As a result, investor interest in Dubai’s residential property sector continues to increase. This has been most apparent in areas where tenants seek out lifestyle developments aligned with their aspirations. This has created high demand and rising occupancy rates for some of Dubai’s most desired residential districts, particularly Emirates Living, Downtown, Dubai Marina and Palm Jumeirah.

Strong performance in Dubai’s property market has been reflected in real estate and related stocks which helped lift Dubai’s index 2.2 percent to its highest close since September of last year.

As explained by one of the Middle East’s largest private developers, the rental return on real estate investments in the UAE are at least three times higher than having cash in the bank. The rate of interest on a six month fixed term deposit at HSBC is 2.1% compared to rental yields in the UAE of between 7 – 12%.

Dubai’s rapidly recovering real estate sector has significantly aided the UAE’s wider economy which continues its impressive economic growth with another year of strong performance. The UAE recorded economic growth of 4% in 2011, following growth of 1.4% in 2010 and 1.6% growth in 2009. In 2012 the UAE is again to reach a 4% growth with Dubai likely to show similar performances, according to a report prepared by the CBRE Dubai Research Team.

This positive mood and improved confidence was reflected in the Consumer Confidence Index (CCI) from the Department of Economic Development (DED) which rose 15 points to 125 during the final quarter last year. Respondents were most optimistic about the economic recovery, personal finances and job creation.

Dubai property prices up 5% on last year Selectproperty.com Office 803 - Concord Tower, Tecom, Dubai Media City United Arab Emirates Dubai Office: +971 4 446 2756 UAE fax: 971 4 440 4849 UK Office: +44(0) 161 488 3555

Industry experts have been extremely positive about Dubai’s first ever bulk auction of foreclosed property which successfully highlighted the renewed confidence in this sector. There have been previous attempts by banks in conjunction with the Dubai Lands Department to sell off foreclosed properties on a much smaller scale with little success.

Richard Paul, head of valuations at Cluttons explained, “Initially reserve prices were just too high and now they are far more realistic and as a result they are attracting buyers,”

As well as previous unsuccessful attempts creating stumbling blocks for widespread sell offs, some officials were concerned over the process of auctioning off foreclosed properties through the fear of flooding the market with low-priced-homes, at a time when prices were already 50% lower than peak values in some places.

Yet the evidence from this auction has been the contrary, with all the properties sold achieving much higher than the reserve price in what was described as ‘brisk bidding’. The properties sold included villas in the Al Thnnyah and Al Safa districts as well as apartments in Dubai Marina.

Not only were a number of properties sold, but confidence has been boosted through-out the market, reflecting in today’s property stock prices. Despite the instant market reaction, the most influential restoration of confidence has been amongst the Banks who now know, if buyers default, they will be able to retrieve capital through this process.

“As the [foreclosure] system becomes more streamlined it will give lenders greater comfort to be more aggressive in lending,” said Jean-Luc Desbois, managing director of Home Matters Mortgage Consultants.

As a result experts widely expect higher levels of lending in 2012, prompting increased levels of property transactions and improving the market considerably.

Source: Emirates 24/7, The National

Dubai property auction improves market confidence Selectproperty.com Office 803 - Concord Tower, Tecom, Dubai Media City United Arab Emirates Dubai Office: +971 4 446 2756 UAE fax: 971 4 440 4849 UK Office: +44(0) 161 488 3555

Responding to the IMF report which highlighted the GCC’s positive economic outlook, one industry professional explained how the news will affect real estate.

“Right now, the Gulf region is outperforming most major developed economies around the world. Investors are positive about the future, and that sentiment is resonating in the property market. Real estate is a popular asset class for investors in this region, and a rebound in investor sentiment tends to manifest in the property sector,”

The UAE’s property market or more specifically, Dubai’s property market has been famous over the past six years experiencing significant growth followed by a severe price correction. The outlook for Dubai in particular now looks much more positive with more affordable property already creating considerable demand.

Dubai’s real estate now also benefits from higher levels of regulation and a much more mature market place which has enhanced security and provides scope for strong growth in certain areas such as Dubai Marina and the Palm Jumeriah.

60% of the UAE’s property sold to foreign nationals is bought by Kuwait investors according to that latest data from the Ministry of Finance.

“Dubai’s real estate market is now more stable and sustainable. Gulf investors are flooding back into Dubai and the broader U.A.E.’s property sectors on signs that the market’s bottomed out and is already well advanced with the recovery phase” the same industry expert commented.

With Dubai’s recovery well underway many localised investors in the Middle East have recognised its potential and it is thought western investors will be following suit very soon.

Source: International Business Times

UAE investor confidence surges after IMF growth forecast Selectproperty.com Office 803 - Concord Tower, Tecom, Dubai Media City United Arab Emirates Dubai Office: +971 4 446 2756 UAE fax: 971 4 440 4849 UK Office: +44(0) 161 488 3555

Prominent developer Sheik Maktoum bin Hasher Al Maktoum said to Arabian Business,

“What we have is a situation where realtors are pushing prices down using the myth of excess supply because they are trying to push through higher volume transactions, because that’s their main interest,”

“So we hear a lot about the massive amounts of new inventory coming online, which is keeping prices low. But this has led to a misleading situation, as not all of the property coming to the market is actually for sale.”

Supply has been considerably reduced with the cancellation of over 217 projects this year by Dubai’s government. The effect of these cancellations have not been fully realised by many agencies providing misleading data while others have failed to note that no new projects have been approved for over two years. This means new real estate stock in developments that haven’t started yet will be years away from entering the market.

Khalid Al Malik, the CEO of Dubai Properties Group, the developer behind Dubailand and Jumeirah Beach Residence shared Al Maktoums sentiment and also told Arabian Business that no agency had the correct figures and therefore it was difficult to know if there was an overhang of property supply.
Source: Construction Week

Dubai real estate – no property oversupply according to experts Selectproperty.com Office 803 - Concord Tower, Tecom, Dubai Media City United Arab Emirates Dubai Office: +971 4 446 2756 UAE fax: 971 4 440 4849 UK Office: +44(0) 161 488 3555

Head of research at Jones Lang LaSalle, Craig Plumb said “We’ve talked about selective stability in the past, and now we can be more positive and talk about selective recovery,” adding “Certainly, toward the end of the year the recovery in the top end should continue,”

Some of the area’s that have benefitted from the ‘flight to quality’ the most are Dubai Marina and the Palm Jumeriah where luxury villas saw price increases of 3% so far in the second quarter of 2011.

Industry experts have commented on a growing tendency in buyers to opt for the higher profile residential areas that offer good value for money as opposed to what is described as ‘secondary stock’ where prices continue to fall.

Furthermore Jones Lang LaSalle added that Dubai’s future stock will predominantly be in “less established areas” such as Business Bay and Dubai Silicon Oasis Craig Plumb explained.

This suggests gap between exclusive and less desirable areas will widen over the next year contributing to a much more segmented market place similar to those found in London or New York.

Source: The National

Dubai property on the road to recovery Selectproperty.com Office 803 - Concord Tower, Tecom, Dubai Media City United Arab Emirates Dubai Office: +971 4 446 2756 UAE fax: 971 4 440 4849 UK Office: +44(0) 161 488 3555

Dubai’s housing market is expected to receive a considerable boost following new rules regarding residency visas. The Government have announced that property buyers will now be able to gain a 3 year residency visa opposed to the current 6 month visa. The move has been welcomed through-out the industry with experts and analysis’s saying the new law could be the spark to reignite Dubai’s property sector.

