One year after its opening, the Burj Khalifa has established itself as one of Dubai's biggest tourist attractions and helped surrounding hotels boost business by up to 35 per cent from 2009.
On New Year's Eve, thousands of revellers gathered at the world's tallest building, which receives an average of 4,000 visitors a day to its viewing deck, to watch a fireworks display broadcast around the globe.
"I would compare it to some of the leading icons that cities are using all over the world," said Ian Michael, a professor of marketing at Zayed University in Dubai.
"I see it as probably one of the first and lasting icons Dubai has created to attract tourists. It's a magnet for tourism. It's a must-see now for everyone who comes to Dubai.
"If you look at cities like Sydney and New York, the Statue of Liberty, the Sydney Opera House, and the Golden Gate Bridge in San Francisco have become icons. Up until the Burj Khalifa, there wasn't really a big icon that [Dubai] had claim to.
"I think a lot of the past years it was the Burj Al Arab … but I'm not sure that stood out as much as the Burj Khalifa"
Abdo Kayali, a director of sales and marketing at the Qamardeen and Al Manzil hotels in Dubai's Downtown area, says that with Dubai Mall, the city's fountains and the Burj Khalifa all in place, the area's popularity with tourists is growing tremendously.
"Hotels around the area of Downtown Dubai are trying to benefit the maximum because of their proximity to the Burj Khalifa," he said.
"If you go to Paris, you must go to the Eiffel Tower, and if you come to Dubai, you have to come to the Burj Khalifa."
Mr Kayali said all the hotels in the Downtown area were full for New Year's Eve, with the location having positioned itself as a gathering point for celebrations.
The filming of some scenes of the latest Mission: Impossible film, starring Tom Cruise, at the Burj Khalifa, can only increase the building's cachet.
"I see a tremendous opportunity coming soon with the Mission: Impossible movie," said Mr Kayali. "I see increased demand for the Downtown area after the movie is launched."
Al Murooj Rotana hotel, near the Downtown area, is also benefiting.
"We do have particular guests asking for a Burj Khalifa view," said Anke Glaessing, the resident manager at Al Murooj.
"You have people coming saying 'I want to stay opposite the highest tower in the world.' It is definitely a selling factor for the Al Murooj."
Ms Glaessing said the hotel had been running an almost full house over the recent holiday periods including National Day and Christmas.
Vipen Sethi, the chief executive of Landmark Group, whose restaurants - Carluccio's and Mango Tree - overlook the fountain area by the Burj Khalifa, said there had been an increase in traffic and visitors. He could not say exactly how much that increase was but said activity was "really picking up".
"[Burj Khalifa] is getting to be a popular destination. It's packed over the weekend," Mr Sethi said. "There are a lot of people there shopping, walking around, the food courts are busy and they have a lot of nice restaurants. The whole Burj Khalifa area has been a feather in the cap of Dubai. It has come up very nicely."
Dr Michael said he expected the building would feature in numerous advertising campaigns over the next few years. "I think a lot of marketing Dubai will be doing in the future will be around the Burj Khalifa, similar to what Sydney would do. You probably cannot market the brand Sydney without the opera house."
* additional reporting by Armina Ligaya
[ rbundhun@thenational.ae ]
TWISTERS
Director:+Lee+Isaac+Chung
Starring:+Glen+Powell,+Daisy+Edgar-Jones,+Anthony+Ramos
Rating:+2.5/5
COMPANY PROFILE
Company name: Clara
Started: 2019
Founders: Patrick Rogers, Lee McMahon, Arthur Guest, Ahmed Arif
Based: Dubai
Industry: LegalTech
Funding size: $4 million of seed financing
Investors: Wamda Capital, Shorooq Partners, Techstars, 500 Global, OTF, Venture Souq, Knuru Capital, Plug and Play and The LegalTech Fund
The biog
Name: Abeer Al Shahi
Emirate: Sharjah – Khor Fakkan
Education: Master’s degree in special education, preparing for a PhD in philosophy.
Favourite activities: Bungee jumping
Favourite quote: “My people and I will not settle for anything less than first place” – Sheikh Mohammed bin Rashid.
EMIRATES'S REVISED A350 DEPLOYMENT SCHEDULE
Edinburgh: November 4 (unchanged)
Bahrain: November 15 (from September 15); second daily service from January 1
Kuwait: November 15 (from September 16)
Mumbai: January 1 (from October 27)
Ahmedabad: January 1 (from October 27)
Colombo: January 2 (from January 1)
Muscat: March 1 (from December 1)
Lyon: March 1 (from December 1)
Bologna: March 1 (from December 1)
Source: Emirates
Most polluted cities in the Middle East
1. Baghdad, Iraq
2. Manama, Bahrain
3. Dhahran, Saudi Arabia
4. Kuwait City, Kuwait
5. Ras Al Khaimah, UAE
6. Ash Shihaniyah, Qatar
7. Abu Dhabi, UAE
8. Cairo, Egypt
9. Riyadh, Saudi Arabia
10. Dubai, UAE
Source: 2022 World Air Quality Report
MOST POLLUTED COUNTRIES IN THE WORLD
1. Chad
2. Iraq
3. Pakistan
4. Bahrain
5. Bangladesh
6. Burkina Faso
7. Kuwait
8. India
9. Egypt
10. Tajikistan
Source: 2022 World Air Quality Report
RESULT
Arsenal 1 Chelsea 2
Arsenal: Aubameyang (13')
Chelsea: Jorginho (83'), Abraham (87')
England XI for second Test
Rory Burns, Keaton Jennings, Ben Stokes, Joe Root (c), Jos Buttler, Moeen Ali, Ben Foakes (wk), Sam Curran, Adil Rashid, Jack Leach, James Anderson
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.”
