November 2016

ISSUE 2 _____________________

DRIVEN PROPERTIES WE KNOW YOUR NEIGHBORHOOD

ULTRA LUXURY HOME Exclusive look into Tommy Hilfiger’s New York penthouse in The Plaza Hotel PG.6

STATE OF THE MARKET PG.4

SUSTAINABILITY IN DUBAI PG.16 EXPANDING HORIZONS Interview with the Driven franchisee and Managing Director PG.22

Letter from the Editor With the new office came new inspiration! Keeping up with our efforts to give our readers engrossing and informative articles about the Dubai real estate market, this issue contains articles that focus on the performance of the property market in Q2 2016, specific community reports from our area specialists, and our market predictions. Towards the beginning of the issue, our Managing Director Abdullah Alajaji shares his personal insight on the development of the UAE market as well as the current conditions. Our revealing report on current market prices for apartment and villa communities was created using data provided by two of the leading researchers in the property market, Property Monitor and REIDIN. The beginning of 2016 saw our strategic partnerships with international property agencies including Corcoran Group in New York and Marc Foujouls in Paris, which has allowed us to introduce our clients to some of the best properties across the globe. Some of these handpicked properties from global cities can be found in this issue, with one of them being a penthouse in Plaza Hotel owned by renowned fashion designer Tommy Hilfiger. We have also featured a full selection of available residential and commercial properties in Dubai towards the end of the magazine. I would like to thank everyone that contributed to this issue. I hope you enjoy the read and that this helps you find a new perspective on the real estate market.

Fatma Hashim

Head Writer’s Notes While conducting the research for this issue of the magazine, we were amazed by the interesting shifts that the property market is currently going through. In essence, the overarching theme of this issue is change: the property market is beginning to mature, countless affordable projects are entering the market, and investor behavior is slowly shifting. We wanted to cover a range of topics that were important to us, such data on changes in the residential market in the first half of 2016, the evolution of Dubai into a sustainable city, and our work environment at Driven Properties. One of my pieces, “Culture is Built, Not Bought”, gives you a glimpse into how we’ve developed a work environment that values innovation, individuality, and development. I hope all our readers find our reports, area guides, and editorial pieces as informative and enjoyable as it was for us to create them.

Hibo Bile

EDITORIAL Head Office: P.O. Box 500030, Office 204, Bldg 13, Bay Square, Business Bay, Dubai, UAE Branch Offices: Green Community, GK17, The Market, DIP, Dubai, UAE Al Anoud Tower, Office 1703, King Fahad Street, Riyadh 11486, KSA www.drivenproperties.ae

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November 2016 Issue

Fatma Hashim Marketing Director Hibo Bile Content Creator Christian Mercado Creative Designer Adam Tubat Photographer Wendyl Jhon Sanchez Photographer

Contents

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18

State of the market Insight from Driven’s MD Abdullah Alajaji

Sustainability Look into Dubai’s recent shift to eco-friendly design and initiatives

08

24

Ultra Luxury Home Inside Tommy Hilfiger’s penthouse in the Plaza Hotel

EXPANDING HORIZONS Interview with Geraldine Peyraud and Abdullah Alajaji

16

30

DANIA’S PICK Collaboration between Driven Interiors and the Bowery Company

BUILDING A CULTURE The benefits of a healthy corporate culture

Women at

WORK

FATMA HASHIM

32

44

City Walk A guide to an exclusive project

Driven Holiday Homes How Driven Holiday Homes disrupted the rentals sector

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60

Women at work Fatma Hashim reveals how we’ve overcome the challenges that working mothers face

40

LIFE AT DRIVEN Corporate activities at Driven Properties

Exclusive Properties Listings of Driven’s exclusive homes November 2016 Issue

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November 2016 Issue

STATE OF THE MARKET It is not long ago that people were lucky enough to buy a property during an off-plan project launch and sell them minutes later, making 100% profit on their investment. The trick was very simple: buy a property, pay the 10% down payment to the developer, and after the launch, sell it at a 10% premium to the purchase price and make a staggering 100% gain. Fortunately, those days are over. Needless to say, 2013 was a record year, with Dubai property being the best performing market globally. The bonanzza and subsequent market changes we witnessed in that year taught speculators how markets really behave, and that irrational exuberance tends to be temporary at best. It was by no means a bubble. There were fundamental factors contributing to the out performance of the Dubai market compared to its global peers, and chief among those was the Arab Spring and the geopolitical uncertainty in the region. These incidences handed Dubai the white flag as the safe haven of the Middle East and attracted hundreds of billions in investment. Since then, the market shifted from a speculator-driven market, to an end user-driven market. Savvy, affluent investors have since entered the market, increasing the buy-to-let transactions and pushing the market into the direction it is currently headed in. The second quarter of 2016 also witnessed a similar type of activity. The reality is that demand for ready property is still very strong and we have seen financial institutions looking to benefit from higher rental returns. This is evident as rental rates effectively have not dropped compared to the substantial drop of nearly 15 to 20% in sale prices over the period of Q4 2014 to Q1 2016. We have also seen a surge in investor activity over the first half of the year. One activity that has been the flavor of the year so far is the “holiday homes” market, or short-term lets. A large number of investors are now electing to buy property and experimenting with the short-term rental market. After seeing the tremendous value in that space, nearly half of the buyto-let transactions Driven has witnessed are now converting to holiday homes. This compares to 20% during the first quarter of 2015, and nearly none in the first quarter of 2014. The growth in this segment has been phenomenal, and this sector will continue to thrive because of the upside associated with it. The reality is that the Dubai market was previously driven by sentiment, however it is now changing and economic fundamentals are driving the growth and sustainability of the property market. The decline in oil prices had an adverse effect on this attitude, yet the fundamentals of the Dubai economy are still intact, with trade, tourism, and transport (The 3 Ts) pillars of its economy. Property prices have also traditionally followed the equity market, and this has also changed recently, whereby the correlation is no longer positive and evidence of long-term decoupling is in place. Another market reality is that the ever-evolving technology is at the heart of doing business. We continuously change our business model at Driven and are always looking to utilize disruptive technologies and use them to our advantage. We look at threats, and convert them into opportunities. Driven Properties is seeking to become a leader in disruptive technologies and innovative tools that can change not only the way we do business, but the industry as a whole. Due to the number of fragmented players in this fiercely competitive market place, this industry is ripe for consolidation because there are no barriers to entry or economic moats. You need to innovate, consolidate, or die.

Abdullah Alajaji

Managing Director of Driven Properties

Hailing from Saudi Arabia, Abdullah Alajaji has extensive experience in private equity, real estate development, property management, and brokerage. He holds a Bachelor of Science degree in Computer Engineering and Economics from the Pennsylvania State University and an MBA from London Business School.

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ULTRA LUXURY

HOME

Inside Tommy Hilfiger’s penthouse in the Plaza Hotel

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Eloise was the protagonist of a famous series of children’s books about a smart young girl living on the top floor of the Plaza Hotel with her nanny and pet dog. However, she wasn’t the only famous face to take up residence in

Manhattan’s landmark hotel. Tommy Hilfiger, the fashion designer behind the namesake brand, owns the palatial

Dome penthouse on the 18th and 19th floors of the hotel. Overlooking 5th Avenue and the lush Central Park, this

opulent apartment spreads over 5,655 square feet, offering four expansive bedroom and four and a half bathrooms.

With each room featuring a unique design, the apartment also boasts a spiral staircase, bar, library, private terrace,

breakfast nook, and walk-in closets. If this wasn’t luxurious

enough, the penthouse residents also have full access to the services and facilities of the Plaza Hotel.

Just like his iconic fashion line, the aesthetic of this

penthouse is very classic American with eccentric, artistic

touches–glamorous yet modern. The murals, powder room, and marble bathrooms alone can transport you to another

era. The apartment also features a cozy tea room under the dome of the Plaza Hotel.

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LIVING ROOM The living room walls are adorned with Andy Warhol’s original portraits of Elizabeth Taylor and Grace Kelly as well as pieces by Jean-Michel Basquiat. While the art is not for sale along with the penthouse, the exquisite designer furniture can be included for the right price.

MASTER BED The master bedroom has access to a private balcony, leading to the Plaza’s cupola and offering unobstructed views of the Manhattan skyline.

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November 2016 Issue

THE STUDY The walls of this unique study and library feature rubbed lacquer and built-in shelves, along with an authentic New York Times sign from the paper’s century-old building that Hilfiger bought at an auction.

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THE PLAZA The owner of this penthouse has access to all the hotel’s amenities, including round the clock room service, housekeeping, spa, and concierge.

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November 2016 Issue

BREAKFAST NOOK Quite fittingly, the penthouse’s breakfast nook features a hand-painted “Eloise” mural in honor of the book’s illustrator, Hilary Knight.

Interested in this incredible property? Call 800DRIVEN to inquire.

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Dania’s PICK Dania Al Mubarak, Managing Director of Driven Interiors, paired up with the Bowery Company, a unique concept store offering raw but luxurious furniture and home decor, to share some of her favourite pieces of the season

LIGHT IT UP

This light box comes with super cute messages, and additional letters can be purchased to make up any small statement (up to 36 characters). It is an extremely popular item and has been popping up on many interior design blogs lately.

Wanderlust is a term that represents a nomadic person with a strong desire to travel. It is a very fresh piece that can be hung in bedrooms or entrances to make a sweet impact.

ALL IN THE DETAILS

This Macbook cover is extremely popular. It is a white-grey Carrara Marble adhesive decal and is resistant to both water and oil.

I personally love throw pillows. I tend to change them every year because they instantly bring new life to the room. The palm print and inspirational quote are right on trend-definitely a must use in my next beachside projects.

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November 2016 Issue

Candles are great for creating a calm and inviting ambiance. This is a cool take on the candle holder and is a great addition to a dinner table or outdoor seating area.

METALS AND MINERALS

This is one of my personal favorites because I love adding greenery to liven up a room. In this instance, the copper pot is an added bonus, being a perfect example of simple Nordic design.

This table lamp first caught my eye on Instagram. It is heavily used by the Scandinavian bloggers and it is a very simple, versatile lamp. I love the mix of brass and marble.

The Marlton chair is an absolute beauty. The industrial look of this brushed gold chair can be softened by a sheepskin throw or pillows, adding an elegant element to any room.

WRITINGS ON THE WALL

Artwork is a great way to bring character to any space—black and white portraits or fashion prints are particularly stylish and appealing.

The Bowery Company is an online concept store for the urban customer seeking affordable luxury furniture with an industrial edge. They aim to bring back a design age that focuses on manufacturing, mechanical ingenuity, and raw industrial designs which are softened with soft and clean shapes to create a cohesive and meaningful “Scandustrial” interior. The Bowery Company is a tribute to New York City with their cherry-picked accent furniture and lighting named after beloved places in the city, giving the impression of an effortless Soho warehouse-turned-loft cool. The Bowery Company is based in Dubai, and delivers online orders.

Again, brass and copper are very big trends this season, as presented in this modern twist on the bar stool. It is very versatile and functional, which is perfect for open plan kitchens--a norm here in Dubai.

Do you need one of these Bowery Company pieces in your home?

Enter coupon code “DRIVEN” for 10% off on purchases made online

Connect with us: www.thebowerycompany.com facebook.com/thebowerycompany

valid until NOV 30, 2016.*

instagram.com/thebowerycompany

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SUSTAINABILITY in Dubai

In preparation for Expo 2020, of which one of the main themes is sustainability, Dubai is beginning to integrate ecoconcious elements into new developments and launch initiatives to shift the behavior of residents in order to reduce the nation’s environmental footprint.

