Sunday, May 23, 2010

DUBAI RENT GUIDE

JUMEIRAH BEACH RESIDENCE
Average rent: Studios begin at Dh50,000, one-bedrooms vary from Dh70,000 to Dh90,000. On the upper end are penthouses with private swimming pools for Dh300,000.
Pros: JBR has a European vibe. Expats enjoy the myriad choice of cuisines available at The Walk, plus easy access to the beach. Five-star hotels with licensed bars are within walking distance, eliminating the need for taxis and cars.
Cons: The beach has no showers or changing rooms and the originally proposed beachfront villas are now long-forgotten.
CAUTION: Residents are not allowed the use of gas cookers in the apartments. All homes come fitted with electric kitchen appliances and tenants have to use only these.



DUBAI MARINA
Average rent: This upmarket area has seen a massive crash in rental prices with studios now starting for as little as Dh40,000 in the lower-end buildings such as DEC Tower, Marina Diamond Buildings and Manchester Tower. Two-bedrooms available from Dh90,000 onwards.
Pros: Located in the heart of New Dubai; residents also have access to a newly opened Metro station and easy access to Marina Walk.
Cons: The odd bit of rush-hour traffic and ongoing construction, which can be quite jarring in a neighbourhood such as this.
BEST THING ABOUT IT: Almost every tower offers a view of the marina.




JUMEIRAH LAKE TOWERS
Average rent: From Dh30,000 for a studio to Dh65,000 for a two-bedroom in towers such as Seef Towers, Bonnington Tower and Lake View.
Pros: Proximity to Marina Mall and the Palm Jumeirah. Private parking space and 24-hour security.
Cons: Ongoing construction. The majority of the lakes haven’t been filled in yet.
BEST THING ABOUT IT: It’s walking distance to the Metro station and Dubai Marina.



DISCOVERY GARDENS
Average rent: Rents are cheap, with studios starting at Dh30,000 and two-bedrooms available in the range of Dh70,000-Dh80,000. Pros: Rock bottom rents, private parking, landscaped open areas and proximity to Ibn Battuta Mall.
Cons: The electricity lines are too close to the buildings. Access to the area is a bit of a hassle too.
CAUTION: Check the apartment carefully before renting. Many units still have snags and defective fixtures and fittings.



SPRINGS
Average rent: From Dh70,000 onwards for a two-bedroom villa, and Dh110,000 for a three-bedroom.
Pros: The area is fast developing with the opening of Spinneys, a pet food store and various dining outlets.
Cons: Non-stop construction. No Metro connection.
A LI’L EXTRA: Villas on corner plots have a larger garden area than the rest.



ARABIAN RANCHES
Average rent: From Dh90,000 for a two-bedroom villa to Dh350,000 for a six-bedroom villa with a private pool.
Pros: Villas are luxurious and garden areas are larger than average.
Cons: The area is not centrally located and there is no Metro connection. Only suitable for those with a car.
SPECIAL INTEREST:
The Dubai Polo & Equestrian Club is a treat for those who enjoy equine sports.



AL BARSHA
Average rent: Studios begin at Dh35,000 and three-bedrooms at Dh75,000.
Pros: From luxurious villas to cheap apartments, Al Barsha has a mix of different cultures, nationalities and lifestyles.
Cons: Traffic, congestion, unfinished roads
BEST THING ABOUT IT: Mall of the Emirates and Lulu hypermarket are a five-minute drive away.




INTERNATIONAL CITY
Average rent: Studios begin at Dh22,000, while one-bedrooms are going for Dh30,000.
Pros: The most affordable residential area in Dubai, with plenty of retail.
Cons: Traffic. Parking is on a first-come, first-serve basis.
CAUTION: Fire alarms ring for hours as security is rarely around to switch it off. Clusters such as Russia, which are nearer to the sewage plant, are subject to regular wafts of stench.



BUR DUBAI
Average rent: Fairly competitive with studios in Al Mankhool starting at Dh40,000 onwards and four-bedrooms going up to Dh150,000.
Pros: Budget accommodation, five-star hotels, Metro station and connecting buses, banks and BurJuman Centre.
Cons: Traffic is a major issue. It may take an hour to drive through what should be a 10-minute commute.
BEST THING ABOUT IT: Old meets new in Bur Dubai. Rubbing shoulders with high-rise five-star hotels and buildings are some of the city’s oldest areas including Bastakiya.



KARAMA
Average rent: Prices can be as low as Dh30,000 for a one-bedroom apartment in one of the older buildings with window A/C, or Dh65,000 for a large two-bedroom with private parking and central A/C.
Pros: Convenient location in the heart of Dubai, a newly opened Metro station, business centres, malls and parks.
Cons: As many of the buildings are old, with no underground parking, finding a spot can be a bit of a nightmare.
Fact: Expect traffic congestion. The area has loads of Indian eateries.



MIRDIF
Average rent: Five-bedroom villas can be found for Dh130,000. Apartments in Shurooq Mirdif begin at Dh35,000 for a studio, and Dh64,000 for a two-bedroom villa.
Pros: The neighbourhood is pet-friendly and is a 15-minute drive from the city centre. For retail therapy, the area has Uptown Mirdif, Mirdif City Centre, Emirates Co-op and Arabian Mall.
Cons: The noise of the airplanes. Rush-hour traffic can be quite harsh since Sharjah residents tend to drive through Mirdif on their way home.
TIP: All villas along Street 37, near Lifco supermarket, are on the flight path. If you’re ready to brave the noise, there are deals to be found, such as three-bedrooms villas for Dh65,000.



