Things to do in the UAE this week, from a gyrocopter flight to a Korean film festival

Another month, another set of events to mark in your summer calendar. From flying over Dubai in a gyrocopter to celebrity chef meals ranging from Dh1,500 to Dh15,000, this week is all about fun and flamboyant adventures.

Here, The National rounds up seven things to do around the Emirates, from July 1 to 7.

Monday, July 1

Three of Dubai's best chefs are joining hands to serve a 17-course tasting menu on Monday.

British chef Jason Atherton will host the haute cuisine evening at his fine dining restaurant Row on 45 in Dubai Marina, and he is joined by chef Mohamad Orfali, of Orfali Bros fame, and chef Gregoire Berger, the culinary mastermind behind Michelin-starred Ossiano.

The six-hands dining experience, which is limited to 22 guests, will feature nine dishes from Atherton, and four each from Berger and Orfali. Dishes include bafun uni with Norwegian langoustine custard and Hokkaido scallop, blue lobster and artichoke and koji grilled eggplant with caramelised Jerusalem artichoke puree covered in seaweed jus.

July 1; 7.15pm onwards; from Dh1,545 per person; Grosvenor House, a Luxury Collection Hotel, Dubai Marina; 056 832 4545

Tuesday, July 2

Thrillseekers can head to Skydive Dubai, which is offering summer deals to experience its gyrocopter rides at a discounted price.

Skyhub Gyrocopter is offering a 20 per cent discount on all flights booked between June 10 and September 30. The flights, aboard the two-seater aircraft, flies to heights of 1,500 feet offering breathtaking views of Dubai and its landmarks. A valid Emirates ID is required to receive the resident discount

Thursday-Monday; 6.30am to 8.30am; Dubai Marina; skydivedubai.ae

Wednesday, July 3

The Link at One&Only One Za’abeel is hosting a one-off meal in a hidden dining room with a glass floor, suspended at one end of the cantilever, which soars 100 metres above Dubai.

Five chefs are plating up exquisite dishes for the six-course feast, including decorated French chef Anne-Sophie Pic, Spanish chef Paco Morales of Noor fame, Japanese chef Tetsuya Wakuda, husband-wife duo chefs Bo Songvisava and Dylan Jones, Turkish chef Mehmet Gurs and Dabiz Munoz, winner of the World's Best Chef award three times in a row.

The evening begins with a welcome drink at The Link's bar, Sphere, where canapes will be passed around while a DJ spins beats. The guests will then be taken to the Infinity Room, where the chefs themselves will finish each course tableside. The dinner costs a staggering Dh15,000 per person, and includes gifts from The Link.

July 3; 7pm onwards; Dh15,000 per person; Za’abeel 1, Dubai; 04 666 1617

Thursday, July 4

The 8th Korean Film Festival begins on Thursday with eight Korean films in the line-up, all centred around the theme “freedom”.

The festival will kick off with 2023 biographical sports film Road to Boston, which tells the story of Korean athletes embarking on an inspirational journey to race in the 1947 Boston International Marathon amid escaping Japanese oppression in the Second World War.

Other films in the line-up include historical war action film Noryang: Deadly Sea, animated Pororo Movie: Dragon Castle Adventure, and black comedy horror-mystery Sleep.

Until Sunday; various timings; Dh35 per film; Vox Cinemas across Dubai and Abu Dhabi; k-filmfest2024.splashthat.com

Friday, July 5

Head to Jumeirah Zabeel Saray for the opening of the 2024 Symphonic Middle East Festival.

Friday's show features ST-Duo, known for their two-piano arrangements. They are performing a repertoire that spans centuries, from classical masterpieces to contemporary compositions. Accompanying the piano performance is an Argentinian tango couple for a masterful fusion of musicianship and dance.

July 5; 8pm; from Dh200; Palm Jumeirah, Dubai; tickets.virginmegastore.me

Saturday, July 6

Interested in seeing social media stars knock each other out in a boxing ring? Head to Coca-Cola Arena on Saturday.

Tajikistani singer Abdu Rozik is in the roster, taking on internet personality Erali Boyqobilov. One of UAE's top YouTubers Mo Vlogs is also part of the comedic affair, followed by a performance by British rapper Stefflon Don.

July 6; 7pm; from Dh150; Coca-Cola Arena, Dubai; coca-cola-arena.com

Sunday, July 7

Modesh World is open until August 18. Photo: Modesh World

Take the little ones to Modesh World, which has returned to Dubai World Trade Centre for the summer season. The indoor entertainment venue boasts 170 attractions, as well as more than 100 arcade games and virtual reality experiences, arts and craft workshops, soft play areas and more.

New this year is an inflatable park with nine zones for varying age groups, as well as the educational, zoo-themed Animals World Play Area.

Rides, games and attractions aside, there are daily live shows, as well as more than 20 dining options including the themed Modesh Cafe.

Until August 18; 10am-10pm on Mondays to Thursday, 10am-midnight on Friday to Sunday; free entry; Dubai World Trade Centre; 600 555 559

Who was Alfred Nobel?

The Nobel Prize was created by wealthy Swedish chemist and entrepreneur Alfred Nobel.

In his will he dictated that the bulk of his estate should be used to fund "prizes to those who, during the preceding year, have conferred the greatest benefit to humankind".
Nobel is best known as the inventor of dynamite, but also wrote poetry and drama and could speak Russian, French, English and German by the age of 17. The five original prize categories reflect the interests closest to his heart.
Nobel died in 1896 but it took until 1901, following a legal battle over his will, before the first prizes were awarded.

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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.”