• Sultan Barkouk complex. Walk Like An Egyptian offers cultural tourism walking tours of Egypt's hidden gems. All photos taken by Nada El Sawy / The National
    Sultan Barkouk complex. Walk Like An Egyptian offers cultural tourism walking tours of Egypt's hidden gems. All photos taken by Nada El Sawy / The National
  • Sultan Qatbey complex graffiti of Umm Kulthum, a stop on a tour by Walk Like An Egyptian.
    Sultan Qatbey complex graffiti of Umm Kulthum, a stop on a tour by Walk Like An Egyptian.
  • Sultan Barkouk complex, a stop on a tour by Walk Like An Egyptian.
    Sultan Barkouk complex, a stop on a tour by Walk Like An Egyptian.
  • Sultan Inal and Emir Qurqumas funerary complex, a stop on a tour by Walk Like An Egyptian.
    Sultan Inal and Emir Qurqumas funerary complex, a stop on a tour by Walk Like An Egyptian.
  • A traditional glass maker, seen while on a tour by Walk Like An Egyptian.
    A traditional glass maker, seen while on a tour by Walk Like An Egyptian.
  • Martyrs street, a stop on a tour by Walk Like An Egyptian.
    Martyrs street, a stop on a tour by Walk Like An Egyptian.
  • Polish artist graffiti Franek Mysza, a stop on a tour by Walk Like An Egyptian.
    Polish artist graffiti Franek Mysza, a stop on a tour by Walk Like An Egyptian.

Egypt's walking tours and hidden gems: these are the people trying to shake up the country's tourism industry


Nada El Sawy
  • English
  • Arabic

The typical tourist visiting Egypt will usually see the bucket-list sites: the Pyramids of Giza, the Egyptian Museum, the Citadel and Khan El Khalili bazaar in Cairo, followed by a Luxor and Aswan Nile cruise.

"In the last 100 years, tourism in Egypt hasn't changed, which is shocking," says Egyptian Asmaa Khattab. "The programmes are the same and people have just been doing copy-paste."

But a young generation of Egyptians in the tourism industry is trying to change all that, by highlighting the country’s hidden gems for locals and foreign tourists alike.

“I felt like I wanted people to see the real Egypt,” says Khattab, 35, who founded the walking tours group Walk Like An Egyptian in 2015.

Sultan Barkouk complex. Walk Like An Egyptian offers cultural tourism walking tours of Egypt's hidden gems. All photos taken by Nada El Sawy / The National
Sultan Barkouk complex. Walk Like An Egyptian offers cultural tourism walking tours of Egypt's hidden gems. All photos taken by Nada El Sawy / The National

Omar Attia had a similar goal in mind when he started the Instagram page Around Egypt in 60 Days in 2017, documenting his travels with his wife Dalia Debaiky in 27 governorates throughout the country.

“We need to be aware of all the touristic and historical attractions that this country embraces, because we as locals eventually become ambassadors of our own country’s tourism,” says Attia, 33.

What brought me to Egypt is the Pyramids. What keeps bringing me back is the people and there are just so many things to see

It is a boost that is much needed as the Covid-19 pandemic has dealt a blow to tourism in Egypt, an industry that on average accounts for about 12 per cent of its gross domestic product. The country hosted 3.6 million travellers in 2020, down from 13 million in 2019.

The Pharaohs' Golden Parade in April, which transported 22 mummies to the National Museum of Egyptian Civilisation, signalled to the world that Egypt is open to visitors. Meanwhile, several palaces and museums have recently reopened following renovations, and the Grand Egyptian Museum is scheduled to debut later this year.

“We have so many things and places to see in Egypt. Our history is not only very long – it is reflected in a lot of different ways,” Khattab says.

Walk Like An Egyptian

Walk Like An Egyptian offers cultural tourism tours exploring the City of the Dead, Moez Street and downtown Cairo, as well as longer trips outside the city, including Quseir, Hurghada, Alexandria and Sinai.

Khattab began her career as a tour guide, inspired by her love of history and her outgoing personality. She studied tourism and hotel management at Helwan University, where Khaled El Anany, now the minister of tourism and antiquities, was teaching at the time.

After graduating in 2006, she was happy to work as a tour guide, but was “shocked at the state of tourism in Egypt”. She found companies were mainly focused on mass tourism and were “always thinking of ways to save money, rather than improve quality”.