AL NAHDA
Average rent: Studios available for Dh25,000 and large three-bedrooms for Dh65,000.
Pros: Most buildings have a pool, gym and sauna.
Cons: Driving during rush hour can be a nightmare since it’s en route to Sharjah. Give yourself approximately two hours each way.
Fact: Residents now have access to NMC Hospital and various schools and nurseries dotted around the area.

Sunday, May 16, 2010

TOP TEN RICHEST PEOPLE IN THE WORLD- 2010

According to Forbes, the richest person in the world is now Mr.Carlo Slim Helu, a Mexican in 2010. There’s always an enthrallment with the richest people in the world. According to IMF statistics his wealth of $53.5 billion is roughly equal to the GDP of both Sudan $57 billion and Slovenia $ billion!!! (Ranked 69th in list of GDP by country 2008)It has been a good year for billionaires as stock markets have generally risen from the slumps of 2008 in the midst of the financial crisis.


Top Ten Richest People in the World- 2010

1. Carlo Slim Helu – Mexico $53.5 billion, up $18.5 billion in 12 months. Shares of America Movil (OIL, MEXICO) Telecom tycoon who pounced on privatization of Mexico’s national telephone company in the 1990s becomes world’s richest person for first time. Last year he was got the third place. Net worth up $18.5 billion in a year. Recently received regulatory approval to merge his fixed-line assets into American Movil, the biggest mobile phone company at Latin America.

2. Bill Gates, US $53 billion who had held the title of world’s richest 14 of the past 15 years. (MICROSOFT, US) Software visionary is now the world’s second-richest man. Net worth still up $13 billion in a year as Microsoft shares rose 50% in 12 months, value of investment vehicle Cascade swelled. More than 60% of the fortune held outside Microsoft; investments include Four Seasons hotels, Televisa, Auto Nation. Stepped down from day-to-day duties at Microsoft in 2008 to focus on philanthropy.

3. Warren Buffett – US – $47 billion- (Berkshire Hathaway Warren Buffet) Warren Buffet invested wisely in Goldman Sachs during the worst parts of 2008. (INVESTMENTS, US) America’s favorite investor up $10 billion in past 12 months on surging Berkshire Hathaway shares; says U.S. has survived economic "Pearl Harbor," but warns recovery will be slow. Shrewdly invested $5 billion in Goldman Sachs and $3 billion in General Electric amid 2008 market collapse and recently acquired railroad giant Burlington Northern Santa Fe for $26 billion.

4. Mukesh Ambani India $29.0 (PETROCHEMICALS, OIL & GAS, INDIA). Global ambitions: His Reliance Industries, already India’s most valuable company, recently bid $2 billion for 65% stake in troubled Canadian oil sands outfit Value Creations. Firm’s $14.5 billion offer to buy bankrupt petrochemicals maker LyondellBasell was rejected. Since September Company has sold Treasury shares worth $2 billion to be used for acquisitions. Late father, Dhirubhai, founded Reliance and built it into a massive conglomerate.

5. Lakshmi Mittal India 59 $28.7 (STEEL, INDIA) London’s richest resident oversees ArcelorMittal, world’s largest steel maker. Net profits fell 75% in 2009. Mittal took 12% pay cut but improved outlook pushed stock up one-third in past year. Looking to expand in India; wants to build steel mills in Jharkhad and Orissa but has not received government approval. Earned $1.1 billion for selling his interest in a Kazakh refinery in the month of December-2009.

6. Lawrence Ellison United States $28.0 (ORACLE, US) Oracle founder’s fortune continues to rise; shares up 70% in the past one year. Database giant has bought 57 companies in the past five years!! Completed $7.4 billion buyout of Sun Microsystems in the month of January and acquired BEA Systems for $8.5 billion in 2008. Studied physics at University of Chicago; didn’t graduate. Started Oracle 1977; took public a day before Microsoft in 1986.

7. Bernard Arnault - $27.5 (LUXURY GOODS, FRANCE) Bling is back, helping fashion icon clutch title of richest European as shares of his luxury goods outfit LVMH–maker of Louis Vuitton, Moet & Chandon–surge 57%. LVMH is developing upscale Shanghai commercial property, L’Avenue Shanghai, with Macau billionaire Stanley Ho.

8. Eike Batista Brazil $27.0 (MINING & OIL, BRAZIL) It is vowing to become world’s richest man–and he may be on his way to conquer. This year’s biggest gainer added $19.5 billion to his personal balance sheet!! S/o. Brazil’s revered former mining minister who presided over mining giant Companhia Vale do Rio Doce got his start in mining and gold trading.

9. Amancio Ortega Spain $74 (FASHION RETAIL, SPAIN) Style maven lords over Inditex; fashion firm, which operates under several brand names including like Massimo Dutti, Zara and Stradivarius, has 4,500 stores in 73 countries including new spots in Mexico and Syria!! Set up joint venture with Tata Group subsidiary to enter India in 2010. Betting on Florida real estate: bought Coral Gables office tower that is currently home to Bacardi USA.

10. Karl Albrecht Germany $23.5 (SUPERMARKETS, GERMANY) Owns discount supermarkets giant Aldi Sud, one of Germany’s and Europe’s dominant grocers. Have 1,000 stores in U.S. across 29 states!! Their estimated sales: $37 billion. Plans to open New York City store this year with younger brother, Theo, transformed mother’s corner grocery store into Aldi after World War II. Brothers split ownership in 1961; Karl took the stores in southern Germany, plus the rights to the brand in the U.K., Australia and the U.S. Theo got northern Germany and the rest of Europe.