Table of Content

1. General Project Information
2. Company Background
3. Technical Questions
4. Construction Status & Timing
5. Finance & Investment Questions
6. Value-added Services
7. Specifications
8. Environment & Sustainability
9. RERA / Legal Questions 

GENERAL PROJECT INFORMATON

1. What is the Dubai Pearl project and where is it located?

The 20-million square feet Dubai Pearl project is located on the fringes of the Dubai Media and Technology Free Zone, overlooking Palm Jumeirah. It will offer an unparalleled combination of convenience, luxury and technology in a sustainable, ‘walkable’ city. The Dubai Pearl masterplan has been designed to ensure energy efficiency.

Dubai Pearl will comprise four iconic towers, premium offices, international retail and dining options, five star-hotels including the Baccarat Hotel & Residences, the first of 5 branded residences, a 2,000-seat theatre, upscale ballroom facilities, as well as pedestrian friendly walkways.

2. What are the main components of the project?

• Residential:
  • Luxury tower apartments
  • Branded residences
  • Penthouses
  • Sky palaces

• Commercial:
  • Tower offices
  • Boutique offices
  • Branded business center

• Hospitality:
  • Four full service luxury Branded hotels
  • Two luxury Boutique hotels
  • State of the art concierge services, Spa and Recreation facilities
  • Conference & Banqueting with a 135,000 sq ft of ballroom
  • Signature Restaurant

• Retail:
  • Shopping mall that will be home to the latest fashions, unique department stores, a luxury fashion precinct and a gourmet grocer.
  • The mall will offer convenience dining and a host of brand experiences in keeping with the luxury theme of the Dubai Pearl.

• Leisure & Entertainment:
  • Entertainment precinct
  • 10 state of the art cinemas
  • 40 Restaurants
  • Holistic Wellness & Sports Centre
  • Nightlife destinations
  • Pedestrian walkways

3. What is the component mix?                                                                        

Hotel:            16 % of the total GFA (Gross Floor Area)
Residential: 40% of the total GFA
Office:            33% of the total GFA
Retail:            8% of the total GFA 
Leisure:         3 % of the total GFA
Open Space: 56% of the Podium Area

4. What is total number of units in the development?

Residential:                 1440
Branded residential:  827
Services apartments: 618
Retail:                            Under design
Office:                            1380
Hotel rooms:                6 hotels, 1400 rooms

5. Key facts & figures

(1 sq m = 10.76 sq ft)

Gross Floor Area (GFA) :       10 million sq ft - (Actual 9,661,181 sq ft)
Total built-up area:                  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 (Actual 15,515)
Total foot print:                          775,000 sq ft ( Actual 774,360 sq ft)
Circular site footprint:             1.8 million sq ft (Actual 1,753,984 sq ft)        
Total Retail GLA :                     580,000 sq ft(Actual 581,582 sq ft) GLA - Gross Leasable Area          
Total open space:                    55%
Landscaping:                            45% of the project area
No of entrances:                       5
No of theatre seats:                 approx. 1800
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?

• It’s all-inclusive:
  • Integrated Work, Play, Stay and Live in one destination
  • Its 24 hour ‘walkable’ city environment 
  • Luxury commitment to convenience
  • Interconnectivity – built-in access, smart technology throughout the development
  • Free zone/ Freehold
  • Prime location – overlooking Palm Jumeirah, Dubai Media City
  • International brand associations – Baccarat, Valentino & more to be announced
  • High Space efficiency – column free offices
  • Easy Access to transport links & private beach club on The World Island

• For engineering purposes, the Dubai Pearl is treated as a single project whereas for normal city planning purposes, designers would treat each structure and component separately. 
• The project’s mechanical and electrical design is extremely complex as it has to consider the need for approximately 36,000 tons of cooling load and also the installation of 120 separate electrical transformers.
• The architecture, designed by Dr. Schweger, allows for column free interior spaces, thereby allowing an interior space utilization efficiency of about 20% more than what is standard, something that is unrivaled in this region.
• We also save valuable resources by utilizing Green technology to conserve energy, recycle waste, and reuse assets wherever possible thereby allowing Dubai Pearl to achieve the LEED Gold certification.
• We ensure that a tight-knit team of hospitality professionals will proactively take care of the customer’s every need without compromising service or quality.  

8. 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.

9. How many people are expected to live and work at the Dubai Pearl?

No of population residents:    approx. 9,000
No of office employees:           approx. 12,000

10. What is the profile of Dubai Pearl buyers?                                                                                              

Dubai Pearl real estate has been sold to almost 40 nationalities:

The buyers are a combination of long term investors and end users. Dubai Pearl has attracted clients from the following nationalities, American, Australian, Austrian, Azerbaijani, Bahraini, Belarusian, British, Canadian, Chinese, Dutch, Egyptian, Emirati, German, Indian, Iranian, Iraqi, Irish, Italian, Japanese, Jordanian, Kazakhstani, Kenyan, Kuwaiti, Lebanese, Pakistani, Palestinian, Portuguese, Russian, Saudi, Singaporean, South African, Swiss, Syrian, Khirgiz, Ukrainian and Yemeni.

