• View of a 5-bedroom villa at Damac Hills in Dubai. Photo by: Pawan Singh / The National
    View of a 5-bedroom villa at Damac Hills in Dubai. Photo by: Pawan Singh / The National
  • Inside a studio apartment at Hive, a new co-living apartment block in JVC, Dubai. Tenants do not have to pay a penalty if they leave a rental agreement early. Photo by Antonie Robertson / The National
    Inside a studio apartment at Hive, a new co-living apartment block in JVC, Dubai. Tenants do not have to pay a penalty if they leave a rental agreement early. Photo by Antonie Robertson / The National
  • Expo Village is a new residential area in Dubai that is set to open to tenants in a few months with competitive rental prices. Photo by Chris Whiteoak / The National
    Expo Village is a new residential area in Dubai that is set to open to tenants in a few months with competitive rental prices. Photo by Chris Whiteoak / The National
  • Exterior view of the Auris Al Marsa Hotel apartments in Dubai Marina in Dubai. Photo by Pawan Singh / The National
    Exterior view of the Auris Al Marsa Hotel apartments in Dubai Marina in Dubai. Photo by Pawan Singh / The National
  • Hafla park in Jumeirah Village Circle, Dubai. Photo by Antonie Robertson / The National
    Hafla park in Jumeirah Village Circle, Dubai. Photo by Antonie Robertson / The National
  • View of the outside sitting area inside a 5-bedroom villa in Damac Hills, Dubai. Photo by Pawan Singh / The National
    View of the outside sitting area inside a 5-bedroom villa in Damac Hills, Dubai. Photo by Pawan Singh / The National
  • Communal swimming pool at Expo Village in Dubai. Photo by Chris Whiteoak / The National
    Communal swimming pool at Expo Village in Dubai. Photo by Chris Whiteoak / The National

Moving to Dubai: a rental guide to suit every budget


Kelly Clarke
  • English
  • Arabic

Moving to a new country can be a daunting prospect, but it can also allow you to explore a different way of living and unleash the wanderlust from within.

Finding the right home is an important step.

The right accommodation can be the difference between making you feel settled or homesick.

As one of the top cities for expatriates, Dubai has an abundance of accommodation, from short-term fixes to long-term solutions.

If high-rise living and modern architecture is your taste, Dubai Marina and Downtown Dubai offer a good mix of apartments.

For those who prefer something with a bit more character, areas such as Satwa, Deira and Bur Dubai have a host of villas and flats to choose from – and often at far lower prices than the rest of the city.

Here, The National has put together a guide on house-hunting in Dubai.

