UAE Visa Rules and Procedures: Failure to register rent contract with Ejari resul...

Failure to register rent contract with Ejari resul...:

Registration of rental contracts with the Dubai Land Department (DLD) will soon become a pre-requisite to accessing other government services, according to a top property regulator.

The Land Department and its regulatory body — the Real Estate Regulatory Agency (Rera) — has been trying to implement the system through a registration portal — Ejari.com.

The move will help the government to monitor the property market and offer better insights through its rental index while ensuring all tenants pay their housing fees regularly. Currently, these contracts are processed by the landlords. The rental data fed into the system is used to calculate the housing fees that are included on utility bills.

Registration of residential and commercial lease contracts through Ejari is mandatory and failure to comply may lead to a penalty, Gulf News has learnt. A Dh160 fee is chargeable to register a lease agreement with Ejari. The fee is payable by either party to the agreement.

The Ejari registration will be mandatory to obtain utility services. If the contract is not registered, transactions could be delayed at several government departments, principally the Dubai Economic Department and the Residence and Foreign Affairs Department.

Dubai Pearl construction under progress

Dubai is the best place to live. The soaring number of immigrants every year is the proof for it. It is a hub of most modern lifestyle and accommodation. Dubai real estate prospers, even though there was a surge in the property market during the past two years due to recession.The tax free status of Dubai is a big attraction, which will get bigger when other countries are levying more taxes on high income people. Then you will find world class living facilities that are envy to many. Which destination in the world has so much more to offer in such bulks? It is not easy to scrap Dubai’s potential for a recession that is world spread. We should also look at the fact that in spite of Dubai’s internal problems and liquidity crunch it has been one of the least affected countries from recession.one of the best example is Dubai Pearl.Dubai Pearl is a world class, mixed-use, 20 million sq ft integrated development being implemented by Pearl Dubai FZ LLC. Overlooking the Palm Jumeirah Island in the heart of the Dubai Technology and Media Free Zone, the development sets a new benchmark for sustainable urban communities in Dubai. Dubai Pearl’s prime location will offer an unparalleled combination of free-hold in the convenience of a free zone with luxury, energy efficient sustainability and state-of-the-art technology.

The development will ultimately provide a home for 9,000 people and a workplace for 12,000. Dubai Pearl is expected to be completed in 2013,It is envisaged as a world class, mixed-use, 20 million square foot integrated development under the ownership and management of Pearl Dubai FZ LLC, a consortium of investors led by the UAE’s Al Fahim Group. The group’s portfolio also includes oil field support, automotive and industrial development, hospitality, travel and tourism, and it is already recognised as one of the leading real estate developers in the region.

Pearl Dubai headed by leading UAE businessman Abdul Majeed Ismail Al Fahim, who is chairman. Prior to Pearl Dubai, Al Fahim was executive director of the Private Office for a member of the Abu Dhabi ruling family. He has also held key positions at a number of leading financial institutions in the Middle East including the National Bank of Abu Dhabi, the Islamic Financial Consultancy (Bahrain) and the Abu Dhabi Investment Company.

Pearl Dubai’s president and CEO is Santhosh Joseph, a highly experienced investor who has worked for many years in the real estate sector. Joseph sees the development as a ground-breaking project that will set a new international benchmark, bringing together luxury, sustainability and state-of-the-art technology in a way that has never been attempted before in the region.

He points out that the retail component of the development will be unique in offering a cluster of so many leading global brands in a single location. Baccarat, Bellagio, MGM and Quintessentially are among the array of glittering brands that have already pledged a presence within the 1.8 million square foot mixed-used destination.When completed, the development will set a new quality standard for sustainable urban living in Dubai—a 24 hour community where people can work, visit, live and play in style.

“We have set out to create a unique destination and community. We conceived and planned Dubai Pearl as an international quality landmark that will reinforce Dubai as a global city of excellence. Arguably the best location in Dubai deserves nothing less,” Joseph stated at a recent press conference.

Schweger Associated Architects of Germany are the lead architects and master planners of Dubai Pearl. Their design has focused on column-free living and working space that will allow flexibility of use and capture unobstructed views of the beautiful surroundings. The column-free design of the development is a pioneering approach that will create 20 per cent more usable space than is the norm within the region. At street level, the development will give the impression of a low rise city centre that will interact harmoniously with the symbolic tower and landscape to give a very special aesthetic character and sense of place to the development.

Impressively, the development has already achieved LEED Gold pre-certification status. LEED is an internationally recognised green building certification system developed by the US Green Building Council, which provides a comprehensive framework for identifying and implementing practical and measurable green building design, construction, operations and maintenance solutions.

