There’s a photograph I’ve been meaning to snap on my smartphone of the Dubai skyline for a while now. But every time I want to capture the picturesque blazing yellow sunset outlining the silhouette of the Burj Khalifa, I’ve been stuck in traffic on the Business Bay bridge, watching the sinking sun in awe and a twinge of disappointment strikes me.
I finally managed to capture that picture while cruising down the Dubai Canal in a Gulf Craft Nomad 55 luxury yacht this week. The 12-kilometre waterway from the head of the Dubai Creek to the Arabian Gulf has been in the making since 2014 and has created an island of Bur Dubai.
It links the old town to the prominent newer hubs of Downtown Dubai, Business Bay and Jumeirah. The second phase of the Dh3.7 billion waterway, a vision of the late Sheikh Rashid bin Saeed to deepen the Dubai Creek, was inaugurated by his son Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, last month.
But, the Dubai Canal is much more than a waterway project by the Roads and Transport Authority. It’s the very symbol of grandeur that is expected to attract 30 million tourists annually.
And even though the scale of the project is hard to gauge while zipping through Sheikh Zayed Road in your car, when you find yourself right in the middle of the canal there are clear glimpses of the city’s transformation into what will become a high-end waterfront living destination in the next few years.
Our group, which was hosted by luxury yacht manufacturer Gulf Craft, set sail from the Dubai Creek Golf and Yacht Club in the late afternoon and cruised the waterway until sunset, giving us an insight into the canal's potential as a playground for boat owners and avid cruisers.
“The Dubai Canal may be the single biggest contributor to the tourism increase in the next two years,” says Erwin Bamps, the chief executive of Gulf Craft, as the motor begins to roar and we pull away from the dock towards the canal in which water has gradually been released since October. The second phase involved construction of bridges on Al Wasl Road and Jumeirah Beach Road, which gives yachts of up to 8.5 metres access.
“The whole idea of looking at Dubai rather than looking down at the beach from an apartment window allows you to see the city from the water,” Bamps adds. “And by creating an island out of Dubai, it allows you to meander through the town, not just by sitting in a car or a cab but being able to see the wonders and skylines of the city from a different perspective.”
Within minutes we are far away from shore and the accompanying blaring traffic horns. The open expanse of water is a welcome respite from the eyesore chockablock roads and peak-time road rage.
As we move towards Business Bay, familiar sights start popping up. The wind picks up and the light breeze and freshly squeezed carrot juice in the pulpit evokes memories of a cruise on the River Seine as a hurried tourist in France a few years ago trying to discover the iconic monuments of Paris in a day.
Bamps expects, similarly, the canal will be a quick way for tourists get around town and see all the biggest attractions. “It is interconnected with the central parts, which is already now the tourism hub of Dubai; the Downtown area, Jumeirah and Marina. It will allow tourists who anyway flock to these areas to see the city in a hop-on and hop-off manner, without having to sit for hours in traffic. It will just open the city even further to them in a relaxed way.”
It’s hard to recognise Festival City, as we catch its lit-up facade from a distance. As we move further towards Business Bay and Downtown, we see the Dh802 million phase three of the RTA project well under way. This part of the canal will link the Dubai Creek with the Arabian Gulf from Sheikh Zayed Road around Al Safa Park and Jumeirah 1.
One of the dome-shaped pedestrian overbridges that we see as we approach Jumeirah 1 towers over us and people on top look like clustered dots. You can spot some of the nine new marine transport stations in the waterway that authorities inaugurated last month, as well.
Away from land, I struggle to orient myself to the location of some of the developments and require the help of some of my colleagues on-board to place the new Jumeirah Beach Park, the 5,345 residential units and mall being constructed in the areas that will be renamed Gate Towers, Jumeirah and Peninsula around the Canal.
Before making a U-turn back to the Yacht Club at sunset, we end up at a point I would never have never guessed was once the centre of Safa Park until someone mentioned it was “surreal that we are right where the community space and library The Archive used to once be”.
