Masterkey Blog

The Big 5 - Dubai’s top five projects to watch out for

top5-canal

Guest Blog Post - Written by Homely.ae

There are so many projects out there that keeping track of all of them is likely to leave you feeling very overwhelmed. Here’s our list of five top developments to keep your eye on.

Dubai Water Canal

One of the world’s most unique waterfront destinations, the $545 million Dubai Water Canal Project will transform Business Bay, connecting the nabe with the Arabian Gulf over three phases. Expected to be complete by October 2016, the project will feature a shopping centre, four hotels, 450 restaurants and cycling trails. Offering luxury housing for the savvy investor and renter, the project is expected to also provide new areas for public facilities, private marinas and a trade centre at the entrance of the canal. Even more impressive is the fact that the canal itself will be six metres deep and bridges eight metres high to allow yachts and marine craft to pass through!

View Properties around the canalFor SaleTo Rent

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Museum of the Future

Housing some of the world’s latest and craziest inventions, The Museum of the Future project expected to cost over $200m and located near Dubai’s financial district, just minutes away from the iconic Burj Khalifa, will showcase innovations – complete with dramatic soundtracks and videos with robots engaging with guests as drones fly overhead. Anticipated to be an incubator for ideas and a driver of innovation, the architectural wonder will be built in part using 3D printing technologies. Scheduled for completion in 2017, this big-budget attraction will look to encourage designers, researchers, scientists and entrepreneurs to collaborate in the development of new technologies.

MBR City – District One

Spread across 1,110 acres, the super luxury $10 billion Mohammed Bin Rashid Al Maktoum (MBR) City – District One project will be located within minutes of Burj Khalifa and Dubai Mall and feature a 7 km stretch of Crystal Lagoons for swimming and kayaking, the world’s largest artificial beach, a 14 km boardwalk and cycling and jogging tracks. Tipped to become the world’s largest man-made waterbody of its kind, the lagoons, will be spread across 90 acres and be surrounded by sandy beaches, a beach club, a recreational island housing a football ground, cycle tracks, tennis and basketball courts, retail areas and waterfront dining haunts. The project will also house thousands of luxury villas inspired by Arabic, Mediterranean and Contemporary styles set in bold and inviting villa communities. Not to be missed.

View Properties in Mohammed Bin Rashid CityFor SaleTo Rent

Al Habtoor City

The $3 billion Habtoor City, the world’s biggest luxury residential, leisure and hospitality development under construction, will comprise three luxury residential towers, a French-inspired garden, an iconic Las Vegas style aqua theatre and the world’s first Bentley café. Residents will also be able to enjoy world- class amenities within the residential towers, including a state-of-the-art fitness centre, the UAE’s largest pool deck and breathtaking city skyline views. And a boulevard lined with stylish cafes and boutiques, a marina, a tennis academy and amenities in the three Starwood hotels and, hold your breath, Dragone theatre productions designed exclusively for Al Habtoor City! The project is expected to be complete in 2016.

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Aladdin City

Dubai has given the green light to yet another ambitious project: Aladdin City. Suspended over Dubai Creek with golden walkways and towers designed to resemble genie lamps that will shimmer golden in the sunlight, Aladdin City, inspired by Middle Eastern folk tales of Aladdin and Sinbad, will feature three towers linked by air-conditioned bridges with a moving floor. The outlandish project will also include towers of 34, 26 and 25 storeys, commercial and hotel areas and parking spaces for 900 cars and encompass 4,000 acres in total.



About Homely.ae

This content has been created by Homely.ae -the only property portal providing verified listings, unparalleled content and unique features like SmartSearch all within contemporary and clean design. Built on a technology platform that is the most advanced in the region, it delivers consumer experience that is unrivalled.


Deal Alert: EZHeights offers an exclusive deal for Masterkey clients


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Is your competition killing your online listings by posting multiple listings a day for the same property? Sick of seeing four-bedroom villas being listed on Palm Jumeirah for AED 1? With EZHeights, UAE’s most reliable property listing portal, listings are manually approved so you’re guaranteed of quality listings.