ENERGY In an effort to become a smart and sustainable city, the government developed programs to encourage residents and businesses to develop eco-friendly habits and begin using renewable energy. One of the most prominent initiatives is the Shams Dubai project, which aims to connect solar panels on homes and buildings to Dubai Electricity and Water Authority’s grid. This will not only slash utility bills, but the surplus energy generated can be sent back to the DEWA grid, allowing residents to also contribute to the generation of renewable energy. DEWA is also planning to set up more electric vehicle charging stations around Dubai to increase the convenience of charging cars running on electricity. The growing number of stations can potentially encourage more residents to invest in electric and hybrid cars in Dubai.

GREEN HABITS SUPERFLUOUS FLUSHING Surprisingly, the toilet accounts for nearly half the water used in a home. Depending on the age of the toilet, the common model will use around 13 to 18 liters per flush, making it extremely excessive and uneconomical. In order to reduce water use, homeowners can replace their toilets with a modern low-flush model, which uses less than half the amount of water older versions use, or opt for a dual-flush system which regulates the amount water used. A toilet’s water usage can also be reduced for free by simply creating water displacement by placing a plastic container full of water or pebbles in the tank. THIRSTY GARDENS A garden can require copious amounts of water, which can make a major dent in your wallet and the environment—especially during the UAE’s hot summers. Avid gardeners can invest in drought-resistant plants that thrive in hot and dry climates such as desert flowers, succulents, herbs, and cacti. But if it’s difficult to part with plants that require frequent watering, it is best to plant those thirsty ones in a separate area to avoid overwatering the low-maintenance plants.

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November 2016 Issue

CONSERVE WHILE CLEANING Showers account for the second highest water use in a home, hitting around 20%. However, there’s a simple solution to cutting down the amount of water used without sacrificing precious shower time: low-flow showerheads. These add-ons cut water usage in half, and are not only cost-effective for the water bill but also cut electricity bills by reducing the amount of hot water needed per shower. A faucet aerators also work similar to showerheads, and work on most regular taps in a home. Being very affordable, these devices also cut a faucet’s water flow by almost 75%.

GREENER GLOW While they cost more, switching to compact fluorescent light bulbs (CFLs) substantially reduces electricity use. In comparison to incandescent bulbs, CFLs last almost 10 times longer, use around 75% less energy, emit 90% less heat, and provide more light per watt in comparison to incandescent bulbs.

DESIGN Following a decision by His Highness Sheikh Mohammed Bin Rashid Al Maktoum, there are now specifications for green buildings in Dubai, as part of Dubai Strategic Plan 2015. Aiming to maintain Dubai as a clean and pollution free city, the Green Building Regulations & Specifications were put in place through a collaboration between DEWA and Dubai Municipality. These guidelines set specifications that regulate the criteria of a structure that allows efficient consumption of electricity, water, and renewable energy. Currently, there are a few buildings in the UAE that are bridging the gap between modern design and sustainable energy consumption.

O-14, DUBAI

AL BAHR TOWERS, ABU DHABI

If you’ve ever visited Business Bay, you’ll know that the O-14 is hard to miss. Informally known as the “Swiss Cheese building”, the 22-storey tower is completely surrounded by a wall of white concrete adorned in gapping holes. Designed by RUR Architecture in New York and developed by H&H Developers, the building’s unique design was initially purely for aesthetics. However, the hole-y exterior proved to be a sustainable design that could contribute to saving energy. The designers realized that the wall not only offered shade, similar to the traditional mashrabiya, the space between the wall and the building allowed hot air to travel up through the vacuum while cool air moves through the 1,300 holes. This accidental ecofriendly design has contributed to saving 30% on cooling bills.

Unique architecture, eco-friendly design, and modern technology–Aedas Architects brought it all together when designing Al Bahr Towers. The distinct feature of these towers are the origami-like pieces adorning the exterior to create a screen–which is not to be mistaken as a purely decorative structure. These elements respond to the sun, expanding and contracting depending on it’s position throughout the day. Also taking inspiration from the masrabiya latticework design, these elements have reduced solar gain by around 50% as well as reducing air conditioning use tremendously.

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COMMUNITY Dubai has always been one of the most ambitious and innovative cities in the world when it comes to property development and architecture. And just as rapidly that it rose from the desert, Dubai is beginning to transform into an smart, green city with sustainable communities. AL BARARI Al Barari is renowned for being one of the first eco-friendly communities in the entire UAE, making it an ideal residence for nature lovers and the environmentally conscious. The philosophy of Al Barari is ecological sensitivity without compromising luxury. Al Barari implements environmental management strategies such as composting, recycling, and engineering design in order to integrate sustainability into all aspects of the development and minimize environmental impact. In total, there are more than 14 million square feet of botanical landscaping in and around Al Barari, with each villa built and designed to blend in with the lush foliage. Located within Al Barari is Greenworks, the largest privately owned plant nursery in the region. This special nursery is staffed with experts and horticulturists that carefully select and nurture over 500 different species that thrive in this part of the world, ranging from potted flowers and fruit trees to 700 year old olive trees.

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SUSTAINABLE CITY This AED 1.1 billion project is set to change the standards for all green developments around the world. Spanning over 5 million sq.ft, Sustainable City focuses on economic, environmental, and social sustainability, mainly comprising of energy efficient homes built using eco-friendly materials. Every building within the development features rooftop solar panels in order to generate electricity using renewable energy and drastically reduce utility bills. It is evident in the masterplan and exterior designs of the homes that the architects drew inspiration from natural elements such as the sun, wind, and earth. The focus on natural greenery in this project isn’t merely for beautification, but also to create a cooler climate and fertile land. Sustainable City will feature a 3-hectare farm with a 38,000 sq.ft. biodome for growing vegetables, fruits, and herbs. Residents can participate in the farming groups, receive a delivery box of fresh produce every week, and grow their own produce in their rooftop gardens. The project will also boast car-free zones and free electric buggies, as well as a subsidy for electric car drivers.

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R E S I D E N T I A L MARKET SALES REPORT Apartments Apartment   Sales  Prices  (AED/Sqf) Sales Prices (AED/sq.ft. per year)

Returns from a real estate investment is derived from two basic components: capital appreciation and rental returns.

2000 1600 1200 800 400 0

Business   Bay

Dubai  Marina Palm  J umeirah   Jumeirah   Shoreline   Beach   Apartments Residences

Studio

The  Greens

1  B edroom

The  V iews

Motor  City

Discovery   Gardens

2  B edroom

Apartment  Price  Changes 6% 4% 2% 0% -­‐2% -­‐4% -­‐6% -­‐8% -­‐10%

Price Changes 4%

0%

0%

-­‐1%

-­‐1%

-­‐2% -­‐4%

1%

0% -­‐1%

-­‐2%

-­‐4%

-­‐1% -­‐4%-­‐3%

-­‐4% -­‐6%

-­‐7%

-­‐8% -­‐8% -­‐8% Business   Bay Dubai  Marina Palm  J umeirah   Jumeirah   Shoreline   Beach   Apartments Residences

Last  3  Months

-­‐3% -­‐6%

-­‐8% The  Greens

Last  6  Months

The  V iews

Motor  City

Discovery   Gardens

Last  1  Year

Villas

Villa   Sales  Prices  (AED/Sqf)

Sales Prices (AED/sq.ft. per year) 2500 2000 1500 1000 500 0

The  Springs

The   Meadows

The  Lakes

Jumeirah   Islands

3  B edroom

Jumeirah   Park

Al  F urjan

4  B edroom

Arabian   Ranches

Jumeirah   Golf  Estates

Victory   Heights

5  B edroom

Villa   Price  Changes 10% 5%

Price Changes

4%

2%

0% -­‐5% -­‐10%

-­‐9%

-­‐15% -­‐20%

-­‐5% -­‐8% -­‐9%

-­‐3%-­‐4% -­‐5%

-­‐6% -­‐11%

-­‐3%-­‐2% -­‐11%

-­‐19% The  S prings   and  t he   Meadows

The  Lakes

Jumeirah   Islands

Last  3  Months

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-­‐3% -­‐6% -­‐9%

November 2016 Issue

Jumeirah  Park

Al  F urjan

Last  6  Months

Arabian   Ranches

Last  1  Year

0%-­‐1%

-­‐4% -­‐8% -­‐13% Jumeirah  Golf   Estates

-­‐12% Victor y   Heights

Over the last two real estate cycles, investors have focused on the out-sized returns generated from capital appreciation compared to rental yields. However, in the long-run the latter can account for 40% of the total returns, making it an essential component of the return matrix. During up cycles, capital appreciation always accounts for the bulk of the total returns. It is in periods of downturn that rental returns dominate, and in this cycle, it dominates throughout the entire cycle to date. With the recent drop in sales prices and new supply coming in, affordability levels have improved. We expect this trend to continue for a while until to the point where the prices start rising again. We believe we are close to the bottom phase of this cycle. Rental market has been strong and resilient to the sales price drops. This makes the current market a very strong investment market offering rental yields at the median range of 8% across Dubai. Depending on the return expectancy, it differs between rental return and capital appreciation. If the focus is on rental yields, then apartments traditionally offer better returns over villas. The smaller the unit, the better the rental return. But in capital value appreciation, villas offer better returns in terms of three to five year cycles when it comes to total sales price investments.​

PROPERTYMONITOR

RENTAL MARKET AED per sq. ft./annum

A P A R T M E N T S

AREA

STUDIO

1 BEDROOM

2 BEDROOM

Business Bay

119

97

94

Dubai Marina

128

115

103

109

104

Palm Jumeirah – Shoreline

• • • • •

Discovery Gardens

86

64

JBR

108

116

108

Motor City

83

70

69

The Greens

144

110

100

The Views

150

116

105

In Q1 2016, we witnessed that apartment rents have declined up to 4%. The delivery of new developments has increased the options for tenants as they shift from established locations to emerging areas such as Dubai Sports City and Dubailand. Prices have declined at a faster rate than rents, leading to more attractive gross rental yields in the market. As sale prices continue to decline, some homeowners who may have previously been looking to sell have turned to renting their property instead as they have not been able to achieve their expected sale prices. Buyers, however, especially those residing in Dubai for the long-term are starting to consider buying over renting.

AED per sq. ft./annum

V I L L A S

AREA

2 BEDROOM

3 BEDROOM

4 BEDROOM

The Springs

74

72

69

The Meadows

62

60

66

The Lakes

74

72

85

59

60

62

59

69

71

69

69

60

60

74

66

Jumeirah Islands Jumeirah Park

62

Al Furjan Arabian Ranches Jumeirah Golf Estates Victory Heights

• • •

51 77

5 BEDROOM

46

The delivery of additional villas into the market has created a downward pressure on rents. As the city border continues to expand inland, developers are designing and delivering villa communities which are self-sufficient, offering a full scale of facilities and amenities, including retail, food and beverage outlets as well as schools. This shift in design trend, alongside the sale market conditions and additional villa supply, has placed pressure on established villa communities.

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ExpandinG Horizons The Franchisee

In 2016, Driven Properties signed its first franchise agreement with Geraldine Peyraud, the Executive Director of Driven Properties’ Arenco branch. Under her guidance, the franchise office has developed an interesting culture and operations style based on the Driven brand. Here, Geraldine expands on her management style, the growing pains of a new franchise, and her strategic goals, while Abdullah shares the benefits of the franchise model and future plans.

team. I prefer to keep it small in order to maintain the intimacy while still being efficient. Having a smaller team means that there’s less bureaucracy, which streamlines all our processes, and making communication easier.

Geraldine Peyraud

How long have you been in the property market? When did your professional relationship with Driven begin? I’ve been in Dubai since 2007, but I entered the real estate sector here in 2011. I first started as an agent, and then I moved on to become a Director at Habtoor Properties. I joined Driven Properties in September 2014 as the Director of the branch office in Media City, leading a team of 15 people

What spurred the franchise agreement? A year and a half later, I wanted to start running the office in a different way while still maintaining the strong Driven platform and brand. That is how the idea of the Driven Properties franchise was conceived. This meant that I could utilized the brand while further developing the operations style, culture, and environment that I developed with my agents.

