First look: New Toyota Camry makes Middle East debut


Simon Wilgress-Pipe
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Toyota has released the latest version of its Camry in the UAE, and the brand is citing it as by far the most advanced model in the lineage so far.

The new arrival sits as the car’s ninth generation and it has been upgraded with a sleeker, more assertive body shell, a re-engineered suspension and braking system, plus an improved safety suite.

The vehicle is traditionally used by taxi companies in the Emirates, but there are plenty in private hands as well.

In fact, the Camry is one of the UAE’s most popular cars, nudging traditional favourites such as the Nissan Patrol and brand sibling the Land Cruiser when it comes to the total number of units sold annually. As The National reported last year, two retired Emirati friends opted to set out in their trusty 2013 Toyota Camry on the road trip of a lifetime across Europe, covering more than 19,000km.

Stylistically, the new Camry’s trademark hammerhead design has been freshened up, and now all models feature LED headlights and taillights.

The car has been fitted with Toyota’s 2.5-litre 4-cylinder hybrid engine capable of producing 230bhp, but a similarly sized petrol version with slightly reduced power is also available.

It is also now possible to zip along in purely electric mode just by flicking a mode button. There are three drive options – normal, sport and eco – according to situation and driver preference. Trim variants come in the form of the E, XLE and GLE.

The Camry’s enhanced tech includes a new voice control system that allows those inside the cabin to alter vehicle set-up, audio levels, navigation and smartphone functions without having to touch anything.

A 7-inch digital cluster and 8-inch multimedia screen are now standard on the E and XLE models, while the GLE combines both of these in a comprehensive 12.3-inch unit.

Toyota’s Safety Sense 3.0 package is also now standard across the board. Features include pre-collision with pedestrian detection warning, radar cruise control, lane departure alert, lane tracing assist and automatic high beams.

Now, you also get a wireless charging pad, alongside the usual USB ports. The 2025 Camry has a baseline price of Dh109,900 and is available now.

In the US, the Camry is the best-selling sedan and will be available with only a hybrid powertrain from 2025, the company announced. The hybrid EV will combine a four-cylinder 2.5-litre petrol engine and two electric motors to deliver more power.

The decision was influenced by compliance with tougher US fuel economy rules, as well as “the performance we were able to get out of the hybrid”, David Christ, head of the Toyota brand in North America, told Reuters.

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1. Jasper Philipsen (Bel) Alpecin-Fenix 4:42:34

2. Sam Bennett (Irl) Bora-Hansgrohe

3. Elia Viviani (Ita) Ineos Grenadiers

4. Dylan Groenewegen (Ned) BikeExchange-Jayco

5. Emils Liepins (Lat) Trek-Segafredo

6. Arnaud Demare (Fra) Groupama-FDJ

7. Max Kanter (Ger) Movistar Team

8. Olav Kooij (Ned) Jumbo-Visma

9. Tom Devriendt (Bel) Intermarché-Wanty-Gobert Matériaux

10. Pascal Ackermann (Ger) UAE Team Emirate

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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.”

The biog

Hometown: Cairo

Age: 37

Favourite TV series: The Handmaid’s Tale, Black Mirror

Favourite anime series: Death Note, One Piece and Hellsing

Favourite book: Designing Brand Identity, Fifth Edition

What vitamins do we know are beneficial for living in the UAE

Vitamin D: Highly relevant in the UAE due to limited sun exposure; supports bone health, immunity and mood.Vitamin B12: Important for nerve health and energy production, especially for vegetarians, vegans and individuals with absorption issues.Iron: Useful only when deficiency or anaemia is confirmed; helps reduce fatigue and support immunity.Omega-3 (EPA/DHA): Supports heart health and reduces inflammation, especially for those who consume little fish.

Seven tips from Emirates NBD

1. Never respond to e-mails, calls or messages asking for account, card or internet banking details

2. Never store a card PIN (personal identification number) in your mobile or in your wallet

3. Ensure online shopping websites are secure and verified before providing card details

4. Change passwords periodically as a precautionary measure

5. Never share authentication data such as passwords, card PINs and OTPs  (one-time passwords) with third parties

6. Track bank notifications regarding transaction discrepancies

7. Report lost or stolen debit and credit cards immediately

Updated: August 16, 2024, 12:42 PM