DUBAI // As he exited the car at Dubai Autodrome, his wide-eyed expression betrayed his composed performance. Florian Strauss, the German driver with Nissan’s GT Academy, may be 29 years old, but in terms of racing experience, he is as wet behind the ears as a stripling showering in the rain.
Strauss, from Berlin, last year became the national champion in Germany’s GT Academy, yet his first steps on that route to recognition started on a PlayStation.
Nissan’s concept of taking video gamers to the starting grid was launched in 2008, but is now well regarded, with drivers from around the world coming through the programme to compete in international race series.
Last year, Qatar’s Salman Al Khater became the inaugural winner of the Middle East category and will, alongside Strauss and seven other academy members, compete in today’s Dunlop 24 Hours of Dubai.
They will be joined by India’s former Formula One driver Karun Chandhok, who has been recruited as a mentor.
“We obviously all know what Karun has achieved in his career, so we are looking up to him,” Strauss said during a rare moment of quiet in the Autodrome paddock.
“He has a lot of experience – in many types of car – and it has been very interesting to see him in the debrief, how he operates in terms of providing feedback to the engineers and such.”
Chandhok raced for half a season with HRT in 2010 before moving to Team Lotus the following year, where he worked as a test driver. Eloquent and encyclopaedic in his racing knowledge, the Madras native turns 30 later this month and is keen to pass on his expertise.
“The GT Academy is a very well structured programme,” he said. “I was surprised by just how well the guys are looked after. They have two driver coaches here as well as guys like myself who are mentoring them.”
Strauss, keen to speak but seeking shade from the bright midday sun, found respite in his team’s hospitality tent, which offered al fresco dining, an assortment of drinks options and a comfortable, inflatable blue couch. “Pretty nice, huh?” he said.
“When I won the finals [in November], it was an unbelievable feeling to finally become a racing driver.
“I have no idea what to expect going forward, though, or what is coming up in the future, but for now, everything is new and feels very professional. They treat us very well and I am enjoying the experience.”
Chandhok spent the first two days of practice urging the academy members to simply get comfortable and not worry too much about lap times.
Speed is essential, but comfort is more important, given the duration of the race. Dubai is regarded as a particularly tricky endurance event, courtesy of the potential for grip-reducing swirling sands, fluctuating temperatures and the large-field, small-track equation
“It’s a very hard race for a rookie, but you throw them in at the deep end and see who sinks and swims,” said Chandhok, who raced here in 2009. Back then, his team’s chances ended at 4am when his Lotus suffered a broken gearbox. This year, he is just hoping to finish.
“It is very much a survival of the fittest. If you finish, you will get a result of some description,” he added.
As well as mentoring, Chandhok is also ready to provide the academy – undergoing international expansion – with an inroad into the Subcontinent.
Darren Cox, the global motorsport director at Nissan, will arrive in Dubai today to discuss taking the GT Academy to India, a country that has seen its relations hip with motorsport strengthen in recent years courtesy of a Formula One grand prix in New Delhi.
“It’s a very interesting concept for a country like India, because it’s difficult for kids to afford to go racing,” Chandhok said.
“We’re a very big country geographically, so accessibility to go-kart tracks is very limited as well. The entire population of England can fit into my state, for example, so something like this would work well there because it’s not capital-intensive.”
And what of the academy members themselves? Has Chandhok recognised any specific differences between a driver primed on video games and one who grew up racing karts and cars in junior formulae?
“It’s too early for me to judge that,” he said.
“But one thing I have noticed is that when you see them get out of the car, there is still that deer-in-the-headlights moment; it’s all still a shock to the system for them.”
gmeenaghan@thenational.ae
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F1 The Movie
Starring: Brad Pitt, Damson Idris, Kerry Condon, Javier Bardem
Director: Joseph Kosinski
Rating: 4/5
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GAC GS8 Specs
Engine: 2.0-litre 4cyl turbo
Power: 248hp at 5,200rpm
Torque: 400Nm at 1,750-4,000rpm
Transmission: 8-speed auto
Fuel consumption: 9.1L/100km
On sale: Now
Price: From Dh149,900
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Hotel Silence
Auður Ava Ólafsdóttir
Pushkin Press
England ODI squad
Eoin Morgan (captain), Moeen Ali, Jonny Bairstow, Jake Ball, Sam Billings, Jos Buttler, Tom Curran, Alex Hales, Liam Plunkett, Adil Rashid, Joe Root, Jason Roy, Ben Stokes, David Willey, Chris Woakes, Mark Wood.
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%20PROFILE
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Living in...
This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.
Dhadak 2
Director: Shazia Iqbal
Starring: Siddhant Chaturvedi, Triptii Dimri
Rating: 1/5
The specs
Engine: 5.2-litre V10
Power: 640hp at 8,000rpm
Torque: 565Nm at 6,500rpm
Transmission: 7-speed dual-clutch auto
Price: From Dh1 million
On sale: Q3 or Q4 2022
White hydrogen: Naturally occurring hydrogen
Chromite: Hard, metallic mineral containing iron oxide and chromium oxide
Ultramafic rocks: Dark-coloured rocks rich in magnesium or iron with very low silica content
Ophiolite: A section of the earth’s crust, which is oceanic in nature that has since been uplifted and exposed on land
Olivine: A commonly occurring magnesium iron silicate mineral that derives its name for its olive-green yellow-green colour
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Specs
Engine: Dual-motor all-wheel-drive electric
Range: Up to 610km
Power: 905hp
Torque: 985Nm
Price: From Dh439,000
Available: Now