• John Doringo’s community in Ghoroob, Mirdiff, Dubai. Photos: Ruel Pableo for The National
    John Doringo’s community in Ghoroob, Mirdiff, Dubai. Photos: Ruel Pableo for The National
  • Travel souvenirs at the Doringo residence.
    Travel souvenirs at the Doringo residence.
  • Family is a big theme in the living area of the Doringo home
    Family is a big theme in the living area of the Doringo home
  • Master bathroom at John Doringo’s residence in Ghoroob, Mirdiff, Dubai
    Master bathroom at John Doringo’s residence in Ghoroob, Mirdiff, Dubai
  • Ghoroob, Mirdiff, Dubai
    Ghoroob, Mirdiff, Dubai
  • John Doringo with wife Angie and children at their home in Ghoroob
    John Doringo with wife Angie and children at their home in Ghoroob
  • The kitchen area of the Doringo residence
    The kitchen area of the Doringo residence
  • John Doringo’s residence in Ghoroob, Mirdiff, Dubai
    John Doringo’s residence in Ghoroob, Mirdiff, Dubai
  • John Doringo’s residence in Ghoroob, Mirdiff, Dubai
    John Doringo’s residence in Ghoroob, Mirdiff, Dubai
  • John Doringo with his wife Angie and two children at their home in Ghoroob, Mirdiff, Dubai
    John Doringo with his wife Angie and two children at their home in Ghoroob, Mirdiff, Dubai
  • Master bedroom at the Doringo residence
    Master bedroom at the Doringo residence
  • The boys' room at the Doringo residence
    The boys' room at the Doringo residence
  • John Doringo’s community in Ghoroob, Mirdiff, Dubai
    John Doringo’s community in Ghoroob, Mirdiff, Dubai
  • John Doringo’s collection in Ghoroob, Mirdiff, Dubai
    John Doringo’s collection in Ghoroob, Mirdiff, Dubai

My Dubai Rent: Architect pays Dh64,000 for home he has lived in for 12 years


Patrick Ryan
  • English
  • Arabic

My Dubai Rent takes you inside a reader's home to have a look at what they get for their money, how much they pay in rent and asks them what they like and don't like

Moving home on a regular basis is part and parcel of life for many people who relocate to the UAE.

It is no exaggeration to say it would be rare to find someone who has stayed at the same property for as long as John Doringo from the Philippines.

The architect, 50, has lived with his family in a two-bedroom apartment at Ghoroob in Mirdif for the past 12 years and he currently pays slightly less than Dh64,000 ($16,248) for the privilege.

He invited The National into his home to show our readers why it is so special to him and his family.

Why did you choose to live here and not somewhere else?

There are several reasons. One of the most important factors is that is very close to the school my two sons go to.

It is right beside City Centre Mirdif mall, which is extremely convenient.

The community here is very family orientated, which is perfect as it creates a lovely atmosphere.

There is a brilliant play area for children, fantastic sports facilities with basketball and squash courts, a swimming pool, as well a gym.

Parking is really easy here too, which you don’t get in many parts of Dubai.

The buildings are in clusters, everything is really secure so you have that peace of mind.

We are a three-to-five-minute walk away from the mall, which is great if we don’t want to cook and go out to dinner.

There’s also a Carrefour supermarket in the community.

What touches have you made to your home to make it your own?

If anyone visits our home, they will see it’s decorated very much the way we like it.

There’s no theme, if you will, but there are pictures of family all over the walls.

We have put our personal touch on it, with my Star Wars action figures and my wife’s Lego all on display.

Do you ever see yourself moving out and living somewhere else?

No. That’s the honest answer. My oldest son is going to college soon and he will be studying near where we live, so that’s another reason for us to stay.

We are looking forward to remaining where we are until both of my sons graduate.

I can see us happily staying right here for at least another 10 years.

Where did you live before you moved here?

I have lived in the UAE for 23 years and before we moved to Ghoroob we were in Bur Dubai.

We moved here when my son first started going to school. It’s only a short journey to the school so that was our main consideration at the time.

We didn’t look at many places either, I think this was the second place we checked out.

As soon as we saw it we knew that we wanted to live here.

Is there anything you would change about your home if you could?

We have a huge balcony and during the summer it gets really hot, some more shade there would be lovely.

Having said that, during the winter it’s great. I guess this is a typical problem most people have in Dubai during the summer.

