• VILLA PRICES: Palm Jumeirah: Dh2,910 per square foot — up 4.8 per cent a month in March.
    VILLA PRICES: Palm Jumeirah: Dh2,910 per square foot — up 4.8 per cent a month in March.
  • Emirates Hills: Dh2,023 per square foot — up 2.9 per cent a month. Photo: Knight Frank
    Emirates Hills: Dh2,023 per square foot — up 2.9 per cent a month. Photo: Knight Frank
  • Jumeirah: Dh1,935 per square foot — up 4.8 per cent a month. Sarah Dea / The National
    Jumeirah: Dh1,935 per square foot — up 4.8 per cent a month. Sarah Dea / The National
  • District One: Dh1,841 per square foot — up 3.8 per cent a month. Satish Kumar / The National
    District One: Dh1,841 per square foot — up 3.8 per cent a month. Satish Kumar / The National
  • Mohammed bin Rashid City: Dh1,502 per square foot — up 0.2 per cent a month.
    Mohammed bin Rashid City: Dh1,502 per square foot — up 0.2 per cent a month.
  • Dubai Hills: Dh1,426 per square foot — up 0.8 per cent a month. Photo: Emaar Malls Management
    Dubai Hills: Dh1,426 per square foot — up 0.8 per cent a month. Photo: Emaar Malls Management
  • The Meadows: Dh1,447 per square foot — up 2.7 per cent a month. Jeffrey E Biteng / The National
    The Meadows: Dh1,447 per square foot — up 2.7 per cent a month. Jeffrey E Biteng / The National
  • The Lakes: Dh1,408 per square foot — up 2.6 per cent a month. Pawan Singh / The National
    The Lakes: Dh1,408 per square foot — up 2.6 per cent a month. Pawan Singh / The National
  • Jumeirah Islands: Dh1,418 per square foot — up 3.8 per cent a month. Photo: Prestige Dubai
    Jumeirah Islands: Dh1,418 per square foot — up 3.8 per cent a month. Photo: Prestige Dubai
  • Jumeirah Golf Estates: Dh1,298 per square foot — up 2.9 per cent a month. Pawan Singh / The National
    Jumeirah Golf Estates: Dh1,298 per square foot — up 2.9 per cent a month. Pawan Singh / The National
  • The Springs and The Meadows: Dh1,123 per square foot — down 1.8 per cent a month. Photo: Better Homes
    The Springs and The Meadows: Dh1,123 per square foot — down 1.8 per cent a month. Photo: Better Homes
  • Arabian Ranches: Dh1,153 per square foot — up 1.1 per cent a month. Pawan Singh / The National
    Arabian Ranches: Dh1,153 per square foot — up 1.1 per cent a month. Pawan Singh / The National
  • Meydan City: Dh1,147 per square foot — up 1.2 per cent a month.
    Meydan City: Dh1,147 per square foot — up 1.2 per cent a month.
  • Al Barari: Dh1,092 per square foot — down 2.6 per cent a month. Photo: Luxhabitat
    Al Barari: Dh1,092 per square foot — down 2.6 per cent a month. Photo: Luxhabitat
  • Jumeirah Park: Dh1,090 per square foot — down 2 per cent a month. Pawan Singh / The National
    Jumeirah Park: Dh1,090 per square foot — down 2 per cent a month. Pawan Singh / The National
  • Victory Heights: Dh1,089 per square foot — down 2.0 per cent a month. Photo: Luxhabitat
    Victory Heights: Dh1,089 per square foot — down 2.0 per cent a month. Photo: Luxhabitat
  • Mudon: Dh982 per square foot — up 1.9 per cent a month. Satish Kumar / The National
    Mudon: Dh982 per square foot — up 1.9 per cent a month. Satish Kumar / The National
  • Jumeirah Village Triangle: Dh937 per square foot — down 2.5 per cent a month. Pawan Singh / The National
    Jumeirah Village Triangle: Dh937 per square foot — down 2.5 per cent a month. Pawan Singh / The National
  • Sustainable City: Dh943 per square foot — down 0.4 per cent a month. Antonie Robertson / The National
    Sustainable City: Dh943 per square foot — down 0.4 per cent a month. Antonie Robertson / The National
  • Town Square: Dh802 per square foot — up 1.4 per cent a month. Satish Kumar / The National
    Town Square: Dh802 per square foot — up 1.4 per cent a month. Satish Kumar / The National
  • Living Legends: Dh787 per square foot — up 2.3 per cent a month. Pawan Singh / The National
    Living Legends: Dh787 per square foot — up 2.3 per cent a month. Pawan Singh / The National
  • Jumeirah Village Circle: Dh605 per square foot — no change. Antonie Robertson / The National
    Jumeirah Village Circle: Dh605 per square foot — no change. Antonie Robertson / The National
  • Falconcity of Wonders: Dh731 per square foot — up 0.2 per cent a month. Sarah Dea / The National
    Falconcity of Wonders: Dh731 per square foot — up 0.2 per cent a month. Sarah Dea / The National
  • Akoya Oxygen: Dh585 per square foot — down 0.2 per cent a month. Photo: Allsopp & Allsopp
    Akoya Oxygen: Dh585 per square foot — down 0.2 per cent a month. Photo: Allsopp & Allsopp

