺧﺮى ﰲ اﺳﻜﺘﻠﻨﺪا‪ .‬ﺳﺠﻠﺖ‬ ‫ﻣﺪﻳﻨﺔ أﺑﺮدﻳﻦ وأﺑﺮدﻳﻨﺸﺎﻳﺮ ﺛﺎين أﻋﲆ ﻋﺪد ﻣﻦ اﳌﺒﻴﻌﺎت‪ ،‬واﻟﺘﻲ متﺜﻞ‬ ‫‪ 13‬ﰲ اﳌﺎﺋﺔ ﻣﻦ إﺟامﱄ اﻟﺴﻮق ﰲ ﻋﺎم ‪.2013‬‬


‫‪Valoran Real Estate Brokers‬‬ ‫‪Your Lifestyle Broker‬‬

‫ﻳﻘﻊ ﻣﴩوع اﻟﺠﺪاف ﰲ ﻏﺮب ديب‪ ،‬ﺣﻴﺚ ﻳﺤﺪه ﺧﻮر ديب ﰲ ﺷامﻟﻪ‬ ‫وﴍﻗﻪ‪ ،‬وزﻋﺒﻴﻞ إﱃ ﺟﻨﻮﺑﻪ و أم ﻫﺮﻳﺮ )‪ (2‬إﱃ اﻟﻐﺮب ﻣﻨﻪ‪ .‬ﺣﻴﺚ ﻳﺘﻢ‬ ‫ﺗﻄﻮﻳﺮ ﻣﻨﻄﻘﺔ ﺗﺴﺘﺨﺪم ﻟﺒﻨﺎء اﳌﺮاﻛﺐ اﻟﴩاﻋﻴﺔ‪ ،‬ﻳﺘﻢ ﺗﻄﻮﻳﺮ ﺣﻮاﱄ‬ ‫‪ 100.27‬ﻫﻜﺘﺎر ﻣﻦ ﻗﺒﻞ ﻣﺠﻤﻮﻋﺔ ﺑﻨﻴﺎن ﻟﻴﻜﻮن مبﺜﺎﺑﺔ ﻣﴩوع ﻣﺘﻌﺪد‬ ‫اﻻﺳﺘﺨﺪاﻣﺎت ﻣﻊ اﳌﻜﺎﺗﺐ‪ ،‬اﻟﻔﻨﺎدق واﳌﺴﺎﻛﻦ اﻟﺘﻲ ﺳﻴﻜﻮن ﻟﻬﺎ ﻣﺮاﻓﻖ‬ ‫اﻟﺒﻨﻴﺔ اﻟﺘﺤﺘﻴﺔ اﳌﻤﺘﺎزة‪ .‬ﻃﺮﻳﻖ ﴎﻳﻊ ﻣﻦ ‪ 12‬ﺣﺎرة ﻳﺮﺑﻄﻪ مبﻄﺎر ديب‬ ‫اﻟﺪوﱄ‪ ،‬وﻳﻮﻓﺮ ﺳﻬﻮﻟﺔ اﻟﻮﺻﻮل إﱃ ﺷﺎرع اﻟﺸﻴﺦ زاﻳﺪ ﺣﻴﺚ ميﻜﻦ‬ ‫اﻟﻮﺻﻮل ﻫﻨﺎك إﱃ اﳌﻨﺎﻃﻖ اﻟﺘﺠﺎرﻳﺔ اﻷﺧﺮى ﺑﺴﻬﻮﻟﺔ أﻳﻀﺎً‪ .‬ﺑﺎﻹﺿﺎﻓﺔ‬ ‫إﱃ ذﻟﻚ‪ ،‬ﻗﺮﺑﻪ ﻣﻦ ﺧﻮر ديب ﻳﻌﺪ ﻣﻴﺰة رﺋﻴﺴﻴﺔ‪ .‬ﰲ اﻵوﻧﺔ اﻷﺧرية‪ ،‬ﺗﻢ‬ ‫متﺪﻳﺪ اﻟﺨﻂ اﻷﺧﴬ ﻣﻦ ﻣﱰو ديب إﱃ ﻣﺤﻄﺔ اﻟﺠﺪاف‪ ،‬ﻣام ﻳﺠﻌﻞ‬ ‫اﳌﻨﻄﻘﺔ أﻛرث ﻳﴪا ً ﻟﻠﻮﺻﻮل إﻟﻴﻬﺎ ﻣﻦ اﻷﺟﺰاء اﻷﺧﺮى ﻣﻦ اﳌﺪﻳﻨﺔ‪.‬‬ ‫ﻣﻦ ﺑني اﻟﺘﻄﻮرات اﻷﺧرية ﰲ اﻟﺠﺪاف ﻧﺠﺪ ﻓﻨﺪق ﻣﺎرﻳﻮت ديب‪ ،‬واﻟﺬي‬ ‫ﻳﻀﻢ ﺗﻄﻮرا ً ﻣﻦ ﺟﺰﺋني ﰲ اﳌﻨﻄﻘﺔ‪ .‬اﻓﺘﺘﺢ اﻟﻔﻨﺪق ﰲ وﻗﺖ ﺳﺎﺑﻖ ﻣﻦ‬

‫ﻫﺬا اﻟﻌﺎم‪ ،‬ﰲ ﺣني أن ﺷﻘﻖ ﻣﺎرﻳﻮت اﻟﻔﻨﺪﻗﻴﺔ اﳌﺘﺎﺧﻤﺔ ﺳﻴﺘﻢ ﺗﺸﻴﻐﻠﻬﺎ‬ ‫ﻗﺮﻳﺒﺎً‪.‬‬ ‫اﻟﺨﻄﺔ اﻟﺮﺋﻴﺴﻴﺔ ﻟﻠﺘﻄﻮﻳﺮ ﺗﻀﻢ ‪ 200‬ﻗﻄﻌﺔ أراﴈ ﻣﺘﻌﺪدة‬ ‫اﻹﺳﺘﺨﺪاﻣﺎت ﺣﻴﺚ ميﻜﻦ اﺳﺘﺨﺪاﻣﻬﺎ ﻟﻠﻤﺸﺎرﻳﻊ اﻟﺴﻜﻨﻴﺔ‪ ،‬اﻟﺘﺠﺰﺋﺔ‪،‬‬ ‫اﻟﺘﺠﺎرﻳﺔ أو اﻟﻀﻴﺎﻓﺔ‪ .‬وﺗﱰاوح أﺣﺠﺎم اﻟﻘﻄﻊ ﻣﻦ ‪ 9,150‬إﱃ ‪26,266‬‬ ‫ﻗﺪم ﻣﺮﺑﻊ‪.‬‬ ‫وﻓﻘﺎً ﳌﺆﴍات ‪ ،Reidin.com‬ﻳﺼﻞ ﻣﺘﻮﺳﻂ ﺳﻌﺮ اﻟﻘﺪم اﳌﺮﺑﻊ‬ ‫ﻟﻸراﴈ ﰲ اﻟﺠﺪاف إﱃ ‪ 326.8‬دوﻻر أﻣﺮﻳيك وﻣﺘﻮﺳﻂ ﺳﻌﺮ اﻟﺼﻔﻘﺔ‬ ‫إﱃ ‪ 4,440,342‬دوﻻر أﻣﺮﻳيك ﺗﱰاوح ﺑني اﻟﺤﺪ اﻷدين ﻟﻘﻴﻤﺔ اﻟﺼﻔﻘﺔ‬ ‫وﻫﻮ ‪ 896,323‬دوﻻر أﻣﺮﻳيك واﻟﺤﺪ اﻷﻗﴡ وﻫﻮ ‪ 15,110,267‬دوﻻر‬ ‫أﻣﺮﻳيك‪.‬‬ ‫‪Al Jaddaf – Sales Transactions for the past 6 months‬‬ ‫‪326.8‬‬

