Latest news with #Arada
The National
2 days ago
- Business
- The National
UAE investors warn about red flags to avoid in a property transaction
Gunjan Chaurasia, a Dubai resident since 2006, purchased a four-bedroom villa in Sharjah's Masaar 2 community for more than Dh4 million ($1.08 million) in March. The project is scheduled to be delivered in 2027. The Canadian, 41, decided to buy based on the project's amenities and facilities, developer Arada's credentials and infrastructure around the community. She also owns apartments in Dubai's Jumeirah Lakes Towers, India and Canada. Citing the biggest red flag to a property purchase, she says if something sounds too good to be true, it probably is. If a property is big in size, but comes at a very low price point, then there is a hidden issue that you're not aware of, she warns. 'Another issue is that a lot of buyers look at the price of the unit, but don't look at the service charges. Also, always check the price per square foot. A unit may be very reasonably priced, but the area may be small,' she says. 'Always go for a good location and a good building. You need to check for plumbing and do a thorough inspection, but I wouldn't be too concerned about the cabinet colour, for instance, because these issues can be fixed. Most importantly, check the surrounding infrastructure, facilities and amenities such as schools, hospitals, entry and exit points.' Last month, a report by New York-based Fitch Ratings predicted that Dubai's real estate market would enter a 'moderate correction' in the second half of 2025 as a record number of projects launch. The ratings agency also estimated that residential prices could fall by as much as 15 per cent this year. However, industry experts remain confident in the market's potential, citing Dubai's record population growth, continuing housing demand and maturing real estate sector as indicators that any correction will likely be moderate. Clarity of purpose Ms Chaurasia urges buyers to always think about the reason behind their property purchase. Agreeing with her, P.P. Varghese, head of professional services at Cushman & Wakefield Core, says that for investment purchases, the decision framework should follow yields. The rule of thumb is straightforward: if your rental yield can cover your mortgage, you have a sustainable foundation. If the rent cannot cover your mortgage payments, the investment must make sense purely as a capital appreciation play, he says. The ideal scenario combines sufficient yield to cover the mortgage with surplus cash flow, plus capital appreciation potential, he reckons. For end-use purchases, Mr Varghese urges buyers to start by identifying their purchasing power, then take a look at whether that price point can achieve their dream home. Ms Chaurasia warns buyers not to overleverage and have a financial backup to service their mortgage in case of an emergency. Have an idea of what percentage of your income you can commit towards housing, she adds. Developer's track record Similarly, Elena Yurgeneva, a property owner, deters people from buying from a developer with no proven track record in the UAE. 'If you can't physically visit or verify their previous projects, it becomes very hard to assess build quality, delivery timelines, or even how reliable they are in honouring handover commitments,' she says. Citing a 'regrettable investment' in the Golf Views project by Seven Tides, Ms Yurgeneva says construction has been delayed multiple times and is currently stalled. 'The project has been frozen at least twice since my purchase, and to date, there's no clear communication or visible progress on site. It's a painful reminder that even projects that look promising on paper can face serious execution risks,' she warns. When purchasing property anywhere in the world, including the UAE, buyers should watch for red flags across all stages of the transaction. These could manifest as disparities between listings and viewings, poor maintenance and high-pressure sales tactics, among others. Inspect broker credentials Even within Dubai's structured and well-regulated real estate market, the margin for error lies in process shortcuts, documentation gaps and intermediary inconsistencies, explains Farooq Syed, chief executive of Springfield Properties. 'In Dubai, all brokers are required to be licensed by the Real Estate Regulatory Agency. Buyers should always request the broker's Rera ID. A lack of transparency around this, refusal to facilitate physical viewing, or reliance on heavily staged or misleading visuals should be treated as a red flag,' he warns. 