Showing posts with label Abu Dhabi Story. Show all posts
Showing posts with label Abu Dhabi Story. Show all posts
Eid Al Adha to be celebrated on November 27
Eid Al Adha will be celebrated on November 27, 2009, according to a statement issued by the Saudi authorities after sighting of the Zul Hijjah moon on Tuesday night.
The statement said as the month of Zul Hijjah begins on Wednesday (today), the first day of Haj this year will be November 26.
Meanwhile, His Highness Shaikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE, has issued, in his capacity as Ruler of Dubai, an order to pay this month’s salaries for the employees of Dubai government on Sunday, November 22, on the occasion of Eid Al Adha.
Shaikh Mohammed directed the Ruler’s Court to take all necessary steps to ensure salaries paid on the time specified in the order.
Source : Khaleejtimes.com
Decree on rentals draws cheers in Abu Dhabi
Abu Dhabi: A new Abu Dhabi Government rule that landlords cannot evict law-abiding tenants unless they complete a minimum of five years was welcomed by economists and property sector analysts, who said it will help create a feel good factor in general and give a much-needed fillip to the real estate sector.
"I think, it will bring more stability in the real estate sector. The people living here will feel more secure in their apartments and villas. I think, it's a positive decree," said economist Mohammad Al Asoomi.
"The decision will help ease the financial burden as tenants know they can stay for five years and the landlords cannot increase their rent by more than 5 per cent," said economist Mohammad Amerah.
"The leadership wants to help normal people, the middle income and low income groups. This is one step in the right direction." Amerah added.
Blair Hagkull, managing director for the Middle East and North Africa for Jones Lang LaSalle, a major global property investment advisory company, said the new law provides greater clarity.
"The new law responds to a shortage of housing stock and the broader issue of affordability," said Hagkull, adding that it's important that there are clear rules that define the relationship between a landlord and a tenant.
As per the new rule, the legal protection period covering tenancy contracts in Abu Dhabi has been extended from four to five years, while the yearly rent increase will remain capped at 5 per cent.
General Shaikh Mohammad Bin Zayed Al Nahyan, Abu Dhabi Crown Prince and Deputy Supreme Commander of the UAE Armed Forces, and Chairman of the Abu Dhabi Executive Council, issued the decision amending Article 20 of Law 6 for 2009.
The decision aims to rebalance and stabilise the property market through market mechanisms and demand-and-supply principles. The legal protection shield will, however, vanish if the tenant does not pay the rent, or resorts to illegal practices such as subletting or breaks any other rules.
Source : Gulfnews.com
By Himendra Mohan Kumar,
Staff Reporter, Gulf News
'Common Mistakes' during holy month
www.thenational.ae
By Rym Ghazal
Sleeping all day, watching too much television and breaking the fast with a cigarette are among the “most common mistakes” that diminish the value of Ramadan for many Muslims, Dubai’s Islamic affairs body says.
As part of its Ramadan package, the website of the Islamic Affairs and Charitable Activities Department lists 14 examples of behaviour that are typical of many Muslim households during the holy month.
Extravagant iftar tables and the amount of time they demand from the women are at the top of the list.
Even families with modest incomes are expected to produce several dishes that include fresh ingredients, meat and a large choice of desserts and fruit, all beautifully presented.
“A mistake typically committed by women is to waste too much time in food preparation,” it says.
“They focus on making an extravagant quantity and presentation of food and drinks and end up spending their entire day in the kitchen ... forgetting to spend time in prayer and contemplation.”
Six of the 14 mistakes specifically concern women, mainly reminding them to devote more time to prayer and to refrain from wearing too much perfume and make-up and from mixing with men when they join their families at the mosque.
“Such behaviour may distract others from worship,” it says.
Religious authorities have several times expressed concern about what they have described as seemingly diminished piety among women. Over the past year there have been campaigns to recruit female Emiratis and train them as religious advisers for other women.There has also been an unprecedented effort to recruit and train women as muftis, with the same responsibilities as their male counterparts.
