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18 Gulf Property

DP: Reshaping Dubai’surban landscapeDP: Reshaping Dubai’surban landscape

They have projects invirtually every part ofDubai. And they aremarching forwardwith many more

grand developments. Withpremium residential andcommercial projects inJumeirah Beach Residence,Dubailand, Culture Villageand the Downtown, megareal estate developer Dubai

Properties today is not just abuilder but also a key con-tributor to Dubai’s economy.Dubai Properties is the

property development arm ofthe larger Dubai PropertiesGroup (DPG), part of theDubai Holding conglomerate.The developer constantly en-deavours to deliver projectsthat cater to all sections ofthe emirate’s expanding pop-ulace and contribute to theoverall growth of Dubai’s realestate market.The company is part of

Dubai Government’s visionto reshape the urban land-scape of the emirate as it at-

tracts foreign investment,businesses, professionalsand families - who needproper commercial, residen-tial and entertainment spaceto enjoy a quality life.Since its inception, the

company has developedsome of the most soughtafter destinations includingJumeirah Beach Resi-dences, Business Bay and acluster of theme parks underthe umbrella of Dubailand.In an exclusive interview

with Gulf Property, Mo-hammed Al Habbai, ChiefOfficer for Urban Planningand Infrastructure of Dubai

Properties Group, elaboratedon the company’s goals andstrategies, upcoming proj-ects and how his companyplans to contribute towardsthe overall progress of thereal estate sector in Dubai.Presently Dubai Properties

is engaged in developing agrowing portfolio of retail,commercial, residential andmixed-use projects to meetthe growing demand of realestate investors in the re-gion.“The year 2014 has been

quite good for Dubai andDubai Properties Group,”Habbai said with a smile.

By Indrajit SenSenior Reporter

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Bay. Designed by famedAmerican architects TVS De-sign, the luxury residentialproject would boast of aunique glass design and highquality finishing. The pilingand enabling contract beingawarded to engineering firmNSCC. Habbai said the con-struction will be done in justone phase and expects it tofinish in 2017.The two 27-storey towers

will have unit options includ-ing 1,2,3 and 4-bedroomapartments along with six ex-clusive penthouse suites withspacious layouts and pre-mium finishing. Residents

can also benefit from an inti-mate community feel withcommon lobby areas sharedby a maximum of four apart-ments per floor and a stun-ning 19th floor viewing bridgeoffering visual treats of thesurrounding skyscrapers.Maram Residence will in-

clude a business lounge, anindoor children’s play area,an outdoor children’s playand pool area, a state of theart gym and fitness area, ajogging track, a roof-top gar-den with seating areas andwater features, and an infin-ity pool deck at roof level witha lounge.

A vast landscaped outdoorterrace on the ground floor isalso planned for the residen-tial tower and will be com-plete with seating areas,water features and a varietyof community and retail out-lets for the convenience ofresidents.Dubai Properties has in-

vested a huge amount ofmore than Dh400 million intothe project to ensure thatbuyers are only deliveredsupreme quality in every re-spect. Yet according to Hab-bai the prices of units beginsfrom a modest Dh1.7 million.The pricing structure reflects

“The response from the mar-ket was very good and it wasvery successful for us.”

Living inDubai’s heartSpeaking of the premiumresidential projects DubaiProperties is developing,there is one that deservespraise. Being constructed in the

beating heart of Dubai,‘Maram Residences’ whencompleted will be minutesaway from the Burj Khalifaand overlooking Business

‘Dubai Wharf will bea sought-afteraddress in thehistoric Dubai Creekarea. The design,positioning andaccessibility of theproject will alsomake it one ofDubai’s futurelandmarks forleisure, dining andentertainment...’

– Mohammed AlHabbai

Mohammed Al Habbai, ChiefOfficer for Urban Planningand Infrastructure of DubaiProperties Group

An artist’s impression ofDubai Wharf, part of theCultural Village– a newmixes-use development

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the developer’s focus on af-fordable housing and proveshow socially obliged they areto cater to the mid-incomesegment of the market. Through Maram Resi-

dences, Dubai Propertiesseeks to offer its buyers thebest of an urban living expe-rience with a panoramic viewof one of the world’s iconicskylines. “Maram Residencewill cater to the increased de-mand for luxury residentialand commercial property instrategic locations acrossDubai, and we anticipate thatits launch will further supportthe development of Dubai bycatering to its growing popu-lation,” Habbai stated. Dubai Properties’ decision

to launch the project duringCityscape Global was strate-

gic. “The market was verypositive, it exceeded our ex-pectations,” he remarked.

