Latest news with #Sharland
IOL News
21-05-2025
- IOL News
Remembering Durban's grand Marine Hotel: A lost landmark with a bay view
And artist's drawing of the Marine Hotel shortly after its construction in 1902. Image: Supplied The old picture this week was sent to us by keen Then & Now follower Peter Sharland from Hillcrest. It is a limited edition print (No 100) of Durban's gracious Marine Hotel that was drawn many years ago, the artist not known. Sharland remembers his grandmother lived at the hotel for seventeen years from 1947 to 1963. 'We visited her from Lusaka every three years,' he says. The famed hotel was built at the bottom of what was the Gardiner Street, today Dorothy Nyembe, with sweeping views over the bay. On the other corner stood the more modest Twines Hotel, which opened in 1902 while the Marine was still being built. The Hotel soon became regarded as Durban's top hotel. The site of the office tower The Marine today. Image: Leon Lestrade Independent Newspapers The 1932 survey picture from eThekwini shows the bayshore at Gardiner Street with the Marine Hotel on the righthand corner. The Gardiner Street Jetty in the foreground was later often used to land flying boat passengers. The statue of Dick King was right in front of the hotel. Today considerable reclamation has been made to the bayshore. The hotel was demolished in 1972. A 1932 survey photograph of Durban showing the Marine Hotel Image: eThekwini Municipality In its seventy year history it played host among many other eminent people, including the Prince of Wales in 1923, Prince George in 1934 and Prince Bernhard of the Netherlands in 1954. The lifting of the siege of Mafekeng was celebrated in the hotel and a framed copy of the dinner menu in the reception area revealed that the dishes on offer had included Kruger Marrow Bones on Toast [Paul Kruger being President of the Transvaal at the time]. A number of permanent residents had to seek other accommodation when the Marine was closed including Mrs Leslie Leuchards who had lived there in a suite for 50 years and had always dined at table number 13. Mrs Leuchards then moved to the Royal Hotel. The modern multi-storey office tower, called The Marine, stands on the site today.
Arabian Business
04-03-2025
- Business
- Arabian Business
Emaar, Ellington, Meraas, Omniyat among Dubai real estate developers to watch in 2025: Experts
Dubai's real estate sector has shattered sales records, with industry experts identifying Emaar, Ellington, Meraas, Select, and Omniyat as the premier developers poised for exceptional growth and investment returns in 2025. 'Emaar offers master-planned communities with top-tier infrastructure, Ellington provides high-quality European-style finishes with boutique developments, and Meraas creates unique lifestyle projects, blending luxury and modern design, whereas Select brings forth excellent reputation, premium amenities, and strategic locations,' Paul Sharland, the Off Plan & Investment Associate Director at haus & haus told Arabian Business. However, Andrew Cummings, Head of Residential Agency at Savills Middle East noted that 'there is an increasing number of large developers such as Sobha, Ellington, Select who are challenging the dominance whilst new and innovative products are being released by smaller and boutique developers such as Alta and Mr 8 Development. Aldar has also entered the market in a big way which is having an impact.' Dubai 'under-priced' compared to London, New York, Paris, Tokyo In addition, according to Lewis Allsopp, Chairman of Allsopp & Allsopp, developers now focus beyond basic features where 'more than just finishes, people are looking for a lifestyle.' 'This means wellness and community are paramount. Think high-end gyms and yoga studios, dedicated padel courts, and integrated sustainability features,' he said. Nevertheless, all experts advise investors to evaluate developer reputation, financial stability, payment plans, location, and potential rental yields when making investment decisions. 'Using a trusted agent is crucial. Developer sales agents may prioritise commissions over buyer interests, whereas independent brokers ensure their clients get the best deals. The key risk is dealing directly with developers who may push less desirable units,' Sharland explained, emphasising on the importance of professional guidance. Investors are also advised to be 'mindful of affordability pressures, particularly as capital values continue to rise. Mortgage accessibility is also a key consideration, with a 30 per cent deposit required for properties priced above AED5 million,' Cummings said. Aside from this, recent government initiatives have enhanced Dubai's appeal to international investors. 