Giulio Zauner, the general manager of Ferrari Middle East & Africa, is excited about the future. Courtesy Ferrari
Giulio Zauner, the general manager of Ferrari Middle East & Africa, is excited about the future. Courtesy Ferrari
Giulio Zauner, the general manager of Ferrari Middle East & Africa, is excited about the future. Courtesy Ferrari
Giulio Zauner, the general manager of Ferrari Middle East & Africa, is excited about the future. Courtesy Ferrari

70 years and thrill of Ferrari continues to drive on


  • English
  • Arabic

In 1947, the year in which Ferrari became a carmaker, Europe was a vastly different place – a continent still rebuilding after the ravages of the Second World War.

In Italy, a new constitution was being drafted, which would in part help to wipe away the bitter memories of Benito Mussolini’s fascist regime. And into this brave new world, Enzo Ferrari launched the 125 S, powered by a 1.5L V12 engine. While the car was a formidable two-seater racer, Ferrari’s commercial beginnings were actually somewhat inauspicious – the 125 S was ostensibly only first put on sale to fund the company’s motorsport endeavours.

Fast-forward 70 years, and the Prancing Horse has become one of the most-recognisable brands on the planet, with a glittering garage of cars past and present that continues to excite everybody from enthusiastic children to billionaire collectors. It speaks volumes that seven of the most-expensive cars ever sold at auction are Ferraris.

But as it celebrates moving into its eighth decade, Ferrari isn’t content to sit on its laurels and bask in the glory of its unrivalled history.

Its 70th anniversary this year, indeed, is set to be a forward-looking 12 months full of special editions, taking in more than 60 countries for surprise events, many of which will be in the UAE and wider Middle East, long a cornerstone in the Ferrari sales book.

For Ferrari’s regional general manager Giulio Zauner, the celebration isn’t about chest-puffing or self-congratulatory fluff, however, with his focus firmly on the company’s customers.

“As Ferrari, we really want to do something with clients, not just show off – this is not Ferrari,” he says. “And I tell you, we will surprise. We cannot tell you more, but we will do something, let me say, outstanding.”

There’s no denying, however, that the limited-run special editions are eye-catching. Several were launched at last year’s Paris Motor Show, including an F12Berlinetta called The Stirling, inspired by the 250 GT Berlinetta SWB driven by Stirling Moss; The Schumacher, a 488 GTB that draws on the F2003-GA Formula One car that Michael Schumacher drove to the World Championship in 2003, part of a run of six constructors’ titles for Ferrari; and The Steve McQueen California T, evoking the spirit of the 1963 250 GT Berlinetta Lusso, a car once driven by the late, great American actor.

Zauner recalls that while he was talking to colleagues announcing the special editions, “we had already sold the cars”.

“It is a celebration, because I really love to [say that Ferrari is] not like a carmaker, but like a family. It’s like when you are celebrating the 70th [birthday] of your grandfather,” he says.

“It’s something that touches your heart. We sold the cars in seconds, which is something that I’m super-happy [about] for Ferrari, but we’re more than that. We are not [only] selling cars. We are giving emotions.

“We will be doing something amazing [in the UAE]. In Abu Dhabi, we will launch something very interesting, and then for the Dubai motor show, we will have a special event.”

In two years, Ferrari will also reach a significant milestone in the region.

“In 2019, we will celebrate the 25th anniversary of Ferrari in the Gulf,” Zauner says. “We will do again another surprise.

“If you look at the history, Ferrari was I think the only brand that invested in the Middle East not just to push volumes or to sell a pink car or a striped car. Our mission [is] to give a dream; to say you are the owner of a Ferrari. This is the big difference. The others, for me, just try to oversell or put out strange colours. If Ferrari is selling a car, it’s selling first a Ferrari. Second, substance.”

Customer discretion dictates that Zauner won’t divulge the name of the owner of the first Ferrari in the UAE – although his smile seems to suggest he knows very well – saying only: “If you ask me: ‘Giulio, do you know some clients who bought a Ferrari?’, I say: ‘No’.”

With predictions that car dealers in the UAE expect slower sales during the coming year because of the economic slowdown, job cuts and a glut of unsold vehicles, Ferrari is formulating an approach. “Myself, my company and all my organisation are thinking about the future,” Zauner says.

“That means innovation. Companies speak all the time about the past; it’s something I think is not really correct. Innovation means to capitalise on the history, but to give for the future.

“With LaFerrari, we started to apply the hybrid reality and Ferrari’s DNA. For sure, we will do the next chapter of innovation, but respecting our DNA. Ferrari was famous because we didn’t used to launch many new models. Now we are totally on the opposite page: you will see innovation and new models.”

Befitting of Ferrari and its history, Zauner is unmistakably Italian, peppering conversation in English with his native-tongue expression “allora” (which roughly translates as “so”, “then” or “therefore”).

And he can’t resist a sly dig at one compatriot company when asked if Ferrari will steadfastly continue to refuse to join the SUV race, unlike many luxury rivals.

“In an arrogant, very cheeky way, we are Ferrari. Finish,” he says. “I know that Lamborghini used to do tractors. We are Ferrari. We do what is for us the top level of what we are: simply to be Ferrari.”

And he applies a similar logic when pushed on the most-significant moment in Ferrari’s history.

