• Leena Al Akkad wanted her home to encapsulate Arabian and European finery. All photos: Victor Besa / The National
    Leena Al Akkad wanted her home to encapsulate Arabian and European finery. All photos: Victor Besa / The National
  • The house brings traditional Damascus architecture to Qarayen suburb, Sharjah.
    The house brings traditional Damascus architecture to Qarayen suburb, Sharjah.
  • In keeping with Al Akkad's Syrian roots, the house has a courtyard with a water fountain.
    In keeping with Al Akkad's Syrian roots, the house has a courtyard with a water fountain.
  • The house has been decorated by Abeer Al Ameri, Al Akkad's daughter and founder of luxury Emirati home decor boutique Salud Design.
    The house has been decorated by Abeer Al Ameri, Al Akkad's daughter and founder of luxury Emirati home decor boutique Salud Design.
  • The liwan, or grand hall, is decked with mother-of-pearl furniture designed and crafted by Damascene artisans.
    The liwan, or grand hall, is decked with mother-of-pearl furniture designed and crafted by Damascene artisans.
  • A hand-carved pillar bed in the master bedroom.
    A hand-carved pillar bed in the master bedroom.
  • The pillars of the bed have been hand-painted by King Farouk's furniture-maker Pasha Hussein Al Atrabi.
    The pillars of the bed have been hand-painted by King Farouk's furniture-maker Pasha Hussein Al Atrabi.
  • The late 'pasha' was behind several pieces found around the house.
    The late 'pasha' was behind several pieces found around the house.
  • A walk-in closet keeps up the vintage opulence theme.
    A walk-in closet keeps up the vintage opulence theme.
  • The hand-carved dining table is infused with copper.
    The hand-carved dining table is infused with copper.
  • The dining table set cost $165,000.
    The dining table set cost $165,000.
  • Intricate stitching and carved patterns on one of the dining chairs by Al Atrabi.
    Intricate stitching and carved patterns on one of the dining chairs by Al Atrabi.
  • One bedroom is entirely filled with furniture inlaid with mother-of-pearl.
    One bedroom is entirely filled with furniture inlaid with mother-of-pearl.
  • A lion's share of the furniture that decorates the house is vintage or was created by master craftspeople.
    A lion's share of the furniture that decorates the house is vintage or was created by master craftspeople.
  • The chandeliers were picked to reflect the theme of each room and are priced between $45,000 and $70,000.
    The chandeliers were picked to reflect the theme of each room and are priced between $45,000 and $70,000.
  • This wedding chest made of mother-of-pearl is more than 100 years old.
    This wedding chest made of mother-of-pearl is more than 100 years old.
  • Two other chests are estimated to date back to the era of the Mughal Empire.
    Two other chests are estimated to date back to the era of the Mughal Empire.
  • The intricate rosewood chests were imported from India.
    The intricate rosewood chests were imported from India.
  • Angelic details on the grand Steinway piano.
    Angelic details on the grand Steinway piano.
  • The house is also decked out with antique French and Italian pieces bought at auction.
    The house is also decked out with antique French and Italian pieces bought at auction.

Emirati designer transforms Sharjah home with $225,000 liwan and King Farouk-style bed


Razmig Bedirian
  • English
  • Arabic

Involving family in professional projects can be a volatile affair. However, for Abeer Al Ameri, interior designing her parent’s house in Sharjah was a chance to collaborate with the person she credits as the source of her aesthetic sensibilities.

“My mother is a big reason why I do this,” says Al Ameri, founder of Salud Design, a luxury home decor boutique specialising in high-end vintage furniture from 18th and 19th century Europe. “I’ve always had a passion for opulent design and 80 per cent of my passion comes from my mother.”

The house's stone-striped arches bring traditional Damascus architecture to Qarayen suburb, Sharjah. Victor Besa / The National
The house's stone-striped arches bring traditional Damascus architecture to Qarayen suburb, Sharjah. Victor Besa / The National

Her mum Leena Al Akkad's home has been a project 15 years in the making. A Syrian national who has been living in Dubai for more than four decades, Al Akkad wanted her house to pay homage to her grandfather’s home in Damascus, where she grew up. She wanted to instil an “Arab spirit” with French baroque flair.

“From the beginning, I knew I wanted a liwan, central fountain and mashrabiyas. The house had to reflect the place I come from,” Al Akkad says. “I wanted something from our countries to put an Arab spirit into the house. But at the same time, I didn’t want it to be exclusively Arab. The house is spacious, so it can handle different themes, mixing between European and Arabian.”

