Frequently Asked Questions
- General Project Information
- Company Background
- Technical Questions
- Construction Status & Timing
- Finance & Investment Questions
- Value-added Services
- Environment & Sustainability
- RERA / Legal Questions
1. What is the Dubai Pearl project and where is it located?
2. What are the main components of the project?
3. What is the component mix?
Hotel: 16 % of the total GFA (Gross Floor Area)
Residential: 40% of the total GFA
Office: 34% of the total GFA
Retail: 6% of the total GFA
Leisure: 4% of the total GFA
Open Space: 56% of the podium area
4. What is the total number of units in the development?
Branded residential: 827
Services apartments: 583
Retail: Under design
Hotel rooms: 7 Branded 5-star Hotels (1,500 keys)
5. Key facts & figures
(1 sq m = 10.76 sq ft)
Gross Floor Area (GFA) : 10 million sq ft - (Actual 9,647,721 sq ft)
Total built-up area: approx. 20 million sq ft (Actual 20,199,130 sq ft incl. podium)
5-level podium structure: 8.4 million sq ft (Actual 8,408,000 sq ft)
Parking: 15,500 parking spaces in a 5 level podium (exactly 15,515)
Total foot print: approx. 1,100,000 sq ft (1,109,572 sq ft)
Circular site footprint: approx. 1.8 million sq ft (exactly 1,753,984 sq ft)
Total Retail GLA : approx. 580,000 sq ft (exactly 581,582 sq ft)
Total open space: 35% (Open space is the same as Landscaping Area)
Landscaping: 35% of the project area
No of entrances: 5
No of theatre seats: 1800 seat luxury Royal Theatre, 350 & 250 seats
Floor to MEP services level in the basement (B2,B1,P2,P3,P4 /2.4m, P1/ 4.3m) MEP - Mechanical Electrical & Plumbing engineering services
Level of the ring road: 12.13m DMB (Dubai Municipality Benchmark)
6. What are the details of parking areas?
- Five access entrances to the podium level
- Indoor parking space equipped with remote control access
- Indoor visitor parking
- 5 floors multi-storey parking
- Valet parking service
- Assigned parking space for offices and residential units
7. What makes Dubai Pearl unique from other developments?
8. How many people are expected to live and work at the Dubai Pearl?
Permanent Residents: approx. 9,000
Office employees: approx. 12,000
9. What is the profile of Dubai Pearl buyers?
10. Percentage of the overall property that has already been sold?
11. What are the brands that Dubai Pearl is procuring and what is the rationale behind such procurement?
Dubai Pearl has already forged partnerships with some of the biggest names:
luxury brands Baccarat for the Baccarat Hotels and Residences, MGM Resorts International for 250-room Bellagio hotel, 350-room MGM Grand hotel, and 30-suite Skylofts hotel.
In the future, Dubai Pearl will announce partnerships with other leading international luxury brands; some of them will be entering the real estate segment for the first time in the Middle East and the world. These brands will range from fashion, sports, culture and entertainment.
The rationale and choice of brands associated with Dubai Pearl development is to create long-term value for the development’s stakeholders and its components by positioning the brand in a way to obtain the highest possible ROI.
12. What are the projected maintenance fees?
Maintenance fees will be announced 12 months before occupancy in a form of an audited document in line with Strata law rules & regulations. They will not be above market levels and will be subsidized by various commercial income streams that will be generated in the common areas by the development.
1. Who is Pearl Dubai FZ LLC?
2. Who are the people behind the company?
3. Who is the owner?
Pearl Dubai FZ LLC is owned by a consortium of investors led by Al Fahim Group.
4. Who is on the Board of Directors?
Abdul Majeed Ismail Al Fahim - Chairman
Amer Al Fahim - Board member
Santhosh Joseph - Board member, President & CEO
Rashid Al Fahim - Board member
5. What development experience does the company have?
6. Why Dubai Pearl project has changed hands and why construction commenced and then a building was torn down?
The old plot was being developed by a group of investors who were not progressing with the development. TECOM as the master developer has agreed to change of ownership to Pearl Dubai FZ LLC. Thereafter the development has been redesigned and new construction commenced. This is an entirely new project.
