Morning round-up: Abu Dhabi Finance mans up

Bradley Hope

August 05, 2009

  • English
  • Arabic

Abu Dhabi Finance

, The National reports.

Philip Ward

, the chief executive, said yesterday that he believed the company was in the top two or three mortgage finance companies in Abu Dhabi with a 20 to 25 per cent market share. The company has received applications of Dh770m, of which Dh600m have been approved.

, which analysts say is further proof that the market is reaching the bottom of the downturn. The US$50m fund from

Mayfair Wealth Management

will invest in completed and near-completed properties, including resales and rentals. See also The National's previous stories about distressed funds

and

.

but they are running into difficulties with the developer,

AA Global

, and the

Real Estate Regulatory Authority

, Emirates Business 24/7 reports.

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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

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