UAE then and now: the Abu Dhabi souq where dreams came true


James Langton
  • English
  • Arabic

Today, life in the Emirates moves in the fast lane. In a regular series to mark the 50th anniversary of the UAE we take a little trip back in time to see just how much the country has changed.

Visiting the area today, it is hard to tell that this was once the commercial heart of old Abu Dhabi.

The district behind the Corniche, south of Khalifa bin Zayed Street and between Al Lulu Street and Sheikh Rashid bin Saaed Street (Airport Road), was the city's original souq.

It was a haphazard warren of barasti and coral stone stalls. Its origins are lost in the mists of time, or at least the 19th century.

In the beginning, mostly fish, vegetables and dried goods were sold.

The influx of oil money in the late 1950s led to the introduction of exotic goods such as Heinz baked beans, tinned peaches and Wrigley's chewing gum.

  • A cheerful trader shows off his wares in the Abu Dhabi souq in 1962. They include Heinz beans, tinned peaches, and, of course, Vimto. Courtesy: Guy Gravett
    A cheerful trader shows off his wares in the Abu Dhabi souq in 1962. They include Heinz beans, tinned peaches, and, of course, Vimto. Courtesy: Guy Gravett
  • The view over Abu Dhabi souq around 1966. Courtesy: Al Ittihad
    The view over Abu Dhabi souq around 1966. Courtesy: Al Ittihad
  • Another trader in the Abu Dhabi souq around 1962. The Flower Box matches he is selling still use the same packaging today. Courtesy: Guy Gravett
    Another trader in the Abu Dhabi souq around 1962. The Flower Box matches he is selling still use the same packaging today. Courtesy: Guy Gravett
  • The interior of Abu Dhabi souq around 1960 with a shop selling bride chests or mandoos. Courtesy: BP Archive
    The interior of Abu Dhabi souq around 1960 with a shop selling bride chests or mandoos. Courtesy: BP Archive
  • An atmospheric shot of the Abu Dhabi souq taken around 1960. Courtesy: BP Archive
    An atmospheric shot of the Abu Dhabi souq taken around 1960. Courtesy: BP Archive
  • The Abu Dhabi souq taken at some point in the late 1970s/early 1980s. Courtesy: Shaukat Ali Sufi Muhammad / Al Ittihad
    The Abu Dhabi souq taken at some point in the late 1970s/early 1980s. Courtesy: Shaukat Ali Sufi Muhammad / Al Ittihad
  • Traders wait for business as a potential customer passes by in the old Abu Dhabi souq around 1962. Courtesy: Guy Gravett
    Traders wait for business as a potential customer passes by in the old Abu Dhabi souq around 1962. Courtesy: Guy Gravett
  • Your weight for the price of a few coins. Abu Dhabi souq in 1974. Courtesy: Jack Burlot
    Your weight for the price of a few coins. Abu Dhabi souq in 1974. Courtesy: Jack Burlot
  • Posing for a street photographer in the Abu Dhabi souq in 1974. Courtesy: Jack Burlot
    Posing for a street photographer in the Abu Dhabi souq in 1974. Courtesy: Jack Burlot
  • A video and cassette shop specialising in Bollywood films and music from the 1990s-era Abu Dhabi souq. Courtesy: Al Ittihad
    A video and cassette shop specialising in Bollywood films and music from the 1990s-era Abu Dhabi souq. Courtesy: Al Ittihad
  • The Abu Dhabi souq taken possibly at late 1970s/early 1980s. Courtesy: Shaukat Ali Sufi Muhammad / Al Ittihad
    The Abu Dhabi souq taken possibly at late 1970s/early 1980s. Courtesy: Shaukat Ali Sufi Muhammad / Al Ittihad
  • How the Abu Dhabi souq looked in 1971, the year the UAE came into existence. Courtesy: Alain Saint Hilaire
    How the Abu Dhabi souq looked in 1971, the year the UAE came into existence. Courtesy: Alain Saint Hilaire
  • Abu Dhabi's old souq in the early 1980s. Courtesy: Clive McNeil
    Abu Dhabi's old souq in the early 1980s. Courtesy: Clive McNeil
  • The 'Modern Radio Centre' shop in Abu Dhabi souq. Courtesy: Al Ittihad
    The 'Modern Radio Centre' shop in Abu Dhabi souq. Courtesy: Al Ittihad
  • The spiral walkways to the pedestrian bridge across Khalifa bin Zayed Street in the 1990s. The Abu Dhabi souq stretched across both sides. The World Trade Centre stands on the same site today along with Burj Mohammed bin Rashid - Abu Dhabi's tallest building. Courtesy: Al Ittihad
    The spiral walkways to the pedestrian bridge across Khalifa bin Zayed Street in the 1990s. The Abu Dhabi souq stretched across both sides. The World Trade Centre stands on the same site today along with Burj Mohammed bin Rashid - Abu Dhabi's tallest building. Courtesy: Al Ittihad
  • The Abu Dhabi souq in the 1990s taken from Hamdan bin Mohammed Street. Courtesy: Shaukat Ali Sufi Muhammad / Al Ittihad
    The Abu Dhabi souq in the 1990s taken from Hamdan bin Mohammed Street. Courtesy: Shaukat Ali Sufi Muhammad / Al Ittihad
  • A 2003 fire destroyed a lot of Abu Dhabi's original souq. Courtesy: Al Ittihad
    A 2003 fire destroyed a lot of Abu Dhabi's original souq. Courtesy: Al Ittihad
  • It was demolished a year later. Courtesy: Al Ittihad
    It was demolished a year later. Courtesy: Al Ittihad
  • Larger plans were in place for the site and construction of the World Trade Centre started soon after. Huge progress can be seen in this 2013 photograph. Jaime Puebla / The National
    Larger plans were in place for the site and construction of the World Trade Centre started soon after. Huge progress can be seen in this 2013 photograph. Jaime Puebla / The National
  • Inside the construction of the World Trade Centre mall project in 2013. Jaime Puebla / The National
    Inside the construction of the World Trade Centre mall project in 2013. Jaime Puebla / The National
  • The World Trade Centre opened in 2014. Part of the development was built in a souq style to mark that history. Ravindranath K / The National
    The World Trade Centre opened in 2014. Part of the development was built in a souq style to mark that history. Ravindranath K / The National
  • Burj Mohammed bin Rashid, Abu Dhabi's tallest building. The tower is part of the World Trade Centre development and represents the city's ever-modernising skyline. Mona Al Marzooqi / The National
    Burj Mohammed bin Rashid, Abu Dhabi's tallest building. The tower is part of the World Trade Centre development and represents the city's ever-modernising skyline. Mona Al Marzooqi / The National

