Fans cosplay as Harry Potter characters Professor Severus Snape and Hagrid at the Harry Potter and the Cursed Child book launch at the Mall of the Emirates. Victor Besa for The National
Fans cosplay as Harry Potter characters Professor Severus Snape and Hagrid at the Harry Potter and the Cursed Child book launch at the Mall of the Emirates. Victor Besa for The National

Harry Potter’s newest magic catches Dubai by storm



“Water – with magic,” yells a man with a thick Arabic accent.

Tiny cups of water are arranged near an assortment of coloured potions with labels reading “black widow”, “dragon blood” and “skele-grow”.

Passers-by help themselves to the resulting concoction – which appears to be a glorified orange juice. I grab two plastic cups of water and gulp them down quickly. I’m parched and can feel the heat generated by the few hundred bodies crammed inside the Virgin Megastore at Dubai’s Mall of the Emirates.

Outside, a makeshift doorway has been created, with “Platform 9¾” scrawled over the entrance. Signs reading “No Muggles” are pasted on the storefront windows.

It is 2am and the store is open late for the much-anticipated launch of Harry Potter and the Cursed Child. The book features the script of the new two-part play of the same name, which had its official premiere in London's West End on Saturday. Tickets are sold out until May next year.

See more: Fans celebrate the Harry Potter and the Cursed Child book launch at the Mall of the Emirates — in pictures

Co-written by J K Rowling, it is a brand new story, set 19 years after the conclusion of the final novel in the series, Harry Potter and the Deathly Hallows. It features a grown-up Harry, struggling to balance his life as a father-of-three and an overworked employee of the Ministry of Magic.

Kalindi Bhatia, 26, arrived at 1.45am sharp, and is the first in line at the cash register, even though sales will not start until 3am, to coincide with the midnight launch in London. She works in marketing, and will have be up again at 8am, but says she could not miss the opportunity to get her hands on the new book immediately.

“It’ll probably just take me two days to read,” she says.

The Harry Potter movie theme music plays in the background, though it is hard to hear above the buzz of the excited crowd. Some of the young girls have lightning-shaped scars like Harry's on their foreheads, created with make-up pencils, while several young boys are wearing the wizard's signature round eyeglasses.

A woman wears a lavender wig, probably in honour of Nymphadora Tonks, a witch who died while defending Hogwarts.

A Professor Snape lookalike, has the character’s distinctive nose and severe black hairstyle, along with a touch of kohl around the eyes.

Black picnic tables are set up at the entrance of the store to mimic the Hogwarts Great Hall, while gold and black balloons are scattered along the floor. There’s even one foil balloon in the shape of the Snitch – the winged ball used in the wizarding sport of Quiddich.

Children await their turn for face and body painting. Ali Ahmed, 8, has Hedwig the owl drawn on his forearm, while his sister, Maryum, 14, asks for an illustration of the snitch. They are on holiday, visiting from Pakistan and are up way past their bedtime.

“I probably won’t sleep until 6am – it’s the latest I’ve slept in a while,” says Maryum.

Older Potter fans enter the store and walk straight to the back, lining up at the cashier’s desk. They’re not here for face paint or flavoured jelly beans – they just can’t wait to get their hands on the book.

Dubai-based fashion designer Mahsa Kazemi, 28, explains that she pre-ordered it in advance.

“I’m an ’80s kid, I had to come,” she says. “The true Harry Potter fans are the ones who read the books, not those who just watched the movies.”

By 2.30am, staff have to set up additional ribbon barriers so that the queue can accommodate more people.

As customers enter the store, their faces fall when they see the length of the queue.

“I told you we should have pre-ordered,” one teenaged boy says to his friend. Two lines form in front of the cash registers – one for those who pre-ordered the book, and one for those who did not.

When the clock is about to strike three, a woman dressed in Hogwarts robes bellows the 10-second countdown, and the crowd counts with her.

Then, the cash registers are finally open, the large boxes are ripped open, and the fans are finally able to get their hands on a prized copy of the hardcover book. The lines move quickly, and by 3.20am, the party is wrapping up.

As Maryum and Ali pay for their copy of the book, Ali reaches over the counter elatedly and grabs it from the cashier, before posing for a picture while holding a life-size photo frame reading “Have you seen this wizard?” Beaming, he still clutches the book in one hand.

The first Harry Potter novel was published in 1997, and the last, in 2007, before Ali was born. But the huge turnout – including bookworms who have been fans since day one and youngsters who discovered the boy wizard through the films – is a welcome reminder that magic can touch us at any age.

Harry Potter and the Cursed Child is now available at Virgin Megastores in the UAE

hlodi@thenational.ae

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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.”

COMPANY PROFILE
Name: HyperSpace
 
Started: 2020
 
Founders: Alexander Heller, Rama Allen and Desi Gonzalez
 
Based: Dubai, UAE
 
Sector: Entertainment 
 
Number of staff: 210 
 
Investment raised: $75 million from investors including Galaxy Interactive, Riyadh Season, Sega Ventures and Apis Venture Partners
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Biog

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Known as the UAE’s strongest man

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Dubai Bling season three

Cast: Loujain Adada, Zeina Khoury, Farhana Bodi, Ebraheem Al Samadi, Mona Kattan, and couples Safa & Fahad Siddiqui and DJ Bliss & Danya Mohammed 

Rating: 1/5

Emergency

Director: Kangana Ranaut

Stars: Kangana Ranaut, Anupam Kher, Shreyas Talpade, Milind Soman, Mahima Chaudhry 

Rating: 2/5

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Game Changer

Director: Shankar 

Stars: Ram Charan, Kiara Advani, Anjali, S J Suryah, Jayaram

Rating: 2/5

Key facilities
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