The national team player Buti Abdul Hussain, in white, trains at Al Mamzar Beach Park in Dubai last week. Pawan Singh / The National
The national team player Buti Abdul Hussain, in white, trains at Al Mamzar Beach Park in Dubai last week. Pawan Singh / The National

Young sport is a global growth story



What makes for a huge boost before attempting to accomplish something great in sport and thereby raise awareness of the UAE around the world?

Of course — it would be the unrelenting support and backing of a football-mad country. However, add to that inspirational advice from a top-notch sports professional such as the UAE national football team manager Mahdi Ali and it should be enough to drive a group of young men to achieve great things.

“Let glory, honour and pride be by your side as you embark on your assignment in Tahiti,” said Mr Ali during his visit to a training session that just such a group of young men was participating in at Al Mamzar Beach Park a few weeks ago.

“You have a moral obligation of flying the UAE flag high on the international stage. Be sure you are worthy representatives of your country.”

With the 10-day, 32-match Fifa Beach Soccer World Cup kicking off at the Tahua To’ata Stadium in Tahiti on Wednesday, the prospects of the team training that day at the beach park are looking bright with the likes of talented players such as Kamal Ali Sulaiman, Adel Ali Rahu and Rami Abdulla Al Massabi under the guidance of the Brazil-born team coach Marcelo Mendes.

And the global attraction of the sport is obvious. Tickets for the every stage of the competition were sold out by Wednesday, with only those for the group 5 stage games on September 22 still available. With a stadium capacity of 3,600 and standard tickets costing £13, tickets sales revenues alone will come in at about £1.5 million (Dh7.3m) — not a sum to be sniffed at anywhere.

The UAE national beach football team, the 2007 and 2008 Asian champions, scored 23 goals in qualifying for the finals in Tahiti. The squad is in good form, having beaten the Czech Republic and Hungary while only losing to the Netherlands on penalties in a recent tournament in Hungary.

“I think the time has come for us to qualify for the knockout phase and it’s definitely within our reach,” Mr Mendes said at the time.

Although the Emiratis have been at the Beach Soccer World Cup on three previous occasions, it will be a first if they manage to qualify to the knockout rounds. However, since the tournament began six years ago no Asian teams has ever made it to the podium, with Bahrain and Japan being the only countries coming close to a top three finish.

Iñaki Uribarri, the head of media at Beach Soccer Worldwide, a Fifa-backed company that promotes the sport worldwide, suggests only the slightest of differences have prevented the Asian teams to reach the highest places in the competition.

“In the six editions held to date on the Fifa Beach Soccer World Cup, of all the Asian countries, only Japan and Bahrain got beyond the group stage with the former making it to the semifinals in 2005, and to the quarter finals in 2009, and Bahrain [quarter finals 2006],” says Mr Uribarri.

“Every year, Asian teams play a very important role in beach soccer, and they get more and more competitive, and with Iran, Japan and UAE, the continent will have in Tahiti its most preferential representatives.”

The Emiratis will begin their campaign against the hosts — Tahiti — followed by the European champions Spain and the USA in Group A of the tournament. Although, from a perspective of traditional football, it may seem like an easy group, with the Spaniards outwardly being the only ones to be a strong opponent, that is not the case, according to Brian Murgatroyd, a journalist and broadcaster who commentates on and covers beach soccer across Europe and the world.

“I think Group B with the Netherlands, the OFC Qualifier [Solomon Islands], Argentina and El Salvador looks the most open to me,” he says.

“Tahiti at home is a two-edged sword,” he adds. “They have beaten France, the Netherlands and Switzerland but will have to deal with the expectations of being in a home World Cup with all the pressure that will bring. Spain won the Euro World Cup qualifier last year and the Mundialito this year and, in Llorenc Gomez, has one of the best players in the world. And although the USA looked modest in last year’s Samsung Intercontinental Championship in Dubai, they had won their Concacaf qualifier, which was not an easy feat.”

Mr Iñaki voices a similar notion focusing on Tahiti being a tough opponent.

“Indeed, UAE has taken part in the 2008 and 2009 editions of the Fifa Beach Soccer World Cup [held in Marseille and Dubai, respectively]. Never went beyond the group stage, though,” he says.

“And make no mistake, group A is not an easy group, as Tahiti will be a very tough team. UAE have beaten USA in their last encounters, and Spain, champions of the European qualifiers, can be earmarked as the group favourites. But yes, UAE have significant options to make it to the next phase.

The team itself has done its part — the players, coaches and the administration. The beach football community is growing. However, continued growth requires consistent support. While still in its infancy, the country?’s interest in the sport has risen at a steady pace but still has a long way to go before it can rank among the most popular.

So how does a country such as the UAE increase the support of the general public in beach football, thereby growing ticket revenues and in turn attracting more sponsorship and overseas interest?

Mr Iñaki believes the country is on the right track.

“UAE is a very active country in beach soccer. They have a powerful National League, signing some of the best beach soccer stars in the world and Dubai has become a beach soccer hot spot. After the excellent Fifa Beach Soccer World Cup held there in 2009, the emirate has been hosting one of the most exciting and prestigious events every season, the Intercontinental Cup, with the champions of every confederation,” he says.

“The UAE is doing a great job, supported by the Dubai Sports Council, and if they keep working with the same mastership and enthusiasm, the country can become one of the beach soccer powerhouses in the world.”

As such, the support from within the country needs to increase. And subsequently, growth in attendance at games, corporate sponsorships and those of its athletes and community involvement needs to increase.

For now, all eyes are on Mr Mendes and his young men as another UAE team that sets its sight on raising the profile of the country at the global stage, yet again.

Shuaib B Ahmed lives in Dubai and has written for The New York Times and afootballreport.com. He also writes about all things football at www.footynions.com.

business@thenational.ae

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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.

Formula Middle East Calendar (Formula Regional and Formula 4)
Round 1: January 17-19, Yas Marina Circuit – Abu Dhabi
 
Round 2: January 22-23, Yas Marina Circuit – Abu Dhabi
 
Round 3: February 7-9, Dubai Autodrome – Dubai
 
Round 4: February 14-16, Yas Marina Circuit – Abu Dhabi
 
Round 5: February 25-27, Jeddah Corniche Circuit – Saudi Arabia
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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
VEZEETA PROFILE

Date started: 2012

Founder: Amir Barsoum

Based: Dubai, UAE

Sector: HealthTech / MedTech

Size: 300 employees

Funding: $22.6 million (as of September 2018)

Investors: Technology Development Fund, Silicon Badia, Beco Capital, Vostok New Ventures, Endeavour Catalyst, Crescent Enterprises’ CE-Ventures, Saudi Technology Ventures and IFC

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.”

TRAP

Starring: Josh Hartnett, Saleka Shyamalan, Ariel Donaghue

Director: M Night Shyamalan

Rating: 3/5

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