The issue of residency in Dubai has been a point of concern for property buyers over the last few years, and the unavailability of long-term visas has been a major restriction to the emirate’s property market. The six month visa often failed to cater for business professionals moving to Dubai on a 2 to 3 year posting and carried further restrictions for bring their family members to live with them. Now property owners will be able to live with their families in Dubai for a much longer time period thanks to the new rules.

In terms of the property value needed to qualify for the visa, the rules are unchanged. Buyers will be able to apply for the 3 year residency visa only if the property they have purchased is worth over 1 million AED.

The extension of the residency visa is expected to significantly aid Dubai’s property sector. The emirate will become infinitely more appealing to those wishing to move there with thousands expected to buy property to gain residency and investors using the opportunity to re-enter the market. Current owners will also benefit from considerable price increases due to the influx of demand about to enter the market.

Source: The National

Update: 3 year residency visa available to Dubai property buyers Selectproperty.com Office 803 - Concord Tower, Tecom, Dubai Media City United Arab Emirates Dubai Office: +971 4 446 2756 UAE fax: 971 4 440 4849 UK Office: +44(0) 161 488 3555

Take Dubai as a case in point; a market we are very close to as you would expect. I recently commented in an article that we have witnessed a renewed interest following a significant improvement of market conditions in the emirate.
There is a substantial appetite for property in Dubai at the moment and more and more business is being done on a weekly basis. Our own experience certainly seems to support the recent announcement by the Real Estate Regulatory Agency (RERA) that property transactions in the emirate have jumped by 20% in just 3 months since the last quarter of 2010.

Dubai’s economic prospects have definitely improved recently (due in part, many suggest, to instability in other states as a result of the Arab Spring) and visitor numbers are apparently returning to pre-recession levels. All of which indicates that the direction of travel is positive, even if there’s disagreement over the indicators that point towards a full-blown recovery.

Deutsche Bank casts a dark cloud over the brighter sentiment, reporting that property prices fell 1.2% in May and rents also dropped a further 1% (thankfully not the kind of figures that lend themselves to the usual adjectives when describing Dubai, such as ‘plunge’ and ‘crash’, but a drop nonetheless). And property consultancy giant Jones Lang LaSalle has also estimated that there are over fifty thousand dwellings still to come onto the market in the whole of Dubai between 2011 and 2015 – about 15 to 20% of the existing supply which could lead to fears that prices are not going to firm up any time soon.

So how do we navigate between the positive and the downbeat opinions in deciding where to put our money, or whether to sell or hold?

Apparently it only takes a tangible increase of 2-3% in values for confidence to return to the market, but in a region with so much construction going on in the last five years you’d be forgiven for thinking that this will remain a buyer’s market for some time yet. At the same time, peak demand in 2007-08 pushed prices so high that Dubai has been labelled ‘the worst performing market in the Middle East for the past three years’, presumably on account of the height from which prices have had to fall to ensure some properties are still changing hands. But these headline figures don’t tell the real story when it comes to long-term prospects for recovery and growth – you need to dig a bit deeper.

The Jones Lang LaSalle survey went on to identify more established areas such as the Palm Jumeriah and Dubai Marina as the best performing regions within Dubai, where buyers with appetite for the residential sector now outnumber sellers. This is welcome news for current owners of course, and will also captivate the interest of investors who have been waiting on the sidelines for the right time to get back into the market.

According to a separate independent report Dubai’s property supply has peaked, and in March RERA announced that over 220 construction projects would be cancelled in the emirate, with that number expected to rise in 2011 from projects that haven’t yet started. Consequently industry professionals now predict that there could be a 90% reduction in the amount of property previously expected to be on the market by 2020. That’s a whopping re-assessment and just goes to show how easy it is to be misguided by some of the market data we’ve seen in the last twelve months.

So it’s realistic to foresee a period of price stability in the highest-demand residential communities as the oversupply of residential stock diminishes.
I’ve been banging the drum for a while now about the importance of breaking markets down into much smaller segments to really understand what patterns are forming. Expert analysis can provide a useful barometer reading of the general conditions, but it probably won’t tell you where the real value is, and we all know that statistics can be highly misleading without knowledgeable interpretation.

The fact remains that certain districts, types of property and developers/operators will always have a threshold demand that makes people seek them out and pay a premium compared to the prevailing market rate at the time.
If you imagine the property market to have the same variety of opportunities as an antique fair or car boot sale – then similarly amongst the many people picking things up and having a general look out of interest, there are enthusiastic buyers who know what they’re looking for and what they are prepared to pay, and who don’t waste any time in picking out the quality pieces before someone else gets in there.

All of which reminds me that there’s no substitute for first hand experience. I get frustrated talking to people who unload their subjective worries about a particular market or development when they haven’t been there themselves in years, if ever.

You’ll never really feel confident unless you’ve seen how full the plane is and how busy the restaurants are with your own eyes. Market reports are far less compelling than your own instinct having seen what kind of people are attracted to the same locations as you, and spoken to them across the loungers or the golf tee.

Think of any trip you’ve taken to a new place and I’m sure you’ll remember how quickly you worked out which end of town was the place to be, which spots were hot, and which streets to stay away from. If you only ever read the high-level market data, you likely to be left feeling perturbed will probably miss out on the real opportunities that are often hidden by the analysis.

Market reports disguise opportunities for investors in the ‘Flight to Quality’ Selectproperty.com Office 803 - Concord Tower, Tecom, Dubai Media City United Arab Emirates Dubai Office: +971 4 446 2756 UAE fax: 971 4 440 4849 UK Office: +44(0) 161 488 3555

“The market is in a stable state. We are seeing around 50 transactions a day in the Land Department and I am talking about fresh transactions” he told Arabian Business. “[It’s] those coming to Dubai to take advantage of the opportunities in real estate.”

This official data has been strongly supported by reports from the ground where industry professionals have recently seen a surge in enquiries and successful sales. Giles Beswick, Director of Select Property one of Europe’s largest sellers of overseas property commented on the current situation.

“Having sold over 3,500 properties in the UAE over the last 7 years, we are very in-tune with the changing market conditions there and we have definitely noticed an upward trend. Dubai enquires have increased by nearly 60% compared with this month last year. We are actually launching a new Dubai Marina product this week to keep up with demand”

Source: Arabian Business

Dubai has 50 property transactions a day! Selectproperty.com Office 803 - Concord Tower, Tecom, Dubai Media City United Arab Emirates Dubai Office: +971 4 446 2756 UAE fax: 971 4 440 4849 UK Office: +44(0) 161 488 3555

Director General of the Lands department Sultan bin Butti bin Mejren said 2011 will be “better in Dubai”, due to improved market transparency and greater investor confidence. This was after a “promising” 2010 where Mr bin Mejren said Dubai had impressively recorded $32.67 billion worth of property sales

The Landmark Advisory also released a report stating that “sentiment overall has improved and there are signs of investors reconsidering the UAE, in particular Dubai, as a place to invest again”,

The news comes in conjunction with the Arab Real Estate Urban Development Conference which has just been held in Dubai. Speakers at the conference were keen to talk about the unrest in MENA however their opinions on how the troubles will affect the wider region were very positive; especially for the UAE where the property market is expected to continue to increase as a result of the political unrest.

Jones Lang LaSalle had once been very pessimistic about the future of Dubai favouring other MENA hotspots such as Egypt and Saudi Arabia and was doubtful of the prospects of the UAE. The chairman of Jones Lang LaSalle’s MENA office, Blair Hagkull said,

“What is happening now is the pendulum is moving in the UAE’s favour,” “People are looking for a place where real estate can retain value,” said Mr Hagkull who went on to explain that the UAE market is considered very stable in the region.

