Dubai Sharjah Ajman Abu dhabi Properties & immigration News

IN VIDEO: Metro's first passenger train - Transportation - ArabianBusiness.com

2009-09-10T02:28:00.001-07:00

IN VIDEO: Metro's first passenger train - Transportation - ArabianBusiness.com

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Burj Dubai tallest building open to public on December 2

2009-07-29T03:40:00.000-07:00

The Burj Dubai will officially open to the public on December 2, to coincide with UAE National Day.The opening date of the world’s tallest building has been a closely guarded secret for years – however, a senior architect working on the project has confirmed that December 2 has been set aside for the opening.
The Armani Hotel, part of the building, will take its first guests on the same day.
Ceremonies to mark the launch are also being planned for December 2. It is not yet clear whether other parts of the tower will be fully accessible.
“This will be a huge achievement and a big celebration for the UAE and for Emaar, particularly as it’s UAE National Day. It will be the first time the public can enter the building,” said the architect.
Emaar has always maintained it will not comment on the specific opening date and has also been tight-lipped over the final height of the Burj Dubai, which is thought to have topped out earlier this year at 818 metres

Expats face swine flu ban after holidays abroad - Healthcare - ArabianBusiness.com

2009-07-28T03:02:00.000-07:00

Expats face swine flu ban after holidays abroad - Healthcare - ArabianBusiness.com: "Expats face swine flu ban after holidays abroad"
Expatriates in the UAE on holiday abroad will have to produce a medical certificate proving they are not infected with swine flu before returning to the country, according to a report on Tuesday.From August, any person with swine flu symptoms without the certificate would be refused entry to the UAE , said a source from the National Committee for Combating Swine Flu.“Accordingly, any company or establishment will have the right to cancel sponsorship if the worker conceals an infection intentionally," the unnamed source was quoted as saying in a report by UAE daily Gulf News.The step was part of strict measures needed to contain the H1N1 virus, the source added.Quarantining people infected with the virus and not allowing them to come into contact with others in public locations such as markets, malls, cinemas and worship areas was vital to curbing the spread of the virus, the source said.The National Committee for Combating Swine Flu is a government organisation set up to fight the spread of the virus.

Victory Heights hands over the 100th set of keys

2009-07-27T22:54:00.000-07:00

Dubai, UAE, 27 July 2009 — On the 27th July, Victory Heights was delighted to announce another major project milestone, handing over the 100th set of keys to a new homeowner, who will be joining the rapidly growing community in this landmark development within Dubai Sports City.
The handover began in the Estella and Carmen Villages, and has been carried out in a carefully controlled fashion, to ensure that the new residents are able to enjoy a high quality experience as they move into their new homes. Following closely behind the first 100, Victory Heights has also issued handover letters for an additional 150 homeowners, who are expected to move in within the next few weeks. Villas in the Novellia, Esmeralda, and Oliva Villages are next in line for handover.
“We are very proud with the quality of the product which is now being delivered to homeowners, and the reaction of the new residents to their new homes has been exceptionally positive. It is exciting to be witnessing the successful culmination of this project, Dubai’s foremost golf residential development”, commented Victory Heights’ General Manager, Yasser Al Raee.
Mr. Arun Khehar, Victory Heights hundredth client, stated that being part of a milestone of the project has been a delightful experience. “Victory Heights has impressed me with the quality of my home and their commitment to customer service, resulting in my opinion, a smooth and efficient hand over process. I look forward to the experience of being a part of a community that has a unique mix of beautiful landscaping, life style amenities, and of course living close to a championship golf course. It is indeed a very special and exciting moment for my family,” said Mr. Khehar.
Covering some 25 million square feet, Victory Heights is an exclusive villa community offering 963 beautifully designed villas and town homes set in and around The Els golf course. In operation now, the 18-hole championship golf course has been designed by renowned golfer Ernie Els and is complimented by the Butch Harmon Golf Academy. Additionally, tennis legend, David Lloyd will have his academy based within the community.
Located in Dubai Sports City, the world’s first integrated sports city, this sought-after development will present a comprehensive variety of amenities including schools, retail and community facilities and a world-class range of sports and leisure facilities.

House prices: Caught in the downward current

2009-07-27T02:40:00.001-07:00

WHEN we last looked at global house prices, only six of the countries we surveyed had recorded year-on-year declines. Three months later that figure has risen to 16.

