DUBAI // An Emirati racing car driver has helped to design the country’s first supercar, which will go into production in a matter of months.
Rashid Al Shaali, who has competed at several events at Yas Marina Circuit, was one of three people who came up with the idea of the Dubai Roadster three years ago.
Now the car is ready to enter production, with the first units expected to go on sale at the Dubai Motorshow next year.
There will probably be only 25 cars built initially, each with a retail cost of about Dh400,000.
Mr Al Shaali, a branding expert for the Dubai government, said the exclusivity of the Roadster would ensure its popularity, at least locally.
“People in this market tend to want something that’s a little special,” he said. “That’s why people spend hundreds of thousands on normal cars, just to make them look a little different.
“The uniqueness of this car and the fact it’s only available in limited numbers will make it popular here.”
Mr Al Shaali used to race a KTM X-Bow, first as a hobby and then semi-professionally at events in the capital.
The idea of launching a supercar was born out of his love of tinkering with his vehicle to get an edge.
“It’s kind of a funny story,” he said. “The idea came when I started upgrading my own car and, trying to get the most out of it, I changed some of the design aspects and aerodynamics.
“Then a group of friends got together and said, let’s start from the beginning, from the inside out. Over a coffee we decided to start building our own car. It’s as simple as that.”
Three years and hundreds of hours of brainstorming later and the car is expected to go into production at a workshop in Dubai in a matter of months.
Among those included in the project is Mostafa Al Dah, a professor in road safety at Loughborough University, UK, who will oversee the engineering aspect of the car.
The production costs for the project are Dh3 to Dh4 million, relatively low to launch a new car from scratch.
The car will have a tubular chassis with a mix of fibreglass and carbon-fibre panels. It will have a 400 horsepower engine and will be capable of accelerating from 0-100kph in 3.5 seconds.
It will undergo full crash testing and will hopefully gain a Euro 5 certification – meaning it will be automatically road legal in the Emirates.
Although it will have track power to rival the KTM X-Bow or BAC Mono, it will be a road car too, Mr Al Shaali said.
Mr Al Shaali was keen to distance himself from the Devel-16, a prototype Emirati supercar showcased at this year’s motor show.
The car caused a great deal of controversy internationally when its makers claimed it had a 5,000 horsepower engine, far exceeding the fastest cars on the market, such as the Bugatti Veyron Super Sport, which has only 1,200bhp.
Mr Al Shaali said the claims stretched credibility, which had a negative impact.
“Even the big manufacturers can’t push their cars to that limit and then suddenly a small company like that comes up and says they can do a better job than any of these players,” he said.
“It had a very negative impact.”
He said he wanted to stick to conservative specifications because of the implications of failure. Launching the very first Emirati supercar was something of a double-edged sword, he said.
“We don’t want the Dubai name or the Emirati name linked to a project that hasn’t actually worked out,” he said. “So we’re being very careful and taking our time.”
Mr Al Shaali owns several supercars, and although there was a time when he used to drive his KTM X-Bow to the office every day, now he sticks with a Mercedes C63 coupe.
He said he didn’t feel a temptation much to open up with a fast car on the roads. “I go to the track almost every weekend, so I get it out of my system.
“When it comes to the roads, I don’t want to sound like an old guy, but I stick to the speed limits.”
mcroucher@thenational.ae
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Date started: 2012
Founder: Amir Barsoum
Based: Dubai, UAE
Sector: HealthTech / MedTech
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Investors: Technology Development Fund, Silicon Badia, Beco Capital, Vostok New Ventures, Endeavour Catalyst, Crescent Enterprises’ CE-Ventures, Saudi Technology Ventures and IFC
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LA LIGA FIXTURES
Thursday (All UAE kick-off times)
Sevilla v Real Betis (midnight)
Friday
Granada v Real Betis (9.30pm)
Valencia v Levante (midnight)
Saturday
Espanyol v Alaves (4pm)
Celta Vigo v Villarreal (7pm)
Leganes v Real Valladolid (9.30pm)
Mallorca v Barcelona (midnight)
Sunday
Atletic Bilbao v Atletico Madrid (4pm)
Real Madrid v Eibar (9.30pm)
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Where to donate in the UAE
The Emirates Charity Portal
You can donate to several registered charities through a “donation catalogue”. The use of the donation is quite specific, such as buying a fan for a poor family in Niger for Dh130.
The General Authority of Islamic Affairs & Endowments
The site has an e-donation service accepting debit card, credit card or e-Dirham, an electronic payment tool developed by the Ministry of Finance and First Abu Dhabi Bank.