The UAE has benefitted in some way from every major political crisis in the past 20 years and it looks as though it will be the main benefactor of this one as well.

Source: The National

Property Investment: ‘the pendulum is moving in the UAE’s favour’ Selectproperty.com Office 803 - Concord Tower, Tecom, Dubai Media City United Arab Emirates Dubai Office: +971 4 446 2756 UAE fax: 971 4 440 4849 UK Office: +44(0) 161 488 3555

But the questions I am asking myself over and over again at the moment are these; what are developers and sales agents offering that’s different? How have they changed in response to the changing needs of the market? What are the attributes that differentiate the credible specialists from the cowboys trying to make a quick buck in a beauty pageant like a holiday home expo?
And I’m often left struggling for answers..

It’s staggers me to still see advertising almost every day offering ‘guaranteed returns’ that outstrip anything else the market has to offer, and marketers aggressively pushing short-term opportunities that look like nothing more than property paradise ponzi schemes.

I thought members of the buying public would have learned by now that ownership of any old property in any old country is not the closest thing to free money they can get, as many clearly had thought over the middle part of the last decade. As one investor told me once, “the property market in a global capitalist economy is just an organised system for transferring wealth from stupid people to smart people”! If the last two years have done nothing else they should at least have inoculated holiday home owners and landlords against the thinking that market diligence and financial planning was for wimps.

From a quick straw poll of some of my friends and associates in the industry, most shared the opinion that interest levels at the ‘APITS’ show were strongest for the territories that have seen the greatest severity of political or economic turmoil in the recent period: Egypt and Thailand have both been the subject of social and political revolution at the hands of their citizens. There’s Spain and Portugal, with their recently down-graded credit ratings having staved off EU bail-outs with bond issues. And the US, where the markets have shown their continuing vulnerability to global events following the crisis in Japan.

Maybe I’m underestimating buyers though, because what this tells me is that people are learning that opportunity is created not simply by the existence of a global property market, but by movements in that market. What attracts people more than anything to a particular destination or type of property investment is any compelling event that causes market movement. That could be a sudden influx of new people or capital, the promise of security or prosperity that previously wasn’t possible, the (re)introduction of credit, a shift in currency value even, or any number of other factors that we read about in the news every day at the moment.

Last week I wrote about Dubai, and it has come as no surprise to me to since then to see a steady flow of positive news from the emirates; a safe harbour in the Middle East with a moderate political outlook, an international business and resident population, and a strong grip on the oil markets with prices predicted to reach $200 a barrel! All good stimulus for property enquiries…

However, I still believe there’s a growing immunity to slick campaigns using seductive advertising. Buyers need more than that. They want to know the credentials of the people they are dealing with. They want to share information and experiences with other like-minded individuals. They want people like us to personalise opportunities to be more relevant to them, and to collaborate better with partners in our space. All these things we can and are doing to change our market going forwards, and I believe this is where the realisation of the benefits that great companies can offer will be most apparent.

I’m always happy to meet with our customers or other interested parties wherever I can get to – please feel free to contact me if you want to pick my brains, or even pick an argument about something that’s happening in our industry.. It’s not a question of simply telling people what might happen, but being part of the discussion that is already happening, about the markets in which we are all participants with a vested interest.

I look forward to hearing more from you.

Some things never change, but this market isn’t one of them Selectproperty.com Office 803 - Concord Tower, Tecom, Dubai Media City United Arab Emirates Dubai Office: +971 4 446 2756 UAE fax: 971 4 440 4849 UK Office: +44(0) 161 488 3555

Data collected in Saudi Arabia, Lebanon and Egypt indicated there is plenty of capital held by investors waiting to buy UAE property in 2011. One industry expert explained “There is still a lot of cash on the sidelines, but there are opportunity costs to keeping liquid cash,”

“Investors will now be weighing up their options about where to invest next year and property is shaping up to be one of the best performing sectors.” He continued

At the same time there has been a notable shift of tenants relocating to Dubai from Emirates such as Sharjah and Abu Dhabi. “People are moving around the emirates, particularly those from Sharjah to Dubai and out of Abu Dhabi to Dubai Marina,” said Jonathan Fothergill at Cluttons Middle East.

Credit Suisse have also forecast strong growth for the UAE, stating that GDP should increase 4.7% this year; faster than the global average. The organisation predicts that this year the real estate market will stabilise allowing for a marked improvement in the emirate’s economic conditions.

The outlook for Dubai Marina looks increasingly bright as the area stands above the rest of Dubai, enjoying higher than average demand. It has been suggested that this growing demand for Dubai Marina property has been encouraged by the lower prices available which has allowed buyers and tenants to upgrade their accommodation to the marina

Stable Demand for Dubai Marina Property 2011 Selectproperty.com Office 803 - Concord Tower, Tecom, Dubai Media City United Arab Emirates Dubai Office: +971 4 446 2756 UAE fax: 971 4 440 4849 UK Office: +44(0) 161 488 3555

“This agreement formalises a strong consensus around a fair and balanced restructuring proposal and is a key step towards putting Dubai World on a sound and stable financial footing, whilst enabling it to realise the full potential of its underlying businesses,” Sheikh Ahmed bin Saeed Al Maktoum, the chairman of the Dubai Supreme Fiscal Committee, said in a statement.

The view is shared by some of the world’s leading economists who say the agreement brings confidence and stability to an area which has suffered as a result of the world’s financial crisis.

John Sfakianakis, the chief economist at Banque Saudi Fransi said, “I think it gives positive momentum to Dubai’s confidence and the way the world views Dubai, and it should also add to confidence about its ability to reach settlements and will contribute to the economy.”

He continued by saying, “The lesson learned from all of this is that Dubai has the elements and the fundamentals to be a very diversified economy,” he said.

“What they will be doing is a return to fundamentals – a return to Dubai being the hub for the region, a hub for re-exports, the industrial zone of the wider region, the tourism destination for the region and the logistics centre for the region. All of these things Dubai has.”

Dubai World sets out restructuring deal Selectproperty.com Office 803 - Concord Tower, Tecom, Dubai Media City United Arab Emirates Dubai Office: +971 4 446 2756 UAE fax: 971 4 440 4849 UK Office: +44(0) 161 488 3555

Venue: Earls Court, London
Date: Friday 26th March – Sunday 28th March
Time: 10 am – 5pm. Friday to Sunday
Stand Number: E12

Call us today on 0870 111 0000 to book an appointment.

Visit Select Property at A Place in the Sun Live 2010 Selectproperty.com Office 803 - Concord Tower, Tecom, Dubai Media City United Arab Emirates Dubai Office: +971 4 446 2756 UAE fax: 971 4 440 4849 UK Office: +44(0) 161 488 3555

Speaking to reporters, Jim Quigley said:

“If in fact the infrastructure is in place here, and I think it is uniquely in place here, if you look not only at your immediate region but all of your neighbours… then I think you have to be bullish on Dubai with a long view.”

Deloitte also predict a return of liquidity to the world’s markets and are confident of a global recovery in 2010, with Quigley revealing:

“My researchers tell me that recovery in 2010 is ‘all but certain’. I haven’t heard that kind of certainty before.”

Reporting on the sentiments of officials and companies throughout the Gulf, Robert Kimmit, chairman of Deloitte’s Cross Border Investment Centre said:

“Most are cautious about 2010 but expecting the recovery to gain some momentum in the second half and that 2011 and 2012 will be more towards historical levels of growth.”

