How much is your rent going to cost in 2016?

Based on the rental calculator update by Real Estate Regulatory Authority (Rera), 2016 rents in many Dubai communities will drop compared to 2015. The calculator provides leasing rates for flats and villas and is used as a means to determine whether your rent will increase or decrease. Current data shows that there is a 2.3% to 14% decrease in the leasing rates for one-bedroom apartments. However some communities such as Business Bay and Downtown have experienced an increase in rates.

Browse through a range of home loans, personal loans, car loans and business loans in the UAE.

 

Emirates ID to replace your health insurance

According to Dubai Healthy Authority (DHA) medical insurance cards for UAE resident will soon be replaced by the Emirates ID in 2016. Over the course of the year, residents will be able to present their ID at health centres in Dubai and get insurance benefits. The transition which is currently in process already allows residents with Saada and Enaya insurance to use their Emirates ID’s at health centres.

Read more on your Emirates ID and all its potential functions

 

Increase in water and electricity rates for Abu Dhabi residents

Residents in Abu Dhabi will now be paying more for their water and electricity bills. The increase in rates is going to be implemented starting this month. According to Abu Dhabi Distribution Company (ADDC), the main reason for the increase is to promote energy conservation among residents. The increase in rates are as follows:

  • Expats living in flats and villas who exceed the daily limit of 700 litres will be have to pay AED 10.55 per 1000 litres.
  • Expats living in villas who exceed the daily limit of 200 kilowatts per day will have to pay  31.8 fils per kilowatt.
  • Expats living in flats who exceed the daily of 20 kilowatts will be have to pay the same rate.

 

New labour law rules for UAE

Based on the new labor law, employees can now move from one job to another freely. The law which is being enforced at the start of 2016 will aim to improve relationships between employee and employer. The purpose of the law is to bring about more transparency , implementation of standard employment contracts and define the terms and conditions for termination.

Changing jobs? Find out what happens to your bank account

 

UAE fuel prices lowest in five years

Starting January 1st, UAE fuel prices have dropped. The current rates are the lowest since 2011 and are meant to ease inflation in the UAE. Currently diesel is priced at AED 1.61 per litre, Super 98 is priced AED 1.69 per litre and  Special 95 at Dh1.58 per litre.