Al Akkad envisioned a Damascene palace with the splendour of King Louis XIV’s court. And, given the unusual nature of a commission like this in the UAE, it took time to find the right teams for the job.

Abeer Al Ameri is the founder of the Emirati home decor company Salud Design. Photo: Abeer Al Ameri
Abeer Al Ameri is the founder of the Emirati home decor company Salud Design. Photo: Abeer Al Ameri

However, even after the house was finished, as its stone-striped arches brought traditional Damascus architecture to the Qarayen suburb in Sharjah, it was just beginning.

“The design brief was mainly her background,” Al Ameri says. “She wanted a house implementing what a traditional Syrian house would look like. The liwan, the courtyard fountain, the main pieces of furniture all reflect on her heritage.”

Most of the furniture adorning the six bedrooms and eight bathrooms have been made to measure by reputed Levantine and Egyptian artisans. There are some locally produced items as well as antique French, Indian and Italian pieces bought from auctions, such as the two French credenzas in the foyer, each of which cost $28,000.

Two delicate chest of drawers made of rosewood have been imported from India. Victor Besa / The National
Two delicate chest of drawers made of rosewood have been imported from India. Victor Besa / The National

The house opens up to a water fountain and courtyard, with a modern take on the traditional Damascus-style feature. The courtyard leads to a wide staircase with thick wooden banisters, complementing the mashrabiya windows overlooking the fountain.

Al Akkad says she would ideally liked to have an open-air courtyard, however owing to the local climate, she opted for a glass-domed roof, which still lets in ample sunlight.

A harp and a vintage Steinway grand piano are also set up in the indoor courtyard. The instruments have been hand-painted by Lebanese artists with baroque floral motifs.

However, some of the most striking furniture is the set decorating the liwan, Al Akkad’s favourite space in the house where she likes to start her mornings with a coffee.

“All of the furniture in the liwan is custom-made,” Al Ameri says. “It was made to fit the exact measurements of the space. The pieces were made in Syria and assembled here by specialists.”

Some of the most striking furniture in the house are the pieces in the liwan, or grand hall, custom-made by artisans in Damascus. Victor Besa / The National
Some of the most striking furniture in the house are the pieces in the liwan, or grand hall, custom-made by artisans in Damascus. Victor Besa / The National

Mother-of-pearl and abalone are in-laid in wood etching out floral patterns and signature Damascene geometries. The furniture set took more than two years to construct and cost more than $225,000, Al Ameri says. The attention to detail and fine craftsmanship of the furniture is stunning, especially considering the set was built during some of the most brutal periods of the Syrian conflict.

“There was a lot of travelling for this project,” Al Akkad says. “I went to Syria despite the conflict, so I could order the pieces. The last of them arrived in 2015.”

The lined stone walls in the rooms are also directly inspired by the walls of Al Akkad’s family home in Syria. Printed murals decorate the arched recesses around the living room with scenes of Damascene heritage. Others are decked around the house, changing from European to Arabian scenery depending on the theme of each room.

The panelled scenes and general aesthetic of the prints, Al Ameri says, were inspired by the type of artworks found in the Palace of Versailles. The chandeliers were also picked to reflect the theme of each room and are priced between $45,000 and $70,000.

Mother-of-pearl furniture is a recurring theme. One bedroom in particular has been devoted to the semi-precious material and comes with a handcrafted set costing $80,000.

A bed encrusted with mother-of-pearl. Victor Besa / The National
A bed encrusted with mother-of-pearl. Victor Besa / The National

Another room features a bed crafted by the recently closed company of esteemed Egyptian artisan Hussein Al Atrabi, whom the family refer to as pasha. Hand-carved and painted to look identical to the pieces made for King Farouk's palace, the bed cost a cool $60,000. The pasha — a dignified title in 20th-century Egypt — is also responsible for the $165,000 dining table set, a sprawling wooden piece infused with copper.

“He recently passed away,” Al Akkad says. “He was 90 years old. He worked for the palace of King Farouk. He would never compromise his work and design. Even if you wanted to opt for a simpler design for a better price, he would decrease the price, but wouldn’t alter a single detail. It was important to him to still make the same pieces he did for the king.”

In the guest bedroom, which is one of Al Ameri’s favourites, antique French Aubusson tapestry makes up the fabric of the bench seat and ottoman.

“It’s a bit of a lost art,” Al Ameri says. “The place it comes from in France is called Aubusson and they are famous for this fabric, which tells stories. You only find them in auction houses now, for more than $20,000.”

