ABU DHABI // Some men prefer apartments in the city to workers’ accommodation, but the price they pay for their independence can be high – and not just financially
While the shared accommodation at Saadiyat Workers’ Village and Icad in Mussaffah meets international standards of at least three square metres of living space per person, overcrowded rooms in Abu Dhabi do not.
Many city-centre apartments where workers live have three-tiered bunk beds with up to 10 men in each bedroom, and 15 in the hall. The accommodation is not only cramped, it is illegal.
Municipality regulations mandate no more than six unrelated adults in one villa, no more than three people in one apartment bedroom and no more than two in a studio.
So, as well as paying rent of up to Dh350 a month, tenants often have to bribe building doormen to keep quiet about how many people are living in one apartment.
Saiful Islam, from Bangladesh, who has lived in Abu Dhabi since 1999 and shares a three-bedroom apartment with about 45 other men, said: “I am happy here and pay Dh350 a month for a bed space.
“We have window AC and clean our own rooms, and we can have quality food of our choice – not like in the camps, where the food quality is bad.
“We can cook, but in the camps that’s not allowed. Here, we are free to dine out wherever and whenever we want, but in the camps workers have to eat whatever is served there.
“I stayed in an Abu Dhabi camp for some time and I know the conditions.”
Mr Islam does several jobs as a freelance driver, mason and electrician, and earns up to Dh1,500 a month.
Although he prefers to live in the inner city, he complains that in addition to rising rents, some doormen are taking as much as Dh5,000 in one-time bribes when apartments are let.
“And each month, the building security guard takes Dh100 from each room to turn a blind eye to bachelors’ living, which is not allowed.”
Mr Islam said there should be subsidised accommodation for workers within the city limits because their salaries were too low to afford high rents.
Zainul Abdeen, from Bangladesh, who works for an Emirati family in Abu Dhabi, shares a room with 10 people in Madinat Zayed off Muroor Road and pays Dh200 a month.
“I have a low salary so I am happy here,” he said. “The cost of living is very high and my savings have plummeted. That’s why I choose to live here, to save money.”
Abdul Razzak, a tailor who has lived in Abu Dhabi for 23 years, shares a three-bedroom apartment with another 25 men inside a villa in Khalidiya. There are six men in each bedroom and eight in the hall.
His air-conditioned room accommodates three Bangladeshis and three Indians. “We pay Dh3,000 for the room, so I have to pay Dh500 a month in rent,” he said.
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More coverage on this topic:
■ Abu Dhabi invests in worker comfort
■ Despite difficult conditions, labourers feel better of in UAE
■ South Asian expats save in UAE and spend at home
More from 22 March:
■ Special report: A look inside UAE labour accommodation living conditions
■ Life on Saadiyat: catering staff try to please different palates
■ Passport retention by UAE companies less common
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About this package:
The UAE has signed up to nine International Labour Organisation conventions to protect workers’ rights, and in 2006 was the first country in the region to enact a comprehensive anti-human trafficking law. These conventions spurred the Tourism Development & Investment Company (TDIC) to improve the quality of life for 7,000 employees living in workers villages on Saadiyat island. While most workers say they are satisfied with life in Saadiyat Accommodation Village, many have voiced concern about the poor taste of the food. Despite criticism, the purchasing power of the dirham in Southest Asian countries remains a major factor in attracting expatriates to the UAE. Similarly, concerns over passport retention have decreased as the practice has become less common in the UAE.
anwar@thenational.ae
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Favourite parkour spot in Dubai: Residence towers in Jumeirah Beach Residence
Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.
Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.
“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.
Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.
“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.
Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.
From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.
Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.
BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.
Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.
Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.
“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.
Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.
“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.
“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”
The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”
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The Specs
Price, base Dh379,000
Engine 2.9-litre, twin-turbo V6
Gearbox eight-speed automatic
Power 503bhp
Torque 443Nm
On sale now
SPECS
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Credits
Produced by: Colour Yellow Productions and Eros Now
Director: Mudassar Aziz
Cast: Sonakshi Sinha, Jimmy Sheirgill, Jassi Gill, Piyush Mishra, Diana Penty, Aparshakti Khurrana
Star rating: 2.5/5
COMPANY PROFILE
Name: Xpanceo
Started: 2018
Founders: Roman Axelrod, Valentyn Volkov
Based: Dubai, UAE
Industry: Smart contact lenses, augmented/virtual reality
Funding: $40 million
Investor: Opportunity Venture (Asia)
UAE currency: the story behind the money in your pockets
How to watch Ireland v Pakistan in UAE
When: The one-off Test starts on Friday, May 11
What time: Each day’s play is scheduled to start at 2pm UAE time.
TV: The match will be broadcast on OSN Sports Cricket HD. Subscribers to the channel can also stream the action live on OSN Play.
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The specs
Engine: 4.0-litre V8 twin-turbocharged and three electric motors
Power: Combined output 920hp
Torque: 730Nm at 4,000-7,000rpm
Transmission: 8-speed dual-clutch automatic
Fuel consumption: 11.2L/100km
On sale: Now, deliveries expected later in 2025
Price: expected to start at Dh1,432,000
The biog
Marital status: Separated with two young daughters
Education: Master's degree from American Univeristy of Cairo
Favourite book: That Is How They Defeat Despair by Salwa Aladian
Favourite Motto: Their happiness is your happiness
Goal: For Nefsy to become his legacy long after he is gon
Calls
Directed by: Fede Alvarez
Starring: Pedro Pascal, Karen Gillian, Aaron Taylor-Johnson
4/5
Ten tax points to be aware of in 2026
1. Domestic VAT refund amendments: request your refund within five years
If a business does not apply for the refund on time, they lose their credit.
2. E-invoicing in the UAE
Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption.
3. More tax audits
Tax authorities are increasingly using data already available across multiple filings to identify audit risks.
4. More beneficial VAT and excise tax penalty regime
Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.
5. Greater emphasis on statutory audit
There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.
6. Further transfer pricing enforcement
Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes.
7. Limited time periods for audits
Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion.
8. Pillar 2 implementation
Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.
9. Reduced compliance obligations for imported goods and services
Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations.
10. Substance and CbC reporting focus
Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity.
Contributed by Thomas Vanhee and Hend Rashwan, Aurifer
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Titanium Escrow profile
Started: December 2016
Founder: Ibrahim Kamalmaz
Based: UAE
Sector: Finance / legal
Size: 3 employees, pre-revenue
Stage: Early stage
Investors: Founder's friends and Family
Killing of Qassem Suleimani
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UAE currency: the story behind the money in your pockets
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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.
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