Iraq Property Investment! - Tarin Hills announced by Damac

Yes you read correctly, Iraq. Yes Iraq could be the new property hot spot! Well believe it or not but today the well known Middle Eastern developer DAMAC has announced its plans to build a $4.5billion mixed-use project in Kurdistan, Iraq.

Located in the town of Erbil, the 170 million sqft Tarin Hills master development is a conglomeration of residential, retail, commercial, hospitality, entertainment, health and sporting facilities.

Peter Riddoch, CEO of DAMAC, said that the project will help deliver a much needed centre point from which to start the region’s transformation. “The hills of Tarin will be transformed into a golf course residential community with villas surrounding and intertwined amongst the 18-hole course,” he said. “This community will be augmented with a golf club and health centre, which will be a focal point destination for recreation and leisure. In addition to this, the community will encompass a water and theme park, arts and crafts centres, retail complexes, besides schools and business parks.”

To entice investors wary of the region’s may security problems, DAMAC said that Tarin Hills will exist as a fully gated community with security fences, 24-hour guards, a police station and a civil defense base on site.

Nechirvan Barzani, prime minister of the Kurdistan Regional Government of Iraq, welcomed the initiative and thanked DAMAC for working to help boost the region. “The Tarin Hills development will not only help promote the global face of Erbil, it will also create jobs and support growth in related sectors, such as tourism and hospitality. We thank DAMAC for taking this initiative, which is very positive statement and symbol of the stability and growth potential of the Kurdistan region. We are confident of the success of this project and pledge our full cooperation with DAMAC and its investors in making Tarin Hills a world class development.”

So holiday in Iraq may not be so far off a possibility as you may think! I think some enticing of investors may well be required but. However DAMAC quite rightly has some very loyal clients and we are very supportive (as one of their agents) is their projects in the Middle East and more recently in Cairo and soon near Hurghada. I look forward to seeing the due diligence on this one when ready and I am sure Iraq property discussion will continue for a long time now.

Cairo Concorde, Centre Ville- Pre Launch from Damac

As Cairo is rapidly growing and Egypt’s wealth is growing I saw a shortage of quality rental property. Damac, rightly famous for very high quality Dubai developments, have launched their second project in Cairo. Prices from £64,000. Launch Offer ends Wednesday. Call +44(0)113 3131000 or email info@jet2letproperty.com for more details or for invitation to launch event in London’s Docklands next week.

Area Information:

The New Cairo district, referred to as the “Land of Gold”, is in a unique strategic location. It has the hallmark of being one of the best new urban developments in Egypt, adjacent to the main Southern Highway Route that serves road traffic to all of the coastal tourist areas on the Red Sea, Hurghada, Al Ghouna, Quesir, and others. There will be a bridge linking new Cairo to Giza and the Pyramids and it is only 20 minutes away from Cairo International Airport.

Inspired by the beauty of the old Cairo Downtown building architecture and the magnificent design, Damac wanted to bring back the glorious time of Downtown Cairo.

Away from all the traffic and road congestions yet at the same time right in the heart of the hip and happening in the Newest part of the Oldest City in the world, Damac has chosen the perfect location for its new development, New Cairo. It is to be the home of the American University in Cairo and the German University in Cairo. It is located on a unique spot in Cairo – Hurghada Highway – which also brings it closer to other fantastic Red Sea resorts, such as Ain al Sokhna which is less than 2 hours drive.

ABOUT CONCORDE:

Set within a cluster of 10 blocks, and each comprised of several buildings, Concorde captures the spirit of turn of the century Parisian architecture with its decorative iron railings, stone cornices and tall window openings. Several façades lined side by side evoke a “city block” feel and are lined by a wide tree lined sidewalk and ample surface parking.

Green pocket parks are captured in the internal courtyards of these blocks for the pleasure and use of its residents, in addition to swimming pools for the exclusive use of the Residents

APARTMENTS:

The apartments are beautifully crafted and detailed in line with its architectural reference. These elegantly designed interiors also offer majestic views of the spectacular outdoors.

The buildings will be 6-storeys.

Your 1, 2, 3 and 4 bedroom apartments will be the ideal place to spend quality time with family and friends.

LAUNCH DATA:

The Concorde Apartment Launch will be for one week starting today, where we will offer the Below Launch Discounts on (Block 1-3 and 10)

Noting that Block 1 and 3 are semi finished apartments and block 10 is Finished Apartment (Classic - Finish)

1- 1 floor - same Building : Discount 3% on the attached price

2- 2/3 Floors : Discount of 5% on the attached Prices

3- 1 building : Discount of 8 % on the attached prices

Service charge:

5% of unit price is collected as a deposit and the interest generated from this fund will be used towards payment of service charges. Any shortfall will be compensated by a charge per sqm. The 5% deposit has to be paid in 10 equal installments along with the unit installments (as per payment terms). While informing the client kindly add this 5% to the List Price

Assignment fees: 1.5% for bulk (4 units or more), 3% for individual unit

Clubhouse: Buyers will be given a preferential rate to make use of the club.

Delivery Date: Dec 2012

ABOUT CENTRE VILLE:

Enter the gates of Centre Ville and capture the elegance and beauty of the French style of architecture.

640,000 square metre development.

Reminiscent of old Downtown Cairo’s belle époque architecture, Centre Ville recaptures the spirit of Parisian architecture that made Downtown Cairo so appealing, walk able and enjoyable as a place of residence.

The apartments and retail will be encased in several architectural styles particular to that period of history, evoking the grandeur, luxury and charm of that era.

Centre Ville comprises of apartments and will be the backdrop for your dreams to become a reality and the palette for the creation of extraordinary memories.

This unique apartment community will also include prime retail.

Living here is designed to give you total peace of mind and privacy, as Centre Ville is a private gated community with 24-hour security and controlled entry.

Located in close proximity to Park Avenue at New Cairo – the biggest retail destination in the Middle-East, Centre Ville is also close to Heliopolis and Nasr City.