The copper-infused dining table was made by Basha Al Atrabi, who created furniture for King Farouk of Egypt. Photo: Victor Besa / The National
The copper-infused dining table was made by Basha Al Atrabi, who created furniture for King Farouk of Egypt. Photo: Victor Besa / The National

Between the customised artisanal furniture and the antiques, there is an evident focus on craftsmanship and heritage in the Al Akkad household. “It was a lengthy process,” Al Ameri says. “But I’m happy with how it came out. There is still some furniture being brought in.”

Al Ameri says working with her mother provided some of the most memorable experiences of her professional life. She says she is still learning from her mother’s breadth of experience and eye for design. Her family, she says, is a large driving force of her decor company.

“Salud is a play on initials,” Al Ameri says. “It mixes Sultan, the name of my father and son, with Leena, my mother, and my son Suood. I took the initials and jumbled the word and stumbled on Salud. At first, I didn’t know it means 'cheers' in French; I chose it because it sounded nice and sort of like the French 'salut'.”

Al Ameri says while she has a keen interest in working on more local projects, she also has an eye on the international scene.

“I want to reach a place where I am an expert on antiques and valuables, where I can look at a piece and know exactly where it goes, whether it can be renovated and how much i'ts worth," she says. "My aim is to, one day, renovate a European palace.”

Nine-bedroom mansion from New York Gilded Age goes on sale for $33 million — in pictures

  • NYC Gilded Age mansion lists for the first time in 40 years, asking $33 million. All photos: Christie's
    NYC Gilded Age mansion lists for the first time in 40 years, asking $33 million. All photos: Christie's
  • The home is located at 123 E, 35th Street in Murray Hill, between Park and Lexington avenues.
    The home is located at 123 E, 35th Street in Murray Hill, between Park and Lexington avenues.
  • The building is one of the largest single-family homes in New York.
    The building is one of the largest single-family homes in New York.
  • The mansion’s eight floors are connected by a mahogany staircase and wood-panelled lift.
    The mansion’s eight floors are connected by a mahogany staircase and wood-panelled lift.
  • The Lanier House was classified by the NYC Landmarks Preservation Commission as representative of the Parisian Beaux-Arts style.
    The Lanier House was classified by the NYC Landmarks Preservation Commission as representative of the Parisian Beaux-Arts style.
  • The house is listed in the National Register of Historic Palaces.
    The house is listed in the National Register of Historic Palaces.
  • The mansion has nine bedrooms, including five suites, seven full bathrooms, as well as staff bedrooms.
    The mansion has nine bedrooms, including five suites, seven full bathrooms, as well as staff bedrooms.
  • Architectural features include carved stonework, wrought-iron balustrades, a copper roof, Ionic pilasters and tiger oak double-doors.
    Architectural features include carved stonework, wrought-iron balustrades, a copper roof, Ionic pilasters and tiger oak double-doors.
  • Three skylights ensure the space has adequate natural light.
    Three skylights ensure the space has adequate natural light.
  • The Laniers were the mansion’s first owners when it was built more than a century ago.
    The Laniers were the mansion’s first owners when it was built more than a century ago.
  • It is unclear who currently owns the property.
    It is unclear who currently owns the property.
  • The mansion is on the market for $33 million.
    The mansion is on the market for $33 million.
  • The reception hall has a marble fountain and a rose medallion ceiling decked with a crystal chandelier.
    The reception hall has a marble fountain and a rose medallion ceiling decked with a crystal chandelier.
  • Amenities include a gym, sauna, pool, massage room, wine cellar, and a courtyard garden with ivy trellises and a stone fountain.
    Amenities include a gym, sauna, pool, massage room, wine cellar, and a courtyard garden with ivy trellises and a stone fountain.
Stage result

1. Pascal Ackermann (GER) Bora-Hansgrohe, in 3:29.09

2. Caleb Ewan (AUS) Lotto-Soudal

3. Rudy Barbier (FRA) Israel Start-Up Nation

4. Dylan Groenewegen (NED) Jumbo-Visma

5. Luka Mezgec (SLO) Mitchelton-Scott

6. Alberto Dainese (ITA) Sunweb

7. Jakub Mareczko (ITA) CCC

8. Max Walscheid (GER) NTT

9. José Rojas (ESP) Movistar

10. Andrea Vendrame (ITA) Ag2r La Mondiale, all at same time

UPI facts

More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions

COMPANY%20PROFILE
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ICC men's cricketer of the year

