Dubai’s developers are missing a trick when targeting Chinese buyers by failing to capitalise on the emirate’s strength as a higher education hub, according to Juwai.com.
The company, which specialises in marketing international properties to Chinese buyers, said that although a number of developers had taken the plunge in targeting Chinese investors for their projects, few were doing it successfully enough.
Bernie Morris, Juwai.com’s president for the UK, Europe and the Middle East, said: “What we find is a bit of a missed opportunity is that one of the major drivers for Chinese investors is education. Obviously, both Dubai and Abu Dhabi have invested quite heavily in bringing in some high-class education facilities. Presenting that and offering it to the Chinese in an effective way will certainly help to drive demand for property investment.”
He added: “We see it even in Manchester, London, Oxford, Cambridge. What will happen is mum and dad will come and buy an apartment for their kid to study in, and they will also buy an apartment for them to stay in when they visit. Very often they will buy a third for investment.
“And some of these families are planning years ahead. They know they want their son to be an engineer in whatever field it is going to be, and they will decide where they want their kids to go and target one or two universities. They’ll buy a flat in anticipation of that now even though their son is only two or three years old. And they will rent it out as an investment.”
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Photo gallery
■ New property projects at Cityscape Global 2016 in Dubai – in pictures
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Juwai.com has just produced a new UAE Chinese Property report which highlights Land Department figures showing Dh1 billion worth of investment by Chinese buyers in Dubai property in the first six months of 2016. It also pointed to the fact that Dubai’s Chinese population grew by 53 per cent last year – to 253,000.
It said that Dubai has 26 branch universities from international universities from 11 countries, including the US and Canada, and that the first Chinese International School is set to open in the emirate next year.
Mr Morris said that for Chinese parents, Dubai is much closer than sending children to the UK, and that it has an infrastructure that is more accommodating to buyers looking to get their money out of China.
“Locals are quite accommodating in terms of helping you transferring funds, which can be more difficult in other jurisdictions,” he said.
Juwai.com’s report states that for Chinese buyers already active in the Dubai market, rental yields are a major selling point, with the UAE offering average yields of about 6 per cent, compared with about 3.3 per cent in London and 2.75 per cent in New York or Hong Kong. Downtown Dubai remains the favoured area, alongside Palm Jumeirah and Mohammed bin Rashid City.
Juwai.com has signed a number of agreements with companies based in Dubai within the past year, including developer Damac and the owner of the Justproperty.com portal, JRD Group. It has said that search hits for Dubai property on its site are 85.3 per cent higher over the past 12 months compared to the previous year.
Speaking at the Cityscape Global conference on Monday, Majid Saqeer, a senior director of Dubai Land Department’s real estate promotion division, said that China and India were its two key markets in terms of promoting Dubai as a real estate investment destination.
“We have an exhibition in December in India, and an exhibition in March 2017 in China.”
mfahy@thenational.ae
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World Cup warm-up fixtures
Friday, May 24:
- Pakistan v Afghanistan (Bristol)
- Sri Lanka v South Africa (Cardiff)
Saturday, May 25
- England v Australia (Southampton)
- India v New Zealand (The Oval, London)
Sunday, May 26
- South Africa v West Indies (Bristol)
- Pakistan v Bangladesh (Cardiff)
Monday, May 27
- Australia v Sri Lanka (Southampton)
- England v Afghanistan (The Oval, London)
Tuesday, May 28
- West Indies v New Zealand (Bristol)
- Bangladesh v India (Cardiff)
BEETLEJUICE BEETLEJUICE
Starring: Winona Ryder, Michael Keaton, Jenny Ortega
Director: Tim Burton
Rating: 3/5
How to wear a kandura
Dos
- Wear the right fabric for the right season and occasion
- Always ask for the dress code if you don’t know
- Wear a white kandura, white ghutra / shemagh (headwear) and black shoes for work
- Wear 100 per cent cotton under the kandura as most fabrics are polyester
Don’ts
- Wear hamdania for work, always wear a ghutra and agal
- Buy a kandura only based on how it feels; ask questions about the fabric and understand what you are buying
COMPANY PROFILE
Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
Total funding: Self funded
A meeting of young minds
The 3,494 entries for the 2019 Sharjah Children Biennial come from:
435 – UAE
2,000 – China
808 – United Kingdom
165 – Argentina
38 – Lebanon
16 – Saudi Arabia
16 – Bangladesh
6 – Ireland
3 – Egypt
3 – France
2 – Sudan
1 – Kuwait
1 – Australia
COMPANY%20PROFILE
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COMPANY%20PROFILE
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The Buckingham Murders
Starring: Kareena Kapoor Khan, Ash Tandon, Prabhleen Sandhu
Director: Hansal Mehta
Rating: 4 / 5
The specs
Engine: 2.0-litre 4-cylinder turbo hybrid
Transmission: eight-speed automatic
Power: 390bhp
Torque: 400Nm
Price: Dh340,000 ($92,579
TO ALL THE BOYS: ALWAYS AND FOREVER
Directed by: Michael Fimognari
Starring: Lana Condor and Noah Centineo
Two stars
The Penguin
Starring: Colin Farrell, Cristin Milioti, Rhenzy Feliz
Creator: Lauren LeFranc
Rating: 4/5
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)
if you go
The flights
The closest international airport to the TMB trail is Geneva (just over an hour’s drive from the French ski town of Chamonix where most people start and end the walk). Direct flights from the UAE to Geneva are available with Etihad and Emirates from about Dh2,790 including taxes.
