With a $400,000 price tag, you would expect to sleep pretty soundly on top of the world’s most expensive bed that will go on sale in Dubai next month.
The exorbitant price tag may leave Hastens’ Grand Vividus out of reach for many but the Swedish company said demand for high-end beds has soared during the pandemic.
The top-of-the-range bed made from horsehair, wool and cotton to produce a cloud-like sleep may cost more than your average four-bed Dubai villa, but its creators insist it is worth every dirham.
Since the pandemic we have seen huge interest from people looking to improve their health any way they can
And it is not only sports stars such as Tom Brady, Cristiano Ronaldo, Maria Sharapova and Serena Williams snapping up the luxury beds.
Hollywood stars in need of beauty sleep are also turning to the 170-year-old company, which is the official supplier of beds to Sweden’s royal family.
Angelina Jolie, Sylvester Stallone, Cindy Crawford and Demi Moore are some of the names investing heavily in a good night’s kip.
“We have a very broad customer base,” said Ludovic Letrillart, Hastens’ regional manager in Dubai, who is preparing to open the UAE’s flagship store on Sheikh Zayed Road in April.
“Those who really care about their health and well-being, including wealthy individuals, want to invest in their sleep.
“We also have a particular category of customer who wants the finest things in life, from luxury homes to the fastest cars.
“Since the pandemic we have seen huge interest from people looking to improve their health any way they can.”
The Grand Vividus has been two years in the making and there is already a waiting list ahead of its UAE launch. The company teamed up with Canadian designer Ferris Rafauli to design it.
They are handmade 30 kilometres from Stockholm. It consists of a mattress and base. “There is a waiting list of four to six months for the most premium models,” Mr Letrillart said.
“They take a long time to produce, as they are bespoke and we have a limited number of craftsmen in Sweden. The Grand Vividus is the ultimate sleep solution that we have.”
Aside from the Vividus, the 2000T model is the company’s bestseller and costs a mere $55,000 (Dh200,000).
The BJX Luxury Topper is priced at $57,400 (Dh210,990) and has 37 anti-fungal layers spread across a top, middle and base mattress.
Each bed has a 25-year warranty with strands of horsetail hair acting to keep moisture away and circulate fresh air.
Millions of micro-springs absorb heat to reduce body temperature, to ensure you fall asleep quicker for a long, deep, uninterrupted slumber.
Due to the level of interest, the company will soon offer test-runs of the beds during a hotel stay.
Meanwhile, the eight hours’ sleep recommended to maintain a healthy lifestyle have been in short supply for some during the pandemic, doctors said.
That is hampering the nation’s health and ability to work effectively and has been raised as an issue on World Sleep Day, March 19.
“Of late during the pandemic, we have received increased number of patients complaining about sleep disorders,” said Dr Mahesh Netravalkar, a pulmonologist at NMC Specialty Hospital in Al Ain.
“Many patients have disorders due to anxiety arising out of personal problems, family issues or job loss fears due to the pandemic.
“When left untreated, the negative effects of sleep disorders can lead to further health consequences.”
Sleep deprivation has several repercussions on health including anxiety, irritability, forgetfulness and an increased risk of high blood pressure and Type 2 diabetes.
The drastic change in the community’s lifestyle and daily routine during the pandemic has also caused change to sleep patterns and reduced quality of sleep, experts said.
“Sleep is very important to improve physical and mental health,” said Dr Sawsan Humaida, an internal medicine specialist at Bareen International Hospital in Mohamed bin Zayed City, Abu Dhabi.
“It lets your body and brain repair, restore and re-energise.
“If you don’t get enough sleep, you might experience side effects such as poor memory and focus, weakened immunity and mood changes.
“Sleep deficiency generally increases the risk of heart disease, high blood pressure, diabetes and even stroke.”
SM Town Live is on Friday, April 6 at Autism Rocks Arena, Dubai. Tickets are Dh375 at www.platinumlist.net
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
The Details
Article 15
Produced by: Carnival Cinemas, Zee Studios
Directed by: Anubhav Sinha
Starring: Ayushmann Khurrana, Kumud Mishra, Manoj Pahwa, Sayani Gupta, Zeeshan Ayyub
Our rating: 4/5
Ticket prices
General admission Dh295 (under-three free)
Buy a four-person Family & Friends ticket and pay for only three tickets, so the fourth family member is free
Buy tickets at: wbworldabudhabi.com/en/tickets
Scoreline
Syria 1-1 Australia
Syria Al Somah 85'
Australia Kruse 40'
Like a Fading Shadow
Antonio Muñoz Molina
Translated from the Spanish by Camilo A. Ramirez
Tuskar Rock Press (pp. 310)
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.”
