OFFICIAL MAGAZINE

OF REAL ESTATE REGULATORY AGENCY

MANAGING EDITOR
K Raveendran ravi@sterlingp.ae

MANAGING DIRECTOR
Sankaranarayanan sankar@sterlingp.ae

GENERAL MANAGER
Radhika Natu radhika@sterlingp.ae

EDITOR
Linda Benbow linda@sterlingp.ae

Contributing Editors Message from the CEO

Vanit Sethi vanit@sterlingp.ae
Manju Ramanan manju@sterlingp.ae

Creative Director
Better supply management
Harikumar PB harikumarpb@gmail.com I view the merger of Emaar Properties with the Dubai Holding entities of Dubai
Properties, Sama Dubai and Tatweer as the best thing that could have happened
Designer
to the Dubai real estate sector. The merger will surely lead to significant synergies
Ujwala Ranade ujjwalaranade@yahoo.com among the activities of the companies concerned, with the post-merger outfit
enjoying the strengths and clout of a much bigger entity. But from my point of view,
Sales and Marketing
the most critical advantage that it provides to the sector is the ability to influence
Product Manager and manage supplies to the market. The consolidation will provide for better supply
Vijayan G vijay@sterlingp.ae planning so that the city does not witness any unregulated growth in the real estate
sector, which has been the case in the past.
Accounts & Administration Emaar and Dubai Properties are estimated to be in a position to release a total
Biju Varghese biju@sterlingp.ae number of over 5,800 new units to the market during 2009 out of a total supply of
over 9600 units, with Nakheel accounting for over 3,800 properties, which means
Emaar and Dubai Properties account for 60 per cent of the market supply.
Circulation Supervisors
Ibrahim A. Hameed In 2010, supplies from the combined entity are estimated to come down to a little
Saleem K U over 55 per cent of the total, although the total supplies to the market are set to
more than double. Out of the 19,610 new units expected to be released to the
market in 2010, the share of Emaar and Dubai Properties is projected to be 10,810
units, with another 8,800 properties coming from Nakheel.
Printing The consolidation of the sector will provide developers the opportunity to
Asiatic Printing Press L.L.C., PB 3522, better manage supplies so that the new additions to the market do not lead to
Ajman, UAE. Tel. 06 743 4221, any oversupply, which could exert downward pressure on prices and the overall
www.asiaticpress.com, sentiment in the Dubai real estate sector.
email: asiatic@eim.ae
We in RERA have all along been stressing that there was need for a consolidation
Distribution: Tawseel PB No 500666
among the city’s developers so as to allow for better planning and control of all
Dubai, UAE. Tel: (+971 4) 342 1512
aspects of the market. The merger of Emaar and Dubai Holding companies is a
Sultanate of Oman: Al-Atta’a major move in this direction.
Distribution Est., Kuwait: The Kuwaiti
Group for Publishing & Distribution
Co.Bahrain: Al Hilal Corporation,
Eng. Marwan Bin Ghalita
Qatar: Dar Al-Thaqafah, Saudi Arabia: CEO, Real Estate Regulatory Agency
Saudi Distribution Company

RERA neither takes Sterling Publications FZ LLC Loft Office 2, G 01, Dubai Media City
responsibility nor accredits any P.O. Box 500595, Dubai, UAE. Tel. +971 4 3678061 + 971 4 367 2245, Fax +971 4 367 8613
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 C
O
N
T
E 3
4
Branch Office
News
RERA office at Emaar Business Park
Evaluations
N 9 Statistics June figures

T 6 Taqyeem
Rules for Valuers

S 10 Discussion Believing in the Dubai brand

12 Profile Royal Institution of Chartered Surveyors
14 MTA Restoring confidence in the market Financing options
17 Comments Auction results
Middle income housing segment
Investing for the long term
You snooze you lose
Local tales
7 Personality Human resources are your winners
Mohammed Rashid bin Serdah 23 Facilities & Services Facilities management in demand
Energy reduction
27 Handovers A set of keys
DUBAI REAL TIMES

28 Infrastructure Water and wastewater treatment

30 Dubai Focus A defiant mood
36 Community Events The meaning of CSR
37 Well Done Who’s Who of real estate lawyers
42 Developers List of Developers
2 48 Law & Regulations Questions & Answers

Branching out
By Linda Benbow
W
ith the amount of
sales that Emaar
Properties have man-
aged to gain over the
past number of years it made sense
for them to try and tackle the mat-
ter of registrations of documents at
the Land Department in a way that
was simple and convenient for the
customer, the government body
and the developer. That is why a
branch of the Land Department was
successfully set up in 2007 within
the Emaar Business Park on Sheikh
Zayed Road, on the ground floor
of Building One (the building near-
est the new villas near Emirates Golf
Club).
The private, transparent offices
are manned by trained Land De-
partment staff from the Strategic &
Excellence Department – Customer
Care. Recently, the staff here were
joined by RERA’s Sheikh Juma bin
Thani Al Maktoum, Head of Trust
Account, who is now also heading
this facility. The Department of Real
Estate Development Guarantee Ac-
counts is one of RERA’s most criti-
cal departments, with the power to
enforce Law No (8/2007) covering
guarantee accounts of real estate
developments. It is the responsibil-
ity of the department to:
• Issue an executive bylaw consis-
tent with law
• Create and update developers’
registry
• Create and update trustees’ reg-
istry
• Approve real estate projects
• Administer trust accounts
• Control accounts financially and
technically
Among the departments achieve-
ments are:
1. Issuing the executive regulation
which amends Law No (8/2007)
that covers guarantee accounts
COVER STORY
of real estate developments
2. Restructuring and revamping
real estate registry
3. Launching electronic system for
developers and projects’ registry
4. Restructuring and revamping ac-
counts trustees’ registry
5. Adopting new mechanism for
real estate developers’ registra-
tion
6. Issuing accredited and authentic
financial data and reports on de-
velopers and their projects
7. Fees-setting and collecting
charges from real estate devel-
opers
Abdullah Mohd Mohd Saleh,
Senior Officer – Customer Care, ex-
plained some of the activities that
take place at the branch office in the
Emaar building.
“We are here for the customer; to
serve people,” he explained with a Sheikh Juma bin Thani Al Maktoum
smile. “We check that all their papers
are in order, that nothing is missing. charges, security, charges for the lifts office and sign all papers together.
We explain exactly what is needed and other facilities. All the details of sales transac-
to register their properties, and how “All the papers are then given to tions are entered onto the computer
to go about it. When everything is us. We check that all monies have that is linked directly to the Land De-
complete, we do all the necessary been paid and finalised. We check partment, and then a final Title Deed
registering and issue an ownership that the documents state the correct is given to Emaar, who will give it to
document.” address of the property and project their customer.
There are no big queues at this name, its size and how, much has “We are here to register transac-
cool and quiet office, which is ap- been paid for it, the buyers name and tions and update our database.”
preciated by most customers. There his nationality and passport number There is also a vice versa deal
have been other branch offices in and municipality number. We then with Emaar Properties having a rep-
the past, one at Tecom, which is now give the buyer a reference number resentative on the ground floor of
defunct as the bulk of all registrations that he can quote in future corre- the Land Department building, near
have been completed. Another pre- spondence.” the creek, for those who want to re-
vious branch was opened, and is now In the case of a mortgaged Emaar register their properties, mainly as
DUBAI REAL TIMES
closed, at Dubai Holdings building. property, both buyer and bank rep- second sale, or re-sale of their villa or
Once a property has been built resentative should go to the branch apartment.
and handed over to the buyer, he
makes sure that it is acceptable and
signs for it and then goes to Emaar
who issues a No Objection Certifi- “We are here for the customer; to serve
cate (NOC). This NOC ensures that
people,” Abdullah Mohd Mohd Saleh
both developer and customer are
fully knowledgeable about all rel- 3
evant matters such as management
 RERA NEWS
Valuation rules
R
ERA has made an important
accomplishment in unify-
ing the real estate evalua-
tion reports, licensing and
qualifying real estate valuers and
evaluation companies in Dubai. The
Agency has been setting qualifica-
tions for companies and individuals
to enable them to obtain a real es-
tate valuer license.
All real estate evaluation com-
Yousif Al Hashmi
Dubai plans to simplify
property contracts
DUBAI REAL TIMES
D
ubai plans to introduce a
simplified contract that
would become the norm
for all property purchases in the
emirate. The standard contract,
which has been drawn up by the
Land Department and awaits
4 approval, will clearly set out terms
for both buyers and sellers, said
Mahmoud Hesham Al Burai
panies were invited to a meeting
where Marwan bin Ghalita, CEO
of RERA and Mahmoud Hesham
Al Burai, Director of the Real Estate
Sector Development Department,
discussed with them the challenges
that real estate evaluation in Dubai
is facing and the current situation of
this market.
Marwan bin Ghalita assured them
that the agency is providing the sec-
tor with all the information neces-
sary to increase transparency and
Emmad Eldin Farouq, Senior Legal
Advisor at the department.
“In any contract, there is a
chance a developer can add to it
because different developments
have different rules and regulations
but the basic contract will stay the
same,” Mohammad Sultan Thani,
Assistant Director-General of the
be effective in the regulation sys-
tem. Mahmoud Al Burai explained
that all the evaluation reports in
Dubai Land Department are coming
from evaluation of lands, buildings,
apartments, villas, commercial and
residential complexes, industrial fa-
cilities and hotels. He added that the
most important criteria of evaluat-
ing any property is to study supply,
demand, prices in the market, speci-
fications, age and the location of the
building .
Land department, said.
Dubai’s Real Estate Regulatory
Agency (RERA) and the Land
Department are working hard
to make the property sector
more watertight but insist that
there must be a large onus on
the buyer to read contracts in
full. During Dubai’s boom times,
He also said that qualifications,
practice and experience are very
important in the process of licensing
real estate valuers; and that by RERA
cooperating with RICS and many
other high level international asso-
ciations, this will help to increase the
level of practice to the best interna-
tional levels. He added that there
will be a code of ethics, records and
procedures that will be required to
be followed by all valuers. Existing
valuers have discussed their ideas, as
well as given their opinions, in regu-
lating this activity.
Banks and financial institutes will
be one of the most interested sec-
tors in this activity as they depend
on valuations to deal with real estate
financing such as mortgages and
loans.
Yousif Al Hashmi, Director of
Real Estate Licensing Department
assured all that his department is
preparing new conditions and re-
quirements for getting the licence.
He warned against people who
represent themselves as real estate
valuers while only having a broker-
age licence.
many investors came swarming
to Dubai just to buy property and
paid less attention to contracts
than they would in more mature
markets.
“Any contract should be
very clear and we need to make
sure people read the contracts
carefully,” stated Thani.
Index to put school rents on level playing
field launched by KHDA and Rera
A
rental index for schools and
other education centres in
Dubai is to be developed
following the signing of an agree-
ment by the Knowledge and Human
Development Authority (KHDA) and
the Real Estate Regulatory Agency
(RERA). The unified index will es-
tablish appropriate levels of rent for
different areas with a view to achiev-
ing stability in the rental market for
public, as well as private, educational
buildings.
At present, rents for adjacent
schools can vary significantly, which
in the case of private schools has a
knock-on effect on the level of tu-
ition fees.
The new scheme, which will
involve the development of long-
term rental contracts, is intended to
smooth out such disparities and in-
consistencies.
The authority believes the unified
index will assist private schools and
investors and support them in con-
fronting unjustified rent increases.
The scheme is also intended to ben-
The unified index will
establish appropriate
levels of rent for
different areas with
a view to achieving
stability in the rental
market for public,
as well as private,
educational buildings
efit parents.
The KHDA will contribute to the
rent regulation and contract reg-
istration processes and in addition
identify rented units and determine
their usage, the facilities attached
to them and the clauses and condi-
tions of rental contracts.
The agreement covers universi-
ties and training institutions as well
as schools. 72 per cent of the total
number of private schools in Dubai
have rental agreements, which is
103 out of 144 schools.

Sultan Butti Bin Mijrin, Director General of Land Department received Mr. Ali Bin
Abdullah Al-Abbas, Director General of Internal Trade, the Ministry of Commerce
His Highness Sheikh Mohammed Bin Khalifa Al Maktoum, Chairman of Dubai and Industry Saudi Arabia as the head of a delegation that included a number of
Land Department, received certificates on behalf of the government body for ISO Saudi businessmen, to become acquainted with laws and legislation governing
14001:2001 and OHSAS 18001:2007. the real estate sector in Dubai and in particular the escrow account and mecha-
ISO 14001 is a standard aiming to reduce the environmental footprint of a business nisms for organising and managing this account.
and to decrease the pollution and waste a business produces. OHSAS 18001 is
an ‘Occupational Health and Safety Management Systems Specification’ which
covers issues such as planning for hazard identification, risk assessment/control, of Partnerships, Dubai Municipal-
OHS management, awareness and competence, training, communication, ity, reviewed the accomplishments of
emergency preparedness and response, performance measuring and administrative excellence award win-
improvement. ners which foster and encourage the
Sultan Butti bin Mijrin, Director General of Land Department described the importance of excellence among all
certificates as a positive step towards action to upgrade and improve the staff, and then was astounded to win
environmental performance and health and occupational safety of employees an award himself. He explained that
as well as reflecting positively on the security and safety of workers. achieving excellence is not difficult
Mohammed Hamad Al Mehri, Chairman of the Group Environment, Health and as long as there is a genuine desire
Safety Service noted that “The Land Department is committed to all international and determination from within the
and domestic legislation in this area and related activities and operations.” staff member. He revealed secrets of
success and excellence in his career
through plans and objectives, person-
Dubai Land Department hosted a gov- al commitment, responsibility and the
ernment departments award ceremony
DUBAI REAL TIMES

pursuit of excellence, which earned

in partnership with Dubai Municipality him an honour in the Dubai Govern-
recently. Ahmed Al Shehhi, Director ment Excellence for 2008 programme.

Juma bin Humaidan, Deputy

Director General, Land
Land Department received a delegation from Dubai Police in the context Department, congratulated
of strengthening partnership and cooperation between various depart- Masoud Rashidi and commended
ments and state institutions to develop government services. The visit her on winning a bronze medal
was to identify, review and share experiences particularly with regard to for fourth position at the new
service and customer care. The meeting was attended by Khamis Al Mu-
hairi, Director of the Department of Customer Service; and Mohamed
athletics race held at Bundesliga, 5
Germany in early July.
Oe, Deputy Director of Strategic Management and Excellence
 TAQYEEM
Real estate valuation
By Mouaiad Al-Omari, Edited by Mohamad Khodr Al Dah
R
eal estate valuation (REV) is
considered the cornerstone
of the real estate sector, and
one of the important fac-
tors that affect the lives of individu-
als, as well as the economy. Lending,
borrowing, buying, selling, investing
and real estate acquisition decisions
depend directly on the value of the
property.
The Concept of Real Estate
Real estate means the land and ev-
erything that is attached to it, such
as buildings. Legally, real estate
means the land and anything affixed
to it and cannot be moved without
damage or change to its structure.
So, land covers not only the surface
soil, but also every natural connec-
Fig. 1
Sky
Boundaries
Centre of Earth
tion to it (except water which is gov-
erned by special laws) like trees; and
DUBAI REAL TIMES
any improvements such as all kinds
of construction below or above the
surface. Land ownership, according
to the theory of the inverted pyra-
mid or the carrot (Fig. 1), contains
not only the surface, but extending
from the centre of the earth to spec-
ified limits and signs on the surface,
6 with the exception of the natural
deposits such as oil, gold, and other
valuable minerals etc., to the infinite
sky, with some limitations in relation
to the height of structures.
The Concept of the Value
The capitalist economy is based on
the price mechanism. This means
that there is a price for everything
and there is no economic activ-
ity without a price. This means that
money evaluation cannot be known
without having a price to know
this value, and the value cannot be
known without evaluating things.
Thus, the price is the standard that
defines the value of things.
From the capitalist point of view,
the price mechanism is the fair way
for distributing goods and services.
For example, there are only a finite
number of houses in the world, so
Land Surface
who has the price of the house
can afford to own the house. The
same meaning can be applied to
cars, milk, bread, and so on. Based
on this, there is a need to convert
everything to money to facilitate
owning it. Hence, the basis of real
estate valuation is to convert the
property to a financial number (the
value), to form the capital which is
the main engine in the process of
economic development.
The real estate value depends on
various factors such as area, location,
type, use of property, title of owner-
ship, size, condition, and legal status
in terms of transfer of ownership,
market conditions, supply, demand
and many other data for an accurate
appraisal of the property. This value
is the opinion of an independent,
experienced, educated, professional,
honest, trustworthy expert who fol-
lows scientific principles and varied
professional methods to approach
the property value-whether the land
is vacant or built-up.
Real Estate Valuation
Real estate valuation forms the basis
for almost all activities relating to the
land surface, and is one of the main-
stays of the real estate market, in ad-
dition to land surveying, land regis-
BIOGRAPHICAL NOTES
Mouaiad Al-Omari
Born in 1963; obtained his diplo-
ma degree in 1982 as Eng.-As-
sistant in Surveying; obtained a
bachelor degree in 1996 in Busi-
ness Administration and Com-
puter Science from Yarmouk Uni-
tration, and land use. It is the process
that provides the indicator to land
and improvements value. Hence, the
failure or mistake in real estate valua-
tion in terms of the ability to reflect
the reliable value of the property in
a way that is appropriate for accurate
decision-making can result in serious
risks. Therefore, real estate valuations
in the absence of supervision by
competent authorities, and depend-
ing on non-specialists who imple-
ment wrong valuation methods can
result in wrong values. This will cause
turbulence in the property market
(e.g. banks, investors, and customers)
and will adversely affect the national
economy and will ultimately affect
the global economy. The worldwide
economic crisis that happened in the
second half of 2007, starting with the
United States, is a clear example.
versity, Jordan; obtained a master
degree in 2005 in Land Manage-
ment and Land Tenure, from
Technical University of Munchen,
Germany.
Until 2005 he was a Property
Valuer in the Department of Lands
and Survey in Jordan, then a Head
of Real Estate Appraisal Director-
ate in the same department until
2007. Since 2007 until now he is
preparing for a PhD in Real Estate
Valuation at Oxford Brookes Uni-
versity in the UK under the super-
vision of Dr. Peter Dent and Mr.
Richard Grover. Since 2009 until
now he is the Project Manager
of Real Estate Appraisal Centre in
Dubai Land Department / Real Es-
tate Regulatory Agency (RERA).

Traditional meets modern man
By Amal Abdul Rahim Al Sahlawi
I
f true leadership is a faith, dedi-
cation and lifestyle, then a man
doesn’t need a very high posi-
tion to become a distinguished
leader in his professional team. This
theory may be applied very well to
Mohammed Rashid bin Serdah, Di-
rector of the CEO’s office at RERA.
He can be considered as a unique
personality in whom traditions meet
modernity. The story of Mohammed
Rashid takes many different turns
beginning with his bedouin lifestyle
and the change he added to his life
by working at the Land Department
and then RERA, as well as his unique
outlook on life and its ethics.
Mohammed Rashid graduated
from Dubai College of Higher Tech-
nology with a diploma in Business
Administration, however he did not
put this degree to use until 2004.
Prior to this, Mohammed Rashid
remained free from work, spend-
ing most of his time in the desert
practicing his favourite hobbies of
falconry and shooting. He joined
the Land Department in 2004 as a
secretary for the deputy Director
General, then as the secretary for
the Director of Technical Affairs. He
ended up working in the compen-
sation department. In this team he
proved his loyalty, dedication and he
gained the trust, as well as apprecia-
tion, of his bosses resulting in many
offers for him to progress upwards.
However, Mohammed Rashid’s pas-
sion for working with Eng. Marwan
bin Ghalita, RERA CEO, based on the
respect and equality with which Eng.
Bin Ghalita treats all of his employ-
ees, kept him as his office manager
despite the fact that this kept him
on a lower pay scale. His experience
Mohammed Rashid bin Serdah
with Eng. Bin Ghalita has made his
personality richer with knowledge,
expertise and refining his people
skills.
He began working as Director of
the CEO’s office in 2008, being ex-
tremely busy setting the foundation
for RERA, a new establishment that
required much attention and care.
Then he received the Unknown Sol-
dier Award from the Dubai Govern-
ment Excellence programme which
was predictable considering his
valuable contributions to the Land
Department.
His work as the director of the
CEO’s office involves following up
with the CEO’s directions and their
execution, communicating with
other departments, and coordinat-
ing between these departments
and the CEO’s office. Mohammed
adds that working in this position
requires a very trustworthy and re-
liable individual because you deal
with many sensitive and important
issues.
His belief in RERA’s role in regu-
lating the real estate market, pro-
tecting investors’ rights, and his be-
lief in the team’s ability makes him
proud to be a part of this agency
that works along with other gov-
ernment bodies to improve Dubai
and its image. He admits that the
government work has changed his
vision of Dubai and made him un-
derstand what a lot of hard work
lies beneath Dubai’s accomplish-
ments.
Asking him about his strengths
and weaknesses, Mohammed
Rashid said he is quick to act and
make decisions; and, by asking the
people who work with him, we dis-
covered a very high class individual
PERSONALITY
who has a strong work ethic with
a concentration on honesty and
trustworthiness for colleagues and
friends.
The desert takes up much of Mo-
hammed Rashid’s time; he is a good
shooter, he hunts with falcons, likes
camel races, farming and taking
care of camels. As well, Moham-
med Rashid loves sailing. He loves
to read about history and be reli-
giously educated, spend time with
his wife and children who are very
understanding of his work schedule
and provide him with stability at
home. He gives credit of his great
personality to his mother and father
who raised him in the many beauti-
ful Arabic traditions with the Islamic
religion and good ethics too. He
considers raising children by be-
ing a good example to be the best
means of parenthood. He is always
a friend to his son and daughter.
Mohammed Rashid doesn’t be-
lieve in having one idol. He thinks
that a man should take the best in
everybody and he should become
an idol himself, to force his good
personality on people and to see
God in everything that he does. He
who does this does not need to look
for an idol in another man. The last
word, for his colleagues in RERA, are
to cooperate and to complement
DUBAI REAL TIMES
each other because every member
in this family completes the other
– and we are all here to serve the
community that we are a part of. If
we can no longer do this, we should
leave our place in this house for one
who deserves it. Of course there
will be more another day about this
amazing man that has a lot of wis- 7
dom, is humble and dedicated.
 STATISTICS

