Low-income families and bachelors in Abu Dhabi will have access to cheaper monthly rents under an initiative from Abu Dhabi Municipality announced on Saturday.
The Department of Municipal Affairs and Transport said the scheme will provide high-quality and affordable accommodations for low-income groups at rents ranging from Dh917 to Dh1,563 per month.
The initiative also offers an investment opportunity for commercial property developers in the city to construct new buildings or convert their existing properties into residential units for low-income residents.
“This initiative aims to provide proper and legal options of residential units befitting the financial means of low-income individuals and at the same time open an investment opportunity to owners of commercial properties in Abu Dhabi Emirate.
The initiative is in line with the vision of Abu Dhabi Government aimed to provide all means of decent and stable living for all spectrums of the community. It will also offer support to fixed income groups by availing them accommodation at affordable rents that commensurate with their annual income levels,” said Musabbah Al Murar, Acting General Manager of Abu Dhabi City Municipality.
The housing scheme is expected to eliminate congested bachelors’ accommodation with ADM targeting two categories of occupants.
The first is low-income segment earning a monthly income of Dh4,000 to Dh6,000 whose rents will range between Dh1,400 and Dh2,100 per month.
The second category is bachelors with fixed incomes. Those earning Dh2,00 to Dh4,000 a month will pay rents from Dh700 to Dh1,400 per month.
The rental value is calculated at a rate not exceeding 35 per cent of the individual’s total income; with consideration given to the number of occupants, according to statement from ADM.
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Infiniti QX80 specs
Engine: twin-turbocharged 3.5-liter V6
Power: 450hp
Torque: 700Nm
Price: From Dh450,000, Autograph model from Dh510,000
Available: Now
Barings Bank
Barings, one of Britain’s oldest investment banks, was
founded in 1762 and operated for 233 years before it went bust after a trading
scandal.
Barings Bank collapsed in February 1995 following colossal
losses caused by rogue trader Nick Lesson.
Leeson gambled more than $1 billion in speculative trades,
wiping out the venerable merchant bank’s cash reserves.
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Recipe
Garlicky shrimp in olive oil
Gambas Al Ajillo
Preparation time: 5 to 10 minutes
Cooking time: 5 minutes
Serves 4
Ingredients
180ml extra virgin olive oil; 4 to 5 large cloves of garlic, minced or pureed (or 3 to 4 garlic scapes, roughly chopped); 1 or 2 small hot red chillies, dried (or ¼ teaspoon dried red chilli flakes); 400g raw prawns, deveined, heads removed and tails left intact; a generous splash of sweet chilli vinegar; sea salt flakes for seasoning; a small handful of fresh flat-leaf parsley, roughly chopped
Method
▶ Heat the oil in a terracotta dish or frying pan. Once the oil is sizzling hot, add the garlic and chilli, stirring continuously for about 10 seconds until golden and aromatic.
▶ Add a splash of sweet chilli vinegar and as it vigorously simmers, releasing perfumed aromas, add the prawns and cook, stirring a few times.
▶ Once the prawns turn pink, after 1 or 2 minutes of cooking, remove from the heat and season with sea salt flakes.
▶ Once the prawns are cool enough to eat, scatter with parsley and serve with small forks or toothpicks as the perfect sharing starter. Finish off with crusty bread to soak up all that flavour-infused olive oil.
Business Insights
- As per the document, there are six filing options, including choosing to report on a realisation basis and transitional rules for pre-tax period gains or losses.
- SMEs with revenue below Dh3 million per annum can opt for transitional relief until 2026, treating them as having no taxable income.
- Larger entities have specific provisions for asset and liability movements, business restructuring, and handling foreign permanent establishments.
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The specs
Engine: Four electric motors, one at each wheel
Power: 579hp
Torque: 859Nm
Transmission: Single-speed automatic
Price: From Dh825,900
On sale: Now
WISH
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How to volunteer
The UAE volunteers campaign can be reached at www.volunteers.ae , or by calling 800-VOLAE (80086523), or emailing info@volunteers.ae.
Company profile
Name: Infinite8
Based: Dubai
Launch year: 2017
Number of employees: 90
Sector: Online gaming industry
Funding: $1.2m from a UAE angel investor
Mohammed bin Zayed Majlis
UPI facts
More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions
The specs
Engine: 3.0-litre six-cylinder turbo
Power: 398hp from 5,250rpm
Torque: 580Nm at 1,900-4,800rpm
Transmission: Eight-speed auto
Fuel economy, combined: 6.5L/100km
On sale: December
Price: From Dh330,000 (estimate)
