Making processes easier for buyers
The Mortgage Advisory division of DAMAC Properties Co. L.L.C recently organized a joint workshop with representatives of Abu Dhabi Commercial Bank(ADCB).
DAMAC Mortgage Advisory is engaged in facilitating mortgage processes for buyers of
DAMAC projects. Since the inception of DAMAC Mortgage Advisory in January 2007, ADCB has extended its full cooperation and support to the mortgage advisory team, who have
successfully procured mortgages for over 100 clients.Participants discussed various measures onimproving customer service and enhancing efficiency. Suggestions on speeding the mortgage facilitation process for the customers were at the forefront of the discussion. “DAMAC has pioneered the concept of mortgage facilitation for its customers.DAMAC MortgageAdvisory is the first-of-itskind service started by any developer and we feel privileged to be apart of this endeavour.The initial screening
process carried out by the DAMAC Mortgage Advisors is quite helpful and leads to rapidresponse.The bank offers mortgages to all UAEresidents, and non-residents of selectnationalities. Zero percent closure penalty upto five years makes themortgage offer by ADCB quite attractive and unique.
Sunday 29 July 2007
Friday 29 June 2007
Dubai
Dubai is the fastest growing city in the world. It is estimated that 50% of the world's supply of cranes are at work in Dubai on projects worth $100bn including an estimated $800m on construction of the world’s tallest building, the Burj Dubai, which will stand 800 metres tall when completed. Dubai is home to the world's only seven star hotel, the Burj Al Arab and an indoor ski centre. Other developments include an underwater hotel, a Chess City (buildings in the shape of chess pieces) and Dubailand, which will become the world’s biggest theme park. It has been forced to diversify to compensate for far more limited hydrocarbon reserves. The economy is based on Dubai's reputation as an entre pot for the region, its vibrant tourist industry and thriving free trade zone.
GEOGRAPHY
Dubai is situated on the Persian Gulf coast of the United Arab Emirates and is roughly at sea level (16 m/52 ft above). The emirate of Dubai shares borders with Abu Dhabi in the south, Sharjah in the northeast, and the Sultanate of Oman in the southeast. Hatta, a minor exclave of the emirate, is surrounded on three sides by Oman and by the emirates of Ajman (in the west) and Ras Al Khaimah (in the north). The Persian Gulf borders the western coast of the emirate. Dubai is positioned at 25.2697° N 55.3095° E and covers an area of 4,114 km² (1,588 mi²).
Dubai lies in the Arabian Desert. However, the topography of Dubai is significantly different from that of the southern portion of the UAE in that much of Dubai's landscape is highlighted by sandy desert patterns, while gravel deserts dominate much of the southern region of the country. The sand consists mostly of crushed shell and coral and is fine, clean and white. East of the city, the salt-crusted coastal plans, known as sabkha, give way to a north-south running line of dunes. Farther east, the dunes grow larger and are tinged red with iron oxide.The flat sandy desert gives way to the Western Hajar Mountains, which run alongside Dubai's border with Oman at Hatta. The Western Hajar chain has an arid, jagged and shattered landscape, whose mountains rise to about 1,300 meters in some places. Dubai has no natural river bodies or oases; however, Dubai does have a natural inlet, Dubai Creek, which has been dredged to make it deep enough for large vessels to pass through. Dubai also has multiple gorges and waterholes which dot the base of the Western Al Hajar mountains. A vast sea of sand dunes cover much of southern Dubai, which eventually lead into the desert known as The Empty Quarter
GEOGRAPHY
Dubai is situated on the Persian Gulf coast of the United Arab Emirates and is roughly at sea level (16 m/52 ft above). The emirate of Dubai shares borders with Abu Dhabi in the south, Sharjah in the northeast, and the Sultanate of Oman in the southeast. Hatta, a minor exclave of the emirate, is surrounded on three sides by Oman and by the emirates of Ajman (in the west) and Ras Al Khaimah (in the north). The Persian Gulf borders the western coast of the emirate. Dubai is positioned at 25.2697° N 55.3095° E and covers an area of 4,114 km² (1,588 mi²).