In America some saw signs of a bottom in a report on March 17th showing sharp rises in housebuilding starts and permits in February, after months of decline. Others, however, just saw a bigger stack of apartments for sale which no one will be very keen to buy. In truth, the outlook has long been dismal from the banks of the Potomac and the Thames, and now it is starting to look grim from the banks of the Huangpu.

Gone is the optimism of yesteryear. Book titles such as Are You Missing the Real-Estate Boom? The Boom Will Not Bust and Why Property Values Will Continue to Climb Through the End of the Decade And How to Profit From Them (2005) are destined for the annals of folly, next to asset-bubble classics such as Dow 36,000. Fear has replaced frenzy, and house prices may overshoot on the way down. A recent report by Numis Securities estimated that British house prices could fall by a further 40-55%, saddling millions with properties worth less than their mortgage debt. Long was the uphill march, long will be the downhill descent

Escape Receives Official Green Light from Ajman Real Estate Regulatory Agency (ARERA).

2009-03-02T02:43:00.000-08:00

March 2, 2009, Ajman, UAE: Escape, Ajman’s 200 acre equestrian community has received all required official approvals from the emirate’s recently-established Ajman Real Estate Regulatory Agency (ARERA). Moving ahead with the development’s overall construction timeline, Escape is now in the final negotiations stage to award the villa construction contract, the final decision will be announced shortly.
“I believe that with the establishment of ARERA property buyers will have more confidence in purchasing property and in Ajman itself,” said Anwer Sher, General Manager of Escape LLC. “It’s an excellent move for the emirate. Any regulation in the market that safeguards the interest of home buyers and investors is critical at this time,” he continued.
Sher pointed out that Escape worked quickly and efficiently to answer to ARERA’s call to action, and has in fact maintained a fully functioning corporate office headquarters in downtown Ajman, well before the Agency dictated that all Ajman developers must have an official presence in the emirate.
“In accordance with the new legislation, Escape has established escrow accounts for all home buyers, and additionally maintains a state of the art Customer Service Centre which employs a team of bilingual consultants. Furthermore, we recently introduced a Customer Relationship Management (CRM) programme designed exclusively for the real estate sector making us the first developer in Ajman to enable and encourage direct one on one communication with our investors”, said Sher.
“As a local developer, we took a differentiating lead in launching our CRM Programme. We felt it important to be able to talk directly with our customers and receive their feedback or address their concerns in the recent market downturn,” said Aadil Sher, Sales and Customer Service Manager for Escape.
The landmark equestrian lifestyle community which was launched in January 2008, has kept to a rigorous development schedule. The project team approved all architectural designs well in advance, and already confirmed contracts for residential flooring, kitchens and fittings. Bulk earthworks on site were completed the end of last year, and Escape Management is concluding negotiations with villa contractors who were invited to tender. The contract award is ‘imminent’, and it ‘wont’ be long till actual construction work starts on site,’ according to Anwer Sher.
Consisting of villas, duplexes, apartments, as well as a luxury boutique hotel, the HoofbeatZ™ Clubhouse, a sports hall, an equine spa, and a full complement of equestrian facilities, Escape is located off the Emirates Road, on the border of Sharjah and Ajman, and is conveniently located near to major business hubs in Dubai and the Northern Emirates. Escape’s ARERA registration number is 40453.

Gowealthy Capital Ltd started functioning

2009-03-02T01:25:00.000-08:00

Gowealthy Capital Limited is an investment company registered with Dubai International Financial Centre (DIFC) and regulated by Dubai Financial Security Authority (DFSA). Gowealthy Capital Ltd operates under a “Category 3” asset management license permitting trade in a number of financial instruments apart from its core activity, that being the Operation of Collective Investment Funds. It is a specialist service provider to the Real Estate industry – strategically focusing on the Asset Management component deliverables and will be instrumental in the establishment of a number of real estate funds

