A High Court judge ruled in favour of a widow of late Saudi King Fahd bin Abdulaziz Al Saud on Tuesday in a three-year ownership battle over a 10-bedroom mansion on London’s "billionaires’ row".
The house on Bishops Avenue was signed over to Ms Al Jawharah bint Ibrahim Abdulaziz Al Ibrahim in 2011 by a Lichtenstein-based foundation set up to manage the foreign property portfolio of the late king. It was valued that year at £28 million (Dh134m), according to property records.
The transfer of Kenstead Hall was said to have been made based on instructions given by the late king before he died in 2005, according to court papers.
But the foundation challenged the transfer following a dispute between different branches of the Saudi royal family, said lawyers for the king’s widow. The UK court put a block on the sale of the property pending the outcome of the case.
The judge, Edward Cousins, struck out the case saying that the legal action brought by the Asturion Fondation had been dragged out for too long. He ordered the foundation to pay £100,000 in costs to the king’s widow.
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Read more:
No sign of Brexit blues as London property deals rake in £5.6 billion
London still 'hotspot' for GCC's wealthy investors, says Cluttons
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The property, Kenstead Hall, described as a mock Tudor mansion, is one of a number of Middle East-owned properties on Bishops Avenue, which runs from Hampstead Heath to East Finchley. It is considered one of the wealthiest streets in the world.
“It’s one of the best-known roads in the world and ranks alongside Rodeo Drive and Wall Street,” said Trevor Abrahmsohn, founder of property company Glentree International, who specialises in house sales on the road.
Although the owners on the street represent a roll-call of the world’s mega-rich and include business tycoons and royalty, a third of the properties are unoccupied and many are running to ruin, according to a newspaper investigation in 2014.
The fast-growth of property prices since the 1980's has made the properties highly-profitable assets despite the poor state of some.
Kenstead Hall was purchased by the Saudi royal family in the 1970's, according to Mr Abrahmsohn, who added the property was in need of renovation and restoration. It is still, however, estimated to have increased in value tenfold since it was reportedly bought for £2.7 million.
Property website Zoopla said there had been 11 sales on the road in the past five years, at an average price of more than £8 million. Some of the houses are being converted into flats as part of redevelopment work in the area.
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MATCH INFO
Jersey 147 (20 overs)
UAE 112 (19.2 overs)
Jersey win by 35 runs
No_One Ever Really Dies
N*E*R*D
(I Am Other/Columbia)
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SPECS
Engine: 4-litre V8 twin-turbo
Power: 630hp
Torque: 850Nm
Transmission: 8-speed Tiptronic automatic
Price: From Dh599,000
On sale: Now
The specs
Engine: 1.5-litre turbo
Power: 181hp
Torque: 230Nm
Transmission: 6-speed automatic
Starting price: Dh79,000
On sale: Now
The specs
Engine: 2.7-litre 4-cylinder Turbomax
Power: 310hp
Torque: 583Nm
Transmission: 8-speed automatic
Price: From Dh192,500
On sale: Now
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Arabian Gulf Cup FINAL
Al Nasr 2
(Negredo 1, Tozo 50)
Shabab Al Ahli 1
(Jaber 13)
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How to protect yourself when air quality drops
Install an air filter in your home.
Close your windows and turn on the AC.
Shower or bath after being outside.
Wear a face mask.
Stay indoors when conditions are particularly poor.
If driving, turn your engine off when stationary.
The specs
Engine: 3.0-litre six-cylinder turbo
Power: 398hp from 5,250rpm
Torque: 580Nm at 1,900-4,800rpm
Transmission: Eight-speed auto
Fuel economy, combined: 6.5L/100km
On sale: December
Price: From Dh330,000 (estimate)
What is the FNC?
The Federal National Council is one of five federal authorities established by the UAE constitution. It held its first session on December 2, 1972, a year to the day after Federation.
It has 40 members, eight of whom are women. The members represent the UAE population through each of the emirates. Abu Dhabi and Dubai have eight members each, Sharjah and Ras al Khaimah six, and Ajman, Fujairah and Umm Al Quwain have four.
They bring Emirati issues to the council for debate and put those concerns to ministers summoned for questioning.
The FNC’s main functions include passing, amending or rejecting federal draft laws, discussing international treaties and agreements, and offering recommendations on general subjects raised during sessions.
Federal draft laws must first pass through the FNC for recommendations when members can amend the laws to suit the needs of citizens. The draft laws are then forwarded to the Cabinet for consideration and approval.
Since 2006, half of the members have been elected by UAE citizens to serve four-year terms and the other half are appointed by the Ruler’s Courts of the seven emirates.
In the 2015 elections, 78 of the 252 candidates were women. Women also represented 48 per cent of all voters and 67 per cent of the voters were under the age of 40.
The biog
Alwyn Stephen says much of his success is a result of taking an educated chance on business decisions.
His advice to anyone starting out in business is to have no fear as life is about taking on challenges.
“If you have the ambition and dream of something, follow that dream, be positive, determined and set goals.
"Nothing and no-one can stop you from succeeding with the right work application, and a little bit of luck along the way.”
Mr Stephen sells his luxury fragrances at selected perfumeries around the UAE, including the House of Niche Boutique in Al Seef.
He relaxes by spending time with his family at home, and enjoying his wife’s India cooking.
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The Gentlemen
Director: Guy Ritchie
Stars: Colin Farrell, Hugh Grant
Three out of five stars
Moon Music
Artist: Coldplay
Label: Parlophone/Atlantic
Number of tracks: 10
Rating: 3/5
Israel Palestine on Swedish TV 1958-1989
Director: Goran Hugo Olsson
Rating: 5/5
BEETLEJUICE BEETLEJUICE
Starring: Winona Ryder, Michael Keaton, Jenny Ortega
Director: Tim Burton
Rating: 3/5
COMPANY%20PROFILE%20
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The Penguin
Starring: Colin Farrell, Cristin Milioti, Rhenzy Feliz
Creator: Lauren LeFranc
Rating: 4/5
What%20is%20cystic%20fibrosis%3F
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Joker: Folie a Deux
Starring: Joaquin Phoenix, Lady Gaga, Brendan Gleeson
Director: Todd Phillips
Rating: 2/5
The%20specs%20
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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.
UPI facts
More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions
KLOPP%20AT%20LIVERPOOL
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