Dubai lies in the Arabian Desert. However, the topography of Dubai is significantly different from that of the southern portion of the UAE in that much of Dubai's landscape is highlighted by sandy desert patterns, while gravel deserts dominate much of the southern region of the country. The sand consists mostly of crushed shell and coral and is fine, clean and white. East of the city, the salt-crusted coastal plans, known as sabkha, give way to a north-south running line of dunes. Farther east, the dunes grow larger and are tinged red with iron oxide.The flat sandy desert gives way to the Western Hajar Mountains, which run alongside Dubai's border with Oman at Hatta. The Western Hajar chain has an arid, jagged and shattered landscape, whose mountains rise to about 1,300 meters in some places. Dubai has no natural river bodies or oases; however, Dubai does have a natural inlet, Dubai Creek, which has been dredged to make it deep enough for large vessels to pass through. Dubai also has multiple gorges and waterholes which dot the base of the Western Al Hajar mountains. A vast sea of sand dunes cover much of southern Dubai, which eventually lead into the desert known as The Empty Quarter
Thursday 28 June 2007
Dubai info at a glance
DUBAI
Area: 4114km2sq : Dubai City 1287.4sqmiles
Population: 2,261,995
Capital City: Dubai City
Nationalities: 42.3% Indian, 17% Emirati, 13.3% Pakistan, 9.1% Arab, 7.5% Bangladeshi, 10.8% Other
Languages: Arabic, English, Hindi, Urdu
Religion(s): Muslim (96%) Hindu (4%)
Currency: 1 UAE Dirham = 100 fils
Major political parties: None
Government: Federation
Emir: Mohammed Bin Rashid Al Maktoum
Crown Prince: Sheikh Mohammed bin Rashid Al Maktoum
Foreign Minister: Hamdan bin Mohammed bin Rashid Al Maktoum
Membership of international groups/organisations: Gulf Co-operation Council (GCC), Arab League, Organisation of the Islamic Conference (OIC), United Nations
Area: 4114km2sq : Dubai City 1287.4sqmiles
Population: 2,261,995
Capital City: Dubai City
Nationalities: 42.3% Indian, 17% Emirati, 13.3% Pakistan, 9.1% Arab, 7.5% Bangladeshi, 10.8% Other
Languages: Arabic, English, Hindi, Urdu
Religion(s): Muslim (96%) Hindu (4%)
Currency: 1 UAE Dirham = 100 fils
Major political parties: None
Government: Federation
Emir: Mohammed Bin Rashid Al Maktoum
Crown Prince: Sheikh Mohammed bin Rashid Al Maktoum
Foreign Minister: Hamdan bin Mohammed bin Rashid Al Maktoum
Membership of international groups/organisations: Gulf Co-operation Council (GCC), Arab League, Organisation of the Islamic Conference (OIC), United Nations
Tuesday 29 May 2007
UAE TO END DOLLAR PEG
Dubai:
UAE may be the next Middle Eastern country to stop pegging its exchange rate to the US dollar, according to trading in currency forwards. The second-largest Arab economy may follow Kuwait
and Syria, which ended their peg to dollar to curb inflation. Middle East currencies have been dragged lower by declines in the dollar, pushing up the cost of imports from Europe and Asia. The market has the expectation that the UAE dirham is the most likely of the Gulf countries to follow. The dirham would climb to 3.66025 to the dollar in a year, 0.35 per cent above today’s exchange rate, trading in forwards showed. The average premium in the
so- called implied rate in the past year was 0.04 per cent. In comparison, the premium on one-year Qatari riyal forwards is 0.06 per cent. Central Bank of Syria Governor Adib Mayaleh said
that the country needed to broaden its peg to stabilise the Syrian pound and bring down inflation. Kuwait switched to a currency basket on May 20 after gains in consumer prices accelerated above policy makers target rate. UAE Vice-President and Prime Minister and Ruler of Dubai His Highness Sheikh Mohammed Bin Rashid Al Maktoum said that the
country would keep its link to the dollar, even after inflation quickened to 10.1 per cent in 2006, from 7.8 per cent the year before. The UAE dirham was unchanged at 3.6732 to the dollar until recently, according to data compiled by Bloomberg. The Syrian pound was at 52.21, the Qatari riyal at 3.6396, and the Saudi riyal at 3.7504. Forwards are agreements in which assets are traded at current prices for delivery at a later specified time and date. Trading in the contracts allows investors to bet on the value of a currency that isn't fully convertible or hedge investments denominated in it.