Online property barter system in Dubai attract Dubai land owners

2009-02-19T02:12:00.001-08:00

The property barter concept is new to Dubai property owners and attracted hundreds of land owners and it will get a momentum in coming months. Property Swap is the first formalized online property barter community in the UAE for those looking to shift or exchange real estate stock. Designed by the region’s leading property brand, Gowealthy.com, this web-based solution is aimed at home owners and property investors feeling the pinch of the cautious market conditions.
Gowealthy Prop Shop enables registered users to effortlessly connect with people in similar situations who are willing and able to exchange residential, commercial and even land plots from the comfort of their home. The current economic climate has left many people in the unfavorable position of having to sell and move, but are unable to do so. In addition, many owners and investors have a number of properties they would rather exchange for more desirable or favored properties, than retain as stock. Prop Swap provides such clients with an inexpensive tool to access exclusive organizations or investors seeking properties in new areas. With property sales falling and regular sales chains collapsing, the time is ripe for creative marketing and sales solutions within the property market. Property swapping has the substantial advantage of allowing an owner-investor to take control. It helps initiate sales by matching the properties of people who want to trade up or down but are unable to sell in a normal chain because of market conditions.

Online property barter services In Dubai

2009-02-08T22:22:00.000-08:00

Property Swap is the first formalized online property barter community in the UAE for those looking to shift or exchange real estate stock. Designed by the region’s leading property brand, Gowealthy.com, this web-based solution is aimed at home owners and property investors feeling the pinch of the cautious market conditions. Gowealthy Prop Shop enables registered users to effortlessly connect with people in similar situations who are willing and able to exchange residential, commercial and even land plots from the comfort of their home.
The current economic climate has left many people in the unfavorable position of having to sell and move, but are unable to do so. In addition, many owners and investors have a number of properties they would rather exchange for more desirable or favored properties, than retain as stock. Prop Swap provides such clients with an inexpensive tool to access exclusive organizations or investors seeking properties in new areas. With property sales falling and regular sales chains collapsing, the time is ripe for creative marketing and sales solutions within the property market. Property swapping has the substantial advantage of allowing an owner-investor to take control. It helps initiate sales by matching the properties of people who want to trade up or down but are unable to sell in a normal chain because of market conditions.
“We have the most comprehensive property swap service to date as Gowealthy is linked to a vast data base of clients who either are looking to buy, or sell. Specialized in swapping, buying and selling, Prop Swap will accommodate everyone from private owners to investors, property brokers and large organizations. Our aim is to help them sidestep the existing market situation and ease the pressure of buying and selling. There is no time-consuming frustration of dealing with multiple estate agents as members of the Prop Swap community can list more than one property,” says Peter Penhall, Chief Executive of Gowealthy.com

Dubai sees $1.1 bln '09 budget deficit, first ever

2009-01-11T02:36:00.000-08:00

Dubai expects to post its first budget deficit in 2009 as major infrastructure projects weigh on its budget, but the Gulf trade hub plans to raise spending 11 percent, a senior policy-maker said on Saturday.The government fiscal deficit was expected to reach 4.2 billion dirhams ($1.14 billion) in a 2009 budget based on an oil price of $45 a barrel, said Nasser al-Shaikh, director-general of Dubai's finance department.Total government spending in 2009 was expected to reach 135 billion dirhams, Shaikh said, with 37.7 billion dirhams of that to be spent on the public sector alone."As far as I know we have never had a deficit in Dubai before," Shaikh said."Operationally we are at a surplus of 3 billion dirhams but if you add investment in infrastructure, the deficit is 4.2 billion dirhams," he said, referring to major projects such as the emirate's metro network and new airport.These projects would not however be delayed or cancelled, he said. "His Highness (the ruler of Dubai Sheikh Mohammed bin Rashid al-Maktoum) has made it very clear that we will continue with our projects," he said.Total revenues in 2009 were estimated at 138 billion dirhams, a 4 percent increase from 2008.The deficit represents 1.3 percent of Dubai's gross domestic product at the end of 2007, Shaikh said, predicting a balanced budget within two to three years. "We have a number of options. One is the capital markets if they open up," he said, adding that Dubai could also rely on its reserves if needed.Dubai has suspended a tranche of a 15 billion dirham ($4.08 billion) notes programme intended to fund development projects "due to market conditions," he said. [nLA478187]DUBAI GROWTH REVISED DOWNShaikh reiterated remarks made at the end of last year that Dubai's economic growth was expected to be between 4 and 6 percent in 2009, compared to an earlier forecast of 11 percent."In the current global environment this (11 percent) is not achievable," he said. "We are in the process of revising our strategy."Dubai had appointed consultants as part of its decision to seek a sovereign credit rating by mid-2009, without naming them.A committee set up by the government to tackle the impact of the global credit crunch, to which Shaikh belongs, has focused mainly on the emirate's once-booming property sector, he said."On real estate we have a somewhat clear picture of what is coming," he said, reiterating that the number of new residential units in 2009 would -- "best case scenario" -- reach 32,000. "Gradually we need more liquidity injected into the banking system but I don't think anyone can give you the ultimate figure of how much is needed," he said.The United Arab Emirates' central bank set up a 50 billion dirham emergency bank lending facility in September and the government has injected part of a 70 billion dirham rescue facility into bank deposits.Dubai's sovereign debt stands at $10 billion while debts of state-affiliated firms amount to $70 billion, Mohamed Alabbar, a member of Dubai's ruling council and chairman of Emaar Properties EMAR.DU said in November.

