Hydra executive Hannah Dodkin has come a long way from her days as a plumber in London.
Hydra executive Hannah Dodkin has come a long way from her days as a plumber in London.

From London to Abu Dhabi: How to turn a pipe dream into reality



ABU DHABI // Not long ago Hannah Dodkin was a plumber in London and if you had asked her then where Abu Dhabi was she would not have been certain. Today she is an executive at one of this country's biggest property firms after having been declared a joint winner last week of one of the Arab world's first reality TV shows. Ms Dodkin, 30, was one of 16 hopefuls on Hydra Executives, competing for the prize of a business investment worth US$1 million (Dh3.67m) from Dr Sulaiman al Fahim, the chief executive of the Hydra property empire.

Despite having been "fired" from the show in week nine, Ms Dodkin, from Somerset in the UK, was brought back to the final in a dramatic twist to become a surprise co-winner with the American architect Richard Best. Today she and Mr Best are putting the prize money to use by setting up an eco-friendly interiors and architecture firm. Ms Dodkin could not have imagined how much her life would change after she applied to appear on the programme. She had moved on from plumbing and was working as an interior design assistant in Britain when a friend told her about the auditions. With a similar format to the hit UK and US shows The Apprentice, Hydra Executives pitted a team of Americans against Britons in a weekly task related to the property industry, such as designing a special-needs centre, after which a contestant from the losing team would be fired.

"I just wanted to refresh my life," Ms Dodkin said. "I wasn't sure where Abu Dhabi was, but I liked the sound of the show." Her immaculately tailored black business suit is in stark contrast to the overalls she donned for her years as a plumber. "What I was open to was a new opportunity and I think I invited it without realising the potential of how it would change my life." She said there was never a question of returning to the UK, whether she lasted on the show or not. "I'd packed my bags and left. I just thought, why don't I live beside a beach with glorious sunshine every day?"

Even before she left the programme she had lobbied for an interview with Hydra. When Dr al Fahim fired her from the show, he was blunt. "She disappointed me and she disappointed her team as well. She can't make it in Hydra," he said. But Ms Dodkin is used to proving her critics wrong and landed not only an interview, but also a job. A year on she is indeed "making it" in Hydra, as a commercial officer.

Ms Dodkin said her experience as a plumber gave her the steely ambition she exudes today. "I was surrounded by men. There are very, very few female plumbers in the UK, very few in the world. When you start as an apprentice, male or female, you are always the young one on site and everybody will give you a tough time to test your ability, but for me that continued. "People would want to see my work and see what I was capable of, but fortunately I was pretty good at plumbing. If anything, in the end the guys felt a bit threatened."

It was that determination and the way she demonstrated her loyalty to the company that persuaded producers to bring her back to the programme as a wild-card in the final, she said. "Loyalty is essential here. They gave me the chance to prove myself." Her task was to negotiate her way back into the show by striking a deal with one of the finalists and she teamed up with Mr Best. "We managed to combine his business plan with mine and we won. I was absolutely thrilled." The pair are now setting up their company.

Ms Dodkin will be a silent partner for the first 12 months or so as she continues her work at Hydra, but her ambitions do not end there. "I've got ideas to do other things myself and I'm currently looking for investors to finance those projects." "I've got several business ideas that feed into the same main one," she said. "It's early days." lmorris@thenational.ae * Additional reporting by Charlie Hamilton

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UAE currency: the story behind the money in your pockets
Five famous companies founded by teens

There are numerous success stories of teen businesses that were created in college dorm rooms and other modest circumstances. Below are some of the most recognisable names in the industry:

  1. Facebook: Mark Zuckerberg and his friends started Facebook when he was a 19-year-old Harvard undergraduate. 
  2. Dell: When Michael Dell was an undergraduate student at Texas University in 1984, he started upgrading computers for profit. He starting working full-time on his business when he was 19. Eventually, his company became the Dell Computer Corporation and then Dell Inc. 
  3. Subway: Fred DeLuca opened the first Subway restaurant when he was 17. In 1965, Mr DeLuca needed extra money for college, so he decided to open his own business. Peter Buck, a family friend, lent him $1,000 and together, they opened Pete’s Super Submarines. A few years later, the company was rebranded and called Subway. 
  4. Mashable: In 2005, Pete Cashmore created Mashable in Scotland when he was a teenager. The site was then a technology blog. Over the next few decades, Mr Cashmore has turned Mashable into a global media company.
  5. Oculus VR: Palmer Luckey founded Oculus VR in June 2012, when he was 19. In August that year, Oculus launched its Kickstarter campaign and raised more than $1 million in three days. Facebook bought Oculus for $2 billion two years later.

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.”

UAE currency: the story behind the money in your pockets
Specs

Engine: Duel electric motors
Power: 659hp
Torque: 1075Nm
On sale: Available for pre-order now
Price: On request

The drill

Recharge as needed, says Mat Dryden: “We try to make it a rule that every two to three months, even if it’s for four days, we get away, get some time together, recharge, refresh.” The couple take an hour a day to check into their businesses and that’s it.

Stick to the schedule, says Mike Addo: “We have an entire wall known as ‘The Lab,’ covered with colour-coded Post-it notes dedicated to our joint weekly planner, content board, marketing strategy, trends, ideas and upcoming meetings.”

Be a team, suggests Addo: “When training together, you have to trust in each other’s abilities. Otherwise working out together very quickly becomes one person training the other.”

Pull your weight, says Thuymi Do: “To do what we do, there definitely can be no lazy member of the team.” 

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Emergency

Director: Kangana Ranaut

Stars: Kangana Ranaut, Anupam Kher, Shreyas Talpade, Milind Soman, Mahima Chaudhry 

Rating: 2/5

Key facilities
  • Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
  • Premier League-standard football pitch
  • 400m Olympic running track
  • NBA-spec basketball court with auditorium
  • 600-seat auditorium
  • Spaces for historical and cultural exploration
  • An elevated football field that doubles as a helipad
  • Specialist robotics and science laboratories
  • AR and VR-enabled learning centres
  • Disruption Lab and Research Centre for developing entrepreneurial skills
Our legal consultant

Name: Dr Hassan Mohsen Elhais

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

Three trading apps to try

Sharad Nair recommends three investment apps for UAE residents:

  • For beginners or people who want to start investing with limited capital, Mr Nair suggests eToro. “The low fees and low minimum balance requirements make the platform more accessible,” he says. “The user interface is straightforward to understand and operate, while its social element may help ease beginners into the idea of investing money by looking to a virtual community.”
  • If you’re an experienced investor, and have $10,000 or more to invest, consider Saxo Bank. “Saxo Bank offers a more comprehensive trading platform with advanced features and insight for more experienced users. It offers a more personalised approach to opening and operating an account on their platform,” he says.
  • Finally, StashAway could work for those who want a hands-off approach to their investing. “It removes one of the biggest challenges for novice traders: picking the securities in their portfolio,” Mr Nair says. “A goal-based approach or view towards investing can help motivate residents who may usually shy away from investment platforms.”