According to the department, among the complaints commonly heard about women is that they “use too many excuses to get out of their religious obligations”.
“Women should not overuse the excuse of menstruation and miss out on all kinds of worship and prayers that should be made during Ramadan,” it says.
Menstruating women are exempt from daily prayers, but not from other forms of worship.Sloth also features prominently. Habits such as sleeping all day and watching popular Ramadan programmes on television all evening – a habit for many households during the holy month – were particularly highlighted.
“It is unfortunate that many Muslims end up with these distractions, losing reward and benefit for their fast,” says the department.
Forgetting to make duaa (prayer) as the fast is broken, taking too long breaking the fast or breaking it with a cigarette were not condoned, especially the last.
“This is a very major mistake,” it says. “Ramadan should be taken as an opportunity to quit this habit permanently.”
According to some jurists, tobacco products are completely forbidden for Muslims because of their harm to health.
Last year, the General Authority for Islamic Affairs and Endowments issued an unprecedented fatwa that said smoking in a public place was also forbidden because second-hand smoke was harmful to others.However, one of the most popular activities during Ramadan is to gather after iftar to smoke shisha well into the night.The air inside many iftar tents resembles a cloud of smoke in the hours leading up to sohour as many establishments allow shisha, cigars, pipes and cigarettes.
Other mistakes listed include the tendency for fasting Muslims to focus only on abstaining from food, drink and sexual contact, but continuing to indulge in gossip, slander and cursing, which can render the fast void.
Parents are also reminded to allow their children to fast once they reach puberty. Many parents discourage their prepubescent offspring from joining in the rituals and traditions of Ramadan.
Shoppers are not left off the list, which reminds Muslims to avoid spending too long in the shops, especially during the last 10 days of Ramadan, which are considered to be the holiest. Many people go shopping in preparation for Eid, buying new things for themselves and others, including expensive items such as cars and houses.Instead, says the department, they should spend more time in worship and devotion, following in the footstep of the Prophet Mohammed.
“This is how to make the most of the month of Ramadan.”
AirAsia X Sees Mutual Benefit in Links with UAE’s Budget Airlines
(I should have posted this article earlier. It's the talk of the month among malaysian in UAE. Heard its gonna start flying to Abu Dhabi this november. Finally, balik kampung wouldn't be so much cheaper starting next year. Yieehaa! )
Source : Khaleejtimes.com
by Bruce Stanley
06/08/09
Source : Khaleejtimes.comby Bruce Stanley
06/08/09
DUBAI — Long-distance budget carrier AirAsia X considers low-cost airlines based in the Gulf to be its allies, not rivals, as it prepares to launch flights in October between Malaysia and the UAE, the company’s chief said on Wednesday.
Local low-cost carriers such as Air Arabia and flydubai can supply AirAsia X with passenger traffic from cities they serve in the region. In turn, AirAsia X can provide traffic to these UAE-based carriers from the long-haul flights it plans to operate to Abu Dhabi International Airport, AirAsia X Chief Executive Officer Azran Osman-Rani said in a telephone interview.
After starting service to Abu Dhabi from Kuala Lumpur this fall, AirAsia X plans next year to make Abu Dhabi a regional hub for onward flights to cities in Europe, Africa, and central Asia. Tony Fernandes, Chief Executive Officer of AirAsia Bhd., which owns part of AirAsia X, confirmed these plans on Tuesday.
“We welcome them,” said Mohammed Al Bulooki, Vice President for airline marketing and aeronautical revenue at Abu Dhabi Airport Company. Al Balooki added that his company, which operates the Abu Dhabi International Airport, had yet to receive a formal letter of intent from AirAsia X.
