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The downtown comes soaring to life. Witness its rise...
...See the vision by visiting us at Cityscape Dubai Booth 4B20 Hall 4
A new era begins with Abdali, the new downtown o the magazine Real estate in emerging markets October 2008 RISING AGAINST THE TIDE REBUILDING A REGION
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The downtown comes soaring to life. Witness its rise... ...See the vision by visiting us at Cityscape Dubai Booth 4B20 Hall 4 A new era begins with Abdali, the new downtown o
www.abdali.jo Live the vision
Her Name is Nurai. Making an Appearance Once Again. Resort Beachfront Estates and Water Villas. Second phase release by invitation only in Cityscape Dubai 2008, Sheikh Rashid Hall, Stand Nu
Foreword editor's note Spin cycle “Buy in gloom, sell in boom” was the prescient advice whispered in my ear by one smug investor at last month's Cityscape USA conference and exhibition in
Contents october 2008 Update 132 133 134 135 136 138 Middle East 16 What makes Dubai a unique investment choice? 20 Sorouh to build 10,000 homes in Abu Dhabi 22 Burj Dubai reaches
Contents october 2008 Focus Middle East 38 From Baghdad to Beirut DAMAC and the other developers targeting the region's conflict-prone zones 76 Planning
Middle East update A tale of two cities Peter Cooper provides some thoughts on what makes Dubai, the host of this month's Cityscape exhibition such a unique global phenomenon Cityscape Dub
Indeed, if the US economic bail-out plan achieves anything it will probably be a lowering of global interest rates and that will fuel Dubai prices higher, at least in the short term Hence rental in
Middle East update Developer profiles (gov; private; private-quasi) 80,000 Government Private Private/Quasi government 60,000 Number of hou
have also withdrawn cash from equities as the markets have fallen. But UAE real estate companies and banks have continued to deliver record profits and while profits have flattened in certain cas
Middle East update Dubai Group steps up for Saudi Arabia Financial services arm of Dubai Holding is founding member of Mazaya DUBAI – Dubai T
Middle East update Reaching for the stars Burj Dubai tops the tables of tall buildings DUBAI – Burj Dubai, the iconic tower being developed by Emaar Properties, has reached a new record heigh
Developers embrace Islamic finance Forum suggests Shariah-compliant options Sultan Ahmed Mosque, Istanbul ISTANBUL – Property developers are turning to more ethical Islamic fina
Middle East update Abu Dhabi eyes lower incomehousing Shortage of workers' accommodation thrown into spotlight ABU DHABI – ZonesCorp, the Higher Corporation for Specialize
Middle East update Nobles celebrates US$500m Libyan deal Twin tower complex in the heart of Tripoli TRIPOLI – Dubai-based Nobles Properties has clinched a US$500 million contract for a major w
Financial Harbour Italian job for select residential project Ferragamo in interior design agreement for Pentominium DUBAI – Italian luxury fashion house, Salvatore Ferragamo Italia, will design som
Emaarbuy-back cannot execute any share buy- back 15 days before the end of fails to stimulate
Middle East update Mixed-use mega projects here to stay Modern lifestyles demand large, mixed-use developments says real estate boss Powering the new pyramids Timelinks to unveil city
Al Mazaya plans Al Mazaya project expansion into Ajman and Bahrain Company to showcase projects worth US$5 billion at Cityscape Dubai KUWAIT - Al Mazaya Holdings is se
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Market snapshot insight Marketsnapshot: UAE FDI Source: fDi Intelligence from The Financial Times REPORT HIGHLIGHTS t #FUXFFO+BOVBSZBOE+VMZG%J.BSLFUT recorded a total of 1,326 investment proj
Middle East focus ISTHECOST OFLUXURY SUSTAINABLE? Arlo Clewett looks at a selection of the mega-projects in the Middle East and asks just how stable an investment are they?
