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Downtown Dubai Development High-rise developments including Sheikh Zayed Road, DIFC and Burj Dubai forming Dubai's new downtown and CBD



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Old August 26th, 2009, 11:37 PM   #681
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Some images of DIFC area from today.

























And behind really dirty windows from Dusit Hotel:

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Old August 29th, 2009, 02:35 AM   #682
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Please advise how to upload the pictures. Thanks.
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Old September 2nd, 2009, 08:33 PM   #683
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Interpretation of LIBOR in DIFC

I'm not clear about the jurisdiction of the DIFC courts when it comes to real estate in DIFC. The reason for asking is that RERA/Land Department is accepting a ludicrous interpretation of LIBOR for a developer operating in the DIFC.

Mad interpretation goes as follows:-

The LIBOR rate that applies to a debt is the 90 day Libor rate on the date that the debt is cleared, and that date of repayment is at the choice of the debtor.

This means that even if the debt has been outstanding throughout a period of high interest rates, if, on the date the debt is cleared, the Libor rate is much lower, then the interest on the entire period is at that lower interest rate.

If such an interpretation is allowed to stand then my guess is that DIFC will have no chance of succeeding in the international financial markets.

Any thoughts??
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Last edited by Flintbug; September 2nd, 2009 at 09:54 PM.
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Old September 4th, 2009, 06:30 AM   #684
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Very nice buildings. Dubai surprise me every day!!!
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Old September 4th, 2009, 03:13 PM   #685
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Quote:
Originally Posted by joed View Post
Very nice angle.
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Old September 16th, 2009, 01:19 PM   #686
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Does anybody have any images of the proposed 'retail spine' which runs above the 'service spine' through the DIFC area? I'm presuming it will be masterplanned to link up with all the building podiums? And will form a pedestrian route through the area? When is this likely to be finished?
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Old September 16th, 2009, 08:41 PM   #687
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It doesn't seams like any work is being done there at the moment.
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Old October 1st, 2009, 07:52 AM   #688
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Property prices near Metro start showing positive signs

October 01, 2009

Residential and commercial properties in the immediate vicinity of the Metro stations could see a potential uplift of 10 to 20 per cent, an international real estate advisory firm said yesterday.

"If the Metro proves popular and efficient then it is very likely we will see a significant impact on the values around stations. The early signs have been positive. We consider the potential uplift in the immediate vicinity of the Metro stations, that is less than 400 metres, could be in the region of 10 to 20 per cent for both residential and commercial uses, but this impact will not be even across the station network," said Andrew Edwards, Associate Director at DTZ in a report on the impact of the Dubai Metro on real estate values.

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The impact is also likely to be more significant at certain destinations such as Jumeirah Lake Towers (JLT) for residential and Dubai International Financial Centre (DIFC) for commercial. This is because there is a high concentration of residential use at JLT and commercial use at DIFC, which is likely to translate into a high level of trip generation..
.

http://www.business24-7.ae/Articles/...39f4de141.aspx
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Old October 18th, 2009, 08:49 PM   #689
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DIFC Oct 17th

file:///C:/Users/Jon%20Morrison/Desktop/IMG_1280.JPG
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Old October 19th, 2009, 06:54 AM   #690
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Rents decline 13% in Q3 – but DIFC bucks trend with 6% increase in three months

Office rents in Dubai have declined 13 per cent in the third quarter of 2009 compared to the previous quarter due to increased supply of office space in the emirate, said Asteco.

Only the Dubai International Financial Centre (DIFC) has seen a positive movement in office rentals marking an increase of about six per cent in the last one quarter, it added.

According to the latest third quarter report on Dubai real estate market by the Dubai-based property consultancy, the average office rental rates ranged around Dh350 per square feet per annum for private developments, while in DIFC the rental rates were about Dh500 per sq ft per annum in the third quarter of this year. "This is due to the fact that there are very few small units available as companies tend to lease long-term."

http://www.business24-7.ae/Articles/...640da8c9c.aspx
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Old October 20th, 2009, 06:40 PM   #691
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Quote:
Originally Posted by jondmorrison View Post
file:///C:/Users/Jon%20Morrison/Desktop/IMG_1280.JPG
Nice. But what you need to do, is go to http://imageshack.us , upload a picture there, and paste back here the links to the immage that appear after you do that.
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Old October 26th, 2009, 09:22 AM   #692
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I use tinypic.com,, quote an image to see the special code.
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Old October 27th, 2009, 10:22 PM   #693
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DIFC

Quote:
Originally Posted by Dubaiiscool:) View Post
Office rents in Dubai have declined 13 per cent in the third quarter of 2009 compared to the previous quarter due to increased supply of office space in the emirate, said Asteco.

