Prestigious Esskay Executives in New Ajman in the UAE was long awaited when it was launched in November 2008. This visionary concept to transfer the existing skyscraper concept of the Arabian Emirate has certainly raised interest levels for investors worldwide.
Esskay Executive is in pre-launch period with heavily discounted pre-launch prices right now giving buyers first pick on the best apartments in this 58-storey tower also dubbed “the rising of an icon”.
As the global recession looms, there is no doubt that Dubai’s property market has experienced its fair share of negative publicity and losses over the last few months. The former glorified property market is today at best a market like many others with foreclosures and job cuts imminent.
Next year the Ajman government will follow in the footsteps of the Dubai’s Real Estate Regulatory Authority when they introduce their own regulations for real estate developments in the emirate.
Back in September we covered the new Ajman property law and how it will take effect. However, it took longer than initially anticipated to sort out the finer points on the law. Further to this, the Ajman government wants to see Dubai’s law instigated first to keep things in order and not confuse buyers in the emirate nations.
The law will be welcomed by investors as some have been caught out buying from the wrong source. Chief executive of Aqaar Properties and the director of Al Zorah, Rami Dabbas said “The problem here is that people sometimes don’t investigate what they’re buying. So many people just buy off-plan without knowing the details or asking questions, such as whether the company is registered.
Executive Towers is a masterfully planned mixed use development offering both businesses and residents elegant ultra modern urban facilities within the most inspiring surroundings of Al Helio Downtown in Ajman. Executive towers is designed by renowned architects Atkins, and will include a wealth of Residential, Business and Recreational facilities.
Executive Towers in Al Helio Downtown is tipped to become the UAE’s next property hot spot. Huge capital growth forecast and the opportunity to flip the investment before completion of the development make this type of investment a sure fire winner.
This is the third and final part of our three part Ajman property market overview. In part one we looked at the high potential Ajman’s property market has right now. Then in part two we covered the recently updated Ajman property law, allowing overseas investors to buy freehold.
With rising interest from overseas investors, Ajman’s officials are investing a lot of effort and money into updating the current outdated infrastructure.
Last year some Dh 500 million (£70m) has been invested to update the road network, intersections, bridges and renovation costs. This year, the anticipated total of all the monies already spent for infrastructure totals some Dh 1.38 billion (£220m).
This doesn’t include the Ajman Marina which is estimated to cost $2 billion and expected to be completed in 2015. It will be home to some 21,000 residents offering freehold property ownership.
In part 1 of our Ajman mini series we provided a general Overview of the Ajman Property Market. We established the fact that Ajman is definitely one of the regions in the UAE to keep your eyes peeled on.
Today we will look at Ajman’s new property law to give you more insights into your investment opportunities. Since the property law has been modified to legalize freehold ownership in Ajman, the rules seem much clearer.
Back in May we posted an article about the Ajman property market and how things are heating up in this smallest of the seven UAE emirates. As it turns out, our hunch was correct. Ajman has since heated up considerably and with neighboring Dubai becoming more and more expensive and unaffordable for many, Ajman has been the emirate of choice for many investors and developers as of late.
Therefore we will cover the Ajman property market over a three part post series to give you information on investor strategies, property prices, infrastructure, the newly reformed Ajman property law and where all the action happens right now.
Solitaire Abu Dhabi offers investors a slice of UAE paradise. With ultra modern settings and features, Solitaire is the culmination of smart architectural design, quality and style.
Located in the Maysan district, Najmat Abu Dhabi, Al Reem Island, Solitaire is situated in close proximity to two 5-star hotels and the Marina Bay Apartments. Residents will be able to enjoy exquisite views of the cascading water features and greenery that connect the entire development. Investors can enjoy a world class lifestyle, all the while knowing that they have convenient access to the rest of the world.
Solitaire is an ultra-modern 35-story tower. The unique structure – the whole tower is made of pure glass – and concept of Solitaire allow for maximum streaming of light into the building, while spectacular views can be enjoyed all around.
Beautifully landscaped gardens provide a visual delight and further add to the superb lifestyle that is Al Reem Island.
The Concourse 2 Jumeirah Village is one of a new breed of developments, offering buyers a virtually self sufficient living complex that incorporates living, shopping, exercise, play and business.
The Concourse 2 is comprised of two elegant towers (Residence & Plaza towers), rising out of a 4-level podium. With the Residence tower offering stylish residential living, the Plaza tower offers a first class business office environment. The overall development showcases extraordinary convenience, speckled by elegance.
Palm Jumeirah Island
Is Dubai heading for a property melt down? Recent reports by Morgan Stanley and the WSJ suggest so but we think otherwise.
According to the WSJ, property flipping has not only become a sport of sorts for investors, but a very profitable one at that.
When the Emirate allowed foreign property ownership for the first time in 2002, real estate transactions were estimated to be around AED38.7 billion Dirhams. Last year, this figure rose to AED462 billion Dirhams which relates to US$125.8 billion roughly.
The RERA (Dubai’s Real Estate Regulatory Authority) is looking to crack down on the practice of property flipping in the emirate.
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