The UAE's hotel market posted a strong performance in the first quarter of 2022 on the back of a successful Expo 2020 Dubai and returning international visitors, property consultancy JLL said.
Among the primary drivers of the momentum were beachfront and luxury developments, thanks to stronger demand for leisure properties, as well as upper-upmarket and midmarket hotels that posted higher average daily rates (ADRs), the Chicago-based consultancy said in its first-quarter report on Wednesday.
"Historically, operators in the UAE have focused their operational strategy on achieving their desired levels of occupancy but this has been at the expense of lower ADRs," said Khawar Khan, head of research for the Middle East, Africa and Turkey at JLL.
“Post-pandemic, operators may look towards adopting a more robust revenue management strategy to help owners achieve a higher bottom line. The resultant short-term impact may be a small dip in performance but it should ultimately lead to improvements in the longer term."
The performance was underpinned by the UAE's speedy recovery from the Covid-19 crisis, as proactive government policies instilled consistent investor confidence in the real estate sector and the overall economy.
The value of property deals in Dubai more than doubled in 2021, breaking a 12-year record in terms of property sales transactions, real estate portal Property Finder said in January. The emirate registered 61,241 sales transactions worth Dh151.07 billion ($41.13bn) last year.
Sales of luxury homes in Dubai also hit their highest level in 2021 since 2015, consultancy Knight Frank said last month.
The Abu Dhabi property market posted transactions worth Dh71.5bn in 2021, with the total number of transactions across sales and mortgage deals reaching 14,958 last year, Abu Dhabi's Department of Municipalities and Transport said in a February report.
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UAE hotels opening in 2022
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Hotels in Dubai and Abu Dhabi made strong starts to 2022. The completion of about 3,500 keys across Dubai’s hotel and hotel apartment projects resulted in total stock reaching 144,000 keys in the first quarter, JLL's study showed.
The emirate's occupancy rate rose more than 77 per cent in January and February, up from 62 per cent a year earlier, while ADR surged almost 53 per cent to $222. As a result, the emirate’s revenue per available room, or RevPAR – an industry benchmark – reached nearly $172, almost double the level a year ago.
In Abu Dhabi, the occupancy rate was at 75 per cent in the first two months of the year against 61 per cent a year earlier. The capital’s ADR jumped 20 per cent annually to $108, resulting in RevPAR of $81, up 47 per cent from the period a year ago.
Construction activity in the residential market, meanwhile, continued to grow as improving sentiment and rising demand from investors and end-users alike gave developers renewed impetus to deliver projects.
"There was a notable shift in investor and end-user behaviour during the pandemic, with greater preference being shown for completed residential units rather than off-plan ones," Mr Khan said.
The trend extended into the first quarter of 2022, with data from the Dubai Land Department showing that existing properties accounted for more than 70 per cent of all transactions.
Dubai’s residential stock rose to 657,000 units, with almost 17,000 delivered. Apartments accounted for the vast majority of total completions over the quarter. In Abu Dhabi 1,000 units were delivered, bringing the capital’s tally to 274,000.
Overall, JLL expects an additional 42,000 residential units to be completed in the remainder of 2022.
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Inside Legoland hotel in Dubai
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In the retail sector, about 186,000 square metres of retail gross leasable area came online in Dubai in the first quarter, bringing the total stock to 4.6 million square metres. There were no new project completions in Abu Dhabi during the period, JLL said.
Mall owners continue to offer incentives such as rent-free periods and low base rents, which remain on a downward trajectory. However, JLL sees signs of stabilisation. Average rents for primary and secondary malls in Dubai declined by 5 per cent year on year while there was no change in Abu Dhabi.
"Overall, the easing restrictions and ongoing recovery in tourism continues to provide some respite for the UAE’s retail sector," Mr Khan said.
In the office space bracket, Dubai recorded the delivery of nearly 6,500 square metres of office space in the first three months of 2022, pushing up total stock to almost to 9.1 million square metres. There were no notable completions in Abu Dhabi, keeping the overall supply level at 3.9 million square metres, as per JLL's estimates.
Rents in well-managed, good quality office buildings continued to recover. Average Grade A rents in Dubai's central business district were up 9 per cent year on year to about Dh1,840 per square metre per annum, while in Abu Dhabi it climbed 5 per cent to an average of Dh1,650 per square metre.
