Al Qana in partnership with Grandiose supermarket is opening a food hall in Abu Dhabi in 2021. Courtesy Al Qana
Al Qana in partnership with Grandiose supermarket is opening a food hall in Abu Dhabi in 2021. Courtesy Al Qana
Al Qana in partnership with Grandiose supermarket is opening a food hall in Abu Dhabi in 2021. Courtesy Al Qana
Al Qana in partnership with Grandiose supermarket is opening a food hall in Abu Dhabi in 2021. Courtesy Al Qana

Food

Abu Dhabi’s Al Qana to open a new food hall by Grandiose Supermarket

The dining destination will offer coffee and bites, as well as one-of-a-kind artisanal products

Janice Rodrigues
Janice Rodrigues

June 21, 2021

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We’re spoilt for choice by the foodie offerings in the UAE, and a new initiative in Abu Dhabi is set to cater to the region's growing appetite for communal dining experiences.

Al Qana, the popular waterfront destination in the capital, has announced a partnership with supermarket chain Grandiose, to launch a “community-minded gourmet dining concept and food hall”.

The exact date for the opening is yet to be revealed, but it will most likely be in the fourth quarter of this year.

Visitors can expect a culinary hub, with everything from a cafe to a bakery, plus a deli and cheese section. It will "invite visitors on a culinary journey, sampling food and flavours from the city, country and region, with an emphasis on the fresh and organic supplies".

The Grandiose food hall will most likely open in Abu Dhabi in the fourth quarter of the year. Courtesy Al Qana
The Grandiose food hall will most likely open in Abu Dhabi in the fourth quarter of the year. Courtesy Al Qana

The opening will coincide with Grandiose’s new store launch in The Community Place in Al Qana. This will be the brand’s fourth store in Abu Dhabi, and will cover a total area of 1,200 square metres, including the food hall.

Olivier Latour, chief executive of Grandiose Supermarkets, said guests will find “a perfect balance of local and international flavours” within the new venue.

Stuart Gissing, general manager at Al Qana, said the launch is in line with the rising trend of food halls in the region. "The blend of setting up a supermarket and food hall is a trend that has grown in popularity over the past year in the UAE and the world.

"The food hall complements the plethora of other unique local and dining experiences Al Qana has to offer to become a foodie location of choice in Abu Dhabi and affirms our commitment to continually develop and introduce new and fresh ideas to the market.”

The Botanic Atrium, another food hall, is also set to open in World Trade Centre Abu Dhabi this year.

Inside Grandiose's food hall in Al Qana. Courtesy Al Qana
Inside Grandiose's food hall in Al Qana. Courtesy Al Qana

In Dubai, numerous food halls have popped up over the last year, including Depachika, which launched in Nakheel Mall, and South Market food hall in the Dubai International Financial Centre.

The newest kid on the block is Time Out Market Dubai, which opened at Souk Al Bahar in Downtown Dubai in April in partnership with Emaar. The indoor culinary destination offers visitors some of the best views of the Burj Khalifa and easy access to The Dubai Mall, and spans about 4,000 square metres, making it the largest food hall in the emirate.

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.”

if you go

The flights Fly Dubai, Air Arabia, Emirates, Etihad, and Royal Jordanian all offer direct, three-and-a-half-hour flights from the UAE to the Jordanian capital Amman. Alternatively, from June Fly Dubai will offer a new direct service from Dubai to Aqaba in the south of the country. See the airlines’ respective sites for varying prices or search on reliable price-comparison site Skyscanner.

The trip 

Jamie Lafferty was a guest of the Jordan Tourist Board. For more information on adventure tourism in Jordan see Visit Jordan. A number of new and established tour companies offer the chance to go caving, rock-climbing, canyoning, and mountaineering in Jordan. Prices vary depending on how many activities you want to do and how many days you plan to stay in the country. Among the leaders are Terhaal, who offer a two-day canyoning trip from Dh845 per person. If you really want to push your limits, contact the Stronger Team. For a more trek-focused trip, KE Adventure offers an eight-day trip from Dh5,300 per person.

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