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Al Etihad
26-05-2025
- Business
- Al Etihad
Abu Dhabi apartment rents saw 10% YoY rise in Q1 2025: Asteco report
26 May 2025 08:15 A. SREENIVASA REDDY (ABU DHABI)Abu Dhabi's real estate market sustained its upward momentum in the first quarter of 2025, with average apartment rents climbing 10% year-on-year (YoY) and 4% quarter-on-quarter (QoQ), according to the latest market report from real estate consultancy report noted particularly robust growth in the high-end rental segment, where rates increased between 8% and 12%. The mid-tier market also recorded solid gains, with rents rising between 5% and 8%. 'This widespread positive performance, characterised by increasing rents and high occupancy, underscores the fundamental strength and consistency of demand within Abu Dhabi's residential sector,' Asteco said in the the rise in rentals, some low-end apartments remain relatively affordable on Abu Dhabi Island. In areas like Al Khalidiyah and Al Bateen, studio apartments are available for Dh25,000 to Dh35,000 annually, while one-bedroom units range from Dh28,000 to Dh45, Central Abu Dhabi and the Corniche, studios are priced between Dh30,000 and Dh35,000 per year, and one-bedroom apartments can be rented for Dh40,000 to Dh50,000 the healthy rental gains, supply continues to come online at a steady pace. In Q1 2025 alone, approximately 1,200 new residential units were delivered across developments including Jubail Island, Bloom Living – Cordoba Phase 1, Al Jurf Gardens in Ghantoot, Al Raha Beach and Rawdhat Abu Dhabi. The total number of new residential handovers for 2025 is expected to reach 5,500 units, concentrated in key investment zones such as Yas Island, Masdar City, Saadiyat Island and Al Reem to Asteco data sheet, 700 new apartment units and 500 villa units were completed in Abu Dhabi during the first quarter of 2025. This follows the completion of 2,850 apartments and 2,750 villas in 2024. By the end of 2025, total completions are projected to reach 4,000 apartments and 1,500 villas, reflecting a continued expansion in residential supply across the office sector is also gearing up for fresh supply, with the Quartz Tower on Yas Island set to be delivered in Q2, and other major projects like Shams Tower, The Link, and City Square in the pipeline for late 2025 into terms of sales, the market saw 8,700 residential transactions between March 2024 and March 2025. These included 4,100 off-plan deals and 4,600 sales of completed units, which comprised 3,250 apartments and 1,350 villas and townhouses. Notably, transactions for completed properties grew by 6% QoQ and surged 42% YoY reflecting strong demand from both investors and prices also showed a healthy upward trajectory. Apartment prices rose 4% on QoQ and 7% YoY, with high-demand areas seeing annual gains of over 15%. Villa prices increased by 4% QoQ and 8% YoY, with premium locations such as Saadiyat Island registering annual gains exceeding 15%.Asteco observed that 'well-located villas within prime communities continue to outperform the market average', underscoring the premium that buyers place on quality and launches performed strongly, with high absorption rates within weeks of release. 'This reflects sustained buyer confidence in the long-term value and appeal of new developments,' the report noted. Going forward, Asteco said that the Abu Dhabi real estate market remains 'well positioned for continued positive performance in the near to medium term'. Although new supply may moderate the pace of growth in rentals and values, overall market momentum is expected to remain intact, with further upside potential for both capital and rental values.
Al Etihad
20-05-2025
- Politics
- Al Etihad
ADJD: Up to 2 years imprisonment and Dh200,000 fines for posting fake news, propaganda
20 May 2025 11:30 ABU DHABI (ALETIHAD)The Abu Dhabi Judicial Department (ADJD) has warned that the potential penalties for spreading rumours, fake news and anti-state propaganda are imprisonment and fines of up to Dh200, a post on its official account on X on Tuesday, ADJD clarified that according to Federal Decree-Law No. 34 of 2021 on combating rumours and cybercrime, use of the internet or any other information technology platform to post, repost, circulate or re-circulate fake news, false statements and malicious, misleading and erroneous reports, rumours that are contrary to what has been officially announced, or the spread of any sensational propaganda are punishable by imprisonment for at least one year and a fine of Dh100, the case of publishing false information or rumours that agitate public opinion against state authorities during times of pandemic, crisis or disaster, the violator could be imprisoned for at least two years and fined Dh200,000. The ADJD issued this public advisory as part of its ongoing legal and cultural awareness campaign. عقوبة نشر الشائعات والأخبار الكاذبة The punishment of spreading rumors and fake news — دائرة القضاء-أبوظبي (@ADJD_Official) May 20, 2025 Source: Aletihad - Abu Dhabi
IOL News
22-04-2025
- Business
- IOL News
Impersonation scams on the rise in South Africa: how to protect yourself
Imposter or impersonation scams are on the rise in South Africa. Recent reports highlight a significant increase in sophisticated fraud schemes involving criminals posing as legitimate authorities, service providers, or individuals to deceive victims and extract money or personal information. Examples include impersonating the South African Revenue Service (Sars), police officers, government departments, or banks. These scams often involve threats, urgent payment requests, or the promise of large sums of money. According to reports, digital banking fraud has seen a particularly alarming increase, with a 45% surge in incidents and a 47% rise in related financial losses during the past year. T he Southern African Fraud Prevention Service (SAFPS) reports a 32% increase in reported fraud incidents overall in 2024, with banking fraud making up 45% of these incidents. Laykin Abrahams, claims specialist at iTOO Special Risks, notes that this trend is underscored by the influx of claims the insurer has seen in recent months, particularly on the personal lines side. In the past two months, iTOO has received three claims totalling R589 000 from clients who were victims of impersonation fraud. 'In one case, scammers posed as police officers or members of law enforcement and called the insured, claiming there was a warrant for their arrest and required bail money to be sent via electronic funds transfer (EFT). That claim amount was for R183 000,' she says. 'In another case, the insured joined a WhatsApp group, thinking it was from one of the major banks and invested money. That claim amount was R344,000R344, a second case involving the same bank, scammers called the insured, claiming there was suspicious activity on their account. They instructed the insured to transfer funds from their legitimate account to a new account supposedly set up by the bank to secure it from the perpetrators. That claim amount was R62,000.' Abrahams explains that verification goes a long way in preventing these scams and warns that people should always be on the lookout for potential criminal activity, especially when contacted to transfer money or provide personal information. 'Transferring funds into an account as prompted by someone online is never wise. If you receive a call about suspicious activity on your account, it's always best to visit the bank in person to verify the information,' she says. 'While it may seem old-fashioned, it's safer than taking risks online. We've seen an increase in investment scams on platforms like WhatsApp, where people join groups thinking they are legitimate and end up losing money. Verification goes a long way in preventing these scams.' Sadiyah Mather, claims specialist at iTOO, cautions that people should always do their own investigative work and not be bullied or forced into taking action based on information provided by scammers. 'Always verify the details, do the checks, and seek advice from someone you trust who can assist in such situations. Banks will never ask for PINs over the phone, and any authentication usually involves prompts through your banking app, requiring biometrics for approval,' she says.
