In the UAE, the legality of purchasing property with a zero percent down payment has sparked significant interest among potential buyers. While some real estate agents promote such offers, it is crucial to understand the legal framework governing these transactions. The UAE Central Bank’s mortgage regulations play a pivotal role in shaping these practices. According to Article 3 of the UAE Central Bank Regulations on Mortgage Loans (Notice No. 226/2013), buyers are required to contribute a minimum amount when financing property through a bank mortgage. For UAE nationals, the maximum Loan to Value (LTV) ratio varies based on the property’s value and purpose. For instance, first-time owner-occupiers can secure up to 85% financing for properties valued at Dh5 million or less, while expatriates are limited to 80% for the same category. For properties exceeding Dh5 million, the LTV ratios drop to 75% for nationals and 70% for expatriates. Additionally, off-plan properties are subject to a maximum LTV of 50%, reflecting the higher risks associated with such investments. These regulations make zero percent down payment offers through bank mortgages legally impermissible. However, real estate developers may offer alternative payment plans that bypass traditional mortgage structures. In such cases, buyers pay instalments directly to the developer, potentially avoiding the Central Bank’s mortgage rules. While this approach may seem appealing, buyers must exercise caution. It is essential to scrutinize the payment schedule, handover terms, and any hidden finance charges that developers might impose. Legal expert Ashish Mehta emphasizes the importance of due diligence in such transactions. As the founder of Ashish Mehta & Associates, he advises potential buyers to thoroughly understand the terms and seek professional guidance before committing to any property purchase. For further inquiries, readers can contact Khaleej Times or visit www.amalawyers.com.
标签： North America
北美洲
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UAE: Artificial reefs installed in 3 emirates to boost fish stocks, food security
The UAE Ministry of Climate Change and Environment (MoCCAE) has unveiled a groundbreaking initiative to install artificial reefs across three emirates—Sharjah, Ajman, and Ras Al Khaimah. This strategic move aims to bolster fish stocks, promote sustainable fisheries, and enhance national food security while addressing the adverse effects of climate change on coastal and marine ecosystems. Hiba Obaid Al Shehhi, Acting Assistant Undersecretary for the Biodiversity and Marine Life Sector at MoCCAE, emphasized the importance of these efforts in safeguarding marine resources and supporting the fishing industry. The artificial reefs serve as accessible fishing grounds and provide safe habitats for marine species, thereby revitalizing biodiversity. This initiative is part of the broader ‘Artificial Caves Programme,’ launched in 2016, which focuses on creating artificial nurseries to foster fish breeding and growth. The UAE has also undertaken other significant projects, such as the ‘Abu Dhabi Coral Gardens,’ which aims to install 40,000 eco-friendly artificial corals across 1,200 square kilometers of coastal and deep waters by 2030. A two-year study from 2021 to 2023 demonstrated promising results, with 17 invertebrate species and 15 fish species thriving in the newly established reef modules. These efforts underscore the UAE’s commitment to combating marine degradation and ensuring the sustainability of its marine environments.
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Mexico: 23 people killed after fire at discount store in northwestern city
A devastating fire erupted on Saturday in a discount store in Hermosillo, a city in northwestern Mexico, resulting in the tragic loss of 23 lives, including children. Mexican President Claudia Sheinbaum expressed her profound condolences to the bereaved families in a heartfelt message on X, formerly known as Twitter. Sheinbaum also directed the interior minister to deploy support teams to aid the victims’ families and those injured in the blaze. Hermosillo Mayor Antonio Astiazaran confirmed the casualties in a separate post on the same platform. The cause of the fire remains undetermined, as stated by the city’s fire chief during a brief social media interview. This incident has cast a somber shadow over the community, highlighting the urgent need for enhanced safety measures in public spaces.
