May issue 2016

REAL ESTATEU P D A T E

MAY 2016 ISSUEYour property information e-magazine

04 | Featured Property: Emirates Crown, Dubai Marina

12 | Breaking the “oil rich” stereotype

and much more...

06 | Be a homeowner: 5 questions you should ask yourself.

EMiratEs Crown,Dubai Marina

Rated among thetop 10 companies

in United Arab Emiratesby Dubai Land Department

Office 1401, API Trio Office Tower, NOVOTEL Building,Al Barsha , Sheikh Zayed Road, Dubai, United Arab Emirates, P.O. Box: 450079

Tel: +971 (0)4 392 8831 • Fax: +971 (0)4 392 8832 • Mob: +971 (0)50 103 6931Email: [email protected] • Website: www.astonpearlre.com

E D i t o r i a L s ta F FPriyesh Patel

Managing Director

Kristjuan MarkvukajEditor-in-Chief

Michelle aguantaFinance & HR Administration Manager

anjum BhatWriter & Editor

BenCh FernandezGraphics Designer

Joel santiagoPhotographer

Christelle PrudentContributor

E D i t o r i a L s ta F FPriyesh Patel

Managing Director

Kristjuan MarkvukajEditor-in-Chief

Michelle aguantaFinance & HR Administration Manager

anjum BhatWriter & Editor

BenCh FernandezGraphics Designer

Joel santiagoPhotographer

Christelle PrudentContributor

04

For Rent Properties atJBr, arabian ranches, Dubai Marina,

Juymeirah islands, Palm Jumeirah,Business Bay, DiFC & JLt

For Sale Properties atDubai Marina, Business Bay

& Jumeirah Lake towers

For Sale Properties atarabia ranches, Jumeirah islands

& Palm Jumeirah

For Sale Properties atJVt, JVC, JBr

& Downtown Dubai

Breaking the “oil rich” stereotypeHow Dubai has emerged as the most

preferred destination for investors.

Be a homeowner:5 questions you should ask yourself.

Featured Property:Emirates Crown, Dubai Marina

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Emirates Crown, DuBai MaRinaFeatured Property

Emirates Crown, Dubai Marina

• 5 Bedrooms Penthouse• 7,687 sq. ft. BUA• High Floor• Full sea view• One of the best and exquisite units in Dubai Marina• Unobstructed Sea View from living Area and full Marina View from Bedrooms• 180 degree open breathtaking view• Vacant on transfer

Emirates Crown is a luxurious tower located centrally, and right opposite the Dubai international Marine Club in Dubai Marina, offering quick access to the marina and the beach. Emirates Crown offers modern and spacious 2 and 3 4 bedroom apartments and penthouses with unprecedented views of the marina, craft fully architected with floor to ceiling windows and superior finishes. Emirates Crown offers its residents world class amenities that include barbecue area, swimming pool, steam and sauna rooms, gym, squash court and round the clock security.

Ref. no.: AP-S-15594AED 14,750,000

Like all of us, are you tired of wasting your hard-earned paycheck month after month on rent?

Well, if you’ve consciously budgeted each month over the years, and have built up a significant savings, it might be the time to consider buying. Yes, become a homeowner!

Buying your first home is a big step towards building your personal wealth. Chances are that this will be one of your big investments, if not the biggest. So it’s important to ensure that you have done all the necessary research before you sign an offer to purchase the property of your dreams.

Are you ready tobe a homeowner?while it may not be a big deal to grab something off the sale rack at the local department store, the decision to buy a home requires thoughtful planning and decision making. once you’ve made your offer to purchase and it’s accepted, the transfer process commences to register the home in your name. this is a costly exercise and must be factored into the cost of the property. Due to the expense involved, you’re unlikely to be able to get a return on your money, if you sell your home in the next few years, so make sure before buying that you’re ready to stay put for a long period of time.