What are some of the benefits and unique features of the franchise?

unique features of the franchise? One of the benefits of the franchise is that I can maintain the size of my

Our in-house Marketing, Listings, and Customer Care teams allow for direct communication and dedicated attention that greatly affects the quality of the marketing and customer service. Our office has more of a boutique agency feel, and our agents work in both leasing and sales. As expected, our management and training styles differ slightly from the head office, however we all have the same strategic goals, which are to work faster, be more efficient, put clients first, and maintain employee satisfaction and development.

What are some challenges that you’ve overcome in this process? Since we operate separately from the head office, our decisionmaking power has increased tremendously, meaning a higher level of responsibility. We’ve also had to adjust to technicalities that come with communicating between the franchise office, head office, and other branch offices. However, these are just part of the growing pains that come with the agreement.

What is the general relationship between the head office and the franchisee There is a certain distance that formed initially when we began to operate the business and HR separately, however we created initiatives and social events to strengthen the bond and understanding between all companies in the Driven Group. One of the great things we’ve done was the Bayut Football League, which our team made of players from both office won 1st place in. It was an incredible bonding experience for both our players and all the Driven employees who attended to cheer them on.

We all have the same strategic goals, which are to work faster, be more efficient, put clients first, and maintain employee satisfaction and development. 22

November 2016 Issue

The Franchisor Abdullah Al Ajaji

Tell us more about Driven’s franchise model. As far as I’m aware, this is the first franchise agreement signed by a Dubai-based brokerage. Since there aren’t existing agencies in Dubai with franchises, we decided to base our agreement on the successful models of major global players such as Century 21 and REMAX and adjust it to fit the Dubai market. For example, Driven franchisees pay fixed monthly fees rather than the typical percentage of revenue other franchises require. We put this in place to allow the franchisee to grow to their full potential.

What are some of the difficulties or obstacles you faced during the franchising process? During our first franchise agreement, we had a number of issues related to the licensing process since it is a new concept to the UAE–even local attorneys were puzzled. We had to recruit an international firm known for licensing deals to carry the process and build a model for future franchise deals.

Why did you choose a franchise agreement over having multiple branch offices? The idea of a franchise is to license our product and infrastructure so that others can benefit from that platform and we can leverage our brand equity, which is also developed through brand ambassadors across different regions.

They can benefit from our established brand guidelines, market knowledge, resources, corporate structure, and principles. Are there more franchise agreements currently in the works? Our next step is to spread the Driven brand across the region, however our guidelines for considering such an agreement are strict. The experience and ability of the franchise owner is very important, especially if they have a proven history of running a business. Geraldine not only was the General Manager of a major real estate agency, she also successfully ran a Driven branch, so she’d proven her abilities well before the franchise came to light. The rounds of vetting and discussion for those interested in franchise opportunities are very important because to entrust our entire brand with the franchisee we need to know that they won’t mishandle it. Currently, we are planning to operate in Saudi Arabia through a regional player.

What do you feel Driven franchisees benefit from this agreement? By signing on with us, a franchisee’s risk is mitigated since they can benefit from our established brand guidelines, market knowledge, resources, corporate structure, and principles. Since our brand recognition and reputation is growing exponentially, a Driven franchisee can focus on developing their own operations and growing their client database.

Are there any shared projects or initiatives between the head office and the franchise? Absolutely. We get our franchise involved in every project we take. Our ultimate goal is the success of the projects we take on, so the more minds working on specific mandates, the more the chances of success. We also share marketing ideas and work on some campaigns concurrently.

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LEASING PROCESS 01. Choosing the Agent One of the most vital components of the whole leasing process is choosing the right agent. This agent should have a good understanding of the area and the current market prices as well as the UAE’s real estate regulations.

02. Exclusivity There is a misconception that marketing a property with multiple agents will deliver the fastest results, while the contrary is in fact true. Marketing a property with more agents lowers the value of your property and gives the impression of oversupply in the market. Agents with exclusive rights to the property make sure that it gets the widest exposure through the right mediums. This will be key to leasing out the property faster.

03. Listing and Marketing

The listing process of a property will always start with getting original and professional photos taken of the property. This gives the best first impression to the viewers and sets your positioning. After, the agent works with the Listings and Marketing team to determine the best strategy to garner the attention of potential tenants. This could mean putting up the property as a featured or premium listing to maintain top spots on property portals and publishing it on digital and print mediums.

04. Communication

The process of looking for a prospective tenant is always very lengthy and intricate, so it is essential that the agent keeps the owner posted on the progress. It is also important that the owner expresses their exact expectations so that negotiations happen within their requirements and the process runs smoothly.

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November 2016 Issue

06. Required Documentation The first rule of thumb in leasing properties is the tenant must have a UAE residency visa. Other documents required include: 1. Title deed: Proof of property ownership 2. Legal identification documents: passport and Emirates ID 3. Tenancy Contract: There is only one recognized contract with nonchangable terms and conditions 4. Cheques 5. Ejari: Government registration of tenancy

07. Move in After the tenancy contract is signed and the landlord receives all the cheques, the tenant will be able to move in. It is crucial that the property owner makes sure that all their utility accounts have been disconnected and ready to transfer to the new tenant. It is the obligation of an owner to also make sure that the property is in a decent and livable condition for the tenant.

05. Offer Once the offers from prospective tenants start coming in, it’s always advisable to understand the correlation between cheques and offer amounts. The lower the number of cheques, the lower the total price will be.

November 2016 Issue

25

CLOSER DUBAI MARINA Q2

425

7.8%

sq.ft.

1,357

SALES

GROSS

MEDIAN

Transactions

Price

Yield

SALES PRICES (AED PER SQ. FT.) STUDIO

1 BEDROOM

2 BEDROOM

3 BEDROOM

4 BEDROOM

MIN

929

717.9

811.1

673.2

609

MEDIAN

1,833

1,676

1,724

1,606

1,650

MAX

4,459

3,366

4,915

4,288

4,605

23 Marina

TOP RESIDENCES

MAG 218

MORTGAGE VS CASH

48% Princess Tower

52% Cash Purchases Mortgage

Most popular Dubai area of Q2 2016, seeing the highest number of sales most transactions.

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November 2016 Issue

90%

80K-205K AVERAGE

ESTIMATED Occupancy Rate

Rental Prices

MEDIAN RENTAL PRICES (AED PER SQ. FT.)

Studio

12.16

1 Bedroom

9.85

2 Bedroom

8.93

3 Bedroom

7.89

4 Bedroom

6.88

5 Bedroom

7.40

ENTRY LEVEL PRICES FOR 1 BEDROOM POPULAR BUILDINGS

SALES

RENTALS

MARINA QUAYS

AED 1,660,000

AED 110,000

MARINA PROMENADE

AED 1,891,000

AED 120,000

AL MAJARA

AED 1,678,000

AED 124,000

PARK ISLANDS

AED 1,625,000

AED 122,000

ORIGINAL 6

AED 2,423,000

AED 163,000

FACTS AND FIGURES

• • • • • •

Development by EMAAR Properties Contains man-made marina stretching over 3 kilometres 150,000 sq m Dubai Marina Mall complex 148 ready buildings and 23 under construction Largest freehold community in Dubai in terms of projects, number of residential units and population Serviced by two metro stations, a bus network, and the tram line

November 2016 Issue

27

Culture is Built, Not Bought Hibo Bile Culture has become a corporate buzzword recently, with many people using it without fully understanding the concept. Well, the general definition of culture​is how a group of people act, feel, and interact. However, a corporate culture is created by a company to set a system of values and behaviors that will create a desirable work and social environment for all employees.

Culture noun | cul·ture |

: the ideas, customs, and social behaviour of a particular people or society.

In the modern workplace, there needs to be something other than a competitive package and challenging work that draws people in and retains them for as long as possible. After assessing our workplace, we launched Driven’s corporate culture initiative, created a manifesto of our mission, vision, and values, and begun implementing new incentives and development program for all employees. And many months after the initiative went into full effect, our culture has taken on a life of its own and the values we inked down haven begun to manifest in interactions between coworkers and departments.

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November 2016 Issue

THE PILLARS Firstly, an outstanding culture is built upon the foundation of a well-developed vision and mission statement, which ultimately shapes the decisions of the employees as well as involved stakeholders. The values of the company are the “meat and potatoes” of a company culture because they offer the mindset, disciplines, and guidelines needed to effectively accomplish the mission statement. Our mission, vision, and values are built on the shared goals of each department—Sale and Leasing agents want to offer their clients the best services in the city, Customer Care are dedicated to maintaining long-term client relationships, and Marketing aims for Driven to become a reliable source of market information and creative content. THE PEOPLE Many global companies are lauded for their amazing company culture, and because most of them have unique working spaces—slides, cereal bars, bean bags, game rooms—people assume that’s the core of it all. But that’s completely untrue.

People and values make a culture. It is crucial that every employee knows their value and what they bring to the agency. Ultimate commitment is achieved when our people understand that they play a central role in creating the kind of company they want to work for—that the company is actually their most important product. Our

people, the Driven Family, are what keep this company going, day in and day out. Driven employees are essentially unofficial spokespeople who represent the company even outside of work. And if they didn’t take every single one of our values into consideration in their daily activities, our culture would not have come to fruition.

and career growth as well. The management often organizes informational meetings and workshops for different departments and 360 reviews to increase feedback and transparency. In order to reward long-term loyalty, Driven employees with long tenures are offered longer annual leave, flexible working hours, and equity options.

THE PRACTICES

The second phase of implementing our new corporate culture was to use it as a recruitment tool. Now that our values and practices have become part of our brand, we know it will attract only right type of candidates that will fit into our environment. And the stronger our culture grew, the bigger the role it played in all aspects of our brand recognition and marketing endeavors.

Values are obviously ineffective unless they are implemented in the practices of a company. Our values are visible through our material, promotional policy, and day-to-day operations. The upper management have taken steps to focus on the progress of teams and individuals by developing both performance and non-performance based rewards—including monthly and quarterly prizes and team outings. Studies have shown that the more an employer invests in an employee’s happiness, the better work they’ll do.

Happy employees are productive employees. When we are positive, our brains become more engaged, creative, motivated, energetic, resilient, and productive at work. This is why culture matters—it sustains employee enthusiasm. One of the goals of the culture is to foster loyalty between the company and the employees to encourage high staff retention. In addition to the positive work environment and incentives, we focus on every individual’s professional development

DEVELOPMENT Most people have an idea of where they want their career to go, but aren’t sure if that is in line with the company’s future plans for them. By encouraging transparency and creating a dialogue about expectations, it’s easier for managers to work with employees in crafting solid career trajectories and advancing their professional development. Often times, an employee has an unknown talent or aspiration that can be integrated into their career plan at the company, further advancing the success and satisfaction of both parties. Learning and development can be achieved not only through training and planning, but by reigning back the micromanagement and allowing people to work on projects with minimal assistance.

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EXCLUSIVE

City Walk Phase 1 was lauded as one of the greatest additions to the city, but the second phase of this development is nothing short of incredible. Located between Downtown Dubai and Jumeirah, City Walk seamlessly integrates entertainment, dining, and luxury living into a single dynamic hub.

THE RESIDENCES

These apartments feature:

The mid-rise buildings comprise of one to four bedroom apartments, duplexes, and penthouses. Featuring a modern, minimalist design and unique layouts, City Walk apartments set a new standard for urban luxury living.

•

The living space is flooded with natural light coming through the large windows, offering unobstructed views of the City Walk park, lake, and the iconic Burj Khalifa.

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November 2016 Issue

• • • • • •

High-end kitchens, including an island and built-in appliances Polished, wooden floors Large private terrace Spacious maid’s room with separate entrance Wall to wall, floor to ceiling windows Ample storage space and built in closets Communal courtyards

LIFESTYLE

HIGHLIGHTS

With around one million square feet dedicated solely to fashion, the project boasts a variety of global high-end clothing stores and boutiques as well as homegrown outlets.

