Dubai's water taxis, seen here at Al Seef taxi station on Dubai Creeek, will commence services from tomorrow. Private operators will charge Dh200 per person for a two-hour ride, with charters at Dh3,000 an hour
Dubai's water taxis, seen here at Al Seef taxi station on Dubai Creeek, will commence services from tomorrow. Private operators will charge Dh200 per person for a two-hour ride, with charters at Dh3,0Show more

Water taxis launch in Dubai



DUBAI // State-of-the-art water taxis are to begin ferrying passengers along the coast of Dubai from tomorrow, in a bid to attract the well-heeled tourist and businessman. The sleek 11-metre vessels, which can move at speeds of up to 35 knots, will link hotels along Dubai's coast with popular sightseeing destinations. They will be operated by the Roads and Transport Authority. Five water taxis seating 11 passengers will ferry passengers to 18 destinations from downtown Dubai Creek to Jebel Ali. The service will run from 10am-10pm.

Customers can call the water taxi, which runs much like a regular four-wheeled cab, on a toll-free number. Tour operators hope the service will attract companies that charter boats for promotions and corporate team-building exercises. "This would be a perfect way for guys to chill out in the evening on a boat down Dubai Creek," said Premjit Bangara, the travel manager at Sharaf Travel. "Companies sometimes use trips like this as an incentive when they get managers down to Dubai for three to four days. Some companies charter boats for half a day and take the team fishing for the afternoon."

A trip to the nearest station from Al Seef, the water taxi terminal, across Dubai Creek Park would cost Dh50. The fare would reach Dh570 for journeys from Dubai Festival City to the Jebel Ali Hotel and Spa. The boat and its captain can also be hired for one hour for Dh400. Those who can afford the service will be travelling in style. The plush interiors of the vessels feature seats resembling those in an aircraft business-class cabins, and are fitted with flat TV screens. They are fully air-conditioned.

It is hoped that short city cruises will prove popular with tourists. "There is definitely a market for this because Dubai attracts tourists who typically have that kind of money," said Martin Erasmus, the general manager of Arabian Gulf Yacht Services. "You don't find backpackers in Dubai like you do in Europe. Hotels are expensive here, so high-end tourists would go on a boat ride like this." The maximum fare of Dh570, while it seemed high, was reasonable for the long trip to Jebel Ali, Mr Erasmus reckoned.

Privately-operated cruises will cost upwards of Dh200 per person for a two-hour ride, with private charters coming in at Dh3,000 per hour. "You get a different perspective of Dubai from the sea than you do from the land," he said. "Tourists want to see what it looks like from a boat." Wheelchair access to the vessels would be provided for disabled customers, said Mattar al Tayer, the Roads and Transport Authority's executive director.

The project forms part of a plan to develop the city's marine transport system to meet the needs of a cross-section of passengers, while opening up the market in new areas. However, some tourists said they would stick to the popular big tour vessels and the water abras - the small boats that run without air conditioning. Abras currently ferry about 50,000 commuters a day, while water buses carry another 1,500 people in downtown areas of Dubai.

"I wouldn't get on that [water taxi]," said Betty Oliver, an American visiting Dubai. "It's for tourists with deeper pockets." @Email:rtalwar@thenational.ae

COMPANY PROFILE
Name: Kumulus Water
 
Started: 2021
 
Founders: Iheb Triki and Mohamed Ali Abid
 
Based: Tunisia 
 
Sector: Water technology 
 
Number of staff: 22 
 
Investment raised: $4 million 
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Contributions: Hundreds of euros expected from typical Kurdish families and thousands from business owners

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Ms Yang's top tips for parents new to the UAE
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  3. Keep an open mind
The rules on fostering in the UAE

A foster couple or family must:

  • be Muslim, Emirati and be residing in the UAE
  • not be younger than 25 years old
  • not have been convicted of offences or crimes involving moral turpitude
  • be free of infectious diseases or psychological and mental disorders
  • have the ability to support its members and the foster child financially
  • undertake to treat and raise the child in a proper manner and take care of his or her health and well-being
  • A single, divorced or widowed Muslim Emirati female, residing in the UAE may apply to foster a child if she is at least 30 years old and able to support the child financially
Paltan

