#PROJECT: THE PALM JUMEIRAH

[Number 49]

A recovery in the property market in Dubai is just around the corner according to the latest report into the emirate’s real estate sector.
It is experiencing strong interest from buyers in good quality, well positioned and well designed properties, according to the the report from surveyors and valuers Cluttons which has had a presence in the Middle East since 1976.
The report points out that the International Monetary Fund is predicting GDP growth of 3.3% for 2011, and 3.8% for 2012 and market demand is now originating from variables associated with an established marketplace.
The report also says that residential property in desirable areas has fared well over the summer, with average villa sales growth of 0.7% and even the development market shows signs of coming out of hibernation.
The early part of the year was characterised by uncertainty and unrest both within the region and overseas, but Cluttons notes that Dubai is now showing signs of optimistic improvement.
The Dubai Chamber of Commerce and Industry predicts that Dubai’s economic rate could accelerate to 6% next year, fuelled by trade, tourism and the logistics sectors, which have posted strong growth figures for 2011.
Cluttons notes that the residential real estate sector seems to be developing with a return to the optimism of June and July of this year. Cluttons has noticed that finish, location, amenities and a sense of community are now far more prevalent in buyer’s minds compared to those purchasing property three or four years ago.
Although the less desirable locations are still experiencing the effects of the supply demand gap with 10,000 to 15,000 new units expected to be delivered this year, Cluttons notes that residential properties found in more desirable areas have seen sustained values and in some cases growth.
This has seen a marked interest in residential locations such as the Palm Jumeirah, Meadows, Springs, and Arabian Ranches, which have seen value growth of around 1% since the second quarter of the year. This trend to desirable location villas has been mirrored in the leasing market, with Cluttons seeing a gain of villa rents across all areas of Dubai of 0.7%.
In contrast, apartment rents in most locations have dropped 2.5% compared to the second quarter.
Moving into the final quarter of 2011, the Dubai real estate sector can expect more astute investors and tenants, not only looking for good location sites, but quality and fine detail, according to the report.
The development market is also showing signs of revival, as those holding well located and structured land banks and developments are now considering their options to develop out, and or extend existing projects

[tiny]

Originally Posted by berny

Temporary access cards will be launched 1st December 2011. After that date access to the clubs will only be granted to the card holders. Guests entereing the beach clubs will be charged for a day pass.
Does anybody know the rates?

Ok I am a little confused about the charging for the beach clubs as far as I am aware we already pay for beach club use within our annual fees so I assume there will now be no annual charge within fees but a new nakheel charge-is that correct? So what is the difference?

[I Know]

Originally Posted by tiny

Ok I am a little confused about the charging for the beach clubs as far as I am aware we already pay for beach club use within our annual fees so I assume there will now be no annual charge within fees but a new nakheel charge-is that correct? So what is the difference?

you will have to pay again by the looks of things

[Imre]

Thi is a great photo:



Al Fursan and PDF France fly over the Palm Jumeirah.

Image Credit: Supplied by Katsuhiko Tokunaga

More here:

http://gulfnews.com/business/aviatio...force-1.932721

[maltster]

Originally Posted by tiny

Ok I am a little confused about the charging for the beach clubs as far as I am aware we already pay for beach club use within our annual fees so I assume there will now be no annual charge within fees but a new nakheel charge-is that correct? So what is the difference?

thats how I understand it; the beachclub charges will no longer be included in annual service fees. We can now choose to pay the new Nakheel fee or not. If not then you don't get the smartcard and no access to beach or club.

The major difference is allowing club membership to non-residents so it loses that exclusivity I suppose. On the other hand, there have been continuous complaints about non-residents just being able to walk onto the beach and into beachclubs completely unchallenged by security etc. Dont know if thats still a problem but this might put a stop to freeloaders.

[maltster]

out of interest, has any work actually started on the park yet? Supposed to have commenced in October was it not??

[The Coop]

Originally Posted by maltster

out of interest, has any work actually started on the park yet? Supposed to have commenced in October was it not??

Presumably then the tenant has a choice to use beach club facilities or not. landlord will be no longer paying fees as part of normal service charges ?
The park is progressing slowly with Palm Trees being planted and levelling in prep for landscaping. Still cant get hold of design images. can anyone help here ?

[I Know]

Originally Posted by berny

Temporary access cards will be launched 1st December 2011. After that date access to the clubs will only be granted to the card holders. Guests entereing the beach clubs will be charged for a day pass.
Does anybody know the rates?

Nakheel plans to charge residents AED5,000 a year to access Shoreline’s facilities, and to open up membership to non-tenants at a cost of AED12,000.

http://www.arabianbusiness.com/nakhe...ml?tab=Article

[I Know]

A few other articles here regarding the beach issue

http://www.arabianbusiness.com/palm-...ts-429996.html

http://my.telegraph.co.uk/expat/anna...ch-club-blues/

[maltster]

Originally Posted by The Coop

Presumably then the tenant has a choice to use beach club facilities or not. landlord will be no longer paying fees as part of normal service charges ?
The park is progressing slowly with Palm Trees being planted and levelling in prep for landscaping. Still cant get hold of design images. can anyone help here ?

Hi Coop, thought you'd moved out of your place?