Transactions during June 2009

The total value of real estate transactions in Dubai during June 2009 was Dh13 billion
Land Flat Villa
Total number of Transaction 895 2545 203
Total value AED 8,905m 2,448m 361m
Total Area(sq.ft) 12,842,000 70,955,000 641,000

N
1000
ad Al Sheba had the highest number of land transactions with 221
sales completed. The total number of mortgage transactions was 844 Total Number of Flat Sales
265 with a total value of Dh2,525million for 4,782,000 square feet.
Of these Arabian Ranches had the highest number of mortgages
800 Transaction
with 32 such transactions taking place for accommodation there.
The total number of sales of apartments was 2,309 with a total value of 600 540
Dh2,113million for 2,412,000 square feet. Jebel Ali had the highest number of
these sales with 844 transactions taking place.
Villa sales included a total of 146 mortgage transactions with a total value 400

283

250 196
200 168 162
221
84

200 28
2 2

Total Number of Land Sales 0

Jebal Ali Warsan Dubai Emirates Emirates Sheikh Palm Al Suooh Trade Motor

150
Transaction Top 10 First Marina Hills
Second
Hills
First
Sayed
Road
jumeirah Third certre
second
city

100 80 of Dh274million for

86 72

70 Total Number of Villa 458,000 square feet.

Emirates Hills had the
53
43 60 Sales Transactions
50 38 36 highest number of sales
19 17 17 13
50
with 72 transactions
40

0
40 taking place valued
Nad Al Jebal Arabian Emirates Emirates palm Bu Emirates Mirdif Al Kiran First
30 26
at Dh98million for
Sheba Ali Ranches Hills Hills Jumeirah Kandra Hills
Third First Secound
20
209,000 square feet.
During the second
10
35
5
2 1
week in June the
32
0
Emirates Hills Arabian Emirates Hills Dubai marina Motor City Sheikh Sayed Road biggest area sold was
30 29 Total Number of Land Mortgage Third Ranches Second
the 65,849 square feet
Transactions Top 10 98

Total Value of Villa

100
DUBAI REAL TIMES

25
22 in the Sheikh Zayed
20 Road area, which went 80 74 74
Sales Transactions
17
for Dh88.9million. A (Million, AED)
15
52,366 square feet 60

11 11
10 10 10
9
plot in the Mirdif
10
Area was acquired 40

5 for Dh13million,
18
while 38,068 square 20

0
Arabian Emirates Aud Al Aud Al Al Barsha Al Warqa Al Al Qouz Emirates Al Barsha
feet at Al Khabeesi 6 5
9
Ranches Hills
Third
Muteena Muteena
First second
South
First
Third Khawaneej Second
First
Hills
Second
South
Second
was disposed of for 0
Emirates Hills ThirdArabian Ranches
Emirates Hills SecondDubai marina Motor City Sheikh Sayed Road

Dh17.13million.
 DISCUSSION

Let’s believe in the Dubai brand

Investors await confidence boost prior to revival

F
urther real estate legisla-
tion, greater transparency
and more accurate and
timely market information
are required to rebuild confidence
in Dubai’s real estate market and
stimulate investment. These were
the conclusions from the expert
panel at the third Cityscape Con-
nect Business Breakfast, which at-
tracted nearly 200 senior real estate
industry players in early July.
Cityscape Connect is the not-
for-profit initiative from global real
estate event and business infor-
mation company Cityscape. It is
designed to stimulate networking
and information sharing and acts
as a year-round platform to discuss
business-critical issues in the real (left to right) Heather Wipperman, CEO of Investment Boutique; Markus Giebel, CEO of Deyaar; Ian Ohan, Head of
estate industry. Investment Transactions at Jones Lang LaSalle; Duane Keighran, Deputy Head of Real Estate, MENA region, at Simmons
“Sentiment drives markets, and & Simmons and Marwan Shehadeh, Managing Director of Al Futtaim Capital
sentiment is important to the re-
covery of Dubai’s real estate mar- gies. reliable and timely statistics to be
ket,” explained Ian Ohan, Head of The issue is risk aversion. Inves- made available. She suggested that
Investment Transactions at Jones tors are worried about risk. We need Banks are unwilling Dubai’s developers, brokers and
Lang LaSalle and moderator of the the banks to invest once again and mortgage banks pool their data
panel discussion. the funds to employ money. But to lend money to to create one independent central
The global economic downturn there is no clarity of the future, so
real estate investors source of real estate statistics to
has dented investor confidence. liquidity will remain on the sidelines increase transparency, and there-
Banks are unwilling to lend money until confidence returns,’ explained and developers, fore confidence and credibility, in
to real estate investors and devel- Marwan Shehadeh, Managing Di- Dubai’s real estate market.
opers, concerned at the likelihood rector of Al Futtaim Capital. “‘Real
concerned at the Improving real estate legalisa-
of defaults, while investors worry estate is about supply and demand. likelihood of defaults, tion will also increase transparency
DUBAI REAL TIMES

about falling values and the abil-
ity to let commercial or residential
buildings.
As a result, banks and investors
have become very cautious with
many preferring not to invest, de-
spite having available funds. Those
that do invest focus on secure in-
10 come producing assets rather than
seeking high risk-high return strate-
People are only willing to invest
where they see a clear shortage in
supply. In Morocco and Egypt, for
instance, there is a shortage of mid-
dle income housing. But in Dubai
there is a lack of clarity regarding
supply and demand in the real es-
tate market.’
Heather Wipperman, CEO of In-
vestment Boutique called for more
while investors worry
about falling values
and the ability to
let commercial or
residential buildings
and increase confidence, added
Duane Keighran, Deputy Head of
Real Estate, MENA region, at Sim-
mons & Simmons. “Dubai needs to
import best practice from maturer
countries. For instance, it is difficult
to get a judgement on a real estate
court case. Nor can you do a real
time search to find out who owns
land. Such changes will add trans-
parency and attract institutional
investors.’
However, Markus Giebel, CEO
of Deyaar, defended Dubai. “You
must remember that Dubai is still
an emerging market, and emerg-
ing markets don’t have legal frame-
works so Dubai is having to catch
up. Can we change Dubai from an
emerging to a mature market in 12
or 24 months? Probably not, but we
are making the right tracks.”
Martin Seward-Case, Chairman
of the UAE branch of the Royal In-
stitution of Chartered Surveyors
(RICS), supported Giebel’s view.
He told the audience that the RICS
was supporting Real Estate Regu-
latory Agency (RERA) to establish
ground-breaking changes behind
the scenes. “RERA are doing a fan-
tastic job; we’d only hope that they
continue to remain bold and im-
partial - where possible - avoiding
significant influence from master
developers.”
In terms of a recovery in the
real estate market, Wipperman
said Dubai still “had some way to
go,” but she predicted a change in
fortunes at the end of 2010. “‘Insti-
tutional investors are looking at the
existing supply of real estate, the
anticipated supply to come on line,
population statistics and the health
of the business community. But, in
Dubai we still have a way to go on
all of these factors.”
Wipperman said any recovery
in Dubai would at first be patchy;
focused particularly on neighbour-
hoods. “Certain pockets of Dubai
are more robust. The southern area
of Dubai is more resilient and we’re
getting closer to a price equilib-
rium, particularly in Dubai Marina
and Discovery Gardens.”
But to reach a recovery, Markus
Giebel, CEO of Deyaar, stressed that
Dubai must continue to invest and
improve as a city. “It is important
to continue to spend on infrastruc-
ture, safety etc. It is these things that
make Dubai a great city. Let’s trust
in Dubai, believe in Dubai and con-
tinue to build Dubai.”

Funds aplenty for distressed buying

I
ndividual investors and insti-
tutional funds have available
liquidity, but are holding off on
investing in assets in Dubai due to
the lack of clarity as to the true situ-
ation on the ground, according to a
panel of industry experts. Despite
this short term gap, the emirate has
the fundamentals to attract inter-
national interest in the medium to
long term.
While no significant distressed
funds are yet active, the few in the
pipeline are likely to increase confi-
dence in the market and rescue de-
faulted assets.
“Although there have been ‘dis-
tressed’ sales by individuals, a num-
ber of investors have been helped
by a number of easy payment plans
and similar initiatives by developers,”
said Markus Giebel, CEO of Deyaar.
“Real distress will come when devel- the money. Everybody realises that from rentals while developers wait help anybody.’
opers stop these plans, and the mis- there may be further downsides for prices on the market to begin to Giebel also told attendees that
fortune for those who cannot pay is and is waiting for the bottom. The rise again, before releasing them for Deyaar expected to begin raising the
an opportunity for these funds - and issue with Dubai is that there is still a sale. outstanding Dh300million of capital
the funds will come, that’s for sure.” lack of clarity in terms of the amount “Now is a great opportunity for for its Dh500million distressed debt
Fellow panellist Marwan Sheha- of supply and demand, and that is developers to take back well valued fund within the next few weeks. The
deh, Managing Director of Al Fut- what real estate is about. People are assets and hold on to them while developer and Dubai Islamic bank
DUBAI REAL TIMES

taim Capital agreed, pointing out
that the majority of the group’s
property fund has yet to be spent.
“The issue is risk aversion; it’s no
longer liquidity. We have plenty of
money, but where do you put it?
Two thirds of our fund is not yet de-
ployed. There is a lot of uncertainty
in the market, and there is no pres-
sure from our investors to spend
only willing to invest where they see
a clear shortage of supply.”
With developers in the emirate
looking to diversify their business
models to adapt to the new realities
in the market, some are looking at
the options of using their funds to
buy back units in their own devel-
opments. These units can then be
used to provide recurring income
the market settles, say two or three
years until we see appreciation, and
then sell them on,” said Giebel. “If
we recover units from investors
who have to opt out as they can
no longer make the payments, and
then sell them straight on at less
than the bottom end of the mar-
ket, we will only serve to destabilise
prices even further, which does not
have already put Dh200million into
the fund.
Deyaar is also looking at invest-
ing into international markets as part
of its longer term strategy. As well
as being close to agreeing a deal
in Lebanon and Saudi Arabia, the
company would be examining op-
portunities in ‘high risk, high reward’ 11
countries such as Iraq.
 PROFILE

The property
surveyor typically is
known as a Valuation
Surveyor or possible
a building surveyor

Martin Seward-Case

Chartered Surveyors
process? ultimately involve a chartered sur-

T
he Royal Institution of
Chartered Surveyors (RICS)
wholeheartedly supports
RERA in their quest to pro-
tect the rights and interests of con-
sumers. The RICS also shares RERA’s
vision that Dubai property investors
are assured the highest possible
service standards from real estate
agents, brokers and property devel-
opers transacting business in Dubai
whilst maintaining the integrity of
all the developments.
In late 2008, the RICS was pleased
to sign Memorandum of Under-
standing with RERA to share best
practice in real estate matters.
We catch up with Martin Seward-
Case, Chairman of the RICS UAE
Board to ask him a few questions as
to what Chartered Surveyors do in
the UAE, and advise on how to avoid
another disastrous property bubble
in the future.
What is a surveyor?
DUBAI REAL TIMES
What does a surveyor do?
This depends on the discipline. A
Valuations Surveyor will provide an
educated and professional opinion
on the value of a piece of real es-
tate. Banks use these valuations to
base their lending decisions. Con-
struction Cost Surveyors are known
as Quantity Surveyors and they look
after the cost and contract admin-
istration involved in building the
project.
What is the job of a home/
property surveyor?
There is no designation as a home
surveyor. The property surveyor
typically is known as a Valuation
Surveyor or possibly a building sur-
veyor .
When should one enlist the
help of a surveyor?
Before buying a property (yes, to
ascertain its value as well as its state
This depends on the sort of sur-
veyor one is looking for. Usually
enquiries are answered with a fee
set against a series of separate and
distinct functions outlining exactly
what is being asked for and what
sort of report or recommendation
will be provided for the fee itself.
What should you expect
your surveyor to do for
you?
Provide clear unbiased advice.
What types of surveyors
are there? (ie, those of rel-
evance to potential home-
buyers.)
We have 17 different disciplines that
form the 140,000 Chartered Survey-
ors worldwide. These disciplines
advance the standards of processes
in land, property and construction.
The potential homeowner needs to
know that valuations, State of the
veyor if they have any nervousness
regarding the processes they are
being required to sign up to. As he
is duty bound to primarily protect
the interests of the public, he will
be best placed to advise whether
further specialist services may be re-
quired (structural survey, etc).
When buying a property,
why should you enlist the
services of an independent
chartered surveyor?
The chartered surveyor is duty
bound to provide clear impartial ad-
vice whether it be for the valuation
of the house or apartment or the
condition that it is being sold in. The
answer may not necessarily be what
one was hoping to hear but it will be
fair and reasonable and reflect the
full circumstances of the purchase.
Don’t banks/mortgage
providers use surveyors,
anyway? Isn’t that enough?

It’s a term that has changed dra-
matically over the last few years. Tra-
ditionally the surveyor was seen to
stare through a level at another site
technician holding a staff. While this
activity still continues on construc-
tion sites, the chartered surveyor will
study a property, any construction
12 related problem, and provide advice
too.
of repair), during the buying pro-
cess (yes, to help you in the trans-
action process), after the property
is bought (possibly only to assist in
calculating the cost to rebuild for
insurance purposes)
What will the surveyor do
at each stage of the buying
Property and rebuild cost estimates
(for insurance purposes) should all
have the involvement of a specialist
chartered surveyor.
When would you need to
enlist their services?
The potential homebuyer should
Typically yes it should be enough,
however, the purchaser should
check that this is the case. It is not
mandatory in the UAE for chartered
surveyors to be used as part of the
transaction process, however the
purchaser (or seller) can have signifi-
cantly more peace of mind if a one

has been involved in the correct
part of the transaction.
What questions should you
ask a surveyor?
In buying home typically :
• Is the property I’m purchasing
true “unencumbered freehold”?
• Does the seller actually own the
property?
• Is the price we’re agreeing on
the right price?
• Are the charges I’m being
asked to pay the correct level of
charge?
What is RICS?
RICS is the world’s leading qualifica-
tion when it comes to professional
standards in land, property and
construction. RICS is an indepen-
dent professional body originally
established in the UK by Royal Char-
ter. Since 1868, RICS has been com-
mitted to setting and upholding the
highest standards of excellence and
integrity – providing impartial, au-
thoritative advice on key issues af-
fecting businesses and society. RICS
is a regulator of both its individual
members and firms enabling it to
maintain the highest standards and
providing the basis for unparalleled
client confidence in the sector.
What is the advantage of
using a RICS surveyor?
Primarily, peace of mind. However,
chartered surveyors also carry pro-
fessional indemnity insurances to
cover the unlikely instance of the
advice provided not being correct.
What’s the difference
between a valuation and a
building survey?
The building survey looks at the
condition of the building and rec-
ommends what needs to be done
to make it habitable. The Valuation
looks at the market value of the as-
set.
If you want to make an
alteration to your prop-
erty, why is it important to
enlist a RICS surveyor?
It’s wise to involve a chartered sur-
veyor to ensure your rights and
obligations under your ownership
are fully understood. Equally in the
event that alterations to the apart-
ment or semi- detached dwelling
are in any way associated with a
commonly owned wall, it is essential
that a chartered surveyor is involved
to put steps in place to protect both
party wall owners.
What is a home condition
report? Is it required in the
UAE?
It does what is says on the box. Cur-
rently it’s not mandatory but we’d
recommend that it is put in place.
As the secondary market matures
and homes start aging, this report
protects both parties in that an in-
dependent surveyor has created it.
What can Dubai do to
avoid another property
bubble in the future?
More relevant regulation
Many exponents of free market prin-
ciples will not openly support the
notion of public institutions plac-
ing regulations onto an open grow-
ing market. However if we consider
how the low levels of regulation in
the banking and financial services
sectors have directly contributed
towards the financial meltdown of
Q4 last year, we now see those very
services themselves admitting that
greater regulation will indeed have
taken the edge off the collapse we
have now witnessed.
In Dubai, the recent bubble raced
ahead of us as the speculation cycle
took hold. With RERA’s now strong
position on speculation we’re seeing
far more sensible level of regulatory
mechanisms in place to ensure we
don’t fall into the same trap.
With RERA now in place it’s un-
likely that we will see another bub-
ble growing at the speed that we
witnessed – and this is a good thing.
It is all about sustainability. Growth is
important, but growth in a sustain-
able manner.
Lower barriers to entry to al-
low in greater competition
These barriers to entry include the
prohibitively expensive cost asso-
ciated with the establishment of
a Consultancy Practice or General
Contracting concern. By lower en-
try costs smaller business can enter
the market and keep competition
healthy in the event that the sector
in particular starts to heat up.
We had several instances of
small to medium size contracting
concerns from the UK and South
Africa make enquiries during 2007
and 2008 but were put off by the
cost and bureaucracy related to es-
tablishing the concern.
It is pleasing to note that at both
local and federal level, the authori-
ties are starting to look at this now.
Supply chain responsibility in
pricing
During the recently witnessed up-
turn, opportunism by the supply
chain is one of the most regrettable
but significant contributions to-
wards inflationary pricing we have
seen. Clearly resource restriction
will contribute towards inflation-
ary pricing however the attitude
of “…it’s not the cost of the service
but the price we know we can get
away with…” obviously prevailed in
the UAE market during the 2006 –
2008 upswing. While consultancy
man-hour charge out rate increased
dramatically it was the “Cost plus:
take-it-or-leave-it” approach by
many contractors that was most re-
grettable.
Whilst the developers clearly
signed up to contracts with values
provided by an opportunistic sup-
ply chain, many of these organisa-
tions have now banked these ‘super
profits’ and are crying foul.
In future the entire supply chain
should be more responsible in not
creating or contributing towards
the perception of profiteering. The
supply chain should use a ‘bottom-
up pricing approach’ where the cost
of the service is supplemented by a
DUBAI REAL TIMES
reasonable level of economic profit.
Martin Seward-Case is a Chartered
Quantity Surveyor and Partner with
Reaction Project Management, a
consultant providing Project and Cost
Management advice to developers,
contractors and other consultants.
Martin was elected by the RICS UAE
Membership to Chair the RICS UAE 13
Board for 2008 / 2009.
 MARKET TRENDS & ANALYSIS // PROPERTY
FINANCIAL ROUNDUP
PRICES
Financing options
I
t is clear to everyone that people
should talk to each other to dis-
cuss mutually beneficial ways of
organising their money. Devel-
opers, bankers and buyers need to
discuss options to what can often
seem like an impasse, when outside
financial problems affect all and
sundry irrespective of their colour,
class and creed. Buyers welcome
an understanding attitude when
discussing how to maintain pay-
ments on their purchase even when
they cannot manage to pay what
was originally agreed upon – such a
long time ago, at least eight months
or so in the past. Developers would
like to get some money into their
coffers, any reasonable amount will
do to stave off the spectre of bank-
ruptcy.
Dubai-based Deyaar Develop-
ment has announced continued
partnerships with leading banks to
offer financing options exclusively
to its customers, including up to 90
per cent financing and repayment
periods of up to 25 years. Deyaar
customers, subject to meeting the
bank's credit approval requirements,
will be able to obtain special financ-
ing schemes and favourable repay-
ment terms and quicker approvals,
the bank said.
Markus Giebel, Chief Executive
Officer of Deyaar Development has
said the company, along with Dubai
Islamic Bank, has secured Dh200-
million from regional investors for
DUBAI REAL TIMES
a new distressed asset fund that
will buy property from buyers who
default on their payments and hold
onto the units for several years, re-
selling them for a profit in the future.
He said the creation of the fund was
the final step in a strategy to lower
the company's default rate from
14 about 50 per cent to the low single
digit range.
Dubai Islamic Bank (DIB) has
announced that it is offering up to
90 per cent financing for properties
across the UAE. Property buyers can
avail of Al Islami Home Finance for
up to 25 years for ready and under-
construction properties from ap-
proved developers. This financing is
available to both UAE nationals and
expatriate residents. DIB is also offer-
ing refinancing solutions for proper-
ties that are already completed.
Dr. Adnan Chilwan, Chief of Retail
and Business Banking, DIB, said: “The
security of owning a home in the
Dr. Adnan Chilwan
UAE provides great comfort to our
customers. With a high finance to
value ratio and a range of products
to suit every need, we encourage
homebuyers in the country to take
advantage of this opportunity.”
Nakheel has said that it is offer-
ing its customers discounts of be-
tween 10 per cent and 30 per cent
to help investors meet their com-
mitments and obligations towards
the company. To qualify, buyers will
have to settle outstanding balances
and continue to pay their instal-
ments on time, and the scheme is
available to customers who have
bought in Jumeirah Island Man-
sions, Jumeirah Heights Clusters,
Badrah phases one and two, Marina
Residences and Veneto.
Nakheel has also announced a
new, lower service charge budget
for its Discovery Gardens commu-
nity, following a detailed review of
scope and suppliers. The new rate
has been formally agreed with the
Dubai property market regulator,
RERA, and will mean a reduction of
approximately Dh5 per square foot
in service changes for homeowners.
The new lower service charge rates
will be backdated to 1st January,
2009, with any rebates for house-
holders being credited against next
year’s service charges effective from
1st October, 2009.
Abdulrahman Kalantar, Manag-
ing Director of Nakheel Asset Man-
agement and Design (NAMAD),
said: “When we first set the service
charges for Discovery Gardens, they
were based on our best estimates
for this new Nakheel community.
Following a lengthy review, we
have been able to take advantage
of recent reductions in the cost of
goods and services, which has in
turn reduced our overall service
charge budgets. We’re now delight-
ed to pass on these cost savings
to every homeowner at Discovery
Gardens.”
Presently, across Nakheel’s devel-
opments, including Discovery Gar-
dens, service charges are budgeted
according to projected costs and all
accounts are independently audited
to ensure accuracy and transparen-
cy for homeowners. Nakheel works
with RERA, residents and suppliers
to ensure that the charges are in line
with market averages.
Following the introduction of
Strata Law in April 2008, Nakheel
made the necessary preparations
to register the Owners’ Association
with RERA once the regulations are
finalised by the Dubai Land Depart-
Dubai-based Deyaar
Development has
announced continued
partnerships with
leading banks to
offer financing
options exclusively
to its customers,
including up to 90 per
cent financing and
repayment periods of
up to 25 years
ment (DLD). As master developer,
Nakheel will ensure that the owner
associations are established in a
timely manner, together with the
creation of an owner’s committee
which will empower residents to
actively participate in the manage-
ment of their building.
Emaar Properties has partnered
with Standard Chartered Bank to ex-
tend two easy home finance pack-
ages for all its projects in Dubai that
will be delivered in the next nine
months.
Standard Chartered Bank will of-
fer two mortgage products – the As-
set Back Lending (ABL) Product and
Standard Mortgage Product (SMP).
The Asset Back Lending (ABL)
Product offers an easy loan of up
to 40 per cent of the property price
with a mortgage of Dh100,000 to
Dh2.5 million being provided for
a tenure of three to 25 years. The
Standard Mortgage Product offers
a standard loan of up to 75 per cent
of the property price. Potential end-
users and customers can obtain fi-
nancial support from Dh150,000 to
Dh10 million for a tenure of three to
25 years.
The home finance options will
cover an extended portfolio of
Emaar projects including apartments
and villas in Dubai in prime loca-
tions such as Downtown Burj Dubai,
Dubai Marina, Arabian Ranches and
Emirates Living. The ABL easy loan is
particularly tailored for current inves-
tors and end-users seeking financial
support to complete the remaining
payments before handover, while
the standard mortgage will appeal
to all potential home-buyers.
Mr Ahmad Al Matrooshi, Manag-
ing Director – UAE, Emaar Proper-
ties, said: “The partnership between
Emaar Properties and Standard
Chartered Bank is a huge confidence
booster for Dubai’s property sector
as it marks the strengthening of li-
Old Town Island at Burj Dubai
renew the rental lease if they do not
decide to purchase the home after
one year.
The Rent-to-Own scheme,
launched by Emaar in November
2008, has gained strong response
from customers, who benefit from
the convenience of staying in a
home of their choice for one year
before making a purchase decision.
With the entire rent of the year going
towards down payment, the scheme
also presented a financially benefi-
cial option.
The residences showcased as
part of the programme are located
in the residential clusters of The Old
Town, Old Town Island, South Ridge
and The Residences, all established
communities with an array of life-
style amenities. South Ridge and
The Residences are impressive high-
rise towers while The Old Town and
Old Town Island feature elegant Ara-
besque architectural features. The
newly released units include one- to
five-bedroom apartments with ei-
ther large terraces or balconies. All
the homes have upgraded finishes.
The home finance options will cover an
extended portfolio of Emaar projects including
apartments and villas in Dubai in prime
locations such as Downtown Burj Dubai, Dubai
Marina, Arabian Ranches and Emirates Living.
Company (DIRC), the real estate the customer’s financial burden and
arm of Dubai Investments, is giv- facilitate procedures in light of the
ing a 100 per cent refund to its in- current situation."
vestors on the Mirdiff Hills project, As per the clauses of the deci-
which it has put on hold due to un- sion, the insurance on transactions
availability of mortgage financing. regarding the approval of plans,
Khaled Kalban, Managing Director imposed on the owners when they
and CEO of Dubai Investments has submit applications for building
said DIRC would continue with the permits, has been cancelled. It was
project should the lending scenario a fee submitted, along with build-
improve in Dubai. ing plans, which was acknowledged
Eng. Hussein Nasser Lootah, Di- by the competent department to
rector General of Dubai Municipal- issue a building permit. The owner
ity has issued a decision cancelling receives the difference between
DUBAI REAL TIMES

