Property developer Arada is launching five residential projects and is targeting sales of up to Dh2.4 billion ($653 million) this year and Dh3bn in 2022 as it taps into an ongoing rebound in the UAE’s property market.
The company's new launches will include serviced apartments and other residential units at its Dh24bn Aljada master development in Sharjah, its chief executive Ahmed Alkhoshaibi told The National.
Arada is a joint venture between KBW Investments – a company controlled by Saudi Arabia’s Prince Khaled bin Alwaleed – and Basma Group of Sharjah.
The work on four projects will start next year, while one project named Boulevard 3 is already under construction, Mr Alkhoshaibi said, without providing details about the total cost.
It will finance new projects through a mix of debt and equity as well as proceeds from sales.
The UAE’s property market is bouncing back from the impact of the coronavirus pandemic, driven by government initiatives including the expansion of the 10-year golden visa programme and other measures. Experts say that the real estate market could experience a strong rebound in the next 18 months as the policymakers' response to counter the pandemic further encourages investors.
“Confidence overall in the UAE has been growing thanks to the government initiatives,” Mr Alkhoshaibi said. He also said that Sharjah, where the company has all its projects, has experienced steady growth in the real estate sector in the past 15 years.
Total real estate transactions in Sharjah grew 22.7 per cent annually in the third quarter to Dh5.7bn, according to data released by the Sharjah Real Estate Registration Department on Monday. The emirate recorded 16,781 transactions during the period.
“Sharjah itself has been a very resilient market … and it’s always been like a safe haven for investors,” he said.
The UAE's property market "will continue to grow in the next few years”, said Mr Alkhoshaibi, echoing the general market sentiment.
Arada recorded total sales of Dh2bn so far in 2021 and is targeting Dh2.3bn to Dh2.4bn in sales by the end of this year. In 2022, it aims to achieve Dh3bn in sales.
Currently, the company has no plans for an initial public offering but will consider it if “there is a value proposition and there is a need”, he said.
However, Arada may tap bond markets to raise more money to help it expand and start new projects in other emirates.
“We are discussing with our advisers on the right size, especially for our growth strategy and expansion plans,” Mr Alkhoshaibi said.
Arada secured Dh250m from Dubai Islamic Bank to speed up the construction of its Aljada mega-project in the emirate earlier this year.
The company also aims to expand to Dubai and Abu Dhabi in 2022 and is in discussions to buy land in the two emirates to launch projects.
“I will expect to launch two to three new projects outside of our existing three master plans (in Sharjah). My forecast for 2022 is that it will be a busy year for us,” Mr Alkhoshaibi said.
In 2021, the company sold 2,500 units to Emiratis, GCC citizens, Indians and customers from other countries.
Muguruza's singles career in stats
WTA titles 3
Prize money US$11,128,219 (Dh40,873,133.82)
Wins / losses 293 / 149
What can victims do?
Always use only regulated platforms
Stop all transactions and communication on suspicion
Save all evidence (screenshots, chat logs, transaction IDs)
Report to local authorities
Warn others to prevent further harm
Courtesy: Crystal Intelligence
If you go
The flights
There are various ways of getting to the southern Serengeti in Tanzania from the UAE. The exact route and airstrip depends on your overall trip itinerary and which camp you’re staying at.
Flydubai flies direct from Dubai to Kilimanjaro International Airport from Dh1,350 return, including taxes; this can be followed by a short flight from Kilimanjaro to the Serengeti with Coastal Aviation from about US$700 (Dh2,500) return, including taxes. Kenya Airways, Emirates and Etihad offer flights via Nairobi or Dar es Salaam.
Muslim Council of Elders condemns terrorism on religious sites
The Muslim Council of Elders has strongly condemned the criminal attacks on religious sites in Britain.
It firmly rejected “acts of terrorism, which constitute a flagrant violation of the sanctity of houses of worship”.
“Attacking places of worship is a form of terrorism and extremism that threatens peace and stability within societies,” it said.
The council also warned against the rise of hate speech, racism, extremism and Islamophobia. It urged the international community to join efforts to promote tolerance and peaceful coexistence.
Dark Souls: Remastered
Developer: From Software (remaster by QLOC)
Publisher: Namco Bandai
Price: Dh199
The specs
Engine: 3.0-litre six-cylinder turbo
Power: 398hp from 5,250rpm
Torque: 580Nm at 1,900-4,800rpm
Transmission: Eight-speed auto
Fuel economy, combined: 6.5L/100km
On sale: December
Price: From Dh330,000 (estimate)
Essentials
The flights
Emirates and Etihad fly direct from the UAE to Los Angeles, from Dh4,975 return, including taxes. The flight time is 16 hours. Alaska Airlines, United Airlines, Delta Air Lines, Aeromexico and Southwest all fly direct from Los Angeles to San Jose del Cabo from Dh1,243 return, including taxes. The flight time is two-and-a-half hours.
