• UAE residents who struck lucky with Abu Dhabi's Big Ticket draw attended a gala dinner. Organisers of the draw celebrated the winners' good luck at the Alexandra Dhow Cruise in Dubai Marina. All photos by Leslie Pableo / The National
    UAE residents who struck lucky with Abu Dhabi's Big Ticket draw attended a gala dinner. Organisers of the draw celebrated the winners' good luck at the Alexandra Dhow Cruise in Dubai Marina. All photos by Leslie Pableo / The National
  • Richard Isaac and Bouchra Yamani, the two presenters who pick out the raffle tickets and call the winners, interacted with the winners. Some of attendees had won jackpots of between Dh1 million to Dh15 million, while others won Dh90,000
    Richard Isaac and Bouchra Yamani, the two presenters who pick out the raffle tickets and call the winners, interacted with the winners. Some of attendees had won jackpots of between Dh1 million to Dh15 million, while others won Dh90,000
  • 'The National' spoke to winners about how they have spent their grand prize. Shivamurthy Gali Krishnappa won Dh12 million last month. He said he wants to save for his children's future. For now, he is still working as a mechanical engineer for a stainless steel production company
    'The National' spoke to winners about how they have spent their grand prize. Shivamurthy Gali Krishnappa won Dh12 million last month. He said he wants to save for his children's future. For now, he is still working as a mechanical engineer for a stainless steel production company
  • Shahed Ahmed Moulvifaiz, a Bangladeshi car garage owner in Al Ain, won Dh10 million less than a week ago. He wants to bring his family to the UAE, expand his business and spend on his youngest son's education
    Shahed Ahmed Moulvifaiz, a Bangladeshi car garage owner in Al Ain, won Dh10 million less than a week ago. He wants to bring his family to the UAE, expand his business and spend on his youngest son's education
  • Jayaprakash Mariyan Philip had won the Dh1 million prize with nine other people. The funds were split equally, leaving him with Dh100,000. He said he has paid off part of his bank loans
    Jayaprakash Mariyan Philip had won the Dh1 million prize with nine other people. The funds were split equally, leaving him with Dh100,000. He said he has paid off part of his bank loans
  • Zaheenn Kausar was visiting her husband in Abu Dhabi from Pakistan, when he bought a ticket under her name. She proved lucky for her family after winning Dh90,000. She wants to pay for her daughter's university tuition and buy a car for herself
    Zaheenn Kausar was visiting her husband in Abu Dhabi from Pakistan, when he bought a ticket under her name. She proved lucky for her family after winning Dh90,000. She wants to pay for her daughter's university tuition and buy a car for herself
  • Before the Covid-19 pandemic, more than 5,000 people would gather during a live event in Abu Dhabi to watch the draw take place. Since 2020, the draw streams live on social media channels, bringing in even larger crowds
    Before the Covid-19 pandemic, more than 5,000 people would gather during a live event in Abu Dhabi to watch the draw take place. Since 2020, the draw streams live on social media channels, bringing in even larger crowds
  • Many people buy multiple tickets together and then split the prize equally. There are also those who win after buying a ticket alone, allowing them to keep the entire jackpot
    Many people buy multiple tickets together and then split the prize equally. There are also those who win after buying a ticket alone, allowing them to keep the entire jackpot
  • The Abu Dhabi Big Draw has been changing lives since 1992
    The Abu Dhabi Big Draw has been changing lives since 1992
  • The ticket for the grand prize costs Dh500
    The ticket for the grand prize costs Dh500

UAE

Mystery UAE resident wins Dh50 million in biggest Mahzooz draw

Organisers said this is the largest prize draw win in the region

Anam Rizvi
Anam Rizvi

October 24, 2021

  • English
  • Arabic

Revealed: Pakistani driver on Dh6,000 salary scoops Dh50 million

A UAE resident scooped the whopping prize of Dh50 million ($13.6m) in the weekly Mahzooz draw on Saturday – the biggest prize draw win in the Gulf region, organisers said.

Details about the winner have not yet been announced yet, but organisers said he was an Asian man between the age of 30 and 40.

The win is the first time in 48 draws that someone has taken home the multi-million dollar grand prize.

The winner matched all six numbers. The winning numbers were: 6, 11, 21, 32, 33, and 46.

Farid Samji, chief executive officer of Ewings, which runs Mahzooz, said: “This is by far the biggest prize money to have been won in the UAE and the GCC.

“We have been eagerly waiting for someone to take home the grand prize. We’re extremely happy that luck has favoured someone after 48 draws."

Six people shared the second prize, which was doubled to Dh2m this week as it went unclaimed in the previous draw on October 16. Each took home Dh333,333.

The third prize of Dh1,000 was won by 185 entrants, and Dh35 went to 3,456 participants.

The total prize money won in Saturday night’s draw was Dh52,305,960.

