Sharjah property developer Arada has purchased land worth Dh600 million ($163.4 million) in Dubai's Zabeel 2 district, signalling its plans to further expand in the emirate's high-end property market.
Arada bought the 138,466-square-foot plot from Rital Properties, the real estate subsidiary of Emirates NBD.
The land is close to Index Tower and Central Park Towers, and lies between the Dubai International Financial Centre and Downtown Dubai, the developer said.
Arada plans to build a 50-floor luxury residential tower on the land, containing 400 apartments offering views of Burj Khalifa and the Dubai skyline.
“This acquisition marks a significant step in strengthening our standing as one of the UAE’s most prominent master developers,” said Arada vice chairman Prince Khaled bin Alwaleed.
“The site is our third prime location in Dubai and underscores our commitment to deliver exceptional projects and to contribute to the powerful and dynamic real estate market of this thriving city.”
Arada launched its first project in Dubai, the Dh2 billion Jouri Hills development within Jumeirah Golf Estates, at the end of 2022. The project features 294 high-end villas and town houses.
Last year, it announced a partnership with the Armani Group and Japanese architect Tadao Ando to build the ultra-luxury Armani Beach Residences on The Palm Jumeirah.
Another project in Dubai will be announced in the first quarter of 2024, the company said.
Arada reported a 186 per cent rise in annual sales in the first half of 2023 amid higher demand from buyers.
The total value of property sales at the developer's projects in Sharjah and Dubai hit Dh4.26 billion in the six-month period to the end of June.
Arada sold 1,616 homes during the period, up 23 per cent from the first half of previous year.
Jouri Hills in Dubai had a strong showing, selling 169 luxury villas worth Dh1.29 billion.
The announcement of the new project comes after the end of a strong year for Dubai’s property sector, during which the value of real estate transactions rose by 37 per cent to Dh430 billion during the first nine months of 2023, compared with the same period the previous year.
Total transactions in the emirate increased by 33.8 per cent on an annual basis, while values rose more than 36.7 per cent during the January to September period.
Property sales continued to rise across the UAE amid a broader economic recovery on the back of higher oil prices and government reforms such as residency permits for retired and remote workers.
In Dubai, residential prices rose by 19.6 per cent annually in the third quarter, with average apartment and villa prices increasing by 19.7 per cent and 18.9 per cent, respectively, according to CBRE.
Design work on Arada’s high-end residential project next to the DIFC has already begun, the company said.
In addition to its project pipeline in Dubai, the developer has three master-planned communities in the Northern Emirates valued at Dh33 billion in total, including Aljada, a mixed-use development in Sharjah.
Know your camel milk:
Flavour: Similar to goat’s milk, although less pungent. Vaguely sweet with a subtle, salty aftertaste.
Texture: Smooth and creamy, with a slightly thinner consistency than cow’s milk.
Use it: In your morning coffee, to add flavour to homemade ice cream and milk-heavy desserts, smoothies, spiced camel-milk hot chocolate.
Goes well with: chocolate and caramel, saffron, cardamom and cloves. Also works well with honey and dates.
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Brazil 2 Croatia 0
Brazil: Neymar (69'), Firmino (90' 3)
The five pillars of Islam
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The internal combustion engine is facing a watershed moment – major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE.
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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
WOMAN AND CHILD
Director: Saeed Roustaee
Starring: Parinaz Izadyar, Payman Maadi
Rating: 4/5
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Mohammed bin Zayed Majlis
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The specs: 2019 Infiniti QX50
Price, base: Dh138,000 (estimate)
Engine: 2.0L, turbocharged, in-line four-cylinder
Transmission: Continuously variable transmission
Power: 268hp @ 5,600rpm
Torque: 380Nm @ 4,400rpm
Fuel economy: 6.7L / 100km (estimate)
Why does a queen bee feast only on royal jelly?
Some facts about bees:
The queen bee eats only royal jelly, an extraordinary food created by worker bees so she lives much longer
The life cycle of a worker bee is from 40-60 days
A queen bee lives for 3-5 years
This allows her to lay millions of eggs and allows the continuity of the bee colony
About 20,000 honey bees and one queen populate each hive
Honey is packed with vital vitamins, minerals, enzymes, water and anti-oxidants.
Apart from honey, five other products are royal jelly, the special food bees feed their queen
Pollen is their protein source, a super food that is nutritious, rich in amino acids
Beewax is used to construct the combs. Due to its anti-fungal, anti-bacterial elements, it is used in skin treatments
Propolis, a resin-like material produced by bees is used to make hives. It has natural antibiotic qualities so works to sterilize hive, protects from disease, keeps their home free from germs. Also used to treat sores, infection, warts
Bee venom is used by bees to protect themselves. Has anti-inflammatory properties, sometimes used to relieve conditions such as rheumatoid arthritis, nerve and muscle pain
Honey, royal jelly, pollen have health enhancing qualities
The other three products are used for therapeutic purposes
Is beekeeping dangerous?
As long as you deal with bees gently, you will be safe, says Mohammed Al Najeh, who has worked with bees since he was a boy.
“The biggest mistake people make is they panic when they see a bee. They are small but smart creatures. If you move your hand quickly to hit the bees, this is an aggressive action and bees will defend themselves. They can sense the adrenalin in our body. But if we are calm, they are move away.”
Specs
Engine: Electric motor generating 54.2kWh (Cooper SE and Aceman SE), 64.6kW (Countryman All4 SE)
Power: 218hp (Cooper and Aceman), 313hp (Countryman)
Torque: 330Nm (Cooper and Aceman), 494Nm (Countryman)
On sale: Now
Price: From Dh158,000 (Cooper), Dh168,000 (Aceman), Dh190,000 (Countryman)
How to come clean about financial infidelity
- Be honest and transparent: It is always better to own up than be found out. Tell your partner everything they want to know. Show remorse. Inform them of the extent of the situation so they know what they are dealing with.
- Work on yourself: Be honest with yourself and your partner and figure out why you did it. Don’t be ashamed to ask for professional help.
- Give it time: Like any breach of trust, it requires time to rebuild. So be consistent, communicate often and be patient with your partner and yourself.
- Discuss your financial situation regularly: Ensure your spouse is involved in financial matters and decisions. Your ability to consistently follow through with what you say you are going to do when it comes to money can make all the difference in your partner’s willingness to trust you again.
- Work on a plan to resolve the problem together: If there is a lot of debt, for example, create a budget and financial plan together and ensure your partner is fully informed, involved and supported.
Carol Glynn, founder of Conscious Finance Coaching
Killing of Qassem Suleimani
Zayed Sustainability Prize