Ajman introducing new property regulation Establishment decree

2009-01-07T00:20:00.000-08:00

His Highness Sheikh Humaid bin Rashid Al Nuaimi, UAE Supreme Council member and ruler of Ajman yesterday issued Emiri Decree 11/2008 setting up Ajman Property Regulation Establishment and Emiri Decree 12/2008 amending Emiri Decree 8/2008. The two decrees shall have immediate effect.
According to the 21 article Decree 11/2008, the Ajman Property Regulation Establishment shall have a juridical personality affiliated with the Government of Ajman and shall be administratively, financially independent body with full legal competence.
The Establishment, which is fully tax-exempted, will be tasked with drawing policies for property projects and commercial buildings in the emirates, recommending legislations as well as regulating the relations between property developers and buyers of the various units. It shall recommend speedy, friendly out-of-court approaches to resolve disputes that may arise between the two parties.
It shall also advise the ruler on the allocation of areas for new free zone and property development and commercial buildings. It shall also have the authority to grant licenses to property developers.
Emiri Decree 12/2008 amends Emiri Decree 8/2008, which regulates collective ownership at property projects and commercial building. It is also based on Emiri Decree 11/2008.
The new decree adds "Ajman Property Regulation Establishment" to the definition of "Municipality" and amends the definition of "Director General" to read as follows: "the Director General of Ajman Property Regulation Establishment" and any person authorized to deputize for the Director General.
In Emiri Decree 12/2008, the word "Lands Department" is deleted from Article 9, Article 11, Article 12 and Article 13 and is also replaced by the word "Establishment". The decree deletes Article 4 (Property Projects Committee) and any reference that is made to the committee in Articles 5, 6 and 7.
The word "Establishment" also replaces the term "Property Projects Committee" wherever it occurs in the text of the decree. – Emirates News Agency, WAM

Dubai developer ETA Star put on credit watch list

2008-11-24T00:13:00.000-08:00

Standard & Poor's Ratings Services is growing increasingly concerned about its long-term 'BBB-' corporate credit rating for the ETA Group and has placed the Dubai-based conglomerate on CreditWatch.

The ETA Group, which through its subsidiaries, has interests in real estate, contracting and shipping, has a 'BBB-' debt rating for its $300m senior unsecured bank loan which is due in 2012.

According to S&P the group has been put on CreditWatch because of concerns that the global economic slowdown is now adversely affecting ETA's main markets, which may lead to a drop in trading performance and a further deterioration of key credit ratios. "These actions are due to concerns over increasing financial leverage, the likely adverse effect of the continuing global economic slowdown on ETA's cyclical activities, and low levels of headroom under financial covenants," said Standard & Poor's credit analyst Stuart Clements.

Axis Residences Phase 3 launched at Silicon Oasis

2008-11-07T09:31:00.000-08:00

Axis Residences 3 is part of the prestigious Axis Residences property development in the heart of Dubai Silicon Oasis Free Zone. Comprising buildings 10 to 21, Axis Residences 3 offers an enticing selection of 1, 2 and 3 bedroom apartments of myriad sizes and layouts. All the properties are moderately priced and come with a payment plan tailor-made for your annual and monthly budgets!

Construction of Phase 3 is well under way.

100 Month Payment Plan
3% Down Payment
AED 9500 per month! (For 18 months during construction from Jan 2009)
Balance in equal installments over 80 months

If you missed our previous launches, don't rue your lost chances. Gowealthy.com provides you with a golden opportunity to own a home at Axis Residences NOW...Our payment plan addresses all the concerns that you may have as a buyer. No paperwork, no bank acceptances, and therefore no hassles...