•

One of the attractions of City Walk is the upcoming lake, where residents and visitors can enjoy the serene surroundings, alfresco dining, and views of Downtown Dubai. The community also features lush landscaped spaces, paved walkways, and an area for markets, performances, and concerts.

Surrounding retail and commercial outlets, spanning over 1 million square feet Landscaped spaces, park, and lake Pedestrian only zones Close to Downtown, Jumeirah Beach, Al Wasl, Box Park, and major highways 1,800 underground parking spaces

• • • •

LOCATION City Walk can be accessed from Dubai Mall metro station, which is located at a walkable distance, and by Sheikh Zayed Road.

TRANSPORT Burj Khalifa/Dubai Mall Metro Station (1 km) 9 min Sheikh Zayed Road (1.4 km) 3 min Al Khail Road (9.9 km) 12 min

RESTAURANTS

SCHOOLS

HEALTH CARE

Galvin Restaurants

Little Champions Nursery (0.74 km)

Valiant Clinic

Farzi Café Tartufi & Friends Serendipity3 Brass Coffee & Community

GEMS Wellignton Primary (1.05 km) Jumeirah Int’l Nursery (0.96 km)

Hummingbird Bakery

Lady Bird Nursery (1.3 km)

Al Amal Hospital (0.54 km) Midas Touch Med Spa (0.93 km) Aquacare Medical Center (0.95 km)

The residential buildings of City Walk were handed over in June 2016, and Driven Properties holds exclusive rights to City Walk building 12. If you’re interested in buying or renting City Walk apartments, call us at +971 (0) 43624046 to connect with one of Driven Properties’ City Walk specialists.



City Walk Phase 2 is not just a new visitors attraction, but a residential

community with an abundance of unique experiences–it’s truly incredible. Setting a new standard for Dubai developments, City Walk exudes modern luxury, community, and convenience. The layouts, finishes, and fixtures of the apartments are impeccable and the sleek design will pull the heart-strings of any modernist. Its location brings a new level of centrality, with the project balancing right between Jumeirah and Downtown Dubai. Nature, gourmet food, entertainment, beautiful apartments: Who wouldn’t want to live here!

Marcela Herrera City Walk Specialist

November 2016 Issue

31

THE INVISIBLE VALUE Never underestimate the role of asset management. A well-managed property can substantially add value to your investment. In fact, many seasoned real estate investors will tell you that a good management company is worth their weight in gold. It usually only takes one problem with a tenant to cause a significant legal and financial burden. Quite often the overlooked aspects of property management are essentially the basic requirements, such as market intelligence, inspections and detailed reports on the property’s conditions, and all tenant relations–from screening and lease addendum to evictions. Driven Properties’ property management team have extensive experience, holding a portfolio of over 2,000 units and buildings under their management–units in all stages of the property lifecycle. This includes full towers located in Jumeirah Beach Residence and Creekside tower, and most recently, City Walk by Meraas. We are fully armed with the knowledge of landlord & tenant laws, ensuring that owners are not left vulnerable to any potential risks or legal disputes. As property managers, our aim is to make sure an investor’s asset reach its potential, whether it is a commercial, retail, or residential unit.

Full Property Management

Let Only*

Lease Management

Professional photo shoot

3

3

3

Marketing of property

3

3

3

Find a suitable tenant

3

3

3

Preparation of tenancy contract

3

3

3

Collection of rent and security deposit

3

3

3

Management of rental payments and security deposit cheque

3

3

Registration of tenancy contract to Ejari

3

3

Services

(5% of annual rent)

(5% of annual rent)

Pre move-in cleaning Pre move-in property inspection / furniture inventory check Key handover

(7% of annual rent)

3 3

3

3

Arranging repairs and maintenance

3

Management of petty cash account and payment of outgoings

3

Tenant management

3

Follow-up on default payments

3

3

Bi-annual inspection of property

3

Financial reporting

3

Managing the lease renewal process

3

3

Move-out inspection and key handover

3

3

Follow up on final DEWA bill

3

3

Return of deposit to Tenant

3

3

Re-marketing of property

3

3

3

Preparing the property for a new Tenant

3

3

3

Full inventory report with pictures sent to owner

For more information on our property management service, don’t hesitate to contact our team to receive a quote and find out what we can do for you.

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November 2016 Issue

3

AGENT

SPOTLIGHT

Leading consultant Joy Erroja is an Arabian Ranches and Mudon specialist, and is one of Driven Properties’ most popular agents of 2016. We sat down with her to figure out what motivates her and how she has established herself as a top agent. 1. What are your thoughts on the Dubai property market so far in 2016? Any trends that you’ve picked up on? Have you noticed any changes in the villa market? 2016 so far, has been a great year to invest in property in Dubai. The market has stabilized due the improved, regulated environment. I’ve noticed a steady growth in the demand for villas compared to the past few years, which I believe is due to the growing number of expats coming to Dubai with their families. 2. As an agent, you do your own time management. How do you schedule your days to stay effective and productive? What does your typical day look like? Honestly, real estate agents don’t have a “typical day”, and to most agents that is the drawing factor of this career path. I like to manage my own time and dislike routines, so this is my ideal job. When you’re creating your own schedule, it’s important to keep yourself motivated and productive. In the beginning of the workday, I always complete the most important and realistic task first—this is the golden rule of time management. By accomplishing it, I’ve already started my day on a successful note and I’ll have the motivation to continue on that streak. 3. What are the small things that you do for your clients that make them more likely to continue working with you? Once I close a deal and ensure a smooth transaction, I follow up with the client to see if they require further assistance and send them a card congratulating them on their new home. My previous experience as a property manager taught me how to work towards a client’s full satisfaction, anticipate potential issues, and ensure the condition and quality of a property.

4. You’ve successfully established yourself as an Arabian Ranches specialist—how did you set this base? Being an area specialist is a combination of factors: being up-to-date on current prices, community events, and changes within the community as well as maintaining a personal reputation in the area. I am so focused on the area I work in that I will often decline mandates in other areas, and instead referring them to other specialists. For an area specialist, success is not measured by sales, volume, or profit, but rather by maintaining a reputation as a knowledgeable source of market information for buyers, sellers, and tenants. As an Arabian Ranches specialist, you must know the market price of different types of property in the community, understand your client’s needs (schools, medical facilities, amenities), be updated on further expansions or developments in the area. It’s also pertinent to understand the lifestyle of the residents and know the homeowners association rules. 5. What are some of the drawing factors of Arabian Ranches? Arabian Ranches features a range of units, from townhouses to luxury villas with golf course and lake views. Villas typically feature Spanish architecture with Arabic and modern design influences. Each sub-community has its own tennis court, community pool, children’s play area, barbecues, and parks. Arabian Ranches is great for the families who want to escape the busy city, and it is not that difficult seeing that the community contains a shopping center, medical clinic, golf club, several restaurants, and an equestrian polo club. Popular attractions such as Miracle Garden and Global Village are just a short drive away.

Each Arabian Ranches sub-community has its own unique feel: Saheel has large parks and winding walkways that are perfect for dog walking, Alvorada exudes a friendly and relaxed charm, Al Mahra villas feature traditional Arabian architectural design which creates a regal atmosphere. 6. Do you have any advice for aspiring real estate agents? Since this is a lead generation business, I’d say prospecting. If you don’t have prospects, you don’t have a client. And what is an agent without clients? List to live is a common mantra in this business. There are countless ways to prospect: through friends, your neighbors, social events, social media, or even going door to door. Many agents like to work in solitude, but teamwork is extremely important. Successfully handling and closing major deals require multiple specialists who understand their skills and how to utilize them. Also, remain professional, patient, and kind when dealing with new agents or consultants from other agencies in order to maintain clients. Think outside of the box, stay positive, and focus.

November 2016 Issue

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THE REPORT Driven’s area specialists give an insight to their areas and the market trends in Q1

JUMEIRAH PARK Jumeirah Park is a villa community by mega-developer Nakheel. Surrounded by a lush environment and outdoor parks, Jumeirah Park spans over 370 hectares and comprises of over 2,000 spacious three to five bedroom villas that come in three designs: Heritage, Regional and Legacy. These villas are designed for family living, with spacious living areas, back gardens, garages, guest rooms, terraces, and wellfitted kitchens.

Zhihua Zhang Jumeirah Park Specialist

Ludovic Ortiz Jumeirah Park Specialist

An outdoor lifestyle is encouraged in this community, with jogging and cycling tracks looping around the gardens and sports court. Families with young children can benefit from the children’s day care, play area, youth center, and kindergarten. In the beginning of 2016, we saw a very slight decrease in price in Jumeirah Park, with the price per square foot going from AED 1,220 to AED 1,206. Demand is steadily growing for Jumeirah Park villas, and the number of sales transactions in the second quarter of 2016 was 26% higher than those we witnessed in the forth quarter of 2015.

THE MEADOWS As a gated community in the heart of Emirates Living, Meadows is surrounded by beautiful greenery and breathtaking lake views. The Meadows is a matured community, which means a higher level of stability and trust. Buyers can get the choice of three to seven bedrooms villas with different views of the lake and lush landscaped areas. With its wealth of amenities and open green spaces, this community is ideal for families of all sizes. The Meadows community center offers residents shopping and dining outlets as well as fitness and wellness centers. Avid golfers can also enjoy a round of golf at the Emirates Hills Golf Club, which is in close proximity to Meadows. Like most areas in Dubai, prices were decreasing steadily during the first three quarters of 2015, dropping around 7% throughout the year. However, the sale prices began to stabilize in Q4 2015, and have even increased in Q1 2016— 0.15% on the sales prices and 1.54% in the rental prices. With the average price hovering around AED 1,329 per sq.ft., current sales prices for a Meadows villa are very reasonable and affordable for this level of luxury.

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November 2016 Issue

Zahra Ali Syed

Meadows Specialist

Ali Qureshi

Meadows Specialist

Women at

WORK

FATMA HASHIM

In modern times, the term “glass ceiling” is often thrown around with such ease, as if it is not the biggest reason why women in the Middle East and across the world are not offered the same opportunities and professional recognition as men. To make women a peripheral group in the workforce barred from progressing up the professional ranks is not only detrimental to literally half of the world’s population, but it holds back innovation and economic growth. “YOU CAN AND SHOULD SET YOUR OWN LIMITS AND CLEARLY ARTICULATE THEM. THIS TAKES COURAGE, BUT IT IS ALSO LIBERATING AND EMPOWERING, AND OFTEN EARNS YOU NEW RESPECT.”

– ROSALIND BREWER PRESIDENT AND CEO, SAM’S CLUB

Particularly in this region, women are viewed as the primary caregivers in families; an assumption that is neither wrong nor untrue. However, the belief that we cannot achieve professional success too is unfounded, and it is unfair that men are expected by society to focus solely on their careers, I believe what separates genders isn’t the types of challenges that we face but how we overcome them and how well we manage to weather a storm. Working mothers have to deal with a whole obstacle course that men, fathers or not, can’t even imagine. “I NEVER APPROACHED ANY ASSIGNMENT THAT, ‘OH, I’M A WOMAN.’ MY GENDER DOESN’T REALLY FACTOR INTO MY THINKING AS I COME INTO THE ROOM.”