Take a look at post 6636 (12th Oct). Thats the only picture I've seen of the park design and you can't really make much out except for the carpark where the Trump tower plot is.

[Imre]

20/November/2011

View from Palm Jumeirah palace, unfortunatelly I cant post interior photos..

[Baptiste]

Thank Imre for these beautiful pictures! What palace is it?

[I Know]

All are nice pics, but this one is super

[seagulls]

Originally Posted by maltster

out of interest, has any work actually started on the park yet? Supposed to have commenced in October was it not??

the park is coming along, palm trees have been put up on either side of the running track and its all been flattened out well. Really hope waitrose and the rest of the shops are allowed to open straight away? not sure when it will be completed. My guess will be march but who knows?

[Richard Head]

Palm trees on the Trump plot today and lots of levelling work going on. So good to see some action, it's been a looooong time coming.

[Salty]

Originally Posted by Richard Head

Palm trees on the Trump plot today and lots of levelling work going on. So good to see some action, it's been a looooong time coming.

Thanks for the update Richard (and Seagulls).

Do these Palm trees on the Trump plot mean that the idea of making the Trump plot a car park may not be going ahead (please let it be so)?

I was thinking of suggesting that if they want a car park there they should build it underground. I've been told that there is the mother of all obstructions under there though. What would that be then? ...

[Face81]

No satellite dishes or hanging clothes either; Authority launches campaign to reclaim 'overall aesthetics of emirate'

Published Tuesday, November 22, 2011

Stop those barbecue parties on your balconies now, or you will be slapped with a fine. And the same goes for those who have satellite dishes or hang clothes on their balconies.

The rules will apply to all communities under Trakhees, the organisational arm of Ports, Customs and Free Zone Corporation.

This includes freehold areas like Palm Jumeirah, Jumeriah Islands, Jumeirah Lake Towers, International City and Discovery Gardens.

Trakhees has launched a campaign to stop residents from misusing their balconies and damaging the façade of buildings.

According to the authority’s Community Conformance Division (CCD), Department of Planning & Development, residents have been asked not to fix satellite dishes on the facades or balconies of their buildings; not to use balconies as places of storage for any purpose other than seasonal furniture pieces; not to hang sheets, clothes or curtains or rugs or mops or laundry on balconies or railings of homes and not to have barbecues in their balconies.

The company said the aim of the campaign is to preserve the upscale appearance, which is characteristic of Dubai by reducing the “off-putting” appearances, which adversely impact the overall aesthetics of the emirate.

“To ensure the commitment of residents in adhering to rules and regulations applicable within its jurisdiction, CCD has undertaken a comprehensive community-based awareness campaign among all users of these complexes which includes a range of awareness-raising posters and brochures in five languages: Arabic, English, Hindi, Urdu, and Chinese,” it said.

Although no details have been shared on the fine against each offence, Emirates 24/7 understands that inspectors will be frequently visiting the freehold areas, informing the residents to adhere to the policies and not to misuse their property.

Those to fail to follow the rule despite warnings will be issued fines.

On November 15, this website had reported that tenants breaching the occupancy limit regulation set up Trakhees can face fines of up to Dh50,000.

The maximum allowable occupancy limit for apartments is one person per 200 square feet from the total property area.

http://www.emirates247.com/news/insp...11-22-1.429572



Cue the grumbling.....

[seagulls]

Originally Posted by Salty

Thanks for the update Richard (and Seagulls).

Do these Palm trees on the Trump plot mean that the idea of making the Trump plot a car park may not be going ahead (please let it be so)?

I was thinking of suggesting that if they want a car park there they should build it underground. I've been told that there is the mother of all obstructions under there though. What would that be then? ...

no, the palm trees run either side of the station . There is plenty of room for the car parks going in there, and pretty sure that will happen. Just happy it looks like its all going ahead.

[The Coop]

Originally Posted by maltster

Hi Coop, thought you'd moved out of your place?

Take a look at post 6636 (12th Oct). Thats the only picture I've seen of the park design and you can't really make much out except for the carpark where the Trump tower plot is.

Out in Dubai on a brief business trip. Was there yesterday and saw the work to date. Palm Trees and ground levelling... but I think March completion is optimistic. It is slow progress to date and I reckon more like back end of 2012. But who really knows..... ?

[I Know]

This is just the start of the whole beach issue

Nakheel is legally permitted to privatise the beach clubs on its flagship development Palm Jumeirah, and doesn’t expect tenants to be happy with its decision, its chairman said.

“There is no issue with that, people want something which they are not entitled to,” he said.

“I cannot make everybody happy. They should read their contract. We checked legally, we went to RERA

http://www.arabianbusiness.com/nakhe...n--431452.html

Some comments posted online by users in relation to this article-

Posted by: His Excellency Dr Paul Wednesday, 23 November 2011 5:27 PM[UAE] - Dubai, UAE

Of course it's legal.... but in most other countries it wouldn't be.

Dubai property has a rather poor reputation for delivering what was promised, and this kind of 'bait and switch' in such a high-profile location is going to do nothing to improve it.


Posted by: Joe Vagabond Wednesday, 23 November 2011 5:26 PM[UAE] - UAE

Lootah said he did not see the move damaging Nakheel?s reputation internationally.

what he probably meant was that it could not do more damage to Nakheel?s reputation internationally.