1. Facts & figures
- 73-storey structure comprising 4 towers joined at the top
- Concrete :1 mil cubic meters
- Reinforcement: 140,000 tons
- Structural: 35,000 tons
- Manpower:12,000 at peak
- Glass:300,000 sq m
- Floor to Ceiling:
- Offices 2.8 m
- Residential: 3 m
- Branded residences on the podium:
- Living area: 3m
- Bathrooms: 2.45m
- Kitchen & lobbies: 2.45m
- Each tower dimensions: 28.5m x 90 m
- Distance btw towers:
- Largest span: 110 m
- Shorter span: 32 m
- Distance btw. South & North Tower: 33 m
- Materials in main towers:
- Steel & concrete columns with glass façade.
- Columns on frame and core for vertical risers and vertical transport.
- The crown of the building is an 18 meter high steel structure.
- Central core with one belt of columns at the edges, column-less within used space. Composite columns (steel and concrete) to optimize the column size.
1. When will the whole project be completed?
Dubai Pearl is a two-phase project with delivery of Phase 1 to commence by December 2013
2. How many phases are there?
Dubai Pearl is a two-phase project.
Phase 1 - Towers
Phase 2 - Parking & Podium
3. Who will be responsible for providing the infrastructure and utilities?
On site infrastructure will be provided by Dubai Pearl. Off site will be the Dubai Electricity and Water Authority (DEWA), Empower, Roads & Transport Authority (RTA) and the UAE telecom operator DU.Air conditioning, chilled water and all electromechanical requirements will be handled by Meinhardt, the engineering services consultants.
4. What is the status of the infrastructure work done till date?
As Dubai Pearl is located in a mature freezone, majority of utilities are already in place
Water supply and drainage system NOC’s for demand allocation are available.
Electrical substation NOC’s for load allocation are available.
District cooling load is under study to finalize & proceed with district cooling provider
5. What plans are there for transport and road networks within the project?
There will be a fully integrated road system to give buildings a street address and frontage. The development will be connected to public transport by bus and taxi as well as Dubai Metro. All transport and road networks within the project are private but fall under RTA jurisdiction.
6. What are the construction project milestones for each element of development?
1. Has there been a Feasibility study done?
Master feasibility study has already been carried out by KPMG. Additional feasibility studies are ongoing for individual elements of the development
2. What is the total investment cost?
Dubai Pearl is a US$ 6 billion development. Further financial information is not available as Pearl Dubai FZ LLC is a private company.
3. What are the sources of finance for the project?
The project is being financed by a combination of three sources
- shareholders’ funds
- bank debt - not required at present
4. What payment options do you offer?
50%-70% during construction & 30%-50% on delivery based on the initial payment options chosen by the client.
5. What finance options are available for customers?
Dubai Pearl provides attractive payment terms for end–users.Negotiations with mortgage providers are in progress.
1. What are the services available at Dubai Pearl to residents and tenants?
1. What will technology in Dubai Pearl entail?
- Smart Homes - Dubai Pearl will offer a variety of Smart home services. The goal of these automated systems is to simplify and enrich residents’ lives, and increase interaction within the communities providing value added services like local dining, entertainment bookings while giving peace of mind via quick emergency response from civil defense & hospitals.
- Offices - The office spaces in Dubai Pearl will have access to many value-added features. For example, remote office functionality will provide access to all files virtually anywhere in the world. Companies can have global control over their office wherever and whenever they want with 24/7 remote monitoring of the facilities.Dubai Pearl working environment will strive to meet client’s business needs and increase productivity featuring ‘plug and play’ convenience, virtual private offices and designer interiors supported by cutting edge technology & complete bespoke management services.