Deloitte itself is seeking to double its current headcount of 2000 in the Middle East, a feat which Quigley sees as realistic:

“Having an ambition to see that number beyond 4000 is not a huge stretch” he commented.

Source: Arabian Business

Deloitte show confidence in Dubai and predict global recovery in 2010 Selectproperty.com Office 803 - Concord Tower, Tecom, Dubai Media City United Arab Emirates Dubai Office: +971 4 446 2756 UAE fax: 971 4 440 4849 UK Office: +44(0) 161 488 3555

Select Property realises that people have been left apprehensive by the news and we feel it only necessary to share our thoughts and reflect on any impact this will have on your investment.

The news has gained global attention over the last few weeks sparking rumours about Dubai’s stability and the affects on the international banking sector. Daily articles in the UK as well as internationally have over reacted to the news and as such ripple effects were felt throughout the world’s stock markets. The situation has since eased as Dubai’s government announced today, December 14th, that it has been given a $10bn (£6.13bn) handout from its UAE neighbour, Abu Dhabi to help it pay off its debts. News of the payment boosted share markets in the UAE and Dubai’s main share index closed 10% higher, while Abu Dhabi’s rose more than 7%.

It is important to put this news in perspective as the level of debt itself in comparison to the likes of the UK and US national debt is comparatively low – the total Dubai World debts is considered to be approximately only 10th of the UK national debt – and the efforts made by Dubai World to restructure approximately $26 billion of debt demonstrates that the problem can be contained quickly, reassuring and re-building investor confidence. It is also important to understand that Dubai World holds stakes in a diverse range of assets in over 100 international cities, and many of its prime assets within its own shores are owned debt free.

From its initial conception Dubai has been built on strong underlying economic fundamentals which have been an important factor in its success. The fact remains that Dubai has by far the best infrastructure of any city in the region, its zero% corporate and income tax have led to several multi-national organisations setting up base and attracting professionals and tourists from all over the world to enjoy the opportunities and lifestyle offered there. For these reasons, whilst the news is a set-back and has inevitably dented confidence in Dubai, the UAE is now taking the necessary steps to rebuild its standing and any short-term confidence attrition will not detract from the future stability of the Emirate.

A large part of the global reaction can be put down to the announcement being unexpected and coming just before a national holiday in the UAE, depriving the financial markets of further information whilst it came to terms with the news. With confidence in the banking sector still clearly fragile after a number of high profile bail-outs, the concern pointed less to Dubai’s level of debt than to the unknown exposure of international banks generally to overseas investments.

What does this news mean for your investment?

Select Property’s developments are predominantly located in Dubai Marina. Emaar Properties PJSC is the master developer behind the marina, a Dubai-based public joint stock company, which shares Dubai’s vision for growth and stability. The recent announcement related only to the financial situation of government-owned investment vehicle Dubai World and their financial standing, a completely separate entity to Emaar which bears no association to your investment. Emaar remains on a stable financial footing and Select Group is 100% committed to delivering all their projects on Dubai Marina – arguably the best established most sought after residential community within the whole of Dubai currently.

Ras Al Khaimah is the most northern of the emirates, forming part of the seven United Arab Emirates. As a separate Emirate, Ras Al Khaimah (RAK) is run by its own ruling family with no parliamentary system and therefore is in no way affected by the recent Dubai reports. The emirate has a strong platform on which it has built its economy, becoming a major producer of ceramics, cement, and pharmaceuticals with an aggressive development program which focuses predominantly on tourism and real-estate. Although investing heavily in infrastructure and real-estate development projects, its strategy for growth has been more conservative than its neighbours in Dubai.

Rakeen, master developer of Ras Al Khaimah’s man-made Al Marjan Island, has announced major infrastructure work is to commence this month on phase two of the $1 billion project and Select’s Pacific development located on Al Marjan Island is now well underway, in line with its June 2011 construction schedule. Piling is 100% complete and construction progress continues to develop as the 1st of its 6 residences is now above ground.

What about Select Property’s financial situation?

It is important that you are confident that your funds are protected and Select Property and its development partner Select Group have prudently managed their finances from the very first project together. We do not have the financial commitment of other companies and have a model based on minimal risk. Each development has a separate trust account, ensuring that every payment our customers send through goes towards what it should do; building their property. Select Group has delivered 3 out of 5 projects under construction on Dubai Marina, and all the others are progressing in accordance with the latest timetables for delivery.

As a business we remain 100% committed to the property market in Dubai and Ras Al Khaimah and wholeheartedly believe that purchasers have made a strong investment. By selling and developing in highly desirable locations, such as Dubai Marina and Al Marjan Island, Ras Al Khaimah, and delivering high quality products, we believe we are providing customers with prime investments over a medium to long term.

The first of Select’s developments, The Point completed in July of this year and has already experienced a high demand for rentals, with over 60% occupancy from those investors looking to rent and owners earning a rental yield of between 8% and 11% in year one. A further 2 projects, The Torch and Bay Central follow closely completing in July 2010 and December 2010 respectively.

Select Property Statement: Dubai Debt Financial Crisis Selectproperty.com Office 803 - Concord Tower, Tecom, Dubai Media City United Arab Emirates Dubai Office: +971 4 446 2756 UAE fax: 971 4 440 4849 UK Office: +44(0) 161 488 3555

Mohamed Ali Al Abbar, Chairman of Emaar, explained the launch date as a mark of appreciation for Sheikh Mohamed:

‘We decided to inaugurate the world’s highest tower in an official anniversary dear to the hearts of everyone, this is a modest thankful response by the administration of the company and its shareholders to His Highness Sheikh Mohammed bin Rashid Al Maktoum, the builder of modern Dubai and sponsor of the renaissance, and the first supporter of the company and all its projects since its inception.’

Comprising over 160 floors, Burj Dubai is the world’s tallest building at about 2,600ft. As well as residential and commercial units, the mega-structure will house the first ever Armani hotel in Dubai. Its opening in January 2010 is set to attract interest from around the world and once again place Dubai centre-stage before a global audience.

Source: Zawya and AME Info

Emaar announce official opening of Burj Dubai Selectproperty.com Office 803 - Concord Tower, Tecom, Dubai Media City United Arab Emirates Dubai Office: +971 4 446 2756 UAE fax: 971 4 440 4849 UK Office: +44(0) 161 488 3555

The proof of our success is real and tangible

Select Property’s success is driven by an innovative and unique approach to the overseas property market. The company’s development strategy is simple, land is only purchased and developments launched once key milestones are met in sales across other developments. This ensures we do not over commit or put our customers or ourselves at risk.

Selecting the right projects is fundamental to deliver the desired rewards to our customers and has been key to our success. This is centred on a set of 5 key principles. By securing developments based on these principles we are able to sustain the marketability and desirability of our purchaser’s properties.

Our unrivalled approach means the company is able to achieve a high percentage of its sales through repeat and referral business.

A Complete Service

From initial consultation, through to the sales, contractual and payment processes, and then onto handover, Select Property customers are supported throughout. Understanding the importance of peace of mind to its customers, Select Property was the first company to introduce escrow accounts for its award-winning Pacific project in Ras Al Khaimah. Protecting the purchaser’s funds throughout the construction phase, escrow offers added security and has been a huge success. More recently Select Property are operating as the exclusive sales agent for Bancaja Habitat, the real estate division of Bancaja, the largest financial group in Spain offering up to 80% mortgages with an immediate 3 year payment holiday on Terrazas de La Torre, making this new golf resort easily accessible to a wider market.