UAE may be the next Middle Eastern country to stop pegging its exchange rate to the US dollar, according to trading in currency forwards. The second-largest Arab economy may follow Kuwait
and Syria, which ended their peg to dollar to curb inflation. Middle East currencies have been dragged lower by declines in the dollar, pushing up the cost of imports from Europe and Asia. The market has the expectation that the UAE dirham is the most likely of the Gulf countries to follow. The dirham would climb to 3.66025 to the dollar in a year, 0.35 per cent above today’s exchange rate, trading in forwards showed. The average premium in the
so- called implied rate in the past year was 0.04 per cent. In comparison, the premium on one-year Qatari riyal forwards is 0.06 per cent. Central Bank of Syria Governor Adib Mayaleh said
that the country needed to broaden its peg to stabilise the Syrian pound and bring down inflation. Kuwait switched to a currency basket on May 20 after gains in consumer prices accelerated above policy makers target rate. UAE Vice-President and Prime Minister and Ruler of Dubai His Highness Sheikh Mohammed Bin Rashid Al Maktoum said that the
country would keep its link to the dollar, even after inflation quickened to 10.1 per cent in 2006, from 7.8 per cent the year before. The UAE dirham was unchanged at 3.6732 to the dollar until recently, according to data compiled by Bloomberg. The Syrian pound was at 52.21, the Qatari riyal at 3.6396, and the Saudi riyal at 3.7504. Forwards are agreements in which assets are traded at current prices for delivery at a later specified time and date. Trading in the contracts allows investors to bet on the value of a currency that isn't fully convertible or hedge investments denominated in it.
Sunday 29 April 2007
Holiday Destination Dubai
Dubai Beaches
Beaches are the perfect place to relax and shed off your worries and tensions. However, every beach on the earth is beautiful but beaches in Dubai are incomparable and just mesmerizing. Imagine lying on white sand, looking in the Persian Sea or showing your volleyball skills, beautiful isn’t it? The endless stretch of beaches along the Persian Sea not only gives peace but the ultimate pleasure to revitalize senses. To have a personalized service, you can join one of the five star hotel’s private beach clubs and avail their facilities. You can also make your weekend classier by renting out a beach club and enjoy your time with family and friends. However, public beaches are also available in Dubai, allowing public to bath and enjoy their sun bath. Jumeirah Beach Park is a major tourist attraction of real estate dubai, giving hours of pleasure and enjoyment.
Sightseeing
Dubai is really two Cities, Dubai and Deira. Divided by the Creek, they are a paradise for sightseeing and both have their unique characters. You will be amazed at the diversity of architecture and cultures to be found here, ranging from traditional Arab houses to magnificent modern towers of steel and glass.
The Creek is the main artery of Dubai, winding inland from the Gulf for about six miles. On its clear waters you will see traditional teak trading dhows plying their trade across the Gulf, heading as far as India. At night, the waterfront is a hive of activity, as Abras, the local water taxis, crisscrosses the Creek carrying people to their chosen restaurant or attraction for the evening.
Dubai does not only offers the usual sun, sea, sand or skiing in the dome;
Camel Racing is an ancient sport which has been renewed with much enthusiasm in recent years. Informal desert tracks and now quite a few official ones have been assigned for this purpose - a large ten kilometer track on the Al Ain road, about forty-five kilometres from Abu Dhabi city; at Al Ain itself, at Dubai and Umm Al Quwain. Certain slender, finely formed breeds such as the white or golden 'Anafi' and the brown or black 'Boushari' are more suitable for racing. Camel training commences at about six months, entrance for official races beginning at about three years.Camel races, usually held early on Fridays or on national holidays, provide visitors with a unique opportunity to observe traditionally clad local people in harmony with their surroundings. Camel racing season begins on Thursdays and Saturdays, Early October.