'Payment channels are equally non-negotiable. In the off-plan segment, the project must be officially registered with the Dubai Land Department, and all payments are to be made directly to the project's escrow account. For resale transactions, payment must be made directly to the seller, not to the broker or any third-party entity.' Unpaid service charges Zacky Sajjad, director of business development and client relations at property consultancy Cavendish Maxwell, picks legal issues such as unpaid service charges, unresolved mortgages, or invalid power of attorney as some risks, and also building-level concerns like developer or owner's association disputes, excessive service charges, and incomplete utility connections. He also urges caution dealing with offshore ownership structures. To mitigate these risks, buyers should always engage a licensed conveyancer or valuer, insist on official Rera forms and no-objection certificates, and verify the property's legal ownership, title deed and presence of any mortgage or disputes by scanning its QR code through the DLD or the Dubai Rest app, Mr Sajjad recommends. Request a formal, RICS-compliant or bank-approved valuation before agreeing to the price, he adds. Also, inspect the property in person to confirm condition, maintenance and ensure everything is as per the listing. Understand total cost of ownership One of the biggest risks for any buyer is pricing decisions driven by sentiment rather than data, Mr Varghese warns. Valuations should be anchored to recent comparable sales, rental yields and projected supply, particularly for off-plan properties, he explains. Buyers must also remember that the total cost of ownership extends beyond service charges to include maintenance reserves, insurance, potential major repairs (especially for older buildings), while for new developments, it includes community fees, sinking funds and utility connections, according to Mr Varghese. 'For investment properties, factor in vacancy periods and property management costs. These hidden costs can significantly erode returns if not properly accounted for upfront,' he says. Confirm handover timelines Mr Syed of Springfield Properties says completion dates must be clearly defined and contractually stated in off-plan deals. A lack of specificity around handover timelines should be treated as a material risk, he warns. 'In investment properties, tenancy terms must be reviewed. Properties with unpaid rents, invalid eviction notices, or leases that fall short of the legal 90-day notice requirement may lead to complications post-transfer,' he says. 'Similarly, unauthorised modifications, particularly in villas, should be reviewed closely. A snagging expert can help identify defects or alterations not captured in the marketing narrative.' Consider area development Mr Varghese warns buyers not to avoid undertaking due diligence on area development. Understand the broader area's development pipeline, as oversupply can hurt both rental yields and capital appreciation, he says. Research infrastructure development plans, new transport links, and zoning changes that could enhance or diminish property values over your intended holding period, he adds. 'Beyond price, buyers should negotiate holistically: payment schedules, escrow arrangements, delivery guarantees, and any fit-out or completion obligations can carry substantial financial implications and should be scrutinised as part of any transaction,' he suggests. Tips for non-resident UAE investors While there are no hidden fees for non-resident UAE investors, broker commission, DLD registration and trustee fees apply as standard, Mr Syed says. However, he warns that paperwork requirements can be extensive and processing may take longer due to additional documentation. Mortgage access remains limited for non-residents, and timelines may be affected depending on nationality, financing method and complexity of regulatory approvals, he explains. Cross-border fund transfers may also be subject to regulatory or institutional constraints, he adds.
The National
04-06-2025
- Entertainment
- The National
Where to watch Eid Al Adha 2025 fireworks in the UAE
Both private and public sector workers in the UAE have been granted a long weekend for Eid Al Adha, with the public holiday starting on Thursday, June 5. The religious festival officially begins on Friday, June 6 and runs until Sunday, June 8. Fewer venues than usual have announced plans to put on a fireworks display to mark Eid Al Adha this year, but some places will still be lighting up the sky and putting on a show. Fireworks in Abu Dhabi Yas Bay Waterfront Yas Bay Waterfront will host fireworks on Friday, Saturday and Sunday, starting at 9pm. It is free of charge, but a more comfortable viewing experience can be secured by booking a table at a surrounding restaurant like Daikan, Bua Thai Cafe, Cafe Del Mar Abu Dhabi, Barbossa or Paradiso. Fireworks in Dubai Riverland Dubai Riverland, located within the Dubai Parks and Resorts complex, is celebrating with daily laser shows at 7.30pm and 8.30pm, and adds a fireworks display at 9.30pm. Park entry costs will apply. Fireworks in Sharjah Developer Arada has put together a series of celebrations at its Sharjah communities Aljada, Masaar and Nasma Residences, including fireworks. They will take place at 8pm on Friday, lighting up the skies above Aljada, while family-friendly celebrations will run from 6pm to 10pm daily across all three days of the Eid holiday. No fireworks A number of popular locations have confirmed to The National that there will be no fireworks for Eid Al Adha due to the hot weather. These include Dubai locations such as The Beach in JBR and Bluewaters Island. The adventure-focused Hudayriyat Island in Abu Dhabi has also said it will not host displays this Eid.
