Read our guide to where to get the bargains at the Dubai Shopping Festival at Mall of the Emirates. (Paulo Vecina/The National)
Read our guide to where to get the bargains at the Dubai Shopping Festival at Mall of the Emirates. (Paulo Vecina/The National)
Read our guide to where to get the bargains at the Dubai Shopping Festival at Mall of the Emirates. (Paulo Vecina/The National)
Read our guide to where to get the bargains at the Dubai Shopping Festival at Mall of the Emirates. (Paulo Vecina/The National)

It's time to shop 'til you drop in Dubai


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It's that time of year again. Running until February 3, the Dubai Shopping Festival is in full swing. First established in 1996 and now in its 18th year, the internationally acclaimed event is trading under the banner "Dubai at its Best" this season, although "Dubai at its Busiest" might be more fitting.

For the next four weeks, there's no such thing as "off-peak" at the major retail hubs and parking is at a premium. So tired of scouring the levels of The Dubai Mall did many drivers become that they resorted to waiting patiently for shoppers to emerge from the lifts before trailing them back to their parking spots. Unless you have an extra hour to kill, take the Dubai Metro or grab a cab.

Similarly, arm yourself with a bottle of water before you leave the house as the queues at Costa Coffee, Burger King and even the Ikea cafe in Festival City move at a glacial pace. The agonising 25-minute wait for a caffeine fix means you’re far more likely to order a double-shot once you finally reach the counter.

For the next four weeks, there's no such thing as "off-peak" at the major retail hubs and parking is at a premium. So tired of scouring the levels of The Dubai Mall did many drivers become that they resorted to waiting patiently for shoppers to emerge from the lifts before trailing them back to their parking spots. Unless you have an extra hour to kill, take the Dubai Metro or grab a cab.

Similarly, arm yourself with a bottle of water before you leave the house as the queues at Costa Coffee, Burger King and even the Ikea cafe in Festival City move at a glacial pace. The agonising 25-minute wait for a caffeine fix means you're far more likely to order a double-shot once you finally reach the counter.

Roll-up, stock-up

For many, DSF marks the perfect opportunity to restock and revamp a wardrobe. However, be aware that sales are something designer labels simply don’t do.

Some diffusion lines, such as “Butterfly” by Matthew Williamson and Julian MacDonald’s “Star” range, are discounted, but the excessive draping, over-sequinned epaulettes and mumsy hues of plum and sage might not be to everyone’s taste.

On the flip side, there are some great bargains to be had at Mango, H&M and Zara. In the latter’s men’s section – classic cotton shirts in Henley blue with crisp, white collars and cuffs can be snapped up for just Dh145. Similarly, velvet jackets and tapered slacks are worth a look.

It’s a shoe-in at Zara

If you manage to battle your way through the frenzied crowds in Zara’s women’s section, your bravery will be rewarded. All the work-and-play staples you’ll ever likely need, from black pants to cocktail dresses, are generously discounted.

Bang-on-trend and therefore unlikely to last long, lemon yellow suede pumps with gold toe caps and chunky-heeled ankle boots are available in a wide range of sizes from Dh195 to Dh295.

Moreover, given the numerous pairs of Lincoln green velvet slip-ons with black moustache motif strewn around the store – which customers didn’t appear that keen to try – it seems highly likely that further reductions are on the way.

What’s in store

Heading for the major department stores is a sound tactic for sheer breadth of product and range of prices. That said, trolleys and baby strollers morph into battalions of battering rams in certain sections, namely children’s and homeware, so watch your ankles.

Harvey Nichols and Debenhams seemed two of the most civilised outlets, the latter offering discounts of up to 60 per cent on apparel.

Some of the best cost savings were to be found at Coast, where long georgette and silk chiffon gowns in jewel tones of emerald, ruby and sapphire were slashed by half to around Dh725. Also worth stocking up on are the eternally useful shrugs and cover-ups in every colour of the rainbow and going for a song at just Dh75.

Devil in the detail

While the DSF has only just officially got under way, many seasonal sales started in December which means that some rummaging is necessary in order to find the great deals that remain.

At the other end of the scale, and if you’re looking for bargain furniture, let’s say, you may be dismayed to find a modest 25-35 per cent discount on select items at Marina Home Exotic.

Arguably, another case in point is The One, where the cost-savings are somewhat marred by extra charges. Take a rather fabulous aged leather and chrome chair in the interior design store’s Mall of the Emirates branch, for example. Having been reduced from Dh5,495 to Dh3,571, a fee of Dh250 for home delivery during the sale period – where it would have ordinarily been free – threatens to leave some customers as distressed as the seat itself.

Come one, come all

Contrary to popular belief, the festival is not solely focused on shopping. From film promotions to concerts and sporting spectacles, the annual event aims to cater for the diverse interests of UAE residents and tourists. Al Ghurair Centre has an impressive array of puppet shows and jugglingdisplays in addition to the habitual face-painting stands and photo booths. Family entertainment takes place daily from 6.30pm -onwards.

Similarly, dancing dinosaurs, pipers and acrobats can’t be missed – mainly because the music and crowd participation is so loud – at malls from Marina to Mirdif.

If pyrotechnics are your thing, make your way to Dubai Creek, where organisers are promising a spectacular fireworks show to mark the festival’s finale.

Go for gold

One of the glittering promotions on offer this DSF has been launched by Dubai’s Lamcy Plaza. All customers spending Dh200 or more in the shopping destination’s outlets will be automatically entered into a draw for solid gold prizes. Eight winners will be selected over the four-week period to receive 24-carat bars, with two lucky customers receiving 100 gram ingots. If bullion fails to set your pulse racing, make sure you take advantage of the many raffles for airline tickets, cars and cash, available across the emirate during the month of January.

• Visit www.dubaievents.ae for more information

Indoor cricket in a nutshell
Indoor Cricket World Cup - Sept 16-20, Insportz, Dubai

16 Indoor cricket matches are 16 overs per side
8 There are eight players per team
9 There have been nine Indoor Cricket World Cups for men. Australia have won every one.
5 Five runs are deducted from the score when a wickets falls
4 Batsmen bat in pairs, facing four overs per partnership

Scoring In indoor cricket, runs are scored by way of both physical and bonus runs. Physical runs are scored by both batsmen completing a run from one crease to the other. Bonus runs are scored when the ball hits a net in different zones, but only when at least one physical run is score.

Zones

A Front net, behind the striker and wicketkeeper: 0 runs
B Side nets, between the striker and halfway down the pitch: 1 run
C Side nets between halfway and the bowlers end: 2 runs
D Back net: 4 runs on the bounce, 6 runs on the full

Europe’s rearming plan
  • Suspend strict budget rules to allow member countries to step up defence spending
  • Create new "instrument" providing €150 billion of loans to member countries for defence investment
  • Use the existing EU budget to direct more funds towards defence-related investment
  • Engage the bloc's European Investment Bank to drop limits on lending to defence firms
  • Create a savings and investments union to help companies access capital

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.”

Tips from the expert

Dobromir Radichkov, chief data officer at dubizzle and Bayut, offers a few tips for UAE residents looking to earn some cash from pre-loved items.

  1. Sellers should focus on providing high-quality used goods at attractive prices to buyers.
  2. It’s important to use clear and appealing photos, with catchy titles and detailed descriptions to capture the attention of prospective buyers.
  3. Try to advertise a realistic price to attract buyers looking for good deals, especially in the current environment where consumers are significantly more price-sensitive.
  4. Be creative and look around your home for valuable items that you no longer need but might be useful to others.