DUBAI — The fast growth in the local leisure boat market is being sparked by the numerous waterfront developments in Dubai, a source in the industry told Khaleej Times yesterday.

An estimated 25,000 new berths for boats will be built over the next five years in the UAE. In Dubai alone, mega- projects such as the Dubai Marina, The Palms and the Dubai Festival City will feature large marinas, capable of hosting thousands of boats.

“The general demand in this region is for boats which are usable for watersports, fishing, diving and snorkelling; multi-functional boats which are suitable for beginners and advanced drivers,” the industry official said.

According to the Gulf Boating Market Report, this strong incline in marina leisure is projected for the UAE, Kuwait and Qatar. Around the Gulf, experts estimate one boat for every 423 local people.

Leisure fishing is on of the main drivers for boating in the Gulf, due to the traditional aspect of fishing and pearl-diving in the past. However, with the increasing number of overseas property purchasers in Dubai, imported boats from leading European and US builders are on the increase. Sailing boats, which have had only a small market share in the Gulf in the past, are showing an increasing trend in the UAE.

The market leader in the supply of leisure boats in the Gulf is the UAE-based Gulf Craft, which has built some 4,500 boats in twenty years of production and has a boat park market share of 16 per cent. Bayliner, a member of the UK Brunswick Boat Group, has the largest share of the imported boat park with an estimated market share of 3.6 per cent.

Italy-based manufactures Azimut, Ferretti and Pershing and Princess and Fairline from the UK are the most established brands in the region.

There are currently three Arabic boating magazines, The World of Yachts and Boats, Bahry and Knotika, besides a few web sites that service the marine leisure market.

World wide, it is estimated that 30% of the world’s mega-yachts are owned by AGCC nationals, yet many keep them in the Mediterranean.

Local and international banks have been quick to realise the opportunity, offering a range of financing options for potential boat owners.

UK-based HSBC requires a 30 per cent down payment and a valid boat and life insurance. The National Bank of Abu Dhabi (NBAD) also offers two types of boat financing loans.

This year’s boat show, scheduled from March 14-18, is set to break records with over 90 per cent of exhibitor space already booked, and more than 25,000 visitors anticipated.
Source: khaleejtimes.com

Dubai is becoming increasingly popular with British property investors looking for some sun.

Currency specialist HIFX’s new Global Property Hot Spots report finds that the Middle Eastern state, along with Bulgaria, is increasingly popular with UK residents looking for a second home.

Since last year the number of Britons buying homes in Dubai has increased 60 per cent, with the number of people buying a property in Bulgaria rising 77 per cent.

Traditional favourites France and Spain are still the most popular places for UK residents to buy second homes in, but interest there is on the wane.

“Although France and Spain remain the most popular destinations to buy abroad, due to their proximity and the cheap price of travel, British citizens are starting to look further afield,” said Alex Wright, director of HIFX.

“Dubai is an attractive location for Brits with the winter sun averaging eight hours a day. Property prices are relatively cheap compared to international standards and rental yields are still high. Dubai has many grand projects to increase its visitor numbers which should sustain rental incomes for investors.”

But, overall, Britons owning property abroad tend to cluster closer to home.

Thirty-five per cent of Brits with homes overseas have a place in Spain and 24 per cent have a property in France.

But interest in buying in Spain has now dropped 26 per cent, HFIX reveals, with the number of Brits asking about France falling 24 per cent.

By contrast, the number of people enquiring about Bulgaria rose eight per cent.

“Bulgaria is booming and the Black Sea resorts are reminiscent of Spain 20 years ago; investors are buying in their droves and there is similar activity in some of the ski resorts,” said HIFX’s Mr Wright.

“Supply is in danger of outstripping demand from a rental perspective so investors should be wary; capital growth is what most speculative investors are chasing at the moment. Traditional areas such as Spain and France are still popular with families looking for a holiday home and retirees who plan to spend the majority of their time abroad but the younger generation are becoming more adventurous.”

Source: myfinances.co.uk

• 5 Star Building with Full Amenities and Facilities
• Fully Furnished and Serviced Luxury Apartments
• 7.5% Guaranteed Rental for 5 Years
• 50% Mortgage Financing Available
• Excellent Location in Main Commercial and Executive Area of Shanghai
• 15 Minutes from Hongqiao Domestic Airport
• Developed by one of Shanghai’s Largest and Most-Renowned Developers, Yangzijiang Construction Group
• Optional 7 Days’ Free Stay per Year for Owners

Located in the Hongqiao district, the main commercial area and one of the best locations in Shanghai, Plaza Hyundai will help to solve Shanghai’s significant hotel accommodation shortage problem whilst offering investors the benefit of high expected capital appreciation, a guaranteed rental return of 7.5% a year for 5 years, and an optional mortgage of up to 50% over 10 years. The Hongqiao area of Shanghai, where more then 300,000 expatriates, overseas business people and their families are located, attracts many foreigners because of the location near to the main business area, schools, shopping centres, consulates, and the exhibition centre. The development will house three main buildings: The residential Plaza Hyundai hotel/ service apartment tower (the first high grade building for serviced apartments in the area). There are 25 floors with 22 units on each floor which are decorated and fully furnished. The lobby will provide a restaurant/coffee shop, swimming pool, 6 elevators and underground parking. 23 floors of commercial office space situated directly opposite. The conference centre and club with separate spa, gym and other facilities, serving both the hotel and office buildings. Key Facilities