Take advantage of the two-month free trial with EZHeights and enjoy the following benefits:

  • Posting of unlimited property listings

  • Properties highlighted on the Recommended Property section

  • 1 impact banner on the detail page

  • 100 refreshes a day


This free trial is valid until July 31, 2015.  

 

For more information about this offer, simply email mm@ezheights.com or contact +971 50 911 8728.

 


Company Profile

EZHeights is an innovative, one-stop online portal for buying and selling. It’s a dynamic destination for hundreds of new listings and thousands of red-hot buyers.    

 

With an advanced, built-in technology and user-friendly design, EZHeights makes it simple for sellers and buyers to find exactly what they’re looking for. Ensuring the quality of listings, EZHeights manually approves its property listings making them one of UAE’s most reliable property portals.  


Deal Alert: Get started with PropertyWifi.com and sign up for a free trial!

 

 

Interested in listing on Propertywifi.com? Sign up now and enjoy the benefits.


Propertywifi.com has just announced an exclusive deal for Masterkey customers.


Discover how easy it is to post and promote your listings using Propertywifi.com proprietary professional terminal.  No monthly subscription.  No exit clauses to tie you in.


Your free trial will include:

  • Mobile listing display

  • Bilingual listing display

  • Secure login to your Professional Terminal (back end listing management system)

  • Central listings dashboard

  • Centralized leads activities

  • Beta exclusive one additional language to your Professional Terminal  

 

This free trial is valid for the Beta duration which is a minimum 3 month period from the sign-up date and is subject to terms and condition.  The free trial is only for the first 30 companies so hurry and sign up now.


Please visit Propertywifi.com to register or send an email to info@propertywifi.com to know more about the promo.  




Company Profile

Propertywifi.com is an Arabic and English property search engine focused on the Residential, Commercial, Industrial and Agricultural sales and rental market in the United Arab Emirates. It is owned and operated by Property Wifi LLC a Limited Liability Company, a member of the Sheikh Khalifa Fund for Enterprise Development and Dubai SME.


Launched in February 2015, the beta was developed by Propertywifi’s in-house talents, dedicated team of design, programming and business specialists, using the latest technology to enable a detailed and visually stunning showcase of property advertising.  


Propertywifi.com will be announcing a series of innovative products over the next several months that will expand UAE real estate professionals reach and ability to communicate and sell into new markets.


Ejari Integration news around the web

With the news about Masterkey’s Ejari integration making it’s way around the media world we thought we’d collect some of the main points of the news stories for you to read.

Summary of the news

  • Masterkey is the first and only non-government software to have integrated with Ejari.
  • You can create an Ejari certificate with one click.
  • Masterkey can help you with mapping existing tenancy contract.
  • The first live integration is already up and running, more are already in the pipeline.
  • Property managers now find it easy to synchronize their data with Ejari.

The main quotes

H.E. Sultan Butti bin Mejren, Director General of Dubai's Land Department

“This integration reduces the time and effort for users by electronically synchronizing both systems. Since Masterkey is linked with Ejari, you will be able to generate the Ejari barcode and registration number directly from Masterkey making it easier for the public to obtain Ejari contracts.”


Daniel Hart, CEO of Masterkey

"This is a fantastic time saver for property management companies that need to comply with RERA regulations and we fully support the government's drive to create more transparency in the market. Up until now registering tenancy contracts in Ejari has been a time consuming task for most of our customers."


Mureed Mustafa, Director of Operations from ERES

“We are very pleased that Masterkey has shown such dedication and has become the first non-governmental entity to integrate with our Ejari system. We reviewed the integration and found it to be a very thorough. It solves many problems for the Dubai property managers.”


Ryan Mahoney, CEO of Better Homes

"This integration drastically reduces our overhead. We were spending in the range of 2,000 hours a year to copy data into the Ejari system. Now we can simply update our information in Masterkey, which will then register new leases in Ejari at the click of a button."


