Tag Archives: real estate
Dubai Design District woos top brands
Dubai Design District woos top brands Amanda Fisher / 19 March 2014 Dubai Design District, whose first phase opens in Jan 2015, makes a presentation before international delegates. Less than a year away from opening the first phase of Dubai Design District, the city’s latest industry hub is on a charm offensive to woo international brands. Dozens of British designers and brand owners are in town this week, as part of an international United Kingdom Trade and Investment (UKTI) ‘GREAT’ campaign to further ties with key industries in eight countries around the world, including China and Hong Kong. The designers, who paid to be a part of the delegation in an effort to expand their business in the Middle East, had a presentation by Dubai Design District (d3) top brass, including managing director Lindsay Miller. This follows a delegation from Italy last week, while designers from Lebanon are set for similar treatment in the coming days. But the exercise is aimed equally at small-time start-up designers as the elite international fashion houses, with the Dh4-billion development expected to house 10,000 people in the first phase — which will see nine buildings open by January 2015. Women’s wear designer Cristina Sabaiduc is hoping to grow the eponymous boutique label that she launched 18 months ago. Currently based in London’s trendy Shoreditch area — aptly the district that d3 has taken inspiration from in its plans — Sabaiduc says she sees a market for her fashion in Dubai. “I focus on a lot of big shawls and scarves and beautiful silks, and I think there’s a lot of demand for that in the Middle East.” While she was not yet selling in this region, Sabaiduc said she was in talks with people in Dubai’s fashion industry. She said while d3 would not be the same as a design district like Shoreditch that evolved organically, if the development was done well it would thrive like other design hotspots of the world. “If you provide the right facilities and operations, there’s a hunger for it here and I think that will almost overtake the fact that it’s been created…it could definitely work.” D3’s tax-free benefits, which guarantee 50 years without needing to pay taxes, seemed to be the major attraction to others interested in branching out in the region. Lascivious lingerie creative director and founder Chloe Hamblen said the tax-free provisions drew the attention of most brands at the presentation — all of whom were looking to expand in the region. “The reason why we have taken the time to come out is because that’s what we’re aiming to do.” Others present said having the design, art, fashion and luxury sectors combined in one place — along with other services like marketing and PR — would be a draw card, while the tax-free provisions may be the impetus needed to take the risk. UKTI Retail Sector Specialist Fred Bassnett, who is leading delegates in the UKTI’s UAE campaign this week, told Khaleej Times the country was one of the top three markets for UK brands, along with the US and China/Hong Kong. “There’s only London in the world that has the selection of brands that we have. Here in Dubai it’s seen clearly by the UK industry…as a market that they want to be involved in because of the high profile and the actual spending profile of not only the local populace, but also the tourism populace.” He said initiatives like the UKTI’s were “hugely important” in helping the UK economy recover after taking a hammering during the global economic recession. But brands like Sabaiduc’s say they are worried about the costs involved being part of d3 and feel they may not have a space there. Subaiduc said in an ideal world, she’d be able to open a second office in d3, but it was more realistic her foray into the MENA market would initially be limited to exhibition spaces and fashion shows. “For small businesses, it’s a big gamble (to open an office overseas).” However, D3’s Miller says there is a place for designers of all sizes. “We do have specific start-up packages and we have facilities to consider all kinds of elements of the value chain.” While the bigger brands would likely be established in the exclusive real estate in d3, for example with waterfront views, there were offices of different sizes in different locations to suit varied budgets. She said there was also the option of sharing working spaces, facilities and equipment such as 3D printers with other companies. “It’s important for this zone to have all segments, not just luxury and not just emerging and we’ve reflected that in the pricing and the product design.” Miller said the reason d3 was targeting international brands was to engender “cross-pollination” of the kind that would lead to the creation of unique designs, as well as collaboration. “If we can bring all of this talent together, design at the end of the day is a suggestive product…it’s really about what the consumer appetite is for your product and that’s a lot about bringing different designer viewpoints together.” But courting international brands may also drive up competition for local designers wanting a presence there. While Miller would not reveal how much space had already been contracted to particular companies, she said there had been 550 different approaches in the six months since the initiative was announced. She said she expected to be at full capacity by early next year, around the launch date. amanda@khaleejtimes.com For more news from Khaleej Times, follow us on Facebook at facebook.com/khaleejtimes , and on Twitter at @khaleejtimes Continue reading
Man pays PRO for visa, spends one night in detention
Man pays PRO for visa, spends one night in detention Marie Nammour / 2 March 2014 Legally speaking, if you want a thing well done, do it yourself; never trust a person you hardly know with handling your sensitive documents. Take for instance the case of Samir (name changed), who took the easy way out to sponsor his 4-month-old daughter’s residence visa by seeking the services of a PRO. However, after making the due visa payments, instead of getting the visa, he found himself involved in a forgery case. Samir, 26, works as a manager in a real estate firm and lives in a hotel apartment. He told Khaleej Times that since the day he trusted the PRO with his daughter’s visa application, his life has taken a turn for the worse. Samir claims he paid the PRO Dh2,500 to have the visa issued and to cover expenses such as typing, medical fitness fees, Emirates ID fees, and other typing expenses. He went to the General Directorate of Residency and Foreigners Affairs (GDRFA) on November 20 last year to collect the visa. “He told me I need to go in person to collect the visa since I am the girl’s father.” To his surprise, he was apprehended by the Criminal Investigation Department (CID) officers and