quidity levels.”
Emaar Properties has also un-
veiled a new portfolio of homes in
its Rent to Own scheme within the
Downtown Burj Dubai community.
Customers can lease the ready-to-
live-in residences for one year before
making a purchase option, with the
entire rent for the first year going to-
wards the down payment. They can
All homes offered as part of the
Rent to Own scheme are near Burj
Dubai, the world’s tallest building,
and residents only need to take
a short stroll to watch The Dubai
Fountain, the world’s tallest per-
forming fountain and a spectacle
that performs to popular Arabic and
World music.
Dubai Investments Real Estate
the insurance amount, which was
required at the time of approving
building plans.
Lootah said that the Munici-
pality has, through this decision,
tried to reduce the efforts exerted
for the process of payment and
receipt of insurance so as to save
the time and effort of customers.
"At the same time it will also save
the acknowledged fee and the es-
timated fee which must be met in
the light of accounts of the build-
ing, during the final approval of the
plans.
Previously the owner had to pay
an insurance amount related to plan
approval, which was equal to the set
of fees that must be met for the issu- 15
ance of a building permit.
 MARKET
MARKET TRENDS
TRENDS &
& ANALYSIS
ANALYSIS //

The role of transparency in

restoring confidence in real
estate market
By Craig Plumb, Director of Research, Jones Lang LaSalle (UAE)

Jones Lang LaSalle’s second Invest- form and creating a transparent importance of improving sentiment
ment Sentiment Survey (ISS) under- market will provide the surety that and restoring confidence in the real
taken in March 2009. They asked investors require to re-enter the estate sector and a key component
their sample of the regions leading market with the enthusiasm they, of this strategy has been to improve

D
ubai has been one of the real estate investors what factors once had. the openness and transparency
fastest growing real es- they considered most important While Dubai saw a major im- of the market. It is in this area that
tate markets in the world in their decision to invest in a par- provement in real estate market RERA is playing a key role. There has
over the last 15 years, ticular market – the results, which transparency between 2006 and been widespread industry support
with Jones Lang LaSalle identifying are shown in the chart on this page, 2008 (scoring the world most im- for the raft of measures to improve
Dubai (along with Dublin and Las highlight the importance of trans- proved market in its 2008 survey), transparency being implemented
The Role of Transparency in Restoring Confidence in the Dubai Real Estate Market
Vegas) as cities of growing influence parency, with improved regulation there is no doubt that the market by RERA including:
on the world stage back in 2001. AsDubai has been one of the fastest growing real remains estate markets far lessin thetransparent
world over the than
last 15
we all know, the market continuedyears, with Jones Lang LaSalle identifying Dubai more (alongmaturewith Dublin
markets and Las as
such Vegas)
Aus-as • Availability of better quality
citiesThe Role of Transparency
of growing influence on in theRestoring
world stage Confidence
back in in the Dubai
2001. As weReal Estate Market
all know, the market
to grow rapidly before reaching a tralia, Canada, the UK and the US. market data through the REIDIN
continued to grow rapidly before reaching a ‘tipping point’ in the third quarter of 2008 as
Dubai
‘tipping point’ in the third quartera result has been one of the fastest growing real estate
At
of the liquidity crunch which triggered a major global economic slowdown.markets
a recentin the world
Cityscape over the last
Connect 15 sales database and the Projects
years, with Jones Lang LaSalle identifying Dubai (along with Dublin and Las Vegas) as
of 2008 as a result of the liquid- breakfast,
cities of growing influence on the world stage back in 2001. As we all know, the market
participants from differ- Progress Indicator
ity crunch, which triggered a majorThe continued
availability of capital
to grow rapidlywas one reaching
before of the key ingredients
a ‘tipping point’fuelling
ent sectors inofthethe the
thirdrealspectacular
estate
quarter market
of 2008 growth
as • Publication of regularly updated
of the Dubaiofmarket
a result and its
the liquidity abrupt
crunch withdrawal
which triggered triggered
a major global a major correction, with rentals
global economic slowdown. and values having fallen in the order of 50% over shared what economic
the ensuing they slowdown.
believed
9 months, couldtobe
returning rental indices
The availability of capital was2007The levels in some sectors. The rapid turnaround done in to
market restore
availability of capital was one of the key ingredients fuelling the spectacular growth confidence
conditions in Dubai to the
has • Improvements to the legal
one of the key ingredients fuel-demonstrated
of the Dubai themarket
truth of andthe
its old investment
abrupt withdrawal adage that a‘sentiment
triggered
market majoronce
and, moves
correction, markets’.
with
again, rentals The
transpar- framework through new regula-
and values
question now on having fallen inlips
everyone’s the order
is ‘whatof 50% over theare
strategies ensuing
required 9 months, returning
to restore to
confidence and
ling the spectacular growth of the 2007 levelsDubai?’ ency was
in some sectors. The rapid turnaround in market conditions in Dubai hasidentified as a key factor. tions governing strata titles, Es-
rebuild brand
Dubai market and its abrupt with- demonstrated the truth of the old investment adage that ‘sentiment
One of the participants summedmoves markets’. The crow accounts, lease registration
question now on everyone’s lips is ‘what strategies are required to restore confidence and
drawal triggered a major correction, While the answer to this question will clearly vary across different
up the general consensus when he stakeholders in the and mortgages
rebuild brand Dubai?’
with rentals and values having fallenreal estate market, one theme appears commonnoted across thatthe board,
the lack an improvement
of market trans- in • Better enforcement and im-
transparency
While the is critical
answer to restoring
to this question willconfidence
clearly varyandacross
sentiment.
different This was highlighted
stakeholders into
the the in the
in the order of 50 per cent over thefindings of Jones Lang LaSalle’s second Investmentparency had contributed
Sentiment Survey (ISS) undertaken proved mechanisms for real es-
real estate
Craig Plumb market, one theme appears common across the board, an improvement in
ensuing nine months, returning toin March 2009. We
transparency askedtoour
is critical sampleconfidence
restoring of the regions feeling
and of ‘delay
leading
sentiment. real and
Thisestate
was pray’ which
investors
highlighted what
in the tate dispute resolution
2007 levels in some sectors. Thefactors and they
findings
reducedconsidered
of Jones Lang
market most
riskimportant
LaSalle’sbeingsecond inInvestment
iden- theirwas decision to invest
Sentiment
currently Surveyin a(ISS)
particular market
undertaken
characterising the – • Operational improvements,
in March
the results, 2009.are
which Weshown
asked our sample
in the chart of below,
the regions leadingthe
highlight realimportance
estate investors what
of transparency,
rapid turnaround in market condi- tified as the two leading influences. Dubai market. agreements on codes of mea-
withfactors
improved they regulation
considered most importantmarket
and reduced in theirriskdecision
beingtoidentified
invest in a as particular
the twomarket
leading –
tions in Dubai has demonstratedinfluences. the results,
The companywhich are shown is certainin thethat
chartes- below, highlight
The good the importance
news is that of transparency,
the Dubai surement and licensing proce-
with improved regulation and reduced market risk being identified as the two leading
the truth of the old investment ad- tablishing
influences.
a solid regulatory plat- government has recognised the dures for real estate profession-
age that ‘sentiment moves markets’. T h e Im p o rta n c e o f T ra n s p a re n c y als
R e s u lt s f r o m J L L ’s 2 0 0 9 I n v e s t o r S e n t im e n t S u r v e y
The question now on everyone’s T h e Im p o rta n c e o f T ra n s p a re n c y
R e s u lt s f r o m J L L ’s 2 0 0 9 I n v e s t o r S e n t im e n t S u r v e y
lips is “what strategies are required The continued role of RERA in im-
DUBAI REAL TIMES

P l e a s e r a n k t h e i m p o r ta n c e o f t h e f o ll o w i n g f a c t o r s i n f l u e n c e o n y o u r d e c is i o n to in v e s t i n a p a r t i c u la r

to restore confidence and rebuild r e a l e s t a te m a r k e t / a s s e t c l a s s .

P l e a s e r a n k t h e i m p o r ta n c e o f t h e f o ll o w i n g f a c t o r s i n f l u e n c e o n y o u r d e c is i o n to in v e s t i n a p a r t i c u la r
proving the regulatory environment
r e a l e s t a te m a r k e t / a s s e t c l a s s .

brand Dubai?” and market transparency will have a

Transparency

Re gu la tion /Le gisla tio n

Transparency

Re gu la tion /Le gisla tio n

M a rke t Risk
While the answer to this ques- Le ve l of R etu rn ( Re ntal I nco me )
M a rke t Risk significant impact on the recovery
tion will clearly vary across different Le ve l of R etu rn ( Re ntal I nco me )
Le ve l of R etu rn ( Ca pital G ro wth ) of the Dubai Real Estate market.
Le ve l of R etu rn ( Ca pital G ro wth )

stakeholders in the real estate mar- A va ila b ility of E q uity

A va ila b ility of E q uity
Continued transparency improve-
ket, one theme appears common ments through 2009 and 2010 will
E xit S tra teg y
E xit S tra teg y

A va ilab il ity of P r od uc t
A va ilab il ity of P r od uc t
across the board, an improvement T ra nsp arTerancy
nsp/ ar
C eorncy
po/rCate Gor ate
or po ve rn
Goan
vece
rn an ce
provide a foundation for stability
in transparency is critical to restor- A va ila bility
A va ilaofbility
D eboftD eb t ahead of what we believe will be a
16 ing confidence and sentiment. This recovery of transactions and pricing
Cost ofCost
D eboftD eb t

0 .0% 5. 0% 1 0.0 % 15 .0 % 2 0. 0% 2 5.0 %

0 .0% 5. 0% 1 0.0 % 15 .0 % 2 0. 0% 2 5.0 %
was highlighted in the findings of levels in 2011.

A good turnout at the auction
Linda Benbow asked auctioneer Jeremy Mayhew-Sanders, Head of Investment &
Developments at Sherwoods, on what happened at a recently held property auction.
S
herwoods Independent
Property Consultants held
an auction in early June
featuring properties in The
Palm, Dubai Marina, Downtown
Dubai, Jumeirah Lakes Towers, and
other locations in the UAE. The of-
ferings covered a broad price range
and featured a mix of ready-to-use,
nearly completed and off-plan resi-
dential and commercial units, as
well as a number of plots. On the
night, however, just one plot of land
was sold.
“To be honest we knew it was
going to be a real challenge to ac-
tually conclude a sale on the night
of the auction. Before we started
we said we would be pleased if
there was a good turn out and if
we succeeded in getting people
in the room to bid. Just shy of 200
people turned up so this was a
good result. On several of the Lots
we also managed to get people to
bid and came close on two of the
Lots to the reserve level. So again
this was satisfying,” stated Jeremy
Mayhew-Sanders. “We did sell one
unit immediately after the auction,
Emirates Crown penthouse for Dh6-
million, and we are genuinely in dis-
cussions with three other buyers on
two other Lots.
Having said that we know there
is still a lot of work to be done. We
still have a way to go to get people
to understand the auction process;
and this is understood and will be
worked on for our next auction.
Price and confidence in the market
Jeremy Mayhew-Sanders
generally remain the main barriers
and this is a challenge for everyone
in the property industry. You can't
hide behind the auction process,
it's a public arena and open for all
to see and judge and this should
be seen as a positive move in an
industry that is shrouded in gossip,
rumour and hearsay!
The lack of confidence in the
whole auction process perhaps
played a bigger part than I prob-
ably thought. The company had
to reduce the number of proper-
ties on offer from 50 to 20 as many
sellers were unwilling to accept
lower reserve prices proposed by
the company. We could not get to
a level of reserve that we thought
would be of interest to the market
with the sellers. That pricing has
been the key issue.” Mayhew-Sand-
ers explained.
High expectations of sellers and
bargain-hunting buyers seem to be
the stumbling block for auctions
currently. According to Mushtaq
Ahmed, a Dubai-based business-
man, properties with high reserve
prices should not be in the auc-
tion market. His bid of Dh70 per
square foot for a 6,142 square foot
villa plot in Dubailand was the high-
est but did not meet the reserve
price. “I came here to get a better
deal. I don’t need to come here to
get properties at market price. Why
should I waste my time?” he said.
COMMENTS
Expectations were high on
Sherwoods to put lower-to-mid
range properties on offer as indus-
try experts felt that the absence of
it caused the failure of an auction
in May by another company which
had offered three villas and one
penthouse apartment in upscale
areas of Dubai. Only one property,
a three-bedroom villa in Arabian
Ranches managed to draw buyers’
interest. It received a highest bid
of Dh2.3 million, which according
to organisers was below the mini-
mum price the seller was willing
to accept. However, Sherwoods
auction did not offer lower-to-mid
range properties.
“We will definitely be holding
another auction and this is likely to
be in October or November,” stat-
ed Jeremy. “There are two types
of buyers who we want to encour-
age into the room. Investors and
owner-occupiers, people who
want a set of keys and move in.
Next time, for the investor, we will
endeavour to get more inventory
that has income. Both commercial
and residential property that is cur-
rently let out and will provide the
DUBAI REAL TIMES
investor with ready income and a
yield. For the owner-occupier we
need to source property of low to
mid-range values. More affordable
stock.
Another lesson learnt is to ex-
tend the marketing period to al-
low people more time to inspect
the property and to ask questions 17
about the auction process.”
 COMMENTS
Human resources that
will make you win
Whilet the market focus has moved from ‘off plan’ to ‘resale’ many estate agencies are finding
it hard to overcome the need for a new business model. Overlooking one of the key factors in
their business - non-performance of staff - could be the toughest challenge. Cecilia Reinaldo,
Managing Director of Fine & Country, explains how to identify the non-performance signs and
to become resilient.
I
t is a fact that in a real estate en-
vironment, we need sales. With-
out sales we are not in business.
Non-performance has lead to
the closure of many businesses re-
cently, and although everyone be-
lieves it is the non-performance of
the markets, I can assure you that
in most cases, it is the non-perfor-
mance of sales staff.
In the previous issue of Dubai
Real Times, the value of improving
your market knowledge was high-
lighted as the first step to improv-
ing your sales ‘bottomline’. One of
the underlying recommendations
was that agents should dedicate
two hours each week, educating
themselves by reading and study-
ing the wealth of information avail-
able on local and global property
markets. Possession of this informa-
tion will quickly translate in client
acknowledgement of their new-
DUBAI REAL TIMES
found expertise.
Conversely, I was in a hotel lob-
by and could not avoid overhearing
a conversation from what I would
presume was a relatively new en-
trant to the UAE property market,
advising a group of evidently dis-
illusioned businessmen “that the
18 market will definitely go up” and
“they are guaranteed to get dou-
Cecilia Reinaldo
The value of
improving your
market knowledge
is the first step to
improving your sales
bottomline
ble digit rental yields.” I will never
know whether a deal was made!
But, as the old saying goes if you
think it’s expensive to hire a profes-
sional to do a job, wait until you
hire an amateur (Paul ‘Red’ Adair).
Here are a few points that estate
agency owners should have a
close look at:
Resources: In practical terms a few
have the resources to take on extra
financial commitment but, remem-
ber, when a company recruite a top-
agent, it uses its current resources to
draw this high profile estate agent
to join them. When the company
does not supply the resources to
assist the agent to do the job, the
company is to be blamed for the
non-performance of the agent. Lack
of resources can include: Understaff-
ing (admin and marketing support),
Tools and equipment (website,
computers, and advertising), Bud-
get and Marketing material.
Capacity: Non-performance be-
comes the result when the agent
does not have the skill to perform
the job. In real estate we often
find that the agent does not have
the ability to close the deal, or he
does not know how to negotiate -
knowledge, skill and attributes are
key to this business. There are cer-
tain activities that are essential for
an agent in order to be successful,
and the education approach must
therefore focus on the ability to do
the things that will result in generat-
ing an above average income. Pre-
viously, most business training be-
came "manager-centered", focusing
on teaching agents in a classroom
about what to say and do, and
memorising what must be done.
This method is fast changing back
in favour of "agent-centered" and
task-based approaches whereby an
agent first performs role plays in the
office to prepare them before they
do it in the field. This is an excellent
opportunity to interact with a se-
nior agent or manager and to learn
the finer skills of negotiating.
Behaviour: The agent decides not
to do certain tasks and simply ig-
nores it. They ignore the guidelines
prescribed by the company and
sometimes deliberately refuse to
cooperate with colleagues. One to
one meetings with your agents will
give you a closer understanding
on the above. A close inspection
might give you the exact reasons
for underperformance.
In the end we all need to go
back to basics:- estate agents in the
UAE need to learn to let go of the
past. Holding back on the thoughts
of the ‘big deals’ you made and the
‘record’ reservation forms you man-
aged to conclude are never going
to get you to where you are trying
to be; and time immemorial has il-
lustrated that these thoughts are
the very same that will hold you
back from here to eternity.

