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Furnishing my flat with Dh10,000 is a squeeze



Like most couples, my wife and I have different spending priorities. She prefers to allocate her discretionary income to clothes, anything made by Apple and decorative pillows and baskets - lots and lots of pillows and baskets. I prefer to invest in things that are far more important in the grand scheme of things, namely golf and fantasy football. But Alison and I were in agreement that we should make an effort to furnish our one-bedroom apartment without spending more than the Dh10,000 allowance my company allotted. Seeing as how we arrived here without any furniture and a lone appliance - a Bose iPod dock - it was going to be a challenge.

The first purchase, naturally, was a bed. I found a flyer on the bulletin board at work for a king-size bed, used only in the guest room by a middle-aged British couple, John and Linda. Alison drove out to Mohammed Bin Zayed city and declared the bed - as well as John and Linda - to be apparently bedbug free. We also took two bedside tables, a dresser and a mirror off their hands in the bargain. Total price: Dh900.

For the bedding, we capitalised on the Abu Dhabi Shopping Festival to pick up linens and bedding at The One for 40 per cent off. Cost: Dh300. Next up was the kitchen. We shopped online and several second-hand shops for suitable stoves and refrigerators, but ultimately decided this was an area where we wanted to splurge. We rationalised our profligacy by thinking that if we have a pleasant, reliable kitchen, we are more likely to cook at home and save money by not eating out all the time.

We settled on a Sharp refrigerator from LuLu, with a free blender thrown in for good measure, and a Siemens stove from an independent retailer in the Tourist Club area that was offering it for Dh400 less than the same model at Carrefour. Then we picked up a butcher block work station at Ikea, and loaded up on sensible Swedish utensils, plates and glasses as well. Overall kitchen price-tag: Dh5,945.

Through Dubizzle, we found a leather sofa and love seat from a Maliyali couple in East Mousaffa. Alison bargained them down to Dh1,000. Another area in which we concluded we should not scrimp was the curtains. Our apartment features marvellous 12-foot- tall windows across the front of the building that will undoubtedly bake the interior mercilessly throughout the summer if not adequately covered. Alison selected the burnt-orange fabric from a local shop, which also agreed to sew in the blackout material and install them for a total of Dh1,600.

At this point, we were close to exhausting our budget. Fortunately my wife knows how to stretch a dirham when she puts her mind to it. While walking through the Tourist Club one day, she passed a pile of discarded 2-by-4s at a construction site. She found the foreman and told him she wanted to buy the wood. Understandably perplexed, he wanted to know why. I want to hire a local carpenter to build a dining room table, she said. The foreman replied that he had a friend who was a carpenter. He would talk with his friend and call Alison in a few days.

Sure enough, the foreman called less than a week later to report that the table was ready. He even sent one of his workers to deliver it. Alison asked how much she was to pay him, and he insisted that she should not pay anyone, not even the delivery man. "We are friends now," he said. The obvious upside: we scored a free dining room table. The downside: the carpenter seemed to be under the impression he was building a table for Shaquille O'Neal.

No worries. We paid another carpenter to shave off the legs, sand it down and apply a coat of linseed oil. Total cost: Dh250. By now, we had a place to sleep, a fully-stocked kitchen and a reasonably comfortable living area. We just needed some personal touches to make the space feel like a home. We framed a Mexican tapestry of a wedding scene that a friend gave us as a gift last year, and we put up pictures of our friends and family. But we still wanted at least a bit of local flavour to signify that we are not planted in just another anonymous outpost in the global village. We are in Abu Dhabi, and glad to be here.

We finally found just the right piece. At a used furniture shop in Muroor, Alison found a wicker coffee table and three mismatched chairs that gave the dining table the vintage look she was after. And propped in a corner was a slightly faded poster of Sheikh Zayed Bin Sultan Al Nayhan. He is wearing sunglasses, looking like a young Al Pacino, and his image was transposed over the relatively modest Abu Dhabi skyline of the 1980s.

