Condo Hotel in Dubai,
at Dubai Sports City - Just Released!
Joel Greene here from Condo Hotel Center. I just
recently attended the annual Condo Hotel Symposium
held in Orlando for developers.
Since part of my mission
in writing these Property Alerts is to give you
information on the latest condo hotel trends and
industry forecasts, I thought, before telling you
about this week's featured property, I'd take a
moment to highlight the top 10 key points made by
1. Well-run condo hotels embrace
the individual unit owners as partners,
providing them with the right amenities and services,
communicating with them, and treating them fairly
when it comes to revenue splits and expenses.
Condo hotels differ from traditional condominium
complexes by offering a "resort feel."
They've got an excitement and an energy that,
combined with superior amenities and services,
give them that vacation atmosphere.
Condo hotels offer a vacation lifestyle,
a hassle-free, upscale alternative to traditional
second homes and should not be sold as investments.
More condo hotels are developing unique selling
propositions to help them stand out
from the competition, such as championship golf
courses, indoor water parks, private beaches,
casinos or marinas.
Expect to see more mixed-use developments in the
future. These hybrid properties offer
some combination of condo hotel units, traditional
condos, commercial space, retail space, and entertainment
venues to provide an all-inclusive, enticing package
to owners and visitors.
Leasebacks are becoming more common as a buyer
incentive. The developer commits to
pay the unit owner a set rental fee for the first
year or two of operation. Presumably, after that
point, the hotel will be established and able
to achieve occupancy levels to generate adequate
revenue for unit owners.
Buyer demand for condo hotels in 2007 is less
than it was in 2006 and 2005, which
is consistent with the rest of the real estate
market in the U.S. However, hospitality experts
view this as a small blip in this maturing product
cycle, with expectations that demand will surge
again as real estate in general rebounds, as the
70 million plus baby boomers near retirement and
begin searching for second homes, and investors
look for alternatives to the stock market.
Condo hotels are gaining popularity among foreign
consumers. These buyers want to own
U.S., Central American or Caribbean real estate,
use it once or twice a year and not be concerned
with the potential problems (renters, maintenance,
etc.) that often come with owning traditional
vacation home. Plus, thanks to the weak dollar,
property prices seem "cheap" to them
when compared to home.
In the U.S., Florida and Las Vegas will continue
to lead in condo hotel development.
Soon to begin experiencing condo hotel growth
will be the West Coast of the United States (California)
and the Eastern Seaboard. On an international
scale, the next big push is going to be in Central
America, specifically Mexico, Costa Rica and Panama,
and the Caribbean including the Bahamas, the Dominican
Republic, and other small island nations.
For buyers interested primarily in condo hotels
for real estate investment as opposed to vacation
homes, the hottest market in the world is Dubai,
It's point #10 that
brings me to today's featured condo hotel, The Bridge
in Dubai Sports City. If you've been waiting for
the right opportunity to jump in and participate
in Dubai's astonishing growth, this could be it:
a five-star property, centrally located, first-release
pricing and specially discounted units for Condo
Hotel Center buyers. Sound good? Then read on for
The Bridge will be a five-star condo
hotel centrally located in Dubai Sports City, Dubailand.
Bridge at Dubai Sports City
The Bridge will be an eye-catching five-star, world-class
condo hotel. At 28 stories tall, it will offer stunning
views of Dubai Sports City, especially its lovely
canals and its immense main stadium (you'll have
a bird's eye view of all the action). More on Dubai
Sports City in a minute.
The Bridge will be
a mix of condo hotel units, luxury residential apartments,
and flexible commercial units. It will comprise
two back-to-back curved buildings joined by a central
shaft and finished in shimmering blue tones. Inside,
the lobby and main reception area will be clad in
granite and marble, with common areas on upper floors
featuring beautiful, high-quality finishes.
The Bridge will be a state-of-the-art designed building
developed by The First Group, a UK company. It will
have all the features and services that you'd expect
from a five-star luxury development such as:
- Full-service spa
- Children's pool area
- Temperature controlled rooftop
- Fully-equipped health club
- Retail stores
- Beautiful fixtures and fittings
- Wireless internet throughout
- 24-hour concierge services
- Valet parking
The condo hotel units at The Bridge
will be delivered with designer furnishings and
Features in Each Unit
The condo hotel units will be accessed via their
own private VIP entrance. They'll have their own
balconies. They'll be fully furnished with high-quality,
modern furniture and finishes, floor-to-ceiling
glass for panoramic views, and the latest electronics
like plasma TV's.