Osman-Rani believes that Sharjah-based Air Arabia and Dubai’s flydubai can be de facto feeder airlines for AirAsia X in Abu Dhabi, just as Europe’s no-frills Ryanair and easyjet fill this role for AirAsia X’s flights to and from London. Without such complimentary traffic in the Middle East, AirAsia X would be unable to tap markets in Egypt, Jordan and other countries in the region, he said.
AirAsia X selected Abu Dhabi as a destination and a hub partly because of the emirate’s commitment to develop its airport as an international gateway. Abu Dhabi also offers a better customer catchment area than Sharjah, and airline competition in Abu Dhabi is less intensive than in Dubai, Osman-Rani said.
Both Emirates Airline and Malaysia Airlines fly between Dubai and KualaLumpur, whereas in Abu Dhabi, AirAsia X will have to compete only with Etihad Airways, he said.
AirAsia X, launched in January 2007, posted its first monthly profit in December 2008. For the first half of 2009, Osman-Rani said that the carrier has managed “to keep our heads above water, which is more than you can say about a lot of other airlines.”
AirAsia X is owned partly by Malaysia’s AirAsia Bhd., one of the most successful no-frills carriers flying short, regional routes.
Local low-cost carriers such as Air Arabia and flydubai can supply AirAsia X with passenger traffic from cities they serve in the region. In turn, AirAsia X can provide traffic to these UAE-based carriers from the long-haul flights it plans to operate to Abu Dhabi International Airport, AirAsia X Chief Executive Officer Azran Osman-Rani said in a telephone interview.
After starting service to Abu Dhabi from Kuala Lumpur this fall, AirAsia X plans next year to make Abu Dhabi a regional hub for onward flights to cities in Europe, Africa, and central Asia. Tony Fernandes, Chief Executive Officer of AirAsia Bhd., which owns part of AirAsia X, confirmed these plans on Tuesday.
“We welcome them,” said Mohammed Al Bulooki, Vice President for airline marketing and aeronautical revenue at Abu Dhabi Airport Company. Al Balooki added that his company, which operates the Abu Dhabi International Airport, had yet to receive a formal letter of intent from AirAsia X.
Osman-Rani believes that Sharjah-based Air Arabia and Dubai’s flydubai can be de facto feeder airlines for AirAsia X in Abu Dhabi, just as Europe’s no-frills Ryanair and easyjet fill this role for AirAsia X’s flights to and from London. Without such complimentary traffic in the Middle East, AirAsia X would be unable to tap markets in Egypt, Jordan and other countries in the region, he said.
AirAsia X selected Abu Dhabi as a destination and a hub partly because of the emirate’s commitment to develop its airport as an international gateway. Abu Dhabi also offers a better customer catchment area than Sharjah, and airline competition in Abu Dhabi is less intensive than in Dubai, Osman-Rani said.
Both Emirates Airline and Malaysia Airlines fly between Dubai and KualaLumpur, whereas in Abu Dhabi, AirAsia X will have to compete only with Etihad Airways, he said.
AirAsia X, launched in January 2007, posted its first monthly profit in December 2008. For the first half of 2009, Osman-Rani said that the carrier has managed “to keep our heads above water, which is more than you can say about a lot of other airlines.”
AirAsia X is owned partly by Malaysia’s AirAsia Bhd., one of the most successful no-frills carriers flying short, regional routes.
Average Emirati household income in Abu Dhabi is Dh47,066
Abu Dhabi: The average monthly income of UAE national households in Abu Dhabi was Dh47,066 in 2008 compared with Dh15,000 for expat households, a study released by the emirate's Department of Economic Development (DED) shows.
Abu Dhabi is home to more than 50 per cent of the country's 880,000 citizens. In 2008, they represented 18.5 per cent of the population, according to the Ministry of Economy's figures.
One reason behind the disparity between local and foreign incomes is the relatively large size of Emirati households, says DED Chief Economic Researcher Khalid Desouky. The average size of an Emirati household was 10 people in 2008, including the main members of the family and workers such as drivers and maids.
Consistent with higher incomes, UAE national households also recorded higher average spending at Dh25,458 per month compared with Dh8,900 for foreigners.
