The Dubai Land Department and real estate portal Property Finder have signed a memorandum of understanding to collaborate on Dubai’s first official sales and rental price index, expected to be available online during the third week of September.
The new index, called Mo’asher, marks the first time the public will have insight into market trends based on official data.
"The Mo'asher will be the source of truth when it comes to real estate prices and trends in Dubai, therefore investors will have confidence knowing the data they are receiving is not speculative but rather factual based on the index," Lynnette Abad, director of research and data at Property Finder, told The National.
The DLD will provide data for the index on a monthly basis. This will be coupled with research and analysis from Property Finder’s data platform, Data Finder. The index will be available on the DLD website and Data Finder. The MoU was signed by Sultan Butti bin Mejren, director-general of DLD, and Michael Lahyani, founder and chief executive of Property Finder.
“Signing a partnership with Property Finder aligns us with an entity that enjoys an established reputation for leading people to property, especially as we are collectively aiming to enhance and increase real estate investment in Dubai,” said Mr bin Mejren in a statement.
“Mo’asher is the official real estate index for Dubai that provides consumers with better insights to help them when taking property buying and renting decisions,” he added.
The latest initiative follows several moves by the DLD to go digital and increase transparency in the real estate market. Last year it launched the blockchain-based Real Estate Self Transaction (Dubai REST) app, which provides data on transaction values, includes a rental increase index and allows for title deed verification. In May, it introduced an e-mortgage platform with Mashreq Bank and this week it rolled out Manzili — an online calculator that matches prospective buyers to new and off-plan properties based on their savings and budget.
The DLD’s moves are part of the Dubai 10x strategy, which aims to place government entities 10 years ahead of the rest of the world in all sectors, including real estate.
“Dubai Government’s willingness to partner with the private sector to create the Mo’asher initiative is an important first step in showcasing to the world the level of transparency that should be a standard across the region,” said Property Finder's Mr Lahyani.
Dubai was among the top three improvers globally in the “semi-transparent” category in the 2018 Global Real Estate Transparency Index from real estate consultancy JLL. The city came in 40th place out of the 100 markets covered, moving eight places up the biennial rankings from 2016.
“This will definitely elevate Dubai to the next level in the transparency index,” said Ms Abad.
The new price index, which will include historical data from 2008, will share details such as average price per sale, average price per square foot per sale and average annual rent for freehold, non-freehold and leasehold properties, said Ms Abad. Prices will also be classified at the master community level, so that buyers can compare areas.
“It just gives more transparency to what is actually happening in the market,” she said. “Before everything was very speculative. The index takes out the speculation 100 per cent.”
Company%20profile
Name: Brendalle Belaza
From: Crossing Rubber, Philippines
Arrived in the UAE: 2007
Favourite place in Abu Dhabi: NYUAD campus
Favourite photography style: Street photography
Favourite book: Harry Potter
Sui Dhaaga: Made in India
Director: Sharat Katariya
Starring: Varun Dhawan, Anushka Sharma, Raghubir Yadav
3.5/5
Blonde
Global state-owned investor ranking by size
1. |
United States |
2. |
China |
3. |
UAE |
4. |
Japan |
5 |
Norway |
6. |
Canada |
7. |
Singapore |
8. |
Australia |
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Saudi Arabia |
10. |
South Korea |
COMPANY%20PROFILE
At Eternity’s Gate
Director: Julian Schnabel
Starring: Willem Dafoe, Oscar Isaacs, Mads Mikkelsen
Three stars
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Real estate tokenisation project
Dubai launched the pilot phase of its real estate tokenisation project last month.
The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.
Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.
Fight card
1. Featherweight 66kg: Ben Lucas (AUS) v Ibrahim Kendil (EGY)
2. Lightweight 70kg: Mohammed Kareem Aljnan (SYR) v Alphonse Besala (CMR)
3. Welterweight 77kg:Marcos Costa (BRA) v Abdelhakim Wahid (MAR)
4. Lightweight 70kg: Omar Ramadan (EGY) v Abdimitalipov Atabek (KGZ)
5. Featherweight 66kg: Ahmed Al Darmaki (UAE) v Kagimu Kigga (UGA)
6. Catchweight 85kg: Ibrahim El Sawi (EGY) v Iuri Fraga (BRA)
7. Featherweight 66kg: Yousef Al Husani (UAE) v Mohamed Allam (EGY)
8. Catchweight 73kg: Mostafa Radi (PAL) v Ahmed Abdelraouf of Egypt (EGY)
9. Featherweight 66kg: Jaures Dea (CMR) v Andre Pinheiro (BRA)
10. Catchweight 90kg: Tarek Suleiman (SYR) v Juscelino Ferreira (BRA)
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
The specs
Engine: 2.0-litre 4-cyl turbo
Power: 201hp at 5,200rpm
Torque: 320Nm at 1,750-4,000rpm
Transmission: 6-speed auto
Fuel consumption: 8.7L/100km
Price: Dh133,900
On sale: now
'Brazen'
Director: Monika Mitchell
Starring: Alyssa Milano, Sam Page, Colleen Wheeler
Rating: 3/5
The specs
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The biog
Name: Shamsa Hassan Safar
Nationality: Emirati
Education: Degree in emergency medical services at Higher Colleges of Technology
Favourite book: Between two hearts- Arabic novels
Favourite music: Mohammed Abdu and modern Arabic songs
Favourite way to spend time off: Family visits and spending time with friends
F1 The Movie
Starring: Brad Pitt, Damson Idris, Kerry Condon, Javier Bardem
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Rating: 4/5
SPEC%20SHEET%3A%20APPLE%20IPHONE%2014%20PRO%20MAX
Sinopharm vaccine explained
The Sinopharm vaccine was created using techniques that have been around for decades.
