Latest news with #Dh70
Time of India
03-07-2025
- Lifestyle
- Time of India
This Dh70 million Dubai mansion offers ocean views, Bentley decor and Shah Rukh Khan next door
A sea-facing Dh70 million Palm Jumeirah mansion with Bentley interiors and Shah Rukh Khan next door./ Image: Instagram If your dream home involves a blend of ultra-luxury, stunning ocean views, and the chance to spot Bollywood megastar Shah Rukh Khan on a morning jog, then villa number 23 on Dubai's Palm Jumeirah is the epitome of that fantasy. This luxurious five-bedroom mansion, priced at a cool Dh70 million (around $19.06 million USD), is more than just a property, it's a lifestyle. Nestled in one of the most sought-after locales in the world, this villa is a symbol of refined taste, showcasing the best of Dubai's high-end living. Beyond its aesthetics and amenities, the Palm Jumeirah itself adds an air of exclusivity. But it's not just the villa's jaw-dropping features that make it stand out, it's the idea of living in a community where your neighbors might just be Shah Rukh Khan, tech moguls, or football stars. Redefining Luxury Living: The Architecture and Design Spanning 14,671 square feet, with 8,000 square feet of built-up area, villa number 23 on Palm Jumeirah is a showcase of luxury and comfort. Designed with both elegance and functionality in mind, this mansion feels like a refined resort. The extensive use of natural travertine stone gives the villa a timeless aesthetic, as noted by owner Rakesh Mirchandani in an interview with Gulf News . This attention to material detail creates a chic, welcoming atmosphere. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Gold Is Surging in 2025 — Smart Traders Are Already In IC Markets Learn More Undo The villa offers a perfect balance of formal and informal spaces. With three formal living rooms and two casual ones, there's room for every occasion. The double-height family area, flooded with natural light, creates a calming, airy atmosphere. This design ensures both beauty and practicality in every corner of the home A Home That Combines Practicality with Luxury Villa number 23 is not only grand in scale but also thoughtfully designed to cater to both luxurious living and practical needs. Ground Floor Bedroom: A standout feature of the villa is the ground-floor bedroom, ideal for elderly family members or guests who require easy access. This practical space ensures that the home is versatile enough to accommodate various living situations without compromising on the luxury experience. Master Suite: The master bedroom is the villa's most striking feature. It offers panoramic ocean views, making it the perfect retreat to start and end your day. The private terrace extends the living space outdoors, allowing residents to step out for a peaceful morning or evening experience. The design maximizes natural light, enhancing the sense of tranquility. Dedicated Closet for Fashion: The villa's closet is a bespoke design created to store an extensive collection of designer clothing and accessories. With custom shelving and ample space, the closet accommodates everything from bags to garments, ensuring that the most luxurious wardrobe has room to breathe. It's a well-planned addition that brings functionality to the home's high-end feel. Every aspect of the home has been carefully considered to combine luxury with practical living. Whether it's providing space for family or organizing a fashion collection, villa number 23 seamlessly integrates comfort and convenience with opulence. Location: The Ultimate Neighbourhood Living in Palm Jumeirah is a lifestyle choice, and villa number 23 takes full advantage of this. The neighborhood is home to an exclusive mix of celebrities, tech moguls, and entrepreneurs, adding an undeniable cachet to the property. As Mirchandani mentions, you may find yourself jogging past Bollywood stars, footballers, or high-profile business figures. "That's just life at The Palm Jumeirah," he says. Shah Rukh Khan is one of the most notable neighbors in this elite community. The superstar, beloved by millions in the UAE, adds a touch of glamour to an already high-profile neighborhood. The idea of possibly bumping into him as you take a morning jog or sip your coffee on the terrace speaks to the level of exclusivity that comes with living in Palm Jumeirah. The Price Tag and What You Get With a price tag of Dh70 million, this villa offers more than just a stunning home, it presents a complete lifestyle package. The property comes fully furnished, including the iconic Bentley sofas, making it move-in ready for its next owner. Key Features Include: 5 spacious bedrooms 8,000 square feet of built-up area Expansive ocean views A blend of formal and informal living spaces Designer furniture from Bentley, Fendi, and other premium brands A ground-floor bedroom ideal for elderly parents or guests A custom-designed closet space for designer fashion A private terrace with ocean views For sports fans, the villa's number 23 is a nod to basketball legend Michael Jordan. As Rakesh Mirchandani puts it, 'It's number 23, perfect for any Michael Jordan enthusiast.' It's a small yet distinctive detail that adds character to this exceptional home.
