My Own Home takes you inside a reader-owned property to ask how much they paid, why they decided to buy and what they have done with it since moving in
Retired educator Radhika Bhandari and her husband Maninder, who has a background in finance and continues to work as a consultant, are not only proud of their home but also their community.
The couple bought their three-bedroom apartment in Motor City’s Green Community back in 2010 and have since become heavily involved with the local homeowners’ committee.
Radhika – who spends her time working with Indian NGOs online, teaching mahjong at home and looking after her grandchildren – says there is nowhere else like it in Dubai, thanks to the environment, neighbours and the spaciousness afforded by the apartments.
The National takes a tour.
Please tell me about your home.
It is an apartment but it gives us the feeling of living in a villa. It has got a lovely terrace, which is on the ground floor, so we have the pleasure of the view of a lovely lake and lots of greenery.
It has three bedrooms and a huge kitchen, which we have cordoned off and made a little family TV room in there, because that is where we hang out a lot when the grandchildren come.
It has got Dutch bathrooms with all the bedrooms, a powder room, a laundry and storage room inside, as well as another storeroom on the terrace.
There is a very spacious living and dining room. The lovely thing is all the bedrooms and living room look out on to the lake and greenery.
The maid also has her own room and bathroom.
What do you love most about this home?
We love that it is one level. It is just enough space for both of us, as well as when we have visitors, so we do not feel cramped. I think these are some of the most spacious apartments in Dubai – they are well planned, with excellent building materials and lots of storage space. Each apartment comes with two storerooms.
And it is part of a lovely community. There are 160 apartments in the complex, but you never feel as if there are so many people around you.
It is a very different kind of community because, although you are in this huge complex, you are very comfortable, you have your privacy and accessibility, and the people are wonderful here.
I really think it is one of the nicest communities to be living in Dubai. People who have visited all walk in here and say, ‘Wow, this is like an oasis within a desert’, because of the landscaping and the greenery and the water body.
Why did you decide to buy?
We bought the home in 2010 and by then we had been in Dubai for 10 years. We had actually bought another place in Victory Heights, and we were going to move in there but then, due to health reasons, because I wanted a one-level home, we decided to offload that.
We came to visit a friend in Green Community who owned an apartment, and I just fell in love with her place.
At that time, our daughter was taking a gap year between work and doing her master’s degree, so we wanted to be in this end of town because of the accessibility for her, for her friends.
Prices had also come down and we were ready to reinvest in Dubai. We thought since long term we are going to be here, why not? Instead of paying rent every year, we worked out the math.
How much did you buy the house for?
On the market, the house was about Dh2.7 million but because of the downturn, the previous owner had not even moved in or anything and she was in a bit of a stressed situation. So, we got a little cheaper than that, for about Dh2.5 million and we did not take a mortgage.
Today, I would like to think it would be Dh4 million-plus. One would expect that, because the community has really come up well, and we have put some money into the apartment. Plus, we have the prime view on the ground floor with the lake.
I would not expect less than Dh4.2 million to Dh4.3 million. You are not going to get an apartment like this anywhere else.
What renovations have you done?
I have added a lot of storage. The outside terrace area is fully redone, because they give you a shell when you come in. I spent a fair amount on the landscaping and adding features there.
My kitchen also has a new look, thanks to wrapping.
We have not done anything major because the quality of construction is very good. We have not had to replace the floors or anything like that.
Every three to four years, we get it painted. We basically ensure its upkeep and make sure everything is working well.
What amenities do you have access to?
We have two clubhouses between four buildings, which each have a pool, gym and party room.
We have an outside children’s play area and a nice walking area around the community.
How has the neighbourhood changed since you first moved in?
Everything is available here in Motor City. I mean, you have all the top supermarkets, from Spinneys to Carrefour and Waitrose. We have the smaller ones as well, like Viva. We have got Lulu coming in, a Geant is about to open.
You have some medical centres; our GP is down the road. You have ATM machines, very nice children's amenities. There are a variety of eating places.
Accessibility is really easy for us. Within five minutes, you are on Sheikh Zayed Road. You can get on to all the major roads from here very, very easily.
And I live five minutes away from my daughter and my grandchildren, as they are in Victory Heights.
How long do you plan to stay in your home?
I have no desire to upgrade or move while we live in the city. We are going to stay as long as possible.
I do not see us going back home [to India or Singapore] in a rush. We have our daughter and grandchildren here. We have a fabulous group of friends, a very nice social circle. We love the community. Our neighbours are just wonderful. Everyone is on good terms with each other.