– MARY BARRA CEO, GENERAL MOTORS

As if it wasn’t difficult enough, choosing to balance motherhood and a career just opens up a pandora’s box of discrimina-

tion, including viewing working mothers in higher positions as a risky move. One way I’ve seen many women overcome these hindrances is to start their own businesses. But if organizations were able to retain these ambitious women and set clear career paths for them, it would have led to greater results for all parties. Basing a woman’s career progression on outdated stereotypes goes against the principle of finding a qualified person for a role. In this day and age, it’s evident that women are fully capable of fulfilling and excelling in their roles and making for great leaders for all genders. The supposed inherent traits that are held against us are those that can work into our advantage in a workplace, such as emotional intelligence and “nurturing”. In my opinion these admirable skills are what I see in the greatest female leaders that I have known that have taken initiative and gotten results. “I THINK YOU CANNOT HAVE IT AT THE SAME TIME. I THINK YOU CAN IN A WAY HAVE IT ALL AS LONG AS YOU CAN AFFORD TO BE PATIENT. BUT YOU CANNOT HAVE IT ALL AT THE SAME TIME. YOU MUST ACCEPT THERE WILL BE FAILURES.”

– CHRISTINE LAGARDE MD, IMF

Once I got the opportunity to manage a big team, I understood that being a good leader had more to do with emotional intelligence. But I also found out that I had to commit to constant development and re-inventing myself to face new challenges as nothing in life remains constant. The most important skill I’ve developed is listening, which has vastly improved my work and helped me respond to my team’s individual needs. It is paramount that female leaders always

try to gain new skills and adapt to the requirements of the teams. Fortunately, I’ve landed in a work environment that never based my progress and positions on anything but my pure work ethic and progress. Driven has helped me develop in a way that other women, especially working mothers, do not have access to. Working in a male-dominated industry such as real estate, it is difficult for most to comprehend that our ratio of female to male directors is four to one, while all of the departments are perfectly gender-balanced–a feat in almost every sector. But this is not because Driven Properties hires mostly women or focuses more on their development–it all goes down to gender-blind recruitment and performance based rewards. “WORK HARD AND OWN IT. YOU MAKE YOUR OWN SUCCESS AND YOUR OWN LUCK. ASK FOR WHAT YOU DESERVE.”

– KATIA BEAUCHAMP CEO AND CO-FOUNDER, BIRCHBOX

As the director of three departments and a mother of four children, I understand that small sacrifices need to be made in both aspects of my life. However, the flexible working hours and splitting the childcare responsibilities with my husband has made all the difference. But most women in the UAE do not have the privilege of working in a company that has a culture of connectivity, inspiration, and empowerment amongst women. Women shouldn’t have to make sacrifices, it is societal norms and modern work places that need to shift. Regardless of age or background, we have the desire and perseverance to lead and should we be encouraged to fulfill our potential and make a mark.

November 2016 Issue

35

DRIVEN’S

AREA SPECIALISTS Joy

Saloomeh

Arabian Ranches

Sanoj Commercial

Ludovic Jumeirah Park

>

DRIVEN U N I T E D WE ARE THE CHAMPIONS!

In March 2016, property portal Bayut.com organised an amateur football league for Dubai real estate companies as a friendly tournament and networking event. And as football lovers, we did not hesitate to jump at such an opportunity. Our football team, Driven United, was composed of agents from the entire Driven Group, including our Managing Director Abdullah Alajaji. The matches were spread over three weeks, and our group of professional and amateur players proved to be a real dream team by bringing home the cup! Driven United presented great skill and teamwork while the rest of the Driven family cheered them on to their victory. Winning is always great, but the bonding experience between the Driven agents and with other brokers was one of the biggest takeaways.

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November 2016 Issue

SOCIAL SCENE End of Q2 Celebration @ Above

Social Thursdays @ 360

November 2016 Issue

39

FIRE SAFETY Prevention and Initiatives In light of the recent blaze at The Address Downtown and the major fire that gutted the Al Shamsi Building in Deira, fires have become a major concern for UAE residents living in high-rises. These are just two incidents in a list of fires that have occurred across the Emirate—The Torch in Marina, Tamweel Tower in JLT, and Regal Tower in Business Bay to name a few. It’s not always clear what the cause of these fires are, however most incidents are caused by overcrowding, lack of fire safety systems, and recklessness. In order to prevent potentially destructive fires, here are some tips and procedures—along with government initiatives—residents can follow.

Eliminate Hazards • • •

• • •

Prevention

Store all flammable materials away from anything that can burn Do not let garbage accumulate in or around your home Replace frayed wires, wires with dried out insulation, loose switches, and faulty devices that get extremely overheated Do not run extension cords behind rugs or curtains Do not overload circuits Keep candles away from all flammable items and never leave them unattended

Don’t look for personal belongings If your clothing catches on fire: stop, drop, and roll In the case of dense smoke, crawl on the ground Under any circumstances do not go back in

Initiatives

Keep fire blankets and extinguishers accessible in the home Check your smoke detectors regularly and replace batteries twice a year Fires can be caused by the vents on dryers, so clean them out once a year Never dispose of cigarettes out of windows or in the rubbish

The Escape Plan • • •

During A Fire • • • •

• • • •

• • • •

In case of a fire, develop a quick and safe exit strategy and an outdoor meeting point Assign household members responsibility of the elderly, infants, and pets during the evacuation If you live in a building, always take the stairs and walk down in a brisk but orderly fashion Always keep keys easily accessible Before opening doors, try to sense if there’s a fire on the other side Try to establish multiple exit ways If possible, keep an emergency kit with first aid material as well as an emergency contact list and copies of all important documents in the car or in an off-site location that can be accessed easily

In light of recent fire emergencies, government entities and organizations have taken the initiative to increase awareness on fire prevention and emergency procedures:

DEWA Fire Prevention Week

Dubai Electricity and Water Authority organized a program titled ‘Fire Safety: Learn and Practice’, which entailed a week of activities aimed to promote awareness about emergency situations and best practices in fire emergencies. DEWA sees these kinds of programs as part of its responsibility to society and social development.

Dashboard Monitoring System

Working in line with Dubai Government’s smart city initiatives, Dubai Civil Defense has begun installing the Dubai Life Safety Dashboard in buildings around the city—40,000 and counting. The system will give government departments, building owners, and residents access to view the real-time safety status of their buildings on their devices.

Silicon Oasis Safety Measures

In collaboration with Dubai Civil Defense, Dubai Silicon Oasis Authority organized a fire and evacuation drill in order to develop an emergency evacuation plan in the event of a fire in the high-tech park. The drill included a simulated fire incident with fire-trucks and ambulance cars to enhance the scenario.

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November 2016 Issue

ACCENT PIECES MODERN DESIGN

CLEAN LINES UNIQUE MATERIALS SOFAS * SOLID WOOD FURNITURE * WHITE GLOSS FURNITURE * ART ORNAMENTS * CARPETS * BED LINEN * ACCENT FURNITURE & ACCESSORIES facebook.com/mobilia.dubai

Instagram.com/mobiliadubai

TIMES SQUARE CENTER, SHEIKH ZAYED ROAD, DUBAI TEL: +971 4 338 5496

|

W W W. M O B I L I A . A E November 2016 Issue

41

DHH DRIVEN HOLIDAY HOMES

Business Trips | Holiday | Relocation REFORMING THE INDUSTRY Driven Holiday Homes offers a wide range of short-term luxury apartments and villas with personalized concierge services. Founded in 2014, Driven Holiday Homes spearheaded the rising short-term rental industry in Dubai, a sector balancing between hospitality and real estate. Our guests enjoy the high-end services and amenities of a hotel—from concierge to round-the-clock security—while bringing their own personal touch to the home. Our exclusive portfolio boasts handpicked and personally inspected properties in the prime areas of Dubai. Our team of professionals hail from all corners of the world, offering a bespoke experience to each unique guest. Beyond providing maintenance, housekeeping, and personal assistance services, we set a new standard of excellent service. Every aspect is arranged with exact precision to ensure a seamless and indulgent experience to linger in our guest’s memory long after their stay.

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November 2016 Issue

MEET THE TEAM

Khadija El Otmani Managing Partner

Ian Binalingbing

Yana Belokurova Short Term Manager

Indika Ahangamage

Listing Coordinator

Office Assistant

Alexandra Tatarinova Corporate Relationships

Mark Bernal Concierge

Swati Allen

Client Relationship Manager

Aisa Galang Housekeeping

Anna Frydlova

Client Relationship

Claire Rom

Housekeeping

Ejaz Ahmed

Mae Saavedra

Jenny Alupay

Sam Fagbemi

Finance Manager

Housekeeping

Administrator

Housekeeping

SOLUTION FOR PROPERTY OWNERS Short-term lets are an easy and hassle free way for landlords to make over 40% extra income in comparison to long-term rental. For our client’s ease of mind, we offer holiday home services with a full management package Comprehensive Management Service Our award-winning property management team will take care of every aspect of the letting process. All you need to do is inform us of the property’s availability dates and we’ll take it from there. WE OFFER... • • • • • • • • • •

Screening all occupants Exchanging contracts on owner’s behalf (with written consent) Arranging the check-in & check-out Deep cleaning and inventory list before and after tenancy Maintenance and repairs at competitive rates Annual safety tests Mid-occupancy inspections for occupancies over two months No occupant contact required Even property manager to property ratio Negotiated deposit claims

...AND PEACE OF MIND Safety Regulation As government bodies and industry regulators tighten the reins on safety requirements, our team is on hand to advise the landlords on current safety regulations. Qualified Tradesmen Contractors engaging on behalf of a landlord will meet strict quality control criteria, covering everything from trade qualifications to adequate liability insurance. Negotiations As managing agents, Driven Holiday Homes creates a distance between landlords and occupants throughout negotiations, which the team conducts on the owner’s behalf. Our goal is to manage this process in the most effective and efficient way to create a smooth synergy between all parties.

November 2016 Issue

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DHH DRIVEN HOLIDAY HOMES

DIFC BURJ DAMAN 5007 __________________________________ AED 16,000 per month AED 799 per night This brand new one bedroom apartment is located in the heart of the financial center of Dubai. The floor to ceiling windows in the beautifully decorated unit offer views of the lush Zabeel Park and the Burj Khalifa and allow in streams of natural light to fill the space. Burj Daman is one of the most exclusive mixed-use towers in the city, offering luxurious facilities for offices and residential suites. Upscale dining outlets, spas, and a health club surround the building. • • • • • • •

BUA: 775 sq. ft. Close to Sheikh Zayed Road and metro station 24 hours maintenance Parking space Swimming pool Gymnasium Prayer room

Dubai Marina BOTANICA __________________________________ AED 25,000 per month AED 850per night This superb two bedroom apartment is situated in one of the most sought after buildings in Marina: Botanica Tower. With incredible views of the Arabian Gulf and the Marina, the unit is furnished with designer pieces and is equipped with all necessary appliances. Guests have access to the swimming pool and wellness centre, along with the dining and retail outlets around the tower. One of the drawing factors is the proximity of the beach, which is just a short walk away, and neighborhood favorites Sky Dive Dubai and The Walk at JBR. • • • • •

* Prices subject to seasonal rates 44

November 2016 Issue

BUA: 1,209 sq.ft. Closed-plan, fitted kitchen Large balcony Swimming pool and Jacuzzi Gymnasium

+971 (0)4 429 7040 www.drivenproperties.ae

Old Town AL TAJER __________________________________ AED 28,000 per month AED 950 per night Located in Al Tajer Residences, this upgraded two bedroom penthouse is ideal for vacation stays. Featuring luxuries such as a private Jacuzzi, the apartment offers high-end furniture and appliances as well as a balcony, perfect for enjoying the dazzling views. The development reflects architectural designs of 20th century Arabia, setting it apart from the modern buildings surrounding it. Al Tajer Residences is close to Downtown hotspots such as Dubai Mall, Souk Al Bahar, and Dubai Fountains. • • • • •

BUA: 2,016 sq ft Fully fitted kitchen Wooden floors Swimming pool & Gym Accessible by Dubai Metro and major highways

Palm Jumeirah MARINA RESIDENCE __________________________________ AED 60,000 per month AED 4,000 per night Newly furnished and stunning 4 bedroom penthouse is located in Marina Residences on the Palm Jumeirah. The penthouse features a fully-equipped kitchen with appliances, 4 en-suite bedrooms, a living room and a spacious balcony. Fantastic sea views, modern interior design, high quality furnishings and prime location are not the only features of this beautiful penthouse; the rest includes the following:

• • • • • •

BUA: 7,000t sq ft Brand new Floor-to-ceiling windows Breathtaking views Large terrace Swimming pool, gym, sauna

* Prices subject to seasonal rates

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Before Standpoint

Before

&

After

After

This is a spacious two bedroom apartment that has the perfect location in Downtown Dubai, overlooking the Dubai Mall and the famous Fountain. The views from the balcony are truly spectacular, especially in the evening. The challenge with this apartment was adding light to the space as it was quite dimly lit with no spotlights. The transformation began with a fresh coat of paint on the wall to give the perception of a larger space with an accent wall behind the sofa, breaking the monotony in the open space apartment and serving as the backdrop for the stylish black and white prints. The light, gauzy gray curtains paired with the intense, dark color of the wrap around sofa set perfectly complements the delicate touch of the white arm chair and plush pink scatter cushions. Finally, we added a pretty pendant light and a floor lamp to enhance the décor and improve the lighting at night. The airy and luminous theme was carried through to the dining area. The large opening allows in streams of natural light, making the area feel more spacious and relaxing. We kept it simple by just adding a retro chandelier and large art piece for effortless elegance.