Ambitious plans by Sheikh Zayed, the UAE's Founding Father, for a new modern city in the late 1960s led to the old souq being swept away, along with the Brahman cattle that once roved the stalls and a dusty path that led directly to Qasr Al Hosn.

It was replaced with a concrete version, covering the old site but much expanded. The 1970s souq extended up to Hamdan Street, bisected by Khalifa bin Zayed Street, which was crossed by a pedestrian walkway.

Particularly popular with the city's growing South Asian population, this second souq did not age well, and a fire in 2003 that gutted large sections prompted a decision to knock it down.

It was eventually replaced in 2010 by a complex that includes the World Trade Centre mall and souq, which covers the original footprint. Many of the traders from the 1970s souq still conduct business on the streets around the area.

The older of these photographs shows the second souq and the bridge over Khalifa bin Zayed Street, which has also since been replaced.

It was taken from the large roundabout on Airport Road next to Etihad Square, which has a history of its own, being the site of the Al Fahim Mosque that dated back to the 1940s.

Commissioned by Mohammed Abdul Jalil Al Fahim, of the famous Abu Dhabi business dynasty, its numerous turrets and minarets made it popular with photographers, until it, too, fell to the sands of time. Trading on this spot, then, has been conducted for three centuries.

Today shoppers browse in air-conditioned comfort, with everything on offer from cupcakes to women's lingerie.

There is a Spinneys at the mall and a Lulu hypermarket at the adjacent Central Market.

Customers of the old souq, more accustomed to rice and dried fish, would surely be much impressed at the selection on offer today.

Sleep Well Beast
The National
4AD

The Rub of Time: Bellow, Nabokov, Hitchens, Travolta, Trump and Other Pieces 1986-2016
Martin Amis,
Jonathan Cape

'The Batman'

Stars:Robert Pattinson

Director:Matt Reeves

Rating: 5/5

The End of Loneliness
Benedict Wells
Translated from the German by Charlotte Collins
Sceptre

How Tesla’s price correction has hit fund managers

Investing in disruptive technology can be a bumpy ride, as investors in Tesla were reminded on Friday, when its stock dropped 7.5 per cent in early trading to $575.

It recovered slightly but still ended the week 15 per cent lower and is down a third from its all-time high of $883 on January 26. The electric car maker’s market cap fell from $834 billion to about $567bn in that time, a drop of an astonishing $267bn, and a blow for those who bought Tesla stock late.

