• Barry's Bootcamp is opening its first branch in Abu Dhabi. All photos: Barry's Bootcamp
    Barry's Bootcamp is opening its first branch in Abu Dhabi. All photos: Barry's Bootcamp
  • The studio will open at The Galleria Al Maryah Island in September.
    The studio will open at The Galleria Al Maryah Island in September.
  • In the Red Room guests alternative between the treadmill and floor work.
    In the Red Room guests alternative between the treadmill and floor work.
  • Lift classes will last 50 minutes.
    Lift classes will last 50 minutes.
  • The studio will have a Fuel Bar.
    The studio will have a Fuel Bar.
  • Two main types of workouts will be offered: high-intensity interval training and a slow-paced lift class.
    Two main types of workouts will be offered: high-intensity interval training and a slow-paced lift class.

Barry's to open first branch in Abu Dhabi in September


Katy Gillett
  • English
  • Arabic

Globally renowned fitness studio Barry’s, formerly known as Barry's Bootcamp, is opening its first branch in Abu Dhabi — its fourth location in the UAE.

The new venue is planned to open on level one of The Galleria Al Maryah Island on September 3.

The high-intensity workout brand has been known for years as a celebrity favourite, counting A-listers such as Kim Kardashian, David and Victoria Beckham, Jessica Alba, Jake Gyllenhaal and Harry Styles among its clientele.

In the capital, there will be a Red Room offering the traditional HIIT workout, alternating between the treadmill and floor work, while Lift in the Flex Lounge is designed for a more strength-based session. It’s a 50-minute class that deviates from the standard Barry’s routines, as it offers participants the chance to lift heavier at a slower pace.

Classes will run seven days a week, with special themed options on offer, too, including ladies-only sessions, as well as those with live DJ sets and challenges.

There is also a Barry’s Fuel Bar serving more than 20 shakes and grab-and-go items that are designed to help build muscle and aid recovery after a gruelling workout.

Fans can also pick up some merchandise at the Abu Dhabi spot, as the brand’s exclusive capsule collections and localised pieces are there to buy.

Barry's Bootcamp opened in the Dubai International Financial Centre in 2017 and it has since expanded to Dubai Marina. At the time, it was the first in the Middle East and the 26th globally.

Today, there is also a venue in Qatar and more than 70 studios across the world.

More information is at www.barrys.com

35 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
GIANT REVIEW

Starring: Amir El-Masry, Pierce Brosnan

Director: Athale

Rating: 4/5

Specs
%3Cp%3E%3Cstrong%3EEngine%3A%3C%2Fstrong%3E%201.5-litre%20turbo%204-cylinder%20%2F%202.0%20turbo%204-cylinder%20(S3)%0D%3Cbr%3E%3Cstrong%3EPower%3A%3C%2Fstrong%3E%20148bhp%20%2F%20328bhp%20(S3)%0D%3Cbr%3E%3Cstrong%3ETorque%3A%3C%2Fstrong%3E%20250Nm%20%2F%20420Nm%20(S3)%0D%3Cbr%3E%3Cstrong%3EOn%20sale%3A%3C%2Fstrong%3E%20December%0D%3Cbr%3E%3Cstrong%3EPrice%3A%3C%2Fstrong%3E%20TBA%0D%3C%2Fp%3E%0A
Women%E2%80%99s%20T20%20World%20Cup%20Qualifier
%3Cp%3EFrom%20September%2018-25%2C%20Abu%20Dhabi%0D.%20The%20two%20finalists%20advance%20to%20the%20main%20event%20in%20South%20Africa%20in%20February%202023%0D%3Cbr%3E%20%0D%3Cbr%3EGroup%20A%3A%20United%20States%2C%20Ireland%2C%20Scotland%2C%20Bangladesh%0D%3Cbr%3EGroup%20B%3A%20UAE%2C%20Thailand%2C%20Zimbabwe%2C%20Papua%20New%20Guinea%0D%3Cbr%3E%20%0D%3Cbr%3EUAE%20group%20fixtures%3A%0D%3Cbr%3ESept%2018%2C%203pm%2C%20Zayed%20Cricket%20Stadium%20%E2%80%93%20UAE%20v%20Thailand%0D%3Cbr%3ESept%2019%2C%203pm%2C%20Tolerance%20Oval%20-%20PNG%20v%20UAE%0D%3Cbr%3ESept%2021%2C%207pm%2C%20Tolerance%20Oval%20%E2%80%93%20UAE%20v%20Zimbabwe%0D%3Cbr%3E%20%0D%3Cbr%3EUAE%20squad%3A%20Chaya%20Mughal%20(captain)%2C%20Esha%20Oza%2C%20Kavisha%20Kumari%2C%20Rinitha%20Rajith%2C%20Rithika%20Rajith%2C%20Khushi%20Sharma%2C%20Theertha%20Satish%2C%20Lavanya%20Keny%2C%20Priyanjali%20Jain%2C%20Suraksha%20Kotte%2C%20Natasha%20Cherriath%2C%20Indhuja%20Nandakumar%2C%20Vaishnave%20Mahesh%2C%20Siya%20Gokhale%2C%20Samaira%20Dharnidharka%0D%3C%2Fp%3E%0A
Company profile

