It's a particularly busy week for UAE residents with the return of annual celebrations, events and festivals, including Chinese New Year and the Emirates Airline Festival of Literature. In Abu Dhabi, Al Hosn is hosting a heritage-focused event and there's also a three-day wellness meet-up.
Here, The National rounds up seven things to do around the Emirates, from January 27 to February 2.
Monday, January 27: Al Hosn Festival
Head to Al Hosn cultural site in Abu Dhabi for a dose of Emirati heritage. The venue is celebrating Al Hosn Festival with a packed programme running until February 9. Souqs, children's workshops, traditional shows and art exhibitions are on the cards, spread across three zones: heritage, crafts and community.
Food and drinks spots are also available via a handful of pop-ups from home-grown and up-and-coming brands such as Flat Burger, Munch, Noodle Box and Hotdog Bar.
Daily, 4pm-11pm; from Dh35; until February 9; Al Hosn, Abu Dhabi; 02 697 6400
Tuesday, January 28: Chinese New Year
Chinese restaurant Zheng He's at Jumeirah Mina Al Salam is celebrating Chinese New Year with a curated menu courtesy of chef Wong Lian You. Highlights include cod, egg white dumplings, poached clay pot chicken with Sichuan pepper sauce and hand-rolled vegetarian rice rolls.
The menu is available until February 9 and the restaurant will host a lion dance troupe, performing against the backdrop of Burj Al Arab, on Tuesday and Wednesday. Other Chinese New Year-themed menus in Dubai and Abu Dhabi are available here.
Daily, 12.30pm-10.30pm; a la carte; February 9; Umm Suqeim 3, Dubai; 800 323232
Wednesday, January 29: Emirates Airline Festival of Literature
Literary buffs can head to InterContinental Dubai Festival City for the return of the annual Emirates Airline Festival of Literature. The event gathers award-winning writers and speakers to conduct author talks, panel discussions and workshops.
Among the renowned names attending is American writer and physician Abraham Verghese, whose 2023 novel The Covenant of Water was selected as part of Oprah's Book Club and was in The New York Times bestseller list for 37 weeks.
Other names on the agenda include Booker Prize-nominated Nigerian author Chigozie Obioma, Emmy Award-winning journalist Hala Gorani, Tanzanian-British novelist and academic Abdulrazak Gurnah and Palestinian chef and cookbook author Fadi Kattan.
Some events are free of charge, and others go up to Dh2,000 per person.
Times vary, beginning on Wednesday and running until Monday; Dubai Festival City; 054 349 8508
Thursday, January 30: RollDXB Sharjah pop-up
RollDXB will be at City Centre Al Zahia in Sharjah until the end of February. The pop-up indoor rink is open to all skill levels and will feature special events, themed nights and dynamic classes for children and adults.
Monday to Wednesday, 10am-10pm, Thursday to Sunday, 10am-midnight; from Dh90; until February 28; Al Zahia, Sharjah; 058 006 868
Friday, January 31: Afghan supper club
A supper club at the Afghan restaurant Kishmish in Dar Wasl Mall will run under the theme Tahchin Nights. Tahchin, derived from the Farsi words tah (bottom) and chin (to layer), is a rice cake made with yoghurt, saffron and aromatic spices. The crust is made crispy by scorching, while the layers are traditionally filled with chicken or meat.
The restaurant's chef-founder Iman Nazemi will showcase her roots by creating different tahchin dishes, including the traditional saffron-infused tachchin with barberries, almonds and pistachios, as well as one layered with chicken in a saffron-onion gravy.
Friday, from 7.30pm; Dh195 per person; Al Wasl Road, Dubai; 050 426 1663
Saturday, February 1: Kayan Wellness Festival
Global wellness experts will be taking to the shores of Fahid Island in Abu Dhabi for Kayan Wellness Festival. Talks and immersive wellness sessions will be part of the programme. Big-name guests include renowned biohacker and human biologist Gary Brecka, acclaimed therapist and author Marisa Peer and physician and holistic thought leader Zach Bush.
Guests can visit the body zone for workshops and fitness sessions, while the soul space will feature meditation and sound healing.
Friday to Sunday, from 10am; from Dh75; Fahid Island, Abu Dhabi; kayanwellnessfestival.com
Sunday, February 2: Motoring-themed picnic
Make Sunday family day at the Grand Picnic at Safa Park, where there will be displays of stunning and quirky cars and motorbikes, as well as live music and a host of food and drinks pop-ups. A series of other car-related activities will be held on-site, too, including themed arts and crafts for children, as well as live demos.
Sunday, 10am-6pm; free; Safa Park, Dubai; thegrandpicnic.ae
GAC GS8 Specs
Engine: 2.0-litre 4cyl turbo
Power: 248hp at 5,200rpm
Torque: 400Nm at 1,750-4,000rpm
Transmission: 8-speed auto
Fuel consumption: 9.1L/100km
On sale: Now
Price: From Dh149,900
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Specs
Engine: 51.5kW electric motor
Range: 400km
Power: 134bhp
Torque: 175Nm
Price: From Dh98,800
Available: Now
FIXTURES
All times UAE ( 4 GMT)
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Petrofac issues a business update to execute the restructuring and confirms it will appeal the Court of Appeal decision
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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.”
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Ibrahim's play list
Completed an electrical diploma at the Adnoc Technical Institute
Works as a public relations officer with Adnoc
Apart from the piano, he plays the accordion, oud and guitar
His favourite composer is Johann Sebastian Bach
Also enjoys listening to Mozart
Likes all genres of music including Arabic music and jazz
Enjoys rock groups Scorpions and Metallica
Other musicians he likes are Syrian-American pianist Malek Jandali and Lebanese oud player Rabih Abou Khalil