Arcapita Headquarters, Bahrain Bay BAHRAIN BAY, BAHRAIN A central island connected to the mainland by two bridges forms the inner harbour of Bahrain Bay, from which circular bands radiate out. The de
Middle East focus Sanaya Amman. The twin towers will be the country's tallest buildings, standing at over 200 metres. The US$300 million development will include 500 apartments, retail and re
Middle East focus Burj Dubai Trump International Hotel & Tower, Dubai King Abdullah Economic City, Saudi Arabia Nura
Middle East insight ON THE RIGHT TRACK Trains are kings of the road in terms of efficiency, environmental impact and traffic congestion, but the Middle East is only now considering a change of trac
Dubai Metro The seeds of Dubai's metro system were first sown back in 1997 when a three-year feasibility study was undertaken. That study concluded that Dubai could no longer wholly rely
Middle East insight However, the key to the success of the metro system will be persuading people to abandon their car dependency. In the hot climate of Dubai, people a
Middle East insight as well as passengers. Initial plans were submitted at a meeting of the transportation ministers of the GCC in Riyadh in June 2008, as part of efforts to i
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Market snapshot insight Marketsnapshot: SaudiArabia INDUSTRY ANALYSIS: No. of Projects by Sector Among the top sectors, the Hotels & Tourism sector recorded the highest growth at 115 percent per a
Middle East focus CHANGING PLACES With Iraq and Lebanon eagerly reaching out to international investors, some developers have decided now is the time to take the plunge – but do the operational c
Arch of Ctesiphon, Bagdad WHY KURDISTAN? t Located in northern Iraq, its unified government is ruled by Nechirvan Barzani who was elected in January 2006 and, by Iraq standards, it's secur
Middle East focus TOURISM ON THE RADAR A US-based investment group has laid the foundation stone for the US$100 million Baghdad Two Rivers hotel. The five- star hotel, proposed in th
Middle East focus ( In Beirut, Solidere launched the Phoenician Village development two years ago, which is coming up on a 20,000 square metre area, to create a mixed-use develop
Aquitainia the most exclusive address in the world launching 5th october. Aquitainia is an island paradise located on the prestigiousTheWorld project 4km off t
International insight ANOLYMPIC CHALLENGE As the excitement of the 2008 Beijing Olympics dies down, the wheels are already in motion for London 2012. Former Lord Mayor, Ken Livingstone
Belsize Park
Uxbridg West R w Burnt
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Market snapshot insight Marketsnapshot: Qatar INDUSTRY ANALYSIS: No. of Projects by Sector Sector 2003 2004 2005 2006 2007 2008 Total Average Annua
Lawyer profile Property law pioneer Lisa Dale is a partner and head of property at Al Tamimi & Co, one of the largest law firms in the Middle East. She spoke to Michael Gordon about the challenges
Lisa Dale THE EARLY DAYS CARVING A CAREER PATH Dale's first year in
Lawyer profile Al Tamimi now has offices in Doha, Baghdad and Riyadh, and by the end of the year it will open one further office within the Middle East. With the property world there is a
Middle East focus PLANNINGFOR PROSPERITY Catherine Walker looks at what's driving property development in Egypt and Jordan 76 $ Cityscape $ october 2008 Both Egypt and Jordan have signifi
Abdali Urban Regeneration Project, Amman, Jordan However, Jordan is now under considerable inflationary pressure
Middle East focus Aqaba, situated on the Red Sea, has emerged as an economic centre second to the capital Amman, and Aqaba Special Economic Zone was est
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Middle East focus As economic reform has taken place, Egypt has developed a wealthy middle class. Real estate in Egypt continues to grow with greater access to mortgage finance, continue
Middle East focus TUNINGINTOFM Buoyed by the new Strata Law and a greater emphasis on standards and accountability, facilities management companies are now playing a more active role at all stages
