• The next few months are the busiest time of the year for outdoor pursuit shops. Antonie Robertson / The National
    The next few months are the busiest time of the year for outdoor pursuit shops. Antonie Robertson / The National
  • Outdoor furniture and plants for sale at the Garden Concept store in Dubai. Pawan Singh / The National
    Outdoor furniture and plants for sale at the Garden Concept store in Dubai. Pawan Singh / The National
  • Lucy Holmes, marketing manager at the Garden Concept store. Pawan Singh / The National
    Lucy Holmes, marketing manager at the Garden Concept store. Pawan Singh / The National
  • The Cycle Hub in Dubai Motor City enjoyed a boom in business once the Covid-19 lockdown was lifted in 2020. Antonie Robertson / The National
    The Cycle Hub in Dubai Motor City enjoyed a boom in business once the Covid-19 lockdown was lifted in 2020. Antonie Robertson / The National
  • Sam Sayadan, co-founder of The Cycle Hub Shop, said cycling is a year-round activity, but interest piques in the cooler months. Antonie Robertson / The National
    Sam Sayadan, co-founder of The Cycle Hub Shop, said cycling is a year-round activity, but interest piques in the cooler months. Antonie Robertson / The National
  • Hiking is popular among residents in the UAE in the winter. Antonie Robertson / The National
    Hiking is popular among residents in the UAE in the winter. Antonie Robertson / The National
  • Sherief Medhat, head of business at Adventure HQ in Dubai, said people became more aware about having an active lifestyle during the pandemic. Antonie Robertson / The National
    Sherief Medhat, head of business at Adventure HQ in Dubai, said people became more aware about having an active lifestyle during the pandemic. Antonie Robertson / The National
  • Adventure HQ is busy all year round thanks to its Adventure Zone, the family-active entertainment centre for kids aged four to 14. Antonie Robertson / The National
    Adventure HQ is busy all year round thanks to its Adventure Zone, the family-active entertainment centre for kids aged four to 14. Antonie Robertson / The National

Dubai outdoor stores gearing up for a busy winter


Liza Ayach
  • English
  • Arabic

Lower temperatures across the UAE are welcome news for adventure and outdoor stores as retail businesses report strong trading before winter.

Whether it is camping under the stars in the desert, having a barbecue in your back garden or going to the beach, residents will head outdoors when the weather cools.

Data research company Statista said revenue in the UAE sports and outdoor industry is forecast to reach $292.7m in 2022 and grow to $366m by 2025.

Sherief Medhat said cycling, watersports and camping are most popular among residents during the winter. Antonie Robertson / The National
Sherief Medhat said cycling, watersports and camping are most popular among residents during the winter. Antonie Robertson / The National

Adventure HQ, which caters for most outdoor activities, including camping, hiking, and watersports, said the next six months will be the busiest period for its business.

“Our season usually starts once the weather cools down in October up to March,” said Sherief Medhat, 32, head of business at Adventure HQ and Adventure Zone in Times Square, Dubai.

“Cycling and watersports and specifically camping and hiking pick up at that time.

“Tents, sleeping bags, lights, barbecues are mostly sought by customers during this time.”

The Emirati-owned brand was founded in 2011 by Yasser Sharaf and now has seven branches in Dubai and Abu Dhabi.

Mr Medhat said the store is busy all year round thanks to its Adventure Zone, the family-active entertainment centre for kids aged four to 14.

Adventure HQ, like many outdoor pursuits stores, found the coronavirus pandemic proved an unexpected boon.

“A lot of people wanted to try outdoor activities,” he said.

“Bikes were sold out online during the pandemic. During the Covid time, a lot of people started to have awareness about an active lifestyle.”

Emerging market for cycling

Interview with Sam Sayadan, co-founder of TheCycle Hub Shop. Antonie Robertson/The National
Interview with Sam Sayadan, co-founder of TheCycle Hub Shop. Antonie Robertson/The National

The Cycle Hub in Motor City, Dubai, reported a similar increase in business during the pandemic.

The Cycle Hub was co-founded by friends Sam Sayadan, 46, and Khalid Al Zarooni, president of Dubai Sports City, in 2012. They opened a second store in Jumeirah in 2020 and are exploring expansion in Saudi Arabia.

Mr Sayadan said they enjoyed one of the best periods in business once the Covid lockdown was lifted in 2020 — comparable to what happened with the cycling industry globally.

“In the UAE, there was a big rush towards cycling as well,” he told The National.