Buying your dream home has got to rate amongst the best feelings in the world, but keeping your home in good condition requires not only money but also time and effort. Make sure you’re in a position to dedicate all of these to deal with on-going maintenance, upgrades and improvements that will be necessary to keep your home looking good, if not better than the day you moved in. Your property is an investment and you need to take good care of it, if you don’t want to lose money when you decide to sell in the future.

Be a homeowner:5 questions you should ask yourself.

by: Christelle Prudent

How much can you actually afford?

What do you wantbefore you go looking?

Will this home still fulfil all my needs if later on?

Which area is for me?

You can’t start searching for your perfect home until you know what you’re looking for. Decide what your actual needs are: number of bedrooms and bathrooms, private garden or spacious balcony with tHE view, security, off-street parking, staff quarters, pet friendly etc. Be realistic with your wish list and identify what is an essential ‘must have’ and what you would be willing to compromise on. a crystal clear idea of your needs will help you go through the properties for sale and will save you time and disappointment.

The expense involved in buying a home can mean that you live there for much longer than you intended when you bought it. Life happens and needs change and sometimes your initial idea of buying this home for a limited time before selling and moving to “the perfect’ place just never happen. Because a house is a huge investment, you must be happy with your home for as long as you live there.

take into account that you may gain or lose a partner, have children or watch them leave home. You’ll get older and that beautiful loft area may be hard to reach on legs that are no longer as strong. Plan for the future and make sure that your investment will serve you well over time and that you will always feel that this home is your castle - the place of your dreams.

Buying a house is not an everyday thing; therefore it must be one of the best times in your life that’s why once you’ve thought through the emotional and financial aspects of becoming a homeowner, Aston Pearl real estate brokers is ready to guide you through the process to achieve your dream of homeownership.

so if you’ve never bought a home before, rest assured you’ll be in very safe hands with us. we’ll be right there with you from the very first interview until the day you get the keys to your very own real estate. if you’d like us to help you call +971.56.29.66.320 or email us [email protected]

When it comes to first time buyers, we’re with you all the way.

when considering purchasing a home you’re considering a lifestyle choice that requires you to think about how you like to spend your time and the type of community where you want to live—such as a rural area without neighbours, a high-rise building in a city or a home within a planned community with recreational amenities.

where you buy your home is very important because once you’ve bought it, you can’t move it if you’re not happy with its location. the area where you buy is important from a security and convenience aspect, and will also influence the future value of the home.

Before you even think about whether you want a two bedroom apartment in Dubai Marina or a three-bedroom villa in the Lakes, you need to figure out what you can actually afford. That means taking an inventory of your income, expenses, assets, savings and debts.

in order to be approved for a loan, it’s important that you have a clean credit history. when you’ve made the decision to take a loan, get copies of your credit report and check that the facts are correct. if you have a credit issue, ensure that this is settled before making your application.

Before you start looking for your dream home, contact a mortgage advisor for advice on the loan amount you will be qualified for. You can also use one of the many calculators available online to check your affordability. remember to add in the additional charges that will be part of the property buying process, which includes the deposit (payable in full according to the terms of your offer), the transfer fees (due when the transfer takes place), loan application fees, etc. also factor in the costs of moving into a new home, your household insurance and the small costs like buying a second remote, changing locks or fitting a towel rail, which can add up and spoil the pleasure of a new home.

Understanding your budget will allow you to save the disappointment of looking at houses you can’t afford and will put you in a better position to make a serious offer when you do find the right property.

AL MAhRA

AED 5,500,000• 5 Bedrooms • Type 17 • Upgraded kitchen • 4,239 sq. ft. BUA • Study & maid’s rooms • Extended villa• Back to back view • Vacant on Transfer • Very quite location

AP-S-14497

ARABIAN RANCHESw w w . a s t o n p e a r l r e . c o m

ASTON PEARL REAL ESTATE UPDATE08

SAhEEL

AED 6,995,000• 5 Bedrooms • Type 3 • Vacant on transfer• 4,849 sq. ft. BUA • Maid’s room • Gazebo • Full Golf Course View • Corner & huge plot size • Outdoor entertainment area

