Mark Drummond is the founder of I Want It Now, an online company that designs and creates bespoke gifts for individuals and retailers such as Virgin Megastore. The Briton moved to the UAE to be with family in 2009 after finishing an interior design degree. The 34-year-old went on to work in design, retail and project management before launching IWIN in Dubai in 2015.
How did your upbringing shape your attitude towards money?
I was brought up in Luton, near London, with a good family that let us do what we wanted to do in life. I’m dyslexic and have always been into art and drawing, creative from a young age. My mother worked in retail, while my father is in construction and previously worked on Euro Disney and London Olympics.
We lived in an average house, didn’t have massive amounts of money, but weren’t poor. My older brother and I were given about £2 (Dh9.65) pocket money a week - we had to cut grass, do the cleaning and wash the cars. Mum and dad have always worked extremely hard, doing some really tough jobs. From that, I learned how to work. It gave me an appreciation of money; you have to have it and know where it comes from. Roll up your sleeves, get stuck in and get your hands dirty. I’ve always been hungry to get money and am driven by earning. I get a sense of achievement when I get paid for what I do.
People talk about a turning point in business – that was it. I was lucky enough to land a contract with Virgin Megastore and sales picked up.
How much were you paid in your first job?
As soon as I was of an age I could get a job, I did. At about 14, I did two paper rounds a week, got paid about £10. I also used to get friends together, knock on doors and offer car washing to buy sweets or go to the cinema.
I was always finding ways to make money. I used to clean carpets, push supermarket trolleys. I’ve never been afraid of hard work, whether it’s McDonald’s, Burger King, KFC, I worked in all; for me it doesn’t matter – work is work.
What brought you to Dubai?
My parents came out in 2007 on holiday and really enjoyed it. My Dad secured a job in Abu Dhabi and moved there. I finished my degree and came here in 2009 - I didn’t really have anywhere else to live. I worked in real estate for a while, then in Zara as a manager in Dubai Mall. I moved across as area manager in Gallery One, then project manager for a company that designs and fits out pop-up shops in malls.
What made you swap job security for a start-up?
I’ve never really enjoyed working for someone else. I find myself thinking I would do things differently. Even though you can make a difference you don’t have 100 per cent control. I like freedom to be creative. While studying I purchased a heat press and set up a business designing and producing t-shirts together with buying in products from independent retailers to sell on. I successfully ran this alongside my degree, until the 2007 recession. I found in Dubai there was a need (for something similar). I did a few markets before leaving my job. The response was really good.
Did you struggle leaving a regular salary?
It was a gamble. I’d been earning Dh20,000 a month, so a big leap to go from permanent job to potentially selling mugs. I’d saved Dh160,000, but 18 months later was down to Dh10,000 due to the cost of living, rent, trade license – money goes extremely quickly. My parents went back to the UK in 2009. The reality was, if I couldn’t make my last Dh10,000 work I’d have to go back too. It was May 2016, that point before summer; markets and events are limited - are you going to have enough to survive for summer? People talk about a turning point in business – that was it. I was lucky enough to land a contract with Virgin Megastore and sales picked up. Slowly we began to make more money. The business model now is different in a lot of ways. We’ve transitioned to online.
Do you have a philosophy towards money?
Money gives you freedom to do what you want so use your money wisely and don’t spend on unnecessary things. Know you are your biggest asset and make sure you’re learning as many new skills as possible.
Are you wise with money?
I don’t have loans. I just have what I earn. I know what’s coming in, what’s going out. When you’re a start-up without investment, you cannot afford to spend where you don’t need to, especially when you’ve peak seasons and quiet times. That’s something I’ve got better at and refined. I run the business at minimal cost, which allows me to survive. I wear many hats. I’ve learned something from every job, which I implement now. It’s taken a long time to make sure I’ve hammered down costs.
Do you prefer to pay by cash or credit card?
I use a good old-fashioned debit card. I’ve never had a credit card. I hate the feeling of buying something and having to pay for it later; for me the enjoyment is gone. I want to pay for stuff there and then.
Is there anything you regret spending on?
