My Own Home takes you inside a reader-owned property to ask how much they paid, why they decided to buy and what they have done with it since moving in
Architect and interior designer Jorge Rangel bought his off-plan, one-bedroom apartment in Jumeirah Village Circle after renting in Dubai for seven years.
Mr Rangel, 61, from Spain, snapped up the apartment for Dh600,000 in 2020, intending to transform the “blank canvas” into a live-in showroom.
Now, two years after he moved in, the apartment is worth more than Dh1million and is unique to the building, with its formerly whitewashed walls transformed by stylish mirrors, mosaic tiles and modern art.
Here, Mr Rangel invites The National inside to admire his handiwork.
Please tell us about your home
I bought my one-bedroom JVC apartment for Dh600,000. I've recently been offered more than Dh1 million for it, but I don't want to sell.
I bought it off-plan and when I first came to see the mock-up, I really liked the neutral finishes. It was like a blank canvas that was perfect for me to redesign.
I ended up changing everything except the flooring. I love the floor-to-ceiling windows, they fill the apartment with natural light, which is very important to me.
What made you buy your own property?
I’ve been in Dubai for nine years and rented for the first seven. As contracts are usually limited to a year in Dubai, I felt like there was no security.
Every year the rental price seemed to go up and it just felt like a drain on my pocket.
Even if you stay in a property for 10 years, you have nothing to show at the end of it. At least if you own the property, you’re investing in an asset. You need somewhere to live either way.
I’d been renting in the area for five years and I was in a position to buy so I decided to go for it.
Why did you choose this area?
JVC is very convenient for me because most of my work is in the surrounding areas like Dubai Marina or Jumeirah Beach Residence.
The area itself is also booming. We have five-star hotels and lots of restaurants, so if you want to go for a meal or a drink there’s no need to go to the marina or anywhere else. Your social life is not limited here.
We also have a mall in the neighbourhood and a petrol station.
Most importantly, we have a lot of greenery, which can’t be said for some neighbourhoods in Dubai. There are a lot of small gardens and big boulevards full of trees and spaces to walk.
It’s very beautiful and one of the main reasons I chose to live here.
How did you discover this home?
I'm an architect so it's part of my job to find properties for my clients. When I hear about a new development or something unique in this area, it’s my duty to check it out.
When I saw the plans for this building, I felt it suited me and what I was looking for. Most importantly, it had plenty of natural light and a neutral design.
The new developments in JVC are very modern and contemporary with lots of working space, as well as facilities that enhance the value of the property and the quality of the neighbourhood.
How did you find the purchasing process?
I spent almost two months negotiating a payment plan from the developer before we agreed on the terms and conditions. After that, everything was smooth and straightforward.
Once the building was ready, we did the handover after about two weeks so it was pretty fast, mostly because I was going to change most of the features anyway so finishings weren’t a concern.
After that, I spent about two months on the renovations before I was ready to move in.
What upgrades have you carried out?
I changed the ceilings throughout because they were covered in aluminium tiles which I found disgusting. The lighting was also really harsh, so I replaced all of the fixtures.
In the guest bathroom, I changed everything and in the master bathroom, I replaced the shower area and redid all the tiling.
In the master bedroom, I added cladding with mirrors to the walls and in the kitchen. I installed a bar. I even changed the light switches to touch control. It was a full makeover.
I had planned to spend Dh50,000 on renovations but to be honest, I lost control. I just stopped counting after we went over that amount.
I also use it as a showroom for potential clients. I love to show off the before and after pictures. It’s quite a transformation.
What are the disadvantages of living in JVC?
The only issue that I found living here is the access, which is only possible by Hessa Street.
Traffic can be quite bad but there are plans under way to open up the roads that link JVC to Dubai Marina and JBR.
It’s a massive job, so it’s not going to be completed any time soon, but they are working on it and it’s great news for the future.
Will you stay in this property?
We never know what’s going to happen in the future, but I have no intentions of leaving Dubai.
I’m very happy here and I have a very comfortable life in my apartment.
Europe wide
Some of French groups are threatening Friday to continue their journey to Brussels, the capital of Belgium and the European Union, and to meet up with drivers from other countries on Monday.
Belgian authorities joined French police in banning the threatened blockade. A similar lorry cavalcade was planned for Friday in Vienna but cancelled after authorities prohibited it.
UAE currency: the story behind the money in your pockets
What vitamins do we know are beneficial for living in the UAE
Vitamin D: Highly relevant in the UAE due to limited sun exposure; supports bone health, immunity and mood.
Vitamin B12: Important for nerve health and energy production, especially for vegetarians, vegans and individuals with absorption issues.
Iron: Useful only when deficiency or anaemia is confirmed; helps reduce fatigue and support immunity.
Omega-3 (EPA/DHA): Supports heart health and reduces inflammation, especially for those who consume little fish.
The%20specs
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The five pillars of Islam
1. Fasting
2. Prayer
3. Hajj
4. Shahada
5. Zakat
Milestones on the road to union
1970
October 26: Bahrain withdraws from a proposal to create a federation of nine with the seven Trucial States and Qatar.
December: Ahmed Al Suwaidi visits New York to discuss potential UN membership.
1971
March 1: Alex Douglas Hume, Conservative foreign secretary confirms that Britain will leave the Gulf and “strongly supports” the creation of a Union of Arab Emirates.
July 12: Historic meeting at which Sheikh Zayed and Sheikh Rashid make a binding agreement to create what will become the UAE.
July 18: It is announced that the UAE will be formed from six emirates, with a proposed constitution signed. RAK is not yet part of the agreement.
August 6: The fifth anniversary of Sheikh Zayed becoming Ruler of Abu Dhabi, with official celebrations deferred until later in the year.
