News & Events
Yet another year of DURAR's successful participation at Cityscape Global Dubai 2010
DURAR PROPERTIES LLC participated at Cityscape Global which was held at DWTC from 4th October 2010 to 7th October 2010.
The event was inaugurated by H.H. Sheikh Maktoum Bin Mohammed Bin Rashid Al Maktoum.
Cityscape Global witnessed a wave of optimism from both regional and international investors which clearly indicated that Dubai is on its road of recovery.
Cityscape, as always, provided a wide platform to local and overseas investors to discuss various business opportunities with developers and service providers.
DURAR seized this event as an opportunity to showcase themselves as one of the committed developers through the completed DURAR -1 project and by informing the investors about their upcoming venture, DURAR HOTEL APARTMENTS whose construction is due soon.
Additionally, there were also prospects of selling DURAR – 1 property to some serious overseas investors with whom the negotiation is on and is going in positive directions.
Overall, it was an enthralling and rewarding experience.
Enlistment of DURAR - 1 project with DUBAI ISLAMIC BANK
DURAR Al Emarat Properties LLC is pleased to announce the enlistment of their project, DURAR -1 - Jewel of Residence Complex, with Dubai Islamic Bank for the Enduser Finance.
For the success of this partnership, Dubai Islamic Bank have extended their support for the marketing and advertising campaign of DURAR Al Emarat Properties LLC.
DURAR Al Emarat Properties LLC is confident that with such cooperation, the project will be more attractive for the investors.
Signing of the Collaboration Agreement between DURAR AL EMARAT PROPERTIES LLC and JOHN CHARCOL MIDDLE EAST LIMITED
The Collaboration Agreement was signed between DURAR Al Emarat Properties LLC and John Charcol Middle East Limited, who have an expertise in arranging mortgage financing.
By signing this Agreement, DURAR Al Emarat Properties LLC appoints John Charcol as their financial advisors, wherein they assist DURAR Al Emarat Properties LLC and their developments to become approved and listed by banks operating in UAE to facilitate mortgage financing for buyers of units in DURAR - 1 project.
Another eventful participation of DURAR PROPERTIES LLC at Cityscape Dubai 2009
DURAR PROPERTIES LLC participated at Cityscape Dubai which was held at DWTC from 5th October 2009 to 8th October 2009.
DURAR believes that such events provide a strong platform for networking, gives an opportunity to get in touch with Clients, review the latest projects while simultaneously evaluating the market status.
The positive feedback from both the participants and the visitors at Cityscape were an indicator that a consistent recovery is underway.
A successful participation in Cityscape Abudhabi 2009
With 40% increase in the exhibition areas, Cityscape Abudhabi was a good sign that the real estate business is still healthy.
DURAR was a part of this occasion that lasted for 5 days (19th April 2009 to 23rd April 2009), and had a successful participation.
During the exhibition, DURAR had a chance of meeting the investors, suppliers, consultants, contractors and service providers with serious negotiations for three (3) upcoming projects. The result of these negotiations will be announced soon.
Construction of DURAR BUSINESS TOWER will be commenced soon
Durar Al Emarat Properties LLC has signed an MOU on March 10th 2009 with M/s. PARSAN - EL NAGIM EL THAKIB CONSTRUCTION AND TRADING INC., a Canadian company having its principle office at Vancouver, with an intention of Joint Venture for developing DURAR BUSINESS TOWER, a commercial tower on Plot No. JVC12MHRS003 at Jumeirah Village South.
The MOU was signed by the Chairman of Durar Al Emarat Properties LLC, Mr. Ibrahim A. Al Habib, and Directors of M/s. PARSAN - EL NAGIM EL THAKIB CONSTRUCTION AND TRADING INC., Mr. Abbas Abdel Salam Salih & Mr. Muzaffer M. Ataman in the presence of DURAR's senior management.
The formal Agreement will be signed on April 10, 2009 and same shall mark the commencement of the Project.
DURAR AL EMARAT PROPERTIES L.L.C. secure a finance from ADNIF for its DURAR - 1 project
DURAR AL EMARAT PROPERTIES L.L.C., a Dubai based property development company has signed a facility agreement with Islamic Banking (NBAD) - ADNIF (Abu Dhabi National Islamic Finance), the Islamic finance subsidiary of National Bank of Abu Dhabi PJSC.
The Agreement offers facilities up to an amount of AED 108,000,000/- (Dirhams One Hundred & Eight Million Only) for the two identical Residential Buildings at Dubailand Residence facing the Academic City in Dubai - Al Ain Road.
Mr. Ibrahim Al Habib, Chairman - DURAR Al Emarat Properties L.L.C. said, "We have immense confidence in Dubai Real Estate Market and we are extremely pleased to announce our cooperation with ADNIF. We have lots of plans for the new project and we are moving ahead with them taking advantage of our cooperation with ADNIF, which we firmly believe will be long lasting."
Mr. Habib added further "We didn't notice any change in the facilities granted by ADNIF subject to the fulfillment of their requirements. At DURAR, we believe in working and delivering best results rather than making noise. We have fulfilled all the requirements of RERA and Finance department.. We offer open information about the project to our customers, which we believe is one of our strengths."
He informed, "DURAR -1 is progressing as per the Construction Program, and the casting of the foundations has been completed. On the other hand, the construction will commence for our DURAR BUSINESS TOWER at Jumeirah Village in a week's time."