Only the Dubai International Financial Centre (DIFC) has seen a positive movement in office rentals marking an increase of about six per cent in the last one quarter, it added.

According to the latest third quarter report on Dubai real estate market by the Dubai-based property consultancy, the average office rental rates ranged around Dh350 per square feet per annum for private developments, while in DIFC the rental rates were about Dh500 per sq ft per annum in the third quarter of this year. "This is due to the fact that there are very few small units available as companies tend to lease long-term."

http://www.business24-7.ae/Articles/...640da8c9c.aspx
I'm not surprised that the DIFC office rents are out performing commercial rents in any other district in Dubai. Quite apart from the capital value boost that will inevitably follow from the superb Dubai metro access the DIFC enjoys - I think this recent rental data confirms that the DIFC is THE optimal property investment project in Dubai - a view also advanced by 2dayDubai.com in their DIFC property investment review:

“A familiar refrain of developers in Dubai is that you have a historic opportunity of buying in early on a rapidly developing city.
Who would not have wanted to buy in on the evolving Mayfair or Wall Street 30 years ago?
But nowhere in Dubai is this value proposition more valid than in the DIFC - which is a rapidly evolving international financial centre - in a region bulging with wealth, and still in its first half decade of growth.
For this reason, combined with the exceptional intrinsic architectural and planning merits of the DIFC master project, an investment in one of the DIFC residential, commercial, or mixed use developments - is arguably a stake hold in the best investment locality in twenty first century Dubai.” http://www.2daydubai.com/pages/difc.php#H2

The only drawback with this project seems to be a DIFC Authority lease fee - a type of monopoly tax on rental income - which is providing the Authority with an unconscionable 20% cut on all DIFC rentals including renewals - which seems a hefty premium to what even the top international commercial leasing agents charge.

Hopefully - this will soon be reviewed and rendered more equitable - as it does not sit well with the Dubai Government's traditional commitment to free market principles - but until then this 20% revenue impost needs to be factored into any DIFC investment.

Regardless of this, the small 80 acre DIFC autonomous site can only take a limited number of office towers, so its space will attract an increasing premium in years to come as the DIFC continues to increase its regional stature,and so probably still represents the best commercial investment project in Dubai.
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Old October 29th, 2009, 08:20 AM   #694
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Thanks to Pentimo.com

A 360degree photo of DIFC.
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Old October 30th, 2009, 03:47 AM   #695
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Quote:
Originally Posted by Dubaiiscool:) View Post
Thanks to Pentimo.com

A 360degree photo of DIFC.
great very cool
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Old October 30th, 2009, 02:38 PM   #696
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30/October/2009

Sheikh Zayed Road and DIFC ,Dubai

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Old November 1st, 2009, 12:08 AM   #697
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Dubai moves up in global financial centre rankings

The latest edition of the Global Financial Centres Index, issued by the City of London Corporation, said Dubai has continued to consolidate its position moving up to the 21st position from the 23rd among the leading world financial centres as reported earlier in March 2009.

Bloomberg's own survey put Dubai on top. Five per cent of responsdents in the quarterly poll of investors, traders and analysts who subscribe to Bloomberg terminal said Dubai is the best place for financial services.

http://www.business24-7.ae/Articles/...d7a95073f.aspx
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Old November 20th, 2009, 08:18 PM   #698
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20/November/2009

Sheikh Zayed Road and DIFC







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Old January 29th, 2010, 06:54 PM   #699
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Does anyone know who the master developers of the DIFC area? Who is responsible for the retail spine link which connects all the building podiums together?

Its not progressing very well!!
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Old January 30th, 2010, 05:55 AM   #700
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Master developer is the DIFC, the retail area stopped in 2008, no progress there.
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