Boris Becker is optimistic people will follow the lead of Roger Federer who spends his off-season time in Dubai.
Boris Becker is optimistic people will follow the lead of Roger Federer who spends his off-season time in Dubai.
Boris Becker is optimistic people will follow the lead of Roger Federer who spends his off-season time in Dubai.
Boris Becker is optimistic people will follow the lead of Roger Federer who spends his off-season time in Dubai.

Dubai is the perfect place to have 'fun with the racket'


Paul Radley
  • English
  • Arabic

DUBAI // Boris Becker believes the UAE could soon become a haven for the world's top tennis players, in the same way it already is for golfers. The European Ryder Cup player Henrik Stenson is the leading light among a raft of golfers who are based permanently in Dubai. Thomas Bjorn, another former Ryder Cup player, is a long term resident, while Rory McIlroy, 19, recently mapped out a plan to make Dubai his base after buying a villa in the Jumeirah. Indeed, the European Tour itself will soon be based in the emirate, following on from the launch of the Race to Dubai earlier this week.

Now Becker predicts the same thing could happen with tennis. Roger Federer, the World No 2 and arguably the most recognisable player in the game today, spends the majority of his off-season time at his home in Dubai. Becker feels young tennis players would be wise to follow the Swiss master's lead. The legendary German plans to tap into the potential boom, after announcing plans for his Boris Becker Beach Resort and Tennis Academy in Ras Al Khaimah yesterday.

He said: "Federer lives here and therefore plays a lot of tennis here. I think that is an example for tennis players in the future, to use Dubai as a place to practice and spend their winter. "Athletes in general could follow that path. Golf has shown the way, and Federer is already living here. It is just a question of time, and I'm sure this area will be used in a broader way by a lot of athletes.

"It [Becker's Academy] will not just be open for professional players, but recreational players as well. The location is ideal. "Coming from Europe to this region between now and early summer, it is the perfect place to get away and have some fun with a tennis racket. "From a professional point of view, there are a lot of tournaments happening not too far away, around the time of the Australian Open at the start of the year.

"They need facilities during the winter and, instead of flying all the way to Florida for the winter, they can come here. "Not only because there is a major tournament in Dubai, but there are also events in Doha, and tennis in the region is becoming more and more popular. "Tennis is extremely popular in the region and there is no reason to expect it not to grow and grow in the coming years." The project is to be built on Al Marjan Island in Ras Al Khaimah, and will be a 20-hectare development with 10,000 apartments and 299 hotel rooms.

Becker is also planning an exhibition match with the UAE's No 1 player, Omar Behroozian, in the coming weeks. Proceeds from that event will go to the Dubai Autism Centre, but Becker gives his assurance that will not be the end of his involvement with UAE tennis. "I don't just have my name on [the Resort and Tennis Academy] - I am a co-investor, which shows how I feel about it," added the six-time grand slam title winner.

"I have been a part of the project from the very beginning and it would be amazing if a player from the region, who came to our Academy, became a professional. That would be a dream." @Email:pradley@thenational.ae More coverage, page b4

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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Company profile

Name: Tratok Portal

Founded: 2017

Based: UAE

Sector: Travel & tourism

Size: 36 employees

Funding: Privately funded

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