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
Finance recruitment consultant Graham Halton relocated to Dubai from Ireland with his partner in September last year.
The couple, 26, were then among the first residents to occupy one of the apartments that initially housed multinational staff who worked in and around the pavilions of Expo 2020 Dubai.
The 2,273 apartments, ranging from studios to three bedrooms, are located within four clusters. Occupants began vacating after the six-month world fair closed on March 31 last year.
Units then became available to buy or lease with two-bedroom options costing from Dh80,000 per year, according to Property Finder.
Mr Halton and Emma Darcy, a content lead for an app, now rent a seventh-floor, one-bedroom home with parking in Expo Village Residences and they pay Dh60,000 a year.
Mr Halton took The National on a tour ...
Where did you live previously?
I stayed in Jumeirah Lakes Towers and Al Furjan on short-term lets. We were renting month-by-month because we were trying to find the right place.
In comparison, for price and quality, Expo Village surpassed these substantially.
The JLT building was an Airbnb. However, for a studio, it was almost twice the price to rent, compared to the one-bedroom apartments in Expo Village.
Why did you choose this area?
We heard about Expo when it was on and found the area online while doing research. We found that the price was extremely fair compared to other areas we were looking at.
I was looking to be close to the Dubai Metro, which is handy for work. Emma works remotely, so having a bright apartment that lets in a lot of daylight was a very important factor.
If she wants to work on the balcony to get some fresh air, she can do that.
We also have loads of facilities here, are able to go for evening walks through Expo, and we're just a 15-minute drive from Marina.
What kind of facilities do you have around you?
The gym and pool in our accommodation are amazing. The hours are reasonable, which means we can go to the gym or the pool before or after work.
Having a great barber downstairs for me, as well as a shop with everything you need, is also extremely handy.
We also have a pharmacy, all the basic necessities, and there's a restaurant down the road.
Now it's starting to cool down, we go for walks and runs inside Expo itself.
What advantages are there to living here?
The Dubai Metro.
I use it to get to work at Dubai World Trade Centre and back every day and it is extremely convenient being within walking distance.
It guarantees travel time to work, so I don't have to worry about traffic or road works.
If you have to commute between Dubai and Abu Dhabi, Expo Village is the perfect place as it gives you direct access to the motorway, knocking 30 minutes off your journey compared to if you were living in Downtown.
I have to go to Abu Dhabi maybe once or twice a week.
The facilities are great, brand new and the area has a very clean environment.
Is it a sociable neighbourhood?
To be honest, I have not done much socialising outside of brief conversations down at the pool or in the gym.
It was quite quiet when we moved in but it's definitely busier now. They have an Expo page and group chat so if anyone has any questions we can help each other out.
Have you personalised the apartment?
It came partly furnished with a fridge, a washing machine, dining table, a bed and lamps. We just had to get a few bits and bobs, like cutlery and bedding.
We haven't done much personalisation either. We're quite straightforward people. As long as everything is neat and tidy we don't really make our place very homely.
We did add an outdoor table set. It is nice to sit out in the evening, to read a book and have a cup of coffee.
Anything you would like to alter?
There is not a single thing I would change in the apartment.
The layout is spacious, with lots of sunlight getting in during the day.
The living area is spacious, as well as plenty of wardrobe space for storage.
Do you think living here offers value?
One hundred per cent. Comparing prices in other areas, I think that Expo Village gives the best value for money.
We have just renewed our lease for next year and we are planning on staying here for the foreseeable future.
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
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Engine: 2-litre TSI petrol
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Price: From Dh147,000
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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.”
The specs
- Engine: 3.9-litre twin-turbo V8
- Power: 640hp
- Torque: 760nm
- On sale: 2026
- Price: Not announced yet
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MATCH INFO
Uefa Champions League semi-final, first leg
Tottenham 0-1 Ajax, Tuesday
Second leg
Ajax v Tottenham, Wednesday, May 8, 11pm
Game is on BeIN Sports
'Shakuntala Devi'
Starring: Vidya Balan, Sanya Malhotra
Director: Anu Menon
Rating: Three out of five stars
