Dubai // Properties near Metro stations along the recently opened Red Line, even ones that will not open until next year, are now in bigger demand and commanding higher rents.
Agents are reporting an increase in inquiries about properties along the 52km line, and an increase of 10 per cent or more in rental rates.
"People want to live near Metro stations because the mode of transport is easier and cheaper. However, the price of the apartments has hiked," said Ginni Banga, a sales and letting agent for Poplar Homes.
She said rents for furnished flats in Dubai Marina were also going up even though the area's two Metro stations were not yet open.
"Before the Metro launched, a one bed went for Dh100,000 (US$27,000) a year, but it has risen to Dh110,000," she said. "The landlord is asking for more because the Metro station is nearby."
Ten stations are open along the Red Line, and the other 19 are expected to open by February.
Sayed Jalil of Ajwa Real Estate said most of the 25 inquiries he receives each day are about properties near the Metro.
Those properties "have increased the rents," he said. "A two-bed that went for Dh80,000 now goes for Dh95,000 in Dubai Marina."
Another agent, however, said there the increase in rates had not been significant.
"Nothing substantial or obvious to me, but there has been a little bit of an upside," said Chris Naamo, a sales and leasing manager for Cubic Real Estate. "We have had about a 10 per cent increase in the number of people asking to live near the Metro."
A study by the international real estate firm DTZ. released before the Metro opened, predicted a significant jump in the value of property within 400 metres of the stations, especially commercial buildings. But the study cautioned it may take time to feel the full impact, especially since only 10 stations are open.
The report said the potential increase in values near to the Metro stations could be 10 to 20 per cent for both residential and commercial properties, although not necessarily around every station.
Andrew Goodwin, a director at DTZ who worked on the study, said properties near the stations would also hold their value better than properties not serviced by the system.
However, proximity to the Metro would only be a positive factor if the properties were of the same or superior quality as others on the market, he said.
"That is one of the many factors, like quality of finish of the building, the right size and amenities. We see the infrastructure and public transport in any particular location [as a] greater attraction," Mr Goodwin said.
Previous international studies on the impact of rail networks found that property values increased more than 50 per cent in some cases.
A 1998 study on the Tokaido line in Japan reported an increase of up to 57 per cent in the value of nearby land used for commercial development. "Tokyo has dreadful traffic and the Metro is very good there," said Richard Toll, a research professor in the Economic and Social Research Institute in Dublin, which carried out a similar study in Ireland.
"Everywhere there have been studies the answer is yes - values rise - but the numbers differ from one place to the next," he said.
A light rail line was launched in 2004 in Dublin. A study found an increase of seven to 17 per cent in the value of properties between 500 and 2,000 metres from the stations.
"It depends on the quality of the service, but in Dublin or other European cities with lots of congestion, a good light rail link makes a lot of difference," Mr Toll said.
"What people are paying for is not to drive to work. With congestion problems in Dubai and the city clogged up with cars, then people will be willing to pay a lot money."
If the Metro runs frequently at a reasonable price, he said, people will use it.
"People really don't like traffic jams," he said.
eharnan@thenational.ae
The specs
Engine: 2.0-litre 4-cyl turbo
Power: 190hp at 5,600rpm
Torque: 320Nm at 1,500-4,000rpm
Transmission: 7-speed dual-clutch auto
Fuel consumption: 10.9L/100km
Price: From Dh119,900
On sale: Now
EMIRATES'S REVISED A350 DEPLOYMENT SCHEDULE
Edinburgh: November 4 (unchanged)
Bahrain: November 15 (from September 15); second daily service from January 1
Kuwait: November 15 (from September 16)
Mumbai: January 1 (from October 27)
Ahmedabad: January 1 (from October 27)
Colombo: January 2 (from January 1)
Muscat: March 1 (from December 1)
Lyon: March 1 (from December 1)
Bologna: March 1 (from December 1)
Source: Emirates
The biog
Siblings: five brothers and one sister
Education: Bachelors in Political Science at the University of Minnesota
Interests: Swimming, tennis and the gym
Favourite place: UAE
Favourite packet food on the trip: pasta primavera
What he did to pass the time during the trip: listen to audio books
Key fixtures from January 5-7
Watford v Bristol City
Liverpool v Everton
Brighton v Crystal Palace
Bournemouth v AFC Fylde or Wigan
Coventry v Stoke City
Nottingham Forest v Arsenal
Manchester United v Derby
Forest Green or Exeter v West Brom
Tottenham v AFC Wimbledon
Fleetwood or Hereford v Leicester City
Manchester City v Burnley
Shrewsbury v West Ham United
Wolves v Swansea City
Newcastle United v Luton Town
Fulham v Southampton
Norwich City v Chelsea
NEW ARRIVALS
Benjamin Mendy (Monaco) - £51.75m (Dh247.94m)
Kyle Walker (Tottenham Hotspur) - £45.9m
Bernardo Silva (Monaco) - £45m
Ederson Moraes (Benfica) - £36m
Danilo (Real Madrid) - £27m
Douglas Luiz (Vasco de Gama) - £10.8m
UAE athletes heading to Paris 2024
Equestrian
Abdullah Humaid Al Muhairi, Abdullah Al Marri, Omar Al Marzooqi, Salem Al Suwaidi, and Ali Al Karbi (four to be selected).
