Business Extra: Property Finder chief on UAE boom and $34m plot of sand



The property market in the UAE is witnessing an unprecedented boom, supported by an increase in demand from international buyers.

This is according to Michael Lahyani, founder and chief executive of Dubai portal Property Finder, who joins host Kelsey Warner on the Business Extra podcast this week.

They talk about the state of the property market and the significance of one historic deal: the sale of the most expensive plot ever sold in the UAE, a patch of sand half the size of a football pitch on Jumeirah Bay Island that sold last month for $34 million.

Also discussed: how the property market has matured over Mr Lahyani's nearly 20-year career here, why the UAE's Golden Visa has changed the game and if Property Finder will go public any time soon.

In this episode:

Most expensive land plot deal (0m 30s)

Overview of the property market in the UAE (2m 27s)

More residents buying houses than before and the impact of the Golden Visa (8m 04s)

How did Property Finder handle the pandemic and whether they consider going public? (18m 20s)

The design

The protective shell is covered in solar panels to make use of light and produce energy. This will drastically reduce energy loss.

More than 80 per cent of the energy consumed by the French pavilion will be produced by the sun.

The architecture will control light sources to provide a highly insulated and airtight building.

The forecourt is protected from the sun and the plants will refresh the inner spaces.

A micro water treatment plant will recycle used water to supply the irrigation for the plants and to flush the toilets. This will reduce the pavilion’s need for fresh water by 30 per cent.

Energy-saving equipment will be used for all lighting and projections.

Beyond its use for the expo, the pavilion will be easy to dismantle and reuse the material.

Some elements of the metal frame can be prefabricated in a factory.

 From architects to sound technicians and construction companies, a group of experts from 10 companies have created the pavilion.

Work will begin in May; the first stone will be laid in Dubai in the second quarter of 2019. 

Construction of the pavilion will take 17 months from May 2019 to September 2020.

FORSPOKEN

Developer: Luminous Productions
Publisher: Square Enix
Console: PC, PS5
Release date: January

Company of Heroes 3

Developer: Relic Entertainment
Publisher: SEGA
Console: PC, PS5, XSX
Release date: February

Star Wars Jedi: Survivor

Developer: Respawn Entertainment
Publisher: Electronic Arts
Console: PC, PS5, XSX
Release date: March

Suicide Squad: Kill the Justice League

Developer: Rocksteady Studios
Publisher: Warner Bros
Console: PC, PS5, XSX
Release date: May

Final Fantasy XVI

Developer: Square Enix
Publisher: Square Enix
Console: PS5
Release date: June

Street Fighter 6

Developer: Capcom
Publisher: Capcom
Console: PS5, XSX, PC
Release date: June

Diablo IV

Developer: Blizzard Entertainment
Publisher: Blizzard Entertainment
Console: PC, PS5, XSX
Release date: June

Baldur's Gate 3

Developer: Larian Studios
Publisher: Larian Studios
Console: PC
Release date: August

The Legend of Zelda: Tears of The Kingdom

Developer: Nintendo
Publisher: Nintendo
Console: Nintendo Switch
Release date: September

Marvel's Spider-Man 2

Developer: Insomniac Games
Publisher: PlayStation
Console: PS5
Release date: Fall

Assassin's Creed Mirage

Developer: Ubisoft
Publisher: Ubisoft
Console: PC, PS5, XSX, Amazon Luna
Release date: 2023

Starfield

Developer: Bethesda Game Studios
Publisher: Bethesda Softworks
Console: PC, Xbox
Release date: 2023

Our family matters legal consultant

Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

Book Details

Three Centuries of Travel Writing by Muslim Women
Editors: Siobhan Lambert-Hurley, Daniel Majchrowicz, Sunil Sharma
Publisher: Indiana University Press; 532 pages

Director: Nag Ashwin

Starring: Prabhas, Saswata Chatterjee, Deepika Padukone, Amitabh Bachchan, Shobhana

Rating: ★★★★

HEADLINE HERE
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  • That's about it
The biog

Name: Fareed Lafta

Age: 40

From: Baghdad, Iraq

Mission: Promote world peace

Favourite poet: Al Mutanabbi

Role models: His parents 

COMPANY PROFILE

Name: SmartCrowd
Started: 2018
Founder: Siddiq Farid and Musfique Ahmed
Based: Dubai
Sector: FinTech / PropTech
Initial investment: $650,000
Current number of staff: 35
Investment stage: Series A
Investors: Various institutional investors and notable angel investors (500 MENA, Shurooq, Mada, Seedstar, Tricap)

The bio:

Favourite holiday destination: I really enjoyed Sri Lanka and Vietnam but my dream destination is the Maldives.