TECOM Investments and State Government of Kerala Sign Lease Agreement for SmartCity Kochi

• Clustered Tech Project to Take Shape with Initial Investment of US$350 million

• Set to Generate Large-Scale Employment Opportunities in IT and Allied Sectors

Abdullatif AlMulla, Group CEO of TECOM Investments and Vice-Chairman of SmartCity Kochi, and K. Suresh Kumar (IAS), IT Secretary, Government of Kerala, shaking hands after signing the SmartCity lease agreement at Kochi. Also in the picture, S. Sharma, Minister of State Registration and Fisheries and Chairman of SmartCity Kochi, M.A. Yusuff Ali, Managing Director of EMKE Group, and P.I. Sheik Pareeth, District Collector of Ernakulam.

Dubai-UAE: 5 March, 2011 – A lease agreement that will flag off the development of SmartCity Kochi, an IT infrastructure project jointly promoted by TECOM Investments and the State Government of Kerala in India, has been signed between Abdullatif AlMulla, TECOM Group CEO who is also the Vice-Chairman of SmartCity Kochi, and Suresh Kumar, IT Secretary of the Kerala Government.

The lease agreement for 246 acres of land will set the momentum for the development of a self-sustained knowledge-based industry township in Kochi. It will also bring TECOM Investments a step closer to its international expansion strategy of creating successful prototypes of Dubai Internet City and Dubai Media City at various locations worldwide.

The lease agreement was duly registered the same day for the clustered tech project, which will take shape with an initial investment of US$350 million and generate large-scale employment opportunities in the IT and allied sectors.

The signing ceremony was held during the Board of Directors’ meeting at Infopark. S. Sharma, Minister of Registration and Fisheries and Chairman of SmartCity Kochi, was present during the occasion.

On behalf of TECOM Investments, M.A. Yusuff Ali, Managing Director of EMKE Group, and Anirudha Damkey, Executive Director-Corporate Finance, signed as witnesses, while K. Kurian, Senior Technical Advisor of Infopark, Kochi, and Binu Pazhoor, Chief Executive Officer of Infopark, signed as witnesses on behalf of the State Government of Kerala.

AlMulla said: “This key step reflects our confidence in the vision for SmartCity Kochi and our commitment to the people of Kerala. We are optimistic about completing this project as planned and fulfill all the time-bound contractual obligations mentioned in the framework agreement.

“The progress that will result from the signing of a fresh lease agreement will give further momentum to our plans of continuing the expansion of the SmartCity global network. Reflecting the success story of our knowledge clusters, we aim to utilize the SmartCity project to further strengthen the economies of the communities we are located in.”

Construction on SmartCity Kochi is expected to begin soon after the Special Economic Zone notification is received for 131 acres, which has already been cleared by the Board of Approval of India’s Union Commerce Ministry.

SmartCity Kochi will be one of India’s largest business parks and include a state-of-the-art business community infrastructure and a dynamic range of retail, hospitality, residential and recreational facilities to drive productive business as well as a quality lifestyle. Apart from drawing strong foreign direct investment (FDI) inflows, the project’s multiplier effects are expected to bring several additional benefits to the economy.

The first European outpost of the global SmartCity network, SmartCity Malta is set to become the leading ICT and media destination in the Mediterranean. SmartCity Malta received the ‘Best Investment Award in Europe’ award in 2009, recognising the project as the largest foreign direct investment in a European country. SmartCity’s self-sustained townships will seek to harness commerce by providing an environment conducive to business, intelligent infrastructure and advanced support systems. SmartCity entities worldwide will be home to vibrant knowledge economies that are anchored by international, regional and local companies.

Infinity Tower - Fully air Conditioned Signature Tower of DLF - Booking started

“Signature Tower” at New Town Heights, DLF Kakkanad - a residential estate, has the enchanting scenic beauty of a mountain valley, with its gently sloping hills and lush green surroundings. Yet, “Signature Tower” DLF Kakkanad has excellent access to the rest of Kochi, being on the Seaport-Airport Road, just 750 mts from the Collectorate and within 200 mts of the Kochi Special Economic Zone (CSEZ), Muthoot Technopolis, the Info Park, the KINFRA Park, the Bio Tech Park and the fast developing Smart City.

UAE Booking

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Infinity Tower -Fully air Conditioned Signature Tower of DLF at New Town Height Kakkanad Kochi Launched

Infinity Tower , New Town Heights, a Signature tower of DLF at Kakkanad  residential estate, has the enchanting scenic beauty of a mountain valley, with its gently sloping hills and lush green surroundings. Yet, “InfinityTower” DLF Kakkanad has excellent access to the rest of Kochi, being on the Seaport-Airport Road, just 750 mts from the Collectorate and within 200 mts of the Kochi Special Economic Zone (CSEZ), Muthoot Technopolis, the Info Park, the KINFRA Park, the Bio Tech Park and the fast developing Smart City.

