Qatar Daily News

Rent increases will be contained in 2010, according to a decree issued on Wednesday, which says that rent can only rise if it is at least a quarter below market values.

His Highness Shaikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE, in his capacity as the Ruler of Dubai, issued the decree to set the formula to be used for the rent index.

Shaikh Mohammed first introduced the system in January 2009 with the base that a property’s rent must be at least a quarter below similar properties before it can be increased. It is used in conjunction with an index of the Real Estate Regulatory Agency or RERA.
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Qatari Diar Real Estate Development Company has selected Dixon Jones with Squire and Partners, and Kim Wilkie Associates to lead the masterplanning stage of London’s Chelsea Barracks project.
Qatari Diar is the sole owner and developer of the project.

The purpose of the masterplan will be to create a design framework for the 12.8 acre site, including sustainable land use mix and public realm, ahead of any detailed design architecture.
Among other issues, it will address building use, height, density and site layout, reflecting its immediate surroundings and its location within London. In particular, it will draw on the substantial number of responses from the local community.

“Following a rigorous selection process, in which submissions and presentations were considered from 10 shortlisted teams, Dixon Jones with Squire and Partners and Kim Wilkie Associates have been selected to lead the masterplanning stage of the project,” an official spokesman said.
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Apartment rents in Qatar have fallen by 17 percent since the start of 2009, a new report by the Qatar Statistics Authority has revealed.

Rents in general declined in July by 0.8 percent and a further 1.7 percent last month with the largest fall seen in apartment rents, the authority said in a report published on Sunday.
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THE Land Qatar in association with Qatar Sotheby’s International Realty will be sponsoring a reception and private viewing for Sotheby’s first-ever major international auction series in the Middle East, to be held in Doha on March 16 to display the Porto Vista tower at the Pearl Qatar.

Qatar Sotheby’s International Realty are providing brokerage services to The Land, who own the development. General manager for sales and marketing at Qatar Sotheby’s, Jasmine Smith told Gulf Times that sales were going well so far, and the response to the development had been strong.
Smith was speaking at an open event the company hosted at the Doha Golf Club yesterday.
“We are highly diligent and selective in the products and residential properties we list for sale, therefore we are proud to collaborate with such a reputable and professional developer as The Land Qatar,” said Smith.
“Porto Vista is a spectacular world class 20-storey residential tower with amazing views from almost every apartment and excellent finishes, featuring one, two and three bedroom apartments and penthouses, with each master bedroom having an exclusive spa-bath, thoughtfully planned space and utilities, and elegantly designed interiors,” she said.
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