Model of the Village development by Dubai South at Cityscape Global held at Dubai World Trade Centre in Dubai. Pawan Singh / The National
Model of the Village development by Dubai South at Cityscape Global held at Dubai World Trade Centre in Dubai. Pawan Singh / The National
Model of the Village development by Dubai South at Cityscape Global held at Dubai World Trade Centre in Dubai. Pawan Singh / The National
Model of the Village development by Dubai South at Cityscape Global held at Dubai World Trade Centre in Dubai. Pawan Singh / The National

Calmer market is welcome


  • English
  • Arabic

As investors and estate agents visit Cityscape Global this week, they will find a property market that has had its exuberance calmed by government policies. This slowing of demand is the result of a deliberate strategy introduced following a 2014 IMF warning that Dubai’s housing market was overheating.

Since then, the Central Bank has introduced a series of caps to the amount of loan to value that consumers can take on to fund property purchases. More important has been the doubling of the transaction tax on sales. This hits the appeal of flipping, a proximate cause of the 2008 financial crisis. Buying to resell in a few months’ time is much less attractive if you’ll be hit with a 4 per cent charge each time you trade land titles.

Another big impact comes from the strengthening dollar. As the price of Dubai property rises in foreign currency terms, selling makes more sense than buying. Property owners see sales earnings go further in their home countries, while foreign buyers want to wait until the dollar falls again before jumping into the market.

The cooling of Dubai’s property market is a welcome development. It reduces the susceptibility of the emirate to sudden capital outflows, like those of 2008. Lower rents in Dubai will be welcomed by tenants, while rent yields are making buy-to-let purchases more attractive. The long-term prognosis is for moderate, positive price growth: Expo 2020, which will swell demand for housing in Dubai, should support prices over the next few years.

But market trends disguise sub-market frictions. A shortage of affordable housing continues to make life tricky for low- and middle-income residents. Much of the upcoming Dubai housing stock caters to wealthy buyers, while rents in cheaper areas have risen fastest of all. That eats into the standard of living of those on low incomes. Rents in Abu Dhabi, where the housing stock is growing more slowly than the population, are set to rise further. Developers must ensure that the country has enough housing available across the income spectrum as a lack of cheap homes could hurt the UAE’s ability to attract workers – there were signs yesterday at Cityscape that this is beginning to happen, but more needs to be done.

How Voiss turns words to speech

The device has a screen reader or software that monitors what happens on the screen

The screen reader sends the text to the speech synthesiser

This converts to audio whatever it receives from screen reader, so the person can hear what is happening on the screen

A VOISS computer costs between $200 and $250 depending on memory card capacity that ranges from 32GB to 128GB

The speech synthesisers VOISS develops are free

Subsequent computer versions will include improvements such as wireless keyboards

Arabic voice in affordable talking computer to be added next year to English, Portuguese, and Spanish synthesiser

Partnerships planned during Expo 2020 Dubai to add more languages

At least 2.2 billion people globally have a vision impairment or blindness

More than 90 per cent live in developing countries

The Long-term aim of VOISS to reach the technology to people in poor countries with workshops that teach them to build their own device

ELIO

Starring: Yonas Kibreab, Zoe Saldana, Brad Garrett

Directors: Madeline Sharafian, Domee Shi, Adrian Molina

Rating: 4/5

Hydrogen: Market potential

Hydrogen has an estimated $11 trillion market potential, according to Bank of America Securities and is expected to generate $2.5tn in direct revenues and $11tn of indirect infrastructure by 2050 as its production increases six-fold.

"We believe we are reaching the point of harnessing the element that comprises 90 per cent of the universe, effectively and economically,” the bank said in a recent report.

Falling costs of renewable energy and electrolysers used in green hydrogen production is one of the main catalysts for the increasingly bullish sentiment over the element.

The cost of electrolysers used in green hydrogen production has halved over the last five years and will fall to 60 to 90 per cent by the end of the decade, acceding to Haim Israel, equity strategist at Merrill Lynch. A global focus on decarbonisation and sustainability is also a big driver in its development.

