Hussam Zammar is one of those enterprising entrepreneurs who has dabbled in everything — from making exhibition stands and running a paintball company to creating sanitisation gates during Covid-19.
Having landed in Dubai 16 years ago with $200 in his pocket, which he believed to be a “very big amount” as he arrived from his home country of Syria, Mr Zammar started work as a foreman at a construction company before setting up his first venture, an exhibition stands business.
By 2015, the company was reaping millions of dirhams in revenue and Mr Zammar had branched into other ventures with partners, including an electromechanical company and an entertainment entity related to a restaurant and nightclub.
However, in 2017, Mr Zammar realised he was not happy with what he was doing and sold his stakes in all the businesses, despite most of them doing well financially. In Eat, Pray, Love style, he made trips to India and the Vatican searching for answers. Returning to Dubai, he decided he wanted to start something which “has to be about sustainability”.
“[All I was sure of was that] it has to be eco-friendly … It has to serve the people and make their lives better,” he says.
But Covid-19 hit and, stuck at home, Mr Zammar ventured into designing sanitisation booths.
He received orders for 1,000 booths in Dubai, amid strong demand at the time.
After the pandemic, Mr Zammar decided to once again focus on his plan for a sustainable business venture. The idea for a project that would fit the bill came when he was “waiting at a red signal”, the entrepreneur says.
Observing the many delivery motorcycles around him, he decided to launch Terra, which roughly translates from Latin to ‘Mother Earth’.
The B2B micro-mobility start-up has developed what it describes as an energy-efficient electric motorbike, which can be customised to suit different sectors, including aggregators and restaurants as well as the public sector.
The start-up, which raised $1 million in its pre-seed funding round, was set up in the Dubai International Financial Centre in 2021.
“Our bike is done as a prototype and between January and March, the plan is to get it regulated and certified,” Mr Zammar says.
The company, which currently has 11 employees, is also planning to boost its hiring in the first quarter, with a focus on people who have experience in areas such as start-up finance as well mechanical and battery engineers.
“From March to June, we need to try our bike with many aggregators, chain restaurants and the government sector," he says.
“Then, from April, our bikes will be on the road,” he says, with plans to start with 100 bikes.
“Then after that, we are open for huge orders.”
The start-up says its motorbikes will enable companies to decrease their carbon footprint, through reduced emissions.
The bikes are also aimed at offering improved turnaround times, fewer running costs, driver-tracking and overall efficiency.
Terra’s electric motorbike fleet presents a solution to the rising use of petrol motorbikes by "changing one motorbike at a time", according to Mr Zammar.
The company has plans for two-wheelers and three-wheelers, although it is awaiting special permission for the latter, since the testing has to be done locally.
“Customisation” is what the customer wants, he says, adding that the company will be able to tailor the bikes to suit various needs — such as delivery of food and non-food items.
Terra also aims to offer a battery-swap and drive subscription model, with plans to set up stations across the UAE allowing drivers to book and switch bike batteries through the platform’s mobile application.
At present, parts for the bikes are being sourced from Taiwan, Turkey, Poland and India, with assembly taking place in China.
“Hopefully, in the near future, if we have a big order, we need to localise manufacturing. The government also offers a lot of support for manufacturers," Mr Zammar says.
The UAE is focusing heavily on local manufacturing as part of its economic diversification agenda and in 2021 announced its Operation 300bn strategy. The 10-year programme is aimed at increasing the industrial sector’s contribution to gross domestic product to Dh300 billion ($81.68 billion) by 2031, from Dh133 billion in 2021.
The country has also launched the Make It In The Emirates campaign, which encourages local and international investors to manufacture and export products from the UAE.
“We are in communication with the Ministry of Industry and Advanced Technology, but we cannot go now and make a big factory … we need to check the market. So, it's like a step by step process,” Mr Zammar says.
The micro-mobility market, which was hit hard during the pandemic, has picked up focus again amid the global push to move towards low-carbon solutions as governments worldwide embark on their net zero targets.
The global electric scooter and motorcycle market is expected to reach $28.9 billion by 2028, up from $7.5 billion at present, according to Mordor Intelligence.
