Burj Views tower in Downtown Burj Dubai in Dubai. Prices in parts of Downtown Burj Dubai have slid in the past the 12 months after surging 88 per cent in one year up to last September.
Burj Views tower in Downtown Burj Dubai in Dubai. Prices in parts of Downtown Burj Dubai have slid in the past the 12 months after surging 88 per cent in one year up to last September.

Emaar waives fees to spur property sales



Emaar hopes its offer to waive maintenance fees for a year will help it to sell empty new homes on the site of the world's tallest tower. Buyers of apartments in the Downtown Burj Dubai development will not be charged maintenance fees for the first year of ownership as the company tries to revive sales in the community, where prices have fallen by about 30 per cent since the peak of the market last year.

Investors will also benefit from access to mortgages of up to Dh2.5 million (US$681,000) for completed property across areas of the development including The Old Town, The Old Town Island, The Residences, Burj Views and South Ridge, as part of Emaar's Ramadan package. "These offers are part of our concerted efforts to support our customers and assure flexible and attractive options when making a purchase decision," said Ahmad al Matrooshi, the UAE managing director of Emaar Properties.

Prices in parts of Downtown Burj Dubai have slid in the past the 12 months after surging 88 per cent in one year up to September last year. According to a sales representative at Emaar, who asked not to be named, the price of a two-bedroom apartment in Old Town is between Dh2.2m and Dh2.8m, compared with between Dh3.8m and Dh4m a year ago. Meanwhile, two-bedroom homes in Burj Views are valued at Dh2.1m, while those in South Ridge are being sold for about Dh2.8m. A one-bedroom flat in The Old Town Island is selling for about Dh2.1m.

Maintenance fees can range between Dh15 and Dh20 per square foot at the development, said an agent at Black Stone Properties in Dubai, who asked not to be named. Waiving the fees, which pay for services such as security, rubbish removal and lift maintenance, may not affect sales, according to Iseeb Rehman, the managing director at Sherwoods property consultants. "Any incentive helps but maintenance fees have never been the central point for people looking for a quality property," Mr Rehman said. "The underlying price needs to be looked at, which is more important than incentives."

Other agents have said investors may now take advantage of the lower prices to buy property at the high-profile development before Burj Dubai, the tallest tower in the world, is completed at the end of the year. Emaar is also pushing incentives such as its rent-to-own scheme, which gives customer the opportunity to rent a home for one year and apply their rent to its purchase. "Downtown is probably the busiest district at the moment and has been for the last two months," said Gregory Antioch, a senior sales negotiator with Smith and Ken Real Estate.

"It was starting to slack a little but a lot more people are interested in the development now that Dubai Mall is open and Dubai Fountain is working. Prices will probably creep up a bit when the Burj opens." As community developments have been completed in Dubai, service charges have sometimes become a bone of contention for investors. In April, Salwan Property Management, which manages Jumeirah Beach Residences, reduced its service fees to Dh15.32 per sq ft after residents complained about a sharp rise to Dh21.75 per sq ft from Dh9.5 per sq ft.

Nakheel said in June it would cut fees at Discovery Gardens by Dh5 per sq ft after complaints from residents. agiuffrida@thenational.ae

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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.

The Case For Trump

By Victor Davis Hanson
 

Israel Palestine on Swedish TV 1958-1989

Director: Goran Hugo Olsson

Rating: 5/5

The bio

Favourite vegetable: Broccoli

Favourite food: Seafood

Favourite thing to cook: Duck l'orange

Favourite book: Give and Take by Adam Grant, one of his professors at University of Pennsylvania

Favourite place to travel: Home in Kuwait.