‫]‪Median Price [USD/SQF‬‬

‫‪81.20‬‬

‫]‪Min Price [USD/SQF‬‬

‫‪494.3‬‬

‫]‪Max Price [USD/SQF‬‬

‫‪14‬‬

‫‪No. of Transactions‬‬

‫‪78,868,662‬‬

‫]‪Total Value [USD/SQF‬‬

‫‪23,432‬‬

‫]‪Total Size [USD/SQF‬‬

‫‪4,440,342‬‬

‫]‪Median Transaction Price [USD/SQF‬‬

‫‪896,323‬‬

‫]‪Min Transaction Price [USD/SQF‬‬

‫‪15,110,267‬‬

‫]‪Max Transaction Price [USD/SQF‬‬

‫‪:‬‬

‫‪11‬‬


‫‪- 17‬‬

‫‪2014‬‬

‫ﻏﺮﻓﺘﻲ ﻧﻮم‪ 3 ،‬ﻏﺮف ﻧﻮم‪ 4 ،‬ﻏﺮف ﻧﻮم‪ ،‬ﺳﺐ ﺑﻨﺘﻬﺎوس وﺑﻨﺘﻬﺎوس‪.‬‬ ‫ﺳﻮف ﻳﻀﻢ اﻟﱪج ﻣﺎ ﻣﺠﻤﻮﻋﻪ ‪ 575‬وﺣﺪة ﺗﻘﻊ ﺑﺎﻟﻘﺮب ﻣﻦ ﺑﻼزو‬ ‫ﻓريﺳﺎﺗﴚ‪.‬‬ ‫وﺗﺸﻤﻞ اﳌﺸﺎرﻳﻊ اﻟﺴﻜﻨﻴﺔ اﻷﺧﺮى اﻳﺮﻳﺲ اﻟﻌﻨﱪ )اﻟﺬي ﺻﻤﻤﻪ‬ ‫أﺗﻜﻴﻨﺰ(‪ ،‬ﺑﺮج ﻧﻮر )ﺑﺮج ﻣﻦ ‪ 27‬ﻃﺎﺑﻖ ﻣﻦ إﻧﺸﺎء اﻹﻣﺎرات ﺻﻦ ﻻﻧﺪ ﻣﻊ‬ ‫ﺷﻘﻖ ﻣﻦ ﻏﺮﻓﺔ ﻧﻮم واﺣﺪة وﻏﺮﻓﺘﻲ ﻧﻮم ﻣﻔﺮوﺷﺔ ﺑﺎﻟﻜﺎﻣﻞ‪ ،‬ﺑﺎﻹﺿﺎﻓﺔ‬ ‫إﱃ اﺛﻨني ﻣﻦ اﻟﺒﻨﺘﻬﺎوس اﳌﻜﻮﻧﺔ ﻣﻦ ‪ 5‬ﻏﺮف ﻧﻮم(‪ ،‬ﺑﺮج اﻟﻌﻘﺎرﻳﺔ )ﺑﺮج‬ ‫ﻣﻦ ‪ 21‬ﻃﺎﺑﻘﺎً ﻣﺘﻌﺪد اﻻﺳﺘﺨﺪاﻣﺎت ﻣﻦ إﻧﺸﺎء دﻳﺮاج إﻳﺴﺖ ﻛﻮﺳﺖ‬ ‫وﻳﻀﻢ اﺳﺘﻮدﻳﻮﻫﺎت‪ ،‬وﺷﻘﻖ ﻣﻜﻮﻧﺔ ﻣﻦ ﻏﺮﻓﺔ ﻧﻮم واﺣﺪة‪ ،‬ﻏﺮﻓﺘﻲ ﻧﻮم‬ ‫و ﺛﻼث ﻏﺮف ﻧﻮم( وﻳﻮﰲ رﻳﺰﻳﺪاﻧﺲ )ﺷﻘﺔ ﻣﻦ ‪ 8‬ﻃﻮاﺑﻖ ﻣﻦ إﻧﺸﺎء‬ ‫دﻳﺮاج إﻳﺴﺖ ﻛﻮﺳﺖ أﻳﻀﺎً وﻳﻀﻢ ﺷﻘﻘﺎً ﻣﻜﻮﻧﺔ ﻣﻦ ﻏﺮﻓﺔ ﻧﻮم واﺣﺪة‪،‬‬ ‫ﻏﺮﻓﺘﻲ ﻧﻮم‪ ،‬وﺛﻼث ﻏﺮف ﻧﻮم(‪.‬‬ ‫أﻋﻠﻨﺖ ديب ﻟﻠﻌﻘﺎرات أﻳﻀﺎً ﻋﻦ إﻃﻼق ﻣﻨﺎزل اﻟﺨﻮر‪ ،‬وﻫﻮ ﺗﻄﻮر ﻳﻀﻢ‬ ‫ﺷﻘﻖ ﻣﻜﻮﻧﺔ ﻣﻦ ﺛﻼث وأرﺑﻊ ﻏﺮف ﻧﻮم‪ ،‬واﻟﺬي ﺳﻴﺘﻢ اﻻﻧﺘﻬﺎء ﻣﻨﻪ‬ ‫ﻣﻨﺘﺼﻒ ﻋﺎم ‪.2016‬‬

‫اﳌﻨﺎﻃﻖ اﻟﺘﺠﺎرﻳﺔ واﻟﺘﺠﺰﺋﺔ‬ ‫ﺳﻮف ﻳﻀﻢ اﻟﺤﻲ اﻟﺘﺠﺎري ﰲ ﻗﺮﻳﺔ اﻟﱰاث اﳌﺪارس واﻷﻛﺎدميﻴﺎت‬ ‫اﻟﻔﻨﻴﺔ‪ ،‬مبﺎ ﰲ ذﻟﻚ ﺗﻠﻚ اﳌﺘﺨﺼﺼﺔ ﰲ اﻟﻔﻨﻮن اﻟﺒﴫﻳﺔ‪ ،‬اﻟﻔﻨﻮن اﻷداﺋﻴﺔ‬ ‫واﻷدﺑﻴﺔ‪ ،‬واﳌﺆﺳﺴﺎت اﻟﺜﻘﺎﻓﻴﺔ اﻟﺘﻲ ﺳﻴﻜﻮن ﻟﻬﺎ اﻟﺒﻨﻴﺔ اﻟﺘﺤﺘﻴﺔ واﳌﺮاﻓﻖ‬ ‫ذات اﳌﺴﺘﻮى اﻟﻌﺎﳌﻲ‪ .‬واﻟﻨﻘﻄﺔ اﳌﺤﻮرﻳﺔ ﳌﻨﻄﻘﺔ اﻟﺘﺠﺰﺋﺔ ﺳﻮف ﺗﻜﻮن‬ ‫اﻟﺴﻮق اﻟﻌﺮيب اﻟﺮﻳﻔﻲ اﻟﺬي ﻣﻦ ﺷﺄﻧﻪ ﺗﻮﻓري اﻟﺤﺮف‪ ،‬اﻟﺘﺤﻒ واﻟﺘﻮاﺑﻞ‪.‬‬ ‫ﺑﺎﻹﺿﺎﻓﺔ إﱃ ذﻟﻚ‪ ،‬ﺳﻮف ﺗﻜﻮن اﻟﻔﻨﺎدق اﻟﻔﺎﺧﺮة‪ ،‬اﳌﻄﺎﻋﻢ‪ ،‬اﳌﻘﺎﻫﻲ‪،‬‬ ‫اﳌﻜﺘﺒﺎت وﺻﺎﻻت اﻟﻌﺮض ﺟﺰءا ﻣﻦ ﻣﺠﻤﻊ اﻟﺘﺠﺰﺋﺔ‪.‬‬

‫ﻗﺮﻳﺔ اﻟﱰاث ﺳﻮف ﺗﻀﻢ ﺷﻘﻘﺎً ﻟﻠﺒﻴﻊ ﻓﻘﻂ ﺑﺪءا ﻣﻦ اﻻﺳﺘﻮدﻳﻮﻫﺎت إﱃ‬ ‫‪ 6‬ﻏﺮف ﻧﻮم‪ .‬وﺑﻠﻎ ﻣﺘﻮﺳﻂ ﺳﻌﺮ اﻟﺸﻘﻖ ‪ 8,553,752‬درﻫﻢ‬ ‫واﻷﺳﺘﻮدﻳﻮﻫﺎت ﺗﺒﺪأ ﻣﻦ ‪ 1,25,000‬درﻫﻢ‪ .‬أﻣﺎ اﻟﺸﻘﻖ اﻷﻏﲆ ﻫﻲ‬ ‫ﺗﻠﻚ اﳌﻜﻮﻧﺔ ﻣﻦ ﺧﻤﺲ ﻏﺮف ﻧﻮم وﺳﺖ ﻏﺮف ﻧﻮم‪ ،‬واﻟﺘﻲ ميﻜﻦ أن‬ ‫ﻳﺼﻞ ﺳﻌﺮﻫﺎ إﱃ ‪ 54,267,599‬درﻫﻢ‪.‬‬

‫‪4BMF 1SJDFT‬‬ ‫‪Apartment‬‬ ‫‪Avg. Price: AED 8,553,753‬‬ ‫‪Price Range: AED 1,250,000 - AED 54,267,599‬‬

‫‪PrPperUJFT bZ bFE rPPNT‬‬

‫‪t bed‬‬

‫‪t bed‬‬

‫‪t bed‬‬

‫‪t CFE t 4UVEJP‬‬

‫‪t bed‬‬

‫‪t bed‬‬

‫‪Villa‬‬ ‫‪Avg. Price: N/A‬‬ ‫‪Price Range: N/A‬‬

‫‪PrPpertZ types‬‬

‫‪t Villa t Apartment‬‬

‫‪Source: propertyfinder.ae‬‬

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‫ﻗﺮﻳﺔ اﻟﱰاث ﻫﻲ ﻣﴩوع ﻣﺘﻌﺪد اﻻﺳﺘﺨﺪاﻣﺎت ﻣﻦ ﻗﺒﻞ ﻣﺠﻤﻮﻋﺔ ديب‬ ‫ﻟﻠﻌﻘﺎرات‪ .‬ﺗﻘﻊ ﻋﲆ ﻃﻮل ﺷﺎﻃﺊ ﺧﻮر ديب‪ ،‬اﻟﺨﻄﺔ اﻟﺮﺋﻴﺴﻴﺔ ﻟﻠﺘﻄﻮﻳﺮ‬ ‫ﺗﺘﻀﻤﻦ اﳌﻨﺎﻃﻖ اﻟﺴﻜﻨﻴﺔ‪ ،‬اﻟﺒﻴﻊ ﺑﺎﻟﺘﺠﺰﺋﺔ واﻟﺘﺠﺎرﻳﺔ‪ ،‬واﻟﺘﻲ ﺳﻮف‬ ‫ﺗﻜﻮن ذات ﻃﺎﺑﻊ ﻋﺮيب‪ .‬وﺳﻮف ﻳﺘﻢ رﺑﻂ اﳌﴩوع ﺑﺮﻣﺘﻪ ﺑﺸﺒﻜﺔ ﻣﻦ‬ ‫اﳌﻤﺮات ﺑﻄﻮل ‪ 3.8‬ﻛﻢ‪ .‬وميﻜﻦ اﻟﻮﺻﻮل إﱃ اﳌﴩوع ﻣﻦ ﻣﻄﺎر ديب‬ ‫اﻟﺪوﱄ وﻛﺬﻟﻚ ﺟﴪ اﻟﻘﺮﻫﻮد وﻣﻌﱪ اﻟﺨﻠﻴﺞ اﻟﺘﺠﺎري‪ ،‬ﻣام ﻳﻮﻓﺮ ﺳﻬﻮﻟﺔ‬ ‫اﻟﻮﺻﻮل إﱃ اﳌﻨﺎﻃﻖ اﻟﺘﺠﺎرﻳﺔ واﻟﺴﻜﻨﻴﺔ اﻷﺧﺮى ﰲ اﳌﺪﻳﻨﺔ‪.‬‬

