This custom-built mansion in Dubai Hills Estate is on the market for Dh115 million.
This custom-built mansion in Dubai Hills Estate is on the market for Dh115 million.
Enter via a striking double-height central hub.
Enter via a striking double-height central hub.
The property's expansive basement, complete with a bar and TV area.
The property's expansive basement, complete with a bar and TV area.
One of seven spacious bedrooms.
One of seven spacious bedrooms.
A wine cellar, to be filled at will by the owner.
A wine cellar, to be filled at will by the owner.
A spacious private swimming pool.
A spacious private swimming pool.
A snug and inviting formal living room.
A snug and inviting formal living room.
The property comes fully furnished, with high-end pieces.
The property comes fully furnished, with high-end pieces.
There are a number of areas to relax around the property.
There are a number of areas to relax around the property.
Generously sized walk-in wardrobes.
Generously sized walk-in wardrobes.
The design is inspired by the five elements: wood, fire, earth, metal and water.
The design is inspired by the five elements: wood, fire, earth, metal and water.
Bright and airy design throughout the upper floors.
Bright and airy design throughout the upper floors.
A spacious ensuite bathroom.
A spacious ensuite bathroom.
Looking down on the central hub from the first floor.
Looking down on the central hub from the first floor.
Italian marble and porcelain has been used in the bathrooms.
Italian marble and porcelain has been used in the bathrooms.
Space to entertain in the basement.
Space to entertain in the basement.
Wood is a key design material throughout the property.
Wood is a key design material throughout the property.
A formal dining area.
A formal dining area.
A plush living area.
A plush living area.
A sleek home office.
A sleek home office.
A view of the back of the property at night.
A view of the back of the property at night.
The grand staircase connected to the central hub of the home.
The grand staircase connected to the central hub of the home.
A design feature flowing down the stairs.
A design feature flowing down the stairs.
A more relaxed dining area.
A more relaxed dining area.
The back of the property by day.
The back of the property by day.
A quiet corner to relax in.
A quiet corner to relax in.
A view of the top landing.
A view of the top landing.
Space to watch TV.
Space to watch TV.

Business

Property

Dubai prime property prices soar by almost 60% in past 12 months

Rate of growth starting to slow in certain segments of the market, Knight Frank report finds

Ian Oxborrow
Ian Oxborrow

May 11, 2022

  • English
  • Arabic

A boom in Dubai's prime residential market has led to prices rising almost 60 per cent in the past 12 months, driven by growing interest from international investors, according to consultancy Knight Frank.

Prime areas include Palm Jumeirah, Emirates Hills and Jumeirah Bay Island, among others.

Palm Jumeirah registered villa price growth of close to 11 per cent during the first quarter and more than 38 per cent over the last 12 months. Villa prices in Emirates Hills rose 6.5 per cent in the first three months of the year and by almost 20 per cent in the last year, according to the report.

“Palm Jumeirah and Emirates Hills continue to cement their iconic status, with global buyers continuing to jostle for an address in Dubai’s most exclusive enclaves,” said Faisal Durrani, partner — head of Middle East research, at Knight Frank.

“In addition, there were a record-breaking 93 ultra-prime home sales in 2021 — these are homes priced at over $10 million. During Q1, we’ve recorded another 32 ultra-prime deals, exceeding the second best annual total set in 2015.”

Dubai's property market has made a strong recovery from the pandemic-driven slowdown as the UAE's economy improves, helped by fiscal and monetary measures.

The market registered 25,972 property transactions in the first quarter of this year, the highest number of quarterly deals since 2010, according to Mo’asher, the emirate’s official sales price index issued by the Dubai Land Department in partnership with Property Finder.

A number of new records have also been registered in the market in recent months.

These have included an apartment at the Bulgari Resort and Residences selling for the highest price per square foot in the city. Also, a 10-bedroom, custom-built villa with 70 metres of private beachfront on Palm Jumeirah sold for a record Dh280m ($76m), beating the previous record of Dh185m set in 2015.

