Eid Mubarak everyone! The holy month of Ramadan has come to a close and like every week, we bring you the latest property news in the UAE making headlines. With Dubai going back to its regular pace, let’s take a look at the announcements and real estate news stories from the UAE property market made in over the past few days.
nakheel announces A New Dancing Fountain In Dubai
Residents of Dubai, get ready to welcome another dancing fountain in Dubai. One of this week’s biggest real estate update, making waves for property news in the UAE is Nakheel’s announcement of the new dancing fountain on the Palm Islands.
Nakheel has announced that the new world-class attraction will be the focal point of The Pointe on the Palm Jumeirah Islands. Nakheel has awarded the AED 66m contract to China’s Beijing Water Design to deliver and operate the attraction which will cover over 12,000 sq. m area on the Palm. The dancing fountain will feature synchronized and choreographed shows similar to the one at The Dubai Mall.
Commenting on the announcement, Nakheel’s Chairman, Ali Rashid Lootah said: “The Pointe is an iconic, must-see attraction that adds a new dimension to the city’s dining, retail and entertainment scene. Today’s signing is a major milestone for The Pointe, as it means work on its centrepiece – the fountain – is now underway, and we are one step closer to delivering this eagerly-anticipated destination,” Nakheel chairman, Ali Rashid Lootah said.
The Pointe, which sits at the tip of Palm Jumeirah, just across the bay from Atlantis Palm Hotels & Resort, is a recent development by the UAE-based developer which will feature over 100 dining and retail outlets, providing visitors with a spectacular waterfront dining and entertainment experience.
purchase property in Sharjah without a UAE residency visa
Great news for property investors in Sharjah. The announcement of the 10-year visa law in the UAE has opened up the opportunities for investors and expats looking to purchase property in Sharjah. Expats without a UAE residency visa can now buy property in the Sharjah on a 100-year renewable land lease.
“All this will stimulate demand, together with continued efforts by Sharjah to develop the private sector, strengthen the economy by diversification and shape a favourable environment for job creation, business growth and investment,” said John Stevens, Managing Director of Asteco.
The new legislation that came into effect a few weeks back is doing wonders for the UAE real estate market. The new policy is expected to boost the constructions residential developments in Sharjah as developers will be able to promote their projects globally and target investors from around the world.
Nakheel awards Dh448 million contract for Deira Islands bridge
DIFC grand mosque set to open in 2019
Dubai International Financial Centre (DIFC), is prepping to bring its state-of-art mosque, known as ‘DIFC Grand Mosque’ to the public in 2019. Placed at the heart of Gate Avenue at DIFC, the DIFC Grand Mosque is one of the most exciting real estate news stories this week.
The DIFC Grand Mosque is one of the most anticipated aspects of Gate Avenue which is a new retail, leisure and cultural development at the heart of DIFC. With the capacity to host 500 worshippers, the 4,500 sq. ft. the mosque will be accessible 24 hours and serves all five daily prayer times, Friday and Ramadan prayers. The mosque strays away from traditional mosque designs with its cubic shape. The exterior will feature a minimalistic design of geometric Islamic patterns.
Arif Amiri, CEO of DIFC Authority, said: “The DIFC masterplan continues to introduce state-of-the-art, urban architecture that is designed to enrich the experience of our growing community of professionals, residents and visitors alike. DIFC Grand Mosque, together with the broader world-class offering of Gate Avenue, marks an important addition to the interconnected ecosystem we have at DIFC, and bring a new dimension to the attractive infrastructure we have in place.”