The market’s growth is being driven by the rising need for sustainable transportation, increasing environmental concerns, favourable government initiatives, rising energy costs and competition among emerging energy-efficient technologies, the report said.
The UAE is among the world's top 10 countries as a market that is geared towards electric mobility, consultancy Arthur D Little said in a report in September.
The UAE electric vehicle market, which is currently in its early stages, is projected to grow at an annual rate of 30 per cent between 2022 and 2028, according to the global electric mobility readiness index 2022, compiled by Arthur D Little.
Passenger vehicles constitute about 95 per cent of the EV market in the UAE due to an increase in rental car services, it said. The Emirates ranks eighth on the index.
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By Cop28, which the UAE is set to host in November, Terra aims to be operational on a “big scale”, Mr Zammar says.
While the market for clean mobility solutions is growing, especially in the UAE and the rest of the Middle East, he stresses that he is not worried about competition.
"An entrepreneur has to understand that if he's thinking about an idea now, there are a thousand others thinking about the same idea at the same time. [For Terra] the good thing is that we are the first mover and we are the first in the Middle East [to develop this concept]," he says.
Mr Zammar is also open to partnering with other start-ups and entrepreneurs. "I believe that joining efforts will give us more; I'm open to any idea," he says.
At present, Terra does not have any immediate plans to raise further funding.
Looking ahead, the strategy for the future is to significantly expand beyond electric motorbike fleets.
The company says it wants to build an "electric ecosystem that will connect communities and empower electric mobility across the UAE".
It is also aiming to expand its presence across the Middle East and globally as part of its growth strategy.
The plan is for Terra to cover Egypt, Saudi Arabia, Turkey and, "hopefully, we will go to the West and also to the East and to Africa", Mr Zammar says.
"By 2026, you will see Terra worldwide."
Q&A with Hussam Zammar, founder and chief executive of Terra
Who is your role model?
I don’t have a specific role model. I take different things from different people. And my enemy is me, that’s because sometimes when you're doing your business, you feel like you are unstoppable, and your ego will grow. This is what will make you fall down. You have to stay humble and keep calm. So my role model, in a different way, is me. The better me.
If you could start all over again, what would you do differently?
I thought I was a traditional guy so [in the past], I didn’t like doing any Zoom meetings, I didn't like to write emails. I didn’t like technology. But I found out [about their advantages] later on by force during the coronavirus pandemic.
So if I had to go back, I wouldn't have to think that I am a traditional guy. I have to continue learning.
My code is ‘teachable, undefeatable’, which means that if you are able to teach yourself to learn, you will not be defeated.
If you could start another company, what would it be?
My dream is to start a school or university for girls in Syria.
What is your advice to other entrepreneurs?
Persistence, adaptation and the third one is don't wait for even an hour — do it now.
Lexus LX700h specs
Engine: 3.4-litre twin-turbo V6 plus supplementary electric motor
Power: 464hp at 5,200rpm
Torque: 790Nm from 2,000-3,600rpm
Transmission: 10-speed auto
Fuel consumption: 11.7L/100km
On sale: Now
Price: From Dh590,000
Who's who in Yemen conflict
Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government
Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council
Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south
Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory
Company%20profile
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A Prayer Before Dawn
Director: Jean-Stephane Sauvaire
Starring: Joe Cole, Somluck Kamsing, Panya Yimmumphai
Three stars
2025 Fifa Club World Cup groups
Group A: Palmeiras, Porto, Al Ahly, Inter Miami.
Group B: Paris Saint-Germain, Atletico Madrid, Botafogo, Seattle.
Group C: Bayern Munich, Auckland City, Boca Juniors, Benfica.
Group D: Flamengo, ES Tunis, Chelsea, Leon.
Group E: River Plate, Urawa, Monterrey, Inter Milan.
Group F: Fluminense, Borussia Dortmund, Ulsan, Mamelodi Sundowns.
Group G: Manchester City, Wydad, Al Ain, Juventus.
Group H: Real Madrid, Al Hilal, Pachuca, Salzburg.
If you go...