Favourite place in the UAE: Al Qudra lakes

HEADLINE HERE
  • I would recommend writing out the text in the body 
  • And then copy into this box
  • It can be as long as you link
  • But I recommend you use the bullet point function (see red square)
  • Or try to keep the word count down
  • Be wary of other embeds lengthy fact boxes could crash into 
  • That's about it
Company profile

Name: Tharb

Started: December 2016

Founder: Eisa Alsubousi

Based: Abu Dhabi

Sector: Luxury leather goods

Initial investment: Dh150,000 from personal savings

 

The Buckingham Murders

Starring: Kareena Kapoor Khan, Ash Tandon, Prabhleen Sandhu

Director: Hansal Mehta

Rating: 4 / 5

Panipat

Director Ashutosh Gowariker

Produced Ashutosh Gowariker, Rohit Shelatkar, Reliance Entertainment

Cast Arjun Kapoor, Sanjay Dutt, Kriti Sanon, Mohnish Behl, Padmini Kolhapure, Zeenat Aman

Rating 3 /stars

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Why your domicile status is important

Your UK residence status is assessed using the statutory residence test. While your residence status – ie where you live - is assessed every year, your domicile status is assessed over your lifetime.

Your domicile of origin generally comes from your parents and if your parents were not married, then it is decided by your father. Your domicile is generally the country your father considered his permanent home when you were born. 

UK residents who have their permanent home ("domicile") outside the UK may not have to pay UK tax on foreign income. For example, they do not pay tax on foreign income or gains if they are less than £2,000 in the tax year and do not transfer that gain to a UK bank account.

A UK-domiciled person, however, is liable for UK tax on their worldwide income and gains when they are resident in the UK.

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10 tips for entry-level job seekers
  • Have an up-to-date, professional LinkedIn profile. If you don’t have a LinkedIn account, set one up today. Avoid poor-quality profile pictures with distracting backgrounds. Include a professional summary and begin to grow your network.
  • Keep track of the job trends in your sector through the news. Apply for job alerts at your dream organisations and the types of jobs you want – LinkedIn uses AI to share similar relevant jobs based on your selections.
  • Double check that you’ve highlighted relevant skills on your resume and LinkedIn profile.
  • For most entry-level jobs, your resume will first be filtered by an applicant tracking system for keywords. Look closely at the description of the job you are applying for and mirror the language as much as possible (while being honest and accurate about your skills and experience).
  • Keep your CV professional and in a simple format – make sure you tailor your cover letter and application to the company and role.
  • Go online and look for details on job specifications for your target position. Make a list of skills required and set yourself some learning goals to tick off all the necessary skills one by one.
  • Don’t be afraid to reach outside your immediate friends and family to other acquaintances and let them know you are looking for new opportunities.
  • Make sure you’ve set your LinkedIn profile to signal that you are “open to opportunities”. Also be sure to use LinkedIn to search for people who are still actively hiring by searching for those that have the headline “I’m hiring” or “We’re hiring” in their profile.
  • Prepare for online interviews using mock interview tools. Even before landing interviews, it can be useful to start practising.
  • Be professional and patient. Always be professional with whoever you are interacting with throughout your search process, this will be remembered. You need to be patient, dedicated and not give up on your search. Candidates need to make sure they are following up appropriately for roles they have applied.

Arda Atalay, head of Mena private sector at LinkedIn Talent Solutions, Rudy Bier, managing partner of Kinetic Business Solutions and Ben Kinerman Daltrey, co-founder of KinFitz

UAE currency: the story behind the money in your pockets
Sun jukebox

Rufus Thomas, Bear Cat (The Answer to Hound Dog) (1953)

This rip-off of Leiber/Stoller’s early rock stomper brought a lawsuit against Phillips and necessitated Presley’s premature sale to RCA.

Elvis Presley, Mystery Train (1955)

The B-side of Presley’s final single for Sun bops with a drummer-less groove.

Johnny Cash and the Tennessee Two, Folsom Prison Blues (1955)

Originally recorded for Sun, Cash’s signature tune was performed for inmates of the titular prison 13 years later.

Carl Perkins, Blue Suede Shoes (1956)

Within a month of Sun’s February release Elvis had his version out on RCA.

Roy Orbison, Ooby Dooby (1956)

An essential piece of irreverent juvenilia from Orbison.

Jerry Lee Lewis, Great Balls of Fire (1957)

Lee’s trademark anthem is one of the era’s best-remembered – and best-selling – songs.


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