A few months before I was down to the last Dh10,000, I outsourced the SEO (search engine optimisation). It was a scam; they were saying they were doing things and when I checked they weren’t, but were still deducting.
Are you a spender or a saver?
I like to spend money going to new places, see what’s new in Dubai. But I also like to get my money’s worth so I use things like The Entertainer, always look for deals. I also spend on the company.
Where do you save?
It’s all into the business. Any surplus is in the bank. Then I know exactly where it is.
What luxuries do you enjoy?
I like to treat myself; I try the latest restaurants, make the most of what’s around. I’m a big fan of experiences. Recently we went to At The Top; we hadn’t been to Burj Khalifa for ages.
What’s been your best investment?
My trade licence because it’s given me the freedom to be my own boss and do what I have passion for.
Do you plan for the future?
I want to travel. I haven’t done as much as I want, so I want enough financial freedom to see a bit of the world, while the business is ticking over. My girlfriend helps run IWIN. I want to get married and have a family down the line.
If you won Dh1m what would you spend it on?
Invest in the business. Number two; I’d buy a ticket for Virgin Galactic. I always wanted to be an astronaut. I knew that I couldn’t, but read about someone who paid to go into space - so to go into space is the ultimate goal. I would sell my business for a ticket. It’s about $250,000.
COMPANY PROFILE
Name: Almnssa
Started: August 2020
Founder: Areej Selmi
Based: Gaza
Sectors: Internet, e-commerce
Investments: Grants/private funding
UAE currency: the story behind the money in your pockets
UNpaid bills:
Countries with largest unpaid bill for UN budget in 2019
USA – $1.055 billion
Brazil – $143 million
Argentina – $52 million
Mexico – $36 million
Iran – $27 million
Israel – $18 million
Venezuela – $17 million
Korea – $10 million
Countries with largest unpaid bill for UN peacekeeping operations in 2019
USA – $2.38 billion
Brazil – $287 million
Spain – $110 million
France – $103 million
Ukraine – $100 million
Killing of Qassem Suleimani
Killing of Qassem Suleimani
The specs: 2018 Opel Mokka X
Price, as tested: Dh84,000
Engine: 1.4L, four-cylinder turbo
Transmission: Six-speed auto
Power: 142hp at 4,900rpm
Torque: 200Nm at 1,850rpm
Fuel economy, combined: 6.5L / 100km
Killing of Qassem Suleimani
Padmaavat
Director: Sanjay Leela Bhansali
Starring: Ranveer Singh, Deepika Padukone, Shahid Kapoor, Jim Sarbh
3.5/5
KILLING OF QASSEM SULEIMANI
Ahmed Raza
UAE cricket captain
Age: 31
Born: Sharjah
Role: Left-arm spinner
One-day internationals: 31 matches, 35 wickets, average 31.4, economy rate 3.95
T20 internationals: 41 matches, 29 wickets, average 30.3, economy rate 6.28
Sarfira
Director: Sudha Kongara Prasad
Starring: Akshay Kumar, Radhika Madan, Paresh Rawal
Rating: 2/5
What are the main cyber security threats?
Cyber crime - This includes fraud, impersonation, scams and deepfake technology, tactics that are increasingly targeting infrastructure and exploiting human vulnerabilities.
Cyber terrorism - Social media platforms are used to spread radical ideologies, misinformation and disinformation, often with the aim of disrupting critical infrastructure such as power grids.
Cyber warfare - Shaped by geopolitical tension, hostile actors seek to infiltrate and compromise national infrastructure, using one country’s systems as a springboard to launch attacks on others.
Citizenship-by-investment programmes
United Kingdom
The UK offers three programmes for residency. The UK Overseas Business Representative Visa lets you open an overseas branch office of your existing company in the country at no extra investment. For the UK Tier 1 Innovator Visa, you are required to invest £50,000 (Dh238,000) into a business. You can also get a UK Tier 1 Investor Visa if you invest £2 million, £5m or £10m (the higher the investment, the sooner you obtain your permanent residency).
