World's largest cultural centre in Dubai

The Sydney Opera house took 26 years to build. The London Theatre took centuries to evolve into what it is now. Dubai, however, plans to go one step more.

Plans have been revealed for the world's largest cultural centre in the Emirates. Billed as Dubai’s new cultural icon, master developer Emaar has unveiled detailed plans for the Opera District in Downtown Dubai, which, in four years’ time, will grow to become the world’s largest cultural centre.
Like to know more? Get ready to be surprised.

The 21,530 sq. ft. opera house, will seat 2,000 people and will be designed to look like a traditional Emirati dhow boat, which will sit at the heart of the Opera district. The boat takes inspiration from the traditional sailing vessels of the Arabian Gulf, the classic wooden dhows. The bow of the structure will contain Dubai Opera’s main stage, orchestra and seating areas, as well as the proposed sky garden and restaurants, while the elongated hull area will house waiting areas, taxi-drop off area, and parking.

The Opera District when completed will be a stylish, new, arts destination and Dubai cultural centre and hub of the region, bringing music and art to life. A ‘design masterpiece’, the district, accessed from Sheikh Mohammed Bin Rashid Boulevard, will be a new and exciting destination with its exclusively pedestrianized and animated streets.

The Opera District will feature the ultimate in super luxury, and have posh hotels. Dubai property – comprising of elegantly designed residential and serviced apartments, a retail plaza, restaurants, recreational spaces and parks.

But most importantly, it will be a distinguished by its unique mix of components that focus on the cultural and creative side of Dubai, including multiple venues for theatre, concerts, art exhibitions, orchestra, comedy and films and promote global arts exchange through visiting artists and performers as well as showcasing local talent. Art lovers will be glad to know that performances have already been scheduled, including Placido Domingo and The Nutcracker on Ice for ballet fans. Added feature include state-of-the-art audio-visual technology and support systems to ensure an unrivalled viewing experience.

The project will also comprise a modern art museum, restaurants and shops, and three residential towers. As for the Dubai property towers, to begin with, there's the 66-floor Opera Grand, which will feature 200 luxury apartments with a rooftop pool and sweeping views of Burj Lake and the city’s skyline. Opera Grand will offer the ultimate views of Burj Khalifa, The Dubai Fountain and Downtown Dubai. Residents will also enjoy privileged access to a vibrant arts scene and high quality entertainment, making Opera Grand the ultimate lifestyle destination. Other undisputed privileges include access to unique health club which is located over the retail podium, connected by an overhead link-bridge, a terrace and 2-storeys of shops, cafés and restaurants.

The second residential tower, the Forte, will have two towers of 71 floors and 41 floors. The third tower, The Address Residences Dubai Opera (the Tarbo) is also a twin tower condominium. The buildings are 55- and 65-floors high and will contain apartments and a luxury hotel and penthouses spanning more than 5,000 sq. ft.

And to top it all, The Opera District will be in close proximity to the Needle, which is slated to be the world’s tallest tower. The $1 billion tower will exceed the height of the 828 m Burj Khalifa. Designed by Spanish architects, Needle will feature a slender, streamlined structure with a needlepoint-like tip and green observation decks. It will also have glass balconies that rotate outside the wall of the tower, a luxury hotel and 18 to 20 floors of shops, restaurants and other tourist facilities. Construction of the new tower is expected to begin at the end of June, and be completed in time for Dubai World Expo in 2020.

Catch this marvellous centrepiece of Downtown Dubai soon!

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Dubai for commercial property investment

Buying and owning commercial property is not for the faint of heart.

Generally speaking, commercial property, and in particular Dubai commercial properties, are way more expensive than residential investments and also cost more to maintain. On the other hand, for those with the capital, Dubai commercial properties also pay far higher dividends than residential properties when leased or sold.

Key pro: Higher rents

As an owner of Dubai commercial properties, you can command higher rent from your tenant than if you were the landlord of a Dubai property for residential use. Why? Because such types of Dubai property are usually larger and often feature more resources than residential properties. Moreover, renters of Dubai commercial properties are usually businesses who can afford to pay more for their use than tenants of residential units.