Dubai property prices: where they are rising and falling - March 2022


Ian Oxborrow
  • English
  • Arabic

Property prices across Dubai continued to rise in March, driven by an increase in investor demand, CBRE says.

The total volume of transactions reached 7,865 last month — an increase of 83.4 per cent compared to a year earlier, while off-plan sales were up 94.6 per cent and secondary market sales up 76.1 per cent.

Total transaction volumes in the first three months reached 19,009.

Average residential property prices rose by 11.3 per cent in the first quarter of this year, CBRE said in its market snapshot. Average apartment prices were up by 10 per cent and villa prices by 20.2 per cent.

Click through the slideshow above to see where apartment prices have risen and fallen.

Where were the highest price increases in Dubai?

In the apartment sector, Green Community saw the biggest month-on-month increase in sales prices in March at 4.9 per cent.

It was followed by Dubai Sports City (4.5 per cent increase), Jebel Ali (4.2 per cent), Remraam (4 per cent) and Business Bay (3.9 per cent).

Palm Jumeirah was up 3 per cent, as was Downtown Dubai, which is the most expensive area for apartments in the city by square foot.

In the villa segment, prices on Palm Jumeirah rose the most at 4.8 per cent, along with Jumeirah, on a monthly basis in March. District One and Jumeirah Islands also had notable price increases of 3.8 per cent.

See the apartment price rises and falls in the slideshow below.