Product innovation

Select Property is an innovative leader in the overseas property sector, providing customers with unique products and services designed to meet its customer’s requirements.

Procuring a mortgage in the overseas property market, particularly emerging ones, can often be difficult. To provide greater flexibility to its customers, Select Property has worked with leading partners and developers to develop flexible payment plans, allowing for ease of purchase.

In 2008, Select Property launched its financial services arm, Select Money. Select Money provides financial products tailor made for the overseas property market. Its one stop financial solution offers a currency exchange service providing preferential rates over high street banks and the option to forward book currency for up to two years, fixing the exchange rate for property payments and helping protect from adverse currency movements.

The most recent addition is Select Furniture, helping customers to command higher rentals with a complete turn key furniture solution. Available exclusively to Select Property customers, Select Furniture presents a range of stylish furniture packs, with optional upgrades available, alleviating the hassle of managing deliveries and chasing available items. A choice of styles have been strictly selected to provide the highest quality, yet carefully priced to deliver value and comfort.

About us Selectproperty.com Office 803 - Concord Tower, Tecom, Dubai Media City United Arab Emirates Dubai Office: +971 4 446 2756 UAE fax: 971 4 440 4849 UK Office: +44(0) 161 488 3555

Dubai Landmarks

Home to the famous Burj Al Arab, Atlantis Dubai on The Palm, The World and Dubai Marina, Dubai Mall, Dubai has plenty to boast about.

Dominating the Dubai skyline with its symbolic sail-shaped design, the iconic Burj Al Arab is one of the most photographed structures in the world. At a soaring 321m, the 7 star Burj Al Arab is the world’s tallest hotel, and arguably the most luxurious. Set on its own artificial island to appear as though afloat, its dazzling white façade is transformed at night by spectacular technicolour light displays.

Atlantis resort on Palm Jumeirah has fast become one of Dubai’s top family attractions with its huge water park Aquaventure and The Lost Chambers, a vast underground aquarium housing 65,000 marine animals. More than just a theme park, Atlantis also boasts high-end boutiques, a mile of pristine beach, 17 bars, restaurants, lounges, a nightclub and a spa.

The World is a man-made archipelago of 300 private islands constructed in the shape of the world map, located 4 km off the Dubai coast. Conceived by Sheikh Mohammed, The World is set to become Dubai’s premier island destination, rewarding its residents with the privacy of an island retreat, yet the glamour and excitement of Dubai only a 15 minute boat ride away.

Dubai Marina is one of the world’s largest master-planned waterfront developments and was designed to create a city within a city. Home to some of the most exclusive hotels, restaurants and bars, Dubai Marina is undeniably one of the most desirable locations for residential property.

Dubai Shopping

Dubai is famous for its tax free shopping and boasts several shopping malls including the world’s largest, Dubai Mall. Home to just about every major fashion brand in the world, Dubai Mall also houses a 22-screen cinema, the Sega Republic indoor theme park, a massive aquarium with the world’s largest viewing panel, an Olympic-size ice rink and a waterfall.

For Dubai shopping traditional style, head to the Dubai souks; Arabic markets crammed into the alleyways on both banks of the creek. Haggle for jewellery at the gold souk where prices are some of the lowest in the world, savour the scents of the spice souk and browse the colourful silks and cottons in the textile shops of the Meena Bazaar.

Dubai Museum

The Dubai Museum is situated in the beautifully renovated Al Fahidi Fort, one of Dubai’s oldest buildings and offers the perfect setting to follow Dubai’s journey from poor pearling village to modern metropolis and to explore the authentic sights and sounds of the history of the Emirates.

Dubai Desert Safari

Experience the majesty of the Dubai desert on a breathtaking tantalising desert safari. Several operators offer high-speed adventures in 4×4’s rollercoasting across the dunes. Then, take a camel ride before heading back to the traditional Bedouin camp for belly dancing, drinks and an Arabian barbeque under the stars.

Wild Wadi

Located in prime position on the doorstep of the Burj Al Arab, Wild Wadi is one of the world’s best water parks featuring an impressive array of rides for all ages and bravery levels. Thrill-seekers should try the Jumeriah Sceirah which hurtles you down a 100ft drop at a breathtaking 50mph.

Coming soon

Dubai’s latest visionary creation has attracted the world’s most esteemed designers, developers and builders and has the longest travel distance from ground to sky level; it is of course The Burj Dubai, the world’s tallest building at about 2,600ft. There’s more, this mega structure will also house the first ever Armani hotel in Dubai and is set to attract a global audience when it to opens in January next year.

Things to do in Dubai Selectproperty.com Office 803 - Concord Tower, Tecom, Dubai Media City United Arab Emirates Dubai Office: +971 4 446 2756 UAE fax: 971 4 440 4849 UK Office: +44(0) 161 488 3555

Eid celebrations at Global Village in Dubai Selectproperty.com Office 803 - Concord Tower, Tecom, Dubai Media City United Arab Emirates Dubai Office: +971 4 446 2756 UAE fax: 971 4 440 4849 UK Office: +44(0) 161 488 3555

Dubai has big plans for tourism. In 2012, the Falconcity of Wonders in Dubai, the self-proclaimed ‘most ambitious tourist destination ever created’, part of the even bigger Dubailand development, will be finished. This vast project will, it is claimed, ‘bring together all the wonders of the ancient and modern world into one spectacular city of entertainment, on a scale never seen before’. Falconcity sums up Dubai, it is all about the tallest, the most luxurious, and the most unlikely and nowhere else in the world is there enough money to turn such visions into reality. Falconcity will be a cross between Las Vegas and Orlando; an entirely artificial world.All of the attractions, including the Dubai Eiffel Tower, the Dubai Grand Pyramids, the Dubai Tower of Pisa and the Dubai Taj Mahal, will be contained within a plot of land shaped like a falcon ‘ the symbol of the United Arab Emirates. In the legs of the falcon will sit the cities, including Beirut, London, Rome, Venice and Old Dubai. In the centre of the falcon’s body will be Paris and New York; in the head will be the inevitable shopping mall. According to the Dubai Department of Tourism and Commerce Marketing, the number of tourists visiting Dubai has increased from 2.1 million in 1997 to seven million last year; by 2015, it hopes, 15 million people will arrive each year. Falconcity will hope to be part of the attraction.Dubai Investment Property Dubai Property News  

The rise of the falcon in Dubai Selectproperty.com Office 803 - Concord Tower, Tecom, Dubai Media City United Arab Emirates Dubai Office: +971 4 446 2756 UAE fax: 971 4 440 4849 UK Office: +44(0) 161 488 3555

As the Islamic holiday Eid al-Adha approaches, Turkish charity associations are preparing for a new surge of charity efforts around the world, spreading aid and boosting Turkey’s reputation. Volunteers emphasize that it’s not just aid that is distributed through these campaigns, but that new ties of friendship are also being established. The tradition of charity and volunteer missions is an Ottoman legacy that modern-day Turks are following and Turkey is incredibly active in the field of volunteer work. With Eid al-Adha comes the Islamic practice of slaughtering cows and goats and then distributing their meat in charity during the holiday. As Turks continue this tradition in other countries, ties of friendship are cemented and provide a positive introduction to Turkish culture. Humanitarian Aid Foundation executive board member Osman Atalay said, "Ten years ago, we just travelled abroad to sacrifice animals. Now, we’re able to sign off on much more extensive projects. Next year, with the assistance of charitable donors, we’ll have completed the construction of two schools, three mosques, one well and one hospital in poor countries." Turkish charity groups make important contributions to Turkey’s international integration as the charitable activities often either lead to the start of international dialogue or solidify existing relations. Turkey Investment Property Turkey Property News