Transparency:
the best surprise is no surprise
By Aziz Valliani & Carla Polkinhorn
Aziz Valliani
T
he concept of Settlement
and Escrow services is not
a new one. Over a century
ago certain companies be-
gan routinely offering their services
to sellers and buyers of real estate to
assist them with the safe and expe-
dient transfer of property and funds
in accordance with local laws. Many
countries around the world have
some form of settlement services
whether it is called Settlement, Clos-
ing, Escrow, Conveyance or Guaran-
tee services. Basically these compa-
nies offer a failsafe way to document
the terms of a closing and execute
the instructions accordingly.
The word ‘escrow’ has its roots in
Middle English and old French and
basically translates to ‘scroll’ which
in today’s terms means ‘checklist’. In
the 1930s, during the Great Depres-
sion, escrow accounts were imple-
mented heavily in the United States
to gather funds from property own-
ers regularly to pay property taxes
or loan amounts owed so that they
would not fall behind on payments.
These escrow accounts are still used
in most, if not all transactions, as a
means used to account for all costs
associated with buying and selling
property.
In uncertain economic times the
services of a Settlement and Escrow
company are highly valued. Buyers
know that their deposits of funds
are safeguarded with the Settle-
ment Agent -even if their sale and
purchase agreements do not con-
tain all the requisite items that are
on the standard ‘checklist’ to prop-
erly close a property transaction.
For example, buyers are generally
expected to sign an MOU to pur-
chase a property before the seller
has signed; and it may be missing
key elements such as the amount of
sellers existing loan that is secured
against the property, the amount of
rent paid in advance by an existing
tenant or the amount of strata fees
that will become due.
. The unbiased third party in-
termediary, neutrally monitors the
specific requirements of each and
every closing while overseeing and
controlling the documentation that
is required by local authorities, at-
torneys, lenders, insurance and real
estate brokers. These various par-
ties to the deal, whose representa-
tive industries have done their best
to introduce initiatives that address
the problems faced by the current
economy, can rely on the Settle-
ment Agent to become the cost
effective checks and balances sys-
tem during closing of a real estate
transaction.
Currently sellers are experiencing
difficulty in finding qualified buyers
who will risk making any deposit
of funds into a transaction which
may fail to complete. The trust fac-
tor has evaporated. The chances
of a deal going through get much
better when a Settlement Agent is
involved. His best practices require
that the details of the transaction
COMMENTS
become more transparent to both
the buyers and sellers. The agent
creates Settlement Instructions that
all parties sign off on detailing all ma-
terial aspects of the agreement and
the terms and conditions that must
occur in order for the transfer of the
property to be effectuated. He cre-
ates an accounting of all funds owed
by the buyer, or the buyer’s lender,
as well as the amount of funds due
to the seller’s existing lender (if any)
and both parties are required to sign
Carla Polkinhorn
off on this accounting for complete
transparency. purchase of property are insured
Lenders become more willing in bank accounts that are regulat-
to transact on deals that accurately ed and all property transfer details,
reflect the current ownership and including mortgage details, are
financial details of the transaction. documented and registered with
Deposits of funds or cheques for the the local authorities.
Best practices yield best results
Recently, a buyer borrowed Dh 800,000 to purchase his dream home
from a seller. The seller had an existing mortgage of Dh700,000 that
he was supposed to pay off with the proceeds at close. Well, after re-
ceiving the funds from the buyer’s lender, the seller - for some reason
- decided to back out of the deal and leave the country in a hurry, with-
out even returning the buyer’s earnest money deposit. So the buyer is
now required to make payments with interest on his Dh800,000 loan
to the lender for a property that he does not even own.
Best practices would dictate that all funds be placed with a neutral
third party (Settlement Agent) right when the agreement is reached
between the principals. If the seller decided not to go through with
the deal, then the Settlement Agent would be compelled to return
buyer’s loan amount of Dh800,000 to the lender and the buyer’s ear-
nest money deposit. Settlement services of a neutral third party could
DUBAI REAL TIMES
have alleviated this problem for the buyer.
This article was written by Aziz Valliani, Managing Director, & Carla
Polkinhorn, Sr. enTrustee at enTrust & Title Ltd., www.entrusttitle.com.
In addition to real property transactions, the company also provides
Settlement Services for the transfer of personal property, business as-
sets and rental or lease transactions. Non real estate settlement solu-
tions are available for individuals or corporate entities. The same con-
cept of having a neutral third party act as the intermediary between
the parties is applied. 19
 COMMENTS
Investing for the long term
Facilities management solutions and value-added real estate services take the spotlight as
companies invest for the long term
W
hile unprecedented
global economic
challenges have af-
fected real estate
and construction markets, several
companies have managed to stave
off extinction by harnessing all
available resources that help im-
prove competitiveness. The key to
this approach, analysts note, is to
invest in solutions and services that
enhance long-term sustainability
and improve operational efficiency.
In the property sector, for in-
stance, firms are taking proactive
steps to counter the effects of di-
minishing demand by investing in
facilities management solutions
and other value-added real estate
services, which are now a lot more
accessible because of a more com-
petitive pricing structure.
“There had been a prolonged
period of diminished construction
costs as a result of reduced prop-
erty demand and slow construction
activities. The corresponding price
corrections naturally reverberated
across the real estate value chain,
including facilities management so-
lutions. I believe this is a very crucial
situation wherein businesses must
be able to correctly assess how
they should be able to take advan-
tage of competitive pricing struc-
tures to offset the effects of a slow
DUBAI REAL TIMES
demand,” said Sobhi Agha, General
Manager, The Specialists.
“Some companies capitalise on
the low costs by optimising their
construction activities. On the oth-
er hand, property owners, based on
our experience, are investing more
on products and services that en-
20 hance long-term sustainability such
as facilities management solutions.
Sobhi Agha
Either way, I believe they are mak-
ing the right decision by focusing on
the future. Demand gaps and fluctu-
ating construction costs are short-
term issues and the best way to take
advantage of the situation is to think
long-term,” added Agha.
Agha has revealed that the com-
pany has seen a significant increase
in the number of developers and
building owners that are now ag-
gressively seeking suitable facilities
management solutions and other
complementary real estate services
to boost business value and long-
term prospects. Just recently, The
Specialists has sealed an agreement
to deliver sales, leasing and property
management services to Dunes Vil-
lage, a Dh300 million development
in Dubai Investments Park. Agha also
noted that the growing emphasis by
local authorities on green building
regulations has likewise increased
demand for the company’s energy-
efficient property management so-
lutions.
“It’s all about consolidating your
business. Different economic situ-
ations present different challenges
and opportunities. In this period of
economic difficulties, property man-
agement solutions and other value-
added real estate services serve as
important consolidating measures
that definitely help developers and
building owners boost business and
asset value. Moreover, government-
led efforts to promote green build-
ing standards have likewise further
enhanced the demand for the ser-
vices that we offer. This is why busi-
ness has remained upbeat as usual
for us as our value-added real estate
solutions offer companies an op-
portunity to focus more on their
long-term business prospects and
abide by green building regula-
tions,” said Agha.
While costs of construction
materials have previously declined
by up to 30 per cent, recent re-
ports show that they have recently
jumped by 15 per cent. However,
analysts say the fluctuating figures
do not suggest anything concrete
at the moment and may be the re-
sult of companies buying to replace
stock, and not necessarily because
of a sudden sharp surge in con-
struction activities.
“Things don’t change overnight.
The best approach is still to prepare
and invest in solutions that offer
the best long-term value. In this
regard, there have been several
companies that are now reaping
the benefits of adopting facilities
management services through re-
duced maintenance costs, stream-
lined operations, energy efficiency,
and long-term sustainability. Surely,
such an investment puts them in a
very good position to weather the
downturn and, more importantly,
capitalise on the excellent opportu-
nities when the real estate and con-
struction industries finally stabilise,”
concluded Agha.
The Specialists delivers a com-
prehensive range of services to cov-
er all types of property transactions
within both the commercial and
residential markets, for lease and for
sale. The company additionally of-
fers comprehensive property man-
agement services to clients in the
UAE, while it has also been expand-
ing across other key markets in the
Middle East, including Lebanon.

Middle income housing segment
maintains price despite market slump
“T
here is still a reason-
able demand for
middle income hous-
ing,” declares Ashok J.
Galgotia, CEO of Triveni Builders and
Promoters Limited, developers of the
Dh80 million middle income resi-
dential development at La Fontana
in Dubailand.
And although some projects by
other developers have been can-
celled Galgotia is undeterred. “La
Fontana has started its construction,
and has never been in danger of be-
ing cancelled. The project is support-
ed by a company that has substantial
capitalisation and remains competi-
tive despite the current property
slowdown,” he continues.
Witnessing a positive market reaction
B
etter Homes real estate
agency has witnessed
some positive results over
the past few weeks, where
both general enquiries and transac-
tions are on the rise, after a dip in
recent months in light of the effect
the global financial crisis has had
on the UAE. The company has en-
gaged in a number of promotions
and campaigns throughout the
first half of 2009, where it has fo-
cused on offering carefully selected
units to its clients, through various
marketing methods and channels,
within both the sales and leasing
segments of its business.
Following a summer promotion-
al ‘Open Day’ event at its Jumeriah
Beach Residence branch in line with
the start of Dubai Summer Sur-
prises, it recorded an overwhelm-
Ashok J. Galgotia
The six-storey, low-rise building
located in the Arjan Master Com-
munity, a one-of-a-kind community
that promotes nature, greenery and
ing response to its summer offers
of inventory for sale and for rent.
“There were no signs of repressed
customers during our Open Day
weekend” said Jannie Biddulph,
Sales Manager, Better Homes. “Our
promotion received over 350 walk-
in customers, seeking both proper-
ties for sale and for rent.”
Since then, the company has fo-
cused on promoting competitive-
ly-priced units in areas of demand
and received over 1,400 calls in just
two days during the selected pro-
motions. “The positive result indi-
cates that despite the recent mar-
ket downturn, if the right product
is offered to the client at the right
price, at the right time, there is a
good opportunity to transact units
within both sales and leasing” said
Ms Billy Rautenbach, Director of
a family-first, amenity-rich lifestyle is
still a hot property among those on
the lookout for residences to move
into. La Fontana offers a choice of
105 units comprising studios, one-
bedroom and two-bedroom apart-
ments ranging from 352 square feet
to 1,219 square feet, all surrounded
by calming greenery and judicious
use of light and space.
And while property prices have
tumbled down as much as 35 per
cent since the start of 2009, Triveni is
maintaining a status quo on its cur-
rent offer, with prices ranging from
Dh498,600 for studios to Dh1,315,900
for two-bedroom apartments. “There
is no need to slash prices, because
the best thing about La Fontana is
Billy Rautenbach
Operations, Better Homes.
With a specific customer and the
right product in mind, it has been
able to successfully match buyers
and tenants with units, at a price
which aims to satisfy its clients, cre-
ating positive results. “For example,
our number of leasing transactions
COMMENTS
its value-for money location. Pro-
spective buyers appreciate the value
they will get in return for their invest-
ment,” continues Galgotia.
Galgotia likewise confirmed that
construction has been in full swing
since May 2009, and assured inves-
tors that the project will be delivered
just after Eid Holidays of 2010. The
change in completion schedule was
caused by a slight delay in the provi-
sion of permanent power and water
supply from the master developer of
the Dubailand community, Mizin.
Triveni Builders is a subsidiary of
Triveni Group, which has appointed
Al Shafar National Contracting L.L.C.
(ASNC) as the general main contrac-
tor for La Fontana.
is looking very positive”, added Ms
Rautenbach. “In May this year, we
executed 24 per cent more leasing
transactions than in May 2008”.
With general enquiries on the
increase and talk in the market of
mortgages becoming available soon,
Better Homes expects to see contin-
ued success in leasing and see an in-
crease in property purchases sooner
than expected. “As soon as lending
becomes available on a wider scale,
DUBAI REAL TIMES
we expect to see a rise in sales trans-
actions”, added Ms Rautenbach. “It is
difficult to forecast an exact trend,
but if the UAE real estate market, spe-
cifically in Dubai, is bottoming out
as many have suggested (and Bet-
ter Homes has noticed an increase
in prices in select areas), then now
would be the definitive time to invest 21
in property”.
 UPDATE
Burgeoning
projects
L
ieutenant General Dahi Khal-
fan Tamim, Chief of Dubai
Police, has made an official
visit to Dubai Industrial
City (DIC) in which he was briefed
about the various development and
infrastructure projects located across
the six zones of the industrial des-
tination. Dubai’s top police officer
and his delegation were welcomed
by Rashed Al Ansari, Vice President of
Dubai Industrial City, as well as heads
of departments at the destination.
The light and medium weight
industrial zone currently features 2.8
million square feet of open storage
yards, three million square feet of
warehouses in addition to 64 show-
rooms and four office buildings.
Dubai Industrial City is also witness-
ing the construction of 30 manu-
facturing facilities that are due to be
operational by the end of 2010.
The 560 million square feet proj-
ect is a comprehensive one stop-
shop industrial and commercial
destination featuring six industrial
clusters including food and bever-
age, base metal, mineral products,
chemicals, transport equipment and
parts, as well as machinery and me-
chanical equipment.
The Chief of Dubai Police was also
provided with an overview of safety
standards at DIC which will house
more than 500 light and medium
DUBAI REAL TIMES
22
industrial factories when the city is
completed in 2010. The industrial
destination is also expected to house
around 350,000 people across its in-
dustrial and commercial zones.
The delegation toured the main
offices of DIC, the offices of Dubai
Industrial Academy (DIA), and were
also given a presentation on the
growth and development of the city
and its future plans. They were also
introduced to the services of Taa-
sees, the largest government service
centre in the UAE through which
businesses can access the services
of ten government departments all
under one roof.
Lt General Dahi Khalfan said:
“Dubai Industrial City is one of the
strategic projects in the UAE that
plays a key role in promoting local
industry, supporting the national
economy, and elevating services to
international standards.”
Praising DIC’s efforts to create
an ideal environment for attracting
industrial investments, he called for
a proactive approach to facilitate
investment in the sector in addition
to re-examining any regulations that
might impede this progress. He also
noted the need for nurturing indus-
trial leaders through programmes
such as those currently being of-
fered at DIA.
Al Ansari said the visit underlined
the vital role the Dubai Industrial
City plays in supporting the indus-
trial sector across Dubai. “His visit re-
flects the increased cooperation be-
tween us through the exchange of
expertise and sharing of knowledge
on various issues of mutual interest
such as safety and traffic manage-
ment. These factors have assumed
added significance with several
factories commencing production
and development work progressing
across various parts of the city.”
Property prices in Jumeirah Vil-
lage have climbed by five to 30 per
cent from their low levels in January
this year, according to recent reports,
signifying an early recovery for the
Dubai property market, which has
witnessed a nine-month period of
decline. Driven by its commitment
to offering high-value units within
luxury community developments,
Memon Investments is fast-tracking
the construction of ‘Gardenia I & II’
- a project strategically located in
Jumeirah Village which has been
master developed by Nakheel, and
is set to provide authentic Mediter-
ranean-inspired residential, com-
mercial and retail space.
According to recent reports,
the 811-hectare integrated master
community has not been impacted
to the same degree as the large
number of residential properties in
various locations across Dubai, and
thereby presents a more profitable
investment option for property pur-
chasers today. Consequently, an in-
creasing number of investors are re-
portedly looking at Jumeirah Village
for a more solid investment oppor-
tunity with a lower risk percentage.
As one of the first to develop within
the Jumeirah Village development,
Memon Investments has reported
increased demand and inquiries for
its ‘Gardenia I & II’ project.
“Our capacity to identify the
best master developments to build
our projects in, not only in terms of
facilities and prestige but more im-
portantly in their potential to pro-
vide excellent investment returns, is
the foundation of our strength as a
developer,” said Ahmed Shaikhani,
Managing Director, Memon Invest-
ments.
Located near the Cultural Centre
and Central Park, Memon Invest-
ments’ five-storey residential devel-
opment will incorporate studios,
one and two-bedroom units; lavish
townhouses and loft apartments,
with retail units on the ground floor.
Based on the vision of Dimensions
Engineering Consultants (DEC), it
was splendidly designed with stuc-
coed walls, tiled roofs, rustic arches,
solid wrought iron balcony grills,
carved doors, ornamental spiral col-
umns, marble flooring with thematic
and floral patterns. Two leading sup-
pliers and contractors are also col-
laborating for the project, including
the International Foundation Group
(IFG), who is undertaking the Dh 2.4
million shoring and excavation con-
tract; and Shanghai & Arabian Elec-
tromechanical LLC (SAE), who will
install high-speed elevators within
the towers.

Facilities management in demand
L
ooking after buildings af-
ter they have been built
is big business nowadays,
and looking to get bigger
as laws are introduced to encour-
age centralisation of those who fix
things. Strata practices are being
adopted more and more by interest-
ed groups who are being taught the
‘do’s’ and ‘don’ts’ of hiring a plumb-
er, gardener, electrician, mechanical
engineer and other tradesmen and
professionals who see to our home-
ly and workplace needs. Wouldn’t
it be nice to just call one company
to organise all the others. Well, yes,
actually, it would be nice. It happens
elsewhere – Australia has an estab-
lished strata system for looking after
its buildings, projects and people –
and it going to happen in Dubai.
Imdaad, an integrated facilities
management company under Dubai
World, has announced plans to re-
cruit more staff this year to match
projected growth in its operations.
The decision will raise its staff count
by 25 per cent by the end of 2009
compared to the number of staff in
2008. Imdaad sees this as a strate-
gic necessity designed to meet the
increasing demand for its services
across an expanding geographical
footprint.
Jamal Abdulla Lootah, Chief Ex-
ecutive Officer of Imdaad, said: “The
decision to increase our manpower
base is a forward-looking strategy.
The company has set ambitious
targets for expansion in the region
and to cement our leading position
in the facilities management sector.
Augmenting our human resources
will enable us to meet our contrac-
tual commitments and deliver ser-
vices of the highest standards.”
The recruitment plan is consis-
tent with the steady expansion of
Imdaad’s workforce over the past
two years in line with its increasing
operations. The company’s current
manpower base shows an increase
by 26 per cent compared to the num-
ber of employees in 2007.
Armed with several new high-pro-
file FM contracts, Imdaad has already
set it expansion plans rolling by add-
ing to its service fleet, which present-
ly has 129 vehicles, including tipper
trucks, skip loaders, dump trucks, tip-
per trucks with cranes, double cabin
pick-ups, sand sweeping machines,
beach cleaners, buses, tankers and
compactors. New compactors and
other vehicles have been ordered to
strengthen waste collection and dis-
posal services.
In line with Dubai’s commitment
to sustainable development, Imdaad
has stepped up efforts to deliver
‘green services’ to ensure environ-
ment protection, and implement
all safety and health parameters at
its various projects. The Beati en-
vironmental awareness initiative it
launched in Dubai schools has gen-
erated a tremendous response from
the student community.
Imdaad provides integrated facil-
FACILITIES & SERVICES
ity management solutions and con-
sultancy from the conception to the
completion of projects, as well as
customised long-term FM solutions.
The company’s client base in-
cludes major corporate and service
establishments such as Nakheel,
Jafza, DP World, UAE Region, Dubai
Customs, Limitless and Tamweel.
Among major projects on its portfo-
lio are Palm Jumeirah, The Gardens,
Atlantis, International City, Jebel Ali
Port and Free Zone, Ibn Batuta Mall,
Dubai Maritime City and Wasl-DREC.
The increasing emphasis by the
UAE Government in the UAE on green
building regulations has boosted
demand for facilities management
(FM) services not only in buildings
under construction but in existing
buildings as well, noted Sungwon
OBO, a member of Makateb Hold-
ing. Sungwon OBO pointed out
that while it will primarily focus on
providing facilities management ser-
vices to buildings in various stages of
construction that are committed to
adopting new green building regu-
lations, it is also expecting a height-
ened demand for its consultancy
services from owners of existing
buildings who wish to reap the ben-
efits of a sustainable facility.
Eric Raes, CEO of Sungwon OBO,
said, “With the UAE Government’s
growing focus on green buildings
and sustainability, both developers,
and in several cases, owners of exist-
ing buildings, are keen to improve
day-to-day operations in energy
consumption, water use, indoor en-
vironment, and waste management.
Incorporating sustainable practices
in existing facilities will result in sig-
nificant financial benefits in the long
run, and building owners will not be
burdened by the costs involved in
replacing existing building systems
if the improvements are made one
step at a time. The company intends
to complement government initia-
tives to promote sustainability by of-
fering our expertise to developers in
designing and constructing facilities
that truly adhere to internationally
accepted green building standards.”
Raes highlighted that in the case
of new buildings, the development
of truly sustainable facilities must
start at the drawing board to en-
sure that buildings are designed
to match their intended purpose,
which will ultimately help cut down
maintenance costs, improve build-
ing efficiency and ensure sustain-
ability. He noted that the success
of this process to a large extent de-
pends on the expertise of architects
and building designers to effectively
integrate green building concepts in
the design.
A green building is an outcome of
a design which focuses on increas-
ing the efficiency of resource use
— energy, water, and materials —
while reducing building impacts on
human health and the environment
during its lifecycle. This is achieved
by efficiently using energy, water,
and other resources; protecting
occupants, health, improving em-
ployee productivity, and reducing
waste, pollution and environmental
degradation.
Aside from a comprehensive
range of FM services, which include
mechanical and electrical mainte-
nance, cleaning, security and energy
DUBAI REAL TIMES
management, Sungwon OBO also
provides consultancy service dur-
ing the design and construction of
building developments to help im-
prove the building’s lifecycle. The
expanded line-up of services is part
of its growth initiatives in the UAE’s
FM market, where the company
aims to grow between 15 to 20 per 23
cent within the next three years.
 FACILITIES & SERVICES
Energy reduction
By Alice Tapfield
E
nergy reduction has be-
come a hot topic of global
discussion recently for
both environmental and
financial reasons, since in addition
to saving the planet, ‘going green’
can also help to save money. The
subject is particularly relevant given
the current financial climate, and
especially so for the UAE, where en-
ergy consumption has quadrupled
over the last two decades. Accord-
ing to a report issued last year by
the World Energy Council, the rate
of consumption is now estimated
to be around 10 per cent annually,
which is both environmentally and
financially unsustainable.
At present, the UAE’s energy (in
this article meaning electricity) is
generated mainly from natural gas,
supplemented by oil where neces-
sary. The country is at the forefront
of global efforts to develop alter-
native energy sources such as solar
power, but as renewable technolo-
gy alone cannot yet satisfy high lev-
els of demand for power, reducing
consumption still remains crucial.
The need for more prudent us-
age should not, however, cause
alarm. Since energy is often used
wastefully, cutting back should be
achievable simply through improv-
ing energy efficiency, leading to
potentially huge cost savings for
consumers, businesses and the
economy as a whole.
DUBAI REAL TIMES
Knowledge is power: How
energy efficiency in build-
ings can save costs
Although many power-saving mea-
sures are widely known today, a cer-
tain lack of awareness still generally
24 exists about why and how to con-
serve resources. This has been rec-
ognised by the Dubai Government,
which has begun a co-ordinated
effort to educate the public in this
matter. Both the Dubai Municipal-
ity and DEWA (Dubai Electricity and
Water Authority), for example, are
running numerous programmes
aiming to demonstrate how energy
efficiency helps to protect the envi-
ronment as well as leading to sub-
stantial personal savings.
“Through a series of initiatives
towards safe-guarding the environ-
ment, such as the ‘Best Consumer’
and ‘Conservation for a Better To-
morrow’ campaigns, DEWA aims
to encourage the community to
adopt and endorse green concepts
within their homes and offices,” ex-
plained Engineer Amal Koshak, Se-
nior Manager of Demand and Tariff
Management at DEWA. “We believe
this will have a sustainable impact
on our immediate surroundings
and also motivate other stakehold-
ers across the region to emulate our
example.”
Statistics show that the schemes
are already making a substantial im-
pact among the public. According
to DEWA, electricity consumption
decreased by six per cent and water
use dropped by 37 per cent amongs
all sectors which participated in the
DEWA ‘Your Decision’.
campaign in 2008. This suggests
“We believe this will that consumers across all sectors
have a sustainable are keen to embrace new methods
for increasing energy efficiency.
impact on our immediate
There is undeniably a strong
surroundings and case for sustainable living and re-
also motivate other ducing our carbon footprint from
an ecological perspective, which is
stakeholders across the reason enough to cut back on con-
region to emulate our sumption. However, the monetary
example” advantages to energy saving are
equally clear, and assuming (if cyni-
Amal Koshak cally) that the majority of people

