Majid Obaid makes it clear from the beginning that he is not building the largest dhow in the world for prestige, but for his father, Obaid Majid.
Mr Obaid does not particularly like attention and does not like to be photographed, although among the newspaper clippings lining the walls of his office halls is an enlarged, two-page report by Emarat Al Youm featuring a blurred photo of Mr Obaid being filmed.
He has been interviewed by CNN, Reuters, and others of global prominence, he says. "You don't know how many times Bentley [Motors Limited] have been here."
Mr Obaid is fond of luxury brands, as is evident by the sparkling Cartier cufflinks he wears with his simple kandora, to match his Cartier watch. “Tomorrow will be Rolex,” he says, and compares these luxury brands to his family’s ship building company, the Obaid Juma bin Suloom Establishment, because of its renowned quality craftsmanship.
Yet above all, Mr Obaid values the lessons taught by his late father, a humble dhow builder who founded the business that he, the eldest son of 17 children, has carried on with his brother Ahmed. “You have to understand, my father is why I have done everything,” he says.
Two dhows are currently under construction at the yard on the banks of the Dubai Creek in Al Jaddaf. One is a 4,500 tonne capacity dhow, which, in most dhow yards, would draw attention for its size. Yet on these sandy shores it is dwarfed by the dhow beside it, a 91-metre long, 11-metre tall ship, with a width of 20 metres.
Mr Obaid, the company's chairman, hopes it will set a Guinness World Record. "Its carrying capacity is approximately 6,500 tonnes, which has, like, never, ever been done by anyone."
His office is just a few meters from the dhow. Photos of his father hang from the walls of his wood-panelled office, and it is decorated with marine trinkets and model ships of all sizes. “You can see [my father], he is a very down to earth man,” he says. “He worked with his hands. He’s actually a craftsman and a sea man and he’s the one who changed the history of dhow building.”
Mr Obaid's father began an apprenticeship at the age of nine in the mid-1940s after he was withdrawn from school for fighting too much with the other children. “My grandfather decided to take him out because he had a lot of energy. He put him in some work where he could take his energy out.”
And later, when Mr Majid came of age, he went to sea. The 1950s were the final days for the sailing of dhows in the Gulf and he travelled to India and East Africa as a master carpenter on a trade dhow, overseeing repairs as it sailed the Indian Ocean.
In the 1960s, he assembled his own team of builders, attracting the best by paying the then-generous wage of 10 Saudi riyals a day.
He travelled to Pakistan in 1975, where he watched the construction of a 280-tonne capacity dhow, a ship that was 100 tonnes larger than the average dhow on Dubai Creek. Mr Majid got hooked on the idea of the mega-dhow and soon secured his first contract for a 300-tonne capacity dhow.
“Everybody was wondering, ‘Oh, Obaid, what you are doing?’
“All the dhow owners and all the captains, they used to be local and all of them said, ‘where will you bring cargo from?'
“And to all of this he said, ‘Allah kareem [God is generous], not a problem’.”
Mr Majid began building dhows of a 400 to 600-tonne capacity, incorporating elements of Pakistani dhow building to increase the cargo hold. He perfected his engineering by descending below deck in stormy weather to listen to the ship’s vibrations. As waves battered the hull, he would learn which areas needed reinforcement.
“He liked competition,” explains Mr Obaid. “He liked always to build the biggest, like Sheikh Mohammed [bin Rashid]. Here, Dubai people, they like a challenge.
“He used to cut the logs, work with the normal people and run the crane. He did everything. He was very strong and always smiling and liked to help everyone.”
When steel ships and fibreglass boats replaced wooden dhows, he kept building.
“There was demand until late eighties. After that, he did not stop working. He would put the keel, get started. If any buyer comes, OK, we’re good. If no buyer comes, Ok. We run it. So he did not stop working," says Mr Obaid.
As the city grew and property prices rose, Mr Majid's shipyard shifted from Al Ras, near his original family home, to Al Gharhood and Al Hamraniya Port, before settling at the current shipyard in Al Jaddaf in 1990.
”He made a brand for himself. Like Rolls-Royce. He always used to tell me that when you agree to make something for someone and you give them a price, don’t try to reduce any of the material or try to save money. You make a dhow as if you are making it for yourself. Consider yourself the customer.”
Mr Obaid grew up at his father’s shipyard and was later trusted to procure the wood. After he took over the business in 1995, he began production of wooden yachts.
Mr Majid passed away in 2009 and the family began to build a dhow in his honour in January 2015. A crew of about 20 men have worked on the dhow for the last two and a half years from 8am until sunset with a midday break.
“Put in mind that we almost lost six months of work,” says Mr Obaid. He had laid the keel and announced his intentions to Guinness, only to be informed that there was a bigger dhow already in Kuwait.
_______________
Read more:
Life on-board a dhow: high stakes at the Al Dhafra Water Festival
Inside the dhows of Abu Dhabi’s Mina Zayed
Launch that may sail into history
_______________
“But it’s attached to a hotel and that one is for conferences and not even in the water,” says Mr Obaid. “It’s used for weddings and dinners. It’s not even in the sea. I can make you one like that that is, like, 20 or 100 kilometres long.”
Guinness checked with their London office, who said a "dhow is a dhow”. So his crew redid the keel and now, in his opinion, the record will be unbeatable.
“Nobody can reach this number. Nobody is able to, nobody. Nobody in the world.”
As for the expense — "whatever it costs, it costs”.