Finance is available, directly from Gowealthy.com and the developer.

Axis Residences at a glance:

Well-planned community in Dubai Silicon Oasis
Phases I and II of Axis Residences in various stages of completion
Phase I slated for delivery in the forth quarter of 2008
Phase II to be completed by December 2009
Strategic location on Emirates Road
Close to Dubai International Airport and Jebel Ali Free Zone
World class cafes, restaurants and retail outlets on your doorstep

2008-09-29T05:11:00.000-07:00

DLF launch its new residential project in Kakkanad New Town Heights. DLF�s Kakkanad project is a mega township of almost 28 Acres. 80% Open space. Total 9 Towers and total number of Apartments are 1400 Approx. Total 21 Blocks and each Block has 4 Apartments. DLF New Town Heights township will have the convenience of a Business Club which would be almost 60000 sq. ft., will contain convention halls, guest suites, Ayurvedic parlors and Spa, Branded stores, Restaurants etc. The sports club will have a fully equipped Gym and a large swimming pool Guest Suites, Restaurants, Badminton Court, Squash court etc.

About Developer : DLF has a 60-year history of service excellence. Since it was founded in 1946, it has been responsible for the development of 21 urban colonies aggregating 5,816 acres, as well as an entire integrated 3,000-acre township - DLF City. DLF Homes provides a wide range of products including condominiums, duplexes, row hoses and apartments of varying sizes, with a focus on the higher end of the market. DLF has already developed 54 million sq. ft with plans of developing another 300 million sq. ft of projects across the country over the next 10 years

Key Distances

International Airport – 25 km
South Railway Station – 14 km
Collectorate – 750 m
Info Park – 1.5 km
Smart City - 2 km
Technopolis – 300 m
Vytilla Jn – 8 km

Price Floor plan click here

New Town Heights (Kochi) - Kochi Kakkanad

2008-09-29T05:03:00.000-07:00

About Developer : DLF has a 60-year history of service excellence. Since it was founded in 1946, it has been responsible for the development of 21 urban colonies aggregating 5,816 acres, as well as an entire integrated 3,000-acre township - DLF City. DLF Homes provides a wide range of products including condominiums, duplexes, row hoses and apartments of varying sizes, with a focus on the higher end of the market. DLF has already developed 54 million sq. ft with plans of developing another 300 million sq. ft of projects across the country over the next 10 years

Key Distances

International Airport – 25 km
South Railway Station – 14 km
Collectorate – 750 m
Info Park – 1.5 km
Smart City - 2 km
Technopolis – 300 m
Vytilla Jn – 8 km

For floor plan, Price, Registering

Capitala Abu Dhabi Awards AED 1.9 bn Main Construction Contract for Rihan Heights

2008-09-23T04:11:00.000-07:00

WAM Abu Dhabi, Sept.23rd, 2008 (WAM) - Capitala, the Abu Dhabi-based strategic master planner and developer, announced Tuesday that it has awarded the main construction contract for Rihan Heights, the first phase of its US$ 5 - 6 billion flagship project, Arzanah.

Strategically located at the gateway point on Abu Dhabi island, Arzanah is the 1.4 million square metre fully integrated, mixed use development surrounding Zayed Stadium. Arzanah offers a unique blend of quality residential properties with leisure, sports and retail amenities that focuses on promoting an active urban lifestyle for its residents and the community at large.

Rihan Heights consists of five residential towers with 854 apartments and 14 exclusive villas. Enabling works have already commenced with piling completed a month ahead of schedule. This 25-month main construction contract covers all other construction activities as well as associated mechanical, electrical and plumbing works (MEP).

The contract, valued at around AED 1.9 billion (approx US$ 500 million), was awarded to the joint venture partnership between Sunway Construction Sdn Bhd (SunCon), part of the international Sunway Group, a leading multi-disciplinary conglomerate headquartered in Malaysia, and Silver Coast Construction '&' Boring Est, a leading Abu Dhabi-based contractor.

