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Khaleej Times
28 minutes ago
- Khaleej Times
UAE rents, property prices rise by up to 25% along Etihad Rail route
Property prices and rental rates in areas near the UAE's Etihad Rail have seen double-digit growth in 2025, with further appreciation expected. Real estate industry executives predict property values could increase by up to 25 per cent, while rents may rise as much as 15 per cent. 'Rental values in areas close to Etihad Rail stations have seen consistent growth, averaging a nine per cent increase over the past nine months. Dubai Festival City posted a standout 23 per cent rise, followed by a 10 per cent increase in Dubai South. This mirrors rental trends seen in areas under construction of the Dubai Metro Blue Line, where rents have already jumped by 23 per cent,' said Christopher Cina, director of sales at Betterhomes. 'Accessibility creates demand, and properties located within easy reach of the new rail stations will command a premium, which we expect to be from 10 to 20 per cent.' Regarding property prices, Cina added that values in zones near Etihad Rail stations have risen by an average of 13 per cent over the past nine months. 'Dubai Festival City, located near Al Jaddaf Station, led the surge with an impressive 18 per cent increase, followed closely by Dubai South and Dubai Investments Park at 17 per cent each,' he noted. The UAE's national railway project is set to launch passenger services in 2026. Once operational, it is projected to accommodate around 36.5 million passengers annually by 2030. Spanning approximately 900km, the network will connect 11 cities and regions across all seven emirates. Drawing comparisons with the Dubai Metro Red Line — where properties within a five to 15-minute walking radius appreciated by 15 to 25 per cent — Rupert Simmonds, director of leasing at Betterhomes, said: 'Given Etihad Rail's national scale and its integration with key hubs like the expanding Al Maktoum International Airport, it's conservative to project a 10 to 15 per cent appreciation in residential values in the near future.' Growing buyer interest With expectations of higher returns on properties near Etihad Rail stations, investor interest is surging, as many look to capitalise on early entry opportunities. 'We have seen a rise in client interest, with agents guiding clients toward strategic locations where they can enter the market early, with the expectation that demand will push both sales prices and rental yields upward. As stations become operational, the premium for well-connected homes, whether apartments or villas, will likely mirror the uplift we saw in Dubai Marina and Downtown after the metro launch,' said Mark Castley, CEO of Real Estate at Huspy. He projected that residential properties near Etihad Rail stations could see a price increase of 15 to 25 per cent within the first three to five years following the launch of operations. 'The strongest growth is likely to occur in areas that combine affordability with improved connectivity, attracting both end-users and investors. This includes ready properties that will immediately benefit from better accessibility, as well as off-plan developments launched ahead of completion,' he explained. Similarly, Huspy's CEO anticipates rental values in the vicinity of the stations to increase by 10 to 15 per cent over the next 12 to 24 months.
Khaleej Times
28 minutes ago
- Khaleej Times
UAE: How some private firms extend probation after Sharjah changes six-month rule
After Sharjah recently extended probation period in the emirate's government sector to nine months, the conversation has now turned to the private sector. Experts say some companies are stretching the evaluation phase, especially for strategic or specialised roles, through internal processes that stay within the legal framework. Under the UAE Labour Law (Federal Decree Law No. 33 of 2021), probation is capped at six months. Anything beyond that would be a legal violation. Still, firms have found ways to continue assessing new hires after the official probation ends. 'The UAE Labour Law sets a firm limit of six months for probation periods,' said Dmitry Zaytsev, founder of Dandelion Civilisation. 'What I've seen in practice is that companies fully comply with this legal cap, but often continue structured evaluation and support after probation through internal processes.' Stay up to date with the latest news. Follow KT on WhatsApp Channels. These internal practices include: Why some roles need more time Zaytsev pointed out that longer evaluations often show up in roles where early performance is hard to measure, such as product, innovation, or leadership-track positions, or those that are highly client-facing. 'The focus is shifting from just 'can they do the job?' to 'how do they do it?',' he said. 'Companies want to see how someone handles pressure, collaborates, adapts, and makes decisions.' Some high-growth firms are even creating tiered onboarding models, like a three-month technical assessment followed by a separate culture-fit review, especially for critical or strategic roles. Probation vs internal assessment Talal Ahmed, Head of HR and Government Relations at Innovations Group, said extended evaluations are especially common in senior leadership, legal, finance, cybersecurity, and engineering roles, jobs where the cost of a bad hire can be high. 'Longer evaluation periods help companies manage risk and ensure long-term alignment with culture and business goals,' he said. 'It's also about seeing whether someone can lead, adapt, and deliver in complex environments.' While the formal probation still ends at six months, Talal noted that internal evaluations can quietly continue for up to a year, often with structured onboarding, mentorship, or phased reviews. 'This reflects a shift toward prioritising quality of hire over speed,' he said. How it affects employees Not everyone sees this as a positive. According to Anam Rizvi, a senior HR consultant and workplace culture advisor, extended evaluation periods can backfire if they're not managed well. 'The psychological contract between an employer and employee is fragile early on,' she said. 'If probation feels open-ended or unclear, it can lead to disengagement, especially among top performers.' Anam explained that younger professionals, in particular, expect clarity and open communication during onboarding. If a company needs more time to evaluate someone, she said, it's essential to be transparent about why and how. 'Framed properly, it can be a growth opportunity. But if it feels like a delay in trust, it can damage morale,' she said.
