• The modern, upscale interior vibe at Zeman Awwal, a place where the heritage, traditions and culture of the UAE are displayed, in Mall of the Emirates. Khushnum Bhandari / The National
    The modern, upscale interior vibe at Zeman Awwal, a place where the heritage, traditions and culture of the UAE are displayed, in Mall of the Emirates. Khushnum Bhandari / The National
  • Mini souq stalls where items are displayed and sold in Zeman Awwal. A new market has also launched at the cultural hub. Khushnum Bhandari / The National
    Mini souq stalls where items are displayed and sold in Zeman Awwal. A new market has also launched at the cultural hub. Khushnum Bhandari / The National
  • There Goes The Neighbourhood alternative market takes place at One Life Kitchen and Cafe in Dubai Design District. Photo: There Goes The Neighbourhood
    There Goes The Neighbourhood alternative market takes place at One Life Kitchen and Cafe in Dubai Design District. Photo: There Goes The Neighbourhood
  • Shops at the Souk Al Marfa, a waterfront market at Deira Islands in Dubai. There are plenty of indoor stalls to peruse at the market. Pawan Singh / The National
    Shops at the Souk Al Marfa, a waterfront market at Deira Islands in Dubai. There are plenty of indoor stalls to peruse at the market. Pawan Singh / The National
  • Dubai Flea Market has been running for years. During the summer, it moves indoors. Pawan Singh / The National
    Dubai Flea Market has been running for years. During the summer, it moves indoors. Pawan Singh / The National
  • Ripe Market is being held indoors at four different locations in Dubai this summer. Photo: Ripe Market
    Ripe Market is being held indoors at four different locations in Dubai this summer. Photo: Ripe Market
  • Arte, The Makers Market has been running at Times Square Centre in Dubai for years. The next event takes place at the beginning of September. Christopher Pike / The National
    Arte, The Makers Market has been running at Times Square Centre in Dubai for years. The next event takes place at the beginning of September. Christopher Pike / The National
  • Carly Dubery, founder of Not Just For Vegans, a vegan market that's hosting two events in August in Abu Dhabi and Dubai. Photo: Not Just For Vegans
    Carly Dubery, founder of Not Just For Vegans, a vegan market that's hosting two events in August in Abu Dhabi and Dubai. Photo: Not Just For Vegans
  • A mini pop-up market is taking place at Dubai Festival City Mall as part of Dubai Summer Surprises. Photo: Antonie Robertson / The National
    A mini pop-up market is taking place at Dubai Festival City Mall as part of Dubai Summer Surprises. Photo: Antonie Robertson / The National

10 indoor markets and pop-ups to shop at this summer in Dubai


Katy Gillett
  • English
  • Arabic

While the UAE certainly isn't short of air-conditioned shopping malls, there's nothing quite like a marketplace and some of Dubai's favourites have moved indoors for the summer.

Rifle through second-hand goods at Dubai Flea Market, peruse antiques at Souk Al Marfa and pick up plant-based items at the Not Just For Vegans pop-up.

There's something for every shopper in Dubai and these markets are spread throughout the city, from Barsha to Palm Jumeirah and Dubai Festival City.

Here are some of the best indoor markets to check out this summer.

Dubai Flea Market

Dubai’s popular flea market has moved indoors for the summer with an event at Dubai World Trade Centre, at the main hall 4. It takes place on the first Sunday of the month, from 11am to 6pm, the next one will happen on Sunday, August 7. Usually taking place outdoors at a different location each month, Dubai Flea Market is a place to sell and buy secondhand goods, with everything from furniture and appliances to electronics and antiques on sale. Also find toys, games, books, clothes, ceramics and more.

More information is available at www.dubai-fleamarket.com

There Goes the Neighbourhood

This monthly alternative market experience will next take place on Saturday and Sunday, August 6 and 7 at One Life Kitchen and Cafe in Dubai Design District. It's a celebration of Africa and the African diaspora, with about 20 vendors selling goods, offering workshops, playing games and providing trivia. African street food options, including South African braai, will also be on offer, as well as live music.