AP-S-14126

AED 6,950,000

• 4 Bedrooms• 5,300 sq. ft. BUA• Full lake view• Maid’s room• Study room• Type A

• European Clusters• Covered parking• Vacant• Ready to move-in • Covered parking• Balcony

AP-S-15714

Entertainment Foyer-Oasis

JUMEIRAH ISLANDSw w w . a s t o n p e a r l r e . c o m

ASTON PEARL REAL ESTATE UPDATE 09

FAiRMOnT RESiDEncE SOuTh

AED 11,250,000• 3 Bedrooms • Maid’s room • Access to pool, gym & • 4,178 sq. ft. BUA • B-Type Apartment private beach• Full sea view • Upgraded & Fully Furnished • Concierge service

AP-S-16039

GARDEn hOMES FROnD E

AED 11,500,000• 4 Bedrooms • Upgraded • Atlantis view• 5,000 sq. ft. BUA • Individual Swimming Pool • Vacant• Private gardens with hardscaping and landscaping installed

AP-S-15253

PALM JUMEIRAHw w w . a s t o n p e a r l r e . c o m


SiGnATuRE ViLLAS FROnD B GARDEn hOMES FROnD O

GARDEn hOMES FROnD A SiGnATuRE ViLLAS

AED 12,500,000AED 17,500,000

AED 45,000,000AED 12,625,000

• Maid’s room• Vacant• Private pool, garden & garage

• Mid number• Mediterranean Central rotunda

• Atrium Entry• Beautifully Kept • Private Beach and Pool

• Mediterranean style• Immaculate Condition

• 6 Bedrooms • 7,500 sq. ft. BUA• 13,400 sq. ft. Plot• Sea view

• 4 Bedrooms • 5,000 sq. ft. BUA• Atlantis view• Maid’s room

• 6 Bedrooms• 6,000 sq. ft. BUA• Sea & Marina views• Furnished

• 6 Bedrooms • 7,000 sq. ft. BUA• Full sea view

AP-S-15541 AP-S-15539

AP-S-16037 AP-S-15376

PALM JUMEIRAHw w w . a s t o n p e a r l r e . c o m


Welcome to UAE, a country amidst an oil rich region, with minimum reliance on oil export revenues, a futuristic infrastructure and a solid economic outlook. UAE’s efforts to economic diversification have delivered strong outcomes in creating a favorable business climate, minimizing reliance on hydrocarbon revenues and leveraging the potential of other sectors including construction, tourism, trade, services and aviation. after instructions from the iMF in the past few years, all GCC countries have been implementing efforts for economic diversification to create a stable macroeconomic environment and shield their economies from the volatility in the global oil market. The GCC countries adopted a number of policies to reduce reliance on oil, improve trade and strengthen the business environment, liberalize foreign direct investment, and advance education and health sectors. the adapted policies and the growth model achieved significant results.

UAE was always keen of economic diversification with the emirate of Dubai on the forefront. Dubai developed from a small settlement with few natural resources, and limited infrastructure, to a global city with a modern infrastructure and the world’s busiest airport, and this significant transformation happened in less than 50 years. While other GCC countries spent oil money to improve infrastructure, Dubai was busy shaping a diverse path towards modernization. Dubai’s favorable location in the oil-rich Gulf

Breaking the “oil rich” stereotype...

by: Anjum Bhat

region and the forward-thinking policies of its leaders freed Dubai from oil dependence from 25% in the early 1990s to 4% in 2015. This was a major achievement and accelerated the rise of other sectors to create a buffer that is much necessary to absorb a shock that could arise from uncertainty in the global oil market.

