Sheikh Hamdan to lead the charge at Dubai Run on Friday


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Sheikh Hamdan bin Mohammed, Crown Prince of Dubai, will lead the way as thousands step out in force for the return of the Dubai Run on Friday.

Sheikh Hamdan is urging the public to lace up their running shoes and hit the road for a showpiece event aimed at seasoned racers and newcomers alike.

He shared an Instagram story with his 12.7 million followers to promote the festival of fitness – and called on all to "join me".

Sheikh Zayed Road will again be transformed into a running track for the morning as one of the highlights of the annual Dubai Fitness Challenge flies out of the starting blocks.

Last year's event took a socially distanced detour because of the Covid-19 pandemic, with runners negotiating several routes in an effort to avoid overcrowding.

But all eyes will be on Sheikh Zayed Road once more as the busy Dubai stretch is cleared of cars and filled with huge crowds of runners in pursuit of a good time.

All ages and abilities can take part

Registrations are open for the Dubai Run, which is split into a family-friendly 5-kilometre route and a more challenging 10km for recreational and professional runners.

The start line is near the spectacular Museum of the Future and the scenic route will take in sights such as Emirates Towers, Dubai Mall and Burj Khalifa before finishing up at Al Mustaqbal Street near Dubai World Trade Centre.

Dubai Run was first held in 2019 and attracted thousands of entrants to its first two events.

“Dubai Run has become a signature event in the Dubai Fitness Challenge annual calendar of events. Following the great success last year with tens of thousands of participants, we anticipate even greater attendance this year, from sport and fitness enthusiasts of all ages, nationalities and capabilities, as well as professional and amateur runners," said Saeed Hareb, secretary general of Dubai Sports Council.

"We look forward to transforming Sheikh Zayed Road into a giant running track and bringing Dubai one step closer to becoming one of the most active cities in the world.

"Dubai Run is the epitome of what Dubai represents, a melting pot of different cultures and people, who come together in harmony to enjoy the quality of life that the city has to offer and take advantage of the multiple events and activities that allow them to lead healthier and more active lifestyles, during Dubai Fitness Challenge and all year round.”

The run starts from 6.30am. For more information on the event and how to register, visit www.dubairun.com

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Sectors: Internet, e-commerce
Investments: Grants/private funding
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Started: November 2017

Founders: Mounir Nakhla, Ahmed Mohsen and Mohamed Aboulnaga

Based: Cairo, Egypt

Sector: transport and logistics

Size: 150 employees

Investment: approximately $8 million

Investors include: Singapore’s Battery Road Digital Holdings, Egypt’s Algebra Ventures, Uber co-founder and former CTO Oscar Salazar

Company Fact Box

Company name/date started: Abwaab Technologies / September 2019

Founders: Hamdi Tabbaa, co-founder and CEO. Hussein Alsarabi, co-founder and CTO

Based: Amman, Jordan

Sector: Education Technology

Size (employees/revenue): Total team size: 65. Full-time employees: 25. Revenue undisclosed

Stage: early-stage startup 

Investors: Adam Tech Ventures, Endure Capital, Equitrust, the World Bank-backed Innovative Startups SMEs Fund, a London investment fund, a number of former and current executives from Uber and Netflix, among others.

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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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England v Spain, Saturday, 11.45pm (UAE)

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Updated: November 22, 2021, 5:04 AM