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Abu Dhabi’s Aldar records best quarter ever on deals, with Dh2.69b in Q3-21

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Occupied offplan dispatch plan is actually benefiting Aldar, and drawing in more youthful purchaser

Dubai: Abu Dhabi ace engineer Aldar is feeling the full advantages from consistent off arrangement dispatches and its expectation on conveying progressing projects. Net benefit for the initial nine months of 2021 are at Dh1.54 billion – and that comes from a 28 percent year-on-year increment.

In the July to end September period, the organization recorded improvement deals of Dh2.69 billion – its most noteworthy ever in any quarter. A “enhancing private purchaser and financial backer profile with expanding number of more youthful and female purchasers” was refered to by the engineer for the business spike.

“Aldar’s solid monetary and working presentation this year proceeded into Q3, mirroring our capacity to support development,” said Talal Al Dhiyebi, Group CEO. “As post-pandemic recuperation built up speed, our enhanced organizations kept on bouncing back at pace, with the second from last quarter conveying Dh2.69 billion being developed deals, supplemented by strong renting movement for our retail and business venture property portfolios.”

Aldar was the main designer in the UAE to get once again into offplan dispatch mode after the COVID-19 made break and it has kept the dispatches coming through occasionally this year too, focussed for the most part on the Yas Island.

“We hope to see working exercises across our business and retail resources keep on developing in accordance with the macroeconomic recuperation that is well in progress,” the CEO added. “Aldar keeps on looking for alluring and worth accretive speculation freedoms to develop our arrangement of working resources and we intend to carry all the more new advancements to the market, driven by our extending customer base, including abroad financial backers.”

Last quarter, the Abu Dhabi organization additionally made a drive into Egypt through a proposal for SODIC, one of the greater players in that market.

Income gains in same direction

With initial nine-month improvement deals at Dh6.14 billion, Aldar’s general incomes for the period was Dh6.32 billion, up 8 percent on 2020. Net benefits were at Dh2.43 billion. (In another enormous silver lining, the income accumulation likewise hit a record Dh5.86 billion, “supporting future income perceivability”.) All of the new deals age is assisting Aldar with hardening its money position, which was parted between Dh3.6 billion of unlimited money and Dh4 billion in undrawn submitted offices. These will assist with ‘feasible long haul development openings,” the designer said.

Obviously, the retail portfolio – with resources like Yas Mall – likewise recorded a ricochet back, with higher footfall and deals coming to up to “close pre-Covid” levels.

Update on Egypt bargain

Aldar is as yet anticipating administrative leeway in Egypt for the SODIC securing. Aldar has lined up with another Abu Dhabi substance – ADQ – in setting up the deal.

It was recently that Aldar talked about a section into new business sectors, mirroring an adjustment of its functional model and a selective spotlight on its headquarters.

SODIC is one of the greater names in the Egypt land space, with a portfolio that ranges for the most part upscale masterplanned networks.

Closer home

Aldar additionally sees openings opening up to gain huge land banks in Abu Dhabi – and somewhere else in the UAE. That would incorporate retail and instructive resources just as private, as per Fewer. Additionally, there will a nearer investigation of potential outcomes in the coordinations and warehousing, which after the pandemic drove interruption has become hot property.

“We think there is opportunities for loads of combination in Abu Dhabi,” said Greg Fewer, Chief Financial and Sustainability Officer. “Aldar has the solid capacity to make groundbreaking acquisitions.”

Obviously, it has the money close by to make those arrangements conceivable, when one appears The close to Dh7 billion has its employments. “Stay fluid when enormous portfolios become accessible out of nowhere,” said Fewer.

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Sharjah announces residential parking permit in 3 neighbourhoods

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Sharjah City Municipality has introduced a residential parking permit system in Al-Fisht, Sharqan and Al-Rifa’a to reserve parking spaces for residents and prevent misuse.

The new system is aimed at improving parking management and ensuring residents have better access to spaces near their homes.

