Month: August 2022

1 Burj Khalifa

Burj Khalifa is the tallest skyscraper in the world and a city symbol. Its form is dizzying, and the project figures are outstanding. 828 meters high, 160 floors for people to live, work and admire the views.

Architect: Adrian Smith of renowned Chicago architecture firm Skidmore, Owings & Merrill (SOM). The company was founded in 1936 and had been designing skyscrapers since the 1950s.

The original form of the Burj Khalifa building descends from Islamic architecture and is inspired by the local desert flower.

2 Burj Al Arab

A symbol of Arabian luxury. The only 7-star hotel in the world is located on one of the artificial islands in Dubai. The building is made in the sail form and is now one of the iconic and recognizable skylines. 

Architect: Tom Wright

3. The Museum of the Future

The Museum of the Future is an incredible marvel of engineering. National Geographic included it in the list of 14 most beautiful museums in the world.

The entire surface of the futuristic building is decorated with delicate carvings of Arabic calligraphy. And this is not only incredibly beautiful but also innovative: the contours perforation serves as windows for the museum.

Architect: Shaun Killa

According to the architect’s idea, the very form of the museum embodies a vision of the future. It consists of 3 main elements: the green zone, the main structure, and the elliptical void in the middle. Together they symbolize the solidity, creativity of humanity, and everything that is still unknown to us about the future.

4. Infinity Bridge

The Infinity Bridge is one of the latest architectural sensations in Dubai. It connects Deira and Bur Dubai.

This bridge is undoubtedly a new fantastic object in the gallery of the city’s contemporary architecture. Its steel arches reach a height of 42 meters and form the mathematical symbol of infinity. His Highness Sheikh Mohammed bin Rashid Al Maktoum, the Vice-President and Prime Minister of the UAE and Ruler of Dubai, tweeted: “Our bridges go towards the future, and our ambitions are endless.”

The structure has six traffic lanes in each direction. There is also a 3-meter-wide bicycle and pedestrian path along the bridge.

Architect: BESIX Company

5. Artificial archipelago The World.

Sand miracle of engineering in the form of a world map.

There are 300 man-created islands at a 4 km distance from the coast, which form the 7 continents of the Earth. Investors can buy any island and turn it into whatever they want: a palace resort, a nature reserve, or a golf club.

Architect: The idea belongs to the Crown Prince of the emirate and Minister of Defense of the UAE, Sheikh Mohammed bin Rashid Al Maktoum. The leading developer of the project is Nakheel.

6. Cayan Tower

A tower with an unexpected twist. For a full 90 degrees.

And like almost everything in Dubai, it is a record-breaker. It is the tallest building in the world, twisted in this way. And one of the tallest residential skyscrapers. The house has 73 above-ground and 7 underground floors.

One of the technological features of the concept is the apartment’s protection from direct sunlight using movable perforated screens.

Architect: Studio Skidmore, Owings & Merrill (SOM)

7. Opus Complex

Opus Complex is another futuristic object in the gallery of contemporary architecture. The complex of buildings forms a cube in which a portal to the future has opened. The unusual plasticity of the void in the center of Opus certainly gives such a feeling. But, this is just the genius of the architect speaking. Zaha Hadid connected 2 adjacent towers with an atrium and an asymmetric 3-story bridge.

Architect: Zaha Hadid

8. Dubai Frame

Dubai Frame is the largest picture frame in the world. This object could appear only in this city. As a symbol of the contemporary architecture gallery. The frame is 150 meters high and 93 meters wide. There is a breathtaking observation deck in its upper part.

Architect: Fernando Donis

9. The Green Planet greenhouse

The Green Planet is not the tallest building in Dubai (only 4 floors), but definitely an intriguing one from an architectural and engineering point of view.

A lightweight cubic design resembling an origami figure hides a glass cylinder inside, where a real tropical fairy tale takes place.

On the contrary, all the technologies for maintaining the life of the greenhouse are contained outside, in a cube. Miracle, right?

Architect: Studio Grout McTavish

10 Emirates Towers

Emirates Towers are the famous twin towers of Dubai’s skyline. One of the towers (355 m) is an office building, and the second (309 m) is a hotel.