Desert Safaris-Trips to the desert in groups can be a great way to explore the desert and also know other people and find out a little bit more about the Arabic culture. Safaris are generally half day and can include an overnight stay in one of the Bedouin tents.
Wadi-Driving - This is a popular pastime with both residents and visitors. This involves exploring the wadis or dry beds of streams that flow after winter rains from the Hajar mountains.
Dune driving - Driving in sand can be a thrilling experience by itself and this combines the excitement of a roller coaster ride with the challenge of remaining mobile on the shifting surface. Courses in sand driving are available, with four-wheel-drive vehicles provided, along with expert instruction.
Sand-Skiing - Those with a penchant for speed, a head for heights and enthusiasm for an unusual sport will enjoy sand-skiing down the dunes of the Dubai desert.
Desert Feasts - Safaris are made more pleasurable by culminating into an evening with spectacular sunset views followed by a traditional Arab barbecue under the stars. You can even tailor your evening to your need and round it off with some great Arabic music and belly dancing, the smoking of hubble-bubble pipes and often a display of falconry.
Beaches are the perfect place to relax and shed off your worries and tensions. However, every beach on the earth is beautiful but beaches in Dubai are incomparable and just mesmerizing. Imagine lying on white sand, looking in the Persian Sea or showing your volleyball skills, beautiful isn’t it? The endless stretch of beaches along the Persian Sea not only gives peace but the ultimate pleasure to revitalize senses. To have a personalized service, you can join one of the five star hotel’s private beach clubs and avail their facilities. You can also make your weekend classier by renting out a beach club and enjoy your time with family and friends. However, public beaches are also available in Dubai, allowing public to bath and enjoy their sun bath. Jumeirah Beach Park is a major tourist attraction of real estate dubai, giving hours of pleasure and enjoyment.
Sightseeing
Dubai is really two Cities, Dubai and Deira. Divided by the Creek, they are a paradise for sightseeing and both have their unique characters. You will be amazed at the diversity of architecture and cultures to be found here, ranging from traditional Arab houses to magnificent modern towers of steel and glass.
The Creek is the main artery of Dubai, winding inland from the Gulf for about six miles. On its clear waters you will see traditional teak trading dhows plying their trade across the Gulf, heading as far as India. At night, the waterfront is a hive of activity, as Abras, the local water taxis, crisscrosses the Creek carrying people to their chosen restaurant or attraction for the evening.
Dubai does not only offers the usual sun, sea, sand or skiing in the dome;
Camel Racing is an ancient sport which has been renewed with much enthusiasm in recent years. Informal desert tracks and now quite a few official ones have been assigned for this purpose - a large ten kilometer track on the Al Ain road, about forty-five kilometres from Abu Dhabi city; at Al Ain itself, at Dubai and Umm Al Quwain. Certain slender, finely formed breeds such as the white or golden 'Anafi' and the brown or black 'Boushari' are more suitable for racing. Camel training commences at about six months, entrance for official races beginning at about three years.Camel races, usually held early on Fridays or on national holidays, provide visitors with a unique opportunity to observe traditionally clad local people in harmony with their surroundings. Camel racing season begins on Thursdays and Saturdays, Early October.
Desert Safaris-Trips to the desert in groups can be a great way to explore the desert and also know other people and find out a little bit more about the Arabic culture. Safaris are generally half day and can include an overnight stay in one of the Bedouin tents.
Wadi-Driving - This is a popular pastime with both residents and visitors. This involves exploring the wadis or dry beds of streams that flow after winter rains from the Hajar mountains.
Dune driving - Driving in sand can be a thrilling experience by itself and this combines the excitement of a roller coaster ride with the challenge of remaining mobile on the shifting surface. Courses in sand driving are available, with four-wheel-drive vehicles provided, along with expert instruction.
Sand-Skiing - Those with a penchant for speed, a head for heights and enthusiasm for an unusual sport will enjoy sand-skiing down the dunes of the Dubai desert.
Desert Feasts - Safaris are made more pleasurable by culminating into an evening with spectacular sunset views followed by a traditional Arab barbecue under the stars. You can even tailor your evening to your need and round it off with some great Arabic music and belly dancing, the smoking of hubble-bubble pipes and often a display of falconry.
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