My Own Home: Couple buy fully furnished Al Furjan apartment off-plan for Dh1.15 million


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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

Finance professional Richa Bhatt and her husband Kushal, owner of ethnic menswear line Erkan Dubai, both grew up in the UAE, but they only recently bought their first home since getting married.

After living at Kushal’s family home near City Walk, the couple decided to buy their own two-bedroom apartment in Al Furjan, a neighbourhood they described as “up and coming”.

They opted for a fully furnished, 1,100-square-foot, Dh1.15 million unit in Pearlz by Danube, which has more than 40 amenities, from a padel court to an outdoor cinema and even an on-call doctor and in-house babysitting services.

The National takes a look around.

Please tell me about your home.

Kushal Bhatt: We own an apartment in Pearlz by Danube and it's a two-bedroom apartment on the 10th floor.

It has an open layout, with an open kitchen, a dining area, the living area and then the two bedrooms. We also have a huge balcony with an amazing view, actually. It's quite bright.

When did you buy the property?

Richa Bhatt: It was in 2022, around June or July, when it was launched.

As per their initial contract, it was supposed to be handed over in December 2024, but they gave it to us six months prior to the commitment date.

We got the handover by June or July this year, and we moved in August.

How much is it worth now?

Richa: We bought it for Dh1.15 million and I believe it’s Dh1.5 million or Dh1.6 million now, but I haven't really checked.

I know that it has appreciated, for sure. We get a lot of calls to find out if we are interested to sell or to rent it out but, as of now, we are already living in it and we’re really enjoying the whole experience.

Why did you decide to buy?

Kushal: Actually, it was very spontaneous. We bought it with the idea of it being an investment, but when we saw the amenities and the layout, we decided to live in it.

It’s not my first investment with Danube. I have a couple of other apartments in their other projects as well, but this was the first one we got with two bedrooms and for me and my wife.

Richa: One of the main highlights is it’s really close to the Dubai Metro station, just a two-to-five-minute walk.

The view of Al Furjan from the apartment. Chris Whiteoak / The National
The view of Al Furjan from the apartment. Chris Whiteoak / The National

Why did you choose to live in Al Furjan?

Richa: Al Furjan is what I’d call very up and coming. There is a lot of development, a lot of projects nearby and lots of restaurants.

Before, we were staying in Jumeirah and it felt a bit away from the city. But in Al Furjan, while we are away from the city, because the area has really developed, it doesn’t really feel like it.

We can now connect directly to Sheikh Mohamed bin Zayed Road and the connections are very good from this area.

Plus, now it has been announced that the airport will be moving operations from Dubai International to DWC, I think this is going to be the new downtown area.

What facilities do you have access to?

Kushal: We pretty much have access to everything. We have a padel court, we have a pool, a gym, a sauna, a steam room. There is an outdoor theatre facility and a games arena where you can play pool or air hockey. There’s a children’s play area as well.

Richa: Two new things they've added here is, in the building itself, they have a clinic, and also for parents, they have an in-house nanny facility.

The swimming pool at Pearlz by Danube. Chris Whiteoak / The National
The swimming pool at Pearlz by Danube. Chris Whiteoak / The National

Kushal: We also have an app we use to book things. We use it to approve deliveries and give people access to the building and our apartment. Pretty much wherever you are, you are always connected with the building.

Richa: If there are any notices they want to share with us, for example, if there's any pest control happening in the building, or there's some maintenance work, water works, or anything related to the building, it's shared with us through the app.

Kushal: It’s like your own community that you're getting along with the apartment, since you're always connected with whatever is happening.

How would you describe the interior design style?

Kushal: I think it's more of a contemporary, minimalistic approach they have given. It is a fully furnished apartment, so we didn't have to go furniture shopping at all.

The couple bought the property fully furnished. Chris Whiteoak / The National
The couple bought the property fully furnished. Chris Whiteoak / The National

Richa: We have a fridge, washing machine, the microwave, everything. The only thing that I purchased was the TV.

We are Hindus, so I also have a home temple.

