Benchmark Middle East, May 2015 edition by Benchmark Middle East

benchmark middle east

MAY 2015 / VOL. 4 NO. 5

Rent or buy in Dubai? With the rising cost of rentals in Dubai, and a healthy property market that looks set to continue growing, buying property is becoming an increasingly attractive prospect for expatriates looking to lay down their roots in the UAE

p22

Published from Dubai Media City

MAY 2015

Floating Retreat

Dubai ‘The Floating Seahorse’ takes it to a whole new level — underwater

Magical Maldives

Scott Armstrong took Benchmark to Kurumba to discover what it has to offer

SushiArt

SushiArt Teams up with Craig and Karl to Create the LA Box

MAY 2015

benchmark middle east

inside

MAY 2015 / VOL. 4 NO. 5

p22

Published from Dubai Media City

MAY 2015

Floating Retreat

Dubai ‘The Floating Seahorse’ takes it to a whole new level — underwater

Magical Maldives

Scott Armstrong took Benchmark to Kurumba to discover what it has to offer

SushiArt

SushiArt Teams up with Craig and Karl to Create the LA Box

GCC Update

8 12 16

Arabian Travel Market: C orporate spats don’t get much more global than the transatlantic row between the Gulf airlines and several of their US rivals. Manchester woos Gulf tourists: As the sun sets the air fills with shisha smoke and the hubbub of Arabic chitchat, punctuated only by the fragrant waft of lamb shawarma cooked over an open flame. DABO deal makes Edelman UAE twice as strong

Industry Focus: Interviews & analysis

26 30

10 Take away from Cityscape Abu Dhabi The Floating Retreat: Dubai has had its fair share of outlandish property developments, but ‘The Floating Seahorse’ takes it to a whole new level — underwater.

High end property brokers: Andrew Cleator, Luxury Sales Director - Luxhabitat, gives Benchmark the low down on some of the Emirate’s most expensive and lavish homes and where to live if money really was no object.

Le Vault: So you've bought your super mansion in the UAE, now what do you put in it, and how do you keep your priceless heirlooms safe?

ProTenders.com: Rising costs, security risks, slow, outdated systems and processing mountains of paperwork were just a few of the issues highlighted by key players in the construction industry in the latest annual global sector survey by paper-free online bidding platform, ProTenders.com.

b e n c h m ar k m i d d l e e a s t | M a y 2 0 15

Cover design: Geri Batara Sonny

Lifestyle

46 Fashion 50 Watches

Eden Park Spring-Summer 2015 Chaumet Paris

52 58

64 66

Motoring

The Rise and Rise of Toyota: It's all business at Al Futtaim motors - Toyota, we chat with Alan Carpenter, General Manager Sales and Marketing and business is certainly booming.

Tourism

Magical Maldives: Just under four hours away lies the gorgeous archipelago of the Maldives, 1,200 islands surrounded by astonishing coral reefs and stunning sea life. Scott Armstrong took Benchmark to Kurumba to discover what it has to offer.

Eating Out

SushiArt Teams up with Craig and Karl to Create the LA Box

Health

Have a snack, or six! You had cereal for breakfast, followed by a banana at work. Lunch was a prepackaged salad and maybe a sandwich; and come 5pm you had a bar of chocolate. Welcome to the twentyfirst century.

M a y 2 0 15 | b e n c h m ar k m i d d l e e a s t

A Times Of Oman Publication

E ditorial O ffice Solus Globus Media Solutions FZ LLC Office No 218, Building 9, Dubai Media City, PO Box 503036 Dubai, United Arab Emirates Tel: +971 4 360 96 80 Fax: +971 4 360 86 79

P rinted

C hairman Mohammed Essa Al Zedjali

by :

D istributed

by :

BLUE TRUCK

CEO & E ditor in C hief Ahmed Essa Al Zedjali

C hief E xecutive E ditor Scott Armstrong

Reproduction of any part of the contents in any manner is prohibited. Business Benchmark does not take responsibility for returning unsolicited publication material.

C reative D irector : Adonis Durado A rt D irector : Waleed Rabin L ead D esigner : Geri Batara Sonny D esigners : Gregory Fernandez I llustrator : Lucille Umali, Winie Ariany, Isidore Carloman

ADVERTISING ENQUIRIES: sales@businessbenchmarkme.com Tel: +971 4 360 55 96

send comments and suggestion to: edit@businessbenchmarkme.com

S enior S ales & M arketing M anager : Rima Maalouf M anager S ales & M arketing : Alexander Rathi W eb E ditor : K. Raveendran W eb S upport : Manjooran J

www.benchmarkdaily.com

Find us on social media:

facebook.com/MEbenchmark

b e n c h m ar k m i d d l e e a s t | M a y 2 0 15

twitter.com/MEbenchmark

M a y 2 0 15 | b e n c h m ar k m i d d l e e a s t

Editor's Note

n any country around the globe the decision of whether to buy or to rent property has long vexed us, the gamble of getting on the home ownership ladder versus the 'dead money' that paying a landlord represents. That question is perhaps even more stark when you become as expat, and in the UAE this can be even more so a tricky quandary. Has the market peaked, am I safe to buy, what are my rights? All these, and many more questions, play on the mind as you mull the options. So it seems only fitting in the wake of Cityscape Abu Dhabi that we devote this edition of Benchmark to the property market. In our cover story Helen Tatham, managing partner of Prime Places, tells Benchmark about the purchasing process, the important criteria every house hunter needs to know and how to get a mortgage as an expatriate. And she takes on the all important question "Does it make financial sense to buy now instead of rent?" Ben Flanagan looks back on the Cityscape Abu Dhabi shows and asks 'what are the top

b e n c h m ar k m i d d l e e a s t | M a y 2 0 15

takeaways' from the key property exhibition. He also catches up with the developer of the Floating Seahorse, if you hadn't guessed, it's the ultimate in ocean living. Dubai is known for its super-luxury residences and Andrew Cleator, Luxury Sales Director at Luxhabitat — the high-end property brokerage in UAE — gives Benchmark the low down on some of the emirate’s most expensive and lavish homes, and where to live if money really was no object. The team behind Abu Dhabi's newest luxury retailer Le Vault give us an insight into what to put into your super-mansion once you have it, and how to protect it. Away from property we take a look at the Arabian Travel Show which opened its doors to the world, and how the home of Manchester City is trying to tempt Gulfies to broaden their UK horizons and go north. And, as summer looms and travel plans surface, Scott Armstrong takes us to the magical Maldives, just a four hour flight away. Scott Armstrong, Chief Executive Editor

M a y 2 0 15 | b e n c h m ar k m i d d l e e a s t

GCC Update

E x c l u s i v e S t o r i e s A N D A N A LY SIS F r o m A r o u nd T h e G u l f

b e n c h m ar k m i d d l e e a s t | M a y 2 0 15

M a y 2 0 15 | b e n c h m ar k m i d d l e e a s t

GCC Update

Arabian Travel Market

Ben Flanagan

orporate spats don’t get much more global than the transatlantic row between the Gulf airlines and several of their US rivals. But the discussion will be very much on home turf as the bosses of the region’s two biggest airlines take the stage at this month’s Arabian Travel Market (ATM) in Dubai. Emirates, Qatar Airways and Etihad have all been accused of breaching “open skies” guidelines — claims they strenuously deny — by three US carriers, in an escalating war of words between some of the world’s biggest airlines. American, Delta and United allege that the governments of the UAE and Qatar gave unfair subsidies to their international airlines amounting to $42 billion over 10 years,

b e n c h m ar k m i d d l e e a s t | M a y 2 0 15

prompting the US government to set up a forum to hear the claims. The airlines’ very public disagreement will be high on the agenda at the ATM, which runs from 4 to 7 May. Tim Clark, the president of Emirates, and Akbar Al Baker, group chief executive of Qatar Airways, will both take to the stage on the second day of the annual show. They will be interviewed separately by John Strickland, an aviation analyst at the UK-based JLS Consulting, who says he will quiz them on the spat with the US carriers. “Emirates and Qatar continue to grow rapidly,” Strickland told Benchmark. “I’ll discuss the expansion plans with their leaders and take a look at the differing partnership approaches. We’ll seek their views on the importance of the next-generation aircraft which they have on order as well as eliciting some thoughts about the recent atM a y 2 0 15 | b e n c h m ar k m i d d l e e a s t