Huge Fire breaks out Port Khalid In Sharjah

2008-09-20T22:45:00.000-07:00

According to media reports the fire started around 2.00am in a garbage bin at a depot owned by Emirates Refining Co. (ERCO), which manufactures edible oils and fats. At least two people have been injured in a huge fire at an oil storage depot inside Port Khalid in Sharjah.
The entire port was shut down and surrounding area cordoned off while civil defence and emergency services attempted to tackle the blaze

Sharjah Police Chief Brigadier Hamid Mohammed Al-Hudaidi, who is commanding the operations at the scene, said an investigation has been launched into the cause of the fire, according to state news agency WAM.

Two firemen and a worker sustained minor suffocation injuries and were treated at the scene, according to Al-Hudaidi.

He called on owners of surrounding factories at the Port to comply with safety precautions and safe storage measures to avoid "such disastrous accidents which wreak havoc upon public properties".

$272mn deal to build Meydan road network in Dubai

2008-09-14T04:10:00.000-07:00

The Roads and Transport Authority (RTA) said on Saturday the first phase of development will include construction of three crossings linking Muscat Road with the Dubai-Al Ain Road.

The RTA said phase two of the project, which will be put out to tender in the near future, will cover the elevation of a section of Dubai-Al Ain Road to allow for the passage of canal, a crossing at Al Khor Road, a road branching out of Dubai-Al Ain road towards Ras Al Khor Road, and inbound and outbound roads to Meydan

Blaze drama puts Atlantis opening in doubt

2008-09-02T04:59:00.000-07:00

The most luxurious offering at the $1.5 billion Atlantis bore the brunt of the blaze that hit the soon-to-open resort on Palm Jumeirah on Tuesday.

With its private elevator, the $25,000 a night Bridge Suite - located above the hotel lobby where the fire started - suffered extensive smoke damage, a source close to the project told Arabian Business.

The suite offers a generous reception lounge, dining area with a gold-leaf table seating 16 guests, and library with state-of-the-art media centre.

Gowealthy.com strengthens commitment in Ajman with 10,000 sq. ft. dedicated office

2008-08-27T04:17:00.000-07:00

Dubai, 26 August, 2008: Gowealthy.com the region's global property and lifestyle brand offering comprehensive marketing solutions for property developers, investors and retailers, have opened a dedicated office in the emirate of Ajman, offering developers and investors a professional resource in the developing market.

Based out of the penthouse of the Escape Ajman project, Sheikh Amaar tower, the 10,000 sq. ft. office is the first step in Gowealthy.com's ongoing expansion and commitment to the emirate, boasting a knowledgeable team of twenty property consultants with experienced management and back office support.

"Our expansion into Ajman is not only a commitment to the dynamic and emerging market, but to the community as well. Ajman has tremendous untapped potential in so many respects and they are really starting to shine through. We are here to nurture this spirit of development and excellence both professionally and personally as they mirror our own ideals of providing a solid infrastructure for our partners," commented Peter Penhall, Chief Executive Officer of Gowealthy.com

Gowealthy.com intends to build further credibility in the market, helping to put more developers at ease with their investments by offering the best possible returns. In doing so, this would positively reflect on investor's margins and security as well, further adding a basic foundation for greater development in the emirate.

The state-of-the-art office not only features the latest in modern amenities and interior design but also offers a number of functional elements including a presentation theatre for developer meetings and launches, as well as break out rooms that can be used for one-to-one meetings or presentations. The office will also offer focused advice and service advisors to both investors and property developers looking for the best solutions to get their projects to market.

Fire breaks out near Burj Dubai

2008-08-17T04:33:00.000-07:00

Gulfnews: Fire breaks out near Burj Dubai: "Fire breaks out near Burj Dubai

Staff Report
Published: August 17, 2008, 10:54

Dubai: A fire broke out near the Burj Dubai off Shaikh Zayed Road on Sunday, witnesses said.

The Civil Defence was at the scene to control the fire.

Plumes of smoke seen rising from the area cleared minutes later, witnesses said."

Dubai’s budget expenditure in 2009 expect more than 33% for Infrastructure projects

2008-08-07T05:32:00.000-07:00

Dubai Department of Finance has issued Notice No2 of 2008 that starts the process for drawing up the budget for 2009. It is expected that more than 33 per cent of Dubai's budget expenditure in 2009 will be earmarked for infrastructure projects.

