What was the general market movement in Abu Dhabi in the second quarter?
The Abu Dhabi rental market remained stable in the second quarter, with very little change in the rates being paid from the previous three months, brokers have said.
Property consultancy Asteco said new leases in good quality developments were being offered above market rates while some owners were still offering reduced rents and incentives to ensure a swift take-up of units.
It said demand for villas in popular areas such as Saadiyat Island and Yas Island remained strong, although rental rates overall were stagnant over the quarter and rose by an annual 5 per cent. The biggest rise over the past 12 months was at West Yas, where rents were up 9 per cent during the period.
JLL, meanwhile, recorded a 3 per cent annual increase in average rental rates across the capital during the period and described demand for new villa and townhouse developments as “robust”.
The most sought-after areas, according to trends observed by property portals Bayut and dubizzle, include Mohamed bin Zayed City, Khalifa City A, Al Reef, Shakhbout City (Khalifa City B) and Al Shamkha South.
The portals said these areas had recorded increases of up to 7 per cent in average annual rents during the first six months of this year.
Al Mushrif was the most sought-after luxury area while Khalifa City A had the highest number of searches for cheaper flats in the city.
The UAE's property market has grown sharply during the past year amid the broader economic recovery from the coronavirus-induced slowdown.
The country’s economy remains on a strong growth trajectory. It grew by 8.2 per cent in the first three months of this year on higher oil prices and measures to mitigate the impact of the Covid-19 pandemic, according to the UAE Central Bank.
What about supply of new units?
About 1,300 apartments were delivered from April to June, according to Asteco.
These were spread across different areas of Abu Dhabi, with the focus on Al Raha Beach and Reem Island.
“While there has been a marked rise in new project launches in the first half of 2022, several others have already progressed to the planning stage and are expected to start construction within the next six to 12 months,” the property consultancy wrote in its second-quarter report.
“The majority of these developments are located in Al Raha Beach, Yas Island and Reem Island.”
Asteco expects a total of 3,400 units to be completed this year, while JLL said it expects 5,000.
New projects announced this year include Louvre Abu Dhabi Residences and Grove District on Saadiyat Island, Reem Hills on Reem Island and Bloom Living, close to the Abu Dhabi International Airport.
How did Abu Dhabi's sales prices perform in the second quarter?
Villa sales prices were largely the same as in the first quarter, but up 10 per cent year on year, Asteco said.
Apartment prices were also flat during the three-month period, but up 4 per cent year on year.
“Completed villas continued to be well received, with emphasis on popular high-quality villa developments,” it said.
“As such, some of these communities recorded double-digit growth, compared with the same period last year. Still, the lack of units available for sale in the secondary market has resulted in particularly high asking prices in several prime [communities].”
JLL reported a year-on-year sales price rise for apartments and villas of 5 per cent on average.
The%20specs
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KLOPP%20AT%20LIVERPOOL
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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
INDIA V SOUTH AFRICA
First Test: October 2-6, at Visakhapatnam
Second Test: October 10-14, at Maharashtra
Third Test: October 19-23, at Ranchi
Company Profile
Name: Thndr
Started: 2019
Co-founders: Ahmad Hammouda and Seif Amr
Sector: FinTech
Headquarters: Egypt
UAE base: Hub71, Abu Dhabi
Current number of staff: More than 150
Funds raised: $22 million
The specs
Engine: 4.0-litre V8 twin-turbocharged and three electric motors
Power: Combined output 920hp
Torque: 730Nm at 4,000-7,000rpm
Transmission: 8-speed dual-clutch automatic
Fuel consumption: 11.2L/100km
On sale: Now, deliveries expected later in 2025
Price: expected to start at Dh1,432,000
SPEC%20SHEET
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DEADPOOL & WOLVERINE
Starring: Ryan Reynolds, Hugh Jackman, Emma Corrin
Director: Shawn Levy
Rating: 3/5
A Long Way Home by Peter Carey
Faber & Faber
Cricket World Cup League Two
Teams
Oman, UAE, Namibia
Al Amerat, Muscat
Results
Oman beat UAE by five wickets
UAE beat Namibia by eight runs
Namibia beat Oman by 52 runs
UAE beat Namibia by eight wickets
Fixtures
Saturday January 11 - UAE v Oman
Sunday January 12 – Oman v Namibia
How Filipinos in the UAE invest
A recent survey of 10,000 Filipino expatriates in the UAE found that 82 per cent have plans to invest, primarily in property. This is significantly higher than the 2014 poll showing only two out of 10 Filipinos planned to invest.
Fifty-five percent said they plan to invest in property, according to the poll conducted by the New Perspective Media Group, organiser of the Philippine Property and Investment Exhibition. Acquiring a franchised business or starting up a small business was preferred by 25 per cent and 15 per cent said they will invest in mutual funds. The rest said they are keen to invest in insurance (3 per cent) and gold (2 per cent).