GCC Update

tack on Gulf carriers by airlines in the US.” Saj Ahmad, the chief analyst at StrategicAero Research, says the latter issue will be a key theme at this year’s ATM. One question he would like put to Emirates boss Tim Clark is how much faster Emirates can expand in the United States. “There are at least 15 to 20 city points that Emirates could connect Dubai to, and in the absence of any US airlines bothering to fill this market gap, the proliferation of US expansion must surely be key to Emirates’ financial growth,” said Mr Ahmad. “They should be launching a new US route every couple of months — I’d be interested to know why it is they aren’t being as aggressive here when they have the capability to be.” Mr Ahmad said another important question is the limited amount of financial information published by Qatar Airways, something that does not help its case in the row with the US airlines. “Surely it’s in their own interest to dispel these myths peddled by the weak US airlines,” Mr Ahmad said of the Doha-based 10

b e n c h m ar k m i d d l e e a s t | M a y 2 0 15

carrier. “Akbar [would] not only have the moral high ground, it would also make the whining US airlines sit up and take note that there aren’t any free handouts to any of the major GCC airlines.” There will be many other issues on the agenda at 22nd edition of the ATM, which the organiser says will include 2,700 companies this year, including 113 first-time exhibitors. Mr Ahmad said Oman’s travel and tourism sector is one to watch. “Oman Air has progressively expanded its fleet and international network without raising anyone's eyebrows. Boeing 787s join the fleet this year, helping the airline to open up more long-range non-stop routes while slashing their fuel bills,” he said. “That, coupled with the unique tourism industry that is booming [makes] Oman a secret and often overlooked gem in the Middle East. I like to think of it as Dubai’s long-lost sibling. It’s an amazing place and it’s clear that the strategy employed at Oman Air is delivering on results as passenger numbers rise across its network.”

There are at least 15 to 20 city points that Emirates could connect Dubai to, and in the absence of any US airlines bothering to fill this market gap, the proliferation of US expansion must surely be key to Emirates’ financial growth Saj Ahmad Chief Analyst, Strategic Aero Research

M a y 2 0 15 | b e n c h m ar k m i d d l e e a s t

GCC Update

Nadege Noblet, Arabian Travel Market (ATM) exhibition manager, tells Benchmark why this year’s show is on track to be the largest ever. How big will ATM be this year compared to previous years? We’ve added another exhibition hall to accommodate in excess of 2,700 exhibiting companies who will be representing 86 countries with 70 country pavilions confirmed — all underscoring the phenomenal growth of the tourism industry in this region and a nod to its increasing popularity. This year we will look to build on the success of 2014, which was the largest annual gathering of tourism professionals ever recorded at ATM, with a total of 33,000 participants, an increase of 12 percent, who signed $2.1 billion worth of business deals over four days.

‘Halal’ travel will also be discussed at the ATM, with sister companies CrescentRating and HalalTrip — both of which specialise in the field — set to exhibit. Anas Kasak, chief marketing officer at CrescentRating, said the firm will launch a ‘Muslim Travel Warehouse’ at the Dubai travel show. “It will be the first one-stop global B2B platform of Muslim-friendly tour packages, excursions and activities,” he said. “We will begin with tour packages in 15 countries before a global roll-out in the next 12 months.” Mr Kasak said new features will also be added to the HalalTrip mobile app, which is designed for Muslim travellers. These will include a real-time prayer calculator, which will display both timings and the location of the nearest Mosque. “We expect Halal travel to be a major part of the ATM this year, especially due to the value of the sector [growing to an expected] $200 billion by 2020,” said Mr Kasak. “We expect the mood to be upbeat this year.” b e n c h m ar k m i d d l e e a s t | M a y 2 0 15

What do you expect the mood to be like at ATM this year? Tourism and travel-infrastructure development will once again be hot topics of discussion as Dubai and the UAE move ever closer to the World Expo 2020, and the goal of 20 million visitors. Continued investment by other Middle Eastern destinations is ensuring tourism growth remains at the top of the agenda with billions of dollars being invested, while highlighting an optimism within the region. The spotlight theme of family travel, and the additional focus on technology, business and luxury and wellbeing, will ensure there is plenty of discussion amongst exhibitors and visitors. You says that travel technology will be one of the hot topics — why is this important? Technology has seen major growth in the tourism industry, particularly in the MENA region where online travel bookings increased by 10% in 2014. Throughout the region, we are witnessing major growth in online bookings as airlines, tour operators and hotels develop ever-more sophisticated digital platforms and social-media strategies to ensure they reach out effectively to both existing and potential guests.

M a y 2 0 15 | b e n c h m ar k m i d d l e e a s t

GCC Update

Manchester woos Gulf tourists

Ben Flanagan

s the sun sets the air fills with shisha smoke and the hubbub of Arabic chitchat, punctuated only by the fragrant waft of lamb shawarma cooked over an open flame. Were it not for the distinct chill in the air, this could be downtown Cairo or bustling Beirut. But as the first spots of springtime drizzle are felt, this could only be… Manchester. The northern UK city may be synonymous with football, with its top-league teams Manchester United and the Abu Dhabi-owned City. But Manchester is about so much more than that — something it is shouting about as it aims to attract more visitors from the Gulf. Rising tourist numbers from the region has been a boon to the founders of Manchester’s Zouk Tea Bar & Grill, opened in 12

b e n c h m ar k m i d d l e e a s t | M a y 2 0 15

February 2009 by brothers Mudassar and Tayub Amjad. As one of the city’s many shisha restaurants, Zouk reports rising numbers of Middle Eastern customers, both tourists and students from Manchester’s flourishing universities. “When we first opened, Middle Eastern customers were about 5 percent of our customer base. Now it can be as high as 20 percent on an average week — which is a large increase

over 5 years,” Tayub Amjad tells Benchmark. His brother Mudassar says Zouk — which has another branch in Bradford — was inspired by visits to the Middle Eastern cities such as Dubai and Doha. “There are some great outdoor spaces in Lebanon too,” he said. “I really like Sky Bar although it is not what we were going for in Manchester. We are primarily a restaurant so we had to keep that front of mind.” Venturing in from the now rather chilly outdoor shisha terrace — smoking in indoor public spaces is illegal in Britain — the large and modern interior of Zouk would certainly not look out of place in an upmarket Dubai hotel. The Indian and Pakistani dishes include butter-chicken curries, karahis and lamb nihari, which takes more than six hours to cook. “Our number-one seller is by far our mixed grill. People travel from Glasgow, London and Birmingham just to have one,” said Mudassar. M a y 2 0 15 | b e n c h m ar k m i d d l e e a s t

GCC Update

24,747

Number of arrivals from Saudi Arabia and the UAE combined — compared to just 14,000 in 2010

The rising tide of Middle Eastern diners at Zouk is mirrored in overall visitor numbers to Manchester. In 2013 there were 24,727 arrivals from Saudi Arabia and the UAE combined — compared to just 14,000 in 2010, according to official data. The Gulf airlines Emirates, Qatar Airways, Saudia and Etihad all operate direct flights here — with the latter, famously, sponsoring the Manchester City stadium. Nick Brooks-Sykes, director of tourism at Marketing Manchester, says the direct flights have helped boost tourist numbers. “Marketing Manchester has been working to attract visitors from the Middle East market for many years, in line with excellent connectivity via some of the Gulf region’s largest airlines,” he said. Many come for the summer season, sometimes sending their children to one of the Manchester’s soccer schools. But the city is also an emerging cultural powerhouse, with millions spent on the refurbished Whitworth art gallery and this summer’s Manchester International Festival. There’s also a £25 million ($38m) arts centre called Home — located opposite the former site of The Haçienda, the legendary Manchester nightclub — which is set to open this month and contains two theatres, five cinemas, and an art gallery. Manchester resident Andy Spinoza, marketing consultant with SKV Communications, said the city is rapidly emerging as an alternative to London for visiting Arab tourists. There’s even a nascent ‘supercar’ trend, something familiar in upmarket areas of the UK capital such as Knightsbridge. “Manchester is increasingly a destination for those seeking a leisure playground, a break from the Middle East summer and with a different flavour from overheated London,” said Mr Spinoza. “Whether it’s the influence of the globally popular football clubs, or Manchester’s universities which attract large number of Middle East students, there is a definite trend emerging... During the summer nights, the supercars purr along Deansgate and around the high-end restaurants in the modern Spinningfields quarter.” b e n c h m ar k m i d d l e e a s t | M a y 2 0 15