The trek
The Tour du Mont Blanc takes about 10 to 14 days to complete if walked in its entirety, but by using the services of a tour operator such as Raw Travel, a shorter “highlights” version allows you to complete the best of the route in a week, from Dh6,750 per person. The trails are blocked by snow from about late October to early May. Most people walk in July and August, but be warned that trails are often uncomfortably busy at this time and it can be very hot. The prime months are June and September.
Company%20profile
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COMPANY%20PROFILE%20
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Israel Palestine on Swedish TV 1958-1989
Director: Goran Hugo Olsson
Rating: 5/5
ROUTE%20TO%20TITLE
%3Cp%3E%3Cstrong%3ERound%201%3A%3C%2Fstrong%3E%20Beat%20Leolia%20Jeanjean%206-1%2C%206-2%3Cbr%3E%3Cstrong%3ERound%202%3A%20%3C%2Fstrong%3EBeat%20Naomi%20Osaka%207-6%2C%201-6%2C%207-5%3Cbr%3E%3Cstrong%3ERound%203%3A%20%3C%2Fstrong%3EBeat%20Marie%20Bouzkova%206-4%2C%206-2%3Cbr%3E%3Cstrong%3ERound%204%3A%3C%2Fstrong%3E%20Beat%20Anastasia%20Potapova%206-0%2C%206-0%3Cbr%3E%3Cstrong%3EQuarter-final%3A%20%3C%2Fstrong%3EBeat%20Marketa%20Vondrousova%206-0%2C%206-2%3Cbr%3E%3Cstrong%3ESemi-final%3A%20%3C%2Fstrong%3EBeat%20Coco%20Gauff%206-2%2C%206-4%3Cbr%3E%3Cstrong%3EFinal%3A%3C%2Fstrong%3E%20Beat%20Jasmine%20Paolini%206-2%2C%206-2%3C%2Fp%3E%0A
The Perfect Couple
Starring: Nicole Kidman, Liev Schreiber, Jack Reynor
Creator: Jenna Lamia
Rating: 3/5
Leading all-time NBA scorers
Kareem Abdul-Jabbar 38,387
Karl Malone 36,928
Kobe Bryant 33,643
Michael Jordan 32,292
LeBron James 31,425
Wilt Chamberlain 31,419
JAPANESE GRAND PRIX INFO
Schedule (All times UAE)
First practice: Friday, 5-6.30am
Second practice: Friday, 9-10.30am
Third practice: Saturday, 7-8am
Qualifying: Saturday, 10-11am
Race: Sunday, 9am-midday
Race venue: Suzuka International Racing Course
Circuit Length: 5.807km
Number of Laps: 53
Watch live: beIN Sports HD
GOLF’S RAHMBO
- 5 wins in 22 months as pro
- Three wins in past 10 starts
- 45 pro starts worldwide: 5 wins, 17 top 5s
- Ranked 551th in world on debut, now No 4 (was No 2 earlier this year)
- 5th player in last 30 years to win 3 European Tour and 2 PGA Tour titles before age 24 (Woods, Garcia, McIlroy, Spieth)
Company%20profile
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Killing of Qassem Suleimani