Leveraging the potential of other sectors like tourism, construction, trade, and aviation sectors, Dubai achieved remarkable growth and became the most viable place for investors in the region. Dubai is now a regional hub in trade, finance and several other sectors. Dubai has built a modern infrastructure and shaped a business-friendly environment, and regulations that attract international businesses. Dubai’s airport, which already served more than 70 million travelers in 2015, is being beefed up to serve over 200 million in the coming years.

the Jabel ali port is the largest in the world and the busiest in the gulf region is expected to become the biggest container port in the world by 2030. It was the inception of the “free zone” concept in the UAE, and the model was replicated within the country and the region. there are currently 22 operational free zones in the UAE catering to specific industries, including technology, media, healthcare, finance and communication. UAE is the ranked as number one for quality of seaports infrastructure regionally, third globally, and is ranked sixth globally for seaports structure, according to the Global Competitiveness Index 2014-2015. The free zones are playing a positive role in the economic growth of the country and in 2015; companies within Dubai free zones accounted for approximately 50 % of foreign direct investment in the emirate.

Impact of low oil price on the economyGlobal oil price plummeted sharply since H2 of 2014 and reached the lowest level in 2015, this raised concerns about stability across

economies. As the UAE had already advanced in its economic diversification during the high oil price period; this had a relatively small impact on growth. the real Estate sector has been a major contributor to Dubai’s GDP and an important component of growth and employment creation. After a significant fall in global oil prices and other external factors such as a slowing Chinese economy, slow growth in the Euro-zone economies, a strong US Dollar that makes real estate more expensive for international investors holding non-USD liquidities led to a decline in property transactions and drop in sales prices. However this impact on property is more psychological than economic. UAE is well positioned to sustain the low oil price for a very long time. as per the IMF, UAE has adequate fiscal buffers to endure low oil price oil for nearly 30 years and shield the economy and real estate from any negative impact. real estate prices have not seen a major decline in the Q1 2016 and remained stagnant during the month of april, which is a sign of the market being bottomed out. as the real estate sector is cyclical in nature, sales price recovery is what we should see in H2 of 2016. Investors are returning to Dubai as property prices are at its bottom and this is possibly the best time to buy and expect high capital appreciation in the long term. the British, indians and Pakistanis have invested majorly in Dubai real estate and now the Chinese wave of investors is likely to hit the UAE as the local Chinese market is not lucrative enough due to severe changes in the past few years.

Dubai has emerged as the most preferred destination for investor’s from around the world. With the World Expo 2020 expected to attract 22 million tourists, and a diversified, robust economy, and scheduled projects worth billions of dollars, the future looks bright and marching towards growth, with or without oil.

AED 6,300,000

• 3 Bedrooms• 3,888 sq. ft. BUA• Full sea view• Maid’s room• Fully upgraded

• Great layout • On mid-floor• Luxurious apartment• Covered parking• Balcony

AP-S-14475

Emirates crown

DUBAI MARINAw w w . a s t o n p e a r l r e . c o m


EMiRATES cROwn MARinA hEiGhTS

MARinA QuAY wEST PRincESS TOwER

AED 2,650,000AED 6,000,000

AED 3,650,000AED 1,650,000

• Maid’s room• Vacant on transfer• 2 living room with 2 balcony

• Closed kitchen plan with full appliances • Unfurnished

• On low floor• Well Maintained

• High floor• Luxurious unit

• 3 Bedrooms • 3,900 sq. ft. BUA• 01-Type• Full sea view

• 3 Bedrooms • 2,099 sq. ft. BUA• Full Golf course & SZR views• High floor

• 1 Bedroom• 1,122 sq. ft. BUA• Community view• Huge terrace

• 3 Bedrooms +Maid’s room• 2,384 sq. ft. BUA• Full panoramic sea view

AP-S-15388 AP-S-15065

AP-S-13394 AP-S-15440

DUBAI MARINAw w w . a s t o n p e a r l r e . c o m


AP-S-15990

hAMiLTOn ExEcuTiVE TOwER G

AED 2,900,000AED 1,325,000

• Good investment• Best facilities• Vacant

• Maid’s room • Immaculate condition• Tenanted until Feb. 2017

• 1 Bedroom• 937 sq. ft. BUA• Mid floor unit• Burj Khalifa & Lake views

• 3 Bedrooms • 1,941 sq. ft. BUA• SZR and sea views• Mid floor

AP-S-15290 AP-S-13729

BUSINESS BAYw w w . a s t o n p e a r l r e . c o m


ExEcuTiVE TOwER M

AED 2,000,000• 2 Bedrooms • High floor• 1,399 sq. ft. BUA • Family oriented community• Community view