Traditionally, developers only dusted down the facilities management (FM) handbook when the last brick had been laid, but now this industry within an industry – tipped to be worth a staggering US$892
Middle East focus “There's a move away from companies managing individual
Middle East focus ( Priority must be given to educating investors and developers of the importance of facilities management and the role it plays in improving performance Freehold property la
Market snapshot insight Marketsnapshot: Bahrain FDI Source: FDi Intelligence from the Financial Times Figures from January 2003 to August 2008 REPORT HIGHLIGHTS t #FUXFFO+BOVBSZBOE+VMZG%J.BSLFUT
Architect profile Gordon Hill and Adrian Smith The Grand Boulevard, Dubai
TALL ORDER American architect, Adrian Smith, is best known for iconic designs such as the Burj Dubai, the Pearl River Tower and the Trump Internati
Architect profile Burj Dubai, Downtown HYDRODYNAMICS Rainwater chanelled for irrigation Excess water stored in cistern, controlled release to treatment systems Verde, M
Architect profile HYDRODYNAMICS Grey water for irrigation Fertiliser to garden On-sitewater Reduced water treatment
www.soccertower.ae For conv1esntiPenrot,jeScatfein, FDunbanidSpcortsfoCritaybleitrhesLiGdentoialelinfetanyti e. m H w m m ? 25 stories of residential opulenc
DubaiLifestyleCity Anexclusivelifestyleoffer that'shardtoresist ArifB.Rahman ManagingDirector,DubaiLifestyleCity Thinkingofbuyinganultra-
Residentswillbeabletoenjoyuser-friendly home control and monitoring system, advanced security features, high de?nition hometheatresystem,mediaentertainment, IP communication system and interactiv
Middle East focus CSR:TAKING RESPONSIBILITY SERIOUSLY Are Corporate Social Responsibility initiatives merely lip service in the battle to gain competitive edge, or are the region's real estate pla
( Withthesub-primecrisismakingtheglobalmarketplaceeven more competitive, local brands cannot afford to be seen to falter inanyway,andthechallengerightnowistogetCSRintothe
Middle East focus Saraya Aqaba Ali Kolaghassi DEVELOPING FUTURE LEADERS
Middle East focus ( Kabul University For a credible CSRprogramme,itneedstoleveragethe core competencies of the p
Middle East focus Habitat for Humanity, Pakistan EXPERT OPINION Q&A with Dr Fatih Mehmet Gul, network and communication manager, CSR Middle East CSR Middle E
Middle East insight THEBIG BANGTHEORY With property prices taking a dive in the Western world, as a result of the ensuing credit crisis, Michael Gordon investigates whether th
Middle East insight Dubai Marina However, Foulds believes that some of the secondary markets and lower quality products are more at risk than the Grade A
International focus MONUMENTAL UNDERTAKINGS Archaeological sites across the world can be successfully and sympathetically integrated into real estate developments, as Arlo Clewett discovers The
to plan and assist in the growth of the area. It is an opportunity that Lord Foster relishes: “This is one of the most beautiful and little-known landscapes on Earth. We've been given a unique challe
International focus Hampi, India Sana'a, Yemen within the city's boundaries will increase the value of new real
International focus Morgan cites Angkor Wat, in Cambodia, as a good example of positive preservation fostering economic development, and the figures support his claim. According to of
Market snapshot insight Marketsnapshot: Kuwait FDI Source: fDi Intelligence from the Financial Times REPORT HIGHLIGHTS t #FUXFFO+BOVBSZBOE+VMZG%J.BSLFUT recorded a total of 76 investment pro
International insight LEED is a performanc nted rating system where buildin jects earn points for satisfying criterion gned to address specific environment pacts inherent
R U ej s N P B B LO O A LE G OJ IL usi CA WN WA ED O EC DI ne TI ER RD L SS T NG s O T E EV S N : Y D: E Q AME: C TYPE: G Centre Hyder PE: No 31.10
International insight Istanbul Turkey:Retail The Turkish economy is in much better shape than it
Imagine an ocean breeze sweeping across white sands, carrying the invigorating scent of salt air from the sea to your abode.Wake up in the morning and relax in yourowninnitypoolorwalktoyourownprivate
Istanbul ( Ongoing structural change towards more services and, especially,theshortageofmodernofficesupplyisthe foundationforstrongdemandforinvestmentinoffice s