M a y 2 0 15 | b e n c h m ar k m i d d l e e a s t

GCC Update

And while the wealthiest Arab tourists may flock to the luxury Harrods department store in London, there are no shortage of shopping options in Manchester, which is home to branches of Harvey Nichols, Selfridges and House of Fraser. Iain Mackenzie, store director at Harvey Nichols Manchester, said he had seen more and more visits from shoppers from the UAE and Saudi Arabia. The store stocks big luxury brands such as Balenciaga, Giuseppe Zanotti and Dolce & Gabbana, and offers a personal-shopper service to rival any in London, 200 miles south. “We have seen a steady growth in the number of international visitors to our store over recent years from many destinations, and in particular from the Middle East,” said Mr Mackenzie. “We’re expecting this trend to continue to elevate in coming years.” You don’t need to go to London for glitzy nightlife, either. Take the family-run Italian restaurant San Carlo, known as Manchester top celebrity haunt, which has attracted 14

b e n c h m ar k m i d d l e e a s t | M a y 2 0 15

stars such as include Hollywood actor Russell Crowe and former Oasis frontmen Liam and Noel Gallagher. Visitors from the Arab world will find simpler charms in the Rusholme district, two miles south of the city centre. The budget shopping chains Poundland and Lidl mark the start of the so-called ‘Curry Mile’ — a bustling stretch of shisha cafes, sari shops, falafel joints and halal restaurants. Rusholme is undeniably less glam than elsewhere in the city: It’s like a down-atheel Edgware Road, London’s top hangout for visiting Gulf Arabs. But at the halal restaurant Jaffa, a crowd of students and members of the local Asian community are queuing for cheap, delicious food. Here you can pick up a lamb shwarma for £4.50, smoky Mutabel for just £2, or — rather incongruously — a pizza for £3.50. Just opposite there’s a shisha joint called Dubai Café — further proof that Manchester is a home-from-home for visiting Arabs. Aside from the rain, of course.

CONTACTS Harvey Nichols 21 New Cathedral Street, Manchester harveynichols.com Visit Manchester: www.visitmanchester.com The Lowry Hotel 50 Dearmans Place, Chapel Wharf, Salford, Manchester thelowryhotel.com Zouk Tea Bar & Grill zoukteabar.co.uk

M a y 2 0 15 | b e n c h m ar k m i d d l e e a s t

GCC Update

he Lowry Hotel on the Manchester-Salford border may be named after a famous painter from the North of England, but it is now looking to master a different art: attracting guests from the Gulf. The five-star property — one of only a few in the city — is surrounded by the kind of old buildings painted by its namesake LS Lowry, famed for his depictions of industrial English cities and distinctive “matchstick men”. Yet the curved-glass façade is every bit the modern hotel, with a string of celebrities — from Robbie Williams and Pharrell Williams to footballers from the two big Manchester teams — having been snapped here. Rooms booked on weeknights this month start at around £110, though booking the luxury penthouse suite – which comes with a baby grand piano and lounge-dining room — will set you back as much as £4,000 for the night. Guests from the Gulf spent about 900 nights at the hotel last year, something the hotel hopes to double in 2015. It is offering guests from the region special packages that include bonus nights, as well as halal food and cleaning services for the ‘supercars’ beloved of the wealthiest Arab tourists. Here Adrian Ellis, general manager of The Lowry Hotel, explains the drive to attract more guests from the region. Why are more Gulf Arabs visiting Manchester? We found last year that there was quite a growth in the number of people coming from the Gulf region. Manchester seems to have become a popular destination. Number one is that they are looking for a cool climate. And compared to Dubai, where it’s 50 degrees, it’s definitely cooler. They’re also looking for opportunities to shop, and we’re in a very good location here. Whether you’re shopping at Harvey Nichols, Selfridges or House of Fraser, all of those are a few minutes’ walk. Does football draw tourists from the Arab world? That’s a big pull. At Manchester United you have the football museum, and I’m sure that’s very popular. People would either like to tour the grounds, or see the museums – it’s a big attraction I think. Especially as football is so popular in that part of the world. The Lowry was the first five-star hotel in Manchester — but it’s not any more. How does your hotel compare with the others? The other hotels are all very big properties, the high-200, into the 300 bedrooms. Whereas we’re 165 including the suites. So we’re more of a boutique feel. And I think that gives us an unique advantage: A bigger bedroom size, a boutique feel, a bit of individuality.

b e n c h m ar k m i d d l e e a s t | M a y 2 0 15

M a y 2 0 15 | b e n c h m ar k m i d d l e e a s t

GCC Update

DABO deal makes Edelman UAE twice as strong Will the union between local PR agency DABO & Co and global communications titan Edelman spawn a regional PR powerhouse?

Lucy D’abo

Siobhán Adams

he recent acquisition of UAEbased consumer PR agency DABO & Co by the world’s number one communications conglomerate, US-based Edelman, has the potential to create a regional PR powerhouse. It also marks a significant milestone in the Middle East’s buoyant but still largely media relations-led PR sector. Now in its 11th year DABO is the brainchild of UAE-born, managing partners Camilla and Lucy D’abo. The sisters founded their agency to offer clients a deep dive, consumer insight-driven, creative strategy, a key competitive differentiator at a time when regional PR generally relied on, and to an extent it still does, tactical media-relations, press releases and events. 16

b e n c h m ar k m i d d l e e a s t | M a y 2 0 15

An impressive array of global and regional brands such as Rolls Royce, Jumeirah and Unilever soon signed up to DABO attracted, no doubt, by its innovative, creative communications and experiential marketing ethos. Today it employs 65 people; offers PR across all products and service sectors; has a specialists digital and events practices; services 40 clients; operates in 15 Mena markets and boasts a clutch of 16 MEPRA — Middle East PR Association — awards. Crucially it was also cited in industry bellwether monitor Holmes Report as one of the fastest growing firms in Asia Pacific for 2013 having generated fees of $3.7m having grown 20.7 per cent in the same year. Little wonder then that it caught the eye of mighty Edelman which, along with many global communications, is looking to strengthen its position in ‘emerging markets.’

"As the industry develops in the Middle East, this partnership will position us to create engaging and innovative communications programs that support our clients' needs,” said Matthew Harrington, global chief operating officer, Edelman in a press statement. Edelman, which has held onto its global number one spot for four consecutive years, has 5,500 employees in 65 cities and affiliates in 40 cities. Latest data from Holmes shows it grew 12 per cent to $747 million in 2013. The agency is no stranger to the UAE. It opened in the Middle East in Abu Dhabi in 2008. Since then it has opened in Dubai with 85 consultants working in dedicated practices spanning corporate, digital, technology, health and consumer. Regional clients include a wish list of corporate heavyweights including Mubadala, Abu Dhabi’s Cleveland Clinic and Majid Al Futtaim. M a y 2 0 15 | b e n c h m ar k m i d d l e e a s t

GCC Update

Camilla D’abo

The international PR industry has rebounded strongly post global crisis, unlike its advertising cousins whose comeback is decidedly more faltering

b e n c h m ar k m i d d l e e a s t | M a y 2 0 15

With DABO on board Edelman UAE almost doubles in size. Increased staffing levels and boosted billings are however only a fraction of what this acquisition represents longer term. It is the complementary skills sets, global best practice melded with local insights and merged client lists that will recalibrate the larger entity into a more solid, futureproofed, holistic practice. From DABO’s perspective it leads it clients deeper into the strategic territory it has always colonised having promoted itself as an integrated communications agency — versus PR only — from the outset. Through Edelman it can, for example, deploy its proprietary, state-of-the-art research and analytic tool, Edelman Berland billed as offering clients the “intelligence to make their communications...the smartest they can.”

