Dubai property investors win five-year visas after $54m commitment

Investors from Tunisia, the US, Commonwealth of Dominica, India, Iraq, China, Libya, Jordan, Iran, Pakistan, Kazakhstan, and Saint Kitts and Nevis are granted renewable long-term visas

Dubai Land Department (DLD), in coordination and cooperation with the General Directorate of Residency and Foreigners Affairs (GDRFA), has granted five-year renewable visas to 20 foreign investors from across the world.

The investors, from Tunisia, the US, Commonwealth of Dominica, India, Iraq, China, Libya, Jordan, Iran, Pakistan, Kazakhstan, and Saint Kitts and Nevis, are responsible for direct real estate investments in Dubai exceeding AED200 million ($54.4 million).

A ceremony was held at DLD in the presence of Major General Mohammed Al Marri, director general of GDRFA Dubai and Sultan Butti bin Mejren, director general of DLD.

During the ceremony, the five-year golden visas were given to real estate investors whose individual investments in the local real estate market exceeded AED5 million.

This visa also benefits their family members including wives and children, DLD said in a statement, adding that the conditions for obtaining the golden visa without a sponsor includes investing in one or more existing properties that satisfy the total value condition, regardless of whether the property is owned by an individual or a group of investors.

Bin Mejren said: “We would like to thank GDRFA for cooperating with us in this project that will greatly benefit Dubai and the UAE, consolidating the emirate’s position at the forefront of destinations capable of attracting capital and foreign direct investment.”

In May, the Federal Authority for Identity and Citizenship announced the implementation of the UAE Cabinet’s decision to issue five-year residency visas for entrepreneurs.

The move is part of the UAE's aim to enhance the ease of doing business in the country. Shaikhani Group welcomes the step taken by Government of UAE for 5 or 10 year visa policy. This step will leads to new path for the people who are looking forward to spend their life in the UAE for whole life with less hassle, said Ahmed Shaikhani, who is also the head of Shaikhani Group. Moreover, Shaikhani has a vision that expo 2020 is best time to invest your money, right now everyone is building and they are trying to finish their project 2020, which would be a huge opportunity for the new job placement.

Companies are more concerned about infrastructure and policies, Dubai always a head to offer a best policies for the investors and this is why Dubai is on 16 Ranked in the world.

Shaikhani Group is in process of finishing their two projects worth above AED 200 Million by Starting of 2020 and more projects are in pipeline. It would be a great achievement for Shaikhani Group to invest in real estate sector.

Ahmed Shaikhani Group Managing Director of Shaikhani Group says it will be another good step of UAE government to allow the expatriates to stay in the country after they got retirement on a condition of owning a property valued at about $545,000.

https://www.arabianbusiness.com/banking-finance/423719-dubai-property-investors-win-five-year-visas-after-54m-commitment