“After lockdown and when restrictions were still in place, people were not allowed to gather in gyms, so cycling was a proper outdoor activity.

“Cycling could save you from Covid. It’s a fact because it’s a cardiovascular exercise and you won’t get in a room with a bunch of other people.

“So cycling was the antidote to Covid in a way, not a medical antidote, but to bring your body into more strength and health.”

He said once the restrictions were lifted, and people could go out to the beach, restaurants and on holiday, their business “went back to where it was before Covid.”

“There is still some impetus in growing cycling, but I would say the rate declined compared to what it was in Covid time,” he said.

  • Al Qudra cycling track is the longest circuit in Dubai. AFP
    Al Qudra cycling track is the longest circuit in Dubai. AFP
  • Nad Al Sheba is home to a former camel track that now offers cyclists 13km of pathway, with views of Downtown Dubai and Burj Khalifa. Pawan Singh / The National
    Nad Al Sheba is home to a former camel track that now offers cyclists 13km of pathway, with views of Downtown Dubai and Burj Khalifa. Pawan Singh / The National
  • Dubai Autodrome in Motor City also offers a private 2.4km circuit that's good for beginners and veterans alike. Jeffrey E Biteng / The National
    Dubai Autodrome in Motor City also offers a private 2.4km circuit that's good for beginners and veterans alike. Jeffrey E Biteng / The National
  • A 19km bike track connects Al Khawaneej community to the Mushrif Park pathway. Pawan Singh / The National
    A 19km bike track connects Al Khawaneej community to the Mushrif Park pathway. Pawan Singh / The National
  • Bikers can head to Jumeirah Beach, where a recently completed 16km track extends alongside the shoreline. Sarah Dea / The National
    Bikers can head to Jumeirah Beach, where a recently completed 16km track extends alongside the shoreline. Sarah Dea / The National
  • Meydan cycling track is good for families. Victor Besa / The National
    Meydan cycling track is good for families. Victor Besa / The National
  • Dubai Water Canal has cycling lanes. Pawan Singh / The National
    Dubai Water Canal has cycling lanes. Pawan Singh / The National
  • Al Barsha Pond Park also boasts dedicated cycling lanes. Satish Kumar / The National
    Al Barsha Pond Park also boasts dedicated cycling lanes. Satish Kumar / The National
  • Al Warqa in Ras Al Khor has shaded cycling lanes. Satish Kumar / The National
    Al Warqa in Ras Al Khor has shaded cycling lanes. Satish Kumar / The National
  • The cycle track in Mushrif Park. Antonie Robertson / The National
    The cycle track in Mushrif Park. Antonie Robertson / The National
  • Expo 2020 Dubai has 10km of cycling tracks, plus bikes for hire and shaded bike stops. Antonie Robertson / The National
    Expo 2020 Dubai has 10km of cycling tracks, plus bikes for hire and shaded bike stops. Antonie Robertson / The National
  • Dubai Marina and JBR have dedicated cycling lanes. Satish Kumar / The National
    Dubai Marina and JBR have dedicated cycling lanes. Satish Kumar / The National
  • Hatta is a paradise for mountain bikers. Getty Images
    Hatta is a paradise for mountain bikers. Getty Images

Government-led initiatives, such as the development of cycling tracks, have meant the business remains strong.

“In our market, it’s different, because we are still an emerging market globally in terms of cycle facilities and cycle lifestyle in the UAE,” Mr Sayadan said.

“The government, the police, the RTA and their Highnesses are working extremely hard to improve the facilities such as the opening of the cycling track in Jumeirah in February among other places.”

During the cycling season, the Cycle Hub welcomes more than 25,000 customers to the stores each month.

However, Mr Sayadan said that cycling is a year-round activity and that Dubai is growing its network all the time, with tracks in Al Meydan, Jumeirah and Hatta.

“Cyclists usually go out earlier in the morning. In the summer, cyclists who take cycling as a serious hobby go out at 4 or 5am. By 6 or 7am, everyone is finished,” he said.

“Also, during the weekend, if the weather is nice, families are likely to do something outdoors. Dubai is a fantastic opportunity for cycling.

“Hatta, for example, is a beautiful place with wadis (valleys). They also have a rental cycling place there.”

The Cycle Hub organises bike group rides in the UAE for beginners to advanced level. The trips range from 20 kilometres to 85km, with an average speed that is determined by the number of riders in each group.

