A BMW Z3 sports car wasting away on a side street in Dubai Marina area.
A BMW Z3 sports car wasting away on a side street in Dubai Marina area.
A BMW Z3 sports car wasting away on a side street in Dubai Marina area.
A BMW Z3 sports car wasting away on a side street in Dubai Marina area.

Abandoned, the dream cars of Dubai


  • English
  • Arabic

DUBAI // A few months ago, any one of them probably would have turned heads. Today, few people give them a second glance except, perhaps, to read the latest graffiti scrawled in the thick dust that has obliterated their lustre.

They are the abandoned cars of Dubai, among them Porsches, Mercedes and BMWs. Each was once someone's dream, but now they are unloved, unwanted and making a poor job of fending for themselves on the streets of the city. Take the BMW Z3 wasting away on a side street in Dubai Marina. There is little sadder than the sight of a once proud sports car slumped in the gutter, its top down, tyres all but flat and its gleaming black paint job lost beneath an ever-thickening layer of dust.

But in many parts of the city, such a spectacle is a common sight, and just another reminder that we are living through hard times. "I just think this fellow got hit by the recession, did a runner and left the car behind," says Tom Otton, 27, a Briton who works in marketing and walks past the neglected vehicle each day. There is something about dust-covered cars that brings out the graffiti artist in some people. "Police please wash me," says the message on one of the car's filthy windows.

"This one's been here for a few months," Mr Otton says. "I saw the police taking a look at it a few months go, but nothing since. It's a bit of a mess, really. They've got to get rid of these things." "These things" can be found throughout the city, scores of abandoned vehicles some only for the summer, perhaps, but others clearly forever and among them a surprisingly high number of expensive models.

Just down the road from the bereft BMW is a once-golden Volkswagen Bora, slumped in dust-blown contrast to the smart entrance of the Dubai Marina Yacht Club. The scrawlers have done their best to lower the tone even further, drawing lewd images in the dust. Nearby, an Audi A6 stands in a similar condition. In addition to the mildly offensive drawings, one dust-dauber has anointed the now distinctly unattractive Audi "Sexiest car of the year".

"It looks really ugly, it just looks really bad, you know," says Mohammed el Newishy, the administration manager at the yacht club. He is frustrated by the situation. "It's a problem for the image, because you come to the yacht club and you see these dusty cars in front," he says. The club has called the police to have cars removed, but is still waiting for several to be towed away. "Basically," he says, "if a car is in front of the club for more than a couple of days, we report it to the police."

Like stray dogs, some cars do find their way to police pounds. In one police lot partially hidden behind trees and billboards opposite the Mall of the Emirates, several thousand corralled cars can be glimpsed, waiting in ranks. Abandoned cars can be found almost anywhere. A tour of car parks in Dubai Marina, Downtown Burj Dubai, Tecom, The Greens and the free parking areas behind DIFC turns up more than 60 neglected and apparently abandoned vehicles.

A check on some of the number plates on the Roads and Transport Authority website reveals that many cars have been abandoned after their owners racked up thousands of dirhams in traffic fines; 19 of the 63 vehicles account for 144 fines, to a total of Dh20,879 (US$5,685). The worst offender is a white Mercedes E320 that has been parked for months near The Residences, Downtown Burj Dubai. In addition to collecting a lot of dust, since 2005 it has accumulated 79 fines totalling Dh11,390.

The remains of a notice from the Dubai Municipality Waste Management Department still cling tenaciously to the windshield. Although most of the writing has been worn away by the elements, this statement survives: "Under the authority of local order No 11 of 2003 you are hereby requested to remove the vehicle/machine as it is disfiguring the public view and beauty of the city. Kindly ensure that necessary action is taken within ( ) from the date of the notice."

A few spaces away in the same car park stands another white Mercedes, a C200 Kompressor, in a similarly derelict state. Its owner has three oustanding fines from last year, totalling Dh430. The ever-present, if not particularly inspired, artists have struck: "Please wash me don't have money" adorns the dusty back window. Dubai Police declined to comment, but it seems probable that many of the cars were left by people who walked away after losing their jobs, unable to pay off outstanding loans or find a buyer. Used-car dealers say a wave of unwanted vehicles has flooded the market since the financial crisis struck last year, causing prices to plummet.

One issue facing the police is how to decide whether a vehicle has been abandoned, as opposed to having been simply left for some time in one place. Dubai CID is believed to have a unit dedicated to tracking down cars after being alerted by banks. Nevertheless, Chris Caley, 28, a Briton who lives in Tecom, wonders why one particular silver BMW M3 has gone for half a year without being towed away.

"It's just been left there," he says. Over the months, bits of the car, such as the petrol tank cap, have disappeared. "As you can see, it's been raided for parts." His theory is that the authorities may have overlooked the car because it has foreign number plates. A couple of other cars were taken by the police not long ago, he says. "Maybe they're not taking this one because it's a Saudi plate."

hnaylor@thenational.ae

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.”

JAPANESE GRAND PRIX INFO

Schedule (All times UAE)
First practice: Friday, 5-6.30am
Second practice: Friday, 9-10.30am
Third practice: Saturday, 7-8am
Qualifying: Saturday, 10-11am
Race: Sunday, 9am-midday 

Race venue: Suzuka International Racing Course
Circuit Length: 5.807km
Number of Laps: 53
Watch live: beIN Sports HD

The specs

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Torque: 405Nm at 1,750-3,500rpm

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How to wear a kandura

Dos

  • Wear the right fabric for the right season and occasion 
  • Always ask for the dress code if you don’t know
  • Wear a white kandura, white ghutra / shemagh (headwear) and black shoes for work 
  • Wear 100 per cent cotton under the kandura as most fabrics are polyester

Don’ts 

  • Wear hamdania for work, always wear a ghutra and agal 
  • Buy a kandura only based on how it feels; ask questions about the fabric and understand what you are buying
Indoor cricket in a nutshell

Indoor Cricket World Cup - Sep 16-20, Insportz, Dubai

16 Indoor cricket matches are 16 overs per side

8 There are eight players per team

There have been nine Indoor Cricket World Cups for men. Australia have won every one.

5 Five runs are deducted from the score when a wickets falls

Batsmen bat in pairs, facing four overs per partnership

Scoring In indoor cricket, runs are scored by way of both physical and bonus runs. Physical runs are scored by both batsmen completing a run from one crease to the other. Bonus runs are scored when the ball hits a net in different zones, but only when at least one physical run is score.

Zones

A Front net, behind the striker and wicketkeeper: 0 runs

B Side nets, between the striker and halfway down the pitch: 1 run

Side nets between halfway and the bowlers end: 2 runs

Back net: 4 runs on the bounce, 6 runs on the full

Who was Alfred Nobel?

The Nobel Prize was created by wealthy Swedish chemist and entrepreneur Alfred Nobel.

  • In his will he dictated that the bulk of his estate should be used to fund "prizes to those who, during the preceding year, have conferred the greatest benefit to humankind".
  • Nobel is best known as the inventor of dynamite, but also wrote poetry and drama and could speak Russian, French, English and German by the age of 17. The five original prize categories reflect the interests closest to his heart.
  • Nobel died in 1896 but it took until 1901, following a legal battle over his will, before the first prizes were awarded.
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