Kunal Lahori is the executive director of the Palmon Group, a family business covering a range of sectors that he has been involved in for more than 14 years. He is also the founder of food and beverage ventures El Sur and Prêt To Go. Mr Lahori, 31, from India, has lived in the UAE for 30 years.
Describe your financial journey so far.
It starts with joining the family business. Fortunately for me, I’ve had the opportunity to follow my passion alongside my directorial role in the group, and that’s how El Sur and Prêt To Go were born. There has always been a gap in the market for concepts born in this region, which has helped the financial growth. The F&B movement in this region has finally started going “local” and you see entrepreneurs or “foodpreneurs” from all walks of life entering the business. I’ve diversified into F&B ventures starting with a contemporary Spanish restaurant El Sur at the Westin, and with the launch of Prêt To Go. Overall the financial journey under the F&B ventures has been fruitful.
Are you a spender or saver?
I am a spender, but a sensible one. I am somebody who likes to take financial risks in business. Typically people look for organic growth from their ventures before they proceed to the next one; however, I believe in the brands I build and this is why I signed up five locations for Prêt To Go before opening the first one. I do not like to do things half-heartedly. Essentially I invest because I believe in the project and the market; I won’t hold back in terms of spending on design and finishing nor cut corners on food quality or taste. I trust my business judgment as I have the experience and knowledge behind me to make those confident decisions, so it is sensible not impulsive.
What is your philosophy towards money?
Money needs to be enjoyed, but most importantly money should never define who you are.
Have you made any financial mistakes along the way?
Mistakes are a part of life and it’s fine to make them as long as you learn from them.
What has been your best investment?
I personally believe very strongly in home-grown concepts, and I am investing in many enterprising individuals with unique ideas. Giving local talent a chance in each one of my projects is my modus operandi, be it a local graffiti artist or a cold pressed organic juice partner. I’ve also made a lot of diverse investments from real estate to antiques and cars. My best investment to date has been industrial real estate and also the bond market, although the only one that rewards me personally is my businesses. It is what I live and breathe every day.
If you won Dh1 million, what would you do with it?
Invest it in the business.
Do you plan for the future?
I believe you need to be organised and set goals. My future plan in F&B is to launch my new concept called Meat District, which will happen before the end of the year. In business I try to see the overall plan, spending sensibly and knowing where to put my money. In my personal life I tend to be a little more spontaneous, living for the moment. It’s a nice balance between the two; you’ve got to keep a bit of spontaneity in life.
What do you enjoy spending money on?
On memorable experiences because in the end – that’s what we have – our memories. I am part of select groups that travel for their passion such as my foodie bunch where we go and experience great food whether it is Michelin star restaurants or street food; and a road trip group where we travel in supercars and drive between 2,000 to 4,000 miles across various countries. On the way we stay at private reserves, castles, vineyards, visit car manufacturing facilities, have track days and many interesting adventures.
dalsaadi@thenational.ae
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A MINECRAFT MOVIE
Director: Jared Hess
Starring: Jack Black, Jennifer Coolidge, Jason Momoa
Rating: 3/5
In numbers: PKK’s money network in Europe
Germany: PKK collectors typically bring in $18 million in cash a year – amount has trebled since 2010
Revolutionary tax: Investigators say about $2 million a year raised from ‘tax collection’ around Marseille
Extortion: Gunman convicted in 2023 of demanding $10,000 from Kurdish businessman in Stockholm
Drug trade: PKK income claimed by Turkish anti-drugs force in 2024 to be as high as $500 million a year
Denmark: PKK one of two terrorist groups along with Iranian separatists ASMLA to raise “two-digit million amounts”
Contributions: Hundreds of euros expected from typical Kurdish families and thousands from business owners
TV channel: Kurdish Roj TV accounts frozen and went bankrupt after Denmark fined it more than $1 million over PKK links in 2013
NO OTHER LAND
Director: Basel Adra, Yuval Abraham, Rachel Szor, Hamdan Ballal
Stars: Basel Adra, Yuval Abraham
Rating: 3.5/5
BAD%20BOYS%3A%20RIDE%20OR%20DIE
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COMPANY%20PROFILE
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At a glance
Global events: Much of the UK’s economic woes were blamed on “increased global uncertainty”, which can be interpreted as the economic impact of the Ukraine war and the uncertainty over Donald Trump’s tariffs.