Data mining and storage meanwhile are capabilities that all marketing agencies need to offer as contemporary and indeed future consumers increasingly manage their lives more online than offline. Edelman again tops the league here with its investment and expertise of advanced data management, all of which DABO can now tap into to enhance its digital practice. For Edelman, perhaps more associated with corporate and business communications, DABO adds creative flair and patina of glitz, not usually a key consideration internationally but an absolute necessity for the UAE’s uber glamourous media scene. In terms of local and regional knowledge, the d’Abos are unassailable having been lived in Dubai for most of their lives. “It will provide enormous opportunities to leverage the strength of the Edelman network and intellectual capital, combined with M a y 2 0 15 | b e n c h m ar k m i d d l e e a s t

GCC Update

The outlook for the global PR community remains highly positive, with growth expected and budget discussions positive Francis Ingham Chief Executive, ICCO

our award-winning creativity and commitment to exceptional levels of client servicing,” added d’Abo in the same statement. “Not only will our existing clients benefit greatly from this, it also constitutes a compelling proposition to brands seeking a new integrated approach in the region.” Timing also plays a crucial role. The international PR industry has rebounded strongly post global crisis, unlike its advertising cousins whose comeback is decidedly more faltering. The scarcity of meaningful data regarding marketing spend — across all disciplines — in the Middle East is well known but, latest global PR data (2013/14 from Holmes) shows 11 per cent industry growth, much of which was fuelled by the independent agencies...such as DABO and Edelman. Independents inched ahead of the industry average with 12.4 per cent growth for the same period. Holmes also notes that the independent’s reported fee income of $4.5 bn is fast catching up with that of global marketing’s top holding groups — WPP, Omnicom, Interpublic and Publicis Groupe — of $4.7bn. (Interestingly, the ‘big four’ are major players the Middle East with substantial business and regional headquarters in Dubai.) A recent survey from the ICCO — the International Communications Consultancy Organisation — polled in March 2015 anecdotally corroborates the Holmes data. The ICCO represents 2,000 PR agencies around the world. Its research found that 40 per cent of agencies expected client budget increases while 50 per cent said that the industry would grow by at a minimum 10 per cent going into 2016. 18

b e n c h m ar k m i d d l e e a s t | M a y 2 0 15

M a y 2 0 15 | b e n c h m ar k m i d d l e e a s t

GCC Update

"The outlook for the global PR community remains highly positive, with growth expected and budget discussions positive,” said ICCO chief executive, Francis Ingham in a press statement. “In large part, this reflects the resilience and flexibility of consultancies — their ability to change their models, to diversify their offerings, and to grow into new markets is their trademark, and is providing the engine of their growth." An apt description of the new Edelman UAE and maybe one that could justify DABO’s assertion that the acquisition, through which both sisters retain their positions, creates a “regional powerhouse”. From a broader industry perspective the deal may also represent shift in business dynamics within the sector. According to Alex Malouf, Vice-Chair, MEPRA Academy Committee it may be a sign that the market will both consolidate and mature in the short terms as clients look for a wider range of services that offer b e n c h m ar k m i d d l e e a s t | M a y 2 0 15

increasing value to both the business as well as its reputation. “We believe that businesses are increasingly seeing the need to engage in effective communications practices, particularly in the consumer space. “The region's consumers are looking to engage with brands in conversations which are both authentic and relevant. Such consolidation should promote best practices in the Middle East's communications sector.” "This is a classic partnership where the whole is greater than the sum of its parts," said Edelman’s Robert Holdheim, CEO South Asia, MEA. "Edelman's leading position as a full service agency complements DABO & CO's creativity, excellent reputation in consumer communications and strength in events and experiential marketing. Add Edelman's regional and global strength and you have a combination that we feel will be hard to beat." Financials were not disclosed. M a y 2 0 15 | b e n c h m ar k m i d d l e e a s t

Cover Feature

Rent or buy in Dubai?

benchmark m miiddddllee eeaasstt || M Maayy 22001 155

M a y 2 0 15 | b e n c h m ar k m i d d l e e a s t

Cover Feature

ith the rising cost of rentals in Dubai, and a healthy property market that looks set to continue growing, buying property is becoming an increasingly attractive prospect for expatriates looking to lay down

their roots in the UAE. Helen Tatham, managing partner of Prime Places, tells Benchmark about the purchasing process, the important criteria every house hunter needs to know and how to get a mortgage as an expatriate.

b e n c h m ar k m i d d l e e a s t | M a y 2 0 15

M Maayy 22001155 || bbeenncchhm maarr k m i d d l e e a s t

Cover Feature

Helen Tatham

With housing rents and prices in the UAE continuing to increase should expatriates consider taking the plunge and buy a home? If one's personal circumstances are such that, firstly you can afford to do so, and secondly, you are planning to stay in the UAE for next three to five years, then yes, absolutely. Sales prices have gradually dipped over the past 12 months, which is construed as being a correction following the inflated prices preceding and around the Expo 2020 announcement, bringing them down to a more palatable level. One certainty is that rent values are high, making it a very expensive place to live as a tenant. Does it make financial sense to buy now instead of rent? On the basis of securing a 25-year mortgage at an interest rate of 3.9% p.a., calculations dictate that it is cheaper to pay off a mortgage every month than to rent in the â&#x20AC;&#x153;midincomeâ&#x20AC;? areas of Dubai. If your company is paying the rent then it may not be such an issue but even so, why not invest in another yield-producing property as an investment and benefit from a capital gain over the next three to five years as well? What are the logistics of doing so? The first task is to make sure that you qualify for a mortgage if you need one. A good mortgage broker is the ideal route for this as they will help you identify the bank best suited for your circumstances. Once you are sure of what you can afford then find a good and trustworthy real estate company to show you some properties within your price range. Sellers will not entertain offers unless the buyer is pre-approved (if 22

b e n c h m ar k m i d d l e e a s t | M a y 2 0 15

financed) so make sure to be in this position. Successful negotiations will take you to the stage of signing a sales agreement and putting down a 10 per cent deposit. The nature of the contract will depend upon whether the buyer and/or seller are financed but the longest it should take to acquire the property is 8 weeks. Where can non-GCC foreigners actually buy? All Freehold areas come under this banner whereby a non-national can own property 100 per cent registered in their name. The major master developments in Dubai include Downtown, Dubai Marina, Palm Jumeirah, Emirates Living, Dubailand, Jumeirah Village, Mohammed bin Rashid City. Some projects only grant Leasehold ownership, such as The Green Community. What tips would you give to buyers here? I would advise buyers to do their market research before committing to a purchase. The system is fairly straightforward in the UAE but even so associated costs are not insignificant and it would be annoying to make the wrong decision. Location, community costs and build quality are amongst the main considerations. With new infrastructure appearing all the time, make sure that you wonâ&#x20AC;&#x2122;t suddenly be subject to a change in landscape on your doorstep. Find a reliable and credible real estate agent to guide you through the process because, even though you might find the home of your dreams, it is essential that your buying experience is managed properly and that all due diligence has been carried out on the property in choice. M a y 2 0 15 | b e n c h m ar k m i d d l e e a s t

Cover Feature

Any hidden costs such as annual facility management fees that buyers need to be aware of? All costs are there in the public domain but clearly one should request this information before committing to a purchase. Service charges are set by the developer, until such a time as Home Owner Associations take more control. An additional cost could be District Cooling but not for every project. Deposits will be required for the registration of all utility accounts. What are the financial loan options for those who need a cash influx before buying? Borrowing is fairly fluid at the moment for residents of the UAE as long as one is in secure employment and has been for more than six months. The mortgage cap introduced in December 2013 has had an adverse effect on the number of transactions and achieved its objective to cool down prices. For properties valued at less than Dh5milb e n c h m ar k m i d d l e e a s t | M a y 2 0 15

lion, one can borrow up to 75 per cent of the purchase price and for over Dh5million this reduces to 65 per cent. The deposit required plus the associated fees of near to seven per cent will pour cold water on some peoples dreams but we are hoping to see a relaxation of this at some stage, particularly for first time buyers. Where are the most attractive options to invest in a property? The most attractive areas to live are generally the most expensive. End users will pay for infrastructure and amenities and there is a natural draw to those developments within easy reach of schools. For pure investment or value for money then the emerging areas of Dubai are of the most interest. These include Dubai Sports City, Jumeirah Village, Dubailand and now off towards Dubai World Central in the run up towards Expo 2020 and the new airport. If one can use their imagination then the benefits will be reaped in the years to come.

