Thanks Netflix.
I’ve spent the past 15 years trying to convince people that Dubai is not a one-dimensional playground for the rich… and in one bling-tastic piece of lazy, stereotype-affirming programming, you have undone all my efforts.
I will start this with the caveat, that I have only watched one episode of Dubai Bling. I can’t really afford to lose the number of brain cells that would involve me watching any more. There is the possibility that the show miraculously evolves into something watchable after episode one, but I’ll bet my non-Birkin handbag that’s not the case.
It serves up all the tired old tropes — the yacht parties and stretch limos; Michelin-starred dinners and slow-mo exits from private jets; billowing couture gowns and women being compared to Barbie dolls. There's lots of cattiness and so, so, so, so many shots of the Burj Khalifa.
Meanwhile, our erstwhile cast navigate the perils of not having enough wardrobe space, going on the most awkward blind date in history and selecting exactly the right Dh10 million necklace. It manages to be boring and cringeworthy and visually uninspiring all at the same time.
I do not begrudge the cast their diamonds or their supercars or their sea-facing villas and petty squabbles. If this is how they choose to enjoy their wealth and influence, more power to them. A couple of the women, if presented in a different, more considered context, may even be quite inspiring.
And I have no issue with programmes like this being made. I love a bit of trashy reality TV as much as the next girl. Much of my past week has been spent languishing in the third season of Love Is Blind. A woman who is willing to believe that people can fall in love through a wall is not one to be casting aspersions on other people's viewing habits.
We can’t deny that Dubai has a propensity for flashiness and that there are plenty of people here just like those starring in Dubai Bling. The problem occurs when this — and things like The Real Housewives of Dubai — are the only programmes being held up in front a global audience.
When it is not presented alongside an opposing view, Dubai Bling only serves to prop up negative perceptions of Dubai. If this is the only narrative being presented to the outside world, complemented by the odd disparaging article in the Daily Mail, how will anyone ever understand the multi-faceted nature and cultural nuances of this city?
A few weeks ago I was in the UK, trying to explain to a member of my extended family why I love this place so much. I talked about the sense of entrepreneurship and dynamism that is pervasive, at a time when so much of the rest of the world is stagnating. There’s that constant sense of possibility — not to get rich but to build lives, careers and futures that might not be possible in our home countries.
I talked about the people you meet, from all over the world, who bring such layered experiences and viewpoints. I talked about the relationships you form with these people, how they become your family when you are so far from your own. Dubai has opened my mind and given me opportunities that I could not have dreamt of, growing up on the tiny island of Cyprus. What it has provided cannot be measured in designer bags or fancy dresses.
Where are the Netflix shows highlighting all that? Where are the series showing Dubai’s incredible creatives, or entrepreneurs, or the women breaking stereotypes and barriers? Where are the shows exploring the dichotomy of a country that is speeding into the future while carefully trying to preserve its cultural integrity?
Where are all the incredible people I meet on a daily basis through my work as a journalist, who may not be millionaires but who have enriched my life all the same?
Netflix has created genre-subverting content across many languages. It has managed to convince me to watch shows in Spanish, Korean and Swahili. So why, when it comes to Dubai, has it decided to propagate the most tired, dumb and obvious cliches? It doesn't even pretend to try to scratch beneath the surface of this fascinating, so-often-misinterpreted place.
And as a long-time resident of this city, I find that offensive.
Dubai Bling will not be seen as the sensationalised antics of a small segment of society — but as an affirmation of the crassness of us all.
The%20specs
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The specs
Engine: 1.5-litre turbo
Power: 181hp
Torque: 230Nm
Transmission: 6-speed automatic
Starting price: Dh79,000
On sale: Now
The specs: 2018 Dodge Durango SRT
Price, base / as tested: Dh259,000
Engine: 6.4-litre V8
Power: 475hp @ 6,000rpm
Torque: 640Nm @ 4,300rpm
Transmission: Eight-speed automatic
Fuel consumption, combined: 7.7L / 100km
Joker: Folie a Deux
Starring: Joaquin Phoenix, Lady Gaga, Brendan Gleeson
Director: Todd Phillips
Rating: 2/5
UAE currency: the story behind the money in your pockets
EA Sports FC 24
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.”
Tonight's Chat on The National
Tonight's Chat is a series of online conversations on The National. The series features a diverse range of celebrities, politicians and business leaders from around the Arab world.
Tonight’s Chat host Ricardo Karam is a renowned author and broadcaster with a decades-long career in TV. He has previously interviewed Bill Gates, Carlos Ghosn, Andre Agassi and the late Zaha Hadid, among others. Karam is also the founder of Takreem.
Intellectually curious and thought-provoking, Tonight’s Chat moves the conversation forward.
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Specs
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MATCH INFO
Uefa Champions League semi-final, first leg
Tottenham v Ajax, Tuesday, 11pm (UAE).
Second leg
Ajax v Tottenham, Wednesday, May 8, 11pm
Games on BeIN Sports
Six large-scale objects on show
- Concrete wall and windows from the now demolished Robin Hood Gardens housing estate in Poplar
- The 17th Century Agra Colonnade, from the bathhouse of the fort of Agra in India
- A stagecloth for The Ballet Russes that is 10m high – the largest Picasso in the world
- Frank Lloyd Wright’s 1930s Kaufmann Office
- A full-scale Frankfurt Kitchen designed by Margarete Schütte-Lihotzky, which transformed kitchen design in the 20th century
- Torrijos Palace dome