EmbellishingCulture VillageAs part of their mix-usedportfolio, Dubai Properties isdeveloping a sprawling proj-ect named Dubai Wharf. Theproject is intended to be amodern development featur-ing a contemporary design inthe Culture Village district,overlooking a canal prome-nade adjacent to the historicDubai Creek. To be locatednear Al Jaddaf metro station,with easy access to Al KhailRoad, Business Bay cross-ing and Al Jaddaf Road,Habbai expects the project to

be ready by 2017.The mixed-use project fea-

tures four towers with 582residential units, approxi-mately 150 retail, dining andentertainment units on theground and first floors andover 2,000 resident and visi-tor car parking spaces atbasement level. There are multiple apart-

ments including 91 studios,147 1-bedroom, 276 2-bed-rooms, and 68 3-bedroomsunits, located in the secondto eighth floors. Pedestrianbridges over the canal offerfull connectivity throughoutall Culture Village structures,while three pedestrian pas-sages provide convenientseamless entry points toDubai Wharf, retail facilitiesand the canal promenade.

Tenants will also have exclu-sive access to residences. Dubai Properties has in-

vested Dh800 million in tothe project. Prices of residen-tial units begins from an af-fordable mark of Dh1.1million. “Dubai Wharf will bea sought-after address in thehistoric Dubai Creek area.The design, positioning andaccessibility of the projectwill also make it one ofDubai’s future landmarks forleisure, dining and entertain-ment,” Habbai commented.The contemporary archi-

tecture used throughoutDubai Wharf presents astone exterior with a largeproportion of glazing andwooden textured shadingused to soften the overalllook and feel while playing a

Dubai Wharf, part of theCultural Village, will createnew living and entertainmentspace on the bank of theDubai Creek

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functional role of the build-ing’s climate control. In line with the natural ebb

and flow of the Creek envi-ronment, two of the towersfeature eight floors while theremaining towers featureseven floors, presenting aridged impression from anaerial view. Unit interiors feature

deluxe finishing with highquality porcelain ceramictiles, wooden doors, andmarble and granite toppedwork surfaces and vanitycounters. The developer has laid em-

phasis on health amenitiesby making provisions for aswimming pool and anequipped gymnasium on thepodium level. The facilitiesoverlook the canal system

itive and promising. The mar-ket has regained the con-sumers’ confidence, becauseof the regulations imple-mented by the governmentand the Real Estate Regula-tory Agency (RERA) mainly.The response has been very,very positive,” Habbai confi-dently says.Given his optimistic views

on investors’ sentiment andthe market’s vigour, Habbaiis quick to quash the notionof a bubble in the market orpredictions of a repeat of the2008 recession, as baselessor unfounded fear. “The regulations by the au-

thorities, with regards totransparency issues such asescrow accounts, haveproven quite beneficial forboth the developers and theend-users,” he says. “Thatkeeps the balance in themarket.”Habbai also rejected pre-

dictions made by the mediareports that the housing mar-ket in Dubai underperformingand the sales of decreasing.“I wouldn’t say that the salesvolumes for villas have gonedown. If we look at our villaproject Mudon – a premierresidential project in Dubai-land – Phase 1 and Phase 2have been sold out. Hencewe are going to launchPhase 3 soon,” he stated.However Habbai admits

that the commercial sector inDubai has not been at parwith the residential. Sales ofoffice spaces have slumpedand the trend is not pleasant.Yet Habbai sees promise forthe commercial segment infuture. “In commercial, there is still

shortage in certain areas foroffice spaces, especially likein Tecom, Knowledge Villageand in Business Bay,” he

with green spaces created toensure a relaxed living expe-rience for inhabitants of eachof the four towers.Speaking highly of this

flagship project, Habbai said,“The project is a contempo-rary architecture which I amvery proud to present toDubai residents, local andforeign investors, and themillions of tourists which visitour city every year.”

