Jaspal Bal, 39, is a British lighting designer who moved to Dubai 11 years ago. A year ago, he set up his own business, Light Link, based out of Dubai Marina Plaza, with clients including Snap and PwC. Mr Bal lives in his own three-bedroom villa in Arabian Ranches with his maths teacher wife Reena and 10-month-old daughter.
How did your upbringing shape your attitude to money?
A lot of people influenced me – a mix of savers and spenders. I’ve always been drawn to people who are successful but know how to have fun – spontaneity costs money. My mum and dad were factory workers and we moved around when I was a child, from Birmingham in England to northern Punjab in India when I was two, then back to England, to Derby and then to Nottingham. Then we got our own grocery stores. I spent my life living above shops in inner-city areas and my siblings and I (my older sister and younger brother) would help out a lot, either in the shop or going to the Cash & Carry to get stock.
Financially we are not paying gym or nursery fees, not going out and cooking a lot more at home, so it has not been a strain: we're saving Dh5,000-Dh7,000 a month.
Were you paid for the work?
It was a family business so, no. My first paid job was at McDonalds as a 16-year-old on the British minimum wage then. I still remember it – £2.88 (Dh13.47) an hour. I didn’t go to university until I was 21 and then I moved to London to pursue graphic design. I ended up doing security work at the Disney headquarters and then got a job with a lighting company. They took me on because I had a creative side and taught me the technical side of lighting.
What led you to the UAE?
I was working for a consultancy in London and could see things were going downhill as projects started to get put on hold in 2008. A friend in the industry knew someone in Dubai. I’d never been to Dubai but looked at some images online and thought, ‘that looks good'. I had a phone interview and was offered a job at the end of the call. By December 2009 I was packed up and ready to go but then I got a call to say my job in Dubai had been put on hold – but by then I’d quit. Luckily, three weeks later they asked me to come over. Two months after that, I was moved to Sharjah and my salary was cut by 30 per cent. I didn’t recover that salary for several years [as] it became the industry benchmark.
Why did you set up your own business?
I felt the need to do something with my life that was more fulfilling and that gave me more freedom in the long term. Being a good salesman is a fast-paced and, at times, stressful lifestyle. I knew I wouldn’t be able to do it at the highest level forever, so I needed a contingency plan: to manage and grow a business my way. Having had a good career in sales, I was able to save to fund the business myself – and have control over it by self-funding. For the first six months, I didn’t pay myself as I wanted to ensure my staff were taken care of before anything else. I only paid myself when the business was funding itself. It was very close to the bone: if it wasn’t funding itself by then, we would have run out of money. Luckily we didn’t.
How has Covid-19 affected your finances?
We have personal experience with it, as my family contracted the virus in May. We don’t know how we got it, as we have only been to the shops and back and we have been very careful, especially with a baby in the house. It goes to show how contagious it is. Thankfully my daughter was only sick for two days with a fever. My wife and I were sick for around six days. It was like having a flu but with a loss of taste and smell for a week. We have been self-isolating for a month, to be on the safe side, and now have negative test results. Financially we are not paying gym or nursery fees, not going out and cooking a lot more at home, so it has not been a strain: we’re saving Dh5,000-Dh7,000 a month.
Has it affected your business?
As I had to self-isolate, I relied heavily on my staff to take more responsibility for jobs outside of their remit. I am lucky to have understanding clients, who were able to ease off on deadlines while I recovered. As there are a lot of people in the same boat, everyone is showing camaraderie. Because we had such a successful first year in the business, I had recuperated the money I invested. Ongoing projects are moving forward: we’re still delivering, but at a slower pace, which means we are getting paid. Another stumbling block is that one of my key members of staff is stuck in the Philippines; however, she has adapted to UAE times and it has been like she has been in Dubai the whole time.
What luxuries are important to you?
I like spending money on holidays. A few years ago, we went on a big safari trip for two weeks – Zimbabwe, Tanzania, Rwanda to see the gorillas. We spent Dh35,000 on it. A really nice watch or car are not something I define as success; it’s more what experiences I’ve had.
Does money make you happy?
Yes, I guess so, as it allows me to do things. I’m not bothered about having £1 million in savings. Are we financially secure? Can we do what we want to do? That’s what makes me happy. Being able to pay my daughter’s nursery fee even after investing in the business: that made me prouder than anything. I didn’t want to use my wife’s salary.
Do you have any financial regrets?
I spent Dh10,000 on a road bike I never use, even though I live next to a cycle track. I also became reliant at a young age on credit cards, especially here, where you can get credit quite easily and rack up a huge bill. At its worse in 2012, I had Dh50,000 on cards. It’s a bad habit. There’s that fear of missing out and you want to be everywhere – it costs money to be everywhere. When I got into sales and started to earn commission, I had it cleared within a year.
Do you have a philosophy on money?
Someone said once, ‘You don’t get any extra points for being the richest man in the graveyard.’ That’s always stuck with me. I have to be responsible now and I have a family but the family I grew up with were savers and didn’t live their life. Why do we make money? We have to enjoy it. I earn enough to live comfortably. Anything else, I enjoy and have an experience.
Do you use a financial adviser?
I used to but now I manage my own savings. They’re always trying to sell you something. I keep very little in my account: I make sure savings are in my wife’s name, so she and our daughter have everything they need.
Do you own property?
I bought our three-bedroom villa in Arabian Ranches in 2016 for Dh2.25m. It’s probably worth less than Dh1.9m now but we live there so we’re not paying rent. This is my family home, to do what we want with while we’re here.
Do you have a financial plan for the future?