Dubai apartment sale prices April 2022 - in pictures

  • APARTMENT PRICES: Downtown Dubai rose by 3 per cent month-on-month in March to Dh2,021 per square foot. Reuters
    APARTMENT PRICES: Downtown Dubai rose by 3 per cent month-on-month in March to Dh2,021 per square foot. Reuters
  • Jumeirah: Dh1,905 per square foot — down 0.2 per cent a month. The National
    Jumeirah: Dh1,905 per square foot — down 0.2 per cent a month. The National
  • The Palm Jumeirah: Dh1,843 per square foot — up 3 per cent a month. Antonie Robertson / The National
    The Palm Jumeirah: Dh1,843 per square foot — up 3 per cent a month. Antonie Robertson / The National
  • DIFC: Dh1,627 per square foot — up 2.4 per cent a month. Jeff Topping / The National
    DIFC: Dh1,627 per square foot — up 2.4 per cent a month. Jeff Topping / The National
  • Jumeirah Beach Residence: Dh1,500 per square foot — down 0.6 per cent a month. Photo: LuxuryProperty.com
    Jumeirah Beach Residence: Dh1,500 per square foot — down 0.6 per cent a month. Photo: LuxuryProperty.com
  • Mohammed bin Rashid City: Dh1,472 per square foot — up 2.6 per cent a month. Satish Kumar / The National
    Mohammed bin Rashid City: Dh1,472 per square foot — up 2.6 per cent a month. Satish Kumar / The National
  • Business Bay: Dh1,476 per square foot — up 3.9 per cent a month. Sarah Dea / The National
    Business Bay: Dh1,476 per square foot — up 3.9 per cent a month. Sarah Dea / The National
  • Dubai Hills: Dh1,444 per square foot — up 2.1 per cent a month. Photo: Emaar Malls Management
    Dubai Hills: Dh1,444 per square foot — up 2.1 per cent a month. Photo: Emaar Malls Management
  • Dubai Marina: Dh1,376 per square foot — down 1.1 per cent a month. Victor Besa / The National
    Dubai Marina: Dh1,376 per square foot — down 1.1 per cent a month. Victor Besa / The National
  • The Greens and The Views: Dh1,103 per square foot — up 1.7 per cent a month. Sarah Dea / The National
    The Greens and The Views: Dh1,103 per square foot — up 1.7 per cent a month. Sarah Dea / The National
  • Jumeirah Lakes Towers: Dh994 per square foot — down 0.4 per cent a month. Antonie Robertson / The National
    Jumeirah Lakes Towers: Dh994 per square foot — down 0.4 per cent a month. Antonie Robertson / The National
  • Damac Hills: Dh985 per square foot — up 2 per cent a month. Pawan Singh / The National
    Damac Hills: Dh985 per square foot — up 2 per cent a month. Pawan Singh / The National
  • Jumeirah Village Circle: Dh895 per square foot — up 1.2 per cent a month. Razan Alzayani / The National
    Jumeirah Village Circle: Dh895 per square foot — up 1.2 per cent a month. Razan Alzayani / The National
  • Town Square: Dh875 per square foot — up 1.1 per cent a month.
    Town Square: Dh875 per square foot — up 1.1 per cent a month.
  • Motor City: Dh669 per square foot — up 2.8 per cent a month.
    Motor City: Dh669 per square foot — up 2.8 per cent a month.
  • Dubai Silicon Oasis: Dh602 per square foot — down 2.6 per cent a month. Chris Whiteoak / The National
    Dubai Silicon Oasis: Dh602 per square foot — down 2.6 per cent a month. Chris Whiteoak / The National
  • Dubai Sports City: Dh618 per square foot — up 4.5 per cent a month. Reem Mohammed / The National
    Dubai Sports City: Dh618 per square foot — up 4.5 per cent a month. Reem Mohammed / The National
  • Discovery Gardens: Dh535 per square foot — down 1.6 per cent a month. Pawan Singh / The National
    Discovery Gardens: Dh535 per square foot — down 1.6 per cent a month. Pawan Singh / The National
  • International City: Dh442 per square foot — no change. Antonie Robertson / The National
    International City: Dh442 per square foot — no change. Antonie Robertson / The National

Serviced hotel apartments

When relocating to Dubai, you may want to rent a short-term serviced apartment to set up base and get a feel for the city.

It offers the comforts of home, in a hotel setting, without the extravagant price.

Newcomers can spend more time scoping out what area best suits their lifestyle before committing to somewhere long-term.

To rent, newcomers only need a passport. This is helpful for those who are still waiting for their residence visa to be processed, which can take several weeks.

In Dubai, serviced apartments come with amenities such as a swimming pool, gym and 24-hour security.

They usually have a small kitchenette and all bills are included, including Wi-Fi. Guests can pay a monthly rate, or if their cash flow allows, a few months up front, which often invites a discount.

While the monthly price tag is a little more than what you would expect to pay for a long-term lease, it is a good option for those starting out. Below is a small list of options available.