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‫اﳌﻨﻄﻘﺔ اﻟﺴﻜﻨﻴﺔ‬ ‫ﺳﻮف ﺗﻮﺟﺪ ﻋﺪة أﺑﺮاج ﺳﻜﻨﻴﺔ ﰲ ﻗﺮﻳﺔ اﻟﱰاث‪ ،‬وﻣﻊ ﻣﻮﻗﻌﻬﺎ ﻋﲆ‬ ‫اﻟﺨﻮر‪ ،‬ﺳﻮف ﺗﺘﻤﺘﻊ اﻟﻌﺪﻳﺪ ﻣﻦ اﻟﺸﻘﻖ مبﻨﺎﻇﺮ ﺧﻼﺑﺔ ﻋﲆ اﻟﻮاﺟﻬﺔ‬ ‫اﻟﺒﺤﺮﻳﺔ‪ .‬وﺳﻮف ﻳﻜﻮن اﻟﻌﺪﻳﺪ ﻣﻦ اﳌﺴﺎﻛﻦ اﻟﻔﺎﺧﺮة ﻛﺠﺰء ﻣﻦ اﳌﻨﻄﻘﺔ‬ ‫اﻟﺴﻜﻨﻴﺔ‪ ،‬مبﺎ ﰲ ذﻟﻚ ﺑﻼزو ﻓريﺳﺎﺗﴚ اﻟﺬي ﺳﻴﻀﻢ ‪ 169‬ﻣﻦ اﻟﻮﺣﺪات‬ ‫اﻟﺴﻜﻨﻴﺔ اﻟﻔﺎﺧﺮة اﻟﺘﻲ ﺗﱰاوح ﺑني ﻏﺮﻓﺔ ﻧﻮم واﺣﺪة إﱃ ﺛﻼث ﻏﺮف ﻧﻮم‬ ‫ﻣﻊ ﺗﻮﻓﺮ اﻟﺨﺪﻣﺎت اﻟﻔﻨﺪﻗﻴﺔ‪.‬‬ ‫ﻣﻦ ﺑني اﻷﺑﺮاج اﻟﺴﻜﻨﻴﺔ ﰲ ﻗﺮﻳﺔ اﻟﱰاث ﻳﺄيت اﳌﴩوع اﻟﻔﺎﺧﺮ ﺑﺮج ‪D1‬‬ ‫اﻟﺬي ﺗﻢ إﻧﺸﺎؤه ﻣﻦ ﻗﺒﻞ ﴍﻛﺔ ‪ ،ENSHAA PSC‬وﻳﻀﻢ ‪ 80‬ﻃﺎﺑﻘﺎً‬ ‫ﻣﻜﻮﻧﺎً ﻣﻦ ﺷﻘﻖ اﻻﺳﺘﻮدﻳﻮ‪ ،‬اﻟﺸﻘﻖ اﳌﻜﻮﻧﺔ ﻣﻦ ﻏﺮﻓﺔ ﻧﻮم واﺣﺪة‪،‬‬ ‫‪9‬‬


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‫‪2014‬‬

‫ﻣﻊ ﺗﺠﻤﻴﺪ أﺳﻮاق اﻟﺪﻳﻮن اﻟﺮوﺳﻴﺔ ﰲ أﻋﻘﺎب اﻷزﻣﺔ أوﻛﺮاﻧﻴﺎ‪ ،‬إﻛﺘﺴﺐ‬ ‫ﻋﺪد ﻗﻠﻴﻞ ﻣﻦ اﻟﺪول اﻟﻐﻨﻴﺔ ﺑﺎﻟﻨﻔﻂ ﰲ اﻟﺨﻠﻴﺞ ﺣﺼﺔ ﻏري ﻣﺘﻮﻗﻌﺔ ﻣﻦ‬ ‫اﳌﺎل اﻟﻌﺎﳌﻲ‪.‬‬ ‫ﻣﺒﻴﻌﺎت إﺛﻨني ﻣﻦ اﻟﺴﻨﺪات اﳌﺰﻣﻊ ﻋﻘﺪﻫﺎ ﰲ ﻧﻬﺎﻳﺔ ﺷﻬﺮ أﺑﺮﻳﻞ ﺳﻠﻄﺖ‬ ‫اﻟﻀﻮء ﻋﲆ ﺣﻈﻮظ ﻣﺘﻐرية ﻟﻸﺳﻮاق اﻟﻨﺎﺷﺌﺔ‪ .‬ﰲ ﺣني اﺿﻄﺮت روﺳﻴﺎ‬ ‫إﱃ إﻟﻐﺎء إﺻﺪار ﺳﻨﺪات اﻟﺤﻜﻮﻣﺔ ﺑﺴﺒﺐ ﻣﻄﺎﻟﺒﺔ اﳌﺴﺘﺜﻤﺮﻳﻦ ﺑﻔﺎﺋﺪة‬ ‫ﺗﻌﺘﱪ ﻋﺎﻟﻴﺔ ﺟﺪا ﻣﻦ ﻗﺒﻞ اﻟﺪوﻟﺔ‪ ،‬متﻜﻨﺖ ديب ﻣﻦ ﺟﺬب دﻳﻮن ﻗﻴﻤﺘﻬﺎ‬ ‫‪ 750‬ﻣﻠﻴﻮن دوﻻر أﻣﺮﻳيك‪ ،‬ﻟﻠﻤﺮة اﻷوﱃ ﰲ ‪ 18‬ﺷﻬﺮا ً‪ .‬ﻣﻊ اﻻﺿﻄﺮاﺑﺎت‬ ‫ﰲ أوﻛﺮاﻧﻴﺎ اﻟﺘﻲ ﺗﺴﺒﺒﺖ ﰲ ﺣﺪوث متﻮﺟﺎت ﻋﱪ أﺳﻮاق رأس اﳌﺎل‪،‬‬ ‫أﺻﺒﺢ اﳌﺴﺘﺜﻤﺮون ﻳﺒﺤﺜﻮن ﰲ اﻟﴩق اﻷوﺳﻂ ﻛﺨﻴﺎر أﻛرث أﻣﻨﺎً‪.‬‬ ‫وأﺷﺎرت ﻣﺬﻛﺮة ﺑﺤﺜﻴﺔ ﻟﺒﻨﻚ ‪ HSBC‬أﻧﻪ ﻣﻊ ﻓﺸﻞ اﻷﺳﻮاق اﻟﻨﺎﺷﺌﺔ‬ ‫اﻟﺮﺋﻴﺴﻴﺔ ﰲ ﻣﻮاﻛﺒﺔ ﻣﻌﺪﻻت اﻟﻨﻤﻮ اﻟﺴﺎﺑﻘﺔ ﻟﻬﺎ‪ ،‬ﻣﻦ اﳌﺤﺘﻤﻞ أن‬ ‫ﺗﺘﺪﻓﻖ إﱃ اﻷﺳﻮاق اﻷﺻﻐﺮ ﺣﺠامً‪ ،‬ﻣﺜﻞ اﻹﻣﺎرات اﻟﻌﺮﺑﻴﺔ اﳌﺘﺤﺪة‪،‬‬ ‫ﻗﻄﺮ وﺳﻠﻄﻨﺔ ﻋامن‪ ،‬واﻟﺘﻲ ﻟﺪﻳﻬﺎ اﻗﺘﺼﺎدات ﻗﻮﻳﺔ‪ .‬ﺑﺎﻟﻨﺴﺒﺔ ﻟﺪول‬ ‫اﻟﺨﻠﻴﺞ‪ ،‬ﻳﺄيت ﻫﺬا اﻻﺗﺠﺎه ﰲ ﻟﺤﻈﺔ ﻣﻨﺎﺳﺒﺔ‪ ،‬ﰲ اﻟﻮﻗﺖ اﻟﺬي ﺗﺴﺘﻌﺪ‬ ‫ﻓﻴﻪ اﳌﻨﻄﻘﺔ ﻷﺣﺪاث ﺿﺨﻤﺔ‪ .‬ﺣﻴﺚ أن ﻫﻨﺎك اﺳﺘﺜامرات ﻋﲆ ﻧﻄﺎق‬ ‫واﺳﻊ ﰲ ﻃﺮﻳﻘﻬﺎ إﱃ ديب ﳌﻌﺮض اﻛﺴﺒﻮ اﻟﻌﺎﳌﻰ ﻋﺎم ‪ ،2020‬ﰲ ﺣني أن‬ ‫ﻗﻄﺮ ﺳﻮف ﺗﺴﺘﻀﻴﻒ ﻛﺄس اﻟﻌﺎمل ‪.2022‬‬

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‫ﰲ ديب‪ ،‬ﻛﺎن ﻃﺮح اﻟﺴﻨﺪات اﻹﺳﻼﻣﻴﺔ ﳌﺪة ‪ 15‬ﻋﺎﻣﺎً ﻗﺪ زاد اﻹﻛﺘﺘﺎب‬ ‫ﻋﻠﻴﻬﺎ ﺛﻼﺛﺔ أﺿﻌﺎف‪ ،‬وﺟﺬب اﳌﺴﺘﺜﻤﺮﻳﻦ ﻣﻦ آﺳﻴﺎ‪ ،‬أوروﺑﺎ‪ ،‬اﳌﻤﻠﻜﺔ‬ ‫اﳌﺘﺤﺪة واﻟﴩق اﻷوﺳﻂ‪ .‬واﻟﺴﻨﺪات‪ ،‬اﳌﻌﺮوﻓﺔ ﺑﺎﺳﻢ اﻟﺼﻜﻮك‪ ،‬دﻓﻌﺖ‬ ‫اﻟﻌﺎﺋﺪ ﻋﲆ اﻷرﺑﺎح اﳌﺘﻮﻟﺪة ﻣﻦ اﻷﺻﻮل اﳌﻠﻤﻮﺳﺔ ﺑﺪﻻً ﻣﻦ اﻟﻔﺎﺋﺪة‪،‬‬ ‫وﻫﻮ أﻣﺮ ﻣﺤﻈﻮر مبﻮﺟﺐ اﻟﻘﺎﻧﻮن اﻹﺳﻼﻣﻲ‪.‬‬ ‫ﻣﻊ ارﺗﻔﺎع أﺳﻌﺎر اﻟﻨﻔﻂ‪ ،‬ﺗﺴﺘﻤﺮ اﻻﻗﺘﺼﺎدات ﰲ اﻟﻨﻤﻮ و أﺳﻮاق اﻷﺳﻬﻢ‬ ‫ﺗﺆدي أداءا ً ﺟﻴﺪا ً‪ ،‬اﻟﺸﻬﺮ اﻟﻘﺎدم‪ ،‬ﺳﻮف ﻳﺮﻓﻊ ﻣﺆﴍ ﺳﻮق اﻷﺳﻬﻢ‬ ‫‪ MSCI‬ﻣﻦ ﺗﺼﻨﻴﻒ اﻹﻣﺎرات اﻟﻌﺮﺑﻴﺔ اﳌﺘﺤﺪة وﻗﻄﺮ ﻣﻦ "ﺳﻮق‬ ‫ﻣﺒﺘﺪﺋﺔ" إﱃ "ﺳﻮق ﻧﺎﺷﺌﺔ"‪ .‬ﺗﺰاﻳﺪ اﻟﺘﻔﺎؤل ﺑﺸﺄن اﻗﺘﺼﺎدات اﻟﺨﻠﻴﺞ ﻗﺪ‬ ‫أدى ﺑﻌﺾ اﳌﺤﻠﻠني إﱃ اﻟﺘﻜﻬﻦ ﺑﺄن ‪ 2014‬ميﻜﻦ أن ﻳﺼﻞ إﱃ ‪ 50‬ﻣﻠﻴﺎر‬ ‫دوﻻر اﻟﺘﻲ ﺣﻘﻘﺘﻬﺎ ﺳﻨﺪات اﻟﴩﻛﺎت واﻟﺴﻨﺪات اﻟﺴﻴﺎدﻳﺔ ﰲ ﻋﺎم‬ ‫‪ ،2012‬وﻟﻜﻦ اﻟﺒﻴﺎﻧﺎت ﻣﻦ دﻳﻠﻮﺟﻴﻚ ﻳﺒﺪو أﻧﻬﺎ ﺗﺸري إﱃ ﺧﻼف ذﻟﻚ‬ ‫ﺣﻴﺚ أن ﻣﺠﻤﻮع ﻣﺒﻴﻌﺎت اﻟﺪﻳﻮن ﰲ اﻟﺨﻠﻴﺞ ‪ 11.3‬ﻣﻠﻴﺎر دوﻻر ﻓﻘﻂ‬ ‫ﺣﺘﻰ اﻻن ﻫﺬا اﻟﻌﺎم ﻣﻘﺎرﻧﺔ ﻣﻊ ‪ 16.3‬ﻣﻠﻴﺎر دوﻻر ﰲ ﻧﻔﺲ اﻟﻔﱰة‬ ‫ﺧﻼل ﻋﺎم ‪.2013‬‬ ‫ﻣﻊ إرﺗﻔﺎع ﻣﻌﺪل اﻟﻨﺸﺎط‪ ،‬ﻓﺈﻧﻪ ﻻ ﻳﺰال ﻣﻦ اﻟﺴﺎﺑﻖ ﻷواﻧﻪ ﻣﻌﺮﻓﺔ ﻣﺎ‬ ‫إذا ﻛﺎﻧﺖ اﳌﺰﻳﺪ ﻣﻦ اﻟﴩﻛﺎت واﻟﺤﻜﻮﻣﺎت ﺳﻮف ﺗﺴﺘﻔﻴﺪ ﻣﻦ ﻇﺮوف‬ ‫اﻟﺴﻮق اﳌﻮاﺗﻴﺔ ﻹﺻﺪار اﻟﺪﻳﻮن‪ .‬وﻣﻊ ذﻟﻚ‪ ،‬ﺗﻌﺪ أﺳﻮاق رأس اﳌﺎل ﰲ‬ ‫اﻟﴩق اﻷوﺳﻂ ﺻﻐرية ﻧﺴﺒﻴﺎ ﰲ اﻟﻮﻗﺖ اﻟﺤﺎﴐ‪ ،‬وﻋﲆ اﻟﺮﻏﻢ ﻣﻦ أﻧﻬﺎ‬ ‫ﻗﺪ ﺗﺴﺘﻔﻴﺪ ﻣﻦ اﻻﺿﻄﺮاﺑﺎت ﰲ روﺳﻴﺎ وأوﻛﺮاﻧﻴﺎ‪ ،‬مل ﻳﻜﻦ ﻟﺪﻳﻬﺎ اﻟﻘﺪرة‬ ‫ﻋﲆ اﺳﺘﻴﻌﺎب ﺗﺪﻓﻖ ﻛﺎﻣﻞ اﻻﺳﺘﺜامرات ﻣﻦ ﺗﻠﻚ اﳌﻨﺎﻃﻖ‪.‬‬


