This year’s Ride Ajman in April drew 165 participants, many of whom took part in the 7 kilometre race. Pawan Singh / The National
This year’s Ride Ajman in April drew 165 participants, many of whom took part in the 7 kilometre race. Pawan Singh / The National
This year’s Ride Ajman in April drew 165 participants, many of whom took part in the 7 kilometre race. Pawan Singh / The National
This year’s Ride Ajman in April drew 165 participants, many of whom took part in the 7 kilometre race. Pawan Singh / The National

Plans for sporting events in Ajman seek to draw visitors


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AJMAN // After hosting the inaugural Ride Ajman cycling event this year, the emirate has big plans for sport and tourism next year.

Faisal Al Nuaimi, head of the tourism authority, hopes that sporting events would help to draw visitors to the emirate.

Next April, cyclists from across the world will compete in the second Ride Ajman, which will feature a 92 kilometre and 7km events. In next February, the Desert Warrior Challenge, obstacle courses held over three days, will draw fans of extreme sports.

“We are pushing sports tourism and physical activities,” Mr Al Nuaimi said. “People want to travel and do things, not just come and do nothing. We also want to encourage people to move, to help keep diabetes and obesity away.”

This year’s Ride Ajman drew 165 participants, many of whom took part in the 7km race. Next year’s event will raise money for the Ajman Club for the Disabled.

Mr Al Nuaimi said efforts to promote tourism should be united, with hotels supporting events by offering accommodation packages to encourage people to extend their stay in Ajman after the events.

With dozens of similar and more established events around the UAE, the incentives for visitors must be high.

“We want people to stay before and after the races,” Mr Al Nuaimi said.

“The hotels didn’t expect the turnout we had for Ride Ajman, so they didn’t focus on how to market the event for themselves. Next year, everyone wants to be a part of it.”

Ride Ajman organisers hope that 400 cyclists would participate in the two events next year.

Despite its proximity to Dubai, many tourists are unaware of Ajman and what it has to offer. “They didn’t expect five-star hotels to be here,” said Mr Al Nuaimi, adding that 65 per cent of cyclists in the inaugural Ride Ajman had never been to the emirate before.

“They see that the prices here are cheaper than in Dubai, it’s not far and it’s better to stay and get up early for the race and enjoy their time here.”

The tourism chief hopes to attract people from across the region and the world.

“Many emirates have focused on particular nationalities, meaning that when those economies got hit they suffered, so we need to make sure we don’t make that mistake,” said Mr Al Nuaimi. “With the sports events, we are trying to customise them to suit people of all ages.”

As well as drawing sports- minded tourists, he said such events would also help to keep residents fit and active.

“We have partnered with two gyms in Ajman that have agreed to help train people for the Desert Warrior Challenge, but I’m 100 per cent sure that holding these events will encourage people to get more active,” said Mr Al Nuaimi.

Outreach to schools and universities was a vital part of the strategy, he said.

Kai Schukowski, general manager of the Ajman Kempinski hotel, said attracting tourists for sporting events would not be easy.

“It won’t bring tourists flocking through the doors, but as another point of the holistic tourism strategy, it’s crucial,” he said.

He said more facilities should be built to exploit the sports market. “We have a lot of European football teams stay with us and we could do so much better if we had better sports venues. The more events we do, the more likely the investment,” said Mr Schukowski.

However, this remains a challenge without a sports council to oversee such development in the emirate.

“We don’t have anyone looking after sports here,” Mr Al Nuaimi said. “We should have a council doing these things. If we have someone specialised in this, we can help promote sports and tourism together.”

mswan@thenational.ae

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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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What can victims do?

Always use only regulated platforms

Stop all transactions and communication on suspicion

Save all evidence (screenshots, chat logs, transaction IDs)

Report to local authorities

Warn others to prevent further harm

Courtesy: Crystal Intelligence

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6pm: Hyderabad Nawabs v Pakhtoon Warriors

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Teams

Chennai Knights, Lahore Sikandars, Pakhtoon Blasters, Abu Dhabi Stars, Abu Dhabi Dragons, Pakhtoon Warriors and Hyderabad Nawabs.

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All teams consist of 15-player squads that include those contracted in the diamond (3), platinum (2) and gold (2) categories, plus eight free to sign team members.

Tournament rules

The matches are of 25 over-a-side with an 8-over power play in which only two fielders allowed outside the 30-yard circle. Teams play in a single round robin league followed by the semi-finals and final. The league toppers will feature in the semi-final eliminator.

Titanium Escrow profile

Started: December 2016
Founder: Ibrahim Kamalmaz
Based: UAE
Sector: Finance / legal
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Stage: Early stage
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4.30pm: Handicap 64,000 (D) 1,950m

UAE currency: the story behind the money in your pockets
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  • Always make sure food is completely cool before freezing.
  • If you’re cooking in large batches, divide into either family-sized or individual portions to freeze.
  • Ensure the food is well wrapped in foil or cling film. Even better, store in fully sealable, labelled containers or zip-lock freezer bags.
  • The easiest and safest way to defrost items such as the stews and sauces mentioned is to do so in the fridge for several hours or overnight.