By Alma Kadragic www.realestatechannel.com
(DUBAI, UAE) — As real estate prices continue to drop in Dubai and Abu Dhabi given the ever growing oversupply of residential and commercial space, some of the UAE’s top developers are looking outside the country for new markets. Emaar, Dubai’s largest developer, has been focusing on projects in the Middle East and beyond. CEO Mohamed Alabbar said earlier this year that the company expects 80 percent of profits in 2011 to come from foreign operations. Some of those foreign profits are expected to come from Beverly West in Los Angeles.
Designed by some of the world’s leading architects, designers, and builders, Beverly West features just 35 highly customized residences in a 21-story building rising above Beverly Hills. Beverly West is set amidst the green foliage of the Los Angeles Country Club, between the Wilshire Corridor and Beverly Hills, two of the most prestigious stretches of real estate in Los Angeles. The residences open to uninterrupted views of the city as well as snow-capped mountains in the north and the Pacific Ocean to the west.
The Beverly West residences range in size from 1,770 to 8,215 square feet and come in six design schemes – from classic to contemporary. The designs incorporate top quality fixtures, finishes, and appliances, and offer the ultimate in materials and craftsmanship from full, slab-marble walls in the bathroom to limestone and hardwood flooring. Works of art from outstanding Los Angeles collections pervade the building, adding to its elegant appeal.
Hamptons MENA, a premier property services company with a strong geographic presence in the Middle East and North Africa region, is showcasing residences in Beverly West at the Dubai Mall. Appropriately, the luxurious Beverly West is highlighted at a special kiosk located in the ground floor, near the Fashion Catwalk entrance of the so-called Fashion Avenue in Dubai Mall.
In that setting, Beverly West has attracted attention. A Hamptons MENA spokesperson said, “The response to Beverly West residences by visitors to the kiosk has been extremely positive. The residences have the unique appeal as a holiday or business home given its superior location advantage, and offer the highest standards of luxury.”
Only minutes away from Los Angeles International Airport, Beverly West is down the street from Rodeo Drive, one of the most celebrated and exclusive shopping streets in the world. The highly acclaimed J Paul Getty Museum and the University of California at Los Angeles – one of the top research institutions in the US – are also a short walk or drive away. The Santa Monica Mountains National Recreation Area and the open stretches of white sand beach from Santa Monica to Malibu are both within five miles of Beverly West.
Beverly West offers an extensive array of amenities including a top-of-the-line fitness center, full-sized swimming pool with a whirlpool spa, modern boardroom, 24-hour valet parking and garage, 24-hour concierge, housekeeping quarters, and advanced security systems.
Work on Beverly West is progressing on schedule with the exteriors, amenities, and common areas set to be completed in the first quarter of 2011, but moving into the residences will be later.
Emaar Properties PJSC, listed on the Dubai Financial Market, is a global property developer with a significant presence in key markets world-wide. Besides building residential and commercial properties, the company also has proven competencies in shopping malls & retail, hospitality & leisure, healthcare and financial service sectors. Emaar inaugurated Burj Khalifa, the world’s tallest building and free-standing structure, and has opened The Dubai Mall, one of the world’s largest shopping and entertainment destinations, as well as Souq Al Bahar, all three in the Downtown Dubai development.
In Saudi Arabia, Emaar is developing King Abdullah Economic City, the region’s largest private sector-led project in Saudi Arabia, featuring a sea port, central business district, industrial zone, educational zone, residential communities and resort district.
Hamptons International MENA has a strong presence in the Middle East and North Africa region through offices in Dubai and Abu Dhabi in the UAE, Oman, Saudi Arabia, Egypt and Morocco. In addition to a diverse project portfolio, Hamptons offers property management, valuations and research, advisory and mortgage services.