Thirty-something years after introducing its “barefoot luxury” concept, which sparked countless copycats worldwide, Soneva, a resort chain founded in the Maldives, retains its distinctive aura of effortless cool. As well as pioneering the kind of laid-back perfection that, for most of us, exists only in our dreams, the brand is synonymous with a level of self-care that extends to the cellular level, but I will get to that later.
Launched in 1995, Soneva Fushi is the original property in the company’s portfolio. It sits on the Maldivian island of Kunfunadhoo in the Baa Atoll, which is part of the Unesco World Biosphere Reserves.
Founded by husband and wife team Sonu and Eva Shivdasani (a portmanteau whose names gave the company its identity), the hotel opened the same year as the couple launched luxury hospitality group Six Senses.
While the latter was sold in 2012, the pair focused on expanding the former, opening Thailand’s Soneva Kiri in 2009 and a second Maldives property, Soneva Jani in 2016 within the Noonu Atoll. This year, a third Maldives site, Soneva Secret, opened, described as a “barefoot paradise.” The brand also counts the private yacht Soneva in Aqua as part of its portfolio.
Famous for its “no shoes, no news” mantra, where footwear is ceremoniously removed and put aside as soon as guests step off the seaplane, Soneva is a place where guests can unplug from the stresses of modern life and embrace a slower, more peaceful existence.
Arriving for dinner in swimwear will not raise any eyebrows at Soneva, and bicycles are the main form of transportation on the islands. The place is steeped in luxury but in an easy, unfussy sort of way.
While slowing down, guests are encouraged to think about their health, both physically and mentally. The hotel is a destination where visitors can (and do) lounge by the pool all day, and it provides access to medical experts, therapists, and wellness practitioners with bespoke treatment programmes.
A variety of experiences, from acupuncture to vitamin intravenous drips, are available on-site, indicating that many of Soneva’s guests are focused not only on relaxation but also on enhancing their well-being.
Nestled within the lush tropical foliage of each Maldives resort lies Soneva Soul, a focal point for a range of treatments, including sound healing, yoga, hydrotherapy and the ancient Indian practice of Ayurveda, through to the ultra-modern hyperbaric oxygen therapy and, new this year, stem-cell therapy – regarded as the future of personalised medicine.
Offering what it describes as a blend of “thousands of years of ancient healing wisdom with modern science and innovation”, Soneva Soul gives its guests a holistic reset and recharge.
Soneva Fushi and Soneva Jani’s villas are what dreams are made of, spacious and airy, decorated in soothing neutral tones and built using natural materials wherever possible, with the wood – including reclaimed telegraph poles – and bamboo left unvarnished to bleach naturally in the sun. Driftwood salvaged from the beach, meanwhile, is turned into sculptures.
Numerous windows help guests connect with nature, affording views of the sea and omnipresent green foliage that is so dense you can almost smell the oxygen it generates.
Many villas come with water slides to whisk you straight into the impossibly turquoise sea, and to top it off, each room comes with its own Barefoot Guardian, a butler, who will seamlessly arrange every aspect of your stay, from floating breakfasts in the swimming pool to ferrying you to evening sundowners.
At Soneva Jani there is an outdoor cinema, with its screen propped on stilts above the water, as well as paddle boards and snorkelling gear free to grab and go. Those with an adventurous side can book a diving trip or, for a more relaxed outing, sunset cruises set sail most evenings offering the potential sighting of playful spinner dolphins. In-house marine biologists also get on board to offer insights and information.
The food, meanwhile, is fresh – either straight out of the sea, or the kitchen garden – and cooked by skilled chefs, while the home-made ice cream parlour is open around the clock. Combine all these factors and it begins to become clear why Soneva is not only world-famous, but boasts a guest return rate of about 50 per cent. Clearly, it is tapping into something more significant than just a pretty view.
Crucially, Soneva’s philosophy of caring does not stop there. As residents of the Maldives since 1990, the Shivdasanis are in tune with the significant impact tourism is having on the archipelago, both positive and negative. While the industry has created jobs across the 180 or so inhabited islands, those same hotels and resorts are now contributing copious amounts of waste, with 330 tonnes per day being disposed of.
Soneva is making a concerted ecological effort; rather than shipping its rubbish out of the resort, it has constructed on-site processing plants at each property to sort and reuse as much as possible. Food waste is heated to become fertiliser, a process that also kills off nasty pathogens before being spread on the surrounding vegetation.
Glass is collected and melted down to make water bottles (Soneva banned plastic ones in 1998) and drinking glasses, which are used across the villas and restaurants. Some will also be made into vases and artworks for guests to buy.
Drink cans and metals, meanwhile, are melted down to be used in villas, while paper and cardboard are sent off-site for recycling. Everything else that can be salvaged is removed, and only the remainder is consigned to landfill. To promote transparency, guests are invited to visit the glassworks and can even sign up for glass-blowing lessons.