  • APARTMENT PRICES: Downtown Dubai rose by 3 per cent month-on-month in March to Dh2,021 per square foot. Reuters
    APARTMENT PRICES: Downtown Dubai rose by 3 per cent month-on-month in March to Dh2,021 per square foot. Reuters
  • Jumeirah: Dh1,905 per square foot — down 0.2 per cent a month. The National
    Jumeirah: Dh1,905 per square foot — down 0.2 per cent a month. The National
  • The Palm Jumeirah: Dh1,843 per square foot — up 3 per cent a month. Antonie Robertson / The National
    The Palm Jumeirah: Dh1,843 per square foot — up 3 per cent a month. Antonie Robertson / The National
  • DIFC: Dh1,627 per square foot — up 2.4 per cent a month. Jeff Topping / The National
    DIFC: Dh1,627 per square foot — up 2.4 per cent a month. Jeff Topping / The National
  • Jumeirah Beach Residence: Dh1,500 per square foot — down 0.6 per cent a month. Photo: LuxuryProperty.com
    Jumeirah Beach Residence: Dh1,500 per square foot — down 0.6 per cent a month. Photo: LuxuryProperty.com
  • Mohammed bin Rashid City: Dh1,472 per square foot — up 2.6 per cent a month. Satish Kumar / The National
    Mohammed bin Rashid City: Dh1,472 per square foot — up 2.6 per cent a month. Satish Kumar / The National
  • Business Bay: Dh1,476 per square foot — up 3.9 per cent a month. Sarah Dea / The National
    Business Bay: Dh1,476 per square foot — up 3.9 per cent a month. Sarah Dea / The National
  • Dubai Hills: Dh1,444 per square foot — up 2.1 per cent a month. Photo: Emaar Malls Management
    Dubai Hills: Dh1,444 per square foot — up 2.1 per cent a month. Photo: Emaar Malls Management
  • Dubai Marina: Dh1,376 per square foot — down 1.1 per cent a month. Victor Besa / The National
    Dubai Marina: Dh1,376 per square foot — down 1.1 per cent a month. Victor Besa / The National
  • The Greens and The Views: Dh1,103 per square foot — up 1.7 per cent a month. Sarah Dea / The National
    The Greens and The Views: Dh1,103 per square foot — up 1.7 per cent a month. Sarah Dea / The National
  • Jumeirah Lakes Towers: Dh994 per square foot — down 0.4 per cent a month. Antonie Robertson / The National
    Jumeirah Lakes Towers: Dh994 per square foot — down 0.4 per cent a month. Antonie Robertson / The National
  • Damac Hills: Dh985 per square foot — up 2 per cent a month. Pawan Singh / The National
    Damac Hills: Dh985 per square foot — up 2 per cent a month. Pawan Singh / The National
  • Jumeirah Village Circle: Dh895 per square foot — up 1.2 per cent a month. Razan Alzayani / The National
    Jumeirah Village Circle: Dh895 per square foot — up 1.2 per cent a month. Razan Alzayani / The National
  • Town Square: Dh875 per square foot — up 1.1 per cent a month.
    Town Square: Dh875 per square foot — up 1.1 per cent a month.
  • Motor City: Dh669 per square foot — up 2.8 per cent a month.
    Motor City: Dh669 per square foot — up 2.8 per cent a month.
  • Dubai Silicon Oasis: Dh602 per square foot — down 2.6 per cent a month. Chris Whiteoak / The National
    Dubai Silicon Oasis: Dh602 per square foot — down 2.6 per cent a month. Chris Whiteoak / The National
  • Dubai Sports City: Dh618 per square foot — up 4.5 per cent a month. Reem Mohammed / The National
    Dubai Sports City: Dh618 per square foot — up 4.5 per cent a month. Reem Mohammed / The National
  • Discovery Gardens: Dh535 per square foot — down 1.6 per cent a month. Pawan Singh / The National
    Discovery Gardens: Dh535 per square foot — down 1.6 per cent a month. Pawan Singh / The National
  • International City: Dh442 per square foot — no change. Antonie Robertson / The National
    International City: Dh442 per square foot — no change. Antonie Robertson / The National

What's driving the rise in prices?

The UAE property market has been rebounding on the back of government initiatives, such as residency permits for retirees and remote workers, as well as the expansion of the 10-year golden visa programme and the economic boost from Expo 2020 Dubai.

The market has also benefited from the country's widespread coronavirus vaccination programme, which has kept cases relatively low.

“Despite the continued increase in the cost of financing and further tightening of payment plans, we have yet to see this impact transactional activity in Dubai’s residential market," said Taimur Khan, Mena head of Research at CBRE.

"In fact, the total number of transactions in March reached 7,865, up from 5,598 a month earlier. As a result, this has been the strongest first quarter on record for Dubai in terms of residential transactions.

"While average prices and average rents continue to increase, we are seeing a moderation in both sales and rental growth rates in the villa segment of the market.”

The UAE economy is expected to grow 4.9 per cent in 2022, Japan's largest lender MUFG Bank said, while Emirates NBD forecasts growth of 5.7 per cent and Abu Dhabi Commercial Bank estimates a 5 per cent expansion.

Meanwhile, S&P Global Ratings said last month that property prices and rents in Dubai's residential market will continue to increase in 2022, in line with the trend seen in 2021.

Properties are also "relatively affordable", with prices 25 to 30 per cent below 2014 levels, despite a significant rise in 2021, the agency said.