11. Percentage of the overall property that has already been sold?

Over 90% of the released property has been sold; the equivalent of 60% of the project’s sellable area. (May 2009).

12. 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 in luxury brands

• Baccarat for the Baccarat Hotels and Residences
• MGM Mirage 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.

13. 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.

 

Company Background

1. Who is Pearl Dubai FZLLC?

Pearl Dubai FZ LLC is a consortium of investors led by the UAE’s Al Fahim Group and developers of the Dubai Pearl luxury development.

2. Who are the people behind the company?

Abdul Majeed Ismail Al Fahim is the Chairman of the Board; the President and CEO is Santosh Joseph, a veteran investor with an in-depth knowledge of the region’s real estate sector. The financial and business acumen of the remaining directors on the board makes the company a repository of innovation.

3. Who is the owner?

Pearl Dubai FZ LLC is owned by a consortium of investors led by Al Fahim Group.
Al Fahim Group comprises a wide range of activities, encompassing the Automotive Industry Hospitality& Hotel Industry, Oil and Gas Sector and Real Estate.

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?

Please see PEOPLE section of our website. The people behind the project are industry veterans and are considered among the best experts in their fields.

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. Thus change of ownership was agreed upon, development has been redesigned and buildings torn down. Construction of the new development has commenced.

TECHNICAL QUESTIONS

1. Facts & figures

• 73-storey structure comprising 4 towers joined at the top
• Concrete :1.2 mil cubic meters
• Steel:
  • Reinforcement: 120,000 tons
  • Structural: 50,000 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.

 

CONSTRUCTION STATUS & TIMING

1. When will the whole project be completed?

Dubai Pearl is a three-phase project with first handovers commencing in December 2011.
All the phases will be completed by 2013.

2. How many phases are there?                                                                                       

Dubai Pearl is a three-phase project.

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 and the Dubai Metro by bus and taxis.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?

• Piling Works for all four towers completed
• Rafts for four towers completed
  • Tower 1 Raft Pour – 27th August 2009
  • Tower 3 Raft Pour – 10th September 2009
  • Tower 2 Raft Pour – 1st October 2009
  • Tower 4 Raft Pour – 12th November 2009
  • Water proofing for rafts of all towers completed
  • Casting of Columns in progress 

FINANCE & INVESTMENT QUESTIONS

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 US$ 4 billion development.

3. What are the sources of finance for the project?

The project is being financed by a combination of three sources

• shareholders’ funds
• pre-sales
• bank debt - not required at present

4. What payment options do you offer?                                                                       

50%-70% during construction & 30%-50% on delivery.  

5. What finance options are available for customers?             

Dubai Pearl provides attractive payment terms for end–users.Negotiations with mortgage providers are in progress.

 

VALUE-ADDED SERVICES

1. What are the services available at Dubai Pearl to residents and tenants?

The categorized list below provides an envisioned list of services that will be available clients of Dubai Pearl as per their requirements.

1.1 Personalized Services

• Concierge Services: Typical concierge duties include booking & servicing cars, event planning, picking up dry cleaning, relocation & travel arrangements, mail pickup, meal pickup, dinner reservations, concert/movie reservations, personal shopping, organizing events
• Valet Services: These services include: Child care, light housekeeping, plant care, interior decorating, maid service, securing the residence or office.
• Housekeeping: They involve one or more of the following activities: changing linen, cleaning fixtures & furniture, cleaning floors, commercial cleaning, gardening/landscaping service, swimming pool maintenance, emptying trash and recycling bin, cleaning carpets and other special surfaces, stripping and waxing floors, changing or replacing towels and toiletries, cleaning bathrooms, kitchens and pantries.
• Transportation: Services include charter of chauffeur-driven limousines, minibuses and euro-class level buses with passenger capacity from six to 50 passengers.

1.2 Managed Services

• MICE (meeting, incentives, conferences and exhibitions):  Corporate Meetings & Events, Product Launches, Training & Education Programs, Team Building Days etc.
• Digital Data Storage: A common repository of critical information across various data and media types delivering information on demand through a wide variety of access points.
• Corporate & Secretarial Services: Such services include but are not limited to desktop publishing, engaging business presentations, telemarketing, direct and digital marketing, mailing services, and any other general for-hire office services.
• Community Portal : The community portal can be used for a variety of purposes incl. online maintenance requests and be accessed anytime with the click of a mouse, from the comfort of a home or an office. Once an in-suite maintenance request is completed, the resident is immediately advised via e-mail and provided with an online survey which allows for instant feedback.