A lull in tourism following the 2011 revolution that removed then-president Hosni Mubarak from power gave Khattab the chance to reflect. She started a Facebook page in 2012 to share tips and off-the-beaten-track places to see. “I was just sharing my passion about Egypt,” she says.

In 2013, she started doing cycling tours with friends to visit places such as the Ahmed Shawki Museum in Giza and even the pyramids, “but cycling in the Cairo streets is not the most pleasant … and it was a bit of hassle”.

It was not until January 2015, after years of doing her own tours for friends, that Khattab started the first walking tour. Now, Walk Like An Egyptian has earned a TripAdvisor Certificate of Excellence four years in a row since 2017.

What sets her tours apart is Khattab carefully selects the guides to ensure the best quality, and they include places that are inaccessible or unknown to the public. For example, during its tour of City of the Dead – an area that contains both common graves and elaborate mausoleums of historical rulers and elites – “walkis”, as they call them, were able to see the private family grave of Shivakiar Ibrahim, an Egyptian princess who married King Fuad in 1895.

Elsewhere, the downtown Cairo tour features access to the Adly Street Synagogue, which was established in 1899.

Asmaa Khattab founded Walk Like An Egyptian in 2015. Nada El Sawy / The National
Asmaa Khattab founded Walk Like An Egyptian in 2015. Nada El Sawy / The National

“We always add something authentic to the tour,” says tour guide Nesrine Mahfouz, 53. “We want our walkis to interact with people and see another side of Egypt.”

American Jennifer Bean, 60, was on her fourth trip to Egypt when she booked the City of the Dead tour. Previously, she had been to Cairo, Luxor, Aswan, Fayoum, the Red Sea and the Mediterranean. “This is the next layer,” says Bean, a software developer from North Carolina. “What brought me to Egypt is the Pyramids. What keeps bringing me back is the people and there are just so many things to see.”

In June, tours planned include the National Museum of Egyptian Civilisation, a downtown walking tour and an exclusive visit to Abdeen Palace. Considering Covid-19 regulations, groups are limited to a capacity of 12 guests and face masks are required.

Prices range from 295 to 1,850 Egyptian pounds ($18 to $118), excluding taxes.

More information is at www.facebook.com/Walk.Like.An.Egyptian.Page

Around Egypt in 60 Days

This Instagram account has more than 41,000 followers and features photos of Attia and Debaiky's travels throughout the country.

They plan to publish a narrative picture book of their adventure later this year, following the opening of the Grand Egyptian Museum.

  • Omar Attia and Dalia Debaiky's wedding at the Prince Muhammad Ali Manial Palace. Courtesy Around Egypt in 60 Days
    Omar Attia and Dalia Debaiky's wedding at the Prince Muhammad Ali Manial Palace. Courtesy Around Egypt in 60 Days
  • Aswan. Courtesy Around Egypt in 60 Days
    Aswan. Courtesy Around Egypt in 60 Days
  • The duo's engagement ceremony took place by the Nile in Cairo. Courtesy Guru Photo House
    The duo's engagement ceremony took place by the Nile in Cairo. Courtesy Guru Photo House
  • The Egyptian Geological Museum in Maadi. Courtesy Around Egypt in 60 Days
    The Egyptian Geological Museum in Maadi. Courtesy Around Egypt in 60 Days
  • A hot air balloon ride over the West Bank of Luxor. Courtesy Around Egypt in 60 Days
    A hot air balloon ride over the West Bank of Luxor. Courtesy Around Egypt in 60 Days
  • The family visit the Giza Pyramids on Jan 1, 2019. Courtesy Around Egypt in 60 Days
    The family visit the Giza Pyramids on Jan 1, 2019. Courtesy Around Egypt in 60 Days
  • The Temple of Abu Simbel in Aswan. Courtesy Around Egypt in 60 Days
    The Temple of Abu Simbel in Aswan. Courtesy Around Egypt in 60 Days
  • The couple on Al Medawwara Mountain in Al Fayoum. Courtesy Amr El Gohary
    The couple on Al Medawwara Mountain in Al Fayoum. Courtesy Amr El Gohary
  • The couple's Katb Ketab (signing of the Islamic marriage contract) ceremony by the Mosque of Mohamed Ali at the Citadel. Courtesy Hussein Abdel Kader
    The couple's Katb Ketab (signing of the Islamic marriage contract) ceremony by the Mosque of Mohamed Ali at the Citadel. Courtesy Hussein Abdel Kader
  • The Bahariya Oasis in Egypt's Western Desert. Courtesy Around Egypt in 60 Days
    The Bahariya Oasis in Egypt's Western Desert. Courtesy Around Egypt in 60 Days
  • The Bast Temple in Al Zagazig. Courtesy Around Egypt in 60 Days
    The Bast Temple in Al Zagazig. Courtesy Around Egypt in 60 Days
  • Mahmya Island in the Red Sea. Courtesy Around Egypt in 60 Days
    Mahmya Island in the Red Sea. Courtesy Around Egypt in 60 Days
  • Al Haramlik Palace in Alexandria's Montazah. Courtesy Around Egypt in 60 Days
    Al Haramlik Palace in Alexandria's Montazah. Courtesy Around Egypt in 60 Days
  • Ageeba Beach in Marsa Matrouh. Courtesy Around Egypt in 60 Days
    Ageeba Beach in Marsa Matrouh. Courtesy Around Egypt in 60 Days