Name: First Central Hotel Suites Where: Barsha Heights Accommodation: Classic studio (up to two adults) Price: Dh6,289 (including taxes) for 30 nights

Name: Savoy Crest Hotel Apartments Where: Bur Dubai Accommodation: Studio suite (up to two adults) Price: Dh7,450 (including taxes) for 30 nights

Name: City Premiere Hotel Apartments Where: Business Bay Accommodation: Premiere one-bedroom apartment (up to two adults) Price: Dh15,596 (including taxes) for 30 nights

Name: Ramada Hotel and Suites by Wyndham Dubai Where: Jumeirah Beach Residence Accommodation: One-bedroom apartment with breakfast (up to two adults) Price: Dh24,684 (including taxes) for 30 nights Source: Prices from April 28 to May 28, 2022, via individual property's website

On a budget? Go for shared accommodation

Vishal Shahid, from Pakistan, at his shared flat in Bur Dubai. Pawan Singh / The National
Vishal Shahid, from Pakistan, at his shared flat in Bur Dubai. Pawan Singh / The National

Newcomers looking for affordable places can move into shared housing but this requires a lot of research – and vigilance.

In Dubai, sub-letting or sharing a rented flat without obtaining the landlord's permission is illegal.

If the main tenant sub-lets an apartment without prior approval, tenants and sub-tenants can be evicted.

As a sub-tenant you may be asked to pay each month’s rent in advance or several months’ rent up front. Payment will be made to either the main tenant or landlord.

Legal experts advise that even as a sub-tenant, you should ask for documentary evidence as to who the legal owner of the property is, such as a title deed. Tenancy contracts can be updated with a sub-tenancy clause, so ask to see this in writing.

The more informal the rental arrangement, the more suspicious you should be

Sub tenancies are always more vulnerable to misuse and therefore it is generally advised that you either get the landlord or main tenant to formalise the sub-tenancy in writing.

The more informal the arrangement, the more suspicious you should be. If they refuse to proceed with formalities, you need to ask yourself why.

In 2020, the UAE relaxed its stance on the illegalities towards flat sharing but people should familiarise themselves and comply with local laws.

Depending on where you choose to stay in the city, sharing accommodation can be a great way to save on rent. The total monthly cost usually includes all bills (double check this when agreeing to live somewhere) and rooms are almost always furnished.

Rent can start from as little as Dh400 per month for a room share, but can reach into the thousands if you choose to share a whole apartment with your own private room.

Long-term rent: villa or apartment?

  • 1. Arabian Ranches is a mature villa community with a wide range of facilities for children, including a communal pools, tennis courts and picnic spots. The National
    1. Arabian Ranches is a mature villa community with a wide range of facilities for children, including a communal pools, tennis courts and picnic spots. The National
  • 2. The Dubai Hills Estate is a brand new villa community centred around a golf course. It is close to the centre of town and local schools, and will soon be home to massive new mall with 650 shops and restaurants. Victor Besa / The National
    2. The Dubai Hills Estate is a brand new villa community centred around a golf course. It is close to the centre of town and local schools, and will soon be home to massive new mall with 650 shops and restaurants. Victor Besa / The National
  • 3. Villas on the Palm Jumeirah are close to one of Dubai's biggest attractions - Atlantis Hotel, plus the Aquaventure Waterpark. Getty
    3. Villas on the Palm Jumeirah are close to one of Dubai's biggest attractions - Atlantis Hotel, plus the Aquaventure Waterpark. Getty
  • 4. The Springs is a leafy community ideal for families with young children, who want a villa with a garden. Jeff Topping / The National
    4. The Springs is a leafy community ideal for families with young children, who want a villa with a garden. Jeff Topping / The National
  • 5. Umm Suqeim is a great place to bring up children, thanks to its seaside location, local schools and skatepark. Pawan Singh / The National
    5. Umm Suqeim is a great place to bring up children, thanks to its seaside location, local schools and skatepark. Pawan Singh / The National

For many who plan on staying in Dubai for the foreseeable future, renting an apartment or villa on a long-term basis is a good option.

With a good property agent in tow and plenty of research, long-term rentals can be secured and moved into fairly quickly with the right documentation.