Confirmed bouts (more to be added)
Cory Sandhagen v Umar Nurmagomedov
Nick Diaz v Vicente Luque
Michael Chiesa v Tony Ferguson
Deiveson Figueiredo v Marlon Vera
Mackenzie Dern v Loopy Godinez
Tickets for the August 3 Fight Night, held in partnership with the Department of Culture and Tourism Abu Dhabi, went on sale earlier this month, through www.etihadarena.ae and www.ticketmaster.ae.
Zimbabwe v UAE, ODI series
All matches at the Harare Sports Club:
1st ODI, Wednesday, April 10
2nd ODI, Friday, April 12
3rd ODI, Sunday, April 14
4th ODI, Tuesday, April 16
UAE squad: Mohammed Naveed (captain), Rohan Mustafa, Ashfaq Ahmed, Shaiman Anwar, Mohammed Usman, CP Rizwan, Chirag Suri, Mohammed Boota, Ghulam Shabber, Sultan Ahmed, Imran Haider, Amir Hayat, Zahoor Khan, Qadeer Ahmed
Our family matters legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
Some of Darwish's last words
"They see their tomorrows slipping out of their reach. And though it seems to them that everything outside this reality is heaven, yet they do not want to go to that heaven. They stay, because they are afflicted with hope." - Mahmoud Darwish, to attendees of the Palestine Festival of Literature, 2008
His life in brief: Born in a village near Galilee, he lived in exile for most of his life and started writing poetry after high school. He was arrested several times by Israel for what were deemed to be inciteful poems. Most of his work focused on the love and yearning for his homeland, and he was regarded the Palestinian poet of resistance. Over the course of his life, he published more than 30 poetry collections and books of prose, with his work translated into more than 20 languages. Many of his poems were set to music by Arab composers, most significantly Marcel Khalife. Darwish died on August 9, 2008 after undergoing heart surgery in the United States. He was later buried in Ramallah where a shrine was erected in his honour.
Dubai Women's Tour teams
Agolico BMC
Andy Schleck Cycles-Immo Losch
Aromitalia Basso Bikes Vaiano
Cogeas Mettler Look
Doltcini-Van Eyck Sport
Hitec Products – Birk Sport
Kazakhstan National Team
Kuwait Cycling Team
Macogep Tornatech Girondins de Bordeaux
Minsk Cycling Club
Pannonia Regional Team (Fehérvár)
Team Auvergne-Rhône-Alpes
Team Ciclotel
UAE Women’s Team
Under 23 Kazakhstan Team
Wheel Divas Cycling Team
COMPANY PROFILE
Name: Xpanceo
Started: 2018
Founders: Roman Axelrod, Valentyn Volkov
Based: Dubai, UAE
Industry: Smart contact lenses, augmented/virtual reality
Funding: $40 million
Investor: Opportunity Venture (Asia)
Moving Out 2
Developer: SMG Studio
Publisher: Team17
Consoles: Nintendo Switch, PlayStation 4&5, PC and Xbox One
Rating: 4/5
BOSH!'s pantry essentials
Nutritional yeast
This is Firth's pick and an ingredient he says, "gives you an instant cheesy flavour". He advises making your own cream cheese with it or simply using it to whip up a mac and cheese or wholesome lasagne. It's available in organic and specialist grocery stores across the UAE.
Seeds
"We've got a big jar of mixed seeds in our kitchen," Theasby explains. "That's what you use to make a bolognese or pie or salad: just grab a handful of seeds and sprinkle them over the top. It's a really good way to make sure you're getting your omegas."
Umami flavours
"I could say soya sauce, but I'll say all umami-makers and have them in the same batch," says Firth. He suggests having items such as Marmite, balsamic vinegar and other general, dark, umami-tasting products in your cupboard "to make your bolognese a little bit more 'umptious'".
Onions and garlic
"If you've got them, you can cook basically anything from that base," says Theasby. "These ingredients are so prevalent in every world cuisine and if you've got them in your cupboard, then you know you've got the foundation of a really nice meal."
Your grain of choice
Whether rice, quinoa, pasta or buckwheat, Firth advises always having a stock of your favourite grains in the cupboard. "That you, you have an instant meal and all you have to do is just chuck a bit of veg in."
Our legal consultants
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
THE SPECS
Engine: 3.9-litre twin-turbo V8
Transmission: seven-speed dual clutch
Power: 710bhp
Torque: 770Nm
Speed: 0-100km/h 2.9 seconds
Top Speed: 340km/h
Price: Dh1,000,885
On sale: now
The Roundup : No Way Out
Director: Lee Sang-yong
Stars: Don Lee, Lee Jun-hyuk, Munetaka Aoki
Rating: 3/5