_________________________

Dubai's record property sale — in pictures

This Dh280 million property has a prime location on Dubai's Palm Jumeirah. All photos courtesy Belleview Real Estate
This Dh280 million property has a prime location on Dubai's Palm Jumeirah. All photos courtesy Belleview Real Estate
The custom-built villa has 10 bedrooms.
The custom-built villa has 10 bedrooms.
The 33,000sq ft villa features state-of-the-art technology.
The 33,000sq ft villa features state-of-the-art technology.
The villa has imported and handpicked book-matched Italian marble, and is furnished by uber-lux Italian furniture houses Giorgetti and Minotti.
The villa has imported and handpicked book-matched Italian marble, and is furnished by uber-lux Italian furniture houses Giorgetti and Minotti.
Dubai’s property sector has been experiencing a boom, partly driven by Expo 2020 Dubai, which finished last month.
Dubai’s property sector has been experiencing a boom, partly driven by Expo 2020 Dubai, which finished last month.
The indoor pool is perfect for when it's too hot outside.
The indoor pool is perfect for when it's too hot outside.
The spa facilities include a hair salon and gym.
The spa facilities include a hair salon and gym.
The previous record sale for a Palm Jumeirah villa was Dh185m, set in 2015.
The previous record sale for a Palm Jumeirah villa was Dh185m, set in 2015.
An aerial view of the outdoor pool.
An aerial view of the outdoor pool.
The property comes with more than 70 metres of private beachfront.
The property comes with more than 70 metres of private beachfront.

Overall, house prices in Dubai grew 10.6 per cent last year and by a further 2.6 per cent during the first three months of 2022, Knight Frank said.

The latest increase leaves values more than 11 per cent higher than in the same period of 2021, marking the highest rate of annual growth since January 2015.

“The positive market sentiment, driven by the government’s … response to the pandemic, coupled with the successful hosting of the World Expo, the reopening of travel corridors and Dubai’s global safe-haven status, continues to underpin the market’s rebound,” said Mr Durrani.

“Despite the sharp turnaround in prices, values are still, on average, about 25 per cent below their 2014 peak, but villas are now just 12.9 per cent below the last market high in 2014.”

However, there has been a slowdown in the rate of growth in certain segments in the market, Knight Frank said.

Average villa prices rose 3.2 per cent during the first quarter, down from 3.4 per cent growth in the final three months of 2021, marking the slowest quarterly increase in more than two years.

“This slowing price growth is not uniform across the board, with the city’s most expensive locations still locked in Dubai’s version of the ‘Roaring Twenties’,” said Mr Durrani.

“This outperformance is being fuelled in large part by the influx of overseas UHNWI [ultra high net worth individual] capital that continues to target Dubai’s most luxurious homes.”

Read more

Marina 101: Dubai's second-tallest building 'close to completion'

Dubai property boom: Tenants' rights and Rera's rent calculator explained

Knight Frank forecasts another 100,000 units will enter the market by the end of 2025, with more than 50,000 homes due to be completed during the remainder of 2022. Of the homes expected by 2025, only 25 per cent are forecast to be villas.

“Through to the end of 2025, just eight new villas are expected to be built in Dubai’s prime residential areas, hinting strongly at continued outperformance of villas at the very top of the market as there is nothing to suggest an easing of the luxury home drought any time soon,” said Mr Durrani.

