Respected London fish restaurant Geales has opened the doors to its first overseas branch in Dubai Marina’s Royal Meridien Beach Resort and Spa.
The original London branch has been serving the finest British seafood, and of course fish ‘n’ chips, since 1939 and has established itself as a ‘posh chippy’ favourite among foodies and celebs alike in the UK capital. The Dubai branch looks set to carry on trading on that British tradition, with red telephone and post boxes, union flags and traditional British fare like dressed Cornish crab and even Cornish pasties making an appearance at the launch night.
We didn’t get to sample the full menu, but judging by the tasters on offer seafood lovers won’t be disappointed – deliciously lightly fried crispy calamari and first rate juicy prawns were among our favourites. The full menu also offers tantalising options such as The Tower of Geales, a chef’s selection of fresh seafood, shellfish, crustaceans, crudo delicacies, small bites and homemade sauces and traditional British deserts including apple crumble and berry trifle, all accompanied by a huge range of British-inspired drinks.
The interior is plush and modern, but cosy and comfy at the same time, with quilted seating and monochrome union flag scatter cushions. The big draw looks set to be the outdoor terrace though - the bar sits on dark-coloured, elevated decking overlooking the hotel beach and grounds, while further tables on the lawn were complimented by a traditional British ice cream van, and even a Punch and Judy show.
Geales Urban Seafood and Lounge is open seven days a week. Dinner is served from 6pm to midnight (Saturday to Wednesday) and from 6pm to 1am (Thursday and Friday). To make a reservation, please call 04 316 5550 or visit www.geales-dubai.com
cnewbould@thenational.ae
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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.
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