My Dubai Rent takes you inside a reader's home to have a look at what they pay each month, see who they live with and ask what they like and don't like
When Patricia Finn first landed in Dubai in 2000, she viewed one apartment in Bur Dubai and moved in shortly after.
Twenty-two years later, she still calls the same place home.
Living in Bur Dubai is a win-win for the equine nurse from Ireland.
While the rent has fluctuated a lot over the past two decades, she said she’s never been keen to move away from the area as she loves the buzz of old Dubai.
When she first moved in, her rent was Dh64,000 for 13 months. In 2007, it jumped up to Dh84,000 and now she pays Dh72,000 ($19,600) for the year.
With a closed-off kitchen, balcony and separate utility room, she said while the rent is not as cheap as some other one-bedroom properties, she would be hard pressed finding an apartment as spacious as hers.
Here, Ms Finn invites The National into her home for a look around.
Where do you live?
In Bur Dubai. I’ve been in the same apartment for more than 20 years now. I moved to the UAE in 2000, this was the first apartment I viewed. I moved in shortly after and never left.
Tell us about your property?
It’s a one-bed apartment in a low-rise building called Golden Sands 2. I’m on the sixth floor. When I first viewed the property I remember thinking, ‘Wow, this is big enough for a family of 10, never mind just one person.
I have a huge lounge and dining area, a separate kitchen which is large and has plenty of storage space, as well as a separate utility room.
The place was fully furnished when I moved in but over the years I’ve given furniture away and made my own mark.
How much do you pay in rent?
The rent has fluctuated a lot in 20 years. In 2000, it was Dh64,000 for 13 months as I get one month free. It went up to Dh84,000 in 2007 and now it's Dh72,000.
I pay the rent in four cheques — it works out at about Dh6,000 a month.
How have you made your house a home?
I love colour, so I have lots of different coloured furniture in my sitting room. I'm not fussed about having everything matching.
I got rid of my TV in 2013, so you’ll usually just hear music playing when I’m at home. I love my little balcony too.
I'm on the 6th floor so I enjoy lazing on my couch in the evening just before sunset, watching all the birds getting ready to roost for the night. I have water left on my balcony for them.
I’ve worked all over the world, so I have lots of little trinkets from my travels, as well as old photos from years gone by. When you come into the apartment, it's a real mix of styles, colours and patterns.
How did you find the apartment?
My employer helped me find the apartment, as it was part of my benefits package — and still is. One of my old colleagues used to live in the property before I took it over.
What do you like about the area?
I love Bur Dubai, especially the creek area. It's so multicultural and has great character in comparison to new Dubai, in my opinion at least.
There's lots of restaurants nearby that serve delicious and very cheap food, especially biryani, which I love.
Any time I have visitors, I always encourage them to explore the area as it’s the part of Dubai you don’t always get to see on the holiday adverts. But it’s really the gem of the city.
Do you plan on staying in the apartment?
I have thought about moving a few times but I always come to the conclusion that I'm better off where I am in lots of different ways.
Golden Sands 2 is a very clean and very well maintained building, even though it must be about 50 years old now.
I have pleasant neighbours and, as I’ve said, I just love the area. I'm very grateful to my employer for giving me the opportunity to be able to spend more than a third of my life working and living in this beautiful city and my beautiful apartment.
Key findings of Jenkins report
- Founder of the Muslim Brotherhood, Hassan al Banna, "accepted the political utility of violence"
- Views of key Muslim Brotherhood ideologue, Sayyid Qutb, have “consistently been understood” as permitting “the use of extreme violence in the pursuit of the perfect Islamic society” and “never been institutionally disowned” by the movement.
- Muslim Brotherhood at all levels has repeatedly defended Hamas attacks against Israel, including the use of suicide bombers and the killing of civilians.
- Laying out the report in the House of Commons, David Cameron told MPs: "The main findings of the review support the conclusion that membership of, association with, or influence by the Muslim Brotherhood should be considered as a possible indicator of extremism."
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.”
Islamophobia definition
A widely accepted definition was made by the All Party Parliamentary Group on British Muslims in 2019: “Islamophobia is rooted in racism and is a type of racism that targets expressions of Muslimness or perceived Muslimness.” It further defines it as “inciting hatred or violence against Muslims”.
White hydrogen: Naturally occurring hydrogen
Chromite: Hard, metallic mineral containing iron oxide and chromium oxide
Ultramafic rocks: Dark-coloured rocks rich in magnesium or iron with very low silica content
Ophiolite: A section of the earth’s crust, which is oceanic in nature that has since been uplifted and exposed on land
Olivine: A commonly occurring magnesium iron silicate mineral that derives its name for its olive-green yellow-green colour
The%20specs
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J%20Street%20Polling%20Results
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The rules on fostering in the UAE
A foster couple or family must:
- be Muslim, Emirati and be residing in the UAE
- not be younger than 25 years old
- not have been convicted of offences or crimes involving moral turpitude
- be free of infectious diseases or psychological and mental disorders
- have the ability to support its members and the foster child financially
- undertake to treat and raise the child in a proper manner and take care of his or her health and well-being
- A single, divorced or widowed Muslim Emirati female, residing in the UAE may apply to foster a child if she is at least 30 years old and able to support the child financially
First Person
Richard Flanagan
Chatto & Windus
Museum of the Future in numbers
- 78 metres is the height of the museum
- 30,000 square metres is its total area
- 17,000 square metres is the length of the stainless steel facade
- 14 kilometres is the length of LED lights used on the facade
- 1,024 individual pieces make up the exterior
- 7 floors in all, with one for administrative offices
- 2,400 diagonally intersecting steel members frame the torus shape
- 100 species of trees and plants dot the gardens
- Dh145 is the price of a ticket
The President's Cake
Director: Hasan Hadi
Starring: Baneen Ahmad Nayyef, Waheed Thabet Khreibat, Sajad Mohamad Qasem
Rating: 4/5
UAE%20Warriors%2033%20Results
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SPECS
Toyota land Cruiser 2020 5.7L VXR
Engine: 5.7-litre V8
Transmission: eight-speed automatic
Power: 362hp
Torque: 530Nm
Price: Dh329,000 (base model 4.0L EXR Dh215,900)
Rafael Nadal's record at the MWTC
2009 Finalist
2010 Champion
Jan 2011 Champion
Dec 2011 Semi-finalist
Dec 2012 Did not play
Dec 2013 Semi-finalist
2015 Semi-finalist
Jan 2016 Champion
Dec 2016 Champion
2017 Did not play
The specs
Engine: four-litre V6 and 3.5-litre V6 twin-turbo
Transmission: six-speed and 10-speed
Power: 271 and 409 horsepower
Torque: 385 and 650Nm
Price: from Dh229,900 to Dh355,000
Sole survivors
- Cecelia Crocker was on board Northwest Airlines Flight 255 in 1987 when it crashed in Detroit, killing 154 people, including her parents and brother. The plane had hit a light pole on take off
- George Lamson Jr, from Minnesota, was on a Galaxy Airlines flight that crashed in Reno in 1985, killing 68 people. His entire seat was launched out of the plane
- Bahia Bakari, then 12, survived when a Yemenia Airways flight crashed near the Comoros in 2009, killing 152. She was found clinging to wreckage after floating in the ocean for 13 hours.
- Jim Polehinke was the co-pilot and sole survivor of a 2006 Comair flight that crashed in Lexington, Kentucky, killing 49.