________________________

Dubai property prices: where they are rising and falling — March 2022

VILLA PRICES: Palm Jumeirah: Dh2,910 per square foot — up 4.8 per cent a month in March.
VILLA PRICES: Palm Jumeirah: Dh2,910 per square foot — up 4.8 per cent a month in March.
Emirates Hills: Dh2,023 per square foot — up 2.9 per cent a month. Photo: Knight Frank
Emirates Hills: Dh2,023 per square foot — up 2.9 per cent a month. Photo: Knight Frank
Jumeirah: Dh1,935 per square foot — up 4.8 per cent a month. Sarah Dea / The National
Jumeirah: Dh1,935 per square foot — up 4.8 per cent a month. Sarah Dea / The National
District One: Dh1,841 per square foot — up 3.8 per cent a month. Satish Kumar / The National
District One: Dh1,841 per square foot — up 3.8 per cent a month. Satish Kumar / The National
Mohammed bin Rashid City: Dh1,502 per square foot — up 0.2 per cent a month.
Mohammed bin Rashid City: Dh1,502 per square foot — up 0.2 per cent a month.
Dubai Hills: Dh1,426 per square foot — up 0.8 per cent a month. Photo: Emaar Malls Management
Dubai Hills: Dh1,426 per square foot — up 0.8 per cent a month. Photo: Emaar Malls Management
The Meadows: Dh1,447 per square foot — up 2.7 per cent a month. Jeffrey E Biteng / The National
The Meadows: Dh1,447 per square foot — up 2.7 per cent a month. Jeffrey E Biteng / The National
The Lakes: Dh1,408 per square foot — up 2.6 per cent a month. Pawan Singh / The National
The Lakes: Dh1,408 per square foot — up 2.6 per cent a month. Pawan Singh / The National
Jumeirah Islands: Dh1,418 per square foot — up 3.8 per cent a month. Photo: Prestige Dubai
Jumeirah Islands: Dh1,418 per square foot — up 3.8 per cent a month. Photo: Prestige Dubai
Jumeirah Golf Estates: Dh1,298 per square foot — up 2.9 per cent a month. Pawan Singh / The National
Jumeirah Golf Estates: Dh1,298 per square foot — up 2.9 per cent a month. Pawan Singh / The National
The Springs and The Meadows: Dh1,123 per square foot — down 1.8 per cent a month. Photo: Better Homes
The Springs and The Meadows: Dh1,123 per square foot — down 1.8 per cent a month. Photo: Better Homes
Arabian Ranches: Dh1,153 per square foot — up 1.1 per cent a month. Pawan Singh / The National
Arabian Ranches: Dh1,153 per square foot — up 1.1 per cent a month. Pawan Singh / The National
Meydan City: Dh1,147 per square foot — up 1.2 per cent a month.
Meydan City: Dh1,147 per square foot — up 1.2 per cent a month.
Al Barari: Dh1,092 per square foot — down 2.6 per cent a month. Photo: Luxhabitat
Al Barari: Dh1,092 per square foot — down 2.6 per cent a month. Photo: Luxhabitat
Jumeirah Park: Dh1,090 per square foot — down 2 per cent a month. Pawan Singh / The National
Jumeirah Park: Dh1,090 per square foot — down 2 per cent a month. Pawan Singh / The National
Victory Heights: Dh1,089 per square foot — down 2.0 per cent a month. Photo: Luxhabitat
Victory Heights: Dh1,089 per square foot — down 2.0 per cent a month. Photo: Luxhabitat
Mudon: Dh982 per square foot — up 1.9 per cent a month. Satish Kumar / The National
Mudon: Dh982 per square foot — up 1.9 per cent a month. Satish Kumar / The National
Jumeirah Village Triangle: Dh937 per square foot — down 2.5 per cent a month. Pawan Singh / The National
Jumeirah Village Triangle: Dh937 per square foot — down 2.5 per cent a month. Pawan Singh / The National
Sustainable City: Dh943 per square foot — down 0.4 per cent a month. Antonie Robertson / The National
Sustainable City: Dh943 per square foot — down 0.4 per cent a month. Antonie Robertson / The National
Town Square: Dh802 per square foot — up 1.4 per cent a month. Satish Kumar / The National
Town Square: Dh802 per square foot — up 1.4 per cent a month. Satish Kumar / The National
Living Legends: Dh787 per square foot — up 2.3 per cent a month. Pawan Singh / The National
Living Legends: Dh787 per square foot — up 2.3 per cent a month. Pawan Singh / The National
Jumeirah Village Circle: Dh605 per square foot — no change. Antonie Robertson / The National
Jumeirah Village Circle: Dh605 per square foot — no change. Antonie Robertson / The National
Falconcity of Wonders: Dh731 per square foot — up 0.2 per cent a month. Sarah Dea / The National
Falconcity of Wonders: Dh731 per square foot — up 0.2 per cent a month. Sarah Dea / The National
Akoya Oxygen: Dh585 per square foot — down 0.2 per cent a month. Photo: Allsopp & Allsopp
Akoya Oxygen: Dh585 per square foot — down 0.2 per cent a month. Photo: Allsopp & Allsopp
The National in Davos

We are bringing you the inside story from the World Economic Forum's Annual Meeting in Davos, a gathering of hundreds of world leaders, top executives and billionaires.