‫‪Valoran Real Estate Brokers‬‬ ‫‪Your Lifestyle Broker‬‬

‫ﺷﻬﺪ اﳌﺆﴍ اﻟﺮﺋﻴﴘ ﰲ ديب ﺻﻌﻮدا ً ﻣﺴﺘﻤﺮا ً ﻋﻨﺪ ﻧﻬﺎﻳﺔ أﺑﺮﻳﻞ ﺑﺴﺒﺐ‬ ‫أن اﻟﴩﻛﺎت اﻟﻌﻘﺎرﻳﺔ ﺗﺸﻬﺪ اﻧﺘﻌﺎﺷﺎً ﻣﻨﺬ اﻟﻨﺼﻒ اﻟﺜﺎين ﻣﻦ ﻋﺎم ‪.2013‬‬ ‫ﰲ اﻷﺣﺪ ‪ 27‬أﺑﺮﻳﻞ‪ ،‬إرﺗﻔﻊ اﳌﺆﴍ اﻟﻌﺎم ﻟﺴﻮق ديب اﳌﺎﱄ إﱃ ‪5،116.49‬‬ ‫ﻧﻘﻄﺔ‪ ،‬ﻣﺴﺠﻼً ارﺗﻔﺎﻋﺎً ﺑﻨﺴﺒﺔ ‪ 0.6‬ﰲ اﳌﺎﺋﺔ‪ ،‬واﻟﺬي ﻛﺎن ميﺜﻞ اﻹرﺗﻔﺎع‬ ‫اﻟﺴﺎﺑﻊ ﻋﲆ اﻟﺘﻮاﱄ ﰲ ﻓﱰة مثﺎﻧﻴﺔ أﻳﺎم‪.‬‬ ‫ﴍﻛﺔ إﻋامر اﻟﻌﻘﺎرﻳﺔ‪ ،‬اﻟﺘﻲ متﺜﻞ أﺳﻬﻤﻬﺎ ﻏﺎﻟﺒﻴﺔ أﺳﻬﻢ اﳌﺆﴍ‪ ،‬ارﺗﻔﻊ‬ ‫ﺳﻬﻤﻬﺎ ﺑﻨﺴﺒﺔ ‪ 1.9‬ﰲ اﳌﺎﺋﺔ وإﻗﱰب ﻣﻦ ‪ 11‬درﻫﻢ‪ .‬ﺛﻘﺔ اﳌﺴﺘﺜﻤﺮﻳﻦ‬ ‫إرﺗﻔﻌﺖ ﻋﻨﺪﻣﺎ ﻗﺪم رﺋﻴﺲ اﻟﴩﻛﺔ‪ ،‬ﻣﺤﻤﺪ اﻟﻌﺒﺎر‪ ،‬ﺗﻮﻗﻌﺎت ﻣﺘﻔﺎﺋﻠﺔ‬ ‫ﺑﺸﺄن أرﺑﺎﺣﻬﺎ ﺛﻼﺛﺔ أﺿﻌﺎف ﺑﺤﻠﻮل ﻋﺎم ‪.2018‬‬ ‫وارﺗﻔﻊ ﺳﻬﻢ أراﺑﺘﻚ اﻟﻘﺎﺑﻀﺔ‪ ،‬أﻛﱪ ﴍﻛﺔ ﺑﻨﺎء ﻣﺪرﺟﺔ ﰲ اﻹﻣﺎرات‬ ‫اﻟﻌﺮﺑﻴﺔ اﳌﺘﺤﺪة‪ ،‬ﺑﻨﺴﺒﺔ ‪ 2.9‬ﰲ اﳌﺎﺋﺔ ﺑﻌﺪ ﺗﻜﻬﻨﺎت ﺣﻮل ﺗﺤﺎﻟﻒ‬ ‫اﻟﴩﻛﺔ اﳌﺤﺘﻤﻞ ﻣﻊ اﻟﺪار ﻟﻠﻌﻘﺎرات ﰲ أﺑﻮﻇﺒﻲ‪ .‬ﺳﻬﻢ أراﺑﺘﻚ إرﺗﻔﻊ‬ ‫ﻷﻛرث ﻣﻦ ﺛﻼﺛﺔ أﺿﻌﺎف ﺧﻼل اﻟﻌﺎم‪ .‬واﻧﺨﻔﻀﺖ أﺳﻌﺎر أﺳﻬﻢ ﴍﻛﺔ‬ ‫اﻟﺪار اﻟﻌﻘﺎرﻳﺔ‪ ،‬أﻛﱪ ﻣﻄﻮر ﰲ أﺑﻮﻇﺒﻲ‪ ،‬ﺑﻨﺴﺒﺔ ‪ 1.2‬ﰲ اﳌﺎﺋﺔ‪ .‬وأﻋﻠﻨﺖ‬ ‫اﻟﴩﻛﺔ ﻣﺆﺧﺮا ً ﻋﻦ ﺛﻼﺛﺔ ﻣﺸﺎرﻳﻊ ﺳﻜﻨﻴﺔ ﺑﻘﻴﻤﺔ إﺟامﻟﻴﺔ ‪ 5‬ﻣﻠﻴﺎرات‬ ‫درﻫﻢ‪ .‬ﰲ أﺑﻮ ﻇﺒﻲ‪ ،‬اﻧﺨﻔﺾ ﻣﺆﴍ ‪ ADX‬اﻟﻌﺎم ﺑﻨﺴﺒﺔ ‪ 0.4‬ﰲ اﳌﺎﺋﺔ‪.‬‬