taken to Al Aweer Detention Centre where he spent one night. He was released on bail after depositing his passport. “I have been told at the Land Department that my Ejari certificate was forged. It bore a serial number that belongs to a tailor shop’s tenancy contract while its details are mine. The PRO forged it.” KT has learnt that the police are on the lookout for the PRO in connection with the case. “This whole thing happened when my daughter was only one-month old. Now she’s almost four-months old and I have not got the chance to hold her yet.” Samir said he loves Dubai and doesn’t want to be deported because of someone else’s wrongdoing. He submitted an authentic tenancy contract and was unaware the Ejari letter was forged, he claimed. His case is currently under investigation by the Naturalisation and Residency Prosecution. “I never told that man to forge any document for me. I paid him for his services and enclosed my application with authentic documents. I was not aware of what he did with it.” Legal procedure Hotel apartment residents should submit their tenancy documents at the GDRFA, as the Land Department in Dubai is no longer issuing tenancy contract registration certificates or Ejari letters in such cases. An Ejari customer service employee said that residents living in hotel apartments and wanting to sponsor a family member should submit their tenancy contracts, among other documents, for verification at the GDRFA. “We, in Ejari, register tenancy contracts for residents of residential flats when they apply for visas for a family member. As for the residents who live in hotel apartments they should submit their tenancy documents for verification at the GDRFA.” The applicant should also get a letter from the hotel stating that he is a tenant of a room at the hotel paying a specific annual rent. The letter should bear the hotel manager’s signature and be stamped with the hotel’s official seal, according to the Ejari employee. Earlier, Ali Humeid bin Khatem, the head of the Naturalisation and Residency Prosecution, in an interview with KT , urged all residents to refrain from forging and presenting forged tenancy contracts registration certificates because “they would be caught and be held legally accountable”. He advised the residents who want to sponsor their relatives to avoid fraudulent ways when applying for visas. “They should indeed have a rented flat or own property so that they could provide the required documents to be able to sponsor their relatives,” the Chief Prosecutor said. Thanks to the Ejari programme, he said, forgery cases are being easily detected and exposed. “The Ejari staff, available at the Residency and the Land departments as well as in several other branches across Dubai, are there to verify the authenticity of the tenancy contracts and then issue the visa applicants tenancy contract registration certificates.” Penalty for forgery According to article 217 of the Federal Penal Code, whoever forges an official document shall be sentenced to a period not exceeding five years in prison. According to article 121 of the Federal Penal Code, the courts, both Criminal and the Misdemeanours, may order the deportation of the accused, if found guilty, in forgery cases. mary@khaleejtimes.com For more news from Khaleej Times, follow us on Facebook at facebook.com/khaleejtimes , and on Twitter at @khaleejtimes Continue reading
Sharjah rents sizzle; Ajman, Ras Al Khaimah follow
Sharjah rents sizzle; Ajman, Ras Al Khaimah follow Issac John / 6 February 2014 Apartment rents in Sharjah jumped 33 per cent year-on-year while Ajman and Ras Al Khaimah witnessed respective 23 per cent and 18 per cent hikes in 2013. Despite a three-year freeze on hikes, residential rents recorded steep increases in Sharjah in 2013, in line with a general upswing felt across a resurgent UAE leasing market. A two-bedroom apartment at the Corniche now rents for up to Dh70,000. — KT file Apartment rents in Sharjah jumped 33 per cent year-on-year while Ajman and Ras Al Khaimah witnessed respective 23 per cent and 18 per cent hikes in 2013 amid vivid signs of a long-awaited resilience in the property sector, said analysts at Asteco, a real estate consultancy. “Our research shows that the rental law that was created to protect tenants from steep annual rent increases, is being circumvented by some landlords asking for additional fees for maintenance and extra parking spaces, to compensate for the three-year rent freeze stipulated in the rent law,” said John Stevens, managing director Asteco. In March 2013, the Sharjah Municipality warned landlords not to hike rents before the completion of three years in line with the tenancy law. In Sharjah’s popular Al Majaz, Al Qasimia, Al Nahda and Al Wahda areas, residential rents rose nearly 38 per cent in 2013, Asteco said. “Rental rates throughout Sharjah increased, on average, by eight per cent in the last quarter alone. A two-bedroom apartment in Corniche now rents for up to Dh70,000 per annum,” it said in a report. Ras Al Khaimah, Ajman and Fujairah also witnessed a fourth-quarter growth of up to six per cent. While the annual rent for a two-bedroom apartment in Ras Al Khaimah has gone up to Dh50,000 per annum, the cost of a similar property in either Fujairah or Ajman is up to Dh45,000. The steepest increases of 2013 were recorded in Dubai with rents on average surging to between 50 and 60 per cent across all residential apartments and villas. While Dubai’s apartment rents jumped by almost 50 per cent, villa rents rose by 20 per cent, Asteco said. Prices of Dubai property also rose by up to 60 per cent in prime residential developments, but current price level is still 21 per cent lower than 2008 peak, Asteco said. However, in 2014, Dubai is forecast to witness slower growth in residential rental rates with the addition of 25,000 new units. The International Monetary Fund, raising its 2014 economic growth forecast for the UAE to 4.5 per cent, has observed a steep recovery in 2013 in real estate sector, with home prices in Dubai having increased rapidly in some areas. Knight Frank said in its Prime Global Forecast that Dubai’s real estate market would be the world’s top performer in 2014, building on the previous year’s rapid price growth. It predicted a price growth of between 10 and 15 per cent this year in Dubai. In Abu Dhabi, prime residential rents rose on average by 17 per cent during 2013 amid an eight per cent surge in the last quarter, partly driven by the removal of the five per cent annual rent cap. According to Jones Lang LaSalle, property prices in Abu Dhabi rose by up to 25 per cent last year but the significant gains were limited to prime projects. issacjohn@khaleejtimes.com For more news from Khaleej Times, follow us on Facebook at facebook.com/khaleejtimes , and on Twitter at @khaleejtimes Continue reading