Both buildings are crowned with peculiar equilateral triangles and a spire. And are also finished with aluminum panels with silver and copper reflective glass, creating a unique optical effect when the light plays on the facades.

By the way, in 2000, these were the tallest skyscrapers created by a woman.

Architect: Hazel Wong

We, OBJECT1, represent contemporary development in its most aesthetic form. Yes, that’s right. We build not for the sake of square meters but for the object’s beauty. Its uniqueness and appeal. In terms of design, architecture, functionality, and technology.

We are interested in objects whose value will only grow yearly, like art.

Our vision is that the city is a gallery. And we want to see in it only those exhibits that deserve attention. Mesmerize. Conquer. Break stereotypes.

That is why we have chosen Dubai to fulfill our mission.

A city that has already received worldwide architectural recognition. The famous Zaha Hadid worked here, and the tallest Burj Khalifa skyscraper tower and the most unusual Museum of the Future are located here.

We are sure that we’ll also be able to add a valuable and aesthetic object to the collection of this metropolis.

And here are our arguments:

1. Experience

We have been working in the real estate market since 2010.

2. Ambitions

Our development volume has grown 55 times over the past 5 years.

3. Concept

We look at modern architecture as a work of art. An innovative masterpiece. Not only in terms of aesthetics and visual perfection but also in terms of impressive construction quality, human-centered design, and technologies to sustain natural resources.

Dubai is the perfect place to bring our concept to life. This metropolis concentrates on the principles of reasonable, aesthetic, and high-quality urban planning. Dubai gives freedom and comfort, inspiration and energy. Here you can feel the synergy of nature and technology. The past and the future. And only such a truly contemporary city can suffice the contemporary people.

4. Challenge

The future of the world belongs to large high-tech cities. Megacities are already an irreversible global trend. But will these cities be humane and comfortable? Safe and green? Our job is to keep them that way.

5. Purpose

The intelligently and aesthetically built city is inspiring, like nature or art. And we are ready to help modern cities become a space of safety, comfort, and inspiration. For the people. 

6. Principles

Create what is worthy of becoming an object of the contemporary architecture gallery.

7. Benefits

We share Dubai’s strategy to become a city of innovation and a better place to live in 2040 and have chosen the main construction trends for ourselves.

Green building, Energy Efficiency

Technology: IoT solutions

Nature and Naturalness

Individuality

Dubai is a beachfront metropolis with enormous future plans. More precisely, with one specific plan: to become the best city in the world by 2040. It’s ambitious, like everything in Dubai. But it’s absolutely possible. Like everything in Dubai.

In 2021, a new master plan for the city development, Urban Master Plan 2040, was opened to the public. 

So, what is the 2040 plan about, and why should you invest in Dubai property now?

1. The population increased from 3.3 million to 5.8 million people
2. + 400% length of public beaches
3. + 134% of land for hotels and tourist attractions
4. + 25% of areas for healthcare and education facilities
5. 60% of the emirate’s territory will be occupied by nature reserves and green areas
6. 55% of residents will live 800 meters from public transport stops

1. Deira/Bur Dubai

Concept: Historical essence of the city

It is honoring the history of Dubai and preserving its traditions and heritage.

2. Downtown / Business Bay

Concept: Global financial hub

This district will be the international business hub for the economic, financial, and business sectors.

3. Dubai Marina / JBR

Concept: Tourism and entertainment

World point of attraction for tourism, recreation, and hotel business.

4. EXPO 2020

Concept: International portal for events and exhibitions

The city’s economic growth will get a new round: famous exhibitions, world-class events, and excellent logistics services.

5. Dubai Silicon Oasis

Concept: Knowledge and Innovation Center

An international hub that will attract talent and minds from around the world to participate in global development and Dubai’s leadership.

The real estate market has recorded an incredible rise in sales and even set a new record since the recent master plan announcement.

Let’s look into the main results of the Dubai real estate market in the first half of 2022. According to a Dubai Land Department (DLD) report, from January to June 2022, 42,953 real estate transactions worth ~$31 billion were registered.

