United International Press

Project Development

Abu Dhabi illustration 5

Abu Dhabi, whose GDP is expected to reach USD 159 billion by 2010, is one of the world’s richest countries, but until recently local property initiatives have been lagging behind the emirate’s economic success, and rents have been rising.

Building for the future: more than USD 125 billion in new projects

The government and private sectors are determined to change this by launching a number of ambitious projects that are expected to bring around 10,000 new residential units onto the market in 2008, with an impressive 140,000 new units to be completed by 2009. New laws signed by H.H. Sheikh Khalifa in 2005 allowing United Arab Emirates nationals to own property in Abu Dhabi, Gulf nationals to acquire freehold land in designated areas, and others to acquire 99-year leases are drawing customers from throughout the Gulf and beyond.
Abu Dhabi is also building new office and commercial space as well as luxury hotels and resorts to support its fast-growing tourism sector. Shuaa Capital estimates that around USD 125.3 billion in projects are currently underway or being planned by the country’s top seven real estate developers, and around USD 55 billion is to be invested in the tourism sector between now and 2010.

World-class cultural district

The Tourism Development and Investment Company (TDIC) has launched several major tourism-related projects, including the AED 100 billion Saadiyat Island, which is to have a world-class cultural district that will include branches of the Guggenheim and Louvre museums, a performing arts center, a golf course, 29 hotels and much more. Celebrated architects like Frank Gehry, Zaha Hadid and Jean Nouvel are participating.
Sheikh Sultan bin Tahnoon Al Nahyan, Chairman of TDIC and of the Abu Dhabi Tourism Authority, recently received a cultural leadership award from the American Federation of Arts for his work on this project. He commented, “In selecting Abu Dhabi for this singular honor, the Federation has recognized the ability of Saadiyat Island’s cultural district to enrich the international community.”
Aldar, Abu Dhabi’s biggest developer, has launched the USD 40 billion Yas Island project that will include a Formula 1 track, a Ferrari theme park, around 30 hotels, thousands of apartments and villas, and many other initiatives. Aldar’s projects also include the multi-billion-dollar Al Raha Beach development.
Sorouh Real Estate is building its landmark Shams Abu Dhabi project on Reem Island, the 83-story Sky Tower (the emirate’s highest building), and the one-million-sq-ft Central Park mixed-use development, among others.
With its vast cash reserves, thriving economy, expanding national airline (Etihad), new international airport, and many upscale attractions, Abu Dhabi has positioned itself to support a thriving property market and tourism sector for years to come. International real-estate investment funds are showing considerable interest in Abu Dhabi, which they regard as undervalued at present and with significant growth potential.

Sorouh Real Estate

“Bring communities to life in perfect balance.”

Abu Dhabi based Sorouh Real Estate was established on June 26, 2005 with a commitment to promote a spirit of innovation. This spirit has lead us to develop a vision that sets us apart from our competitors and meets the needs of residents in today’s urban developments.
Sorouh’s corporate vision is to “bring communities to life in perfect balance”. Our real estate projects utilize innovative design, state-of-the art technology and the latest in construction techniques to meet all the core needs of human wellbeing. Our comprehensive approach to building communities that offer balanced lives requires new planning approaches and design skills, both of which we have secured amongst our own staff and through partnerships with world renowned experts. Some of the world’s best architects and engineers have joined forces with Sorouh to create inspiring yet practical living spaces.
The company announced its first major local development project, Shams Abu Dhabi in September 2005. Shams Abu Dhabi will feature projects such as the Gate District, an architecturally renowned cluster of 8 towers designed as a gateway to the peninsula of Reem Island, the 74-story Sky Tower, one of the 8 towers of the Gate District which will be a pinnacle of luxury for its residential and commercial occupants when completed and Central Park with its broad expanses of green, extensive recreational and educational offerings covering 20 acres.
Other developments within Abu Dhabi include, the Golf Gardens, a development of 390 villas overlooking the Abu Dhabi Golf Course; Tala Tower, a residential tower on Reem Island overlooking Abu Dhabi Mall; Saraya, a mixed-use development in a highly desirable location on the Abu Dhabi Corniche as well as three rental villages. Al Khalidiya Village and Sas Al Nakhl are both located within Abu Dhabi while Al Oyoun Village is a rental village located on the outskirts of Al Ain.
The recently launched Al Ghadeer is an oasis of easy living on the border between Abu Dhabi and Dubai at Saih As Sidira. Expected to be home to over 18,000 people the 33.3 million sq feet site is a complete community featuring quality affordable homes yet offering easy access to the UAE’s commercial centers, airports and ports.
“Sorouh’s unwavering commitment to make a telling contribution to Abu Dhabi’s development is manifested in almost every project it undertakes, be it setting up waterfall climbing venues at Shams Abu Dhabi or planning Saraya’s towering skyscrapers that will change the Corniche landscape, Sorouh Real Estate is determined to help position Abu Dhabi as a modern, cultural and cosmopolitan city in the time to come,” Mounir D. Haidar commented.