Growth forecasts: Cut for 2025 from 2 per cent to 1 per cent. The OBR watchdog also estimated inflation will average 3.2 per cent this year
Welfare: Universal credit health element cut by 50 per cent and frozen for new claimants, building on cuts to the disability and incapacity bill set out earlier this month
Spending cuts: Overall day-to day-spending across government cut by £6.1bn in 2029-30
Tax evasion: Steps to crack down on tax evasion to raise “£6.5bn per year” for the public purse
Defence: New high-tech weaponry, upgrading HM Naval Base in Portsmouth
Housing: Housebuilding to reach its highest in 40 years, with planning reforms helping generate an extra £3.4bn for public finances
Election pledges on migration
CDU: "Now is the time to control the German borders and enforce strict border rejections"
SPD: "Border closures and blanket rejections at internal borders contradict the spirit of a common area of freedom"
%E2%80%98FSO%20Safer%E2%80%99%20-%20a%20ticking%20bomb
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BMW%20M4%20Competition
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The specS: 2018 Toyota Camry
Price: base / as tested: Dh91,000 / Dh114,000
Engine: 3.5-litre V6
Gearbox: Eight-speed automatic
Power: 298hp @ 6,600rpm
Torque: 356Nm @ 4,700rpm
Fuel economy, combined: 7.0L / 100km
Real estate tokenisation project
Dubai launched the pilot phase of its real estate tokenisation project last month.
The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.
Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.
ABU%20DHABI'S%20KEY%20TOURISM%20GOALS%3A%20BY%20THE%20NUMBERS
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MATCH INFO
What: 2006 World Cup quarter-final
When: July 1
Where: Gelsenkirchen Stadium, Gelsenkirchen, Germany
Result:
England 0 Portugal 0
(Portugal win 3-1 on penalties)
UAE currency: the story behind the money in your pockets
The%20specs
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Company%20Profile
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T20 WORLD CUP QUALIFIER
Results
UAE beat Nigeria by five wickets
Hong Kong beat Canada by 32 runs
Friday fixtures
10am, Tolerance Oval, Abu Dhabi – Ireland v Jersey
7.30pm, Zayed Cricket Stadium, Abu Dhabi – Canada v Oman
Blue%20Beetle
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The more serious side of specialty coffee
While the taste of beans and freshness of roast is paramount to the specialty coffee scene, so is sustainability and workers’ rights.
The bulk of genuine specialty coffee companies aim to improve on these elements in every stage of production via direct relationships with farmers. For instance, Mokha 1450 on Al Wasl Road strives to work predominantly with women-owned and -operated coffee organisations, including female farmers in the Sabree mountains of Yemen.
Because, as the boutique’s owner, Garfield Kerr, points out: “women represent over 90 per cent of the coffee value chain, but are woefully underrepresented in less than 10 per cent of ownership and management throughout the global coffee industry.”
One of the UAE’s largest suppliers of green (meaning not-yet-roasted) beans, Raw Coffee, is a founding member of the Partnership of Gender Equity, which aims to empower female coffee farmers and harvesters.
Also, globally, many companies have found the perfect way to recycle old coffee grounds: they create the perfect fertile soil in which to grow mushrooms.
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The specs
AT4 Ultimate, as tested
Engine: 6.2-litre V8
Power: 420hp
Torque: 623Nm
Transmission: 10-speed automatic
Price: From Dh330,800 (Elevation: Dh236,400; AT4: Dh286,800; Denali: Dh345,800)
On sale: Now
