Emirati culture and heritage showcased at Arabian Nights Village



ABU DHABI // Visitors are being offered the chance to experience traditional Emirati culture and heritage at a new desert retreat.

The spacious and stylish Arabian Nights Village has been officially opened in Al Khatem, about an hour from Abu Dhabi city, by Sheikh Sultan bin Tahnoon, the chairman of the Tourism and Culture Authority.

The resort is the size of 12 football pitches and has 30 double rooms, five one-bedroom suites and a three-bedroom suite, all tailored to give guests a glimpse of the past.

Visitors can experience traditional pursuits such as falconry, henna painting and camel racing.

More modern activities on offer include dune bashing, quad biking and sand boarding.

The retreat also features a 200-square-metre infinity swimming pool, shops and a restaurant offering local cuisine.

“This is a stunning development and a sterling example of private-sector initiative and investment which we hope others will emulate,” Sheikh Sultan said.

“The village raises the bar on traditional overnight desert accommodation and we believe it will resonate well and be fully appreciated by residents and visitors alike.

“I want to congratulate the owners for their attention to detail in all aspects of construction, design and interiors, as well as their food and beverage offering and efforts towards environmental preservation. The village brings a whole new dimension to desert stays.”

Am Simreen, managing partner of Arabian Nights Village, said: “The very tapestry of Abu Dhabi’s culture is intertwined with the desert and hospitality.

“In years past, any traveller who came across a desert camp was offered three days of food and shelter. This kindness formed the foundation of Abu Dhabi’s welcoming ethos, and today we open a new chapter in this story.

“Al baytbaytak, our home is your home. Every step of the journey with us is designed to invoke an emotional response to allow visitors to be transported away from their daily lives to somewhere new and magical.”

The resort is powered by four state-of-the-art sound-proofed generators and has a specialist water-treatment plant that extracts and treats water.

Drinking water comes from a 65-metre-deep well. The village also uses treated waste water to irrigate trees and its landscaped gardens.

ksinclair@thenational.ae

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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.”

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What time: Each day’s play is scheduled to start at 2pm UAE time.
TV: The match will be broadcast on OSN Sports Cricket HD. Subscribers to the channel can also stream the action live on OSN Play.

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Name: Kumulus Water
 
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The Federal National Council is one of five federal authorities established by the UAE constitution. It held its first session on December 2, 1972, a year to the day after Federation.
It has 40 members, eight of whom are women. The members represent the UAE population through each of the emirates. Abu Dhabi and Dubai have eight members each, Sharjah and Ras al Khaimah six, and Ajman, Fujairah and Umm Al Quwain have four.
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The FNC’s main functions include passing, amending or rejecting federal draft laws, discussing international treaties and agreements, and offering recommendations on general subjects raised during sessions.
Federal draft laws must first pass through the FNC for recommendations when members can amend the laws to suit the needs of citizens. The draft laws are then forwarded to the Cabinet for consideration and approval. 
Since 2006, half of the members have been elected by UAE citizens to serve four-year terms and the other half are appointed by the Ruler’s Courts of the seven emirates.
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