Before

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November 2016 Issue

After

Driven Interiors have had the opportunity to work on furnishing and decorating apartments that had great potential, but needed a great deal of work. The spaces in the apartments featured here made great canvases, with distinct layouts and large windows allowing in streams of natural light to fill the space. Despite the very different aesthetics, these apartments ended up with very unique and fresh looks.

Palm Views West

Before

After

This 26 square meter studio apartment in Palm Jumeirah is a gem. The color palette is mainly neutral, featuring shades of white, beige, and gray with little splashes of color through the orange crater cushions and potted plants. The combination of these colors and the addition of mirrors makes the room appear more spacious and inviting. We maximized the living space by using a three seater sofa, which was complimented by the vintage linen cushions and a cozy arm chair. To properly utilize the space, we put in a cabinet and a small cupboard for storage. The bedroom was kept simple and sophisticated with neutral colors. The crisp white linens against the soft tufted headboard is neat and inviting. Finally, the round pendant light and the ceramic table lamps complete the shabby chic look of this room.

Before

After

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47

Standpoint

Before

After

Despite the copious amount of sunlight coming through the large windows, this unit lacked light and life. The team made it our mission to bring neutral and bright pieces and accents to the apartment in order to liven up the space. The ceiling design, cream tiles, and carpeting made for a good base, and we played off them when choosing the lighting fixtures and furniture. The colors we used in the living room are all shades of grey and off-white, with a few complementary darker pieces. We made use of the expansive, open space and added a modern dining set and adorned the wall with contemporary artwork.

Before

The bedroom features primarily beige pieces, mainly the bed and drapes, as well as a few warm accent items to maintain the relaxing look. We made sure to add a couple mod-inspired pieces, such as the light cover, lamp, and bedside table, to give the space a unique character. Get your apartment in tiptop shape for short term or long term lets and increase your returns for as low as AED 32,500*.

After

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November 2016 Issue

To receive a quotation, please contact: [email protected]

LUXURY at its finest

From Paris to New York, we aim to offer our clients a selection of luxury properties not only in Dubai, but across the globe. From classic, rustic homes to modern penthouses overlooking the city, these homes are centrally located, making them the perfect vacation homes.

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International Properties PARIS

Located in a prestigious building facing the OECD, this elegant apartment is a haven in the heart of Paris. Perched on the fifth floor, the luxuriously fitted home spans over 3,552 sq.ft and offers four bedrooms and bathrooms, a living room, and a dining room. The unit is lined with spacious balconies, perfect for relaxing and enjoying panoramic views of the city. Price upon request 50

November 2016 Issue

Features • • •

Central location Balconies 2 cellars

International Properties PARIS

Just steps from the Place Victor Hugo, this south-facing apartment is located on the top floor of a luxury building in Paris. With enviable views of the Eiffel Tower, this furnished apartment comprises of a spacious reception area, kitchen, and a large master suite with balcony access. This unit has a 1,259 sq.ft. terrace and a 215 sq.ft veranda, ideal for lounging and entertaining.

Features • • • •

View of Eiffel Tower Storage box in building Terrace and veranda Balcony

Price upon request November 2016 Issue

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International Properties NEW YORK

40 East 61st Street Penthouse Located between Madison and Park, this Upper East Side prewar duplex apartment is a real gem. Dubbed ‘Maison Prive’, this unit was previously two separate 3 bedroom, 3 ½ bathroom penthouses that were later combined and renovated to create a palacial 4,500 sq.ft. home. With expansive windows offering views of the North, South, East and West of the city, the entire home features the finest

luxury materials, bespoke interiors, and a state of the art sound system. The three bedrooms on the main floor all have their own private terraces and bathrooms, as does the private office, which can be converted into a forth bedroom. The his/ her private bathrooms feature steam showers, large individual dressing rooms, and heated floors. The top floor has a large living room with a real fireplace, bay windows overlooking Central Park, a media room, a formal dining room (seating 22 people), an eat-in kitchen with appliances, and a butler’s pantry with a wine cellar. The entire top floor opens up to create a unique full indoor/outdoor home.

Living Space

Amenities

• • • •

• • •

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5 terraces 9 television sets State of the art sound system Fireplace

November 2016 Issue

POA

Private elevator WiFi & cable Alarm system & security

International Properties NEW YORK

10 Sullivan, SoHo Penthouse Situated in the heart of SoHo, 10 Sullivan stands 16 stories tall, making it the area’s tallest residential building. This new boutique development offers a variety of luxury homes in a unique, contemporary structure, making it the perfect addition to the SoHo’s unique architectural character. From apartments and duplexes to full-floor penthouses with private elevator access, these units all offer panoramic views from the floor-to-ceiling, wraparound windows. The central location of this project gives residents easy access to one of the best arts, culture, retail, and dining hubs in the world.

Living Space

Amenities

• • • • • • • •

• • • • •

11 ft. ceilings Home automation system Heated flooring Oak floors & walnut cabinetry Motorized shades Terraces Freestanding tub & steam shower Marble bathroom floor & countertops

Concierge & doorman Alarm system & video security Fitness center Garage Private storage

POA November 2016 Issue

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POLO RESIDENCE

OVERVIEW Located in the heart of Meydan City, Polo Residences comprises of 29 contemporary buildings. The 4 storey buildings each offer a choice of one, two, and three bedroom apartments, fully surrounded by over a million square feet of bright green meadows.

INTERIORS These homes are uniquely built with low rise buildings and large glass windows that are designed to allow in maximum natural light. All the units come with the option of furnishing and interior design that reflects the contemporary and serene atmosphere of this project.

THE LOCATION Polo Residences is located just across the street from Meydan Hotel, home to one of the world’s best equestrian facilities and global races. The first phase of the Meydan master project is scheduled for completion before the year 2020, and will feature a record-breaking 711 m tall residential tower, major mall with a retractable roof, dancing fountain, 4 km long canal, and the world’s largest indoor ski slope.

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November 2016 Issue

EXCLUSIVE PROJECT with

DRIVEN PROPERTIES

FACTS AND FIGURES

29

BUILDINGS

4 STOREY

27%

OF THE TOTAL AREA IS LANDSCAPED

BUILDINGS

NEXT TO

1,500,000 sq.ft.

SHEIKH HAMDAN’S MAJLIS & SPINNEYS HEADQUARTERS

GROSS LAND AREA

FACILITIES a Parks & gardens a Swimming pools a Fitness & wellness centers

a Jogging & cycling tracks a Spas a Sporting facilities

a Business park a Community centre a Kindergarten a Restaurants & cafes

THE POLO RESIDENCES - PAYMENT PLAN

For those seeking serenity, convenience, nature, and boundless comfort, the Polo Residences in Meydan is the perfect option. It not only offers an exclusive address in a renowned community development but also a lifestyle unparalleled by any existing project. November 2016 Issue

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HERA TOWER DUBAI SPORTS CITY

Dubai Sports City is a destination of enduring passion and spirit, a place whose soul and heart is expressed in timeless rituals, modern heroes, and rich iconography. A place where legends are made, sport is life, and champions live. The latest addition to Hera Tower is a residential tower set to be the latest addition to Dubai Sports City. The project’s namesake is none other than the wife of mythological Greek god Zeus, being a figure that has had many structures created in her name throughout the centuries. With development commencing on May 2016 and completion scheduled for July 2018, Hera Tower offers 483 units consisting of studios, 1, and 2 bedroom apartments. The unit sizes and layouts are designed with high end finishes, with the units also boasting balconies and terraces. The building itself offers its residents many amenities that provide the essence of comfort and relaxation. Hera Tower is the perfect option for those looking for an elegant lifestyle. It not only offers a variety of apartments, but also encourages a vibrant and active lifestyle supported by the excellent amenities and services.

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November 2016 Issue

EXCLUSIVE PROJECT with

DRIVEN PROPERTIES

SPORTS CITY Hera Tower is located in the established community of Dubai Sport City. Just off Sheikh Mohammed bin Zayad Road, Dubai Sport City spans over 50 million sq.ft. and is home to 15,000 people across a thousand villas and six thousand apartments. Dubai Sport City boasts commercial and residential developments in addition to the sporting facilities, world-class medical facilities, leisure opportunities, hotels, international schools, and the next Generation Club. Being the world’s first purpose-built sports city, it features many popular Dubai residential communities such as Fortuna Tower, Canal Residence, Victory Heights, and soon enough, Hera Tower.

COMMUNITY HIGHLIGHTS

AMENITIES

•

a Luxury lobby a Swimming pool a Health club with steam & sauna a 24 hour security a Children’s play ground a Allocated parking space a A unique, high quality finishes

• • • • •

Multiple stadiums, with capacities ranging 10,000 to 60,000 people Miracle & Butterfly Gardens The Arena Mall in Sports City Victory Heights Primary School, Wonders Year Nursery, and the upcoming Bradenton Preparatory Academy Medical clinic 10 mins drive to Dubai International Airport

448-541 Sq.ft.

833-1,008 Sq.ft.

AED 365,256 - AED 440,586

AED 656,228 - AED 794,576

1,526-1576 Sq.ft. AED 1,035,108 - AED 1,069,209

PAYMENT PLAN

November 2016 Issue

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EXCLUSIVE P R O P E R T I E S

Some of the best residential and commercial units in Dubai currently up for sale.

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November 2016 Issue

To see our full list of available exclusive properties, please visit www.drivenproperties.ae

DIFC Index Tower

AED 5,500,000

This spacious fully furnished apartment is the perfect combination of simplicity and luxury in a modern setting. Offering sensational views of the sparkling sea and Sheikh Zayed Road, this unit is located in one of Dubai’s most exclusive areas. Featuring a fully fitted kitchen and carpeted floors, the expansive living space is one of the apartment’s key features, offering 4 bedrooms, a maid’s room, and study rooms. Residents can enjoy exclusive communal facilities, including a swimming pool. The building is located in proximity to major malls, financial districts, dining and retail outlets, as well as the Metro.

• • • • •

3 bedroom apartment BUA: 3,100 sq. ft. Sea & Sheikh Zayed Road View Maid’s & study rooms Fully fitted kitchen

Ref#: DP-S-17665

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Exclusive PROPERTIES

DIFC Limestone House

AED 4,300,000

Situated in the heart of Dubai’s financial center, this three bedroom apartment enjoys the views of the iconic DIFC and Downtown Dubai skyline. The unique layout of the apartment presents an amazing use of space, which also features clean finishes, polished hard wood flooring, and large windows throughout the apartment. Residents have access to the building’s modern facilities, including a health club with a sauna and Jacuzzi, fitness center, and swimming pool. This unit’s central location ensures accessibility and convenience, being in close proximity to major highways, Dubai Metro, and the best retail and dining outlets the city can offer.