UEFA CHAMPIONS LEAGUE FIXTURES

All kick-off times 10.45pm UAE ( 4 GMT) unless stated

Tuesday
Sevilla v Maribor
Spartak Moscow v Liverpool
Manchester City v Shakhtar Donetsk
Napoli v Feyenoord
Besiktas v RB Leipzig
Monaco v Porto
Apoel Nicosia v Tottenham Hotspur
Borussia Dortmund v Real Madrid

Wednesday
Basel v Benfica
CSKA Moscow Manchester United
Paris Saint-Germain v Bayern Munich
Anderlecht v Celtic
Qarabag v Roma (8pm)
Atletico Madrid v Chelsea
Juventus v Olympiakos
Sporting Lisbon v Barcelona

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.”

Basquiat in Abu Dhabi

One of Basquiat’s paintings, the vibrant Cabra (1981–82), now hangs in Louvre Abu Dhabi temporarily, on loan from the Guggenheim Abu Dhabi. 

The latter museum is not open physically, but has assembled a collection and puts together a series of events called Talking Art, such as this discussion, moderated by writer Chaedria LaBouvier. 

It's something of a Basquiat season in Abu Dhabi at the moment. Last week, The Radiant Child, a documentary on Basquiat was shown at Manarat Al Saadiyat, and tonight (April 18) the Guggenheim Abu Dhabi is throwing the re-creation of a party tonight, of the legendary Canal Zone party thrown in 1979, which epitomised the collaborative scene of the time. It was at Canal Zone that Basquiat met prominent members of the art world and moved from unknown graffiti artist into someone in the spotlight.  

“We’ve invited local resident arists, we’ll have spray cans at the ready,” says curator Maisa Al Qassemi of the Guggenheim Abu Dhabi. 

Guggenheim Abu Dhabi's Canal Zone Remix is at Manarat Al Saadiyat, Thursday April 18, from 8pm. Free entry to all. Basquiat's Cabra is on view at Louvre Abu Dhabi until October

Groom and Two Brides

Director: Elie Semaan

Starring: Abdullah Boushehri, Laila Abdallah, Lulwa Almulla

Rating: 3/5

The%20specs
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What is a robo-adviser?

Robo-advisers use an online sign-up process to gauge an investor’s risk tolerance by feeding information such as their age, income, saving goals and investment history into an algorithm, which then assigns them an investment portfolio, ranging from more conservative to higher risk ones.

These portfolios are made up of exchange traded funds (ETFs) with exposure to indices such as US and global equities, fixed-income products like bonds, though exposure to real estate, commodity ETFs or gold is also possible.

Investing in ETFs allows robo-advisers to offer fees far lower than traditional investments, such as actively managed mutual funds bought through a bank or broker. Investors can buy ETFs directly via a brokerage, but with robo-advisers they benefit from investment portfolios matched to their risk tolerance as well as being user friendly.

Many robo-advisers charge what are called wrap fees, meaning there are no additional fees such as subscription or withdrawal fees, success fees or fees for rebalancing.

Banthology: Stories from Unwanted Nations
Edited by Sarah Cleave, Comma Press

MATCH INFO

Osasuna 1 Real Madrid 4
Osasuna: García (14')
Real Madrid: Isco (33'), Ramos (38'), Vázquez (84'), Jovic (90' 2)

Persuasion
%3Cp%3E%3Cstrong%3EDirector%3A%20%3C%2Fstrong%3ECarrie%20Cracknell%C2%A0%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStars%3A%20%3C%2Fstrong%3EDakota%20Johnson%2C%20Cosmo%20Jarvis%2C%20Richard%20E%20Grant%2C%20Henry%20Golding%20and%20Nikki%20Amuka-Bird%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%201.5%2F5%3C%2Fp%3E%0A
Gulf Under 19s final

Dubai College A 50-12 Dubai College B

The specs: 2018 Nissan 370Z Nismo

The specs: 2018 Nissan 370Z Nismo
Price, base / as tested: Dh182,178
Engine: 3.7-litre V6
Power: 350hp @ 7,400rpm
Torque: 374Nm @ 5,200rpm
Transmission: Seven-speed automatic
​​​​​​​Fuel consumption, combined: 10.5L / 100km

Hunger and Fury: The Crisis of Democracy in the Balkans
Jasmin Mujanović, Hurst Publishers

Uefa Champions League last 16 draw

Juventus v Tottenham Hotspur

Basel v Manchester City

Sevilla v  Manchester United

Porto v Liverpool

Real Madrid v Paris Saint-Germain

Shakhtar Donetsk v Roma

Chelsea v Barcelona

Bayern Munich v Besiktas

Lexus LX700h specs

Engine: 3.4-litre twin-turbo V6 plus supplementary electric motor

Power: 464hp at 5,200rpm

Torque: 790Nm from 2,000-3,600rpm

Transmission: 10-speed auto

Fuel consumption: 11.7L/100km

On sale: Now

Price: From Dh590,000

Updated: March 26, 2023, 8:59 AM