More information is at www.instagram.com/tgtnalternativemarket

Urban Market

Shop from vintage, thrift and local artisans at the Urban Market, which is next taking place on Saturday, August 6 from 2pm to 8pm at Radisson Red Hotel Dubai Silicon Oasis. High-street fashion, beauty products, wellness and fitness items, plus plenty more, will be on sale. There will be live beats, drinks and burgers to enjoy, too.

More information is available at www.urbanmarketconcept.com

Zeman Awwal

  • Zeman Awwal, a permanent cultural space celebrating local heritage and giving Emirati artists the chance to present their work, is located at Mall of the Emirates in Dubai. All photos: Khushnum Bhandari / The National
    Zeman Awwal, a permanent cultural space celebrating local heritage and giving Emirati artists the chance to present their work, is located at Mall of the Emirates in Dubai. All photos: Khushnum Bhandari / The National
  • The space puts Emirati traditions under the spotlight and comprises nine distinct areas showcasing art, fashion, poetry, film and food.
    The space puts Emirati traditions under the spotlight and comprises nine distinct areas showcasing art, fashion, poetry, film and food.
  • Zeman Awwal aims to provide the mall’s visitors an authentic look at various aspects of Emirati culture.
    Zeman Awwal aims to provide the mall’s visitors an authentic look at various aspects of Emirati culture.
  • A boy practices Al Youla dance with a replica wooden rifle.
    A boy practices Al Youla dance with a replica wooden rifle.
  • Craft workshops will also be held intermittently at the space, teaching visitors artisan skills that are passed from generation to generation, including Sadu and palm frond weaving.
    Craft workshops will also be held intermittently at the space, teaching visitors artisan skills that are passed from generation to generation, including Sadu and palm frond weaving.
  • A collection of 10 dresses from The Zay Initiative are on display at Zeman Awwal.
    A collection of 10 dresses from The Zay Initiative are on display at Zeman Awwal.
  • Zeman Awwal also features a variety of souqs, selling everything from carpets and leather products to spices, fabrics and souvenirs.
    Zeman Awwal also features a variety of souqs, selling everything from carpets and leather products to spices, fabrics and souvenirs.
  • Hussain Moosa, director at Mall of the Emirates, says Zeman Awwal is meant to offer the mall's visitors a perspective on UAE history.
    Hussain Moosa, director at Mall of the Emirates, says Zeman Awwal is meant to offer the mall's visitors a perspective on UAE history.
  • Traditional Emirati bridal processions will be reenacted periodically at the venue.
    Traditional Emirati bridal processions will be reenacted periodically at the venue.
  • An Emirati artist sketches a portrait of Sheikh Zayed, the Founding Father.
    An Emirati artist sketches a portrait of Sheikh Zayed, the Founding Father.
  • Workshops offering a look at Emirati handicrafts will also be held.
    Workshops offering a look at Emirati handicrafts will also be held.
  • The modern, upscale interior vibe at Zeman Awwal provides a platform for Emirati artists to showcase their work.
    The modern, upscale interior vibe at Zeman Awwal provides a platform for Emirati artists to showcase their work.
  • Zeman Awwal also features sections depicting local customs during weddings, and excursions to the desert and the sea.
    Zeman Awwal also features sections depicting local customs during weddings, and excursions to the desert and the sea.
  • A floating ghaf tree located in the centre of the space.
    A floating ghaf tree located in the centre of the space.
  • Decked out with plush seats alluding to traditional Arab decor, the Cinema Al Majlis screens a selection of Emirati films and series.
    Decked out with plush seats alluding to traditional Arab decor, the Cinema Al Majlis screens a selection of Emirati films and series.

Mall of the Emirates’s cultural hub now has a new market, which features home-grown brands, leading artists and designers specialising in jewellery, fashion, arts and crafts, as well as culinary experiences. Located on level two in the fashion dome, next to Armani Cafe, Zeman Awwal also offers a new drop and shop service for parents looking to keep their children entertained while they trawl the mall. This new service is on offer daily between 1pm and 10pm for children aged 3 to 9 or Dh70 to 100 per hour.

