The new South East Asian restaurant Lao at the Waldorf Astoria Dubai Palm Jumeirah. Courtesy Waldorf Astoria Dubai Palm Jumeirah
The new South East Asian restaurant Lao at the Waldorf Astoria Dubai Palm Jumeirah. Courtesy Waldorf Astoria Dubai Palm Jumeirah

Restaurant review: Lao at the Waldorf Astoria Dubai Palm Jumeirah



Restaurant fatigue might sound like a distinctly unedifying first-world problem. But in the context of five-star hotels, a swanky, modern take on South East Asian dining seems to be little short of a prerequisite in the UAE – and, after a while, it gets fairly difficult to meaningfully distinguish between them all.

The signs were certainly good for Lao, however, with its unique selling proposition represented by a contemporary twist on classic cooking techniques from north-eastern Thailand, Vietnam and Cambodia; specifically, it specialises in the Lao people’s staple of sticky rice.

We were seated with a window view, although there wasn’t much to admire beyond our own reflections and a few feet of patio terrace visible in the darkness. No doubt the Waldorf Astoria’s grounds on The Palm are lovely during daylight hours, but given that Lao is dinner-only, opening from 7pm, those moments are going to be reserved for the earliest diners only – it felt like a bit of a waste.

What wasn’t a waste was the variety of starter options: the breadth of dim sum, larger starters, soups (including a separate pho section) and salads had us ruminating for a good 15 minutes over the choices. The wisest selection was the steamed rice crepe roll. Filled with minced chicken, crispy onion and lemon leaf, and neatly sliced into chopstick-friendly pieces, the meat was juicy and the crepe unobtrusively light. Our waiter warned us that the accompanying chicken-based side dip should be approached with care, but in reality we needn’t have worried – the spiciness was nothing that wouldn’t be exceeded at your local Nando’s.

The onion pancake, flavoured with chicken skin, intrigued us, and arrived in a cute mini-stack of two pancakes, piled with flecks of fried onion. A fulsomeness of flavour was a little absent, sadly, a problem that also applied to the steamed foie gras dumplings. Visually closer to tortellini pockets than we had expected, the outer dumpling was tough at the edges and the filling didn’t burst through as much as we’d hoped – particularly for Dh82.

When it came to our mains, ordering something from the “classic South East Asian dishes Lao style” page of the menu felt like a necessity. The wok-fried black pepper beef with tomato, young peppercorn and oyster sauce wasn’t at all fishy, but instead a tender, generous spread of meaty cubes. We opted for the small portion – the large could conceivably have fed two.

My dining partner toyed with the idea of the enticing-sounding honey-and-ginger-braised Muscovy duck breast, but plumped for the soy-roast crispy chicken instead, and regretted her decision. The quality of the chook was questionable, somewhat spoilt by seams of darker meat and the occasional gristly extremity. Given our time over again, it would be the duck all the way.

She was foiled again come dessert: her preferred pick of prickly pear sorbet wasn’t available, so we never did find out exactly what its sub-billing of pie crust and tapioca “puff” was all about. The replacement recommended by our waiter – chocolate molten cake with green tea ice cream – wasn’t as imaginative, but was gratefully demolished all the same. The second-most unusual pudding available – the banana, pumpkin and sweet potato in warm coconut milk – had a slightly off-putting melange of consistencies, with added ball-bearing-sized spheres of tapioca. One mouthful was a hit; the next, a miss – something of a metaphor for Lao’s overall impact.

Perhaps it’s unfair to judge a restaurant by its surrounding property, but when you’re in a hotel with a Waldorf Astoria-level of clout, being satisfied rather than mesmerised is really rather a let down.

• A meal for two at Lao, Waldorf Astoria Dubai Palm Jumeirah,costs Dh664. Call 04 818 2222. Reviewed meals are paid for by The National and conducted incognito

aworkman@thenational.ae

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.”

WORLD CUP SEMI-FINALS

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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" 

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