A gym manager from the UK is celebrating after winning Dh10 million ($2.7m) in the Mahzooz weekly draw.
Reece, 26, who asked for his last name not to be publicised, said he plans to keep his job and to be “as smart as possible about investing the winnings”.
It was a week of celebrations for the man from Luton, outside London, as he also got married on Thursday.
“When I went on the Mahzooz website on Saturday night I saw that someone had won the Dh10 million jackpot and I thought ‘that’s incredible’.
“Then I checked my numbers and realised that I was the person who had won it.
“I froze for about a minute before running upstairs to tell my wife, she just burst into tears of joy.”
The Dubai resident matched all five numbers on Saturday’s prize draw, the third person in the last four weeks to claim the top prize.
“I’m going to keep working at the gym. My employers have been great to me over the past four years, since I moved to Dubai, they’ve helped me to become the person I am,” he said.
“After I told my wife, I phoned my parents back in the UK and my dad couldn’t believe it, even the next day he was still messaging me to ask if it really had happened.”
While Reece said he would seek financial advice on how best to invest his winnings, there were a few purchases he was keen to make.
“At the moment we’re renting a property here so we would like to buy our own home,” he said.
“I’d also like to buy my wife a brand-new car as she’s never had a brand new one before.”
Reece said he was determined to keep his feet on the ground, despite becoming a millionaire overnight.
“We’re trying to be smart about how we do things because this is an incredible amount of money that will change our lives,” he said.
“It’s given us the option to unlock the next level of life. There are so many things running through my head that I’ve never dreamt of before.”
He was not the first member of staff from his gym to have won big in the Mahzooz draw.
“A Filipino colleague of mine won Dh1 million in the draw in July last year,” he said.
“To be honest, it’s hard to try to put my emotions into words. The first night after winning I just couldn’t sleep at all.
‘It’s important for me to remember where I come from and that’s why my priority is to focus on how to make my family’s life better.”
Reece’s lucky numbers were 16, 18, 37, 38 and 40.
To take part in the event, entrants are required to purchase a Dh35 bottle of water, which is then donated to people in need across the UAE.
Purchasing the bottle of water entitles you then to take part in the weekly prize draw.
“We are delighted that the Mahzooz win came in at such a milestone in Reece’s life, just days before his wedding,” said Farid Samji, chief executive of Ewings, the company that operates the weekly draw.
“Now, the young couple can plan for the future without any financial anxiety, thanks to the life-changing win.
“In a span of four weeks, we had three top prize winners, and we hope that this positive trend will continue and that more people will soon be living the Mahzooz dream.”
People can take part by registering at www.mahzooz.ae
What are NFTs?
Are non-fungible tokens a currency, asset, or a licensing instrument? Arnab Das, global market strategist EMEA at Invesco, says they are mix of all of three.
You can buy, hold and use NFTs just like US dollars and Bitcoins. “They can appreciate in value and even produce cash flows.”
However, while money is fungible, NFTs are not. “One Bitcoin, dollar, euro or dirham is largely indistinguishable from the next. Nothing ties a dollar bill to a particular owner, for example. Nor does it tie you to to any goods, services or assets you bought with that currency. In contrast, NFTs confer specific ownership,” Mr Das says.
This makes NFTs closer to a piece of intellectual property such as a work of art or licence, as you can claim royalties or profit by exchanging it at a higher value later, Mr Das says. “They could provide a sustainable income stream.”
This income will depend on future demand and use, which makes NFTs difficult to value. “However, there is a credible use case for many forms of intellectual property, notably art, songs, videos,” Mr Das says.
Lexus LX700h specs
Engine: 3.4-litre twin-turbo V6 plus supplementary electric motor
Power: 464hp at 5,200rpm
Torque: 790Nm from 2,000-3,600rpm
Transmission: 10-speed auto
Fuel consumption: 11.7L/100km
On sale: Now
Price: From Dh590,000
Company%20profile
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How to watch Ireland v Pakistan in UAE
When: The one-off Test starts on Friday, May 11
What time: Each day’s play is scheduled to start at 2pm UAE time.
TV: The match will be broadcast on OSN Sports Cricket HD. Subscribers to the channel can also stream the action live on OSN Play.
COMPANY PROFILE
Company name: SimpliFi
Started: August 2021
Founder: Ali Sattar
Based: UAE
Industry: Finance, technology
Investors: 4DX, Rally Cap, Raed, Global Founders, Sukna and individuals
David Haye record
Total fights: 32
Wins: 28
Wins by KO: 26
Losses: 4
Jewel of the Expo 2020
252 projectors installed on Al Wasl dome
13.6km of steel used in the structure that makes it equal in length to 16 Burj Khalifas
550 tonnes of moulded steel were raised last year to cap the dome
724,000 cubic metres is the space it encloses
Stands taller than the leaning tower of Pisa
Steel trellis dome is one of the largest single structures on site
The size of 16 tennis courts and weighs as much as 500 elephants
Al Wasl means connection in Arabic
World’s largest 360-degree projection surface
Tewellah by Nawal Zoghbi is out now.
RESULT
Arsenal 2
Sokratis Papastathopoulos 45 4'
Eddie Ntkeiah 51'
Portsmouth 0
UAE currency: the story behind the money in your pockets
Age 26
Born May 17, 1991
Height 1.80 metres
Birthplace Sydney, Australia
Residence Eastbourne, England
Plays Right-handed
WTA titles 3
Prize money US$5,761,870 (Dh21,162,343.75)
Wins / losses 312 / 181
Building boom turning to bust as Turkey's economy slows
Deep in a provincial region of northwestern Turkey, it looks like a mirage - hundreds of luxury houses built in neat rows, their pointed towers somewhere between French chateau and Disney castle.
Meant to provide luxurious accommodations for foreign buyers, the houses are however standing empty in what is anything but a fairytale for their investors.
The ambitious development has been hit by regional turmoil as well as the slump in the Turkish construction industry - a key sector - as the country's economy heads towards what could be a hard landing in an intensifying downturn.
After a long period of solid growth, Turkey's economy contracted 1.1 per cent in the third quarter, and many economists expect it will enter into recession this year.
The country has been hit by high inflation and a currency crisis in August. The lira lost 28 per cent of its value against the dollar in 2018 and markets are still unconvinced by the readiness of the government under President Recep Tayyip Erdogan to tackle underlying economic issues.
The villas close to the town centre of Mudurnu in the Bolu region are intended to resemble European architecture and are part of the Sarot Group's Burj Al Babas project.
But the development of 732 villas and a shopping centre - which began in 2014 - is now in limbo as Sarot Group has sought bankruptcy protection.
It is one of hundreds of Turkish companies that have done so as they seek cover from creditors and to restructure their debts.
The specs
Engine: 1.4-litre 4-cylinder turbo
Power: 180hp at 5,500rpm
Torque: 250Nm at 3,00rpm
Transmission: 5-speed sequential auto
Price: From Dh139,995
On sale: now
Islamophobia definition
A widely accepted definition was made by the All Party Parliamentary Group on British Muslims in 2019: “Islamophobia is rooted in racism and is a type of racism that targets expressions of Muslimness or perceived Muslimness.” It further defines it as “inciting hatred or violence against Muslims”.
ITU Abu Dhabi World Triathlon