In 2008, budget surplus touched AED 11.4 billion compared to AED 5.1 billion in 2007. The revenues for fiscal year 2008 in Dubai are expectedly pegged at AED 135 billion, while planned spending is estimated at AED 123.6 billion. In the UAE federal budget for 2008, 24.2 per cent was earmarked infrastructural projects.

His Highness Sheikh Mohammed Bin Rashid Al Maktoum, UAE Prime Minister and Vice President and Ruler of Dubai has said that Dubai's economy had exceeded all expectations as the targets set out till 2010 has been achieved in half the time. Sheikh Mohammed said, "In the year 2000, the plan was to increase GNP to $30 billion by 2010. In 2005 that figure was exceeded, with GNP reaching 37 billion US dollars. The plan also included an increase in income per capita to $23,000 by the year 2010. In 2005 the average income per capita reached $31,000."

Telecommunications: Telecommunications across all platforms in the UAE are fast and effective with fixed-line, internet and mobile connectivity amongst the best in the world. The 2007 Global Information Technology Report (GITR), commissioned by the World Economic Forum(WEF) in cooperation with Insead Business School, puts the UAE at the top of the ‘Net-worked Readiness Index' in the Middle East and North Africa (MENA) region and ranks the UAE in 29^th position worldwide out of 122 countries, beating many European nations. Etisalat, formed in 1976, have 6.3 million customers on its mobile phone network, 1 million active users of 3.5G and 3G data services, 1.3 million subscribers to the fixed line network, 800,000 subscribers and over 2.5 million internet users. When du's 1 million mobile customers are included, the telecom sector's penetration rate is the highest in the region and comparable to the best in the world.

Airports: UAE alone account for 60 per cent of all airport investment in the Gulf. Geographically, the country's reach is considerable, sweeping through Africa and the Middle East and linking these regions to Europe, Asia, Australia and the Americas. Over AED 77.5 billion (US$28.4 billion) is being spent to develop 7 airports in the UAE.

Road Network: The Dubai Government has come up with a plan to enhance and integrate the existing road network with the public transport system. This strategic plan will cater to the existing and future road development requirements in Dubai until 2020. The government has allocated a budget of AED 44 billion to develop road infrastructure that will add 500 km of new roads in the emirate.

Public Transport: Dubai is well-served by its public transport compared to other metropolises. About 6,900 taxis serve its population of about 1.4 million or 4.9 cabs per 1,000 people, compared to 1.6 in New York, 2.7 in London and 4.7 in Tokyo. Dubai Road Transport Authority operated 504 buses on 69 lines, transporting 88 million passengers over approximately 2 million trips during 2006. 620 new luxury buses has been added to the already existing fleet to run on intra-city and inter-city routes, including 300 articulated (long) buses and 170 double-deckers. The emirate's bus service counts 500 coaches. In fact, the transport authority is expected spend AED 52.5 billion over 5 years to expand bus, road and rail networks, RTA announced in March 2008.

Dubai's AED 15.5 billion, 74.6-km metro project launched in October 2005 is on schedule with work taking place around-the-clock. Major construction work is evident on the 52.1-km Red Line between Jebel Ali Port and Al Rashidiya. Progress is also visible in the construction of the 44.1 km of elevated track as well as on the 12.6 km of track that will run underground, 300 m of which will be under the Creek, and partially start services by September 2009.

Water: UAE consumes more than 3.2 billion cubic meters of water every year and is near the top of the global index for the highest water consumption per capita. At a conservatively estimated minimum of 10 per cent per annum until 2010, most of the UAE's water is produced by desalination, usually in conjunction with power generation and older plants are being expanded and new plants are being built to meet the enormous demand.

Electricity: The UAE needs to spend more than US$10 billion to meet soaring power demand. The current total capacity for electricity production in the UAE is around 16,670 MW compared to 9600 MW in 2001. Industry estimates expect the capacity to rise by 60 per cent to almost 26,000 MW by 2010. In response to escalating demands, the UAE Government has announced plans to expand its 10-gigawatt production capacity by more than 50 per cent by 2017. The government is undertaking necessary actions to provide adequate supply of electricity, especially in rapidly growing emirates such as Dubai, which has recorded a 14 per cent increase per year.

Ports: The UAE has over 20 ports, ranging from state-of-the-art oil terminals, industrial ports and container-handling facilities to dhow and wooden-boat wharfs. Jebel Ali Port, DP World-UAE's flagship terminal in Dubai and the eighth largest port in the world in terms of output, was awarded the title of 'Best Seaport -Middle East' for the thirteenth consecutive year at the Asian Freight and Supply Chain Awards (AFSCA) 2007.