The standard of living is so good over here, so unless we really have to for health reasons, I think that would be the only reason we would go back.
Story%20behind%20the%20UAE%20flag
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FA Cup fifth round draw
Sheffield Wednesday v Manchester City
Reading/Cardiff City v Sheffield United
Chelsea v Shrewsbury Town/Liverpool
West Bromwich Albion v Newcastle United/Oxford United
Leicester City v Coventry City/Birmingham City
Northampton Town/Derby County v Manchester United
Southampton/Tottenham Hotspur v Norwich City
Portsmouth v Arsenal
ELIO
Starring: Yonas Kibreab, Zoe Saldana, Brad Garrett
Directors: Madeline Sharafian, Domee Shi, Adrian Molina
Rating: 4/5
SPECS%3A%20Polestar%203
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Look north
BBC business reporters, like a new raft of government officials, are being removed from the national and international hub of London and surely the quality of their work must suffer.
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Our legal consultants
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
AT%20A%20GLANCE
%3Cp%3E%3Cstrong%3EWindfall%3C%2Fstrong%3E%0D%3Cbr%3EAn%20%E2%80%9Cenergy%20profits%20levy%E2%80%9D%20to%20raise%20around%20%C2%A35bn%20in%20a%20year.%20The%20temporary%20one-off%20tax%20will%20hit%20oil%20and%20gas%20firms%20by%2025%20per%20cent%20on%20extraordinary%20profits.%20An%2080%20per%20cent%20investment%20allowance%20should%20calm%20Conservative%20nerves%20that%20the%20move%20will%20dent%20North%20Sea%20firms%E2%80%99%20investment%20to%20save%20them%2091p%20for%20every%20%C2%A31%20they%20spend.%0D%3Cbr%3E%3Cstrong%3EA%20universal%20grant%3C%2Fstrong%3E%0D%3Cbr%3EEnergy%20bills%20discount%2C%20which%20was%20effectively%20a%20%C2%A3200%20loan%2C%20has%20doubled%20to%20a%20%C2%A3400%20discount%20on%20bills%20for%20all%20households%20from%20October%20that%20will%20not%20need%20to%20be%20paid%20back.%0D%3Cbr%3E%3Cstrong%3ETargeted%20measures%3C%2Fstrong%3E%0D%3Cbr%3EMore%20than%20eight%20million%20of%20the%20lowest%20income%20households%20will%20receive%20a%20%C2%A3650%20one-off%20payment.%20It%20will%20apply%20to%20households%20on%20Universal%20Credit%2C%20Tax%20Credits%2C%20Pension%20Credit%20and%20legacy%20benefits.%0D%3Cbr%3ESeparate%20one-off%20payments%20of%20%C2%A3300%20will%20go%20to%20pensioners%20and%20%C2%A3150%20for%20those%20receiving%20disability%20benefits.%3C%2Fp%3E%0A
How Tesla’s price correction has hit fund managers
Investing in disruptive technology can be a bumpy ride, as investors in Tesla were reminded on Friday, when its stock dropped 7.5 per cent in early trading to $575.
It recovered slightly but still ended the week 15 per cent lower and is down a third from its all-time high of $883 on January 26. The electric car maker’s market cap fell from $834 billion to about $567bn in that time, a drop of an astonishing $267bn, and a blow for those who bought Tesla stock late.
The collapse also hit fund managers that have gone big on Tesla, notably the UK-based Scottish Mortgage Investment Trust and Cathie Wood’s ARK Innovation ETF.
Tesla is the top holding in both funds, making up a hefty 10 per cent of total assets under management. Both funds have fallen by a quarter in the past month.
Matt Weller, global head of market research at GAIN Capital, recently warned that Tesla founder Elon Musk had “flown a bit too close to the sun”, after getting carried away by investing $1.5bn of the company’s money in Bitcoin.
He also predicted Tesla’s sales could struggle as traditional auto manufacturers ramp up electric car production, destroying its first mover advantage.
AJ Bell’s Russ Mould warns that many investors buy tech stocks when earnings forecasts are rising, almost regardless of valuation. “When it works, it really works. But when it goes wrong, elevated valuations leave little or no downside protection.”
A Tesla correction was probably baked in after last year’s astonishing share price surge, and many investors will see this as an opportunity to load up at a reduced price.
Dramatic swings are to be expected when investing in disruptive technology, as Ms Wood at ARK makes clear.
