The UAE is no stranger when it comes to lavish wedding ceremonies.
And, although the wedding industry around the world has been hard hit in recent years, 2022 seems to be signalling a comeback.
In January, Vanshika Goenka wed Aneesh Misra in a multi-day ceremony that had the family booking out Dubai's Raffles The Palm Dubai.
The hotel confirmed that the wedding took place over the course of a weekend. “I believe this would be the biggest wedding Dubai would have hosted this year,” Ayman Gharib, managing director at Raffles The Palm Dubai, said in the days after the ceremony.
“We had 700 guests flying from all over the world. The most prominent business figures in the world were attending amongst other celebrity guests and performers.”
As part of the grand celebrations, a fireworks display was organised and there was a laser show on the facade of the hotel running during the main events that “danced to the music performed at the event”.
“It was an extremely unique sensorial experience,” says Gharib.
For a look at Raffles The Palm Dubai's facilities, scroll through the gallery below:
Some other details that lent the occasion a luxe touch?
“VIP guests [were] gifted gold-leafed hangers and mirrors. The most sought-after waffle makers from Belgium were flown in for special waffle-making. And the flowers, that were changed daily, were flown into Dubai, filling an entire aircraft.”
The celebrations even took place at a glittering ceremony at Ain Dubai one evening.
It took approximately eight months to organise a wedding of this grandeur.
What was on the menu?
When it comes to weddings, food can be a make or break deal, and this one had all its bases covered.
Foodlink was chosen as the caterers for the event, and brought together other local and global partners such as Roberto’s, Al Safadi, Angelina, Wafi Gourmet and more. This also included the likes of star chefs Manuel Berganza and specialist chefs from India offering everything from street food to modernist and experimental cuisine.
Some creative dishes at the wedding included confit Spanish lamb in brioche and cilantro picada, poached scallop, patatas bravas, roasted pumpkin gratinated with almond butter and eggplant “caviar”, lightly pickled cucumber stuffed with lobster salad, and baby vegetables with Romesco and black olive earth.
Interactive stations were a big part of the Palm Jumeirah wedding, with a fresh truffle station with Alba white and black truffles, as well asnd lobster, caviar and oyster stations.
Meanwhile, for those with a sweet tooth, there were signature dishes by brands including a selection by Pierre Marcolini, Angelina (which is known for its hot chocolate), Sprungli, Magnolia Bakery, Laderach and Massimo Gelato.
Wedding feast trends in 2022
If you’re wondering what it takes to craft a feast of such grandeur, it all begins with “curating the right menu, keeping in mind the preferences, background, traditions and demographics of the guest list,”says Sanjay Vazirani, managing director of Foodlink.
“On the basis of this information, we propose menus keeping every celebration distinct and special.”
There are some new trends in the industry too, fuelled, in part owing to the pandemic.
For example, single-serve packages or mono portions are here to stay. “A robust and updated food safety and management system and appointment of trained hygiene officers are also a must-have,” says Vazirani.
Customers are also more health and eco-conscious, selecting food that is locally produced and sustainable, while plant-based eating is also on the rise.
Finally, interactive cooking stations are also popular. “Guests are no longer impressed by their food being made live in front of them. They expect it. This way they get to pick and choose the ingredients, interact with the chefs. And the experience of eating it fresh is not comparable,” says Vazirani.
This year may have started off in grand fashion when it comes to weddings, but Vazirani predicts 2022 is only going to get better from here, when it comes to celebrations in the UAE.
“Dubai is not just rising in ranks, it’s widely considered one of the best global destinations," he says. "Looking at the growing number of elite brands from different nations that are expanding their business in the UAE, it’s clear that the country has established itself — both with working, living and planning special occasions.”
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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.”
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Classification of skills
A worker is categorised as skilled by the MOHRE based on nine levels given in the International Standard Classification of Occupations (ISCO) issued by the International Labour Organisation.
A skilled worker would be someone at a professional level (levels 1 – 5) which includes managers, professionals, technicians and associate professionals, clerical support workers, and service and sales workers.
The worker must also have an attested educational certificate higher than secondary or an equivalent certification, and earn a monthly salary of at least Dh4,000.
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