Media Coverage

Daniel Hart, CEO of Masterkey was a guest on “This Morning with Andrew Hosie”

Zawya - Announcing the Masterkey Ejari Integration
February 2, 2014


Trade Arabia - Masterkey completes integration with Ejari
February 2, 2014


The Gulf Today - Masterkey completes integration with RERA’s Ejari
February 4, 2014


Gulfbase - Masterkey completes integration with Ejari
February 3, 2014



Ejari Integration now live in Beta!

 

 

 

 

 

Masterkey is the first and only non-government software to integrate with RERA’s Ejari system, saving Dubai based Property Managers both time and tear-inducing ‘manual work’ to comply with regulations.

 

What is Ejari?

 

If you haven’t heard of Ejari before, it’s the online system that tracks lease agreements across the emirate of Dubai. You could say Ejari’s ultimate goal is to track the rental price of every single unit across Dubai and have them all registered in one system. That’s a lot of data entry, and someone has to do it! Property Managers (and some typing centers) are usually stuck with the job.

 

Why is Ejari important?

 

When filled with the rental data, Ejari allows the government to refine their real estate rent index. That index in turn protects both landlords and tenants from unfair rental rates. Rent escalations are restricted to government controlled percentages and landlords would also be able to ensure that their rent is not too far below market averages. Also when there’s a dispute, a full audit would be available inside the one system.

 

Up until now the supply of data to Ejari looked like this:

 

So what is the integration for? 

 

At Masterkey we’ve now managed to take out the time consuming manual step in the middle.

 

We’ve essentially built a bridge between the two systems, allowing the data to flow seamlessly from one to the other. Along with this bridge we can assist with mapping existing data between the Masterkey and Ejari so that existing leases match up. 

 

Does it work?

 

Yes. We’re already live with some existing customers and can create and terminate tenancy contracts in Ejari with the click of a button. Without even entering the Ejari interface Property Managers can print official Ejari Tenancy Contracts and Registration Certificates. These documents are the same ones used by the tenants to register for DEWA and other services.

 

Who gets the integration?

 

All Property Management clients who are using Masterkey can be upgraded with this new system integration. Contact us to learn how we can help you comply with the Ejari requirements and save yourself a lot of time. http://www.gomasterkey.com/contactus/index.aspx

 

 

 


RERA: Fines to agents who flout brokerage rules

By Gokhan Polat, Community Manager


I recently read an article on The National about how Real Estate Regulatory Agency (RERA) is planning to fine individual agents who are passing on confidential information or handling transactions without the approval of their company. According to Sultan Al Suwaidi (RERA), the breaches range from ‘cooperating with unlicensed brokers’, ‘failing to keep brokerage and client information private’ and to ‘closing contracts without the brokerage’s knowledge’.


I can definitely see how these breaches are problematic for brokerages, but I’m still stuck with a question is my mind: Why do we have these issues in the first place? I thought I’d ask Daniel who has been working in the Dubai real estate sector for more than 9 years.


“There are a number of reasons for why an agent would feel compelled to do a deal outside the brokerage. Some agents feel that if their brokerage was not involved in the deal, why should they share the commission? The agent’s argument is often based on the fact that you can meet potential buyers/sellers who haven’t had any interaction with your head office, especially if it’s a close friend or a relative the agent has known for many years prior to joining the brokerage.


Another factor is that many agents in their home country would have been able to do the transaction as a freelancer without the brokerage. In the UAE it’s near impossible to legally operate as a freelancer so many resort doing these deals well-knowing that it’s outside the rules.” - Daniel Hart, CEO @ Masterkey


So would the threat of fines force agents to comply with the rules? It’s an attempt to solve the problem, but a very tough one to implement. The main issue is that non-registered freelancers are allowed to get away and close deals. Before RERA can start giving out penalties to individual agents, it needs to have all property listings registered with Simsari and make sure that only the agents who have been registered can sell the property. This assures that RERA know who’s allowed to do the transaction.


