Emaar plans to test improving Dubai property sentiment for a second time with plans to build more than 250 villas at Arabian Ranches.
After crowds queued in 40°C summer heat to get their hands on its previous release, Emaar opted for a slightly more high-tech method for dealing with the anticipated surge in demand associated with its latest property launch.
The developer behind the world's tallest tower is selling 253 villas at an extension of its Arabian Ranches scheme off the Emirates Road. But purchasers can register to buy only online.
Potential buyers interested in Emaar's 3,100 to 3,750 square feet villas can register online via the company's website from today to attend a sales launch on Saturday.
The development of Moroccan-style three and four-bedroom villas dubbed Casa - inspired by the Moroccan city of Casablanca - will be located next to Emaar's existing Arabian Ranches scheme but diagonally opposite the polo club.
The new scheme is understood to be located on a plot of land bought from rival property developer Dubai Properties Group (DPG) in July. It is located in what was earmarked to be part of DPG's stalled Dubailand development.
This week, Dubai's largest contractor Arabtec announced it had been appointed by Emaar to build 33 villas and 62 townhouses at Arabian Ranches.
The new Casa community that local agents say is set to be completed by the end of 2014 is also set to also include schools, a health club, and cafes and restaurants. Homes will not have their own swimming pools but with plot sizes of about 5,000 sq ft, agents say they will be large enough for residents to install them.
"The further enhancement of Arabian Ranches reflects our growth strategy to develop residential projects that add value to our stakeholders. It will lend further impetus to Dubai's real estate sector," said Ahmad Al Matrooshi, the Emaar managing director.
"This has been a historic year for Emaar, as we reiterate our credentials in developing world-class real estate assets in Dubai, our home-market." The new sales launch follows that of The Address The Blvd, a scheme of 542 serviced apartments in Downtown that sold out within days, prompting scenes of long queues outside the company's sales building.
"We anticipate that there will be a lot of interest in this scheme," said Mario Volpi, the head of sales and leasing at Cluttons Dubai. "Now we'll just have to see whether the website crashes with all this demand."
On Monday, Emaar announced in its detailed accounts to the Dubai bourse that revenue from apartment sales more than tripled in the third quarter of this year, to Dh567 million (US$154.4m) from Dh183m last year. However, income from commercial properties plummeted at the same time from Dh798.4m to just Dh109m leading the company to announce a 37 per cent profits dip compared with the previous quarter and a 5 per cent fall year on year.
lbarnard@thenational.ae
Tightening the screw on rogue recruiters
The UAE overhauled the procedure to recruit housemaids and domestic workers with a law in 2017 to protect low-income labour from being exploited.
Only recruitment companies authorised by the government are permitted as part of Tadbeer, a network of labour ministry-regulated centres.
A contract must be drawn up for domestic workers, the wages and job offer clearly stating the nature of work.
The contract stating the wages, work entailed and accommodation must be sent to the employee in their home country before they depart for the UAE.
The contract will be signed by the employer and employee when the domestic worker arrives in the UAE.
Only recruitment agencies registered with the ministry can undertake recruitment and employment applications for domestic workers.
Penalties for illegal recruitment in the UAE include fines of up to Dh100,000 and imprisonment
But agents not authorised by the government sidestep the law by illegally getting women into the country on visit visas.
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TO A LAND UNKNOWN
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- ATL – Hartsfield-Jackson Atlanta International Airport
- BOS – Boston Logan International Airport
- BWI – Baltimore/Washington International Airport
- CLT – Charlotte Douglas International Airport
- CVG – Cincinnati/Northern Kentucky International Airport
- DAL – Dallas Love Field
- DCA – Ronald Reagan Washington National Airport
- DEN – Denver International Airport
- DFW – Dallas/Fort Worth International Airport
- DTW – Detroit Metropolitan Wayne County Airport
- EWR – Newark Liberty International Airport
- FLL – Fort Lauderdale/Hollywood International Airport
- HNL – Honolulu International Airport
- HOU – William P. Hobby Airport
- IAD – Washington Dulles International Airport
- IAH – George Bush Houston Intercontinental Airport
- IND – Indianapolis International Airport
- JFK – New York John F. Kennedy International Airport
- LAS – Las Vegas McCarran International Airport
- LAX – Los Angeles International Airport
- LGA – New York LaGuardia Airport
- MCO – Orlando International Airport
- MDW – Chicago Midway International Airport
- MEM – Memphis International Airport
- MIA – Miami International Airport
- MSP – Minneapolis–St. Paul International Airport
- OAK – Oakland International Airport
- ONT – Ontario International Airport
- ORD – Chicago O’Hare International Airport
- PDX – Portland International Airport
- PHL – Philadelphia International Airport
- PHX – Phoenix Sky Harbor International Airport
- SAN – San Diego International Airport
- SDF – Louisville International Airport
- SEA – Seattle–Tacoma International Airport
- SFO – San Francisco International Airport
- SLC – Salt Lake City International Airport
- TEB – Teterboro Airport
- TPA – Tampa International Airport
The specs: 2019 Jeep Wrangler
Price, base: Dh132,000
Engine: 3.6-litre V6
Gearbox: Eight-speed automatic
Power: 285hp @ 6,400rpm
Torque: 347Nm @ 4,100rpm
Fuel economy, combined: 9.6L to 10.3L / 100km
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%3Cp%3E%3Cstrong%3ECompany%20name%3A%20%3C%2Fstrong%3ENomad%20Homes%3Cbr%3E%3Cstrong%3EStarted%3A%20%3C%2Fstrong%3E2020%3Cbr%3E%3Cstrong%3EFounders%3A%20%3C%2Fstrong%3EHelen%20Chen%2C%20Damien%20Drap%2C%20and%20Dan%20Piehler%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20UAE%20and%20Europe%3Cbr%3E%3Cstrong%3EIndustry%3C%2Fstrong%3E%3A%20PropTech%3Cbr%3E%3Cstrong%3EFunds%20raised%20so%20far%3A%3C%2Fstrong%3E%20%2444m%3Cbr%3E%3Cstrong%3EInvestors%3A%3C%2Fstrong%3E%20Acrew%20Capital%2C%2001%20Advisors%2C%20HighSage%20Ventures%2C%20Abstract%20Ventures%2C%20Partech%2C%20Precursor%20Ventures%2C%20Potluck%20Ventures%2C%20Knollwood%20and%20several%20undisclosed%20hedge%20funds%3C%2Fp%3E%0A
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Initial investment: Undisclosed
Investment stage: Series A
Investors: Core42
Current number of staff: 47
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- On sale: 2026
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Centre Court - 4pm (UAE)
Gael Monfils (15) v Kyle Edmund
Karolina Pliskova (3) v Magdalena Rybarikova
Dusan Lajovic v Roger Federer (3)
Court 1 - 4pm
Adam Pavlasek v Novak Djokovic (2)
Dominic Thiem (8) v Gilles Simon
Angelique Kerber (1) v Kirsten Flipkens
Court 2 - 2.30pm
Grigor Dimitrov (13) v Marcos Baghdatis
Agnieszka Radwanska (9) v Christina McHale
Milos Raonic (6) v Mikhail Youzhny
Tsvetana Pironkova v Caroline Wozniacki (5)