Billionaire Indians spending millions for Burj Khalifa Address
BR Shetty, UAE-based industrialist, paid Dh45 million in 2005, to buy entire 100th floor. Indians are among top buyers in Burj Khalifa, the world’s tallest residential tower and have invested Dh18billion in Dubai’s real estate market last year.
Singapore based Indian-origin businessman BK Modi, Danube Chairman Rizwan Sajan and Bollywood star Shilpha Shetty are among publicly known names who own apartments here. The list also includes a number of India-based industrialists.
Why do they buy? “It’s all about the address, the affluence…and so I decided to buy here though I hardly stay for a few days here,” Modi told Emirates 24/7.
The Businessman, who keeps investing in property, owns over 40 apartments in iconic towers across the World.
While BBC quoted Shetty, saying “It is an iconic landmark known for its magnificent architecture and world-class comforts. To be able to own a piece of this one of a kind structure is an absolute privilege and a matter of great pride. The view is spellbinding to say the least. You can see all of Dubai and its architectural beauty.”
Emirates 24/7 reported that the costliest apartment deal of 2014, valued at Dh60 million, was transacted in Burj Khalifa. In fact, the number of investors buying apartments through home loans in the tower had doubled in the first nine months of 2014 compared to the same period the previous year.
Do you want a piece of this iconic building?
2 Bedroom plus maids room, 2,056 sq ft, DIFC View, AED3,400 per sq ft.
2 Bedroom, 1,718 sq ft, Full Fountain View, AED4,000 per sq ft1 Bedroom, 1,173 sq ft, DIFC View, AED3,400 per sq ft 2 Bedroom, 2,036 sq ft, Full Fountain View, AED3,600 per sq ft, high floor .
Dubai’s realty can navigate past oil price slide
No hint of panic-led property transactions taking place as owners prefer to hold on.
The UAE’s real estate sector has been showing no signs of panic attacks over the collapse of oil prices in recent weeks. There have been no reports of investors suddenly trying to offload their properties fearing an imminent correction, no are the indications that asking prices are being slashed in the hope of making a deal at any cost.
In short, the current crisis oil is facing is not going to spill over into Dubai’s realty immediately. But if oil remains under pressure for an extended period, that could upset the dynamic somewhat.
‘Declining average annual oil prices could impact the GDP as soon as Q6-16, although this trend is unlikely to directly impact Dubai real estate prices’, according to a recent report from Phidar Advisory. ‘No correlation was found between oil prices and real estate prices or GDP and real estate prices, which are a function of supply, demand and market psychology . (Gulf News)
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The UAE’s real estate sector has been showing no signs of panic attacks over the collapse of oil prices in recent weeks. There have been no reports of investors suddenly trying to offload their properties fearing an imminent correction, no are the indications that asking prices are being slashed in the hope of making a deal at any cost.
In short, the current crisis oil is facing is not going to spill over into Dubai’s realty immediately. But if oil remains under pressure for an extended period, that could upset the dynamic somewhat.
‘Declining average annual oil prices could impact the GDP as soon as Q6-16, although this trend is unlikely to directly impact Dubai real estate prices’, according to a recent report from Phidar Advisory. ‘No correlation was found between oil prices and real estate prices or GDP and real estate prices, which are a function of supply, demand and market psychology . (Gulf News)
Dubai Marina For Sale
Waves Tower, 1 Bedroom, Fully Furnished, Vacant, 1,000 sq ft AED1,495,000,
Marina View
Ocean Heights, 3 Bedrooms plus maids room, high floor, 1,533 sq ft, AED2,950,000,
Full Sea View
Marina Crown, 2 Bedroom plus store, 1,488 sq ft, AED2,000,000, Sea View
JLT
Icon Tower 2, 2 bedroom plus maids room, 1,350 sq ft, AED1,500,000, Lake View
Hotel Apartment, Studio apartment, fully furnished, 549 sq ft, AED1,300 per sq ft
Global View, Penthouse, 3 bedroom plus maids duplex, 2,160 sq ft, AED2,200,000
JBR
Rimal, 3 Bedroom plus maids, fully furnished, 1,833 sq ft, Marina View AED2,850,000
Shams, 2 Bedroom plus maids, 1,375 sq ft, partial sea view, AED2,500,000
Murjan, 3 Bedroom plus maids, 1,813 sq ft, sea and marina view AED2,850,000
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Signature Villa, The Palm Jumeirah, 7 Bedrooms, AED750,000 per year.
West Avenue, Dubai Marina, one bedroom apartment, AD120,000 high floor
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Dream Tower, Dubai Marina, 2 Bedroom apartment, free AC, 4 Chqs, AED120,000
Royal Beach Residence, 3 Bedroom Apartment plus maids room, Fully Furnished, Palm Views, AED295,000.