UAE currency: the story behind the money in your pockets
UAE currency: the story behind the money in your pockets
Victims%20of%20the%202018%20Parkland%20school%20shooting
%3Cp%3EAlyssa%20Alhadeff%2C%2014%3C%2Fp%3E%0A%3Cp%3EScott%20Beigel%2C%2035%0D%3C%2Fp%3E%0A%3Cp%3EMartin%20Duque%2C%2014%3C%2Fp%3E%0A%3Cp%3ENicholas%20Dworet%2C%2017%3C%2Fp%3E%0A%3Cp%3EAaron%20Feis%2C%2037%3C%2Fp%3E%0A%3Cp%3EJaime%20Guttenberg%2C%2014%0D%3C%2Fp%3E%0A%3Cp%3EChris%20Hixon%2C%2049%0D%3C%2Fp%3E%0A%3Cp%3ELuke%20Hoyer%2C%2015%3C%2Fp%3E%0A%3Cp%3ECara%20Loughran%2C%2014%0D%3C%2Fp%3E%0A%3Cp%3EGina%20Montalto%2C%2014%0D%3C%2Fp%3E%0A%3Cp%3EJoaquin%20Oliver%2C%2017%0D%3C%2Fp%3E%0A%3Cp%3EAlaina%20Petty%2C%2014%0D%3C%2Fp%3E%0A%3Cp%3EMeadow%20Pollack%2C%2018%3C%2Fp%3E%0A%3Cp%3EHelena%20Ramsay%2C%2017%0D%3Cbr%3E%0D%3C%2Fp%3E%0A%3Cp%3EAlex%20Schachter%2C%2014%0D%3C%2Fp%3E%0A%3Cp%3ECarmen%20Schentrup%2C%2016%0D%3C%2Fp%3E%0A%3Cp%3EPeter%20Wang%2C%2015%3Cbr%3E%3C%2Fp%3E%0A
UAE currency: the story behind the money in your pockets
TERMINAL HIGH ALTITUDE AREA DEFENCE (THAAD)

What is THAAD?

It is considered to be the US's most superior missile defence system.

Production:

It was created in 2008.

Speed:

THAAD missiles can travel at over Mach 8, so fast that it is hypersonic.

Abilities:

THAAD is designed to take out  ballistic missiles as they are on their downward trajectory towards their target, otherwise known as the "terminal phase".

Purpose:

To protect high-value strategic sites, such as airfields or population centres.

Range:

THAAD can target projectiles inside and outside the Earth's atmosphere, at an altitude of 150 kilometres above the Earth's surface.

Creators:

Lockheed Martin was originally granted the contract to develop the system in 1992. Defence company Raytheon sub-contracts to develop other major parts of the system, such as ground-based radar.

UAE and THAAD:

In 2011, the UAE became the first country outside of the US to buy two THAAD missile defence systems. It then stationed them in 2016, becoming the first Gulf country to do so.

UAE currency: the story behind the money in your pockets
How to keep control of your emotions

If your investment decisions are being dictated by emotions such as fear, greed, hope, frustration and boredom, it is time for a rethink, Chris Beauchamp, chief market analyst at online trading platform IG, says.

Greed

Greedy investors trade beyond their means, open more positions than usual or hold on to positions too long to chase an even greater gain. “All too often, they incur a heavy loss and may even wipe out the profit already made.

Tip: Ignore the short-term hype, noise and froth and invest for the long-term plan, based on sound fundamentals.

Fear

The risk of making a loss can cloud decision-making. “This can cause you to close out a position too early, or miss out on a profit by being too afraid to open a trade,” he says.

Tip: Start with a plan, and stick to it. For added security, consider placing stops to reduce any losses and limits to lock in profits.

Hope

While all traders need hope to start trading, excessive optimism can backfire. Too many traders hold on to a losing trade because they believe that it will reverse its trend and become profitable.

Tip: Set realistic goals. Be happy with what you have earned, rather than frustrated by what you could have earned.

Frustration

Traders can get annoyed when the markets have behaved in unexpected ways and generates losses or fails to deliver anticipated gains.

Tip: Accept in advance that asset price movements are completely unpredictable and you will suffer losses at some point. These can be managed, say, by attaching stops and limits to your trades.

Boredom

Too many investors buy and sell because they want something to do. They are trading as entertainment, rather than in the hope of making money. As well as making bad decisions, the extra dealing charges eat into returns.