Dubai is positioning itself
to be one of the world’s
greenest cities and this
collaboration between DEWA
and the Dubai Municipality
will result in the world’s first
comprehensive system of
green building regulations
are motivated more by potential
financial gain than environmental
concern, classic economics should
dictate a decline in consumption.
Yet energy continues to be squan-
dered on a surprisingly large scale
in Dubai, which suggests a block-
age somewhere in the proverbial
system.
Government initiatives to
lead the way
Dubai is serious about tackling en-
vironmental issues, and as part of its
Strategic Plan 2015, it is committed
to setting a global precedent in sus-
tainable development. While the
government has always been reluc-
tant to impose legislation unnec-
essarily, the effects of the market’s
‘invisible hand’ are still not as appar-
ent as one might expect in the cur-
rent financial climate, where cost-
cutting has become of paramount
importance across all sectors.
Realising, therefore, that regu-
lation would speed up the drive
to ‘go green’, in October 2007 a
directive was wisely issued by His
Highness Sheikh Mohammad Bin
Rashid Al Maktoum, Vice-President
and Prime Minister of the UAE and
Ruler of Dubai, stipulating that
all construction within the Emir-
ate must henceforth comply with
green building regulations. Follow-
ing a thorough review of over 250
international rating systems, includ-
ing US-based LEED, UK BREEAM and
Australian Green Star, the Dubai Mu-
nicipality and DEWA will shortly be
issuing a new green code. This will
cover all aspects of building design,
construction and operation and will
be mandatory, thereby surpassing
all other (voluntary) international
apparently been reluctant to cut
back.
Paying for what you
use... cutting costs with
consumption-based
energy billing
One possible reason for the con-
tinuing disinclination to save energy
is that prudent usage is not being
fostered through current meth-
ods of billing. Currently, although
Kamal Azayem
all buildings in Dubai are metered,
building codes in the scope of their the choice still lies with develop-
application. ers as to how tenants are charged
Kamal Azayem, Mechanical En- for electricity and water consump-
gineering Expert at the Dubai Mu- tion. Consequently, many landlords
nicipality, is the co-ordinator of the have traditionally chosen to include
green building committee from the utility payments within annual rent
Municipality’s side. “The green build- or service charges, be it for ease of
ing regulations we are developing implementation and/or financial
will be instrumental in helping to gain. Usually, the total energy bill
save energy and water throughout for a building is divided between
the Emirate”, he commented. “Dubai individual units based on their floor
is positioning itself to be one of the area. The system therefore assumes
world’s greenest cities and this col- that greater floor space equates to
laboration between DEWA and the higher power consumption, which
Dubai Municipality will result in the neither rewards tenants who use
world’s first comprehensive system less power, nor penalises those who
of green building regulations.” use more. This creates no incentive
The legislation, which will be to save; residents must pay for en-
implemented in four tiers and apply ergy even when it is not required,
to both new and existing buildings, and this inherent unjustness has
will undoubtedly accelerate adher- led to many recent complaints from
ence from developers in Dubai to tenants.
energy-saving. Yet the question Juergen Schmidhofer, is a flat
still remains as to why, given the owner in Discovery Gardens, where
potential cost benefits of conserv- residents are charged Dh11 per
ing power, consumers have so far square foot for cooling energy.
Landlords who are able to keep their
costs down and consequently offer
lower, and more equitable, service
charges to tenants automatically
become more attractive than their
less energy-efficient competitors
“Regardless of actual usage, every-
one here pays the same,” said Mr
Schmidhofer. “This system is ex-
tremely wasteful and it would be
much more efficient, and cheaper
for all of us, if we were metered.”
Studies carried out by the E.V.V.E.
(European Association for the con-
sumption-based billing of energy
costs) have shown that energy
and water consumption is typi-
cally around 20 per cent lower in
sub-metered buildings. This points
to a direct and positive correlation
between tenants’ responsibility to
pay for what they use and their pru-
dent consumption of resources. As
such, real estate developers stand
to make substantial gains from in-
stalling advanced metering and
billing systems in buildings, since
the cost savings from lower energy
consumption can be passed on to
tenants in the form of lower ser-
vice charges. The latter now repre-
sent an important factor for both
residential and commercial tenants
in choosing new premises, so the
ability to reduce fees is significant
for developers.
A high proportion of service
charges are frequently attributed
to cooling energy, so landlords
who are able to keep their costs
down and consequently offer
lower, and more equitable, service
charges to tenants automatically
become more attractive than their
less energy-efficient competitors.
With this in mind, metering and
DUBAI REAL TIMES
25

Fergus Appleton
billing systems also constitute a
powerful weapon in the armoury
of FM companies. The latter will
be directly answerable to Home
Owners’ Associations as soon as
Strata Law takes effect in Dubai,
and therefore must be able to ad-
vise clients about the most energy-
efficient products and services on
the market if they are to remain
competitive and renew existing
contracts.
“One of the most important
roles of the Facilities Manager is to
improve the energy efficiency of
buildings by making the most of
their existing technology,” said Fer-
gus Appleton, General Manager of
Towers and New Business at Con-
cordia Community Management.
“Many buildings don’t currently
have centralised, energy manage-
ment technology in place so FM
companies need to adopt an in-
novative approach and utilise their
resources effectively to constantly
improve efficiency.” Mr Appleton
emphasised that the really suc-
cessful FM companies will be those
which address the specific needs
of the end user. “Approximately 45
to 55 per cent of a building’s bud-
get is currently taken up by utilities.
Therefore, in addition to providing
excellent overall FM service deliv-
DUBAI REAL TIMES
ery, facilities managers must also
focus on increasing the efficiency
of buildings in order to minimise
the environmental impact and
overall cost.
“Concordia has achieved some
fantastic results from implement-
ing practical energy management
26 strategies (we reduced chilled
“One of the most
important roles of the
Facilities Manager is
to improve the energy
efficiency of buildings
by making the most
of their existing
technology
water consumption by over 40 per
cent on one contract) at little extra
cost,” he added. “The companies
that pay attention to detail, moni-
tor the information frequently and
constantly tweak their solutions will
lead the market.”
Looking to the future
The most forward-thinking real es-
tate developers realised a long time
ago that energy-efficient buildings
are potential future goldmines, and
consequently incorporated sustain-
able designs at the outset. Others
have now seen the (green) light
and are busy retro-fitting. The forth-
coming building regulations will
soon oblige the rest of the industry
to follow suit and will undoubtedly
assist in reducing energy consump-
tion throughout the emirate.
The carrot-and-stick approach
is generally accepted as an effec-
tive method for change, even if the
relative proportions remain in dis-
pute. In the case of energy saving,
the stick is regulation, with the car-
rot being the potential financial re-
wards from cutting consumption.
Yet it seems that this particular
carrot is currently dangling out of
reach for many consumers. That is,
a reason why energy saving is not
widely taking place in Dubai, could
… landlords who
are able to keep their
costs down and offer
lower, and more
equitable, service
charges to tenants
automatically become
more attractive than
their less energy-
efficient competitors.
be that people are unable to reap
the benefits it should bring in the
form of lower bills. So far, no leg-
islation exists in Dubai governing
metering requirements. The Emir-
ate is, however, fully aware of the
need to preserve its precious en-
ergy resources; significant savings
have been achieved in other parts
of the world through introducing
comprehensive regulations for me-
tering and billing practices, and this
presents a strong case for Dubai to
do the same.
As His Highness Sheikh Mo-
hammed has stated “energy con-
servation represents one of the
greatest challenges today towards
sustainable development. Dubai
has already set the wheels in mo-
tion through some excellent gov-
ernment initiatives, of which the
forthcoming green building code
will represent a global first in the
scope and depth of its coverage.
While the support of consumers for
energy conservation is also growing,
for both economic and ecological
reasons, creating further financial
incentives to save would acceler-
ate the process and help to assure
Dubai of its status as a future world
leader in environmental practices.
Alice Tapfield is Senior Editor at Bridge
Media News
 HANDOVERS

A set of keys
A
t a time when the word
property lies hand-in-
hand with the word un-
certainty it is a pleasant
surprise to note that buildings are
being built, owners are collecting
their keys and the business of mov-
ing in and living a life are going on
quietly in the background of every-
day life.
Zabeel Properties has officially
handed over its first development
to its owners at Tiara Residence,
comprising of 644 resort style resi-
dences, located on the main trunk
of Palm Jumeirah. About 70 per cent
of the development has been sold
and home owners began moving in
during April.
Emaar Properties has highlighted
its commitment to project deliv-
ery, despite the challenges of the
global financial crisis, with the hand
over of Alma townhomes in Ara-
bian Ranches five months ahead of
homes in November but has now the Coral, Jade, Ruby and Sapphire Commerce and Media (TECOM) free
completed the villas and customers Residences. This follows the recent zone, and brings the total number
were given a preview of the homes delivery of all 312 units at Madison of projects delivered in the first six
before the hand-over process start- Residency in the Technology, E- months of this year by Deyaar to
ed in June.
Mr Ahmad Al Matrooshi, Manag-
ing Director – UAE, Emaar Properties,
said: “Emaar achieved this milestone
by working in close cooperation
with contractors and consultants
with a focus on optimising resource
use efficiency and maximising pro-
ductivity.”
Emaar is progressing on the com-
pletion of its projects, which are in
varying stages of development. The
company has four established com-
munities in Dubai already – Emirates
Living, Arabian Ranches, Dubai Ma-
rina and Downtown Burj Dubai.
Dubai Silicon Oasis
Omniyat Properties has handed
over the keys of Bayswater, its com- five, the company added.
mercial tower in Business Bay, to
“Emaar achieved this Joint-venture partners, Nakheel
investors. The scissor-shaped tower and IFA Hotels and Resorts have
has 293 offices and 11 retail units. milestone by working started handing over the keys to
DUBAI REAL TIMES

schedule. The company had recent-
ly also completed and handed over
La Avenida, a cluster of 17 luxury
villas within Arabian Ranches, eight
months ahead of schedule.
Acommunity of 212 luxury
homes, Alma townhomes had
gained overwhelming investor re-
sponse when launched in 2007.
Emaar was to have delivered the
Omniyat Strata Management will
control and manage the administra-
tive and financial requirements of
the building's common facilities and
assets.
Dubai-based Deyaar Develop-
ment has begun handing over all
470 residential units at four of its
residential projects at Dubai Silicon
Oasis. The four projects comprise
in close cooperation the residential units at Golden Mile
on Palm Jumeirah. Golden Mile is
with contractors and made up of 10 buildings with a to-
consultants with a tal of 860 residential units, in addi-
focus on optimising tion to the first freehold offices on
Palm Jumeirah, as well as an exten-
resource use efficiency sive retail area. All residential units
and maximising are managed by the neighbour-
productivity.” ing Fairmont Palm Jumeirah hotel, 27
which is set to open in 2010.
 UNDER CONSTRUCTION

Cranes are moving

M
any cranes in Dubai
are actually mov-
ing as construction
moves on at a less
hectic pace. Cement is still being
poured and interior designers are
sharpening their pencils waiting to
beautify these edifices.
Cayan Investment and Develop-
ment has announced that it iconic
Infinity Tower development in
Dubai Marina has accelerated its
construction work and has already
achieved significant progress on
site. The 80-storey tower, which will
offer a spiral view with a 90-degree
curve design to give a stunning
view of Dubai Marina, has reached
floor 16 of the core wall and floor

seven for the typical floors. The
podium levels, which make up six
floors, are all complete. Arabtec,
the main contractor for the proj-
ect, has over 1,000 workers on site,
working around the clock on shifts
to ensure the construction schedule
is followed.
In his comments on the project
construction, Mr. Ahmad Al Hatti,
DUBAI REAL TIMES
the other hand, has accelerated its
construction work on site.”
The development has already
garnered a total of six design
awards over the last three years,
including the International Archi-
tecture Award from the Chicago
Athenaeum. Cayan has already
carved a niche with the hand over
of La Residencia Del Mar, Dorrabay
the main consultant.
Memon Investments has an-
nounced that it is on track with
the construction of all its projects
in Dubai, which are collectively
valued at Dh1.34 billion. The devel-
oper is asserting its commitment to
delivery, despite the massive delays
and cancellations of 48 real estate
projects in the UAE. The report,

Chairman of Cayan, said: “Cayan In-
vestment and Development has al-
ways remained committed to time-
frames on its various projects and
Infinity Tower is no exception. We
have moved from basement to level
seven in the past six months when
recession has hit hard and where
28 many developers have stopped or
slowed down their work; Cayan, on
and The Jewels projects in Dubai
Marina and Cayan Business Centre
in Tecom.
Arabtec Construction LLC is
the main contractor for the proj-
ect, while Drake & Scull has been
awarded the MEP works. Khatib &
Alami are local consultants for Infin-
ity, Currie & Brown are the Project
Management Company and SOM is
which was released by REIDIN.com
also revealed that the majority of
the troubled projects are high-end
residential and commercial devel-
opments, as the drop in sales and
strict financing have forced devel-
opers to reconsider their project’s
viability.
Underlining its capacity to pro-
ceed with the construction of all its
launched projects given its strong
financial standing, Memon Invest-
ments has pointed to the first de-
velopment within its ‘Champions
Tower’ series, and the ‘Cambridge
Business Centre’ which is expected
for delivery by the end of 2009. Hav-
ing strictly adhered to the Escrow
Law and registered with the Real
Estate Regulatory Agency (RERA),
the developer is expecting a boost
in investor confidence as a result
of its efforts to ensure security for
their investments.
“The global recession has cre-
ated an astounding backlash to the
regional real estate sector that has
even the largest real estate players
in the region reeling from its blows,”
said Ahmed Shaikhani, Managing
Director, Memon Investments. “We
are proud to be still standing strong
amidst the downward momentum
that is sweeping the regional real
estate market, and we believe that
this has been the result of our un-
wavering commitment to meeting
our clients’ needs, combined with
our strong fundamentals and finan-
cial backing. We are confident that
the current economic conditions
will have little effect on the con-
struction of our projects.”
Memon Investments has
launched a total of five projects in
Dubai Sports City, including four
towers within the ‘Champions
Tower’ series and ‘Frankfurt Sports
Tower I’, in addition to 'Gardenia I
& II’ in Jumeirah Village, and 'Cam-
bridge Business Centre' in Dubai
Silicon Oasis. In line with the re-
ported decline in the construction
cost per square foot within the UAE
since the onset of the economic
crisis, the developer has committed
to further strengthening its part-
nership with leading construction
companies.
“The challenges posed by the
current economic crisis are true
Omniyat Asset
Management
(OAM) has signed
a Memorandum of
Understanding (MoU)
with Dubai-based u
concept, a premier
health and fitness
service provider, to
offer unique lifestyle
services to tenants
of the Dh507 million
One Business Bay,
which will soon be
delivered. Under the
agreement, u concept
will operate the entire
podium roof consisting
of approximately
21,500 square feet for
recreational, beauty
as well as food and
beverage offerings
measures spearheaded by the UAE and Relaxation. needs and is committed to tai-
Government. Through the com- The OYSTER is built on the belief lored wellness plans. A customised
bined efforts of the government that developing ground-breaking health programme is devised to
and the industry, I have high hopes and interactive work facilities can enable individuals to reach specific
that we will be able to weather the contribute to revolutionary high goals centred on stability, strength
challenges brought by the current work performance. The concept and power.
slump in the market,” concluded was originally introduced after the Another offering is ‘u fuel’, which
Shaikhani. launch of One Business Bay, but pertains to all nutritional aspects –
Omniyat Asset Management Omniyat has allocated additional advising and educating individu-
(OAM) has signed a Memoran- budget to integrate these services als on healthy eating habits that
dum of Understanding (MoU) with and principles into its current flag- complement one-to-one training.
Dubai-based u concept, a premier ship. The company is dedicated to Food is freshly prepared at the res-
health and fitness service provider, constantly enhance the personal taurants, fit for a gourmet and tai-
to offer unique lifestyle services to well-being of people who live and lored to the specific dietary need
tenants of the Dh507 million One work in Omniyat buildings. of each person. The food services
Business Bay, which will soon be OAM, the Dubai Business Bay are available as part of the overall
DUBAI REAL TIMES

tests to the commitment of or-
ganisations to delivering their
promises and to their resolve to
overcome difficult situations. As an
established player in the real estate
realm, we have taken the necessary
adjustments to combat the reper-
cussions of the crisis, which we be-
lieve can be further countered with
a continuous stream of positive
delivered. Under the agreement,
u concept will operate the entire
podium roof consisting of approxi-
mately 21,500 square feet for recre-
ational, beauty as well as food and
beverage offerings. This area will
form the cornerstone of the OYS-
TER, and Omniyat lifestyle initiative
which stands for Offices Yielding
Superior Targets through Efficiency
specialists, together with u con-
cept will be the first to give life
to this harmonious workplace
focused on providing a healthier
work/life balance for the first batch
of office workers in Business Bay.
u concept has made its name
with a custom offering called ‘u
plan’, working on the premise that
each person has unique fitness
wellness plan, but also provide a
healthy and considered alternative
for business lunches.
OAM and u concept will work
closely on diversifying the OYSTER
offering into new categories and
avenues across the Omniyat Port-
folio, making them a strong player
in the healthy lifestyle business 29
sector.
 FOCUS

A defiant
mood The Big 5 PMV, now in its third year, will be staged at the Dubai International
Convention and Exhibition Centre alongside the Big 5, from 23-26 November, 2009

Companies are defying the global slump by putting their minds to a variety of ways to continue
working hard to deliver their goods. Work is continuing on building projects and keys to
completed properties are being handed over to owners. Interior designers and office furniture
suppliers reap rewards by updating and modernising businesses which have decided to rent
and stay in their present locations. There is now time too, to sit, think and draw up feasible
telecommunications infrastructure plans for both future and current buildings. Even old
machinery is being given a new lease of life as auction companies sell off previously owned
industrial equipment to overseas customers.