Busy green fingers

Lucy Holmes, Marketing Manager at The Garden Concept store with her daughter Daisy in Dubai. Pawan Singh / The National
Lucy Holmes, Marketing Manager at The Garden Concept store with her daughter Daisy in Dubai. Pawan Singh / The National

Not all outdoor activity this winter has to do with sports.

Many like to develop their own green spaces at home with plants and flowers, and the cooler weather helps boost garden stores.

Lucy Holmes, 43, marketing manager of The Garden Concept in Al Quoz, said while the season is very much year-round, they see a spike in business when the weather cools down.

“The season for us is from Back to School all the way till March. This is our busiest period when people know they are going to be outside,” she said.

“In September, people start building up their collection of plants, buying new plants for the outdoor, balconies, rooftops, and gardens, reseeding or doing their lawns.

“They are also buying outdoor furniture. Barbecue and camping season also help to sell accessories, but we don't sell tents.

“We're seeing very fast sales on Bougainvillea, Jasmin, Ficus, and the popular coconut palm. We have very good business on our small plants for low grass areas like petunias.”

Part of Saudi Arabia-based The Green Valley Group, The Garden Concept is its only store of its kind to date, but there are plans to expand the brand in the kingdom.

Ms Holmes said changes to regulations governing masks has had a big effect on the business.

“The engagement between our staff and customers has become better after wearing a mask was no longer mandatory,” she said.

“Our customers can now have a better conversation with the staff.

“Easing of restrictions is a massive bonus, everything is open, tourism is open, and we see an uplift in our sales.”

Our family matters legal consultant

Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

LA LIGA FIXTURES

Thursday (All UAE kick-off times)

Sevilla v Real Betis (midnight)

Friday

Granada v Real Betis (9.30pm)

Valencia v Levante (midnight)

Saturday

Espanyol v Alaves (4pm)

Celta Vigo v Villarreal (7pm)

Leganes v Real Valladolid (9.30pm)

Mallorca v Barcelona (midnight)

Sunday

Atletic Bilbao v Atletico Madrid (4pm)

Real Madrid v Eibar (9.30pm)

Real Sociedad v Osasuna (midnight)