Zawya
6 hours ago
- Zawya
Syria signs $4bln airport redevelopment pact with Qatari-Turkish-US consortium
The Syrian government, represented by General Authority of Civil Aviation, has signed a Memorandum of Understanding (MoU) with a consortium comprising Qatari, Turkish, and US companies to redevelop Damascus International Airport in a project valued at over $4 billion. The consortium led by Qatar's UCC Holding, through its investment arm UCC Concessions Investments, includes Assets Investments USA as well as Turkish construction giants Cengiz İnşaat, Kalyon İnşaat, and TAV Tepe Akfen, UCC Holding said in a press statement. Five-phase redevelopment plan The redevelopment will follow a Build–Operate–Transfer (BOT) model over five phases: Phase 1: Expand capacity to 6 million passengers in the first year. Phase 2: Increase capacity to 16 million passengers. Final Phase: Reach a capacity of 31 million passengers annually. The airport will be constructed in line with International Civil Aviation Organisation (ICAO) and International Air Transport Association (IATA) standards, and feature: Up to 32 gates with modern passenger boarding bridges Integrated air navigation service systems A world-class duty-free area with international dining and retail outlets The project scope includes the redevelopment of a 50-kilometre access road to the airport. Additionally, the agreement earmarks $250 million in financing to purchase 10 Airbus A320 aircraft for Syrian Airlines as part of efforts to revitalise the national carrier. Power sector development In May 2025, the Syrian government and a UCC Holding-led international consortium had signed an MOU worth $7 billion to develop and operate power generation projects in the country. The consortium led by UCC Holding's investment arm UCC Concessions Investments included Turkey's Cengiz Energy and Kalyon Energy; and US-based Power International USA. The agreement covered the development of four combined-cycle gas turbine (CCGT) power plants in Traifawi (Homs), Zayzoun (Hama), Deir-Azzour, and Mehardeh (Hama), with an approximate installed generation capacity of 4,000 megawatts (MW) and a 1,000 MW solar power plant in Wedian Alrabee, located in the southern region of Syria. The projects, which will be implemented under Build-Own-Operate (BOO) and Build-Operate-Transfer (BOT) models with corresponding power purchase agreements (PPAs), has completion timelines of three years for the gas plants and less than two years for the solar plant once final agreements and financial close are achieved. 12 agreements worth $14 billion The $4 billion Damascus Airport redevelopment pact is part of Syria 12 investment deals worth $14 billion with international companies inked by the Syrian government on Wednesday. Other deals include a $2 billion agreement with a UAE company to establish a metro in the Syrian capital, a $2 billion deal for the Damascus Towers project with Italy-based UBAKO and agreements worth $500 million and $60 million for Baramkeh Towers and Baramkeh Mall respectively. In July 2025, Syria and DP World inked an $800 million agreement to develop, manage and operate a multi-purpose terminal at Tartous for 30 years under Bot model and cooperate in establishing industrial and free trade zones. In the same month, Saudi Arabia had announced $6.4 billion of investments in the country including $2.93 billion for real estate and infrastructure projects and about $1.07 billion for the telecommunications and information technology sector. (Writing by Majda Muhsen; Editing by Anoop Menon)
