ABU DHABI // Kongsak Yuktasevi’s brief was as simple as it was daunting – to design the interior of Emirates Palace, the world’s most expensive and luxurious hotel.
His vision was four years in the making and came with “an open budget” to spend as he saw fit.
Strolling through the landmark almost a decade after it welcomed its first guests, Mr Yuktasevi says he is still more than satisfied with the results.
“This was not a hotel by design; a hotel is only for business purposes. This truly was a palace,” he said. “We are very happy with the result.”
Emirates Palace opened in November 2005 and Mr Yuktasevi was involved in everything from choosing the colour of the walls in its 302 rooms and 92 suites, to picking the upholstery for the chairs.
“It may be one of the largest hotels in the world in terms of area but I think one of the things we did successfully was to scale down such a huge space,” said the managing director of Leo International Design Group in Thailand.
“When you walk in you still feel comfortable, you don’t feel overcome by the space.
“I came up with the concept that when you walk through every area of the hotel you feel the continuation of the space, right down to the small details and motifs.”
Mr Yuktasevi is no stranger to the high demands that come with such grand buildings. He has designed the interiors of two palaces for the ruler of Bahrain as well as the Royal Paradise Hotel in Phuket, Traders Hotel in Yangon, Myanmar, and the Dusit Nikko Hotel in Manila among others.
Despite a huge array of features including a grand ballroom, sprawling corridors and giant guest rooms, it is the smaller areas of the hotel that Mr Yuktasevi likes the most such as the east wing rooms, where the central lobby is more compact than the open spaces of much of the rest of the building.
“This place is my favourite, I think. It is much smaller, more human, I think,” said Mr Yuktasevi, from Thailand.
The lobby’s standout attraction is a room-length water feature, with small fountains leading to the end of the wing.
Creating the illusion of intimacy in a building of such scale was a major challenge for Mr Yuktasevi’s design team.
“Everyone had the same expectation,” he said. “They wanted a stunning feeling when they walk in.
“Originally we had seating areas in the main atrium, elevated, because the ceiling was so high. But it was decided that the atrium should be empty, and now everyone who walks into the hotel stops and looks up at the dome.
“Stunning is what people expect. I think my achievement is definitely still in the atrium, the mosaic on the dome.
“We had five or six alternatives for that design and a lot of work went into it.
“Personally I always wanted a more intimate feeling and I think we managed that for a lot of the hotel. It was one of the things I think we did well.”
The designer was back at the hotel yesterday to go over plans for a revamped guest area.
Set to be completed by the end of the year, it will feature an Emirati coffee shop, retail space and a new bar.
“It is going to be very cosy, more lively and colourful,” Mr Yuktasevi said.
“This gives visitors a nice place to sit, have a drink and buy some souvenirs.
“It will add new feeling to Emirates Palace, it is a bit fun, and a bit trendy. It is stepping away from the formality of the rest of the Palace. It really will add some life to the hotel.
“It has a real sense of entertainment, but it will still blend with the rest of the hotel.”
ksinclair@thenational.ae
NO OTHER LAND
Director: Basel Adra, Yuval Abraham, Rachel Szor, Hamdan Ballal
Stars: Basel Adra, Yuval Abraham
Rating: 3.5/5
if you go
The flights
Emirates flies to Delhi with fares starting from around Dh760 return, while Etihad fares cost about Dh783 return. From Delhi, there are connecting flights to Lucknow.
Where to stay
It is advisable to stay in Lucknow and make a day trip to Kannauj. A stay at the Lebua Lucknow hotel, a traditional Lucknowi mansion, is recommended. Prices start from Dh300 per night (excluding taxes).
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Read more from Aya Iskandarani
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.”
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
Know before you go
- Jebel Akhdar is a two-hour drive from Muscat airport or a six-hour drive from Dubai. It’s impossible to visit by car unless you have a 4x4. Phone ahead to the hotel to arrange a transfer.
- If you’re driving, make sure your insurance covers Oman.
- By air: Budget airlines Air Arabia, Flydubai and SalamAir offer direct routes to Muscat from the UAE.
- Tourists from the Emirates (UAE nationals not included) must apply for an Omani visa online before arrival at evisa.rop.gov.om. The process typically takes several days.
- Flash floods are probable due to the terrain and a lack of drainage. Always check the weather before venturing into any canyons or other remote areas and identify a plan of escape that includes high ground, shelter and parking where your car won’t be overtaken by sudden downpours.
