Ferrari Purosangue: luxury SUV arrives in Dubai


Simon Wilgress-Pipe
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Ferrari has launched the Purosangue in the Middle East, its first foray into the luxury SUV market.

At a glitzy event in Dubai, the Prancing Horse brand’s first four-door, four-seater was revealed in the shadows of the Museum of the Future.

This is the first time people in the region got to see the car after its worldwide launch last month. Ferrari says the speed with which the model has made it to Emirati shores underlines the importance of the region to the brand’s global sales programme.

After its grand unveiling, Abu Dhabi got a look next as the Purosangue was transported to Yas Marina Circuit for a series of special viewings at the first race of the Passione Ferrari Club Challenge Middle East 2022/2023 season.

Spec-wise, there is an inordinate amount of power, even by luxury SUV standards. The Purosangue has been fitted with a naturally-aspirated 6.5-litre V12 engine capable of producing 725 horsepower.

And all that will see you get to 100 kilometres per hour from a standing start in 3.3 seconds.

The Purosangue, which translates as "thoroughbred" in its native Italian, features rear-hinged, coach-style doors at the back — called suicide doors in the trade — that have been fitted to make it easier to access the car while preserving a two-door appearance.

On stage in Dubai.
On stage in Dubai.

The front and rear seats are individual bucket jobs, giving a further sense that the car is hanging onto its sporty credentials wherever possible.

This does mean there is no room for a fifth passenger. Unsurprisingly, the interior is swathed in Ferrari-quality materials, so the car is also still very luxurious.

There is a 10.2-inch digital gauge cluster and a separate 10.2-inch screen for whoever is travelling in the front passenger seat.

It does come at a cost though, as prices start at about Dh1.7 million.

How Ferrari creates $5 million models — and who is allowed to buy them

Tamkeen's offering
  • Option 1: 70% in year 1, 50% in year 2, 30% in year 3
  • Option 2: 50% across three years
  • Option 3: 30% across five years 
Benefits of first-time home buyers' scheme
  • Priority access to new homes from participating developers
  • Discounts on sales price of off-plan units
  • Flexible payment plans from developers
  • Mortgages with better interest rates, faster approval times and reduced fees
  • DLD registration fee can be paid through banks or credit cards at zero interest rates
The%20specs
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How to play the stock market recovery in 2021?

If you are looking to build your long-term wealth in 2021 and beyond, the stock market is still the best place to do it as equities powered on despite the pandemic.

Investing in individual stocks is not for everyone and most private investors should stick to mutual funds and ETFs, but there are some thrilling opportunities for those who understand the risks.

Peter Garnry, head of equity strategy at Saxo Bank, says the 20 best-performing US and European stocks have delivered an average return year-to-date of 148 per cent, measured in local currency terms.

Online marketplace Etsy was the best performer with a return of 330.6 per cent, followed by communications software company Sinch (315.4 per cent), online supermarket HelloFresh (232.8 per cent) and fuel cells specialist NEL (191.7 per cent).

Mr Garnry says digital companies benefited from the lockdown, while green energy firms flew as efforts to combat climate change were ramped up, helped in part by the European Union’s green deal. 

Electric car company Tesla would be on the list if it had been part of the S&P 500 Index, but it only joined on December 21. “Tesla has become one of the most valuable companies in the world this year as demand for electric vehicles has grown dramatically,” Mr Garnry says.

By contrast, the 20 worst-performing European stocks fell 54 per cent on average, with European banks hit by the economic fallout from the pandemic, while cruise liners and airline stocks suffered due to travel restrictions.

As demand for energy fell, the oil and gas industry had a tough year, too.

Mr Garnry says the biggest story this year was the “absolute crunch” in so-called value stocks, companies that trade at low valuations compared to their earnings and growth potential.

He says they are “heavily tilted towards financials, miners, energy, utilities and industrials, which have all been hit hard by the Covid-19 pandemic”. “The last year saw these cheap stocks become cheaper and expensive stocks have become more expensive.” 

This has triggered excited talk about the “great value rotation” but Mr Garnry remains sceptical. “We need to see a breakout of interest rates combined with higher inflation before we join the crowd.”

Always remember that past performance is not a guarantee of future returns. Last year’s winners often turn out to be this year’s losers, and vice-versa.

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Diriyah%20project%20at%20a%20glance
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Gothia Cup 2025

4,872 matches 

1,942 teams

116 pitches

76 nations

26 UAE teams

15 Lebanese teams

2 Kuwaiti teams

The specs

Engine: 6.2-litre V8

Power: 502hp at 7,600rpm

Torque: 637Nm at 5,150rpm

Transmission: 8-speed dual-clutch auto

Price: from Dh317,671

On sale: now

French business

France has organised a delegation of leading businesses to travel to Syria. The group was led by French shipping giant CMA CGM, which struck a 30-year contract in May with the Syrian government to develop and run Latakia port. Also present were water and waste management company Suez, defence multinational Thales, and Ellipse Group, which is currently looking into rehabilitating Syrian hospitals.

The specs

Engine: Dual 180kW and 300kW front and rear motors

Power: 480kW

Torque: 850Nm

Transmission: Single-speed automatic

Price: From Dh359,900 ($98,000)

On sale: Now

Updated: October 25, 2022, 3:25 AM