Company name: Dharma

Date started: 2018

Founders: Charaf El Mansouri, Nisma Benani, Leah Howe

Based: Abu Dhabi

Sector: TravelTech

Funding stage: Pre-series A 

Investors: Convivialite Ventures, BY Partners, Shorooq Partners, L& Ventures, Flat6Labs

AndhaDhun

Director: Sriram Raghavan

Producer: Matchbox Pictures, Viacom18

Cast: Ayushmann Khurrana, Tabu, Radhika Apte, Anil Dhawan

Rating: 3.5/5

Top 5 concerns globally:

1. Unemployment

2. Spread of infectious diseases

3. Fiscal crises

4. Cyber attacks

5. Profound social instability

Top 5 concerns in the Mena region

1. Energy price shock

2. Fiscal crises

3. Spread of infectious diseases

4. Unmanageable inflation

5. Cyber attacks

Source: World Economic Foundation

Where to donate in the UAE

The Emirates Charity Portal

You can donate to several registered charities through a “donation catalogue”. The use of the donation is quite specific, such as buying a fan for a poor family in Niger for Dh130.

The General Authority of Islamic Affairs & Endowments

The site has an e-donation service accepting debit card, credit card or e-Dirham, an electronic payment tool developed by the Ministry of Finance and First Abu Dhabi Bank.

Al Noor Special Needs Centre

You can donate online or order Smiles n’ Stuff products handcrafted by Al Noor students. The centre publishes a wish list of extras needed, starting at Dh500.

Beit Al Khair Society

Beit Al Khair Society has the motto “From – and to – the UAE,” with donations going towards the neediest in the country. Its website has a list of physical donation sites, but people can also contribute money by SMS, bank transfer and through the hotline 800-22554.

Dar Al Ber Society

Dar Al Ber Society, which has charity projects in 39 countries, accept cash payments, money transfers or SMS donations. Its donation hotline is 800-79.

Dubai Cares

Dubai Cares provides several options for individuals and companies to donate, including online, through banks, at retail outlets, via phone and by purchasing Dubai Cares branded merchandise. It is currently running a campaign called Bookings 2030, which allows people to help change the future of six underprivileged children and young people.

Emirates Airline Foundation

Those who travel on Emirates have undoubtedly seen the little donation envelopes in the seat pockets. But the foundation also accepts donations online and in the form of Skywards Miles. Donated miles are used to sponsor travel for doctors, surgeons, engineers and other professionals volunteering on humanitarian missions around the world.

Emirates Red Crescent

On the Emirates Red Crescent website you can choose between 35 different purposes for your donation, such as providing food for fasters, supporting debtors and contributing to a refugee women fund. It also has a list of bank accounts for each donation type.

Gulf for Good

Gulf for Good raises funds for partner charity projects through challenges, like climbing Kilimanjaro and cycling through Thailand. This year’s projects are in partnership with Street Child Nepal, Larchfield Kids, the Foundation for African Empowerment and SOS Children's Villages. Since 2001, the organisation has raised more than $3.5 million (Dh12.8m) in support of over 50 children’s charities.

Noor Dubai Foundation

Sheikh Mohammed bin Rashid Al Maktoum launched the Noor Dubai Foundation a decade ago with the aim of eliminating all forms of preventable blindness globally. You can donate Dh50 to support mobile eye camps by texting the word “Noor” to 4565 (Etisalat) or 4849 (du).

