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.
THE SPECS – Honda CR-V Touring AWD
Engine: 2.4-litre 4-cylinder
Power: 184hp at 6,400rpm
Torque: 244Nm at 3,900rpm
Transmission: Continuously Variable Transmission (CVT)
0-100kmh in 9.4 seconds
Top speed: 202kmh
Fuel consumption: 6.8L/100km
Price: From Dh122,900
The biog
Name: Mohammed Imtiaz
From: Gujranwala, Pakistan
Arrived in the UAE: 1976
Favourite clothes to make: Suit
Cost of a hand-made suit: From Dh550
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UAE currency: the story behind the money in your pockets
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Origin
Dan Brown
Doubleday
Timeline
2012-2015
The company offers payments/bribes to win key contracts in the Middle East
May 2017
The UK SFO officially opens investigation into Petrofac’s use of agents, corruption, and potential bribery to secure contracts
September 2021
Petrofac pleads guilty to seven counts of failing to prevent bribery under the UK Bribery Act
October 2021
Court fines Petrofac £77 million for bribery. Former executive receives a two-year suspended sentence
December 2024
Petrofac enters into comprehensive restructuring to strengthen the financial position of the group
May 2025
The High Court of England and Wales approves the company’s restructuring plan
July 2025
The Court of Appeal issues a judgment challenging parts of the restructuring plan
August 2025
Petrofac issues a business update to execute the restructuring and confirms it will appeal the Court of Appeal decision
October 2025
Petrofac loses a major TenneT offshore wind contract worth €13 billion. Holding company files for administration in the UK. Petrofac delisted from the London Stock Exchange
November 2025
180 Petrofac employees laid off in the UAE
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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 biog
Fast facts on Neil Armstrong’s personal life:
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COMPANY PROFILE
Company name: BorrowMe (BorrowMe.com)
Date started: August 2021
Founder: Nour Sabri
Based: Dubai, UAE
Sector: E-commerce / Marketplace
Size: Two employees
Funding stage: Seed investment
Initial investment: $200,000
Investors: Amr Manaa (director, PwC Middle East)