• High-Speed Internet and Cable TV
• Air Conditioning in All Rooms
• Swimming Pool and Spa
• Gym
• Restaurant, Bar and Coffee Shop
• Room Service
• Housekeeping Service and Maintenance
• Laundry and Dry Cleaning Service

For further Information on this property, please contact Property Frontiers Telephone: +44 (0)870 4292884 Fax: +44 (0)870 4292885 Website: www.propertyfrontiers.com/hplaza

Observing the search engines on the internet over the past 3 months there has been a steady decline in Spanish property searches and steady increase in demand for Bulgarian property. Is this due to the inflated Spanish property market or is there a definate pattern forming due to the urgency being created by Bulgarias’s entry to the E.U. as 2006 becomes the ultimate opportunity for a profitable investment in Bulgaria?(I-Newswire) -

Spain always has been and probably will carry on being the number one location for people buying property abroad mainly due to its location .Bulgaria has been a buzz word for the last 12 months , hot on the heals of its predecessor Croatia.

Although Countries like Bulgaria and Turkey have taken a chunk of the Spanish market as a great alternative to Spain due to price. There hasn’t been anything like the difference in searches on the internet over the last 3 months. Whilst Searches for Spain have been slowly declining. Bulgaria seems to go from strength to strength. It can’t just be the increase due to winter skiing as Spain has this to offer also. It cant be the location as Spain is more convenient to travel to especially this time of year. If you compare the two locations for variety then they are more or less equal. Therefore it can only be the urgency factor regarding the return on investment leading up to the E.U. entry . If Croatia is anything to go by then Bulgaria will carry on increasing in demand over the next 12 months. In 2007 the price will become less attractive as supply out weighs demand.

Watch this space and watch your pennies.If you are buying for investment reasons but are not sure when the best time would be to sell . Then a word of advice would be to register the property for sale as soon as you have purchased it. If you are not sure about when to buy a Bulgarian property based on current trend then the simple answer is to do it now or dont do it at all. Simply fall back on that old steady long term investment Spanish favourite or wait for the next big thing to hit the property market abroad ! Could it be China ?

AS COMPETITION intensifies in Australia, property investors are increasingly turning to the rapidly expanding Chinese market, despite concerns about corruption and cultural and legal differences.

Foreign investment in Chinese property has lagged investment in manufacturing, but market participants say interest is growing rapidly.

Anthony Chiminello, director of Bridgewater International, says more wealthy people are looking to invest in property in China, particularly in residential. “There’s definitely been greater interest,” he says. “Traditionally, private investors have been quicker to act, opposed to corporations and property funds only because they are not constrained by red tape.”

Glenn Sommer, national director of industrial Jones Lang LaSalle Australia, says: “There are tremendous opportunities. Certainly, institutions in Australia are looking into mainland China both in commercial and industrial.”

Recently, Macquarie Property’s investment banking business announced a deal to purchase a 26-storey residential tower in Shanghai. Macquarie Bank along with Macquarie Goodman also have plans for a major push into the Chinese property market, according to documents filed in Singapore.

But tracking how much Australian money ends up in Chinese property is hard to do.

Overall foreign capital — not just Australian — makes up 15 per cent of the Chinese real estate market, according to one report.

JLL’s head of research, Kathryn Matthews, says the increased interest in investing overseas is part of a larger trend. “Global capital flows are on the rise,” she says. “Investors are more willing to look cross border and cross region to find opportunities.”

Part of the attraction of overseas property investment — and of emerging markets like China — is that there are fewer and fewer property investment opportunities in Australia, JLL’s Mr Sommer says.

“There are millions of dollars per month pouring into institutional funds from super and there are increasingly fewer places for those funds in Australia, which is driving yields down.”

China’s attractions are obvious: its size and its rapid economic growth and urbanisation.

But there are challenges. “It’s very dangerous just to assume that the market is going to grow on the back of 1.3 billion people,” Bridgewater’s Mr Chiminello says. “We really have to look at the trends in the population and what is happening.”

He says investors have been hesitant due to uncertainty about the legal system, cultural differences and language. JLL’s Mr Sommer says a lack of transparency and planning are also major issues. “They have probably got to streamline their planning approval process and make it more transparent; there’s something like 30 approvals,” he says. “Understanding the taxation system and understanding what China wants to get out of investment is also an important factor.”

According to international organisations, corruption is a major issue. “Corruption is one of the most important problems in China today,” a recent OECD report noted. “It continues to pose a significant challenge as a particular feature of the transition process.”

Ms Matthews hopes that China’s entry into the World Trade Organisation in 2001 will see improvements in its legal system and transparency. “It’s hard to make an informed decision,” she says of the lack of information on the market at present.

One thing to consider, market participants say, is the importance of a local partner or someone who knows the Chinese market before investing.

Source: theage.com.au