• • • •

Ref#: DP-S-14228

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November 2016 Issue

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3 Bedrooms BUA: 2200 sq ft Maid’s room 24-hour security and CCTV cameras Front desk

To see our full list of available exclusive properties, please visit www.drivenproperties.ae

Business Bay Clover Bay Tower Nestled in Dubai’s business hub, this fully fitted office is located in Clover Bay tower in Business Bay. Spreading over 2,500 sq.ft, this furnished office offers a board room, meeting room, reception area, a pantry, and wall to wall windows. This unit benefits from a great location and proximity to the city’s finest dining and retail outlets in Downtown Dubai and DIFC as well as the Metro and major highways.

AED 2,600,000 • • • • • •

Office Space BUA: 2,420 sq. ft. Old town and Lake View Prime location Large Reception Area Allocated Parkings

Ref#: DP-S-19083

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Exclusive PROPERTIES

Jumeirah Islands Entertainment Foyer- Mediterranean

AED 7,950,000

Set along the beautiful lake, just steps from the water’s edge, lies this upgraded 5-bedroom villa with stunning landscaped gardens. Nestled in the Mediterranean cluster of the ever-picturesque Jumeirah Islands, this villa features amazing interiors and finishes. The open and airy rooms are fitted with large windows, flooding the house with natural light, and the expansive outdoor area and private pool offer ideal space for entertaining or relaxing. The self-contained community features lake views, quaint walkways, and verdant greenery.

• • • • • •

Ref#: DP-S-15040

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November 2016 Issue

5 bedroom villa BUA: 6,000 sq. ft. Partial lake view Upgraded Extended Master Bedroom Private landscaped garden and pool

To see our full list of available exclusive properties, please visit www.drivenproperties.ae

Dubai Marina Marina Quay West

AED 3,500,000

With minimalist design and high-end finishes, this upgraded apartment comprises of 2 bedrooms and 3 bathrooms. With a built-up area of 1,565 sq.ft. this property offers panoramic views of Dubai Marina and is situated close to the beach front. Available amenities include squash courts, garden, and a pool.

• • • • • •

Ref#: DP-S-17911

2 Bedroom Apartment BUA: 1,565 sq. ft. Full Marina View Vacant On Transfer Concierge Service Upgraded & Lovely Fixtures

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Exclusive PROPERTIES

Downtown Burj Dubai 29 Boulevard Tower 1

AED 3,099,999

This amazing 2 bedroom apartment is perched up high, allowing breathtaking views of the Fountain, Burj Khalifa, and the unique Downtown skyline. The apartment’s minimalistic finishes and furnishing gives the entire home a modern feel while the balcony offers a space to relax and gaze upon the vibrant Downtown area below. The ultra-convenient location gives its residents access to Dubai Mall and the city’s most exclusive restaurants, boutiques, and entertainment facilities.

• • •

Ref#: DP-S-17565

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November 2016 Issue

• •

2 Bedroom Apartment BUA: 1,113 sq. ft. Full Fountain and Burj Khalifa View Fully Furnished Unit 2 Bathrooms

To see our full list of available exclusive properties, please visit www.drivenproperties.ae

Downtown Burj Dubai Boulevard Central Tower

AED 1,099,000

Just steps away from Burj Khalifa, this studio apartment is located in one of the most sought after residential towers, Boulevard Central. Overlooking Old Town and Dubai Fountains, this apartment is ideal for those seeking the ritzy and exciting lifestyle of Downtown Dubai–often referred to as the “Center of Now”. The apartment’s minimalistic finishes and furnishing gives the entire home a modern feel while the balcony offers a space to relax and gaze upon the vibrant Downtown area below. This well-planned apartment also has a fully equipped kitchen and built-in wardrobes.

• • • • • • •

Studio apartment Area: 329 sq.ft. Podium level facilities Fully fitted kitchen Polished wood flooring Children’s play area Security and maintenance

The tower is set right on the buzzing Mohammed Bin Rashid Boulevard, which is lined with cafes, restaurants, and boutiques. Ref#: DP-S-15640 November 2016 Issue

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Exclusive PROPERTIES

DIFC Limestone House

AED 3,000,000

Nestled in the vibrant and exclusive DIFC community, this 2 bedroom apartment features immaculate design and finishing. The wooden floored unit is located in the prestigious Limestone House and not only offers spacious rooms but also a large balcony to relax and enjoy views of the city. Limestone House offers high-end communal facilities, including a fully equipped gymnasium and swimming pool.

• • • • •

Ref#: DP-S-18375

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November 2016 Issue

2 bedroom apartment BUA: 1,615 sq. ft. 3 bathrooms DIFC view Wooden flooring

To see our full list of available exclusive properties, please visit www.drivenproperties.ae

Dubai Marina Botanica

AED 1,700,000

This duplex apartment has a design to be reckoned with. The open bedroom is situated on the upper floor, with a well-crafted spiral staircase leading down to the living space and open-plan, fitted kitchen. The entire unit features neutral and grey tones in the design and the fixtures, as well as a capacious private terrace.

• • • • •

Dwellers of Botanica Tower can enjoy access to a state of the art health and fitness club, swimming pool, and Jacuzzi. One of the drawing factors is the proximity of the beach, which is just a short walk away, and neighbourhood favorites Sky Dive Dubai and The Walk at JBR. Both Sheikh Zayed Road and Al Sufouh Road are also close by, allowing access to Dubai’s main neighbourhoods in just a short drive.

• •

Open Bedroom BUA: 1,083 sq ft Ensuite bathroom Duplex apartment 24-hour security and front desk Health & fitness club Swimming pool & Jacuzzi

Ref#: DP-S-17946 November 2016 Issue

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Exclusive PROPERTIES

Dubai Marina Bay Central

AED 1,450,000

This unit is a major departure from the regular Marina apartments. Comprising of one bedroom and an open-plan kitchen, the aesthetic of the space is warm and comforting due to the rustic-style furnishings, wood accents, and glittering chandeliers. The walls are covered in a heavily detailed wallpaper and large art pieces, bringing a high level of character to the room. With views of the Marina, this mid-floor apartment is located in Bay Central, which is ideally located close to the Marina Promenade, Marina Mall, and the beach.

• • • • • •

Ref#: DP-S-15748

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November 2016 Issue

1 bedroom BUA: 651 sq.ft. Fully furnished Health & fitness club Swimming pool Walking distance to Marina Mall and beach

To see our full list of available exclusive properties, please visit www.drivenproperties.ae

Palm Jumeirah Kempinski Palm Residence

AED 9,750,000

Located in the Kempinski on Palm Jumeirah, this four bedroom apartment is luxury redefined. This exquisitely furnished home features a fully upgraded interior, private gazebo, and outdoor entertaining area. The kitchen is fully fitted with top of the line fixtures, appliances, and cabinets. Breathtaking panoramic views of the sea are visible from the unit’s private terrace.

• • • • •

4 Bedroom Apartment BUA: 4,919 sq. ft. Sea View 2 parking spaces High speed elevators

The Kempinski Palm Residence is a one of a kind luxury resort, offering fine dining spots, bars and lounges, a private beach, wellness centre, and gym, as well as a freeform pool with a swimup bar. Ref#: DP-S-13029

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Exclusive PROPERTIES

Akoya By DAMAC Rochester

AED 2,500,000

This home is located in the upcoming project of Rochester, Akoya by megadeveloper Damac. The design of these villas in this community are ultramodern and clean, with wall to wall windows bringing the sunlight to fill the living space. Covering over 2,000 sq.ft, this three bedroom villa is semi-detached to ensure privacy. The Akoya development focuses heavily on green spaces, which is evident in the amount of private and communal lush landscaped areas around this home.

• • •

The current price is the best in the market, and this unit will exponentially increase in value upon completion, which is expected in the third quarter of 2016. Ref#: DP-S-12496

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November 2016 Issue

3 Bedroom Villa BUA: 2,041 sq. ft. Garden & Community View

To see our full list of available exclusive properties, please visit www.drivenproperties.ae

Palm Jumeirah Oceana Adriatic

AED 8,200,000

This exquisite apartment is located in the waterfront community of Palm Jumeirah. Along with idyllic views of the Dubai Marina skyline, the breathtaking Arabian Gulf is visible from the floor to ceiling windows and balcony of this three bedroom unit. The layout of this spacious apartment allows for built-in kitchen appliances, high ceilings, fitted bathrooms, storage spaces, and an expansive living room flooded with natural light.

• • •

The facilities and amenities of this building are second to none, with residents having private access to the beach, swimming pool, and communal areas. The Palm community features luxury hotels, shopping, and dining outlets in very close proximity.

• •

3 Bedroom Apartment BUA: 2,451 sq. ft. Sea, Atlantis and full skyline of Marina view Unfurnished Type A Private Beach Access

Ref#: DP-S-12671

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DRIVEN’S OFF PLAN

PICKS MARQUISE SQUARE DOWNTOWN DUBAI Marquise Square is the stylish new project offering studio, 1, 2 and 3 bedroom apartments with lavish features, great amenities and a spectacular skyline view of Dubai’s most popular tourist attractions. With an exciting environment and the centre of Dubai’s growing nightlife, Marquise Square will be the new hot property that Downtown Dubai has to offer.

Location

Highlights

Located in the heart of Downtown Dubai, Marquise Square will have close proximity to Dubai’s major landmarks like the Dubai Mall and the Burj Khalifa.

•

Developer

•

•

SRG Properties L.L.C are the developers behind the Marquise Square project. They boast an impressive portfolio of previous projects like the Sheraton Grand Hotel, Burj Al Salam Towers at World Trade Centre, Marina Heights at Dubai Marina and Chelsea Tower Hotel & Apartments at Sheikh Zayed Road.

Good payment plan with boooking fees starting from only AED 50,000 Close proximity to Dubai’s biggest tourist attractions like the Dubai Mall, Burj Khalifa and the Dubai Water Canal. Walking distance to some of the biggest brands and world famous restaurants and retail stores.

CASA DORA SERENA The Dubailand townhouse project Serena, have launched a new phase called Casa Dora after the success of their previous project Bella Casa. This phase features sleek and stylish 1 to 3 bedroom townhouses for sale that are inspired by Portuguese architecture set amongst picturesque landscapes and amenities within the vicinity. Casa Dora provides a comfortable family friendly environment for all kinds of communities.

Location

Highlights

Casa Dora is situated in Serena, Dubailand between Al Qudra road and Emirates road. A 30 minute drive to Downtown Dubai, while 15 minutes to the Expo 2020, this location will provide easy access to Dubai’s most popular areas.

• • •

Developer Established since 2002, Dubai Properties have been the developers for some of Dubai’s biggest residential, commercial, retail and hospitality projects in areas like Business Bay, Jumeirah Beach Residence (JBR), Culture Village and Dubailand.

•

Feasible payment plans that start with a 10% down payment. Beautiful and modern Portuguese style 1 to 3 bedroom townhouses. Family friendly amenities like gym, pools, parks, play areas and town centres. Close proximity to other residential communities like Arabian Ranches, Mudon and Town Square.

DRIVEN’S OFF PLAN

PICKS DUBAI HILLS ESTATE Nestled on the southwest side of Mohamed Bin Rashid City, Dubai Hills Estate is a highly anticipated project by Emaar Properties and Meraas Holding. This stylish community comprises villas, low to mid-rise residences, hotels, and retail and commercial centres. Spanning over 11 million sq.m., residents of this community can enjoy the vast stretches of landscaped parks and gardens and the winding walkways.

Highlights Location

Sub-Projects

The location of this development is unbeatable due to its close proximity to Al Khail Road, Mohamed bin Zayed Road, Umm Suqeim Road, and the upcoming Etihad Rail, bringing all of the city’s hotspots within easy reach.