To prepare a tenancy contract you will need:

  • valid passport copy
  • residence visa copy
  • Emirates ID copy
  • cheque book and valid bank account

To secure a property, residents will need to put down a security deposit cheque and agency fee, each of which are typically five per cent of the annual rent.

In the UAE, rental contracts are valid for 12 months and are hard to break if someone wants to vacate the property early.

Landlords charge a penalty fine for early termination, which is often two month’s rent, with a 60-day notice of departure.

Housing laws protect the landlord and tenant, so if your landlord wants to break the lease early, you will also be protected.

In most cases, before moving into your new pad you will hand over a year’s worth of pre-dated cheques to the agent. Depending on the agreement, you can pay your annual rent in one cheque or anything up to 12 cheques.

Registering your property as a new tenant

The next step is setting up your Ejari, which translates from Arabic to ‘my rent’.

The Ejari system is a contract registration platform administered by Dubai Land Department to authenticate rental contracts and agreements between tenants and landlords.

It can be set up at a typing centre for Dh220. To register your tenancy contract with Ejari you need:

  • original signed tenancy contract (by tenant and landlord)
  • confirmation of payment of security deposit and rent cheques
  • copy of title deed (obtained from landlord)
  • passport copy
  • residence visa copy
  • Emirates ID copy
  • passport copy of landlord
  • if the landlord resides overseas, the contract can be signed under Power of Attorney. In this case, you will require a copy of the valid POA and a passport copy of the POA
  • Nine-digit Dewa Premises Number
  • Dh220 Ejari registration fee at typing centre

Once your Ejari has been registered, you will get a notification to set up your water and electricity account, also known as Dewa.

Once received, you will need to download the Dewa Smart App and follow the prompts to apply for a new connection.

Provide your Ejari contract number, Emirates ID and passport copy, then make a payment of the refundable Dewa deposit amount (Dh2,000 for apartment, Dh4,000 for villa) and non-refundable connection fee (between Dh110 to Dh300).

In some areas you may have to set up your own air conditioning. In Dubai, Emicool and Empower are the main providers for this.

To connect your district cooling services you will need to apply online or in person at one of the customer centres and provide a copy of:

  • Signed tenancy contract
  • Passport
  • Emirates ID
  • Signed registration forms
  • Refundable security deposit (approximately Dh1,700 for apartment, Dh 3,000 for villa)

