Kitesurfing is considered an extreme sport. Mick Tsikas / Reuters
Kitesurfing is considered an extreme sport. Mick Tsikas / Reuters
Kitesurfing is considered an extreme sport. Mick Tsikas / Reuters
Kitesurfing is considered an extreme sport. Mick Tsikas / Reuters

Eventually, kitesurfing can be a breeze


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The problem with learning a new skill or sport is the time and effort involved.

Q&A:Never mind the cost, the thrill is enough to blow you away

What is kitesurfing? Kitesurfing, or kiteboarding, is an extreme sport. Enthusiasts ride a board through the water while being pulled by a giant kite. Riders wear a harness that is attached to the kite, which varies in size depending on the strength of the wind..

Is kitesurfing popular in the UAE? Yes, there are now a number of kitesurfers that frequent beaches in Abu Dhabi and Dubai. There are a growing number of tutors with websites offering instruction at a cost of about Dh300 (Dh$81.70) per hour.

How many teaching hours do you need to learn to kitesurf? The number of hours depends on the ability (and luck) of the student, but most people have at least eight hours of tuition before going solo.

If we're all honest, we usually can't be bothered to keep plugging away at something until we finally master it. I've picked up the guitar a number of times in the vain hope that this time, I'll become the next Jimi Hendrix.

But I'm not even close to being a guy who can entertain teenage scouts around a campfire. That said, I did learn one new skill recently. I learnt to kitesurf. And I did so by shelling out a small fortune on an intensive course at a deserted lagoon in Sri Lanka.

This is the only way to learn a new skill - throw money at it and turn the whole experience into a holiday in paradise.

If you want the sheer thrill of the wind in your face, the sun on your back and the feeling of flying through the water - and you want it quick - then this is the way to spend your money.

You can learn to kitesurf in five days for about Dh3,500 (US$953) at the Sri Lanka Kite School (SLKS) on the island's west coast.

This includes more than 12 hours of lessons, kit hire, food and accommodation in the school's charming open-ended bungalows that overlook the Indian Ocean.

By the end of the five days, you'll be surfing upwind, learning to turn the board and might even be ready to start jumping.

The school's four instructors speak a number of languages, but only from countries in Europe.

All nationalities are sure to be welcomed though, as the whole atmosphere of the school is relaxed and there's plenty of time to learn. It is the type of place where last names are left at the airport.

Everyone is in the same boat, so it is easy to pick up kitesurfing.

SLKS is run and owned by a friendly Australian bear-of-a-man called Mike and his Sri Lankan partner Fairooz.

Top 5: Kitesurfing locations worldwide.

1 Cumbuco,Brazil.

2 Bulabog Beach,Boracay,Philippines.

3 Zaafarana,Egypt.

4 Savannes Bay,St Lucia.

5 TKeros Beach,Greece.

www.kitesurfbeaches.com

Each night, surfers sit around the communal table and eat fresh seafood or other Sri Lanka delicacies and then the campfire is lit.

If you're lucky, someone will even bring out a guitar to prove to everyone else that they made the right decision by checking in.

The Quote: "I am always ready to learn although I do not always like being taught." Sir Winston Churchill, the prime minister of Britain during the Second World War

Jebel Ali Dragons 26 Bahrain 23

Dragons
Tries: Hayes, Richards, Cooper
Cons: Love
Pens: Love 3

Bahrain
Tries: Kenny, Crombie, Tantoh
Cons: Phillips
Pens: Phillips 2

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

Date started: December 24, 2018

Founders: Omer Gurel, chief executive and co-founder and Edebali Sener, co-founder and chief technology officer

Based: Dubai Media City

Number of employees: 42 (34 in Dubai and a tech team of eight in Ankara, Turkey)

Sector: ConsumerTech and FinTech

Cashflow: Almost $1 million a year

Funding: Series A funding of $2.5m with Series B plans for May 2020

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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