2004 - Rahul Dravid (IND) ; 2005 - Jacques Kallis (SA) and Andrew Flintoff (ENG); 2006 - Ricky Ponting (AUS); 2007 - Ricky Ponting; 2008 - Shivnarine Chanderpaul (WI); 2009 - Mitchell Johnson (AUS); 2010 - Sachin Tendulkar (IND); 2011 - Jonathan Trott (ENG); 2012 - Kumar Sangakkara (SL); 2013 - Michael Clarke (AUS); 2014 - Mitchell Johnson; 2015 - Steve Smith (AUS); 2016 - Ravichandran Ashwin (IND); 2017 - Virat Kohli (IND); 2018 - Virat Kohli; 2019 - Ben Stokes (ENG); 2021 - Shaheen Afridi

MATCH INFO

Newcastle United 2 (Willems 25', Shelvey 88')

Manchester City 2 (Sterling 22', De Bruyne 82')

THE BIO

Age: 30

Favourite book: The Power of Habit

Favourite quote: "The world is full of good people, if you cannot find one, be one"

Favourite exercise: The snatch

Favourite colour: Blue

Living in...

This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home. 

TICKETS

Tickets start at Dh100 for adults, while children can enter free on the opening day. For more information, visit www.mubadalawtc.com.

ICC Awards for 2021

MEN

Cricketer of the Year – Shaheen Afridi (Pakistan)

T20 Cricketer of the Year – Mohammad Rizwan (Pakistan)

ODI Cricketer of the Year – Babar Azam (Pakistan)

Test Cricketer of the Year – Joe Root (England)

WOMEN

Cricketer of the Year – Smriti Mandhana (India)

ODI Cricketer of the Year – Lizelle Lee (South Africa)

T20 Cricketer of the Year – Tammy Beaumont (England)

Other workplace saving schemes
  • The UAE government announced a retirement savings plan for private and free zone sector employees in 2023.
  • Dubai’s savings retirement scheme for foreign employees working in the emirate’s government and public sector came into effect in 2022.
  • National Bonds unveiled a Golden Pension Scheme in 2022 to help private-sector foreign employees with their financial planning.
  • In April 2021, Hayah Insurance unveiled a workplace savings plan to help UAE employees save for their retirement.
  • Lunate, an Abu Dhabi-based investment manager, has launched a fund that will allow UAE private companies to offer employees investment returns on end-of-service benefits.
Best Foreign Language Film nominees

Capernaum (Lebanon)

Cold War (Poland)

Never Look Away (Germany)

Roma (Mexico)

Shoplifters (Japan)

Wicked: For Good

Director: Jon M Chu

Starring: Ariana Grande, Cynthia Erivo, Jonathan Bailey, Jeff Goldblum, Michelle Yeoh, Ethan Slater

Rating: 4/5

The biog

Age: 59

From: Giza Governorate, Egypt

Family: A daughter, two sons and wife

Favourite tree: Ghaf

Runner up favourite tree: Frankincense 

Favourite place on Sir Bani Yas Island: “I love all of Sir Bani Yas. Every spot of Sir Bani Yas, I love it.”

Factfile on Garbine Muguruza:

Name: Garbine Muguruza (ESP)

World ranking: 15 (will rise to 5 on Monday)

Date of birth: October 8, 1993

Place of birth: Caracas, Venezuela

Place of residence: Geneva, Switzerland

Height: 6ft (1.82m)

Career singles titles: 4

Grand Slam titles: 2 (French Open 2016, Wimbledon 2017)

Career prize money: $13,928,719

UAE v Gibraltar

What: International friendly

When: 7pm kick off

Where: Rugby Park, Dubai Sports City

Admission: Free

Online: The match will be broadcast live on Dubai Exiles’ Facebook page

UAE squad: Lucas Waddington (Dubai Exiles), Gio Fourie (Exiles), Craig Nutt (Abu Dhabi Harlequins), Phil Brady (Harlequins), Daniel Perry (Dubai Hurricanes), Esekaia Dranibota (Harlequins), Matt Mills (Exiles), Jaen Botes (Exiles), Kristian Stinson (Exiles), Murray Reason (Abu Dhabi Saracens), Dave Knight (Hurricanes), Ross Samson (Jebel Ali Dragons), DuRandt Gerber (Exiles), Saki Naisau (Dragons), Andrew Powell (Hurricanes), Emosi Vacanau (Harlequins), Niko Volavola (Dragons), Matt Richards (Dragons), Luke Stevenson (Harlequins), Josh Ives (Dubai Sports City Eagles), Sean Stevens (Saracens), Thinus Steyn (Exiles)