Favourite food: My mum’s Chinese cooking.

Favourite film: Robocop, followed by The Terminator.

Hobbies: Off-roading, scuba diving, playing squash and going to the gym.

 

THE SPECS

Engine: 4.4-litre V8

Transmission: Automatic

Power: 530bhp 

Torque: 750Nm 

Price: Dh535,000

On sale: Now

Key findings
  • Over a period of seven years, a team of scientists analysed dietary data from 50,000 North American adults.
  • Eating one or two meals a day was associated with a relative decrease in BMI, compared with three meals. Snacks count as a meal. Likewise, participants who ate more than three meals a day experienced an increase in BMI: the more meals a day, the greater the increase.
  • People who ate breakfast experienced a relative decrease in their BMI compared with “breakfast-skippers”.
  • Those who turned the eating day on its head to make breakfast the biggest meal of the day, did even better.
  • But scrapping dinner altogether gave the best results. The study found that the BMI of subjects who had a long overnight fast (of 18 hours or more) decreased when compared even with those who had a medium overnight fast, of between 12 and 17 hours.
THE BIG MATCH

Arsenal v Manchester City,

Sunday, Emirates Stadium, 6.30pm

Five calorie-packed Ramadan drinks

Rooh Afza
100ml contains 414 calories
Tang orange drink
100ml serving contains 300 calories
Carob beverage mix
100ml serving contains about 300 calories
Qamar Al Din apricot drink
100ml saving contains 61 calories
Vimto fruit squash
100ml serving contains 30 calories

SPEC SHEET: APPLE IPAD (2022)

Display: 10.9-inch Liquid Retina IPS LCD, 2,360 x 1,640, 264ppi, wide colour, True Tone, Apple Pencil 1 support

Chip: Apple A14 Bionic, 6-core CPU, 4-core GPU, 16-core Neural Engine

Storage: 64GB/256GB

Platform: iPadOS 16

Main camera: 12-megapixel wide, f/1.8, 5x digital, Smart HDR 3

Video: 4K @ 24/25/30/60fps, full HD @ 25/30/60fps, slo-mo @ 120/240fps

Front camera: 12MP ultra-wide, f/2.4, 2x, Smart HDR 3, Centre Stage; full HD @ 25/30/60fps

Audio: Stereo speakers

Biometrics: Touch ID

I/O: USB-C, smart connector (for folio/keyboard)

Battery: Up to 10 hours on Wi-Fi; up to 9 hours on cellular

Finish: Blue, pink, silver, yellow

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

Price: Wi-Fi — Dh1,849 (64GB) / Dh2,449 (256GB); cellular — Dh2,449 (64GB) / Dh3,049 (256GB)

In-demand jobs and monthly salaries
  • Technology expert in robotics and automation: Dh20,000 to Dh40,000 
  • Energy engineer: Dh25,000 to Dh30,000 
  • Production engineer: Dh30,000 to Dh40,000 
  • Data-driven supply chain management professional: Dh30,000 to Dh50,000 
  • HR leader: Dh40,000 to Dh60,000 
  • Engineering leader: Dh30,000 to Dh55,000 
  • Project manager: Dh55,000 to Dh65,000 
  • Senior reservoir engineer: Dh40,000 to Dh55,000 
  • Senior drilling engineer: Dh38,000 to Dh46,000 
  • Senior process engineer: Dh28,000 to Dh38,000 
  • Senior maintenance engineer: Dh22,000 to Dh34,000 
  • Field engineer: Dh6,500 to Dh7,500
  • Field supervisor: Dh9,000 to Dh12,000
  • Field operator: Dh5,000 to Dh7,000
Updated: May 03, 2023, 8:22 AM