According to the study, 83 per cent of nationals rely completely on salaries and bonuses for their incomes with eight per cent dependent on property rentals and nine per cent on other sources such as capital gains.
Gulf Research Center (GRC) researcher Saif Al Haddashi says average spending for nationals will likely remain at the same level and even see an increase in the short-term, but drop long-term because of the government's economic diversification plans.
"Spending by locals will not go down by much because of the government's intervention to cushion the impact of the economic crisis," he says.
"In the long-term, though, you can see the UAE moving in the same direction as Bahrain, Saudi Arabia and Oman, where you have locals working in semi-skilled positions."
According to the study, Abu Dhabi Government employees represent 48 per cent of all employed nationals in the emirate. An additional 31 per cent of locals are employed by the Federal Government. Al Haddashi says this number will likely decline as the government moves toward economic diversification and is less able to maintain salary levels.
Still, he says care should be exercised when analysing the numbers presented by the study as they only represent averages. A high disparity exists even between incomes of nationals, he adds.
Besides income and spending data, the study shows 73 per cent of nationals living in Abu Dhabi are under the age of 30.
With the exception of Oman with 65 per cent, the other Gulf Cooperation Council countries have a ratio of less than 60 per cent for this age group, according to United Nations figures.
Source : Gulfnews.com
Abu Dhabi Households Spend Dh135,300 Per Year on Average
ABU DHABI - The average annual expenditure by households in the Abu Dhabi emirate amounts to Dh135,300, according to a survey released by the Statistics Centre–Abu Dhabi on Monday.
According to the Household Income and Expenditure Survey that was conducted from April 1, 2007, to March 31, 2008, households of UAE citizens spend almost three times more than resident foreigners and individuals living in collective households. A collective household refers to dwellings with more than four occupants who have no blood relationship.
UAE citizen households consumed on average Dh305,500 worth of goods and services per year compared to an average of Dh106,400 spent by resident foreigner households and Dh47,500 by collective households.
The average annual per capita expenditure amounted to approximately Dh24,700, with UAE nationals spending Dh 29,900 per year, against Dh25,200 for non-nationals and Dh12,000 for members of collective households.
The survey found that spending on food comprised about 16.4 per cent of total expenditure. For people living in collective households, expenditure on food made up almost a quarter of their total spending.
UAE citizens spent 16 per cent of their expenditure on food while non-national and collective households spent 15.2 per cent and 24.7 per cent, respectively.
The major expenditure groups in the survey included rents, clothing, furniture, medical care, transportation, communication, education entertainment and others miscellaneous goods and services.
In terms of the distribution of expenditure by households, the survey found that the lowest 20 percent, or the low-income groups, accounted for only 6.4 per cent of the total annual expenditure, while the spending by the top 20 per cent accounted for 42.7 per cent. The middle-income group contributed 16.4 per cent.
Furthermore, the survey found that there were 26 cars for each 100 members of UAE citizen households compared to 20 and three cars per hundred, respectively, for members of non-national and collective households.
Source : Khaleejtimes.com
According to the Household Income and Expenditure Survey that was conducted from April 1, 2007, to March 31, 2008, households of UAE citizens spend almost three times more than resident foreigners and individuals living in collective households. A collective household refers to dwellings with more than four occupants who have no blood relationship.
UAE citizen households consumed on average Dh305,500 worth of goods and services per year compared to an average of Dh106,400 spent by resident foreigner households and Dh47,500 by collective households.
The average annual per capita expenditure amounted to approximately Dh24,700, with UAE nationals spending Dh 29,900 per year, against Dh25,200 for non-nationals and Dh12,000 for members of collective households.
The survey found that spending on food comprised about 16.4 per cent of total expenditure. For people living in collective households, expenditure on food made up almost a quarter of their total spending.
UAE citizens spent 16 per cent of their expenditure on food while non-national and collective households spent 15.2 per cent and 24.7 per cent, respectively.