Dubai Pearl

“Dubai Pearl is an exceptional urban landmark development.”

Dubai Pearl, a dynamic new addition to Dubai’s skyline, upholds the emirate’s reputation for creating daring, innovative projects that enhance quality of life and provide outstanding investment opportunities.

Ideally located overlooking the world-famous Palm development, a palm-shaped man-made island off Dubai’s coastline, Dubai Pearl, with a budget of more than USD 3 billion, offers everything for which Dubai is known, and more: luxurious residential properties, state-of-the-art office space, five-star hotels, restaurants, upscale shops, sports facilities, a health club, all sorts of entertainment and cultural options, an ideal location with magnificent views of downtown Dubai and the Gulf – and it’s even within a free zone.
Right in the heart of Dubai’s, most up-and-coming neighborhood, Dubai Pearl is located at the base of Palm Jumeirah and within the TECOM managed Dubai Media and Technology Free Zone.

Reinforcing Dubai’s role as global city of excellence

As prominent local business leader Abdul Majeed Al Fahim, Chairman of Dubai Pearl, explains, “Dubai Pearl has a unique location, in the heart of the new Dubai, overlooking the magnificence of Palm Island, the Burj Al Arab and the pristine waters of the Arabian Gulf. We conceived and planned Dubai Pearl as an international-quality landmark that will continue to reinforce Dubai as a global city of excellence. Arguably the best location in Dubai deserves nothing less.” Dubai Pearl is a fully integrated, pedestrian-friendly freezone catering to a sophisticated urban clientele.
Dubai Pearl’s high-end facilities and amenities will please the most discerning tenants and visitors, both local and foreign. Al Fahim points out, “Dubai Pearl’s superior technical standards will enhance the development’s quality and luxury positioning. Dubai Pearl will offer the best in entertainment, dining and shopping within a few steps of where residents and visitors live, work or stay. Dubai Pearl is designed for 24 hour living.”
Dubai Pearl is made up of a total of 24 buildings with an iconic 65-story landmark tower. Surrounding the tower is a cluster of 20 buildings ranging from 5 to 11 stories. The total development area is up to 17 million square feet comprising a mixed-use development with commercial, residential, hotel, retail and leisure facilities.

Cutting-edge design features flexible space

Although it is a dramatic new feature of Dubai’s skyline, Dubai Pearl has been designed to fit seamlessly into its environment. Flexible spaces with many windows help Dubai Pearl blend into its waterfront setting and offer matchless views. The retail center on the street level forms a link between the towers and surrounding areas. Al Fahim explains, “The buildings have been designed to provide maximum space efficiency; for example, the towers have space efficiency of up to 90 percent. This is attractive to hotel operators, commercial tenants and residential owners as it enables end-users to maximize space, which is a cost-saver.”
Everything within Dubai Towers incorporates the latest technologies, from Technoworld “smart” office space designed to make Dubai Pearl the emirate’s most prestigious business address, to environmental technologies that meet the highest international standards. Indoor gardens and fountains enhance quality of life. Dubai Pearl “required the orchestration of many creative and technical skills assembled from all over the world,” Al Fahim says, adding, “We set our minds to perfectly craft Dubai Pearl into an exceptional urban landmark development.”

High-potential investment opportunity

For American investors, Dubai Pearl offers an outstanding opportunity to acquire luxurious freehold property in one of the world’s fastest-growing economies. Buyers can count on the highest international standards, a transparent sales process and guaranteed delivery dates. For American companies and retailers, Dubai Pearl is an ideal business base. Al Fahim explains, “The value of this development starts with the product mix and available selection of property all the way to the services that we will provide to the end-user and community.”
Within Dubai Pearl is an upscale mall, a boutique shopping area, as well as the Dubai Royal Hall, with a seating capacity of 1,500, which will be a venue for the performing arts and equipped with the latest technologies. Techno World will include an exhibition area showcasing the latest technologies and providing a world-class setting for local and international manufacturers.
Dubai Pearl will contain several five-star hotels providing a total of 2,200 hotel rooms, including serviced apartments. All the hotels will provide the ultimate in luxurious amenities, making Dubai Pearl one of the most attractive hotel options in the region.

Focus on excellence

Dubai Pearl welcomes companies that can help add value to this prestigious project. Al Fahim says, “Dubai aims to select best-of-breed technology and knowledge from leading players worldwide. Naturally, given the United States’ lead in technology and knowledge development, we welcome partnerships with American players. However, at Dubai Pearl, as with all major developments within the United Arab Emirates, quality and excellence will be the governing criteria in partnership selection, not necessarily geography.”
To potential American investors and partners, Al Fahim concludes, “There has never been a better time to get on a plane and come to Dubai to see everything our emirate has to offer, especially since Dubai’s own airline, Emirates Airline, now offers non-stop service from New York’s JFK airport. Dubai is the land of opportunity.”

Hydra Properties

“Hydra Properties creates not just buildings, but real communities.”