‫إﻟﺘﻘﻰ وﻛﻴﻞ و زارة اﻟﻄﺎﻗﺔ ﺑﺪوﻟﺔ اﻹﻣﺎرات اﻟﻌﺮﺑﻴﺔ اﳌﺘﺤﺪة‪ ،‬ﻣﻄﺮ‬ ‫اﻟﻨﻴﺎدي‪ ،‬ﻣﻊ ﻧﺎﺋﺐ ﻣﺪﻳﺮ ﺻﻨﺪوق اﻟﻨﻘﺪ اﻟﺪوﱄ ﻟﻠﺪراﺳﺎت اﻹﻗﻠﻴﻤﻴﺔ ‪-‬‬ ‫ﺟﺰء ﻣﻦ ﻗﺴﻢ اﻟﴩق اﻷوﺳﻂ وآﺳﻴﺎ‪ .‬وﰲ اﻟﻠﻘﺎء ﺑﺤﺚ ﺳﻴﺎﺳﺔ دوﻟﺔ‬ ‫اﻹﻣﺎرات ﰲ ﺗﻨﻮﻳﻊ ﻣﺼﺎدر اﻟﻄﺎﻗﺔ‪ ،‬ﻓﻀﻼً ﻋﻦ اﻟﺠﻬﻮد واﳌﺒﺎدرات اﻟﺘﻲ‬ ‫اﺗﺨﺬﺗﻬﺎ اﻟﺪوﻟﺔ ﰲ ﻫﺬا اﳌﺠﺎل‪.‬‬ ‫ﻣﻦ ﺑني اﻟﻨﻘﺎط اﻟﺘﻲ ﻧﻮﻗﺸﺖ أن دوﻟﺔ اﻹﻣﺎرات اﻟﻌﺮﺑﻴﺔ اﳌﺘﺤﺪة ﺳﻮف‬ ‫ﺗﺰﻳﺪ إﻧﺘﺎج اﻟﻨﻔﻂ إﱃ ‪ 3.5‬ﻣﻠﻴﻮن ﺑﺮﻣﻴﻞ ﻣﻦ اﻟﻨﻔﻂ اﻟﺨﺎم ﺑﺤﻠﻮل ﻋﺎم‬ ‫‪ ،2017‬ﺟﻨﺒﺎً إﱃ ﺟﻨﺐ ﻣﻊ ﺧﻄﻂ زﻳﺎدة ﻃﺎﻗﺔ اﻟﺘﻜﺮﻳﺮ إﱃ ﺣﻮاﱄ‬ ‫‪ 920،000‬ﺑﺮﻣﻴﻞ ﺳﻨﻮﻳﺎً ﺑﺤﻠﻮل ﻧﻬﺎﻳﺔ ﻋﺎم ‪ .2014‬وﻧﺎﻗﺶ وﻛﻴﻞ اﻟﻮزارة‬ ‫أﻳﻀﺎً أﻫﻤﻴﺔ ﺧﻔﺾ اﺳﺘﻬﻼك اﻟﻄﺎﻗﺔ ﰲ اﻟﺒﻼد دون اﻟﺘﺄﺛري ﺳﻠﺒﺎً ﻋﲆ‬ ‫اﻟﻨﻤﻮ اﻻﻗﺘﺼﺎدي‪ ،‬إﱃ ﺟﺎﻧﺐ اﻟﺘﻄﺮق إﱃ ﺗﺮﺷﻴﺪ ﻛﻔﺎءة اﻟﻄﺎﻗﺔ‪،‬‬ ‫وﻣﺸﺎرﻳﻊ اﻟﻄﺎﻗﺔ اﳌﺘﺠﺪدة وﺗﺄﺛري ﻧﴩ ﺗﻄﺒﻴﻘﺎت اﻟﻄﺎﻗﺔ اﳌﺘﺠﺪدة ﰲ‬ ‫اﳌﻨﻄﻘﺔ‪.‬‬ ‫اﻟﺰﻳﺎرة اﻟﺘﻲ ﻗﺎم ﺑﻬﺎ وﻓﺪ ﺻﻨﺪوق اﻟﻨﻘﺪ اﻟﺪوﱄ إﱃ دوﻟﺔ اﻹﻣﺎرات‬ ‫اﻟﻌﺮﺑﻴﺔ اﳌﺘﺤﺪة ﻫﻲ ﺟﺰء ﻣﻦ ﻋﻤﻠﻴﺔ اﺳﱰاﺗﻴﺠﻴﺔ ﺗﺤﻀريﻳﺔ ﻣﻦ ﻗﺒﻞ‬ ‫اﳌﻨﻈﻤﺔ ﻹﻃﻼق ﺗﻘﺮﻳﺮ اﻗﺘﺼﺎدي‪ ،‬اﻟﺬي ﺳﻴﻀﻢ ﻓﺼﻼً ﻛﺎﻣﻼً ﻋﻦ دوﻟﺔ‬ ‫اﻹﻣﺎرات اﻟﻌﺮﺑﻴﺔ اﳌﺘﺤﺪة و ﺟﻬﻮدﻫﺎ ﰲ ﻗﻄﺎع اﻟﻄﺎﻗﺔ‪.‬‬

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‫ﻣﻊ ﻇﻬﻮر ﻋﻼﻣﺎت اﻹﻧﺘﻌﺎش ﻋﲆ أﺑﺮز اﻻﻗﺘﺼﺎدات اﻟﻌﺎﳌﻴﺔ ﻣﺜﻞ‬ ‫اﻟﻮﻻﻳﺎت اﳌﺘﺤﺪة‪ ،‬اﳌﻤﻠﻜﺔ اﳌﺘﺤﺪة‪ ،‬أﳌﺎﻧﻴﺎ واﻟﻴﺎﺑﺎن ﰲ ﻋﺎم ‪ ،2014‬ﻣﻦ‬ ‫اﳌﺮﺟﺢ أن ﻳﺴﺘﻔﻴﺪ اﻟﴩق اﻷوﺳﻂ‪ ،‬وﺧﺎﺻﺔ دول اﻟﺨﻠﻴﺞ‪ ،‬ﻣﻦ ﻫﺬا‬ ‫اﻟﻨﻤﻮ اﻹﻗﺘﺼﺎدي‪ .‬ﻣﺘﺤﺪﺛﺎً ﻋﲆ ﻫﺎﻣﺶ ﻣﻨﺘﺪى ‪ IHS‬ﰲ ديب‪ ،‬ﻗﺎل ﻛﺒري‬ ‫اﻻﻗﺘﺼﺎدﻳني ﻧﺎرميﺎن ﺑﻴﻬﺮاﻓﻴﺶ أن ﻫﻨﺎك ﻋﻼﻣﺎت اﻟﻨﻤﻮ اﻻﻗﺘﺼﺎدي ﰲ‬ ‫ﻣﻨﻄﻘﺔ اﻟﴩق اﻷوﺳﻂ ﻛﺎﻧﺖ ﻣﺪﻓﻮﻋﺔ ﰲ اﳌﻘﺎم اﻷول ﻣﻦ ﻗﺒﻞ دول‬ ‫اﻟﺨﻠﻴﺞ‪ .‬دوﻟﺔ اﻹﻣﺎرات اﻟﻌﺮﺑﻴﺔ اﳌﺘﺤﺪة واﳌﻤﻠﻜﺔ اﻟﻌﺮﺑﻴﺔ اﻟﺴﻌﻮدﻳﺔ‬ ‫ﻛﺎﻧﺖ ﺗﻨﻤﻮ مبﻌﺪل أﻛﱪ ﻣﻦ ‪ 4.5‬ﰲ اﳌﺎﺋﺔ‪ .‬ﺑﺎﻹﺿﺎﻓﺔ إﱃ ذﻟﻚ‪ ،‬ﻛﺎن‬ ‫اﻹﻧﻔﺎق اﻻﺳﺘﻬﻼيك ﰲ اﳌﻨﻄﻘﺔ ﰲ ارﺗﻔﺎع‪ .‬وﻛﺎن ﻣﻦ اﳌﺘﻮﻗﻊ أن ﻳﻜﻮن‬ ‫ﻣﻌﺪل اﻟﺒﻄﺎﻟﺔ اﻹﻗﻠﻴﻤﻴﺔ أﻗﻞ ﻣﻨﻪ ﰲ ﻓﺮﻧﺴﺎ‪ ،‬أﳌﺎﻧﻴﺎ و إﻳﻄﺎﻟﻴﺎ ﻋﲆ ﻣﺪى‬ ‫اﻟﺴﻨﻮات اﻟﺜﻼث اﳌﻘﺒﻠﺔ‪ ،‬و ﻛﺎن ﻣﻦ اﳌﺘﻮﻗﻊ أن ﺗﻜﻮن ﻣﻌﺪﻻت اﻟﻨﻤﻮ‬ ‫اﻟﺴﻨﻮي اﳌﺮﻛﺒﺔ أﻋﲆ ﻣﻦ اﳌﺘﻮﺳﻂ ﺣﺘﻰ ﻋﺎم ‪.2035‬‬ ‫ﺣﻴﺚ أﻧﻪ ﻣﻦ اﳌﺮﺟﺢ أن ﺗﻮاﺟﻪ اﻷﺳﻮاق اﻟﺮﺋﻴﺴﻴﺔ اﻟﻨﺎﺷﺌﺔ ﻣﺜﻞ‬ ‫اﻟﱪازﻳﻞ‪ ،‬روﺳﻴﺎ واﻟﺼني ﺗﺒﺎﻃﺆا ﰲ منﻮﻫﺎ اﻻﻗﺘﺼﺎدي‪ ،‬واﻟﴩﻛﺎت اﻟﻌﺎﳌﻴﺔ‬ ‫ﺗﺘﻄﻠﻊ إﱃ ﺗﻮﺳﻴﻊ ﻗﺪراﺗﻬﺎ اﻟﺨﺎرﺟﻴﺔ‪ ،‬ﻟﺬﻟﻚ أﺻﺒﺤﺖ ﺗﺘﻄﻠﻊ إﱃ اﻟﴩق‬ ‫‪www.valoran.ae‬‬

‫اﻷوﺳﻂ ﻛﻮﺟﻬﺔ ﻣﺤﺘﻤﻠﺔ‪ .‬وﺗﺸﻤﻞ اﻟﺼﻨﺎﻋﺎت اﻟﺘﻲ ﻣﻦ اﳌﺘﻮﻗﻊ أن ﻳﺘﻢ‬ ‫اﻻﺳﺘﺜامر ﻓﻴﻬﺎ ﰲ ﻫﺬه اﳌﻨﻄﻘﺔ‪ ،‬وﻓﻘﺎً ﻟﺘﻮﻗﻌﺎت ‪ ،IHS‬اﻟﺴﻴﺎرات‪،‬‬ ‫اﻟﻄﺎﻗﺔ‪ ،‬اﳌﻮاد اﻟﻜﻴﻤﻴﺎﺋﻴﺔ واﻟﻘﻄﺎﻋﺎت اﻟﺪﻓﺎﻋﻴﺔ‪ .‬وﻓﻘﺎً ﻟﺘﻘﺪﻳﺮات ‪،IHS‬‬ ‫ﺳﻮف ﻳﺪﺧﻞ ﺣﻮاﱄ ‪ 27‬ﻣﻠﻴﺎر دوﻻر ﰲ اﻻﻗﺘﺼﺎد اﻟﺨﻠﻴﺠﻲ ﻣﻦ ﺧﻼل‬ ‫ﺻﻔﻘﺎت اﻟﺪﻓﺎع واﻟﱪاﻣﺞ اﳌﺘﺤﺎﻟﻔﺔ ﻣﻌﻬﺎ‪ .‬وﻣﻦ اﳌﺘﻮﻗﻊ أن ﺗﻨﻤﻮ ﺳﻮق‬ ‫اﻟﺴﻴﺎرات ﰲ اﻟﴩق اﻷوﺳﻂ ﺑﻀﻌﻒ اﳌﻌﺪل اﳌﻮﺟﻮد ﰲ أوروﺑﺎ اﻟﻐﺮﺑﻴﺔ‬ ‫وأﻣﺮﻳﻜﺎ اﻟﺸامﻟﻴﺔ‪ ،‬ﺑني ﻋﺎﻣﻲ ‪ 2012‬و ‪.2022‬‬ ‫وﺗﺸري ﺗﻘﺪﻳﺮات‪ IHS‬أﻳﻀﺎً إﱃ أن ديب ﺳﻮف ﺗﺴﺘﺜﻤﺮ ﺣﻮاﱄ ‪ 8‬ﻣﻠﻴﺎر‬ ‫دوﻻر ﰲ اﻻﺳﺘﺜامر ﰲ اﻟﺒﻨﻴﺔ اﻟﺘﺤﺘﻴﺔ ﻟﻠﺸﺤﻦ ﻣﻊ دﺧﻮل ‪ 10‬ﻣﻠﻴﺎر دوﻻر‬ ‫إﺿﺎﻓﺔ إﱃ ذﻟﻚ ﻗﺎدﻣﺔ ﻣﻦ اﻟﻘﻄﺎع اﻟﺨﺎص ﻟﺠﻌﻞ دول ﻣﺠﻠﺲ اﻟﺘﻌﺎون‬ ‫اﻟﺨﻠﻴﺠﻲ راﺋﺪة ﰲ ﻣﺠﺎل اﻟﺸﺤﻦ اﻟﻌﺎﳌﻲ‪ .‬ﺑﻴﻨام ﺗﺴﺘﻌﺪ ﻻﺳﺘﻀﺎﻓﺔ‬ ‫ﻣﻌﺮض اﻛﺴﺒﻮ اﻟﻌﺎﳌﻰ ﰱ ﻋﺎم ‪ ،2020‬واﻟﺘﻲ ﺗﻌﺪ ﺣﺘﻰ اﻵن أﻛﱪ ﻧﺴﺨﺔ‬ ‫ﻟﻬﺬا اﳌﻌﺮض‪ ،‬ﺳﻮف ﺗﻀﻴﻒ ديب أﻳﻀﺎً ﻃﺮﻗﺎً ﺟﺪﻳﺪة‪ ،‬ﻣﻄﺎرا ً آﺧﺮا ً‪،‬‬ ‫ﻓﻨﺎدق‪ ،‬وﻣﴩوع اﻟﺴﻜﻚ اﻟﺤﺪﻳﺪﻳﺔ اﻟﺬي ﻳﺮﺑﻂ ﺷﺒﻪ اﻟﺠﺰﻳﺮة وﻣﺤﻄﺎت‬ ‫اﻟﻄﺎﻗﺔ وأﻣﺎﻛﻦ اﻟﺤﺪث‪.‬‬


