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Real Estate News from Dubai


Landmark Properties: Leasing to End-users Expected to Grow Amid Delivery of Completed Units
 
Landmark Advisory expects Dubai to weather economic downturn without experiencing over-supply problems
 

Dubai, UAE - November 3rd, 2008: Landmark Properties, one of the Middle East's leading real estate firms, announced today that its analytics division, Landmark Advisory, expects leasing activity in Dubai to accelerate as sellers adapt to shifting demand patterns that signal the transition of Dubai's real estate scene to an end-user driven buyers' market.

According to Cliff Kelaita, Chairman & CEO of Landmark Properties, Dubai's real estate market is resilient and will withstand the current economic turmoil without experiencing the over-supply problems alluded to in media reports.

Al-Romaihi added, "I am confident that our partnership with Landmark Properties will further enhance the booming property market in Qatar and we look forward to a successful business operation."

Analysts from Landmark Advisory noted that despite dramatic growth in 2008, Dubai's property prices are still below those of comparable markets in cities like New York, London, and Hong Kong.

Kelaita concluded that "even if some projects get delayed or restructured in the short term as developers adapt to current challenges, we are optimistic about the market's strength and growth potential."

In October, Landmark Advisory released an inaugural report that assessed the impact of the global financial crisis on Dubai's property market. The report is available on their website: http://www.landmark-advisory.com

Landmark Advisory is the newly launched research and consultancy division of Landmark Properties. Its mission is to provide high-resolution market intelligence and cutting-edge consulting services that cover the Middle East and North Africa (MENA). This commitment to research excellence will enhance the retail operations at Landmark Properties with innovative analytical products backed by 'best-in-class' due-diligence.



For further information, kindly contact:

Landmark Properties
Name: Yasmeen Seif
Email: yasmeen@landmark-dubai.com
Telephone: +971-50-9561516


Renno Communications Group
Name: Samer Renno
Email: samer@rennocg.com
Telephone: +971-4-4278687

About Landmark Properties
Landmark Properties (LM) is jointly owned by a unique and dynamic group of experienced entrepreneurs with diverse backgrounds in investment banking, real estate development, marketing and Media Production. The company recently formed a strategic alliance with Amlak Finance.

Landmark Properties was created with one goal in mind: to strive to present a standard of real estate services yet to be offered in Dubai through our unsurpassed customer service and state of the art technology. LM boasts a multi-national group of Sales Executives, experienced within their specific fields, providing concentrated attention to individual sectors of the business.

Landmark Properties offer a professional, efficient service, dealing with all aspects of real estate and catering to the needs of both the individual and corporate client, specializing in:

  • Residential Leasing
  • Commercial leasing
  • Freehold Property Sales
  • Local(GCC) Property Sales
  • Exclusive Project Marketing
  • Investments
  • Property Management
  • Consultation and Advisory

About Landmark Advisory
Established in September 2006, Landmark Advisory received a mandate from Landmark Properties to provide best-in-class advisory services in the areas of research, development and planning. Lead by Robert Lovett, the team identifies strategic investment and partnership opportunities throughout the region and around the world.

About Renno Communications Group
Renno Communications Group (Renno CG) is a specialized corporate communications consulting agency, with offices in Dubai, Cairo, Amman and Beirut, as well as field coordinators in markets such as Bahrain, Qatar, KSA, Kuwait, Iraq, Syria and Turkey. Renno CG is committed to delivering outstanding value and support to its clients by increasing their brand exposure throughout the Middle East. As a boutique Agency, Renno CG offers 110% commitment to client servicing; great attention to fine details, as well as commitment towards advancing the communications discipline in the Arab World.


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