The Panamera V6 is a sensible car, with four doors, numerous air bags, automatic hazard lights and a reversing camera.
The Panamera V6 is a sensible car, with four doors, numerous air bags, automatic hazard lights and a reversing camera.

2011 Porsche Panamera V6



On Top Gear, Jeremy Clarkson, James May and Richard Hammond admitted that the Panamera had plenty of poke but when the (now disgraced) Stig sped past them in it, they looked the other way, such was their dislike of the large, curvy design with the bulbous rear end and swooping roofline. Among my friends, there was a mix of opinions but it was the people who experienced the car from the inside and out who truly appreciated it. It looks better in real life than the first design sketches suggested.

When I picked up the entry-level V6 version, I loved the dark metallic purple shade called Amethyst - a nice change from the white or silver cars I often test drive. But the real proof of the Panamera is in the driving so I used all four seats and took three people on a ride through Abu Dhabi, Dubai, Sharjah and Umm al Quwain and back. The leather seats, with seat coolers in the front, are designed to look like stylised racing seats except these were extremely comfortable and easy to adjust. All four seats had their own climate control settings so we could vary the temperature and fan-blasting to our preferred levels.

Around the gear shifter is a dizzying collection of buttons. From here, you can do the following: control the temperature, try out the two sports modes (which just cause a lot of noise, higher revs and everything feels stiffer), adjust the suspension, raise and lower the window shades for the rear window and back doors (creates a similar effect to tinted windows,which will no doubt be a popular button in the UAE) and raise and lower the rear spoiler.

The central sat nav/reversing camera screen provides clear three-dimensional maps and is very easy to use. The entertainment is also controlled from here and it is instinctive and user-friendly. Above the front seat passengers is a sunroof, for which the weather will soon be ideal, and good map lights that won't induce eye strain. In a neat panel above the glovebox, the six-stacker CD player and retractable cup holders are elegantly hidden.

But for all positive points, the question remains as to whether this large, four-door beast really is a true Porsche. The 300hp engine sounded reassuringly Porsche and the first time I did a U-turn, I felt a cheeky hint of oversteer thanks to the rear-wheel drive but the traction control was firmly switched on and there was no way I was going to lose my tail. This was the first sign that this Porsche is the Captain Sensible of the collection.

The obvious sensible trait is the fact that it has four doors rather than two, so a Porsche purist will declare that it is not a Porsche at all. It has air bags galore and when I did an emergency stop after some fool slowed down for a green light, the hazard lights automatically came on. Very cautious indeed, especially in a nation where plenty of drivers put their hazard lights on for all sorts of reasons, very few of them valid.

Then there was the fantastic reversing camera, a gift in a car this large. This, combined with very sensitive parking sensors lowered the risk of hitting anything. These functions came into their own when I was negotiating inner city Abu Dhabi, where cars are parked in the most absurd places and the cars that are moving are driven by those who like to play the not-fun game of "invent your own lane where none exists".

This is a big, beast of a car and while it is a lot of fun at high speeds on the open road, it is best suited to people with a villa and a parking garage. As I have neither, I kept it parked a block away from my flat. Given that as I write this, my street is jam-packed with cars great and small, as well as an escaped shopping trolley, there was no way I was going to park Dh415,400 worth of automobile there. The car had made me more sensible. What kind of a Porsche was this?

The gearbox has seven speeds and while there is no clutch pedal, it is far more interesting when driven in manual mode than lazy automatic where it'll climb to seventh gear by the time you hit a leisurely 70kph. While Porsche purists will say "manual or nothing", it is nice - and less stressful - to have the option of manual and automatic in UAE traffic. Once you hit 120kph, the car makes a sound, as per GCC specifications. What is weird is that it's a hollow "bong" sound that makes you think you're 20,000 leagues under the sea in a submarine and it doesn't stop until you drop back under 120. What sort of Porsche is such a nanny when it comes to speed? Sure, at 300hp, this is the downsized engine, but it still likes to come out and play.

Very Porsche-like is the largest dial on the dashboard reserved for the tachometer - perfect for the obsessive who loves to know their rev count at all times. Underneath is a digital speedometer but for those, like me, who prefer to look at a speedo with a needle, it is much smaller and on the far left hidden largely by hand. So, seriously, what kind of a Porsche is this? As far as I can tell, it's a Porsche for the driver who loves his or her two-door Porsche, a nice little 911 for example, but two kids are now on the scene. The driver still wants the power and prestige of a Porsche but knows that the time in life has come to be, dare I say it, sensible.