‫‪Valoran Real Estate Brokers‬‬ ‫‪Your Lifestyle Broker‬‬

‫΃ دﻳﺎر ﺗﺘﻄﻠﻊ إﱃ ﺗﻜﺮار اﻟﻨﺠﺎح ﰲ ﻣﺒﻴﻌﺎت اﻟﺸﻘﻖ اﻟﻔﻨﺪﻗﻴﺔ‪ :‬ﺑﻌﺪ‬ ‫ﻋﻤﻠﻴﺎت اﻟﺒﻴﻊ اﻷﺧرية ﻟـ ‪ 219‬ﺷﻘﺔ ﰲ أﺗﺮﻳﺎ ﰲ ﻏﻀﻮن ﺳﺖ ﺳﺎﻋﺎت‪،‬‬ ‫ﺗﺘﻄﻠﻊ ﴍﻛﺔ دﻳﺎر ﻟﻠﺘﻄﻮﻳﺮ اﻟﻌﻘﺎري إﱃ اﻟﻈﻬﻮر ﻣﻦ ﺟﺪﻳﺪ ﻣﻊ ‪ 162‬ﻣﻦ‬ ‫اﻟﻮﺣﺪات اﻟﺴﻜﻨﻴﺔ اﻟﻔﻨﺪﻗﻴﺔ اﻟﺘﻲ ﺳﻴﺘﻢ ﻓﺘﺤﻬﺎ ﻟﻠﻤﺴﺘﺜﻤﺮﻳﻦ‪ .‬وﺗﺨﻄﻂ‬ ‫اﻟﴩﻛﺔ ﻟﻠﺤﻔﺎظ ﻋﲆ ‪ 163‬ﺷﻘﺔ ﳌﺤﻔﻈﺘﻬﺎ اﻟﺨﺎﺻﺔ‪.‬‬ ‫΃ اﳌﻨﻄﻘﺔ اﻟﺤﺮة مبﻄﺎر ديب ﻟﺠﺬب اﳌﺴﺘﺜﻤﺮﻳﻦ اﻟﺮوس‪ :‬اﳌﻨﻄﻘﺔ‬ ‫اﻟﺤﺮة مبﻄﺎر ديب )داﻓﺰا( ﺗﺨﻄﻂ ﻟﺠﺬب رﺟﺎل اﻷﻋامل واﳌﺴﺘﺜﻤﺮﻳﻦ‬ ‫اﻟﺮوس إﱃ دوﻟﺔ اﻹﻣﺎرات اﻟﻌﺮﺑﻴﺔ اﳌﺘﺤﺪة ﻣﻦ ﺧﻼل ﻧﺪوة ﻧﻈﻤﺖ ﰲ‬ ‫ﻣﻮﺳﻜﻮ ﻳﻮم ‪ 29‬أﺑﺮﻳﻞ‪ ،‬واﻟﺘﻲ ﺗﻬﺪف اﱃ زﻳﺎدة اﻟﻮﻋﻲ ﺑﻔﺮص اﻻﺳﺘﺜامر‬ ‫ﰲ دوﻟﺔ اﻹﻣﺎرات اﻟﻌﺮﺑﻴﺔ اﳌﺘﺤﺪة‪.‬‬ ‫΃ ‪ ͧx/ YM` aY ` le /.%y /˴L / + 6a!e 6z /‬ﻣﺘﺤﺪﺛﺎً ﰲ‬ ‫اﺟﺘامع اﻟﺠﻤﻌﻴﺔ اﻟﻌﻤﻮﻣﻴﺔ اﻟﺴﻨﻮي ﻟﻠﴩﻛﺔ ﰲ ديب‪ ،‬ذﻛﺮ رﺋﻴﺲ ﻣﺠﻠﺲ‬ ‫إدارة إﻋامر ﻟﻠﻤﻄﻮرﻳﻦ أن اﻟﺘﻘﻠﺐ اﻟﻌﻘﺎري ﻟﻪ دور ﰲ أزﻣﺔ ﺳﻮق‬ ‫اﻹﺳﻜﺎن ﻋﺎم ‪ 2008‬ﺑﺴﺒﺐ ﴍاء اﳌﻀﺎرﺑني ﻟﻠﻌﻘﺎرات اﻟﻐري ﻣﻜﺘﻤﻠﺔ‬ ‫وإﻋﺎدة ﺑﻴﻌﻬﺎ ﻷﻃﺮاف ﺛﺎﻟﺜﺔ ﺧﻼل وﻗﺖ ﻗﺼري‪ .‬ﻧﺼﺢ رﺋﻴﺲ ﻣﺠﻠﺲ‬ ‫اﻹدارة ﺑﻔﺮض ﻗﻴﻮد ﻋﲆ إﻋﺎدة ﺑﻴﻊ اﻟﻌﻘﺎرات اﻟﺠﺪﻳﺪة ﻟﻠﺤﺪ ﻣﻦ ﻣﺜﻞ‬ ‫ﻫﺬه اﳌﻀﺎرﺑﺎت‪.‬‬

‫وﻧﻈﺮا ً ﻟﻬﺬا اﻟﻮﺿﻊ‪ ،‬ﻓﺈن اﳌﻌﺮوض ﻣﻦ اﳌﺴﺎﺣﺎت اﳌﻜﺘﺒﻴﺔ ﻻ ﻟﻦ ﻳﺰﻳﺪ‬ ‫ﺑﺸﻜﻞ ﻛﺒري ﰲ اﻟﻌﺎﻣني اﳌﻘﺒﻠني‪ .‬ﺣﺘﻰ ذﻟﻚ اﻟﺤني‪ ،‬ﺳﺘﻈﻞ اﻟﺴﻮق‬ ‫ﻟﻠﻤﺴﺘﺄﺟﺮﻳﻦ‪.‬‬

‫] ‪Sale Price [ USD/SQF‬‬

‫] ‪Rental Price [ USD/SQF‬‬ ‫‪4‬‬ ‫‪3‬‬

‫‪Mar 2014: Abu Dhabi‬‬ ‫‪- USD 2.22/SQF‬‬

‫‪750‬‬ ‫‪500‬‬

‫‪Mar 2014: Abu Dhabi‬‬ ‫‪- USD 382/SQF‬‬

‫‪2‬‬ ‫‪Mar 2014: Dubai‬‬ ‫‪- USD 2.20/SQF‬‬

‫‪2014‬‬ ‫‪reidin.com‬‬

‫‪2010‬‬ ‫‪Abu Dhabi‬‬

‫‪2005‬‬ ‫‪Dubai‬‬

‫‪1‬‬

‫‪250‬‬ ‫‪Mar 2014: Dubai‬‬ ‫‪- USD 378/SQF‬‬

‫‪2010‬‬ ‫‪reiding.com‬‬

‫‪Abu Dhabi‬‬

‫‪2005‬‬

‫‪0‬‬

‫‪Dubai‬‬

‫‪5‬‬


‫‪- 17‬‬

‫‪2014‬‬

‫ﻣﻘﻴﺎس اﻹﻳﺠﺎرات ﻣﺎزال ﻳﻌﻤﻞ ﰲ ﺗﻘﺪم‪ ،‬وﺳﻮف ﻳﻠﺰﻣﻪ ﻓﱰة ﻣﻦ‬ ‫اﻟﻮﻗﺖ ﻗﺒﻞ ﺗﺤﻘﻴﻖ ﺣﺎﻟﺔ ﻣﻦ اﻹﺳﺘﻘﺮار ﺣﻴﺚ ﻟﻦ ﻳﻜﻮن ﺑﺈﻣﻜﺎن اﳌﻼك‬ ‫اﳌﻄﺎﻟﺒﺔ ﺑﺄﺳﻌﺎر أﻋﲆ ﻣﻦ ﻗﻴﻤﺔ اﳌﺆﴍ‪ .‬ﺣﺘﻰ ذﻟﻚ اﻟﺤني‪ ،‬ﺳﻮف ﻳﻀﻄﺮ‬ ‫اﳌﺴﺘﺄﺟﺮون ﰲ ديب وأﺑﻮﻇﺒﻲ إﱃ اﻻﻧﺘﻈﺎر ﺑﺼﱪ إميﺎﻧﺎً ﻣﻨﻬﻢ ﺑﺄﻧﻪ ﻣﻊ‬ ‫ﻣﺮور اﻟﻮﻗﺖ ﺳﻮف ﻳﺤﻘﻖ اﻻﺳﺘﻘﺮار و اﻟﺸﻔﺎﻓﻴﺔ ﰲ اﻟﺴﻮق‪.‬‬

