Thursday, May 9, 2013

Oaks Liwa Executive Suites

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Ideally housed in an iconic building in Lujiazui financial district, IFC Residence is less than 550 yards from Jin Mao Tower, Shanghai World Financial Centre and Oriental Pearl TV Tower. It offers an indoor pool and lavish apartments with double-glazed windows overlooking either the park or the famous Bund. Free wired internet access and Wi-Fi are available.

Monday, February 9, 2009

As Dubai Property Boom Slows Down, Investors Look Northwards by Andrew Hillis

The current state of Dubai, following the recent introduction of an escrow law, where developers in Dubai are now not allowed to make use of use purchasers' deposits on other projects, coupled with the ever increasing costs of raw materials for construction, has now resulted in many developers deciding to launch their new off-plan projects in northern and regional emirates instead, this move is also believed to be able to ensure far better returns for all.

The past six months has seen the costs of raw material (imported from China) sky rocket. The price of cement alone has increased by an astronomical 40% more than what it cost this time last year. There has also been some impact made by the removal of certain tax incentives for Chinese businesses.

All aspects considered, including the current credit crisis, which is beginning to make itself known across the emirate, is an indication of a change in momentum for Dubai.

Although it is far too dramatic to say that Dubai is on the brink of certain meltdown, it is most defiantly a deciding factor now that the global monetary crunch is starting to take its toll in Dubai.

According to a property analyst, "Project finance has become more expensive and harder to raise courtesy of the global credit crunch and almost every local developer will be looking to gear their local project to achieve a higher rate of return on equity employed. If finance costs more, then the viability of a proposed project may shift significantly,"

As international investors are already picking up on the current shift in momentum in Dubai, there are reports of an increasing number of new projects and developments, as well as rumours flying around about the fact that the government's investment has been given to the northern emirates of Ajman, Umm Al Quwain, Ras Al Khaimah and the regional city of Al Ain, has left the international investors community riveted by the fact that investment is still possible and probable.

Judging by the move made recently by The U.A.E's government, to invest rather heavily in the emirate of Ajman (the smallest U.A.E state), whilst announcing the construction of a new airport for the region, is more evidence that Dubai's time as the property sector of choice in the emirates is coming to a slow close.

The recent news that a mixed-use airport, due for completion in 2011, led to many a developer snapping up whatever land they could get their hands on, in an attempt to capitalize on the newly available and soon to be readily accessible northern regions of the U.A.E

According to real estate news of late, the fourth largest city in the emirates, Al Ain, is currently experiencing its very own pseudo-property boom. The reason being: many investors are now spreading out on the search for higher profit returns.

According to a reputable and well respected property service firm, Asteco, "rental prices of villas in the city have increased by 30% to 40% as it receives an influx of ex-pat and foreign buyers."

It is of the opinion of many property experts that "Several new companies have recently opened offices in Al Ain, particularly those with interests in consultation and construction,"

"The need to house new employees has inevitably increased the demand for property. In addition, expatriates working in Abu Dhabi and Dubai are taking advantage of the more affordable accommodation in Al Ain, despite the longer commute. The cost of renting in Al Ain may be rising, but it is still much cheaper than in Dubai and Abu Dhabi,"

All in all one can genuinely see that although Dubai is still a wonderfully lucrative area and destination of choice for investors, there is also a tangible change in momentum, largely due to the fact that Dubai is also now experiencing the ripple effect that the current global credit crunch has on all economies and currencies the world over.

About the Author

Property Select offers a comprehensive selection of overseas Property in Dubai and the Unite Arab Emirates (UAE), including a news feed, members club and reviews of the latest property developments from around the world.


Dubai Property Ownership- Safeguarding your Dubai property investment by the formation of a corporation or family trust. by Lesley-Anne Johnston

Dubai Property Ownership- Safeguarding your Dubai property investment by the formation of a corporation or family trust


In recent years it has become common practice for foreign owners to hold Dubai property in offshore structures. Certain people, whether resident or non-resident in Dubai can benefit from owning Dubai property through a company. This article outlines how one can purchase a Dubai property (in areas where foreigners may do so) through a corporate structure.

Benefits of purchasing Dubai property via a company or trust

• Avoidance of potential inheritance complications. By using an offshore company and/or an offshore trust the UAE rules of succession relating to real estate can be avoided. The use of an offshore company is certainly recommended and the addition of a trust can be valuable in certain circumstances, although this can be a complex area given that there may be tax consequences depending on an individual's domicile and residence. It may be wise to seek professional advice. • A company is a legal entity in its own right, so it never dies. Upon death, the shares in the company will only be dealt with under UAE law if the deceased's domicile is in the UAE • Tax efficiency • Framework for joint investments. Several investors can merge within an offshore structure and hold shares which reflect their property ownership ratios • Confidentiality. Purchasing a property via a British Virgin Islands (BVI) company, for example, provides an ideal vehicle for buyers who do not wish for their identity to be revealed. Details of shareholders and directors are not a matter of public record in BVI. • Asset protection. Many clients also use the company structure to protect investments such as equities, yachts and private aircraft. • Limited liability • Minimisation of transfer fees. On the sale of a property owned by a company it is the sale of company's shares which effects the sale rather than the sale of the property itself. Depending on the contractual agreement with the developer this could potentially avoid liability for transfer fees. • Mortgage facilities. Mortgages are available from selected banks in Dubai. They are primarily available to UAE offshore companies such as Jebel Ali and Ras-al-Khaimah, but not to BVI companies.


Before purchasing the property the first owner obtains a new offshore company and in most cases installs himself as the shareholder and director. The company then purchases the property.

The cost attached to the purchase and maintenance of the company is relatively low.

When the property is sold, it is not in fact the company which is sold, but the shares in the company are transferred to the new owner. Property developers in Dubai are generally familiar with the use of BVI companies. The documentation and administration required to transfer the ownership of a new BVI company can be achieved in one working day.

About the Author

Lesley-Anne Johnston is the Marketing Assistant at The ILS Group Limited, a fiduciary services provider with offices in ten countries worldwide.