LIVING IN...
This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.
With its specialist hospitals and scientific research hubs, it's easy to mistake Dubai Science Park (DSP) for an industrial centre with little to offer families looking to set up home.
But that could not be further from the truth, as rapid development in this blossoming community has seen it grow to include three high-rise apartment blocks, hotels and an exclusive enclave of more than 400 villas.
It is fast becoming one of Dubai’s up-and-coming neighbourhoods.
Developers first broke ground in 2005, but the residential aspect of DSP has only recently begun to take shape.
DSP has a lovely community feel. Everyone wants to be involved
The community strives to be Dubai’s most innovative and vibrant community for the sciences, and a place where professionals and residents can work, live and flourish.
Alongside residential options, the community comprises a twin-towered high-tech headquarters, alongside an eco-friendly laboratory complex and two warehouses set aside for research and development.
Marwan Abdulaziz Janahi, DSP’s managing director, said that while the area suits those working nearby, it is attracting new residents due to its convenient position and schools.
“The location is central and easily accessible to main highways, which people consider to be very important,” he said.
“Younger people are conscious of their environmental impact and want to be close to where they work.
“People living here do not need to work in DSP, but a lot of the companies moving here have employees who want to live here.
“It will soon have all the components that a modern family would want, and that will include some great new restaurants and other exciting retail outlets.”
What makes Dubai Science Park a good community?
So far, approximately 2,000 people live in the neighbourhood, but that is expected to soar as the Arjan residential towers fill up.
The Millennium Mont Rose Executive Apartments has 198 serviced rooms, while the Villa Lantana gated community has 440 luxury villas set in green, spacious grounds in the shadow of DSP's headquarters.
The Science Park is home to more than 400 businesses and research centres, but aims to be more than just an industrial hub for scientific innovation.
Situated in south Barsha, this district is also home to two specialist hospitals, including the NeuroSpinal Hospital and Mediclinic Parkview Hospital, which has a special emphasis on family medicine, obstetrics and gynaecology, and paediatrics.
Conveniently, these two facilities are just a short walk from the apartment blocks and Villa Lantana – ideal if you need urgent care, or a 24-hour pharmacy.
How well is it connected?
Public transport links are still in their infancy, but the nearby Miracle Garden, Motor City and Studio City RTA bus stops provide plenty of link options if you need to travel into the city or out to Arabian Ranches and Town Square.
The F29 service eventually terminates at Mall of the Emirates, while the F20 and F30 buses service the area and are within walking distance of the community.
The nearest Metro station, First Abu Dhabi Bank, is an eight-minute drive away.
Major highways of Umm Suqeim Road, Sheikh Mohammad bin Zayed Road and Al Khail Road provide easy access to Downtown Dubai and Dubai Marina, Jumeirah's beaches are only a 15-minute drive away.
Location and landmarks
The DSP headquarters are the area’s most obvious landmark, as its twin wedge-shaped buildings dominate the skyline.
Situated just off the D63 Umm Suqeim Road, DSP is just a short drive from Motor City, home to Dubai Autodrome and an ever-increasing range of shopping and dining opportunities and the Park Inn Radisson Hotel.
Dubai Miracle Garden, Global Village and IMG Worlds of Adventure are also located close by.
How much does it cost to rent in Dubai Science Park?
A 79-square-metre, one-bedroom, two-bathroom apartment in one of the new DSP Arjan apartment towers will cost approximately Dh45,000 per calendar year.
Larger two-bed apartments, spread across 140 square metres, cost approximately Dh65,000.
Each comes with access to a shared gym and swimming pool, as well as covered parking.
A spacious three-bedroom corner detached villa in the Villa Lantana community currently rents for approximately Dh160,000 a year.
“With just 440 villas, the Villa Lantana community is quite niche and has retained that exclusive feel to it,” said Fahad Tanko, a senior sales negotiator at OBG Real Estate Broker.
“There is low supply and there is not much new development planned for these kinds of homes, but the Arjan area is moving very fast.
“It is a great location for the nearby Studio City and Motor City, and in terms of connectivity, it is hard to beat.”
Facilities in the community
The Villa Lantana residential development is a short drive from the My City Centre Mall, Smart Start Nursery and Foremarke School, with many more international schools within a short drive of the business district.
The Arjan residential towers have mini-marts, hair salons, pharmacies and coffee shops. A huge park close to DSP headquarters is also due to open soon, connecting a running track with the Villa Lantana community.
It will also have several multi-use sports facilities, such as football, tennis and basketball courts.
The Fatima Buti Atiq Mosque, Masjid Abu Bukr Al Siddiq Mosque, Khalfan Bin Shannaf Mosque, Masjid Al Hussein Ali Yateem and Ali-Al Haj Mosque are all close by.
The Fellowship Church in Al Sufouh is a 15-minute drive away, while the closest temples are a 30-minute drive, located in Al Raffa.
Supermarkets and shopping centres
The My City Centre Mall has a Carrefour Market, Minutes, Al Ansari Exchange, Shakespeare and Co and several other popular fashion and beauty stores.
A range of other supermarket options are close by, including West Zone Fresh Supermarket, BlueMart Supermarket, Jyothi Supermarket and Greens Supermarket.
Schools and hospitals
Gems World Academy, JSS International School, Mediclinic Parkview Hospital and Neuro Spinal Hospital are the standout facilities in the area, as is the nearby Foremarke School, to be renamed Repton Al Barsha from September.