‫ﺗﺸري اﻹﺣﺼﺎءات اﻟﺠﺪﻳﺪة أن أﺑﺮاج ﺑﺤرية اﻟﺠﻤريا أﺻﺒﺤﺖ إﺣﺪى‬ ‫ﻣﻨﺎﻃﻖ ديب اﻷﻛرث ﺟﺎذﺑﻴﺔ ﻟﻠﻌﻴﺶ ﻓﻴﻬﺎ‪ .‬ﺣﻴﺚ إرﺗﻔﻌﺖ اﻟﻘﻴﻤﺔ‬ ‫اﻹﻳﺠﺎرﻳﺔ ﻟﺸﻘﺔ ﻣﻦ ﻏﺮﻓﺔ ﻧﻮم واﺣﺪة ﻓﻴﻬﺎ ﺑﻨﺴﺒﺔ ‪ 29‬ﰲ اﳌﺎﺋﺔ ﰲ اﻟﺮﺑﻊ‬ ‫اﻷول ﻣﻦ ﻋﺎم ‪ 2014‬ﻣﻘﺎرﻧﺔ ﺑﺎﻟﻔﱰة ﻧﻔﺴﻬﺎ ﻣﻦ اﻟﻌﺎم اﳌﺎﴈ‪ .‬وارﺗﻔﻌﺖ‬ ‫أﺳﻌﺎر ﺑﻴﻊ اﻟﺸﻘﻖ اﳌﻜﻮﻧﺔ ﻣﻦ ﻏﺮﻓﺔ ﻧﻮم واﺣﺪة ﺑﻨﺴﺒﺔ ‪ 47‬ﰲ اﳌﺎﺋﺔ‪.‬‬ ‫ﰲ اﳌﺎﴈ‪ ،‬واﺟﻬﺖ أﺑﺮاج ﺑﺤرية اﻟﺠﻤريا اﻟﻌﺪﻳﺪ ﻣﻦ اﳌﺸﻜﻼت‪ ،‬ﺧﺎﺻﺔ‬ ‫اﳌﺘﻌﻠﻘﺔ ﺑﺎﺧﺘﻨﺎﻗﺎت ﰲ اﻟﻮﺻﻮل ﻣﻦ وإﱃ اﳌﺠﻤﻊ اﻟﺴﻜﻨﻲ‪ .‬ﻣﻊ إﻧﺘﻬﺎء‬ ‫اﻟﻌﻤﻞ اﻵن‪ ،‬مل ﻳﻌﺪ اﻟﻮﺻﻮل إﱃ اﳌﺠﻤﻊ وﺣﺮﻛﺔ اﳌﺮور متﺜﻞ أي ﻣﺸﻜﻠﺔ‪.‬‬ ‫ﺑﺎﻹﺿﺎﻓﺔ إﱃ ذﻟﻚ‪ ،‬ﺗﻢ ﺗﺤﺴني اﻟﺒﻨﻴﺔ اﻟﺘﺤﺘﻴﺔ واﳌﺮاﻓﻖ ﰲ اﳌﺠﻤﻊ‪ .‬وﻗﺪ‬ ‫ﻓﺘﺤﺖ اﻟﻌﺪﻳﺪ ﻣﻦ اﳌﻄﺎﻋﻢ واﳌﻘﺎﻫﻲ ﻟﻠﺠﻤﻬﻮر‪ ،‬واﻣﺘﻸت واﺣﺪة ﻣﻦ‬ ‫اﻟﺒﺤريات اﻟﺜﻼث اﳌﻮﺟﻮدة ﰲ اﳌﺠﻤﻊ وﺗﻢ ﺗﺤﻮﻳﻠﻬﺎ إﱃ ﺣﺪﻳﻘﺔ ﻛﺒرية‬ ‫ﻋﲆ ﻣﺴﺎﺣﺔ ‪ 55،000‬ﻣﱰ ﻣﺮﺑﻊ‪.‬‬ ‫وﻓﻘﺎً ﻟﻼﺣﺼﺎءات اﳌﺘﺎﺣﺔ ﻣﻦ ﻣﻮﻗﻊ دوﺑﻴﺰل‪ ،‬ﰲ اﻟﺮﺑﻊ اﻷول ﻣﻦ ﻋﺎم‬ ‫‪ ،2014‬ارﺗﻔﻌﺖ أﺳﻌﺎر ﺑﻴﻊ اﻟﻮﺣﺪات اﳌﻜﻮﻧﺔ ﻣﻦ ﻏﺮﻓﺔ ﻧﻮم واﺣﺪة ﰲ‬ ‫أﺑﺮاج ﺑﺤرية اﻟﺠﻤريا إﱃ ‪ 1.25‬ﻣﻠﻴﻮن درﻫﻢ ﻣﻦ ‪ 850,000‬درﻫﻢ ﺧﻼل‬

‫اﻟﺮﺑﻊ اﻷول ﻣﻦ اﻟﻌﺎم اﳌﺎﴈ‪ .‬وإرﺗﻔﻌﺖ إﻳﺠﺎرات اﻟﺸﻘﻖ اﳌﻜﻮﻧﺔ ﻣﻦ‬ ‫ﻏﺮﻓﺔ ﻧﻮم واﺣﺪة ﻣﻦ ‪ 70،000‬درﻫﻢ إﱃ ‪ 90،000‬درﻫﻢ ﺧﻼل ﻧﻔﺲ‬ ‫اﻟﻔﱰة‪.‬‬

‫ﺳﻮق اﻟﻌﻘﺎرات اﳌﻜﺘﺒﻴﺔ ﰲ أﺑﻮﻇﺒﻲ ﻟﺪﻳﻪ إﻣﺪادات ﻣﺴﺘﻘﺒﻠﻴﺔ ﻛﺒرية ﰲ‬ ‫اﳌﺪى اﳌﺘﻮﺳﻂ‪ .‬وﻧﺘﻴﺠﺔ ﻟﺬﻟﻚ‪ ،‬ﻣﻦ اﳌﺮﺟﺢ أن ﺗﺼﺒﺢ اﻟﻔﺌﺔ اﻟﻮﺣﻴﺪة ﰲ‬ ‫اﻟﻘﻄﺎع اﻟﻌﻘﺎري ﰲ اﻹﻣﺎرات اﻟﺘﻲ ﺳﻮف ﺗﻜﻮن ﺳﻮق ﻣﺴﺘﺄﺟﺮﻳﻦ‪.‬‬ ‫وﻣﻮاﻗﻊ اﳌﻜﺎﺗﺐ اﻟﺘﻲ ميﻜﻦ أن ﺗﻮﻓﺮ ﻣﺴﺎﺣﺔ واﻓﺮة ﻟﻮﻗﻮف ﺳﻴﺎرات‬ ‫اﳌﺴﺘﺄﺟﺮﻳﻦ ﺳﻮف ﺗﻜﻮن ﻣﻮاﻗﻊ ﺟﺬب ﻣﺘﻤﻴﺰة‪ .‬وﺑﺎﳌﺜﻞ‪ ،‬ﻓﺈن اﳌﻨﺎﻃﻖ‬ ‫اﻟﺘﻲ ﺗﺘﻤﺘﻊ ﺑﻮﺳﺎﺋﻞ اﻟﻨﻘﻞ اﻟﺠﻴﺪة أﻳﻀﺎ ﺳﻮف ﺗﺮى زﻳﺎدة ﰲ اﻟﻨﺸﺎط‪.‬‬ ‫اﻷﺳﻮاق اﻟﻔﺮﻋﻴﺔ ﻣﺜﻞ ﺣﺪﻳﻘﺔ ﺧﻠﻴﻔﺔ وﻛﺎﺑﻴﺘﺎل ﺳﻨﱰ ﻇﻬﺮت ﺑﺎﻟﻔﻌﻞ‬ ‫ﻛﻨﻘﺎط ﺳﺎﺧﻨﺔ ﻟﻠﻨﺸﺎط اﳌﻜﺘﺒﻲ ﻟﻬﺬا اﻟﺴﺒﺐ‪ ،‬وﻓﻘﺎً ﻟﺘﻘﺮﻳﺮ ﺻﺎدر ﻋﻦ‬ ‫ﻛﻼﺗﻮﻧﺰ‪.‬‬ ‫ﰲ اﻷﺷﻬﺮ اﻷﺧرية‪ ،‬اﻟﻌﺪﻳﺪ ﻣﻦ اﳌﻼك‪ ،‬ﻻ ﺳﻴام اﳌﻼك ﻣﻦ اﳌﺤﱰﻓني‬ ‫واﳌﺆﺳﺴﺎت اﻟﺬﻳﻦ ﻳﺸﻌﺮون ﺑﺎﻟﻘﻠﻖ ﻣﻦ ﻇﺮوف اﻟﺴﻮق‪ ،‬أﻇﻬﺮ ﻗﺪرا ً‬ ‫ﻛﺒريا ً ﻣﻦ اﳌﺮوﻧﺔ ﰲ ﴍوط ﻋﻘﺪ اﻹﻳﺠﺎر ﺑﻘﺼﺪ إﻋﻄﺎء اﳌﺰﻳﺪ ﻣﻦ‬ ‫اﻷﻫﻤﻴﺔ ﻟﻺﺷﻐﺎل ﺑﺪﻻً ﻣﻦ إﻳﺮادات اﻹﻳﺠﺎر‪ .‬اﳌﻼك اﻟﺬﻳﻦ ﻳﺘﺠﺎﻫﻠﻮن‬ ‫واﻗﻊ اﻟﺴﻮق ﺳﻮف ﻳﺸﻬﺪون زﻳﺎدة ﻓﱰات اﻟﺸﻐﻮر ﺣﻴﺚ ميﻜﻦ‬ ‫ﻟﻠﺸﺎﻏﻠني اﻟﻌﺜﻮر ﻋﲆ ﺻﻔﻘﺎت أﻓﻀﻞ‪.‬‬ ‫اﻟﺴﻴﻨﺎرﻳﻮ اﻟﺤﺎﱄ ﰲ ﺳﻮق اﻟﻌﻘﺎرات اﳌﻜﺘﺒﻴﺔ ﰲ أﺑﻮﻇﺒﻲ ﻳﺸﺒﻪ اﻟﻮﺿﻊ‬ ‫اﻟﺬي ﺷﻬﺪﺗﻪ ديب ﻗﺒﻞ اﻟﻔﻮز ﺑﺎﺳﺘﻀﺎﻓﺔ ﻣﻌﺮض اﻛﺴﺒﻮ ‪ .2020‬ﻣﻦ‬ ‫ﺳﻮق ﻟﻠﻤﺴﺘﺄﺟﺮﻳﻦ ﻛام ﻛﺎن ﰲ وﻗﺖ ﺳﺎﺑﻖ‪ ،‬ﻋﻘﺐ إﻋﻼن ﻧﻮﻓﻤﱪ‪،‬‬ ‫ﻛﺎﻧﺖ ﻫﻨﺎك زﻳﺎدة ﰲ اﻟﻄﻠﺐ ﻋﲆ اﳌﺴﺎﺣﺎت اﳌﻜﺘﺒﻴﺔ ﰲ ديب‪ ،‬وﺧﺎﺻﺔ‬ ‫اﳌﺴﺎﺣﺎت اﻟﻜﺒرية‪.‬‬ ‫ﻋﲆ اﻟﺮﻏﻢ ﻣﻦ ﻫﺬا‪ ،‬ﻳﺘﺒﻊ اﳌﻄﻮرون ﻧﻬﺠﺎً ﺣﺬرا ً ﺣﻴﺚ أن ﻣﺸﺎرﻳﻊ‬ ‫اﻟﻌﻘﺎرات اﳌﻜﺘﺒﻴﺔ اﻟﺘﻲ ﺑﺪأت اﻵن ميﻜﻦ أن ﺗﻨﺘﻈﺮ ﻟﻔﱰات أﻃﻮل‬ ‫ﻟﺘﻮﻟﻴﺪ اﻟﻌﺎﺋﺪ ﻧﺘﻴﺠﺔ ﺣﺎﻟﺔ ﻋﺪم اﻟﻴﻘني ﺑﺸﺄن اﻟﻄﻠﺐ ﰲ اﳌﺴﺘﻘﺒﻞ‪ .‬ﺑﺪﻻً‬ ‫ﻣﻦ ذﻟﻚ‪ ،‬ﻳﺮى اﳌﻄﻮرون أﻧﻪ ﻣﻦ اﻷﻓﻀﻞ إﻧﺸﺎء ﺷﻘﻖ ﻓﻨﺪﻗﻴﺔ‪ ،‬واﻟﺘﻲ‬ ‫ﺳﻮف ﺗﺒﺪأ ﰲ ﺗﺤﻘﻴﻖ ﻋﺎﺋﺪات ﻓﻮرﻳﺔ ﺗﻘﺮﻳﺒﺎً‪.‬‬

