• Soniya and Imran Rajwani and their four year-old son, Vivaan, in their two-bedroom home in the City of Lights on Reem Island, Abu Dhabi. All photos: Victor Besa / The National.
    Soniya and Imran Rajwani and their four year-old son, Vivaan, in their two-bedroom home in the City of Lights on Reem Island, Abu Dhabi. All photos: Victor Besa / The National.
  • The family live in the 34th-floor apartment, which they bought for Dh985,000
    The family live in the 34th-floor apartment, which they bought for Dh985,000
  • The apartment has a living room and separate dining area
    The apartment has a living room and separate dining area
  • The family enjoy the amount of light in their home, and the views
    The family enjoy the amount of light in their home, and the views
  • There is an open-plan kitchen
    There is an open-plan kitchen
  • The couple enjoy plants and also have a small balcony
    The couple enjoy plants and also have a small balcony
  • Imran's parents also share the flat and the family like to eat together
    Imran's parents also share the flat and the family like to eat together
  • Family photos on the wall of the home, which also has a laundry room and three bathrooms
    Family photos on the wall of the home, which also has a laundry room and three bathrooms

My Own Home: Family of five love life in Dh980,000 two-bedroom Reem Island apartment


  • English
  • Arabic

My Own Home takes you inside a reader-owned property to ask how much they paid, why they decided to buy and what they have done with it since moving in

Hotel sales manager Soniya Sharma Rajwani and her husband Imran Rajwani, a strategy and planning manager, bought their Abu Dhabi dream home after one year of renting in the emirate.

They moved to the UAE two years ago, having lived in Muscat for 11 years, and now live in the 34th-floor apartment, which they bought for Dh980,000 in the City of Lights on Reem Island.

They live there with Imran’s parents and their four-year-old son, Vivaan. It has two bedrooms, as well as a living room and separate dining area, open-plan kitchen, laundry room and three bathrooms.

It might get a little crowded at times, but they wouldn’t change a thing – and plan to live there for years to come.

The National takes a tour.

Please tell us about your home

Soniya Sharma Rajwani: It's very nice. It has a very small, cute balcony, which has a little plant garden.

Imran Rajwani: It's a corner flat, it has a curve, so a lot of natural light comes in. And we are on 34th floor, so the view is quite good.

How is it with five people living together?

Soniya: It gets crowded, but it is nice. We get to spend more time together as a family. Our dinners are always together, and during our weekend all our meals are together.

Why did you decide to buy a property?

Imran: We bought the house last year, in November. We were renting a house when I moved to Abu Dhabi and we were staying on Reem Island, but after one year we realised that rent is increasing. Our landlord was asking us to move out because he was getting a better deal.

At first we thought we’d move somewhere else, but then we did our calculations. We looked at a lot of flats and then we found this one, it’s the perfect one. It was in our budget, we could arrange a down payment and were able to quickly get the loan from FAB Bank.

Because we have a kid and my parents are staying with us, it’s the right decision. It’s very difficult to move from one place to another place every year, taking all your stuff.

My wife also loves to decorate and I always stop her, because we were always going to move, but now we can really invest in the house.

Soniya Sharma Rajwani and her husband Imran Rajwani love their home on Reem Island. Victor Besa / The National.
Soniya Sharma Rajwani and her husband Imran Rajwani love their home on Reem Island. Victor Besa / The National.

What renovations have you done?

Imran: We invested a little on decorating, improving the laundry room, storage area, kitchen and the dining room. We haven’t done any full renovation.

Soniya: We might do more later on when our son grows a little. We are planning to convert the living room into a bedroom and maybe upgrade the kitchen area, to close it off, if required.

We’re an Indian household, so we do a lot of cooking.

Why did you choose this neighbourhood?

Soniya: Reem Island is beautiful. It’s quiet, it’s away from the city’s everyday hustle and bustle.

There’s a bridge that connects you directly to Reem Island and you don’t have to go through a lot of signals.

In the City of Lights there is a nice, decent crowd, it’s surrounded by the creek, there is a lot of beach area where we can go easily for morning and evening walks. There are a lot of gardens around and kids’ play areas.

It was also a very, very fair deal, compared to what else you can find in the UAE, even in Reem Island. Somehow we got just so blessed to get this apartment at that rate.

Imran: One thing we were looking for was a house with a balcony. We also wanted both bedrooms to have en suite bathrooms.

There is also a lot of mangrove plantation around.

What facilities do you have access to?

Imran: You have a very huge swimming pool, there is a huge gym available, there is a kids’ play area and Reem Central Park is quite nearby.

Sky and Sun Tower Garden area is also quite nearby. We have two malls, Reem Mall and some boutiques.

A place should feel like you want to come back to it after office hours, so this is the perfect place for me.

How long do you plan on staying?

Soniya: I was thinking that I'll get retired the moment I go into my forties. But the day we bought our house, I realised that now, even if I take retirement, this is still our home.

The best part is our parents love the house. When we were in Oman, it was a little slow-paced, they wanted to go back home because they miss the people, but from the time we moved to Abu Dhabi, they are loving it.

They say, “If you want to go, go, but we are not going anywhere.”