More information is available at www.malloftheemirates.com

Ripe Market

One of Dubai's favourite outdoor markets moves indoors during the summer, with several events each month. Every Saturday, head to The Springs Souk between 10am and 10pm or Golden Mile Galleria at Palm Jumeirah between 9am to 7pm. On Sundays the market moves to Times Square Centre Dubai (August 7, 14 and 28 from 10am to 7pm), Me’aisem City Centre (August 7 and 21 from 10am to 10pm) and Circle Mall in JVC (August 14 and 28 from 10am to 7pm). Expect the regular roster of vendors selling all sorts of beautiful, handmade items, including food, gift, jewellery, clothes, homeware and more.

More information is available at www.ripeevents.com

Reborn Society

As part of Dubai Design District’s Rethink Summer programme, which includes workshops, talks, activities and more throughout d3, there’s Reborn Society, an exclusive pop-up shop by influencer and designer Zeynab El-Helw. The brand's sustainable fashion collections, made from 100 per cent organic cotton and recycled materials, are up for sale, and a portion of the proceeds will go towards UNHCR to support refugees around the world. Find it at the d3 Summer Hub.

More information is available at www.therebornsociety.com

Souk Al Marfa

  • There are 10 million antiques and rarities on display at the Museum Hub across 50 stalls. This includes old car licence plates. All photos: Ruel Pableo for The National
    There are 10 million antiques and rarities on display at the Museum Hub across 50 stalls. This includes old car licence plates. All photos: Ruel Pableo for The National
  • Old telecoms equipment on display at The Museum Hub, which recently opened at Souk Al Marfa, Deira, Dubai.
    Old telecoms equipment on display at The Museum Hub, which recently opened at Souk Al Marfa, Deira, Dubai.
  • Owner Naser Sulaiman has been a dedicated collector of antiques for 45 years.
    Owner Naser Sulaiman has been a dedicated collector of antiques for 45 years.
  • The objects being presented at the Museum Hub, worth about Dh100 million, are only a fraction of Sulaiman’s collection.
    The objects being presented at the Museum Hub, worth about Dh100 million, are only a fraction of Sulaiman’s collection.
  • One of Sulaiman’s most prized aspects of his collection are his agals.
    One of Sulaiman’s most prized aspects of his collection are his agals.
  • While some of the exhibited objects are for sale, the ones that hold most historical value will remain part of the collection.
    While some of the exhibited objects are for sale, the ones that hold most historical value will remain part of the collection.
  • Different types of coffee and tea.
    Different types of coffee and tea.
  • Old medical items on display.
    Old medical items on display.
  • Different types of sewing machines.
    Different types of sewing machines.
  • The hub is set to expand by another 50 stalls in September, with 50 more opening every six months until Sulaiman’s full collection is housed at Souk Al Marfa — or at least, a lion’s share of it.
    The hub is set to expand by another 50 stalls in September, with 50 more opening every six months until Sulaiman’s full collection is housed at Souk Al Marfa — or at least, a lion’s share of it.
  • While a large part of Sulaiman’s antiques focus on regional history and heritage, his full collection includes rarities he has come across on his travels and these are housed around the world.
    While a large part of Sulaiman’s antiques focus on regional history and heritage, his full collection includes rarities he has come across on his travels and these are housed around the world.
  • Phones and typewriters.
    Phones and typewriters.
  • Fatima shows an old perfume.
    Fatima shows an old perfume.
  • Musical instruments.
    Musical instruments.
  • Different types of walking sticks.
    Different types of walking sticks.
  • Sulaiman has 300,000 classifications of antiques.
    Sulaiman has 300,000 classifications of antiques.
  • Varieties of coffee pots made of different metals.
    Varieties of coffee pots made of different metals.
  • An old ice cream maker.
    An old ice cream maker.
  • Perfumes and oud museum.
    Perfumes and oud museum.
  • More musical instruments on display.
    More musical instruments on display.
  • Different types of weighing scales.
    Different types of weighing scales.
  • The stalls are thematically curated.
    The stalls are thematically curated.
  • Naser Sulaiman, founder of Museum Hub, says the collection’s true owners are the UAE’s leadership and people, and that he is merely its custodian.
    Naser Sulaiman, founder of Museum Hub, says the collection’s true owners are the UAE’s leadership and people, and that he is merely its custodian.

