DUBAI // The latest addition to Dubai’s skyline is as twisted and quirky on the inside as it is on the outside.
It may have officially opened two days ago, but the “twisting” Cayan Tower in Dubai Marina was still a beehive of activity yesterday with workers hurrying to apply the finishing touches before the first owners could move in.
The interior offers hints to the strange shape of the building, with edges and walls often at jaunty and sometimes contradictory angles, lending the design a fairly odd, eclectic and modern feel.
The 75-floor building rotates through 90 degrees up to a height of 310 metres. Because each floor faces a slightly different degree from the one immediately below, the view from each apartment is unique.
The tower, which took seven years to build, has attracted a great deal of curiosity.
Yesterday, German tourist Cedric Loeb, 54, posed for pictures with his family outside the tower.
“It is a very unusual shape,” he said. “But since I first saw it, I always wondered whether it would be as interesting inside as it is outside.”
At a press conference on Monday, Ahmed Alhatti, the chairman of developer Cayan, said the company had begun calling owners two weeks ago to start the handover process.
“We call our client and he goes to visit the unit, does the snagging and asks for any specification he wants,” Mr Alhatti said.
“Some of them will start to move their possessions in.”
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3 JuneProvincial BarbariansWon 13-7
7 JuneBluesLost 22-16
10 JuneCrusadersWon 12-3
13 JuneHighlandersLost 23-22
17 JuneMaori All BlacksWon 32-10
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24 JuneNew ZealandLost 30-15
27 JuneHurricanes
1 JulyNew Zealand
8 JulyNew Zealand
GAC GS8 Specs
Engine: 2.0-litre 4cyl turbo
Power: 248hp at 5,200rpm
Torque: 400Nm at 1,750-4,000rpm
Transmission: 8-speed auto
Fuel consumption: 9.1L/100km
On sale: Now
Price: From Dh149,900
How to watch Ireland v Pakistan in UAE
When: The one-off Test starts on Friday, May 11
What time: Each day’s play is scheduled to start at 2pm UAE time.
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Specs
Engine: 51.5kW electric motor
Range: 400km
Power: 134bhp
Torque: 175Nm
Price: From Dh98,800
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• Fungi account for roughly 90% of Earth's unknown biodiversity
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PROFILE OF HALAN
Started: November 2017
Founders: Mounir Nakhla, Ahmed Mohsen and Mohamed Aboulnaga
Based: Cairo, Egypt
Sector: transport and logistics
Size: 150 employees
Investment: approximately $8 million
Investors include: Singapore’s Battery Road Digital Holdings, Egypt’s Algebra Ventures, Uber co-founder and former CTO Oscar Salazar
The biog
Age: 46
Number of Children: Four
Hobby: Reading history books
Loves: Sports
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Banned items
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Drones
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Animals
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Fireworks/ flares
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Radios or power banks
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Laser pointers
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Glass
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Selfie sticks/ umbrellas
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Sharp objects
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Political flags or banners
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Bikes, skateboards or scooters
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Spare
Profile
Company name: Spare
Started: March 2018
Co-founders: Dalal Alrayes and Saurabh Shah
Based: UAE
Sector: FinTech
Investment: Own savings. Going for first round of fund-raising in March 2019
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
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You can buy, hold and use NFTs just like US dollars and Bitcoins. “They can appreciate in value and even produce cash flows.”
However, while money is fungible, NFTs are not. “One Bitcoin, dollar, euro or dirham is largely indistinguishable from the next. Nothing ties a dollar bill to a particular owner, for example. Nor does it tie you to to any goods, services or assets you bought with that currency. In contrast, NFTs confer specific ownership,” Mr Das says.
This makes NFTs closer to a piece of intellectual property such as a work of art or licence, as you can claim royalties or profit by exchanging it at a higher value later, Mr Das says. “They could provide a sustainable income stream.”
This income will depend on future demand and use, which makes NFTs difficult to value. “However, there is a credible use case for many forms of intellectual property, notably art, songs, videos,” Mr Das says.
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MATCH INFO
Uefa Champions League semi-finals, first leg
Liverpool v Roma
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The biog
Age: 59
From: Giza Governorate, Egypt
Family: A daughter, two sons and wife
Favourite tree: Ghaf
Runner up favourite tree: Frankincense
Favourite place on Sir Bani Yas Island: “I love all of Sir Bani Yas. Every spot of Sir Bani Yas, I love it.”
Why it pays to compare
A comparison of sending Dh20,000 from the UAE using two different routes at the same time - the first direct from a UAE bank to a bank in Germany, and the second from the same UAE bank via an online platform to Germany - found key differences in cost and speed. The transfers were both initiated on January 30.
Route 1: bank transfer
The UAE bank charged Dh152.25 for the Dh20,000 transfer. On top of that, their exchange rate margin added a difference of around Dh415, compared with the mid-market rate.
Total cost: Dh567.25 - around 2.9 per cent of the total amount
Total received: €4,670.30
Route 2: online platform
The UAE bank’s charge for sending Dh20,000 to a UK dirham-denominated account was Dh2.10. The exchange rate margin cost was Dh60, plus a Dh12 fee.
Total cost: Dh74.10, around 0.4 per cent of the transaction
Total received: €4,756
The UAE bank transfer was far quicker – around two to three working days, while the online platform took around four to five days, but was considerably cheaper. In the online platform transfer, the funds were also exposed to currency risk during the period it took for them to arrive.
Game Changer
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Stars: Ram Charan, Kiara Advani, Anjali, S J Suryah, Jayaram
Rating: 2/5
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Power: 416hp at 7,000rpm
Torque: 410Nm at 3,500rpm
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