While you're here
More on this story
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
On Women's Day
Killing of Qassem Suleimani
While you're here
While you're here
World Cup warm up matches

May 24 Pakistan v Afghanistan, Bristol; Sri Lanka v South Africa, Cardiff

May 25 England v Australia, Southampton; India v New Zealand, The Oval

May 26 South Africa v West Indies, Bristol; Pakistan v Bangladesh, Cardiff

May 27 Australia v Sri Lanka, Southampton; England v Afghanistan, The Oval

May 28 West Indies v New Zealand, Bristol; Bangladesh v India, Cardiff

While you're here
While you're here
The specs

Engine: Dual 180kW and 300kW front and rear motors

Power: 480kW

Torque: 850Nm

Transmission: Single-speed automatic

Price: From Dh359,900 ($98,000)

On sale: Now

TUESDAY'S ORDER OF PLAY

Centre Court

Starting at 2pm:

Elina Svitolina (UKR) [3] v Jennifer Brady (USA)

Anastasia Pavlyuchenkova (RUS) v Belinda Bencic (SUI [4]

Not before 7pm:

Sofia Kenin (USA) [5] v Elena Rybakina (KAZ)

Maria Sakkari (GRE) v Aryna Sabalenka (BLR) [7]

 

Court One

Starting at midday:

Karolina Muchova (CZE) v Katerina Siniakova (CZE)

Kristina Mladenovic (FRA) v Aliaksandra Sasnovich (BLR)

Veronika Kudermetova (RUS) v Dayana Yastermska (UKR)

Petra Martic (CRO) [8] v Su-Wei Hsieh (TPE)

Sorana Cirstea (ROU) v Anett Kontaveit (EST)

Stage results

1. Julian Alaphilippe (FRA) Deceuninck-QuickStep  4:39:05

2. Michael Matthews (AUS) Team BikeExchange 0:00:08

3. Primoz Roglic (SLV) Jumbo-Visma same time 

4. Jack Haig (AUS) Bahrain Victorious s.t  

5. Wilco Kelderman (NED) Bora-Hansgrohe s.t  

6. Tadej Pogacar (SLV) UAE Team Emirates s.t 

7. David Gaudu (FRA) Groupama-FDJ s.t

8. Sergio Higuita Garcia (COL) EF Education-Nippo s.t     

9. Bauke Mollema (NED) Trek-Segafredo  s.t

10. Geraint Thomas (GBR) Ineos Grenadiers s.t

Countdown to Zero exhibition will show how disease can be beaten

Countdown to Zero: Defeating Disease, an international multimedia exhibition created by the American Museum of National History in collaboration with The Carter Center, will open in Abu Dhabi a  month before Reaching the Last Mile.

Opening on October 15 and running until November 15, the free exhibition opens at The Galleria mall on Al Maryah Island, and has already been seen at the Jimmy Carter Presidential Library and Museum in Atlanta, the American Museum of Natural History in New York, and the London School of Hygiene and Tropical Medicine.

 

The Sand Castle

Director: Matty Brown

Stars: Nadine Labaki, Ziad Bakri, Zain Al Rafeea, Riman Al Rafeea

Rating: 2.5/5

Batti Gul Meter Chalu

Producers: KRTI Productions, T-Series
Director: Sree Narayan Singh
Cast: Shahid Kapoor, Shraddha Kapoor, Divyenndu Sharma, Yami Gautam
Rating: 2/5

Company%C2%A0profile
%3Cp%3E%3Cstrong%3ECompany%20name%3A%20%3C%2Fstrong%3ELeap%0D%3Cbr%3E%3Cstrong%3EStarted%3A%20%3C%2Fstrong%3EMarch%202021%0D%3Cbr%3E%3Cstrong%3EFounders%3A%3C%2Fstrong%3E%20Ziad%20Toqan%20and%20Jamil%20Khammu%0D%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Dubai%0D%3Cbr%3E%3Cstrong%3ESector%3A%20%3C%2Fstrong%3EFinTech%0D%3Cbr%3E%3Cstrong%3EInvestment%20stage%3A%20%3C%2Fstrong%3EPre-seed%0D%3Cbr%3E%3Cstrong%3EFunds%20raised%3A%3C%2Fstrong%3E%20Undisclosed%0D%3Cbr%3E%3Cstrong%3ECurrent%20number%20of%20staff%3A%20%3C%2Fstrong%3ESeven%3C%2Fp%3E%0A
UAE currency
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. 