Judo
Men: Narmandakh Bayanmunkh (66kg), Nugzari Tatalashvili (81kg), Aram Grigorian (90kg), Dzhafar Kostoev (100kg), Magomedomar Magomedomarov (+100kg); women's Khorloodoi Bishrelt (52kg).
Cycling
Safia Al Sayegh (women's road race).
Swimming
Men: Yousef Rashid Al Matroushi (100m freestyle); women: Maha Abdullah Al Shehi (200m freestyle).
Athletics
Maryam Mohammed Al Farsi (women's 100 metres).
Imperial Island: A History of Empire in Modern Britain
Author: Charlotte Lydia Riley
Publisher: Bodley Head
Pages: 384
COMPANY PROFILE
Name: SmartCrowd
Started: 2018
Founder: Siddiq Farid and Musfique Ahmed
Based: Dubai
Sector: FinTech / PropTech
Initial investment: $650,000
Current number of staff: 35
Investment stage: Series A
Investors: Various institutional investors and notable angel investors (500 MENA, Shurooq, Mada, Seedstar, Tricap)
How to help
Call the hotline on 0502955999 or send "thenational" to the following numbers:
2289 - Dh10
2252 - Dh50
6025 - Dh20
6027 - Dh100
6026 - Dh200
MATCH INFO
Real Madrid 2 (Benzema 13', Kroos 28')
Barcelona 1 (Mingueza 60')
Red card: Casemiro (Real Madrid)
Company Profile
Company name: EduPloyment
Date started: March 2020
Co-Founders: Mazen Omair and Rana Batterjee
Base: Dubai, UAE
Sector: Recruitment
Size: 30 employees
Investment stage: Pre-Seed
Investors: Angel investors (investment amount undisclosed)
The specs
Engine: Two permanent-magnet synchronous AC motors
Transmission: two-speed
Power: 671hp
Torque: 849Nm
Range: 456km
Price: from Dh437,900
On sale: now
WWE Super ShowDown results
Seth Rollins beat Baron Corbin to retain his WWE Universal title
Finn Balor defeated Andrade to stay WWE Intercontinental Championship
Shane McMahon defeated Roman Reigns
Lars Sullivan won by disqualification against Lucha House Party
Randy Orton beats Triple H
Braun Strowman beats Bobby Lashley
Kofi Kingston wins against Dolph Zigggler to retain the WWE World Heavyweight Championship
Mansoor Al Shehail won the 50-man Battle Royal
The Undertaker beat Goldberg
SPEC SHEET: SAMSUNG GALAXY S23 ULTRA
Display: 6.8" edge quad-HD+ dynamic Amoled 2X, Infinity-O, 3088 x 1440, 500ppi, HDR10+, 120Hz
Processor: 4nm Qualcomm Snapdragon 8 Gen 2, 64-bit octa-core
Memory: 8/12GB RAM
Storage: 128/256/512GB/1TB (only 128GB has an 8GB RAM option)
Platform: Android 13
Main camera: quad 12MP ultra-wide f/2.2 + 200MP wide f/1.7 + 10MP telephoto f/4.9 + 10MP telephoto 2.4; 3x/10x optical zoom, Space Zoom up to 100x; auto HDR, expert RAW
Video: 8K@24/30fps, 4K@60fps, full-HD@60fps, HD@30fps, full-HD super slo-mo@960fps
Front camera: 12MP f/2.2
Battery: 5000mAh, fast wireless charging 2.0, Wireless PowerShare
Connectivity: 5G, Wi-Fi, Bluetooth 5.2, NFC
I/O: USB-C; built-in Galaxy S Pen
SIM: single nano / nano + eSIM / nano + nano + eSIM / nano + nano
Colours: cream, green, lavender, phantom black; online exclusives: graphite, lime, red, sky blue
Price: Dh4,949 for 256GB, Dh5,449 for 512GB, Dh6,449 for 1TB; 128GB unavailable in the UAE
How the bonus system works
The two riders are among several riders in the UAE to receive the top payment of £10,000 under the Thank You Fund of £16 million (Dh80m), which was announced in conjunction with Deliveroo's £8 billion (Dh40bn) stock market listing earlier this year.
The £10,000 (Dh50,000) payment is made to those riders who have completed the highest number of orders in each market.
There are also riders who will receive payments of £1,000 (Dh5,000) and £500 (Dh2,500).
All riders who have worked with Deliveroo for at least one year and completed 2,000 orders will receive £200 (Dh1,000), the company said when it announced the scheme.
