United Arab Emirates
Palm Jumeirah villa sold for Dh280m
Published
3 years agoon
A new 10-bedroom custom-built villa on the Palm Jumeirah has been sold for a record Dh280 million in Dubai, the emirate where records are broken almost every other day.
The stylish contemporary white villa features an enormous 33,000sq ft, state-of-the-art living space, seven-star spa hotel facilities (including a gym and a hair salon), and imported and handpicked book-matched Italian marble. The property is furnished by uber-lux Italian furniture houses Giorgetti and Minotti and boasts more than 70 metres of private beachfront.
While the details of the exact date of the deal being sealed in ink are unknown yet, the development comes in the first week since the first quarter of 2022 closed on a very strong note.
According to a Kingsley Properties report, quoting Dubai Land Department figures, property sales hit the 22.55 billion mark in transaction volume for the month of March 2022, almost two years since the start to the Covid19 pandemic.
Among a total of 172 localities that witnessed buying in off-plan and completed properties last month, Palm Jumeirah led the pile with the most concentrated interest among buyers.
Real estate platform propertymonitor.com verified that the sale of this Palm Jumeirah villa sets a new record for the highest value residential villa sale in Dubai.
“To see a transaction of this magnitude illustrates the ongoing strength of Dubai’s property market, particularly in the ultra-high-end segment. The transaction not only beats Dubai’s previous record but closes the gap between Dubai’s luxury market and those of leading global cities such as London, New York, and Hong Kong,” said Zhann Jochinke, chief operating officer of Property Monitor.
Visa reforms, rising population, market situations worldwide and changing geopolitics leading the world’s rich and famous to head to Dubai are some of the reasons cited by the Kingsley report as reasons for the upward trajectory in Dubai’s real estate.
The luxury property market in the emirate had also witnessed steady growth in 2021 with prices increasing an estimated 21 per cent within the first 10 months of the year and over Dh135 billion worth of transactions occurring between January and November 2021.
Palm Jumeirah has always been at the forefront among upscale communities in Dubai, with one triplex penthouse selling for Dh180 million in 2021.
According to a Berkshire Hathway survey of property professionals in the region last month, nearly 80 percent are confident that the trend will continue to grow for the rest of the year.
The Dh280m villa deal only goes on to confirm that.
Announcements
Sheikh Mohammed approves Dh3.7bn five-year plan for Dubai’s internal roads
Published
2 weeks agoon
November 10, 2024His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai has approved the five-year plan for internal roads (2025-2029). The plan encompasses 21 projects spreading across 12 residential, commercial, and industrial areas, with a total of 634 km of new roads costing Dh 3.7 billion. This plan reflects His Highness’s keenness to uplift the infrastructure in residential and industrial areas, aligning with Dubai’s population growth and urban expansion, and fostering the well-being and happiness of residents.
His Excellency Mattar Al Tayer, Director General, Chairman of the Board of Executive Directors, Roads and Transport Authority, stated, “The Five-Year Internal Roads Development Plan covers 12 areas with urbanisation rates ranging from 30% to 80%. In 2025, internal roads will be constructed in Nad El Sheba 3 and Al Amardi, serving Mohammed bin Rashid Housing Establishment project, which includes 482 housing units. Additional internal roads will be developed in Hatta, also serving a Mohammed bin Rashid Housing Establishment project with 100 housing units. In 2026, RTA will construct 92 km of internal roads in Nadd Hessa, and Al Awir 1. The year 2027 will see the development of 45 km of roads in Al Athbah, Mushrif, and Hatta, along with 14 km of roads in Warsan 3 (Industrial Area).
“In 2028, one of the longest internal road projects, extending over 284 km, will be constructed across three communities: Al Awir 1, Wadi Al Amardi, and Hind 3. This includes 221 km of roads in Al Awir 1, 22 km of roads in Wadi Al Amardi, and 41 km of roads in Hind 3. The project construction momentum will continue in 2029, with 200 km of internal roads to be constructed in Hind 4 and Al Yalayis 5, comprising 39 km in Hind 4 and 161 km in Al Yalayis 5,” explained Al Tayer.
Al Tayer further added, “RTA is committed to ensuring smooth and safe access for residents and visitors to their respective areas. By the end of last year, the total length of roads completed in residential and industrial areas reached 6000 km. Between 2011 and the end of last year, internal roads in 28 residential and industrial areas had been paved. In 2023 and 2024, RTA constructed internal roads totalling 83 km in 17 areas, completing road projects in Al Warqa 4, Al Qusais Industrial, Margham, Lehbab, Al Lisaili, and Hatta (Suhaila, Saeir, and Al Salami). Road works are ongoing in Jebel Ali Industrial, Nazwa, the Tolerance District in Al Khawaneej 2, Al Warqa, Nad Al Sheba 1, and Al Awir.”