The most attractive areas to live are generally the most expensive. End users will pay for infrastructure and amenities and there is a natural draw to those developments within easy reach of schools HELEN TATHAM Managing Partner of Prime Places

M a y 2 0 15 | b e n c h m ar k m i d d l e e a s t

Cover Feature

Todayâ&#x20AC;&#x2122;s residents see the UAE as a home for the longer term and therefore are more comfortable with investing in that future

How much can residents expect to pay out for an annual mortgage repayment for, say a two-bedroom property in Dubai? Going on the general gauge of a 25-year mortgage at 3.9% interest p.a., monthly repayments will cost approximately between Dh10,000 to 11,000 and therefore up to Dh132,000 p.a. A two bedroom to rent in an equivalent area could cost up to Dh160,000 p.a. Are buyers now more end-users rather than investors? There are a lot more end users now. The philosophy of expatriate residents in the UAE has changed over the years to one of longevity. It is not so transient with contracts of two or three years. Todayâ&#x20AC;&#x2122;s residents see the UAE as a home for the longer term and therefore are more comfortable with investing in that future. But for the same reason the investors continue to add acquisitions to their portfolios, recognising the upside of buying into a market where future demand will remain strong, plus achieving stronger yields typical of an emerging market than they would achieve in other global centres. 24

b e n c h m ar k m i d d l e e a s t | M a y 2 0 15

M a y 2 0 15 | b e n c h m ar k m i d d l e e a s t

Cover Feature

Is Dubai is now increasingly being seen as a place you can base yourself long-term? Dubai welcomes talent and inspiration, and as such makes it a very accessible to live and work. The lifestyle is second to none and itâ&#x20AC;&#x2122;s difficult to find a suitable comparison in other global hubs. I think that with the amazing connectivity, new schools, an international financial centre and a cosmopolitan culture, the UAE will become a long-term post for families and many people from different walks of life. It is a place that is difficult to leave with so much to offer and the added incentive of a great investment opportunity within the property market. How do you envision the real estate market to progress? I think that the real estate market will continue to boom in the long term. We had a rough ride through 2009-11 but a lot of good came out of it in terms of better regulation and less speculation. The Government will support the growth and stability of real estate as has already been demonstrated. I think that the onus is on the investor and developer not to overstretch themselves which is why we witnessed so many default situations in the downturn. There is a debate of oversupply but it has also been acknowledged that there is a desperate need for affordable housing, the inventory of which will be swallowed up for sure. Capital values are still reasonable compared to more mature markets and there is a strong attraction for the wealthy to position their residency within the UAE. I cannot see any of this changing within the realms of what we can control but external factors will always remain a threat to any country. I feel that the real estate market will continue to evolve into one of the best in the world, within a country with a great future founded on its geographical positioning and entrepreneurial spirit, attracting the best of the best people in the world.

CORRECTION BOX In the last edition of Benchmark, Helen Tathamâ&#x20AC;&#x2122;s position was published incorrectly. Her current title is the managing partner of Prime Places. We apologise for any inconvenience caused.

b e n c h m ar k m i d d l e e a s t | M a y 2 0 15

M a y 2 0 15 | b e n c h m ar k m i d d l e e a s t

Industry Focus Property

There’s an ‘acute’ shortage of affordable housing Abu Dhabi is not a cheap place to live, with property prices having skyrocketed since the economic downturn. Sales prices grew by 25 percent in both 2013 and 2014, when rents were up 17 percent and 11 percent respectively, according to JLL. The consultancy said there is an “acute shortage of affordable housing” in its Abu Dhabi Real Estate Market Overview, which was released on the first day of Cityscape. But developers are picking up on this: Aldar, the UAE capital’s biggest listed developer, said last month that it is launching its first properties geared towards middle-earners. Its ‘Meera’ development on Al Reem Island, will include 400 units starting at Dh899,000 ($244,800) for a one-bedroom apartment, targets those earning between Dh20,000 and Dh30,000 a month. Some say other developers could follow Aldar’s lead.

Ben Flanagan

tability’ was the watchword April’s Cityscape Abu Dhabi, where delegates pondered how the property market will fare in the new age of mega-low oil prices. After the rapid recovery in the UAE capital’s real-estate market in the wake of the financial downturn, sales and rental prices are still growing, but at a much slower rate. And the big question at Cityscape was whether lower energy prices will see the market go south. Here are the ten key takeaways from last month’s property show.

b e n c h m ar k m i d d l e e a s t | M a y 2 0 15

M a y 2 0 15 | b e n c h m ar k m i d d l e e a s t

Property Industry Focus

Good news for tenants, as rents slow Despite the astronomic increase in prices, forecasters point to a more stable outlook for the Abu Dhabi property market this year. David Dudley, regional director at the consultancy JLL, said rental growth is expected to slow to “single-digit” increases this year, with sales prices flat. Cluttons expects the market to stablise, but said certain areas such as Saadiyat Island — home to the future Louvre Abu Dhabi and Guggenheim museums — will see a better-than-average performance.

b e n c h m ar k m i d d l e e a s t | M a y 2 0 15

Everyone is thinking about the oil price The rapid decline in oil prices has not yet had a big impact on Abu Dhabi’s property sector — but some delegates at Cityscape were not ruling out such a scenario. “Abu Dhabi, like other Opec member-states, will be impacted by what happens with oil prices. Perhaps Abu Dhabi will feel any negative impact a bit later because of the large cushion of reserves that have been built up when oil prices were over $100 a barrel,” said Faisal Durrani, international research and business-development manager at Cluttons. “We are concerned about where oil prices are going, particularly if the low oil-price environment persists. But you’ve got the government pushing ahead with economic diversification [to] tip the scales in favour of the non-oil sector,” he added. JLL said it expects a reduction in government spending due to lower oil prices, leading to slower growth in demand. “On the other hand, the short-term supply picture is generally constrained leading to relatively stable market conditions,” it said.

Posh offices are in demand JLL’s David Dudley says there is a “pretty high” office-vacancy rate in Abu Dhabi offices of about 25 percent. But vacancy rates in prime blocks are much lower, he added. Durrani pointed to the Abu Dhabi Global Market (ADGM), the new international financial centre in Abu Dhabi, where he has seen “genuine interest” from international companies despite the “significantly higher” rents than elsewhere in Abu Dhabi. According to Cluttons, the launch of the ADGM will meet “pent-up demand” for financial institutions looking to enter the Abu Dhabi market.

M a y 2 0 15 | b e n c h m ar k m i d d l e e a s t

Industry Focus Property

Land sales a growing market Aldar recently sold within a week all 281 land plots at its Al Merief masterplanned community in Khalifa City. Sales of the plots — designated for villas, and which were only offered to Emirati investors — netted Dh600 million. Aldar chief development officer Talal Al Dhiyebi told Cityscape delegates that the developer plans more plot sales in the future. “It was the first time that we targeted that particular segment, and we saw huge demand,” he said. “Definitely part of our growth… pipeline will include more developments along those residential plot sales.”

b e n c h m ar k m i d d l e e a s t | M a y 2 0 15

Emirati-only projects gaining popularity Following Aldar’s launch of the Al Merief project, it also announced the West Yas development of 1,000 villas on Yas Island, also designated solely for UAE nationals. “Nationals from all over the UAE are very attracted by the stability of the Abu Dhabi market. The increase in job openings and overall healthy economy are directly reflected in their purchasing power,” said Al Dhiyebi. Fellow developer Wahat Al Zaweya also showcased an Emirati-only development at Cityscape.

Dubai wants a look-in too Several Dubai developers also exhibited at Cityscape Abu Dhabi. Seven Tides was marketing two key projects on the Palm Jumeirah manmade islands at the event. The units at Dukes Oceana Dubai Residences, a development of hotel apartments, sold out within a week of launching to the market, it said ahead of the exhibition.

M a y 2 0 15 | b e n c h m ar k m i d d l e e a s t

Property Industry Focus

10 9 8

Abu Dhabi hospitality market on the rise Hotels in the UAE capital saw a strong first quarter of the year, JLL said in its report released at Cityscape. Room rates increased for the first time since 2010, with occupancies picking up slightly to stand at 77 percent in February.

b e n c h m ar k m i d d l e e a s t | M a y 2 0 15

More projects get the green light The Urban Planning Council (UPC), which approves major projects in Abu Dhabi, said at Cityscape it had given the goahead for 22 projects during the first quarter of 2015. Spanning a total of 700,000 square meters, the projects include an extension to the Repton school, the Al Noor Tower on Al Reem Island, and the twostorey Al Falah Mall close to the airport. More than 80 percent of Abu Dhabi-based developers launched new projects at Cityscape Abu Dhabi this year, according to the show organiser.

