Vol:10 Mar/08

Dubai : Greater the supply – greater the demand

Dubai time and again is proving that there is a direct proportion between its property supply and demand. There are scores of property developments Dubai that will be delivered this year. We estimate over 50,000 new residential properties to be delivered in 2008.

A correction has been incorporated factoring in the demand for labor and material. The ever growing demand for space has ensured that despite the supply this year, property prices will still be north bound, projections are at 25% premium.

Dubai Property Delivery Estimates in 2008 *

Unlike 2007, the scheduled handovers for 2008 are spread over a broader spectrum of developments including 'Discovery Gardens', 'Jumeirah Village', 'Dubai Marina' and 'Dubailand'.

Delivery Estimates - Individual Developments across Dubai *



'Discovery Gardens', on Sheikh Zayed Road accounts for a record in property delivery that is estimated to be around 22000 individual residential units. These include studio, 1 and 2 bedroom apartments.

'Dubai Marina', home to some of the exclusive real estate brands and concepts in the world, is expected to deliver 10,000 individual residential units in 2008.

Properties within the master project 'Dubailand' are also expected to handover units this year. A major development within this sprawling development awaiting completion is 'Falcon City of Wonders'.

Nakheel's final batch of 'Shoreline Apartments' on 'Palm Jumeriah' was delivered in the opening week of this month.

List of properties in Dubai awaiting delivery in 2008

Property Location Completion Dubai Gate2 Jumeirah Lake Towers Jan-08 Al Seef 3 Jumeirah Lake Towers 2008 Saba Tower 2 Jumeirah Lake Towers Apr-08 Global Lake View Jumeirah Lake Towers Jun-08 Tamweel Tower Jumeirah Lake Towers Mar-08 Liwa Heights Jumeirah Lake Towers May-08 Jumeirah Park Villa Jumeirah Park Jun-08 The Links Greens Community Jun-08 Dubai Mall Hotel Downtown Burj Dubai Jun-08 The Burj Views Downtown Burj Dubai Aug-08 The Lofts Downtown Burj Dubai Dec-08 8 Boulevard Walk Downtown Burj Dubai May-08 Residences 2 Downtown Burj Dubai Ready South Ridge Downtown Burj Dubai Apr-08 Loft Tower Downtown Burj Dubai Jun-08 Liberty House DIFC Jul-08 Ritaj Dubai Investments Park Dec-08 Alvorada 1 Arabian Ranches Apr-08 Shoreline Apartments Palm Jumeirah March 08 Oceana Marina Palm Jumeirah Apr-08 Lake Hotel Old Town Aug-08 Discovery Gardens Discovery Gardens Jul-08 Beauport Marina Promenade Apr-08 Victory Heights Sports City Sep-08 The views Greens Community Jun-08 Marina Wharf 2 Dubai Marina Oct-08 DEC Tower Dubai Marina May-08 Quays West Dubai Marina Sep-08

Nakheel unveils master plan of Waterfront City on Dubai Waterfront   Nakheel has finally revealed the master plan for ‘ Waterfront City’, the vibrant centerpiece on 'Dubai Waterfront', the largest urban development project in the world. Located on the western shores of Dubai, the entire development will transform 1.4 billion sq ft of empty desert and sea into an international community that is twice the size of Hong Kong Island.   Dubai Waterfront in a nutshell To be developed by Nakheel Properties Located on the western shores of Dubai Covers 1.4 billion square feet To be home to ‘Waterfront City’, the world’s largest urban development project 'Waterfront City' to be split into 5 districts 'Waterfront City' is planned to become a lively city centre 24 hours a day for a predicted residential population of 92,000 and a working population of approximately 310,000 people. Covering a land area of more than 330 hectares in 'Dubai Waterfront', this real estate development comprises a central island surrounded by 4 neighboring districts, namely, the Boulevard, Madinat Al Soor, The Resort and The Marina.

* Figures are approximate values.

---

Watch this space next week as we explore the emerging real estate markets of Ajman and the Northern Emirates.