A modified car at the Kandura Rally. Photo: Kandura Rally
A modified car at the Kandura Rally. Photo: Kandura Rally
A modified car at the Kandura Rally. Photo: Kandura Rally
A modified car at the Kandura Rally. Photo: Kandura Rally

Dubai's Kandura Rally revs up the UAE motoring community


Saeed Saeed
  • English
  • Arabic

The UAE’s vibrant motoring scene revved in celebration at the second Kandura Rally.

Held at the Dubai Autodrome on Friday, the event featured more than 200 cars and motorcycles, many of them customised in creative ways.

Some of the cars displayed included a Camaro, which was inspired by American basketballer LeBron James.

Car owners also took cues from blockbuster films and computer games, with an Avatar-themed Mustang GT, a Jeep Gladiator with Call of Duty visuals and a Joker-inspired Dodge SRT.

The rally also featured competitions with cash prizes totalling Dh35,000. Some of the categories included best sports car, sports bike, touring bike, sound system and body kit, as well as loudest exhaust.

Scroll through the gallery below to see prize-winning cars at the Kandura Rally

All entries were assessed by a panel of UAE and regional motor professionals, including Emirati race car driver Ghaith Al Falasi and motorcycle builder Karim El Tawil.

One of the winners was Tony Keyrouz, who broke out his latest wheels. “Another win. Another trophy. I am delighted to have won the Best Offroad 4x4 Category, with the one-off Jeep Gladiator Delta 1 with the Call of Duty military theme making its first appearance,” he said.

The Kandura Rally also featured a Roll Racing event, in which drivers competed in head-to-head drag racing competitions.

“The motoring community has overwhelmed us with their support, making the event possible. This gathering truly embodies Dubai's passion for cars, style and extravagance,” said Pragna Vaya, managing director from Orbit Events, the company behind the Kandura Rally. “The rally captured the spirit of the UAE's thriving car culture.”

The previous Kandura Rally took place last July at Dubai Digital Park, with more than 200 cars taking part.

Ferrari Challenge arrives in Dubai Autodrome — in pictures

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Tank warfare

Lt Gen Erik Petersen, deputy chief of programs, US Army, has argued it took a “three decade holiday” on modernising tanks. 

“There clearly remains a significant armoured heavy ground manoeuvre threat in this world and maintaining a world class armoured force is absolutely vital,” the general said in London last week.

“We are developing next generation capabilities to compete with and deter adversaries to prevent opportunism or miscalculation, and, if necessary, defeat any foe decisively.”

MATCH INFO

Liverpool 2 (Van Dijk 18', 24')

Brighton 1 (Dunk 79')

Red card: Alisson (Liverpool)

Gifts exchanged
  • King Charles - replica of President Eisenhower Sword
  • Queen Camilla -  Tiffany & Co vintage 18-carat gold, diamond and ruby flower brooch
  • Donald Trump - hand-bound leather book with Declaration of Independence
  • Melania Trump - personalised Anya Hindmarch handbag

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.”

Results
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The specs

Engine: 4.0-litre V8

Power: 503hp at 6,000rpm

Torque: 685Nm at 2,000rpm

Transmission: 8-speed auto

Price: from Dh850,000

On sale: now

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Updated: April 03, 2023, 4:03 PM