COMPANY PROFILE
Name: Xpanceo
Started: 2018
Founders: Roman Axelrod, Valentyn Volkov
Based: Dubai, UAE
Industry: Smart contact lenses, augmented/virtual reality
Funding: $40 million
Investor: Opportunity Venture (Asia)
START-UPS IN BATCH 4 OF SANABIL 500'S ACCELERATOR PROGRAMME
Saudi Arabia
Joy: Delivers car services with affordable prices
Karaz: Helps diabetics with gamification, IoT and real-time data
Medicarri: Medical marketplace that connects clinics with suppliers
Mod5r: Makes automated and recurring investments to grow wealth
Stuck: Live, on-demand language support to boost writing
Walzay: Helps in recruitment while reducing hiring time
UAE
Eighty6: Marketplace for restaurant and supplier procurements
FarmUnboxed: Helps digitise international food supply chain
NutriCal: Helps F&B businesses and governments with nutritional analysis
Wellxai: Provides insurance that enables and rewards user habits
Egypt
Amwal: A Shariah-compliant crowd-lending platform
Deben: Helps CFOs manage cash efficiently
Egab: Connects media outlets to journalists in hard-to-reach areas for exclusives
Neqabty: Digitises financial and medical services of labour unions
Oman
Monak: Provides financial inclusion and life services to migrants
The specs
Engine: 3.5-litre twin-turbo V6
Power: 456hp at 5,000rpm
Torque: 691Nm at 3,500rpm
Transmission: 10-speed auto
Fuel consumption: 14.6L/100km
Price: from Dh349,545
On sale: now
if you go
The flights
Fly direct to Kutaisi with Flydubai from Dh925 return, including taxes. The flight takes 3.5 hours. From there, Svaneti is a four-hour drive. The driving time from Tbilisi is eight hours.
The trip
The cost of the Svaneti trip is US$2,000 (Dh7,345) for 10 days, including food, guiding, accommodation and transfers from and to Tbilisi or Kutaisi. This summer the TCT is also offering a 5-day hike in Armenia for $1,200 (Dh4,407) per person. For further information, visit www.transcaucasiantrail.org/en/hike/
Herc's Adventures
Developer: Big Ape Productions
Publisher: LucasArts
Console: PlayStation 1 & 5, Sega Saturn
Rating: 4/5
SPECS
Engine: Dual electric motors with 102kW battery pack
Power: 570hp
Torque: 890Nm
Range: Up to 428km
On sale: Now
Price: From Dh1,700,000
STAR WARS JEDI: SURVIVOR
Developer: Respawn Entertainment
Publisher: Electronic Arts
Consoles: PC, Playstation 5, Xbox Series X and S
Rating: 4/5
RESULT
Leeds United 1 Manchester City 1
Leeds: Rodrigo (59')
Man City: Sterling (17')
Man of the Match: Rodrigo Moreno (Leeds)
Kill
Director: Nikhil Nagesh Bhat
Starring: Lakshya, Tanya Maniktala, Ashish Vidyarthi, Harsh Chhaya, Raghav Juyal
Rating: 4.5/5
THE 12 BREAKAWAY CLUBS
England
Arsenal, Chelsea, Liverpool, Manchester City, Manchester United, Tottenham Hotspur
Italy
AC Milan, Inter Milan, Juventus
Spain
Atletico Madrid, Barcelona, Real Madrid
'Doctor Strange in the Multiverse Of Madness'
Director: Sam Raimi
Cast: Benedict Cumberbatch, Elizabeth Olsen, Chiwetel Ejiofor, Benedict Wong, Xochitl Gomez, Michael Stuhlbarg and Rachel McAdams
Rating: 3/5
FINAL RESULT
Sharjah Wanderers 20 Dubai Tigers 25 (After extra-time)
Wanderers
Tries: Gormley, Penalty
cons: Flaherty
Pens: Flaherty 2
Tigers
Tries: O’Donnell, Gibbons, Kelly
Cons: Caldwell 2
Pens: Caldwell, Cross
Scream VI
Directors: Matt Bettinelli-Olpin and Tyler Gillett
Stars: Melissa Barrera, Jasmin Savoy Brown, Jack Champion, Dermot Mulroney, Jenna Ortega, Hayden Panettiere and Courteney Cox
Rating: 3/5
The biog
Name: Shamsa Hassan Safar
Nationality: Emirati
Education: Degree in emergency medical services at Higher Colleges of Technology
Favourite book: Between two hearts- Arabic novels
Favourite music: Mohammed Abdu and modern Arabic songs
Favourite way to spend time off: Family visits and spending time with friends
The biog
Fast facts on Neil Armstrong’s personal life:
- Armstrong was born on August 5, 1930, in Wapakoneta, Ohio
- He earned his private pilot’s license when he was 16 – he could fly before he could drive
- There was tragedy in his married life: Neil and Janet Armstrong’s daughter Karen died at the age of two in 1962 after suffering a brain tumour. She was the couple’s only daughter. Their two sons, Rick and Mark, consulted on the film
- After Armstrong departed Nasa, he bought a farm in the town of Lebanon, Ohio, in 1971 – its airstrip allowed him to tap back into his love of flying
- In 1994, Janet divorced Neil after 38 years of marriage. Two years earlier, Neil met Carol Knight, who became his second wife in 1994