What was the general market movement?
It was a generally stable start to the year for the Dubai renting market, although brokers are seeing fragmentation, which, according to Asteco, is widening the rental ranges "considerably".
Average residential rents fell 1 per cent quarter on quarter, but rates are down by double digits in many areas year-on-year, as they have been in Abu Dhabi.
Lower-end buildings in areas with significant supply potential have struggled to find tenants, particularly where rates and incentives were not aligned with the market.
In an effort to encourage tenants, landlords have been using incentives such as multiple cheques, rent-free periods, or absorbing agency fees and utility bills.
The fall in rents during the past couple of years has come amid lower oil prices and slower economic growth, which has seen companies trim benefits and allowances on offer to employees.
"Housing allowances for many expats are being realigned in line with changing business activity and hence their appetite for higher ticket properties remains low," Manika Dhama, senior consultant at Cavendish Maxwell, said earlier this month.
Which new developments opened?
A total of 3,650 properties were handed over in the first quarter, Asteco said. Of these, 625 were villas. This came on the back of 17,500 new units last year.
Most of the new developments are located in the investment areas along Sheikh Mohammed bin Zayed Road (E311), Emirates Road (E611). Meanwhile, the first of three towers at The Residences at Marina Gate in Dubai Marina opened.
What is the expected supply for the remainder of the year?
Approximately 30,000 units are meant to be delivered in 2018, but only 12 per cent came to the market in the first three months of the year. Apartments are set to provide the bulk of the new builds, providing 21,000 units, with another 5,000 villas to come.
Where can I expect to get a good deal?
Some of Dubai's most popular communities have witnessed the sharpest decline in rents. These include Jumeirah Beach Residence and Jumeirah Village, which both recorded a 15 per cent drop year-on-year, while Downtown Dubai, Dubai Marina and Deira all fell 14 per cent. Other areas that have become more affordable are Palm Jumeirah, Business Bay, Greens and Dubai Sports City. For those who feel they are paying too much rent to live in Dubai, the rates are far cheaper than they were a decade ago.
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Read more:
Abu Dhabi rents in Q1, 2018: All you need to know
Abu Dhabi launches rental index to boost transparency
End of the two-cheque tenancy: UAE's renters find themselves with the upper hand against struggling landlords
Dubai house prices, rents drop in first quarter of 2018
Aldar plans Dh10bn Alghadeer extension near Dubai border
COMPANY PROFILE
Founders: Sebastian Stefan, Sebastian Morar and Claudia Pacurar
Based: Dubai, UAE
Founded: 2014
Number of employees: 36
Sector: Logistics
Raised: $2.5 million
Investors: DP World, Prime Venture Partners and family offices in Saudi Arabia and the UAE
Test
Director: S Sashikanth
Cast: Nayanthara, Siddharth, Meera Jasmine, R Madhavan
Star rating: 2/5
Killing of Qassem Suleimani
High profile Al Shabab attacks
- 2010: A restaurant attack in Kampala Uganda kills 74 people watching a Fifa World Cup final football match.
- 2013: The Westgate shopping mall attack, 62 civilians, five Kenyan soldiers and four gunmen are killed.
- 2014: A series of bombings and shootings across Kenya sees scores of civilians killed.
- 2015: Four gunmen attack Garissa University College in northeastern Kenya and take over 700 students hostage, killing those who identified as Christian; 148 die and 79 more are injured.
- 2016: An attack on a Kenyan military base in El Adde Somalia kills 180 soldiers.
- 2017: A suicide truck bombing outside the Safari Hotel in Mogadishu kills 587 people and destroys several city blocks, making it the deadliest attack by the group and the worst in Somalia’s history.
if you go
Pharaoh's curse
British aristocrat Lord Carnarvon, who funded the expedition to find the Tutankhamun tomb, died in a Cairo hotel four months after the crypt was opened.
He had been in poor health for many years after a car crash, and a mosquito bite made worse by a shaving cut led to blood poisoning and pneumonia.
Reports at the time said Lord Carnarvon suffered from “pain as the inflammation affected the nasal passages and eyes”.
Decades later, scientists contended he had died of aspergillosis after inhaling spores of the fungus aspergillus in the tomb, which can lie dormant for months. The fact several others who entered were also found dead withiin a short time led to the myth of the curse.