Squid Game season two

Director: Hwang Dong-hyuk 

Stars:  Lee Jung-jae, Wi Ha-joon and Lee Byung-hun

Rating: 4.5/5

Profile box

Company name: baraka
Started: July 2020
Founders: Feras Jalbout and Kunal Taneja
Based: Dubai and Bahrain
Sector: FinTech
Initial investment: $150,000
Current staff: 12
Stage: Pre-seed capital raising of $1 million
Investors: Class 5 Global, FJ Labs, IMO Ventures, The Community Fund, VentureSouq, Fox Ventures, Dr Abdulla Elyas (private investment)

Ahmed Raza

UAE cricket captain

Age: 31

Born: Sharjah

Role: Left-arm spinner

One-day internationals: 31 matches, 35 wickets, average 31.4, economy rate 3.95

T20 internationals: 41 matches, 29 wickets, average 30.3, economy rate 6.28

What is the FNC?

The Federal National Council is one of five federal authorities established by the UAE constitution. It held its first session on December 2, 1972, a year to the day after Federation.
It has 40 members, eight of whom are women. The members represent the UAE population through each of the emirates. Abu Dhabi and Dubai have eight members each, Sharjah and Ras al Khaimah six, and Ajman, Fujairah and Umm Al Quwain have four.
They bring Emirati issues to the council for debate and put those concerns to ministers summoned for questioning. 
The FNC’s main functions include passing, amending or rejecting federal draft laws, discussing international treaties and agreements, and offering recommendations on general subjects raised during sessions.
Federal draft laws must first pass through the FNC for recommendations when members can amend the laws to suit the needs of citizens. The draft laws are then forwarded to the Cabinet for consideration and approval. 
Since 2006, half of the members have been elected by UAE citizens to serve four-year terms and the other half are appointed by the Ruler’s Courts of the seven emirates.
In the 2015 elections, 78 of the 252 candidates were women. Women also represented 48 per cent of all voters and 67 per cent of the voters were under the age of 40.
 

The Gentlemen

Director: Guy Ritchie

Stars: Colin Farrell, Hugh Grant 

Three out of five stars

Thank You for Banking with Us

Director: Laila Abbas

Starring: Yasmine Al Massri, Clara Khoury, Kamel El Basha, Ashraf Barhoum

Rating: 4/5

What's in the deal?

Agreement aims to boost trade by £25.5bn a year in the long run, compared with a total of £42.6bn in 2024

India will slash levies on medical devices, machinery, cosmetics, soft drinks and lamb.

India will also cut automotive tariffs to 10% under a quota from over 100% currently.

Indian employees in the UK will receive three years exemption from social security payments

India expects 99% of exports to benefit from zero duty, raising opportunities for textiles, marine products, footwear and jewellery

While you're here
Kareem Shaheen on Canada
if you go

Getting there

Etihad (Etihad.com), Emirates (emirates.com) and Air France (www.airfrance.com) fly to Paris’ Charles de Gaulle Airport, from Abu Dhabi and Dubai respectively. Return flights cost from around Dh3,785. It takes about 40 minutes to get from Paris to Compiègne by train, with return tickets costing €19. The Glade of the Armistice is 6.6km east of the railway station.

Staying there

On a handsome, tree-lined street near the Chateau’s park, La Parenthèse du Rond Royal (laparenthesedurondroyal.com) offers spacious b&b accommodation with thoughtful design touches. Lots of natural woods, old fashioned travelling trunks as decoration and multi-nozzle showers are part of the look, while there are free bikes for those who want to cycle to the glade. Prices start at €120 a night.