Kushal: There’s also a one-year warranty, so if there's anything which is not working or which has been not set up properly, you just have a fill in a form with all the defects and hand it over to the reception area, and they send people over to get everything sorted out. It’s a pretty good deal.

Richa: All we did is just pack our bags and we moved in.

How long do you plan to live in this property for?

Kushal: We’re not sure as this is just the beginning.

WHAT IS A BLACK HOLE?

1. Black holes are objects whose gravity is so strong not even light can escape their pull

2. They can be created when massive stars collapse under their own weight

3. Large black holes can also be formed when smaller ones collide and merge

4. The biggest black holes lurk at the centre of many galaxies, including our own

5. Astronomers believe that when the universe was very young, black holes affected how galaxies formed

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.”

The specs

Engine: 2-litre 4-cylinder and 3.6-litre 6-cylinder

Power: 220 and 280 horsepower

Torque: 350 and 360Nm

Transmission: eight-speed automatic

Price: from Dh136,521 VAT and Dh166,464 VAT 

On sale: now

APPLE IPAD MINI (A17 PRO)

Display: 21cm Liquid Retina Display, 2266 x 1488, 326ppi, 500 nits

Chip: Apple A17 Pro, 6-core CPU, 5-core GPU, 16-core Neural Engine

Storage: 128/256/512GB

Main camera: 12MP wide, f/1.8, digital zoom up to 5x, Smart HDR 4

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Biometrics: Touch ID, Face ID

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In the box: iPad mini, USB-C cable, 20W USB-C power adapter

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Polarised public

31% in UK say BBC is biased to left-wing views

19% in UK say BBC is biased to right-wing views

19% in UK say BBC is not biased at all

Source: YouGov

RESULTS

1.30pm Handicap (PA) Dh 50,000 (Dirt) 1,400m

Winner AF Almomayaz, Hugo Lebouc (jockey), Ali Rashid Al Raihe (trainer)

2pm Handicap (TB) Dh 84,000 (D) 1,400m

Winner Karaginsky, Tadhg O’Shea, Satish Seemar.

2.30pm Maiden (TB) Dh 60,000 (D) 1,200m

Winner Sadeedd, Ryan Curatolo, Nicholas Bachalard.

3pm Conditions (TB) Dh 100,000 (D) 1,950m

Winner Blue Sovereign, Clement Lecoeuvre, Erwan Charpy.

3.30pm Handicap (TB) Dh 76,000 (D) 1,800m

Winner Tailor’s Row, Royston Ffrench, Salem bin Ghadayer.

4pm Maiden (TB) Dh 60,000 (D) 1,600m

Winner Bladesmith, Tadhg O’Shea, Satish Seemar.

4.30pm Handicap (TB) Dh 68,000 (D) 1,000m

Winner Shanaghai City, Fabrice Veron, Rashed Bouresly.

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A little about CVRL

Founded in 1985 by Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, the Central Veterinary Research Laboratory (CVRL) is a government diagnostic centre that provides testing and research facilities to the UAE and neighbouring countries.

One of its main goals is to provide permanent treatment solutions for veterinary related diseases. 

The taxidermy centre was established 12 years ago and is headed by Dr Ulrich Wernery. 

F1 The Movie

Starring: Brad Pitt, Damson Idris, Kerry Condon, Javier Bardem

Director: Joseph Kosinski

Rating: 4/5

match info

Maratha Arabians 138-2

C Lynn 91*, A Lyth 20, B Laughlin 1-15

Team Abu Dhabi 114-3

L Wright 40*, L Malinga 0-13, M McClenaghan 1-17

Maratha Arabians won by 24 runs

What are the influencer academy modules?
  1. Mastery of audio-visual content creation. 
  2. Cinematography, shots and movement.
  3. All aspects of post-production.
  4. Emerging technologies and VFX with AI and CGI.
  5. Understanding of marketing objectives and audience engagement.
  6. Tourism industry knowledge.
  7. Professional ethics.
Updated: October 17, 2024, 5:30 AM