Headmistress Zoe Woolley has been at the school for five years and has seen the community grow rapidly in recent months.
“It has changed hugely in that time,” she said.
“We operate a lot of before and after-school activities which is great for working parents or those with busy lifestyles.
“It is so important parents can choose a school where they live and work, so we tick a lot of boxes.
“DSP has a lovely community feel. The people who work here reach out to us and we have great links with Park View hospital and the DSP headquarters.
“Everyone wants to be involved and it is very important for all of us that there is a sense of community here.”
Restaurants and places to eat
The My City Centre Mall has the usual fast-food options, including Hatem Persian dining, McDonald’s, Papa Murphy’s pizza and a Tim Hortons coffee shop.
A huge number of outlets in Studio City and Motor City offer authentic Arabic, Indian and Syrian food, such as Saj 2 Go, Marmarita Restaurant, Bazerkan Lebanese Restaurant and Achha Baba Restaurant.
There's also Maison 15, an independent restaurant and library with a leafy courtyard garden, serving seasonal food.
What residents say
Fouzia Ahmed, a British mother of two who works in banking, moved to Dubai 10 years ago and has lived in Villa Lantana 2 since 2018.
“We were the first people to live in this house we are renting. A lot has changed and it has become more of a community,” she said.
“The area is getting much busier, which is a good thing, but the main attraction is the schools.
“Being close to schools rather than our work was more important.”
Mrs Ahmed’s two children are 9 and 8, and said the after-school activities are a key ingredient when building a community.
Working from home, all amenities that we needed were on our doorstep
She said although rents have fallen slightly during her family’s time there, pent-up demand means vacant villas are soon snapped up.
“The commute to work in Downtown is pretty straightforward,” said Mrs Ahmed, 36.
“That makes a big difference to living here, rather than somewhere like Arabian Ranches that can catch a lot of traffic and add 20 minutes to your day.
“Working from home, our daily activities for the family were focused around DSP, and all amenities that we needed were on our doorstep.
“There is a new park opening up nearby with some great sports facilities, so there is lots to like. It is getting busier all the time.
“There are always lists on Facebook of people enquiring about the availability of villas.
“If you bought here, I imagine you would be quite happy.”
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COMPANY PROFILE
Company name: Letstango.com
Started: June 2013
Founder: Alex Tchablakian
Based: Dubai
Industry: e-commerce
Initial investment: Dh10 million
Investors: Self-funded
Total customers: 300,000 unique customers every month
Election pledges on migration
CDU: "Now is the time to control the German borders and enforce strict border rejections"
SPD: "Border closures and blanket rejections at internal borders contradict the spirit of a common area of freedom"
Other acts on the Jazz Garden bill
Sharrie Williams
The American singer is hugely respected in blues circles due to her passionate vocals and songwriting. Born and raised in Michigan, Williams began recording and touring as a teenage gospel singer. Her career took off with the blues band The Wiseguys. Such was the acclaim of their live shows that they toured throughout Europe and in Africa. As a solo artist, Williams has also collaborated with the likes of the late Dizzy Gillespie, Van Morrison and Mavis Staples.
Lin Rountree
An accomplished smooth jazz artist who blends his chilled approach with R‘n’B. Trained at the Duke Ellington School of the Arts in Washington, DC, Rountree formed his own band in 2004. He has also recorded with the likes of Kem, Dwele and Conya Doss. He comes to Dubai on the back of his new single Pass The Groove, from his forthcoming 2018 album Stronger Still, which may follow his five previous solo albums in cracking the top 10 of the US jazz charts.
Anita Williams
Dubai-based singer Anita Williams will open the night with a set of covers and swing, jazz and blues standards that made her an in-demand singer across the emirate. The Irish singer has been performing in Dubai since 2008 at venues such as MusicHall and Voda Bar. Her Jazz Garden appearance is career highlight as she will use the event to perform the original song Big Blue Eyes, the single from her debut solo album, due for release soon.
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
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.”
Specs
Engine: Electric motor generating 54.2kWh (Cooper SE and Aceman SE), 64.6kW (Countryman All4 SE)
Power: 218hp (Cooper and Aceman), 313hp (Countryman)
Torque: 330Nm (Cooper and Aceman), 494Nm (Countryman)
On sale: Now
Price: From Dh158,000 (Cooper), Dh168,000 (Aceman), Dh190,000 (Countryman)
The Perfect Couple
Starring: Nicole Kidman, Liev Schreiber, Jack Reynor
Creator: Jenna Lamia
Rating: 3/5
COMPANY PROFILE
Name: Mamo Year it started: 2019 Founders: Imad Gharazeddine, Asim Janjua Based: Dubai, UAE Number of employees: 28 Sector: Financial services Investment: $9.5m Funding stage: Pre-Series A Investors: Global Ventures, GFC, 4DX Ventures, AlRajhi Partners, Olive Tree Capital, and prominent Silicon Valley investors. Dengue%20fever%20symptoms
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Name: Peter Dicce
Title: Assistant dean of students and director of athletics
Favourite sport: soccer
Favourite team: Bayern Munich
Favourite player: Franz Beckenbauer
Favourite activity in Abu Dhabi: scuba diving in the Northern Emirates
Crops that could be introduced to the UAE
1: Quinoa
2. Bathua
3. Amaranth
4. Pearl and finger millet
5. Sorghum
LIVING IN...
This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.