The collapse also hit fund managers that have gone big on Tesla, notably the UK-based Scottish Mortgage Investment Trust and Cathie Wood’s ARK Innovation ETF.

Tesla is the top holding in both funds, making up a hefty 10 per cent of total assets under management. Both funds have fallen by a quarter in the past month.

Matt Weller, global head of market research at GAIN Capital, recently warned that Tesla founder Elon Musk had “flown a bit too close to the sun”, after getting carried away by investing $1.5bn of the company’s money in Bitcoin.

He also predicted Tesla’s sales could struggle as traditional auto manufacturers ramp up electric car production, destroying its first mover advantage.

AJ Bell’s Russ Mould warns that many investors buy tech stocks when earnings forecasts are rising, almost regardless of valuation. “When it works, it really works. But when it goes wrong, elevated valuations leave little or no downside protection.”

A Tesla correction was probably baked in after last year’s astonishing share price surge, and many investors will see this as an opportunity to load up at a reduced price.

Dramatic swings are to be expected when investing in disruptive technology, as Ms Wood at ARK makes clear.

Every week, she sends subscribers a commentary listing “stocks in our strategies that have appreciated or dropped more than 15 per cent in a day” during the week.

Her latest commentary, issued on Friday, showed seven stocks displaying extreme volatility, led by ExOne, a leader in binder jetting 3D printing technology. It jumped 24 per cent, boosted by news that fellow 3D printing specialist Stratasys had beaten fourth-quarter revenues and earnings expectations, seen as good news for the sector.

By contrast, computational drug and material discovery company Schrödinger fell 27 per cent after quarterly and full-year results showed its core software sales and drug development pipeline slowing.

Despite that setback, Ms Wood remains positive, arguing that its “medicinal chemistry platform offers a powerful and unique view into chemical space”.

In her weekly video view, she remains bullish, stating that: “We are on the right side of change, and disruptive innovation is going to deliver exponential growth trajectories for many of our companies, in fact, most of them.”

Ms Wood remains committed to Tesla as she expects global electric car sales to compound at an average annual rate of 82 per cent for the next five years.

She said these are so “enormous that some people find them unbelievable”, and argues that this scepticism, especially among institutional investors, “festers” and creates a great opportunity for ARK.

Only you can decide whether you are a believer or a festering sceptic. If it’s the former, then buckle up.

What drives subscription retailing?

Once the domain of newspaper home deliveries, subscription model retailing has combined with e-commerce to permeate myriad products and services.

The concept has grown tremendously around the world and is forecast to thrive further, according to UnivDatos Market Insights’ report on recent and predicted trends in the sector.

The global subscription e-commerce market was valued at $13.2 billion (Dh48.5bn) in 2018. It is forecast to touch $478.2bn in 2025, and include the entertainment, fitness, food, cosmetics, baby care and fashion sectors.

The report says subscription-based services currently constitute “a small trend within e-commerce”. The US hosts almost 70 per cent of recurring plan firms, including leaders Dollar Shave Club, Hello Fresh and Netflix. Walmart and Sephora are among longer established retailers entering the space.

UnivDatos cites younger and affluent urbanites as prime subscription targets, with women currently the largest share of end-users.

That’s expected to remain unchanged until 2025, when women will represent a $246.6bn market share, owing to increasing numbers of start-ups targeting women.

Personal care and beauty occupy the largest chunk of the worldwide subscription e-commerce market, with changing lifestyles, work schedules, customisation and convenience among the chief future drivers.

Name: Peter Dicce

Title: Assistant dean of students and director of athletics

Favourite sport: soccer

Favourite team: Bayern Munich

Favourite player: Franz Beckenbauer

Favourite activity in Abu Dhabi: scuba diving in the Northern Emirates 

 

BMW M5 specs

Engine: 4.4-litre twin-turbo V-8 petrol enging with additional electric motor

Power: 727hp

Torque: 1,000Nm

Transmission: 8-speed auto

Fuel consumption: 10.6L/100km

On sale: Now

Price: From Dh650,000

MATCH INFO

Real Madrid 2 (Benzema 13', Kroos 28')
Barcelona 1 (Mingueza 60')

Red card: Casemiro (Real Madrid)

