• Diya Pardasani and her family rent a three-bedroom apartment in Oud Metha and pay Dh77,000. All photos: Antonie Robertson / The National
    Diya Pardasani and her family rent a three-bedroom apartment in Oud Metha and pay Dh77,000. All photos: Antonie Robertson / The National
  • The living room in Ms Pardasani's home
    The living room in Ms Pardasani's home
  • Ms Pardasani and her family have lived here since 2021
    Ms Pardasani and her family have lived here since 2021
  • The kitchen area in the apartment in the Oud Metha district
    The kitchen area in the apartment in the Oud Metha district
  • Ms Pardasani chose to live here because it was close to her daughter's school
    Ms Pardasani chose to live here because it was close to her daughter's school
  • The dining area in the home that Ms Pardasani shares with her husband and children
    The dining area in the home that Ms Pardasani shares with her husband and children
  • One of the three bedrooms in the apartment
    One of the three bedrooms in the apartment
  • The master bedroom in the apartment, which is close to the metro line in Dubai
    The master bedroom in the apartment, which is close to the metro line in Dubai
  • Ms Pardasani said the local community is always alive with lots of people
    Ms Pardasani said the local community is always alive with lots of people

My Dubai Rent: Family pay Dh77,000 for three-bed close to children's school


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  • 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

Diya Pardasani chose to live in a three-bedroom apartment in Dubai's Oud Metha district because she felt it offered great value, and more importantly, was close to her children's school.

The Indian, 47, said she struck lucky when she moved in because the rents were reduced during the Covid-19 pandemic, a far cry from the situation today when rent prices in Dubai are still rising.

She made the move from the family home in Ras Al Khor in 2021 and has not looked back since.

She invited The National in for a look around her home and to show our readers what makes it so special to her.

Why did you choose to live here?

We had been living in Ras Al Khor for five years but Oud Metha was closer to my children's school and there is great access with buses and the Dubai Metro line.

Whenever I would drop my daughter at school before we moved here, I would always say to myself how nice it would be to live close by.

We decided to take a look at moving to Oud Metha, it seemed like a good idea to move at the time because rents were pretty low due to the pandemic.

I came across this building and it was a three-and-a-half-minute walk to the school.

My son goes to a different branch of the same school, but he is able to take the metro, which stops right beside where he needs to go.

What do you get for your money?

There's a gym in the building but we are also really close to so many restaurants and cafes. There's always a restaurant open near by, even if it's in the middle of the night.

We are within walking distance of a big supermarket and a church too, so there's so much right beside us.

There's a constant flow of people around here so the area always feels really vibrant and alive, even late at night.

Do you feel you get value for what you are paying?

Yes. The first year we were here was fantastic value, then the rent went up by 10 per cent last year and we've now been told it will go up by another 15 per cent next year.

I'm starting to look at the cost more than the benefits as the rent keeps going up. However, when I consider how much more I would have to pay, in today's market, to move somewhere else of a similar size it doesn't seem so bad really.

There's also the fact I am so close to the school, so we are saving in some other ways as well.

Did you look at many other areas before deciding to opt for here?

I did look at quite a few. My priority was access to my children's school. We almost opted for another unit near Al Rigga as it seemed to tick all the boxes, especially with proximity to metro lines.

However, it was going to cost Dh100,000 at the time for three bedrooms, while this place was Dh70,000 and the same size. It wasn't hard to see what made more sense.

Is there anything you would change about where you live if you could?

The only real disadvantage is the traffic around here can get very heavy at times, especially during peak hours.

Otherwise, the advantages of living here far outweigh the disadvantages.

The years Ramadan fell in May

1987

1954

1921

1888

 

Company: Instabug

Founded: 2013

Based: Egypt, Cairo

Sector: IT

Employees: 100

Stage: Series A

Investors: Flat6Labs, Accel, Y Combinator and angel investors

Ten tax points to be aware of in 2026

1. Domestic VAT refund amendments: request your refund within five years

If a business does not apply for the refund on time, they lose their credit.

2. E-invoicing in the UAE

Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption. 

3. More tax audits

Tax authorities are increasingly using data already available across multiple filings to identify audit risks. 

4. More beneficial VAT and excise tax penalty regime

Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.

5. Greater emphasis on statutory audit

There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.

6. Further transfer pricing enforcement

Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes. 

7. Limited time periods for audits

Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion. 

8. Pillar 2 implementation 

Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.

9. Reduced compliance obligations for imported goods and services

Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations. 

10. Substance and CbC reporting focus

Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity. 

Contributed by Thomas Vanhee and Hend Rashwan, Aurifer

Classification of skills

A worker is categorised as skilled by the MOHRE based on nine levels given in the International Standard Classification of Occupations (ISCO) issued by the International Labour Organisation. 

A skilled worker would be someone at a professional level (levels 1 – 5) which includes managers, professionals, technicians and associate professionals, clerical support workers, and service and sales workers.

The worker must also have an attested educational certificate higher than secondary or an equivalent certification, and earn a monthly salary of at least Dh4,000. 

How to help

Call the hotline on 0502955999 or send "thenational" to the following numbers:

2289 - Dh10

2252 - Dh50

6025 - Dh20

6027 - Dh100

6026 - Dh200

MATCH RESULT

Al Jazira 3 Persepolis 2
Jazira:
Mabkhout (52'), Romarinho (77'), Al Hammadi (90' 6)
Persepolis: Alipour (42'), Mensha (84')

The Voice of Hind Rajab

Starring: Saja Kilani, Clara Khoury, Motaz Malhees

Director: Kaouther Ben Hania

Rating: 4/5

THE BIO

Bio Box

Role Model: Sheikh Zayed, God bless his soul

Favorite book: Zayed Biography of the leader

Favorite quote: To be or not to be, that is the question, from William Shakespeare's Hamlet

Favorite food: seafood

Favorite place to travel: Lebanon

Favorite movie: Braveheart

The low down

Producers: Uniglobe Entertainment & Vision Films

Director: Namrata Singh Gujral

Cast: Rajkummar Rao, Nargis Fakhri, Bo Derek, Candy Clark

Rating: 2/5

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.”

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MATCH INFO

Uefa Champions League semi-finals, first leg
Liverpool v Roma

When: April 24, 10.45pm kick-off (UAE)
Where: Anfield, Liverpool
Live: BeIN Sports HD
Second leg: May 2, Stadio Olimpico, Rome

Three trading apps to try

Sharad Nair recommends three investment apps for UAE residents:

  • For beginners or people who want to start investing with limited capital, Mr Nair suggests eToro. “The low fees and low minimum balance requirements make the platform more accessible,” he says. “The user interface is straightforward to understand and operate, while its social element may help ease beginners into the idea of investing money by looking to a virtual community.”
  • If you’re an experienced investor, and have $10,000 or more to invest, consider Saxo Bank. “Saxo Bank offers a more comprehensive trading platform with advanced features and insight for more experienced users. It offers a more personalised approach to opening and operating an account on their platform,” he says.
  • Finally, StashAway could work for those who want a hands-off approach to their investing. “It removes one of the biggest challenges for novice traders: picking the securities in their portfolio,” Mr Nair says. “A goal-based approach or view towards investing can help motivate residents who may usually shy away from investment platforms.”
How to help

Send “thenational” to the following numbers or call the hotline on: 0502955999
2289 – Dh10
2252 – Dh 50
6025 – Dh20
6027 – Dh 100
6026 – Dh 200

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Updated: July 24, 2023, 7:38 AM