Producer: JP Films, Zee Studios
Director: JP Dutta
Cast: Jackie Shroff, Sonu Sood, Arjun Rampal, Siddhanth Kapoor, Luv Sinha and Harshvardhan Rane
Rating: 2/5

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Director: Jared Hess

Starring: Jack Black, Jennifer Coolidge, Jason Momoa

Rating: 3/5

About Okadoc

Date started: Okadoc, 2018

Founder/CEO: Fodhil Benturquia

Based: Dubai, UAE

Sector: Healthcare

Size: (employees/revenue) 40 staff; undisclosed revenues recording “double-digit” monthly growth

Funding stage: Series B fundraising round to conclude in February

Investors: Undisclosed

Sui Dhaaga: Made in India

Director: Sharat Katariya

Starring: Varun Dhawan, Anushka Sharma, Raghubir Yadav

3.5/5

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.

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In criminal cases, you can contact the police for additional support

NO OTHER LAND

Director: Basel Adra, Yuval Abraham, Rachel Szor, Hamdan Ballal

Stars: Basel Adra, Yuval Abraham

Rating: 3.5/5

THE LIGHT

Director: Tom Tykwer

Starring: Tala Al Deen, Nicolette Krebitz, Lars Eidinger

Rating: 3/5

The specs

Engine: four-litre V6 and 3.5-litre V6 twin-turbo

Transmission: six-speed and 10-speed

Power: 271 and 409 horsepower

Torque: 385 and 650Nm

Price: from Dh229,900 to Dh355,000

MATCH INFO

Uefa Champions League semi-final, second leg

Roma 4
Milner (15' OG), Dzeko (52'), Nainggolan (86', 90 4')

Liverpool 2
Mane (9'), Wijnaldum (25')

The specs: 2018 Honda City

Price, base: From Dh57,000
Engine: 1.5L, in-line four-cylinder
Transmission: Continuously variable transmission
Power: 118hp @ 6,600rpm
Torque: 146Nm @ 4,600rpm
Fuel economy, combined: 5.8L / 100km

The specs: 2018 Ducati SuperSport S

Price, base / as tested: Dh74,900 / Dh85,900

Engine: 937cc

Transmission: Six-speed gearbox

Power: 110hp @ 9,000rpm

Torque: 93Nm @ 6,500rpm

Fuel economy, combined: 5.9L / 100km

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GULF MEN'S LEAGUE

Pool A Dubai Hurricanes, Bahrain, Dubai Exiles, Dubai Tigers 2

Pool B Abu Dhabi Harlequins, Jebel Ali Dragons, Dubai Knights Eagles, Dubai Tigers

 

Opening fixtures

Thursday, December 5

6.40pm, Pitch 8, Abu Dhabi Harlequins v Dubai Knights Eagles

7pm, Pitch 2, Jebel Ali Dragons v Dubai Tigers

7pm, Pitch 4, Dubai Hurricanes v Dubai Exiles

7pm, Pitch 5, Bahrain v Dubai Eagles 2

 

Recent winners

2018 Dubai Hurricanes

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Skewed figures

In the village of Mevagissey in southwest England the housing stock has doubled in the last century while the number of residents is half the historic high. The village's Neighbourhood Development Plan states that 26% of homes are holiday retreats. Prices are high, averaging around £300,000, £50,000 more than the Cornish average of £250,000. The local average wage is £15,458. 

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.”

2025 Fifa Club World Cup groups

Group A: Palmeiras, Porto, Al Ahly, Inter Miami.

Group B: Paris Saint-Germain, Atletico Madrid, Botafogo, Seattle.

Group C: Bayern Munich, Auckland City, Boca Juniors, Benfica.

Group D: Flamengo, ES Tunis, Chelsea, (Leon banned).

Group E: River Plate, Urawa, Monterrey, Inter Milan.

Group F: Fluminense, Borussia Dortmund, Ulsan, Mamelodi Sundowns.

Group G: Manchester City, Wydad, Al Ain, Juventus.

Group H: Real Madrid, Al Hilal, Pachuca, Salzburg.

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