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Full list of Emmy 2020 nominations

LEAD ACTOR IN A COMEDY SERIES

Anthony Anderson, Black-ish
Don Cheadle, Black Monday
Ted Danson, The Good Place
Michael Douglas, The Kominsky Method
Eugene Levy, Schitt’s Creek
Ramy Youssef, Ramy

LEAD ACTRESS IN A COMEDY SERIES

Christina Applegate, Dead to Me
Rachel Brosnahan, The Marvelous Mrs. Maisel
Linda Cardellini, Dead to Me
Catherine O’Hara, Schitt’s Creek
Issa Rae, Insecure
Tracee Ellis Ross, Black-ish

OUTSTANDING VARIETY/TALK SERIES

The Daily Show with Trevor Noah
Full Frontal with Samantha Bee
Jimmy Kimmel Live
Last Week Tonight with John Oliver
The Late Show with Stephen Colbert

LEAD ACTOR IN A DRAMA SERIES

Jason Bateman, Ozark
Sterling K. Brown, This Is Us
Steve Carell, The Morning Show
Brian Cox, Succession
Billy Porter, Pose
Jeremy Strong, Succession

LEAD ACTRESS IN A DRAMA SERIES

Jennifer Aniston, The Morning Show
Olivia Colman, The Crown
Jodie Comer, Killing Eve
Laura Linney, Ozark
Sandra Oh, Killing Eve
Zendaya, Euphoria

OUTSTANDING REALITY/COMPETITION PROGRAM

The Masked Singer
Nailed It!
RuPaul’s Drag Race
Top Chef
The Voice

LEAD ACTOR IN A LIMITED SERIES/TV MOVIE

Jeremy Irons, Watchmen
Hugh Jackman, Bad Education
Paul Mescal, Normal People
Jeremy Pope, Hollywood
Mark Ruffalo, I Know This Much Is True

LEAD ACTRESS IN A LIMITED SERIES/TV MOVIE

Cate Blanchett, Mrs. America
Shira Haas, Unorthodox
Regina King, Watchmen
Octavia Spencer, Self Made
Kerry Washington, Little Fires Everywhere

OUTSTANDING LIMITED SERIES

Little Fires Everywhere
Mrs. America
Unbelievable
Unorthodox
Watchmen

OUTSTANDING COMEDY SERIES

Curb Your Enthusiasm
Dead to Me
The Good Place
Insecure
The Kominsky Method
The Marvelous Mrs. Maisel
Schitt’s Creek
What We Do In The Shadows

OUTSTANDING DRAMA SERIES

Better Call Saul
The Crown
The Handmaid’s Tale
Killing Eve
The Mandalorian
Ozark
Stranger Things
Succession

 

The%20Caine%20Mutiny%20Court-Martial%20
%3Cp%3E%3Cstrong%3EDirector%3A%20%3C%2Fstrong%3EWilliam%20Friedkin%3Cbr%3E%3Cstrong%3EStars%3A%20%3C%2Fstrong%3EKiefer%20Sutherland%2C%20Jason%20Clarke%2C%20Jake%20Lacy%3Cbr%3E%3Cstrong%3ERating%3A%20%3C%2Fstrong%3E3%2F5%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.”

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.

T20 WORLD CUP QUALIFIERS

Qualifier A, Muscat

(All matches to be streamed live on icc.tv) 

Fixtures

Friday, February 18: 10am Oman v Nepal, Canada v Philippines; 2pm Ireland v UAE, Germany v Bahrain 

Saturday, February 19: 10am Oman v Canada, Nepal v Philippines; 2pm UAE v Germany, Ireland v Bahrain 

Monday, February 21: 10am Ireland v Germany, UAE v Bahrain; 2pm Nepal v Canada, Oman v Philippines 

Tuesday, February 22: 2pm Semi-finals 

Thursday, February 24: 2pm Final 

UAE squad:Ahmed Raza(captain), Muhammad Waseem, Chirag Suri, Vriitya Aravind, Rohan Mustafa, Kashif Daud, Zahoor Khan, Alishan Sharafu, Raja Akifullah, Karthik Meiyappan, Junaid Siddique, Basil Hameed, Zafar Farid, Mohammed Boota, Mohammed Usman, Rahul Bhatia

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

The Programme

Saturday, October 26: ‘The Time That Remains’ (2009) by Elia Suleiman
Saturday, November 2: ‘Beginners’ (2010) by Mike Mills
Saturday, November 16: ‘Finding Vivian Maier’ (2013) by John Maloof and Charlie Siskel
Tuesday, November 26: ‘All the President’s Men’ (1976) by Alan J Pakula
Saturday, December 7: ‘Timbuktu’ (2014) by Abderrahmane Sissako
Saturday, December 21: ‘Rams’ (2015) by Grimur Hakonarson

The specs
Engine: 2.7-litre 4-cylinder Turbomax
Power: 310hp
Torque: 583Nm
Transmission: 8-speed automatic
Price: From Dh192,500
On sale: Now
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Company Profile

Name: Thndr
Started: 2019
Co-founders: Ahmad Hammouda and Seif Amr
Sector: FinTech
Headquarters: Egypt
UAE base: Hub71, Abu Dhabi
Current number of staff: More than 150
Funds raised: $22 million

Updated: June 27, 2024, 8:19 AM