Wolfram Schleuter,the founder and chief executive of iPilot. Jaime Puebla / The National
Wolfram Schleuter,the founder and chief executive of iPilot. Jaime Puebla / The National
Wolfram Schleuter,the founder and chief executive of iPilot. Jaime Puebla / The National
Wolfram Schleuter,the founder and chief executive of iPilot. Jaime Puebla / The National

Fly a 737 in Dubai Mall


  • English
  • Arabic

The German entrepreneur Wolfram Schleuter,the founder and chief executive of iPilot, is bringing a flight simulator to Dubai Mall where residents and tourists can take control of a Boeing 737-800 airliner from Tuesday. Here he talks about what could be the city's next tourist attraction.

How did you come up with this idea of iPilot?

The whole idea was born out of my passion for flying. I was once given a flight simulator gift voucher for an airline in London. It was very good but it had two problems.

It was difficult to book it because the airline is very busy, and it was very expensive - US$1,000 (Dh3,673) for an hour.

I wanted to make it accessible to the public and affordable. So, we started iPilot three years ago in London.

You have 10 simulators in Europe. What makes the UAE attractive as the next destination?

We actually had a flight simulator in Doha but had to close it after the fire [last May] in Villaggio shopping mall.

We are currently relocating there. Also, the Middle East is a strategic location for us. We know this because many of our visitors at the London flight simulator had asked us when do we open in Dubai, Abu Dhabi, Qatar, Kuwait and even Saudi.

How much does it cost to install a flight simulator in a mall?

It costs around €350,000 (Dh1.63m), including everything. We rent the space from the mall and operate it.

Do you want to just go on adding locations or do you want to add features to iPilot?

We want to add locations. We want to have three to four in Dubai and one to two in Abu Dhabi by 2014. We are also looking at the United States, Hong Kong, Singapore and Kuala Lumpur. In Europe we look at downtowns, busy airports or shopping centres. Here we want to open in the main malls and Dubai airport … In the Middle East we are also looking for a local investor to increase the expansion. Features-wise it is almost difficult to make it more realistic.

Even professional pilots find it a one-to-one replica of the cockpit. There are 600 buttons, which are all connected to the programmed routes, you can change the outside weather, we can put you in 24,000 airports in the world, and, for instance, if you are landing in Sydney airport you will have the exact scenario of Sydney. But we do want to add newer aircraft. We started with Boeing 737 here because it is a popular aircraft in the region. We want to bring Boeing 777, Jumbo Jet 747, Airbus 330 and 340, and in 2014 we want to bring the next generation Boeing 787 Dreamliner. We also have a program where we demonstrate to people with a fear of flying what is going on in the cockpit, and that it is a manageable situation.

How much will you charge?

It would cost Dh299 for a 15-minute flight experience, Dh499 for half an hour, and Dh899 an hour. The 60-minute fear of flying programme would also cost Dh899.

England ODI squad

Eoin Morgan (captain), Moeen Ali, Jonny Bairstow, Jake Ball, Sam Billings, Jos Buttler, Tom Curran, Alex Hales, Liam Plunkett, Adil Rashid, Joe Root, Jason Roy, Ben Stokes, David Willey, Chris Woakes, Mark Wood.

What to watch out for:

Algae, waste coffee grounds and orange peels will be used in the pavilion's walls and gangways

The hulls of three ships will be used for the roof

The hulls will painted to make the largest Italian tricolour in the country’s history

Several pillars more than 20 metres high will support the structure

Roughly 15 tonnes of steel will be used

The%20Beekeeper
%3Cp%3E%3Cstrong%3EDirector%3A%20%3C%2Fstrong%3EDavid%20Ayer%C2%A0%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStarring%3A%20%3C%2Fstrong%3EJason%20Statham%2C%20Josh%20Hutcherson%2C%20Emmy%20Raver-Lampman%2C%20Minnie%20Driver%2C%20Jeremy%20Irons%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%20%3C%2Fstrong%3E3%2F5%3C%2Fp%3E%0A
UAE currency: the story behind the money in your pockets

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.”

Key facilities
  • Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
  • Premier League-standard football pitch
  • 400m Olympic running track
  • NBA-spec basketball court with auditorium
  • 600-seat auditorium
  • Spaces for historical and cultural exploration
  • An elevated football field that doubles as a helipad
  • Specialist robotics and science laboratories
  • AR and VR-enabled learning centres
  • Disruption Lab and Research Centre for developing entrepreneurial skills
Three ways to get a gratitude glow

By committing to at least one of these daily, you can bring more gratitude into your life, says Ong.

  • During your morning skincare routine, name five things you are thankful for about yourself.
  • As you finish your skincare routine, look yourself in the eye and speak an affirmation, such as: “I am grateful for every part of me, including my ability to take care of my skin.”
  • In the evening, take some deep breaths, notice how your skin feels, and listen for what your skin is grateful for.
UK’s AI plan
  • AI ambassadors such as MIT economist Simon Johnson, Monzo cofounder Tom Blomfield and Google DeepMind’s Raia Hadsell
  • £10bn AI growth zone in South Wales to create 5,000 jobs
  • £100m of government support for startups building AI hardware products
  • £250m to train new AI models