Key con: Vulnerability

Commercial properties are more vulnerable to the twists and turns of the economy than residential properties. For instance, if there is a slowdown in the economy, businesses can go under, move out and stop paying rent, while tenants of residential properties will often stay in their apartments or villas to ensure continuity of factors such as schooling and employment. Moreover, while as a Dubai commercial property owner you will benefit from a boom economy, your property can become a liability when business slows down. Moreover, given that Dubai is a hub for multinational organisations, activity of firms in the city is intrinsically linked to how their businesses perform in their home markets.

The outlook for Dubai property and in particular, the commercial segment, for this year is that of stability. The upcoming Expo 2020, the ongoing expansion of Jebel Ali port and the activity at Al Maktoum International Airport are expected to inject momentum into the Dubai commercial property market. Further, the Dubai government’s plan to upgrade the city for the Expo 2020 through infrastructure spending and encouraging foreign investments in various sectors will provide support for the commercial segment over the next few years.

Given that business activity is likely to rise due to the above-mentioned factors, we may see rents of Dubai commercial properties rising from mid to late 2016. This upward trend will be driven by new demand which will be seen as plans for Dubai’s mega infrastructure projects designed to establish Dubai as a global business hub, are achieved.

For most investors, residential properties are much easier to understand than commercial properties. Not surprisingly so, as there are many unknowns with long-term commercial properties as lending policies can change, financing terms are different and vacancies can last a long time depending upon global economic fluctuations. However, the gains are also much higher. For one, rental yields are higher for such Dubai property and hence monthly cash flows much more than an equivalent costing residential property investment in the same area.

For the latest Dubai commercial property investments in the UAE, click here.

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Dubai real estate a dynamic investment sector

Dubai is world famous for its astonishing architectural structure and magnificent buildings. This city has few unique man made wonders of this world like only seven star hotel and a man made palm island that is even visible from space. State government has also worked out on complete strategic plan to build up this as one of the hot spot for business and finance as well as travel and tourism. This city also welcomes foreign investors to make investment in diverse business sectors including real estate business. Investors can enjoy tax free trade in free zone areas on different locations across the city. Real Estate Dubai has become a most profitable industry for local and foreign investors.

The main reason of earning significant profits via real estate Dubai is considerable rise in property demand. Dubai property is in high demand because huge number expatriates, tourists and travelers are considering Dubai as their destination. Such visitors need some accommodation place here to live or office space to establish their business. State Government has taken major step to revamp Dubai property laws and according to new property laws, forefingers are allowed to rent or purchase properties in Dubai. They can obtain any Dubai property as freehold or leasehold property.

Freehold properties offer sole ownership to foreign buyers, whereas leasehold properties provide ownership of any property for a fixed time period. Government also provides a three years renewable habitation visa to property owner. Foreign investors usually buy residential properties as freehold property whereas they prefer to get commercial property on lease. Real estate Dubai is one of the highly dynamic markets of world. Besides flexible Dubai property laws other factors that drives real estate Dubai a rapidly progressing industry is the billion dollar investment made by world renowned multinational corporate. This directly increases job opportunities that are open for candidates across the world. Plenty of job opportunities attract migrants across the world to avail job. This has resulted in increasing population of this city. The final effect of these changes in population will appear in the high demand of rental and self owned properties. Renting or purchasing property in asset market of this city is very easy and it requires minimum legal formalities. The whole process of Dubai property purchase or renting is very simple and hassle free. That’s why foreign investors enjoy investing in real estate Dubai.

Conclusion

These are the main reasons that make real estate Dubai a perfect, dynamic and hassle free real estate market in the world. Moreover, this city has maintained its image to buildup innovative records in construction sector. This is considered as most privileged real estate market in the entire world.