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Tracking the ICE tactics used in Trump’s mass deportation drive
In a comprehensive investigation, BBC Verify has meticulously analyzed over 70 videos to shed light on the enforcement strategies employed by U.S. Immigration and Customs Enforcement (ICE) under President Donald Trump’s administration. This extensive review reveals the aggressive measures taken as part of Trump’s broader crackdown on illegal immigration. The footage captures various tactics, including high-profile raids, workplace inspections, and increased detentions, which have significantly impacted immigrant communities across the nation. The investigation underscores the heightened intensity of ICE operations during this period, reflecting the administration’s hardline stance on immigration enforcement. By piecing together these visual records, BBC Verify provides a detailed account of how Trump’s immigration policies have been implemented on the ground, offering a clearer understanding of their far-reaching consequences.
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Dodgers seal back-to-back World Series titles
In a historic and nail-biting finale, the Los Angeles Dodgers secured their ninth World Series title, marking their third championship in six years under manager Dave Roberts. The Dodgers triumphed over the Toronto Blue Jays 5-4 in an extra-inning Game 7, becoming the first team in 25 years to win back-to-back World Series titles. The decisive moment came in the top of the 11th inning when catcher Will Smith hit a home run, breaking the deadlock and propelling the Dodgers to victory. The Blue Jays had a chance to tie the game in the bottom of the 11th, but a double play ended their hopes, sparking wild celebrations among the Dodgers. The game was a rollercoaster, with the Dodgers overcoming a 3-0 deficit after Bo Bichette’s three-run homer in the third inning. Solo home runs by Max Muncy and Miguel Rojas in the ninth inning tied the game at 4-4, setting the stage for Smith’s heroics. The series was played against the backdrop of political and trade tensions between the U.S. and Canada, but the Dodgers’ resilience and strategic gameplay ultimately prevailed. Japanese superstar Shohei Ohtani started as pitcher but struggled early, though he remained in the game as a designated hitter under the ‘Ohtani rule.’ The Blue Jays’ veteran starter Max Scherzer, the oldest pitcher in a World Series Game 7 at 41, exited with a lead, but the Dodgers rallied. The game saw frequent pitching changes, tense moments, and a bench-clearing confrontation in the fourth inning. Yoshinobu Yamamoto, the Dodgers’ winning pitcher from Games 2 and 6, was named the series’ Most Valuable Player. This victory cements the Dodgers’ legacy as one of baseball’s most dominant franchises.
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New Yorkers could pick a political newcomer to run their city – and take on Trump
Zohran Mamdani, the 34-year-old Democratic nominee for New York City mayor, is on the verge of making history as the youngest mayor in over a century and the first Muslim and South Asian leader of the city. His meteoric rise from a relatively unknown hip-hop artist and housing counselor to the frontrunner for the mayoral race has captivated New Yorkers. With a comfortable lead in the polls, Mamdani’s campaign has resonated with voters disillusioned by the Democratic Party’s current state and the rising cost of living in the city. His promises of universal childcare, rent freezes, free public buses, and city-run grocery stores have struck a chord with a population grappling with affordability issues. However, his ambitious agenda, funded by new taxes on corporations and millionaires, has raised concerns among critics who question his lack of executive experience and ability to deliver on his promises. Mamdani’s relationship with the Democratic Party establishment is also complex, as he positions himself as a democratic socialist aligned with figures like Bernie Sanders and Alexandria Ocasio-Cortez. His candidacy has drawn both fervent support and sharp criticism, particularly from former Democratic Governor Andrew Cuomo, who accuses him of an anti-business agenda, and Republican nominee Curtis Sliwa, who mocks his limited political resume. Despite these challenges, Mamdani’s ability to connect with voters through viral videos and outreach to content creators has been a key factor in his success. His victory would signal a rejection of traditional politics and a shift toward progressive policies in New York City. However, the road ahead is fraught with challenges, including navigating a hostile Trump administration, addressing public safety concerns, and managing the city’s $116 billion budget. As the election approaches, Mamdani’s campaign continues to inspire hope and skepticism in equal measure, leaving New Yorkers to decide whether he is the transformative leader the city needs.