T
he construction industry is
showing signs of defiance
with over 200 projects com-
pleted or to be completed
this year, more than the total for the
whole of 2008. Research by industry
analysts Proleads has revealed that
only 2.4 per cent of UAE construction
projects worth $1.28 trillion, which
were under way at the start of the
year, have been cancelled.
DUBAI REAL TIMES
Big 5 PMV, the specialised focal point
of the exhibition for manufacturers
and suppliers of construction plant,
machinery, vehicles and equipment.
Peter Sutton, Vice President – Ven-
ues at DWTC said: “Building on the
success of the decision to relocate
the Big 5 PMV to Dubai World Trade
Centre last year, which led to a 29 per
cent increase in visitors over 2007,
Car Park C site is undergoing signifi-
turers Scanclimber, see a silver lin-
ing for the construction equipment
business and the industry as a whole.
“The construction industry is witness-
ing a slowdown at the moment, but I
believe that if the right measures are
taken by the governments, things
will start picking up again by the end
of the year,” said Aamer Hammoudi,
General Manager, Al Nawi Group.
Hammoudi said the economic cri-
eas that are productive and gener-
ating business. Now is not the right
time to expand.”
While the UAE had a strong
presence with 72 exhibitors, the
international pull of the show and
the lucrative nature of the Middle
East construction sector were high-
lighted by the fact that 28 countries
were represented including Italy,
Germany, France, USA, Taiwan and

The figures were highlighted as
development plans were released
for the Big 5, one of the world’s larg-
est trade shows for the construction
industry, when it takes place for the
30th year in Dubai in November. A
new purpose built temporary struc-
ture and outdoor exhibit area is be-
30 ing constructed at the Dubai World
Trade Centre to accommodate the
cant re-development. The entire site
is being levelled and surfaced with
a grid network laid throughout for
electrics and drainage and the PMV
indoor area will be a fully functional
purpose built temporary structure.”
Despite negative effects of the
recession on the construction sector,
companies like Al Nawi Group, UAE
representatives of Finnish manufac-
sis has led to the company focusing
its resources on serving its existing
top five customers who generate 80
per cent of sales in the Middle East.
“We know that these customers have
projects that will take us through the
downturn. At the same time, we are
streamlining our operations to cut all
unnecessary overheads. We are care-
fully applying our resources into ar-
China.
Summertown Interiors has found
that the economic downturn has a
positive side for business. The de-
sign team has seen a trend in many
corporations investing in new office
fit-outs and refurbishments for their
office space; using money saved as
a result of the decrease in the rental
market. “In this current economic
climate commercial rental proper-
ties have adjusted, at times falling
by up to 40 per cent, and this has
opened up avenues for new busi-
ness for us. Some corporations have
almost halved their rental costs and
many have been directing this extra
capital to new office fit-outs or of-
fice refurbishments or alternatively
some decide to move premises as
they get more value for their mon-
ey in terms of location or square
metres” said Marcos Bish, Managing
Director, Summertown Interiors.
A market leader in eco-friendly
design, the company is compliant
with the Leadership in Energy and
Environmental Design (LEED) certi-
fication, in the gold category. In a
time of economic crisis, the LEED
certification is a further coup as
businesses are realising that they
can actually save money with their
new or refurbished office, whilst si-
multaneously minimising the com-
pany’s corporate carbon footprint.
“There has been a significant
increase in the uptake of green ini-
tiatives in the UAE, as companies
become more aware of cost-sav-
ings during the current economic
climate. By incorporating environ-
mental designs which are LEED
compliant, we can create an office
which uses up to 35 per cent less
energy, 40-50 per cent less water
and can divert over 90 per cent of
its waste from the landfill. When
you add all this up on a yearly basis,
it can be a considerable saving for a
company,” said Bish.
The company recently opened
its new corporate headquarters and
showroom in Jafza (Jebel Ali Free
Zone), Dubai. The new premises of-
fer water efficient fixtures to reduce
water consumption; usage of LEED
certified furniture, products and
materials with high recycle content
and reduced energy consumption
through sensor-controlled lights.
The premises also incorporated
into their design star-rated energy
electrical equipment; indoor CO2
monitors; water usage reduction
through sensor based systems and
waste segregation for recycling pur-
poses – all of which will save money
for the company.
Buildings Department of Dubai
Municipality organised its fifth
Summertown Interiors headquarters and showroom in Jebel Ali Free Zone
meeting with the engineering of-
fices and construction companies,
developers and government prop-
erty firms in Dubai. The meeting,
which comes within the framework
of the municipality's commitment
to the continued development to
provide services for customers, was
held at its training centre in June. It
introduced the World Bank's con-
cept of building licensing process
and the necessary steps for the es-
tablishment of a comprehensive
building, starting from the land map
to getting an NOC, submitting plans,
obtaining building permits, require-
ments of the work site, supervision,
obtaining completion certificates
and application procedures for final
delivery of the services.
Eng. Khalid Mohammed Saleh,
Director of the Buildings Depart-
ment pointed out that the purpose
of this meeting was to reduce build-
ing permits procedures and to hear
the complaints of owners of com-
panies, consultants and contractors
regarding the issuance of permits
and approvals by the municipality.
He noted that the municipality has
carried out a study of the building
permit process, to develop and im-
prove the licensing and construction
process within Dubai to raise the lev-
el of international competitiveness,
and has an inventory of all the steps
required (compulsory and optional)
of the construction of buildings in
all stages, in addition to holding a
number of workshops within and
outside the Municipality with the
clients.
United Corrosion Technologies
(UCT), a provider of corrosion engi-
neering services and solutions has
launched a new range of innovative
products that safeguard against the
financial and structural threat of cor-
rosion of exposed steel rebar. The
launch of the product range comes
at a time when a large number of
projects in the region are on ‘hold’
or progressing at reduced pace,
leaving rebar exposed to the ele-
ments. Steel reinforcement corrodes
rapidly when exposed for prolonged
periods to the erosive environment
of the Arabian Gulf region, making
protection and preservation vital.
UCT’s new range of products is
available in many forms, allowing
the prevention of flash rusting and
providing protection of exposed re-
bar for up to five years. Without such
treatment, the resultant accelerated
rates of corrosion can compromise
the future integrity of the struc-
ture, with potentially severe safety
and cost implications. The com-
pany’s products have been utilised
in many projects throughout the
Middle East, including Burj Dubai,
the world’s tallest structure.
In-line with its commitment to
bringing top of the line telecom-
munication services to its custom-
ers, du has introduced new building
infrastructure guidelines supporting
FTTx technology. This will benefit
all categories of property develop-
ments to include existing and new
projects, in terms of providing state
of the art, future proof telecommu-
nications and multimedia services to
their tenants.
Existing and future property
developments will benefit from the
latest building infrastructure guide-
lines leading to increased flexibility
in installing telecom infrastructure,
reduced efforts and space, and less
complexity in managing electrical
installations. These guidelines cover
different building types like resi-
dential villas, buildings, commercial
towers, shopping malls and others.
It is structured to cover all aspects
of telecom infrastructure such as
telecom spaces, electromechani-
cal works, pathways and telecom
cables specs. The complete guide-
DUBAI REAL TIMES
lines are available for viewing and
download on www.du-noc.ae The
brochure guides property develop-
ers through a No Objection Certifi-
cate (NOC) process that includes de-
sign validation, materials checking
and site inspections, through to final
implementation.
31
 FTTX overview
F
TTX is a form of fibre optic
communication delivery
in which the optical signal
reaches the end user’s liv-
ing or office space. It can carry high-
speed broadband services integrat-
ing voice, data and video on a single
connection. Other acronyms such as
FTTP, or FTTB are used, but these are
essentially interchangeable. FTTH is
becoming the catch-all description
for all fibre to the home, premises,
business and “x” technologies.
From September this year, SMG
(Specialised Management Group)
will run courses for women by wom-
en. This initiative is in response to the
growing interest in women working
in projects and their desire to learn in
a non-mixed environment. Courses
will range from basic to advanced
project management and will include
preparation courses for certification
as a project management profes-
sional. The courses will be tailored to
suit the female project management
professional and will be adapted to
relate directly to the industries in
which female attendees work.
“The interactive nature of our
courses means that all attendees will
be able to get involved in activities
while still adhering to cultural sensi-
tivities,” said James Norbury, Execu-
tive Director of SMG. “Women are
natural multi-taskers and the very
nature of projects requires this skill.
There is a need for more qualified
women to work in projects as man-
DUBAI REAL TIMES
32
You can win the Coca-Cola Light Very Important Apartment (V.I.A.) at
UPTOWN MotorCity
agers and project team members”.
In the UAE, local literacy rates of
women currently match those of
men, and there are now more wom-
en at university than men. Women
are accountable for an increasing
portion of the national workforce
and occupy jobs ranging from teach-
ing and healthcare, to engineering
and banking. Many women have se-
cured senior roles and work in vary-
ing positions within an organisation.
The recognition of the value and
skills of women in a modern Arabic
and Islamic society has given rise to
women making their presence felt
in the workplace.
For women, achieving the Certi-
fied Associate in Project Manage-
ment (CAPM) qualification is much
easier than it used to be, requiring
23 hours of project management
training from a recognised PMI in-
stitution, followed by an exam. This
globally recognised qualification
can lead to greater earnings, career
opportunities and advancement,
and greater recognition from peers.
The credential also increases project
management skills and knowledge.
Dubai witnessed the exciting
unveiling of the luxurious Coca-
Cola Light Very Important Apart-
ment (V.I.A.) in June at Uptown
MotorCity. In line with the recently
launched Coca-Cola 2009 “Open
Happiness” campaign, Coca-Cola
Light introduces one lucky winner
from the region to experience the
glamorous side on the Coke Side of
Life. Tune into MBC’s hit show Style
& Stars to catch a glimpse of the
most tastefully done, hip, exquisite
and modern three-bedroom, fully-
furnished apartment and enter the
regional SMS draw for the V.I.A.
The company has taken a life-
style route to highlight the modern
well-being and contemporary living
aspects of the brand through part-
RB Auctions in Jebel Ali held its busiest ever sale in June
nership with Union Properties (UP),
one of the UAE’s leading property
developers. In cooperation with the
ongoing Dubai Summer Surprises
(DSS), the campaign makes its debut
during the region’s most famous, an-
nually-awaited festival, bringing lim-
itless opportunities with elements
of fashion, glamour and style.
MBC’s Style & Stars TV pro-
gramme, airs every Thursday at 8pm
UAE time during which Aline Watfa,
Lebanese supermodel and popular
host guides fans through the V.I.A.
each week and welcomes celebri-
ties, designers and personalities to
the apartment. The contemporary-
chic V.I.A, decorated by popular in-
terior designer Bara Zaher, will also
become a home to one-of-a-kind
celebrity signed souvenirs and me-
mentos.
Entrants must be 21 years or
above and a resident of the UAE,
KSA, Syria, Jordan, Qatar, Bahrain or
Kuwait. The competition will run
until August 9, 2009. Regional SMS
codes will be broadcast every week
on the Style & Stars show and are
also available on www.cokelightvia.
com The winner will be revealed
on the final show airing on August
20, 2009.
Regional auction companies
have been reporting an upturn in
sales despite, or perhaps because
of, the economic slowdown. Earlier
in the month, RB Auctions in Jebel
Ali held its busiest ever sale at the
location. Almost 700 people from 50
countries registered to bid in person
or online at the unreserved auction
of construction and other machin-
ery.
Around 2300 heavy equipment
items and trucks were sold over
three days, generating almost $46
million in gross auction proceeds,
with around two-thirds of the items
finding homes with overseas bid-
ders. A lot of the equipment went to
buyers from the Middle East, though
there were bidders on-site at the
auction from as far away as Singa-
pore, India and Africa.
“The auction went exceptionally
well,” said regional manager Steve
Barritt. “This was our first Dubai auc-
tion in which we sold more equip-
ment to buyers from outside the
United Arab Emirates than within.

The Jumeirah Lakes Towers Zone
R
egistered member compa-
nies of Dubai Multi Com-
modities Centre (DMCC)
can now be part of the fast-
growing community at Jumeirah
Lakes Towers (JLT), with direct and
immediate access to all commodity-
related facilities being offered by the
Centre. According to an announce-
ment from DMCC, all member
companies, including those await-
ing membership approvals, will be
brought together to form a physi-
cal commodities cluster within the
200-acre JLT free zone, facilitating
optimum operational and admin-
istrative streamlining. This will also
enable DMCC’s registered members
to access a comprehensive com-
modities knowledge base compris-
ing all stakeholders of the trade,
and will facilitate the development
of mutually beneficial synergistic
relationships across the entire value
chain of each commodity sector.
According to the announcement,
DMCC member companies, which
DMCCA sets Jumeirah
Lakes Towers plan for
members
istered members make use of the
exceptional advantages that Jumei-
rah Lakes Towers currently offers,
including low property and rental
rates. DMCCAuthority members can
now choose from a variety of prop-
erty options at any of the 79 towers
within JLT, the first mixed-use free
zone in Dubai offering freehold
property options. Core commod-
ities-related businesses operating
within the JLT free zone are issued
DMCC licences while others (non-
commodity related) are issued JLT
free zone licences.
Ahmed Bin Sulayem, Executive
Chairman of DMCC, said: “This ini-
tiative aims at long-term growth
for the commodities industry via
the creation of a dedicated cluster.
DMCC has taken great care in de-
signing the business facilities here,
to offer our members the best in
all areas. The move will facilitate
higher integration of the commodi-
ties market, sharpen our members’
competitive edge and strengthen
months of 2009 saw a total of 281
registrations being issued in JLT and
DMCC. This included 85 DMCC core
member company registrations,
142 registrations for JLT-based com-
panies and 54 Residential Service
Company (RSC) registrations.
DMCCA is also working closely
with the sub-developers of the
Jumeirah Lake Towers project to
ensure that the towers and office fa-
cilities are completed on schedule,
which will help companies finalise
their relocation strategy.
Commenting on the new initia-
tive, Sudhakar Tomar, Managing
Director, HAKAN AGRO DMCC, a
DMCCA member company, said:
“We consider this a wise move. Op-
erating from the JLT Zone as a com-
munity will streamline commodities
trading activity in Dubai. The free
zone advantages and the state-of-
the-art facilities are sure to provide a Almas Tower (Almas meaning ‘diamond’
competitive edge to companies.” in Arabic) is a landmark building,
The JLT zone is Dubai’s most purpose built to cater to the specific
needs of the Precious Gems industry.
ambitious business-cum-residential
DUBAI REAL TIMES

until now have been operating from
locations across Dubai, will now be
required to relocate to the JLT free
zone on completion of the first year
of operations. The renewal of licenc-
es for existing members currently
operating outside the free zone will
be linked to their relocation to JLT.
This move is part of a strategic
initiative from DMCC to help its reg-
Dubai’s status as the most active
trading hub in the region.”
The move is also in response to
the impressive rise in the number
of registrations at DMCC and JLT,
following the progress in the free
zone’s development and the increas-
ing interest from investors to set up
offices. Despite the current climate
of economic downturn, the first five
community. Close proximity to the
Emirate’s new developments and
projects adds to its potential to sup-
port the sustainable growth of the
commodities sector.
DMCC offers its members several
unique benefits including access to
physical facilities like the Almas Gold
and Diamond vaults, market infra-
structure and trading platforms like
the Dubai Gold and Commodities Ex-
change, Dubai Diamond Exchange,
Dubai Pearl Exchange, Dubai Tea
Trading Centre and Dubai Cotton
Centre, plus a range of commodities
backed financial investment tools
including Shariah compliant hedge
funds and Dubai Gold Securities, the
region’s first Shariah-compliant gold 33
security listed on NASDAQ Dubai .
 DUBAI FOCUS

Region’s largest
medical waste
incinerator
Dr. Rashid Ahmed bin Fahad, Minister of Environment & Water; Eng. Hussain Nasser
Lootah, Director General of Dubai Municipality; Mr. Kenji Saito, Japanese Consul General
in Dubai; Mr. Essa Al Ghurair, Director, ETA Star Group and Mr. Syed M. Salahuddin,
Managing Director, ETA Star Group and senior officials of the Municipality in front of the
newly inaugurated medical waste treatment plant.

DM and Zenath Group team up to set up world’s second-of-its-kind plant

T
he UAE’s first and largest
vertical medical incinerator
is also the world’s second-
of-its-kind. The project was
implemented by Dubai Municipal-
ity and Zenath Group, the recycling
and waste management arm of ETA
Star Group. Located at Dubai Munic-
ipality’s waste treatment complex at
Jebel Ali, the Dh 24 million-inciner-
ator has a total treatment capacity
of 19.2 tonnes of medical waste per
day on a 24 hour continuous run.
Dr. Rashid Ahmed bin Fahad,
Minister of Environment & Water in-
augurated the medical waste treat-
ment plant recently. Eng. Hussain
Nasser Lootah, Director General of
Dubai Municipality, Mr. Kenji Saito,
Japanese Consul General in Dubai,
Mr. Essa Al Ghurair, Director, ETA Star
Group and Mr. Syed M. Salahuddin,
Managing Director, ETA Star Group
and senior officials of the Municipal-
ity were present on the occasion.
Mr. Lootah, said: “The new incin-
erator represents the use of intel-
ligent technology. Its design allows
for high energy efficiency and envi-
ronment friendly emissions. There
has never been a better time to in-
troduce this treatment facility, given
the steady increase in the number
of healthcare facilities in Dubai,” he
added.
Lootah said that private compa-
nies as well as individuals can bring
hazardous medical waste to this fa-
cility.
Reinforcing the group’s commit-
ment to environmental safety and
public health, Mr. Salahuddin, said:
“Emissions captured from the new
medical waste incinerator with dou-
ble bag filter have been put through
extensive tests. Results revealed that
the quality of emissions were far
better than expected - making it the
second incinerator in the world that
meets the highest control of emis-
sion norms and purity standards.”
Mr. J.S.A. Bukhari, Executive Di-
rector, Zenath Group, pointed out
that “The total medical waste gen-
erated in Dubai is approximately six
tonnes per day, but is expected to
double with the upcoming facilities in a year, with 30 days set aside for
in Healthcare City. The current spare maintenance work and operational
capacity could therefore be utilised shutdown. Unlike other waste, treat-
to treat hazardous, non hazardous ment of medical waste has always
industrial waste and municipal solid been a very daunting task as it con-
waste including sewage sludge.” tains infectious microbes that vary in
The ETA Star group has tied up calorific value. Plantec Corporation
with Mitsubishi Corporation and has devised the technology for treat-
Plantec Corporation of Japan to ing such material through the use of
obtain the vertical incineration vertical incinerators. This technology
technology, known for effective was first incorporated in Japan and
treatment of infectious waste. The has been successfully used over the
new incinerator will run for 330 days last 15 years.

Omniyat’s fit-out partner

O
mniyat Property Services
(OPS), a division of Omniyat
Asset Management, have
appointed Kinnarps Project Solu-
DUBAI REAL TIMES
towards providing our customers needs, and manage the complete “Utilising the combined pur-
with a personal, seamless, end-to- process from original concept de- chasing power of both KPS and
end property management solu- sign through to final completion, Omniyat, we are able to offer land-
tion. Through a single point of con- providing practical design advice lords and tenants the best pos-

tions (KPS), a leading commercial in-
terior design and build company, to
partner in the complete turnkey fit
out of Omniyat’s three premier proj-
ects; One Business Bay, Bayswater
and the Square - all set to be com-
pleted this year.
Lloyd Budd, Commercial Director
34 of Omniyat Asset Management, ex-
plained: “This is another milestone
tact, Omniyat customers can now
manage, design, fit-out and lease
their property. With tenants now
demanding a fit out solution before
committing to a lease, I am pleased
to announce that we appointed KPS
to provide our clients with tailored,
turnkey fit-out solutions.”
KPS will create full packages
unique to the client’s brief and
and adding value to the build-abili-
ty of the proposed solution.
Chris Watson, Managing Di-
rector of KPS noted: “KPS’ array of
fit-out solutions include; superior
quality materials in base building
works, partitions and custom-
made furniture, fully integrated IT
& audio/visual solutions, security
and phone systems.”
sible rates in the market regardless
of unit size, and have tested this
through a rigorous tender process
involving six leading commercial
fit out companies operating in
Dubai,” adds Budd.
Financing options for fit out are
also available through Indepen-
dent Finance, one of Omniyat’s
partners.

