Dubai

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Property Connect has entered into a global referral and finders' agreement with Damac Properties, one of the largest private developers in the UAE.
Under the agreement, the ASX-listed Property Connect will promote and sell Damac’s portfolio of developments in the Gulf Cooperation Council countries (GCC) and UK on the company’s Live Offer auction platform.
Property Connect recently entered into an <a href="https://www.urban.com.au/news/85617-property-connect-to-market-liveoffer-in-dubai" target="_blank">agreement to launch LiveOffer</a> in the GCC - Dubai and surrounding areas.
Property Connect's LiveOffer™ technology allows potential tenants to make an online offer on a rental property, thus creating a fair market value for properties.
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Darren Patterson, CEO of Property Connect said it is an "amazing opportunity" for Property Connect.
"Dubai is hosting the World Expo in 2020, and the level of investment in infrastructure and real estate development in the region is unprecedented. 
"This presents a unique moment in the property cycle for investors and real estate developers, and Property Connect is very fortunate to be the only Australian company to be engaged by Damac. 
"We are very excited to be working with Damac and the opportunity to utilise the Live Offer auction platform in such a dynamic environment.” 
Damac is one of the largest private developers in the UAE and has established relationships with global leading luxury brands including Fendi, Bugatti, Paramount Studios, Trump, Cavalli, Versace and Tiger Woods. 
Damac’s properties range from investment grade studios to luxury apartments and villas within entire communities providing services ranging from shopping malls, schools, medical centres and sporting facilities such a golf resort living. Damac also provides market leading financing, instalment plans and rental yield guarantees. 
The agreement is for an initial 12 month term.
 
 
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Property Connect partners with one of UAE's largest private developers

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Property Connect has entered into an agreement with Pipeline Marketing Management to market the LiveOffer platform in the GCC – Dubai and surrounding countries.
Property Connect's LiveOffer™ technology allows potential tenants to make an online offer on a rental property, thus creating a fair market value for properties.
It keeps landlords and perspective tenants updated on the market appraisal of the rental offering.
The GCC licence will allow Property Connect to distribute LiveOffer Rental and Auction products in a cost effective manner into a market renowned to be notoriously difficult to rent properties efficiently.
The market has a highly mobile international sales and tenancy base.
The LiveOffer platform is ideally suited to high density markets such as Dubai and other GCC countries, whilst also being able to integrate with emerging Blockchain solutions, Darren Patterson, CEO of Property Connect said.
The company continues to also discuss similar strategic partnerships in Singapore, Hong Kong and Malaysia.
Property Connect noted the rental and sales markets in Dubai and the surrounding GCC countries had softened in the past 12 months.
It suggests the transparency and efficiency provided by the LiveOffer platform can provide significant cost advantages to these markets.
The initial two year partnership can be extended. The agreement is subject of satisfaction of several conditions, including obtaining all local regulatory approvals, due diligence and execution of formal documentation.
Pipeline is a business-to-business sales and business development organisation established by leading sales specialists, with over 50 years combined experience operating in the GCC.
They have a track record of market expansion and sales development for several leading enterprise companies, and deep local relationships.
As a term of the GCC Licence, the parties will explore additional opportunities with leading real estate agencies, developers, property portals, property investors and sovereign wealth funds in the GCC.
The parties believe there are opportunities in the GCC for the commercialisation of additional products developed by Property Connect.
The company has obtained preliminary legal advice confirming the LiveOffer platform can operate in the GCC, subject to obtaining all local regulatory approvals.
In addition to this, the Dubai Land Department has committed to becoming the world’s first end to end Real Estate Blockchain transaction marketplace.
This is aligned with the company’s objectives of simplifying and making real estate transactions more transparent and cost effective. The company is exploring direct involvement in this initiative as well as facilitating online property auctions with local developers and the government.
Darren Patterson said the licence was "the perfect way for Property Connect to efficiently scale its sales and distribution of the LiveOffer platform," whilst also establishing a wider investor base and support for future products in the company’s development pipeline.
"We anticipate this to be the first of several such licences for the LiveOffer platform internationally and domestically which will create material shareholder value.”
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Property Connect to market LiveOffer rental and sales platform in Dubai