Peruse the hundreds of shops and stalls at Deira’s waterfront marketplace, which has 70 retail pavilions divided into various core categories. This includes the recently opened Museum Hub, which comprises 50 stalls and boasts a collection of 10 million antiques and rarities representing the pre-millennium lifestyle and heritage of the UAE. The stalls, dubbed “museums”, are thematically curated, presenting items from handmade portraits of UAE leaders to postal stamps and coins to jewellery and musical instruments. There are some fascinating pieces on display, many of which are for sale.

More information is available at www.soukalmarfa.ae

Not Just For Vegans

This ad-hoc vegan market is hosting events in Abu Dhabi and Dubai this month, with a pop-up at The Sportsman’s Arms in the capital's Zayed Sports City on Sunday, August 21, followed by one at Zabeel House The Greens by Jumeirah on Sunday, August 28, each from noon to 6pm. There’s free entry to the market, which brings together a variety of local businesses selling and promoting vegan products. That's everything from food and drinks to eco-friendly homeware and clothes to candles.

More information is available at www.notjustforvegans.com

Arte, The Makers Market

Browse dozens of stalls by local artisans who create handmade art, fashion and crafts at Arte, The Makers Market, which was first established in 2005. Find everything from artworks to candles and skincare items to jewellery, plus gifts, home decor, clothes, food and more. The free-to-enter indoor market takes place every Saturday between 10am and 6pm, and alternates between Mercato Mall on Jumeirah Road and Times Square Centre, near Al Quoz. It will take a break for the next few weeks and return to Mercato on Saturday, September 3.

More information is at www.arte.ae

The Market at Dubai Festival City

As part of Dubai Summer Surprises, which runs until Monday, September 4, an indoor pop-up market is taking place at Dubai Festival City. Mall visitors can check out The Market, which is opposite a petting zoo, and peruse stalls by local and home-grown vendors, offering all manner of products, including items for children, pets and the home.

