The waterways have been a drawcard for tourists for 10 years at the Mina A’Salam hotel, Madinat Jumeirah in Dubai. Courtesy Jumeirah
The waterways have been a drawcard for tourists for 10 years at the Mina A’Salam hotel, Madinat Jumeirah in Dubai. Courtesy Jumeirah

Pioneering Madinat Jumeirah turns a grand old 10



DUBAI // For 10 years, Madinat Jumeirah’s picturesque waterways, narrow corridors, souqs and wind towers have been a drawcard for tourists – and a haven for stars such as Tom Cruise and Roger Federer.

On opening it was one of only a handful of resorts; a pioneer of the booming Dubai tourism industry.

With two hotels, dozens of restaurants, shops, a theatre and a private beach, it is the biggest in an emirate that deals in big, and one of its most visited.

Also celebrating a 10th anniversary is abra captain Nambu Rajan, who has been ferrying guests around Madinat Jumeirah’s 3 kilometres of waterways since the resort opened.

The Indian boatman’s passengers in that time include Cruise and Bollywood star Shah Rukh Khan.

“I am so lucky to meet these people,” said Mr Rajan, 42. “There have been many sportsmen too. Federer, [Fernando] Torres, Wayne Rooney – he was very different in person and very humble. The celebrities feel they are very safe here and they have their privacy in the resort.”

Covering 32 hectares of land and with 2km of beach, the resort is operated by the Jumeirah Group and attracts about 3,000 hotel guests during the tourist season.

There are also the thousands who come to wander around its wooden framed streets.

About 3,500 serving staff work at the Madinat.

Guests can stay at the five-star Al Qasr and Mina A’Salam hotels, and at the Arabian-style Dar Al Masyaf villas.

Madinat Jumeirah is also home to a turtle rehabilitation centre and a sanctuary, where animals are cared for before being released back into the wild.

Andy Cuthbert, general manager of Madinat Jumeirah conferences and events, and Jumeirah Hospitality, said the resort had helped to put Dubai on the international tourist map.

“The Burj Al Arab had brought the high-profile media focus, but the Madinat supported the growth of the tourism sector to reach out not only to the luxury sector, but beyond that.

“Things were starting to open and we began to see a boom in the beachfront so we were lucky to have such a beautiful location with views across to the Burj, giving it a unique feel.

“The design was really representative of Dubai – the architecture, the names, they were all connected to Dubai and the UAE. The resort just complemented what the city was doing for tourism but in a one-stop destination.”

The Madinat now hosts major events, from film festivals to fashion and art events, establishing itself as a centre for culture in the emirate.

“It goes hand in glove with tourism,” said Mr Cuthbert.

About half of the guests at the resort return at least once. Many, such as Nouf Al Noiser, come back year after year.

Ms Al Noiser first visited Dubai in 2003, booking a room at the luxurious Burj Al Arab. Since then the interiors and jewellery designer has been staying at the Madinat.

“The pace of development is surreal,” she said. “It is now more modern and futuristic than 10 years ago.”

Staff have also witnessed rapid change, not only at the resort but in the city as a whole.

Danilo Carino, 41, started work as a team leader for the abra drivers in 2004.

“There’s been so much change since I came here,” Mr Carino said. “At the time the Trade Centre was the biggest building along the whole of Sheikh Zayed Road.

“There was hardly anything else here. The population grew a lot since then.”

He remembers taking Orlando Bloom to the souq, where the Hollywood star was mobbed by fans.

“The next day, he shaved his head so nobody recognised him,” Mr Carino recalls with a smile.

mswan@thenational.ae

A State of Passion

Directors: Carol Mansour and Muna Khalidi

Stars: Dr Ghassan Abu-Sittah

Rating: 4/5

The specs: 2017 Dodge Viper SRT

Price, base / as tested Dh460,000

Engine 8.4L V10

Transmission Six-speed manual

Power 645hp @ 6,200rpm

Torque 813Nm @ 5,000rpm

Fuel economy, combined 16.8L / 100km

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COMPANY PROFILE
Name: Kumulus Water
 
Started: 2021
 
Founders: Iheb Triki and Mohamed Ali Abid
 
Based: Tunisia 
 
Sector: Water technology 
 
Number of staff: 22 
 
Investment raised: $4 million 

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.”

LIVING IN...

This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.

The biog

Favourite food: Tabbouleh, greek salad and sushi

Favourite TV show: That 70s Show

Favourite animal: Ferrets, they are smart, sensitive, playful and loving

Favourite holiday destination: Seychelles, my resolution for 2020 is to visit as many spiritual retreats and animal shelters across the world as I can

Name of first pet: Eddy, a Persian cat that showed up at our home

Favourite dog breed: I love them all - if I had to pick Yorkshire terrier for small dogs and St Bernard's for big

MATCH INFO

World Cup qualifier

Thailand 2 (Dangda 26', Panya 51')

UAE 1 (Mabkhout 45 2')

Zidane's managerial achievements

La Liga: 2016/17
Spanish Super Cup: 2017
Uefa Champions League: 2015/16, 2016/17, 2017/18
Uefa Super Cup: 2016, 2017
Fifa Club World Cup: 2016, 2017

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THE BIO

Born: Mukalla, Yemen, 1979

Education: UAE University, Al Ain

Family: Married with two daughters: Asayel, 7, and Sara, 6

Favourite piece of music: Horse Dance by Naseer Shamma

Favourite book: Science and geology

Favourite place to travel to: Washington DC

Best advice you’ve ever been given: If you have a dream, you have to believe it, then you will see it.

SPECS
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Analysis

Members of Syria's Alawite minority community face threat in their heartland after one of the deadliest days in country’s recent history. Read more

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SPECS

Engine: Two-litre four-cylinder turbo
Power: 235hp
Torque: 350Nm
Transmission: Nine-speed automatic
Price: From Dh167,500 ($45,000)
On sale: Now

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Family reunited

Nazanin Zaghari-Ratcliffe was born and raised in Tehran and studied English literature before working as a translator in the relief effort for the Japanese International Co-operation Agency in 2003.

She moved to the International Federation of Red Cross and Red Crescent Societies before moving to the World Health Organisation as a communications officer.

She came to the UK in 2007 after securing a scholarship at London Metropolitan University to study a master's in communication management and met her future husband through mutual friends a month later.

The couple were married in August 2009 in Winchester and their daughter was born in June 2014.

She was held in her native country a year later.