The Bridge at Sports City will offer
studios, one- and two-bedroom condo hotel units.
Owners of The Bridge
will place their condo hotel unit in a managed rental
program and share in the revenue it generates. They
may also choose to use their unit up to 30 days
Developer with an Excellent Track Record
The Bridge's developer is The First Group, a British
real estate company with more than 20 years in successful
residential, commercial and resort development.
The firm has specialized in overseas investment
property in emerging markets including Cyprus, Hungary,
Eastern Europe, Asia, the Far East and Spain.
The Bridge is actually
The First Group's second development in Dubai Sports
City. The first, The Diamond condo hotel (pictured
right), was released about six months ago and is
now sold out. Early purchasers have already seen
more than 25% appreciation.
The First Group now
has a permanent base in Dubai where it is concentrating
on high-quality investment property in Dubai and
the Northern Emirates.
The Bridge will be more than a condo hotel. It will
be a mixed-use development combining a variety of
offerings. Here is the floor breakdown:
- Floors 1-5: commercial space
condos (for sale to investors)
- Floors 6-11: commercial rental
- Floors 12-23: condo hotel
- Floors 24-27: signature residential
apartments, not eligible for the rental program
- Floor 28: health club, roof-top
swimming pool, gym and spa
excavation work for The Bridge is expected to start
in August 2007. The development will be complete
The developer has set aside 11 of
the least expensive units in the building for Condo
Hotel Center buyers.
Specially Priced Units for Condo Hotel Center Clients
Probably the best thing about luxury condo hotels
in Dubai is the prices. They're three to four times
lower than what you'd pay for a comparable condo
hotel unit in the U.S.
At The Bridge, you'll
have a choice of executive studios, one-bedroom
and two-bedroom suites. The units range in size
from 527 square feet to 1,027 square feet. The price
range being quoted to the general public is $180,941
However, because of
Condo Hotel Center's relationship with the developers,
we've been able to negotiate to have 11 specially
selected, lesser priced units, reserved exclusively
for Condo Hotel Center clients until midnight on
May 18, 2007.
A few of these units
start at $169,633-$177,432. That's an $11,308 savings
off the least expensive units currently being offered
to the general public! There are significant savings
on the larger units as well. These specially-priced
units are available on a first come, first served
Because The Bridge has just come
on the market, buyers have their choice of inventory.
Even available are low-priced studio units, which
typically sell out in Dubai condo hotels within
a few weeks of release.
Ownership Option at The Bridge
If owning a condo hotel unit at The Bridge doesn't
float your boat, and you are strictly interested
in an investment in Dubai, there is another alternative.
Known as a SOLO©
(Serviced Office Leaseback Opportunity), individual
buyers can purchase office space in The Bridge.
Like a condo hotel unit, the office space will be
part of the managed rental program.
This unique concept,
coupled with the insatiable demand for commercial
office space in Dubai, offers a unique investment
opportunity in commercial real estate. With current
office occupancy levels standing at 100% across
Dubai, commercial space is at a premium and demand
will further increase due to the massive anticipated
growth in the region. The SOLO program offers investors
the potential of substantial capital growth and
a sustainable rising income stream.
Facts and Figures on The Bridge
Want to learn more about The Bridge? We've prepared
a very detailed data sheet that will give you the
facts you need to make an informed decision on whether
this condo hotel or SOLO program is right for you.
To receive it, you'll need to provide your name
and address in accordance with the developer's requirements.
The Bridge data sheet here.
Then, read on to learn
more about exciting Dubai and what makes investing
in this emerging emirate so appealing.
Dubai, probably more than any other destination,
represents a country with an unlimited capacity
for growth. It's like the government there - and
the ruling family - has decided that nothing succeeds
It also represents
a unique transformation in the Persian Gulf, an
oil-rich location whose rulers are thinking ahead
to a time when its economy can no longer be fueled
by its oil reserves. Their vision is to invest in
travel and tourism. And that vision is coming to
life with unbelievable speed.