"Flexible workspaces are seeing strong interest from new market entrants, as well as some corporates who are taking a 'wait-and-see' approach before signing long leases elsewhere due to the evolving market situation. As a result, high-quality and well-located flexible office space providers are operating at near-full capacity," Mr Khan said.
Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
The Matrix Resurrections
Director: Lana Wachowski
Stars: Keanu Reeves, Carrie-Anne Moss, Jessica Henwick
Rating:****
Company%20profile
%3Cp%3E%3Cstrong%3EName%3A%20%3C%2Fstrong%3EMaly%20Tech%3Cbr%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%202023%3Cbr%3E%3Cstrong%3EFounder%3A%3C%2Fstrong%3E%20Mo%20Ibrahim%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Dubai%20International%20Financial%20Centre%3Cbr%3E%3Cstrong%3ESector%3A%3C%2Fstrong%3E%20FinTech%3Cbr%3E%3Cstrong%3EFunds%20raised%3A%3C%2Fstrong%3E%20%241.6%20million%3Cbr%3E%3Cstrong%3ECurrent%20number%20of%20staff%3A%3C%2Fstrong%3E%2015%3Cbr%3E%3Cstrong%3EInvestment%20stage%3A%20%3C%2Fstrong%3EPre-seed%2C%20planning%20first%20seed%20round%3Cbr%3E%3Cstrong%3EInvestors%3A%3C%2Fstrong%3E%20GCC-based%20angel%20investors%3C%2Fp%3E%0A
UAE SQUAD
Goalkeepers: Ali Khaseif, Fahad Al Dhanhani, Mohammed Al Shamsi, Adel Al Hosani
Defenders: Bandar Al Ahbabi, Shaheen Abdulrahman, Walid Abbas, Mahmoud Khamis, Mohammed Barghash, Khalifa Al Hammadi, Hassan Al Mahrami, Yousef Jaber, Salem Rashid, Mohammed Al Attas, Alhassan Saleh
Midfielders: Ali Salmeen, Abdullah Ramadan, Abdullah Al Naqbi, Majed Hassan, Yahya Nader, Ahmed Barman, Abdullah Hamad, Khalfan Mubarak, Khalil Al Hammadi, Tahnoun Al Zaabi, Harib Abdallah, Mohammed Jumah, Yahya Al Ghassani
Forwards: Fabio De Lima, Caio Canedo, Ali Saleh, Ali Mabkhout, Sebastian Tagliabue, Zayed Al Ameri
Ferrari 12Cilindri specs
Engine: naturally aspirated 6.5-liter V12
Power: 819hp
Torque: 678Nm at 7,250rpm
Price: From Dh1,700,000
Available: Now
Play-off fixtures
Two-legged ties to be played November 9-11 and November 12-14
- Northern Ireland v Switzerland
- Croatia v Greece
- Denmark v Ireland
- Sweden v Italy
The specs
Engine: 1.5-litre 4-cyl turbo
Power: 194hp at 5,600rpm
Torque: 275Nm from 2,000-4,000rpm
Transmission: 6-speed auto
Price: from Dh155,000
On sale: now
Titan Sports Academy:
Programmes: Judo, wrestling, kick-boxing, muay thai, taekwondo and various summer camps
Location: Inside Abu Dhabi City Golf Club, Al Mushrif, Abu Dhabi, UAE
Telephone: 971 50 220 0326
UAE currency: the story behind the money in your pockets
Company profile
Company name: Suraasa
Started: 2018
Founders: Rishabh Khanna, Ankit Khanna and Sahil Makker
Based: India, UAE and the UK
Industry: EdTech
Initial investment: More than $200,000 in seed funding
The specs
- Engine: 3.9-litre twin-turbo V8
- Power: 640hp
- Torque: 760nm
- On sale: 2026
- Price: Not announced yet
Other ways to buy used products in the UAE
UAE insurance firm Al Wathba National Insurance Company (AWNIC) last year launched an e-commerce website with a facility enabling users to buy car wrecks.
Bidders and potential buyers register on the online salvage car auction portal to view vehicles, review condition reports, or arrange physical surveys, and then start bidding for motors they plan to restore or harvest for parts.
Physical salvage car auctions are a common method for insurers around the world to move on heavily damaged vehicles, but AWNIC is one of the few UAE insurers to offer such services online.
For cars and less sizeable items such as bicycles and furniture, Dubizzle is arguably the best-known marketplace for pre-loved.
Founded in 2005, in recent years it has been joined by a plethora of Facebook community pages for shifting used goods, including Abu Dhabi Marketplace, Flea Market UAE and Arabian Ranches Souq Market while sites such as The Luxury Closet and Riot deal largely in second-hand fashion.