'Visa reforms, multiple residency options, and tax incentives have made Dubai even more appealing to international investors, ensuring sustained demand for real estate,' Sharland said, adding that Dubai remains 'under-priced compared to major global cities.' 'While luxury areas like the Palm and Downtown are expensive, the broader market is much more affordable. Compared to cities like London, New York, Paris, and Tokyo, Dubai offers much better value. This is a key message we emphasise to investors,' he added. Al Khail Corridor, Old Dubai emerge as property investment 'hotspots' for 2025 Several areas have emerged as key investment destinations, according to Cummings. 'The Al Khail corridor and Dubailand, has emerged as a key hotspot. This area, covering Jumeirah Village Circle (JVC), Damac Hills 2, Al Barari, and Dubai Hills Estate, accounted for 51 per cent of all transactions in 2024, highlighting its growing popularity,' he said, adding that premium waterfront locations such as Palm Jumeirah, Bluewaters Island, and Jumeirah Bay Island 'continue to command high price points, particularly in the luxury segment,' whereas for villas, areas like Dubai Hills Estate and Jumeirah Islands 'remain in high demand.' Savills Middle East's Sharland also identified two additional growth regions where 'demand is growing'. 'Old Dubai (Dubai Islands & Maritime City), which is undergoing a major transformation, offering proximity to DIFC while maintaining a beachfront lifestyle and South Dubai (Palm Jebel Ali, new airport, Expo City): Emerging developments with future infrastructure expansion, making it an attractive long-term investment,' he said. Allsopp also noted the popularity of JVC, evidenced by approximately 15,000 units launched there last year, along with 'consistent interest in areas like Dubai Hills Estate, Downtown Dubai, and Dubai Marina, each offering different advantages for investors,' he said. Dubai real estate to see influx of new residents, tourists by 2027 Dubai's property sector registered an extraordinary AED423 billion in sales during 2024, marking a 47 per cent year-on-year increase in transactions and demonstrating unwavering interest from both end-users and investors in a market that continues to outperform global expectations. 'We expect this to continue, driven by Dubai's expanding population, smart government policies, and solid rental returns. While we're mindful of global economic shifts, Dubai's built a solid foundation that keeps attracting investors. Essentially, the market's healthy and we see that trend continuing into next year,' Allsopp said. However there is a 'significant undersupply' of family homes, particularly townhouses and detached villas, which make up only 13 per cent of Dubai's total property inventory, experts said. 'With more families moving to Dubai, especially from Europe, the demand for larger homes will continue to outstrip supply. This presents a prime opportunity for investors targeting long-term capital appreciation,' Sharland added. Developers are responding to population projections by planning approximately 41,000 new units in 2025, up from 29,000 in 2024. However, with 81 per cent of 145,000 units launched in 2024 being apartments, the shortage of ground-level living options persists, Allsopp added. 'Dubai's real estate market is gearing up for significant growth, driven by an anticipated influx of one million new residents and tourists by 2027,' he said, adding that 'this creates a highly competitive environment for investors seeking villas and townhouses, while simultaneously offering sellers of these property types the opportunity to achieve premium prices due to the favourable supply-demand dynamic.' Off-plan properties in Dubai provide higher ROI Off-plan sales now account for 68 per cent of total transactions, up from 55 per cent in 2023, experts said, adding that this is because investors are attracted to flexible payment plans and capital appreciation potential. The ready property market accounted for just 32 per cent of transactions in 2024, reflecting the appeal of off-plan investments despite rising capital values. 'Off-plan properties often provide higher ROI due to structured payments and improved build quality. Dubai's construction standards are continuously improving, ensuring better value for buyers over time,' Sharland said. In addition, for villas and townhouses, 'the lack of ready units is pushing investors towards off-plan projects, where they can secure the type of property they want. For apartments, off-plan developments offer the advantage of newer amenities and upgraded features,' Allsopp concluded.