• • • • • • • •

Acacia at Park Heights Fairways Vistas The Fairways Maple at Dubai Hills The Parkway at Dubai Hills Mulberry at Park Heights Sidra Villas Park Point

In addition to being in close proximity to top shopping destinations such as The Dubai Mall and Mall of the Emirates, the up-coming Mall of the World will be located within MBR City. Mohammed Bin Rashid City will also feature lush parklands, a high-end retail & dining pavilion, a world–class equestrian club, manmade lakes and beaches, a championship golf course, and four schools within the community.

Developer to watch: ELLINGTON PROPERTIES Ellington Properties is a boutique property developer that takes pride in their artisanal design and aesthetics. It’s obvious through Ellington’s various projects that each and every unit was created with a perfect balance between innovative design and high-end materials.

RP HEIGHTS 3 Central location 3 World-class dining and shopping outlets 3 Incredible facilities 3 Unique architecture It can’t get better than RP Heights.

BELGRAVIA Comprising of one, two, and three bedroom units, Belgravia sits on 100,000 sq.ft. of landscaped land. Each unit is designed to make the best use of space and natural materials and the kitchens feature fine cabinetry, quartz countertops, and built-in kitchen appliances. The project creates the feel of a “community within a community” by offering residents all necessary amenities in very close proximity as well as open communal spaces to encourage residents to interact and connect. Despite this project being sold out, there are talks of Ellington launching more Belgravia buildings in JVC.

Located in the heart of Downtown Dubai, this 50-storey tower offers studios, one, two and three bedroom units and penthouses. The unique characteristics of the units and facilities are parallel to the idiosyncratic architecture of the tower. Located at walking distance from Dubai Mall, and Dubai Metro, RP Heights is also accessible from Al Khail Road and Sheikh Zayed Road. RP Heights provides a modern facilities unlike other Dubai developments, from multiple infinity pools to a library and cafe exclusively for residents.

Facilities • • •

Landscaped spaces Two Infinity pools Outdoor lounges

• • • •

Gymnasium Fitness and yoga studios Massage, steam, and sauna rooms Cafe & library for residents November 2016 Issue

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PROPERTIES FOR SALE Selection of available properties for sale, to see our full list please visit www.drivenproperties.ae

BUSINESS BAY Ref No

Location

Type/Bed

Price

DP-S-17619

Moon Tower

2 BR Apartment

AED 1,500,000

DP-S-18024

Executive K

1 BR Apartment

AED 1,400,000

DP-S-16651

Waters Edge

Studio Apartment

AED 1,050,000

DP-S-16851

The Cosmopolitan

1 BR Apartment

AED 1,250,000

DP-S-18124

Executive C

1 BR Apartment

AED 1,600,000

DUBAI INTERNATIONAL FINANCIAL CENTER Ref No

Location

Type/Bed

Price

DP-S-13059

Index Tower

2 BR Apartment

AED 5,300,000

DP-S-18185

Index Tower

3 BR Apartment

AED 7,000,000

DP-S-16712

Burj Daman

3 BR Apartment

AED 4,200,000

Studio Apartment

AED 1,400,000

2 BR Apartment

AED 3,700,000

DP-S-16674

DP-S-16592

Central Park Residential Tower Burj Daman

DOWNTOWN Ref No

Location

Type/Bed

Price

DP-S-14791

The Residences 4

3 BR Apartment

AED 8,250,000

DP-S-18103

South Ridge 5

2 BR Apartment

AED 2,500,000

DP-S-13164

29 Boulevard Tower 1

2 BR Apartment

AED 4,000,000

DP-S-13511

29 Boulevard Tower 2

2 BR Apartment

AED 2,450,000

DP-S-15345

The Residences 9

3 BR Apartment

AED 6,400,000

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November 2016 Issue

PROPERTIES FOR SALE Selection of available properties for sale, to see our full list please visit www.drivenproperties.ae

DUBAILAND Ref No

Location

Type/Bed

Price

DP-S-17887

The Centro

5 BR Villa

AED 3,350,000

DP-S-17956

The Aldea

5 BR Villa

AED 4,500,000

DP-S-18122

The Aldea

6 BR Villa

AED 5,600,000

DP-S-14291

Living Legends

4 BR Villa

AED 2,850,000

DP-S-17878

Falcon City of Wonders

5 BR Villa

AED 4,300,000

DUBAI MARINA Ref No

Location

Type/Bed

Price

DP-S-17691

Botanica

1 BR Apartment

AED 1,550,000

DP-S-18156

Aurora Tower

1 BR Apartment

AED 1,900,000

DP-S-17900

Al Fairooz Tower

3 BR Apartment

AED 4,950,000

DP-S-14121

Marina 101

4 BR Apartment

AED 18,256,000

DP-S-18172

Marina Crown

4 BR Duplex

AED 4,500,000

PALM JUMEIRAH Ref No

Location

Type/Bed

Price

DP-S-18102

Garden Homes Frond K

4 BR Villa

AED 12,500,000

DP-S-18092

Garden Homes Frond C

4 BR Villa

AED 12,500,000

DP-S-17434

Dukes Oceana

Studio Apartment

AED 1,290,000

DP-S-17896

Tiara Tanzanite

2 BR Apartment

AED 3,800,000

DP-S-17451

Fairmont Residence North

2 BR Apartment

AED 3,100,000

November 2016 Issue

75

PROPERTIES FOR RENT Selection of available properties for rent, to see our full list please visit www.drivenproperties.ae

BUSINESS BAY Ref No

Location

Type/Bed

Price

DP-R-20312

Damac Maison Canal Views

3 BR Apartment

AED 200,000

DP-R-20163

Executive B

1 BR Apartment

AED 100,000

DP-R-20071

Damac Maison Canal Views

Studio Apartment

AED 75,000

1 BR Apartment

AED 100,000

1 BR Apartment

AED 115,000

DP-R-19819

DP-R-20188

Capital Bay Hotel Apartments Damac Maison Canal Views

DUBAI INTERNATIONAL FINANCIAL CENTER Ref No

Location

Type/Bed

Price

DP-R-20279

Sky Gardens

Studio Apartment

AED 82,000

DP-R-20245

Index Tower

1 BR Apartment

AED 135,000

DP-R-20258

Index Tower

2 BR Apartment

AED 180,000

2 BR Duplex

AED 230,000

1 BR Apartment

AED 138,000

DP-R-15924

DP-R-19748

DOWNTOWN Ref No

Location

Type/Bed

Price

DP-R-20263

Claren 2

2 BR Apartment

AED 185,000

DP-R-18817

Lofts East

2 BR Apartment

AED 160,000

DP-R-19887

Burj Khalifa Tower

2 BR Apartment

AED 300,000

DP-R-19447

The Residences 9

4 BR Villa

AED 390,000

DP-R-20191

Burj Views C

1 BR Apartment

AED 110,000

76

November 2016 Issue

Central Park Residential Tower Burj Daman

PROPERTIES FOR RENT Selection of available properties for rent, to see our full list please visit www.drivenproperties.ae

DUBAILAND Ref No

Location

Type/Bed

Price

DP-R-20162

The Centro

5 BR Villa

AED 190,000

DP-R-20275

Rahat

3 BR Villa

AED 210,000

DP-R-17549

Falcon City Villas

5 BR Villa

AED 240,000

DP-R-19536

Mazaya

5 BR Villa

AED 300,000

DP-R-20262

The Aldea

5 BR Villa

AED 249,999

DUBAI MARINA Ref No

Location

Type/Bed

Price

DP-R-19490

Zen

1 BR Apartment

AED 84,000

DP-R-20200

Fairfield

1 BR Apartment

AED 125,000

DP-R-20288

Botanica

Studio Apartment

AED 78,000

DP-R-20062

Al Dar Tower

2 BR Apartment

AED 165,000

DP-R-17710

Time Place

3 BR Apartment

AED 180,000

PALM JUMEIRAH Ref No

Location

Type/Bed

Price

DP-R-16718

Signature Villas Frond A

6 BR Villa

AED 1,000,000

DP-R-20237

Al Das

4 BR Apartment

AED 395,000

DP-R-15871

Marina Residence 3

2 BR Apartment

AED 175,000

DP-R-20277

Al Haseer

1 BR Apartment

AED 140,000

DP-R-6327

Palma Residences

5 BR Townhouse

AED 450,000

November 2016 Issue

77

COMMERCIAL FOR SALE & RENT Selection of available commercial properties, to see our full list please visit www.drivenproperties.ae

OFFICE SPACE Ref No

Location

Area (BUA)

Price/yr

DP-R-19977

Al Barsha

2,500 sq.ft.

AED 300,000

DP-R-20039

Jumeirah Lake Towers

790 sq.ft.

AED 95,000

DP-S-18127

DIFC

3,418 sq.ft.

AED 7,691,288

DP-R-19538

Motor City

3,300 sq.ft.

AED 212,000

DP-R-20084

Bur Dubai

6,500 sq.ft.

AED 780,000

RETAIL Ref No

Location

Area (BUA)

Price/yr

DP-R-20044

Bur Dubai

5,100 sq.ft.

AED 816,000

DP-R-19685

Dubai Investment Park

2,830 sq.ft.

AED 424,500

DP-S-17616

Dubai Investment Park

1,724 sq.ft.

AED 2,413,444

DP-S-16171

Dubai Investment Park

1,508 sq.ft.

AED 2,789,707

DP-R-18293

Deira

6,000 sq.ft.

AED 500,000

LAND Ref No

Location

Area (BUA)

Price/yr

DP-S-9243

Sheikh Zayed Road

37,650 sq.ft.

AED 27,000,000

DP-S-17346

Al Barsha

48,000 sq.ft.

AED 75,000,000

DP-S-18132

Dubai Industrial City

8,000 sq.ft.

AED 1,000,000

DP-S-16121

Jumeirah Village Circle

110,000 sq.ft.

AED 33,000,000

DP-S-7935

Dubai Land

200,000 sq.ft.

Dubai Land

78

November 2016 Issue

COMMERCIAL FOR SALE & RENT Selection of available commercial properties, to see our full list please visit www.drivenproperties.ae

HOTEL Ref No

Location

Area (BUA)

Price/yr

DP-R-19947

Deira

70,001 sq.ft.

AED 12,000,000

DP-S-18010

Palm Jumeirah

1,161 sq.ft.

AED 3,050,000

DP-R-20089

Sheikh Zayed Road

1,819 sq.ft.

AED 295,000

DP-S-17291

Palm Jumeirah

510 sq.ft.

AED 1,600,000

DP-S-18107

Business Bay

2,092 sq.ft.

AED 4,800,000

WAREHOUSE Ref No

Location

Area (BUA)

Price/yr

DP-R-19744

Al Quoz

10,269 sq.ft.

AED 475,000

DP-R-19327

Dubai Investment Park

7,500 sq.ft.

AED 370,000

DP-S-17687

Dubai Investment Park

365,000 sq.ft.

AED 135,000,000

DP-S-17541

Jebel Ali

27,000 sq.ft.

AED 4,000,000

DP-S-13481

Jebel Ali

40,000 sq.ft.

AED 14,000,000

LABOUR CAMP Ref No

Location

Area (BUA)

Price/yr

DP-R-19726

Dubai Investment Park

27,860 sq.ft.

AED 2,520,000

DP-R-19828

Jebel Ali

84,000 sq.ft.

AED 5,500,000

DP-S-17837

Dubai Investment Park

38,000 sq.ft.

AED 30,000,000

DP-S-17832

Dubai Investment Park

38,000 sq.ft.

AED 26,000,000

DP-S-18170

Dubai Investment Park

48,000 sq.ft.

AED 32,000,000

November 2016 Issue

79

REAL ESTATE ENTHUSIASTS AREA SPECIALISTS

Leading property experts in Dubai

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