Moving and Living in Dubai?
Hello,
I am a US Citizen, with background in Finance, Mortgages, Real Estate, and business management skills. Lately, I have comtemplated moving to Dubai, and relocating my family. I have established a contact in Dubai, and recommends it highly, considering my background, and the booming real estate market in Dubai. Currently, I have residual income of approx. 40,000/AED a month, and the potential to earn as much once relocated, or more. I looking to rent a villa, or 4 bedrooms and need some suggestions as far as total cost of living. I understand that Dubai, commands ultra expensive housing rents, but what is a comfortable life style with pocket change left over for leisure, and savings.
If the AED 40K is IN ADDITION to rent and school fees for your children you're golden. If you must pay rent and school fees out of the AED 40K you will have to live in a flat in Sharjah, definitely not a villa, and commute 2 hours each way to Dubai to work; probably you'll need to send your kids to an Indian school rather than an American one and your standard of living will not be what you would hope. It's hard to tell you what rent would be because we don't know where you'd be working and where you'd hope to live but why not have a look at the RE section of the local Gulf News to get an idea: http://tinyurl.com/6gmm5y. Also research schools and fees – just call up if necessary – before you negotiate a contract.
Things to try to get built into your contract – school fees and any annual fee increases; rent of a given amount and any annual increases; annual flights home for you and each family member. Even better if they will include a car, petrol and Salik (road tolls) – gas, water, electricity and AC would be excellent as well.
The reason for this is that real inflation (not officially acknowledged) is between 25% and 40% here (depending on whether you're talking about food, rent, school fees, etc.) and your company won't be able to increase your salary by that same percentage each year. The more inflation-prone expenses you can build into your contract in addition to a fixed salary the better off you'll be. By the way, the UAE dirham (AED) is pegged to the US dollar at an exchange rate of USD 1 to AED 3.67.
Here are some (conservative) rough monthly numbers to consider:
School fees in an American school PER CHILD: AED 5,500
(Books, activities, uniforms etc. are extra)
Rent in a 2-3 BR flat in Dubai: AED 15,000
(AED 18-20,000 for a 4 BR)
Municipality housing tax: AED 750 (5% of the rent)
Two cars: AED 5,000
(No bus service so your wife will need to drive the children to and from school, sports and other activities):
Petrol: AED 1,800
Road tolls: AED 600
Gas, electricity and water: AED 1,800
Food: AED 4,000
Telephone, internet, cable TV: AED 2,000
if they will provide you the housing then it would be better for you…
there will be no hassles for you to look for a villa (since you are a family)….
BUT
is AED40,000 is inclusive for everything then i think you and family will be alright…
depends on your job location too… find a villa in sharjah or ajman area and hour drive but it is cheap and not too much crowded compared dubai…you can get a rental of AED10,000 per month but if you get a villa in Dubai area or Jumeirah then expect to pay 15thousand to 20thousand…
References :
It is very important that you earn much more then you do in the US. As an American, I can assure you that you would not like to live in sharjah or ajman. Why? It is the old Dubai and not many westerns live there. Renting a villa is very expensive and expect to pay a minimum of about 230,000AED a year in rent in the Dubai Marina and Jumeirah area. These are fantastic places to live. With children a villa would be better, but you also must consider how much it is going to cost to keep the place cool in the summer months, electricity is not cheap. Most people do live in Apartments, as they are cheaper to rent and the air conditioner is usually included. I personally don't believe 40k AED is enough to afford a villa. Schooling is also another expense and again, this is not cheap. Just trying to help you see the big picture. Good Luck!!
References :
If the AED 40K is IN ADDITION to rent and school fees for your children you're golden. If you must pay rent and school fees out of the AED 40K you will have to live in a flat in Sharjah, definitely not a villa, and commute 2 hours each way to Dubai to work; probably you'll need to send your kids to an Indian school rather than an American one and your standard of living will not be what you would hope. It's hard to tell you what rent would be because we don't know where you'd be working and where you'd hope to live but why not have a look at the RE section of the local Gulf News to get an idea: http://tinyurl.com/6gmm5y. Also research schools and fees – just call up if necessary – before you negotiate a contract.
Things to try to get built into your contract – school fees and any annual fee increases; rent of a given amount and any annual increases; annual flights home for you and each family member. Even better if they will include a car, petrol and Salik (road tolls) – gas, water, electricity and AC would be excellent as well.
The reason for this is that real inflation (not officially acknowledged) is between 25% and 40% here (depending on whether you're talking about food, rent, school fees, etc.) and your company won't be able to increase your salary by that same percentage each year. The more inflation-prone expenses you can build into your contract in addition to a fixed salary the better off you'll be. By the way, the UAE dirham (AED) is pegged to the US dollar at an exchange rate of USD 1 to AED 3.67.
Here are some (conservative) rough monthly numbers to consider:
School fees in an American school PER CHILD: AED 5,500
(Books, activities, uniforms etc. are extra)
Rent in a 2-3 BR flat in Dubai: AED 15,000
(AED 18-20,000 for a 4 BR)
Municipality housing tax: AED 750 (5% of the rent)
Two cars: AED 5,000
(No bus service so your wife will need to drive the children to and from school, sports and other activities):
Petrol: AED 1,800
Road tolls: AED 600
Gas, electricity and water: AED 1,800
Food: AED 4,000
Telephone, internet, cable TV: AED 2,000
References :
Thats why we are here to help you.
References :
http://www.foundok.com