Set up to help local communities manage their refuse, Soneva Namoona is a partnership between Soneva Fushi and neighbouring island communities. Also looking to improve quality of life is Soneva Foundation, which runs various programmes, including reforestation, mangrove planting and supplying wood-free stoves to vulnerable communities.
To date, it has planted 900,000 treesin Mozambique and 1.5 million mangrove trees in Myanmar, all funded by a two per cent levy on Soneva guests. In the Maldives, it is actively replanting coral, including 50,000 fragments displaced by construction around the archipelago, as well as rehoming 20,000 coral colonies, all nursed back to health using Mineral Accretion Technology tables, with the aim to grow and replant as many as 150,000 coral fragments per year.
Yet, while Soneva has every right to be preachy about its social and environmental record (I haven’t even touched upon the work they do to support local orphans), like with everything else, it seems to favour a quiet, laid-back approach.
The Soneva way feels less about shouting and more about actually doing, which is a notable thing in itself. Like with the symbolic removal of shoes on arrival, it seems happy to let small, meaningful actions do the talking, from the in-house astrologer, who is there to explain the night sky, to meals prepared from the kitchen garden.
Soneva espouses a way of living that is mindful and treats each moment as a gift. And perhaps this really is the greatest luxury of all.
UAE currency: the story behind the money in your pockets
Indoor cricket World Cup:
Insportz, Dubai, September 16-23
UAE fixtures:
Men
Saturday, September 16 – 1.45pm, v New Zealand
Sunday, September 17 – 10.30am, v Australia; 3.45pm, v South Africa
Monday, September 18 – 2pm, v England; 7.15pm, v India
Tuesday, September 19 – 12.15pm, v Singapore; 5.30pm, v Sri Lanka
Thursday, September 21 – 2pm v Malaysia
Friday, September 22 – 3.30pm, semi-final
Saturday, September 23 – 3pm, grand final
Women
Saturday, September 16 – 5.15pm, v Australia
Sunday, September 17 – 2pm, v South Africa; 7.15pm, v New Zealand
Monday, September 18 – 5.30pm, v England
Tuesday, September 19 – 10.30am, v New Zealand; 3.45pm, v South Africa
Thursday, September 21 – 12.15pm, v Australia
Friday, September 22 – 1.30pm, semi-final
Saturday, September 23 – 1pm, grand final
The biog
Favourite Emirati dish: Fish machboos
Favourite spice: Cumin
Family: mother, three sisters, three brothers and a two-year-old daughter
Dust and sand storms compared
Sand storm
- Particle size: Larger, heavier sand grains
- Visibility: Often dramatic with thick "walls" of sand
- Duration: Short-lived, typically localised
- Travel distance: Limited
- Source: Open desert areas with strong winds
Dust storm
- Particle size: Much finer, lightweight particles
- Visibility: Hazy skies but less intense
- Duration: Can linger for days
- Travel distance: Long-range, up to thousands of kilometres
- Source: Can be carried from distant regions
Who's who in Yemen conflict
Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government
Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council
Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south
Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory
Will the pound fall to parity with the dollar?
The idea of pound parity now seems less far-fetched as the risk grows that Britain may split away from the European Union without a deal.
Rupert Harrison, a fund manager at BlackRock, sees the risk of it falling to trade level with the dollar on a no-deal Brexit. The view echoes Morgan Stanley’s recent forecast that the currency can plunge toward $1 (Dh3.67) on such an outcome. That isn’t the majority view yet – a Bloomberg survey this month estimated the pound will slide to $1.10 should the UK exit the bloc without an agreement.
New Prime Minister Boris Johnson has repeatedly said that Britain will leave the EU on the October 31 deadline with or without an agreement, fuelling concern the nation is headed for a disorderly departure and fanning pessimism toward the pound. Sterling has fallen more than 7 per cent in the past three months, the worst performance among major developed-market currencies.
“The pound is at a much lower level now but I still think a no-deal exit would lead to significant volatility and we could be testing parity on a really bad outcome,” said Mr Harrison, who manages more than $10 billion in assets at BlackRock. “We will see this game of chicken continue through August and that’s likely negative for sterling,” he said about the deadlocked Brexit talks.
The pound fell 0.8 per cent to $1.2033 on Friday, its weakest closing level since the 1980s, after a report on the second quarter showed the UK economy shrank for the first time in six years. The data means it is likely the Bank of England will cut interest rates, according to Mizuho Bank.
The BOE said in November that the currency could fall even below $1 in an analysis on possible worst-case Brexit scenarios. Options-based calculations showed around a 6.4 per cent chance of pound-dollar parity in the next one year, markedly higher than 0.2 per cent in early March when prospects of a no-deal outcome were seemingly off the table.
Bloomberg
Company%20Profile
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The five pillars of Islam
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.”
UAE currency: the story behind the money in your pockets
Moon Music
Artist: Coldplay
Label: Parlophone/Atlantic
Number of tracks: 10
Rating: 3/5