China’s appetite for Dubai property grows amid strengthening of Sino-UAE ties

Downtown Dubai, The Greens and International City are ranked as top three areas for investment
Downtown Dubai, Greens, and International City are the top three most popular areas for Chinese investors. Sarah Dea/The National
A large number of Chinese people are investing in Dubai's real estate market due to strengthening of ties between the UAE and China and implementation of the Belt and Road Initiative and other developments, according to a property consultant with Coldwell Banker UAE.
Xiaoyun Du said that current trends in both the Chinese stock market and its property market, both of which have been experiencing rapid growth in recent years, have encouraged upper-
middle class Chinese nationals to invest in overseas markets, including in Dubai. Depreciation of the yuan, as well as the high rental yields on offer in Dubai, are other factors that are influencing Chinese investors, Ms Xiaoyun said.
Using data from Dubizzle, she identified Downtown Dubai, The Greens and International City as the three most popular areas for Chinese investors to buy ready properties, whereas Dubai Creek Harbour, Meydan and Madinat Jumeirah Living top the areas in terms of off-plan sales.
“Location, annual yield and selling prices are the three of the key factors considered when making purchasing decisions,” Ms Xiaoyun said.
In Downtown Dubai, the average price of resale properties is between Dh1,700 and Dh2,200 per square foot, which is equivalent to one quarter to one-sixth of the selling price of real estate in Downtown Shanghai, she said.
“For Chinese investors, this price for a fitted flat with a free parking in the heart of Dubai is very cost-effective. The yearly yield in Downtown Dubai is around 6 per cent to 7 per cent, slightly lower than the annual average yearly yield of 8 per cent in Dubai, but because of the above two advantages, Chinese buyers accept this.”
The Greens is another popular choice for Chinese investors due to its proximity to Dubai Internet City and Dubai Media City. The average selling price within The Greens is between Dh1,200 and Dh1,500 per square foot and average yields in the community are around 8 per cent.
International City is close to Dragon Mart, the retail and wholesale development that has become one of the biggest hubs for Chinese traders in the Mena region. The average selling price in International City is Dh700 to Dh980 per square feet, meaning properties are more affordable, and it offers some of the highest rental yields in Dubai of 8 to 9 per cent, Ms Xiaoyun said.
In off-plan properties, Dubai Creek Harbour is a new development by Emaar Properties and Dubai Holding, and Chinese investors have already become the number one investors in the
area. Last year, master developer Emaar Properties announced plans to build a major 'Chinatown' retail and leisure area within the six square kilometre development.
“Emaar’s development track in Dubai, including Burj Khalifa and whole Downtown area, instills confidence in Chinese nationals considering investing in projects by the developer. Besides, based on their investment experience in major cities in China, investors are confident that such ‘city hub’ developments will provide good returns in the near future.”
Investments by Chinese nationals accounted for Dh1.7 billion in the first three quarters of 2018, making them the sixth-most active buyers of property, according to the Dubai Land Department. Dubai is targeting Dh1bn of Chinese real estate investments in 2019.
The number of Chinese expats living in Dubai has increased by 53 per cent over the past five years, with around 230,000 Chinese nationals currently living in the emirate and around 4,000 Chinese companies operating.
Figures released by Dubai Tourism yesterday also revealed that Chinese visitor numbers increased 11 per cent in the first six months of 2019. China was the emirate's fourth-biggest market for tourists, welcoming 501,000 overnight visitors from China.
Ties between China and the UAE have strengthened since the visit of Chinese President Xi Jinping in July 2018. Sheikh Mohamed bin Zayed, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, also visited China last month. During his visit, a raft of new trade deals between the two countries were announced.
Mr. Shaikhani said, when affordability and reliability factor comes, Dubai is the most affordable place for real estate, It is always booming and attraction for the tourist, There are number of different schemes and low charges from government UAE which holds the prices and create attraction for the investors and buyers
Due to government Laws and implementation, Dubai‘s projects are more reliable and easy to invest as compare to other countries, Mr. Shaikhani said. Furthermore, he said we have a
different types of project in different areas because every customer have a different view and opinions, after looking at the behavior of customers we have invest more than 200 million dirham in few years. We are getting a really good positive feedback and best ROI on our investment, due to the government policies and infrastructure
Soon Shaikhani Group is going to finish their recent projects; Champions Tower 3 and Gardenia both are on their ending stages. Gardenia is built for those who are looking for luxury and quality Apartment, and once this project is completed soon customer will recognize them as a very high quality Apartments.
Shaikhani‘s said we have a vision to open our new office in NEW YORK and then London, But things will go gradually. We are in market since many years and we are still surviving in the industry very well. Since 1978 we are in business and our Dubai office started in 1993, this is the reliability of our company and customer knows we will finish our projects on time no matter what.

https://www.thenational.ae/business/china-s-appetite-for-dubai-property-grows-amid-strengthening-of-sino-uae-ties-1.899698

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Over 43,000 Dubai residential units set to be completed by end-2019

Property Finder says 136 Dubai projects are currently between 85 and 99% complete
Over 43,000 residential units within 136 Dubai projects are between 85 and 99 percent complete, with expected completion by the end of 2019, according to new data from Property Finder.
The data also estimates that 4,133 residential units in 18 projects in Dubai have a completion status of between 65 and 99 percent until September 2020, a month before the beginning of Dubai Expo 2020.
Cumulatively, Property Finder believes that Dubai could see the completion of as many as 48,015 residential units in the emirate, although construction completion does not necessarily translate into the handover of homes.

“Construction is now slowing down and projects are in full swing,” said Lynnette Abad, Property Finder’s director of research and data. “We are also starting to see phases of big projects near completion status.”