"It's perfect," I told Alison. "We will have that the rest of our lives." Our total cost thus far: slightly more than Dh11,000. We didn't quite meet our goal, but we are proud of the results from our effort. breagan@thenational.ae

The biog

Hometown: Birchgrove, Sydney Australia
Age: 59
Favourite TV series: Outlander Netflix series
Favourite place in the UAE: Sheikh Zayed Grand Mosque / desert / Louvre Abu Dhabi
Favourite book: Father of our Nation: Collected Quotes of Sheikh Zayed bin Sultan Al Nahyan
Thing you will miss most about the UAE: My friends and family, Formula 1, having Friday's off, desert adventures, and Arabic culture and people
 

PRISCILLA
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Understand What Black Is

The Last Poets

(Studio Rockers)

COMPANY PROFILE

Company: Bidzi

● Started: 2024

● Founders: Akshay Dosaj and Asif Rashid

● Based: Dubai, UAE

● Industry: M&A

● Funding size: Bootstrapped

● No of employees: Nine

LIST OF INVITEES

Shergo Kurdi (am) 
Rayhan Thomas
Saud Al Sharee (am)
Min Woo Lee
Todd Clements
Matthew Jordan
AbdulRahman Al Mansour (am)
Matteo Manassero
Alfie Plant
Othman Al Mulla
Shaun Norris

MATCH INFO

Rugby World Cup (all times UAE)

Final: England v South Africa, Saturday, 1pm

Champions parade (UAE timings)

7pm Gates open

8pm Deansgate stage showing starts

9pm Parade starts at Manchester Cathedral

9.45pm Parade ends at Peter Street

10pm City players on stage

11pm event ends

Tips for job-seekers
  • Do not submit your application through the Easy Apply button on LinkedIn. Employers receive between 600 and 800 replies for each job advert on the platform. If you are the right fit for a job, connect to a relevant person in the company on LinkedIn and send them a direct message.
  • Make sure you are an exact fit for the job advertised. If you are an HR manager with five years’ experience in retail and the job requires a similar candidate with five years’ experience in consumer, you should apply. But if you have no experience in HR, do not apply for the job.

David Mackenzie, founder of recruitment agency Mackenzie Jones Middle East

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.”

A State of Passion

Directors: Carol Mansour and Muna Khalidi

Stars: Dr Ghassan Abu-Sittah

Rating: 4/5

Director: Paul Weitz
Stars: Kevin Hart
3/5 stars

 

 

Abu Dhabi card

5pm: Handicap (TB) Dh100,000 2,400m

5.30pm: Wathba Stallions Cup Handicap (PA) Dh 70,000 2,200m

6pm: Abu Dhabi Fillies Classic Prestige (PA) Dh110,000 1,400m

6.30pm: Abu Dhabi Colts Classic Prestige (PA) Dh110,000 1,400m

7pm: Handicap (PA) Dh85,000 1,600m

7.30pm: Maiden (PA) Dh80,000 1,600m

The National selections:

5pm: Valcartier

5.30pm: AF Taraha

6pm: Dhafra

6.30pm: Maqam

7pm: AF Mekhbat

7.30pm: Ezz Al Rawasi  

Zakat definitions

Zakat: an Arabic word meaning ‘to cleanse’ or ‘purification’.

Nisab: the minimum amount that a Muslim must have before being obliged to pay zakat. Traditionally, the nisab threshold was 87.48 grams of gold, or 612.36 grams of silver. The monetary value of the nisab therefore varies by current prices and currencies.

Zakat Al Mal: the ‘cleansing’ of wealth, as one of the five pillars of Islam; a spiritual duty for all Muslims meeting the ‘nisab’ wealth criteria in a lunar year, to pay 2.5 per cent of their wealth in alms to the deserving and needy.

Zakat Al Fitr: a donation to charity given during Ramadan, before Eid Al Fitr, in the form of food. Every adult Muslim who possesses food in excess of the needs of themselves and their family must pay two qadahs (an old measure just over 2 kilograms) of flour, wheat, barley or rice from each person in a household, as a minimum.

Hidden killer

Sepsis arises when the body tries to fight an infection but damages its own tissue and organs in the process.

The World Health Organisation estimates it affects about 30 million people each year and that about six million die.

Of those about three million are newborns and 1.2 are young children.

Patients with septic shock must often have limbs amputated if clots in their limbs prevent blood flow, causing the limbs to die.

Campaigners say the condition is often diagnosed far too late by medical professionals and that many patients wait too long to seek treatment, confusing the symptoms with flu. 

MATCH INFO

Uefa Champions League semi-final, first leg
Bayern Munich v Real Madrid

When: April 25, 10.45pm kick-off (UAE)
Where: Allianz Arena, Munich
Live: BeIN Sports HD
Second leg: May 1, Santiago Bernabeu, Madrid