Ryan Reynolds takes on Superman in an arm wrestling match at Warner Bros World Abu Dhabi. Photo: Yas Island / Miral
Ryan Reynolds takes on Superman in an arm wrestling match at Warner Bros World Abu Dhabi. Photo: Yas Island / Miral
Ryan Reynolds takes on Superman in an arm wrestling match at Warner Bros World Abu Dhabi. Photo: Yas Island / Miral
Ryan Reynolds takes on Superman in an arm wrestling match at Warner Bros World Abu Dhabi. Photo: Yas Island / Miral

Ryan Reynolds' stint as Yas Island's chief island officer takes him to Warner Bros World


Farah Andrews
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More highlights from Ryan Reynolds's recent trip to Abu Dhabi have been shared on social media.

Yas Island's new chief island officer visited Warner Bros World on the island, meeting characters from the Warner Bros universe and enjoying some of the parks high-adrenalin rides.

In a video shared on Yas Island's Instagram, the Canadian Deadpool actor rubs shoulders with a host of DC Comics characters, including The Flash and Superman, challenging the latter to an arm wrestling match. He also rides on the The Riddler Revolution, while sat beside the Joker character, and poses for a photo with Road Runner.

Warner Bros World isn't the only theme park Reynolds explored in Abu Dhabi, he also visited Ferrari World, which he said "didn’t disappoint".

In an interview shared exclusively with The National, Reynolds said: "I loved the attention to detail [on Yas Island]. Everywhere you look it seems this place is made with care, relaxation, and adventure in mind. That said, the rollercoaster at Ferrari World was something I don’t think I’ll ever forget. I wasn’t expecting it to move that fast."

Kevin Hart was named Yas Island's first Chief Island Officer in 2022. Photo: Yas Island
Kevin Hart was named Yas Island's first Chief Island Officer in 2022. Photo: Yas Island

Previously, Jason Momoa and Kevin Hart have assumed the Yas Island chief island officer title, with Hart announced in May 2022 and Momoa in April 2023.

Of the decision to appoint Reynolds, and have him feature in their latest round of advertising campaigns, Liam Findlay, chief executive of Miral Destinations, said: "Reynolds brings his own unique blend of charisma, energy, and enthusiasm to the role, promising to elevate the Yas Island experience to even greater heights. We're thrilled to embark on this exhilarating journey with him, inviting fans worldwide to be part of the legacy."

So far, Reynolds's videos have seen him skydive on to the Yas Marina Circuit, visit Yas Waterworld and play a round of golf at Yas Links Golf Course.

A number of Hollywood stars have appeared in tourism campaigns for UAE destinations.

In August, Australian actor Chris Hemsworth collaborated with Dubai Tourism on a social media video, in which he visited the Museum of the Future, and in 2021 he worked on a campaign for Emirates and Dubai Expo 2020. In 2022, Jessica Alba and Zac Efron starred in a series of movie-like Dubai Tourism campaign videos set in the city.

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OUTSTANDING VARIETY/TALK SERIES

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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.”

Real estate tokenisation project

Dubai launched the pilot phase of its real estate tokenisation project last month.

The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.

Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.

Updated: May 17, 2024, 11:00 AM