You have asked many questions, let me answer each specifically. However, the overall conclusion is the same as Ayesh and Henning - you are a high risk applicant and are most likely to be rejected.
first one is can i show a hotel reservation from booking.com(free
cancellation,pay at hotel) as my accommodation?
Yes you can. I have used this many times (and for the Netherlands as well). The reservation should clearly state your name and the dates as well. You can print the email that booking.com sends you.
also I am currently undergraduate i will be graduate end of this year
after four years of studying.i can show university letters is that
will be enough as a valid reason to come back to my home country ?.is
it required to have properties and deeds(my parents live in Dubai
still all the properties belong to them legally).
You also need a "no objection letter" from the university.
Generally speaking a university letter alone is not proof of ties. "Proof of ties" is another way of saying "things that will make sure you return back". A university admission letter falls short of that.
You mentioned your parents have property in Dubai. This is great for them, not so great for you. If you have permanent residency in Dubai, it might be better if you applied from Dubai.
They send my expenses every month. this time they send extra money for
the trip.Do i need to proof that i got money from my parent as a
gift(to prevent illegal mean as a refusal point)?.
As mentioned by Ayesh, your bank statements will work here, and you can explain (in the interview) that your parents are supporting you as you are a student. You may want to consider adding a letter from your parents (properly notarized) stating that they are willing to financially support your trip to Europe.
I currently have 1200 euros in bank account(1350 us dollar) will that
be enough? also my friend is paying money for the air ticket as a
gift(he is travelling with me) do i need to provide a letter from him
There usually isn't a fixed amount that is "enough" - each country is different and depending on what you want to do in the country the amount can change.
Strictly as a guide you should have 50 EUR for each day you are staying as money available to you during your stay.
Regarding your friend paying for your ticket, you don't have to mention this specifically. You can just say that the ticket is pre-paid.