Cafes and bars will go football crazy


  • English
  • Arabic

From the giant projector screens on Umm al Qaiwain Corniche to Sharjah's tournament-themed competitions, World Cup fever has gripped the UAE. Cafes, bars and shisha cafes throughout the nation's seven emirates are all gearing up to offer football fans first-class venues where they can enjoy the World Cup thrills and spills.

The popular Al Qasba entertainment zone has designed a new competition tent called "Scream For Your Club", which features wall-to-wall projectors for football's biggest international event. Live matches will be shown with English and Arabic commentary with sofa seating available for all. Sporting competitions and trivia contests will keep audiences entertained in between matches. To add to the spirit of excitement, raffles will be held at the opening of the first match and on every Friday during the tournament.

Fans are expected to gather at the Ajman Beach Club to watch the key games with a host of new televisions bought especially for the tournament. "In every angle you would like to look, there would be a screen," he said. "Then, if it's not your team playing, our singers and dancers will entertain you on the stage." The Kempisiki Hotel in Ajman has set up a World Cup village that will broadcast live matches on 16 giant screens. The celebration will continue all month long, with all three venues in the village opening one hour prior to kick-off on all match days.

Fans can take part in the World Cup atmosphere along the UAQ Corniche, located just a short distance from the King Faisal Road. Several projectors have already been set up outside the Corniche Café for those who want to watch the matches in the open air. The management has two more giant screens for those who will prefer to watch the matches indoors, said Suhail al Hajj, the cafe's owner.

Shisha cafes will remain open as long as there are customers to serve, vowed Abdul Minam, 27, a worker at the Manhattan Cafe. "For football, it's all full," he said. "Tonight there's no football and we will have 50 or 100 customers. On nights when football is being played it will be entirely full." Mr Minam expects about 300 customers a night during the World Cup. The Cove Rotana in RAK will have a South African-inspired brunch every Friday and prizes for guests watching World Cup matches at its Breeze Bar lounge.

Staff were hanging flags, raising projectors and working on new menus, ready to lure supporters into their cafes to watch the games. "The favourites here are Brazil but this year also Argentina because [Lionel] Messi is more popular, more famous," said Essam Abdelaziz, 34, the Egyptian manager of the Al Saher coffee shop. Keen to keep non-football fans happy too, the cafe has set aside a "no football zone" for shisha regulars who cannot stand the sport.

@Email:ykakande@thenational.ae azacharias@thenational.ae

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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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UPI facts

More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
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If you go

Flight connections to Ulaanbaatar are available through a variety of hubs, including Seoul and Beijing, with airlines including Mongolian Airlines and Korean Air. While some nationalities, such as Americans, don’t need a tourist visa for Mongolia, others, including UAE citizens, can obtain a visa on arrival, while others including UK citizens, need to obtain a visa in advance. Contact the Mongolian Embassy in the UAE for more information.

Nomadic Road offers expedition-style trips to Mongolia in January and August, and other destinations during most other months. Its nine-day August 2020 Mongolia trip will cost from $5,250 per person based on two sharing, including airport transfers, two nights’ hotel accommodation in Ulaanbaatar, vehicle rental, fuel, third party vehicle liability insurance, the services of a guide and support team, accommodation, food and entrance fees; nomadicroad.com

A fully guided three-day, two-night itinerary at Three Camel Lodge costs from $2,420 per person based on two sharing, including airport transfers, accommodation, meals and excursions including the Yol Valley and Flaming Cliffs. A return internal flight from Ulaanbaatar to Dalanzadgad costs $300 per person and the flight takes 90 minutes each way; threecamellodge.com

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