Mr Obaid will put the award in the name of Dubai or the UAE, rather than his own name. He wants the ship named by Sheikh Mohammed bin Rashid, the Dubai Ruler, when it launches later this year.
Once seaworthy, it will carry mixed cargo like cars, cattle and scrap metal around the Arabian Peninsula and the Gulf of Aden.
And what then? A museum, says Mr Obaid. He points to the office around him. He has been collecting. It will be named after his father.
Dubai Bling season three
Cast: Loujain Adada, Zeina Khoury, Farhana Bodi, Ebraheem Al Samadi, Mona Kattan, and couples Safa & Fahad Siddiqui and DJ Bliss & Danya Mohammed
Rating: 1/5
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England's all-time record goalscorers:
Wayne Rooney 53
Bobby Charlton 49
Gary Lineker 48
Jimmy Greaves 44
Michael Owen 40
Tom Finney 30
Nat Lofthouse 30
Alan Shearer 30
Viv Woodward 29
Frank Lampard 29
MISSION: IMPOSSIBLE – FINAL RECKONING
Director: Christopher McQuarrie
Starring: Tom Cruise, Hayley Atwell, Simon Pegg
Rating: 4/5
What%20is%20Dungeons%20%26%20Dragons%3F%20
%3Cp%3EDungeons%20%26amp%3B%20Dragons%20began%20as%20an%20interactive%20game%20which%20would%20be%20set%20up%20on%20a%20table%20in%201974.%20One%20player%20takes%20on%20the%20role%20of%20dungeon%20master%2C%20who%20directs%20the%20game%2C%20while%20the%20other%20players%20each%20portray%20a%20character%2C%20determining%20its%20species%2C%20occupation%20and%20moral%20and%20ethical%20outlook.%20They%20can%20choose%20the%20character%E2%80%99s%20abilities%2C%20such%20as%20strength%2C%20constitution%2C%20dexterity%2C%20intelligence%2C%20wisdom%20and%20charisma.%20In%20layman%E2%80%99s%20terms%2C%20the%20winner%20is%20the%20one%20who%20amasses%20the%20highest%20score.%3C%2Fp%3E%0A
UAE currency: the story behind the money in your pockets
Despacito's dominance in numbers
Released: 2017
Peak chart position: No.1 in more than 47 countries, including the United States, the United Kingdom, Australia and Lebanon
Views: 5.3 billion on YouTube
Sales: With 10 million downloads in the US, Despacito became the first Latin single to receive Diamond sales certification
Streams: 1.3 billion combined audio and video by the end of 2017, making it the biggest digital hit of the year.
Awards: 17, including Record of the Year at last year’s prestigious Latin Grammy Awards, as well as five Billboard Music Awards
Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
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.”
Christopher Robin
Starring: Ewan McGregor, Haley Atwell, Jim Cummings, Peter Capaldi
Three stars
Evacuations to France hit by controversy
- Over 500 Gazans have been evacuated to France since November 2023
- Evacuations were paused after a student already in France posted anti-Semitic content and was subsequently expelled to Qatar
- The Foreign Ministry launched a review to determine how authorities failed to detect the posts before her entry
- Artists and researchers fall under a programme called Pause that began in 2017
- It has benefited more than 700 people from 44 countries, including Syria, Turkey, Iran, and Sudan
- Since the start of the Gaza war, it has also included 45 Gazan beneficiaries
- Unlike students, they are allowed to bring their families to France
The specs
- Engine: 3.9-litre twin-turbo V8
- Power: 640hp
- Torque: 760nm
- On sale: 2026
- Price: Not announced yet
THE SPECS
Engine: 3.5-litre supercharged V6
Power: 416hp at 7,000rpm
Torque: 410Nm at 3,500rpm
Transmission: 6-speed manual
Fuel consumption: 10.2 l/100km
Price: Dh375,000
On sale: now
Specs
Price, base: Dhs850,000
Engine: 3.9-litre twin-turbo V8
Transmission: Seven-speed automatic
Power: 591bhp @ 7,500rpm
Torque: 760Nm @ 3,000rpm
Fuel economy, combined: 11.3L / 100km
Guide to intelligent investing
Investing success often hinges on discipline and perspective. As markets fluctuate, remember these guiding principles:
- Stay invested: Time in the market, not timing the market, is critical to long-term gains.
- Rational thinking: Breathe and avoid emotional decision-making; let logic and planning guide your actions.
- Strategic patience: Understand why you’re investing and allow time for your strategies to unfold.
Gulf Under 19s final
Dubai College A 50-12 Dubai College B
World record transfers
1. Kylian Mbappe - to Real Madrid in 2017/18 - €180 million (Dh770.4m - if a deal goes through)
2. Paul Pogba - to Manchester United in 2016/17 - €105m
3. Gareth Bale - to Real Madrid in 2013/14 - €101m
4. Cristiano Ronaldo - to Real Madrid in 2009/10 - €94m
5. Gonzalo Higuain - to Juventus in 2016/17 - €90m
6. Neymar - to Barcelona in 2013/14 - €88.2m
7. Romelu Lukaku - to Manchester United in 2017/18 - €84.7m
8. Luis Suarez - to Barcelona in 2014/15 - €81.72m
9. Angel di Maria - to Manchester United in 2014/15 - €75m
10. James Rodriguez - to Real Madrid in 2014/15 - €75m
Sting & Shaggy
44/876
(Interscope)
AWARDS
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