A Land Department-led initiative to create an Arab world-wide valuation institute and introduce uniform standards and practice came to fruition today at a closed meeting of the profession’s leaders in Dubai.

Sheikh Mohammed bin Khalifa Al Maktoum, President of the Land Department, presided at a one-day summit held at Atlantis, The Palm, to formally establish the Arab Appraisal Foundation (AAF) and agree its constitution.

The initiative is the result of sustained cooperation between the Land Department and the Arab League-sponsored Arab Administrative Development Organisation. Sultan bin Butti bin Mejren, Director General of the Land Department, formally presented the constitution of the new organisation which is intended to have a role which will see it become the Arab world’s equivalent of influential international institutions such as the US Congress-approved Appraisal

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Emaar Misr, the wholly-owned subsidiary of Emaar Properties PJSC, introduced the ‘Intelligent Real Estate’ concept at the Cairo ICT Exhibition held at Cairo International Conference Centre.

Smart solutions for both home and office that are available at Emaar Misr’s integrated master-planned communities in Egypt were highlighted at the Emaar Misr pavilion.

‘Intelligent Real Estate’ is a technological innovation that is based on establishing a single IP network for communications (Voice, Video, and Data) as well as other systems including HVAC, Lighting, Energy, Video Surveillance, and Access. This enables swift, efficient and centrally operated delivery of all major operational processes and tenant services by the management.

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• Swiss Development Group is redeveloping 24 luxury private hotel residences
• Innovative facilities and world-class design by BBGM and EDSA
• Located in one of Europe’s most popular tourist destinations

Hamptons International, the premier property services company with a global portfolio of prestigious projects, has entered the Switzerland market with a property marketing contract for the prestigious Du Parc Kempinski Private Residences developed by Swiss Development Company (SDC).

Located in the picturesque hills of Mont-Perelin, one of Switzerland’s most frequented and preferred tourist destinations, Du Parc will feature 24 luxury hotel residences that are being redeveloped by SDC. World-renowned interior designers BBGM and landscape expert EDSA are working on revamping Du Parc, earlier a hotel.

A representative of Hamptons International said the Swiss expansion of the company’s portfolio will be a perfect fit for its exclusive global client base, especially those based in the Middle East region. “Switzerland is an exclusive holiday destination for visitors from the Middle East region. The Du Parc project offers owners privacy and ease of access to the mountain resorts of Verbier, Gstaad and Zermatt by a short helicopter ride and will be an ideal second or third home thanks to the pleasant climate, beautiful scenery, sense of security and the hospitality of the locals.”

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The government of Indonesia has decided to terminate all commitments with  Emaar Properties on a plan to build a US$600 million mega-tourism project in Lombok, according The Jakarta Post.

Investment Coordinating Board (BKPM) chairman Gita Wirjawan said Tuesday that Emaar had failed to meet its share of the bargain in developing the project. Gita said the government, represented by the West Nusa Tenggara government, had followed through with its commitments, including building an airport – to be completed in June – a 31-kilometer road connecting Mataram to the airport and an 18-kilometer road from the airport to Kuta Beach. Emaar failed to reciprocate in kind. We have taken this decision to ensure fairness and we will look for other possibilities,” Gita said.

The mega-tourism project has been marked by  Emaar signed a joint venture agreement with the Bali Tourism Development Corporation (BTDC) in March 2008. The agreement included establishing a joint venture company called Emaar Lombok.

Emaar claimed last year that the Indonesian government had failed to follow through with some of its promises, citing in particular the clearance of a 1,200-hectare area of land required for construction.

In October, Alwi Shihab, Indonesia’s special envoy to the Middle East, who also worked extensively on the project, said the land dispute was solved and that the project would follow through.

Further development showed that around 1,000 hectares had been set aside by the government for the project but still required certification from the National Land Agency (BPN), while the remainder still belonged to local residents.

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Developers need to adopt a policy of transparency and accountability that takes into account the gap between supply and demand, as well as global economic conditions, according to Abu Dhabi-based developer Burooj Properties.

The call for increased levels of detailed, accurate planning before committing to a development follows the news that Burooj has completed 85% of its Burooj Views development on Abu Dhabi’s Al Reem Island, with the project on schedule for a Q1 2010 completion.

“As new residential units enter the market, we expect Abu Dubai’s residential property market to stabilise, particularly when units of new mega projects, such as Al Reem Island and Al Raha Beach, become available after 2011,” said Burooj Properties MD Adel Ahmed Al Zarouni.