- Intelligent Hotels - The flagship hotels within Dubai Pearl development will be part of an integrated system allowing for the best hospitality experience through simple easy-to-use technology that seems invisible and non intrusive to the guest. Whether it is in-room dining or booking the next big event, every hospitality service will be made available at the fingertips of the guest.
- Infotainment - Infotainment in the project will provide both “information” and “entertainment” for a variety of uses through various content delivery platforms. Residents will be able to access customer portals via different endpoint devices. Examples are, Free and Pay based TV services, Mood Music, Video/Audio on Demand, 24/7 Internet News access, etc. In public areas, visitors will have ample sources for news and entertainment from public kiosks and digital information panels throughout the project.
- Asset Tracking - Asset Tracking systems will manage availability and serviceability of assets (AC, lighting systems, elevators, cars, infrastructure components, etc) used to move, store, secure, protect and control inventory within the enterprise. The sophisticated mobile asset management system will automatically capture data on each individual asset and can indicate the contents without ever having to physically see the unit.
- DiOCENT -DiOCENT (Digitally Integrated Operations Centre) shall be the core centralized command and control centre of the Pearl development. DiOCENT will consist of multiple control room locations, multi user access of the system by Pearl administration as well as Pearl customers. Each user accessing DiOCENT will be given different levels of authority. DiOCENT shall also include state of the art encryption algorithms in order to protect the integrity of the system from external threats like hackers etc.
- IP Infrastructure - The SterenSYS will be control the infrastructure through an open architecture Internet Protocol (IP) backbone network. This will ensure future-proofing for the proposed integrated solution that will allow almost any kind of backend and frontend systems to communicate with one and other.
- Network Operations Center (NOC) - The NOC is responsible for monitoring the network for alarms or certain conditions that may require special attention to avoid impact on the networks performance (power failures, communication line alarms, etc)
- Digital Wayfinding & Signage - Fully interactive digital wayfinding is being developed for the entire Dubai Pearl precinct.
1. What are the finishes selected for various components of the development?
1. What green/eco-friendly aspects are incorporated into the project?
- The Dubai Pearl masterplan has been designed to ensure energy efficiency therefore allowing the scheme to achieve the LEED Gold certification
- Dubai Pearl will incorporate sustainable development features and ‘green’ building standards including recycling facilities for paper, glass and food waste
- As per the LEED rating system 2.08, Core and Shell will be implemented to reduce electricity and water usage throughout the project. Improved utilization of light control, air conditioning and car park ventilation will all contribute to a ‘green’ friendly environment for the Dubai Pearl community
- In addition to being a completely walkable development, Dubai Pearl will include shaded landscaped areas. Landscaping accounts for 35% of the project area
- To reduce Heat Island Effect, major part of the prioject on site parking areas are located under cover
- An environmental impact study has been conducted by Dome International
2. What level of LEED is Dubai Pearl aiming for?
Gold LEED Certification for the Towers, pre-certification has been received.
3. Are there any power saving systems?
Dubai Pearl will incorporate sustainable development features and ‘green’ building standards, including recycling facilities for paper, glass, and food waste.Solar power will also be used in the project for domestic hot water purpose and motion sensors will be installed in common areas for lighting control.
4. Is there a high level of noise pollution considering the project is surrounded by main roads?
The buildings will be treated to reduce sound and will be insulated accordingly. A consultant has been appointed to do this task.
5. Has Traffic Impact Study (TIA) been carried out?
Yes, three traffic impact assessments have been carried out, based on which Dubai Pearl development has been designed.
6. What about Recycling?
Dubai Pearl will incorporate sustainable development features and ‘green’ building standards, including recycling facilities for paper, glass, and food waste. Dubai Pearl will also feature an automated waste collection system, which will segregate the biodegradable waste and recyclable waste making a more efficient waste collection within the site.