It’s a realisation that sums up the rapid speed at which the face of the city has changed and that marine tourism is Dubai’s future.
aahmed@thenational.ae
PREMIER LEAGUE STATS
Romelu Lukaku's goalscoring statistics in the Premier League
Season/club/appearances (substitute)/goals
2011/12 Chelsea: 8(7) - 0
2012/13 West Brom (loan): 35(15) - 17
2013/14 Chelsea: 2(2) - 0
2013/14 Everton (loan): 31(2) - 15
2014/15 Everton: 36(4) - 10
2015/16 Everton: 37(1) - 18
2016/17 Everton: 37(1) - 25
In numbers: PKK’s money network in Europe
Germany: PKK collectors typically bring in $18 million in cash a year – amount has trebled since 2010
Revolutionary tax: Investigators say about $2 million a year raised from ‘tax collection’ around Marseille
Extortion: Gunman convicted in 2023 of demanding $10,000 from Kurdish businessman in Stockholm
Drug trade: PKK income claimed by Turkish anti-drugs force in 2024 to be as high as $500 million a year
Denmark: PKK one of two terrorist groups along with Iranian separatists ASMLA to raise “two-digit million amounts”
Contributions: Hundreds of euros expected from typical Kurdish families and thousands from business owners
TV channel: Kurdish Roj TV accounts frozen and went bankrupt after Denmark fined it more than $1 million over PKK links in 2013
The%20specs
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The White Lotus: Season three
Creator: Mike White
Starring: Walton Goggins, Jason Isaacs, Natasha Rothwell
Rating: 4.5/5
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
MATCH INFO
Manchester United v Manchester City, Wednesday, 11pm (UAE)
Match is on BeIN Sports
WHAT IS A BLACK HOLE?
1. Black holes are objects whose gravity is so strong not even light can escape their pull
2. They can be created when massive stars collapse under their own weight
3. Large black holes can also be formed when smaller ones collide and merge
4. The biggest black holes lurk at the centre of many galaxies, including our own
5. Astronomers believe that when the universe was very young, black holes affected how galaxies formed
Fireball
Moscow claimed it hit the largest military fuel storage facility in Ukraine, triggering a huge fireball at the site.
A plume of black smoke rose from a fuel storage facility in the village of Kalynivka outside Kyiv on Friday after Russia said it had destroyed the military site with Kalibr cruise missiles.
"On the evening of March 24, Kalibr high-precision sea-based cruise missiles attacked a fuel base in the village of Kalynivka near Kyiv," the Russian defence ministry said in a statement.
Ukraine confirmed the strike, saying the village some 40 kilometres south-west of Kyiv was targeted.
Temple numbers
Expected completion: 2022
Height: 24 meters
Ground floor banquet hall: 370 square metres to accommodate about 750 people
Ground floor multipurpose hall: 92 square metres for up to 200 people
First floor main Prayer Hall: 465 square metres to hold 1,500 people at a time
First floor terrace areas: 2,30 square metres
Temple will be spread over 6,900 square metres
Structure includes two basements, ground and first floor
WandaVision
Starring: Elizabeth Olsen, Paul Bettany
Directed by: Matt Shakman
Rating: Four stars
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
SPEC%20SHEET%3A%20APPLE%20IPHONE%2015%20PRO%20MAX
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Company%C2%A0profile
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The distance learning plan
Spring break will be from March 8 - 19
Public school pupils will undergo distance learning from March 22 - April 2. School hours will be 8.30am to 1.30pm
Staff will be trained in distance learning programmes from March 15 - 19
Teaching hours will be 8am to 2pm during distance learning
Pupils will return to school for normal lessons from April 5
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.”
Need to know
When: October 17 until November 10
Cost: Entry is free but some events require prior registration
Where: Various locations including National Theatre (Abu Dhabi), Abu Dhabi Cultural Center, Zayed University Promenade, Beach Rotana (Abu Dhabi), Vox Cinemas at Yas Mall, Sharjah Youth Center
What: The Korea Festival will feature art exhibitions, a B-boy dance show, a mini K-pop concert, traditional dance and music performances, food tastings, a beauty seminar, and more.
For more information: www.koreafestivaluae.com
North Pole stats
Distance covered: 160km
Temperature: -40°C
Weight of equipment: 45kg
Altitude (metres above sea level): 0
Terrain: Ice rock
South Pole stats
Distance covered: 130km
Temperature: -50°C
Weight of equipment: 50kg
Altitude (metres above sea level): 3,300
Terrain: Flat ice
A MINECRAFT MOVIE
Director: Jared Hess
Starring: Jack Black, Jennifer Coolidge, Jason Momoa
Rating: 3/5