Tariq Sanad is the managing director of Lime & Tonic Dubai, which recruits members for memorable lifestyle events. Razan Alzayani / The National
Tariq Sanad is the managing director of Lime & Tonic Dubai, which recruits members for memorable lifestyle events. Razan Alzayani / The National

Unique lifestyle experiences best taken with Lime & Tonic



Tariq Sanad specialises in creating memories.

A former financial manager, the 32-year-old native of Bahrain says it also makes business sense.

So, after nine-and-a-half years with the US consumer goods company Procter & Gamble in Dubai, Mr Sanad decided to take the plunge.

Within six months of meeting the home team of the Prague-based company Lime & Tonic, he liked the idea of packaging and selling unique lifestyle experiences so much that he invested his money in its global operations. And opened a Dubai office last September.

For instance, "you can have your afternoon tea watching polo at a 140-acre polo ground in Dubai for Dh130 [US$35] per person," says Mr Sanad, who is the managing director of Lime & Tonic Dubai. The service at the Desert Palm hotel is otherwise reserved only for guests at the facility. It is easy to compare companies such as Lime & Tonic with daily deals websites, but Mr Sanad is reluctant to do so. Focusing on social and individual experiences designed exclusively for members, Lime & Tonic is already expecting expansion in Abu Dhabi and beyond in a few months.

Along with Mr Sanad, hotel chefs designed most of the top-selling packages. These include a Secret Gourmet Supper Club outing at an art gallery in Dubai for Dh260 per person, a seven-course degustation lunch at Vu's Restaurant on the 50th floor of Jumeirah Emirates Tower for Dh750 per person, and dim sum and tea tasting at Hakkasan Restaurant at Jumeirah Emirates Towers for Dh200 per person.

In Dubai, Lime & Tonic has more than 4,500 registered members, and Mr Sanad's office records about 30 new members daily.

It is free to register and the company makes money by charging commission fees to participating hotels and restaurants. Even long-time Dubai residents have signed up to explore new places and activities through Lime & Tonic, and as gifts for their guests. The members are also rewarded with points that can move them into the top membership level, where they receive access to exclusive packages.

Currently the Prague-based enterprise has a staff of about 15 members spread across its London, Slovenia, Rio de Janeiro and Sydney offices. It has registered sales of about €1.77 million (Dh8.6m) globally since the start of its operations in February 2011.

About 20 merchants in Dubai have signed up knowing they can convert some Lime & Tonic members into repeat customers.

They can make up to Dh20,000 each through the bookings for each experience, says Mr Sanad. The Dubai office is doubling its sales month to month.

"I liked that they sell only unique experiences," says Arne Silvis, the general manager of Al Maha Desert Resort and Spa, one of Lime & Tonic's first merchants.

Al Maha offers early morning falconry, nature walks and dune driving activities besides spa and pool packages that include lunch at the hotel. "They also trained all my key members on how to handle bookings from their website as well as back office accounting." The hotel gets about 20 bookings a month through Lime & Tonic, and Mr Silvis says 10 per cent of the members have gone on to book weekend or extended stays at the hotel.

This year, Lime & Tonic expects to expand to 10 cities globally, including Abu Dhabi. For Dubai and Abu Dhabi combined, Mr Sanad's office has set a sales target of Dh1.8 million this year.

He plans to donate 10 per cent of the total revenues on each experience from his Dubai office to local charities such as Dubai Autism Center on a quarterly basis.

The entrepreneur says he never doubted the feasibility of the Lime & Tonic model in Dubai.

Last March Mr Sanad came across Stefan Cordiner, a co-founder and chief executive of Lime & Tonic, and learnt the team is looking for a partner in Dubai.

By September he had invested about $150,000 in the company's global operations and an office in Dubai downtown with a three-member team, including himself.

"I am very passionate about Dubai," says Mr Sanad.

KEY DATES IN AMAZON'S HISTORY

July 5, 1994: Jeff Bezos founds Cadabra Inc, which would later be renamed to Amazon.com, because his lawyer misheard the name as 'cadaver'. In its earliest days, the bookstore operated out of a rented garage in Bellevue, Washington

July 16, 1995: Amazon formally opens as an online bookseller. Fluid Concepts and Creative Analogies: Computer Models of the Fundamental Mechanisms of Thought becomes the first item sold on Amazon

1997: Amazon goes public at $18 a share, which has grown about 1,000 per cent at present. Its highest closing price was $197.85 on June 27, 2024

1998: Amazon acquires IMDb, its first major acquisition. It also starts selling CDs and DVDs

2000: Amazon Marketplace opens, allowing people to sell items on the website

2002: Amazon forms what would become Amazon Web Services, opening the Amazon.com platform to all developers. The cloud unit would follow in 2006

2003: Amazon turns in an annual profit of $75 million, the first time it ended a year in the black

2005: Amazon Prime is introduced, its first-ever subscription service that offered US customers free two-day shipping for $79 a year