“This is an inactivated vaccine. Simply what it means is that the virus is taken, cultured and inactivated," said Dr Nawal Al Kaabi, chair of the UAE's National Covid-19 Clinical Management Committee.
"What is left is a skeleton of the virus so it looks like a virus, but it is not live."
This is then injected into the body.
"The body will recognise it and form antibodies but because it is inactive, we will need more than one dose. The body will not develop immunity with one dose," she said.
"You have to be exposed more than one time to what we call the antigen."
The vaccine should offer protection for at least months, but no one knows how long beyond that.
Dr Al Kaabi said early vaccine volunteers in China were given shots last spring and still have antibodies today.
“Since it is inactivated, it will not last forever," she said.
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FA Cup fifth round
Chelsea v Manchester United, Monday, 11.30pm (UAE), BeIN Sports
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Quick pearls of wisdom
Focus on gratitude: And do so deeply, he says. “Think of one to three things a day that you’re grateful for. It needs to be specific, too, don’t just say ‘air.’ Really think about it. If you’re grateful for, say, what your parents have done for you, that will motivate you to do more for the world.”
Know how to fight: Shetty married his wife, Radhi, three years ago (he met her in a meditation class before he went off and became a monk). He says they’ve had to learn to respect each other’s “fighting styles” – he’s a talk it-out-immediately person, while she needs space to think. “When you’re having an argument, remember, it’s not you against each other. It’s both of you against the problem. When you win, they lose. If you’re on a team you have to win together.”
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
COMPANY PROFILE
Results
Stage Two:
1. Mark Cavendish (GBR) QuickStep-AlphaVinyl 04:20:45
2. Jasper Philipsen (BEL) Alpecin-Fenix
3. Pascal Ackermann (GER) UAE Team Emirates
4. Olav Kooij (NED) Jumbo-Visma
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General Classification:
1. Jasper Philipsen (BEL) Alpecin-Fenix 09:03:03
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The Bio
Ram Buxani earned a salary of 125 rupees per month in 1959
Indian currency was then legal tender in the Trucial States.
He received the wages plus food, accommodation, a haircut and cinema ticket twice a month and actuals for shaving and laundry expenses
Buxani followed in his father’s footsteps when he applied for a job overseas
His father Jivat Ram worked in general merchandize store in Gibraltar and the Canary Islands in the early 1930s
Buxani grew the UAE business over several sectors from retail to financial services but is attached to the original textile business
He talks in detail about natural fibres, the texture of cloth, mirrorwork and embroidery
Buxani lives by a simple philosophy – do good to all
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The specs
Engine: 3.0-litre 6-cyl turbo
Power: 435hp at 5,900rpm
Torque: 520Nm at 1,800-5,500rpm
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Specs
Engine: Duel electric motors
Power: 659hp
Torque: 1075Nm
On sale: Available for pre-order now
Price: On request
Fines for littering
In Dubai:
Dh200 for littering or spitting in the Dubai Metro
Dh500 for throwing cigarette butts or chewing gum on the floor, or littering from a vehicle.
Dh1,000 for littering on a beach, spitting in public places, throwing a cigarette butt from a vehicle
In Sharjah and other emirates
Dh500 for littering - including cigarette butts and chewing gum - in public places and beaches in Sharjah
Dh2,000 for littering in Sharjah deserts
Dh500 for littering from a vehicle in Ras Al Khaimah
Dh1,000 for littering from a car in Abu Dhabi
Dh1,000 to Dh100,000 for dumping waste in residential or public areas in Al Ain
Dh10,000 for littering at Ajman's beaches
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Company%20Profile
The specs
Engine: 2.0-litre 4-cylinder turbo
Power: 258hp from 5,000-6,500rpm
Torque: 400Nm from 1,550-4,000rpm
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Fuel consumption: 6.1L/100km
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How to protect yourself when air quality drops
Install an air filter in your home.
Close your windows and turn on the AC.
Shower or bath after being outside.
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116 pitches
76 nations
26 UAE teams
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