T
he market for water and
wastewater treatment equip-
ment in Gulf Cooperation
Council (GCC) countries ex-
perienced rapid growth during 2008
driven by huge investments in infra-
structure, real estate, petrochemicals,
oil and gas and other sectors. How-
ever, the sub-prime mortgage crisis
that hit western economies changed
the business climate and there was a
considerable decline in demand for
most commodities. Crude oil prices
plummeted to about $50 per barrel
from a historic high of $145 per bar-
rel, making investors wary of funding
new projects.
Governments in GCC countries
have exhibited strong political will to
continue investing in important in-
frastructure projects. Environmental
and health hazards related to the dis-
posal of untreated effluents, marine
pollution, and deteriorating ground
water quality are some of the issues
that are keeping market prospects
alive. Though these forces have been
overshadowed by short-term con-
cerns, they are expected to positively
impact market dynamics from 2009
to 2013.
The extent to which markets
across GCC member nations will be
affected by the current economic
slump largely depends on factors
that include government depen-
dence on oil revenues, dependence
of economic growth on external
debt, and ability to absorb the shock
based on the inherent economic re-
silience. The core municipal sector is
expected to cushion the impact of
this slowdown. Governments in GCC
Economic slowdown
temporarily restrains
commodities growth
countries have identified municipal
wastewater treatment as the priority
area for multiple reasons including
the achievement of the Millennium
Development Goals.
Some large private real estate de-
velopers of lifestyle townships, lux-
ury villas, and shoreline apartments
are utilising advanced wastewater
treatment technologies to assist in
maintaining a hygienic and odour-
free environment. Wastewater
treatment and reuse is likely to see
widespread adoption across GCC
countries, representing an expand-
ing market for advanced technolo-
gies. On the other hand, desalina-
tion has been the prime driver for
the water segment.
“The market is fraught with chal-
lenges in spite of its immense op-
portunities," says Frost & Sullivan
Sr. Research Analyst Vivek Gautam.
"The complex business environ-
ment, slow decision making process,
and customer preference for low
cost solutions regardless of the per-
formance makes it difficult to pen-
etrate the market."
Further, the mass market is high-
ly price sensitive, triggering intense
competition in lower technology
products. Profit margins for such
products are also under pressure.
Owing to the lack of technical com-
petence, cost considerations dictate
buyers' decisions. Component sup-
pliers, in particular, are facing hyper
competition due to the availability
of low-costproducts from supplier
nations such as India and China. The
onus is on technology providers to
roll out cost-effective products to
INFRASTRUCTURE
successfully navigate tough market
conditions.
District cooling is fast emerging
as the most viable cooling solu-
tion in the Middle East, where the
temperature frequently exceeds 45
degree Celsius and air conditioning
requirements consume 70 per cent
of the power during peak electric-
ity demand. As power shortage
is rampant in this region, govern-
ments are turning to district cooling
to cool buildings, as it is a cheaper
and greener alternative to air con-
ditioning. This solution can not only
mitigate the power crisis in the Gulf
Cooperation Council (GCC) coun-
tries but also help reduce carbon
footprints through increased energy
efficiency and lower CO2 emissions.
New analysis from Frost & Sullivan
(http://www.buildingtechnologies.
frost.com), finds that the market
earned revenues of $580.0 million
in 2008 and estimates this to reach
$2.00 billion in 2013 at a compound
annual growth rate of 28 per cent.
With greater involvement of
the government, the market is ex-
pected to become more organised,
populated and competitive.
Multinational companies will be
attracted to this market due to the
prospects presented by the investor-
friendly laws, improved standards of
living and high disposable income,
which has set off a retail boom in
the region. With the GCC becom-
ing home to the biggest shopping
malls in the world, there is a dis-
tinct need for district cooling in not
only the residential sector, but also
the commercial sector. The United
Arab Emirates alone is expecting to
have 80 million square feet of office
space by 2010, widening the scope
for district cooling companies.
District cooling production re-
quires copious water, which, like
electricity, is limited and therefore,
expensive in the GCC. Currently,
district cooling plants use potable
water, but the search is on for a
technology that will allow them to
use non-desalinated seawater. Even
though a few plants are already us-
ing seawater, the corrosion-resistant
equipment needed will increase
their equipment cost.
The current credit crunch will
make it even more challenging for
companies to acquire the systems
required to deal with this issue. As
district cooling is a highly capital-
intensive market, huge investments
are required to meet the additional
capacity required.
"Market participants can blunt
the effect of the reduced capital by
concentrating more on small proj-
ects that require less time in com-
missioning and that can guarantee
quick returns," remarks Darwin
Kishore Selvaraj Selvaraj, Frost & Sul-
livan Research Analyst. "When big
projects are split into smaller units,
DUBAI REAL TIMES
the limited capital will be sufficient
to start the project."
Frost & Sullivan leverages over
45 years of experience in partner-
ing with Global 1000 companies,
emerging businesses and the in-
vestment community from more
than 35 offices on six continents.
For more details visit http://www. 35
frost.com
 COMMUNITY
The meaning of
Corporate Social Responsibility
V
ictory Heights, the luxury
golfing residential devel-
opment in Dubai Sports
City, held a special com-
munity tree planting initiative to
celebrate World Environment Day
and Children’s Day which saw
young participants plant trees and
plants in different parts of the de-
velopment, highlighting the impor-
tance of responsibly maintaining
the environment. The children also
enjoyed a number of games and
competitions in Estella Park set in
Victory Heights.
Victory Heights has fast be-
come popular for the way its lux-
ury villas are taking shape among
the beautiful landscape, walkways
and the world-class designed golf
course. Luxury villas and townhous-
es here come in a choice of classical
European, Spanish Andalusian, and
Mediterranean architectural styles,
with custom finishes and a variety
of options. Offering peace of mind,
Victory Heights has appointed Bu-
reau Veritas, a highly respected in-
ternational firm, to provide a qual-
ity accreditation monitoring service
from design to delivery.
The record-breaking industrial
machinery auction conducted by
Ritchie Bros. Auctioneers in Dubai
recently had an unusual beneficia-
DUBAI REAL TIMES
ry: Foresight, a Dubai-based organi-
sation that raises funds to help find
a cure for blindness caused by he-
reditary eye disease and also helps
improve the lives of people with vi-
sual impairment. Southwest Middle
East LLC donated the full proceeds
from the sale of an unused Cat skid
36 steer loader at the auction to Fore-
sight. An on-site bidder from the
UAE purchased the skid steer loader
for US$30,000.
"I'm genuinely lost for words; this
has been beyond what we would
normally expect," said Sally Prosser,
PR Manager at Foresight. "From the
moment we heard the good news
right through until the excitement
of the auction, this was a unique
and wonderful experience. We try
to fund one research project per
year and this will certainly allow
us to achieve this year's objective.
In addition, financial resources are
always required to assist with our
ongoing work in the community,
assisting those who have lost their
sight. Mobility training would be a
prime example of this."
In addition to the charity skid
steer loader, the company sold al-
Mohammed Binbrek, Group CEO,
Dubai Properties Group
most 2,300 heavy equipment items
and trucks for more than 220 sell-
ers, generating almost $46 million
in gross auction proceeds. There
are 73 unreserved Ritchie Bros. auc-
tions on the calendar at http://www.
rbauction.com, including the next
one at its Dubai site on August 10
to 12, 2009.
Dubai Properties Group (DPG)
has announced the release of its
inaugural Corporate Responsibil-
ity Report, the first by a real estate
company in the Middle East to be
endorsed by the Amsterdam-based
Global Reporting Initiative (GRI). It
considers it not only a matter of phi-
lanthropy, but an ethical obligation
to reduce the negative impact the
company's operations might po-
tentially have on the environment
and increase the positive influence
on the market, communities and
people.
Under the Society segment,
nearly 150 Dubai Properties Group
employees volunteered to donate
blood while the group itself spent
over Dh7million in employee medi-
cal insurance during the year.
Under Environment, employees
recycled over 28 tonnes of office
waste, while DPG deployed environ-
mental friendly substances (such as
Inergen) for fire extinguishing sys-
tems, and utilised Green Building
programmes in three major sites,
one of which will comprise 73 per
cent green space.
Under the Marketplace category,
DPG established 'Accountability' as
one of its Brand Values, trained over
22 per cent of its employees on
brokerage laws and conducted 36
inspections and audits to suppliers.
In the People segment, DPG
achieved zero fatal accidents for
employees, conducted an appraisal
process for 100 per cent of its staff,
trained over 834 of them and re-
ceived 495 suggestions from em-
ployees, of which nearly 10 per cent
dealt with CR issues.
DLA Piper's commitment to
sustainability in the region was
recognised at an award ceremony,
where the leading international le-
gal practice was given the Sustain-
able Initiative Award for its efforts to
reduce its carbon footprint across
each of its offices in the Middle East.
The company has a global commit-
ment to sustainability across all its
offices which includes programmes
designed to reduce business travel
and offset emissions, purchase
items manufactured from sustain-
able sources; and recycle plastic,
paper, glass and cartridges. In ad-
dition, DLA Piper is the first interna-
tional legal practice to achieve cer-
tification in the globally recognised
environmental standard ISO 14001
across all its offices worldwide.
The Sustainable Initiative Award
win follows a week-long internal
campaign – EnergySMART – to re-
duce energy output in all regional
offices at DLA Piper. The campaign
concluded in early May.
 WELL DONE

Dubai partner named in

Who’s Who coveted legal list
D
LA Piper is the number one firm worldwide for real estate legal
expertise, according to the sixth edition of The International Who’s
Who of Real Estate Lawyers, published in June 2009. It was the
most highly nominated firm in the research for the publication
with more nominations from clients and peers than any other worldwide.
Twenty-two practitioners are featured from 13 of the firm’s offices across the
globe including the UAE, a figure unrivalled by any other firm.
DLA Piper is the current holder of Who’s Who Legal’s Real Estate Law Firm
of the Year, having won the award every year since its inception in 2006.
Tom O’Grady, is a partner at DLA
Piper. He is regularly asked by
the media to comment on issues
arising from changes in legislation
in the real estate sector. He has
made speeches at the Hawksmere
Conference on ‘Large Scale Mixed
Use Regeneration Schemes’ and
has articles published on mixed use
developments and establishing unit
trusts. His professional qualification
is: Solicitor of the Supreme Court of
England and Wales.
Tom O’Grady
The book is a result of six months of independent research incorporating
feedback from lawyers and in-house counsel, and covers 470 lawyers in 39
separate jurisdictions.
Editor-in-chief Callum Campbell said, “It is impossible to buy entry into
this publication, only those lawyers who receive sufficient nominations
from their peers are included. This book represents a truly global, highly
qualitative survey of only the best real estate lawyers, based on exhaustive
• Research for each practice area publication is conducted
through conversations with private practice lawyers of repute
in the practice area in question and in related fields, as well as
with general counsel
• Subsequent telephone and face-to-face interviews are
conducted internationally to permit the refining of the listing
to a selection of between 100 and 600 lawyers who, by general
agreement, are considered the pre-eminent lawyers in the
field
• It is impossible to buy entry into this publication, only lawyers
who have met independent international research criteria are
listed
• The International Who’s Who of Real Estate Lawyers 2009 acts
as a reference source for purchasers of legal services seeking to
corroborate the reputations of expert lawyers recommended
to them by another party
• Who’s Who Legal aims to reduce the short-term costs incurred
in finding a lawyer, but more significantly, to minimise the
transactional expense and risk of receiving poor counsel
research. The unparalleled levels of positive feedback we received for DLA
Piper from numerous countries worldwide testifies to its continued excel-
lence confirms it as the leading firm in this field.”
In 2008, Who’s Who Legal was named the Strategic Research Partner of
the American Bar Association Section of International Law, in addition to its
position as Official Research Partner of the International Bar Association. In
2006, Who’s Who Legal’s parent company Law Business Research was recog-
nised by The Queen’s Award for Enterprise in the area of international trade.
These awards are the most prestigious a British company can receive.

Special commendation by legal awards for UAE work

I
nternational law firm Pinsent and China. arbitration, especially in the Middle outsourcing and technology law
DUBAI REAL TIMES

Masons has been named Global
Construction Law Firm of the
Year 2009 in the Who’s Who Legal
Awards. This is the third time the
firm has been recognised in this
way, having also won the award in
2008 and 2006. Twelve of the firm's
partners are commended in the
publication, spread over five differ-
ent jurisdictions, including the UAE
One of those given particular
commendation was Michelle Nel-
son, a partner of Pinsent Masons’
Dubai office. Nelson has substantial
international experience and has
advised on a variety of projects re-
lating to roads, hotels, airports, pro-
cess and power plants, commercial
and residential premises. She has
particular expertise in international
East. The company’s construction
group is renowned worldwide for
high profile work, particularly across
the GCC. The UAE team is ranked
number one for construction law in
Legal 500.
Pinsent Masons has had an
established presence in the Gulf
since 2004 and offers construc-
tion, projects, real estate, corporate,
services. With over 30 qualified le-
gal staff including 20 construction
specialists, it has the largest single
group of construction lawyers in
the Gulf. From its offices in Dubai,
Pinsent Masons has well estab-
lished links with local law firms in
neighbouring countries including
Bahrain, Jordan, Kuwait, Qatar, Syria, 37
Yemen and Saudi Arabia.
 WELL DONE

Global architecture award

…………………………..

Pix captions:

Pic 1 –
Pic 2 –

D
ubai Municipality won the World Architecture Award at its
fourth cycle of 2009 in recognition for the restoration project
“This was one of the best examples of
on the House of Scholar Mohammad Sharif in the Bastakiya. The the few remaining houses in Bastakiya
Municipality won the award in the category of the Best Project and surrounding areas with rich traditional
DUBAI REAL TIMES

that won the appreciation of the Honorary Committee.

Eng. Rashad Bukhash, Director of Architectural Heritage Department
said, "This was one of the best examples of the few remaining houses in
Bastakiya and surrounding areas with rich traditional architecture and en-
gineering, which has become one of the most important symbols of local
architecture in the UAE.
The Architectural Heritage Department had restored the house in 1997
to make the building its office. It is considered one of the main groups of
38 architectural buildings in the world with electronic data for the reference
of architects from all countries of the world. The main task was to give op-
architecture and engineering, which has
become one of the most important symbols
of local architecture in the UAE”
portunity for promotion of local practices recognised internationally and to
provide a directory of contemporary architectural practices in all countries,
as well as the opportunity to get acquainted with the latest theories in ar-
chitecture.
 ENVIRONMENT

Coral relocation The coral remained

suspended in the water
throughout the relocation
process, minimising stress
and damage

T
he proof of the pudding is
in the eating (old English
saying) and Nakheel has
certainly proved that it has
a warm heart by quietly saving 5,500
tonnes of coral having devising plans
to successfully move it from one lo-
cation to another. And the plan has
worked – as proved when one year
after 1,129 five-tonne coral-covered
rocks were relocated from Dubai
Dry Docks (DDD) to The World, with
93 per cent undamaged, the coral
eco system is now seen to be thriv-
ing in its new location.
Academics and marine life ex-
perts had a hand in advising the
master developer on relocation
methods. With a method which
had never before been tried any-
where in the world before, and over
a period of seven weeks between
April and June 2008, rocks were
relocated from Dubai Dry Docks
to The World breakwaters, open-
ing up a large area of DDD to allow
for future development while also
maintaining the largest coral reef
ever found in these waters. The
rocks, which cover an area of 6,560
m2 (about the size of a football
pitch) were, and now continue to
be, home to 18 species of coral and
construction activities in the area
surrounding Dubai Dry Docks. To
minimise the damage from tradi-
tional removal methods – which
typically include the use of crow-
bars, underwater drills and cranes –
a new technique was developed by
the environmental team at Nakheel.
A bolt was drilled into each rock and
attached to a sling used to hoist the
rocks to a depth of three metres
below the water surface for attach-
ment to a transport barge. The cor-
als remained suspended in the water
throughout the relocation process,
minimising stress and damage.
The coral translocation area has
attracted a number of species of
reef fishes that are less common
elsewhere in that area, including a
number of commercially important
species. In addition, as many of the
transplanted corals are ‘broadcast
spawners’, it is likely that they will
seed the surrounding breakwater
through their reproductive activities,
resulting in the development of coral
communities on nearby rocky struc-
tures. Coral is a vital facet of Dubai’s
ecosystem. It is an important link in
the food chain and is necessary to
maintain levels of biodiversity.
Nakheel also revealed that de-
velopment of The World islands will
be supported by an existing port in
the Mina Rashid area, after dropping
plans to build a port inside Dubai
Dry Docks.
Dubai Municipality- Dubai Cen-
tral Lab Department has recently
organized a scientific symposium
on using mortar in green buildings.
According to Eng. Hawa Abdullah
Bastaki, Director of Dubai Labora-
tory Department, some significant
tests on green materials and ma-
terials from recycling old concrete
were exhibited in the symposium.
These materials were intentionally
manufactured to mitigate power
consumption, protect natural mate-
rials, reduce the operational costs,
strengthen the building perfor-
mance and create a healthy envi-
ronment for work and residence. “A
quality mark system will be applied
on the green building products” she
pointed out.
The advanced technical facilities
in the lab will qualify it to perform
as the first lab for green materials in
the civic body and Dubai city. The
laboratory will also conduct tests on
site in addition to a lot of other tests
such as physical, mechanical and
thermal tests.
DUBAI REAL TIMES

more than 30 species of fish plus

various sponges, sea-squirts and ur-
chins. The successful translocation
will provide a boost to The World’s
potential as a tourist destination by
opening up a new area of the Gulf
to scuba diving and snorkelling.
A decision was taken to move
the coral based on potential en- 39
vironmental impacts of proposed
 ENVIRONMENT

Waste
summit
M
ay saw a bevy of pro-
fessionals in the waste
management and
recycling industry
meeting to discuss waste disposal
and how it is affected by the current
global economical challenges. Eng.
Hussain Nasser Lootah, Director Gen-
eral of Dubai Municipality opened
the Middle East Waste Summit 2009
which discussed various issues re-
lated to waste disposal methods,
sound management and recycling.
In his opening speech Lootah said
that the world today is experiencing
a range of environmental issues that
have a direct impact on human life.
A high proportion of waste gener-
ated in developing countries has
helped global warming-an increase
in levels of air pollution and pollu-
tion of the ocean. He pointed out
that Dubai, which has seen an ac-
celeration of urban growth in recent
years, has a process of sustainable
management of waste issues.
During the year 2000 approxi-
mately 3,000 tone per day of waste
arrived at the municipal garbage
dump, in 2008, this had reached
DUBAI REAL TIMES
rate of increase exceeds 20 per cent
per annum; during the same period
the amount of construction waste
generated in the emirate had in-
creased to approximately 30 per
cent.
Dubai Municipality found sus-
tainable solutions through strategic
partnerships with the private sector,
the implementation of several initia-
tives and projects such as recycling
construction waste, household
waste, tyres and a plan to recycle
used oil.
“Dubai Municipality has started
work on three important projects
i.e. a general strategy framework to
reduce waste, an automated system
for the collection of compressed
waste, and waste from the transfer
of energy in the emirate. This am-
bitious project will contribute to
the Municipality’s proposal to turn
waste into energy to achieve sev-
eral objectives, including the reduc-
tion of emission levels of methane
gas from landfills, reduce reliance
on landfills and the health of the
traditional method of disposal of
household waste” concluded Eng.
Zero waste
In an exclusive interview for the Middle East
Waste Summit 2009, Andrew Quinn, Senior
Waste Consultant, GHD talks about Zero
Waste Inaccuracies and Realities.
MEWS: What initiatives for sus-
tainable waste management that
have been implemented in Aus-
tralia would you recommend to
the Middle East?
AQ: The pace of development has
been very fast in the Middle East and
it has perhaps been easy to overlook
details like sustainable waste man-
agement in the rush to get the next
project started. Middle East govern-
ments, however, should not let the
opportunity pass to establish sustain-
able waste management initiatives waste to produce compost and
early on, whether it is in the develop- sometimes energy from gas. A facil-
ment of new buildings, communities ity of this type is under construction
or cities. A little time and effort taken in Qatar. I see this kind of approach
now will pay off in the long run. as having a much wider application
How some Australian cities have in the Middle East.
coped with the challenge of being
situated in dry desert environments MEWS: Are ‘zero waste’ strate-
can be an example to the Middle gies viable in the Middle East with
East. Perth, a city of 1.5 million people the current status of technology

11,000 tone per day and the annual Lootah. on the south-west coast of Australia,
is surrounded by desert. The sandy
soil and the use of groundwater for
domestic purposes make land filling
an unsuitable method of putrescible
waste disposal. Instead, local govern-
ment groups in Perth have commis-
sioned and are commissioning al-
40 ternative waste technology facilities
which process municipal and other
available in the region?
AQ: Attempting to achieve a zero
waste target is an admirable aim
but in reality there is no one system
that produces absolutely no waste.
The best waste processing facilities
still produce some residual product
even if it is only small amounts of in-
ert material.
In my opinion, the best way
for countries in the Middle East to
achieve maximum recovery will be
through a combination of traditional
and technological solutions. By tradi-
tional, I mean the source separation
of easily identifiable materials such as
cardboard, plastics and possibly food
for separate processing and recycling.
These activities have already been go-
ing on for some time. By technological
solutions, I mean using modern pro-
cessing infrastructure, equipment and
available expertise to recover more
difficult to separate materials.
MEWS: What are the biggest chal-
Industrial and hazardous waste management
Middle East Waste Summit 2009 talked exclusively to Daniel M. Cheng, Managing Director,
Dunwell Enviro-Tech (Holdings) Ltd about Industrial & Hazardous Waste Management.
MEWS: What are your main proj-
ects internationally?
DMC: We have been proactively seek-
ing partners around the world to es-
tablish a low temperature (85 deg C),
low pressure (50 psi) used lubricant
recycling operation using our propri-
etary advanced vibrating membrane
technology – VMAT.
We have already set up this oil re-
cycling venture in five cities and more
will be installed in four countries in the
next 9 to 12 months.
VMAT recycles used lubricants such
as engine oil, hydraulic oil, gear oil,
etc. into green lubricants again. Un-
like other processes that recycle used
lubricants into fuel oil, or create a lot
of secondary pollution (acid sludge),
VMAT has become a popular option
being enquired from international re-
cyclers and even governments.
MEWS: What are the best technolo-
gies for waste oil recycling? What
processes are currently being im-
plemented in the Middle East and
are they adequate?
DMC: We have to define ‘the best’.
There are many different options of
technologies ranging from the mega
scale investment hydro-finishing, to
the cheapest but very polluting acid
clay treatment process used in the
industry. Before selecting any of the
process, we have to understand lo-
cal government environmental stan-
lenges facing clean production in
the Middle East?
AQ: Sustainable waste management
and cleaner production are intimate-
ly linked. I see the biggest challenge
as raising the priority of both in the
eyes of government, the community
and business. Both obviously benefit
the environment, but they also pro-
vide for healthier and safer places
for people to live. Cleaner produc-
tion also often means more efficient
production creating the potential to
save money.
MEWS: How does the market in
dards, availability of local technical
expertise, the market expectation on
recycled oil products, market sizes,
number of recyclers, etc.
In the Middle East, the acid clay
process has been adopted for years.
Due to the highly polluted nature
of the process, most of the govern-
ments around the world have re-
stricted this application after they
have found the acid sludge severely
polluted underground water and
soil. This is going to be an outgoing
technology.
Some recyclers are using simple
dewatering and centrifuge tech-
niques to produce fuel oil, which is
of low value to the Middle East mar-
ket that has abundant supply of fuel
products.
Some recyclers may be using high
temperature distillation process, but
this process is too energy consuming
and requires extensive engineering
support.
The Middle East market is steering
towards the directions of adopting a
clean (non polluting) technology that
can recycle used oil into finish lube
products, with a low energy level
and reasonable level of engineering
requirement. Our VMAT fits into this
context with a fast payback (less than
two years) scenario.
MEWS: When does Dunwell Envi-
ro-Tech work with the oil and gas
the Middle East compare inter-
nationally for investing in waste
management?
AQ: In my opinion, the Middle
East is ripe for investment in waste
management. Waste generation is
a function of population and de-
velopment and the United Arab
Emirates (UAE) has led the way in
these areas in the last decade or
so. We are seeing signs of a matur-
ing in the UAE waste industry. For
example, Thiess Services’ construc-
tion of a building and demolition
waste facility in the UAE is a clear
shift towards tackling more specific
industry?
DMC: Dunwell has been involved
in the oil recycling business since
1993, when we acquired and turned
around a bankrupted Australian oil
re-refinery operation (with a loss of
US$ 10 million) in Hong Kong. For
the last 16 years, we have been build-
ing our engineering capability and
investing in R&D for coming up with
a better process for the used oil recy-
cling industry.
We also work with oil fields in Chi-
na to provide advanced technology
for process improvement and water
treatment.
MEWS: How can Dunwell Enviro-
Tech positively impact the indus-
trial and hazardous waste con-
cerns of all stakeholders including
citizens, industry and govern-
ments? How can the company help
reduce pollution in the UAE?
DMC: Most governments nowadays
are seeking ways to minimise the
impact of oil related pollution in the
areas of air, water, soil and CO2 emis-
sion. VMAT is recycling used oil into
reusable green lube products instead
of heavy fuel which will emit much
CO2 and contribute to the global
warming.
The low temperature (85C) pro-
cess does not crack the hydro-carbon
structure of used oil and would not
cause air pollution problems. The ab-
waste issues.
MEWS: What is the most important
point you made at the MEWS 09?
AQ: Governments, developers and
the community should not ignore
waste management and expect
that waste will take care of itself.
Careful, insightful and forward-
looking regulation and assistance is
required to provide an environment
in which the commercial sector and
their customers, governments and
the community can achieve their
goals while effectively and sustain-
ably managing their waste.
sence of chemical (acids) used would
not cause further damage to the water
and soil.
VMAT is a modular expandable
process to allow users to start with a
smaller volume (5000 m3/year) and ex-
pand to 20,000 m3/year when they are
familiar with the new business models
and technology. Users can even setup
the VMAT systems in various locations
across the country, to minimise the
transportation and enhance flexible
operation.
MEWS: How does the market in the
Middle East compare internation-
ally for investing in waste oil recy-
cling?
DMC: Since VMAT received the IChemE
Grand Environment Award from Lon-
don in 2006, we have been approached
by almost 100 Middle East companies
and even government appointed con-
sultants regarding the feasibility of this
project.
Now with a total of four interna-
tional awards received by VMAT, and
DUBAI REAL TIMES
actual installations around different
continents, even more oil recyclers
have seriously visited our industrial op-
erations and are negotiating potential
partnership for setting up VMAT in GCC
countries.
GCC is a big market and we are open
to work with industry players and wel-
come referral agents to help us expand 41
in this promising oil recycling venture.
 DEVELOPERS LIST