The pandemic has put a lot of long-term planning on hold. We planned to buy property at home this year and start a saving account for my daughter. The future is in the business, growing in other regions. How I see myself retiring is still being a part of the business, albeit a smaller share. My retirement plan would be in properties as well, which takes big cash injections. But if I build the business correctly, I’ll be able to do that.
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
UAE currency: the story behind the money in your pockets
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FFP EXPLAINED
What is Financial Fair Play?
Introduced in 2011 by Uefa, European football’s governing body, it demands that clubs live within their means. Chiefly, spend within their income and not make substantial losses.
What the rules dictate?
The second phase of its implementation limits losses to €30 million (Dh136m) over three seasons. Extra expenditure is permitted for investment in sustainable areas (youth academies, stadium development, etc). Money provided by owners is not viewed as income. Revenue from “related parties” to those owners is assessed by Uefa's “financial control body” to be sure it is a fair value, or in line with market prices.
What are the penalties?
There are a number of punishments, including fines, a loss of prize money or having to reduce squad size for European competition – as happened to PSG in 2014. There is even the threat of a competition ban, which could in theory lead to PSG’s suspension from the Uefa Champions League.
TOP%2010%20MOST%20POLLUTED%20CITIES
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Abu Dhabi Sustainability Week
The specs: 2018 Mercedes-AMG C63 S Cabriolet
Price, base: Dh429,090
Engine 4.0-litre twin-turbo V8
Transmission Seven-speed automatic
Power 510hp @ 5,500rpm
Torque 700Nm @ 1,750rpm
Fuel economy, combined 9.2L / 100km
MATCH INFO
Inter Milan 1 (Martinez 18' pen)
Juventus 2 (Dybala 4', Higuain 80')
More on Quran memorisation:
Result
UAE (S. Tagliabue 90 1') 1-2 Uzbekistan (Shokhruz Norkhonov 48', 86')
'Gehraiyaan'
Director:Shakun Batra
Stars:Deepika Padukone, Siddhant Chaturvedi, Ananya Panday, Dhairya Karwa
Rating: 4/5
COMPANY PROFILE
Name: Grubtech
Founders: Mohamed Al Fayed and Mohammed Hammedi
Launched: October 2019
Employees: 50
Financing stage: Seed round (raised $2 million)
Volvo ES90 Specs
Engine: Electric single motor (96kW), twin motor (106kW) and twin motor performance (106kW)
Power: 333hp, 449hp, 680hp
Torque: 480Nm, 670Nm, 870Nm
On sale: Later in 2025 or early 2026, depending on region
Price: Exact regional pricing TBA
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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
The specs
Engine: 8.0-litre, quad-turbo 16-cylinder
Transmission: 7-speed auto
0-100kmh 2.3 seconds
0-200kmh 5.5 seconds
0-300kmh 11.6 seconds
Power: 1500hp
Torque: 1600Nm
Price: Dh13,400,000
On sale: now
The biog
Name: Abeer Al Shahi
Emirate: Sharjah – Khor Fakkan
Education: Master’s degree in special education, preparing for a PhD in philosophy.
Favourite activities: Bungee jumping
Favourite quote: “My people and I will not settle for anything less than first place” – Sheikh Mohammed bin Rashid.
The specs
- Engine: 3.9-litre twin-turbo V8
- Power: 640hp
- Torque: 760nm
- On sale: 2026
- Price: Not announced yet
Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
Labour dispute
The insured employee may still file an ILOE claim even if a labour dispute is ongoing post termination, but the insurer may suspend or reject payment, until the courts resolve the dispute, especially if the reason for termination is contested. The outcome of the labour court proceedings can directly affect eligibility.
- Abdullah Ishnaneh, Partner, BSA Law
The specs
Engine: 3.8-litre twin-turbo flat-six
Power: 650hp at 6,750rpm
Torque: 800Nm from 2,500-4,000rpm
Transmission: 8-speed dual-clutch auto
Fuel consumption: 11.12L/100km
Price: From Dh796,600
On sale: now
Tips from the expert
Dobromir Radichkov, chief data officer at dubizzle and Bayut, offers a few tips for UAE residents looking to earn some cash from pre-loved items.
- Sellers should focus on providing high-quality used goods at attractive prices to buyers.
- It’s important to use clear and appealing photos, with catchy titles and detailed descriptions to capture the attention of prospective buyers.
- Try to advertise a realistic price to attract buyers looking for good deals, especially in the current environment where consumers are significantly more price-sensitive.
- Be creative and look around your home for valuable items that you no longer need but might be useful to others.
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.
UAE%20PREMIERSHIP
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The National's picks
4.35pm: Tilal Al Khalediah
5.10pm: Continous
5.45pm: Raging Torrent
6.20pm: West Acre
7pm: Flood Zone
7.40pm: Straight No Chaser
8.15pm: Romantic Warrior
8.50pm: Calandogan
9.30pm: Forever Young
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.
UAE currency: the story behind the money in your pockets
Global state-owned investor ranking by size
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UAE currency: the story behind the money in your pockets
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The Sand Castle
Director: Matty Brown
Stars: Nadine Labaki, Ziad Bakri, Zain Al Rafeea, Riman Al Rafeea
Rating: 2.5/5
The five pillars of Islam
Global Fungi Facts
• Scientists estimate there could be as many as 3 million fungal species globally
• Only about 160,000 have been officially described leaving around 90% undiscovered
• Fungi account for roughly 90% of Earth's unknown biodiversity
• Forest fungi help tackle climate change, absorbing up to 36% of global fossil fuel emissions annually and storing around 5 billion tonnes of carbon in the planet's topsoil
MATCH INFO
Wales 1 (Bale 45 3')
Croatia 1 (Vlasic 09')
UAE currency: the story behind the money in your pockets
Killing of Qassem Suleimani
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.