International insight This rapid urban growth makes it difficult to ensure that the local transport, water, sewage, and power infrastructure are developed at a corresponding rate. The ongoing
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India update Sahara enlists companies to build Nagpur township Four firms awarded contract for new residential project MUMBAI – The Sahara Group has enlisted four companies to develo
Indian minister outlines plan for affordable housing Focus on providing support for India's middle and lower classes MUMBAI – An Indian government official is launching a new affordable housing initi
India update IT sector slump hits real estate business in Chennai Developers misread mood of prospective buyers CHENNAI – The crisis facing the so-called IT corridor in C
Kolkataresidentslooktosuburbs Soaring city land prices lead to flood of new projects on outskirts KOLKATA – Homebuyers in Kolkata are scouring suburban areas for more affordable housing, it has been
India update TrumppoisedforIndiandebut Property magnate targets Bangalore tower as the first real estate project in India BANGALORE – Donald
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India update Perungudi holds mirror up to realty reality Infrastructural development mandatory to cope with real estate growth CHENNAI – Infrastructure development projects have fuelled real e
Property Development Property Management International Property Brokerage Investments www
Market snapshot insight Marketsnapshot: Oman FDI Source: FDi Intelligence from the Financial Times Figures from January 2003 to August 2008 REPORT HIGHLIGHTS t #FUXFFO+BOVBSZBOE+VMZG%J.BSLFUT
Pure. Pedigreed. Ultimate. SILVER STALLIONS 1 & 2 SANTORINI Asense of perfection, clarity of vision, and excellence are the facets of Stallion Properties that are setting new sta
Asia insight MARCHOFPROGRESS Gordon Feller reports on Asia's burgeoning need for effective urban management It's a well documented fact that Asian cities are growing at an exp
Providing jobs and services to this rapidly expanding urban population, and to improve the livelihood and quality of life for those already in the cities, is a mammoth task. And, this has to be a
Asia insight of different city typologies, population, economic activity, and land use dynamics is essential to understand urban development. Clearly, there are distinctive management needs f
Asia update Vietnamese firm clinches Cuban golf course Bilateral trade agreements tally in excess of US$272 million VIETNAM – A Vietnamese firm has clinched a deal with a Cuban tourism
Kun Won appointed as architect UAE developer hires South Korean firm for Algeria waterfront project KOREA – UAE developer, Snasco, named South Korea's Kun Won as the architect appointed to a waterfro
Asia update Abundance or shortage of apartments for lease in Ho Chi Minh City? Conflicting reports on availability of real estate VIETNAM – Foreign real estate service provider CB Richard Elli
Asia update Thai developers seal deals with AIG and Prudential Asian-sourced funding `will be secure' THAILAND – Two Thai real estate companies have insisted that joint ventures with two majo
Brand your mind Sustainability: a new mindset Visit estidama.org
Asia update Property trading floor for Hanoi part of bank's development plan VP Bank to provide capital to both real estate investors and buyers VIETNAM – A real estate trading floor will be o
Market snapshot insight Marketsnapshot: Jordan FDI Source: fDi Intelligence from the Financial Times Figures from January 2003 to August 2008 REPORT HIGHLIGHTS t #FUXFFO+BOVBSZBOE+VMZG%J.BSLFUT
China update ChinaVankenotesdecline China's largest developer posts fall in property revenue BEIJING – China Vanke, the country's largest listed real estate developer has indicated property s
Optimistic outlook for China's real estate Urbanisation drive to bolster demand BEIJING – Real estate development in China will yield strong returns in the long run despite the current sluggish dema
China update Amodelconstructionproject `BIM' programme can cut costs and time HONG KONG – The world's largest air cargo terminal building is taking shape at the Cathay Pa