August 15: Bahrain becomes independent.
September 3: Qatar becomes independent.
November 23-25: Meeting with Sheikh Zayed and Sheikh Rashid and senior British officials to fix December 2 as date of creation of the UAE.
November 29: At 5.30pm Iranian forces seize the Greater and Lesser Tunbs by force.
November 30: Despite a power sharing agreement, Tehran takes full control of Abu Musa.
November 31: UK officials visit all six participating Emirates to formally end the Trucial States treaties
December 2: 11am, Dubai. New Supreme Council formally elects Sheikh Zayed as President. Treaty of Friendship signed with the UK. 11.30am. Flag raising ceremony at Union House and Al Manhal Palace in Abu Dhabi witnessed by Sheikh Khalifa, then Crown Prince of Abu Dhabi.
December 6: Arab League formally admits the UAE. The first British Ambassador presents his credentials to Sheikh Zayed.
December 9: UAE joins the United Nations.
COMPANY%20PROFILE
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The Sky Is Pink
Director: Shonali Bose
Cast: Priyanka Chopra Jonas, Farhan Akhtar, Zaira Wasim, Rohit Saraf
Three stars
UAE currency: the story behind the money in your pockets
Honeymoonish
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Killing of Qassem Suleimani
World Cup warm up matches
May 24 Pakistan v Afghanistan, Bristol; Sri Lanka v South Africa, Cardiff
May 25 England v Australia, Southampton; India v New Zealand, The Oval
May 26 South Africa v West Indies, Bristol; Pakistan v Bangladesh, Cardiff
May 27 Australia v Sri Lanka, Southampton; England v Afghanistan, The Oval
May 28 West Indies v New Zealand, Bristol; Bangladesh v India, Cardiff
BACK%20TO%20ALEXANDRIA
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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.”
Tamkeen's offering
- Option 1: 70% in year 1, 50% in year 2, 30% in year 3
- Option 2: 50% across three years
- Option 3: 30% across five years
In numbers
1,000 tonnes of waste collected daily:
- 800 tonnes converted into alternative fuel
- 150 tonnes to landfill
- 50 tonnes sold as scrap metal
800 tonnes of RDF replaces 500 tonnes of coal
Two conveyor lines treat more than 350,000 tonnes of waste per year
25 staff on site
Sarfira
Director: Sudha Kongara Prasad
Starring: Akshay Kumar, Radhika Madan, Paresh Rawal
Rating: 2/5
The biog
Name: Abeer Al Shahi
Emirate: Sharjah – Khor Fakkan
Education: Master’s degree in special education, preparing for a PhD in philosophy.
Favourite activities: Bungee jumping
Favourite quote: “My people and I will not settle for anything less than first place” – Sheikh Mohammed bin Rashid.
Married Malala
Malala Yousafzai is enjoying married life, her father said.
The 24-year-old married Pakistan cricket executive Asser Malik last year in a small ceremony in the UK.
Ziauddin Yousafzai told The National his daughter was ‘very happy’ with her husband.
The specs: Macan Turbo
Engine: Dual synchronous electric motors
Power: 639hp
Torque: 1,130Nm
Transmission: Single-speed automatic
Touring range: 591km
Price: From Dh412,500
On sale: Deliveries start in October
'How To Build A Boat'
Jonathan Gornall, Simon & Schuster
Racecard
6.35pm: The Madjani Stakes – Group 2 (PA) Dh97,500 (Dirt) 1,900m
7.10pm: Evidenza – Handicap (TB) Dh87,500 (D) 1,200m
7.45pm: The Longines Conquest – Maiden (TB) Dh82,500 (D) 2,000m
8.20: The Longines Elegant – Conditions (TB) Dh82,500 (D)
8.35pm: The Dubai Creek Mile – Listed (TB) Dh132,500 (D) 1,600m
9.30pm: Mirdif Stakes – Conditions (TB) Dh120,000 (D) 1,400m
10.05pm: The Longines Record – Handicap (TB) Dh87,500 (D) 1,900m
MO
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COMPANY%20PROFILE
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Countdown to Zero exhibition will show how disease can be beaten
Countdown to Zero: Defeating Disease, an international multimedia exhibition created by the American Museum of National History in collaboration with The Carter Center, will open in Abu Dhabi a month before Reaching the Last Mile.
Opening on October 15 and running until November 15, the free exhibition opens at The Galleria mall on Al Maryah Island, and has already been seen at the Jimmy Carter Presidential Library and Museum in Atlanta, the American Museum of Natural History in New York, and the London School of Hygiene and Tropical Medicine.
FIXTURES
Monday, January 28
Iran v Japan, Hazza bin Zayed Stadium (6pm)
Tuesday, January 29
UAEv Qatar, Mohamed Bin Zayed Stadium (6pm)
Friday, February 1
Final, Zayed Sports City Stadium (6pm)
T20 World Cup Qualifier
October 18 – November 2
Opening fixtures
Friday, October 18
ICC Academy: 10am, Scotland v Singapore, 2.10pm, Netherlands v Kenya
Zayed Cricket Stadium: 2.10pm, Hong Kong v Ireland, 7.30pm, Oman v UAE
UAE squad
Ahmed Raza (captain), Rohan Mustafa, Ashfaq Ahmed, Rameez Shahzad, Darius D’Silva, Mohammed Usman, Mohammed Boota, Zawar Farid, Ghulam Shabber, Junaid Siddique, Sultan Ahmed, Imran Haider, Waheed Ahmed, Chirag Suri, Zahoor Khan
Players out: Mohammed Naveed, Shaiman Anwar, Qadeer Ahmed
Players in: Junaid Siddique, Darius D’Silva, Waheed Ahmed