But there’s little ‘wow’ factor While Dubai developers are busy smashing records with the world’s biggest skyscrapers, and building underwater villas and madcap tropical rainforests, things are a little more subdued in the UAE capital. And so the announcements at Cityscape Abu Dhabi did not have the same ‘wow factor’ as one might expect in neighbouring Dubai. “The scale of development here is always more subdued compared to Dubai, but still pretty significant for this market,” said Durrani. “We have seen projects launch, but they’re all small villa schemes — a single tower here and there, rather than the large master-planned communities that we’re used to seeing up the road.”

M a y 2 0 15 | b e n c h m ar k m i d d l e e a s t

Industry Focus Property

maarrkk m m ii d d l e e a s t | M bbeenncchhm Maayy 22001155

M a y 2 0 15 | b e n c h m ar k m i d d l e e a s t

Property Industry Focus

The Floating Retreat Dubai has had its fair share of outlandish property developments, but ‘The Floating Seahorse’ takes it to a whole new level — underwater

Ben Flanagan

roperty developer Kleindienst Group made waves at the recent Cityscape Abu Dhabi exhibition, where it marketed 42 novel floating homes it plans to build in the Arabian Gulf. To ‘sleep with the fishes’ may be a line from The Godfather — but for the Kleindienst Group the idea is more of a marketing tool than mafia threat. The Floating Seahorse villas — which are more like boats — feature three stories, with the en-suite bedroom completely submerged under water, offering views of the local sea-life from the bed. The sea-level accommodation will include a sun deck, kitchen and dining area, while there’s more relaxation space — not to mention a glass-bottomed Jacuzzi — on the upper level. The development, which was designed in Dubai, was officially launched at the recent Dubai International Boat Show. It is set to be built close to the man-made islands of The World, the troubled development masterplanned by Nakheel, and where Kleindienst Group is also developing a series of islands. Josef Kleindienst, chief executive of the Kleindienst Group, said most of the Dh6.5 million floating homes of The Floating Seahorse have been sold — despite not yet having received planning approval. He told Benchmark why he thinks The Floating Seahorse can work in other markets — as well as giving an update about his wider plans for developing islands of The World.

b e n c h m ar k m i d d l e e a s t | M a y 2 0 15

M a y 2 0 15 | b e n c h m ar k m i d d l e e a s t

Industry Focus Property

b e n c h m ar k m i d d l e e a s t | M a y 2 0 15

M a y 2 0 15 | b e n c h m ar k m i d d l e e a s t

Property Industry Focus

Q&A with Josef Kleindienst, the chief executive of Kleindienst Group: What was the reaction to Kleindienst Group’s ‘Floating Seahorse’ development, which was on show at Cityscape Abu Dhabi? The Floating Seahorse is essentially a boat, not a villa, and only 42 units have been launched in Dubai. The iconic one-of-a-kind product has since received a great deal of interest from media, clients and investors in the UAE, Saudi Arabia, Qatar, Maldives, Seychelles, Caribbean, Sweden and Norway to name but a few. Since launching The Floating Seahorse we have been inundated with local, regional and international enquiries. We are excited to not just offer people a once-in-a-lifetime investment opportunity in Dubai but on a global scale. The Floating Seahorse is not restricted to Dubai waters and can be designed and fabricated in Dubai for other resorts and destinations worldwide. What is the target market for these villas, and how many been sold? They are almost sold out. The international elite and investors are our clients. The Floating Seahorse buyers or investors include Arabs, Europeans and Asians so far. Have they won planning approval from Nakheel yet? There was confusion initially about The Floating Seahorse as we named it The Floating Villa to begin with — but Nakheel was unable to approve it. As it is essentially a boat not a villa, we will obtain apb e n c h m ar k m i d d l e e a s t | M a y 2 0 15

provals under the Maritime Authorities. The Dubai residential property market is expected to soften in the first half of the year, with prices down 1-5 percent, according to Deloitte. What is your view of the market? Normal locations are still quite pricey in Dubai but prime prestigious locations are still very reasonably priced. What is the latest on the development of the six ‘Heart of Europe’ islands on The World? Our islands are shaped and compacted, some precast work has started… and we are almost ready to start building as soon as our concrete is delivered. You embarked on phase two of the development — including Sweden Island — on December. How is that progressing? The Sweden Island contractor is appointed and he is preparing his mobilization. Work will start in June and complete in December 2016. When is phase three of The Heart of Europe expected to commence and what will that involve? We will announce more details soon. The Heart of Europe is set to feature climate-controlled areas with ‘rain showers and snow-lined streets’. Is that still on the agenda? Yes, it is one of The Heart of Europe’s main attractions! M a y 2 0 15 | b e n c h m ar k m i d d l e e a s t

Industry Focus Property

High end property brokers

ubai is known for its superluxury residences. Andrew Cleator, Luxury Sales Director at Luxhabitat (www. luxhabitat.ae) — the only high-end property brokerage in UAE with the most exclusive portfolio of luxury villas, apartments and penthouses for sale and rent in Dubai, gives Benchmark the low down on some of the Emirate’s most expensive and lavish homes and where to live if money really was no object. Describe the Luxhabitat brand — which gap do you fill in the market? Luxhabitat is Dubai's only high-end real estate brokerage, setting extraordinary records in the marketing and selling of the most important real estate properties priced exclusively in excess of Dh5million. Who are your typical clientele? We work with high net worth individuals and property investors from all over the world. Tell us about you most exclusive portfolio of luxury villas, apartments and penthouses for sale and rent in Dubai? We are focused in sourcing the best quality properties in premium residential areas such as Emirates Hills, Palm Jumeirah, Al Barari, Jumeirah Islands, Jumeirah Golf Estates, Meadows, Lakes and Arabian Ranches. We also operate in the best apartments and penthouses in Dubai-based upscale buildings such as Le Rêve, Index Tower, Six Towers, Burj Khalifa, and The Address Hotels among others. 34

b e n c h m ar k m i d d l e e a s t | M a y 2 0 15

Most expensive property, Emirates Hills AED 175 million

M a y 2 0 15 | b e n c h m ar k m i d d l e e a s t

Property Industry Focus

Palm Jumeirah Signature AED 49.5 million

Shams JBR Rental AED 170,00 per year

If money was no object, what is the most expensive property I could buy? The most expensive listing we have is for a villa in Emirates Hills for Dh175 million. And the most expensive rental? The most expensive rental we have is for an apartment at Le RĂŞve in Dubai Marina at Dh1 million per year. Can you tell us the most expensive property that has been purchased via Luxhabitat? The most expensive property we sold was in 2013 for an Emirates Hills villa worth Dh47.5 million. What makes Dubai the place to live for those with a taste for luxury? Dubai has everything for people with a taste for luxury. The lifestyle for people who can b e n c h m ar k m i d d l e e a s t | M a y 2 0 15

The most expensive property we sold was in 2013 for an Emirates Hills villa worth Dh47.5 million Andrew cleator Luxury Sales Director, Luxhabitat

afford luxury living has to be one of the very best available anywhere in the world. To name a few; a shopping paradise with every top brand on offer everywhere, amazing five star hotels on amazing beaches with world class night clubs. Top class schools and universities at your doorstep and of course taxfree salaries combined with a super safe low crime environment. Nowhere else in the world can you enjoy your wealth in such a luxurious manor and still feel safe and free. What are the most popular areas of the emirate to buy or rent? In the luxury sector the freehold villa areas are certainly Emirates Hills, Palm Jumeirah, Al Barari, and more lately the new Jumeirah Golf Estates. When it comes to apartments and penthouses it has to be Downtown Burj Khalifa, DIFC, Dubai Marina and Palm Jumeirah. M a y 2 0 15 | b e n c h m ar k m i d d l e e a s t

Industry Focus Property

Elite Residence AED 55 million

Lime Tree Valley, Jumeirah Golf Estates AED 11.3 million

b e n c h m ar k m i d d l e e a s t | M a y 2 0 15

M a y 2 0 15 | b e n c h m ar k m i d d l e e a s t

Property Industry Focus

There are so many different requests to be honest due to buyers coming from all four corners of the world. Recently the number one request is “quality” which to a certain extent was lacking in the past

Any up and coming five-star apartment buildings potential purchasers/renters should keep an eye out for? Yes plenty, this is Dubai of course. This year we will see the long awaited Palazzo Versace and its sister development the D1 (Dubai One) which are the debutant developments in Culture Village. Also in the five star pipeline, we will see multiple new “Address” downtown developments which are Emaar's flagship hotel apartment models; such as Fountain Views, Sky Views and the Address Boulevard followed by Emaar’s exciting Opera Grand in the new Downtown Opera district. Something else to watch out for in the neighbouring Business bay district is “Volante" sitting directly on the water by the same team behind Dubai Marina’s No1 all Penthouse tower Le Reve. What are the most common requests from house hunters? There are so many different requests to be honest due to buyers coming from all four corners of the world. Recently the number one request is “quality” which to a certain extent was lacking in the past. Once luxury buyers acknowledge quality then it’s all about location of course. Some buyers want the beach, others want near the action and others just want upmost privacy. The UAE has traditionally been seen as a renters market. Are the tides turning? Are more people now looking to purchase a home? Why? Non-GCC expats living in Dubai were previously only permitted to rent property, or own property on the federal law approved 99-year leasehold basis. This all changed in 2002, when the Dubai government permitted the ownership of freehold property to expats, which changed the real estate industry overnight, this was eventually cemented into a law by 2006. Since then many local and overseas backs have steadily offered better finance/mortgage deals making more and more cost effective to buy in the long run that rent.