All UK residency visas get approved in 90 to 120 days and are valid for 3 years. After 3 years, the applicant can apply for extension of another 2 years. Once they have lived in the UK for a minimum of 6 months every year, they are eligible to apply for permanent residency (called Indefinite Leave to Remain). After one year of ILR, the applicant can apply for UK passport.
The Caribbean
Depending on the country, the investment amount starts from $100,000 (Dh367,250) and can go up to $400,000 in real estate. From the date of purchase, it will take between four to five months to receive a passport.
Portugal
The investment amount ranges from €350,000 to €500,000 (Dh1.5m to Dh2.16m) in real estate. From the date of purchase, it will take a maximum of six months to receive a Golden Visa. Applicants can apply for permanent residency after five years and Portuguese citizenship after six years.
“Among European countries with residency programmes, Portugal has been the most popular because it offers the most cost-effective programme to eventually acquire citizenship of the European Union without ever residing in Portugal,” states Veronica Cotdemiey of Citizenship Invest.
Greece
The real estate investment threshold to acquire residency for Greece is €250,000, making it the cheapest real estate residency visa scheme in Europe. You can apply for residency in four months and citizenship after seven years.
Spain
The real estate investment threshold to acquire residency for Spain is €500,000. You can apply for permanent residency after five years and citizenship after 10 years. It is not necessary to live in Spain to retain and renew the residency visa permit.
Cyprus
Cyprus offers the quickest route to citizenship of a European country in only six months. An investment of €2m in real estate is required, making it the highest priced programme in Europe.
Malta
The Malta citizenship by investment programme is lengthy and investors are required to contribute sums as donations to the Maltese government. The applicant must either contribute at least €650,000 to the National Development & Social Fund. Spouses and children are required to contribute €25,000; unmarried children between 18 and 25 and dependent parents must contribute €50,000 each.
The second step is to make an investment in property of at least €350,000 or enter a property rental contract for at least €16,000 per annum for five years. The third step is to invest at least €150,000 in bonds or shares approved by the Maltese government to be kept for at least five years.
Candidates must commit to a minimum physical presence in Malta before citizenship is granted. While you get residency in two months, you can apply for citizenship after a year.
Egypt
A one-year residency permit can be bought if you purchase property in Egypt worth $100,000. A three-year residency is available for those who invest $200,000 in property, and five years for those who purchase property worth $400,000.
Source: Citizenship Invest and Aqua Properties
Three ways to limit your social media use
Clinical psychologist, Dr Saliha Afridi at The Lighthouse Arabia suggests three easy things you can do every day to cut back on the time you spend online.
1. Put the social media app in a folder on the second or third screen of your phone so it has to remain a conscious decision to open, rather than something your fingers gravitate towards without consideration.
2. Schedule a time to use social media instead of consistently throughout the day. I recommend setting aside certain times of the day or week when you upload pictures or share information.
3. Take a mental snapshot rather than a photo on your phone. Instead of sharing it with your social world, try to absorb the moment, connect with your feeling, experience the moment with all five of your senses. You will have a memory of that moment more vividly and for far longer than if you take a picture of it.
Getting there
The flights
Flydubai operates up to seven flights a week to Helsinki. Return fares to Helsinki from Dubai start from Dh1,545 in Economy and Dh7,560 in Business Class.
The stay
Golden Crown Igloos in Levi offer stays from Dh1,215 per person per night for a superior igloo; www.leviniglut.net
Panorama Hotel in Levi is conveniently located at the top of Levi fell, a short walk from the gondola. Stays start from Dh292 per night based on two people sharing; www. golevi.fi/en/accommodation/hotel-levi-panorama
Arctic Treehouse Hotel in Rovaniemi offers stays from Dh1,379 per night based on two people sharing; www.arctictreehousehotel.com
UPI facts
More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions
THE BIO
Born: Mukalla, Yemen, 1979
Education: UAE University, Al Ain
Family: Married with two daughters: Asayel, 7, and Sara, 6
Favourite piece of music: Horse Dance by Naseer Shamma
Favourite book: Science and geology
Favourite place to travel to: Washington DC
Best advice you’ve ever been given: If you have a dream, you have to believe it, then you will see it.
UAE currency: the story behind the money in your pockets
How much do leading UAE’s UK curriculum schools charge for Year 6?
