Last year's race saw a mere 49.7 seconds separating first and second place.
Last year's race saw a mere 49.7 seconds separating first and second place.

Junk food diet is the only loser in this weekend's 24 Hours of Dubai



If last year's 24 Hours of Dubai is anything to go by, spectators - who can head to the Autodrome today and watch the race free - are likely to be in for an exciting finish as the clock nears 2pm this afternoon, when the chequered flag will be waved. Last January, after a full 24 hours of action, a mere 49.7 seconds separated the winning Porsche 911 from a hard-charging BMW Z4 in second place.

This time around, there is no sign of the economic slowdown having affected interest in the event, with a bumper entry list of 80 cars representing teams and drivers from the four corners of the globe. "That's the phenomenal thing, the surprising thing," said Paul Velasco, communications manager at Dubai Autodrome. While some similar races in Europe only attracted half this number of entries, Velasco said the Dubai meeting was popular with drivers and mechanics who had enjoyed "such a good time" racing here last year.

There are about 400 drivers and, with each team fielding about 10 mechanics and other staff, close to 1,000 crew and marshals. More than three dozen nationalities are represented. "It's a mix of veterans and young wannabe GT drivers. That's what makes it quite interesting," said Velasco. "You will find the veterans teaming up with a lot of the younger drivers." About 150 tonnes of equipment descended on Dubai in the run-up to the race, brought in by teams coming from countries as diverse as Spain, Luxembourg, Australia, the Netherlands, Japan, China, Poland and Germany.

But the numbers tell just part of the story. The quality of the driver line-up also gives an indication of how high-powered this weekend's event is. Among those on the entry list is Marcos Ambrose, a double winner of the Australian V8 Supercars series and now a competitor in the Sprint Cup Series, the top tier of Nascar racing. He's joining the two-time Daytona 500 winner Michael Waltrip, a veteran Nascar competitor. They'll be piloting a Ferrari F430.

Many Emirati and other UAE-based drivers are mixing it with the top international talent, and they are taking the challenge seriously. No driver is more determined than Mohammed al Owais, a 27-year-old Emirati driving a Honda Civic for the Lap 57 team. For the past two months, the Sharjah driver, who is the reigning UAE Touring Car champion, has stopped eating junk food and has been to the gym twice a day. His punishing training regime has been all but essential because getting through a 24-hour race is no easy task, even when driving duties are shared between four of you.

"People think it's easy - you do two hours, then you go back - but it's a lot of work," al Owais said. "You have to be very focused. It's your responsibility to bring the car back for the other guy. If you destroy it, you destroy it for the whole team. "There's been no McDonald's, just healthy food, and the gym in the morning and the evening." Al Owais, who is also competing in this season's Chevrolet Supercars Middle East Championship, is sharing the Civic with his elder brother Omran, Umair Khan from Pakistan and Saeed al Mehairi from the UAE.

"We purposely built it for this," al Owais said of the 2009 model Type R Civic the quartet are racing. Just as the drivers have to prepare carefully and pace themselves during the event, so the cars are set up with endurance in mind. The focus is on efficiency, reliability and drive-ability rather than outright speed. That means the specifications for the engine, suspension and tyres are different to those for a sprint race.

"With the set-up of the car, you don't go very aggressive," al Owais said. "You need to keep the car very neutral so all four drivers are very comfortable." But while everyone has been hoping to get through the 24 hours without problems, each driver has been determined to put in a good showing. Al Owais and his teammates, who hope to enter their Civic into races at the Yas Marina Circuit in Abu Dhabi, Bahrain, Malaysia and even in Europe, are looking to drive off with top honours in their A2 class.

"We see the potential," he said. "That's the aim - first, not second or third. We're aiming for the win." dbardsley@thenational.ae

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

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 specs: 2018 Nissan Patrol Nismo

Price: base / as tested: Dh382,000

Engine: 5.6-litre V8

Gearbox: Seven-speed automatic

Power: 428hp @ 5,800rpm

Torque: 560Nm @ 3,600rpm

Fuel economy, combined: 12.7L / 100km

The specs

Engine: 3.5-litre twin-turbo V6

Power: 380hp at 5,800rpm

Torque: 530Nm at 1,300-4,500rpm

Transmission: Eight-speed auto

Price: From Dh299,000 ($81,415)

On sale: Now

Ticket prices
  • Golden circle - Dh995
  • Floor Standing - Dh495
  • Lower Bowl Platinum - Dh95
  • Lower Bowl premium - Dh795
  • Lower Bowl Plus - Dh695
  • Lower Bowl Standard- Dh595
  • Upper Bowl Premium - Dh395
  • Upper Bowl standard - Dh295
Our family matters legal consultant

 

Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

The%20stats%20and%20facts
%3Cp%3E1.9%20million%20women%20are%20at%20risk%20of%20developing%20cervical%20cancer%20in%20the%20UAE%3C%2Fp%3E%0A%3Cp%3E80%25%20of%20people%2C%20females%20and%20males%2C%20will%20get%20human%20papillomavirus%20(HPV)%20once%20in%20their%20lifetime%3C%2Fp%3E%0A%3Cp%3EOut%20of%20more%20than%20100%20types%20of%20HPV%2C%2014%20strains%20are%20cancer-causing%3C%2Fp%3E%0A%3Cp%3E99.9%25%20of%20cervical%20cancers%20are%20caused%20by%20the%20virus%3C%2Fp%3E%0A%3Cp%3EA%20five-year%20survival%20rate%20of%20close%20to%2096%25%20can%20be%20achieved%20with%20regular%20screenings%20for%20cervical%20cancer%20detection%3C%2Fp%3E%0A%3Cp%3EWomen%20aged%2025%20to%2029%20should%20get%20a%20Pap%20smear%20every%20three%20years%3C%2Fp%3E%0A%3Cp%3EWomen%20aged%2030%20to%2065%20should%20do%20a%20Pap%20smear%20and%20HPV%20test%20every%20five%20years%3C%2Fp%3E%0A%3Cp%3EChildren%20aged%2013%20and%20above%20should%20get%20the%20HPV%20vaccine%3C%2Fp%3E%0A