List of approved developers

220 A S A Developers Ltd 817 Almasah Middle East Investment Limited

594 A.C.Holdings Limited 411 Alosaimi Real Estate Investments Co L.L.C

395 A.S.A Developers Limited 299 Alshafar Development (L.L.C)

514 Aa Global Limited 86 Altajir Real Estate L.L.C

16 Aaa Auctions Organizing & Management 448 Amesco Tower Jlt

49 Aakar Developers Ltd 468 Anil Adinath Bastawade

255 Ab Properties Limited 221 Anis Holdings Limited

568 Abdulrazzq Ali Almadani 183 Anis Property Investments Ltd

646 Abdulsalam Mohd Alrafi Real Estate Development Group (L.L.C) 132 Antonia Resources Ltd

670 Abwab Real Estate Limited Co Llc 309 Arabia Group Development Limited

46 Abyaar Real Estate Development 310 Arabia Group Investment Limited

31 Aci Real Estate Llc 378 Arabian Investments Limited

414 Acw Holding Ltd 239 Aristocrat Star Investment L.L.C

720 Adel Mohammad Saleh Ali Naqi Al Zarooni 525 Arra Limted

679 Ag - Optimo Limited 572 Arthur Fitz William (Plantation)

Ahmad Abdulla Ahmad & Ayesha Ahmad Abdulla & Amir Badkoubeh & Armin
506 279 Aryene Plus Property Developers Limited
Niasar
268 Ahmed Abdul Rahim Alattar Properties 532 Aryene Property Developers Limited

328 Al Duaa Holdings Fzc 696 Asadollah Hosseinali Kikha

199 Al Jawi Investment L.L.C 597 Ashai Tower Jvs Limited

4 Al Manal Development Fzco 36 Aswan Developers Inc

784 Al Mazaya Holding Company 23 Aswan Investments Limited

289 Al Murjan Real Estate ( Fzc ) 830 Aurora Limited

18 Al Rashid Investments 392 Avanti Holding Limited

14 Al Sayyah & Sons Investments(L.L.C) 131 Avetona Global Ltd

194 Al Shafar General Contracting Co Llc 595 Avon Developers&investments Limited

812 Al Tafany Properties Limited 317 Axon Development (Fzc)

290 Al Tamimi Investments Limited 235 Azizi Invesments (L.L.C)

799 Al Zahra Properties 391 B & M Fzco

DUBAI REAL TIMES

704 Albenaa Real Estate Investment-pjsc 786 Baiti Properties Development Llc

479 Alduaa Residence Limited 308 Bando Engineering & Construction Co Ltd

3 Alfajer Properties L L C 281 Bangash Builders &developers Limited

78 Alfaraa Properties 584 Bangash Developments Limited

304 Alfattan Properties (L.L.C) 793 Bangash Investments Limited

463 Alghanem Real Estate Llc 472 Baraq Holdings Limited

42
79 Almadar Investment (L.L.C) 647 Bassam Said Freiha
141 Bavaria Gulf Sandoval Ltd 260 Damac Properties Co.(L L C)

148 Bay Central Developments Limited 42 Dana Property Development (L.L.C)

360 Bay View Investments Limited 624 Das Real Estate

134 Beliza Resources Limited 179 Define Properties L Lc-fzc

838 Bella Vida Limited 805 Define Properties Plot 8 Limited

413 Beney Investments Limited 318 Desert Dream Investments Llc

829 Blue Sky And Nawaab Holdings Limited 313 Desert Home Fzco

320 Bonnington Land Limited 158 Dheeraj & East Coast L L C

374 Bonyan Emirates Properties 6 Diamond Developers Co.Limited

257 Bonyan International Investment Group L.L.C 60 Diamond Arch Limited

795 Bosphorus Investments Limited 695 Diamond Properties Limited

296 Brighton Holdings Limited 864 District Investment & Development (L.L.C)

323 Brookes Corporation 741 Dja414 Investment Limited

828 Bucephalus Holding Limited 671 Dmcc Business Park Dmcc

449 Bukhatir International Realty Development & Investment Llc 874 Dream Estate Limited

357 Burj Alalam Holdings Limited 45 Dsec Corporation F.Z.C -rak

263 Burj Aldua'a Limited 153 Dubai Multi Commodities Center

258 Bux Holdings Limited 73 Dubai Guernsey Property Investment Limited

401 Byblos Real Estate Broker 851 Dubai Holding

731 C7d1 Limited 862 Dubai Industrial City

298 Capital Trust Gulf Limited 867 Dubai Investment Park Llc

40 Cayan Real Estate Investment & Development (L.L.C) 278 Dubai Investment Real Estate

130 Cenita Global Ltd 854 Dubai Land ( L.L.C )

337 Chapal World Llc 35 Dubai Life Style City L.L.C

816 Chess Tower Limited 858 Dubai Maritime City

723 City-d Investments Limited 850 Dubai Properties ( L.L.C )

842 Cl International Development Limited 160 Dubai Property Ring Ltd

358 Cliff Dwellings Enterprises Ltd 344 Dubai Silicon Oasis Authority

431 Comfort Homes Ltd 200 Dubai Sports City ( L.L.C )

312 Condor Properties Limited 834 Dubai World Trade Center (L.L.C)

794 Cornica Tradings Assets Limited 307 Dujon Properties Ltd

356 Credo Investments Fze 340 Dunes Property Investments Ltd

801 Credo Investments Fze 417 Dunes Village Real Estate

DUBAI REAL TIMES

123 Crown Holding Limited 742 Durar Al Emarat Properties Llc

211 Crown One Holding Ltd 288 Earth Developers (L.L.C)

733 Crown Three Holding Ltd 719 Edmonton Admire Properties Limited

821 Crown Two Holding Limited 540 Elan Investment Limited

588 D10 Awf Investment Limited 555 Emaar Properties Pjsc

192 Damac Development L L C 398 Emirates Sunland D1 Limited 43

 399 Emirates Sunland Pv Dubai Limited 64 Gulf Developers Fzc

860 Es Investments Limited 285 Gulf General Investments Co. (P.S.C)

231 Esca Properties Llc 135 Gulf Investments (Fzc)

650 Escan Real Estate Pjs 755 Gulf Line International Ltd

218 Essa Bin Nasser Bin Abdullatif Al Serkal 305 Gulf Shores Inc

26 Eta Star Property Developers (L.L.C) 498 Gulf Technical Construction Co (L.L.C)

662 Ever Green Signature Investment Limited 82 Gulf Towers Investment Llc

76 Ever Shine Dubai (Bvi) 324 Halcon Real Estates Development (L.L.C)

250 Fabson Import Export Limited 809 Hampstead & Mayfair Development Limited

536 Fahed Hamad Saif Bin Fahad And Abdulla Ali Obaid 394 Hamza Namera International Fzc

688 Fahiman Bhatish & Nania Nagpaul 768 Heman R.E.D. & General Trading Limited

314 Fakhruddin Properties Limited 53 Her Limited

7 Falcon City Of Wonders (L.L.C) 17 High Rise Properties(L.L.C)

48 First Homes Ltd O.F 58 Hircon International (L.L.C)

541 Flamingo Investments Limited 386 Hma Exec Limited

95 Fortisplus Holdings Limited 243 Horizon Infrastructure F Z C

406 Fortune Avenue Investment Limited 343 Hydra Properties (L.L.C)

407 Fortune Bay Investment Limited 703 I.R.Investments Holding Company Limited

466 Fortune Dxb Ltd 552 Ihab Sayed Mohamed Elwishy

556 Fortune Homes Investment Limited 372 Ilyas & Mustafa Galadari For Investment & Development Managment (L.L.C)

208 Fortune Investment Group (L.L.C) 865 Indigo Valley Inc Limited

405 Fortune Serene Limited 815 Infinity Emirates Investments Llc

234 Freej Development Limited 609 Innovvarc Holding (L.L.C)

499 G&g Partners Limited 471 International Merchnant House Llc

574 German Holding Group( L.L.C) 306 Investments House Co.(L.L.C)

577 Gholamreza Abadi & Shahrokh Nariman&yadollah Nariman&behnam Keivan 825 Ishraqah For Development Limited

146 Global Group Holdings Limited 77 Ishrat Ali

190 Global Group International Limited 470 Jab Developments Inc

510 Global King Technologies Ltd 511 Jab Mosaistone Developments Inc

151 Global Procurment Fzc 10 Jad23 Investment Limited

253 Gold Vision Development Ltd 9 Jad24 Investment Limited

248 Golden Beach Properties Limited 11 Jad25 Investment Limited

841 Golden Land Development & Investment Limited 475 Jalal Ebrahimi
DUBAI REAL TIMES

270 Gpd Investments L.L.C 496 Jamal Mohammed Alhassan & Bachar Bakri Almradi

271 Gpd Investments Spv One Limited 440 Jasmine Garden Limited

845 Grace Property Developer Limited 108 Jumeirah Golf Estates (L.L.C)

24 Green Desert Ventures Inc 381 Jupiter Estates Limited

284 Green Emirates Properties- Co.Psc 5 K M Properties (L.L.C)

44 51 Grm Limited 12 Kaizen One Investment Limited (Offshore)

238 Kamil Khan 859 Meraas Holding (L.L.C)

831 Kd Paca 59 Limited 236 Merwess Abdulaziz

722 Kensington Global Investments Inc 866 Meydan (L.L.C)

242 Khalifa Majid Alabbar 129 Mirgana Resources Ltd

32 Khuyool Investment L.L.C 286 Mismak Properties Co (L.L.C)

663 Kleindienst Properties 41 Mizin (L.L.C)

500 La Ploma Limited 447 Mohammad Aqil Ali & Ahmad Ali Alzarooni

181 Limitless ( L L C ) 379 Mohd. Hussain & Bros

71 Links Properties Investment Limited 458 Mohd. Hussain & Bros

489 Liquid Assets Limited 519 Mre Global Investment Group Fzc

303 Lokhandwala Builders International Ltd 52 Mrg Ltd

37 Lootah Real Estate Development Est 402 Msaab Mohammed Alzwaid & Hamad Ali Aldubikhi & Saleh Ibrahim Alqasir

876 Lootah Real Estate Investment 240 Muhammad Nabeel Joz

429 Lux Real Estate 716 Muhammad Nasir Muhammad Iqbal & Safia Nasir

743 Luxor Investment Limited 486 Nadeem Mohammed Zafar

796 Lyra International Limited 100 Nakheel Co.( L.L.C )

660 M E Development Llc 861 Nauman Abid Properties Limited

520 Maadhad Saleh Mezar Alromaithi 59 Ncc Urban Infrastructure

38 Madain Properties Co. (Mada'in) (P.J.S.C) 857 Neel Devcons Limited

280 Madison Holding Fzco 840 Neel Properties Limited

21 Mag Group Fze 319 Neo Solutions Limited

548 Mahdi Amrollahi (Partner) Antar Marzooq (Owner) 226 Neptune Properties Investment Ltd

254 Mahmoud Reza Azizi 355 New World Investment Ltd

732 Maison Limited 128 Oakgrove Global Ltd

44 Makaseb Properties 311 Oasis Group Ventures Ltd

513 Mammut Group Fzco 388 Olive Ponit Limited

282 Mandate International Limited 393 Omniyat Properties Development Corporation

164 Manhattan Real Estate Holdings F.Z.C 689 Optimo Arabia Limited

542 Marina Arcade Real Estate Llc 709 Opulence Holdings Limited

352 Marina Breeze Limited 724 Orbit Holdings Ltd

750 Marina Crown Real Estate (L.L.C) 84 P&p Properties Ltd L.L.C -rak

351 Marina Exclusive Limited 567 Paradise Limited

329 Marina Star Limited 367 Paramount Real Estate Llc

DUBAI REAL TIMES

67 Mars Properties Investment Ltd 369 Parshwa Holdings Limited

25 Matex Estate Ltd 562 Paxion International Fze

420 Memon Developments (Fzc) 219 Pearl Dubai Fz- L L C

760 Memon Property Ventures (Fzc) 209 Pearl Properties

765 Mena Capital Investment Llc 727 Petrochem Realty Fze

353 Mera Home Ltd 797 Petrokaz Limited 45

 863 Phoenix Holdings (L.L.C) 85 Rufi Century Tower Ltd
91 Plus Internatinal Two Limited 68 Rufi Down Town Res Ltd
92 Plus International One Limlted 161 Rufi Gardens Ltd
813 Plus International Three Limited 162 Rufi Gulf Greens Ltd
787 Plus Properties Llc 775 Rufi Heaven Limited
453 Pnd Investments Ltd 798 Rufi Luxury Heights Limited
149 Point Development Ltd 336 Rufi Park View Limited
761 Premier Group (Fzc) 533 Rufi Rose Gardens Limited
504 Premier Group Properties Inc 433 Rufi Royal Crest Ltd
835 Premiers Property Developers Limited 335 Rufi Twin Towers Limited
124 Prescott Enterprises Ltd 295 Rufi Water Front Residency Limited
203 Prescott Holdings Limited 811 S.P. Oasis Limited
125 Prescott Investments Ltd 445 Sahara Livings Limited
437 Profile Residence Limited 855 Sama Dubai
575 Profile Zero Five Five Limited 495 Sameer Mahmoud Al Ali
561 Pyamod Developments Fze 70 Sameet Prakash Dhamecha
408 Pyamod International (Fze) 184 Sanali Holding Fze
322 Qureshi Faisal Abdul Aziz 554 Sarhank Kader
383 R.K.M Real Estate (Llc) 13 Sariin S.R.O
524 Raam Limited 204 Satnam Singh
173 Ramada Real Estate L.L.C 636 Sayed Amjad Husain
90 Ramadan Mousa Mishmish 384 Schon Investments Limited
66 Rani International Development (L.L.C) 452 Seasif Group Fzco
450 Rashed Darwish Alketbi 50 Seasons Development Limited
428 Rashed Mohamed Mahran Al Bloyshi 493 Seastar Properties Limted
137 Rayan Adnan Ibrahim Abduljabbar 810 Sebco Limited
264 Real Estate Bank 534 Segrex Limited
371 Realty Capital Middle East Fz-llc 361 Seracom Holding Limited
19 Reef Real Estate Investment Co (L.Lc) 596 Sevanam Holdings Limited
515 Reliance Estate Developmant 222 Seven Tides Ltd
8 Remah Holding Limited (Offshore) 237 Shaikh Holdings Limited
359 Rescom Holdings Limited 538 Shanti Builders & Developers Limited
362 Riviera Holdings Limited 820 Sharm Investment Co. Limited
DUBAI REAL TIMES

54 Rmg Limited 171 Sheffield Real Estate Llc

606 Roland Developments Fzc 39 Sheth Estate (International) Limited
444 Romeo & Juliet Tower Limited 642 Sidra Holding Limited
163 Romil Investments Ltd 65 Sidra Ltd
126 Rose Homes Investment L L C 74 Sienna Lakes Ltd

46 789 Royal Holdings Limited 373 Silver Star Tower Limited

22 Sky Estate Limited 527 Time Properties

30 Smart Home Properties 147 Torch Select Ltd

491 Smart Investment Limited 266 Town Center Management Limited

819 Sobha International Limited 292 Trend Capital Gmbh & Co. Dubai Sport City Kg

87 Sobha Investments Limited 96 Trident International Holdings Fzco

283 Sobha Properties Limited 165 Trinity Developers

89 Sobha Ventures Limited 205 Triplanet International Limited

215 Sokook Investment Group 207 Triveni Builders & Promoters Ltd

244 Souq Residences Fzco 560 Uae Waterfront Group Limited

800 Spain Select Limited 508 Uk-cig Developments (Jvs) Limited

622 Stallion Developments Ltd 501 Umesh Kumar Vinodrai Chug

697 Star Developers Limited 27 Union Properties

159 Star Surveying & Evaluating Services 301 Universal Developers (Fzc)

791 Sternon Developers Limited 127 V Resorts Ltd Fouad Barbar(Owner) / Bsa(Developer)

869 Strata Fze 474 Vascon Trading Ltd

193 Sum Sum Developers (Fzc) 465 Venus Properties Investment Ltd

368 Sun Valley Holdings Limited 261 Victory Heights Golf Residential And Development Company (Llc)

62 Sungwon F.Z.E 259 Vision Avenue Homes (Fzc)

614 Sunland Nur (Joc) Limited 710 Vokhid Kakharov

836 Sunland Waterfront (Bvi) Limited 823 Volcano Investment Properties Limited

214 Swiss Tower L L C 808 West Avenue Limited

188 Syann Palm Ltd 69 Westar Properties Ltd

186 Syann Park 1 Limited 773 York Shire Corporation Limited

637 Syndicate Sealine Limited 507 Yra Enterprises Limited

29 T F G Real Estate Broker 814 Zenith Real Estate Development Llc

170 Taisir Limited 228 Zero Five Zero Limited

756 Takmeel Investment Limited

99 Tameer Holding Investment (L.L.C)

287 Tanmiyat Real Estate Development

Taskeen Properties (Khaled Heikal& Hesham Heikal& Suaad Mohammed &
490
Ahmad Mohd)
852 Tatweer

856 Tecom

868 The Lagoons ( Llc)

DUBAI REAL TIMES

55 The Onyx For Development Limited

553 The Palm Hotel And Resort Fzc

457 The Pavillion Holding Limite

120 The World (L.L.C)

581 Tiger Properties

424 Tima Holdings Ltd 47

 MARKET TRENDS
UPDATES // LAWS&& ANALYSIS
REGULATIONS
//
Q&A
Your questions answered by
Jacqueline Latham, DLA Piper
Middle East LLP
Q. My lease is due to expire in the next six months and I do not plan
to renew it. When I entered into my tenancy contract, I paid a de-
posit of Dh10,000. Will I be able to get all of my security deposit back
and do I have to give my landlord notice that I want to terminate the
tenancy?
A. With respect to the security deposit part of your query, Law No.26
of 2007, which was amended in part by Law No. 33 of 2008, provides
that a tenant should hand back the leased property in the condition
in which it was received at the time of leasing - fair wear and tear ex-
cepted. In addition, the Law allows a landlord to essentially retain the
security deposit upon termination of the lease period, to ensure the
maintenance of the property; however, the landlord must return any
post-maintenance excess monies from the security deposit to the ten-
ant. As such, if you return your property to your landlord in the same
condition as when you leased the property, then in theory, your full
security deposit should be returned to you.
In respect of the non-renewal of your tenancy agreement, and without
having seen your actual tenancy agreement, you should notify your
landlord of your intention not to renew your tenancy at least 90 days
prior to the expiry of your current tenancy agreement.
Q. I work at a finance company and am trying to sort out a mortgage
package and am baffled by the reference of a standard mortgage
form in the Mortgage Law. I have been trying to locate such a form
for a few weeks now but have been unsuccessful. Where can I get
this form?
DUBAI REAL TIMES
A. Firstly, you should ensure that you are complying with Law No. 14 of
2008 concerning mortgages, by being registered and licensed to pro-
vide property finance in the UAE by the UAE Central Bank. If you are not,
then you should cease undertaking any mortgage activity until you are
fully compliant with the Law.
In respect of the standard form, this is more a case of standard informa-
tion. The mortgage provider should have a standard letter, also con-
taining the text in Arabic, that sets out specific information, namely,
48 the loan amount; the loan term and the property details and this letter
should be signed by the authorised signatory.
Q. I am currently negotiating the terms of a mortgage with a local
bank and though I have read a lot about the commencement pro-
cess in respect of mortgages in Dubai, I would like to know the pro-
cess concerning the termination of a mortgage.
A. To terminate a mortgage, you will need to submit the original title
deed, the original letter from your bank requesting the termination of
the mortgage and the original mortgage contract, to the Land Depart-
ment. As you would expect, a fee is payable and the current cost is
Dh1,000, in addition to a knowledge fee of Dh10.
Q. I am not actually a Dubai resident but I did invest in an off-plan
property in Dubai last winter, which I was hoping to use for future
vacations. It is my understanding that the developer has not even
started the construction yet and I feel quite helpless as I live miles
away. How can I make a complaint?
A. As the law currently stands, Law No. 8 of 2007 (concerning escrow ac-
counts) provides that a developer must start construction of its project
within six months of receiving all of the necessary approvals relating
to that project, whilst Law No. 9 of 2009 (which clarified the previous
interim registration measures) gives RERA the power to cancel a proj-
ect upon consideration of a grounds-based report. In such an event, a
purchaser will receive a full refund in accordance with the Law No. 8 of
2007, and Law No. 9 of 2009 prescribes that this should be done within
the earlier of: a) one year from the date of revocation of the contract; or
b) sixty days from the date of resale of the property. As the implementa-
tion of regulations supporting Law No.8 of 2007 and Law No.9 of 2009
are widely anticipated to be published shortly, and such regulations will
hopefully set out some clear steps to resolve cases like yours, then as-
suming that you are still fulfilling your obligations under your sale and
purchase agreement (e.g. paying any purchase price instalments when
due), you should initially register a formal complaint with RERA online
via their website until the supporting regulations are published.
Jacqueline Latham is a Legal Consultant (England and Wales qualified), Real
Estate at DLA Piper Middle East LLP, Dubai, www.dlapiper.com