Le Reve Most expensive rental AED 1 million

b e n c h m ar k m i d d l e e a s t | M a y 2 0 15

How long should people spend searching for their dream home? This is a difficult one. Some people arrive in Dubai with no idea where their future dream house is located. This client should still take no longer than two or three weeks to select a dream home as long as they choose their agency carefully. Then for the client that already knows their ideal location and how much they wish to spend should take a maximum of week — again if partnered with the right agency. M a y 2 0 15 | b e n c h m ar k m i d d l e e a s t

Industry Focus Property

Le Vault S

o you've bought your super mansion in the UAE, now what do you put in it, and how do you keep your priceless heirlooms safe? Samer Mashal, Owner and Managing Director of Le Vault, talks to Benchmark.

Obviously there is no shortage of high-net worth individuals in Abu Dhabi and the UAE, and no shortage of suppliers targeting them, what's make you different? Le Vault is a high-end luxury retailer that offers bespoke products. The retailer launched its first boutique in Abu Dhabi in April this year, bringing high-end luxury goods to the Middle East. The boutique showcases a collection of the finest luxury products from internationally renowned brands that are inspired by traditional Germanand Italian designs including DĂśttling, Royal Trunk, IT ONE OFF etc. All products at Le Vault are unique and developed by experienced crafters and designers that invest time and resources to create exclusive masterpieces which suit the style of every customer. 38

b e n c h m ar k m i d d l e e a s t | M a y 2 0 15

Who are your customers and what are they looking for? We have launched Le Vault for the sophisticated buyer, who craves elegance and luxury. Le Vault boutique houses exceptional pieces of unique craftsmanship that is perfect for those who have an interest for extreme luxury. Our target market is very niche and only a few people understand this kind of art and share a passion for craftsmanship, appreciation of bespoke designs. Do you simply sell safes? How many products do you stock? No we donâ&#x20AC;&#x2122;t, we offer end-to-end bespoke services, creating scintillating personalized objects of beauty that last for generations. The brands represented in the boutique all share the same concept. Le Vault partM a y 2 0 15 | b e n c h m ar k m i d d l e e a s t

Property Industry Focus

ners with internationally renowned luxury brands that are inspired by traditional German, and Italian designs. Currently we work with such brands as Döttling, Royal Trunk and IT ONE OFF. We design and manufacture every masterpiece based on the request of every client. Each piece is unique and different in its own way, to create it we need three to four months. We don’t hold any piece in stock as we direct orders based on our client’s customization. Is there such thing as an uncrackable safe? With our high security Vault doors & our sophisticated design, Doettling offers a shield to your jewels. Even our smallest safes have been fitted with mini Vault doors you could possibly find in the market. In Doettling success comes in 3 different stages, Security, Luxury, and Bespoke services. There is no room for error.’ Talk us through your story, where did you start in business and how did you get here? I established Le Vault in Abu-Dhabi, after following my passion for craftsmanship and appreciation of bespoke designs. It was my passion for watches that led me to open up Le Vault in 2015. I started my career in 2007 at Al Barakah Group, a family owned business that specializes in property management, catering and construction. After three years of working within the Group, I decided to pursue my own passion alongside my current role. My vision of opening up a high-end luxury boutique was soon realised in 2012, when I met Le Vault’s first business partner Markus Döttling, Managing Partner of Döttling Germany. The whole vision and premise behind Le Vault, is to bring internationally renowned bespoke products to the Middle East. There is a huge gap in the market when it comes to bespoke material and Le Vault bridges this gap by taking individualism to a whole new level. In 2013, I met Le Vault’s second business partner Guido Boem, CEO of Royal Trunk. This second collaboration formalised the journey and the culmination of Le Vault in 2015, with future plans to expand in different markets. What is the most important thing to remember when dealing with high net worth customers? Details, It’s all about details and luxury. It begins with the moment of discussion then offering the different samples and ideas, and finally having that idea sketched into design and produced. b e n c h m ar k m i d d l e e a s t | M a y 2 0 15

M a y 2 0 15 | b e n c h m ar k m i d d l e e a s t

Industry Focus Property

b e n c h m ar k m i d d l e e a s t | M a y 2 0 15

M a y 2 0 15 | b e n c h m ar k m i d d l e e a s t

Property Industry Focus

Are they always demanding? We accept any demands by clients and are open for various discussions. We create the uncreatable and take challenges professionally. Luxury has become such a homogenized concept, how do you define it, or redefine it? We don’t just offer luxury we re-define it and create a product that puts together a client’s needs in to a masterpiece which others failed to do or maybe tried but still failed to revive a vision in to reality. What are your top five selling pieces, what is the one thing you sell that every house must have? From the German Safes I would classify the Liberty line as the most in demand as for the watch winders the Guardian and the Gyrowinder comes next. Last two products are the Venecia Trunk from Italy and the U.F.O Carbon fiber Rocking/swinging Chair. Our products define extreme luxury, you need to have the passion of craftsmanship to appreciate a product produced by one of our partners, it’s a piece of Art and luxury definition to its individual owner.

What is the most expensive item you sell, and why would someone spend so much on it? Doettlingbrand is our most expensive selection under our collection and the collectors Room concept comes first in line for the elite individual who owns plenty of Jewellery, gems, collectables etc.. Prices start from 350,000 Thousand Euro’s. Whether watches, jewellery, works of art, or weapons private collections of the highest quality also requires prestigious and secure rooms. Creating an exquisite ambience for these valuables, from basic planning through the design concept to the complete execution; our specialists in the areas of wood, metal, leather, and design are predestined for this task. With collector Rooms we provide a service to end customers, architects, and designers that leaves no wish unfulfilled. It all starts with the choice of two basic principle: a fully secured room with Doettling high-security access or a room that can be normally entered featuring Doettling safes naturally integrated into the furnishings. The finest materials and high-security display cabinets to showcase special exhibits round out the offer. For the first time ever, Doettling is offering this end-to-end service package from a single source. Collectors wall concept is a full customizable project handled by Doettling and prices vary depending on the dimensions of the room, material, and design. Security in the UAE is incredibly high, is there really a need for a Dh350, 000 safe? It’s a matter of selection and lifestyle. You can choose how you would want to represent yourself. You could compare our Safe boxes with the world of Automobiles, you can still drive from A to B in a Honda and you can drive the same distance in a Bugatti, It’s an added value to the individual and the way he would want to represent himself and that is what Doettling is doing. What are your growth plans? We have recently set-up in Abu-Dhabi with plans to expand in international markets including Europe and USA. What impresses you? People who appreciates our work and admires through the journey of creation impresses me most. This concept I created in the UAE is a way to share my passion and joy in Bespoke Craftsmanship with the rest of the public and their happiness and appreciation is my self-esteem.

b e n c h m ar k m i d d l e e a s t | M a y 2 0 15

M a y 2 0 15 | b e n c h m ar k m i d d l e e a s t

Industry Focus Property

Interview with Karim Helal, co-founder and CEO of ProTenders.com

ising costs, security risks, slow, outdated systems and processing mountains of paperwork were just a few of the issues highlighted by key

players in the construction industry in the latest annual global sector survey by paper-free online bidding platform, ProTenders.com.