The couple's journey began with the start of their relationship, after they got engaged. Not wanting to celebrate in traditional hotel ballrooms, they held their engagement party by the Nile, their Katb Kitab (signing of the Islamic marriage contract) inside the Citadel of Cairo's Muhammad Ali Mosque and their wedding in Al Manial Palace in 2014.

“Everyone was just stunned and struck by the fact that they were not aware that these historical sites could actually embrace private events,” says Attia.

The couple then spent their honeymoon partially in Aswan and Hurghada, where they explored the Giftun islands, such as Mahmya, with its crystal-clear turquoise waters.

“That’s how we fell in love with our country,” he says. “We thought, why stop here? Why not explore all 27 governorates of Egypt and document them?”

Since May 2017, the couple has done just that, posting pictures of themselves, and later their young daughter, showcasing the country's beauty, ranging from the Bahariya Oasis in the Western Desert to Marsa Matrouh on the Mediterranean.

They also highlight little-known attractions, such as Hurghada’s Grand Aquarium and the Geological Museum in Maadi, and throw in a bit of adventure, such as zip-lining in Mokattam and paramotoring over the pyramids.

In 2019, Attia established Events Around Egypt, which collaborates with the Ministry of Tourism to manage private weddings and corporate events at historical attractions, such as Al Manial Palace, the Citadel, Manial outdoor gardens and the Manasterly Palace.

“We want to get people intrigued and excited, and say ‘I want to do the same’,” says Attia.

“My motto is: if a lifespan of an average person is around 60 years, what’s 60 days as opposed to 60 years to get to fully roam your own country?”

MATCH INFO

What: 2006 World Cup quarter-final
When: July 1
Where: Gelsenkirchen Stadium, Gelsenkirchen, Germany

Result:
England 0 Portugal 0
(Portugal win 3-1 on penalties)

Three tips from La Perle's performers

1 The kind of water athletes drink is important. Gwilym Hooson, a 28-year-old British performer who is currently recovering from knee surgery, found that out when the company was still in Studio City, training for 12 hours a day. “The physio team was like: ‘Why is everyone getting cramps?’ And then they realised we had to add salt and sugar to the water,” he says.

2 A little chocolate is a good thing. “It’s emergency energy,” says Craig Paul Smith, La Perle’s head coach and former Cirque du Soleil performer, gesturing to an almost-empty open box of mini chocolate bars on his desk backstage.

3 Take chances, says Young, who has worked all over the world, including most recently at Dragone’s show in China. “Every time we go out of our comfort zone, we learn a lot about ourselves,” she says.

Results

5.30pm: Maiden Dh165,000 (Turf) 1,600m; Winner: Al Battar, Mickael Barzalona (jockey), Salem bin Ghadayer (trainer).

6.05pm: Maiden Dh165,000 (Dirt) 1,200m; Winner: Good Fighter, Richard Mullen, Satish Seemar.

6.40pm: Handicap Dh185,000 (T) 1,200m; Winner: Way Of Wisdom, Tadhg O’Shea, Satish Seemar.

7.15pm: Handicap Dh170,000 (D) 2,200m; Winner: Immortalised, Tadhg O’Shea, Satish Seemar.

