James Caan is probably best known for appearing on the UK television programme Dragons' Den, where he invested more than £1 million (Dh5.7m) in 14 companies. Mr Caan, who is chairman of 90 North Real Estate Partners, talks about expanding his investment advisory firm into the UAE and why he left the TV show.
q&a
q 90 North, which is opening in Dubai, will advise people who want to invest in property in a Sharia-compliant way. Why did you think that was important?
a As a result of the credit crisis, the general appetite for Sharia-compliant investments is a growing market. I see far more interest in the region of people looking at being more conscious. They want to place their capital in an environment that meets their religious requirement. One question is if the global economy would have followed Sharia-compliant [principles] would we have had a credit crisis?
q And what do you think?
a I think we would have been able to avoid a credit crisis. If you look at hedge funds around the world, short-selling is one of the biggest factors for turmoil in markets. The principle of Sharia law is you can't sell something you don't own. Giving people mortgages at interest rates that are uncapped is a fundamental principle that Sharia law doesn't accept.
q Your firm will be establishing partnerships in the Gulf to find property investment opportunities for clients. But given the local property climate, and global economic uncertainty, is this not quite risky?
a I think it's a real good point, and we are very sensitive to identifying [the right] situation. We're looking at real estate opportunities that are very sector-sensitive. One of the issues for us is understanding how to manage risk. If you're just looking for conventional real estate such as the health club sector, that market is quite challenged right now. Right now, my outlook on retail is not very strong because online impact of retailers is quite significant.
q So which opportunities have you identified?
a We've identified student housing, because global demand for education from Asia, Middle East, India and into the UK is set to grow. Currently we don't have enough supply of student accommodations to satisfy needs. Therefore, over 10 years, we see it growing and I think it's a defensive sector to be in. We typically see about £1 billion of real estate every month, which we reject, simply because they don't meet our underlying criteria of how we manage risk.
q You have taken a lot of risk while investing in companies during your four seasons on Dragons' Den. Why did you leave the show?
a The only reason I stepped down was because I literally made so many investments. I didn't want to become a deal junkie. Every entrepreneur wants to spend time with you on their investment and demand time. I thought, 'how many deals can you do where you still maintain the quality with the entrepreneur?' It's not just capital they want. They want a piece of you and your time.
nparmar@thenational.ae
Where can I submit a sample?
Volunteers can now submit DNA samples at a number of centres across Abu Dhabi. The programme is open to all ages.
Collection centres in Abu Dhabi include:
- Abu Dhabi National Exhibition Centre (ADNEC)
- Biogenix Labs in Masdar City
- Al Towayya in Al Ain
- NMC Royal Hospital in Khalifa City
- Bareen International Hospital
- NMC Specialty Hospital, Al Ain
- NMC Royal Medical Centre - Abu Dhabi
- NMC Royal Women’s Hospital.
MATCH INFO
Everton v Tottenham, Sunday, 8.30pm (UAE)
Match is live on BeIN Sports
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
Usain Bolt's time for the 100m at major championships
2008 Beijing Olympics 9.69 seconds
2009 Berlin World Championships 9.58
2011 Daegu World Championships Disqualified
2012 London Olympics 9.63
2013 Moscow World Championships 9.77
2015 Beijing World Championships 9.79
2016 Rio Olympics 9.81
2017 London World Championships 9.95
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RESULTS
Time; race; prize; distance
4pm: Maiden; (D) Dh150,000; 1,200m
Winner: General Line, Xavier Ziani (jockey), Omar Daraj (trainer)
4.35pm: Maiden (T); Dh150,000; 1,600m
Winner: Travis County, Adrie de Vries, Ismail Mohammed
5.10pm: Handicap (D); Dh175,000; 1,200m
Winner: Scrutineer, Tadhg O’Shea, Ali Rashid Al Raihe
5.45pm: Maiden (D); Dh150,000; 1,600m
Winner: Yulong Warrior, Richard Mullen, Satish Seemar
6.20pm: Maiden (D); Dh150,000; 1,600m
Winner: Ejaaby, Jim Crowley, Doug Watson
6.55pm: Handicap (D); Dh160,000; 1,600m
Winner: Storyboard, Richard Mullen, Satish Seemar
7.30pm: Handicap (D); Dh150,000; 2,200m
Winner: Grand Dauphin, Gerald Mosse, Ahmed Al Shemaili
8.05pm: Handicap (T); Dh190,000; 1,800m
Winner: Good Trip, Tadhg O’Shea, Ali Rashid Al Raihe
The White Lotus: Season three
Creator: Mike White
Starring: Walton Goggins, Jason Isaacs, Natasha Rothwell
Rating: 4.5/5
What can you do?
Document everything immediately; including dates, times, locations and witnesses
Seek professional advice from a legal expert
You can report an incident to HR or an immediate supervisor
You can use the Ministry of Human Resources and Emiratisation’s dedicated hotline
In criminal cases, you can contact the police for additional support
The specs
Engine: 3.8-litre, twin-turbo V8
Transmission: eight-speed automatic
Power: 582bhp
Torque: 730Nm
Price: Dh649,000
On sale: now
MATCH INFO
Champions League quarter-final, first leg
Manchester United v Barcelona, Wednesday, 11pm (UAE)
Match on BeIN Sports
The specs
Engine: 1.5-litre 4-cyl turbo
Power: 194hp at 5,600rpm
Torque: 275Nm from 2,000-4,000rpm
Transmission: 6-speed auto
Price: from Dh155,000
On sale: now
COMPANY%20PROFILE%20
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COMPANY%20PROFILE
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States of Passion by Nihad Sirees,
Pushkin Press
The specs
Engine: Four electric motors, one at each wheel
Power: 579hp
Torque: 859Nm
Transmission: Single-speed automatic
Price: From Dh825,900
On sale: Now