SPEC%20SHEET%3A%20APPLE%20IPAD%20PRO%20(12.9%22%2C%202022)
%3Cp%3E%3Cstrong%3EDisplay%3A%3C%2Fstrong%3E%2012.9-inch%20Liquid%20Retina%20XDR%2C%202%2C732%20x%202%2C048%2C%20264ppi%2C%20wide%20colour%2C%20True%20Tone%2C%20ProMotion%2C%201%2C600%20nits%20max%2C%20Apple%20Pencil%20hover%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EChip%3A%3C%2Fstrong%3E%20Apple%20M2%2C%208-core%20CPU%2C%2010-core%20GPU%2C%2016-core%20Neural%20Engine%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EMemory%3A%3C%2Fstrong%3E%20Storage%20%E2%80%93%20128GB%2F256GB%2F512GB%20%2F%201TB%2F2TB%3B%20RAM%20%E2%80%93%208GB%2F16GB%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EPlatform%3A%3C%2Fstrong%3E%20iPadOS%2016%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EMain%20camera%3A%3C%2Fstrong%3E%20Dual%2012MP%20wide%20(f%2F1.8)%20%2B%2010MP%20ultra-wide%20(f%2F2.4)%2C%202x%20optical%2F5x%20digital%2C%20Smart%20HDR%204%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EVideo%3A%3C%2Fstrong%3E%20ProRes%204K%20%40%2030fps%2C%204K%20%40%2024%2F25%2F30%2F60fps%2C%20full%20HD%20%40%2025%2F30%2F60fps%2C%20slo-mo%20%40%20120%2F240fps%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EFront%20camera%3A%3C%2Fstrong%3E%20TrueDepth%2012MP%20ultra-wide%20(f%2F2.4)%2C%202x%2C%20Smart%20HDR%204%2C%20Centre%20Stage%2C%20Portrait%2C%20Animoji%2C%20Memoji%3B%20full%20HD%20%40%2025%2F30%2F60fps%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EAudio%3A%3C%2Fstrong%3E%20Four-speaker%20stereo%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EBiometrics%3A%3C%2Fstrong%3E%20Face%20ID%2C%20Touch%20ID%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EI%2FO%3A%3C%2Fstrong%3E%20USB-C%2C%20smart%20connector%20(for%20folio%2Fkeyboard)%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EBattery%3A%3C%2Fstrong%3E%20Up%20to%2010%20hours%20on%20Wi-Fi%3B%20up%20to%20nine%20hours%20on%20cellular%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EFinish%3A%3C%2Fstrong%3E%20Silver%2C%20space%20grey%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EIn%20the%20box%3A%3C%2Fstrong%3E%20iPad%2C%20USB-C-to-USB-C%20cable%2C%2020-watt%20power%20adapter%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EPrice%3A%3C%2Fstrong%3E%20WiFi%20%E2%80%93%20Dh4%2C599%20(128GB)%20%2F%20Dh4%2C999%20(256GB)%20%2F%20Dh5%2C799%20(512GB)%20%2F%20Dh7%2C399%20(1TB)%20%2F%20Dh8%2C999%20(2TB)%3B%20cellular%20%E2%80%93%20Dh5%2C199%20%2F%20Dh5%2C599%20%2F%20Dh6%2C399%20%2F%20Dh7%2C999%20%2F%20Dh9%2C599%3C%2Fp%3E%0A
Company%20profile
%3Cp%3E%3Cstrong%3ECompany%20name%3A%3C%2Fstrong%3E%20Fasset%0D%3Cbr%3E%3Cstrong%3EStarted%3A%20%3C%2Fstrong%3E2019%0D%3Cbr%3E%3Cstrong%3EFounders%3A%3C%2Fstrong%3E%20Mohammad%20Raafi%20Hossain%2C%20Daniel%20Ahmed%0D%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Dubai%0D%3Cbr%3E%3Cstrong%3ESector%3A%20%3C%2Fstrong%3EFinTech%0D%3Cbr%3E%3Cstrong%3EInitial%20investment%3A%3C%2Fstrong%3E%20%242.45%20million%0D%3Cbr%3E%3Cstrong%3ECurrent%20number%20of%20staff%3A%3C%2Fstrong%3E%2086%0D%3Cbr%3E%3Cstrong%3EInvestment%20stage%3A%3C%2Fstrong%3E%20Pre-series%20B%0D%3Cbr%3E%3Cstrong%3EInvestors%3A%3C%2Fstrong%3E%20Investcorp%2C%20Liberty%20City%20Ventures%2C%20Fatima%20Gobi%20Ventures%2C%20Primal%20Capital%2C%20Wealthwell%20Ventures%2C%20FHS%20Capital%2C%20VN2%20Capital%2C%20local%20family%20offices%3C%2Fp%3E%0A
The specs: 2018 Volkswagen Teramont

Price, base / as tested Dh137,000 / Dh189,950

Engine 3.6-litre V6

Gearbox Eight-speed automatic

Power 280hp @ 6,200rpm

Torque 360Nm @ 2,750rpm

Fuel economy, combined 11.7L / 100km

The specs: 2019 Haval H6

Price, base: Dh69,900

Engine: 2.0-litre turbocharged four-cylinder

Transmission: Seven-speed automatic

Power: 197hp @ 5,500rpm

Torque: 315Nm @ 2,000rpm

Fuel economy, combined: 7.0L / 100km

Electoral College Victory

Trump has so far secured 295 Electoral College votes, according to the Associated Press, exceeding the 270 needed to win. Only Nevada and Arizona remain to be called, and both swing states are leaning Republican. Trump swept all five remaining swing states, North Carolina, Georgia, Pennsylvania, Michigan and Wisconsin, sealing his path to victory and giving him a strong mandate. 

 

Popular Vote Tally

The count is ongoing, but Trump currently leads with nearly 51 per cent of the popular vote to Harris’s 47.6 per cent. Trump has over 72.2 million votes, while Harris trails with approximately 67.4 million.

MATCH INFO

Champions League quarter-final, first leg

Manchester United v Barcelona, Wednesday, 11pm (UAE)

Match on BeIN Sports

The 12 breakaway clubs

England

Arsenal, Chelsea, Liverpool, Manchester City, Manchester United, Tottenham Hotspur

Italy
AC Milan, Inter Milan, Juventus

Spain
Atletico Madrid, Barcelona, Real Madrid

SPECS
%3Cp%3EEngine%3A%20Supercharged%203.5-litre%20V6%0D%3Cbr%3EPower%3A%20400hp%0D%3Cbr%3ETorque%3A%20430Nm%0D%3Cbr%3EOn%20sale%3A%20Now%0D%3Cbr%3EPrice%3A%20From%20Dh450%2C000%0D%3Cbr%3E%3C%2Fp%3E%0A

Isle of Dogs

Director: Wes Anderson

Starring: Bryan Cranston, Liev Schreiber, Ed Norton, Greta Gerwig, Bill Murray, Jeff Goldblum, Scarlett Johansson

Three stars

Real estate tokenisation project

Dubai launched the pilot phase of its real estate tokenisation project last month.