7.50pm: Handicap Dh185,000 (T) 2,000m; Winner: Franz Kafka, James Doyle, Simon Crisford.

8.25pm: Handicap Dh185,000 (D) 1,200m; Winner: Mayadeen, Connor Beasley, Doug Watson.

9pm: Handicap Dh185,000 (T) 1,600m; Winner: Chiefdom, Mickael Barzalona, Salem bin Ghadayer

Team Angel Wolf Beach Blast takes place every Wednesday between 4:30pm and 5:30pm

COMPANY%20PROFILE
%3Cp%3E%3Cstrong%3ECompany%20name%3A%3C%2Fstrong%3E%20Switch%20Foods%3Cbr%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%202022%3Cbr%3E%3Cstrong%3EFounder%3A%3C%2Fstrong%3E%20Edward%20Hamod%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Abu%20Dhabi%2C%20UAE%3Cbr%3E%3Cstrong%3EIndustry%3A%3C%2Fstrong%3E%20Plant-based%20meat%20production%3Cbr%3E%3Cstrong%3ENumber%20of%20employees%3A%3C%2Fstrong%3E%2034%3Cbr%3E%3Cstrong%3EFunding%3A%3C%2Fstrong%3E%20%246.5%20million%3Cbr%3E%3Cstrong%3EFunding%20round%3A%3C%2Fstrong%3E%20Seed%3Cbr%3E%3Cstrong%3EInvestors%3A%3C%2Fstrong%3E%20Based%20in%20US%20and%20across%20Middle%20East%3C%2Fp%3E%0A
Easter%20Sunday
%3Cp%3EDirector%3A%20Jay%20Chandrasekhar%3Cbr%3EStars%3A%20Jo%20Koy%2C%20Tia%20Carrere%2C%20Brandon%20Wardell%2C%20Lydia%20Gaston%3Cbr%3ERating%3A%203.5%2F5%3C%2Fp%3E%0A
Civil%20War
%3Cp%3E%3Cstrong%3EDirector%3A%3C%2Fstrong%3E%20Alex%20Garland%C2%A0%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStarring%3A%3C%2Fstrong%3E%20Kirsten%20Dunst%2C%20Cailee%20Spaeny%2C%20Wagner%20Moura%2C%20Nick%20Offerman%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%204%2F5%3C%2Fp%3E%0A
Our legal consultant

Name: Dr Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

Result:

1. Cecilie Hatteland (NOR) atop Alex - 31.46 seconds

2. Anna Gorbacheva (RUS) atop Curt 13 - 31.82 seconds

3. Georgia Tame (GBR) atop Cash Up - 32.81 seconds

4. Sheikha Latifa bint Ahmed Al Maktoum (UAE) atop Peanuts de Beaufour - 35.85 seconds

5. Miriam Schneider (GER) atop Benur du Romet - 37.53 seconds

6. Annika Sande (NOR) atop For Cash 2 - 31.42 seconds (4 penalties)

Electric scooters: some rules to remember
  • Riders must be 14-years-old or over
  • Wear a protective helmet
  • Park the electric scooter in designated parking lots (if any)
  • Do not leave electric scooter in locations that obstruct traffic or pedestrians
  • Solo riders only, no passengers allowed
  • Do not drive outside designated lanes
INDIA'S%20TOP%20INFLUENCERS
%3Cp%3E%3Cstrong%3EBhuvan%20Bam%3C%2Fstrong%3E%3Cbr%3E%3Ca%20href%3D%22https%3A%2F%2Fwww.instagram.com%2Fbhuvan.bam22%2F%3Fhl%3Den%22%20target%3D%22_self%22%3EInstagram%3C%2Fa%3E%20followers%3A%2016.1%20million%3Cbr%3EBhuvan%20Bam%20is%20a%2029-year-old%20comedian%20and%20actor%20from%20Delhi%2C%20who%20started%20out%20with%20YouTube%20channel%2C%20%E2%80%9CBB%20Ki%20Vines%E2%80%9D%20in%202015%2C%20which%20propelled%20the%20social%20media%20star%20into%20the%20limelight%20and%20made%20him%20sought-after%20among%20brands.%3Cbr%3E%3Cstrong%3EKusha%20Kapila%3C%2Fstrong%3E%3Cbr%3E%3Ca%20href%3D%22https%3A%2F%2Fwww.instagram.com%2Fkushakapila%2F%3Fhl%3Den%22%20target%3D%22_self%22%3EInstagram%3C%2Fa%3E%20followers%3A%203.1%20million%3Cbr%3EKusha%20Kapila%20is%20a%20fashion%20editor%20and%20actress%2C%20who%20has%20collaborated%20with%20brands%20including%20Google.%20She%20focuses%20on%20sharing%20light-hearted%20content%20and%20insights%20into%20her%20life%20as%20a%20rising%20celebrity.%3Cbr%3E%3Cstrong%3EDiipa%20Khosla%3C%2Fstrong%3E%3Cbr%3E%3Ca%20href%3D%22https%3A%2F%2Fwww.instagram.com%2Fdiipakhosla%2F%3Fhl%3Den%22%20target%3D%22_self%22%3EInstagram%3C%2Fa%3E%20followers%3A%201.8%20million%3Cbr%3EDiipa%20Khosla%20started%20out%20as%20a%20social%20media%20manager%20before%20branching%20out%20to%20become%20one%20of%20India's%20biggest%20fashion%20influencers%2C%20with%20collaborations%20including%20MAC%20Cosmetics.%3Cbr%3E%3Cstrong%3EKomal%20Pandey%3Cbr%3E%3C%2Fstrong%3E%3Ca%20href%3D%22https%3A%2F%2Fwww.instagram.com%2Fkomalpandeyofficial%2F%3Fhl%3Den%22%20target%3D%22_self%22%3EInstagram%3C%2Fa%3E%20followers%3A%201.8%20million%3Cbr%3EKomal%20Pandey%20is%20a%20fashion%20influencer%20who%20has%20partnered%20with%20more%20than%20100%20brands%2C%20including%20Olay%20and%20smartphone%20brand%20Vivo%20India.%3Cbr%3E%3Cstrong%3ENikhil%20Sharma%3C%2Fstrong%3E%3Cbr%3E%3Ca%20href%3D%22https%3A%2F%2Fwww.instagram.com%2Fnikkkhil%2F%3Fhl%3Den%22%20target%3D%22_self%22%3EInstagram%3C%2Fa%3E%20followers%3A%201.4%20million%3Cbr%3ENikhil%20Sharma%20from%20Mumbai%20began%20his%20online%20career%20through%20vlogs%20about%20his%20motorcycle%20trips.%20He%20has%20become%20a%20lifestyle%20influencer%20and%20has%20created%20his%20own%20clothing%20line.%3Cbr%3E%3Cem%3ESource%3A%20Hireinfluence%2C%20various%3C%2Fem%3E%3Cbr%3E%3C%2Fp%3E%0A
MOUNTAINHEAD REVIEW

Starring: Ramy Youssef, Steve Carell, Jason Schwartzman

Director: Jesse Armstrong

Rating: 3.5/5

Real estate tokenisation project

Dubai launched the pilot phase of its real estate tokenisation project last month.

The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.

Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.

Tamkeen's offering
  • Option 1: 70% in year 1, 50% in year 2, 30% in year 3
  • Option 2: 50% across three years
  • Option 3: 30% across five years 
High profile Al Shabab attacks
  • 2010: A restaurant attack in Kampala Uganda kills 74 people watching a Fifa World Cup final football match.
  • 2013: The Westgate shopping mall attack, 62 civilians, five Kenyan soldiers and four gunmen are killed.
  • 2014: A series of bombings and shootings across Kenya sees scores of civilians killed.
  • 2015: Four gunmen attack Garissa University College in northeastern Kenya and take over 700 students hostage, killing those who identified as Christian; 148 die and 79 more are injured.
  • 2016: An attack on a Kenyan military base in El Adde Somalia kills 180 soldiers.
  • 2017: A suicide truck bombing outside the Safari Hotel in Mogadishu kills 587 people and destroys several city blocks, making it the deadliest attack by the group and the worst in Somalia’s history.
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”.