In order for that to work, every advertising portal needs to have a Simsari number for each listing in the system and ensure that the Simsari number is verified. This will be difficult to enforce, because it requires getting the brokerages and advertising portals to collaborate with RERA much closer than they are today.


RERA could start giving out penalties based on accusations of outside brokerage deals, however this will not stop these deals from happening and may even force agents to use more illicit methods.


source: www.thenational.ae/business/property/brokers-to-take-heat-for-rules-breaches


Breaking News: Simsari.ae announced and what that means for brokers in Dubai

Simsari.ae has finally been officially announced, appearing today on the Emirates 24|7 website. 

 

Highlights

 

The main highlights of the announcement are:

  1. RERA has ordered all brokerage firms to register their available properties on Simsari.ae.
  2. The deadline to register your company is August 31, 2012.
  3. The system will be mandatory by September 1st, 2012.
  4. RERA approved brokers who fail to register will be penalised.
  5. Listings will be free (according to information from May).

The Emirates 24|7 article is a little lacking on details such as how brokers who fail to register will be penalised, but they do hint that RERA may in some cases fine brokers instead of the brokerage firms.


What you need to do about it

 

Some pretty obvious questions pop up around this. Why is this being done and what do I need to do about it? The Simsari main website is offline as of this posting, but we can spill what we know so far.

 

To be clear, the first time Masterkey heard about RERA’s plan to launch Simsari was in 2010 and since then we’ve met them many, many times. We’ve had detailed technical discussions on how our systems will integrate and attended the pre-launch Simsari training session with several large brokerage firms. Simsari has changed tremendously over this time and we’ve waited to see what the final product looked like before making any announcements.

 

At this time we are approximate 60-70% complete with our technical integration, so with RERA’s support we should have both systems up and running by the time they launch fully.

 

In order to help you in the meantime, we’ll be posting some very detailed step-by-step instructions about how you can comply with Simsari, both as brokerage firms and as individual brokers.

 

Stay tuned for end of day tomorrow for the link. We’ll also give you a run through of what you need to do along with some screenshots of the system and keep you posted if anything changes.

 

UPDATE 30 July 2012 - We've now posted our Unofficial Guide to Simsari.

 

Links: Original Emirates 24|7 Article


RERA warning to Dubai's property brokerages

The Dubai Real Estate Regulatory Authority (RERA) has recently put in place conditions for the advertisement of real estate services and properties in mainstream media. As a real estate agency in the UAE this means that you must publish your RERA registration number on all published advertisements across all media channels.

 

As our customers regularly use Masterkey to publish their listings to portals on a daily basis we’ll be incorporating your agency’s registration number automatically into every listing you publish. We’ve started working on the changes and we'll let you know when they have been implemented.

 

At Masterkey we’re always following news that affects regulation closely and are prepared to help our customers comply with any regulatory framework.


Zavanti - how it works with Masterkey

Simply put, Zavanti is an ERP built for the Real Estate industry. It’s extensive, covers in-depth project-based accounting for Property Developers, Builders, Contractors and Property Owners and it is, frankly, hard to grasp at first. It’s the sort of thing that if you dream about what an ERP could do for you as Property Developer, you might end up with Zavanti after 10 years of work. If you’re lucky.

Zavanti was built in Australia, has been used for 20 years and has been continually revised and updated. It’s tried and tested, and Developers around the world swear by it. If we only focus on the Property Developer part of Zavanti, it will pleasantly fit in this simple flowchart.


Feasibility

If you don’t know what feasibility is, then you probably don’t need it! It’s what happens before the start of a project. You work out what the project will cost, what loans you will need to finance and how your cashflow will look like. Intuitive and well designed, Feasibility lets you play with several scenarios to explore your options.

Budgeting, Funding and Forecasting

Aptly named, this module can import from Zavanti Feasibility (or Excel) giving you a budget to work with. Variations from the budget require approval, so you’re protected from unknown cost overruns and can track the project down to the smallest expense.