The specs

Engine: Dual synchronous electric motors
Power: 660hp
Torque: 1,100Nm
Transmission: Single-speed automatic
Touring range: 488km-560km
Price: From Dh850,000 (estimate)
On sale: October

MATCH INFO

Karnatake Tuskers 114-1 (10 ovs)

Charles 57, Amla 47

Bangla Tigers 117-5 (8.5 ovs)

Fletcher 40, Moores 28 no, Lamichhane 2-9

Bangla Tiger win by five wickets

COMPANY PROFILE

Name: Kinetic 7
Started: 2018
Founder: Rick Parish
Based: Abu Dhabi, UAE
Industry: Clean cooking
Funding: $10 million
Investors: Self-funded

Other ways to buy used products in the UAE

UAE insurance firm Al Wathba National Insurance Company (AWNIC) last year launched an e-commerce website with a facility enabling users to buy car wrecks.

Bidders and potential buyers register on the online salvage car auction portal to view vehicles, review condition reports, or arrange physical surveys, and then start bidding for motors they plan to restore or harvest for parts.

Physical salvage car auctions are a common method for insurers around the world to move on heavily damaged vehicles, but AWNIC is one of the few UAE insurers to offer such services online.

For cars and less sizeable items such as bicycles and furniture, Dubizzle is arguably the best-known marketplace for pre-loved.

Founded in 2005, in recent years it has been joined by a plethora of Facebook community pages for shifting used goods, including Abu Dhabi Marketplace, Flea Market UAE and Arabian Ranches Souq Market while sites such as The Luxury Closet and Riot deal largely in second-hand fashion.

At the high-end of the pre-used spectrum, resellers such as Timepiece360.ae, WatchBox Middle East and Watches Market Dubai deal in authenticated second-hand luxury timepieces from brands such as Rolex, Hublot and Tag Heuer, with a warranty.

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.”

COMPANY PROFILE

Company: Eco Way
Started: December 2023
Founder: Ivan Kroshnyi
Based: Dubai, UAE
Industry: Electric vehicles
Investors: Bootstrapped with undisclosed funding. Looking to raise funds from outside

Brief scores:

Everton 2

Walcott 21', Sigurdsson 51'

Tottenham 6

Son 27', 61', Alli 35', Kane 42', 74', Eriksen 48'​​​​​​​

Man of the Match: Son Heung-min (Tottenham Hotspur)

COMPANY PROFILE

Name: SmartCrowd
Started: 2018
Founder: Siddiq Farid and Musfique Ahmed
Based: Dubai
Sector: FinTech / PropTech
Initial investment: $650,000
Current number of staff: 35
Investment stage: Series A
Investors: Various institutional investors and notable angel investors (500 MENA, Shurooq, Mada, Seedstar, Tricap)

What is an ETF?

An exchange traded fund is a type of investment fund that can be traded quickly and easily, just like stocks and shares. They come with no upfront costs aside from your brokerage's dealing charges and annual fees, which are far lower than on traditional mutual investment funds. Charges are as low as 0.03 per cent on one of the very cheapest (and most popular), Vanguard S&P 500 ETF, with the maximum around 0.75 per cent.

There is no fund manager deciding which stocks and other assets to invest in, instead they passively track their chosen index, country, region or commodity, regardless of whether it goes up or down.

The first ETF was launched as recently as 1993, but the sector boasted $5.78 billion in assets under management at the end of September as inflows hit record highs, according to the latest figures from ETFGI, a leading independent research and consultancy firm.

There are thousands to choose from, with the five largest providers BlackRock’s iShares, Vanguard, State Street Global Advisers, Deutsche Bank X-trackers and Invesco PowerShares.

While the best-known track major indices such as MSCI World, the S&P 500 and FTSE 100, you can also invest in specific countries or regions, large, medium or small companies, government bonds, gold, crude oil, cocoa, water, carbon, cattle, corn futures, currency shifts or even a stock market crash. 

Company Profile

Company: Astra Tech
Started: March 2022
Based: Dubai
Founder: Abdallah Abu Sheikh
Industry: technology investment and development
Funding size: $500m

The pillars of the Dubai Metaverse Strategy

Encourage innovation in the metaverse field and boost economic contribution

Develop outstanding talents through education and training

Develop applications and the way they are used in Dubai's government institutions

Adopt, expand and promote secure platforms globally

Develop the infrastructure and regulations


Weekender

Get the highlights of our exciting Weekend edition every Saturday

      By signing up, I agree to The National's privacy policy
      Weekender