Dubai's luxury property market rebounds - in pictures

  • An Arabic-style villa in Palm Jumeirah. Dubai is recording a sharp increase in the sale of homes valued at more than $10 million. Photo: Engel and Voelkers
    An Arabic-style villa in Palm Jumeirah. Dubai is recording a sharp increase in the sale of homes valued at more than $10 million. Photo: Engel and Voelkers
  • A Dh48million mansion in Emirates Hills. In Dubai, 22 homes worth more than $10m were sold in the first five months of 2021, the most since 2015, and up from 19 homes in the corresponding period in 2020. Photo: Engel and Voelkers
    A Dh48million mansion in Emirates Hills. In Dubai, 22 homes worth more than $10m were sold in the first five months of 2021, the most since 2015, and up from 19 homes in the corresponding period in 2020. Photo: Engel and Voelkers
  • A custom-built luxury villa in Dubai Hills Estate. Dubai was one of the first cities to reopen its borders to international tourists in July 2020. Photo: Luxhabitat Sotheby's International Realty
    A custom-built luxury villa in Dubai Hills Estate. Dubai was one of the first cities to reopen its borders to international tourists in July 2020. Photo: Luxhabitat Sotheby's International Realty
  • A rendering of a luxury villa in Mohammed Bin Rashid Al Maktoum City. The sharp increase in Dubai's luxury home market reflects similar patterns in other global cities. Photo: Meydan Sobha
    A rendering of a luxury villa in Mohammed Bin Rashid Al Maktoum City. The sharp increase in Dubai's luxury home market reflects similar patterns in other global cities. Photo: Meydan Sobha
  • Night-time rendering of a mansion at Meraas’ Bvlgari Residences on Jumeirah Bay Island. Photo: Meraas
    Night-time rendering of a mansion at Meraas’ Bvlgari Residences on Jumeirah Bay Island. Photo: Meraas
  • The Il Primo apartments in Downtown Dubai. The smallest units of around 4,979 square feet are being sold for £3.5 million each. Photo: Emaar
    The Il Primo apartments in Downtown Dubai. The smallest units of around 4,979 square feet are being sold for £3.5 million each. Photo: Emaar
  • The swimming pool at the MAG 318 upscale residential tower in Business Bay. Antonie Robertson / The National
    The swimming pool at the MAG 318 upscale residential tower in Business Bay. Antonie Robertson / The National
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1888

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UAE currency: the story behind the money in your pockets
Where can I submit a sample?

Volunteers can now submit DNA samples at a number of centres across Abu Dhabi. The programme is open to all ages.

Collection centres in Abu Dhabi include:

  • Abu Dhabi National Exhibition Centre (ADNEC)
  • Biogenix Labs in Masdar City
  • Al Towayya in Al Ain
  • NMC Royal Hospital in Khalifa City
  • Bareen International Hospital
  • NMC Specialty Hospital, Al Ain
  • NMC Royal Medical Centre - Abu Dhabi
  • NMC Royal Women’s Hospital.
Transgender report
The specs
Engine: 2.0-litre 4-cyl turbo

Power: 201hp at 5,200rpm

Torque: 320Nm at 1,750-4,000rpm

Transmission: 6-speed auto

Fuel consumption: 8.7L/100km

Price: Dh133,900

On sale: now 

Who's who in Yemen conflict

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How Tesla’s price correction has hit fund managers

Investing in disruptive technology can be a bumpy ride, as investors in Tesla were reminded on Friday, when its stock dropped 7.5 per cent in early trading to $575.

It recovered slightly but still ended the week 15 per cent lower and is down a third from its all-time high of $883 on January 26. The electric car maker’s market cap fell from $834 billion to about $567bn in that time, a drop of an astonishing $267bn, and a blow for those who bought Tesla stock late.

The collapse also hit fund managers that have gone big on Tesla, notably the UK-based Scottish Mortgage Investment Trust and Cathie Wood’s ARK Innovation ETF.

Tesla is the top holding in both funds, making up a hefty 10 per cent of total assets under management. Both funds have fallen by a quarter in the past month.

Matt Weller, global head of market research at GAIN Capital, recently warned that Tesla founder Elon Musk had “flown a bit too close to the sun”, after getting carried away by investing $1.5bn of the company’s money in Bitcoin.

He also predicted Tesla’s sales could struggle as traditional auto manufacturers ramp up electric car production, destroying its first mover advantage.

AJ Bell’s Russ Mould warns that many investors buy tech stocks when earnings forecasts are rising, almost regardless of valuation. “When it works, it really works. But when it goes wrong, elevated valuations leave little or no downside protection.”

A Tesla correction was probably baked in after last year’s astonishing share price surge, and many investors will see this as an opportunity to load up at a reduced price.

Dramatic swings are to be expected when investing in disruptive technology, as Ms Wood at ARK makes clear.

Every week, she sends subscribers a commentary listing “stocks in our strategies that have appreciated or dropped more than 15 per cent in a day” during the week.

Her latest commentary, issued on Friday, showed seven stocks displaying extreme volatility, led by ExOne, a leader in binder jetting 3D printing technology. It jumped 24 per cent, boosted by news that fellow 3D printing specialist Stratasys had beaten fourth-quarter revenues and earnings expectations, seen as good news for the sector.

By contrast, computational drug and material discovery company Schrödinger fell 27 per cent after quarterly and full-year results showed its core software sales and drug development pipeline slowing.

Despite that setback, Ms Wood remains positive, arguing that its “medicinal chemistry platform offers a powerful and unique view into chemical space”.

In her weekly video view, she remains bullish, stating that: “We are on the right side of change, and disruptive innovation is going to deliver exponential growth trajectories for many of our companies, in fact, most of them.”

Ms Wood remains committed to Tesla as she expects global electric car sales to compound at an average annual rate of 82 per cent for the next five years.

She said these are so “enormous that some people find them unbelievable”, and argues that this scepticism, especially among institutional investors, “festers” and creates a great opportunity for ARK.

Only you can decide whether you are a believer or a festering sceptic. If it’s the former, then buckle up.

COMPANY PROFILE
Name: ARDH Collective
Based: Dubai
Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
Sector: Sustainability
Total funding: Self funded
Number of employees: 4

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Syria v Australia
2018 World Cup qualifying: Asia fourth round play-off first leg
Venue: Hang Jebat Stadium (Malacca, Malayisa)
Kick-off: Thursday, 4.30pm (UAE)
Watch: beIN Sports HD

* Second leg in Australia scheduled for October 10

Origin
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No_One Ever Really Dies

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(I Am Other/Columbia)

Updated: October 25, 2021, 10:10 AM
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