AP-S-14022

AP-S-15632

ExEcuTiVE TOwER G

JUMEIRAH LAkE TOWERSw w w . a s t o n p e a r l r e . c o m


GREEn LAkES 3

BOnninGTOn

AED 1,400,000

AED 2,250,000

• 1 Bedroom • Vacant• 1,085 sq. ft. BUA • Spacious layout• Marina view • With balcony

• 3 Bedrooms • Maid’s room• 1,564 sq. ft. BUA • High Floor• Jumeirah Islands view • Fully Furnished

AED 4,100,000

• 5 Bedrooms• 3,800 sq. ft. BUA• 7,000 sq. ft. Plot• Community view• Maid’s room

• With private garden• Excellent location• Close to park• Vacant

AP-S-15502

Mediterranean Villas

JUMEIRAH VILLAgE TRIANgLEw w w . a s t o n p e a r l r e . c o m


AED 2,150,000

• 4 Bedrooms• 4,427 sq. ft. BUA• Community view• Maid’s room

• Mediterranean Type • Common Pool• Excellent location • Vacant

AP-S-14346

indigo Ville

JUMEIRAH VILLAgE CIRCLEw w w . a s t o n p e a r l r e . c o m


JUMEIRAH BEACH RESIDENCESw w w . a s t o n p e a r l r e . c o m


AP-S-15566

SADAF 5

AED 2,800,000• 2 Bedrooms • Suite apartment• 1,447 sq. ft. BUA • Extremely spacious• Panoramic sea view

RiMAL 5 AL BATEEn TOwER

AED 4,700,000AED 4,200,000

• Unique unit• High floor

• High Floor Unit • Vacant• Best view and layout

• 3 Bedrooms• 1,929.20 sq. ft. BUA• Maid’s room• Panoramic sea view

• 2 Bedrooms • 1,669 sq. ft. BUA• Full sea view• Type A2B

AP-S-15507 AP-S-14981

JUMEIRAH BEACH RESIDENCESw w w . a s t o n p e a r l r e . c o m


AP-S-15562

SADAF 4

AED 3,000,000• 2 Bedrooms • Fully Furnished• 1,450 sq. ft. BUA • On high floor• Panoramic sea view • Basement parking

AL BATEEn TOwER ShAMS 4 RiMAL 4

AED 2,500,000AED 4,200,000

• Marble flooring• Floor to ceiling windows• Private elevator

• Huge living & dining area • Balcony• Fully fitted wardrobes

• 4 Bedrooms• 3,414 sq. ft. BUA• Full sea view• Modern Kitchen

• 2 Bedrooms • 1,300 sq. ft. BUA• Sea views• High floor

AP-S-14573 AP-S-14535

w w w . a s t o n p e a r l r e . c o m


DOWNTOWN DUBAI

ThE RESiDEncES 9

SOuTh RiDGE 1

ThE RESiDEncES 4

ThE RESiDEncES 5

AED 8,900,000

AED 1,900,000

AED 5,800,000

AED 2,490,000

• Mid Floor unit• Vacant• Full cash deal

• 01 Series• Vacant• Great furnishing

• 5 Bathrooms•2 Balconies• 2 Covered parking

• Cash Deal• Tenanted untill 05-11- 2016 for 120k 1 cheque

• 3 Bedrooms • 2,400 sq. ft. BUA• Old Town, The Address views• Maid’s + study rooms• Ready to Move in

• 2 Bedrooms • 1,491 sq. ft. BUA• Business Bay & Old town views• Mid Floor unit

• 3 Bedrooms + Maid’s Room + study room + Family room • 2,599 sq. ft. BUA• Burj Khalifa & fountain views• Vacant, Ready to move in• On high floor

• 1 Bedroom • 910 sq. ft. BUA• Pool view• Middle floor

AP-S-14440

AP-S-15233

AP-S-14415

AP-S-15230

w w w . a s t o n p e a r l r e . c o m


JuMEiRAh BEAch RESiDEncES ARABiAn RAnchES

JuMEiRAh iSLAnDS

Location Rent P/A BR BUA Ref. no.