At the high-end of the pre-used spectrum, resellers such as Timepiece360.ae, WatchBox Middle East and Watches Market Dubai deal in authenticated second-hand luxury timepieces from brands such as Rolex, Hublot and Tag Heuer, with a warranty.
if you go
The flights
Emirates flies to Delhi with fares starting from around Dh760 return, while Etihad fares cost about Dh783 return. From Delhi, there are connecting flights to Lucknow.
Where to stay
It is advisable to stay in Lucknow and make a day trip to Kannauj. A stay at the Lebua Lucknow hotel, a traditional Lucknowi mansion, is recommended. Prices start from Dh300 per night (excluding taxes).
ESSENTIALS
The flights
Emirates flies from Dubai to Phnom Penh via Yangon from Dh2,700 return including taxes. Cambodia Bayon Airlines and Cambodia Angkor Air offer return flights from Phnom Penh to Siem Reap from Dh250 return including taxes. The flight takes about 45 minutes.
The hotels
Rooms at the Raffles Le Royal in Phnom Penh cost from $225 (Dh826) per night including taxes. Rooms at the Grand Hotel d'Angkor cost from $261 (Dh960) per night including taxes.
The tours
A cyclo architecture tour of Phnom Penh costs from $20 (Dh75) per person for about three hours, with Khmer Architecture Tours. Tailor-made tours of all of Cambodia, or sites like Angkor alone, can be arranged by About Asia Travel. Emirates Holidays also offers packages.
Killing of Qassem Suleimani
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Know before you go
- Jebel Akhdar is a two-hour drive from Muscat airport or a six-hour drive from Dubai. It’s impossible to visit by car unless you have a 4x4. Phone ahead to the hotel to arrange a transfer.
- If you’re driving, make sure your insurance covers Oman.
- By air: Budget airlines Air Arabia, Flydubai and SalamAir offer direct routes to Muscat from the UAE.
- Tourists from the Emirates (UAE nationals not included) must apply for an Omani visa online before arrival at evisa.rop.gov.om. The process typically takes several days.
- Flash floods are probable due to the terrain and a lack of drainage. Always check the weather before venturing into any canyons or other remote areas and identify a plan of escape that includes high ground, shelter and parking where your car won’t be overtaken by sudden downpours.
Dubai Rugby Sevens
November 30-December 2, at The Sevens, Dubai
Gulf Under 19
Pool A – Abu Dhabi Harlequins, Jumeirah College Tigers, Dubai English Speaking School 1, Gems World Academy
Pool B – British School Al Khubairat, Bahrain Colts, Jumeirah College Lions, Dubai English Speaking School 2
Pool C - Dubai College A, Dubai Sharks, Jumeirah English Speaking School, Al Yasmina
Pool D – Dubai Exiles, Dubai Hurricanes, Al Ain Amblers, Deira International School
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
OPENING FIXTURES
Saturday September 12
Crystal Palace v Southampton
Fulham v Arsenal
Liverpool v Leeds United
Tottenham v Everton
West Brom v Leicester
West Ham v Newcastle
Monday September 14
Brighton v Chelsea
Sheffield United v Wolves
To be rescheduled
Burnley v Manchester United
Manchester City v Aston Villa
Asia Cup 2018 final
Who: India v Bangladesh
When: Friday, 3.30pm, Dubai International Stadium
Watch: Live on OSN Cricket HD
Slow loris biog
From: Lonely Loris is a Sunda slow loris, one of nine species of the animal native to Indonesia, Malaysia, Thailand and Singapore
Status: Critically endangered, and listed as vulnerable on the International Union for Conservation of Nature red list due to growing demand in the global exotic pet trade. It is one of the most popular primate species found at Indonesian pet markets
Likes: Sleeping, which they do for up to 18 hours a day. When they are awake, they like to eat fruit, insects, small birds and reptiles and some types of vegetation
Dislikes: Sunlight. Being a nocturnal animal, the slow loris wakes around sunset and is active throughout the night
Superpowers: His dangerous elbows. The slow loris’s doe eyes may make it look cute, but it is also deadly. The only known venomous primate, it hisses and clasps its paws and can produce a venom from its elbow that can cause anaphylactic shock and even death in humans
Indoor cricket in a nutshell
Indoor cricket in a nutshell
Indoor Cricket World Cup - Sept 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
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
