In this economic downturn, something which has been able to maintain its stability is the real estate of the Middle East and, more precisely, Dubai. The property development sector did suffer for a while when the economy bottomed out, however the strength of real estate in Dubai is going to stay this time. Over time Dubai has become the epicenter for real estate.

Until recent years there were restrictions on the sale of Dubai properties to foreigners. However, with the lifting of this restriction a few years ago, the Dubai property market has been extremely dynamic.  There has been a lot of buying and selling of houses for sale in Dubai and growth had been exceptional in the years immediately following the lifting of the restriction. The Dubai government is actively driving diversification of its core industries and shifting its economic base to these fields such as finance, commerce and tourism.

There has been lots of speculation about property prices in Dubai, however major economic indicators have suggested that the growth rate of property should maintain steady growth. Another benefit from buying property in Dubai is 100% freehold ownership. Rental yields from Dubai residential property is presently between 8 and 10%, better than many developed cities around the world.

Dubai remains a strong real estate market. There is something to choose from for every investor, whether as a owner-occupier or owner-investor. Types of properties available range from residential apartments and signature villas, to office and commercial space, and it is a major attractor for international investors. Dubai real estate boasts amazing projects such as The Palm and The World – the world’s largest artificial island clusters, developed with villas, apartment towers and holiday resorts.

Award winning developers the Leria Group launch the fourth generation of their iconic Alcazaba brand at Alcazaba Hills Resort in Estepona. The mixed leisure and residential resort promises to be be one of the most exciting new developments on the Costa del Sol.

The best kept secret in Andalucía is about to be revealed with the launch of the fourth generation of the iconic Alcazaba brand in Estepona this month. Alcazaba Hills Resort – a luxury residential resort – the vision of the Lería Group which has a history of creating premium developments throughout the world, is poised to deliver the same enviable lifestyle as its predecessors while continuing the remarkable success of the Alcazaba brand.

Throughout Southern Andalucía the Alcazaba name is synonymous with the region’s most inspirational resorts. It has been that way for the past 30 years when Jorge Lería began creating award-winning resorts. The first – La Alcazaba – was built in 1984 in Marbella and secured two coveted awards including Best Urbanisation on the Costa del Sol and Best Gardens on the Costa del Sol. Alcazaba Beach Houses followed in 1994 and its successor – Alcazaba Beach which was completed in 2003 won Best Development on the Costa del Sol and Best Community Gardens. In 2007 the urbanizations were awarded The Architectural Heritage Prize for Urbanisations of Environmental Interest – the highest accolade achievable from the Government of Andalucía. This year Lería were named Best Property Agents and Developers at the prestigious Bellevue Awards.

At Alcazaba Hills Resort, which is located at the top of the Arroyo Vaquero valley, 3 kms from Estepona and closely situated to the celebrated towns of Marbella and Sotogrande, the same signature features prevail. A gated community will secure 100 luxury apartments (built in a Mediterranean architectural style) set in exquisite tropical gardens of exotic plants, streams and pathways. It is these trademark ingredients together with the developer’s vision of the future that will establish Alcazaba Hills Resort as one of the best private residential resorts in Europe.

Each of the 2 and 3 bedroom and penthouse apartments are front line with views over the gardens and Mediterranean. Lería´s quality build includes spacious terraces, marble floors, air conditioning, beautifully equipped kitchens with granite surfaces, double glazing, intercom door entry systems, Internet and satellite TV connection, underground parking and storage.

Owners at Alcazaba Hills Resort will enjoy preferential rates at nearby Estepona Golf Club. When the resort is completed, the owners will also be provided with use of the Beach Club and a shuttle service to both facilities, as well as to Estepona Port with its shops, restaurants, bars and ever popular Sunday market. However, in due course Alcazaba Hills Resort will also benefit from a 155 room hotel, spa and wellness centre, 15 swimming pools with hydro massage, cascade and rainforest showers, restaurant, children’s playground and unrivalled sports amenities on site.

Director Juan Pablo Lería Valero said, “Despite the challenges presented by the global downturn – owner trepidation being the key issue – we hope that our brand and track record as developers will give confidence to prospective purchasers. Buyers today are more sophisticated than ever before; their prospective purchase must measure up to international competition, offer value for money, capital appreciation and rental yield and afford after sales management solutions. We have addressed all of these issues and as a result have developed robust ownership purchase options, put finance in place and even installed a management company on site.”