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Essentials of becoming real estate broker in Dubai

Being an important among the major investment sectors, real estate in Dubai does not only mean buying and renting residential and commercial properties in Dubai, rather it has got itself recognized as a key profession in Dubai. Professionals who are involved in property transactions are known as real estate agents or real estate brokers in Dubai. The organizations providing real estate and property management services are named as real estate consultancy firms and real estate property management firms. Having considered the complexity of asset transactions, buyers and tenants prefer taking help of professionals.

In order to become a professional broker in Dubai, interested individuals have to fulfill certain essential requirements. Following are the few essential and minimum requirements to become a professional in this field.

•    It is mandatory to get yourself registered with an authorized firm. Freelance practice has been banned in Dubai to avoid scams. Moreover, registration with RERA (Real Estate Regulatory Agency) is also an essential to become a licensed professional.

•    Established organization always considers hiring licensed brokers to maintain quality and reliability of services.

•    If it’s your dream to become a professional in this field, it will be good to focus on handling any specific sector among residential or commercial sectors. Try improving your profile for specific sector. This will benefit your career and enable you to earn the status of expert professional. It has also observed that property firms expect their brokers and agents to speak Arabic and English both. Proficiency in speaking English and Arabic matters a lot for successful closing of deals.

•    Another important area that every real estate broker will have to consider is to understand UAE property law. Agents possessing good knowledge and familiarity with laws can better help their clients.

•    Excellent research and market analysis skills are also required to work like an expert. Keep studying and researching about Dubai property market to understand latest market trends and asking prices for renting and buying in Dubai. If you are familiar with business trends of asset market, you will better help your client.

•    It is also necessary to understand the code of ethics of real estate sector which is based on honesty, trust, respect and integrity.

•     Wearing positive attitude is also important for success in career of real estate professionals. Serve your client with a smile and try to educate them about their decisions of buying and selling properties. Don’t enforce your decisions on clients, always value their desires. 


To become a qualified and professional real estate broker/agent in Dubai it is necessary to complete necessary career related certifications, licensing and courses. Besides this, keep yourself updated about recent changes in property laws and RERA policies to better guide your clients.

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Prospects of investing in Dubai Real Estate in year 2014

Market surveys showed that real estate sector of UAE had been showing great signs of recovery after increased foreign investments. Especially the two leading emirates Dubai and Abu Dhabi had played a great role in rebounding of property market. Record transactions had been observed in small duration of time during year 2013. A market survey conducted by Royal Institution of Chartered Surveyors (RICS) in 2013 listed UAE commercial property market on first position on Occupier Sentiment Index (OSI) whereas on second position on its Investment Sentiment Index (ISI).

Win of EXPO 2020 and City Momentum Index

After successful bid to host EXPO2020, city momentum index by Jones Lang LaSalle (JLL) listed Dubai on third position among 20 world’s dynamic cities. City Momentum Index (CMI) is the criteria which have been considered to rank cities. Occupying leading position in CMI’s list means Dubai possess strong short term socio-economic and commercial real estate momentum. After becoming the primary standard for calculating CMI, commercial real estate sector is not only considered as the outcome of city’s success rather it becomes driving factor, which has the ability to drive city towards success. 

Having considered the connectivity with other countries across the globe and emirate’s status of being the business and trade hub in the region of MENA enabled Dubai to become investment hotspot in Middle East. Moreover, the win of EXPO 2020 bid has greatly enhanced the confidence of city while improving city’s momentum towards success.  

Real Estate Transactions in year 2013

Dubai Land Department DLD has issued a report in the mid of January 2014 about total real estate transaction in Dubai for year 2013.  According to this report the total amount of land or property, sold or mortgaged has greatly increased from Dh 154 billion in 2012 to Dh236 billion in year 2013.  In terms of percentage the total rise in property transactions is 52%. Specifically for pieces of land total transactions have increased to 50 percent from Dh111bn in 2012 to Dh166bn 2013.  Secondly the total percentage transactions for complete apartments and villas have been raised to 52% with total amount of Dh62bn.

