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.
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Museum of the Future in numbers
- 78 metres is the height of the museum
- 30,000 square metres is its total area
- 17,000 square metres is the length of the stainless steel facade
- 14 kilometres is the length of LED lights used on the facade
- 1,024 individual pieces make up the exterior
- 7 floors in all, with one for administrative offices
- 2,400 diagonally intersecting steel members frame the torus shape
- 100 species of trees and plants dot the gardens
- Dh145 is the price of a ticket
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.”
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The specs
Engine: 2.0-litre turbo 4-cyl
Transmission: eight-speed auto
Power: 190bhp
Torque: 300Nm
Price: Dh169,900
On sale: now
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Formula Middle East Calendar (Formula Regional and Formula 4)
Round 1: January 17-19, Yas Marina Circuit – Abu Dhabi
Round 2: January 22-23, Yas Marina Circuit – Abu Dhabi
Round 3: February 7-9, Dubai Autodrome – Dubai
Round 4: February 14-16, Yas Marina Circuit – Abu Dhabi
Round 5: February 25-27, Jeddah Corniche Circuit – Saudi Arabia
Keane on …
Liverpool’s Uefa Champions League bid: “They’re great. With the attacking force they have, for me, they’re certainly one of the favourites. You look at the teams left in it - they’re capable of scoring against anybody at any given time. Defensively they’ve been good, so I don’t see any reason why they couldn’t go on and win it.”
Mohamed Salah’s debut campaign at Anfield: “Unbelievable. He’s been phenomenal. You can name the front three, but for him on a personal level, he’s been unreal. He’s been great to watch and hopefully he can continue now until the end of the season - which I’m sure he will, because he’s been in fine form. He’s been incredible this season.”
Zlatan Ibrahimovic’s instant impact at former club LA Galaxy: “Brilliant. It’s been a great start for him and for the club. They were crying out for another big name there. They were lacking that, for the prestige of LA Galaxy. And now they have one of the finest stars. I hope they can go win something this year.”
Dirham Stretcher tips for having a baby in the UAE
Selma Abdelhamid, the group's moderator, offers her guide to guide the cost of having a young family:
• Buy second hand stuff
They grow so fast. Don't get a second hand car seat though, unless you 100 per cent know it's not expired and hasn't been in an accident.
• Get a health card and vaccinate your child for free at government health centres
Ms Ma says she discovered this after spending thousands on vaccinations at private clinics.
• Join mum and baby coffee mornings provided by clinics, babysitting companies or nurseries.
Before joining baby classes ask for a free trial session. This way you will know if it's for you or not. You'll be surprised how great some classes are and how bad others are.
• Once baby is ready for solids, cook at home
Take the food with you in reusable pouches or jars. You'll save a fortune and you'll know exactly what you're feeding your child.
Types of bank fraud
1) Phishing
Fraudsters send an unsolicited email that appears to be from a financial institution or online retailer. The hoax email requests that you provide sensitive information, often by clicking on to a link leading to a fake website.
2) Smishing
The SMS equivalent of phishing. Fraudsters falsify the telephone number through “text spoofing,” so that it appears to be a genuine text from the bank.
3) Vishing
The telephone equivalent of phishing and smishing. Fraudsters may pose as bank staff, police or government officials. They may persuade the consumer to transfer money or divulge personal information.
4) SIM swap
Fraudsters duplicate the SIM of your mobile number without your knowledge or authorisation, allowing them to conduct financial transactions with your bank.
5) Identity theft
Someone illegally obtains your confidential information, through various ways, such as theft of your wallet, bank and utility bill statements, computer intrusion and social networks.
6) Prize scams
Fraudsters claiming to be authorised representatives from well-known organisations (such as Etisalat, du, Dubai Shopping Festival, Expo2020, Lulu Hypermarket etc) contact victims to tell them they have won a cash prize and request them to share confidential banking details to transfer the prize money.
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The specs: 2019 Cadillac XT4
Price, base: Dh145,000
Engine: 2.0-litre turbocharged in-line four-cylinder engine
Transmission: Nine-speed automatic
Power: 237hp @ 5,000rpm
Torque: 350Nm @ 1,500rpm
Fuel economy, combined: 8.7L / 100km
More on Quran memorisation:
Mohammed bin Zayed Majlis
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