Texas Chainsaw Massacre, Poltergeist director in Arabian film first

RAS AL KHAIMAH // The stuntman stands on top of a fort in an abandoned village and waits for one of America's most famous horror film directors to give the order.

A hush falls over the film set as Tobe Hooper points to the man and orders the cameras to roll.

Moments later, a figure leaps from the building, falls 10 metres and lands headfirst on a pile of cardboard boxes.

It was day three of filming on the set of Djinn, the first Arabian horror film to come from Imagenation, the film production arm of Abu Dhabi Media, which owns The National.

Hooper, the director behind The Texas Chain Saw Massacre and Poltergeist, came on board with Imagenation last month, saying that horror films had an international language that transcended all cultures and borders.

"Tobe was definitely top of our list when we sent out the script to Hollywood because he has set trends in the horror genre," said Daniela Tully, the film's German producer. "He kick-started a new trend where most of the gore takes place in your head without actually showing it."

The stuntman who took a dive from the fort in Al Jazira Al Hamra was portraying Bobby, an American backpacker who travels to the UAE and is introduced to the idea of the supernatural spirits, known as djinn, by two young Emiratis. A flashback scene at the beginning of the film shows that Bobby is sceptical about the existence of the spirits. Then he becomes possessed by one. His bloody end marks one of the only gory scenes in the film, said Ms Tully.

"There is not that much blood," she said. "It is more of a supernatural horror rather than a thriller or slasher horror. It is a tale told with a lot of respect for the Emirati traditions and it will stay with you for a long time."

The film is set in 2015 and follows the story of Khaled and Salama, a couple who return home from America to discover their apartment in a luxury high-rise, built on the site of the deserted fishing village, is also home to malevolent beings.

"There is a moral to the story as well," said Ms Tully. "We want to show the beauty of the old sites of heritage in the UAE and send out a message of preservation."

The half-English, half-Arabic film was the first of its kind, said Ms Tully. The filmmaker and UAE diplomat Mohammed al Otaiba is serving as consultant on the film, answering questions and explaining any cultural sensitivities.

Mr al Otaiba, who has worked for the past 10 years for the Ministry of Foreign Affairs, said so far the experience had been fascinating.

"I have really learnt to pay attention to every detail," he said. "The most important things I focus on are language, dialect, expressions and costume. Of course, then there is the aspect of the djinn."

There is a strict rule: no one can mention the word djinn while on set. The measure has been taken out of respect and because it is thought that speaking their name could conjure one up.

"The myths and folklore surrounding the djinn are entrenched in local culture," said Mr al Otaiba. "Belief in their presence depends on your level of faith."

Paul Luebke, the 25-year-old British actor who plays Bobby, has remained as sceptical as his character.

"I wasn't a believer when I came and I'm not really one now," he said.

He is hopeful that working alongside Hooper and the rest of the Imagenation crew will prove a career boost.

"When I was a kid I watched the The Texas Chainsaw Massacre and I was scared to death. So to be here now and working with such a master of his art is amazing. It's really inspirational."

Having completed outdoor shooting, the 70 members of the film's cast and crew move to a purpose-built indoor studio in Dubai today.

Filming will be completed by the end of April, when post-production will start. Ms Tully said there were already plans in place to make a prequel and a sequel. A release date has not yet been announced.

aseaman@thenational.ae

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.”

Citizenship-by-investment programmes

United Kingdom

The UK offers three programmes for residency. The UK Overseas Business Representative Visa lets you open an overseas branch office of your existing company in the country at no extra investment. For the UK Tier 1 Innovator Visa, you are required to invest £50,000 (Dh238,000) into a business. You can also get a UK Tier 1 Investor Visa if you invest £2 million, £5m or £10m (the higher the investment, the sooner you obtain your permanent residency).

All UK residency visas get approved in 90 to 120 days and are valid for 3 years. After 3 years, the applicant can apply for extension of another 2 years. Once they have lived in the UK for a minimum of 6 months every year, they are eligible to apply for permanent residency (called Indefinite Leave to Remain). After one year of ILR, the applicant can apply for UK passport.

The Caribbean

Depending on the country, the investment amount starts from $100,000 (Dh367,250) and can go up to $400,000 in real estate. From the date of purchase, it will take between four to five months to receive a passport.

Portugal

The investment amount ranges from €350,000 to €500,000 (Dh1.5m to Dh2.16m) in real estate. From the date of purchase, it will take a maximum of six months to receive a Golden Visa. Applicants can apply for permanent residency after five years and Portuguese citizenship after six years.

“Among European countries with residency programmes, Portugal has been the most popular because it offers the most cost-effective programme to eventually acquire citizenship of the European Union without ever residing in Portugal,” states Veronica Cotdemiey of Citizenship Invest.

Greece

The real estate investment threshold to acquire residency for Greece is €250,000, making it the cheapest real estate residency visa scheme in Europe. You can apply for residency in four months and citizenship after seven years.

Spain

The real estate investment threshold to acquire residency for Spain is €500,000. You can apply for permanent residency after five years and citizenship after 10 years. It is not necessary to live in Spain to retain and renew the residency visa permit.

Cyprus

Cyprus offers the quickest route to citizenship of a European country in only six months. An investment of €2m in real estate is required, making it the highest priced programme in Europe.

Malta

The Malta citizenship by investment programme is lengthy and investors are required to contribute sums as donations to the Maltese government. The applicant must either contribute at least €650,000 to the National Development & Social Fund. Spouses and children are required to contribute €25,000; unmarried children between 18 and 25 and dependent parents must contribute €50,000 each.

The second step is to make an investment in property of at least €350,000 or enter a property rental contract for at least €16,000 per annum for five years. The third step is to invest at least €150,000 in bonds or shares approved by the Maltese government to be kept for at least five years.

Candidates must commit to a minimum physical presence in Malta before citizenship is granted. While you get residency in two months, you can apply for citizenship after a year.

Egypt

A one-year residency permit can be bought if you purchase property in Egypt worth $100,000. A three-year residency is available for those who invest $200,000 in property, and five years for those who purchase property worth $400,000.

Source: Citizenship Invest and Aqua Properties