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
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
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
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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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
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CREW
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