Fly from Dubai or Abu Dhabi to Chiang Mai in Thailand, via Bangkok, before taking a five-hour bus ride across the Laos border to Huay Xai. The land border crossing at Huay Xai is a well-trodden route, meaning entry is swift, though travellers should be aware of visa requirements for both countries.
Flights from Dubai start at Dh4,000 return with Emirates, while Etihad flights from Abu Dhabi start at Dh2,000. Local buses can be booked in Chiang Mai from around Dh50
RedCrow Intelligence Company Profile
Started: 2016
Founders: Hussein Nasser Eddin, Laila Akel, Tayeb Akel
Based: Ramallah, Palestine
Sector: Technology, Security
# of staff: 13
Investment: $745,000
Investors: Palestine’s Ibtikar Fund, Abu Dhabi’s Gothams and angel investors
The specs
Engine: 4.0-litre V8 twin-turbocharged and three electric motors
Power: Combined output 920hp
Torque: 730Nm at 4,000-7,000rpm
Transmission: 8-speed dual-clutch automatic
Fuel consumption: 11.2L/100km
On sale: Now, deliveries expected later in 2025
Price: expected to start at Dh1,432,000
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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.”
More from Rashmee Roshan Lall
Our legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants
Info
What: 11th edition of the Mubadala World Tennis Championship
When: December 27-29, 2018
Confirmed: men: Novak Djokovic, Rafael Nadal, Kevin Anderson, Dominic Thiem, Hyeon Chung, Karen Khachanov; women: Venus Williams
Tickets: www.ticketmaster.ae, Virgin megastores or call 800 86 823
TEACHERS' PAY - WHAT YOU NEED TO KNOW
Pay varies significantly depending on the school, its rating and the curriculum. Here's a rough guide as of January 2021:
- top end schools tend to pay Dh16,000-17,000 a month - plus a monthly housing allowance of up to Dh6,000. These tend to be British curriculum schools rated 'outstanding' or 'very good', followed by American schools
- average salary across curriculums and skill levels is about Dh10,000, recruiters say
- it is becoming more common for schools to provide accommodation, sometimes in an apartment block with other teachers, rather than hand teachers a cash housing allowance
- some strong performing schools have cut back on salaries since the pandemic began, sometimes offering Dh16,000 including the housing allowance, which reflects the slump in rental costs, and sheer demand for jobs
- maths and science teachers are most in demand and some schools will pay up to Dh3,000 more than other teachers in recognition of their technical skills
- at the other end of the market, teachers in some Indian schools, where fees are lower and competition among applicants is intense, can be paid as low as Dh3,000 per month
- in Indian schools, it has also become common for teachers to share residential accommodation, living in a block with colleagues
How to protect yourself when air quality drops
Install an air filter in your home.
Close your windows and turn on the AC.
Shower or bath after being outside.
Wear a face mask.
Stay indoors when conditions are particularly poor.
If driving, turn your engine off when stationary.
Tips for newlyweds to better manage finances
All couples are unique and have to create a financial blueprint that is most suitable for their relationship, says Vijay Valecha, chief investment officer at Century Financial. He offers his top five tips for couples to better manage their finances.
Discuss your assets and debts: When married, it’s important to understand each other’s personal financial situation. It’s necessary to know upfront what each party brings to the table, as debts and assets affect spending habits and joint loan qualifications. Discussing all aspects of their finances as a couple prevents anyone from being blindsided later.
Decide on the financial/saving goals: Spouses should independently list their top goals and share their lists with one another to shape a joint plan. Writing down clear goals will help them determine how much to save each month, how much to put aside for short-term goals, and how they will reach their long-term financial goals.
Set a budget: A budget can keep the couple be mindful of their income and expenses. With a monthly budget, couples will know exactly how much they can spend in a category each month, how much they have to work with and what spending areas need to be evaluated.
Decide who manages what: When it comes to handling finances, it’s a good idea to decide who manages what. For example, one person might take on the day-to-day bills, while the other tackles long-term investments and retirement plans.
Money date nights: Talking about money should be a healthy, ongoing conversation and couples should not wait for something to go wrong. They should set time aside every month to talk about future financial decisions and see the progress they’ve made together towards accomplishing their goals.
EXPATS
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