A community of 700 owners has quietly enjoyed the Alcazaba experience for the last 25 years, but now, with the excitement surrounding the opening of Alcazaba Hills Resort, the secret is out. For further information contact Melanie Hickey at melanie@mavad.co.uk +34 626 836 870 or Caroline Reid at caroline@mavad.co.uk + 44 07764 184421.www.alcazabahills.com

News submitted by Melanie Hickey, International Golf & Resort Management

It’s a brave man who takes on a building project in rural France. Tradesmen pick their own working hours, neighbouring curtains constantly twitch, builders’ merchants close for long lazy lunches and materials delivered can bear little resemblance to those ordered as the details get lost in translation. Best leave it to the experts.

With six years developing in Burgundy under their belt, husband and wife team Su and David Bishop of Arena Park France have enough ingredients for a feature length movie on the subject – a black comedy of course. Specialising in high quality conversions in the famous name wine villages of the Côte d’Or, Arena Park France is putting itself in the firing line as it brings temporary disruption and modern living to centuries-long peace and tradition. However, thanks to some silky diplomacy and a close eye on the rule book, Su and David have had nothing but positive Anglo-French relations to date plus a growing band of happy customers.

Su Bishop, an interior designer from London, explains, “When my husband, a carpenter by trade, and I moved to France back in 2003 we made the assumption that we could transport our skills to Burgundy and apply the basic principles as we would ‘at home’. Of course we soon discovered that there were actually a hundred ways of doing the same thing and the option which we knew and worked the best ‘back home’ was actually the worst possible one to apply here. Our most useful skills by far are now an even temper and a good sense of humour. In fact they’re the only skills that comfortably translate into any language.”

Despite having a good grasp of French, language has been the source of plenty of amusement for the Bishops. Even the trusty building trade dictionaries haven’t prevented builders’ merchants eyeing them suspiciously pondering which planet they’ve just landed from. Su recalls a time when, “We thought we’d ordered one sheet of copper measuring 1 metre by 30 centimetres but ended up with two 30 metre long rolls of the stuff.” The sense of humour comes in handy here. Paint, a most innocuous item, has also been an enigma for Su and David. For some unexplained reason it costs five times as much in France as it does in the UK and is about as many times as thin. Coat after coat is required for good coverage. Bizarre.

The French adopt a tricky daily timetable which Arena Park France has learned to work around. Pretty much everything in Burgundy closes between 12 and 2pm for lunch and by 11.45am they’re gearing up to pulling down those shutters, so it pays to be organized and stock up early. This two hour window allows for all workers to go home, eat a large meal, snooze it off and then return to work fuelled for the afternoon. Bonne idée.

Arena Park France has also discovered that certain innocent-looking little old ladies can be deceptively shrewd. Su recalls, “One lady arrived at one of our sites accompanied by the Mayor as she thought that a new window was larger than shown on the plans and therefore contravening planning permission. She was wrong but it’s strange to know you’re being ‘watched’. These wily pensioners are also good at extracting a few favours on the pretence that our building work is inconveniencing them. So far we’ve cleaned a loft that had gathered dirt for 40 years and contributed to a neighbour’s winter heating bill whilst our roof was off next door. Whilst arguably we were liable for neither, it pays dividends for us to be seen as fair and reasonable and really we receive very little hassle considering the disturbance we cause.”

“It’s also fun to reverse the tables and play the French at their own game. Working on a large restoration project in the middle of Pommard, a very famous architecturally sensitive wine village, we discovered that Arena Park France was the talk of the town in the bar on a Friday night. Curiosity was rife but the villagers were too scared to ask for a nose. We arranged a grand tour for two neighbours, old ladies of course, who turned up in Sunday best and were honoured to receive the invite. Inevitably they proceeded to hold court in the village with the insider gossip – it probably kept them going for months…”

Arena Park France is currently involved in renovation projects across five villages in the Burgundy region. Prices start from 220,000 euros for a two bedroom cottage within a stone barn in Demigny and rise to 520,000 euros for a three en-suite bedroom home in Meursault.

News submitted by Sarah Drane, Arena Park

Cortijo del Mar is a new residential complex in the heart of the Costa del Sol on the New Golden Mile just minutes from San Pedro, Puerto Banus and Estepona.

Located in an elevated position, Cortijo del Mar is a few minutes away from the beach and is ideally located around several golf courses, one right on the doorstep offer excellent Golf, Tennis, Pool and Spa facilities. Cortijo del Mar is a secure gated complex with hi-tech video entry and intelligent home systems available as standard in all of the properties.