Capabilities include Environmental Story Telling through: o Master Planning o Attraction Design o Special Venue Design o Media Development & Production
China update China shift in policy priority Move from tightening to strengthening BEIJING – Recent signs suggest that regulators are shifting policy priority from tightening to sustaining growt
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Market snapshot insight Marketsnapshot: Egypt FDI Source: fDi Intelligence from the Financial Times Figures from January 2003 to August 2008 REPORT HIGHLIGHTS t #FUXFFO+BOVBSZBOE+VMZG%J.BSL
International green pages Thebigblue After facing criticism from environmentalist groups, Nakheel has decided to take matters into its own hands and launch a new global initiative for best practic
Dubai coastline master plan When Mark Twain issued his famous lesson in real estate, “buy land, they're not making it any more,” he obviously didn't envision a company like Nakheel. By the
International green pages ISLANDS IN THE STREAM By citing the ports of antiquity, El-Baz makes the valid point that mankind is no stranger to coastal develo
International green pages TOMORROW'S WORLD Chandran Nair, the founder and chief executive of the Global Institute for Tomorrow, is one individual who is not convinced by Blue Communities. In
Visit us in Cityscape Dubai Stand No. 1B30, Hall No. 1, 6 - 9 October 2008 Tel: +973 17102102 P.O.Box 23239, Manama, Kingdom of Bahrain
International green pages Green giants The real heroes of the developing world are not the headline-grabbing steel and glass towers, but the handful of green buildings currently `walking the
( We had to challenge the old building ethos ofthecountry–theideathateverything shouldbebuiltasquicklyandascheaply as possible The team set out to use creat
International green pages Landmark Cyber Park, Gurgaon Zero Emissions House, Tokyo Zero Emissions House (
International green pages MASDAR INITIATIVE, ABU DHABI, UAE Architects Adrian Smith and Gordon Gill beat 159 competitors earlier this year to win the design rights for the first building in Masda
Middle East green pages Basktakiya, Dubai TALKING HEAD Cityscape Intelligence talks regional sustainable design priorities and research studies with Nader Ardalan, head of the Gulf Research Pr
) climate. The project documented this vital lesson scientifically and technically, by showing how, for example, microclimates in these courtyards are so conducive to creating basic human comfort co
Middle East green pages Burj Dubai under construction ) The region is also extremely wasteful on its construction sites and in methods of constructi
Over three decades of international experience in real estate development and construction. Visit Sobha at Cityscape, 6 - 9 October 2008, stand RQ-15, Sheikh Rashid Hall, DIEC. AVANT DXB The Sobha
Cityscape exhibition news Home and away Inaugural Cityscape USA event highlights domestic real estate issues and offers insight into emerging markets The Cityscape brand
Cityscape exhibition news Opportunities in the Middle East was also a hot topic with US-based Michael Shvo – who has recently opened an office in th
The Middle East's 1st Dedicated PreLaunch Real Estate Portal Be ahead of the rest and register for PreLaunch opportunities in Dubai, Abu-Dhabi and beyond 12 projects secured exclusively till en
International insight DueSouth As Latin America seeks to forget its shaky economic past, investors from the Gulf region are looking to cash in on an emerging real es
Mexico LATIN FEVER The fund has certainly given itself a large remit. Latin America is a sprawling and heterogeneous market, and the fund purports to be investing
International insight Caracas, Venezuela Richard Rosan Rio De Janeiro, Brazil ( When
4 – 6 November 2008 Sao Paulo – Brazil Transamerica Expo Center Latin America's Largest International Real Estate Investment and Development
Cityscape exhibition news How safe are the Gulf's diversifying investments? As North America struggles, South America gains Cityscape Latin America returns to Sao Paulo in Brazil thi
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Zmags improved online publishingCityscape - October 2008
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