Samir Salya, Chairman Reign Holdings, Interviewed with Emarat Al Youm-Dubai Newspaper

http://www.emaratalyoum.com/business/local/2017-03-01-1.974232

The value of real estate’s transactions in Dubai in February 2017
reached 24.563 Billion Dirhams, registering a growth of 74% compared to the corresponding month of 2016.

 

The experts confirmed that the real estate market in Dubai is very strong, especially in the new suburbs of Dubai.

 

They attributed the reason behind achieving good monthly rates to the state of optimism among investors about the real estate market in the Emirate, and the good revenue achieved by real estate investment, in addition to the flexibility of the real estate finance.

 

The Real Estate’s Transactions

According to statistics of the Dubai Land Department about the real estate transactions including the sales and mortgages in the Emirate; the movement has maintained its pace in achieving good monthly rates since the beginning of this year, and recorded 24.563 billion dirhams in February compared to 26.636 billion dirhams in January, taking into account the fact that February is 28 days long.

 

The statistics revealed that the transactions recorded a jump during the February comparing to the same month in 2016, in which the transactions recorded 14.1 billion dirhams, i.e. a growth rate of 74%.

 

The statements of the Dubai Land Department showed that real estate transactions during February 2017 were distributed between sales transactions amounted 11.797 billion dirhams, and mortgages valued
at 12.766 billion dirham.

 

Good Returns

The Chairman of the Board of Directors of «Reign Holding», Samir Salya, attributed the growth of real estate transactions in Dubai in February 2017 comparing to the same month in 2016, and maintaining the good pace, to several factors, most notably the optimism about the real estate market in the Emirate, and trends to take advantage of the good rental revenue, to achieve strong profits from investment in buying real properties.

Salya stressed that the real estate leasing market in Dubai is very strong, especially in the new areas in the outskirts of Dubai, which experience high growth, such as Dubai Sports City, and «Jumeirah Village Circular», «Discovery Gardens», and «International City», in which the rental revenues range between 9 and 10%, which made these companies and funds buying real properties in these new areas, in order to achieve good rental and investment yield.

Optimistic View

The Chief Executive Officer of «Standard Real Estate Management Co.», Abdul Karim Al-Mulla, said that real estate investors began to abandon their cautious attitude to buy real properties, which is witnessed by the real estate market in the past few months, relying on the optimistic view about the continuation of the growth momentum in Dubai until 2020, especially with the economic boom in the Emirate over the past five years in the aviation and tourism sectors, and this growth will lead naturally to the increasing the numbers of persons who wish to visit Dubai.

 

Al-Mulla stressed that the flexibility in finance, in the last period, contributed to the good pace of the transactions in real estate market, and said: «Finally, we have seen some positive signs in this regard, and we ask for more cooperation to reach more flexible repayment plans, which will serve the end-users’ interests»

 

Also, He added that the flexibility of real estate developers had a positive impact on the market, since the developers started to examine the market requirements to ensure smooth transition, which archive the satisfaction of the final buyer of the property, from the beginning of the project until its completion.

 

Satisfying Investors

The Executive Director of «Al Ruwad Real Estate Consultants», Ismail Al Hammadi, contributed to the good pace of the transactions in real estate market to several factors, most notably the high level of optimism among real estate investors about the real estate market, and new projects announced by the developers, which offer appropriate prices and easy methods of financing.

 

He explained that the movement of foreign investments in the Emirate of Dubai plays an effective role in market’s activity, and gives strong impetus to the implementation of projects, especially the residential projects, hotel apartments, and retail shops, which are one of the most attractive sectors for the direct foreign investments in the Emirate.

Samir Salya, Chairman of Reign Holdings, talks about the growing demand for hotel apartments and why all his buildings bear the name of Italian cities

http://gulfnews.com/business/property/serviced-homes-with-a-touch-of-italy-1.1989730

Italy brings me good fortune,” says Samir Salya, chairman of Reign Holdings, the parent company of developer Arthur and Hardman that has announced plans to build 10 different towers in Dubai in the next year. Not surprisingly, the buildings will be named after Italian cities.

The developer recently launched Milano by Giovanni Boutique Suites, a 124-room, fully furnished hotel apartment project in Jumeirah Village Circle (JVC) that is expected to be completed in June 2018. The company has already delivered 400 furnished apartments in Roma by Giovanni Boutique Suites in Dubai Sports City. Naples and Venice are the other two projects in the pipeline.