Of the 5,500 respondents who preferred property as their primary investment, 54 per cent said they plan to make the purchase within the next year. Manila was the top location, preferred by 53 per cent.
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
Teaching in coronavirus times
Results
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Global state-owned investor ranking by size
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United States
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China
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3.
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UAE
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4.
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Japan
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5
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Norway
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Canada
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Singapore
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Australia
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Saudi Arabia
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South Korea
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HAJJAN
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ODI FIXTURE SCHEDULE
First ODI, October 22
Wankhede Stadium, Mumbai
Second ODI, October 25
Maharashtra Cricket Association Stadium, Pune
Third ODI, October 29
Venue TBC
How much do leading UAE’s UK curriculum schools charge for Year 6?
- Nord Anglia International School (Dubai) – Dh85,032
- Kings School Al Barsha (Dubai) – Dh71,905
- Brighton College Abu Dhabi - Dh68,560
- Jumeirah English Speaking School (Dubai) – Dh59,728
- Gems Wellington International School – Dubai Branch – Dh58,488
- The British School Al Khubairat (Abu Dhabi) - Dh54,170
- Dubai English Speaking School – Dh51,269
*Annual tuition fees covering the 2024/2025 academic year
Company%20Profile
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Killing of Qassem Suleimani
Company%C2%A0profile
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The%20specs
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COMPANY%20PROFILE
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How to help
Send “thenational” to the following numbers or call the hotline on: 0502955999
2289 – Dh10
2252 – Dh 50
6025 – Dh20
6027 – Dh 100
6026 – Dh 200
Our legal advisor
Ahmad El Sayed is Senior Associate at Charles Russell Speechlys, a law firm headquartered in London with offices in the UK, Europe, the Middle East and Hong Kong.
Experience: Commercial litigator who has assisted clients with overseas judgments before UAE courts. His specialties are cases related to banking, real estate, shareholder disputes, company liquidations and criminal matters as well as employment related litigation.
Education: Sagesse University, Beirut, Lebanon, in 2005.
Tonight's Chat on The National
Tonight's Chat is a series of online conversations on The National. The series features a diverse range of celebrities, politicians and business leaders from around the Arab world.
Tonight’s Chat host Ricardo Karam is a renowned author and broadcaster who has previously interviewed Bill Gates, Carlos Ghosn, Andre Agassi and the late Zaha Hadid, among others.
Intellectually curious and thought-provoking, Tonight’s Chat moves the conversation forward.
Facebook | Our website | Instagram
F1 2020 calendar
March 15 - Australia, Melbourne; March 22 - Bahrain, Sakhir; April 5 - Vietnam, Hanoi; April 19 - China, Shanghai; May 3 - Netherlands, Zandvoort; May 20 - Spain, Barcelona; May 24 - Monaco, Monaco; June 7 - Azerbaijan, Baku; June 14 - Canada, Montreal; June 28 - France, Le Castellet; July 5 - Austria, Spielberg; July 19 - Great Britain, Silverstone; August 2 - Hungary, Budapest; August 30 - Belgium, Spa; September 6 - Italy, Monza; September 20 - Singapore, Singapore; September 27 - Russia, Sochi; October 11 - Japan, Suzuka; October 25 - United States, Austin; November 1 - Mexico City, Mexico City; November 15 - Brazil, Sao Paulo; November 29 - Abu Dhabi, Abu Dhabi.
The Uefa Awards winners
Uefa Men's Player of the Year: Virgil van Dijk (Liverpool)
Uefa Women's Player of the Year: Lucy Bronze (Lyon)
Best players of the 2018/19 Uefa Champions League
Goalkeeper: Alisson (Liverpool)
Defender: Virgil van Dijk (Liverpool)
Midfielder: Frenkie de Jong (Ajax)
Forward: Lionel Messi (Barcelona)
Uefa President's Award: Eric Cantona
'Top Gun: Maverick'
Rating: 4/5
Directed by: Joseph Kosinski
Starring: Tom Cruise, Val Kilmer, Jennifer Connelly, Jon Hamm, Miles Teller, Glen Powell, Ed Harris
Nick's journey in numbers
Countries so far: 85
Flights: 149
Steps: 3.78 million
Calories: 220,000
Floors climbed: 2,000
Donations: GPB37,300
Prostate checks: 5
Blisters: 15
Bumps on the head: 2
Dog bites: 1
Dhadak
Director: Shashank Khaitan
Starring: Janhvi Kapoor, Ishaan Khattar, Ashutosh Rana
Stars: 3
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.
The Penguin
Starring: Colin Farrell, Cristin Milioti, Rhenzy Feliz
Creator: Lauren LeFranc
Rating: 4/5