Tendering, Task & Contract Management

Once you have the budget, you move forward to assigning contractors and consultants to manage your project. This can be done directly with the sub-contractors or you can set it up as a head contract - you can even set limits on who can approve what expenses.

Construction

This is where it all starts... at least visually! Zavanti dives into the minute details for managing the construction phase: Invoices from suppliers, variations management, progress claims, vouchers, budget to completion and much more. It’s all the essentials that you wish weren’t needed, but unfortunately are.

Completion and Reporting

Big spreadsheets with informative graphs, Zavanti has all of those reports. It will sum up the project for you and give you an understanding of how you can do it better next time.

How it works with Masterkey

For a Developer, Masterkey handles everything that Zavanti does not: Marketing, CRM, Leads and most importantly, working with external agencies. The only overlap between the two systems is at the point where data flows from Masterkey into Zavanti. Integration is done simply through the Masterkey API and feeds into the appropriate databases in Zavanti. Most companies love the fact that Zavanti, with all the financial data, can be stored on a local server, while Masterkey is hosted online, easily accessible and connected to other online resources.

Masterkey is Zavanti’s Middle East partner, and Zavanti is Masterkey’s Australian partner. The bilateral partnership allows both companies to provide exceptional on-the-ground support for both applications, satisfying local requirements.


A first look at the new Property Finder! It goes live at 12:00!

We got an early look at the new Propertyfinder.ae website and we have to say it’s impressive. Here are our thoughts, before it even launches! You can see it live at noon UAE time on March 24th for yourself. Here’s a preview of the main new features.

The Home Page – Old vs. New

 
Gone is the flat dated look of the old website. The new home page has a fresh look, very Web 2.0 and with emphasis placed on the right areas. You can see where the features have carried forward from old to new, but each feature is much better ‘weighted’, with importance placed in the areas where users need it most. This is especially true with the new search box which is fun and easy to use.
The OldThe New

The new Search Box

 
The search has improved dramatically and we must say, rivals even the best of websites in the western world. You can enter any combination of search filters, for example:
 

As you type the search auto-completes with the relevant text and is just intuitive and fast. It saves a lot of time in what would normally be a selection of drop downs and a tedious process.

One thing we did find strange in this is that the webid or reference isn’t included in the main search. There’s a small link to click, then a new box to type the ID in to. This seems strange when you have so many other choices on the main search, I would think merging the two would save users from looking in two places.

Find an Agent

 
What looks to be a promotional page for agents is actually a great indicator of how we’re doing in the market. 14 out of the 39 companies listed use Masterkey to manage their listings and we’re in talks with many more.
 
 
 --> becomes --> 
 
As a feature though the ‘Contact by phone’ starts as a button then when clicked changes to the phone number. That’s a neat way of both tracking number of leads as well as giving the phone number to the customer quickly and without hassle.  Measuring the number of leads generated is a vital statistic with any portal.

Social Media & Sharing

 
The social media integration is pretty basic. You can share a link via facebook or twitter. None of the advanced features that you find on western websites, but that’s to be expected in this area. I’m not sure how much that would be used as usually it would be the agent who wants to share a property, not the end customer.

“Make an Offer” looks good, but what does seem to be missing is the "email this link to a friend". That would be a useful addition.

Market Price

 
A neat feature that gives you some indication of price. This existed on the previous version but has had the interface improved. I do think the layout is a bit confusing. The search box is below the results while it should be above, and when you click search a mysterious box appears, then disappears then gives you the result. I think that can be improved with a little bit of work, but overall it works.

Conclusion - two thumbs up!

 
The new design brings propertyfinder.ae to the forefront of portals in the UAE. Definitely a company to consider when you’re listing your property. Hopefully Property Finder will share their statistics on how many visitors have come to the site since they launched. We wait to see if the general public likes it, but from our initial perceptions it definitely will be a hit.
 
More screenshot goodness: