Appointment: 1994 – Present
Client: Private Individual
Services: Property Management, Leasing, Disposal and Acquisition
Portfolio: 145 units across 4 Emirates
Role: Asteco have maintained a long term relationship with this Client as a Holistic Real Estate Services Provider including property acquisition, disposal, leasing, management and consultancy.
Asteco maintain full control of the Clients accounts to manage and operate the properties to a standard that is required to meet and excel in such a competitive market. From Maintenance and Risk assessments of potential maintenance issued that may impact the value and safety of assets to a portfolio review of asset performance, Asteco cover all areas of property service for this Client.
Rental income that is collected is utalised for the maintenance and operational costs of the existing portfolio and where required, pooled to disperse against the purchase of upcoming asset purchases.
The Portfolio consists of midrise Residential buildings, villa compounds, freehold apartments and commercial offices across 4 emirates. Through the duration of our appointment we have leased and maintained 98% occupancy across the portfolio. The client has always looked to Asteco to assist with property disposal to reinvest and acquire better performing assets.
The sought after Downtown Dubai area is one of the most popular and alluring residential neighbourhoods in Dubai. It is a new upscale 500 acre community combining commercial, residential, hotels, entertainment, shopping and leisure facilities in open spaces with lakes and fountains. It is an inspired urban concept, which reconfirms Dubai’s status as a global player.
Popular with young professionals, it currently holds several commercial, retail, residential, entertainment, shopping and leisure outlets including prestigious bars and lounges. The district occupies almost 45 million square feet consisting of around 30,000 residential units with open green spaces, lakes and other water elements like fountains.
Two unique features set Downtown Dubai apart from any other residential district in the world. Located at its centre is Burj Khalifa - the tallest building in the world. At 828 metres (2,716 feet) and more than 160 stories, Burj Khalifa holds multiple world records. The Dubai Mall is the largest shopping mall in the world with over 1,200 retail outlets and 160 food and beverage outlets.
Old Town is a vibrant low rise neighbourhood with lots of charm. Peppered with lively squares and cozy cafés it has an authentic Arabian feel while providing modern day conveniences. The neighbourhood features childrens play areas, relaxation areas, landscaped sitting areas, pool facilities and gardens. Old Town is also home to the Old Town Island. This low rise development has four quarters: Al Bahar, Tajer, Attareen and The Palace Hotel, Old Town. It is also a fusion of stalls, boutiques, parlors, and coffee houses add spice to an already alluring way of life. By night, its lantern-lit streets come alive with locals and tourists alike, frequenting its trendy food and beverage outlets.
Inspired by great boulevards of the world, Emaar Boulevard is a beautiful palm-lined boulevard that extends for 3.5 kilometers through Downtown Dubai. The boulevard provides easy access to The Dubai Mall, Burj Khalifa, the Old Town and Old Town Island as well as the neighbourhood's many hotels and residential properties.
Down Town Dubai is connected to Dubai Metro by Burj Khalifa/Dubai Mall Metro Station.