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 S. S. LOOTAH REAL ESTATE
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Declining rentals    

commenting on the trend in declining rentals in Dubai, Saleh said it bodes well for the city as it makes it more cost efficient to locate business here.  Dubai rentals had reached unrealistic destination in the Gulf. Saleh said.

Keen competition among the properties in the city is the basis of the decline in rentals.  This situation is bound to intensify more with the new developments under way.

On its own,  SS Lootah Real Estate is currently building three different projects.  These are an apartment building of 240 units in Sharjah, 100,000 sqft. commercial and office complex in Dubai, 42 villas in Abu Hail, Dubai.  Recently completed is a building housing 85 studio apartments in downtown Dubai.  With these constructions, SS Lootah Real estate now has the entire range of residential and commercial accommodations in the three emirates.

These include fully serviced labour camps, warehouses, shops as well as luxury apartments and villas.  Due to start construction this year are two projects; 1 7-storey office block on Maktoum Street, Dubai and another 9-storey building for luxury apartments also in Dubai.  These developments due for completion two years hence will increase the total rental leases owned by the company to 1500.

 

In managing the vast properties, SS Lootah Real Estate have incorporated a state-of-the-art software that is custom dsigned to operate with an edge and meet all facts of real estate business.  This includes operation of the maintenance service ensuring prompt execution of jobs.

 

Dedicated to provide total satisfaction and security to tenants, the real estate division operates a 24 hour secuity system that is manned by a maintenance team that is second to none.