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“We understand the importance to the next generation”

As part of its ongoing campaign to develop skills in the young people of Oman, The Wave, Muscat has donated OMR 6,000 to the Outward Bound Oman/Tahaddi project. Outward Bound, a global leader in education through experience has a presence in more than thirty countries across Europe, the Americas, Asia, Australia and Africa. Outward Bound Oman is the first in the Arab world.

Abdullah Al Shidi, Deputy CEO, The Wave, Muscat presented the cheque to Mark Evans, General Manager of Outward Bound Oman/Tahaddi, at The Wave, Muscat Sales Centre in the presence of senior officials.

Mr Al Shidi said: “We see a great deal of potential in Oman’s youngsters, and we are absolutely delighted to offer our support to Outward Bound Oman/Tahaddi project.
It is essential to support Oman’s enormously talented youth and we were extremely impressed by the work done by Outward Bound. We understand the importance and the benefits to the next generation.”

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While many market analysts are still arguing over how long the downturn will last, The Wave, Muscat is flying the Middle East development flag with more gusto than ever.

After more than 10 million man hours, sold-out sector one of Oman’s premier Integrated Tourism Complex has been completed, meaning that every one of 133 villas and 130 townhouses is either already a home or ready to move into.

Nick Smith, CEO of The Wave, Muscat, believes this is not only a milestone in the history of The Wave, but a message that first class construction is alive and well in the Middle East. “It’s a terrific achievement to complete sector one and it encompasses everything we wanted with The Wave. It has its own community, a feeling of exclusivity, an extremely high standard of design and development and a great quality of life. It’s a wonderful feeling that we have been instrumental in providing this sort of lifestyle,” he said.

“Of course, it’s also a great chance for us to show that there is still a market for high end Middle East residential development. We have handed over more than 200 homes to date and have an occupancy of well over 70%. Without a doubt, for the right developers and the right developments, there is still an extremely bright future. We’re very happy to help play the role of ambassadors to the region’s quality construction sector.”

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For further information, please email us or call +971 50 8731863

• Plot of  land, with total area of  950 sq.m.,  in the exclusive resort  St. Constantine and Elena, near Varna.
• Magnificent view  of the Black Sea.
• It comes with a plan for construction of a building with holiday apartments, with total area of 1600 sq.m.

The plot of land has very good access road   to Varna  and  The Golden Sands, next to the palace Evksinovgrad. The beach is less than 500 m. away.  There is a de-nivilation that can be used to obtain permission for additional  residential area. Water supply, sanitation and sufficient power supply makes it  suitable for housing or  family house.

For further information on this property, please email us or call +971508731863

Luxury duplex apartment with living area  of  300 sq.m., in an old style building – monument of culture (built in 1930), main the central pedestrian zone of Varna, 100 meters from the sea garden and the beach. Carried out major repair is extremely high quality of materials and furniture.

The architecture of the building permits to build more facilities and to be used as a luxurious office, represented the company and others. Suites with air conditioning, with individual heating and basement – 60 sq.m. A wall without windows to the boulevard is now devoted to rent for two advertising billboard.

On the first level are situated  large living room with a stylish fireplace, large dining room with modern furniture and kitchen appliances; two bedrooms, office with a balcony above the boulevard with a splendid view, a bathroom with tub, shower room, urinal, WC, massive wooden staircase to the second level.

On the second level are build: bedroom with a terrace to the patio and built-in wardrobes, bathroom with a urinal, WC, shower room and sauna.

1. Design by international team focuses on maximising space, Dead Sea views and well-being
2. Phase 2 features five new buildings
3. Choice of studios, one to three-bedroom apartments and lofts; spectacular location along Dead Sea shore

Emaar International Jordan, the country subsidiary of Emaar Properties PJSC, has unveiled the second phase of The Apartments within Rift Living, a key component of the Samarah Dead Sea Resort master-planned community. The Mediterranean-styled low-rise residential towers are designed by a team of international designers with a focus on maximising space utilization, enhancing views of Dead Sea and promoting the overall well-being of residents.

A select number of units from five buildings in the second phase of The Apartments will be offered for sale ranging from studios, 1 and 2 bedroom apartments as well as 2 bedroom lofts. Currently being showcased are a choice of studios, one- to three-bedroom apartments and one and 2 bedroom lofts ranging in size from 52 to 255 sq m in total area.

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