__________________________

Dubai price changes in March - apartments

  • Downtown Dubai - up 3 per cent
  • Jumeirah - down 0.2 per cent
  • Palm Jumeirah - up 3 per cent
  • DIFC - up 2.4 per cent
  • The Old Town - up 1.4 per cent
  • Jumeirah Beach Residence - down 0.6 per cent
  • Business Bay - up 3.9 per cent
  • MBR City - up 2.6 per cent
  • Dubai Hills Estate - 2.1 per cent
  • Dubai Marina - down 1.1 per cent
  • The Views - up 0.9 per cent
  • Dubai Festival City - up 1.1 per cent
  • Meydan City - down 0.5 per cent
  • The Greens and The Views - up 1.7 per cent
  • Jumeirah Lakes Towers - down 0.4 per cent
  • Damac Hills (Akoya) - up 2 per cent
  • Dubai Science Park - down 1.9 per cent
  • The Greens - up 0.1 per cent
  • Jebel Ali - up 4.2 per cent
  • Arjan - up 4.2 per cent
  • Jumeirah Village Circle - up 1.2 per cent
  • Town Square - up 1.1 per cent
  • Green Community (DIP) - up 4.9 per cent
  • Motor City - up 2.8 per cent
  • Dubai Sports City - up 4.5 per cent
  • Dubai Production City (IMPZ) - down 2.5 per cent
  • Living Legends - down 1.3 per cent
  • Dubai Silicon Oasis - down 2.6 per cent
  • Remraam - up 4 per cent
  • Discovery Gardens - down 1.6 per cent
  • Dubailand Residence Complex - down 1.3 per cent
  • Liwan - down 2.9 per cent
  • International City - up 0.1 per cent

Dubai price changes in March - villas

  • Palm Jumeirah - up 4.8 per cent
  • Emirates Hills - up 2.9 per cent
  • Jumeirah - up 4.8 per cent
  • District One - up 3.8 per cent
  • MBR City - up 0.2 per cent
  • The Meadows - up 2.7 per cent
  • Dubai Hills Estate - up 0.8 per cent
  • Jumeirah Islands - up 3.8 per cent
  • The Lakes - up 2.6 per cent
  • Jumeirah Golf Estates - up 2.9 per cent
  • Arabian Ranches - up 1.1 per cent
  • Meydan City - up 1.2 per cent
  • The Springs and The Meadows - down 1.8 per cent
  • Al Barari - down 2.6 per cent
  • Jumeirah Park - down 2 per cent
  • Victory Heights - down 2 per cent
  • The Springs - down 0.5 per cent
  • Damac Hills (Akoya) - up 0.7 per cent
  • Mudon - up 1.9 per cent
  • The Sustainable City - down 0.4 per cent
  • Jumeirah Village Triangle - down 2.5 per cent
  • The Villa - up 1.7 per cent
  • Reem - up 1.6 per cent
  • Town Square - up 1.4 per cent
  • Al Furjan - down 0.5 per cent
  • Living Legends - up 2.3 per cent
  • Green Community (DIP) - down 1.9 per cent
  • Falconcity of Wonders - up 0.2 per cent
  • Jumeirah Village Circle - up 0.1 per cent
  • Akoya Oxygen - down 0.2 per cent
MATCH INFO

Uefa Champions League semi-finals, first leg
Liverpool v Roma

When: April 24, 10.45pm kick-off (UAE)
Where: Anfield, Liverpool
Live: BeIN Sports HD
Second leg: May 2, Stadio Olimpico, Rome

COMPANY%20PROFILE
%3Cp%3E%3Cstrong%3EName%3A%20%3C%2Fstrong%3ETelr%3Cbr%3E%3Cstrong%3EBased%3A%20%3C%2Fstrong%3EDubai%2C%20UAE%3Cbr%3E%3Cstrong%3ELaunch%20year%3A%3C%2Fstrong%3E%202014%3Cbr%3E%3Cstrong%3ENumber%20of%20employees%3A%20%3C%2Fstrong%3E65%3Cbr%3E%3Cstrong%3ESector%3A%20%3C%2Fstrong%3EFinTech%20and%20payments%3Cbr%3E%3Cstrong%3EFunding%3A%20%3C%2Fstrong%3Enearly%20%2430%20million%20so%20far%3C%2Fp%3E%0A
Ten tax points to be aware of in 2026

1. Domestic VAT refund amendments: request your refund within five years

If a business does not apply for the refund on time, they lose their credit.

2. E-invoicing in the UAE

Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption. 