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‫ﻣﺴﺘﺄﺟﺮوا أﺑﻮﻇﺒﻲ ﻳﻜﺎﻓﺤﻮن ﻣﻊ إرﺗﻔﺎع اﻹﻳﺠﺎرات ﻣﻨﺬ أن ﺗﻢ إﻟﻐﺎء‬ ‫ﺳﻘﻒ اﻹﻳﺠﺎر ﰲ ﻧﻮﻓﻤﱪ اﳌﺎﴈ‪ .‬وﻧﺘﻴﺠﺔ ﻹﻟﻐﺎء ﺳﻘﻒ اﻹﻳﺠﺎر‪ ،‬زادت‬ ‫ﻣﻄﺎﻟﺐ ﺗﺄﺟري اﳌﺠﻤﻌﺎت اﻟﺴﻜﻨﻴﺔ اﻟﺮﺋﻴﺴﻴﺔ ﰲ اﻹﻣﺎرة‪ ،‬وﻣﻦ اﳌﺘﻮﻗﻊ‬ ‫أن ﻳﺴﺘﻤﺮ ﻫﺬا اﻹﺗﺠﺎه ﺣﺘﻰ اﻟﺼﻴﻒ‪ .‬ﰲ ﺣني أن ﻣﺆﴍ اﻻﻳﺠﺎرات‬ ‫اﳌﻘﱰح ﻗﺪ ﻳﻀﻊ ﺣﺪا ً ﻻرﺗﻔﺎع اﻹﻳﺠﺎرات اﳌﺘﺰاﻳﺪ‪ ،‬ومل ﻳﺘﻢ ﺗﺤﺪﻳﺪ ﻣﻮﻋﺪ‬ ‫رﺳﻤﻲ ﻹﻃﻼﻗﻪ‪ ،‬ﻋﲆ اﻟﺮﻏﻢ ﻣﻦ أن اﻟﺴﻜﺎن وﻣﺼﺎدر ﰲ ﺻﻨﺎﻋﺔ‬ ‫اﻟﻌﻘﺎرات ﻳﺘﻮﻗﻌﻮن إﻧﻄﻼﻗﻪ ﺧﻼل ﻫﺬا اﻟﻌﺎم‪.‬‬ ‫ﻟﻦ ﻳﻌﻮد ﻣﺆﴍ اﻹﻳﺠﺎر ﺑﺎﻟﻔﺎﺋﺪة ﻓﻘﻂ ﻋﲆ اﳌﺴﺘﺄﺟﺮﻳﻦ ﰲ إﻣﺎرة‬ ‫أﺑﻮﻇﺒﻲ اﻟﺬﻳﻦ ﺳﻴﺴﺘﻔﻴﺪون ﻣﻦ إﻳﺠﺎرات أﻓﻀﻞ ﺗﻨﻈﻴام‪ ،‬وﻟﻜﻦ ﺳﻮف‬ ‫ﻳﺴﺎﻋﺪ أﻳﻀﺎ اﻹﻣﺎرة ﰲ اﻟﺘﺤﺮك ﻧﺤﻮ اﻟﺘﺤﻮل إﱃ ﺳﻮق ﻋﻘﺎرات ﺳﻜﻨﻴﺔ‬ ‫أﻛرث ﻧﻀﺠﺎً‪ .‬ﺑﺎﻹﺿﺎﻓﺔ إﱃ ذﻟﻚ‪ ،‬ﻓﺈﻧﻪ ﺳﻴﻜﻮن مبﺜﺎﺑﺔ ﻣﺆﴍ ميﻜﻦ‬ ‫ﻟﻠﻤﺴﺘﺄﺟﺮﻳﻦ و اﳌﻼك اﻟﺮﺟﻮع إﻟﻴﻪ ﻟﺘﺤﺴني درﺟﺔ اﻟﺸﻔﺎﻓﻴﺔ ﰲ ﺗﺤﺪﻳﺪ‬ ‫اﻹﻳﺠﺎرات‪.‬‬ ‫ﺣﺘﻰ ﻳﺘﻢ إﻃﻼق ﻣﺆﴍ اﻻﻳﺠﺎرات‪ ،‬ﻳﺒﺬل ﻣﻼك أﺑﻮﻇﺒﻲ ﺟﻬﻮدا ً ﻣﺘﻮاﺻﻠﺔ‬

‫ﻟﺮﻓﻊ اﻻﻳﺠﺎرات ﻟﺘﺼﻞ إﱃ اﻟﻘﻴﻤﺔ اﻟﺴﻮﻗﻴﺔ اﳌﺘﺼﻮرة‪ ،‬ﻷﻧﻬﻢ ﻻ ﻳﺮﻋﺒﻮن‬ ‫ﰲ ﺗﺄﺟري اﻟﻌﻘﺎرات ﺑﺄﺳﻌﺎر أﻗﻞ ﻣﻦ ﻣﺘﻮﺳﻂ اﻟﺴﻮق ﰲ ﺣﻲ ﻣﻌني‪.‬‬ ‫وﻳﻌﺪ ﻫﺬا اﻻﺗﺠﺎه أﻛرث وﺿﻮﺣﺎ ﺑني اﳌﻼك اﻟﺬﻳﻦ ميﺘﻠﻜﻮن اﻟﻌﻘﺎرات ﰲ‬ ‫اﳌﻮاﻗﻊ اﻟﺮﺋﻴﺴﻴﺔ ﰲ اﳌﺪﻳﻨﺔ‪ ،‬أو ﻫﺆﻻء اﻟﺬﻳﻦ ميﻠﻜﻮن أﺳﻬامً ﻗﺪميﺔ ﻣﻦ‬ ‫اﻟﻮﺣﺪات اﻟﺴﻜﻨﻴﺔ‪.‬‬ ‫ﰲ ديب أﻳﻀﺎً‪ ،‬ﺗﺒﺬل اﻟﺠﻬﻮد ﻟﻠﺴﻴﻄﺮة ﻋﲆ ارﺗﻔﺎع اﻹﻳﺠﺎرات‪ .‬ﺣﻴﺚ‬ ‫ﺣﺪد اﳌﺮﺳﻮم اﻟﺬي ﺗﻢ إﻋﻼﻧﻪ ﻣﺆﺧﺮا ً ﻧﺴﺐ اﳌﻌﺪﻻت اﻟﺘﻲ ميﻜﻦ‬ ‫ﻟﻠﻤﻼك زﻳﺎدة اﻹﻳﺠﺎرات ﰲ ﺣﺪودﻫﺎ‪ .‬وﺳﻴﺘﻢ رﺑﻂ ﻫﺬا مبﻘﻴﺎس‬ ‫اﻹﻳﺠﺎرات اﻟﺬي ﺗﺪﻳﺮه داﺋﺮة اﻷراﴈ واﻷﻣﻼك ﰲ ديب‪ .‬ﻣﻊ اﻹﻋﻼن ﻋﻦ‬ ‫اﳌﺮﺳﻮم‪ ،‬أﺻﺒﺢ ﺳﻘﻒ اﻹﻳﺠﺎرات اﳌﻮﺟﻮدة ﰲ ديب ﺑﺎﻃﻼً‪ .‬ﺑﻌﺪ ﻫﺬا‪،‬‬ ‫وﺗﺸري ردود ﻓﻌﻞ اﻟﺴﻮق إﱃ اﻟﻌﺪﻳﺪ ﻣﻦ اﻻﻧﺘﻬﺎﻛﺎت ﳌﻘﻴﺎس اﻹﻳﺠﺎرات‬ ‫ﺣﻴﺚ ﻳﺤﺎول اﳌﻼك اﻟﺤﺼﻮل ﻋﲆ أﻋﲆ إﻳﺠﺎرات ﻣﻤﻜﻨﺔ‪ ،‬واﻟﺘﻲ ﻫﻲ‬ ‫أﻋﲆ ﻣﻦ ﻣﺘﻮﺳﻂ اﳌﺆﴍ‪ ،‬وﻟﻴﺲ ﻟﺪﻳﻬﻢ اي ﺗﺮدد ﰲ ﻣﻄﺎﻟﺒﺔ اﳌﺴﺘﺄﺟﺮﻳﻦ‬ ‫ﺑﺈﺧﻼء اﻟﻌﻘﺎرات ﰲ ﺣﺎل ﻋﺪم إﻣﺘﺜﺎﻟﻬﻢ ﻟﺮﻓﻊ ﻗﻴﻤﺔ اﻹﻳﺠﺎرات‪.‬‬

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HAPPY NEW YEAR 2014 Valoran Real Estate Brokers


2014

- 17

2014

: -

Prepared by: Alpha & Beta FZE

VALORAN MEMBER

www.valoran.ae

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