'Saand Ki Aankh'

Produced by: Reliance Entertainment with Chalk and Cheese Films
Director: Tushar Hiranandani
Cast: Taapsee Pannu, Bhumi Pednekar, Prakash Jha, Vineet Singh
Rating: 3.5/5 stars

Teaching your child to save

Pre-school (three - five years)

You can’t yet talk about investing or borrowing, but introduce a “classic” money bank and start putting gifts and allowances away. When the child wants a specific toy, have them save for it and help them track their progress.

Early childhood (six - eight years)

Replace the money bank with three jars labelled ‘saving’, ‘spending’ and ‘sharing’. Have the child divide their allowance into the three jars each week and explain their choices in splitting their pocket money. A guide could be 25 per cent saving, 50 per cent spending, 25 per cent for charity and gift-giving.

Middle childhood (nine - 11 years)

Open a bank savings account and help your child establish a budget and set a savings goal. Introduce the notion of ‘paying yourself first’ by putting away savings as soon as your allowance is paid.

Young teens (12 - 14 years)

Change your child’s allowance from weekly to monthly and help them pinpoint long-range goals such as a trip, so they can start longer-term saving and find new ways to increase their saving.

Teenage (15 - 18 years)

Discuss mutual expectations about university costs and identify what they can help fund and set goals. Don’t pay for everything, so they can experience the pride of contributing.

Young adulthood (19 - 22 years)

Discuss post-graduation plans and future life goals, quantify expenses such as first apartment, work wardrobe, holidays and help them continue to save towards these goals.

* JP Morgan Private Bank 

MATCH INFO

Norwich City 0 Southampton 3 (Ings 49', Armstrong 54', Redmond 79')

Living in...

This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home. 

If you go

The flights

Emirates flies from Dubai to Seattle from Dh5,555 return, including taxes. Portland is a 260 km drive from Seattle and Emirates offers codeshare flights to Portland with its partner Alaska Airlines.

The car

Hertz (www.hertz.ae) offers compact car rental from about $300 per week, including taxes. Emirates Skywards members can earn points on their car hire through Hertz.

Parks and accommodation

For information on Crater Lake National Park, visit www.nps.gov/crla/index.htm . Because of the altitude, large parts of the park are closed in winter due to snow. While the park’s summer season is May 22-October 31, typically, the full loop of the Rim Drive is only possible from late July until the end of October. Entry costs $25 per car for a day. For accommodation, see www.travelcraterlake.com. For information on Umpqua Hot Springs, see www.fs.usda.gov and https://soakoregon.com/umpqua-hot-springs/. For Bend, see https://www.visitbend.com/.

Company profile

Company: Rent Your Wardrobe 

Date started: May 2021 

Founder: Mamta Arora 

Based: Dubai 

Sector: Clothes rental subscription 

Stage: Bootstrapped, self-funded 

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Getting there

The flights

Emirates and Etihad fly to Johannesburg or Cape Town daily. Flights cost from about Dh3,325, with a flying time of 8hours and 15 minutes. From there, fly South African Airlines or Air Namibia to Namibia’s Windhoek Hosea Kutako International Airport, for about Dh850. Flying time is 2 hours.

The stay

Wilderness Little Kulala offers stays from £460 (Dh2,135) per person, per night. It is one of seven Wilderness Safari lodges in Namibia; www.wilderness-safaris.com.

Skeleton Coast Safaris’ four-day adventure involves joining a very small group in a private plane, flying to some of the remotest areas in the world, with each night spent at a different camp. It costs from US$8,335.30 (Dh30,611); www.skeletoncoastsafaris.com

'Dark Waters'

Directed by: Todd Haynes

Starring: Mark Ruffalo, Anne Hathaway, William Jackson Harper 

Rating: ****

Getting there
Flydubai flies direct from Dubai to Tbilisi from Dh1,025 return including taxes

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.”

The specs
  • Engine: 3.9-litre twin-turbo V8
  • Power: 640hp
  • Torque: 760nm
  • On sale: 2026
  • Price: Not announced yet
The President's Cake

Director: Hasan Hadi

Starring: Baneen Ahmad Nayyef, Waheed Thabet Khreibat, Sajad Mohamad Qasem 

Rating: 4/5

Company Profile

Name: Thndr
Started: 2019
Co-founders: Ahmad Hammouda and Seif Amr
Sector: FinTech
Headquarters: Egypt
UAE base: Hub71, Abu Dhabi
Current number of staff: More than 150
Funds raised: $22 million

Get Out

Director: Jordan Peele

Stars: Daniel Kaluuya, Allison Williams, Catherine Keener, Bradley Whitford

Four stars

While you're here
What is a robo-adviser?