Greatest of All Time
Starring: Vijay, Sneha, Prashanth, Prabhu Deva, Mohan
Director: Venkat Prabhu
Rating: 2/5
Key facilities
  • Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
  • Premier League-standard football pitch
  • 400m Olympic running track
  • NBA-spec basketball court with auditorium
  • 600-seat auditorium
  • Spaces for historical and cultural exploration
  • An elevated football field that doubles as a helipad
  • Specialist robotics and science laboratories
  • AR and VR-enabled learning centres
  • Disruption Lab and Research Centre for developing entrepreneurial skills
Expert advice

“Join in with a group like Cycle Safe Dubai or TrainYAS, where you’ll meet like-minded people and always have support on hand.”

Stewart Howison, co-founder of Cycle Safe Dubai and owner of Revolution Cycles

“When you sweat a lot, you lose a lot of salt and other electrolytes from your body. If your electrolytes drop enough, you will be at risk of cramping. To prevent salt deficiency, simply add an electrolyte mix to your water.”

Cornelia Gloor, head of RAK Hospital’s Rehabilitation and Physiotherapy Centre 

“Don’t make the mistake of thinking you can ride as fast or as far during the summer as you do in cooler weather. The heat will make you expend more energy to maintain a speed that might normally be comfortable, so pace yourself when riding during the hotter parts of the day.”

Chandrashekar Nandi, physiotherapist at Burjeel Hospital in Dubai
 

JOKE'S%20ON%20YOU
%3Cp%3EGoogle%20wasn't%20new%20to%20busting%20out%20April%20Fool's%20jokes%3A%20before%20the%20Gmail%20%22prank%22%2C%20it%20tricked%20users%20with%20%3Ca%20href%3D%22https%3A%2F%2Farchive.google%2Fmentalplex%2F%22%20target%3D%22_blank%22%3Emind-reading%20MentalPlex%20responses%3C%2Fa%3E%20and%20said%3Ca%20href%3D%22https%3A%2F%2Farchive.google%2Fpigeonrank%2F%22%20target%3D%22_blank%22%3E%20well-fed%20pigeons%20were%20running%20its%20search%20engine%20operations%3C%2Fa%3E%20.%3C%2Fp%3E%0A%3Cp%3EIn%20subsequent%20years%2C%20they%20announced%20home%20internet%20services%20through%20your%20toilet%20with%20its%20%22%3Ca%20href%3D%22https%3A%2F%2Farchive.google%2Ftisp%2Finstall.html%22%20target%3D%22_blank%22%3Epatented%20GFlush%20system%3C%2Fa%3E%22%2C%20made%20us%20believe%20the%20Moon's%20surface%20was%20made%20of%20cheese%20and%20unveiled%20a%20dating%20service%20in%20which%20they%20called%20founders%20Sergey%20Brin%20and%20Larry%20Page%20%22%3Ca%20href%3D%22https%3A%2F%2Farchive.google%2Fromance%2Fpress.html%22%20target%3D%22_blank%22%3EStanford%20PhD%20wannabes%3C%2Fa%3E%20%22.%3C%2Fp%3E%0A%3Cp%3EBut%20Gmail%20was%20all%20too%20real%2C%20purportedly%20inspired%20by%20one%20%E2%80%93%20a%20single%20%E2%80%93%20Google%20user%20complaining%20about%20the%20%22poor%20quality%20of%20existing%20email%20services%22%20and%20born%20%22%3Ca%20href%3D%22https%3A%2F%2Fgooglepress.blogspot.com%2F2004%2F04%2Fgoogle-gets-message-launches-gmail.html%22%20target%3D%22_blank%22%3Emillions%20of%20M%26amp%3BMs%20later%3C%2Fa%3E%22.%3C%2Fp%3E%0A
The%20specs
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Heather, the Totality
Matthew Weiner,
Canongate 

What are the influencer academy modules?
  1. Mastery of audio-visual content creation. 
  2. Cinematography, shots and movement.
  3. All aspects of post-production.
  4. Emerging technologies and VFX with AI and CGI.
  5. Understanding of marketing objectives and audience engagement.
  6. Tourism industry knowledge.
  7. Professional ethics.