1.3 Industrial Services

• Facility Management: A full range of facilities management services will be on offer at Dubai Pearl.
• Building Management: Control of energy use - reducing the amount of energy consumed and paid for. It can include remote dial-in and technical assistance from our partners.
• Logistics: The prime objective is to provide a guaranteed logistics and delivery. In order to achieve this, we will employ well-maintained trucks and tractor-trailers, backed by around-the-clock roadside assistance fitted with GPS to precisely track shipments at any given moment.  This is in addition to storage facilities which will be temperature and light controlled to ensure the right conditions for all types of material.
• Storage: We provide own private space that can be accessed as often as required during the access hours (or by prior arrangement). All facilities are insured, fire proofed and temperature controlled.
• Asset Tracking: The Asset tracking service lets you view your asset's locations, use 2-way SMS, configure alarms to monitor your assets, add users to your account. In addition you get in motion updates and alerts, ideal for tracking vehicles, containers trailers or any item that accepts a tracking device with daily location updates.
• Water, Electricity, Gas, Waste Disposal Services: Range of services from energy purchasing at the lowest possible price, tariff analysis, selection and load management to analysing water bills and recovering past water/ sewerage overcharges, monitoring consumption and implementing resource savings measures.
• Security & Access Control: Our security services guarantee the highest levels of security arrangements. These include reception duties, document management, trained first aiders, pass issuers, car park and CCTV monitoring and patrolling of the entire perimeter.
• Health, Safety, & Emergency: The emergency response team is directly linked to an emergency command center.  Direct links are available with state security and civil defense to monitor and manage all types of emergency situations.

2. How many gyms is the project going to include?

The project will be serviced by one main Sports Centre and a Holistic & Wellness centre; in addition, smaller scale gyms will be available in most towers and hotels

 

SPECIFICATIONS

1. What are the finishes selected for various components of the development?

Unbranded apartments - Towers:              

• Choice between marble or parquet flooring
• Tile flooring in the kitchen
• Fully fitted branded kitchen appliances/ two built-in ovens/ dishwasher / microwave/ fridge
• Higher-end apartments will also feature a beverage fridge
• Floor to ceiling windows
• Soundproof/noise proof windows
• Built-in cupboards
• Extraction systems for kitchen and bathrooms
• Marble in the bathroom
• Built-in water sprinklers for fire
• Integrated sound system                                                                                               
• Top of the line technology (office and home space) in all communication and control equipments, in addition to high-end home automated systems.

 

 ENVIRONMENT & SUSTAINABILITY

1. What green/eco-friendly aspects are incorporated into the project?         

In addition to being a completely walkable development, Dubai Pearl will include landscaped areas. Low rise buildings will also target The Leadership in Energy and Environmental Design (LEED™) certification.

Additionally, the SterenSYS special system will be implemented to reduce electricity, gas, and water usage throughout the project by efficient monitoring, analysis, and control of utilities in the building. Better utilization of lighting control, air conditioning, and car park ventilation all contributes to a Green friendly environment for the Dubai Pearl Community.

2. What level of LEED is Dubai Pearl aiming for?                                                                         

Gold LEED Certification for the Towers

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 and motion sensors will be installed in hallways.

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.

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.

7. Has an Environmental Impact Assessment Study (EIA) been carried out?

Yes, by Dome International

 

RERA / LEGAL QUESTIONS

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 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.

2. Will I get a residence visa if I purchase a property in Dubai Pearl?

It is currently not possible for residential buyers to obtain residence visas.  Buyers of offices will get a business license that will allow them to issue employment visas to staff.

3. Summary of Law no. 13

Please refer to site:
http://www.clydeco.com/knowledge/articles/dubai-real-estate-alert-pre-registration-law.cfm

4. Summary of Strata Law

Dubai Law No 27 of 2007, the “Strata Law” (sometimes referred to as the Jointly Owned Property Law) came into force in April 2007.  The Strata 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 Strata Law’s associated regulations that are necessary to give effect to the implementation of the Strata Law have yet to be issued by the Dubai Land Department but are expected in the very near future.  The strata title structure adopted for the Dubai Pearl development will be adapted to ensure it is compliant with any regulations issued.

5. What are the key regulations 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 Law of the Dubai Land Department.

6. What are the key regulations for cancellation?                                                                                                  

Cancellations are handled on a case to case basis and as constituted under the terms of Law no 13 of 2008 set by the Dubai Land Department

7. Right of First Refusal                                                                                                                         

The Buyer shall give written notice to Dubai Pearl of its intention to assign, sale, dispose or transfer and shall simultaneously offer such assignment or other disposal to the Seller 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 a 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 during a set period in the Sales & Purchase Agreement 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. After the said period, the previous provisions shall re-apply in respect of any proposed disposal.

8. What are Dubai Pearl ESCROW Account details?

Refer to site:
http://www.clydeco.com/knowledge/articles/escrow-law-dubais-new-regulations-for-the-sale-of-off-plan-units.cfm

Mashreq Bank
Escrow account No.4498000113
Registration: 2007/219