Work has been completed on the Victory Heights residential community in Dubai Sports City, more than six years after the project’s launch.
“We are very pleased to have completed this landmark development during a period saddled by global financial crisis and volatility in the Dubai real estate market,” said Yasser Abdulrahman Al Raee, the development’s general manager.
Victory Heights residential community was launched in October 2007, forming part of Dubai Sports City, a Dubailand project. The community is a joint venture initiative between Dubai Sports City and the Bahraini bank Arcapita.
Dubai Sports City was one of the hardest hit by the emirate’s real estate crisis of late 2008 onwards.
Although key developments such as Dubai International Cricket Stadium and the Els Golf Club have now been completed, many remain incomplete or have been shelved.
“Sports City today is less and less to do with sports and hospitality, as was originally envisioned, and is now much more of a residential development,” said Matthew Green, the head of research and consultancy at CBRE in Dubai.
Victory Heights comprises 961 villas and townhouses, ranging in size between 2,521 square feet and 6,661 sq ft.
Mr Green noted that developments such as Victory Heights and Jumeirah Village have become increasingly popular in recent months, as occupiers look for more affordable options.
“There’s still plenty of work in the area that’s yet to be completed, but there’s been a lot of improvement,” he said. “Over the next 12-18 months it will become a lot more liveable.”
Prices per square foot in Victory Heights increased to Dh1,000 in the third quarter of last year, a quarterly percentage growth of 18 per cent, according to Asteco.
However, prices remain 38 per cent lower than at their peak in the third quarter of 2008.
jeverington@thenational.ae
In-demand jobs and monthly salaries
- Technology expert in robotics and automation: Dh20,000 to Dh40,000
- Energy engineer: Dh25,000 to Dh30,000
- Production engineer: Dh30,000 to Dh40,000
- Data-driven supply chain management professional: Dh30,000 to Dh50,000
- HR leader: Dh40,000 to Dh60,000
- Engineering leader: Dh30,000 to Dh55,000
- Project manager: Dh55,000 to Dh65,000
- Senior reservoir engineer: Dh40,000 to Dh55,000
- Senior drilling engineer: Dh38,000 to Dh46,000
- Senior process engineer: Dh28,000 to Dh38,000
- Senior maintenance engineer: Dh22,000 to Dh34,000
- Field engineer: Dh6,500 to Dh7,500
- Field supervisor: Dh9,000 to Dh12,000
- Field operator: Dh5,000 to Dh7,000
Company%20Profile
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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
Confirmed%20bouts%20(more%20to%20be%20added)
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How does ToTok work?
The calling app is available to download on Google Play and Apple App Store
To successfully install ToTok, users are asked to enter their phone number and then create a nickname.
The app then gives users the option add their existing phone contacts, allowing them to immediately contact people also using the application by video or voice call or via message.
Users can also invite other contacts to download ToTok to allow them to make contact through the app.
In Full Flight: A Story of Africa and Atonement
John Heminway, Knopff
COMPANY%20PROFILE
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HAJJAN
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Why it pays to compare
A comparison of sending Dh20,000 from the UAE using two different routes at the same time - the first direct from a UAE bank to a bank in Germany, and the second from the same UAE bank via an online platform to Germany - found key differences in cost and speed. The transfers were both initiated on January 30.
Route 1: bank transfer
The UAE bank charged Dh152.25 for the Dh20,000 transfer. On top of that, their exchange rate margin added a difference of around Dh415, compared with the mid-market rate.
Total cost: Dh567.25 - around 2.9 per cent of the total amount
Total received: €4,670.30
Route 2: online platform
The UAE bank’s charge for sending Dh20,000 to a UK dirham-denominated account was Dh2.10. The exchange rate margin cost was Dh60, plus a Dh12 fee.
Total cost: Dh74.10, around 0.4 per cent of the transaction
Total received: €4,756
The UAE bank transfer was far quicker – around two to three working days, while the online platform took around four to five days, but was considerably cheaper. In the online platform transfer, the funds were also exposed to currency risk during the period it took for them to arrive.
Company%20Profile
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COMPANY%20PROFILE%20
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Challenge Cup result:
1. UAE 3 faults
2. Ireland 9 faults
3. Brazil 11 faults
4. Spain 15 faults
5. Great Britain 17 faults
6. New Zealand 20 faults
7. Italy 26 faults
Anghami
Started: December 2011
Co-founders: Elie Habib, Eddy Maroun
Based: Beirut and Dubai
Sector: Entertainment
Size: 85 employees
Stage: Series C
Investors: MEVP, du, Mobily, MBC, Samena Capital
Seven tips from Emirates NBD
1. Never respond to e-mails, calls or messages asking for account, card or internet banking details
2. Never store a card PIN (personal identification number) in your mobile or in your wallet
3. Ensure online shopping websites are secure and verified before providing card details
4. Change passwords periodically as a precautionary measure
5. Never share authentication data such as passwords, card PINs and OTPs (one-time passwords) with third parties
6. Track bank notifications regarding transaction discrepancies
7. Report lost or stolen debit and credit cards immediately
First Person
Richard Flanagan
Chatto & Windus
COMPANY%20PROFILE
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West Asia Premiership
Dubai Hurricanes 58-10 Dubai Knights Eagles
Dubai Tigers 5-39 Bahrain
Jebel Ali Dragons 16-56 Abu Dhabi Harlequins
The%20specs
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UAE currency: the story behind the money in your pockets
BEETLEJUICE BEETLEJUICE
Starring: Winona Ryder, Michael Keaton, Jenny Ortega
Director: Tim Burton
Rating: 3/5
SPEC%20SHEET
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Racecard
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Scorline
Iraq 1-0 UAE
Iraq Hussein 28’
Company%20Profile
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