Dubai is the fastest
growing city in the world. For the past three years
its economy's growth rate has exceeded 16%, beating
that of China at 8%, acknowledged to be one of the
fastest growing economies in the world. There are
more heavy building cranes in Dubai than anywhere
else in the world.
Over 15% of the world's cranes are
currently in Dubai, working on $80 billion+ in real
Just about every foreign
airline already flies to Dubai, where the expatriate
community is also growing, almost exponentially.
This is truly a global city with 180 different nations
Some would describe
the place as Las Vegas without the casinos, and
they might just be right. Hotels are architectural
icons, and there are huge luxury residential developments,
most of which are sold out before "sand"
has the world's only seven-star hotel, the Burj
Al-Arab, which also boasts the world's tallest atrium.
Rooms run $2,000 to $16,000 per night but come with
special touches like a 16 page "pillow menu."
The hotel is usually booked solid months in advance.
Want to go snow skiing
in the desert? No problem. The world's largest indoor
ski resort is located in the world's second largest
The world's largest indoor ski resort
is located in Dubai's desert. Over 6,000 tons of
snow are manufactured here per day.
Currently under construction
is the Burj Dubai, which will be the world's largest
tower. It will be over 160 stores high, but the
exact height is a secret because the developers
don't want competitors to one-up them.
The Burj Dubai, currently under construction
in Dubai, will be the world's tallest building at
Even the country's
airline, Emirates, is part of the over-the-top approach
to everything. Its first-class, non-stop service
from New York's JFK Airport provides passengers
with extra-wide seats inside their own louvered-door
pods. Each passenger gets his own large flat screen
TV with 500 channels of on-demand programming and
a personal mini-bar. And, when passengers want to
eat, they just pick up their phone and call "room
The audacity of the
city's rulers is breathtaking. Running out of coastline
to build luxury homes? Construct vast artificial
islands with 90 square miles of new beachfront.
The Palm, one of three man-made islands
off the coast of Dubai, is 8 miles long by 5 miles
The Palm Islands are
the world's three largest man-made islands, which
are being built on the coast of Dubai.
Built in the shape of date palm trees,
the islands will support more than 60 luxury hotels,
4,000 exclusive residential villas, 1,000 unique
water homes, 5,000 shoreline apartments, marinas,
water theme parks, restaurants, shopping malls,
sports facilities, health spas, cinemas and various
The World is yet another
example of Dubai creativity. It is a collection
of 300 man-made islands shaped into the continents
of the world, located off the coast of Dubai. It
too will offer private homes, luxury resorts and
community islands. Already Rod Stewart, David Beckham
and Pamela Anderson are said to be building homes
there. Tiger Woods has reserved his lot too, and
he has signed a deal to design his first golf course
The world is a collection of 300
man-made islands shaped into the continents, located
off the coast of Dubai.
World-Class Tourist Destination
Dubai lies on the south-eastern shore of the Persian
Gulf near the strait of Hormuz, strategically located
at the cross roads of Europe, Africa, the Middle
East and Asia, making it a gateway to over 1.5 billion
Dubai is centrally located for visitors
from Europe, Africa, the Middle East and Asia.
Over the past decade,
the number of visitors to Dubai has grown from 1.08
million to 5.4 million, representing an annual growth
of 16%. This growth rate is more than triple the
world tourism growth rate over the same period.
In fact, the last five years alone witnessed a 54%
growth in the numbers of tourists visiting Dubai.
visitors a day, Dubai is being designed to attract
and accommodate 15 million visitors a year from
Disney on Steroids
Much of the growth of Dubai has been centered on
a "city" called Dubailand. What is Dubailand?
Disney World on steroids in the desert!
Dubailand is a $20 billion development
spanning 107 miles, destined to make
Dubai the premier vacation destination for the Middle
East and the world.
By any name, though,
it's a doozie of a development: a master-planned,
full-featured city for tourism, entertainment and
leisure. It is being built to secure Dubai as a
premier travel destination for the entire world!
Spanning 107 square
miles, the venture is expected to cost $20 billion.
It will include 45 mega projects and 200 sub projects.