More information: musee-armistice-14-18.fr ; compiegne-tourisme.fr; uk.france.fr

Company%20Profile
%3Cp%3E%3Cstrong%3EName%3A%3C%2Fstrong%3E%20Neo%20Mobility%3Cbr%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%20February%202023%3Cbr%3E%3Cstrong%3ECo-founders%3A%3C%2Fstrong%3E%20Abhishek%20Shah%20and%20Anish%20Garg%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Dubai%3Cbr%3E%3Cstrong%3EIndustry%3A%3C%2Fstrong%3E%20Logistics%3Cbr%3E%3Cstrong%3EFunding%3A%3C%2Fstrong%3E%20%2410%20million%3Cbr%3E%3Cstrong%3EInvestors%3A%3C%2Fstrong%3E%20Delta%20Corp%2C%20Pyse%20Sustainability%20Fund%2C%20angel%20investors%3C%2Fp%3E%0A
Tearful appearance

Chancellor Rachel Reeves set markets on edge as she appeared visibly distraught in parliament on Wednesday. 

Legislative setbacks for the government have blown a new hole in the budgetary calculations at a time when the deficit is stubbornly large and the economy is struggling to grow. 

She appeared with Keir Starmer on Thursday and the pair embraced, but he had failed to give her his backing as she cried a day earlier.

A spokesman said her upset demeanour was due to a personal matter.

Brief scoreline:

Manchester United 0

Manchester City 2

Bernardo Silva 54', Sane 66'

F1 The Movie

Starring: Brad Pitt, Damson Idris, Kerry Condon, Javier Bardem

Director: Joseph Kosinski

Rating: 4/5

The Two Popes

Director: Fernando Meirelles

Stars: Anthony Hopkins, Jonathan Pryce 

Four out of five stars

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UAE currency: the story behind the money in your pockets

Awar Qalb

Director: Jamal Salem

Starring: Abdulla Zaid, Joma Ali, Neven Madi and Khadija Sleiman

Two stars

Signs%20of%20%20%20%20%20%20%20heat%20stroke
%3Cul%3E%0A%3Cli%3EThe%20loss%20of%20sodium%20chloride%20in%20our%20sweat%20can%20lead%20to%20confusion%20and%20an%20altered%20mental%20status%20and%20slurred%20speech%3C%2Fli%3E%0A%3Cli%3EBody%20temperature%20above%2039%C2%B0C%3C%2Fli%3E%0A%3Cli%3EHot%2C%20dry%20and%20red%20or%20damp%20skin%20can%20indicate%20heatstroke%3C%2Fli%3E%0A%3Cli%3EA%20faster%20pulse%20than%20usual%3C%2Fli%3E%0A%3Cli%3EDizziness%2C%20nausea%20and%20headaches%20are%20also%20signs%20of%20overheating%3C%2Fli%3E%0A%3Cli%3EIn%20extreme%20cases%2C%20victims%20can%20lose%20consciousness%20and%20require%20immediate%20medical%20attention%3C%2Fli%3E%0A%3C%2Ful%3E%0A
Januzaj's club record

Manchester United 50 appearances, 5 goals

Borussia Dortmund (loan) 6 appearances, 0 goals

Sunderland (loan) 25 appearances, 0 goals

Will the pound fall to parity with the dollar?

The idea of pound parity now seems less far-fetched as the risk grows that Britain may split away from the European Union without a deal.

Rupert Harrison, a fund manager at BlackRock, sees the risk of it falling to trade level with the dollar on a no-deal Brexit. The view echoes Morgan Stanley’s recent forecast that the currency can plunge toward $1 (Dh3.67) on such an outcome. That isn’t the majority view yet – a Bloomberg survey this month estimated the pound will slide to $1.10 should the UK exit the bloc without an agreement.

New Prime Minister Boris Johnson has repeatedly said that Britain will leave the EU on the October 31 deadline with or without an agreement, fuelling concern the nation is headed for a disorderly departure and fanning pessimism toward the pound. Sterling has fallen more than 7 per cent in the past three months, the worst performance among major developed-market currencies.

“The pound is at a much lower level now but I still think a no-deal exit would lead to significant volatility and we could be testing parity on a really bad outcome,” said Mr Harrison, who manages more than $10 billion in assets at BlackRock. “We will see this game of chicken continue through August and that’s likely negative for sterling,” he said about the deadlocked Brexit talks.

The pound fell 0.8 per cent to $1.2033 on Friday, its weakest closing level since the 1980s, after a report on the second quarter showed the UK economy shrank for the first time in six years. The data means it is likely the Bank of England will cut interest rates, according to Mizuho Bank.