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Dubai: Gold’s price swings ‘healthy correction’, but experts warn of further volatility
Gold prices in the UAE showed modest gains on Friday, reflecting resilience in local demand and support from global factors. According to the Dubai Gold and Jewellery Group, 24-carat gold closed at Dh482.75 per gram, up from Dh479 the previous day. Other variants, including 22-carat, 21-carat, and 18-carat gold, also saw slight increases. These gains occurred during a week when global bullion prices were retracting from record highs, sparking debates among investors and market analysts.
Internationally, gold prices surged to a historic high of around $4,300 per ounce earlier this month before slipping to approximately $4,050, marking a 5.8% decline. Market strategists view this dip as a healthy correction following extreme overbought conditions. Technical indicators, such as the Relative Strength Index (RSI), had signaled the need for consolidation, with the RSI reaching an unprecedented 92 during the rally.
Alex Kuptsikevich, chief market analyst at FxPro, noted that the correction is not yet over. He attributed gold’s record high to a rare alignment of macroeconomic anxieties, including devaluation trading, expectations of aggressive monetary expansion by the Fed, geopolitical tensions, and central bank purchases. However, these factors are now easing, with the US and China finding common ground, the Middle East conflict cooling, and the Fed remaining cautious on rate cuts.
Despite the recent pullback, gold’s long-term bullish case remains supported by structural factors such as central bank reserve diversification, high government debt levels, and growing investor interest in gold as a hedge against currency debasement. Analysts emphasize that the current correction is a pause rather than a trend reversal, with additional short-term downside possible. Seasonal patterns, particularly October’s volatility, also play a role, as institutional portfolio adjustments often lead to selling pressure.
In Dubai, the emirate’s status as a global bullion trading hub and key retail jewellery market means price swings quickly influence buying behavior. Traders reported steady footfall this week, with shoppers viewing the dip in global prices as a favorable entry point. Retailers anticipate increased demand ahead of the festive and wedding season, especially if prices stabilize around current levels. Gulf jewellery buyers, traditionally price-sensitive but value-driven, often see dips as opportunities rather than warnings.
Gold mining stocks have felt the impact more acutely, with prices declining by 15-20%, compared to bullion’s less than 6% drop. Large-cap producers with stronger balance sheets have fared better, while mid-cap and exploration companies have seen steeper losses as investors reduce speculative exposure. This pattern is characteristic of retracement phases in commodity bull markets.
In summary, gold’s recent price movements represent a healthy correction rather than a collapse. While near-term volatility is expected, the long-term outlook remains positive, supported by fundamental factors and investor confidence in gold’s role as a hedge against economic uncertainty.
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Dubai Duty Free hits all-time high October sales with over Dh800 million
Dubai Duty Free has set a new benchmark in its retail operations, announcing unprecedented October sales of Dh805.6 million (US$220.7 million). This achievement marks the eighth record-breaking month out of ten in 2025, solidifying the company’s consistent growth trajectory. October’s sales surpassed the previous October record of Dh692 million (US$189 million) set in 2023, making it the third-highest monthly sales in the company’s history, trailing only behind the all-time high of Dh821.4 million (US$225 million) recorded in December 2024. The sales growth outpaced passenger traffic by at least 10%, with a remarkable 19.31% increase compared to October 2024. Year-to-date sales reached Dh6.88 billion (US$1.885 billion), reflecting an 8.72% increase over the same period last year. Perfumes remained the top-selling category, generating Dh139.9 million (US$38.3 million), while gold sales, driven by the Diwali season, ranked second with Dh97.2 million (US$26.6 million). Confectionery also saw record sales of Dh78 million (US$21.4 million), with ‘Dubai Chocolate’ leading the charge. Luxury fashion boutiques, including Louis Vuitton, Chanel, Dior, Gucci, and Cartier, contributed significantly, with sales up 43.5% over October 2024. The opening of new boutiques in Concourse A has further bolstered sales, with standout transactions including high-value luxury items. Sales across key regions and markets, including Africa, the Americas, Europe, the Middle East, the Far East, and Australasia, all rose by more than 20%, with Russia and Africa showing notable increases.