Moon Music

Artist: Coldplay

Label: Parlophone/Atlantic

Number of tracks: 10

Rating: 3/5

SPEC%20SHEET%3A%20APPLE%20M3%20MACBOOK%20AIR%20(13%22)
%3Cp%3E%3Cstrong%3EProcessor%3A%3C%2Fstrong%3E%20Apple%20M3%2C%208-core%20CPU%2C%20up%20to%2010-core%20CPU%2C%2016-core%20Neural%20Engine%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EDisplay%3A%3C%2Fstrong%3E%2013.6-inch%20Liquid%20Retina%2C%202560%20x%201664%2C%20224ppi%2C%20500%20nits%2C%20True%20Tone%2C%20wide%20colour%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EMemory%3A%3C%2Fstrong%3E%208%2F16%2F24GB%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStorage%3A%3C%2Fstrong%3E%20256%2F512GB%20%2F%201%2F2TB%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EI%2FO%3A%3C%2Fstrong%3E%20Thunderbolt%203%2FUSB-4%20(2)%2C%203.5mm%20audio%2C%20Touch%20ID%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EConnectivity%3A%3C%2Fstrong%3E%20Wi-Fi%206E%2C%20Bluetooth%205.3%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EBattery%3A%3C%2Fstrong%3E%2052.6Wh%20lithium-polymer%2C%20up%20to%2018%20hours%2C%20MagSafe%20charging%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ECamera%3A%3C%2Fstrong%3E%201080p%20FaceTime%20HD%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EVideo%3A%3C%2Fstrong%3E%20Support%20for%20Apple%20ProRes%2C%20HDR%20with%20Dolby%20Vision%2C%20HDR10%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EAudio%3A%3C%2Fstrong%3E%204-speaker%20system%2C%20wide%20stereo%2C%20support%20for%20Dolby%20Atmos%2C%20Spatial%20Audio%20and%20dynamic%20head%20tracking%20(with%20AirPods)%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EColours%3A%3C%2Fstrong%3E%20Midnight%2C%20silver%2C%20space%20grey%2C%20starlight%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EIn%20the%20box%3A%3C%2Fstrong%3E%20MacBook%20Air%2C%2030W%2F35W%20dual-port%2F70w%20power%20adapter%2C%20USB-C-to-MagSafe%20cable%2C%202%20Apple%20stickers%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EPrice%3A%3C%2Fstrong%3E%20From%20Dh4%2C599%3C%2Fp%3E%0A
What is the definition of an SME?

SMEs in the UAE are defined by the number of employees, annual turnover and sector. For example, a “small company” in the services industry has six to 50 employees with a turnover of more than Dh2 million up to Dh20m, while in the manufacturing industry the requirements are 10 to 100 employees with a turnover of more than Dh3m up to Dh50m, according to Dubai SME, an agency of the Department of Economic Development.

A “medium-sized company” can either have staff of 51 to 200 employees or 101 to 250 employees, and a turnover less than or equal to Dh200m or Dh250m, again depending on whether the business is in the trading, manufacturing or services sectors. 

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.”

Other must-tries

Tomato and walnut salad

A lesson in simple, seasonal eating. Wedges of tomato, chunks of cucumber, thinly sliced red onion, coriander or parsley leaves, and perhaps some fresh dill are drizzled with a crushed walnut and garlic dressing. Do consider yourself warned: if you eat this salad in Georgia during the summer months, the tomatoes will be so ripe and flavourful that every tomato you eat from that day forth will taste lacklustre in comparison.

Badrijani nigvzit

A delicious vegetarian snack or starter. It consists of thinly sliced, fried then cooled aubergine smothered with a thick and creamy walnut sauce and folded or rolled. Take note, even though it seems like you should be able to pick these morsels up with your hands, they’re not as durable as they look. A knife and fork is the way to go.

Pkhali

This healthy little dish (a nice antidote to the khachapuri) is usually made with steamed then chopped cabbage, spinach, beetroot or green beans, combined with walnuts, garlic and herbs to make a vegetable pâté or paste. The mix is then often formed into rounds, chilled in the fridge and topped with pomegranate seeds before being served.

How to help

Call the hotline on 0502955999 or send "thenational" to the following numbers:

2289 - Dh10

2252 - Dh50

6025 - Dh20

6027 - Dh100

6026 - Dh200

The National Archives, Abu Dhabi

Founded over 50 years ago, the National Archives collects valuable historical material relating to the UAE, and is the oldest and richest archive relating to the Arabian Gulf.

Much of the material can be viewed on line at the Arabian Gulf Digital Archive - https://www.agda.ae/en

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