The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.

Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.

Specs

Engine: 51.5kW electric motor

Range: 400km

Power: 134bhp

Torque: 175Nm

Price: From Dh98,800

Available: Now

Israel Palestine on Swedish TV 1958-1989

Director: Goran Hugo Olsson

Rating: 5/5

Yemen's Bahais and the charges they often face

The Baha'i faith was made known in Yemen in the 19th century, first introduced by an Iranian man named Ali Muhammad Al Shirazi, considered the Herald of the Baha'i faith in 1844.

The Baha'i faith has had a growing number of followers in recent years despite persecution in Yemen and Iran. 

Today, some 2,000 Baha'is reside in Yemen, according to Insaf. 

"The 24 defendants represented by the House of Justice, which has intelligence outfits from the uS and the UK working to carry out an espionage scheme in Yemen under the guise of religion.. aimed to impant and found the Bahai sect on Yemeni soil by bringing foreign Bahais from abroad and homing them in Yemen," the charge sheet said. 

Baha'Ullah, the founder of the Bahai faith, was exiled by the Ottoman Empire in 1868 from Iran to what is now Israel. Now, the Bahai faith's highest governing body, known as the Universal House of Justice, is based in the Israeli city of Haifa, which the Bahais turn towards during prayer. 

The Houthis cite this as collective "evidence" of Bahai "links" to Israel - which the Houthis consider their enemy. 

 

Company%20Profile
%3Cp%3E%3Cstrong%3ECompany%3A%3C%2Fstrong%3E%20Astra%20Tech%3Cbr%3E%3Cstrong%3EStarted%3A%20%3C%2Fstrong%3EMarch%202022%3Cbr%3E%3Cstrong%3EBased%3A%20%3C%2Fstrong%3EDubai%3Cbr%3E%3Cstrong%3EFounder%3A%20%3C%2Fstrong%3EAbdallah%20Abu%20Sheikh%3Cbr%3E%3Cstrong%3EIndustry%3A%3C%2Fstrong%3E%20technology%20investment%20and%20development%3Cbr%3E%3Cstrong%3EFunding%20size%3A%3C%2Fstrong%3E%20%24500m%3C%2Fp%3E%0A
Scream%20VI
%3Cp%3E%3Cstrong%3EDirectors%3A%3C%2Fstrong%3E%20Matt%20Bettinelli-Olpin%20and%20Tyler%20Gillett%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStars%3A%3C%2Fstrong%3E%20Melissa%20Barrera%2C%20Jasmin%20Savoy%20Brown%2C%20Jack%20Champion%2C%20Dermot%20Mulroney%2C%20Jenna%20Ortega%2C%20Hayden%20Panettiere%20and%20Courteney%20Cox%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%203%2F5%3C%2Fp%3E%0A
NINE WINLESS GAMES

Arsenal 2-2 Crystal Palace (Oct 27, PL)

Liverpool 5-5 Arsenal  (Oct 30, EFL)

Arsenal 1-1 Wolves (Nov 02, PL)

Vitoria Guimaraes 1-1 Arsenal  (Nov 6, Europa)

Leicester 2-0 Arsenal (Nov 9, PL)

Arsenal 2-2 Southampton (Nov 23, PL)

Arsenal 1-2 Eintracht Frankfurt (Nov 28, Europa)

Norwich 2-2 Arsenal (Dec 01, PL)

Arsenal 1-2 Brighton (Dec 05, PL)

If you go

The flights

There are direct flights from Dubai to Sofia with FlyDubai (www.flydubai.com) and Wizz Air (www.wizzair.com), from Dh1,164 and Dh822 return including taxes, respectively.

The trip

Plovdiv is 150km from Sofia, with an hourly bus service taking around 2 hours and costing $16 (Dh58). The Rhodopes can be reached from Sofia in between 2-4hours.

The trip was organised by Bulguides (www.bulguides.com), which organises guided trips throughout Bulgaria. Guiding, accommodation, food and transfers from Plovdiv to the mountains and back costs around 170 USD for a four-day, three-night trip.