Charity groups boost Turkey’s image Selectproperty.com Office 803 - Concord Tower, Tecom, Dubai Media City United Arab Emirates Dubai Office: +971 4 446 2756 UAE fax: 971 4 440 4849 UK Office: +44(0) 161 488 3555

New stores at The Dubai Mall Selectproperty.com Office 803 - Concord Tower, Tecom, Dubai Media City United Arab Emirates Dubai Office: +971 4 446 2756 UAE fax: 971 4 440 4849 UK Office: +44(0) 161 488 3555

Incentive for investors at Dubai Bank Selectproperty.com Office 803 - Concord Tower, Tecom, Dubai Media City United Arab Emirates Dubai Office: +971 4 446 2756 UAE fax: 971 4 440 4849 UK Office: +44(0) 161 488 3555

Dubai: A future hotspot for Golf Tourism Selectproperty.com Office 803 - Concord Tower, Tecom, Dubai Media City United Arab Emirates Dubai Office: +971 4 446 2756 UAE fax: 971 4 440 4849 UK Office: +44(0) 161 488 3555

Emirates terminal three commences second phase at Dubai Airport Selectproperty.com Office 803 - Concord Tower, Tecom, Dubai Media City United Arab Emirates Dubai Office: +971 4 446 2756 UAE fax: 971 4 440 4849 UK Office: +44(0) 161 488 3555

Dubai bucks the trend Selectproperty.com Office 803 - Concord Tower, Tecom, Dubai Media City United Arab Emirates Dubai Office: +971 4 446 2756 UAE fax: 971 4 440 4849 UK Office: +44(0) 161 488 3555

Dubai, a land of opportunity Selectproperty.com Office 803 - Concord Tower, Tecom, Dubai Media City United Arab Emirates Dubai Office: +971 4 446 2756 UAE fax: 971 4 440 4849 UK Office: +44(0) 161 488 3555

British Airways' biggest-ever regional summer schedule comes at a time when several leading regional and global carriers have reduced seasonal schedules to combat the current economic downturn. However, the airlines commercial manager of the Middle East, Paolo De Renzis said the region was vital in its long term strategy growth.

Running from 29th March to the end of October, 2009, British Airways' Middle East summer schedule sees a pair of Boeing 777s and a single Boeing 747 operate three daily flights from Dubai to London Heathrow.

"The Middle East continues to show robust growth and remains an important market for the airline," said De Renzis, in his first major announcement since taking the regional hot seat in February.

"It's no secret the aviation industry is in the worst trading environment it has ever faced and several carriers have folded already this year, following the 30-plus airlines that went bust in 2008.

"However, while not immune from the tightening market conditions brought about by falling passenger numbers, we believe we are well positioned to navigate any turbulence."

BA unveiled ’09 schedule, with 35% increase to Middle East routes Selectproperty.com Office 803 - Concord Tower, Tecom, Dubai Media City United Arab Emirates Dubai Office: +971 4 446 2756 UAE fax: 971 4 440 4849 UK Office: +44(0) 161 488 3555

An industrial expert highlighted that UK investors who bought Dubai property two years ago have benefited from the strengthening dirham against the pound. The properties of these investors are estimated to have gained in value by about 35 to 40 percent.

Dubai’s property market is a cornerstone of its economy, which can be seen as the emirate prepares for Dubai Mega Projects 2009 event. This event will be held from the 15th to the 17th of March and will be a forum for professionals in the industry to gain latest information on Dubai’s mega project market.

Dubai Investment Property

UK investors of Dubai property benefit by dirham appreciation Selectproperty.com Office 803 - Concord Tower, Tecom, Dubai Media City United Arab Emirates Dubai Office: +971 4 446 2756 UAE fax: 971 4 440 4849 UK Office: +44(0) 161 488 3555

In addition to this Safadi also highlighted the continuing aim of the Dubai Government to be more transparent by being more open to share the records of the Emirate. Statistics released recently show that net visas issued by Dubai per day in the month of January were about 1,000.

The Government of Dubai also aims for the Emirate to grow by up to 6 percent annually till 2015. Safadi also commented on Dubai’s strategy of investing into its infrastructure to aid the incoming human capital, evident by the number of visas issued.

Dubai Investment Property

Dubai economy to grow 2.5% in 2009 Selectproperty.com Office 803 - Concord Tower, Tecom, Dubai Media City United Arab Emirates Dubai Office: +971 4 446 2756 UAE fax: 971 4 440 4849 UK Office: +44(0) 161 488 3555

During this visit, Dubai’s eGovernment officials gave a detailed presentation to the delegation of RAK-eGA about the technology, quality standards, various systems and processes adopted by Dubai’s eGovernment. In addition to this, the meeting also aided in the sharing of ideas, knowledge and best practices between the parties.

RAK-eGA launched their new e-services portal just last year, which offered close to thirty government related services to the general public. The government body is also on track in taking their eGovernance platform to the next level by offering an accessible and easy to use facility that will maximise productivity and attract investments to the emirate.

Ras Al Khaimah Investment Property

Ras Al Khaimah Property News

RAK eGovernment studies Dubai’s digital transformation experience Selectproperty.com Office 803 - Concord Tower, Tecom, Dubai Media City United Arab Emirates Dubai Office: +971 4 446 2756 UAE fax: 971 4 440 4849 UK Office: +44(0) 161 488 3555

In addition to providing the city of Dubai with new transport, the Dubai Metro Project will also generate a new tier of consumers, 'Shoppers on the Move'. It is very likely that such shoppers will visit the shop again and become regular customers as they will visit these shops whenever they take the metro.

The Red and Green Lines of the Dubai Metro combined will serve about 1.2 million commuters per day. The regular flow of passengers with the provision of the right products will provide retailers with a consistent and far reaching customer base.

Dubai Investment Property

Dubai Metro Retail Outlets Project extends bidding Selectproperty.com Office 803 - Concord Tower, Tecom, Dubai Media City United Arab Emirates Dubai Office: +971 4 446 2756 UAE fax: 971 4 440 4849 UK Office: +44(0) 161 488 3555

The Dubai Shopping Festival in 2006/2007 attracted 3.5 million visitors, and it is believed that a larger event will be planned this year to encourage more people to visit Dubai.

Essa Ibrahim, Chairman of the Burjuman Centre said, “We are talking about how to encourage more people to come here to Dubai. The retail sector can play a large role. A lot of people come to the Dubai Shopping Festival and it has been very successful in promoting tourism.”

Dubai Investment Property

Shopping Festivals to boost tourism in Dubai Selectproperty.com Office 803 - Concord Tower, Tecom, Dubai Media City United Arab Emirates Dubai Office: +971 4 446 2756 UAE fax: 971 4 440 4849 UK Office: +44(0) 161 488 3555

The changes include the establishment of a property court to help solve any real estate problems that may arise as a result of making a purchase and the right to own free hold properties in Dubai following approval from the ruler.

"Nobody approaches a real estate company in the UAE without thinking twice about the paperwork and the legalities involved," Merec stated, noting that it hopes the recent legislative changes will result in a number of individuals making investments in the emirate "without any fears.