More information is available at www.dubaifestivalcitymall.com

30 new things to do indoors in the UAE this summer — in pictures

  • Take a sushi-making masterclass at SushiSamba in Dubai. Photo: SushiSamba
    Take a sushi-making masterclass at SushiSamba in Dubai. Photo: SushiSamba
  • Roxy Cinemas is opening at Dubai Hills Mall this summer. Photo: Roxy Cinemas
    Roxy Cinemas is opening at Dubai Hills Mall this summer. Photo: Roxy Cinemas
  • Nakheel Mall has opened a VR-powered escape rooms venue with a board game cafe. Photo: Nakheel
    Nakheel Mall has opened a VR-powered escape rooms venue with a board game cafe. Photo: Nakheel
  • Back-to-school activities are ongoing at Dubai Hills Mall, pictured, The Dubai Mall and Dubai Marina Mall. Photo: Dubai Hills Mall
    Back-to-school activities are ongoing at Dubai Hills Mall, pictured, The Dubai Mall and Dubai Marina Mall. Photo: Dubai Hills Mall
  • Try the cannoli from Cipriani Dolci at Abu Dhabi's Marina Mall. Photo: Cipriani
    Try the cannoli from Cipriani Dolci at Abu Dhabi's Marina Mall. Photo: Cipriani
  • Anyone aged 5 and upwards can join in the Yas Mall Indoor Run this summer. Photo: Yas Mall
    Anyone aged 5 and upwards can join in the Yas Mall Indoor Run this summer. Photo: Yas Mall
  • Dubai Design District is hosting its Rethink Summer programme until August 26. Photo: Dubai Design District
    Dubai Design District is hosting its Rethink Summer programme until August 26. Photo: Dubai Design District
  • Deep Dive Dubai turned one in July.
    Deep Dive Dubai turned one in July.
  • The Mohammed bin Rashid Library spans seven storeys. EPA
    The Mohammed bin Rashid Library spans seven storeys. EPA
  • Adnec's Abu Dhabi Summer Sports is the biggest event of its kind in the Middle East. Photo: Abu Dhabi Summer Sports / Instagram
    Adnec's Abu Dhabi Summer Sports is the biggest event of its kind in the Middle East. Photo: Abu Dhabi Summer Sports / Instagram
  • A summer camp will be held indoors at the WB Abu Dhabi hotel.
    A summer camp will be held indoors at the WB Abu Dhabi hotel.
  • Ice Bar at The London Project on Bluewaters, Dubai. Chris Whiteoak / The National
    Ice Bar at The London Project on Bluewaters, Dubai. Chris Whiteoak / The National
  • Splatter Rooms in Abu Dhabi offers freewheeling art sessions for children and adults. Photo: Splatter Rooms
    Splatter Rooms in Abu Dhabi offers freewheeling art sessions for children and adults. Photo: Splatter Rooms
  • Ripe Market will be held indoors at Golden Mile Galleria and Circle Mall in Dubai this summer.
    Ripe Market will be held indoors at Golden Mile Galleria and Circle Mall in Dubai this summer.
  • Yas Island has a Kids Go Free offer this summer, which includes accommodation, food and access to its theme parks for children under 12. Photo: Ferrari World
    Yas Island has a Kids Go Free offer this summer, which includes accommodation, food and access to its theme parks for children under 12. Photo: Ferrari World
  • Saray spa at Marriott Al Forsan Abu Dhabi has discounts of up to 50 per cent this summer.
    Saray spa at Marriott Al Forsan Abu Dhabi has discounts of up to 50 per cent this summer.
  • Abu Dhabi Mall's Boxed In - Think In is the latest escape room to open in the capital. Photo: Boxed In - Think In
    Abu Dhabi Mall's Boxed In - Think In is the latest escape room to open in the capital. Photo: Boxed In - Think In
  • The Green Planet, Dubai, has an overnight camping experience. Chris Whiteoak / The National
    The Green Planet, Dubai, has an overnight camping experience. Chris Whiteoak / The National
  • The National Aquarium in Al Qana, Abu Dhabi, is home to 46,000 creatures and 300 species. Khushnum Bhandari / The National
    The National Aquarium in Al Qana, Abu Dhabi, is home to 46,000 creatures and 300 species. Khushnum Bhandari / The National
  • The Storm Coaster in Dubai Hills Mall is the fastest indoor roller coaster in the world. Photo: Emaar
    The Storm Coaster in Dubai Hills Mall is the fastest indoor roller coaster in the world. Photo: Emaar
  • Museum of the Future in Dubai requires visitors to book tickets well in advance. Chris Whiteoak / The National
    Museum of the Future in Dubai requires visitors to book tickets well in advance. Chris Whiteoak / The National
  • Central Yas Bay in Abu Dhabi has arcade games and bowling alleys. Victor Besa / The National
    Central Yas Bay in Abu Dhabi has arcade games and bowling alleys. Victor Besa / The National
  • Dubai Sports World offers indoor courts for padel, a popular sport in the UAE. Chris Whiteoak / The National
    Dubai Sports World offers indoor courts for padel, a popular sport in the UAE. Chris Whiteoak / The National
  • Theatre of Digital Art in Dubai is hosting a Digital Extravaganza exhibition led by Synti, a 3D holographic figure. Photo: Theatre of Digital Art
    Theatre of Digital Art in Dubai is hosting a Digital Extravaganza exhibition led by Synti, a 3D holographic figure. Photo: Theatre of Digital Art
  • Viking restaurant in Ajman is a cool new spot that will take you back in time. Photo: Viking
    Viking restaurant in Ajman is a cool new spot that will take you back in time. Photo: Viking
  • The Galleria Al Maryah Island is hosting a new Let's Walk fitness programme. Photo: The Galleria Al Maryah Island
    The Galleria Al Maryah Island is hosting a new Let's Walk fitness programme. Photo: The Galleria Al Maryah Island
  • Dubai Summer Surprises: a number of malls will hold sales from July 1 to September 4. Photo: DFRE
    Dubai Summer Surprises: a number of malls will hold sales from July 1 to September 4. Photo: DFRE
  • RAK Animal Welfare Centre in Ras Al Khaimah is looking for people to meet, play with and adopt pets. Chris Whiteoak / The National
    RAK Animal Welfare Centre in Ras Al Khaimah is looking for people to meet, play with and adopt pets. Chris Whiteoak / The National
  • Motiongate Dubai has launched its Coolest Summer promotion. Dubai Parks and Resorts.
    Motiongate Dubai has launched its Coolest Summer promotion. Dubai Parks and Resorts.
  • Studio 14 in Dubai has a Himalayan salt wall, which is beneficial when you're working out indoors in close proximity with others. Antonie Robertson / The National
    Studio 14 in Dubai has a Himalayan salt wall, which is beneficial when you're working out indoors in close proximity with others. Antonie Robertson / The National
  • An object discovered at Deir el-Medina by the Egyptian Museum of Turin. The museum, along with Sharjah Museum Authority, has put together an interactive exhibition targeted at school children called Deir el Medina: Village of the Pharaohs’ Artists. Photo: museoegizio / Instagram
    An object discovered at Deir el-Medina by the Egyptian Museum of Turin. The museum, along with Sharjah Museum Authority, has put together an interactive exhibition targeted at school children called Deir el Medina: Village of the Pharaohs’ Artists. Photo: museoegizio / Instagram
  • Alserkal Avenue in Dubai is hosting the Eyes Wide Shut exhibition. Photo: Alserkal Avenue
    Alserkal Avenue in Dubai is hosting the Eyes Wide Shut exhibition. Photo: Alserkal Avenue
  • The Alley DXB is a glow-in-the-dark padel court in Dubai. Photo: @thealleydxb / Instagram
    The Alley DXB is a glow-in-the-dark padel court in Dubai. Photo: @thealleydxb / Instagram
  • Thunder Road restaurant in Umm Al Quwain has an indoor retail store selling speciality Italian products, from olive oil to truffle everything. Photo: Pixabay
    Thunder Road restaurant in Umm Al Quwain has an indoor retail store selling speciality Italian products, from olive oil to truffle everything. Photo: Pixabay
  • Indoor golf and entertainment lounge MyGolf Dubai is open during the summer. Photo: MyGolf Dubai
    Indoor golf and entertainment lounge MyGolf Dubai is open during the summer. Photo: MyGolf Dubai
The specs