Time of India
18-06-2025
- Business
- Time of India
Every 30th adult now a millionare: UAE adds 13,000 dollar millionaires in 2024
In 2024, the UAE gained 13,000 millionaires, bringing the total to 240,000 with $785 billion in wealth/ Image: X The United Arab Emirates continued its meteoric rise on the global wealth map in 2024, adding approximately 13,000 new millionaires, according to the UBS Global Wealth Report 2025 , released Wednesday. This fresh wave of high-net-worth individuals (HNWIs) pushed the UAE's millionaire count to a striking 240,343, marking a 5.8% year-on-year increase. This growth makes the UAE the second-fastest-growing millionaire market, trailing only Türkiye, which experienced an 8.4% rise. A good number of these newly created millionaire base in the UAE came about from re-locations, as has been the case for four years now. Aaccording to the Swiss bank: 'In 2024, Turkey stands out from the crowd thanks to an 8.4% increase in its number of dollar millionaires over 2023, equivalent to a boost of roughly 7,000 people in a single year. The UAE (had) a rise of 5.8% in millionaire numbers, thanks to approximately 13,000 new entrants in this category.' To put it in human terms: According to Worldometers data, the UAE's population grew by 385,048 last year. While the total population is estimated at around 11 million, adults in their prime working years (25-54) number a substantial 7.28 million. With such a high concentration of wealth, effectively about one in every 30 adults or economically active individuals in the UAE is a millionaire. Where the Wealth Lives: UAE's $785 Billion in Private Hands The country's HNWIs now collectively control about $785 billion (Dh2.88 trillion) in wealth. Meanwhile, the average wealth per adult in the UAE currently stands at $147,663. According to the report: 62% of this wealth is held in financial assets, from equities and bonds to private investments. The remaining 48% resides in non-financial assets, primarily real estate and land, long considered pillars of wealth preservation in the Gulf. This concentration of wealth is clearly reflected in the UAE's property and investment markets. According to Knight Frank, a notable influx of high-net-worth individuals from Saudi Arabia, India, China, and the UK is driving larger, multi-million dollar deals, particularly in premium locations such as Jumeira Bay Island. Paul Donovan, Chief Economist at UBS Global Wealth Management, in a statement highlighted the broader implications of this capital accumulation: 'Wealth is not just an economic measure – it's a social and political force. As we navigate the fourth industrial revolution and rising public debt, the way wealth is distributed and transferred will shape opportunity, policy, and progress.' Generational Shifts: $19 Billion in Wealth Transfers Expected One particularly notable trend in the UAE is the coming wave of wealth transfers. UBS estimates that the country will see $19 billion (Dh70 billion) in intra- and inter-generational transfers. That figure represents 1.4% of the UAE's total private wealth. This includes wealth moving between: Spouses, such as from a widow or widower to their partner. Generations, especially from older family members to children or grandchildren. Globally, the report expects over $83 trillion to change hands in the next two to three decades, most significantly in the: United States: over $29 trillion Brazil: nearly $9 trillion Mainland China: more than $5 trillion Wealth Rankings: Where the UAE Stands Globally and Regionally Regionally, the UAE ranks second in the Middle East for millionaire population: Saudi Arabia: ~340,000 millionaires UAE: 240,343 Israel: 186,000 Globally, Switzerland maintained its position as the wealthiest nation by average adult wealth: Switzerland: $687,166 United States: $620,654 Hong Kong: $601,195 Luxembourg: $566,735 Australia: $516,640 By contrast, while the UAE's average per adult ($147,663) trails these top-tier economies, its pace of wealth creation—and wealth attraction, signals an upward trajectory. Inflow of Wealth: Why Millionaires Are Moving to the UAE Not all of the 13,000 new millionaires in the UAE were homegrown. According to Knight Frank , citing Henley & Partners data, the UAE attracted 7,200 millionaires from abroad in 2024, a 53% increase from the previous year. This surge in financial migration brings the total number of resident HNWIs to 130,500, as reported earlier. Industry experts suggest that favorable tax policies, political stability, and high-end infrastructure continue to make the UAE a magnet for mobile global wealth. A Global Picture: Wealth Growth Tilted to the Americas While the UAE experienced notable domestic gains, the global wealth landscape also saw overall expansion: Global private wealth rose by 4.6% in 2024, up from 4.2% in 2023. Most of the increase came from North America, where stable currencies and strong financial markets drove momentum. The Americas led with more than 11% of global wealth growth. In contrast, the Asia-Pacific and EMEA (Europe, Middle East, Africa) regions saw sluggish growth: below 3% and 0.5%, respectively.