Al Noor Special Needs Centre
You can donate online or order Smiles n’ Stuff products handcrafted by Al Noor students. The centre publishes a wish list of extras needed, starting at Dh500.
Beit Al Khair Society
Beit Al Khair Society has the motto “From – and to – the UAE,” with donations going towards the neediest in the country. Its website has a list of physical donation sites, but people can also contribute money by SMS, bank transfer and through the hotline 800-22554.
Dar Al Ber Society
Dar Al Ber Society, which has charity projects in 39 countries, accept cash payments, money transfers or SMS donations. Its donation hotline is 800-79.
Dubai Cares
Dubai Cares provides several options for individuals and companies to donate, including online, through banks, at retail outlets, via phone and by purchasing Dubai Cares branded merchandise. It is currently running a campaign called Bookings 2030, which allows people to help change the future of six underprivileged children and young people.
Emirates Airline Foundation
Those who travel on Emirates have undoubtedly seen the little donation envelopes in the seat pockets. But the foundation also accepts donations online and in the form of Skywards Miles. Donated miles are used to sponsor travel for doctors, surgeons, engineers and other professionals volunteering on humanitarian missions around the world.
Emirates Red Crescent
On the Emirates Red Crescent website you can choose between 35 different purposes for your donation, such as providing food for fasters, supporting debtors and contributing to a refugee women fund. It also has a list of bank accounts for each donation type.
Gulf for Good
Gulf for Good raises funds for partner charity projects through challenges, like climbing Kilimanjaro and cycling through Thailand. This year’s projects are in partnership with Street Child Nepal, Larchfield Kids, the Foundation for African Empowerment and SOS Children's Villages. Since 2001, the organisation has raised more than $3.5 million (Dh12.8m) in support of over 50 children’s charities.
Noor Dubai Foundation
Sheikh Mohammed bin Rashid Al Maktoum launched the Noor Dubai Foundation a decade ago with the aim of eliminating all forms of preventable blindness globally. You can donate Dh50 to support mobile eye camps by texting the word “Noor” to 4565 (Etisalat) or 4849 (du).
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FIXTURES
West Asia Premiership
Dubai Hurricanes v Dubai Knights Eagles
Dubai Tigers v Bahrain
Jebel Ali Dragons v Abu Dhabi Harlequins
UAE Division 1
Dubai Sharks v Dubai Hurricanes II
Al Ain Amblers v Dubai Knights Eagles II
Dubai Tigers II v Abu Dhabi Saracens
Jebel Ali Dragons II v Abu Dhabi Harlequins II
Sharjah Wanderers v Dubai Exiles II
LAST SEASON
West Asia Premiership
Winners – Bahrain
Runners-up – Dubai Exiles
UAE Premiership
Winners – Abu Dhabi Harlequins
Runners-up – Jebel Ali Dragons
Dubai Rugby Sevens
Winners – Dubai Hurricanes
Runners-up – Abu Dhabi Harlequins
UAE Conference
Winners – Dubai Tigers
Runners-up – Al Ain Amblers
Young women have more “financial grit”, but fall behind on investing
In an October survey of young adults aged 16 to 25, Charles Schwab found young women are more driven to reach financial independence than young men (67 per cent versus. 58 per cent). They are more likely to take on extra work to make ends meet and see more value than men in creating a plan to achieve their financial goals. Yet, despite all these good ‘first’ measures, they are investing and saving less than young men – falling early into the financial gender gap.
While the women surveyed report spending 36 per cent less than men, they have far less savings than men ($1,267 versus $2,000) – a nearly 60 per cent difference.
In addition, twice as many young men as women say they would invest spare cash, and almost twice as many young men as women report having investment accounts (though most young adults do not invest at all).
“Despite their good intentions, young women start to fall behind their male counterparts in savings and investing early on in life,” said Carrie Schwab-Pomerantz, senior vice president, Charles Schwab. “They start off showing a strong financial planning mindset, but there is still room for further education when it comes to managing their day-to-day finances.”
Ms Schwab-Pomerantz says parents should be conveying the same messages to boys and girls about money, but should tailor those conversations based on the individual and gender.
"Our study shows that while boys are spending more than girls, they also are saving more. Have open and honest conversations with your daughters about the wage and savings gap," she said. "Teach kids about the importance of investing – especially girls, who as we see in this study, aren’t investing as much. Part of being financially prepared is learning to make the most of your money, and that means investing early and consistently."