 

COMPANY PROFILE
Name: Almnssa
Started: August 2020
Founder: Areej Selmi
Based: Gaza
Sectors: Internet, e-commerce
Investments: Grants/private funding

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.”

Ten tax points to be aware of in 2026

1. Domestic VAT refund amendments: request your refund within five years

If a business does not apply for the refund on time, they lose their credit.

2. E-invoicing in the UAE

Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption. 

3. More tax audits

Tax authorities are increasingly using data already available across multiple filings to identify audit risks. 

4. More beneficial VAT and excise tax penalty regime

Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.

5. Greater emphasis on statutory audit

There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.

6. Further transfer pricing enforcement

Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes. 

7. Limited time periods for audits

Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion. 

8. Pillar 2 implementation 

Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.

9. Reduced compliance obligations for imported goods and services

Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations. 

10. Substance and CbC reporting focus

Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity. 

Contributed by Thomas Vanhee and Hend Rashwan, Aurifer

Bundesliga fixtures

Saturday, May 16 (kick-offs UAE time)

Borussia Dortmund v Schalke (4.30pm) 

RB Leipzig v Freiburg (4.30pm) 

Hoffenheim v Hertha Berlin (4.30pm) 

Fortuna Dusseldorf v Paderborn  (4.30pm) 

Augsburg v Wolfsburg (4.30pm) 

Eintracht Frankfurt v Borussia Monchengladbach (7.30pm)

Sunday, May 17

Cologne v Mainz (4.30pm),

Union Berlin v Bayern Munich (7pm)

Monday, May 18

Werder Bremen v Bayer Leverkusen (9.30pm)

ONCE UPON A TIME IN GAZA

Starring: Nader Abd Alhay, Majd Eid, Ramzi Maqdisi

Directors: Tarzan and Arab Nasser

Rating: 4.5/5

Book%20Details
%3Cp%3E%3Cem%3EThree%20Centuries%20of%20Travel%20Writing%20by%20Muslim%20Women%3C%2Fem%3E%3Cbr%3E%3Cstrong%3EEditors%3A%20%3C%2Fstrong%3ESiobhan%20Lambert-Hurley%2C%20Daniel%20Majchrowicz%2C%20Sunil%20Sharma%3Cbr%3E%3Cstrong%3EPublisher%3A%20%3C%2Fstrong%3EIndiana%20University%20Press%3B%20532%20pages%3Cbr%3E%3C%2Fp%3E%0A
'Laal Kaptaan'

Director: Navdeep Singh

Stars: Saif Ali Khan, Manav Vij, Deepak Dobriyal, Zoya Hussain

Rating: 2/5

The five stages of early child’s play

From Dubai-based clinical psychologist Daniella Salazar:

1. Solitary Play: This is where Infants and toddlers start to play on their own without seeming to notice the people around them. This is the beginning of play.

2. Onlooker play: This occurs where the toddler enjoys watching other people play. There doesn’t necessarily need to be any effort to begin play. They are learning how to imitate behaviours from others. This type of play may also appear in children who are more shy and introverted.

3. Parallel Play: This generally starts when children begin playing side-by-side without any interaction. Even though they aren’t physically interacting they are paying attention to each other. This is the beginning of the desire to be with other children.

4. Associative Play: At around age four or five, children become more interested in each other than in toys and begin to interact more. In this stage children start asking questions and talking about the different activities they are engaging in. They realise they have similar goals in play such as building a tower or playing with cars.

5. Social Play: In this stage children are starting to socialise more. They begin to share ideas and follow certain rules in a game. They slowly learn the definition of teamwork. They get to engage in basic social skills and interests begin to lead social interactions.

DUBAI WORLD CUP RACE CARD

6.30pm Meydan Classic Trial US$100,000 (Turf) 1,400m

7.05pm Handicap $135,000 (T) 1,400m

7.40pm UAE 2000 Guineas Group Three $250,000 (Dirt) 1,600m

8.15pm Dubai Sprint Listed Handicap $175,000 (T) 1,200m

8.50pm Al Maktoum Challenge Round-2 Group Two $450,000 (D) 1,900m

9.25pm Handicap $135,000 (T) 1,800m

10pm Handicap $135,000 (T) 1,400m

 

The National selections

6.30pm Well Of Wisdom

7.05pm Summrghand

7.40pm Laser Show

8.15pm Angel Alexander

8.50pm Benbatl

9.25pm Art Du Val

10pm: Beyond Reason

Updated: October 23, 2022, 3:30 AM