analysts predict, but it is not without its potholes. Housing supply, emerging-market currencies and oil are all things to keep an eye on
ABU DHABI PROPERTY
William Neill, the head of Cluttons in Abu Dhabi:
We are predicting a gradual increase in prices in the Abu Dhabi property market this year, but nothing on the scale of the increases that happened last year. There is still some great investor appetite in Abu Dhabi, so we believe new residential schemes will still fly. There will be more off-plan housing launches this year, from the usual suspects – Aldar and TDIC – as well as some private developers.
For residential rents there is a danger that they could continue to go up, and with no rental cap in place now in Abu Dhabi, if there is a lack of supply then the market could face some of the same issues it faced back in 2007 when rents were so expensive that many people were forced to commute here each day from Dubai.
The commercial market is waiting with anticipation to find out what the new rules will be regarding the proposed financial free zone on Al Maryah island. And with Yas Mall now open, we are predicting growth for retail rents in the city. However, with more shopping centres being built on Al Maryah Island and Saadiyat Island, there is a danger over the next three years for oversupply.
DUBAI PROPERTY
Matthew Green, the head of research and consultancy for the UAE at CBRE Middle East region:
The residential market has shown signs of stabilisation over the past six months, across both sales and leasing markets. We expect this to be a similar outlook for this year, with the scheduled pipeline of 20,000 new units during the year likely to help constrain rental inflation and add more balance to the sector. As has been the trend, a fragmented market will continue, with certain products and locations performing somewhat independently from the wider market. For example, the villa market, which has been relatively stable in recent quarters, could be set for rental deflation in certain areas as a substantial supply of new units starts to emerge from locations such as Jumeirah Park, Arabian Ranches, Dubailand and Jumeirah Golf Estates. The demand for mid- to low-end residential offerings is expected to remain strong in the short term because of limited supply and high demand. Much of this demand is being generated by solid growth in the services sector, particularly from the retail and hospitality industries.
After a much improved 2014, Dubai’s commercial office sector looks set for some further gains this year. With a solid economic outlook, Dubai’s position as the headquarter city of choice for global corporates in the Middle East looks set to continue. However, with limited good-quality and efficient office properties available in the market, it is likely that this segment of the market could have a growing demand and supply imbalance in the coming quarters. While a number of major office developments such as DTCD Phase 1 are under construction, the supply is likely to remain constrained in the short term.
UAE EQUITIES
Nabil Al Rantisi, the managing director of brokerage at Mena Corp in Abu Dhabi:
I would to say what I’d like to see rather than what I’d expect to see. I would like to see a less-volatile year, irrelevant to where the prices are, that gives investors the opportunity to reorganise their status, to have more clarity and to make better decisions. This would enable institutional money, good money, to come back to the market instead of a roller coaster business.
The current volatility does not help. The markets in the long term still appear to be bullish, but in the short to medium term you have to see some build up, a base, before we see price moves.
GCC EQUITIES
Adel Merheb, the director of equity capital markets at Shuaa Capital:
The first half of this year may very well be an extension of the second half of last year – that is, a period of volatility and market swings for GCC stocks. The recent crash in oil prices and the collapse of some of the emerging-market currencies have caused some of the biggest equity sell-offs we have seen in the region since the 2008 crisis, but barring a situation where the current turmoil in the currency and oil markets actually leads to geopolitical instability, GCC equities may very well stabilise and a new uptrend take shape towards the latter part of the year.
EMERGING MARKETS EQUITIES
Mark Mobius, the executive chairman at Templeton Emerging Markets:
High economic growth rates will remain a key attraction of many emerging markets, in our opinion. Even with major economies such as Brazil and Russia slowing down, overall growth in emerging markets this year is expected to be comfortably in excess of that achieved by developed markets, with China and India likely to drive the Asian region to particularly strong growth.
Moreover, many emerging markets, among them China, India, Indonesia, Mexico and South Korea, have announced or embarked upon significant reform measures that differ in details but are generally aimed at sweeping away bureaucratic barriers to economic growth, encouraging entrepreneurship and exposing inefficient industries to market discipline.
GLOBAL EQUITIES
Hisham Khairy, the head of institutional trading at Menacorp:
US markets no doubt over the past five years have enjoyed one of the longest and most generous bull markets in history. No bull market lasts forever and we could start to see that change next year. Oil weakness and dollar hurting exports could be the spark.
COLLECTIBLES
Vincent Zurzolo, the chief operating officer at Metropolis Collectibles in New York:
The comic market has been very strong the last 6 years and that trend will most likely continue. Last year showed very similar growth to 2013, one of the best years the vintage comic market had ever seen. Many economies are doing well, in part because of oil prices going down.
The extra discretionary income is finding its way into tangible assets like comic books as bank interest rates are still nominal at best. Hot titles this year will continue to be the tried-and true-blue chip titles such as Spider-Man, X-Men, Superman, Batman and Wonder Woman.