Every week, she sends subscribers a commentary listing “stocks in our strategies that have appreciated or dropped more than 15 per cent in a day” during the week.
Her latest commentary, issued on Friday, showed seven stocks displaying extreme volatility, led by ExOne, a leader in binder jetting 3D printing technology. It jumped 24 per cent, boosted by news that fellow 3D printing specialist Stratasys had beaten fourth-quarter revenues and earnings expectations, seen as good news for the sector.
By contrast, computational drug and material discovery company Schrödinger fell 27 per cent after quarterly and full-year results showed its core software sales and drug development pipeline slowing.
Despite that setback, Ms Wood remains positive, arguing that its “medicinal chemistry platform offers a powerful and unique view into chemical space”.
In her weekly video view, she remains bullish, stating that: “We are on the right side of change, and disruptive innovation is going to deliver exponential growth trajectories for many of our companies, in fact, most of them.”
Ms Wood remains committed to Tesla as she expects global electric car sales to compound at an average annual rate of 82 per cent for the next five years.
She said these are so “enormous that some people find them unbelievable”, and argues that this scepticism, especially among institutional investors, “festers” and creates a great opportunity for ARK.
Only you can decide whether you are a believer or a festering sceptic. If it’s the former, then buckle up.
BIO
Favourite holiday destination: Turkey - because the government look after animals so well there.
Favourite film: I love scary movies. I have so many favourites but The Ring stands out.
Favourite book: The Lord of the Rings. I didn’t like the movies but I loved the books.
Favourite colour: Black.
Favourite music: Hard rock. I actually also perform as a rock DJ in Dubai.
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%3Cp%3E%3Cstrong%3EDirector%3A%20%3C%2Fstrong%3EAyan%20Mukerji%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStars%3A%20%3C%2Fstrong%3ERanbir%20Kapoor%2C%20Alia%20Bhatt%20and%20Amitabh%20Bachchan%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%202%2F5%3C%2Fp%3E%0A
The specs
The specs: 2019 Audi Q8
Price, base: Dh315,000
Engine: 3.0-litre turbocharged V6
Gearbox: Eight-speed automatic
Power: 340hp @ 3,500rpm
Torque: 500Nm @ 2,250rpm
Fuel economy, combined: 6.7L / 100km
Results
%3Cp%3E%3Cstrong%3EStage%202%3A%3C%2Fstrong%3E%3Cbr%3E1.%20Soudal%E2%80%93Quick-Step%20-%2018%E2%80%9911%E2%80%9D%3Cbr%3E2.%20EF%20Education%20%E2%80%93%20EasyPost%20-%201%22%3Cbr%3E3.%20Ineos%20Grenadiers%20-%203%22%3Cbr%3E%3Cstrong%3EGeneral%20classification%3A%3C%2Fstrong%3E%3Cbr%3E1.%20Lucas%20Plapp%20(AUS)%20Ineos%20Grenadiers%3Cbr%3E2.%20Remco%20Evenepoel%20(BEL)%20Soudal%E2%80%93Quick-Step%20-%20ST%3Cbr%3E3.%20Nikias%20Arndt%20(GER)%20Bahrain%20Victorious%20-%203%22%3C%2Fp%3E%0A
Jetour T1 specs
Engine: 2-litre turbocharged
Power: 254hp
Torque: 390Nm
Price: From Dh126,000
Available: Now
The Sand Castle
Director: Matty Brown
Stars: Nadine Labaki, Ziad Bakri, Zain Al Rafeea, Riman Al Rafeea
Rating: 2.5/5
Company%20profile
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The%20specs
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Scorecard
Scotland 220
K Coetzer 95, J Siddique 3-49, R Mustafa 3-35
UAE 224-3 in 43,5 overs
C Suri 67, B Hameed 63 not out
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
The bio
His favourite book - 1984 by George Orwell
His favourite quote - 'If you think education is expensive, try ignorance' by Derek Bok, Former President of Harvard
Favourite place to travel to - Peloponnese, Southern Greece
Favourite movie - The Last Emperor
Favourite personality from history - Alexander the Great
Role Model - My father, Yiannis Davos
Like a Fading Shadow
Antonio Muñoz Molina
Translated from the Spanish by Camilo A. Ramirez
Tuskar Rock Press (pp. 310)
'The Lost Daughter'
Director: Maggie Gyllenhaal
Starring: Olivia Colman, Jessie Buckley, Dakota Johnson
Rating: 4/5
Not Dark Yet
Shelby Lynne and Allison Moorer
Four stars
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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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UAE
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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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