“We are investing heavily in Dubai and have a land bank worth about $150 million [Dh550.83 million] in the emirate,” says Salya. “We will be building 10 iconic towers in the next 24 months, all named after the beautiful Italian cities of Milano, Roma, Naples and Venice. We have other projects in various stages of development in the design phase. These include residential towers, hotels and skyscrapers in Dubai Marina, Meydan, Business Bay and Dubai South.”

In an interview with PW, Salya talks about his plans of introducing more hotel apartments in Dubai.

Why are you focusing on hotel apartments?

Dubai is continuously growing as the tourism hub of the Middle East. With so many golfing and shopping options, amusement parks and other tourist attractions available here, along with excitement building up for the World Expo 2020, a large number of tourists want to visit the place for longer periods now than before. With most five-star hotels being busy and expensive for people travelling with their families, tourists are always looking out for options. Serviced hotel apartments are, therefore, very popular in this market. As per our study, in JVC several five-, four-, and three-star hotel apartments are going to be developed and the whole area will provide a different category of housing options to visitors and residents.

How will Milano add value to the market?

Milano will offer 124 fully furnished hotel apartments, managed by an international hotel operator. The buyers will have access to various amenities like a café, swimming pool, 24-hour concierge, gym, retail and four floors of parking. We are currently talking to the master developer for including a spa in this building. Buyers have the option to include their unit in a rental pool managed by the hotel operator and receive 10 per cent minimum rental yield on their investment and are allocated a certain number of days to stay in it. They also have a choice to use it as end users or lease it themselves.

What’s the sale price for units in Milano?

Apartment prices start at Dh499,000 for a studio, Dh959,000 for one-bedders and Dh1.232 million for two-bedroom units, offered with an attractive payment plan of 50 per cent until completion and 50 per cent upon handover. The project is 30 per cent complete and we are expecting to hand over in June next year.

Who is buying?

We have sold 30 per cent of the units in Milano. Most buyers are from Europe who have bought units to use it as a holiday home. We’ve also had many Russian and Indian clients and recently we have seen clients from the Far East. The market is always evolving, making Dubai a truly global brand.

Why did you settle for names of Italian cities?

Well, I love Italy. When I started my career, I was in the clothing business with my father in England. We used to be the biggest cloth manufacturers and our clothing brand had an Italian name. It was very successful from the beginning, so I believe that the country brought me good fortune. While brainstorming names for our project under the Giovanni Boutiques suites in Dubai, I decided each tower should bear the name of an Italian city.

What are your views about the Dubai real estate market?

Right now the rental market is very strong, especially on the outskirts of Dubai, such as Dubai Sports City, JVC, Discovery Gardens and International City. These places offer fantastic rental yields between 9-10 per cent.

We also found that a number of investors from the UK have reduced significantly post Brexit. However, the Chinese that were investing heavily in the UK now look at investment opportunities in Dubai. Also, amid all the geopolitical tensions, people find Dubai a safe place and are moving here to live. Dubai is quite centrally located, so even if the UK or European market is slow, there are buyers from the Far East, as well as from the Indian subcontinent. We are positive that this market will have a fair share of buyers and investors.

 

Samir Salya Chairman Reign Holdings Launches Milano Giovanni Boutique Suites, Al-Khaleej Newspaper, 10 Feb 2017

http://www.alkhaleej.ae/economics/page/5e51dcd3-f161-4507-b1e7-51bb6733f9b6

Projects in India, Britain and Bulgaria

(Reign Holdings) is investing One Billion Dirhams in Dubai Real Estates

Dubai: Al Khaleej

Reign Real Estate Holdings Company, based in Dubai has announced its intention to invest about 300 million US dollars (more than one billion Dirhams) in real estate projects in Dubai and UAE within 5 years, while the size of real estate projects developed by the company in the United Arab Emirates, India, Britain, Bulgaria, is over a billion US dollars.

Samir Salya, the Chairman of (Reign Holdings) said: the company has allocated 100 million US dollars for investments in UAE for the year 2017, and recently launched Project (Milano By Giovanni Boutique Suites) at Jumeirah village Circle in Dubai with a cost up to 125 million Dirhams, the Tower offers attractive investment opportunities for investors; we also plan to launch 10 other projects in the State over the next 24 months.