First appearances of comic books characters in movies and TV shows will be the place where we will see great increases in prices. Look for any and all characters associated with DC’s Suicide Squad comic to jump in value since the movie with Will Smith has been announced. Watch as there will be an increase in demand for Daredevil, Power Man and Iron Fist and Alias, all with Netflix series starting soon. Flash and Green Arrow first and early appearances have had a big jump in value since their TV shows have been such a big hit. The first appearance of Aquaman is also on the rise, as he will be hitting the silver screen soon in Justice League.
CURRENCIES
Angus Campbell, a senior analyst at FxPro in London:
The recent turmoil in financial markets is a firm indication that things this year are unlikely to be easy or straightforward for investors. However, the stimulus from lower oil prices should prop the global economy up, which means the dollar strength that came in the second half of last year could continue into the early part of this year and beyond. But for equity markets, the FTSE 100’s inability to take out its all-time high at 6930 (6950 intra-day) ought to be seen as a warning. The FTSE 100 is a very good measure of not just domestic, but also global investor sentiment and it has struggled to break to new all-time highs on two occasions since it was set in 1999, which is something all investors should be wary of.
* Lucy Barnard, Andrew Scott, Hadeel Al Sayegh, Sananda Sahoo, Mahmoud Kassem, Mustafa Alrawi, John Everington and Adam Bouyamourn
Indoor cricket in a nutshell
Indoor Cricket World Cup - Sep 16-20, Insportz, Dubai
16 Indoor cricket matches are 16 overs per side
8 There are eight players per team
9 There have been nine Indoor Cricket World Cups for men. Australia have won every one.
5 Five runs are deducted from the score when a wickets falls
4 Batsmen bat in pairs, facing four overs per partnership
Scoring In indoor cricket, runs are scored by way of both physical and bonus runs. Physical runs are scored by both batsmen completing a run from one crease to the other. Bonus runs are scored when the ball hits a net in different zones, but only when at least one physical run is score.
Zones
A Front net, behind the striker and wicketkeeper: 0 runs
B Side nets, between the striker and halfway down the pitch: 1 run
C Side nets between halfway and the bowlers end: 2 runs
D Back net: 4 runs on the bounce, 6 runs on the full
Electoral College Victory
Trump has so far secured 295 Electoral College votes, according to the Associated Press, exceeding the 270 needed to win. Only Nevada and Arizona remain to be called, and both swing states are leaning Republican. Trump swept all five remaining swing states, North Carolina, Georgia, Pennsylvania, Michigan and Wisconsin, sealing his path to victory and giving him a strong mandate.
Popular Vote Tally
The count is ongoing, but Trump currently leads with nearly 51 per cent of the popular vote to Harris’s 47.6 per cent. Trump has over 72.2 million votes, while Harris trails with approximately 67.4 million.
COMPANY PROFILE
Name: Kumulus Water
Started: 2021
Founders: Iheb Triki and Mohamed Ali Abid
Based: Tunisia
Sector: Water technology
Number of staff: 22
Investment raised: $4 million
Election pledges on migration
CDU: "Now is the time to control the German borders and enforce strict border rejections"
SPD: "Border closures and blanket rejections at internal borders contradict the spirit of a common area of freedom"
If you go…
Emirates launched a new daily service to Mexico City this week, flying via Barcelona from Dh3,995.
Emirati citizens are among 67 nationalities who do not require a visa to Mexico. Entry is granted on arrival for stays of up to 180 days.
In numbers: PKK’s money network in Europe
Germany: PKK collectors typically bring in $18 million in cash a year – amount has trebled since 2010
Revolutionary tax: Investigators say about $2 million a year raised from ‘tax collection’ around Marseille
Extortion: Gunman convicted in 2023 of demanding $10,000 from Kurdish businessman in Stockholm
Drug trade: PKK income claimed by Turkish anti-drugs force in 2024 to be as high as $500 million a year
Denmark: PKK one of two terrorist groups along with Iranian separatists ASMLA to raise “two-digit million amounts”
Contributions: Hundreds of euros expected from typical Kurdish families and thousands from business owners
TV channel: Kurdish Roj TV accounts frozen and went bankrupt after Denmark fined it more than $1 million over PKK links in 2013
The National's picks
4.35pm: Tilal Al Khalediah
5.10pm: Continous
5.45pm: Raging Torrent
6.20pm: West Acre
7pm: Flood Zone
7.40pm: Straight No Chaser
8.15pm: Romantic Warrior
8.50pm: Calandogan
9.30pm: Forever Young
A MINECRAFT MOVIE
Director: Jared Hess
Starring: Jack Black, Jennifer Coolidge, Jason Momoa
Rating: 3/5
Williams at Wimbledon
Venus Williams - 5 titles (2000, 2001, 2005, 2007 and 2008)
Serena Williams - 7 titles (2002, 2003, 2009, 2010, 2012, 2015 and 2016)
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
Sarfira
Director: Sudha Kongara Prasad
Starring: Akshay Kumar, Radhika Madan, Paresh Rawal
Rating: 2/5
WHAT IS A BLACK HOLE?
