Chelsea manager Antonio Conte and players applaud fans after a match on December 3, 2016. Jason Cairnduff / Reuters
Chelsea manager Antonio Conte and players applaud fans after a match on December 3, 2016. Jason Cairnduff / Reuters

Chelsea’s rise back to the top a credit to their players just as much as Antonio Conte



Diego Forlan writes a weekly column for The National, appearing each Friday. The former Manchester United, Inter Milan and Atletico Madrid striker has been the top scorer in Europe twice and won the Golden Boot at the 2010 World Cup. Forlan's column is written with the assistance of European football correspondent Andy Mitten.

At the start of last season I wrote a column where I confidently predicted that Jose Mourinho's Chelsea would retain the Premier League. I could not see any team coming close to them.

Chelsea finished 10th and lost as many games as they won. They also fired Mourinho. And that is what makes football so interesting, the most fascinating sport in the world.

Manchester City have Pep Guardiola in charge. Without exception, he has been successful wherever he has been; yet his City team are currently seven points off the top of the league.

Chelsea’s lead at the halfway point makes them clear favourites to be champions. They have won their last 12 games, a club record.

When you are in a team like that — and I have been in them at United, Villarreal and Atletico Madrid — your confidence levels go up and up and up, especially after you have beaten the teams who are your main rivals — or hammered them 4-0 as Chelsea did to United.

• Premier League predictions: Chelsea set to make it 13 in a row

The problem is keeping your feet on the ground because it does not matter who you are playing, you feel unbeatable and that anything you try will come off.

It does not matter which players are missing, you feel that you are strong enough and that confidence is infectious.

Chelsea did not have Diego Costa, their top scorer, against Bournemouth on Monday, yet it was not a problem.

When morale is so high, it is a great time to introduce a young player for their debut because they will feel the buzz of the team, but these situations are rare.

Very, very few teams in a top league win 12 straight games as Chelsea have done, but they impress me because they seem united as a team — which they did not a year ago.

I know people pick out Diego Costa or Pedro or Eden Hazard, but what their coach Antonio Conte does best is create teams.

He did it at Juventus, where they were built on a brilliant defence, with great counter-attacking ability.

He reminds me of Mourinho in this way, who also shares the characteristic of being very intense.

Given the decline of Serie A, it was a huge achievement for an Italian side to reach the Uefa Champions League final as Juventus did in 2015.

They knocked Real Madrid out in that year, the team who won the competition in 2014 and 2016.

Conte is the only man to get the better of them in the last three years over two legs.

Much has been made of Conte playing three at the back and how effective this has been since he switched to it after a difficult start.

I do not buy into these tactical obsessions that occupy so much space in the media.

Football is a really simple game and the most important thing, in any formation, is that the players do their jobs, not the formation which they play in.

All of the usual formations have advantages and disadvantages, but none would work without the magic of the players.

Systems, coaches and directors or club presidents do not win games — players do, they are the only people who can make a significant difference once that game starts.

One player who has been doing exceptionally well is Costa, the Premier League’s top scorer.

We both joined Atletico Madrid at the same time in 2007 and I played alongside him a couple of times towards the end of my time at Atletico, but he was still a teenager when he arrived and kept being sent out on loan.

He went to Braga, Celta, Albacate, Valladolid and Rayo Vallecano, which is normal for an emerging player who is not quite ready to play every game for a top team. My departure in 2011 helped create a space for him.

I liked Diego. He was a funny guy, always joking about with the other Brazilian and Portuguese players there, always smiling and completely different to the man people see on the pitch, the fighter with the strong personality. It is like he transforms when he crosses the line.

Another player I played briefly with at Atletico was Thibaut Courtois. He was new and on loan from Chelsea, very pleasant and very shy. I left for Inter Milan, he stayed and had a superb loan spell at Atletico, where he played in the team which knocked Chelsea out of the 2014 Champions League.

A few months after I left Atletico, I was surprised to see an interview with Courtois where he spoke really good Spanish, with all the correct pronunciation, which is not easy for any player new to a country, not because they do not want to learn but because it is not an easy language to learn.

I still had friends at Atletico and they told me he was dating a Spanish girl. That is the best way to learn a language quickly.

Courtois was rated highly enough by Chelsea to go back and replace Petr Cech, one of the best goalkeepers of modern times. He has lived up to his reputation.

Chelsea should enjoy the moment and hope that it continues until they have won the league, because as they saw last season, confidence can plummet after a few bad results and a team can go into a spin where nothing goes right, no matter which players you have.

Unlike now, you just have to hope that your most experienced players can play you out of a slump because it is no time to start young players.

It is the opposite of where they are now and just as much credit should be given to Chelsea’s players for the team’s current success as to the manager who is currently receiving so much of the praise.

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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.

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.

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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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