Al Etihad
29-05-2025
- Business
- Al Etihad
Awqaf Abu Dhabi and Aldar to develop Dh70m real estate endowment project to support People of Determination and patients with chronic diseases
29 May 2025 20:17 ABU DHABI (ALETIHAD)The Endowments and Minors Funds Authority (Awqaf Abu Dhabi) and Aldar have partnered to develop a real estate endowment project, valued at Dh70 million, in support of the Awqaf Abu Dhabi Life Endowment from the project will be dedicated to enhancing healthcare access, specifically by covering treatment costs and providing support for individuals with chronic illnesses, and, People of Determination. The initiative aligns with goals of the Awqaf Abu Dhabi Life Endowment campaign, launched by Awqaf Abu Dhabi, as well as Aldar's commitment to driving long-term community impact through strategic investments in social Abu Dhabi will provide the land, while Aldar will lead with its design, development, and delivery. The project introduces an innovative and sustainable model of real estate investment, generating recurring income that will be reinvested into strengthening the healthcare system and enhance its capacity to meet future by the Endowments and Minors Funds Authority (Awqaf Abu Dhabi), the Awqaf Abu Dhabi Life Endowment campaign, under the slogan With You For Life, aims to build a lasting fund to support the healthcare needs of underserved groups. This includes access to medications, mental health services, and other forms of medical General of Awqaf Abu Dhabi, His Excellency Fahad Abdulqader Al Qassim, said, 'The Awqaf Abu Dhabi Life Endowment campaign marks a significant shift in the use of endowments for development. It moves beyond traditional models to create an innovative, sustainable system of endowments that direct resources to strengthen the vital healthcare sector. This approach ensures ongoing giving and support, promotes community well-being, and improves public health.''Awqaf Abu Dhabi believes in leveraging endowment assets as a sustainable source of funding for development, providing a consistent revenue stream for social and healthcare projects. This endowment project, developed in collaboration with Aldar, embodies this vision. It will generate sustainable income to strengthen the healthcare system's capacity to provide long-term care for individuals with chronic illnesses, and People of Determination.' Group Chief Executive Officer at Aldar, Talal Al Dhiyebi, said, 'We are honoured to collaborate with Awqaf Abu Dhabi on this groundbreaking endowment project, which underscores the importance of public-private partnerships in developing innovative solutions to address social challenges. By leveraging real estate investment, the initiative will provide greater access to healthcare for those who need it most, reflecting the UAE's deeply rooted values of giving and social solidarity.'
NDTV
26-05-2025
- Business
- NDTV
UAE Man Fined Rs 16 Lakh For Negative Review Against Business Online
A UAE man has paid a huge price for posting disparaging remarks against a business on social media. The Al Ain Court for Civil, Commercial, and Administrative Claims ordered the man to pay the business owner Dh70,000 (approximately Rs 16.21 lakh) for inflicting financial losses. The businessman filed the lawsuit and initially sought Dh200,000 in damages for material and moral harm, court costs and legal fees. He alleged the man's remarks damaged his store's reputation and significantly reduced sales, Gulf News reported. The court acknowledged the man's remarks about the business harmed the company's reputation. The defendant was earlier found guilty in a criminal court ruling before filing a written defence asking the court to dismiss the case. He also asked the Federal Tax Authority to furnish the company's tax records to verify whether there had been a decline in sales during the period of the claimed defamation. The man also provided supporting documentation, such as images of internet conversations and a certificate of dependent status. The defendant also sought to recoup legal fees. However, the court concluded that the man had committed defamation, affirming the previous ruling. He was mandated to compensate the merchant with the designated amount. In a similar case in 2024, a man from Northern Ireland was sentenced to up to two years in prison in Dubai for posting a critical review of a dog grooming business. Belfast native Craig Ballentine was arrested on "slander" charges after he posted a critical review following a dispute with his previous employer. Ballentine lost his job and faced a travel ban for two months. He had to pay thousands of pounds to get it removed. The man then returned to Northern Ireland and wrote a critical online review outlining all of his grievances with the grooming centre and his former supervisor. Later, he was arrested while on vacation with friends in Abu Dhabi.
Hindustan Times
24-05-2025
- Business
- Hindustan Times
UAE man fined over ₹16 lakh for posting negative online review against business
A young man in the UAE has been ordered to pay Dh70,000 (approximately ₹16.21 lakh) in compensation for posting defamatory remarks on social media that damaged a business's reputation and led to financial losses, reported Gulf News. Also read: South Korean mother reunites with abducted daughter after 44 years, now suing government over illegal adoption The Al Ain Court for Civil, Commercial, and Administrative Claims delivered the verdict after the owner of a commercial establishment filed a case, stating that the man's online comments had tarnished his shop's image and caused a significant drop in sales. The claimant had initially sought Dh200,000 in compensation for both material and moral damages, along with legal expenses and court fees. According to the complaint, the man had posted harmful comments about the business on a social media platform, which the court confirmed had negatively impacted the company's reputation. The defendant had already been found guilty of the act in a previous criminal court ruling. Also read: 'Spookiest s**t ever': AI blackmails engineer over affair after being told it'll be replaced During the civil proceedings, the man submitted a written defence urging the court to dismiss the compensation claim. He also requested the Federal Tax Authority to provide the business's tax records to determine whether there had truly been a drop in sales during the time of the alleged defamation. Additionally, he submitted supporting documents, including a dependent's certificate and screenshots of online chats. Also read: Indian Harvard student fears future after Trump admin blocks international enrolments: 'I don't know where I'll go' However, the court upheld the earlier judgement and concluded that the man had indeed committed defamation. He was ordered to pay Dh70,000 to the businessman as compensation. Also read: 'I am not dead yet': Woman in China falls from 12th floor, calls husband for help from ground