Popular residential areas in Dubai - in pictures

  • A villa in Mohammed Bin Rashid City, which accounted for 18.5 per cent of all Dubai villa sales in April 2021, according to Property Finder. Photo: Satish Kumar / The National
    A villa in Mohammed Bin Rashid City, which accounted for 18.5 per cent of all Dubai villa sales in April 2021, according to Property Finder. Photo: Satish Kumar / The National
  • A five-bedroom villa in The Villa community in Dubailand, which accounted for 10.3 per cent of all villa sales in Dubai in April. Photo: Courtesy Luxhabitat
    A five-bedroom villa in The Villa community in Dubailand, which accounted for 10.3 per cent of all villa sales in Dubai in April. Photo: Courtesy Luxhabitat
  • Emaar's Dubai Hills Estate registered 9.4 per cent of all villa sales in Dubai in April 2021. Photo: Reem Mohammed / The National
    Emaar's Dubai Hills Estate registered 9.4 per cent of all villa sales in Dubai in April 2021. Photo: Reem Mohammed / The National
  • The Town Square project by Nshama was responsible for 4.9 per cent of all villa sales in Dubai in April, according to Property Finder. Photo: Courtesy Nshama
    The Town Square project by Nshama was responsible for 4.9 per cent of all villa sales in Dubai in April, according to Property Finder. Photo: Courtesy Nshama
  • Dubai Marina accounted for 8.5 per cent of all apartment sales transactions in the city in April 2021, as per Property Finder.
    Dubai Marina accounted for 8.5 per cent of all apartment sales transactions in the city in April 2021, as per Property Finder.
  • Nakheel's Jumeirah Village Circle accounted for 8.4 per cent of all apartment sales in Dubai in April 2021. Photo: Antonie Robertson / The National
    Nakheel's Jumeirah Village Circle accounted for 8.4 per cent of all apartment sales in Dubai in April 2021. Photo: Antonie Robertson / The National
  • Jumeirah Lakes Towers accounted for 7.6 per cent of apartment sales in Dubai in April 2021. Photo: Mona Al Marzooqi / The National
    Jumeirah Lakes Towers accounted for 7.6 per cent of apartment sales in Dubai in April 2021. Photo: Mona Al Marzooqi / The National
  • Downtown Dubai and Business Bay accounted for 7.3 per cent and 5.4 per cent of apartment sales in Dubai in April 2021. Photo: Chris Whiteoak / The National
    Downtown Dubai and Business Bay accounted for 7.3 per cent and 5.4 per cent of apartment sales in Dubai in April 2021. Photo: Chris Whiteoak / The National
The%20Witcher%20-%20season%20three
%3Cp%3E%3Cstrong%3EDirector%3A%20%3C%2Fstrong%3EVarious%0D%3Cbr%3E%3Cstrong%3E%0D%3Cbr%3EStars%3A%20%3C%2Fstrong%3EHenry%20Cavill%2C%20Freya%20Allan%2C%20Anya%20Chalotra%3Cstrong%3E%0D%3Cbr%3E%0D%3Cbr%3ERating%3A%3C%2Fstrong%3E%203%2F5%3C%2Fp%3E%0A

War

Director: Siddharth Anand

Cast: Hrithik Roshan, Tiger Shroff, Ashutosh Rana, Vaani Kapoor

Rating: Two out of five stars 

How Filipinos in the UAE invest

A recent survey of 10,000 Filipino expatriates in the UAE found that 82 per cent have plans to invest, primarily in property. This is significantly higher than the 2014 poll showing only two out of 10 Filipinos planned to invest.

Fifty-five percent said they plan to invest in property, according to the poll conducted by the New Perspective Media Group, organiser of the Philippine Property and Investment Exhibition. Acquiring a franchised business or starting up a small business was preferred by 25 per cent and 15 per cent said they will invest in mutual funds. The rest said they are keen to invest in insurance (3 per cent) and gold (2 per cent).

Of the 5,500 respondents who preferred property as their primary investment, 54 per cent said they plan to make the purchase within the next year. Manila was the top location, preferred by 53 per cent.

The specs
Engine: 3.6 V6

Transmission: 8-speed auto

Power: 295bhp

Torque: 353Nm

Price: Dh155,000

On sale: now 

World record transfers

1. Kylian Mbappe - to Real Madrid in 2017/18 - €180 million (Dh770.4m - if a deal goes through)
2. Paul Pogba - to Manchester United in 2016/17 - €105m
3. Gareth Bale - to Real Madrid in 2013/14 - €101m
4. Cristiano Ronaldo - to Real Madrid in 2009/10 - €94m
5. Gonzalo Higuain - to Juventus in 2016/17 - €90m
6. Neymar - to Barcelona in 2013/14 - €88.2m
7. Romelu Lukaku - to Manchester United in 2017/18 - €84.7m
8. Luis Suarez - to Barcelona in 2014/15 - €81.72m
9. Angel di Maria - to Manchester United in 2014/15 - €75m
10. James Rodriguez - to Real Madrid in 2014/15 - €75m