Event
Magic Torque fires MRM, Al Mazrouei in season-opening DIEC ride
Published
2 weeks agoon
November 10, 2024The 2024/25 Dubai Endurance Season got underway at Dubai International Endurance City with a healthy dose of excitement as MRM Stables became the first unit to strike when claiming the campaignopening Seeh Al Salam Endurance Challenge by a mere second courtesy of star rider Saif Ahmed Al Mazrouei, who delivered aboard Magic Glenn Torque.
Organised by Dubai Equestrian Club, the 119km four loop ride witnessed stiff competition from all the major stables involved in endurance riding in the UAE, with a total of 119 rider-horse pairings venturing into the sands of the Al Marmoom Conservation Reserve.
And it was Al Mazrouei and his 13yearold companion who won with a consistent approach that witnessed them stay close to the top of an evolving leaderboard. The pair posted a time of four hours, 12 minutes and 16 seconds (4:12:16), which was a mere second quicker than the 4:12:17 recorded by F3-1 Stables pair of Hamad Humaid Al Tamimi and 765 Sargon, even as third placed F3 Stables pair of Rashed Mohammed
Al Mehairi and A’Bandom’s Rockabilly cantered in third a further 26 seconds behind in 4:12:43. Al Mazrouei started the day in seventh, 20 seconds off the pace set by Al Tamimi, who was quickest over the 40-km first loop, but was dethroned from the summit during the course of the 32km second loop by his MRM teammate Mansour Al Faresi, riding Tatarinu, the latter erasing a massive 2min21sec deficit and climbing into top spot from 25th. Al Faresi seemed to have control going into the 20km final loop after holding on to the summit at the end of the third spanning 27km. However, with plenty of reserve left in Magic Glenn Torque’s tank, Al Mazrouei, third at the end of the penultimate loop, was able to rev up his mount significantly and went from 26.99kph over the third to 34.4kph over the fourth, which guaranteed him success despite a hard push from Al Tamimi, who made his bid for success from fourth. Al Mehairi finished a comfortable third.
Meanwhile, Zabeel 2 Stables clinched victory in the Al Wasl Endurance Cup for Private Stables after Ebrahim Fayed Al Shamsi’s nervewracking success in the 101km contest aboard Bobang Al Andalus. The pair completed the four loop ride in a time of 3:30:46, denying Al Ain Endurance Stables’, represented by Uruguayan Federico Ferber and his mount HC Nael, by fractions of a second. Zabeel 3’s Saeed Ghanim Al Marri took third aboard Woodbourne Wednesday. Board Member and General Manager of Dubai Equestrian Club, Major General Dr. Mohammed Essa Al Adhab, presented the winners with their trophies. “It was a very good effort from all of the stables to have their horses and riders ready for a very exciting finish on the opening day of the season,” commented Dr Al Adhab.
“We have a long season ahead of us, but that finish to the first ride shows, it is going to be a very exciting season and we wish all of those involved all the very best for what lies ahead.”
The season at Dubai International Endurance City includes a series of top rides with its worldrenowned HH Sheikh Mohammed bin Rashid Al Maktoum Endurance Festival and the Crown Prince of Dubai Endurance Festival, the two showpiece events on its calendar.
Announcements
Adventure alert: Hatta unveils UAE’s longest mountain trails
Published
3 months agoon
August 24, 2024By
SudhashreeDubai Municipality has completed the development of the UAE’s longest mountain trails, which features 21 cycling routes spanning 53 kilometres, 17 walking trails across 33 kilometres, 9 wooden bridges and 14 rest stops and service facilities.
The Hatta Mountain Trails are one of various projects being implemented by Dubai Municipality to establish Hatta as a leading tourist destination in the region.
The trails are divided into four colour-coded levels of difficulty: Green – with four tracks for cycling and four for walking; Blue – with six tracks for cycling and three for walking; Red – with eight routes for cycling and six for walking; and finally, Black – with three trails for cycling and four for walking.
During the project’s first phase, Dubai Municipality implemented a comprehensive development plan in a record time of 10 months. This involved the expansion and maintenance of existing hiking and mountain bike trails and stabilising the soil in areas to improve the experience for visitors using the trails.
Comprehensive maintenance was also carried out on all existing bridges, with damaged ones replaced.
The second phase included constructing rest stops and service facilities along trails and other locations and installing 176 signposts and 650 directional signs to help cyclists enjoy a safe and distinctive experience on the Hatta Mountain Trails.
The Hatta Mountain Trails pass through a variety of different terrains and landscapes, including rocky paths, mountainous areas, rugged peaks and valleys, offering panoramic views and the opportunity for outdoor enthusiasts of all abilities to enjoy Hatta’s unique natural beauty.