In 2009, director James Cameron’s ground-breaking Avatar made headlines around the world thanks to the eye-watering $237 million it cost to make.
Thirteen years later, as Cameron returns with Avatar: The Way of Water, that figure seems not exactly quaint, but almost a bargain as it doesn't even make the list of the 10 costliest films of all time. The long-awaited sequel came in about $13 million to make.
It’s also a little-known fact to audiences that while Marvel Studios' $325 million budget for Avengers: Infinity War in 2018 may seem huge, Hollywood production companies often spend the same amount again on marketing. It’s no wonder then that modern mega-movies need to hit the billion-dollar mark to break even.
Here are the 10 most expensive films of all time…
10. John Carter, 2012, $264 million
The sci-fi movie was supposed to kick off an entire franchise for Disney, but it flopped dramatically at the box office, panned by audiences and critics alike.
Grossing only $73 million after a $264 million budget, it had been attempted to make the film — which was based on the comic book created by Tarzan creator Edgar Rice Burroughs — since the 1930s.
With Friday Night Lights actor Taylor Kitsch starring in the title role, the film's marketing campaign was blamed for its failure as audiences were left confused about the story.
Joint 8. Solo: A Star Wars Story, 2018, and Star Wars: The Rise of Skywalker, 2019, $275 million
Both Star Wars films clocked in with the same budget.
Solo: A Star Wars Story was the origin story of one of the franchise’s most beloved characters, with actor Alden Ehrenreich in the title role of Han Solo.
However, its worldwide gross of $393.2 million was considered a box office failure after the billion dollar-plus grossing Star Wars: The Last Jedi. However, Star Wars: The Rise of Skywalker grossed more than $1 billion just before the pandemic wreaked havoc on movie-making and cinemas around the world.
Joint 6. Pirates of the Caribbean: At World’s End, 2007, and Justice League, 2017, $300 million
The third film in the popular Pirates of the Caribbean franchise starring Keira Knightley, Orlando Bloom and Johnny Depp more than made back its budget, scoring more than $960 million at the global box office and becoming the highest-grossing film of 2007.
On the other hand, Justice League, which would become the subject of negative press after Joss Whedon took over from director Zack Snyder, ended up losing Warner Bros Pictures an estimated $60 million when it failed to recoup its massive budget.
5. Avengers: Infinity War, 2018, $325 million
Audiences can argue until they’re blue in the face about whether or not Chris Pratt’s Star Lord was ultimately to blame for Thanos’ finger snap, but one thing that isn’t up for debate is how successful the film was.
Infinity War earned more than $2 billion worldwide, making the estimated $150 million advertising spent mere pocket change.
4. Avatar: The Way of Water, 2022, $350 million
Director Cameron has revealed that the movie will need to make $2 billion to break even, following in the footsteps of 2009’s Avatar which made $2.9 billion and remains the highest-grossing film in history.
With the trailer racking up 148 million views in 24 hours when it was released back in May, the film catches up with Sam Worthington and Zoe Saldana’s Jake Sully and Neytiri 10 years later, as they and their five children try to evade the humans who have returned for Jake.
3. Avengers: Endgame, 2019, $356 million
The film was shot back-to-back with its predecessor Infinity War and made $2.7 billion at the box office.
Holding the title of the highest-grossing film of all time from July 2019 until March last year, audiences were wowed by the famous battle scene in which all those who Thanos had reduced to ash returned to battle the villain, and for film fans to say a poignant farewell to one of the superheroes.
2. Avengers: Age of Ultron, 2015, $365 million
Thanks to its special effects in which an entire city was lifted off the ground, Age of Ultron cost millions to make, but also grossed more than $1.4 billion worldwide.
The Robert Downey Jr and Scarlett Johansson-starrer became the fourth-highest-grossing movie of 2015, with filming taking place in locations including South Africa, England, Italy, South Korea, Bangladesh and New York.
1. Pirates of the Caribbean: On Stranger Tides, 2011, $379 million
Depp returned as Captain Jack Sparrow for the fourth instalment of the franchise, which was also the most expensive despite the fact Disney had stipulated a lower budget for the film than its predecessors.
Despite spending on 10 visual effects companies and commissioning 50 different fountains of youth to choose from, On Stranger Tides became the third highest-grossing film of 2011, bringing in $1.04 billion.