It will be more than twice the size of all of the
Disneyland/Disney World resorts put together, currently
the largest collection of theme parks and attractions
in the world.
And the plans for Dubailand
keep expanding. Just last week, U.S.-based Universal
Studios announced it would develop its own theme
park within Dubailand at a cost of $2.2 billion.
The first of four phases
comprising the development of Dubailand will be
completed in early 2008. Completion of the final
phases will extend to 2020.
Dubai Sports City
Already under construction, Dubailand
will encompass 70 square miles of attractions and
entertainment venues by 2020.
The various projects
being built in Dubailand have been categorized into
six immense themed zones, each of which focuses
on a different aspect of the Dubailand experience.
The zones, referred to as "worlds," include:
1. Attractions and
2. Leisure and Vacation World
3. Retail and Entertainment World
5. Eco-tourism World
6. Sports and Outdoor World
Now stay with me here.
Let's talk just about Sports and Outdoor World.
Here's what this World will include:
- Dubai Autodrome (already built)
- Extreme Sports World
- Golf World
- The Plantation Equestrian
& Polo Club
- Dubai Sports City
The Dubai Autodrome is a world-class
motor sports facility already constructed and hosting
It is in Dubai Sports
City, a $1.9 billion development, that The Bridge
condo hotel will be located. Dubai Sports City is
under construction and should be complete in 2011.
It will contain a combination of sports, lifestyle,
leisure and entertainment developments. Permit me
to give you a few more stats on Dubai Sports City.
Dubai Sports City will encompass
many state-of-the-art stadiums and world-class sports
Designed to attract
professional athletes and world-class athletic competitions,
it will encompass the following venues:
- Various stadiums for international sports
and mega-events. A dedicated cricket stadium,
capacity 30,000 spectators; an outdoor multipurpose
stadium for football and rugby, capacity 60,000
spectators; an indoor multi-purpose stadium
and volleyball, capacity 10,000 spectators;
and a dedicated hockey stadium, capacity 10,000
Academies - The Manchester United
Soccer Schools, Butch Harmon School of Golf,
David Lloyd (Leisure, Spa, and Tennis Academies),
and the International Global Cricket Academy.
Facilities - Multi-sport training
facilities including gymnasiums, Olympic pools,
and a state-of-the-art sports rehabilitation
Course - 18-hole Ernie Els golf course
being designed in association with Nicklaus
- Various residential communities and high-rise
buildings offering spectacular views of the
surrounding golf course, stadiums and canals.
- The biggest brands, franchises and contemporary
icons from the business, hospitality, entertainment
and sports training worlds will all be represented
in Dubai Sports City.
Let me summarize.
Dubai Sports City is the centerpiece of Sports and
Outdoor World, one of the six main Worlds in Dubailand,
the world-class tourist destination in the
exciting emirate, Dubai. And The Bridge condo hotel
will be located in the heart of it all!
The Bridge has just come on the market.
It offers a full selection of units currently at
Pretty amazing stuff,
wouldn't you say? And The Bridge at Dubai Sports
City offers an opportunity to be a part of this
dynamic region's growth and excitement.
If you've ever thought
to yourself, "Gee, if only I'd bought property
in Orlando when Disney World was just being built
well, this is that same kind of exceptional opportunity!
Again, if you want
to learn more about The Bridge, we've prepared a
detailed data sheet that will give you the facts
you need to make an informed decision on whether
this condo hotel is right for you.
The Bridge data sheet here.
I hope you enjoyed
learning about The Bridge at Dubai Sports City and
Dubai itself, destined to become not only the financial
center of the Middle East but also the newest, most
opulent resort destination in the world.
If you know anyone
else who might be interested in participating in
the emerging growth of Dubai via a condo hotel purchase,
I encourage you to pass along this Property Alert
to them. The Bridge offers a unique opportunity
to purchase a first-release condo hotel at first-tier
pricing. They can also subscribe
here to begin receiving future Property
As always, we thank
you for making Condo Hotel Center your information
source for condo hotel news from around the U.S.
and the world.
Licensed Real Estate Broker
Condo Hotel Center
12700 Biscayne Blvd., Suite 301
N. Miami, FL 33181
Ph: (954) 450-1929
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