February 1 marks the anniversary of Sheikh Hamdan bin Mohammed becoming Crown Prince of Dubai.
In his 14 years in the role, Sheikh Hamdan has become a much-loved figure across the UAE and around the world.
His love of adventure and animals, and his forward-thinking nature and passion for the country, have gained him millions of social media followers and countless celebrity friends.
Sheikh Hamdan, regularly referred to by his nickname Fazza, has also been instrumental in shaping Dubai into what it is today, launching initiatives to make the city an even more vibrant, healthy and enjoyable place in which to live and visit.
To celebrate his 14 years as Crown Prince, here are 14 things you need to know about him:
1. Why we call him Fazza
Like his father, Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, Sheikh Hamdan writes poetry, which he sometimes shares online.
Fazza means "a person who speeds to the help and support of others". From the Emirati dialect, it's a term often used in Nabati poetry, which is a common art form in the UAE.
Sheikh Hamdan has described his poetry as "my identity and poetic character through which I humbly attempt to rekindle joy in the hearts of people, alleviate their suffering in my own simple way. I express their hopes and aspirations".
Some of his poems have been turned into songs.
2. He is at home in the great outdoors
Whether it be skydiving, jet-skiing, hiking, snowboarding or zip-lining, Dubai's Crown Prince is a verified action man. His adventures are often shared on his Instagram page.
3. He studied at the Royal Military Academy Sandhurst
More than 200 Emiratis have studied at the British military school, including his father, Sheikh Mohammed.
Over the years, Sheikh Hamdan has shared photos from his time at Sandhurst, which he attended after studying at Rashid School For Boys.
Of his education, he told Vision magazine in 2012: "Education is so important in life – it is the key to everything that follows.
"My studies here in Dubai, then in the United Kingdom, opened my eyes to a world of possibilities. Education, knowledge and understanding enable you to look beyond today to new horizons.
“What you learn in prominent military academies like Sandhurst revolves around the values of discipline, responsibility and commitment. These values are practically essential to carry out your responsibilities competently.”
4. He is a keen fisherman
The UAE royal often shares photos of himself free-diving and deep-sea fishing.
A photo of his catch-of-the-day frequently follows soon after:
5. He is a real animal lover
Sheikh Hamdan seems to have a natural affinity with animals – from dogs and falcons to giraffes and baby deer.
He has even gone with a group of UAE conservationists to assist in trimming a giraffe’s hooves.
6. He is particularly passionate about horses
Although many animals are posted on Sheikh Hamdan's Instagram, horses seem to be a favourite.
The royal has ridden horses since childhood, taking part in endurance racing on horseback. He also owns race horses.
Sheikh Hamdan has won international and regional endurance riding medals.
7. He is very fitness-focused
Sheikh Hamdan is on a mission to make the UAE a healthier place.
Through the Dubai Fitness Challenge, he encourages residents of the emirate to workout for 30 minutes a day for 30 consecutive days.
He often posts photos of himself working out, whether it's in a gym, cycling or on an obstacle course, such as Sandstorm DXB, in which he took part in 2017.
8. He is a real family man
Barely a month goes by without a photo of one of his nieces or nephews popping up on his Instagram.
The posts often include a heart emoji, or an "I miss you" message to his young family members.
9. He is a new father
In 2021, Sheikh Hamdan became a first-time father – to twins. The Crown Prince and his wife, Sheikha Sheikha bint Saeed, welcomed a boy and a girl, Rashid and Sheikha, in May.
Since their birth, Sheikh Hamdan has shared a few snippets of the twins on social media, including a post introducing them to his champion horse, Adayar, at Godolphin, the Maktoum family's private stables in the UK.
"Training and education should start early on. Rashid and Shaikha came to see Adayar & wish him the best!", he captioned the snap.
10. He's certainly not afraid of heights
Over the years, Sheikh Hamdan has cemented his reputation as an adrenalin-lover.
But perhaps his scariest exploit was in December, when he climbed to the top of Burj Khalifa, filming himself harnessed on the spire of the world's tallest building.
The video, which he posted alongside the caption “828 metres of excitement”, has been viewed more than 1.8 million times.
Ahead of Ain Dubai opening in October 2021, he also stood on top of one of the observation wheel's pods at the top of the 250-metre structure.
11. He has many celebrity friends
From training with Cristiano Ronaldo to hanging out with UFC champion Khabib Nurmagomedov, Sheikh Hamdan spends time with more than a few A-list celebrities who have become his friends.
He is often pictured meeting stars for meals or in the gym when they visit Dubai. Most recently, he was spotted with Ronaldo visiting SushiSamba on Palm Jumeirah as well as Aura Skypool.
12. He loves photography
For a man who goes on as many adventures as Sheikh Hamdan, it's only natural that an interest in photography should follow.
His Instagram page is awash with stunning photos of Dubai and other landscapes around the world, but he has also been instrumental in attracting other people to the art form, founding the Hamdan International Photography Award in 2011.
13. He is keeping the art of falconry alive across the UAE
Only 15 kilometres inland from Jumeirah Beach, Sheikh Hamdan has a private falconry centre the size of an aircraft hangar.
The "mind-blowing" centre, which The National toured last year, has a falcon hospital and control room.
It plays a crucial part in the Crown Prince's many impressive competition wins in the sport. The centre is home to Fazza's breeding and training programme.
14. He's passionate about the environment
Much like his love for animals, he has also shown his support for many environmental causes over the years.
Most recently, he joined Dubai's Jumeirah Group in its conservation work, releasing turtle hatchlings back into the ocean.
To help mark World Turtle Day in June, Sheikh Hamdan and the team released 45 hawksbill turtles, and 20 hatchlings from the Emirates Marine Environmental Group’s Jebel Ali Reserve.
- An earlier version of this story first appeared on The National in February 2021
Ten tax points to be aware of in 2026
1. Domestic VAT refund amendments: request your refund within five years
If a business does not apply for the refund on time, they lose their credit.
2. E-invoicing in the UAE
Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption.
3. More tax audits
Tax authorities are increasingly using data already available across multiple filings to identify audit risks.
4. More beneficial VAT and excise tax penalty regime
Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.
5. Greater emphasis on statutory audit
There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.
6. Further transfer pricing enforcement
Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes.
7. Limited time periods for audits
Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion.
8. Pillar 2 implementation
Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.
9. Reduced compliance obligations for imported goods and services
Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations.
10. Substance and CbC reporting focus
Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity.
Contributed by Thomas Vanhee and Hend Rashwan, Aurifer
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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.”
Company profile
Company: Eighty6
Date started: October 2021
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Sector: Hospitality
Size: 25 employees
Funding stage: Pre-series A
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Investors: Seed funding, angel investors
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The President's Cake
Director: Hasan Hadi
Starring: Baneen Ahmad Nayyef, Waheed Thabet Khreibat, Sajad Mohamad Qasem
Rating: 4/5