Robo-advisers use an online sign-up process to gauge an investor’s risk tolerance by feeding information such as their age, income, saving goals and investment history into an algorithm, which then assigns them an investment portfolio, ranging from more conservative to higher risk ones.

These portfolios are made up of exchange traded funds (ETFs) with exposure to indices such as US and global equities, fixed-income products like bonds, though exposure to real estate, commodity ETFs or gold is also possible.

Investing in ETFs allows robo-advisers to offer fees far lower than traditional investments, such as actively managed mutual funds bought through a bank or broker. Investors can buy ETFs directly via a brokerage, but with robo-advisers they benefit from investment portfolios matched to their risk tolerance as well as being user friendly.

Many robo-advisers charge what are called wrap fees, meaning there are no additional fees such as subscription or withdrawal fees, success fees or fees for rebalancing.

COMPANY%20PROFILE
%3Cp%3E%3Cstrong%3EName%3A%3C%2Fstrong%3E%20Carzaty%2C%20now%20Kavak%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Dubai%3Cbr%3E%3Cstrong%3ELaunch%20year%3A%20%3C%2Fstrong%3ECarzaty%20launched%20in%202018%2C%20Kavak%20in%20the%20GCC%20launched%20in%202022%3Cbr%3E%3Cstrong%3ENumber%20of%20employees%3A%3C%2Fstrong%3E%20140%3Cbr%3E%3Cstrong%3ESector%3A%3C%2Fstrong%3E%20Automotive%3Cbr%3E%3Cstrong%3EFunding%3A%20%3C%2Fstrong%3ECarzaty%20raised%20%246m%20in%20equity%20and%20%244m%20in%20debt%3B%20Kavak%20plans%20%24130m%20investment%20in%20the%20GCC%3C%2Fp%3E%0A
Key facilities
  • Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
  • Premier League-standard football pitch
  • 400m Olympic running track
  • NBA-spec basketball court with auditorium
  • 600-seat auditorium
  • Spaces for historical and cultural exploration
  • An elevated football field that doubles as a helipad
  • Specialist robotics and science laboratories
  • AR and VR-enabled learning centres
  • Disruption Lab and Research Centre for developing entrepreneurial skills
Polarised public

31% in UK say BBC is biased to left-wing views

19% in UK say BBC is biased to right-wing views

19% in UK say BBC is not biased at all

Source: YouGov

The five types of long-term residential visas

Obed Suhail of ServiceMarket, an online home services marketplace, outlines the five types of long-term residential visas:

Investors:

A 10-year residency visa can be obtained by investors who invest Dh10 million, out of which 60 per cent should not be in real estate. It can be a public investment through a deposit or in a business. Those who invest Dh5 million or more in property are eligible for a five-year residency visa. The invested amount should be completely owned by the investors, not loaned, and retained for at least three years.

Entrepreneurs:

A five-year multiple entry visa is available to entrepreneurs with a previous project worth Dh0.5m or those with the approval of an accredited business incubator in the UAE.  

Specialists

Expats with specialised talents, including doctors, specialists, scientists, inventors, and creative individuals working in the field of culture and art are eligible for a 10-year visa, given that they have a valid employment contract in one of these fields in the country.

Outstanding students:

A five-year visa will be granted to outstanding students who have a grade of 95 per cent or higher in a secondary school, or those who graduate with a GPA of 3.75 from a university. 

Retirees:

Expats who are at least 55 years old can obtain a five-year retirement visa if they invest Dh2m in property, have savings of Dh1m or more, or have a monthly income of at least Dh20,000.

The biog

Name: Dhabia Khalifa AlQubaisi

Age: 23

How she spends spare time: Playing with cats at the clinic and feeding them

Inspiration: My father. He’s a hard working man who has been through a lot to provide us with everything we need

Favourite book: Attitude, emotions and the psychology of cats by Dr Nicholes Dodman

Favourit film: 101 Dalmatians - it remind me of my childhood and began my love of dogs 

Word of advice: By being patient, good things will come and by staying positive you’ll have the will to continue to love what you're doing

Updated: July 06, 2022, 11:30 AM