“Therefore, we can expect to see a higher number of completed units this year compared to following years,” Abad added. “So far, to date, there has been a total of 10,670 units completed this year.”
Of the total upcoming inventory in 2019, apartments were found to account for 33,548 of the total, compared to 4,612 for villas and townhouses and 5,622 serviced apartments.
Of the estimated residential supply expected in 2020 (until September of that year) apartments will account for 2,853 units, compared to 1,280 villas and townhouses, according to Property Finder.
According to construction schedules, Jumeirah Village Circle will see the highest number of projects – 23 – between today and Expo, followed by Mohammed bin Rashid City with 15 project completions.

Dubailand and Business Bay are expected to each have 12 completed projects within the same timeframe.

Shaikhani Group who are working in Dubai as a Real estate developer, they have delivered many projects, some of them are in pending expected to be finish by mid of 2020, They always tried their best to handover the project in estimated time, if any hurdles come such as government laws or working environment problem then it will be a bit delay to coupe up the problems. Usually they always prefer to deliver the projects in time.

Mr. Ahmed Shaikhani said, we are surviving in Dubai since 1993 and we are still doing good as compare to other companies, our rates are quiet low as other people are giving discounts on their higher rate, that’s why we don’t give discount because we everything should be crystal clear. People sometimes complain that other companies are giving huge discount but when our representative explains how we are working, so they understand everything. Our first priority is make customer happy because without customers we are nothing.

https://www.arabianbusiness.com/news/420430-over-43000-residential-units-expected-to-be-completed-by-end-of-2019

World's largest sports mall on track for Q1 2020 launch in Dubai

The overall construction of the Sport Society mall will be done by the end of this year

Sport Society mall will also feature large LED screens in which major sporting and entertainment news will be broadcast, as well as a large ice hockey rink that will be cooled to -5 degrees C during the summer months.

The construction of the world’s largest sports mall, Sport Society, is progressing on schedule in Dubai according to developer Viva City and contractor Khansaheb.

According to a report in Arabian Business sister publication Construction Week, the first floor of the development is Mirdif is ready, with overall completion slated at the end of 2019.

The mall is scheduled for launch in Q1 2020. Construction has also already begun on the second of the project’s three floors. The ground floor of the mall has been designed to host and organise sporting events, with the other two floors to feature sports-focused stores, as well as restaurants and cafes that will offer organic diet-friendly options.

Once completed, the Sport Society mall will also feature large LED screens in which major sporting and entertainment news will be broadcast, as well as a large ice hockey rink that will be cooled to -5 degrees C during the summer months.

Steve Flint, the group general manager of Khansaheb Civil Engineering, said that the contractors previous record in the industry was “the deciding factor” that allowed it to win the project deal.

“We employ an integrated process in managing and coordinating all elements of design, ensuring consistency between different construction processes, as the volume of work in the project is huge as well,” he added.

Viva City’s head of design, Edgar Bove, said that the Khansaheb’s “efficient operations” were vital in ensuring that construction progresses on schedule.

“The world-class building is well under way and on programme, due to the depth of Khansaheb’s experience, innovation and expertise in building such key retail projects,” he said.

Shaikhani Group explained, Dubai is known by doing things on right time, they come up with those ideas where people think’s it is not possible, long time ago Dubai was a desert, now no one can say this was a desert. People love to visit Dubai for holidays, because all facilities are there including security which is a basic necessity of life.

They moved to Dubai from Karachi because of security and infrastructure, because of Dubai’s environment they have Invested Millions of Dollars to facilitate and give the freedom to the owner of their projects.

Shaikhani Group is working in Dubai since 1993, there was a time where 2000 Companies came and registered themselves as Real Estate Developers, In today’s time very company survived, because of rules and regulations of Dubai, shaikhani is one of them who are still working in Dubai, They have a different project which are still in progress soon it will be handover, those projects are Gardenia, Champions Tower 3, Cambridge Business Centre and others are in pipeline. This is the benchmark and trustiness of the company that if you invest with them, it will be secure and fruitful in future. Further details visit their website www.shaikhanigroup.com

https://www.arabianbusiness.com/construction/411647-worlds-largest-sports-mall-on-track-for-q1-2020-launch-in-dubai

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