The trip
Lindblad Expeditions National Geographic’s eight-day Whales Wilderness itinerary costs from US$6,190 (Dh22,736) per person, twin share, including meals, accommodation and excursions, with departures in March and April 2018.
List of alleged parties
May 15 2020: PM and Carrie attend 'work meeting' with at
least 17 staff members
May 20 2020: PM and Carrie attend 'bring your own booze'
party
Nov 27 2020: PM gives speech at leaving do for his staff
Dec 10 2020: Staff party held by then-education secretary
Gavin Williamson
Dec 13 2020: PM and Carrie throw a flat party
Dec 14 2020: London mayor candidate Shaun Bailey holds staff party at Conservative
Party headquarters
Dec 15 2020: PM takes part in a staff quiz
Dec 18 2020: Downing Street Christmas party
Sugary teas and iced coffees
The tax authority is yet to release a list of the taxed products, but it appears likely that sugary iced teas and cold coffees will be hit.
For instance, the non-fizzy drink AriZona Iced Tea contains 65 grams of sugar – about 16 teaspoons – per 680ml can. The average can costs about Dh6, which would rise to Dh9.
Cold coffee brands are likely to be hit too. Drinks such as Starbucks Bottled Mocha Frappuccino contain 31g of sugar in 270ml, while Nescafe Mocha in a can contains 15.6g of sugar in a 240ml can.
Easter%20Sunday
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Mobile phone packages comparison
Company%20profile
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Lexus LX700h specs
Engine: 3.4-litre twin-turbo V6 plus supplementary electric motor
Power: 464hp at 5,200rpm
Torque: 790Nm from 2,000-3,600rpm
Transmission: 10-speed auto
Fuel consumption: 11.7L/100km
On sale: Now
Price: From Dh590,000
The specs
A4 35 TFSI
Engine: 2.0-litre, four-cylinder
Transmission: seven-speed S-tronic automatic
Power: 150bhp
Torque: 270Nm
Price: Dh150,000 (estimate)
On sale: First Q 2020
A4 S4 TDI
Engine: 3.0-litre V6 turbo diesel
Transmission: eight-speed PDK automatic
Power: 350bhp
Torque: 700Nm
Price: Dh165,000 (estimate)
On sale: First Q 2020
Gulf Under 19s
Pools
A – Dubai College, Deira International School, Al Ain Amblers, Warriors
B – Dubai English Speaking College, Repton Royals, Jumeirah College, Gems World Academy
C – British School Al Khubairat, Abu Dhabi Harlequins, Dubai Hurricanes, Al Yasmina Academy
D – Dubai Exiles, Jumeirah English Speaking School, English College, Bahrain Colts
Recent winners
2018 – Dubai College
2017 – British School Al Khubairat
2016 – Dubai English Speaking School
2015 – Al Ain Amblers
2014 – Dubai College
Dr Afridi's warning signs of digital addiction
Spending an excessive amount of time on the phone.
Neglecting personal, social, or academic responsibilities.
Losing interest in other activities or hobbies that were once enjoyed.
Having withdrawal symptoms like feeling anxious, restless, or upset when the technology is not available.
Experiencing sleep disturbances or changes in sleep patterns.
What are the guidelines?
Under 18 months: Avoid screen time altogether, except for video chatting with family.
Aged 18-24 months: If screens are introduced, it should be high-quality content watched with a caregiver to help the child understand what they are seeing.
Aged 2-5 years: Limit to one-hour per day of high-quality programming, with co-viewing whenever possible.
Aged 6-12 years: Set consistent limits on screen time to ensure it does not interfere with sleep, physical activity, or social interactions.
Teenagers: Encourage a balanced approach – screens should not replace sleep, exercise, or face-to-face socialisation.
Source: American Paediatric Association
TEACHERS' PAY - WHAT YOU NEED TO KNOW
Pay varies significantly depending on the school, its rating and the curriculum. Here's a rough guide as of January 2021:
- top end schools tend to pay Dh16,000-17,000 a month - plus a monthly housing allowance of up to Dh6,000. These tend to be British curriculum schools rated 'outstanding' or 'very good', followed by American schools
- average salary across curriculums and skill levels is about Dh10,000, recruiters say
- it is becoming more common for schools to provide accommodation, sometimes in an apartment block with other teachers, rather than hand teachers a cash housing allowance
- some strong performing schools have cut back on salaries since the pandemic began, sometimes offering Dh16,000 including the housing allowance, which reflects the slump in rental costs, and sheer demand for jobs
- maths and science teachers are most in demand and some schools will pay up to Dh3,000 more than other teachers in recognition of their technical skills
- at the other end of the market, teachers in some Indian schools, where fees are lower and competition among applicants is intense, can be paid as low as Dh3,000 per month
- in Indian schools, it has also become common for teachers to share residential accommodation, living in a block with colleagues
RESULT
Chelsea 2
Willian 13'
Ross Barkley 64'
Liverpool 0