- Nord Anglia International School (Dubai) – Dh85,032
- Kings School Al Barsha (Dubai) – Dh71,905
- Brighton College Abu Dhabi - Dh68,560
- Jumeirah English Speaking School (Dubai) – Dh59,728
- Gems Wellington International School – Dubai Branch – Dh58,488
- The British School Al Khubairat (Abu Dhabi) - Dh54,170
- Dubai English Speaking School – Dh51,269
*Annual tuition fees covering the 2024/2025 academic year
Brief scores:
Toss: Kerala Knights, opted to fielf
Pakhtoons 109-5 (10 ov)
Fletcher 32; Lamichhane 3-17
Kerala Knights 110-2 (7.5 ov)
Morgan 46 not out, Stirling 40
More Expo 2020 Dubai pavilions:
Where to buy
Limited-edition art prints of The Sofa Series: Sultani can be acquired from Reem El Mutwalli at www.reemelmutwalli.com
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Explainer: Tanween Design Programme
Non-profit arts studio Tashkeel launched this annual initiative with the intention of supporting budding designers in the UAE. This year, three talents were chosen from hundreds of applicants to be a part of the sixth creative development programme. These are architect Abdulla Al Mulla, interior designer Lana El Samman and graphic designer Yara Habib.
The trio have been guided by experts from the industry over the course of nine months, as they developed their own products that merge their unique styles with traditional elements of Emirati design. This includes laboratory sessions, experimental and collaborative practice, investigation of new business models and evaluation.
It is led by British contemporary design project specialist Helen Voce and mentor Kevin Badni, and offers participants access to experts from across the world, including the likes of UK designer Gareth Neal and multidisciplinary designer and entrepreneur, Sheikh Salem Al Qassimi.
The final pieces are being revealed in a worldwide limited-edition release on the first day of Downtown Designs at Dubai Design Week 2019. Tashkeel will be at stand E31 at the exhibition.
Lisa Ball-Lechgar, deputy director of Tashkeel, said: “The diversity and calibre of the applicants this year … is reflective of the dynamic change that the UAE art and design industry is witnessing, with young creators resolute in making their bold design ideas a reality.”
What the law says
Micro-retirement is not a recognised concept or employment status under Federal Decree Law No. 33 of 2021 on the Regulation of Labour Relations (as amended) (UAE Labour Law). As such, it reflects a voluntary work-life balance practice, rather than a recognised legal employment category, according to Dilini Loku, senior associate for law firm Gateley Middle East.
“Some companies may offer formal sabbatical policies or career break programmes; however, beyond such arrangements, there is no automatic right or statutory entitlement to extended breaks,” she explains.
“Any leave taken beyond statutory entitlements, such as annual leave, is typically regarded as unpaid leave in accordance with Article 33 of the UAE Labour Law. While employees may legally take unpaid leave, such requests are subject to the employer’s discretion and require approval.”
If an employee resigns to pursue micro-retirement, the employment contract is terminated, and the employer is under no legal obligation to rehire the employee in the future unless specific contractual agreements are in place (such as return-to-work arrangements), which are generally uncommon, Ms Loku adds.
How to wear a kandura
Dos
- Wear the right fabric for the right season and occasion
- Always ask for the dress code if you don’t know
- Wear a white kandura, white ghutra / shemagh (headwear) and black shoes for work
- Wear 100 per cent cotton under the kandura as most fabrics are polyester
Don’ts
- Wear hamdania for work, always wear a ghutra and agal
- Buy a kandura only based on how it feels; ask questions about the fabric and understand what you are buying
MATCH INFO
Inter Milan v Juventus
Saturday, 10.45pm (UAE)
Watch the match on BeIN Sports
Skewed figures
In the village of Mevagissey in southwest England the housing stock has doubled in the last century while the number of residents is half the historic high. The village's Neighbourhood Development Plan states that 26% of homes are holiday retreats. Prices are high, averaging around £300,000, £50,000 more than the Cornish average of £250,000. The local average wage is £15,458.
Frankenstein in Baghdad
Ahmed Saadawi
Penguin Press
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