The major expenditure groups in the survey included rents, clothing, furniture, medical care, transportation, communication, education entertainment and others miscellaneous goods and services.
In terms of the distribution of expenditure by households, the survey found that the lowest 20 percent, or the low-income groups, accounted for only 6.4 per cent of the total annual expenditure, while the spending by the top 20 per cent accounted for 42.7 per cent. The middle-income group contributed 16.4 per cent.
Furthermore, the survey found that there were 26 cars for each 100 members of UAE citizen households compared to 20 and three cars per hundred, respectively, for members of non-national and collective households.
Source : Khaleejtimes.com
81 percent of individual spending goes into rents
ABU DHABI —A study by a parliamentary panel on price rise has concluded that rents accounted for more than 81 per cent of individual spending in 2007 as against an international average of less than 25 per cent.
The Federal National Council committee called on the government for reviewing laws and legislations regulating the real estate market and devise strategies for regulatory control over real estate investment and development to provide adequate housing for various groups and meet growing demands of commercial and industrial sectors. The committee also recommended review of the prices of fuels and subsidy on fuels used by industries to slash the cost of production.
“The prices of fuels in the UAE are the highest among the GCC countries. The general rise in prices of oil products have contributed to drive prices up though the UAE is rich in energy sources,” the committee on Finance, Economy and Industrial Affairs noted in its report. The recommendations were part of measures to bring down the high living costs.
The committee demanded the creation of a government body to study, monitor and propose government fees.
It believed that fees levied by local and federal government should be studied closely as they have a direct effect on the end-user as businessmen pass these on to the consumers.
It recommended chalking out time-frame plans for the food security project, including investment in other countries with rich natural resources, to secure essential food commodities.
It also urged the government to provide limited subsidies on rice, wheat, flour, sugar, milk powder, edible oil, drinking water and pharmaceuticals. The committee stressed the need for supporting the agricultural sector and encouraging the setting up of food processing firms and improving the competitive edge of the national economy by removing all barriers on the import of food commodities into the country.
The House also called for pegging the UAE dirham to a basket of currencies, in order to mitigate the negative impact on nation’s economy by the steep fluctuations in exchange rate against US dollar as well as other currencies.
Source : Khaleejtimes online, 24/5/2009
The Federal National Council committee called on the government for reviewing laws and legislations regulating the real estate market and devise strategies for regulatory control over real estate investment and development to provide adequate housing for various groups and meet growing demands of commercial and industrial sectors. The committee also recommended review of the prices of fuels and subsidy on fuels used by industries to slash the cost of production.
“The prices of fuels in the UAE are the highest among the GCC countries. The general rise in prices of oil products have contributed to drive prices up though the UAE is rich in energy sources,” the committee on Finance, Economy and Industrial Affairs noted in its report. The recommendations were part of measures to bring down the high living costs.
The committee demanded the creation of a government body to study, monitor and propose government fees.
It believed that fees levied by local and federal government should be studied closely as they have a direct effect on the end-user as businessmen pass these on to the consumers.
It recommended chalking out time-frame plans for the food security project, including investment in other countries with rich natural resources, to secure essential food commodities.
It also urged the government to provide limited subsidies on rice, wheat, flour, sugar, milk powder, edible oil, drinking water and pharmaceuticals. The committee stressed the need for supporting the agricultural sector and encouraging the setting up of food processing firms and improving the competitive edge of the national economy by removing all barriers on the import of food commodities into the country.
The House also called for pegging the UAE dirham to a basket of currencies, in order to mitigate the negative impact on nation’s economy by the steep fluctuations in exchange rate against US dollar as well as other currencies.
Source : Khaleejtimes online, 24/5/2009
Rents in Dubai and Abu Dhabi level off
Last Updated: January 12. 2009 1:41AM UAE / GMT
Abu Dhabi // The rise in rent for many apartments in Dubai and Abu Dhabi slowed to a standstill in the last three months of the year, according to a new housing report, bringing relief to some tenants after years of soaring prices.