59% – 25,370 sales of ~$21.68 billion — resale and finished properties

41% – 17,583 sales of ~$9.4 billion — under construction

Total sales increased by 59.9% in quantitative terms and by 88.1% in value terms compared to the first half of 2021:

• the number of transactions for the sale of secondary and newly constructed real estate increased by 47.1%, their value — by 73.2%;

• the number of transactions for the sale of real estate under construction increased by 83.1%, and the cost — by 134.9%.

June 2022 became the absolute record breaker! This hot month has the hottest sales result since 2009.

Top selling areas:

• Business Bay
• Burj Khalifa
• Jumeirah Village Circle
• Dubai Creek Harbour

In June 2022, the price dynamics of the Dubai residential real estate market are also representative.

According to the REIDIN Information Service Residential Property Price Indices (RPPI), which takes into account the average prices for apartments and villas: 

Property For Sale

The sales value index increased by 0.27 points, from 87.28 to 87.55 compared to May 2022. Growth — 0.31%.

Prices have increased by10.12% compared to June 2021.

Rental Property

The rental price index increased by 3.80 points – from 80.39 to 84.19 compared to May 2022. Growth – 2.18%.

Prices have increased by 21.65% compared to June 2021.

In the modern world picture, Dubai holds a top position and deserves it. This city appeared in the desert as a mirage and has become a future spaceport where different races, religions, and cultures intersect. Here, business meets beach holidays, and innovation perfectly coexists with ancient traditions. To be tolerant and productive.

Dubai has the tallest skyscrapers, the largest shopping malls and theme parks, the most luxurious hotels, and the most incredible man-made islands. The whole city seems to be an exhibition of the highest human achievements. Starting from the ski slopes inside the shopping center and ending with the project of robot taxis as part of the city’s transport system.

You can add the EXPO 2020 exhibition with pavilions from 197 countries of the world and the Museum of the Future, which literally takes you to the future years of 2071, to the checklist of technological wonders.

It is no surprise that Dubai has become the world’s top tourist destination, overtaking Paris and New York. Here you can combine a beach holiday at any time of the year with the most amazing entertainment and futuristic sights available to a human being.

Dubai’s multicultural energy and the economic stability of the UAE (the dirham exchange rate has not changed against the dollar since 1997) have made this city a point of attraction to many foreign investments. And real estate has become one of the main areas of capital investment.

1. Safety

Dubai is in the top 10 safest cities in the world for both single professionals and families with children.

2. Law Transparency

The property is easy to buy and register.

A foreigner can acquire full ownership of any real estate in specially designated areas (freeholds), including such popular areas as Dubai Marina, Downtown Dubai, Jumeirah Lakes Tower, and others.

All real estate rights are recorded in the Dubai Land Department, where the owner immediately receives a registration certificate after the transaction.

3. Loyal Tax Policy

Owning and renting a property does not oblige the owner to pay fees within the UAE.

4. Property Prices

Dubai has very competitive property prices for a futuristic metropolis and resort city. For example, the apartment price can start from $2,000 per m2.

5. Flexibility in Property Rights

Real estate can be bought and sold at any stage of readiness.

6. High Return on Investment

Renting a property in Dubai is in high demand among ex-pats coming to live and work in the dream city and tourists visiting for relaxation and vivid impressions.

The return on investment in real estate in Dubai is one of the highest in the world. For example, return on investment (ROI) goes from 8 to 15%, and gross rental income — is about 5.19%.

In Dubai, you can get a significant passive income from renting out — at the level of 7-8% and even higher, especially since, in the UAE, rent is paid for a year in advance.

7. Remote Rent Out

Renting out real estate is possible without coming to the UAE. It can be just enough to arrange property management services.

8. Attractive Mortgages

For non-residents, they range from 2.5 to 5.75%.

9. Cryptocurrency

There is a wide range of offers to buy real estate for cryptocurrency in Dubai.

10. Resident Visa for Real Estate Investment

A 3-year visa is issued to an investor who has spent AED 750,000 (USD 204,000) purchasing real estate in Dubai. Residency opens up many opportunities — from 0% taxes to direct access to local stock markets.