Latest News

Sick building syndrome — don’t let your home make you ill

January 4, 2017 9:47 am

A healthy indoor environment can eliminate several issues related to “sick-building syndrome” and this is where all residents, as well as real estate developers, building managers and building occupants, play a big part. Given that more than 90 per cent of our time is spent inside one built environment or the other, architects, interior designers, contractors, operators and occupants can influence the delivery of healthy indoor environments.

Different strategies need to be deployed at different phases of the building design, development and life cycle, wherein a different stakeholder can ensure the relevant phase delivers healthy indoor environments. Abu Dhabi’s Estidama green building rating system and Dubai’s green building code assist greatly in achieving these goals.

Healthy indoor environments can be particularly challenging in centrally air-conditioned buildings and buildings with ducted air-conditioning systems. The first step is to ensure adequate fresh air is delivered after treatment for dust and particulates, temperature and humidity. Assuming the municipality’s design and construction guidelines help achieve these, the onus then shifts to the building managers and the occupants to ensure that the indoor environment remains healthy.

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More sub-Dh2m homes convince Dubai residents to buy

January 2, 2017 10:15 am

Dubai: Cost-conscious home buyers in Dubai better have their funds ready — homes under Dh2 million are not staying unsold for long. And in the home finding rush, former tenants are switching to becoming landlords.

And if rents in Dubai continue to remain stuck on a high without a clear rationale, it will only force more of them to finally take the plunge into home ownership … with a little help from banks. If that happens in high numbers, existing landlords will only have themselves to blame.

“There is an abundance of evidence that suggests greater home ownership levels — from rising mortgage purchases (up from 20 per cent of overall transactions in 2011 to 50 per cent in 2016) to lower resale stock in developed and developing communities,” said Sameer Lakhani, Managing Director at the advisory firm Global Capital Partners.

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Worst is over for UAE property market

December 31, 2016 4:30 am

Abu Dhabi: Increased jobs cuts across the UAE coupled with uncertainty in the macroeconomic environment were the main driving factors in the UAE’s property market in 2016, putting downward pressure on rents and sale prices.

In both Dubai and Abu Dhabi, sale prices and rents dropped in 2016, with prices in Dubai now around 15 per cent lower from their last peak, according to JLL, a property consultancy.

And while analysts expect to see further downside pressure in 2017, they believe the worst is over for the residential market.

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Property Weekly: Developer to build wellness homes

December 21, 2016 9:19 am

A new project in Dubai Healthcare City (DHCC) will bring the first wellness-inspired residences in the UAE, according to developer MAG Property development (MAG PD). MAG of Life Creek Resort, which will be part of phase two of DHCC, will incorporate health and wellness elements into residences utilising cutting-edge health technologies, processes and materials.

The project is the first in a partnership between MAG PD and Delos, a wellness real estate and technology firm. MAG PD said the first homes will be delivered within the next five years.

The wellness homes will feature advanced air and water filtration systems and lighting technologies that can help improve the mood, sleep patterns and overall health of residents. The homes are designed to enhance both physical and emotional well-being.

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Dubai Real Estate Surges, Abu Dhabi Takes a Step Back

December 20, 2016 9:35 am

The real estate markets of the two main emirates of the UAE exhibited differing trends over the course of November 2016. While the pleasant weather and cool breeze apparently had a galvanizing effect on the Dubai realty market, things seemed to be cooling down in neighbouring Abu Dhabi. noticed an upward movement of both rents and prices of apartments in Dubai, but apartments in Abu Dhabi underwent minor drops in both categories. The real estate market in Dubai has been buoyed by a spate of recent project launches by noted names in the industry, a development that has stirred up interest in the market once again. Abu Dhabi, on the other hand, has not seen similar activity, resulting in a more stable market.

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5 Trends that Could Shape the Real Estate Market in 2017 and Beyond

December 19, 2016 5:40 pm

Dubai: It has been a year of big shocks in 2016, with global economies being hit by several unexpected events: Brexit, Donald Trump winning the US election, and the Italian referendum.

While property market analysts attempt to make some sense of what has been a roller coaster year, – a leading Dubai real estate portal – offers five key trends which it believes will shape the real estate market in 2017, and in the years that follow.

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Dubai South to sustain a population of 1 million people and create 500,000 jobs

December 18, 2016 6:01 pm

The Dubai South project will sustain a population of a million people and is designed to create 500,000 jobs when completed, according to Khalifa Al Zaffin, Executive Chairman of Dubai Aviation City Corporation and Dubai South.