BELGIUM%20SQUAD
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Specs – Taycan 4S
Engine: Electric
Transmission: 2-speed auto
Power: 571bhp
Torque: 650Nm
Price: Dh431,800
Specs – Panamera
Engine: 3-litre V6 with 100kW electric motor
Transmission: 2-speed auto
Power: 455bhp
Torque: 700Nm
Price: from Dh431,800
Global Fungi Facts
• Scientists estimate there could be as many as 3 million fungal species globally
• Only about 160,000 have been officially described leaving around 90% undiscovered
• Fungi account for roughly 90% of Earth's unknown biodiversity
• Forest fungi help tackle climate change, absorbing up to 36% of global fossil fuel emissions annually and storing around 5 billion tonnes of carbon in the planet's topsoil
The biog
DOB: March 13, 1987
Place of birth: Jeddah, Saudi Arabia but lived in Virginia in the US and raised in Lebanon
School: ACS in Lebanon
University: BSA in Graphic Design at the American University of Beirut
MSA in Design Entrepreneurship at the School of Visual Arts in New York City
Nationality: Lebanese
Status: Single
Favourite thing to do: I really enjoy cycling, I was a participant in Cycling for Gaza for the second time this year
Sholto Byrnes on Myanmar politics
COMPANY PROFILE
Company name: BorrowMe (BorrowMe.com)
Date started: August 2021
Founder: Nour Sabri
Based: Dubai, UAE
Sector: E-commerce / Marketplace
Size: Two employees
Funding stage: Seed investment
Initial investment: $200,000
Investors: Amr Manaa (director, PwC Middle East)
UEFA CHAMPIONS LEAGUE FIXTURES
All kick-off times 10.45pm UAE ( 4 GMT) unless stated
Tuesday
Sevilla v Maribor
Spartak Moscow v Liverpool
Manchester City v Shakhtar Donetsk
Napoli v Feyenoord
Besiktas v RB Leipzig
Monaco v Porto
Apoel Nicosia v Tottenham Hotspur
Borussia Dortmund v Real Madrid
Wednesday
Basel v Benfica
CSKA Moscow Manchester United
Paris Saint-Germain v Bayern Munich
Anderlecht v Celtic
Qarabag v Roma (8pm)
Atletico Madrid v Chelsea
Juventus v Olympiakos
Sporting Lisbon v Barcelona
Ten tax points to be aware of in 2026
1. Domestic VAT refund amendments: request your refund within five years
If a business does not apply for the refund on time, they lose their credit.
2. E-invoicing in the UAE
Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption.
3. More tax audits
Tax authorities are increasingly using data already available across multiple filings to identify audit risks.
4. More beneficial VAT and excise tax penalty regime
Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.
5. Greater emphasis on statutory audit
There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.
6. Further transfer pricing enforcement
Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes.
7. Limited time periods for audits
Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion.
8. Pillar 2 implementation
Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.
9. Reduced compliance obligations for imported goods and services
Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations.
10. Substance and CbC reporting focus
Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity.
Contributed by Thomas Vanhee and Hend Rashwan, Aurifer
5 of the most-popular Airbnb locations in Dubai
Bobby Grudziecki, chief operating officer of Frank Porter, identifies the five most popular areas in Dubai for those looking to make the most out of their properties and the rates owners can secure:
• Dubai Marina
The Marina and Jumeirah Beach Residence are popular locations, says Mr Grudziecki, due to their closeness to the beach, restaurants and hotels.
Frank Porter’s average Airbnb rent:
One bedroom: Dh482 to Dh739
Two bedroom: Dh627 to Dh960
Three bedroom: Dh721 to Dh1,104
• Downtown
Within walking distance of the Dubai Mall, Burj Khalifa and the famous fountains, this location combines business and leisure. “Sure it’s for tourists,” says Mr Grudziecki. “Though Downtown [still caters to business people] because it’s close to Dubai International Financial Centre."
Frank Porter’s average Airbnb rent:
One bedroom: Dh497 to Dh772
Two bedroom: Dh646 to Dh1,003
Three bedroom: Dh743 to Dh1,154
• City Walk
The rising star of the Dubai property market, this area is lined with pristine sidewalks, boutiques and cafes and close to the new entertainment venue Coca Cola Arena. “Downtown and Marina are pretty much the same prices,” Mr Grudziecki says, “but City Walk is higher.”
Frank Porter’s average Airbnb rent:
One bedroom: Dh524 to Dh809
Two bedroom: Dh682 to Dh1,052
Three bedroom: Dh784 to Dh1,210
• Jumeirah Lake Towers
Dubai Marina’s little brother JLT resides on the other side of Sheikh Zayed road but is still close enough to beachside outlets and attractions. The big selling point for Airbnb renters, however, is that “it’s cheaper than Dubai Marina”, Mr Grudziecki says.
Frank Porter’s average Airbnb rent:
One bedroom: Dh422 to Dh629
Two bedroom: Dh549 to Dh818
Three bedroom: Dh631 to Dh941
• Palm Jumeirah
Palm Jumeirah's proximity to luxury resorts is attractive, especially for big families, says Mr Grudziecki, as Airbnb renters can secure competitive rates on one of the world’s most famous tourist destinations.
Frank Porter’s average Airbnb rent:
One bedroom: Dh503 to Dh770
Two bedroom: Dh654 to Dh1,002
Three bedroom: Dh752 to Dh1,152
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Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.
Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.
“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.
Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.
“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.
Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.
From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.
Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.
BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.
Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.
Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.
“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.
Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.
“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.
“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”
The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”
