Dubai

Philippine Consulate in Dubai undergoes renovation to prevent spread of COVID-19

Philippine Consulate 03-1602497829407
New modular service counters provide an extra layer of protection to curb the spread of COVID-19 at the consulate.
Image Credit: Supplied

Dubai: The Philippine Consulate General in Dubai has recently undergone renovations and has introduced new modular service counters to provide an extra layer of protection to curb the spread of COVID-19.

The reception area, passport processing section, passport coordinator’s office, encoding section, notarial processing section and the Assistance-to-Nationals (ATN) section are among the nine offices that were renovated with office modular partitions, Philippine consul-general Paul Raymund Cortes told Gulf News.

“While the Consulate strives to creatively accommodate the demand for consular services by our kababayan (compatriots) here in Dubai and the Northern Emirates during this time of pandemic, we also aim to provide them comfort and safety while they are inside the Consulate premises. We would like to welcome them to an improved Consulate,” Cortes said. “More importantly, we want to make sure that if and when they are at the consulate, there is minimal physical interaction and enough distancing between clients and our personnel so there is less risk of spreading the virus among themselves,” he underlined.

Philippine Consulate 02-1602497831368
The renovation is part of the Philippine Department of Foreign Affairs’ (DFA) commitment to provide better facilities and services.
Image Credit: Supplied

Cortes said the physical renovation of the consulate is part of the Philippine Department of Foreign Affairs’ (DFA) commitment to provide better facilities and services to  overseas Filipinos and in adherence to UAE’s call for a responsible return to a ‘new normal’.

How to reach the Philippine Consulate

* WhatsApp — +971 56 4177558
* ATN Section — +971 56 5015755/ +971 56 5015756
Email Addresses:
* Civil Registry Unit (CRU) / Report of Birth and Death: [email protected]
* Notarials: [email protected]
*Passport Renewal: [email protected]
* Passport Releasing: [email protected]

Continue Reading

Dubai Developers’ Slip From Stars to Duds Deepens in Homes Glut

(Bloomberg) — Dubai real estate stocks were once the stars for investors betting on the city’s booming economy. But their fall from grace has been spectacular and seems set to continue, given an abundance of unsold homes and scant prospects for a recovery in the oil-rich region.

Shares in Emaar Properties PJSC, an industry bellwether and the developer of Burj Khalifa, the world’s tallest tower, have dropped almost 80% from their 2014 peak, when average real estate prices in the emirate were about 30% higher. Competitor Damac Properties Dubai Co. has posted a similar slump since a 2017 high. Smaller player Union Properties PJSC, which is in talks to restructure debt, trades at a 90% discount from its 2005 levels.



graphical user interface, chart, histogram: Burj Khalifa developer Emaar Properties has declined for 15 years


© Bloomberg
Burj Khalifa developer Emaar Properties has declined for 15 years

Not even a majority of buy recommendations from analysts, thanks to cheap valuations and expectations of government support, is enough to spur a change in sentiment. That reflects a supply glut that the companies themselves helped create, and which is worsening because of an exodus of the expatriate workers who account for most of the city’s population.

“I looked at Dubai property several times in the past, but the picture was unchanged every time, exactly because of the same issues — huge unsold stock levels and continued development activity,” said Ekaterina Iliouchenko, a portfolio manager at Union Investment Privatfonds GmbH in Frankfurt.

An index tracking eight Dubai real estate stocks is trading near the biggest discount to peers in emerging markets since 2011.



chart: Dubai stocks are trading cheaply compared with EM peers


© Bloomberg
Dubai stocks are trading cheaply compared with EM peers

Scrutiny of real estate developers and construction companies intensified in recent days as shareholders of Arabtec Holding PJSC, which helped to build the Burj Khalifa, voted to dissolve the firm. The demise of the

Continue Reading