3. More tax audits

Tax authorities are increasingly using data already available across multiple filings to identify audit risks. 

4. More beneficial VAT and excise tax penalty regime

Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.

5. Greater emphasis on statutory audit

There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.

6. Further transfer pricing enforcement

Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes. 

7. Limited time periods for audits

Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion. 

8. Pillar 2 implementation 

Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.

9. Reduced compliance obligations for imported goods and services

Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations. 

10. Substance and CbC reporting focus

Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity. 

Contributed by Thomas Vanhee and Hend Rashwan, Aurifer

WITHIN%20SAND
%3Cp%3EDirector%3A%20Moe%20Alatawi%3C%2Fp%3E%0A%3Cp%3EStarring%3A%20Ra%E2%80%99ed%20Alshammari%2C%20Adwa%20Fahd%2C%20Muhand%20Alsaleh%3C%2Fp%3E%0A%3Cp%3ERating%3A%203%2F5%3C%2Fp%3E%0A
Attacks on Egypt’s long rooted Copts

Egypt’s Copts belong to one of the world’s oldest Christian communities, with Mark the Evangelist credited with founding their church around 300 AD. Orthodox Christians account for the overwhelming majority of Christians in Egypt, with the rest mainly made up of Greek Orthodox, Catholics and Anglicans.

The community accounts for some 10 per cent of Egypt’s 100 million people, with the largest concentrations of Christians found in Cairo, Alexandria and the provinces of Minya and Assiut south of Cairo.

Egypt’s Christians have had a somewhat turbulent history in the Muslim majority Arab nation, with the community occasionally suffering outright persecution but generally living in peace with their Muslim compatriots. But radical Muslims who have first emerged in the 1970s have whipped up anti-Christian sentiments, something that has, in turn, led to an upsurge in attacks against their places of worship, church-linked facilities as well as their businesses and homes.

More recently, ISIS has vowed to go after the Christians, claiming responsibility for a series of attacks against churches packed with worshippers starting December 2016.

The discrimination many Christians complain about and the shift towards religious conservatism by many Egyptian Muslims over the last 50 years have forced hundreds of thousands of Christians to migrate, starting new lives in growing communities in places as far afield as Australia, Canada and the United States.

Here is a look at major attacks against Egypt's Coptic Christians in recent years:

November 2: Masked gunmen riding pickup trucks opened fire on three buses carrying pilgrims to the remote desert monastery of St. Samuel the Confessor south of Cairo, killing 7 and wounding about 20. IS claimed responsibility for the attack.

May 26, 2017: Masked militants riding in three all-terrain cars open fire on a bus carrying pilgrims on their way to the Monastery of St. Samuel the Confessor, killing 29 and wounding 22. ISIS claimed responsibility for the attack.

April 2017Twin attacks by suicide bombers hit churches in the coastal city of Alexandria and the Nile Delta city of Tanta. At least 43 people are killed and scores of worshippers injured in the Palm Sunday attack, which narrowly missed a ceremony presided over by Pope Tawadros II, spiritual leader of Egypt Orthodox Copts, in Alexandria's St. Mark's Cathedral. ISIS claimed responsibility for the attacks.

February 2017: Hundreds of Egyptian Christians flee their homes in the northern part of the Sinai Peninsula, fearing attacks by ISIS. The group's North Sinai affiliate had killed at least seven Coptic Christians in the restive peninsula in less than a month.

December 2016A bombing at a chapel adjacent to Egypt's main Coptic Christian cathedral in Cairo kills 30 people and wounds dozens during Sunday Mass in one of the deadliest attacks carried out against the religious minority in recent memory. ISIS claimed responsibility.

July 2016Pope Tawadros II says that since 2013 there were 37 sectarian attacks on Christians in Egypt, nearly one incident a month. A Muslim mob stabs to death a 27-year-old Coptic Christian man, Fam Khalaf, in the central city of Minya over a personal feud.

May 2016: A Muslim mob ransacks and torches seven Christian homes in Minya after rumours spread that a Christian man had an affair with a Muslim woman. The elderly mother of the Christian man was stripped naked and dragged through a street by the mob.

New Year's Eve 2011A bomb explodes in a Coptic Christian church in Alexandria as worshippers leave after a midnight mass, killing more than 20 people.