Inspired by the Italian city of Milano, which is famous for its distinctive architecture, the Milano Tower consists of 18 floors, comprising 124 furnished and fully serviced apartments. The building is being designed, in all its details, with the highest Italian standards in architecture; the residential units vary between studios and 1BR, 2BR and 3BR apartments. The project completion rate reached 30% so far, and the whole project is scheduled to be handed over in June 2018.

Salya added: Reign Holdings has launched several projects earlier, which had been completed and handed over, including the residential tower (Roma By Giovanni Boutique Suites) at the Dubai sports city. We also have real estate projects under construction or at the design stage, comprising of hotels and residential towers located in  Marina, Meydan and Business Bay, in addition to lands allocated for development at Jumeirah Palm and the World Islands.

Salya pointed out that Dubai real estate leasing market is very strong in number of new areas of Dubai that witness growth, such as Dubai sports city, Jumeirah village Circle in Dubai, Discovery Gardens and International city, with very good rental returns, varying between 9% to 10%).

 

 

Samir Salya Chairman Reign Holdings Launches Milano Giovanni Boutique Suites, Al-Watan Newspaper, 10 Feb 2017

“رين القابضة” تطلق مشروع “ميلانو باي جيوفاني بوتيك سويتس” السكني في دبي

Dubai- Al Watan

At a cost of more than 125 million Dirhams, “Arthur & Hardman”, the developmental arm for (Reign Holdings) group, announced the launching of its residential project ” Milano Bay Giovanni Boutique Suites” which is full of elegant Italian designs, and features its strategic location at Jumeirah village Circle in Dubai.

Inspired by the Italian city of Milano, which is famous for its distinctive architecture, the Milano residential tower consists of 18 floors, comprising 124 furnished and fully serviced apartments; the tower also provides free private parking for occupiers spread over four floors, “Milano” Café, swimming pool with the temperature set option, luxury spa with sauna and steam rooms, in addition to a modern shopping center in the ground floor. The building is being designed in all its details with the highest Italian standards of architecture; the residential units vary between studios and 1BR, 2Br and 3BR apartments. The project completion rate has reached 30% so far, and the whole project is scheduled to be handed over in June 2018.

On this occasion, Samir Salya, the Board of Director’s Chairman of “Reign Holdings” said: “We are delighted to launch ‘Milano Bay Giovanni Boutique Suites’ in Dubai. This building offers the residents the choice to enjoy all the facilities, modern equipment, and the luxury atmosphere available in the world’s leading hotels while they are in their own homes. The new project is a part of our plan to invest 300 million US dollars in launching other real estate projects in Dubai and UAE over the next five years”.

“Reign Holdings has launched several projects earlier, which had been completed and handed over, including the residential tower (Roma By Giovanni Boutique Suites) which consists of 400 residential units at Dubai sports city”, Salya added.

He pointed out that the company has real estate projects under construction or at the design stage; this includes hotels and residential towers located in Marina, Meydan, and Business Bay, in addition to lands allocated for development at Jumeirah Palm and world Islands.

“Reign” has developed real estate projects in different markets around the world, under its direction for diversification to include different investment sectors, including: health care, recruitment, in addition to real estate investments.

Salya pointed out that Reign considers that the Dubai real estate leasing market is very strong in the specified number of new areas of Dubai suburbs, which is witnessing growth, such as Dubai sports city, Jumeirah village Circle in Dubai, Discovery Gardens and International city, with very good rental returns, varying between 9% to 10%).

Based in Dubai, Arthur & Hardman is working on development of upscale integrated residential complexes of global standards to meet the requirements of residential units and commercial spaces in Dubai. In this context, the company has collaborated with the leading architects, designers and construction companies in the real estate development sector.

 

CityScape Global 2016

Arthur & Hardman was present at CityScape Global 2016 in Dubai, World Trade Centre to launch its 2nd project in Dubai after GBS Roma – Giovanni Boutique Suites Milano.

The Giovanni Boutique Suites encompass an exclusive collection of high end properties, designed and styled by master Italian artists. Milano, just like its names suggests, is inspired by Italian style and it gives its residents a strong sense of luxury, surrounded by the best that life has to offer.

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