Dubai plan deserves a sporting chance
DISNEYLAND for adults? Field of Dreams? Whatever you call it, Dubai is a fantasmagorical place and, possibly, the world’s largest building site.
Take the determination of Sheikh Mohammed, the sensibilities of a child, stir in billions of petro-dollars and a hot shot marketing campaign and you have the world’s hottest resort. Literally.
Dubai is built in the desert, but you’d hardly know it, because, like Las Vegas, it pretends to be so many things. The Swiss Alps even.
Dubai is the Yukon of property markets. There are construction sites everywhere and their proudest development is a building which will be the world’s tallest tower when completed. And it will sit in the middle of a New York-style skyline as Dubai’s buildings reach up to take on the Americans.
Yet, it’s still a medieval state: government is a sheikhdom, with Prince Mohammed at the top of a pyramid with the royal family fanning down and outwards. A benevolent dictatorship, the prince is much-loved in his own country, and to a certain extent, here also. He owns a stud farm and, if local gossip it to be believed, the United Arab Emirates, of which he is Prime Minister, has property investments running to about 13% of Ireland.
Politically-speaking, Dubai is a developer’s dream in that planning matters are fast-tracked with no messy appeals system to get in the way. That’s not to say that their isn’t an approval system, there is, but it takes weeks, not years, for a massive project to gain approval and then work begins immediately on a 24-four hour, eight-shift basis. Whole lanes of the motorway are given over to construction lorries and, ironically, they have to import the sand, so someone is really selling sand to the Arabs.
Again, this is not a country for wet liberals: the labour on the sites is done by Indian and Pakistani workers who toil all year round for the equivalent of €100 a week. And they are tied to their employer, but still come to Dubai because it’s better than home.
The country is run by the Royal Family, but the administration of major schemes is in the hands of experienced expatriates and the pay and conditions are so good, there’s a broad cross-section of Europe and, Australians and South-Africans working in Dubai.
The Arabs make up only 20% of the population of the Emirates, with the rest comprised of guest workers. This influx, in a pattern just like home, is driving the residential property market.
Add to this a stunning marketing campaign for European investors and you have a construction industry that’s booming.
You only have to swim in the placid waters of the Gulf of Arabia to know why. As a mid-winter resort it’s hard to beat, temperatures of around 25 degrees centigrade and balmy evening breezes are the perfect antidote to dreary Irish winters. Add to that a touch of Arabian nights, a superb infrastructure, (albeit still in progress) and as many attractions as the mind can hope for and you’ve got an unbeatable destination.
According to Larionovo, the Irish-based company which now has exclusive rights to Dubai’s Sports World Development, capital appreciation has been as high as 30% and the bases of recent sales they expect that to continue.
They sold out an apartment scheme in Dublin early this year and are now launching their latest project, villas and canal-side apartments in Sports City, Dubai.
A massive €2 billion project, it will be the world’s first purpose-built, integrated sports city and contains a large residential element, around a golf course, as well as three major stadia, a Manchester United Soccer School, Olympic-size swimming pools and a tennis academy.
The lynch pin will be a purpose built, cricket stadium which will cater to 25,000 spectators and a similar-sized outdoor stadium for rugby, soccer and track and field.
Raymond Norton and Andrew Brett are the Ennis-based duo heading up Larionovo and they are beamingly confident about their new product.
Four and five-bedroomed houses of around 2,700 square feet are now on offer from €355,000 and a number of detached villas overlooking the golf course are being released at prices ranging from €560,000 to €957,000.
* The company is also the sole agent for Sport City in the UK and have offices in Dublin, Ennis, London, Marbella and Dubai. Contact www.larionovo.com
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