These systems allow you to control music and video throughout your home, climate control, open and closing of the shutters all from a convenient control panel. Best of all, you can control your home remotely, you can even turn on your air con on the way from the airport meaning you arrive in complete comfort.

• Prices from €282,000
• 10% Launch Discount
• All Properties are Fully Furnished
• 80% Finance Available
• Deal Directly with the developer

Investors concerned about the notorious Cyprus property title deeds issue will be interested to hear that new legislation has been introduced in a bid to clear up years of problems – however, before you pop the champagne corks – the new rules will only apply to new purchases, meaning that vast numbers of owners will still be without legal documentation…

Thousands of overseas buyers have chased cheap property deals in Cyprus over the last five years, but buyer confidence has taken a knock after some owners found developers were hanging on to title deeds for their property in Cyprus.

As so many of the property owners in Cyprus are foreigners, this new legislation surrounding title deeds was crucial to their peace of mind about the ownership of their homes.

Up to 100,000 buyers – both locals and foreigners – have paid for their properties but have no legal documents to prove that they own them – which means that they are trapped as they are unable to sell them on without the documents.

But now, much to buyers’ distress, the Cypriot Government has seemingly reneged on a promise to sort out the mess and ‘help everyone,’ as it confirmed that the new law will not effect old transactions.

This means that buyers remain at the mercy of the developer who sold the property to them and the banks that hold their title deeds as collateral for loans.

The Cyprus Property Action Group, which is a collection of British nationals who have bought homes on the island and are campaigning for better protection for foreign property owners, are furious.

Back in February of this year, British Foreign Secretary David Miliband revealed that the British High Commissioner to Cyprus had ‘received assurances’ from the Cypriot Interior Ministry that they would introduce a bill to address the situation soon. At that point there was no mention of the new law relating only to future transactions, thus the buyers assumed the rules would help all of them.

Tasos Coucounis of law firm Andreas Coucounis & Co, said those denied deeds could file an action in court.

Cyprus Property Magazine reported that Mr Coucounis advised if vendors still failed to issue a deed after a successful action, buyers can “ask for Specific Performance of his sale contract from the court, in which case a Court Order for Specific Performance can be issued fast and presented at the Land Registry for transfer of the Title Deed without the vendor’s signature or participation”.

Now, they face a long court battle to get the rights to their title deeds and months more worry in the meantime.

News submitted by Dan Johnson, The Move Channel

Land offers the safe familiarity of an old friend in times of economic downturn. It’s a tangible asset and one which can never be taken away. As supply diminishes and demand does the opposite, land values almost always rise and at a much faster pace than property. So why not opt for a headache-free, 45,000 USD investment into a plot of land in the Dominican Republic? And enjoy the added protection of a guaranteed buy-back in two years at 167% of asking price.

The lush paradise of the Dominican Republic basks in 26ºC all-year round and provides a colourful tapestry of cultures and landscapes which keeps even the most adventurous traveller returning for more. The eastern coastline boasts pristine white beaches, the longest coral reef on the island and more than a dozen golf courses designed by a who’s who of golf from Dye to Faldo, Gancedo to Nicklaus. This is the setting for Punta Cana, touted as the Dominican Republic’s most significant tourist resort, and known as the ‘coconut coast’ for its 30 miles of swaying palms – palms which offer their name to the area’s newest first-rate residential development.

Swaying Palms offers a wealth of living and leisure options from tennis courts and an oversized 850m² swimming pool to restaurants and supervised children’s play. But its real investment appeal lies in the plots. Fully serviced with utilities, the 500m² plots have permission for a 200m² footprint enabling a two-storey villa of up to 400m². Priced at just 90 USD/m² these are way below market value, up to 30%, with other plots in Punta Cana fetching around $300 USD/m². The land is freehold with full title deed and all you have to decide is whether to build or take advantage of a guaranteed buy-back.

Managing Director of GEM Estates, Andy Welland, comments, “As the well-known phrase goes ‘land is purchased by the acre but sold by the square foot’ and the disparity between entry prices and exit prices can be quite significant. Due to the sought-after location of Punta Cana and his below market value starting price, the developer at Swaying Palms can comfortably guarantee a buy-back at $75,150 USD in two years giving a fabulous return of 167%. What’s more, investors can choose whether to pay in either four quarterly or 12 monthly instalments after putting down the initial 20% deposit, all of them interest-free. This kind of safe secure investment doesn’t come up too often.”