2006: Amazon Unbox is unveiled, the company's video service that would later morph into Amazon Instant Video and, ultimately, Amazon Video

2007: Amazon's first hardware product, the Kindle e-reader, is introduced; the Fire TV and Fire Phone would come in 2014. Grocery service Amazon Fresh is also started

2009: Amazon introduces Amazon Basics, its in-house label for a variety of products

2010: The foundations for Amazon Studios were laid. Its first original streaming content debuted in 2013

2011: The Amazon Appstore for Google's Android is launched. It is still unavailable on Apple's iOS

2014: The Amazon Echo is launched, a speaker that acts as a personal digital assistant powered by Alexa

2017: Amazon acquires Whole Foods for $13.7 billion, its biggest acquisition

2018: Amazon's market cap briefly crosses the $1 trillion mark, making it, at the time, only the third company to achieve that milestone

SQUADS

Pakistan: Sarfraz Ahmed (capt), Azhar Ali, Shan Masood, Sami Aslam, Babar Azam, Asad Shafiq, Haris Sohail, Usman Salahuddin, Yasir Shah, Mohammad Asghar, Bilal Asif, Mir Hamza, Mohammad Amir, Hasan Ali, Mohammad Abbas, Wahab Riaz

Sri Lanka: Dinesh Chandimal (capt), Lahiru Thirimanne (vice-capt), Dimuth Karunaratne, Kaushal Silva, Kusal Mendis, Sadeera Samarawickrama, Roshen Silva, Niroshan Dickwella, Rangana Herath, Lakshan Sandakan, Dilruwan Perera, Suranga Lakmal, Nuwan Pradeep, Vishwa Fernando, Lahiru Gamage

Umpires: Ian Gould (ENG) and Nigel Llong (ENG)
TV umpire: Richard Kettleborough (ENG)
ICC match referee: Andy Pycroft (ZIM)

FFP EXPLAINED

What is Financial Fair Play?
Introduced in 2011 by Uefa, European football’s governing body, it demands that clubs live within their means. Chiefly, spend within their income and not make substantial losses.

What the rules dictate? 
The second phase of its implementation limits losses to €30 million (Dh136m) over three seasons. Extra expenditure is permitted for investment in sustainable areas (youth academies, stadium development, etc). Money provided by owners is not viewed as income. Revenue from “related parties” to those owners is assessed by Uefa's “financial control body” to be sure it is a fair value, or in line with market prices.

What are the penalties? 
There are a number of punishments, including fines, a loss of prize money or having to reduce squad size for European competition – as happened to PSG in 2014. There is even the threat of a competition ban, which could in theory lead to PSG’s suspension from the Uefa Champions League.

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.”

Match info

Bournemouth 0
Liverpool 4
(Salah 25', 48', 76', Cook 68' OG)

Man of the match: Andrew Robertson (Liverpool)

Command Z

Director: Steven Soderbergh

Stars: Michael Cera, Liev Schreiber, Chloe Radcliffe

Rating: 3/5

War

Director: Siddharth Anand

Cast: Hrithik Roshan, Tiger Shroff, Ashutosh Rana, Vaani Kapoor

Rating: Two out of five stars 

Huddersfield Town permanent signings:

  • Steve Mounie (striker): signed from Montpellier for £11 million
  • Tom Ince (winger): signed from Derby County for £7.7m
  • Aaron Mooy (midfielder): signed from Manchester City for £7.7m
  • Laurent Depoitre (striker): signed from Porto for £3.4m
  • Scott Malone (defender): signed from Fulham for £3.3m
  • Zanka (defender): signed from Copenhagen for £2.3m
  • Elias Kachunga (winger): signed for Ingolstadt for £1.1m
  • Danny WIlliams (midfielder): signed from Reading on a free transfer
Company Profile

Name: HyveGeo
Started: 2023
Founders: Abdulaziz bin Redha, Dr Samsurin Welch, Eva Morales and Dr Harjit Singh
Based: Cambridge and Dubai
Number of employees: 8
Industry: Sustainability & Environment
Funding: $200,000 plus undisclosed grant
Investors: Venture capital and government

MATCH INFO

Barcelona 2
Suarez (10'), Messi (52')

Real Madrid 2
Ronaldo (14'), Bale (72')

Dubai Rugby Sevens

November 30-December 2, at The Sevens, Dubai

Gulf Under 19

Pool A – Abu Dhabi Harlequins, Jumeirah College Tigers, Dubai English Speaking School 1, Gems World Academy

Pool B – British School Al Khubairat, Bahrain Colts, Jumeirah College Lions, Dubai English Speaking School 2

Pool C - Dubai College A, Dubai Sharks, Jumeirah English Speaking School, Al Yasmina

Pool D – Dubai Exiles, Dubai Hurricanes, Al Ain Amblers, Deira International School

Bahrain GP

Friday qualifying: 7pm (8pm UAE)

Saturday race: 7pm (UAE)

TV: BeIN Sports