The average cost of renting a one-bedroom flat in Dubai rose by only four per cent last year and did not rise at all in the last three months, the UAE-based property services firm Asteco said in its fourth quarter report, which will be published in full today.
In Abu Dhabi, rents for units with two or three bedrooms also levelled off, although demand for smaller, less expensive homes pushed up prices for one-bedroom flats, the company said.
After years of extreme rental inflation, where average prices climbed by more than 100 per cent, it seemed the UAE would at last enjoy a sustained period of stability, Andrew Chambers, the managing director of Asteco, said yesterday.
“Certainly for the next three to nine months I don’t think there will be anything that will cause a move back to rapid inflation,” Mr Chambers said.
Some property analysts expect the market to soften further as redundancies and recruitment freezes lead to lower housing demand.
Myles Bush, the managing director of Powerhouse Properties, a Dubai-based estate agency, said the number of people starting new leases in Dubai was declining.
The cooling rental market, also a result of an increase in housing supply and prices having reached the limits of affordability, will bring some relief to tenants.
In addition, landlords are relaxing payment terms, allowing tenants to pay rent monthly, rather than with two or three cheques a year.
Jerome Abad, an Italian living in Dubai’s Jumeirah Beach Residence (JBR), said he was relieved that rents finally seemed to be easing.
“My landlord has set me a fair rent compared to market prices, which takes a weight off my mind,” Mr Abad said. “I certainly haven’t heard as many people complaining about their rent in the last six months as before.”
Meanwhile, an International City resident seeking to move to Discovery Gardens said he was quoted about Dh120,000 (US$32,671) in annual rent for a one-bedroom flat in August, but was asked for Dh80,000 to Dh85,000 this month.
“Rents seem to be staying the same in International City but going down in Discovery Gardens,” he said.
Average annual rent for studios, and apartments with one, two and three bedrooms in Dubai were Dh80,000, Dh123,000, Dh165,000 and Dh243,000 respectively, Asteco said.
Average rents for villas in Dubai climbed by just eight per cent between the third and fourth quarters of last year. The company did not release similar figures for the capital.
“A lot of this [stabilisation] has to do with new supply and tenants being unwilling to pay the extra,” Mr Chambers said.
“For the second and third quarters of 2008 the prices were too high to be sustainable and people couldn’t afford it, while in the last quarter people were perhaps leaving or stock was coming on the market.”
New housing has been delivered in projects such as International City and Discovery Gardens, both developed by the UAE-based Nakheel.
In addition, property owners in JBR who had been reluctant to put their homes on the rental market, preferring to watch them appreciate in price before selling, are now keen to earn rental income amid tumbling sales prices.
The trend has reduced pressure on Dubai and Abu Dhabi’s housing authorities to renew the five per cent caps that applied to rent rises last year.
Rera, Dubai’s property market regulator, said a rental index would soon be released after approval from the Royal Court, and would provide price bands for various types of property in different areas of the city.
It is intended to give tenants a reliable source of information on the costs of accommodation in different neighbourhoods and act as a safeguard against greedy landlords, Rera said.
There has been no indication about this year’s rental legislation in Abu Dhabi but many expect the five per cent rent cap to be maintained because of the capital’s shortage of rentable housing.
Although rents declined in the latter months of last year, according to Asteco, average apartment prices in the capital increased significantly over the full 12 months.
Rents increased by between 80 per cent and 160 per cent in the 12 months starting December 2007, depending on the size of the apartment, the company’s report said. No quarterly comparison was available.
Rates for villas in Abu Dhabi experienced “steady growth”, with the highest increases being in Al Raha Gardens and Khalifa A, the report added. Rents for three-bedroom homes within these projects went up by 14 per cent and 16 per cent respectively, compared with the previous quarter.
