Question: I’m considering buying a second property in Dubai. Is it better to go for a ready unit or an off-plan property as an investment? There are so many options, I could do with some advice. CP, Dubai
Answer: Both ready and off-plan properties can be excellent investments. The right choice depends on your risk tolerance, timeframe and cash flow requirements.
If your priority is immediate rental income, then a ready property is the better option. You can start earning from day one and the transaction process is straightforward. You also have full visibility of the condition, layout and location of the unit. This is often preferred by first-time or cautious investors.
On the other hand, off-plan properties tend to offer better entry prices and more flexible payment plans. Developers frequently launch units at favourable market values to attract early investors. If you’re looking for capital appreciation and are comfortable waiting three to four years for the handover, this route can be quite lucrative. However, keep in mind the risks of project delays and market fluctuations.
Regardless of which path you take, you should always research the developer’s track record. Even if the builder is not a UAE-based developer, check out what they have handed over in their home country.
Ensure the development is approved by the Real Estate Regulatory Agency, registered in Oqood and has an escrow account opened in the project’s name.
Lastly, evaluate the neighbourhood’s long-term potential, not just current returns. It is more beneficial to enter a project that is in a neighbourhood with great potential rather than an area that is already established. Look for things that will add value in the long term, such as transport links, Metro, road extensions and amenities.
Diversification across different asset types, some ready, some off-plan, can also be a great strategy, especially as Dubai’s property market continues to mature.
Q: I've been collecting references to support my position that a new landlord cannot use the old landlord’s eviction notice (which was given for the reason of selling) to rent the property to another tenant at a higher rate.
Can you point me in the direction of some cases that were won in favour of this position, or to any legal advisers who have experience with similar cases? NG, Dubai
A: Unfortunately, I do not have access to such documented cases. However, I would like to offer my opinion.
Previously, a new landlord could not use an old landlord’s eviction notice. But recently judges at the Rental Dispute Settlement Committee have changed their stance on this and now allow the eviction notice to be transferable.
However, a landlord is not allowed to evict a tenant to re-let the property to somebody else. The new landlord should offer the outgoing tenant the right to move back in, and only if the tenant refuses to do so can the former go on to let the property to someone else.
It’s important to note that the tenant should confirm in a notarised document that they do not wish to move back in. Once this document is available, the landlord is free to let it to someone else at the market rate.
The opinions expressed do not constitute legal advice and are provided for information only. Please send any questions to mario@novviproperties.com
The five pillars of Islam
Europa League group stage draw
Group A: Villarreal, Maccabi Tel Aviv, Astana, Slavia Prague.
Group B: Dynamo Kiev, Young Boys, Partizan Belgrade, Skenderbeu.
Group C: Sporting Braga, Ludogorets, Hoffenheim, Istanbul Basaksehir.
Group D: AC Milan, Austria Vienna , Rijeka, AEK Athens.
Group E: Lyon, Everton, Atalanta, Apollon Limassol.
Group F: FC Copenhagen, Lokomotiv Moscow, Sheriff Tiraspol, FC Zlin.
Group G: Vitoria Plzen, Steaua Bucarest, Hapoel Beer-Sheva, FC Lugano.
Group H: Arsenal, BATE Borisov, Cologne, Red Star Belgrade.
Group I: Salzburg, Marseille, Vitoria Guimaraes, Konyaspor.
Group J: Athletic Bilbao, Hertha Berlin, Zorya Luhansk, Ostersund.
Group K: Lazio, Nice, Zulte Waregem, Vitesse Arnhem.
Group L: Zenit St Petersburg, Real Sociedad, Rosenborg, Vardar
Players Selected for La Liga Trials
U18 Age Group
Name: Ahmed Salam (Malaga)
Position: Right Wing
Nationality: Jordanian
Name: Yahia Iraqi (Malaga)
Position: Left Wing
Nationality: Morocco
Name: Mohammed Bouherrafa (Almeria)
Position: Centre-Midfield
Nationality: French
Name: Mohammed Rajeh (Cadiz)
Position: Striker
Nationality: Jordanian
U16 Age Group
Name: Mehdi Elkhamlichi (Malaga)
Position: Lead Striker
Nationality: Morocco
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
Dolittle
Director: Stephen Gaghan
Stars: Robert Downey Jr, Michael Sheen
One-and-a-half out of five stars
Gulf Under 19s final
Dubai College A 50-12 Dubai College B
EA Sports FC 26
Publisher: EA Sports
Consoles: PC, PlayStation 4/5, Xbox Series X/S
Rating: 3/5
Take Me Apart
Kelela
(Warp)
Tax authority targets shisha levy evasion
The Federal Tax Authority will track shisha imports with electronic markers to protect customers and ensure levies have been paid.
Khalid Ali Al Bustani, director of the tax authority, on Sunday said the move is to "prevent tax evasion and support the authority’s tax collection efforts".
The scheme’s first phase, which came into effect on 1st January, 2019, covers all types of imported and domestically produced and distributed cigarettes. As of May 1, importing any type of cigarettes without the digital marks will be prohibited.
He said the latest phase will see imported and locally produced shisha tobacco tracked by the final quarter of this year.
"The FTA also maintains ongoing communication with concerned companies, to help them adapt their systems to meet our requirements and coordinate between all parties involved," he said.
As with cigarettes, shisha was hit with a 100 per cent tax in October 2017, though manufacturers and cafes absorbed some of the costs to prevent prices doubling.
Various Artists
Habibi Funk: An Eclectic Selection Of Music From The Arab World (Habibi Funk)
PREMIER LEAGUE FIXTURES
All kick-off times UAE ( 4 GMT)
Saturday
Liverpool v Manchester United - 3.30pm
Burnley v West Ham United - 6pm
Crystal Palace v Chelsea - 6pm
Manchester City v Stoke City - 6pm
Swansea City v Huddersfield Town - 6pm
Tottenham Hotspur v Bournemouth - 6pm
Watford v Arsenal - 8.30pm
Sunday
Brighton and Hove Albion v Everton - 4.30pm
Southampton v Newcastle United - 7pm
Monday
Leicester City v West Bromwich Albion - 11pm
more from Janine di Giovanni
UAE currency: the story behind the money in your pockets
'Worse than a prison sentence'
Marie Byrne, a counsellor who volunteers at the UAE government's mental health crisis helpline, said the ordeal the crew had been through would take time to overcome.
“It was worse than a prison sentence, where at least someone can deal with a set amount of time incarcerated," she said.
“They were living in perpetual mystery as to how their futures would pan out, and what that would be.
“Because of coronavirus, the world is very different now to the one they left, that will also have an impact.
“It will not fully register until they are on dry land. Some have not seen their young children grow up while others will have to rebuild relationships.
“It will be a challenge mentally, and to find other work to support their families as they have been out of circulation for so long. Hopefully they will get the care they need when they get home.”