After considering this gigantic rise in property transactions in Dubai real estate sector, Knight Frank issued a report about Dubai property market and clearly mentioned that Dubai real estate is expected to be top performer on international level in year 2014 with asset price rise of 10 to 15 percent. Furthermore, DLD director General Sultan Butti bin Mejren has also estimated the percentage rise is asset prices of 35 to 40 per cent for year 2014.

Dubai has successfully gained the status of global gateway and trading hub on international levels. Being the magnet for foreign investors, Dubai business sector clustered top investors across the world. With progressing economy the emirate is capable to offer high class business and financial services for entrepreneurs. The positive market trends improve investor's confidence and they consider making investments in business and real estate sector in Dubai.

Angela Davis:

Angela Davis is a passionate and an experienced writer and social media consultant. She always try to produce unique and stimulating content for their valuable readers.

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Office Space in Dubai for your Small and Corporate Business

Every business venture needs an office space – whether it’s a start up or an expanding enterprise. Before you start looking for space, you should outline what you want you’re your business. If you’re just starting up and looking to keep costs down, then a virtual office will be most cost effective. Providing you with an office environment without having to lease office space, it offers you the advantage of a business address, infrastructure such as telephone, Internet and equipment. On the other hand, if you need a physical office space without the hassle of utility bills and office admin, then a serviced office is a good option. Giving you equipped space, it allows you to get your business up and running right away and upgrade as and when your business grows.

However, if you need a large office space in Dubai, then conventional offices spaces are the best option. Detail your requirement to make sure you locate the right Dubai commercial property. Ask yourself if you need individual offices or an open plan space. What meeting or pantry facilities will you need? Would you need parking for customers and staff? Finding the right office space in Dubai can have a huge impact on employee productivity and in turn the bottom line. As one of the world’s leading business hubs, Dubai offers small and big businesses a great selection of commercial real estate. With new businesses looking to establish a presence in Dubai and existing companies looking to expand their presence, Dubai commercial property is growing each day.

Dubai International Finance Centre, DIFC, is one of the world’s fastest and most attractive financial zones and home to some of the world’s biggest firms. Here are some of the best commercial real estate districts for established businesses and start ups. A prestigious address, DIFC offers some of the best office space in Dubai at Grade A towers such as Liberty House. Close to the metro, steps away from shops and restaurants and within easy access to Sheikh Zayed Road, DIFC offers commercial properties in Dubai that come with shell and core and fitted office spaces. Business Bay, an upcoming residential and commercial real estate cluster, is a visionary project featuring premium waterfront towers set amidst landscaped gardens and pristine surroundings. Some of the prominent towers in the community include The Prism and Al Manara. Offices are conveniently planned to suit the needs of modern businesses. Most towers offer state-of-the-art health clubs, gymnasiums, temperature-controlled pools and business centres. Another popular destination to explore commercial properties in Dubai is TECOM.

A free zone dedicated to information, communication, media and knowledge industries, TECOM is a vibrant district offering residential and fully equipped commercial office space in Dubai. Fitted to the highest standard, popular towers in TECOM include Grosvenor Business Tower and Executive Heights. Proximity to the metro and Sheikh Zayed Road add to the value of commercial real estate in TECOM. Dubai Marina is also a great location, given the competitive lease packages on Dubai commercial property on offer. Marina Plaza is a go-to address for Dubai commercial property in the Marina. One of the few commercial real estate buildings in the Marina, the tower offers fantastic views of the Marina and is located next to Marina Mall, just off Sheikh Zayed Road. Jebel Ali is another thriving commercial real estate community in Dubai. A port town known for its industries, Jebel Ali today is a much-sought after residential and commercial district. Home to 1000s of small, medium and big-level companies, Jebel Ali features magnificent high-rise residential apartments, luxury villas and penthouses alongside commercial properties in Dubai such as retail complexes, shopping malls and entertainment options. The Ibn Battuta Mall and the Emirates Golf Club are very close. The metro station is an added advantage, providing easy transportation services for residents and employees to various areas of Dubai. Buying or renting a space for your business is a huge decision, so consider the above before you zone in on a suitable Dubai commercial property.

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