Hydra Properties, launched in mid-2006, has already established a reputation as one of the world’s most creative and dynamic property-development enterprises. CEO Dr. Sulaiman Al Fahim, winner of the CEO Middle East Awards 2007 for “Visionary of the Year”, explains Hydra Properties stands out from other property-development companies in its long-term approach and in its focus on creating “not just buildings, but real communities.”
Dr. Fahim, who in 2006 was named one of the Arab world’s most influential leaders, explains that Hydra Properties abides by ten key principles, which are to develop properties in prime locations, make sure each development has its own distinct identity, provide state-of-the-art infrastructure, ensure the highest standards of quality, maintain attractive prices, strive for on-time delivery, incorporate “green” technologies to make sure the development is environmentally friendly, provide amenities that will promote attractive lifestyles, offer the highest-quality services to partners and customers, and promote customer participation in projects so that customers’ needs will be met.

Properties perform well as investments

In addition, Hydra Properties aims to make sure that its properties perform well as investments. Dr. Al Fahim says, “When people invest in a development created by Hydra Properties, they can be confident that, in addition to enjoying an attractive living and working environment, the value of their investment will increase. Our mission is to ensure our customers the best possible experience while maximizing the potential return.”
The company’s specialty is major multi-purpose developments with commercial, tourism, residential and business components. Thanks to its professional expertise, Hydra Properties manages its projects from start to finish, including land purchase, appointment of award-winning architects, execution and monitoring of projects with contractors, handover and follow-up. As Dr. Al Fahim explains, “The processes and practices that we employ are in line with and often exceed international standards. Hydra Properties is renowned for its ability to provide superior product value.” In fact, ensuring value – for partners, shareholders and end-users of the properties – is Hydra Properties’ guiding principle.

Key projects in the United Arab Emirates

Hydra Properties has completed several major projects in the United Arab Emirates – Hydra Towers, Eves Tower, Hydra Down Town Tower, and Hydra Twin Towers – and has recently announced two new projects that will also adhere to the company’s credo of providing cutting-edge, environmentally friendly property developments with long-term appeal for investors and users.
In May this year, Hydra Properties launched Hydra Village in Reef, Abu Dhabi, ideally located within easy access of the United Arab Emirates’ key business and commercial centers. Hydra Village is an eco-friendly, “smart”, gated community near Abu Dhabi’s business and commercial districts yet offering the convenience and comfort of a self-contained small city. When he announced the project, Dr. Al Fahim said, “Hydra Properties, which in a short span since its inception has emerged as a leader in the local real-estate development sector, strives to own and operate real estate that brings immense value through a redefined concept of living.

Focus on “green” and “smart” technologies

The new development is very “green” in a number of ways. It features extensive landscaped green space as well as a special recycling program, a water conservation system, non-smoking areas, free public transport to help cut down on vehicle emissions, and a number of energy-saving materials and technologies incorporated in all construction.
Hydra Village includes townhouses, luxury apartments, commercial space, parks, mosques, a hospital, a five-star hotel and other state-of-the-art facilities and services. It is one of the most technologically advanced property developments in the United Arab Emirates.
The Hydra Village “smart” homes, for example, offer residents state-of-the-art cabling, communications, surveillance, security, heating, ventilation and air-conditioning systems, all as standard, while an optional luxury installation also includes a swimming pool, Jacuzzi, sprinkler system, lighting and temperature controls, drapery controls linked to astronomical clocks, appliances controls, safety systems, whole-house audio-video, a central vacuuming system, an energy monitoring system and more. Residents can monitor and control these systems in a number of ways, including by telephone or online.

USD 500 million Hydra Waves making waves in Mazatlan

In addition to this innovative new project in the United Arab Emirates, Hydra Properties has announced its USD 500 million Hydra Waves development in the popular tourist destination of Mazatlan, Mexico, overlooking the Pacific Ocean. Dr. Al Fahim explains,
Hydra Waves will include a five-star hotel that contains 500 rooms and 1,000 apartments with sea views, as well as a 1,000-seat conference center, a 100,000-sq-ft shopping center and a vast ballroom. “Hydra Properties, through its many developments, is showcasing its strengths in building communities that highlight a difference in their environments through establishment of comfortable lifestyles,” Dr. Al Fahim points out.

Opportunities for American investors

Through its many projects and thanks to its long-term perspectives, Hydra Properties is transforming the United Arab Emirates and is set to play a dominant role in the local, regional and international property sector in the future.
Hydra Properties welcomes partnerships with American companies and investors, and represents an outstanding investment opportunity. As Dr. Al Fahim explains, “It is our aim for investors to work with us from one project to the next, growing their portfolio in conjunction with Hydra Properties.”
Describing his goals for Hydra Properties, Dr. Al Fahim concludes, “At Hydra Properties, we believe that real-estate projects must always stand for human value. For Hydra Properties, the focus is always on excellence and enrichment, providing a better life for the community and better returns for investors. Our measure of success is the degree of customer satisfaction that we achieve.”