Dubai Property News

Changes in Dubai Laws to benefit investors Selectproperty.com Office 803 - Concord Tower, Tecom, Dubai Media City United Arab Emirates Dubai Office: +971 4 446 2756 UAE fax: 971 4 440 4849 UK Office: +44(0) 161 488 3555

"Dubai and its entities will see various debt maturing between now and next September and this shows Dubai can meet its obligations," said Dr Nasser Saidi, Chief Economist at the Dubai International Financial Centre.

This announcement follows clarification this week of Dubai's debt by top officials in a bid to end speculation over the emirate's borrowing. The aggregate debt owed by Dubai Government and affiliates now stands at $80billion, while its assets total $350billion.

"The fact Dubai Holding can repay Dh2.4billion of debt from internal cash flow generation demonstrates that it is indeed a solid business," said Chavan Bhogaita, Head of Credit Research for HSBC Middle East.

Dubai Investment Property

Dubai clears debt of Dh2.4 billion Selectproperty.com Office 803 - Concord Tower, Tecom, Dubai Media City United Arab Emirates Dubai Office: +971 4 446 2756 UAE fax: 971 4 440 4849 UK Office: +44(0) 161 488 3555

Mr. Mohammed bin Suwailem, Sales Director, Dubai Airport Free Zone Authority, said, 'This will be our fourth consecutive participation in this trade show to display Dubai Airport Free Zone's unrivalled and improved services and facilities to international companies and exhibitors looking to open a regional office in the Middle East.'

'Our participation gives us an opportunity to make an impression on the minds of various investors from all walks of industry and enlighten them about the vast potential Dubai Airport Free Zone has to offer,' he added.

Dubai Investment Property

Dubai Airport Free Zone showcases at Big 5 Selectproperty.com Office 803 - Concord Tower, Tecom, Dubai Media City United Arab Emirates Dubai Office: +971 4 446 2756 UAE fax: 971 4 440 4849 UK Office: +44(0) 161 488 3555

Ras Al Khaimah International Airport will focus on courting new airlines instead of relying solely on RAK Airways. “Dubai [airport] is all about Emirates, and Abu Dhabi is all about Etihad,” said Michelle Soliman, the chief executive of RAK Airport. “RAK Airways has been a brilliant catalyst, but the airport itself is not just about a home-based carrier.”

In the short term, RAK Airport will target Etihad Airways of Abu Dhabi and Oman Air in Muscat with the aim of introducing feeder flights.

Ras Al Khaimah Investment Property

Ras Al Khaimah Property News

Ras Al Khaimah Airport to attract new carriers Selectproperty.com Office 803 - Concord Tower, Tecom, Dubai Media City United Arab Emirates Dubai Office: +971 4 446 2756 UAE fax: 971 4 440 4849 UK Office: +44(0) 161 488 3555

The exclusive VIP event, held at The Hempel Hotel, London provided attendees with the opportunity to meet with the stars and discover more about the prestigious development. Grammy Award winner Kelly Rowland also delivered an outstanding live performance.

Mark Stott CEO Select Property said of the event ‘We had a fantastic response to our Aquitainia UK Launch party with many of our customers, prospects and investors turning up to find out more about the development and to enjoy the lavish party put on by Select Property and Select Group. Orlando Bloom attended the event as Ambassador of Aquitainia and everyone enjoyed Kelly Rowland’s show stopping performance’.

Following a speech from Select Property’s CEO Mark Stott, a special video message came from Hilary Swank. Miss Swank had planned to attend but unfortunately could not attend due to unforeseen circumstances.

‘The fact that Hilary Swank did a video message for us, as she was unable to attend, really accentuates the uniqueness of the project and shows how keen she is to be part of this development. Our Dubai launch is taking place on Sunday 5th October and we expect an equally successful event with even more people in attendance,’ Says Mark Stott.

Select Property, began trading in 2004 and has seen it sales double year on year, 2008 is set to continue this trend with predicted sales of more than £22million compared to £9.8 million in 2007. Select Property already employs 98 people with imminent plans for further expansion.

Local company hosts the swankiest party of the year Selectproperty.com Office 803 - Concord Tower, Tecom, Dubai Media City United Arab Emirates Dubai Office: +971 4 446 2756 UAE fax: 971 4 440 4849 UK Office: +44(0) 161 488 3555

Ramsey is one of the world’s highest earning chefs with an estimated fortune of 100 million pounds. His new ambition is to emigrate to Dubai within five years, with his wife Tana and their children.

Gordon Ramsey said that “Dubai is booming now. Everyone’s saying its going to be the next California or Monaco, because of its luxuriousness. There’s a real buzz about Dubai, Im proud to be a part of it.”

With the worlds lowest tax rates ranging from 5 to 0%, Dubai, part of the United Arab Emirates, is a magnet for millionaires. The Ramsey’s will be able to count the Beckhams, Rod Stewart and F1 star Michael Schumacher as their neighbours.

Dubai Investment Property

Celebrity Chef, Gordon Ramsey to Move to Dubai Selectproperty.com Office 803 - Concord Tower, Tecom, Dubai Media City United Arab Emirates Dubai Office: +971 4 446 2756 UAE fax: 971 4 440 4849 UK Office: +44(0) 161 488 3555

The fact that Select Property and Select Group earned one of these coveted awards is sure proof that Pacific can compete and triumph within the highly competitive Arabian property arena. Having been given this high recommendation by its peers, the company is now entitled to display the CNBC Arabian Property Awards’ logo with pride. This symbol of excellence will be recognised and appreciated by the public who are becoming increasingly well informed and discerning about the properties they seek to buy.

Entries were judged by a panel of professionals whose collective knowledge of the property industry is second to none and unsurpassed by any other property awards. Chaired by Eric Pickles, British Shadow Secretary of State, this year’s judges included Helen Shield, editor-in-chief of International Homes magazine; Peter Bolton King, chief executive of the National Association of Estate Agents; Phil Spencer, property expert and presenter of Channel 4’s Location and Relocation TV shows; Imtiaz Farookhi, chief executive of the National House Building Council; Christopher Hall, past president National Association of Estate Agents; Wilhelm Harnish, Master Builders of Australia (MBA); Thijis Staff, International Consortium of Real Estate Agents Association (ICREA); Alejandro Escurdero, SIMA; Kirkor Ajderhanyan, French Real Estate Federation (FNAIM); Omer Ghani, director of sales, CNBC Arabia; Ed Binkley, BSB Design USA; Samantha Braniff, Sydney Morning Herald; Raul Curiel, chairman, European Operations, Aukett Fitzroy Robinson; Tyler Clay, FIABCI USA; Hans-Ulrich Berendes, FIABCI Germany; Oliver Richards, founding partner, ORMS Design; Christian Kalin, partner, Henley & Partners Zurich; Graham Norwood of the Daily Mail; David Hoppit, property writer; Jill Keene, editor of International Homes magazine; Diana Yakely, chairman British Interior Design Association; and Tad Zurlinden, Association of Relocation Professionals.

Mark Stott, Managing Director said of the award, “Pacific is Select Property’s first joint development with Select Group so we are thrilled with this prestigious accolade. Pacific is located in the emerging emirate Ras Al Khaimah which is attracting increasing numbers of investors. The area is predicted to enjoy the same level of success as Dubai, which is why we decided to develop there. Now is the time for investors to buy in this naturally stunning area.”

Pacific is already generating huge interest, with its one and two bedroom apartments, Beach Duplexes and Gulf Suites. Due for completion in June 2011 the development consists of six contemporary, architecturally spectacular buildings, each named after Pacific Islands.