“In the 70 years, I think that the top [moment] was 1947 once [Enzo] Ferrari decides to just be Ferrari. To be himself. And we’re still here, speaking about him. Magic.”

aworkman@thenational.ae​

Winners

Ballon d’Or (Men’s)
Ousmane Dembélé (Paris Saint-Germain / France)

Ballon d’Or Féminin (Women’s)
Aitana Bonmatí (Barcelona / Spain)

Kopa Trophy (Best player under 21 – Men’s)
Lamine Yamal (Barcelona / Spain)

Best Young Women’s Player
Vicky López (Barcelona / Spain)

Yashin Trophy (Best Goalkeeper – Men’s)
Gianluigi Donnarumma (Paris Saint-Germain and Manchester City / Italy)

Best Women’s Goalkeeper
Hannah Hampton (England / Aston Villa and Chelsea)

Men’s Coach of the Year
Luis Enrique (Paris Saint-Germain)

Women’s Coach of the Year
Sarina Wiegman (England)

Real estate tokenisation project

Dubai launched the pilot phase of its real estate tokenisation project last month.

The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.

Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.

The%20US%20Congress%20explained
%3Cp%3E-%20Congress%20is%20one%20of%20three%20branches%20of%20the%20US%20government%2C%20and%20the%20one%20that%20creates%20the%20nation's%20federal%20laws%3C%2Fp%3E%0A%3Cp%3E-%20Congress%20is%20divided%20into%20two%20chambers%3A%20The%20House%20of%20Representatives%20and%20the%20Senate%3C%2Fp%3E%0A%3Cp%3E-%C2%A0The%20House%20is%20made%20up%20of%20435%20members%20based%20on%20a%20state's%20population.%20House%20members%20are%20up%20for%20election%20every%20two%20years%3C%2Fp%3E%0A%3Cp%3E-%20A%20bill%20must%20be%20approved%20by%20both%20the%20House%20and%20Senate%20before%20it%20goes%20to%20the%20president's%20desk%20for%20signature%3C%2Fp%3E%0A%3Cp%3E-%20A%20political%20party%20needs%20218%20seats%20to%20be%20in%20control%20of%20the%20House%20of%20Representatives%3C%2Fp%3E%0A%3Cp%3E-%20The%20Senate%20is%20comprised%20of%20100%20members%2C%20with%20each%20state%20receiving%20two%20senators.%20Senate%20members%20serve%20six-year%20terms%3C%2Fp%3E%0A%3Cp%3E-%20A%20political%20party%20needs%2051%20seats%20to%20control%20the%20Senate.%20In%20the%20case%20of%20a%2050-50%20tie%2C%20the%20party%20of%20the%20president%20controls%20the%20Senate%3C%2Fp%3E%0A
Farasan Boat: 128km Away from Anchorage

Director: Mowaffaq Alobaid 

Stars: Abdulaziz Almadhi, Mohammed Al Akkasi, Ali Al Suhaibani

Rating: 4/5

Director: Laxman Utekar

Cast: Vicky Kaushal, Akshaye Khanna, Diana Penty, Vineet Kumar Singh, Rashmika Mandanna

Rating: 1/5

57%20Seconds
%3Cp%3E%3Cstrong%3EDirector%3A%3C%2Fstrong%3E%20Rusty%20Cundieff%0D%3Cbr%3E%3Cstrong%3EStars%3A%20%3C%2Fstrong%3EJosh%20Hutcherson%2C%20Morgan%20Freeman%2C%20Greg%20Germann%2C%20Lovie%20Simone%0D%3Cbr%3E%3Cstrong%3ERating%3A%20%3C%2Fstrong%3E2%2F5%0D%3Cbr%3E%0D%3Cbr%3E%3C%2Fp%3E%0A
Our legal advisor

Ahmad El Sayed is Senior Associate at Charles Russell Speechlys, a law firm headquartered in London with offices in the UK, Europe, the Middle East and Hong Kong.

Experience: Commercial litigator who has assisted clients with overseas judgments before UAE courts. His specialties are cases related to banking, real estate, shareholder disputes, company liquidations and criminal matters as well as employment related litigation. 

Education: Sagesse University, Beirut, Lebanon, in 2005.

Various Artists 
Habibi Funk: An Eclectic Selection Of Music From The Arab World (Habibi Funk)
​​​​​​​

Gulf Under 19s final

Dubai College A 50-12 Dubai College B

European arms

Known EU weapons transfers to Ukraine since the war began: Germany 1,000 anti-tank weapons and 500 Stinger surface-to-air missiles. Luxembourg 100 NLAW anti-tank weapons, jeeps and 15 military tents as well as air transport capacity. Belgium 2,000 machine guns, 3,800 tons of fuel. Netherlands 200 Stinger missiles. Poland 100 mortars, 8 drones, Javelin anti-tank weapons, Grot assault rifles, munitions. Slovakia 12,000 pieces of artillery ammunition, 10 million litres of fuel, 2.4 million litres of aviation fuel and 2 Bozena de-mining systems. Estonia Javelin anti-tank weapons.  Latvia Stinger surface to air missiles. Czech Republic machine guns, assault rifles, other light weapons and ammunition worth $8.57 million.

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

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