1. Black holes are objects whose gravity is so strong not even light can escape their pull
2. They can be created when massive stars collapse under their own weight
3. Large black holes can also be formed when smaller ones collide and merge
4. The biggest black holes lurk at the centre of many galaxies, including our own
5. Astronomers believe that when the universe was very young, black holes affected how galaxies formed
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Titanium Escrow profile
Started: December 2016
Founder: Ibrahim Kamalmaz
Based: UAE
Sector: Finance / legal
Size: 3 employees, pre-revenue
Stage: Early stage
Investors: Founder's friends and Family
Sukuk explained
Sukuk are Sharia-compliant financial certificates issued by governments, corporates and other entities. While as an asset class they resemble conventional bonds, there are some significant differences. As interest is prohibited under Sharia, sukuk must contain an underlying transaction, for example a leaseback agreement, and the income that is paid to investors is generated by the underlying asset. Investors must also be prepared to share in both the profits and losses of an enterprise. Nevertheless, sukuk are similar to conventional bonds in that they provide regular payments, and are considered less risky than equities. Most investors would not buy sukuk directly due to high minimum subscriptions, but invest via funds.
UAE currency: the story behind the money in your pockets
UPI facts
More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions
Key products and UAE prices
iPhone XS
With a 5.8-inch screen, it will be an advance version of the iPhone X. It will be dual sim and comes with better battery life, a faster processor and better camera. A new gold colour will be available.
Price: Dh4,229
iPhone XS Max
It is expected to be a grander version of the iPhone X with a 6.5-inch screen; an inch bigger than the screen of the iPhone 8 Plus.
Price: Dh4,649
iPhone XR
A low-cost version of the iPhone X with a 6.1-inch screen, it is expected to attract mass attention. According to industry experts, it is likely to have aluminium edges instead of stainless steel.
Price: Dh3,179
Apple Watch Series 4
More comprehensive health device with edge-to-edge displays that are more than 30 per cent bigger than displays on current models.
Our legal columnist
Name: Yousef Al Bahar
Advocate at Al Bahar & Associate Advocates and Legal Consultants, established in 1994
Education: Mr Al Bahar was born in 1979 and graduated in 2008 from the Judicial Institute. He took after his father, who was one of the first Emirati lawyers
Dates for the diary
To mark Bodytree’s 10th anniversary, the coming season will be filled with celebratory activities:
- September 21 Anyone interested in becoming a certified yoga instructor can sign up for a 250-hour course in Yoga Teacher Training with Jacquelene Sadek. It begins on September 21 and will take place over the course of six weekends.
- October 18 to 21 International yoga instructor, Yogi Nora, will be visiting Bodytree and offering classes.
- October 26 to November 4 International pilates instructor Courtney Miller will be on hand at the studio, offering classes.
- November 9 Bodytree is hosting a party to celebrate turning 10, and everyone is invited. Expect a day full of free classes on the grounds of the studio.
- December 11 Yogeswari, an advanced certified Jivamukti teacher, will be visiting the studio.
- February 2, 2018 Bodytree will host its 4th annual yoga market.
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Killing of Qassem Suleimani
NO OTHER LAND
Director: Basel Adra, Yuval Abraham, Rachel Szor, Hamdan Ballal
Stars: Basel Adra, Yuval Abraham
Rating: 3.5/5
Killing of Qassem Suleimani
The Specs:
The Specs:
Engine: 2.9-litre, V6 twin-turbo
Transmission: 8-speed automatic
Power: 444bhp
Torque: 600Nm
Price: AED 356,580 incl VAT
On sale: now.
Specs
Engine: Dual-motor all-wheel-drive electric
Range: Up to 610km
Power: 905hp
Torque: 985Nm
Price: From Dh439,000
Available: Now
Skewed figures
In the village of Mevagissey in southwest England the housing stock has doubled in the last century while the number of residents is half the historic high. The village's Neighbourhood Development Plan states that 26% of homes are holiday retreats. Prices are high, averaging around £300,000, £50,000 more than the Cornish average of £250,000. The local average wage is £15,458.
Ms Yang's top tips for parents new to the UAE
- Join parent networks
- Look beyond school fees
- Keep an open mind
Nayanthara: Beyond The Fairy Tale
Starring: Nayanthara, Vignesh Shivan, Radhika Sarathkumar, Nagarjuna Akkineni
Director: Amith Krishnan
Rating: 3.5/5
