The UFC and the Department of Culture and Tourism – Abu Dhabi have extended their existing partnership that guarantees one numbered event to be held in the capital each year, with additional Fight Nights to take place “across the Mena region” as part of the deal.
Confirmation of an agreement through until 2028 was announced on Thursday immediately following the official press conference for UFC 294, which will be staged at Etihad Arena on Saturday night. It represents the 18th event held in Abu Dhabi since the world’s lead mixed martial arts promotion’s debut in the emirate in 2010.
In a press release accompanying Thursday’s news, UFC chief executive Dana White said: “Abu Dhabi is one of my favourite places in the world; the people, the restaurants, the hotels, it’s incredible.
“I have been so excited to be able to put on some of the biggest fights in the history of UFC in Abu Dhabi and it’s only going to get even bigger from here with additional Fight Nights coming to the region next year. I love it here.”
While a Fight Night in Saudi Arabia was earlier this month confirmed for March – it marks the UFC’s first stop in the kingdom – no other events in the region have been detailed. However, during the UFC 294 press conference, White said the promotion was in talks with Egypt and Qatar, among other Mena destinations, regarding hosting Fight Nights.
UFC and Abu Dhabi have enjoyed a long-standing and successful relationship. In 2019, they entered into a formal partnership that committed to putting on one pay-per-view event per year through until 2023.
In 2020, the relationship strengthened through the Fight Island series in Abu Dhabi, a concept that allowed the UFC to stage events during the Covid-19 pandemic.
Fight Island featured some of the sport’s most prominent names, including former lightweight champion Khabib Nurmagomedov, former two-division belt-holder Conor McGregor and former middleweight champion Israel Adesanya.
Through the original deal, nine title fights have taken place in Abu Dhabi, with this weekend’s UFC 294 headlined by lightweight champion Islam Makhachev’s title defence in his rematch against featherweight No 1 Alexander Volkanovski. UFC 294 is part of Abu Dhabi Showdown Week, a week-long series of activations and events in the city.
In Thursday’s release, Saood Abdulaziz Al Hosani, undersecretary of DCT Abu Dhabi, said: “Bringing UFC to Abu Dhabi each year has proved hugely popular, with MMA fans coming to the emirate from all over the world to watch the biggest and best fights in the sport.
“Over a 15-year relationship, the UFC has extended its global reach and Abu Dhabi has established itself as a world capital for combat sports. Renewing our partnership with UFC allows us to continue to stage major events that thrill visitors and residents.
“We are excited to extend the relationship and innovate together to grow this sport in the UAE and wider region.”
On Saturday, Mohammed Yahya will make history as the first Emirati to compete in the UFC, when the Dubai-based lightweight faces American Trevor Peek. White has long said he envisioned, through the relationship with Abu Dhabi, that the company would one day be home to fighters from the UAE.
At Thursday’s press conference, the UFC chief executive added: “Obviously we’ve been here in the region for a long time in Abu Dhabi and you’ve seen the sport explode here, [and] get bigger. People training, athletes actually fighting in the UFC now that are from here.”
After stating that negotiations have taken place with the likes of Egypt and Qatar, White was asked if Abu Dhabi would remain the promotion’s home in the region.
“Always be home,’ he said. “I’m never leaving Abu Dhabi.”
Last year, White told The National that the UFC planned to put on fights in the emirate for “the rest of my life”, with multiple events per year “absolutely, positively going to happen” in future.
“You know how I feel about Abu Dhabi, I love this place,” he said. “Every time we come here we like to deliver. The powers that be in this country have always been very good to us.
“This is like our marquee event of the year. We always want to bring the biggest and the brightest here to Abu Dhabi.”
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Why the Tourist Club?
Originally, The Club (which many people chose to call the “British Club”) was the only place where one could use the beach with changing rooms and a shower, and get refreshments.
In the early 1970s, the Government of Abu Dhabi wanted to give more people a place to get together on the beach, with some facilities for children. The place chosen was where the annual boat race was held, which Sheikh Zayed always attended and which brought crowds of locals and expatriates to the stretch of beach to the left of Le Méridien and the Marina.
It started with a round two-storey building, erected in about two weeks by Orient Contracting for Sheikh Zayed to use at one these races. Soon many facilities were planned and built, and members were invited to join.
Why it was called “Nadi Al Siyahi” is beyond me. But it is likely that one wanted to convey the idea that this was open to all comers. Because there was no danger of encountering alcohol on the premises, unlike at The Club, it was a place in particular for the many Arab expatriate civil servants to join. Initially the fees were very low and membership was offered free to many people, too.
Eventually there was a skating rink, bowling and many other amusements.
Frauke Heard-Bey is a historian and has lived in Abu Dhabi since 1968.
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.”
COMPANY PROFILE
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Total funding: Self funded
Schedule for Asia Cup
Sept 15: Bangladesh v Sri Lanka (Dubai)
Sept 16: Pakistan v Qualifier (Dubai)
Sept 17: Sri Lanka v Afghanistan (Abu Dhabi)
Sept 18: India v Qualifier (Dubai)
Sept 19: India v Pakistan (Dubai)
Sept 20: Bangladesh v Afghanistan (Abu Dhabi) Super Four
Sept 21: Group A Winner v Group B Runner-up (Dubai)
Sept 21: Group B Winner v Group A Runner-up (Abu Dhabi)
Sept 23: Group A Winner v Group A Runner-up (Dubai)
Sept 23: Group B Winner v Group B Runner-up (Abu Dhabi)
Sept 25: Group A Winner v Group B Winner (Dubai)
Sept 26: Group A Runner-up v Group B Runner-up (Abu Dhabi)
Sept 28: Final (Dubai)
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THE BIO: Martin Van Almsick
Hometown: Cologne, Germany
Family: Wife Hanan Ahmed and their three children, Marrah (23), Tibijan (19), Amon (13)
Favourite dessert: Umm Ali with dark camel milk chocolate flakes
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Breakfast routine: a tall glass of camel milk
