News

News: After Emarat, Enoc also cuts diesel price  |         News: Dubai’s non-oil foreign trade nears Dh1 trillion in first 9 months  |         News: UAE jumps 14 places in global ICD Development Index  |         News: Dubai soars 11.5 percent as it leads Gulf rebound  |         News: Dubai stocks jump over 9.8% as rally continues  |         News: Why New Year’s Eve fireworks is top draw for Dubai expats  |         News: Global Village visit just got easier  |         News: Emirates To Begin Third Daily Service To Birmingham  |         News: Opec to wait for market to stabilise  |         News: Building A Luxury Brand Image In A Digital World  |         News: Much-awaited free voice calls on BBM for iPhone, BlackBerry, Android phones  |         News: Dubai Developer Omniyat Says 81% Of Units Sold Off In New ANWA Project  |         News: Global village: Around the world in a day  |         News: RTA to auction number plates on Dec.27th  |         News: Show me the money: LuLu CEO Adeeb Ahamed  |         News: Sheikh Mohammed Launches New Strategy, Dubai Plan 2021  |         News: Dubai rated among top destinations for holiday season  |         News: Over 80,000 People To Travel On 240 Emirates Flights On Dec 19  |         News: Food trucks, DIY BBQ and a gold bar cake  |         News: Dubai Int'l arrivals to rise by 36% by 2016 after runways upgrade  |         News: Dubai Duty Free extends 25% pre-Christmas sale  |         News: Is E-Commerce The Best Bet For Middle East Start-Ups?  |         News: REVEALED: Top 10 Companies in UAE In 2014  |         News: DIFF’s 11th edition opens tomorrow with a moving biopic  |         News: UAE internet advertising set for world’s fastest growth  |         News: Smartphone generation: MENA's overnight mobile internet revolution  |         News: ‘Ultimate Airport Dubai’ returns for Season 2  |         News: Google launches Street View in Dubai  |         News: Dubai's DWC inks $40m deal for aircraft painting facility  |         News: Milestone for UAE space agency  |         News: UAE's money exchange industry faces shake-up as costs rise  |         News: Interview with Majed Al Suwaidi  |         News: Dubai Tram: Game Changer?  |         News: Interview: Jumeirah on new lifestyle brand Venu  |         News: Emirates targets US and Italy routes with quick Airbus A380 rollouts  |         News: UAE luxury yacht market remains buoyant  |         News: Dubai Int'l passenger traffic grows by 5.7% in October  |         News: Is business aviation on the rise?  |         News: UAE archives go online with Google  |         News: 2015 will be a ‘Year of Innovation’  |         News: Dubai-Based App Travall To Launch Video Reviews Of Hotels, F&B Outlets  |         News: MasterCard Launches New Digital Payment System, MasterPass In UAE  |         News: UAE green growth strategy to create 160,000 jobs, save billions  |         News: Dubai Expo 2020: First milestone in six-year journey  |         News: BMW intent on staying number one in the Middle East  |         News: Dubai taxi flagdown rates revised from December 1  |         News: Taxi rates to rise in Dubai from December 1  |         News: Du signs deal with Travelling Connect for inbound roamers  |         News: GCC Petrochemical Revenues Reach $89.4bn In 2013  |         News: Dubai to attract over 381,000 cruise passengers this season  |         News: Revealed: The world’s 100 Most Powerful Arabs  |         News: Battle is on for hearts and minds of UAE employees  |         News: Emirates Targets 8-10% Profit Growth On New Aircraft, Routes  |         News: Astellas aims to introduce cancer medicines in UAE  |         News: Dubai all set to host parachuting championships  |         News: Emirates targets at least 8-10% profit growth on new aircraft, routes  |         News: Tried & Tested: First review of the Dubai Tram  |         News: Dubai ranked world's #1 city to live and work in  |         News: Etisalat aims to be first in the Middle East to deploy 5G technology  |         News: Nakheel to build $40m boardwalk along Palm Jumeirah breakwater  |         News: Mubadala-owned software services provider Injazat to open Qatar office  |         News: Spanish Firm Appointed To Operate Hollywood, Bollywood Theme Parks In Dubai  |         News: Gold will always shine  |         News: Souq.com Plots MENA Black Friday Sales Weekend  |         News: UAE boat builder Al Marakeb aims to make waves in unmanned vessels  |         News: Dubai World close to agreeing deal to extend $10.5bn debt settlement  |         News: Hard Rock Hotel To Open In Dubai Marina  |         News: OPEC says oil price to rebound by Q2 next year  |         News: UAE credit bureau starts retail ops, to cover companies next year - CEO  |         News: Dubai's DP World to buy Jebel Ali Free Zone owner for $2.6bn  |         News: Dubai needs to invest $2bn building 51 new schools by 2020, says report  |         News: Dubai Tram essential guide  |         News: Get in the Ring for investment opportunity  |         News: Accor To Double ME Inventory, Invest €225 Million In Digital  |         News: Oil companies look to Emirati workers amid sector-wide skills crunch  |         News: The bravest thing Branson could do right now is hang up his space helmet  |         News: Meet the man who created YouTube but what did Chad Hurley do next?  |         News: Dubai’s Sheikh Mohammed establishes new award for world peace  |         News: UAE Industrial momentum  |         News: UAE economic recovery at fast pace: IMF  |         News: Dubai repays $1.93bn debts taken out before crisis  |         News: Emirates Airline looks to free Wi-Fi on entire fleet  |         News: UAE’s Etisalat Q3 Net Profit Rises 22%  |         News: Gold and silver extend losses, struggle near 4-yr lows  |         News: Dubai Tram traffic rules, fines: What you must know  |         News: How To Rule The World Like… Elon Musk  |         News: Dubai firms urged to list locally to compete globally  |         News: Emirates NBD lists first NZ currency bond on Dubai bourse  |         

News

Dubai Developer Omniyat Says 81% Of Units Sold Off In New ANWA Project

The Dhs600 million seafront project registered Dhs432 million in sales during the first phase of launch.

Dubai developer Omniyat said that it sold 81 per cent of units in its newly unveiled ANWA project during the first phase of launch.

The company registered Dhs432 million in sales for the seafront project, it revealed in a statement.

Currently, only units in the upper floors of the G+44 are available along with five townhouses that were not released for sale, it added.

Launched on December 9, the Dhs600 million ANWA project is a 48-storey tower in Dubai Maritime City containing 225 units, all offering sea views.

Omniyat has signed a partnership with Kele as the contractor for the project, and with Al Ghurair Contracting & Engineering Works as the specialist contractor for the piling works.

The project is scheduled to be handed over by the first quarter of 2016.

“The location of ANWA is perfect, as Dubai Maritime City is primed to be one of the hottest residential zones of Dubai,” said Mark Phoenix, managing director for Omniyat Group.

“We were greeted with phenomenal interest from end users, many of them living in the vicinity of Bur Dubai and Jumeirah,” he added.

Off-plan developments continue to attract investors in Dubai’s residential market, despite a range of new regulations, according to experts.

A report released by property consultancy Cluttons last week found that although freehold transactions in Dubai fell by almost one-third in total during the third quarter of 2014, the emirate’s off-plan residential market saw booming sales.

“Many households that are determined to purchase, now view off-plan properties as good value,” said Steve Morgan, CEO of Cluttons, Middle East.

However, the report also added that Dubai’s real estate sector is entering a period of sustainability after a period of rapid price growth and that fears of overheating are now subsiding.

By Aarti Nagraj
2 hours ago
Gulf Business