The capital’s average annual rental rates for villas with three, four and five bedrooms were Dh375,000, Dh445,000 and Dh535,000 respectively.
Meanwhile, Al Ain’s residential market has also undergone a price rise due to bulk renting of apartments by companies, Asteco said.
Demand was further increased by Abu Dhabi and Dubai residents renting villas in Al Ain and commuting to offices in the UAE’s two largest cities.
Apartment rates in Al Ain continued to increase but were mostly lower than villa rentals.
Abu Umar : Sangsi dengan harga sewa turun...
Source: Thenational.ae //
By rditcham@thenational.ae
By rditcham@thenational.ae
Abu Dhabi // The rise in rent for many apartments in Dubai and Abu Dhabi slowed to a standstill in the last three months of the year, according to a new housing report, bringing relief to some tenants after years of soaring prices.
The average cost of renting a one-bedroom flat in Dubai rose by only four per cent last year and did not rise at all in the last three months, the UAE-based property services firm Asteco said in its fourth quarter report, which will be published in full today.
In Abu Dhabi, rents for units with two or three bedrooms also levelled off, although demand for smaller, less expensive homes pushed up prices for one-bedroom flats, the company said.
After years of extreme rental inflation, where average prices climbed by more than 100 per cent, it seemed the UAE would at last enjoy a sustained period of stability, Andrew Chambers, the managing director of Asteco, said yesterday.
“Certainly for the next three to nine months I don’t think there will be anything that will cause a move back to rapid inflation,” Mr Chambers said.
Some property analysts expect the market to soften further as redundancies and recruitment freezes lead to lower housing demand.
Myles Bush, the managing director of Powerhouse Properties, a Dubai-based estate agency, said the number of people starting new leases in Dubai was declining.
The cooling rental market, also a result of an increase in housing supply and prices having reached the limits of affordability, will bring some relief to tenants.
In addition, landlords are relaxing payment terms, allowing tenants to pay rent monthly, rather than with two or three cheques a year.
Jerome Abad, an Italian living in Dubai’s Jumeirah Beach Residence (JBR), said he was relieved that rents finally seemed to be easing.
“My landlord has set me a fair rent compared to market prices, which takes a weight off my mind,” Mr Abad said. “I certainly haven’t heard as many people complaining about their rent in the last six months as before.”
Meanwhile, an International City resident seeking to move to Discovery Gardens said he was quoted about Dh120,000 (US$32,671) in annual rent for a one-bedroom flat in August, but was asked for Dh80,000 to Dh85,000 this month.
“Rents seem to be staying the same in International City but going down in Discovery Gardens,” he said.
Average annual rent for studios, and apartments with one, two and three bedrooms in Dubai were Dh80,000, Dh123,000, Dh165,000 and Dh243,000 respectively, Asteco said.
Average rents for villas in Dubai climbed by just eight per cent between the third and fourth quarters of last year. The company did not release similar figures for the capital.
“A lot of this [stabilisation] has to do with new supply and tenants being unwilling to pay the extra,” Mr Chambers said.
“For the second and third quarters of 2008 the prices were too high to be sustainable and people couldn’t afford it, while in the last quarter people were perhaps leaving or stock was coming on the market.”
New housing has been delivered in projects such as International City and Discovery Gardens, both developed by the UAE-based Nakheel.
In addition, property owners in JBR who had been reluctant to put their homes on the rental market, preferring to watch them appreciate in price before selling, are now keen to earn rental income amid tumbling sales prices.
The trend has reduced pressure on Dubai and Abu Dhabi’s housing authorities to renew the five per cent caps that applied to rent rises last year.
Rera, Dubai’s property market regulator, said a rental index would soon be released after approval from the Royal Court, and would provide price bands for various types of property in different areas of the city.
It is intended to give tenants a reliable source of information on the costs of accommodation in different neighbourhoods and act as a safeguard against greedy landlords, Rera said.
