Used-car dealerships say they face a 50 per cent fall in profit this year as they are forced off Abu Dhabi island and made to set up shop at the nascent Motor World complex.
The dealers, who have a deadline of today to close their showrooms on the island and clear their stock from the capital's streets, say the level of rents at Motor World will make their business much less profitable this year.
Ahmed Ali Medrar, the manager of a used-car dealership on Airport Road, said he would try to sell the remaining 15 cars he owned and then start afresh in a new industry.
"The rental prices are very expensive at Motor World," he said. "I think I will try to sell them at another place, maybe in Mussaffah."
Mr Medrar said he made a Dh10,000 profit (US$2,722) each month and was paying Dh25,000 per year to lease a showroom on Airport Road but had been quoted Dh170,000 to Dh380,000 for a space at Motor World.
Used-car dealers must leave Abu Dhabi island and sell their vehicles elsewhere to free up hundreds of parking spaces for residents. Many of the dealers use parking spaces to display and store their inventory of vehicles, so government authorities have directed them to leave the island by today to make space.
Motor World, which is in Shamkah near the airport, was launched by the developer Aldar in April 2008, but was then put on hold while the company revised its plans after the property slowdown.
More than 100 used-car showrooms are available at the site.
Dealers are being asked to take up new space at the complex.
Dealers say Motor World needs better publicity and improved directional signs to the site from Abu Dhabi island. Otherwise, potential buyers will not hear about the complex or be able to find it, the dealers say.
"It's very expensive [at Motor World] compared to Abu Dhabi, and Abu Dhabi should be more expensive than there," said Rashid Al Mamari, the manager of 501 Cars, which sells Ferrari, Lamborghini and Rolls-Royce cars on Airport Road. He added that 501 would have to increase its prices and cut its margins to sell at Motor World.
"We need to sell luxury cars so we need [to] increase the price more and more," he said.
An Aldar official said comparing space on Abu Dhabi island and Motor World was not a "like-for-like comparison".
"Motor World is a dedicated, state-of-the-art development with ample indoor and outdoor exhibiting space, showrooms with varying sizes, ample visitor parking and facilities to meet the needs of both car dealers and their customers," the official said.
Dealers who had agreed to set up shop in Motor World expected profits to fall by more than half this year because few people knew about the complex and the overall market for used cars had weakened since a strong performance last year.
"We have booked a showroom. We have paid the rent," said one dealer who did not want to be named. "In the beginning we will lose business. In the future we hope it will be good."
Motor World aims to be a one-stop shop for all a customer's needs, including car dealerships, workshops, cafes, residences and insurance, registration and banking services.
"We are in the process of allocating space for three banks, ATM machines as well as insurance companies, coffee shops and prayer rooms," the Aldar official said.
But the project has is advancing at a slow pace and no new-car dealerships have started to set up shop at the complex.
Government officials visited Motor World last week, endorsing the project and its progress.
Mohammed Moneef Al Mansouri, the acting executive director of the Department of Economic Development's commercial affairs division, said the car showrooms on Abu Dhabi island must take necessary measures to move to the Motor World city and that it was now the "new headquarters" for dealers.
He added that at the end of last year there were 537 car dealers in Abu Dhabi emirate, with 367 in the capital.
A number of major dealers selling new cars have opened showrooms on or close to Abu Dhabi island in the past year.
In February, Abu Dhabi Motors opened the world's largest BMW showroom in Umm Al Nar, just off Abu Dhabi island. In September, Omeir Bin Youssef & Sons, which distributes Peugeot vehicles, opened a flagship showroom near the Corniche.
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Israel Palestine on Swedish TV 1958-1989
Director: Goran Hugo Olsson
Rating: 5/5
More coverage from the Future Forum
Confirmed%20bouts%20(more%20to%20be%20added)
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Fighter profiles
Gabrieli Pessanha (Brazil)
Reigning Abu Dhabi World Pro champion in the 95kg division, virtually unbeatable in her weight class. Known for her pressure game but also dangerous with her back on the mat.
Nathiely de Jesus, 23, (Brazil)
Two-time World Pro champion renowned for her aggressive game. She is tall and most feared by her opponents for both her triangles and arm-bar attacks.
Thamara Ferreira, 24, (Brazil)
Since her brown belt days, Ferreira has been dominating the 70kg, in both the World Pro and the Grand Slams. With a very aggressive game.
Samantha Cook, 32, (Britain)
One of the biggest talents coming out of Europe in recent times. She is known for a highly technical game and bringing her A game to the table as always.
Kendall Reusing, 22, (USA)
Another young gun ready to explode in the big leagues. The Californian resident is a powerhouse in the -95kg division. Her duels with Pessanha have been highlights in the Grand Slams.
Martina Gramenius, 32, (Sweden)
Already a two-time Grand Slam champion in the current season. Gramenius won golds in the 70kg, in both in Moscow and Tokyo, to earn a spot in the inaugural Queen of Mats.
The%20specs
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Leaderboard
63 - Mike Lorenzo-Vera (FRA)
64 - Rory McIlroy (NIR)
66 - Jon Rahm (ESP)
67 - Tom Lewis (ENG), Tommy Fleetwood (ENG)
68 - Rafael Cabrera-Bello (ESP), Marcus Kinhult (SWE)
69 - Justin Rose (ENG), Thomas Detry (BEL), Francesco Molinari (ITA), Danny Willett (ENG), Li Haotong (CHN), Matthias Schwab (AUT)
Company%20Profile
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The Bio
Favourite holiday destination: Either Kazakhstan or Montenegro. I’ve been involved in events in both countries and they are just stunning.