How to wear a kandura

Dos

  • Wear the right fabric for the right season and occasion 
  • Always ask for the dress code if you don’t know
  • Wear a white kandura, white ghutra / shemagh (headwear) and black shoes for work 
  • Wear 100 per cent cotton under the kandura as most fabrics are polyester

Don’ts 

  • Wear hamdania for work, always wear a ghutra and agal 
  • Buy a kandura only based on how it feels; ask questions about the fabric and understand what you are buying
The five pillars of Islam

1. Fasting 

2. Prayer 

3. Hajj 

4. Shahada 

5. Zakat 

Tamkeen's offering
  • Option 1: 70% in year 1, 50% in year 2, 30% in year 3
  • Option 2: 50% across three years
  • Option 3: 30% across five years 
Diriyah%20project%20at%20a%20glance
%3Cp%3E-%20Diriyah%E2%80%99s%201.9km%20King%20Salman%20Boulevard%2C%20a%20Parisian%20Champs-Elysees-inspired%20avenue%2C%20is%20scheduled%20for%20completion%20in%202028%0D%3Cbr%3E-%20The%20Royal%20Diriyah%20Opera%20House%20is%20expected%20to%20be%20completed%20in%20four%20years%0D%3Cbr%3E-%20Diriyah%E2%80%99s%20first%20of%2042%20hotels%2C%20the%20Bab%20Samhan%20hotel%2C%20will%20open%20in%20the%20first%20quarter%20of%202024%0D%3Cbr%3E-%20On%20completion%20in%202030%2C%20the%20Diriyah%20project%20is%20forecast%20to%20accommodate%20more%20than%20100%2C000%20people%0D%3Cbr%3E-%20The%20%2463.2%20billion%20Diriyah%20project%20will%20contribute%20%247.2%20billion%20to%20the%20kingdom%E2%80%99s%20GDP%0D%3Cbr%3E-%20It%20will%20create%20more%20than%20178%2C000%20jobs%20and%20aims%20to%20attract%20more%20than%2050%20million%20visits%20a%20year%0D%3Cbr%3E-%20About%202%2C000%20people%20work%20for%20the%20Diriyah%20Company%2C%20with%20more%20than%2086%20per%20cent%20being%20Saudi%20citizens%0D%3C%2Fp%3E%0A

Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

Andor
%3Cp%3E%3Cstrong%3ECreator%3A%3C%2Fstrong%3E%20Tony%20Gilroy%3Cbr%3E%3Cstrong%3EStars%3A%20%3C%2Fstrong%3EDiego%20Luna%2C%20Genevieve%20O'Reilly%2C%20Alex%20Ferns%3Cbr%3E%3Cstrong%3ERating%3A%205%3C%2Fstrong%3E%2F5%3C%2Fp%3E%0A
Skoda Superb Specs

Engine: 2-litre TSI petrol

Power: 190hp

Torque: 320Nm

Price: From Dh147,000

Available: Now

CONFIRMED%20LINE-UP
%3Cp%3EElena%20Rybakina%20(Kazakhstan)%3Cbr%3EOns%20Jabeur%20(Tunisia)%3Cbr%3EMaria%20Sakkari%20(Greece)%3Cbr%3EBarbora%20Krej%C4%8D%C3%ADkov%C3%A1%20(Czech%20Republic)%3Cbr%3EBeatriz%20Haddad%20Maia%20(Brazil)%3Cbr%3EJe%C4%BCena%20Ostapenko%20(Latvia)%3Cbr%3ELiudmila%20Samsonova%3Cbr%3EDaria%20Kasatkina%3Cbr%3EVeronika%20Kudermetova%3Cbr%3ECaroline%20Garcia%20(France)%3Cbr%3EMagda%20Linette%20(Poland)%3Cbr%3ESorana%20C%C3%AErstea%20(Romania)%3Cbr%3EAnastasia%20Potapova%3Cbr%3EAnhelina%20Kalinina%20(Ukraine)%3Cbr%3EJasmine%20Paolini%20(Italy)%3Cbr%3EEmma%20Navarro%20(USA)%3Cbr%3ELesia%20Tsurenko%20(Ukraine)%3Cbr%3EEmma%20Raducanu%20(Great%20Britain)%20%E2%80%93%20wildcard%3C%2Fp%3E%0A
European arms