Dubai marketDubai’s popular stature as aregional commercial hub andas a global financial andtourism destination has hada superb impact on the emi-rate’s real estate market. The metropolis has seen

massive relocation of individ-

uals and families from theUK, US, Europe, China, andAfrica, besides the long-standing migration from Indiaand other Asian nations,since the end of the reces-sion. New jobs are being cre-ated and trade in all sectorsis flourishing, mainly due toDubai’s investor-friendly poli-cies and the fact Dubai isone of the safest and prom-ising centres to do business. As a natural corollary, the

demand for housing and of-fices is only seeing an as-cent, thereby creating abright future for both buildersand buyers. That is some-thing Habbai’s Dubai Proper-ties would love to bank onand grow.“The Dubai real estate

market right now is very pos-

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concedes. “But the demandwill definitely be there, espe-cially with the movement ofnew companies and alsoExpo 2020. We can feel thedemand will rise, but obvi-ously the residential part willlead.”On a different frontier, the

Dubai market since the endof the recession period, haswelcomed multiple foreigndevelopers. Many suchrenowned builders fromIndia, China, Turkey, Egyptand many other Asian, Eu-ropean and Arab nations aresetting up camps in Dubai toattract investments for theirproject. This fact was recently

demonstrated by the healthyparticipation of myriad over-seas realtors and brokeragefirms in Cityscape Global.inmultiple property expos.However it can be saidthese foreign realtors whoare coming into Dubai aremostly entering the marketwith the sole aim of wooingclients from their respectivecountries to buy propertyback home. Thus, in this manner, isn’t

Dubai losing out on loads ofinvestors, who would haveotherwise bought propertyhere? Isn’t their influx achallenge to the localbuilders?“I would not say so be-

cause as you knowCityscape is a very impor-tant platform for the real es-tate industry within theregion and also importantfor other countries,” Habbaijustifies. “I think the marketis open to everyone and Idon’t think that is scaring. Itis a good opportunity forboth parties to collaborate.No, I would say it is a com-pliment to Dubai.”

Budgethousing Mid and low-income groupsin the UAE are expandingand will continue to expand,

given the steady flow ofexpat workers vis-à-visExpo 2020. These groups comprise

people who will naturally in-vest in low-cost housingprojects. Thus affordablehousing has gained im-mense importance and pop-ularity in the UAE, andbuilders developing low-costprojects have also earnedhealthy profits. The demand for premium

residential and commercialproperties remains high inDubai today. But in the longrun, winners will be thosewho reap the benefits fromdeveloping or trading in af-fordable projects, since the

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budget properties segmentis as promising as the elitesegment, and the former willonly grow further with a rap-idly increasing customerbase.Considering the changing

dynamics of Dubai’s prop-erty market, Habbai revealsDubai Properties has fine-tuned its strategy to tap intothis vast and promisingbudget properties segmentof the market, despite mostof their projects so far beinghigh-end and elite. “We have a vast portfolio

with projects like Remraamand Mudon. We are going tobuild about 30 buildings inRemraam in the next 3

years, due to high demandin this [affordable housing]sector,” he reveals. “So we at DP are not ig-

noring the sector. In fact, webelieve there is a healthymarket for the middle in-come class. Majority sayaround 45 per cent, will gofor middle income housing.The high-end market is onlyaround 15-20 per cent,”Habbai says.In fact Habbai says Dubai

Properties’ emphasis onbudget projects in spite ofbeing primarily a developerof luxury properties, differ-entiates them from the othergiants in the market today. “We at Dubai Properties

differentiate ourselves fromthe other developers inDubai, because we have alarge portfolio that includeslabour camps, self-accom-modation units, middle-in-come to the high-endhousing, retail as well as inthe hospitality sector,” heelaborates. “We cater tomarket needs.”Dubai Properties focusses

solely on delivering inte-grated, end-to-end projectdevelopment solutions, andthis strategy has led to theirsuccess. From design anddevelopment, to sales andhandovers, Dubai Proper-ties has been doing it all indetail. The developer has

dedicated departments han-dling sales, marketing, engi-neering and businessdevelopment. The companyfocusses on providing func-tional, sustainable and highquality solutions along withself-contained communaland convenient amenitiesfor end users. As part of its broader cor-

porate strategy, the devel-oper also works closely withleading construction compa-nies, architects and govern-ment entities to give animpetus to the real estatemarket. “The Dubai Proper-ties Group will always aimfor achieving goals forDubai,” Habbai affirms. g

Dubai Wharf will create a newwaterfront community indowntown Dubai