One lucky winner will be able to pocket Dh3.65 million in the region’s largest-ever cash draw prize.
The Sensational Big Ticket Draw, which was launched on July 1 by Abu Dhabi Duty Free, is the Middle East's largest-ever cash draw prize. It will run alongside the monthly Big Ticket Draw, which has a grand prize of Dh1 million.
The one-off competition, organised by the luxury travel retail group DFS, will culminate with the final draw on August 5 in Terminal 1 at Abu Dhabi International Airport (ADIA).
Tickets, which cost Dh500 for anyone over the age of 18, are available online at www.bigticket.ae, and through the airport's website.
molson@thenational.ae
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Building boom turning to bust as Turkey's economy slows
Deep in a provincial region of northwestern Turkey, it looks like a mirage - hundreds of luxury houses built in neat rows, their pointed towers somewhere between French chateau and Disney castle.
Meant to provide luxurious accommodations for foreign buyers, the houses are however standing empty in what is anything but a fairytale for their investors.
The ambitious development has been hit by regional turmoil as well as the slump in the Turkish construction industry - a key sector - as the country's economy heads towards what could be a hard landing in an intensifying downturn.
After a long period of solid growth, Turkey's economy contracted 1.1 per cent in the third quarter, and many economists expect it will enter into recession this year.
The country has been hit by high inflation and a currency crisis in August. The lira lost 28 per cent of its value against the dollar in 2018 and markets are still unconvinced by the readiness of the government under President Recep Tayyip Erdogan to tackle underlying economic issues.
The villas close to the town centre of Mudurnu in the Bolu region are intended to resemble European architecture and are part of the Sarot Group's Burj Al Babas project.
But the development of 732 villas and a shopping centre - which began in 2014 - is now in limbo as Sarot Group has sought bankruptcy protection.
It is one of hundreds of Turkish companies that have done so as they seek cover from creditors and to restructure their debts.