Favourite book: I am a huge of Robin Cook’s medical thrillers, which I suppose is quite apt right now. My mother introduced me to them back home in New Zealand.
Favourite film or television programme: Forrest Gump is my favourite film, that’s never been up for debate. I love watching repeats of Mash as well.
Inspiration: My late father moulded me into the man I am today. I would also say disappointment and sadness are great motivators. There are times when events have brought me to my knees but it has also made me determined not to let them get the better of me.
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Schedule:
Sept 15: Bangladesh v Sri Lanka (Dubai)
Sept 16: Pakistan v Qualifier (Dubai)
Sept 17: Sri Lanka v Afghanistan (Abu Dhabi)
Sept 18: India v Qualifier (Dubai)
Sept 19: India v Pakistan (Dubai)
Sept 20: Bangladesh v Afghanistan (Abu Dhabi) Super Four
Sept 21: Group A Winner v Group B Runner-up (Dubai)
Sept 21: Group B Winner v Group A Runner-up (Abu Dhabi)
Sept 23: Group A Winner v Group A Runner-up (Dubai)
Sept 23: Group B Winner v Group B Runner-up (Abu Dhabi)
Sept 25: Group A Winner v Group B Winner (Dubai)
Sept 26: Group A Runner-up v Group B Runner-up (Abu Dhabi)
Sept 28: Final (Dubai)
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SPECS
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TYPES%20OF%20ONLINE%20GIG%20WORK
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Company%20Profile
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COMPANY%20PROFILE
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World record transfers
1. Kylian Mbappe - to Real Madrid in 2017/18 - €180 million (Dh770.4m - if a deal goes through)
2. Paul Pogba - to Manchester United in 2016/17 - €105m
3. Gareth Bale - to Real Madrid in 2013/14 - €101m
4. Cristiano Ronaldo - to Real Madrid in 2009/10 - €94m
5. Gonzalo Higuain - to Juventus in 2016/17 - €90m
6. Neymar - to Barcelona in 2013/14 - €88.2m
7. Romelu Lukaku - to Manchester United in 2017/18 - €84.7m
8. Luis Suarez - to Barcelona in 2014/15 - €81.72m
9. Angel di Maria - to Manchester United in 2014/15 - €75m
10. James Rodriguez - to Real Madrid in 2014/15 - €75m
Dubai Rugby Sevens
November 30, December 1-2
International Vets
Christina Noble Children’s Foundation fixtures
Thursday, November 30:
10.20am, Pitch 3, v 100 World Legends Project
1.20pm, Pitch 4, v Malta Marauders
Friday, December 1:
9am, Pitch 4, v SBA Pirates
Greatest of All Time
Starring: Vijay, Sneha, Prashanth, Prabhu Deva, Mohan
Meydan card
6.30pm: Al Maktoum Challenge Round-1 (PA) Group 1 US$65,000 (Dirt) 1,600m
7.05pm: Conditions (TB) $100,000 (Turf) 1,400m
7.40pm: UAE 2000 Guineas Trial (TB) $100,000 (D) 1,600m
8.15pm: Handicap (TB) $175,000 (T) 1,200m
8.50pm: Al Maktoum Challenge Round-1 (TB) Group 2 $350,000 (D) 1,600m
9.25pm: Handicap (TB) $175,000 (D) 1,900m
10pm: Handicap (TB) $135,000 (T) 1,600m
Destroyer
Director: Karyn Kusama
Cast: Nicole Kidman, Toby Kebbell, Sebastian Stan
Rating: 3/5
UAE release: January 31
Company%20Profile
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UAE currency: the story behind the money in your pockets
Greatest Royal Rumble results
John Cena pinned Triple H in a singles match
Cedric Alexander retained the WWE Cruiserweight title against Kalisto
Matt Hardy and Bray Wyatt win the Raw Tag Team titles against Cesaro and Sheamus
Jeff Hardy retained the United States title against Jinder Mahal
Bludgeon Brothers retain the SmackDown Tag Team titles against the Usos
Seth Rollins retains the Intercontinental title against The Miz, Finn Balor and Samoa Joe
AJ Styles remains WWE World Heavyweight champion after he and Shinsuke Nakamura are both counted out
The Undertaker beats Rusev in a casket match
Brock Lesnar retains the WWE Universal title against Roman Reigns in a steel cage match
Braun Strowman won the 50-man Royal Rumble by eliminating Big Cass last
WHAT%20MACRO%20FACTORS%20ARE%20IMPACTING%20META%20TECH%20MARKETS%3F
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The 100 Best Novels in Translation
Boyd Tonkin, Galileo Press
MATCH INFO
World Cup qualifier
Thailand 2 (Dangda 26', Panya 51')
UAE 1 (Mabkhout 45 2')
The specs: 2018 Renault Megane
Price, base / as tested Dh52,900 / Dh59,200
Engine 1.6L in-line four-cylinder
Transmission Continuously variable transmission
Power 115hp @ 5,500rpm
Torque 156Nm @ 4,000rpm
Fuel economy, combined 6.6L / 100km
The specs
Price: From Dh529,000
Engine: 5-litre V8
Transmission: Eight-speed auto
Power: 520hp
Torque: 625Nm
Fuel economy, combined: 12.8L/100km
Company%20Profile
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