Inspection campaign

Alongside the rollout, the Municipality has conducted inspections to identify parking violations in the three areas.

One of the main issues found was non-residents parking outside residential properties to avoid paying public parking fees.

Authorities have warned motorists who do not live in these areas against using residential parking spaces.

Violators could face legal and administrative action.

What residents should know

The residential permit system is intended to ensure designated parking spaces are used by eligible residents, while reducing misuse by motorists seeking to avoid public parking charges.

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No tolls, free parking in Abu Dhabi this Friday

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Motorists in Abu Dhabi can use public parking for free and avoid Darb toll charges at four gates on Friday, August 28, for the Prophet Muhammad’s (PBUH) birthday public holiday.

Q Mobility said regular toll and parking charges will resume on Saturday, August 29.

Which toll gates are free?

Darb tolls will be waived on Friday at:

  • Sas Al Nakhl
  • Al Maqta
  • Rabdan
  • Al Saadiyat

However, Al Qurm and Ghantout toll gates will remain chargeable. Both operate 24/7 at AED 4 per crossing.

Mawaqif parking free

Public Mawaqif parking across Abu Dhabi will also be free on August 28.

The exemption does not cover multi-storey public parking buildings, where normal charges will continue.

Regular Mawaqif fees will return on Saturday, August 29.

Q Mobility Centres Closed

Q Mobility Customer Happiness Centres in Abu Dhabi and Al Ain will be closed on Friday and reopen on Monday, August 31.

Motorists can continue using Q Mobility’s digital services 24/7 through its website, the Darb app and TAMM.

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Crackdown on Illegal paying guests: Dubai’s new shared housing law takes effect with fines up to Dh1m

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Dubai’s new legislation governing shared accommodation officially came into effect on August 26. Applying across the entire emirate, including free zones and special development zones, the comprehensive framework is designed to eliminate dangerous, overcrowded, and unauthorised partition rentals while establishing formal licensing standards for communal living.

What qualifies as shared housing?

Under the law, shared housing is defined as any residential property where individuals or families occupy private designated living spaces while sharing common facilities like kitchens, bathrooms, and dining areas.

Who is permitted to rent out shared units?

The new framework strictly bans unauthorised subletting by tenants. A primary tenant can no longer rent out individual bedrooms, partitioned spaces, or bed spaces directly to roommates or third parties.

Only the following entities can legally offer shared housing:

  • Registered Property Owners: Leasing spaces directly to occupants under formal contracts. 
  • Licensed Management Companies: Authorised operators contracted by the owner to run and lease the property. 
  • Licensed Operators Subletting Master Leases: Approved commercial entities leasing an entire property from the owner to sublet authorised units to tenants. 

Penalties for violations

Authorities have introduced strict financial and operational consequences for non-compliance:

  • Initial Fines: Dh500 up to Dh500,000, depending on the severity of the violation.
  • Repeat Violations: Fines double for repeat offences committed within one year, capped at Dh1,000,000.
  • Operational Sanctions: Authorities may suspend operations for up to 6 months, revoke commercial licenses, cancel permits, disconnect utilities, seize equipment, or order the direct evacuation of non-compliant properties.

Grace period & tenant protection

  • Compliance deadline: Existing shared housing operators and property owners have until August 26, 2027, to obtain permits and bring their properties into full compliance. 
  • Protection from sudden eviction: If an operator’s permit is suspended or cancelled, authorities can grant occupants an interim stay period to secure alternative accommodation rather than facing immediate eviction. 

Approved property/resident categories

The regulation permits shared accommodation across six distinct property types:

  • Residential apartments
  • Detached/standalone houses
  • Residential complexes
  • Mixed-use buildings
  • Attached / adjoining houses
  • Multi-storey buildings

Permitted occupant groups include families, single men, single women, university students, government personnel, and private sector corporate employees. Corporate and student housing provided directly by employers or educational institutions does not require individual tenancy contracts.

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