Every year, the Dubai Fitness Challenge brings groups of UAE residents together for high-energy fitness sessions, notably runners and cyclists for Dubai Run and Dubai Ride. For the first time, the event added the Dubai Stand-Up Paddle to its roster of events.
Organisers reported that “up to 1,000" stand-up paddle boarders made their way to Dubai enclave Hatta on Saturday to enjoy complimentary stand-up paddle boarding sessions with a mountainous backdrop.
“The tremendous success of our first-ever Dubai Stand-Up Paddle clearly demonstrates the burgeoning enthusiasm for outdoor fitness within our community,” said Ahmed Alkhaja, chief executive of Dubai Festivals and Retail Establishment.
“This event went far beyond gathering individuals for a day of physical activity; it aimed to cultivate a lasting commitment to health and well-being while fostering an inclusive and accessible sporting culture. Such initiatives exemplify Dubai's vibrant and forward-thinking approach to integrating inclusive fitness into the urban lifestyles of our community.
“We aspire to inspire residents and visitors alike to embrace an active lifestyle that extends far beyond the Dubai Fitness Challenge.”
Hatta Kayak hosted the water sports enthusiasts at the event, which comprised training sessions, a mass participation challenge and sunset SUP yoga classes.
The training sessions were 30-minute slots open to anyone aged five and above, of any skill level.
For the challenge, participants navigated a dedicated paddle boarding course – either on their own stand-up paddle boards or using borrowed equipment from Hatta Kayak, which was available free of charge – and received a certificate upon completion.
For a moment of Zen, there were two sunset yoga sessions, also held on boards and run by expert instructors in the centre of the dam's waters.
Hatta is located approximately one hour and 30 minutes away from Downtown Dubai by car – the Roads and Transport Authority (RTA) ran a complimentary shuttle service for participants.
The Dubai Fitness Challenge is an initiative of Sheikh Hamdan bin Mohammed, Crown Prince of Dubai. Now in its seventh year, it runs annually in October and November to encourage participants to take part in 30 minutes of exercise daily, for 30 days.
The 2023 challenge runs until next Sunday and will culminate in the Dubai Run on the final day.
Participants can choose between a 5km or 10km route at the event, which takes over part of the 14-lane Sheikh Zayed Road for a few hours. This year, organisers are hoping to attract more than 200,000 runners, surpassing last year's 193,000 total.
The 5km route begins near the Museum of the Future. It then passes Burj Khalifa and Dubai Opera and ends near Dubai Mall. It is a flat route suitable for runners of all ages and abilities.
The 10km route will also begin near the Museum of the Future, going along Sheikh Zayed Road to the Dubai Water Canal, then returning towards the World Trade Centre before ending on Al Mustaqbal Street near Dubai International Financial Centre. This route is suitable for more experienced runners.
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.”
Fireball
Moscow claimed it hit the largest military fuel storage facility in Ukraine, triggering a huge fireball at the site.
A plume of black smoke rose from a fuel storage facility in the village of Kalynivka outside Kyiv on Friday after Russia said it had destroyed the military site with Kalibr cruise missiles.
"On the evening of March 24, Kalibr high-precision sea-based cruise missiles attacked a fuel base in the village of Kalynivka near Kyiv," the Russian defence ministry said in a statement.
Ukraine confirmed the strike, saying the village some 40 kilometres south-west of Kyiv was targeted.
If you go
The flights
Etihad (etihad.com) flies from Abu Dhabi to Luang Prabang via Bangkok, with a return flight from Chiang Rai via Bangkok for about Dh3,000, including taxes. Emirates and Thai Airways cover the same route, also via Bangkok in both directions, from about Dh2,700.
The cruise
The Gypsy by Mekong Kingdoms has two cruising options: a three-night, four-day trip upstream cruise or a two-night, three-day downstream journey, from US$5,940 (Dh21,814), including meals, selected drinks, excursions and transfers.
The hotels
Accommodation is available in Luang Prabang at the Avani, from $290 (Dh1,065) per night, and at Anantara Golden Triangle Elephant Camp and Resort from $1,080 (Dh3,967) per night, including meals, an activity and transfers.
COMPANY PROFILE
Name: Kumulus Water
Started: 2021
Founders: Iheb Triki and Mohamed Ali Abid
Based: Tunisia
Sector: Water technology
Number of staff: 22
Investment raised: $4 million