UAE needs to spend over US$10 billion to address demand for power -

2008-08-04T02:59:00.000-07:00

"UAE. In response to escalating demands, the UAE Government has announced plans to expand its 10-gigawatt production capacity by more than 50% by 2017. The government is undertaking necessary actions to provide adequate supply of electricity, especially in rapidly growing emirates such as Dubai, which has recorded a 14% increase per year.

It has been estimated that the UAE needs to spend more than US$10 billion to meet soaring power demand. Business Monitor International (BMI) predicts that the country will account for 5.77% of regional power generation by 2011.

Recognising the tremendous potential in leveraging this market, Tripp Lite, a world leading manufacturer of power protection and connectivity equipment has announced plans to expand its current portfolio of power protection and continuity products. The company is aiming to offer more robust power protection and continuity equipment to address the requirements of the UAE market, which uses around 11,000 kilowatt hours per person per year.

“The swelling demand for power in the UAE is being fuelled by the rapid increase in population and unprecedented growth in the nation’s economy, all of which requires tremendous amounts of electricity,” said Vipin Sharma, Vice President"

Get a Dubai visit visa for a family member

2008-07-30T06:09:00.001-07:00

Last updated: July 28, 2008

Please note the new changes to the procedures and fees effective from 29th July, 2008

Criteria:

Visit visas for immediate family members can be obtained by residents (called sponsors), whose monthly salary is not less than AED 4000 or AED 3000 + accommodation.

Validity of Visa:

Short term visa: 30 days
Long term visa: 90 days
No extensions are permitted beyond this period.

Fees
• Short term visa: AED 620 application fee + typing fees
• Long term visa: AED 1120 application fee+ typing fees

Documents Required:
• Typed Application form
• A copy of the sponsor’s passport & family member's passport
• 1 photo of the family member (may be required)
• Marriage contract attested from Ministry of Foreign Affairs or UAE Embassy (for sponsoring a wife or husband)
• Attested birth certificates (for sponsoring children)
• Relationship proof attested from the Embassy (in case relationship cannot be proved from family names in sponsor and relative's passport)
• Attested work contract if the sponsor is working in a private company or a salary certificate if working in government.

Procedure:
1. Go to any authorized typing office & get application form typed.
2. Go to DNRD & submit along with your documents to Visa Section.
3. Send either original or copy to your relative. If only copy was sent, then deposit original at the airport or the DNATA counter at DNRD

Baani and Gowealthy.com launch 'iDubai' twin tower complex at Dubai Maritime City

2008-07-21T01:40:00.000-07:00

Baani Group has announced the launch of their maiden venture in Dubai, the iDubai, a 50-storey residential twin-tower at Dubai Maritime City, sold through Gowealthy.com, the region's global property and lifestyle brand.

Situated at plot R-15 within the precincts of Harbour Residences at Dubai Maritime City, iDubai comprises two 42-levelled buildings; iTower and Sky Tower, conjoined at the podium. Accommodating apartments, penthouses, Sky and Garden Villas as well as Terraced Townhomes, iDubai affords spectacular sea-views from each property. All the properties are competitively priced, with rates starting from Dh3450 square feet. The payment plan for the development entails a 10% down payment, followed by 60% in installments during construction and 30% upon handover.

iDubai now launched at Dubai Maritime City

iDubai, is a 50 storey residential twin tower project at Dubai Maritime City, world's first purpose- built maritime centre. iDubai blends the luxury of azure water and sky to offer a truly elevated lifestyle. Move into iDubai to relish the worlds best ocean views in the charming city of Dubai that never sleeps.....

Freehold residential development
Apartments with ocean views
Commercial spaces and a well-planned retail shopping area
Genuine environmental friendly project
Panoramic views of the rising and setting sun with the harbour on one side and the ocean on the other
lavish podium villas and 1, 2 and 3 bedroom apartments
‘Sky Villas' each occupying a single floor
3-level penthouse suites
Fashionable boutiques and impressive Arabic souqs close by
Smart home technology
Intelligent office spacing
Indoor and outdoor recreational options at doorstep

Posted by sonukatha at 1:33 AM