Known EU weapons transfers to Ukraine since the war began: Germany 1,000 anti-tank weapons and 500 Stinger surface-to-air missiles. Luxembourg 100 NLAW anti-tank weapons, jeeps and 15 military tents as well as air transport capacity. Belgium 2,000 machine guns, 3,800 tons of fuel. Netherlands 200 Stinger missiles. Poland 100 mortars, 8 drones, Javelin anti-tank weapons, Grot assault rifles, munitions. Slovakia 12,000 pieces of artillery ammunition, 10 million litres of fuel, 2.4 million litres of aviation fuel and 2 Bozena de-mining systems. Estonia Javelin anti-tank weapons.  Latvia Stinger surface to air missiles. Czech Republic machine guns, assault rifles, other light weapons and ammunition worth $8.57 million.

NBA Finals results

Game 1: Warriors 124, Cavaliers 114
Game 2: Warriors 122, Cavaliers 103
Game 3: Cavaliers 102, Warriors 110
Game 4: In Cleveland, Sunday (Monday morning UAE)

Wonka
%3Cp%3E%3Cstrong%3EDirector%3A%3C%2Fstrong%3E%C2%A0Paul%20King%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStarring%3A%C2%A0%3C%2Fstrong%3ETimothee%20Chalamet%2C%20Olivia%20Colman%2C%20Hugh%20Grant%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%202%2F5%3C%2Fp%3E%0A
Banned items
Dubai Police has also issued a list of banned items at the ground on Sunday. These include:
  • Drones
  • Animals
  • Fireworks/ flares
  • Radios or power banks
  • Laser pointers
  • Glass
  • Selfie sticks/ umbrellas
  • Sharp objects
  • Political flags or banners
  • Bikes, skateboards or scooters
Why it pays to compare

A comparison of sending Dh20,000 from the UAE using two different routes at the same time - the first direct from a UAE bank to a bank in Germany, and the second from the same UAE bank via an online platform to Germany - found key differences in cost and speed. The transfers were both initiated on January 30.

Route 1: bank transfer

The UAE bank charged Dh152.25 for the Dh20,000 transfer. On top of that, their exchange rate margin added a difference of around Dh415, compared with the mid-market rate.

Total cost: Dh567.25 - around 2.9 per cent of the total amount

Total received: €4,670.30 

Route 2: online platform

The UAE bank’s charge for sending Dh20,000 to a UK dirham-denominated account was Dh2.10. The exchange rate margin cost was Dh60, plus a Dh12 fee.

Total cost: Dh74.10, around 0.4 per cent of the transaction

Total received: €4,756

The UAE bank transfer was far quicker – around two to three working days, while the online platform took around four to five days, but was considerably cheaper. In the online platform transfer, the funds were also exposed to currency risk during the period it took for them to arrive.

A Cat, A Man, and Two Women
Junichiro
Tamizaki
Translated by Paul McCarthy
Daunt Books 

Paatal Lok season two

Directors: Avinash Arun, Prosit Roy 

Stars: Jaideep Ahlawat, Ishwak Singh, Lc Sekhose, Merenla Imsong

Rating: 4.5/5

Dubai Bling season three

Cast: Loujain Adada, Zeina Khoury, Farhana Bodi, Ebraheem Al Samadi, Mona Kattan, and couples Safa & Fahad Siddiqui and DJ Bliss & Danya Mohammed 