Rimal 1 AED 155,000 3 1,930 ft.2 AP-R-10055

Sadaf 4 AED 160,000 2 1,447 ft.2 AP-R-10633

Shams 2 AED 140,000 2 1,323 ft.2 AP-R-10037

Rimal 5 AED 230,000 3 1,929 ft.2 AP-R-10071

Rimal 5 AED 220,000 3 1,929 ft.2 AP-R-10164

Sadaf 8 AED 240,000 4 2,941 ft.2 AP-R-10681

Sadaf 5 AED 170,000 3 1,853 ft.2 AP-R-10374


Al Reem 1 AED 145,000 2 1,691 ft.2 AP-R-10065

Alvorada 3 AED 310,000 5 4,424 ft.2 AP-R-9838

Saheel 1 AED 200,000 3 3,166 ft.2 aP-r-9995



Mirador LC AED 280,000 4 3,809 ft.2 AP-R-11081

Saheel 1 AED 230,000 3 3,216 ft.2 AP-R-9822


Ent. Foyer-oasis AED 280,000 4 5,300 ft.2 AP-R-10077

Ent. Contemporary AED 300,000 4 5,500 ft.2 AP-R-10092

European Cluster AED 300,000 4 8,500 ft.2 AP-R-10088

Ent. Foyer-Europen AED 290,000 4 5,300 ft.2 AP-R-10087

Oasis Cluster AED310,000 4 5,230 ft.2 AP-R-10090

Ent. Garden Hall Med. AED 330,000 4 5,500 ft.2 AP-R-8717

DuBAi MARinA


Marina Mansions AED 180,000 3 2,594 ft.2 AP-R-10528

Silverene B AED 120,000 1 609 ft.2 AP-R-10069

Bay Central AED 130,000 2 1,617 ft.2 AP-R-10012

Murjan AED 130,000 1 1,170 ft.2 AP-R-11152

Aurora Tower AED 210,000 2 1,497 ft.2 AP-R-10762

Princess Tower AED 95,000 1 960 ft.2 AP-R-10640

Beauport Tower AED 120,000 1 958 ft.2 AP-R-11076

BuSinESS BAY Location Rent P/A BR BUA Ref. no.

Damac, Maison AED 105,000 1 914.5 ft.2 AP-R-10121

Manazel al safa AED 200,000 3 2,647 ft.2 AP-R-10156

DiFc Location Rent P/A BR BUA Ref. no.

Limestone AED 255,000 3 2,626 ft.2 AP-R-10548

JuMEiRAh LAkE TOwERS Location Rent P/A BR BUA Ref. no.

Lake View AED 95,000 1 940 ft.2 AP-R-10516

PALM JuMEiRAh


Al Hatimi AED 185,000 2 1,582 ft.2 AP-R-10067

Marina Res. 4 AED 165,000 2 1,700 ft.2 AP-R-10264

Fairmont South AED 145,000 1 1,357 ft.2 AP-R-10642

Tiara Emerald AED 170,000 1 1,300 ft.2 AP-R-10507

Palma Res. AED 500,000 5 4,000 ft.2 AP-R-9074

Fairmont South AED 225,000 2 1,820 ft.2 AP-R-10271

PROPERTIES FOR LEASEVisit www.astonpearlre.com for complete selection of apartments, villas & commercial properties for rent.

AP-S-14415

AP-S-15230

Office 1401, API Trio Office Tower, NOVOTEL Building,Al Barsha , Sheikh Zayed Road, Dubai, United Arab Emirates, P.O. Box: 450079

Tel: +971 (0)4 392 8831 • Fax: +971 (0)4 392 8832 • Mob: +971 (0)50 103 6931Email: [email protected] • Website: www.astonpearlre.com

May issue 2016

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