Residential sales prices in Abu Dhabi and Dubai fell in February, but the partnership between Aldar Properties and Emaar Properties will buoy the market, according to a new report by property data provider Reidin.
Abu Dhabi sales prices plunged 7.9 per cent year-on-year in February and 1 per cent month-on-month, according to Reidin's residential price indexes for Abu Dhabi and Dubai. In Dubai, sales prices fell 4.1 per cent year-on-year and 0.3 per cent month-on-month.
“Overall market conditions in the UAE have remained stable when we compare total sales transaction volumes in February 2018 with same term last year,” said Reidin’s operations and research director Ozan Demir. “Recently, the UAE’s two major developers Emaar and Aldar announced a partnership to launch Dh30 billion worth of iconic and lifestyle projects locally and internationally. This attests the UAE Government’s ambitions in strengthening real estate regulations and adding economic value to the country.”
The UAE’s property market has softened in the past few years on increased supply, job cuts, reduced housing allowances and weaker economic growth sparked by low oil prices. But a rebound in the price of oil and slower delivery of units is helping the market recover.
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The recent partnership between Aldar and Emaar also signals a greater co-operation between property developers from different emirates, a move that will bolster the real estate market.
In Abu Dhabi, apartment sales prices dipped 9.1 per cent year-on-year in February, while villa sales prices fell 4.1 per cent.
In Dubai, apartment sales prices decreased 4.1 per cent year-on-year in February, while villas sales prices dropped 4 per cent.
With regards to rent, Abu Dhabi suffered from a steeper decline than Dubai.
Rental prices in Abu Dhabi fell 10.7 per cent year-on-year, while in Dubai they dropped 7 per cent year-on-year.
Apartment rentals in Abu Dhabi plunged 11 per cent while villa rentals declined 9.4 per cent.
In Dubai, apartment rentals fell 6.5 per cent and villa rentals tumbled 10.2 per cent.
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Gold
Magomedomar Magomedomarov – Judo – Men’s +100kg
Khaled Al Shehi – Jiu-jitsu – Men’s -62kg
Faisal Al Ketbi – Jiu-jitsu – Men’s -85kg
Asma Al Hosani – Jiu-jitsu – Women’s -52kg
Shamma Al Kalbani – Jiu-jitsu – Women’s -63kg
Silver
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Bishrelt Khorloodoi – Judo – Women’s -52kg
Khalid Al Blooshi – Jiu-jitsu – Men’s -62kg
Mohamed Al Suwaidi – Jiu-jitsu – Men’s -69kg
Balqees Abdulla – Jiu-jitsu – Women’s -48kg
Bronze
Hawraa Alajmi – Karate – Women’s kumite -50kg
Ahmed Al Mansoori – Cycling – Men’s omnium
Abdullah Al Marri – Equestrian – Individual showjumping
Team UAE – Equestrian – Team showjumping
Dzhafar Kostoev – Judo – Men’s -100kg
Narmandakh Bayanmunkh – Judo – Men’s -66kg
Grigorian Aram – Judo – Men’s -90kg
Mahdi Al Awlaqi – Jiu-jitsu – Men’s -77kg
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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.
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The vaccine should offer protection for at least months, but no one knows how long beyond that.
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Dubai works towards better air quality by 2021
Dubai is on a mission to record good air quality for 90 per cent of the year – up from 86 per cent annually today – by 2021.
The municipality plans to have seven mobile air-monitoring stations by 2020 to capture more accurate data in hourly and daily trends of pollution.
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“We’re in a good position except for the cases that are out of our hands, such as sandstorms.
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“The hotspots are Iran, Saudi Arabia and southern Iraq, but we’re working hard with the region to reduce the cycle of sandstorm generation.”
Mr Al Daraji said monitoring as it stood covered 47 per cent of Dubai.
There are 12 fixed stations in the emirate, but Dubai also receives information from monitors belonging to other entities.
“There are 25 stations in total,” Mr Al Daraji said.
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Kuwait: November 15 (from September 16)
Mumbai: January 1 (from October 27)
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