Kakkanad – one the fastest developing residential and commercial destinations and Kochi’s future Central Business District! This picturesque hilly region has become the preferred work and residential address for several corporate houses including MNCs. Completion of the Seaport – Airport Road and proximity to National Highway 47 together has given an impetus to the growth and development of Kakkanad

For Booking in UAE Contact

Amenities:

• Laundry

• Intercom

• Groceries

• Food Court

• Yoga Plaza

• IPTV Enabled

• Bio Gas Plant

• Wi-Fi Enabled

• Healthcare Centre

• Workshop & stores

• Proposed Bank ATMs

• Underground cables

• Exclusive show rooms

• Underground drainage

• 24 hrs. Power back-up

• Beauty Parlour / Salon

• Common Area Surveillance

• Fully-equipped Gymnasium

• Courier / Postal facilities

• Car wash / Emergency repairs

• Convention Centre and Banquet Hall

• Tennis, Badminton and Squash Court

• RO plant for Ground Water Treatment

• Jogging and Cycling Track - 4-5 Kms

• Multi-level car parking - 1/2/3 per apartment

• Bore well, RWH and Municipal water for Water Supply

• Amphitheatre for group activity and for amateur theater

Specification:

FLOORING

• Vitrified Tiles at Living Room

• Imported laminated wooden flooring in Bedroom

• Antiskid Ceramic tiles, Counters in Marble/Granite flooring in Kitchen

• Antiskid Ceramic Tiles flooring in bathroom

• Terrazzo tiles/Ceramic tiles flooring in Balcony

• Grey mosaic cast in situ/ tiles flooring in servant room

WALLS

• Acrylic Emulsion walls in living and bedroom

• Combination of ceramic tiles, (up to 20 above counter) & Oil bound distemper in kitchen and Bathroom

• Paint as per external finish in the Balcony

• Oil Bound Distemper in servant room

CEILING

• Oil Bound Distemper

FITTING & FIXTURES

• Stainless steel double bowl, single drain board kitchen sink, Sink Mixer in the Kitchen

• Single lever CP fittings, White Chinaware, Glass shower partition only in master bath, towel rail/ ring (No bath tubs) in Bathroom

• Modular type switches & sockets, copper wiring (fittings like fans, light fixtures, geysers, appliances etc. not provided).

• CC TV for podium parking and entrance lobby at GF. Boom barriers at entry /exit of the complex and at entry/exit of the podiums.

DOORS & WINDOWS

• Teak veneered & polished shutter / molded skin door at entrance.

• Polished/painted frames made of hardwood & painted flush shutters / molded skin doors internally.

External glazings are powder coated aluminum

DLF Signature Tower is located at Kakkanad Kochi.

Key Distance:

• 0.3kms KMSCSEZ

• 1.5kms Info Park

• 0.3kms Technopolis

• 8kms Choice School

• 0.75kms Collectorate

• 8kms Vytilla Junction

• 1kms Sunrise Hospital

• 2.5kms Rajagiri School

• 1kms Kakkanad Bus Stand

• 14kms South Railway Station

• 25kms International Airport

• 7kms Emakulam Medical Centre

Developers offer apartments to settle dues-Gowealthy.com head says prices too steep to close such deals

Developers in the UAE have offered Gowealthy.com apartments, off-plan and at a very high price, in exchange for millions they owe to the company in commission, company chairman told Emirates 24/7.

“We have been offered off plan properties, at very high prices, by developers who owe millions in commission to us. Units being off plan and steep prices don’t make any sense,” KV Sidharthan said.

“We favour out-of-court settlements… we are in negotiations with developers and are flexible in our approach.”

Industry sources confirm that a number of developers have taken the approach of settling their arrears by offering apartments to their debtors, but deals haven’t been struck due to the pricing difference.

Refuting a media report on gowealthy.com being sold, Sidharthan said: “We haven’t sold anything nor do we plan to… our lawyers have sent notice to the publication.”

Although the slowdown in the UAE realty market forced Gowealthy to downsize its operations, mostly the sales department, it now is expanding into new territories.

“We will be expanding our operations to 25 countries. We have already launched websites for six new countries,” he added.

Global consultancies and real estate experts believe property prices in the UAE will continue their slide this year with recovery likely in 2012.

Kuwait-based Global Investment House expects housing oversupply, price declines and slow transaction volumes to again dominate market dynamics in the UAE this year, while Jones Lang LaSalle said residential market in Dubai will continue to experience a situation of oversupply with prices not expected to recover before 2012.