Engine: 1.5-litre 4-cylinder petrol

Power: 154bhp

Torque: 250Nm

Transmission: 7-speed automatic with 8-speed sports option 

Price: From Dh79,600

On sale: Now

The biog

Favourite book: Men are from Mars Women are from Venus

Favourite travel destination: Ooty, a hill station in South India

Hobbies: Cooking. Biryani, pepper crab are her signature dishes

Favourite place in UAE: Marjan Island

Infobox

Western Region Asia Cup Qualifier, Al Amerat, Oman

The two finalists advance to the next stage of qualifying, in Malaysia in August

Results

UAE beat Iran by 10 wickets

Kuwait beat Saudi Arabia by eight wickets

Oman beat Bahrain by nine wickets

Qatar beat Maldives by 106 runs

Monday fixtures

UAE v Kuwait, Iran v Saudi Arabia, Oman v Qatar, Maldives v Bahrain

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Islamophobia definition

A widely accepted definition was made by the All Party Parliamentary Group on British Muslims in 2019: “Islamophobia is rooted in racism and is a type of racism that targets expressions of Muslimness or perceived Muslimness.” It further defines it as “inciting hatred or violence against Muslims”.

UAE currency: the story behind the money in your pockets
Avatar: Fire and Ash

Director: James Cameron

Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana

Rating: 4.5/5

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
Name: HyperSpace
 
Started: 2020
 
Founders: Alexander Heller, Rama Allen and Desi Gonzalez
 
Based: Dubai, UAE
 
Sector: Entertainment 
 
Number of staff: 210 
 
Investment raised: $75 million from investors including Galaxy Interactive, Riyadh Season, Sega Ventures and Apis Venture Partners
UAE v Ireland

1st ODI, UAE win by 6 wickets

2nd ODI, January 12

3rd ODI, January 14

4th ODI, January 16

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Company%20profile%20
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UAE and Russia in numbers

UAE-Russia ties stretch back 48 years

Trade between the UAE and Russia reached Dh12.5 bn in 2018

More than 3,000 Russian companies are registered in the UAE

Around 40,000 Russians live in the UAE

The number of Russian tourists travelling to the UAE will increase to 12 percent to reach 1.6 million in 2023

ENGLAND%20SQUAD
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The%C2%A0specs%20
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CREW
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Updated: August 01, 2022, 6:17 AM