Al Zaffin, speaking at a ‘Meet the CEO’ event organised by the Government of Dubai Media Office (GDMO), said Dubai South is a purpose-built integrated urban destination, aimed at creating a vibrant economic platform that can support every conceivable business and industry.

Al Zaffin said Al Maktoum Airport will be the largest airport of its kind in the world following the completion of all the phases of the Dubai Aviation City project.

The airport will handle about 130 million passengers by 2025 given the state-of-the-art infrastructure it would be equipped with, which thereby will facilitate passenger traffic and cargo through two runways capable of handling Airbus A380 planes, he said. The airport will also have a passenger terminal capable of dealing with 130 million passengers and cargo terminal ready to handle 12 million tons annually.

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Dubai said to plan $36b spend on world’s top airport

December 16, 2016 11:00 am

Dubai aims to spend $35.7 billion (Dh131 billion) to develop its second airport and logistics hub in the south of the city and is likely to rely on debt for a significant part of the financing, two people with knowledge of the plan said.

The investments will be made in Dubai World Central and associated facilities, including Al Maktoum International Airport, over the next 12 years, the people said, asking not to be identified because the information isn’t public. The spending plan is outlined in documents inviting banks to bid for a $3 billion loan the government is seeking to raise for initial expansion, the people said. HSBC Holdings Plc is the financial adviser on the loan.

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Dubai developer brings in wellness into real estate

December 15, 2016 9:00 am

Dubai: You have heard of “smart homes” — now a Dubai developer is all set to lift the veil on “wellness real estate”.

MAG Property Development will launch a gated community on the Dubai Creek featuring build and lifestyle elements focused around the wellness theme.

That means residents will have constant access to cleaner air and water internally as well as other ergonomics arrangements, even extending to the lighting. For these support systems, MAG has aligned with New York-based consultancy Delos Signature.

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MAG Property Development Partners with Delos™ to Introduce New Wellness Single Family Homes in the Middle East

December 14, 2016 6:08 pm

Dubai (December 14, 2016) – MAG Property Development (MAG PD), the real estate development arm of MAG Group, today announced a partnership with pioneering wellness real estate and technology firm Delos™, to introduce to the UAE wellness inspired homes over the next five years. The first project to be carried out by the partnership will be the residences at “MAG of Life Creek Resort”, the world’s largest wellness concept in Dubai Healthcare City (DHCC) Phase 2.

Details were provided at a press briefing which was hosted by Moafaq Al Gaddah – Chairman of MAG Group, Talal Moafaq Al Gaddah – CEO of MAG PD and Alfredo Carvajal – President, Delos Signature.

The “MAG of Life Creek Resort” project will see MAG PD work with Delos to incorporate health and wellness elements into residences. The partnership also marks the official introduction of Delos’ science-based wellness technologies and solutions into the single family home market in the Middle East.

Spearheading MAG Group’s drive to be at the forefront of the real estate industry, MAG PD has identified the importance of health and well-being in homes. MAG PD CEO, Talal Moafaq Al Gaddah said: “The Delos partnership is a vital and important aspect of the MAG of Life™ Creek Resort project. The health and wellness innovations our organisations will introduce to the single family market together are unique and will help improve the health and wellness of people across the region. This partnership will bring added value to our projects, setting MAG PD aside from its competitors within the region’s real estate sector.”

Delos Founder and CEO Paul Scialla said: “MAG PD’s market-leading reputation and commitment to innovation and continuous improvement through its real estate offerings will provide long-term benefits to both customers and investors throughout the region. We look forward to working together to introduce Delos’ solutions to enable residents across the UAE to experience a state-of-the-art, wellness-curated and nourishing living environment, embedded in quality resident health and wellness.”

The wellness-inspired residences will be designed and engineered to enhance both physical and emotional well-being, through proprietary and patented evidence-based wellness integrations that utilise cutting edge health technologies, processes and materials. Technologies and other elements to be offered in the new line of homes include advanced air and water filtration systems and innovative lighting technologies, designed to help improve the mood, sleep patterns, and overall health of residents.

MAG PD’s new strategy responds to the increased consumer focus on health and wellness and the fact that people spend up to 90% of their time indoors. The MAG PD analysis indicates that the global growth of health and wellness market consumer healthcare is $502 billion. The market is forecast to grow by almost 50% to $737 billion over the next five years.

The company recently launched its new division, MAG of Life™ in response to market demand, which focuses on the quality of air, light, and ergonomics in the built environment. MAG PD has identified these elements as essential for improving quality of life, and effective delivery of them as the future of residential property. The MAG of Life Creek Resort project is the first of many to be announced in the coming months.

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