There has been no indication about this year’s rental legislation in Abu Dhabi but many expect the five per cent rent cap to be maintained because of the capital’s shortage of rentable housing.
Although rents declined in the latter months of last year, according to Asteco, average apartment prices in the capital increased significantly over the full 12 months.
Rents increased by between 80 per cent and 160 per cent in the 12 months starting December 2007, depending on the size of the apartment, the company’s report said. No quarterly comparison was available.
Rates for villas in Abu Dhabi experienced “steady growth”, with the highest increases being in Al Raha Gardens and Khalifa A, the report added. Rents for three-bedroom homes within these projects went up by 14 per cent and 16 per cent respectively, compared with the previous quarter.
The capital’s average annual rental rates for villas with three, four and five bedrooms were Dh375,000, Dh445,000 and Dh535,000 respectively.
Meanwhile, Al Ain’s residential market has also undergone a price rise due to bulk renting of apartments by companies, Asteco said.
Demand was further increased by Abu Dhabi and Dubai residents renting villas in Al Ain and commuting to offices in the UAE’s two largest cities.
Apartment rates in Al Ain continued to increase but were mostly lower than villa rentals.
Abu Umar : Sangsi dengan harga sewa turun...
Mohammad orders cancellation of New Year celebrations
All New Year celebrations in Dubai has been cancelled as an act of solidarity with the Palestinian people.
Source : Gulfnews.com
Published: December 30, 2008, 20:37
Dubai: His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, has ordered the cancellation of all forms of celebrations marking the New Year in Dubai emirate, as an act of solidarity with the Palestinian people.
In support of the Palestinians in Gaza, who are enduring all kinds of killing, destruction and displacement by the Israeli military machinery, Shaikh Mohammad instructed all concerned authorities in Dubai to put this order in place and take necessary procedures to circulate the decision to all concerned parties.
Abu Umar : Tahniah diucapkan kepada Perdana Menteri UAE atas tindakan yang sangat memberangsangkan..!! Bagaimana dengan PM Malaysia?? Hmm...
Abu Dhabi to recycle all waste water
By Binsal Abdul Kader, Staff Reporter
Published: November 24, 2008, From Gulfnews.com
Abu Dhabi: Abu Dhabi will be recycling 100 cent per cent of its waste water by next year, a senior official told Gulf News on Monday.
"Now, two-thirds of waste water is recycled in the emirate," said Alan Thomson, Managing Director of Abu Dhabi Sewerage Service Company, a government-owned company dealing with sewerage treatment services.
He spoke to Gulf News on the sidelines of the Middle East Economic Digest's Waste Water Treatment and Reuse Conference 2008 which began in the capital yesterday.
Thomson said there is no plan to improve the standard of waste water recycling to produce potable water. "The present recycling system does not aim for potable water."
A proposed 15 kilometre sewage tunnel linking the Abu Dhabi mainland and island as part of Strategic Tunnel Enhancement Programme (Step) will improve the waste water treatment capacity of the emirate, said the official.
"Abu Dhabi's population is expected to double by 2020 and the amount of waste water will also increase proportionately."
Abu Umar : Jangan laaa depa ni nak tiru cam Singapura udah lee. Waste water dah convert jadi drinking water..ish2
December 8 to be first day of Eid Al Adha
Abu Dhabi: December 8 will be the first day of Eid Al Adha, according to the Islamic Crescents Monitoring Project.
Astronomical calculations have predicted that November 29 will be the first day of Zil Hijja.
On that day, sighting of the crescent will be endorsed in some Muslim countries to mark the beginning of the Hijri month.
The Islamic Crescents Monitoring Project was set up in 1998 and includes 400 scholars and moon-sighting experts
Astronomical calculations have predicted that November 29 will be the first day of Zil Hijja.
On that day, sighting of the crescent will be endorsed in some Muslim countries to mark the beginning of the Hijri month.
The Islamic Crescents Monitoring Project was set up in 1998 and includes 400 scholars and moon-sighting experts