Plot owners at Swaying Palms will have full access to all the facilities within this gated five-star community including the private beach. They can also take membership of the Owners Benefits Club which, amongst others, secures access to five of the top golf courses in the area and discounts 15% off food and drink at the beach club. Swaying Palms also has an on-site rental and administration office, wi-fi and satellite television.

Swaying Palms is less than 20 minutes’ drive from Punta Cana’s International Airport serving London, Birmingham, Glasgow and Manchester with direct flights of around eight hours in length.

News submitted by Sarah Drane, GEM Estates

As soon as the Budget announced a shock 50% rate of income tax for high earners, the phones rang off the hook in the Sales Department of Gibraltar’s Ocean Village. British entrepreneurs are eyeing up a tactical emigration and the message from the Rock is very clear – taxes are not going up, they’re going down.

Brian Stevendale, Sales & Marketing Director of Ocean Village, Gibraltar’s leading mixed-use marina development, comments, “Since last Wednesday’s Budget it would appear that a mass UK exodus is on the cards with top-earners affronted by the 50% rate and myriad of stealth taxes. We’re working overtime to keep up with enquiries for residential and commercial space within the Ocean Village complex.”

Brian continues, “Life traders contacted me within an hour of the Budget telling me they wanted to relocate to Gibraltar. We already have the highest concentration other than London in this sector. I had our architects draw up plans for offices, the client flew over from London on Friday and we closed the deal there and then. This is simply the tip of the iceberg.”

This Union Jack-flying territory 7km² in size and 28,000 in population has the familiarity of Marks & Spencer’s, British pubs and the busiest store in the entire Morrison’s chain – but the welcome addition of year-round sunshine as well as fantastic golf and beaches across the border in Spain. And, with Gibraltar law similar to that of the UK, the system is both efficient and fast and holds few surprises. There is no capital gains tax, no VAT, no inheritance tax, no wealth tax, no exchange control costs and with sterling as a currency, the near pound-euro parity problem doesn’t come into play.

Whilst some feel that the UK is sending out a message that entrepreneurs are not welcome, Gibraltar actively encourages them. The Government is keen to focus on tax breaks rather than tax hikes and its economy is thriving as a result. As the UK faces a sharp 3.5% contraction in 2009, Gibraltar has a predicted growth in GDP of 7% and looks to thriving industry rather than tough taxation to keep its balance sheet healthy.

Brian adds, “The European Court of Justice granted Gibraltar self-determination on company tax in December last year allowing the Government to target around 10% or less company tax – the lowest or equal lowest in the European Union. Meanwhile income tax for the wealthy is between £18,000 and £21,000 a year – on all global income. UK-based financial adviser Peter Hargreaves has been widely quoted in the press as paying £13 million in tax last year and angry at the prospect of an extra £500,000 next. Had he been part of the Gibraltar tax system his bill would be down by almost £13 million.”

Brian concludes, “Wealthy businessmen can apply to the Gibraltar Government for low rate personal tax status and providing they can prove minimum liquid assets and have a property on the Rock it’s fairly straightforward. Meanwhile with a UK or EU passport and the right advice you can set up a business in an hour and start enjoying the associated fiscal benefits. Gibraltar could quite easily become the new Monaco but with reassuring links to the UK and far less daunting property prices.”

With an economy already buoyed by booming finance and online gaming industries, interest from the latter is set to explode as the UK Government also chose to increase tax on poker profits from 15% to 50%. Companies such as Gala, William Hill, Ladbrokes, PartyGaming and Betfred are rushing through expansion plans for Gibraltar. Employees earning over £100,000 and working for these types of companies that are based in Gibraltar but benefit outside of the Rock can also take advantage of a flat £15,000 annual income tax. No wonder Ocean Village is overwhelmed by requests for homes and offices. Would the last millionaire to leave Britain please turn the lights out…

About Ocean Village – Ocean Village is a mixed-use waterfront development of four residential plazas, office space, a marina and retail and leisure units including a flagship Gala Casino complex. The company has just launched Little Venice Waterside Mansions and Villas – a range of 30 individually designed homes built in the heart of the marina surrounded by water. Each of the three storey prestigious homes enjoys its own swimming pool, banqueting terrace and private mooring for the superyacht. Prices from £800,000 to £6million. Royal Ocean Business Plaza offers 10,000m² of high-end offices alongside 600 secure car parking spaces. This unique facility in a superb location makes for the perfect recipe for doing business in the 21st century.