Head of Corporate and Commercial Division - ADNIF said, "We are pleased to establish business collaboration with DURAR AL EMARAT PROPERTIES L.L.C. and we will work together towards mutually beneficial relationship."
DURAR Properties to commence construction of their second project
The Chairman Mr. Ibrahim informed, "DURAR -1 is progressing as per the Construction Program, and the casting of the foundations has been completed. On the other hand, the construction will commence for our second project - DURAR BUSINESS TOWER at Jumeirah Village in a week's time."
Durar 1 twin tower real estate project unveiled in Dubai
Durar Properties, leading UAE-based property development company, in joint venture with Saudi-based real estate and property investment groups, Zuhair Al Habib, Saleh Al Habib Investments and Al Mutawa Investments, has unveiled a residential project in Dubai. Durar 1 is a spectacular twin-building development located at Residence complex in Dubailand.
Mohammed Miqdadi, GM, Durar Properties, said, "The involvement from Saudi Arabia in this project highlights the growing interest of the global community in the local real estate industry, with the UAE real estate sector attracting SAR 30 billion of investments in 2007. We will launch even more lucrative projects in 2009 and the coming years".
Durar 1 is a freehold real estate project in Dubai. It will boast of include sky gardens, temperature-controlled roof-top pools, reception lobby, high-speed elevators, sauna and steam rooms, fully-equipped gym, excellent communication facilities, 24/7 security and maintenance, separate children's play area & nursery and ample parking facilities.
Durar unveils Dh250m project in Dubailand
Dubai: UAE-based developer Durar Properties on Wednesday unveiled its first joint venture project - worth Dh250 million - with Abu Dhabi-based Ali and Sons and leading Saudi conglomerates. Durar 1 will be a 63,000 square feet, 19-storey twin tower development in the Residence complex in Dubailand.
The total built-up area will be 287,000 square feet. The project comprises 236 units, ranging between one-, two- and three-bedroom apartments. Prices start at Dh1,050 per square foot and reach around Dh1,175 per square foot on the 19th floor.
Durar 1 is a joint venture project between Durar Real Estate and Abu Dhabi developer, Ali and Sons. Durar 1 is due to be completed in December 2009.Saudi real estate and property investment groups, Zuhair Al Habib and Saleh Al Habib, will also invest in the project.
"Increased Saudi investment in the UAE has been driven by the emergence of government legislation aimed at protecting investors, which is steadily being refined to benefit more buyers," Zuhair Abdul Aziz Al Habib, director and chairman of Zuhair Al Habib, said at the launch.
Durar Properties and Ali and Sons recently signed an agreement and Durar 1 is the first project between the alliance, Durar Al Emarat Properties. Mohammad Miqdadi, general manager, Durar Properties, said the new company already has plans for Durar 2 and 3. "Durar 2, a commercial building in Jumeirah Village, will be launched in the coming three months," Miqdadi said.
"Our investors in Saudi Arabia are investing in the local market there. For us at Durar, we will go to the Saudi market if there is a freehold law there. "Emaar projects and other developments in Saudi Arabia encourage us to go to the Saudi market," Miqdadi said. On whether a freehold law in Saudi Arabia is likely, Miqdadi said: "They are expecting it."
Durar 2 will be worth around Dh190 million to Dh200 million. Construction on Durar 3 will commence in two or three months time and will take 22 months to complete. Increased Saudi investment in the UAE has been driven by the emergence of government legislation aimed at protecting.
Durar Properties discuss terms for project financing
DUBAI - UAE's Durar Properties is negotiating with Abu Dhabi National Islamic Finance (ADNIF), a subsidiary of the National Bank of Abu Dhabi, to secure up to 80 per cent financing for its Dh250 million Durar 1 project.
The company's general manager, Mohammed F Miqdadi, revealed yesterday evening following the launch of Durar 1, a twin-building development at the Residence Complex of Dubailand.
He said the project is a joint venture between Dubai Properties and the Abu Dhabi-based diversified firm Ali & Sons Company, and is supported by Saudi Arabia's property developer Zuhair Al Habib and investment groups Saleh Al Habib Investments and Al Mutawa Investments.
With the delivery of Durar 1 set for December 2009, Dubai Properties is already preparing to launch the Dh200 million Durar 2, a commercial building to be built in Jumeirah, in October. The company is also finalising plans for Durar 3, which may be built at Dubai Waterfront, the world's largest man-made development. Miqdadi said the new projects would be launched as soon as their construction begins. "We don't launch before we start the construction," he stressed in a Press conference.
He said the nine-storey Durar 1 would have a total of 236 units of one-, two- and three-bedroom apartments, and sky gardens, temperature-controlled roof-top pools, impressive reception lobby, high speed elevators and a gym with sauna and steam rooms.
Durar Al Emarat Properties, a joint venture between Durar Properties and Ali & Sons Company, will operate in Dubai and act as the management company for Durar projects.
Zuhair Abdul Aziz Al Habib, the director and chairman of Zuhair Al Habib, said in a statement that efforts by the UAE government to protect investors have driven the increase of investment from Saudi Arabia.
"Our tie-up with Durar Properties is a testament to our decision to further our presence in this highly lucrative market, and is poised to strengthen and build our reputation for quality and reliability," he added.