Tip: Open an online demo account and get your thrills without risking real money.

UAE squad to face Ireland

Ahmed Raza (captain), Chirag Suri (vice-captain), Rohan Mustafa, Mohammed Usman, Mohammed Boota, Zahoor Khan, Junaid Siddique, Waheed Ahmad, Zawar Farid, CP Rizwaan, Aryan Lakra, Karthik Meiyappan, Alishan Sharafu, Basil Hameed, Kashif Daud, Adithya Shetty, Vriitya Aravind

ICC Women's T20 World Cup Asia Qualifier 2025, Thailand

UAE fixtures
May 9, v Malaysia
May 10, v Qatar
May 13, v Malaysia
May 15, v Qatar
May 18 and 19, semi-finals
May 20, final

The burning issue

The internal combustion engine is facing a watershed moment – major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE. 

Read part four: an affection for classic cars lives on

Read part three: the age of the electric vehicle begins

Read part two: how climate change drove the race for an alternative 

MATCH INFO

Fixture: Thailand v UAE, Tuesday, 4pm (UAE)

TV: Abu Dhabi Sports

EMERGENCY PHONE NUMBERS

Estijaba – 8001717 –  number to call to request coronavirus testing

Ministry of Health and Prevention – 80011111

Dubai Health Authority – 800342 – The number to book a free video or voice consultation with a doctor or connect to a local health centre

Emirates airline – 600555555

Etihad Airways – 600555666

Ambulance – 998

Knowledge and Human Development Authority – 8005432 ext. 4 for Covid-19 queries

UK-EU trade at a glance

EU fishing vessels guaranteed access to UK waters for 12 years

Co-operation on security initiatives and procurement of defence products

Youth experience scheme to work, study or volunteer in UK and EU countries

Smoother border management with use of e-gates

Cutting red tape on import and export of food

ON%20TRACK
%3Cp%3EThe%20Dubai%20Metaverse%20Assembly%20will%20host%20three%20main%20tracks%3A%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EEducate%3A%3C%2Fstrong%3E%20Consists%20of%20more%20than%2010%20in-depth%20sessions%20on%20the%20metaverse%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EInspire%3A%3C%2Fstrong%3E%20Will%20showcase%20use%20cases%20of%20the%20metaverse%20in%20tourism%2C%20logistics%2C%20retail%2C%20education%20and%20health%20care%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EContribute%3A%3C%2Fstrong%3E%20Workshops%20for%20metaverse%20foresight%20and%20use-case%20reviews%3C%2Fp%3E%0A
Tuesday's fixtures
Group A
Kyrgyzstan v Qatar, 5.45pm
Iran v Uzbekistan, 8pm
N Korea v UAE, 10.15pm
How to avoid crypto fraud
  • Use unique usernames and passwords while enabling multi-factor authentication.
  • Use an offline private key, a physical device that requires manual activation, whenever you access your wallet.
  • Avoid suspicious social media ads promoting fraudulent schemes.
  • Only invest in crypto projects that you fully understand.
  • Critically assess whether a project’s promises or returns seem too good to be true.
  • Only use reputable platforms that have a track record of strong regulatory compliance.
  • Store funds in hardware wallets as opposed to online exchanges.
Company%20profile
%3Cp%3E%3Cstrong%3ECompany%20name%3A%3C%2Fstrong%3E%20Fasset%0D%3Cbr%3E%3Cstrong%3EStarted%3A%20%3C%2Fstrong%3E2019%0D%3Cbr%3E%3Cstrong%3EFounders%3A%3C%2Fstrong%3E%20Mohammad%20Raafi%20Hossain%2C%20Daniel%20Ahmed%0D%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Dubai%0D%3Cbr%3E%3Cstrong%3ESector%3A%20%3C%2Fstrong%3EFinTech%0D%3Cbr%3E%3Cstrong%3EInitial%20investment%3A%3C%2Fstrong%3E%20%242.45%20million%0D%3Cbr%3E%3Cstrong%3ECurrent%20number%20of%20staff%3A%3C%2Fstrong%3E%2086%0D%3Cbr%3E%3Cstrong%3EInvestment%20stage%3A%3C%2Fstrong%3E%20Pre-series%20B%0D%3Cbr%3E%3Cstrong%3EInvestors%3A%3C%2Fstrong%3E%20Investcorp%2C%20Liberty%20City%20Ventures%2C%20Fatima%20Gobi%20Ventures%2C%20Primal%20Capital%2C%20Wealthwell%20Ventures%2C%20FHS%20Capital%2C%20VN2%20Capital%2C%20local%20family%20offices%3C%2Fp%3E%0A
Scotland's team:

15-Sean Maitland, 14-Darcy Graham, 13-Nick Grigg, 12-Sam Johnson, 11-Byron McGuigan, 10-Finn Russell, 9-Ali Price, 8-Magnus Bradbury, 7-Hamish Watson, 6-Sam Skinner, 5-Grant Gilchrist, 4-Ben Toolis, 3-Willem Nel, 2-Stuart McInally (captain), 1-Allan Dell

Replacements: 16-Fraser Brown, 17-Gordon Reid, 18-Simon Berghan, 19-Jonny Gray, 20-Josh Strauss, 21-Greig Laidlaw, 22-Adam Hastings, 23-Chris Harris

A meeting of young minds

The 3,494 entries for the 2019 Sharjah Children Biennial come from:

435 – UAE

2,000 – China

808 – United Kingdom

165 – Argentina

38 – Lebanon

16 – Saudi Arabia

16 – Bangladesh

6 – Ireland

3 – Egypt

3 – France

2 – Sudan

1 – Kuwait

1 – Australia
 

'Outclassed in Kuwait'
Taleb Alrefai, 
HBKU Press 

MATCH INFO

Euro 2020 qualifier

Ukraine 2 (Yaremchuk 06', Yarmolenko 27')

Portugal 1 (Ronaldo 72' pen)

SPEC%20SHEET%3A%20APPLE%20TV%204K%20(THIRD%20GENERATION)
%3Cp%3E%3Cstrong%3ECPU%3A%3C%2Fstrong%3E%20Apple%20A15%20Bionic%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ECapacity%3A%3C%2Fstrong%3E%2064GB%2C%20Wi-Fi%20only%3B%20128GB%2C%20Wi-Fi%20%2B%20ethernet%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EConnectivity%3A%3C%2Fstrong%3E%20Wi-Fi%206%2C%20Bluetooth%205.0%2C%20ethernet%20(Wi-Fi%20%2B%20ethernet%20model%20only)%2C%20IR%20receiver%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EI%2FO%3A%3C%2Fstrong%3E%20HDMI%2C%20ethernet%20(128GB%20model%20only)%3B%20Siri%20remote%20(charging%20via%20USB-C)%3B%20accessibility%20features%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EVideo%3A%3C%2Fstrong%3E%20SDR%2FDolby%20Vision%2FHDR10%2B%20up%20to%202160p%20%40%2060fps%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EPeripherals%3A%3C%2Fstrong%3E%20Compatible%20with%20HD%2FUHD%20TVs%20via%20HDMI%2C%20Bluetooth%20keyboards%2C%20AirPods%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EPhoto%3A%3C%2Fstrong%3E%20GIF%2C%20HEIF%2C%20JPEG%2C%20TIFF%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EColour%3A%3C%2Fstrong%3E%20Black%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EIn%20the%20box%3A%3C%2Fstrong%3E%20TV%204K%2C%20Siri%20remote%2C%20power%20cord%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EPrice%3A%3C%2Fstrong%3E%20Dh529%2C%20Wi-Fi%20only%3B%20Dh599%2C%20Wi-Fi%20%2B%20ethernet%3C%2Fp%3E%0A
THE BIO:

Favourite holiday destination: Thailand. I go every year and I’m obsessed with the fitness camps there.

Favourite book: Born to Run by Christopher McDougall. It’s an amazing story about barefoot running.

Favourite film: A League of their Own. I used to love watching it in my granny’s house when I was seven.

Personal motto: Believe it and you can achieve it.

The biog

Favourite Quote: “Real victories are those that protect human life, not those that result from its destruction emerge from its ashes,” by The late king Hussain of Jordan.

Favourite Hobby: Writing and cooking

Favourite Book: The Prophet by Gibran Khalil Gibran