News submitted by Sarah Drane, Oceanvillage.gi

A pioneer for five-star resorts in Turkey, properties at Turquoise were unsurprisingly quick to sell-out. Now complete and fully-functioning as a successful holiday haven, GEM Estates is able to pass on a crazy 30% discount on the last remaining apartments. Prices from £66,000 have now been slashed to just £49,693.

Turquoise makes perfect sense for both investment and lifestyle buyers. Combining an idyllic beachfront location in the peninsula resort of Bodrum on the Aegean Sea, Turquoise also has a highly professional rental system with contracts to leading tour operators and online booking agencies. Facilities are abundant from an aqua park to a 9-hole golf course thus pitching anticipated rental yields as high as 8 or 9% whilst generous personal use is also a given. Turquoise is a safe bet in uncertain times.

Turkey’s tourist industry is breaking records year-on-year leaping from 9.75 million visitors in 1998 to 30.9 million a decade later in 2008. Bodrum, the longest established and most elegant of the Turkish coastal resorts, takes a large slice of these guests. A perennial favourite with yachties, beach lovers and Istanbul dwellers, there is now a new set joining the fray – golfers – and Turquoise is without compare in this department.

Bodrum’s Vita Park Golf Resort is the first to arrive on the Aegean coastline and is within just five minutes of Turquoise’s doorstep. Vita Park is prepared to PGA standards and comprises two 18-hole courses (Milas and Halikarnas, both par 71), a driving range, golf academy headed up by ‘the swing doctor’ Mike Adams, tennis courts, swimming pools and a 2,500m² clubhouse with panoramic views across the fairways, the pines of the Natural Park and down to Tuzla Bay dotted with graceful pink flamingos. Meanwhile Turquoise boasts its own 9-hole course within the resort’s confines. Expect golfers to rank highly amongst Turquoise’s holiday rental clientele.

Built by one of Turkey’s leading developers, in business since 1948, Turquoise offers good quality, excellent design and an unparalleled aftersales service including rental management complete with maid service and 24-hour reception. Set just 15 minutes from Bodrum’s International Airport and a unique cable-car ride to the resort’s private beach with bar and an array of watersports, Turquoise is all-encompassing.

With a range of homes from luxury apartments to villas with private gardens, all properties boast Tuzla Lake or mountain views and are set in an environmentally protected area. On-site facilities range from large communal pools including a heated indoor pool, an aqua park, fitness centre, Spa, that 9-hole short golf course, open air cinema and tennis, volley and basketball courts. It doesn’t stop there, Turquoise has everything you might expect from a local town, including bars, restaurants, café, supermarket, boutiques, dry cleaners and a beauticians. Should you have the urge to explore the neighbourhood, a regular shuttle service will take you from Turquoise to the centre of Bodrum.

To take advantage of the 30% discount with two bedroom apartments now priced from just £49,693 (which is fixed in sterling to avoid any currency fluctuations) contact GEM Established immediately. Furniture packs are also available priced from £4,985.

News submitted by Sarah Drane, GEM Established

When Christopher Columbus, the Dominican Republic’s first tourist, stepped ashore over 500 year ago, he marvelled at the spectacular natural beauty of its mountainous peaks, verdant valleys, spectacular waterfalls and breathtaking palm-fringed beaches. With an average temperature of 28 degrees, more than 300 sun-filled days every year and warm, clear, turquoise seas make this the perfect place to just lay back and relax on the beach or enjoy the vast array of watersports available.

Las Canas Beach Resort is located on the stunning north coast of the Dominican Republic, 10 minutes from Cabarete and just 20 minutes from the Gregorio Luperon International Airport at Puerto Plata.

• Prices from just £85,000
• Only £1000 to pay until completion
• 100% finance available
• 10% rental guarantee
• Deal directly with the developer

The fabulous five star resort of Saidia occupies six kilometers of glorious golden sandy beaches on Morocco’s Mediterranean Coast. This flagship tourism project of the Moroccan Government has been in the planning since 2001 and has attracted a host of blue chip corporations and property investors eager to invest in what will undoubtedly be the next “hottest” destination for the discerning holidaymaker.

The Blue Pearl Golf Resort is situated in Phase Three of the resort close to the resort’s impressive Olympic standard sports facilities and the David Lloyd Tennis Academy. Phase Three of Saidia is mainly comprised of luxury villa projects and these apartments represent fantastic value in the resort’s most exclusive area.

• Prices from €85,000
• 10% Launch Discount
• All Properties are Fully Furnished
• 8% Guaranteed Rental Return
• Located Frontline Golf