The BOE said in November that the currency could fall even below $1 in an analysis on possible worst-case Brexit scenarios. Options-based calculations showed around a 6.4 per cent chance of pound-dollar parity in the next one year, markedly higher than 0.2 per cent in early March when prospects of a no-deal outcome were seemingly off the table.

Bloomberg

UK-EU trade at a glance

EU fishing vessels guaranteed access to UK waters for 12 years

Co-operation on security initiatives and procurement of defence products

Youth experience scheme to work, study or volunteer in UK and EU countries

Smoother border management with use of e-gates

Cutting red tape on import and export of food

Jetour T1 specs

Engine: 2-litre turbocharged

Power: 254hp

Torque: 390Nm

Price: From Dh126,000

Available: Now

Killing of Qassem Suleimani
Plastic tipping point
War on waste
RESULTS

6.30pm: Maiden Dh 165,000 1,600m
Winner: Superior, Connor Beasley (jockey), Ahmad bin Harmash (trainer)

7.05pm: Handicap Dh 185,000 2,000m
Winner: Tried And True, Pat Dobbs, Doug Watson

7.40pm: Maiden Dh 165,000 1,600m
Winner: Roy Orbison, Fernando Jara, Ali Rashid Al Raihe
8.15pm

Handicap Dh 190,000 1,400m
Winner: Taamol, Dane O’Neill, Ali Rashid Al Raihe
8.50pm

Handicap Dh 175,000 1,600m
Winner: Welford, Richard Mullen, Satish Seemar

9.25pm: Handicap Dh 175,000 1,200m
Winner: Lavaspin, Richard Mullen, Satish Seemar

10pm: Handicap Dh 165,000 1,600m
Winner: Untold Secret, Xavier Ziani, Sandeep Jadhav

World ranking (at month’s end)
Jan - 257
Feb - 198
Mar - 159
Apr - 161
May - 159
Jun – 162
Currently: 88

Year-end rank since turning pro
2016 - 279
2015 - 185
2014 - 143
2013 - 63
2012 - 384
2011 - 883

UAE finals day

Friday, April 13
Rugby Park, Dubai Sports City

3pm, UAE Conference: Dubai Tigers v Sharjah Wanderers
6.30pm, UAE Premiership: Dubai Exiles v Abu Dhabi Harlequins

Specs

Engine: 51.5kW electric motor

Range: 400km

Power: 134bhp

Torque: 175Nm

Price: From Dh98,800

Available: Now

Kareem Shaheen on Canada
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Chef Nobu's advice for eating sushi

“One mistake people always make is adding extra wasabi. There is no need for this, because it should already be there between the rice and the fish.
“When eating nigiri, you must dip the fish – not the rice – in soy sauce, otherwise the rice will collapse. Also, don’t use too much soy sauce or it will make you thirsty. For sushi rolls, dip a little of the rice-covered roll lightly in soy sauce and eat in one bite.
“Chopsticks are acceptable, but really, I recommend using your fingers for sushi. Do use chopsticks for sashimi, though.
“The ginger should be eaten separately as a palette cleanser and used to clear the mouth when switching between different pieces of fish.”

Company Profile:

Name: The Protein Bakeshop

Date of start: 2013

Founders: Rashi Chowdhary and Saad Umerani

Based: Dubai

Size, number of employees: 12

Funding/investors:  $400,000 (2018) 

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UAE currency: the story behind the money in your pockets
The specs

Engine: 2.0-litre 4-cylinder turbo

Power: 240hp at 5,500rpm

Torque: 390Nm at 3,000rpm

Transmission: eight-speed auto

Price: from Dh122,745

On sale: now

The specs
  • Engine: 3.9-litre twin-turbo V8
  • Power: 640hp
  • Torque: 760nm
  • On sale: 2026
  • Price: Not announced yet
GAC GS8 Specs

Engine: 2.0-litre 4cyl turbo

Power: 248hp at 5,200rpm

Torque: 400Nm at 1,750-4,000rpm

Transmission: 8-speed auto

Fuel consumption: 9.1L/100km

On sale: Now

Price: From Dh149,900

Results
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And%20Just%20Like%20That...
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Updated: May 11, 2022, 8:06 AM`
DubaiProperty