KILLING OF QASSEM SULEIMANI
COMPANY%20PROFILE
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COMPANY%20PROFILE%20
%3Cp%3EName%3A%20DarDoc%3Cbr%3EBased%3A%20Abu%20Dhabi%3Cbr%3EFounders%3A%20Samer%20Masri%2C%20Keswin%20Suresh%3Cbr%3ESector%3A%20HealthTech%3Cbr%3ETotal%20funding%3A%20%24800%2C000%3Cbr%3EInvestors%3A%20Flat6Labs%2C%20angel%20investors%20%2B%20Incubated%20by%20Hub71%2C%20Abu%20Dhabi's%20Department%20of%20Health%3Cbr%3ENumber%20of%20employees%3A%2010%3C%2Fp%3E%0A
Motori Profile
Date started: March 2020
Co-founder/CEO: Ahmed Eissa
Based: UAE, Abu Dhabi
Sector: Insurance Sector
Size: 50 full-time employees (Inside and Outside UAE)
Stage: Seed stage and seeking Series A round of financing
Investors: Safe City Group
Indian origin executives leading top technology firms
Sundar Pichai
Chief executive, Google and Alphabet
Satya Nadella
Chief executive, Microsoft
Ajaypal Singh Banga
President and chief executive, Mastercard
Shantanu Narayen
Chief executive, chairman, and president, Adobe
Indra Nooyi
Board of directors, Amazon and former chief executive, PepsiCo
BUNDESLIGA FIXTURES
Friday (all kick-offs UAE time)
Hertha Berlin v Union Berlin (10.30pm)
Saturday
Freiburg v Werder Bremen (5.30pm)
Paderborn v Hoffenheim (5.30pm)
Wolfsburg v Borussia Dortmund (5.30pm)
Borussia Monchengladbach v Bayer Leverkusen (5.30pm)
Bayern Munich v Eintracht Frankfurt (5.30pm)
Sunday
Schalke v Augsburg (3.30pm)
Mainz v RB Leipzig (5.30pm)
Cologne v Fortuna Dusseldorf (8pm)
Sustainable Development Goals
1. End poverty in all its forms everywhere
2. End hunger, achieve food security and improved nutrition and promote sustainable agriculture
3. Ensure healthy lives and promote well-being for all at all ages
4. Ensure inclusive and equitable quality education and promote lifelong learning opportunities for all
5. Achieve gender equality and empower all women and girls
6. Ensure availability and sustainable management of water and sanitation for all
7. Ensure access to affordable, reliable, sustainable and modern energy for all
8. Promote sustained, inclusive and sustainable economic growth, full and productive employment and decent work for all
9. Build resilient infrastructure, promote inclusive and sustainable industrialisation and foster innovation
10. Reduce inequality within and among countries
11. Make cities and human settlements inclusive, safe, resilient and sustainable
12. Ensure sustainable consumption and production patterns
13. Take urgent action to combat climate change and its effects
14. Conserve and sustainably use the oceans, seas and marine resources for sustainable development
15. Protect, restore and promote sustainable use of terrestrial ecosystems, sustainably manage forests, combat desertification, and halt and reverse land degradation and halt biodiversity loss
16. Promote peaceful and inclusive societies for sustainable development, provide access to justice for all and build effective, accountable and inclusive institutions at all levels
17. Strengthen the means of implementation and revitalise the global partnership for sustainable development
More on animal trafficking
GIANT REVIEW
Starring: Amir El-Masry, Pierce Brosnan
Director: Athale
Rating: 4/5
UAE currency: the story behind the money in your pockets
Gulf Under 19s final
Dubai College A 50-12 Dubai College B
THE SPECS
Engine: 1.6-litre turbo
Transmission: six-speed automatic
Power: 165hp
Torque: 240Nm
Price: From Dh89,000 (Enjoy), Dh99,900 (Innovation)
On sale: Now
More from Rashmee Roshan Lall
Electric scooters: some rules to remember
- Riders must be 14-years-old or over
- Wear a protective helmet
- Park the electric scooter in designated parking lots (if any)
- Do not leave electric scooter in locations that obstruct traffic or pedestrians
- Solo riders only, no passengers allowed
- Do not drive outside designated lanes
Mobile phone packages comparison
RESULT
Bayern Munich 0 AC Milan 4
Milan: Kessie (14'), Cutrone (25', 43'), Calhanoglu (85')
THURSDAY FIXTURES
4.15pm: Italy v Spain (Group A)
5.30pm: Egypt v Mexico (Group B)
6.45pm: UAE v Japan (Group A)
8pm: Iran v Russia (Group B)
MATCH INFO
Jersey 147 (20 overs)
UAE 112 (19.2 overs)
Jersey win by 35 runs