7. Has an Environmental Impact Assessment Study (EIA) been carried out?
Yes, by Dome International
1. Who can own property at Dubai Pearl?
Dubai's property laws allow GCC nationals (including GCC owned companies) to own property anywhere in Dubai and for non-GCC nationals (including non-GCC owned companies) to own property on either a freehold or leasehold basis (up to 99 years) in certain designated areas in Dubai, subject to the Ruler's permission. The Ruler's permission for non-GCC nationals (including non GCC owned companies) to own property in the TECOM area (in which the Dubai Pearl is located) was granted by virtue of Law No 3 of 2006 which sets out a list of 23 designated areas by reference to plot numbers and plans.
Registration of property in Dubai in the name of foreign companies has been subject to recent changes. We understand that the current position is that the Dubai Land Department will not, as a matter of practice, register the ownership of property in the name of a foreign offshore company. We understand that the Dubai Land Department's current policy is only to register the ownership of properties in the name of a company with foreign shareholders if that company is established in one of the Dubai based freezones such as Jebel Ali Freezone. It may also be possible for such entities to be owned by a foreign offshore company (i.e. BVI company) provided the foreign offshore company is owned by individuals and the identity of those individuals is disclosed to the Dubai Land Department at the time of registration. We recommend that purchasers seek advice from qualified professionals should they wish to purchase units within Dubai Pearl in the name of foreign companies as governmental policies may change from time to time.
2. Will I get a residence visa if I purchase a property in Dubai Pearl?
We understand that the current position is that an owner of a residential unit in Dubai may apply for a six (6) months residency visa subject to satisfying the requirements as set out by the General Directorate of Residency and Foreign Affairs (http://dnrd.ae/). As these requirements may change from time to time, we recommend that purchasers seeking to obtain a residency visa seek advice from qualified professionals.
3. What is the Jointly Owned Property Law?
Dubai Law No 27 of 2007, the "Jointly Owned Property Law ("JOP Law") (sometimes referred to as the Strata Law) came into force in April 2007. The JOP Law applies to all buildings or parts of buildings in which there is multiple-ownership and contains mechanisms regarding the ownership, management and maintenance of "common areas" within those buildings. The title structure adopted for the Dubai Pearl development will comply with the JOP law and the requirements issued by the Dubai Land Department.
4. What are the key requirements for property resale?
The terms are set out in the Sale and Purchase Agreement according to the type of property purchased and as stipulated by the prevailing laws of Dubai and any guidelines and regulations issued by the Dubai Land Department from time to time.
5. How would one proceed to attain the Right of First Refusal on resale?
The Buyer shall give written notice to Dubai Pearl of its intention to assign, sell, dispose or transfer its unit and shall simultaneously offer such assignment, sale, or other disposal to the Dubai Pearl on the same terms (the "Offer"). The Offer is to constitute an irrevocable offer by the Buyer to the Dubai Pearl, which is to remain open for acceptance for the period set by the Sales & Purchase Agreement. For the avoidance of doubt, this shall not create an obligation on Dubai Pearl to accept the Offer. If Dubai Pearl accepts the Offer, the Buyer shall take all action and sign all documents necessary to effect the disposition.
If Dubai Pearl does not accept the Offer, the Buyer shall be free during a period set in the Sales & Purchase agreement from the date of the refusal to pursue a resale or assignment provided that the terms and purchase price of the resale or assignment are no more favourable than those contained in the Offer. If the Buyer wishes to resale or assign on terms more favourable than the Offer, the Buyer must make a further offer to Dubai Pearl on such terms.
6. What are the key regulations for cancellation?
Cancellations are handled on a case by case basis and as constituted under the terms of Law No. 13 of 2008 as amended by Law No 9 of 2009 and Executive Council Decree No 6 of 2010. A proposed Investor Protection law may be enacted in the near future that may vary the current position with respect of the sale and purchase agreements.
7. What are the details of the Dubai Pearl ESCROW Account?
Trust Account: 0201509017
Swift Code: CITIAEAD