Anghami
Started: December 2011
Co-founders: Elie Habib, Eddy Maroun
Based: Beirut and Dubai
Sector: Entertainment
Size: 85 employees
Stage: Series C
Investors: MEVP, du, Mobily, MBC, Samena Capital

While you're here
'Cheb%20Khaled'
%3Cp%3E%3Cstrong%3EArtist%3A%20%3C%2Fstrong%3EKhaled%3Cbr%3E%3Cstrong%3ELabel%3A%20%3C%2Fstrong%3EBelieve%3Cbr%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%204%2F5%3C%2Fp%3E%0A
Avatar: Fire and Ash

Director: James Cameron

Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana

Rating: 4.5/5

Know your Camel lingo

The bairaq is a competition for the best herd of 50 camels, named for the banner its winner takes home

Namoos - a word of congratulations reserved for falconry competitions, camel races and camel pageants. It best translates as 'the pride of victory' - and for competitors, it is priceless

Asayel camels - sleek, short-haired hound-like racers

Majahim - chocolate-brown camels that can grow to weigh two tonnes. They were only valued for milk until camel pageantry took off in the 1990s

Millions Street - the thoroughfare where camels are led and where white 4x4s throng throughout the festival

AT%20A%20GLANCE
%3Cp%3E%3Cstrong%3EWindfall%3C%2Fstrong%3E%3Cbr%3EAn%20%E2%80%9Cenergy%20profits%20levy%E2%80%9D%20to%20raise%20about%20%C2%A35%20billion%20in%20a%20year.%20The%20temporary%20one-off%20tax%20will%20hit%20oil%20and%20gas%20firms%20by%2025%20per%20cent%20on%20extraordinary%20profits.%20An%2080%20per%20cent%20investment%20allowance%20should%20calm%20Conservative%20nerves%20that%20the%20move%20will%20dent%20North%20Sea%20firms%E2%80%99%20investment%20to%20save%20them%2091p%20for%20every%20%C2%A31%20they%20spend.%3Cbr%3E%3Cstrong%3EA%20universal%20grant%3C%2Fstrong%3E%3Cbr%3EEnergy%20bills%20discount%2C%20which%20was%20effectively%20a%20%C2%A3200%20loan%2C%20has%20doubled%20to%20a%20%C2%A3400%20discount%20on%20bills%20for%20all%20households%20from%20October%20that%20will%20not%20need%20to%20be%20paid%20back.%3Cbr%3E%3Cstrong%3ETargeted%20measures%3C%2Fstrong%3E%3Cbr%3EMore%20than%20eight%20million%20of%20the%20lowest%20income%20households%20will%20receive%20a%20%C2%A3650%20one-off%20payment.%20It%20will%20apply%20to%20households%20on%20Universal%20Credit%2C%20Tax%20Credits%2C%20Pension%20Credit%20and%20legacy%20benefits.%3Cbr%3ESeparate%20one-off%20payments%20of%20%C2%A3300%20will%20go%20to%20pensioners%20and%20%C2%A3150%20for%20those%20receiving%20disability%20benefits.%3C%2Fp%3E%0A
The Gandhi Murder
  • 71 - Years since the death of MK Gandhi, also christened India's Father of the Nation
  • 34 - Nationalities featured in the film The Gandhi Murder
  • 7 - million dollars, the film's budget 
Key findings
  • Over a period of seven years, a team of scientists analysed dietary data from 50,000 North American adults.
  • Eating one or two meals a day was associated with a relative decrease in BMI, compared with three meals. Snacks count as a meal. Likewise, participants who ate more than three meals a day experienced an increase in BMI: the more meals a day, the greater the increase. 
  • People who ate breakfast experienced a relative decrease in their BMI compared with “breakfast-skippers”. 
  • Those who turned the eating day on its head to make breakfast the biggest meal of the day, did even better. 
  • But scrapping dinner altogether gave the best results. The study found that the BMI of subjects who had a long overnight fast (of 18 hours or more) decreased when compared even with those who had a medium overnight fast, of between 12 and 17 hours.

Dark Souls: Remastered
Developer: From Software (remaster by QLOC)
Publisher: Namco Bandai
Price: Dh199

The specs
  • Engine: 3.9-litre twin-turbo V8
  • Power: 640hp
  • Torque: 760nm
  • On sale: 2026
  • Price: Not announced yet

Engine: 80 kWh four-wheel-drive

Transmission: eight-speed automatic

Power: 402bhp

Torque: 760Nm

Price: From Dh280,000

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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Updated: August 22, 2022, 1:30 PM