Rating: 1/5

SUCCESSION%20SEASON%204%20EPISODE%201
%3Cp%3E%3Cstrong%3ECreated%20by%3A%20%3C%2Fstrong%3EJesse%20Armstrong%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStars%3A%3C%2Fstrong%3E%20Brian%20Cox%2C%20Jeremy%20Strong%2C%20Kieran%20Culkin%2C%20Sarah%20Snook%2C%20Nicholas%20Braun%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%204%2F5%3C%2Fp%3E%0A
Sole survivors
  • Cecelia Crocker was on board Northwest Airlines Flight 255 in 1987 when it crashed in Detroit, killing 154 people, including her parents and brother. The plane had hit a light pole on take off
  • George Lamson Jr, from Minnesota, was on a Galaxy Airlines flight that crashed in Reno in 1985, killing 68 people. His entire seat was launched out of the plane
  • Bahia Bakari, then 12, survived when a Yemenia Airways flight crashed near the Comoros in 2009, killing 152. She was found clinging to wreckage after floating in the ocean for 13 hours.
  • Jim Polehinke was the co-pilot and sole survivor of a 2006 Comair flight that crashed in Lexington, Kentucky, killing 49.
RESULTS

1.45pm: Maiden Dh75,000 1,400m
Winner: Dirilis Ertugrul, Fabrice Veron (jockey), Ismail Mohammed (trainer)
2.15pm: Handicap Dh90,000 1,400m
Winner: Kidd Malibu, Sandro Paiva, Musabah Al Muhairi
2.45pm: Maiden Dh75,000 1,000m
Winner: Raakezz, Tadhg O’Shea, Nicholas Bachalard
3.15pm: Handicap Dh105,000 1,200m
Winner: Au Couer, Sean Kirrane, Satish Seemar
3.45pm: Maiden Dh75,000 1,600m
Winner: Rayig, Pat Dobbs, Doug Watson
4.15pm: Handicap Dh105,000 1,600m
Winner: Chiefdom, Royston Ffrench, Salem bin Ghadayer
4.45pm: Handicap Dh80,000 1,800m
Winner: King’s Shadow, Richard Mullen, Satish Seemar

SPECS
%3Cp%3EEngine%3A%20Supercharged%203.5-litre%20V6%0D%3Cbr%3EPower%3A%20400hp%0D%3Cbr%3ETorque%3A%20430Nm%0D%3Cbr%3EOn%20sale%3A%20Now%0D%3Cbr%3EPrice%3A%20From%20Dh450%2C000%0D%3Cbr%3E%3C%2Fp%3E%0A
Who's who in Yemen conflict

Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government

Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council

Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south

Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory

'I Want You Back'

Director:Jason Orley

Stars:Jenny Slate, Charlie Day

Rating:4/5

A%20QUIET%20PLACE
%3Cp%3E%3Cstrong%3EStarring%3A%3C%2Fstrong%3E%20Lupita%20Nyong'o%2C%20Joseph%20Quinn%2C%20Djimon%20Hounsou%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EDirector%3A%20%3C%2Fstrong%3EMichael%20Sarnoski%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%204%2F5%3C%2Fp%3E%0A
Super%20Mario%20Bros%20Wonder
%3Cp%3E%3Cstrong%3EDeveloper%3A%20%3C%2Fstrong%3ENintendo%20EPD%3Cbr%3E%3Cstrong%3EPublisher%3A%20%3C%2Fstrong%3ENintendo%3Cbr%3E%3Cstrong%3EConsole%3A%20%3C%2Fstrong%3ENintendo%20Switch%3Cbr%3E%3Cstrong%3ERating%3A%20%3C%2Fstrong%3E4%2F5%3C%2Fp%3E%0A
2019 ASIAN CUP FINAL

Japan v Qatar
Friday, 6pm
Zayed Sports City Stadium, Abu Dhabi

2019 Asian Cup final

Japan v Qatar
Friday, 6pm
Zayed Sports City Stadium, Abu Dhabi

Frida%20
%3Cp%3E%3Cstrong%3EDirector%3A%20%3C%2Fstrong%3ECarla%20Gutierrez%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStarring%3A%3C%2Fstrong%3E%20Frida%20Kahlo%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%204%2F5%3C%2Fp%3E%0A
UAE v Ireland

1st ODI, UAE win by 6 wickets

2nd ODI, January 12

3rd ODI, January 14

4th ODI, January 16

The biog

Birthday: February 22, 1956

Born: Madahha near Chittagong, Bangladesh

Arrived in UAE: 1978

Exercise: At least one hour a day on the Corniche, from 5.30-6am and 7pm to 8pm.

Favourite place in Abu Dhabi? “Everywhere. Wherever you go, you can relax.”

Updated: May 17, 2023, 4:13 PM