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Middle-East based HLG Contracting, in which CIMIC group has a 45 percent investment, said it had won a contract for a development project in Dubai with revenue of $224 million.
The contract involves construction of expo village parcels 10 and 11 residential towers by Dubai World Trade Centre (DWTC), the ASX release said.
HLG said it will be responsible for the construction of five16‐storey towers. 
Three of the towers would be connected through a mutual three‐storey podium, while the other two towers would also be co‐joined through a shared three‐storey podium. 
Works include the concrete frames, masonry, facades, fit‐out, external works, and provisional sums for the mechanical, electrical and plumbing, wardrobes, kitchen, timber doors, lifts and façade cleaning system. 
The development has a total built‐up area of 155,000 sqm. 
Construction is expected to begin in July 2017, and is due to be completed by June 2019 ahead of Expo 2020 Dubai, which opens in October 2020. 
ASX-listed CIMIC is headquartered in Sydney and is the world’s largest contract miner.
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CIMIC-backed HLG Contracting wins $224 million Dubai construction project 

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Raine &amp; Horne has launched a holiday rental business in Dubai led by co-principals Shine Sunny and Sanjay Chimnani.
Angus Raine, executive chairman, Raine &amp; Horne said between Sanjay and Shine, Raine &amp; Horne Holiday Homes has real estate, hospitality, marketing and PR experience.
"This is an exciting venture that will support the financial goals of owners in Dubai and the short-stay needs of leisure and business visitors to the emirate,” he said 
“Australia is an important market for Raine &amp; Horne Holiday Homes. Qantas and Emirates fly over 90 times a week from Dubai to Australia. 
“Dubai is a perfect stopover from Australia to destinations across Europe. Therefore, we will be tapping into the hundreds of offices in our Australian network to promote the holiday lettings available in the emirate through Raine &amp; Horne Holiday Homes.
Ms Shine said Raine &amp; Horne Holiday Homes will seek to collaborate with the likes of Austrade and Victoria Invest, as we are the only Australian company in Dubai offering vacation rentals.
“We will also be aggressively targeting the Middle East and North Africa (MENA) and the Indian sub-continent markets,” she said.
“We are specialising in the marketing and management of one and two bed apartments, and we already have a number of luxurious apartments available to let.
“Depending on the location, views and seasonality, a one-bed apartment in Downtown Dubai with Burj views, are priced at AED 950 ($A339) a night.
“All the properties showcased in our portfolio are conveniently located in Dubai’s popular locations such as Palm Jumeirah, Dubai Marina, Jumeirah Beach Residences, DIFC and Downtown Dubai, and are meticulously presented and fully self-contained for our guests’ convenience.
“We only choose holiday properties that are close to public transport and have amenities such as supermarkets, pharmacies and tourist attractions nearby.
“We have a dedicated customer service manager, personal greet and meet services and 24x7 accessibility should guests need us. This gold standard customer experience, focusing on quality and service, will set Raine &amp; Horne Holidays apart.
“The holiday letting business combines our real estate and hospitality strengths, therefore it is a natural progression for expanding the business.
“We are harnessing the power global software solutions such as Lodgify for reservations, Outswitch for revenue management and innovative marketing techniques harnessing the promotional powers of social media platforms such as Facebook and Instagram to focus on increasing property returns.
“Owners have the ability to check bookings online, rates and tariffs, and to receive clear and concise monthly statements making the entire process transparent and effective."
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Raine and Horne targets Dubai holiday letting market

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Dubai will host the 2018 World Real Estate Congress under the theme "Future of Cities".
The event, the 69th, is expected to attract real estate professionals from over 60 countries.
This year’s World Real Estate Congress was held in Panama City, Panama from 21-26 May under the theme ‘Connecting Development for a Better World’. The conference covered affordable housing, real estate opportunities through globalisation, smart cities and international property ethics.
Dubai Business Events (DBE)  in partnership with the Dubai Real Estate Institute (DREI) are hosting the event.
HE Sultan Butti Bin Mejren, director general of Dubai Land Department said the fact that the Emirate has been chosen as the first city in the Middle East to host this event demonstrates how Dubai has emerged as the pre-eminent real estatehub for the region. 
“This World Real Estate Congress 2018 will strengthen Dubai’s economy through attracting business and leisure visitors, and inward investment into the emirate not only from the region, but from across the world, further building towards a continued maturation of the Dubai property market," he said. 
"Today’s announcement also bolsters the Dubai Plan 2021, which aims to build a smart and sustainable city with strong infrastructure capable of supporting economic and social life and contributing to the Emirate’s future growth.” 
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