Pacific is situated in a prime location on Al Marjan island, offering residents private beaches overlooking the clear waters of the Arabian Sea and year-round sunshine. Facilities include 24-hour security, maid service, saunas, steam rooms and Jacuzzis a glass topped gym and health club. There is also countless dining and shopping facilities.

Select property scoops highly prestigious property award Selectproperty.com Office 803 - Concord Tower, Tecom, Dubai Media City United Arab Emirates Dubai Office: +971 4 446 2756 UAE fax: 971 4 440 4849 UK Office: +44(0) 161 488 3555

The young football stars attend Uptown School, part of the Taaleem group of schools and, according to the student’s parents; the trip was not just about football but reflected the school's method of teaching. 'Children are being offered opportunities to develop their passions; while doing so, they are getting exposed to the outside world. Their classmates are from different countries, and on trips like this they learn even more about diverse cultures. Now they know how to get along with people no matter where they are from. That's so important nowadays.'

As a result of the trip's success, the youth leader of Schlake 04, Bodo Menze, is looking to work with Taaleem to organize football camps for Taaleem's schools in Dubai.

Dubai Investment Property

Dubai football students train in Germany Selectproperty.com Office 803 - Concord Tower, Tecom, Dubai Media City United Arab Emirates Dubai Office: +971 4 446 2756 UAE fax: 971 4 440 4849 UK Office: +44(0) 161 488 3555

The ‘Green’ debate takes the lead in the latest issue of the CSR Al Youm newsletter published by the Dubai Chamber of Commerce & Industry's Centre for Responsible Business. It looks at hotels and resorts that have made the sustainable model work in the UAE by adopting environmental measures while emphasizing on why responsible sourcing is important for businesses in Dubai. It also includes an article on designing a sustainability policy.

The newsletter includes news about the launch of the 4th round of the Mohammed bin Rashid Al Maktoum Business Award new category of Corporate Social Responsibility that is dedicated to recognizing companies that successfully implement socially responsible initiatives.

Dubai Investment Property

Going Green in Dubai Selectproperty.com Office 803 - Concord Tower, Tecom, Dubai Media City United Arab Emirates Dubai Office: +971 4 446 2756 UAE fax: 971 4 440 4849 UK Office: +44(0) 161 488 3555

Eisa Adam Ebrahim, the chairman of the Dubai Shopping Malls Group said, "Bloomingdale's is now coming to Dubai as a second big anchor for malls here, following Saks Fifth Avenue and Harvey Nichols and Debenhams, not to mention the hundreds of mono brands and boutiques and flagship stores opening up in the malls of Dubai."

Dubai is seen globally as a shopping resort, reflected in the acres of shopping space being constructed in the emirate. "Over 50 per cent of Dubai's retail revenues are driven by tourism inflows," said Ian Albert, regional director at Colliers International.

The sudden burst in retail space has triggered a surge in retail spending. Dubai's retail spending could cross Dh27.89 billion ($7.6 billion) by the end of 2009, according to Retail International. By 2009, retail activities in shopping centres would contribute about 50 per cent to Dubai's gross domestic product.

Dubai Investment Property

Dubai’s booming retail sector Selectproperty.com Office 803 - Concord Tower, Tecom, Dubai Media City United Arab Emirates Dubai Office: +971 4 446 2756 UAE fax: 971 4 440 4849 UK Office: +44(0) 161 488 3555

The first diamond and jewellery summit aims to enhance trade relationships across the entire value chain of the fast-growing diamond and jewellery industry between the Middle East and China.

The summit has received tremendous response from the manufacturing, trading and retail jewellery communities in the Middle East, China and Hong Kong.

Dubai Investment Property

Dubai Multi Commodities Centre to host Diamond and Jewellery Summit Selectproperty.com Office 803 - Concord Tower, Tecom, Dubai Media City United Arab Emirates Dubai Office: +971 4 446 2756 UAE fax: 971 4 440 4849 UK Office: +44(0) 161 488 3555

Fareed Mohammad Ahmad, Secretary-General of Dubai World said, "With the growth of Dubai as a brand, more people want to know about Dubai.” Ahmad said the website will "create a gateway to opportunities that exist in Dubai and related organisations that we deal with throughout the world."

Dubai World manages and supervises a portfolio of business and projects for the Dubai Government. Users of the website will be able to access information on all the companies managed by Dubai World.

Dubai Investment Property

Dubai World Media Centre gets online Selectproperty.com Office 803 - Concord Tower, Tecom, Dubai Media City United Arab Emirates Dubai Office: +971 4 446 2756 UAE fax: 971 4 440 4849 UK Office: +44(0) 161 488 3555

Cultural tourism allows foreign tourists to learn about the UAE’s past, present and future. This unique segment of the country’s thriving tourism industry has emerged as one of the top income generating sectors.

In addition to its old souks and mock heritage villages, the UAE is earning international attention with its growing cultural initiatives. Dubai is building a new concert hall, created in tandem with the London Philharmonic Orchestra. The hall will form the centrepiece of Dubai Culture Village, a section of the city near Dubai Creek to be devoted to galleries, entertainment and high-end shops. The new Dubai Culture Village will target this segment of high spending tourists thus boosting the UAE economy.

Dubai Investment Property

Dubai Culture Village to boost UAE economy Selectproperty.com Office 803 - Concord Tower, Tecom, Dubai Media City United Arab Emirates Dubai Office: +971 4 446 2756 UAE fax: 971 4 440 4849 UK Office: +44(0) 161 488 3555

Bloomberg reports that Gatwick's owner BAA Ltd plans to sell the airport, valued at about $5.4 billion. Branson's personal fortune is estimated at $2.8 billion and he plans to form a consortium to bid for the airport, which is expected to include Dubai’s royal family.

Dubai Investment Property

Branson and Dubai Royal Family in talks to buy Gatwick Airport Selectproperty.com Office 803 - Concord Tower, Tecom, Dubai Media City United Arab Emirates Dubai Office: +971 4 446 2756 UAE fax: 971 4 440 4849 UK Office: +44(0) 161 488 3555

"Dubai's rental yields are higher than the global average of 5.5 per cent," says the report. "An investment opportunity exists in the Dubai market since the rental yields are similar to the mortgage rates of about eight to 8.5 per cent, thus allowing investors to hold the property while making mortgage payments from the rent."

Falling bank deposit rates are causing more investors to shift their focus to the property sector to earn a higher yield on their capital. Investment by foreigners is a major factor in driving property in Dubai with a key motivation being the zero-tax regime.

Dubai Investment Property

Higher rental yields in Dubai Selectproperty.com Office 803 - Concord Tower, Tecom, Dubai Media City United Arab Emirates Dubai Office: +971 4 446 2756 UAE fax: 971 4 440 4849 UK Office: +44(0) 161 488 3555

Findings of a study conducted by an objective international firm about the achievements of the Dubai Government Excellence Program show that 89% of the participants say that the program has helped achieve the vision of H.H. Sheikh Mohammed Bin Rashid Al Maktoum, 86% of the participants say that the program has a major role in implementing the goals of the Dubai Strategic Plan, and 93% of the participants say that the program had noticeably improved the performance level of governmental departments.

Many new initiatives were mentioned to further enhance the key position Dubai and its governmental services hold as among the best and most creative in the region and the world.

Dubai Investment Property

Dubai Government Excellence Program's key role Selectproperty.com Office 803 - Concord Tower, Tecom, Dubai Media City United Arab Emirates Dubai Office: +971 4 446 2756 UAE fax: 971 4 440 4849 UK Office: +44(0) 161 488 3555