RERA, Dubai’s Real Estate Regulatory Authority has announced that it has started to suspend the trading licences real estate brokers in the Emirate, who have failed to register with their official Licensing Department. The move follows numerous warnings over the past few weeks to real estate brokers who have so far refused to conform to the new rules.

‘RERA has encouraged all brokers to formally register with the agency and those who have not registered should do so as soon as possible,’ said RERA Brokers Licensing Department Director Yousif Al Hashimi.

RERA has moved swiftly to back up their threats of suspending broker’ licences, and last week took action against Sulehri Real Estate, who were not registered with RERA, despite being registered with the Dubai Department of Economic Development.

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A report out this morning from Jones Lang LaSalle has predicted that the Dubai real estate market will see a sustained period of growth in both rentals and property prices from 2011 onwards, but that 2009 will rather be a correction period.

The report also stated that a number of Middle East North Africa (MENA) markets may in fact start to return to growth in 2010, however this was unlikely to include Dubai due to the significant levels of new supply in the property market. According to the report, Dubai has suffered more than other markets due to the greater level of exposure to overseas investment throughout the emirate.

“The region’s capital markets are at risk. Banks have stopped lending and are now seeking ways to reduce their over exposure to real estate.

“Developers are experiencing severe cash flow risk from defaulting buyers and a dried-up debt market; investors are waiting for ‘blood’ before they begin acquiring and many have lost wealth in the stock markets. Meanwhile, sellers’ expectations are still too high as they have not yet fully adjusted to the new market realities,” the report said.

>> More information on property in Dubai

A senior executive at the Dubai property developers Nakheel has stated that the future for the Dubai property market may in fact lie in the low to middle price property markets.

Johann Schumacher, Managing Director of Palm Jumeirah, one of Nakheel most iconic projects told the Khaleej Times that falling demand in high end property in Dubai is causing a shift in the market dynamic in the emirate.

To date, the property market in Dubai has been driven by the demand for high-end, luxury apartments and villas in destinations such as the Palm Jumeirah. As such, there has been a gradual increase in the demand for low to mid-range in Dubai. 

>> More information on property in Dubai.

Eye Park is a stunning collection of six mixed use towers, located around a central ‘oasis’ style plaza area at the base. Situated in the popular area of Arjan, at the entrance to the Dubailand development, the Eye Park towers will offer a total of 1,370 units. The apartments will comprise of one bedroom and two bedoom luxury apartments, which are available in a variety of different floor areas.

As well as the luxury apartments, the Eye Park will also be home to numerous leisure facilities including an indoor and outdoor swimming pool, a health club and relaxation centre as well as a number of boutique shops and restaurants.

The six elegant towers of the Eye Park are designed in keeping with the ‘art deco’ style of architecture so typical of New York in the 1920’s.

If you would like to find out more about our range of Dubai real estate, why not visit our site at www.property-dubai.tv, were we offer a wide range of property in Dubai.

Town Central is a modern architectural design offering the finest residential lifestyle. A stylish red building over looking the main street and a landscape that’s a visual delight. Surrounding you are prime neighbourhood, world class amenities and a wide variety of distinctive facilities to suit an life style. All this, in a location that in itself is perfect for your investment.

The two residential G+7 towers offer a range of studio and one bedroom units, with discounts available for half and full floors.

Studio apartments from – AED 889,000
One bedroom – AED 1,355,000

Town Central – Location in Dubai World Central (DWC).
The 140 square kilometre – Dubai World Central (DWC) can rightly be considered the most strategic commercial infrastructure development to be launched in the Middle East in recent times. Dubai World Central (DWC) is a multi-phased development comprising 6 clusters that span an area twice the size of Hong Kong Island. Positioned next to the Jebel Ali Port and Free Zone, it ensures sea to air connectivity in less than 4 hours, a world leading turnaround time. With links to the emirates light rail network, the Dubai Metro, and several high capacity road networks, Dubai World Central (DWC) aims to transform the region into one of the most powerful global centres for logistics, tourism and commerce.

In addition, this self-contained city within a city will house a living and working population exceeding 750,000, a number larger than the combined populations of Zurich and Brussels, and greater than the current population of Frankfurt. Residential City, Dubai World Centrals (DWC) designated area for living will provide additional housing for the many thousands who are expected to make the emirate their home. Serviced by a spate of facilities including schools, malls and hospitals, Residential City is ideal for existing DWC staff and an essential ingredient in the make-up of the massive project.

Covering approximately 800 hectares of prime land, Dubai World Central (DWC) targets middle income households with the mammoth urban aviation community. Residential City, when complete would accommodate over 260,000 people, and will be linked to the Peripheral Road around the Dubai World Central International (JXB) airport, thereby offering easy access to other DWC components and adjoining developments.

The DWC is centered on the light rail system that runs along the main spine of the Residential City, serving both the eastern and western edges of the development heart. A well-integrated road network links diverse sections and offers incumbents of Residential City reliable access to their workplaces. Apart from residential spaces, this massive development also incorporates a multitude of commercial units including 3 hotels, five-star, four-star and three-star properties and a shopping mall.

Located in the centre of Dubai, a multi-cultural city with centuries of cross-border trading knowledge, WCLC is placed into the middle of a powerful global logistics network:

Town Central – Features and facilities
- Freehold status
- Covered parking on the basement level (1 free parking including in residential units)
- Pools
- Health club
- Sauna
- Multifunction room
- Barbeque area
- Garden
- Tennis court
- Badminton court
- Mini football court
- Jogging track

Prices
Starting from 1BR @ AED 1950/sq.ft & STD @ AED 2250/sq.ft. on Ground floor, with an increase of AED 10 per floor.

Discounts
Full Floor = 15% Discount on Full Floor.
Half Floor = 12% Discount on List Price.
Quarter Floor = 10% Discount on List Price
Individual Unit = 7.5% Discount on List Price.

If you would like to find out more about our the Town Central, or indeed any of our wide range of Dubai real estate, why not contact a member of our sales team on enquiries@property-dubai.tv.