Mobile phone packages comparison
Blackpink World Tour [Born Pink] In Cinemas

Starring: Rose, Jisoo, Jennie, Lisa

Directors: Min Geun, Oh Yoon-Dong

Rating: 3/5

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%3Cp%3EEncourage%20innovation%20in%20the%20metaverse%20field%20and%20boost%20economic%20contribution%3C%2Fp%3E%0A%3Cp%3EDevelop%20outstanding%20talents%20through%20education%20and%20training%3C%2Fp%3E%0A%3Cp%3EDevelop%20applications%20and%20the%20way%20they%20are%20used%20in%20Dubai's%20government%20institutions%3C%2Fp%3E%0A%3Cp%3EAdopt%2C%20expand%20and%20promote%20secure%20platforms%20globally%3C%2Fp%3E%0A%3Cp%3EDevelop%20the%20infrastructure%20and%20regulations%3C%2Fp%3E%0A
WHAT%20MACRO%20FACTORS%20ARE%20IMPACTING%20META%20TECH%20MARKETS%3F
%3Cp%3E%E2%80%A2%20Looming%20global%20slowdown%20and%20recession%20in%20key%20economies%3C%2Fp%3E%0A%3Cp%3E%E2%80%A2%20Russia-Ukraine%20war%3C%2Fp%3E%0A%3Cp%3E%E2%80%A2%20Interest%20rate%20hikes%20and%20the%20rising%20cost%20of%20debt%20servicing%3C%2Fp%3E%0A%3Cp%3E%E2%80%A2%20Oil%20price%20volatility%3C%2Fp%3E%0A%3Cp%3E%E2%80%A2%20Persisting%20inflationary%20pressures%3C%2Fp%3E%0A%3Cp%3E%E2%80%A2%20Exchange%20rate%20fluctuations%3C%2Fp%3E%0A%3Cp%3E%E2%80%A2%20Shortage%20of%20labour%2Fskills%3C%2Fp%3E%0A%3Cp%3E%E2%80%A2%20A%20resurgence%20of%20Covid%3F%3C%2Fp%3E%0A

Innotech Profile

Date started: 2013

Founder/CEO: Othman Al Mandhari

Based: Muscat, Oman

Sector: Additive manufacturing, 3D printing technologies

Size: 15 full-time employees

Stage: Seed stage and seeking Series A round of financing 

Investors: Oman Technology Fund from 2017 to 2019, exited through an agreement with a new investor to secure new funding that it under negotiation right now. 

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

Results

2-15pm: Commercial Bank Of Dubai – Conditions (TB) Dh100,000 (Dirt) 1,400m; Winner: Al Habash, Patrick Cosgrave (jockey), Bhupat Seemar (trainer)

2.45pm: Al Shafar Investment – Handicap (TB) Dh80,000 (D) 1,200m; Winner: Day Approach, Ray Dawson, Ahmad bin Harmash

3.15pm: Dubai Real estate Centre – Handicap (TB) Dh80,000 (D) 1,600m; Winner: Celtic Prince, Richard Mullen, Rashed Bouresly

3.45pm: Jebel Ali Sprint by ARM Holding – Listed (TB) Dh500,000 (D) 1,000m; Winner: Khuzaam, Pat Dobbs, Doug Watson

4.15pm: Shadwell – Conditions (TB) Dh100,000 (D) 1,600m; Winner: Tenbury Wells, Royston Ffrench, Salem bin Ghadayer

4.45pm: Jebel Ali Stakes by ARM Holding – Listed (TB) Dh500,000 (D) 1,950m; Winner: Lost Eden, Andrea Atzeni, Doug Watson

5.15pm: Jebel Ali Racecourse – Handicap (TB) Dh76,000 (D) 1,950m; Winner: Rougher, Pat Dobbs, Doug Watson

Five famous companies founded by teens

There are numerous success stories of teen businesses that were created in college dorm rooms and other modest circumstances. Below are some of the most recognisable names in the industry:

  1. Facebook: Mark Zuckerberg and his friends started Facebook when he was a 19-year-old Harvard undergraduate. 
  2. Dell: When Michael Dell was an undergraduate student at Texas University in 1984, he started upgrading computers for profit. He starting working full-time on his business when he was 19. Eventually, his company became the Dell Computer Corporation and then Dell Inc. 
  3. Subway: Fred DeLuca opened the first Subway restaurant when he was 17. In 1965, Mr DeLuca needed extra money for college, so he decided to open his own business. Peter Buck, a family friend, lent him $1,000 and together, they opened Pete’s Super Submarines. A few years later, the company was rebranded and called Subway. 
  4. Mashable: In 2005, Pete Cashmore created Mashable in Scotland when he was a teenager. The site was then a technology blog. Over the next few decades, Mr Cashmore has turned Mashable into a global media company.
  5. Oculus VR: Palmer Luckey founded Oculus VR in June 2012, when he was 19. In August that year, Oculus launched its Kickstarter campaign and raised more than $1 million in three days. Facebook bought Oculus for $2 billion two years later.
COMPANY PROFILE
Name: ARDH Collective
Based: Dubai
Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
Sector: Sustainability
Total funding: Self funded
Number of employees: 4
Who's who in Yemen conflict

Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government

Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council

Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south

Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory

Top goalscorers in Europe

34 goals - Robert Lewandowski (68 points)

34 - Ciro Immobile (68)

31 - Cristiano Ronaldo (62)

28 - Timo Werner (56)

25 - Lionel Messi (50)

*29 - Erling Haaland (50)

23 - Romelu Lukaku (46)

23 - Jamie Vardy (46)

*NOTE: Haaland's goals for Salzburg count for 1.5 points per goal. Goals for Dortmund count for two points per goal.

Avatar: Fire and Ash

Director: James Cameron

Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana

Rating: 4.5/5

Company Profile

Name: Thndr
Started: 2019
Co-founders: Ahmad Hammouda and Seif Amr
Sector: FinTech
Headquarters: Egypt
UAE base: Hub71, Abu Dhabi
Current number of staff: More than 150
Funds raised: $22 million

First Person
Richard Flanagan
Chatto & Windus 

The five pillars of Islam

1. Fasting

2. Prayer

3. Hajj

4. Shahada

5. Zakat 

The bio

Academics: Phd in strategic management in University of Wales

Number one caps: His best-seller caps are in shades of grey, blue, black and yellow

Reading: Is immersed in books on colours to understand more about the usage of different shades

Sport: Started playing polo two years ago. Helps him relax, plus he enjoys the speed and focus

Cars: Loves exotic cars and currently drives a Bentley Bentayga

Holiday: Favourite travel destinations are London and St Tropez

Types of bank fraud

1) Phishing

Fraudsters send an unsolicited email that appears to be from a financial institution or online retailer. The hoax email requests that you provide sensitive information, often by clicking on to a link leading to a fake website.

2) Smishing

The SMS equivalent of phishing. Fraudsters falsify the telephone number through “text spoofing,” so that it appears to be a genuine text from the bank.

3) Vishing

The telephone equivalent of phishing and smishing. Fraudsters may pose as bank staff, police or government officials. They may persuade the consumer to transfer money or divulge personal information.

4) SIM swap

Fraudsters duplicate the SIM of your mobile number without your knowledge or authorisation, allowing them to conduct financial transactions with your bank.

5) Identity theft

Someone illegally obtains your confidential information, through various ways, such as theft of your wallet, bank and utility bill statements, computer intrusion and social networks.

6) Prize scams

Fraudsters claiming to be authorised representatives from well-known organisations (such as Etisalat, du, Dubai Shopping Festival, Expo2020, Lulu Hypermarket etc) contact victims to tell them they have won a cash prize and request them to share confidential banking details to transfer the prize money.

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.”

Key facilities
  • Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
  • Premier League-standard football pitch
  • 400m Olympic running track
  • NBA-spec basketball court with auditorium
  • 600-seat auditorium
  • Spaces for historical and cultural exploration
  • An elevated football field that doubles as a helipad
  • Specialist robotics and science laboratories
  • AR and VR-enabled learning centres
  • Disruption Lab and Research Centre for developing entrepreneurial skills
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