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Trump remodels Lincoln bathroom in latest White House renovation
US President Donald Trump has unveiled the latest in a series of high-profile renovations to the White House, this time focusing on the Lincoln Bedroom’s bathroom. The newly redesigned space features black and white marble with gold fixtures, which Trump claims are ‘very appropriate for the time of Abraham Lincoln.’ The president shared images of the updated bathroom on social media, criticizing its previous 1940s art deco green tile style as ‘totally inappropriate for the Lincoln Era.’
The Lincoln Bedroom, originally part of Abraham Lincoln’s office and cabinet room, underwent significant changes during former President Harry Truman’s extensive White House renovations in the late 1940s. Historical records from the White House Historical Association indicate that Lincoln’s office and bedroom were once adorned with green and gold wallpaper. Trump’s latest update includes gold accents for the sink, bathtub faucet, shower door, and a chandelier.
This renovation is part of Trump’s broader efforts to leave his mark on the White House, which has included the demolition of the East Wing to make way for a multi-million-dollar ballroom and the transformation of the Rose Garden’s lawn into a stone patio. These changes have drawn sharp criticism from conservation groups and political opponents, who argue that the alterations undermine the historical integrity of the building. Conservationists have called for public review before such modifications, claiming they overwhelm the White House’s classical style.
Democrats have seized on the renovations as evidence of misplaced priorities, particularly as the government shutdown enters its second month. Senate Minority Leader Chuck Schumer criticized Trump on social media, stating, ‘Donald Trump actually cares more about his toilet than he does about fixing your healthcare.’ Democrats are pushing to renew expiring health insurance subsidies, which they argue are critical for American families, while Republicans have deferred discussions until the government reopens.
Trump’s penchant for opulent design has also extended to the Oval Office, where he has added gold-framed portraits, mirrors, and a gold leaf presidential seal on the ceiling. As the debate over the White House’s transformation continues, the renovations remain a contentious symbol of Trump’s presidency.
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India’s Rohan Bopanna bids farewell to professional tennis after 20 ‘unforgettable years’
Indian tennis legend Rohan Bopanna has officially announced his retirement from professional tennis, marking the end of a remarkable 20-year career. The 45-year-old doubles star made his final appearance at the Paris Masters 1000, partnering with Alexander Bublik, in a fitting farewell to a venue that has been pivotal in his journey. Bopanna’s retirement comes after a year of historic achievements, including becoming the oldest man in tennis history to win a Grand Slam title and the oldest World No. 1 doubles player.
In a heartfelt statement, Bopanna reflected on his career, saying, ‘How do you bid farewell to something that gave your life its meaning? After 20 unforgettable years on tour, it’s time… I’m officially hanging up my racquet. From chopping wood in Coorg to strengthen my serve, to standing under the lights of the biggest arenas in the world, it feels surreal. Representing India has been the greatest honour of my life, and every time I stepped on court, I played for that flag, that feeling, that pride.’
Bopanna’s legacy is one of passion, perseverance, and excellence. He has represented India with distinction, finishing fourth at the Rio 2016 Olympics alongside Sania Mirza and being a cornerstone of the Davis Cup team for over two decades. Beyond his competitive achievements, Bopanna has been instrumental in promoting tennis in India. He recently brought UTR Tennis Pro to the country and is actively involved in grassroots and development initiatives through his academy, nurturing the next generation of Indian tennis talent.
As he transitions away from professional competition, Bopanna will remain connected to the sport. He is set to participate in the Tennis Premier League (TPL) Season 7, scheduled from December 9 to 14 at the Gujarat University Tennis Stadium in Ahmedabad. His retirement marks the end of an era but also the beginning of a new chapter in his lifelong dedication to tennis.