RESULTS
%3Cp%3E%3Cstrong%3E6pm%3A%20Baniyas%20%E2%80%93%20Group%202%20(PA)%20Dh97%2C500%20(Dirt)%201%2C400m%3C%2Fstrong%3E%3Cbr%3EWinner%3A%20AF%20Alajaj%2C%20Tadhg%20O%E2%80%99Shea%20(jockey)%2C%20Ernst%20Oertel%20(trainer)%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3E6.35pm%3A%20The%20Pointe%20%E2%80%93%20Maiden%20(TB)%20Dh82%2C500%20(D)%201%2C200m%3C%2Fstrong%3E%3Cbr%3EWinner%3A%20Awasef%2C%20Pat%20Dobbs%2C%20Doug%20Watson%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3E7.10pm%3A%20Palm%20West%20Beach%20%E2%80%93%20Maiden%20(TB)%20Dh82%2C500%20(D)%201%2C400m%3C%2Fstrong%3E%3Cbr%3EWinner%3A%20Long%20Kiss%2C%20Jose%20da%20Silva%2C%20Antonio%20Cintra%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3E7.45pm%3A%20The%20View%20at%20the%20Palm%20%E2%80%93%20Handicap%20(TB)%20Dh87%2C500%20(D)%201%2C200m%3C%2Fstrong%3E%3Cbr%3EWinner%3A%20Ranaan%2C%20Tadhg%20O%E2%80%99Shea%2C%20Bhupat%20Seemar%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3E8.20pm%3A%20Nakheel%20%E2%80%93%20Handicap%20(TB)%20Dh105%2C000%20(D)%201%2C400m%3C%2Fstrong%3E%3Cbr%3EWinner%3A%20Raaeb%2C%20Antonio%20Fresu%2C%20Musabah%20Al%20Muhairi%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3E8.55pm%3A%20The%20Club%20%E2%80%93%20Handicap%20(TB)%20Dh95%2C000%20(D)%201%2C900m%3C%2Fstrong%3E%3Cbr%3EWinner%3A%20Qareeb%2C%20Sam%20Hitchcock%2C%20Doug%20Watson%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3E9.30pm%3A%20Palm%20Beach%20Towers%20%E2%80%93%20Handicap%20(TB)%20Dh87%2C500%20(D)%201%2C600m%3C%2Fstrong%3E%3Cbr%3EWinner%3A%20Falsehood%2C%20Adrie%20de%20Vries%2C%20Musabah%20Al%20Muhairi%3C%2Fp%3E%0A

Shubh Mangal Saavdhan
Directed by: RS Prasanna
Starring: Ayushmann Khurrana, Bhumi Pednekar

The specs: Fenyr SuperSport

Price, base: Dh5.1 million

Engine: 3.8-litre twin-turbo flat-six

Transmission: Seven-speed automatic

Power: 800hp @ 7,100pm

Torque: 980Nm @ 4,000rpm

Fuel economy, combined: 13.5L / 100km

The five pillars of Islam

1. Fasting 

2. Prayer 

3. Hajj 

4. Shahada 

5. Zakat 

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

World Cricket League Division 2

In Windhoek, Namibia - Top two teams qualify for the World Cup Qualifier in Zimbabwe, which starts on March 4.

UAE fixtures

Thursday, February 8 v Kenya; Friday, February v Canada; Sunday, February 11 v Nepal; Monday, February 12 v Oman; Wednesday, February 14 v Namibia; Thursday, February 15 final

The specs

Engine: four-litre V6 and 3.5-litre V6 twin-turbo

Transmission: six-speed and 10-speed

Power: 271 and 409 horsepower

Torque: 385 and 650Nm

Price: from Dh229,900 to Dh355,000

The National Archives, Abu Dhabi

Founded over 50 years ago, the National Archives collects valuable historical material relating to the UAE, and is the oldest and richest archive relating to the Arabian Gulf.

Much of the material can be viewed on line at the Arabian Gulf Digital Archive - https://www.agda.ae/en

The Sky Is Pink

Director: Shonali Bose

Cast: Priyanka Chopra Jonas, Farhan Akhtar, Zaira Wasim, Rohit Saraf

Three stars

The Bio

Ram Buxani earned a salary of 125 rupees per month in 1959

Indian currency was then legal tender in the Trucial States.

He received the wages plus food, accommodation, a haircut and cinema ticket twice a month and actuals for shaving and laundry expenses

Buxani followed in his father’s footsteps when he applied for a job overseas

His father Jivat Ram worked in general merchandize store in Gibraltar and the Canary Islands in the early 1930s

Buxani grew the UAE business over several sectors from retail to financial services but is attached to the original textile business

He talks in detail about natural fibres, the texture of cloth, mirrorwork and embroidery 

Buxani lives by a simple philosophy – do good to all