Arabian Business
04-06-2025
- Business
- Arabian Business
Australia
AED47 million recapitalisation secures over 700 jobs as Arada strengthens position in Australia; move lays groundwork for Roberts Co to eventually expand into the UAE
Sharjah 24
03-06-2025
- Entertainment
- Sharjah 24
Arada to celebrate Eid Al Adha with fireworks at Aljada
Fireworks will take place at 8pm on 6 June, lighting up the skies above Aljada. Family-friendly celebrations will run from 6pm-10pm daily across all three days of the Eid holiday, offering a festive and welcoming atmosphere for residents and visitors alike. At Aljada, events will be centered around Madar, the popular family entertainment hub. In Masaar, festivities will unfold near the children's adventure playground, while the 15-metre high manmade hill will be the heart of the celebration at Nasma Residences. Guests can enjoy a full programme of live entertainment, including traditional theatrical shows and roaming parades, with multiple performances by six costumed artists each day. Family-friendly activities include kids' arts and crafts workshops, drumming sessions and interactive performances by Mario & Omar. In addition, Manbat farmers' markets at Aljada, Masaar and Nasma Residences will offer Emirati sweets such as luqaimat, ruqaq and balaleet. Ahmed Alkhoshaibi, Group CEO of Arada, said: 'Eid is a time for joy, reflection, and togetherness. At Arada, we are proud to deliver meaningful and memorable holiday experiences in beautifully landscaped settings, creating spaces that bring communities together.' All Eid Al Adha events are free and open to both residents and the general public, underscoring Arada's commitment to community engagement across its developments.
What's On
03-06-2025
- Entertainment
- What's On
Where to watch Eid Al Adha fireworks across the UAE
Ready for a sky full of sparkle… Want to celebrate Eid Al Adha with fireworks? You will be spoiled for choice here in the UAE. Whether you're in Dubai, Abu Dhabi, or Sharjah, we've rounded up all the best spots to catch the festive magic. Get your phones ready, gather your crew, and let's make it a night to remember! Eid Al Adha fireworks in Abu Dhabi Yas Island Why celebrate one night when you can do three? From Friday, June 6, to Sunday, June 8, Yas Island is putting on a fireworks fiesta at 9pm each night. Grab a seat at Yas Bay Waterfront and pair the views with dinner at one of the area's award-winning restaurants. Fireworks and fine dining are a chef's kiss recipe. The Corniche If you're city-bound, The Corniche is the place to be on Friday, June 6. The scenic seaside promenade offers prime fireworks watching. Al Ain – Hazza Bin Zayed Stadium Al Ain folks, you're not left out! Catch three nights of sparkling skies at Hazza Bin Zayed Stadium at 9pm, all throughout the Eid holiday. Reem Island If your vibe is low-key luxury, Reem Island has you covered. This tranquil green haven offers wide-open views and a peaceful atmosphere for families and friends to enjoy the fireworks together. It's the ultimate laid-back celebration spot. Hudayriyat Island Turn your Eid evening into an adventure on Hudayriyat Island. With street food, seafront views, and loads of space to picnic, it's a family fave for good reason. Don't forget your camera; these fireworks are Insta-gold. Eid Al Adha fireworks in Dubai Riverland, Dubai Parks and Resorts Riverland is bringing double the dazzle this Eid! Head over on Thursday, June 5, and Friday, June 6, for jaw-dropping fireworks at 9pm. But wait, there's more… Before the sky lights up, enjoy not one, not two, but three epic laser shows at 7.30pm, 8.20pm, and 9.30pm. You'll feel like you're in a sci-fi movie with snacks. Eid Al Adha fireworks in Sharjah Aljada, Masaar & Nasma Residences Community vibes are in full force across Sharjah, thanks to Arada's festive lineup. Expect fireworks at 8pm on Friday, June 6, at Aljada, plus a packed schedule of parades, live shows, and traditional arts and crafts from 6pm to 10pm this weekend. At Aljada, the fun's centered around Madar , their buzzing family zone. In Masaar, festivities unfold near the adventure playground, while the 15-metre high manmade hill will be the heart of the celebration at Nasma Residences. Oh, and did we mention it's free and open to everyone! Expect live music, drumming circles, and even traditional Emirati treats at the Manbat farmers' market. Because nothing says Eid like luqaimat and fireworks. Top Tips Arrive early to snag the best spots. And of course, make sure your phone is charged; those snaps are going straight to the 'gram. For all of us here at What's On … Eid Mubarak! > Sign up for FREE to get exclusive updates that you are interested in