The UAE-based firm surveyed more than 500 regional and international construction businesses to provide insights into the sectorâ&#x20AC;&#x2122;s pain points around exploring new business and identifying and engaging the right construction partners. We spoke to ProTenders.com co-founder and CEO, Karim Helal, to find out more about these issues, how they can be tackled and what the future holds for this rapidly changing building landscape. Businesses you surveyed have identified some major issues around project bidding, tendering and generating leads amongst others. How do you see them being resolved? Most of these issues can be resolved with technology. ProTenders for example, is cloud-based so members can access the platform from anywhere in the world to search and engage with potential construction partners and bid on projects â&#x20AC;&#x201D; crucial say, with lead generation, which requires a consistent and efficient presence that can scale and reach the maximum number of eyeballs. Paper-based company profiles that go out 42

b e n c h m ar k m i d d l e e a s t | M a y 2 0 15

of date as soon as they are printed, or using flash-based websites, do not work when trying to grow business. These days clients are using online methods to find partners and they want to get answers to their questions quickly, rather than navigate around an unfamiliar company website. Prequalification and bidding paperwork can also be replaced by suitable technology. In this case, technology standardizes forms and makes it easier for both sides to supply and extract information. It also completely removes the cost of hundreds of sheets of paper and removes the possibility of errors. Tech-based communication tools have found enormous success in the B2C sector, and there is no reason why the same principles can't be applied to B2B markets. The survey tells us that price, product and service are no longer the only measures that establish companies over their competitors â&#x20AC;&#x201D; the embracing of technology is going to be key. Do you see this pushing some of the smaller, less tech-savvy or more traditional firms out of the market? M a y 2 0 15 | b e n c h m ar k m i d d l e e a s t

Property Industry Focus

Technology trends don’t go away, and we’ve seen similar things happen with the emergence of emails, Building Information Modelling (BIM), estimation software and other technologies related to the sector. Companies that are able to quickly adopt new technologies that streamline their processes and increase their efficiencies usually get a legup in terms of business growth. You’ve worked in the construction industry for some time now. Can you tell us about a project or situation you’ve been involved where problems that unfolded could have been avoided or solved by decent technology? In 2006, ProTenders’ founders returned to the Middle East after having spent over a decade in Canada, to take over their 40-year old family architecture business after their father had passed away. Benefiting from the boom years, the office had hundreds of millions worth of projects under design, but getting them tendered properly and quickly was a massive challenge. Thousands of pages of documents had to be printed and picked up individually by each bidder, requests for clarifications had to be answered individually by fax, addendas had to be distributed simultaneously, and bids, once received, often included fraudulent or erroneous pricing. Ultimately, this generated delays, extra costs and increased the risk for the projects. ProTenders was created to answer these very pain points and has since grown to cater to other segments of the industry.

We focus on pairing the right partners together and creating a system where the tendering and bidding can be done more efficiently

b e n c h m ar k m i d d l e e a s t | M a y 2 0 15

Your technology focuses on pairing the right construction partners together. What is the biggest thing that can go wrong for both sides when mismatched relationships break down? We focus on pairing the right partners together and creating a system where the tendering and bidding can be done more efficiently. Everything is logged and easily auditable so in case of a dispute arising from costings, the Bill of Quantities, scope of work etcetera, there is a trail that is quickly accessible. Importantly, our technology tries to reduce the risk of things going wrong prior to commencing work, by making the process more transparent for all. Part of that process is to enable better communication through the same platform so both sides can interact with any questions or comments. We’ve found that many contractors and clients point to communication difficulties as a major source of frustration during bidding. We believe that the better the communication, the less likelihood of things going wrong later on. Getting the best return on investment is still top priority for businesses. What do construction companies need to do to increase this? Our survey suggested that the majority of companies regularly look for new partners to find the latest products and best prices. However that search is hindered because there isn't full visibility of the market. To get the best ROI you need better information and tools to deal with that information. Companies shouldn't have to be spending more because that's the only option available. ProTenders can surface better potential partners by categorizing them in greater detail (for example we can pinpoint, say, piling contractors in Qatar that have experience with projects over $100M in the hotel sector). Plus we can yield a greater number of these partners. In addition, when you look at the bidding process itself, cost and time is incurred through the issuing of tenders and processing of bids. An average turnaround time can take 7-8 weeks. Each week is a cost in manhours and we can reduce this time down to just a couple of weeks. Recently Nakheel extended the bid submission deadline for the Palm Gateway project twice. The initial submission date was 11th January this year, it was then extended to 1st March and is now due on 3rd May. The reason they gave was to allow new contractors to participate in the bidding. This could indicate a number of things, but with M a y 2 0 15 | b e n c h m ar k m i d d l e e a s t

Industry Focus Property

regards to finding new business partners, ProTenders could have generated access to a greater number of potential partners for Nakheel in a shorter time frame, removing the need for an extension of the bid submission deadline. Current trends within the construction industry will see thousands of firms switching from paper-based systems to online tools, which means contractors and engineers who may have previously been technology-shy will be forced to adopt new systems in order to compete. How do you see this affecting the speed of the supply chain? In construction, speed is key in certain areas. Technology such as BIM allows much better planning, therefore reducing delays during a build. Delays in construction have a high dollar cost associated with them and slowdowns during construction because a design isn't correct or plans have to be redrawn can actually be avoided to a large extent when implementing BIM. In turn, technology such as ProTenders’ facilitates a faster and more accurate process to find the right partner and complete the bidding. Builders want to get on and build to the best of their ability. Anything that helps them do this quicker generates direct savings. If you halve the time it takes to find a suitable partner or supplier, and engage them and complete all the necessary due diligence, you can start business sooner rather than later. At scale, supply chains optimized across networks will lead to more successful projects. Clients will always favour contractors that can meet their time and budget deadlines.

businesses still use word of mouth or personal recommendations to find construction partners. Does your technology allow members to leave positive feedback or recommendations for particular businesses in this way and allow members to even report negative experiences? Enabling companies (and ultimately users) to rate each other positively and negatively based on their work quality is definitely something we've been working on for some time now. We do, however, spend a lot of time thinking about security and confidentiality, and as such want to ensure that the reviewing system we finally do release will be fair, precise and answer real questions. We are therefore currently testing and tweaking this module with a select few customers and should be ready to roll the feature out in the near future. Why do think the survey shows that trade shows seemed to have slipped in popularity as a way of firms seeking out partnerships? Do they even have a future at all given the rise in favour of technology to do this? Trade shows will always be an important as-

The survey focuses on the ‘pain issues’ for the industry. Do you worry that too much automation in the bidding process for example, with no ‘real’ human interaction — particularly for more unusual or sensitive construction projects — could potentially be more harmful than helpful? We do not believe that any system could or should replace human expertise, as there will always be cases where specialists need to review, analyze and make decisions based on their experience, requirements, market trends or other factors. However, systems such as ProTenders are built to ensure that the data these experts have at their disposal is both accurate and collected efficiently and securely, in order for them to make the right decisions. Your survey said that the majority of 44

b e n c h m ar k m i d d l e e a s t | M a y 2 0 15

M a y 2 0 15 | b e n c h m ar k m i d d l e e a s t

Property Industry Focus

show website, as we incorporate a lot more information to help customers make better decisions, not just find a phone number.

Our platform makes it easier for business development staff to deliver an impactful and memorable sale to clients, rather than simply relying on paper-based company profiles or brochures Karem Helal Co-Founder & CEO, ProTenders.com

pect for businesses to meet their customers face to face and show off their latest innovations. But for the rest of the year when they aren't present at trade shows, they need to keep up visibility through technology. Many clients tell us that a face-to-face meeting may happen at a trade show but the real business takes place afterwards. We don't compete with trade shows; we complement them. Recently we added an extra filter on our company database for Cityscape Abu Dhabi so companies can easily see all the exhibitors with full details and their projects. This is infinitely more usable than heavy paper-based show directories or the b e n c h m ar k m i d d l e e a s t | M a y 2 0 15

Do you think ProTenders.com will eventually remove the need for business development managers to be employed to physically go out and ‘sell’ their construction clients if they are already represented in detail online? Personal contact will always be required when sealing the deal, especially with higher value bids. As with trade shows, ProTenders complements, rather than competes with business development managers. It replaces websites and company profiles and makes them much more optimized as they can be easily searchable by anybody. For example, a big percentage of companies still rely on Flash websites, which cannot be seen on mobile devices and cannot be indexed by Google, making them detrimental to a company's business development efforts. Our platform makes it easier for business development staff to deliver an impactful and memorable sale to clients, rather than simply relying on paper-based company profiles or brochures. ProTenders will shortly be releasing a mobile version of the platform, which is ideal for those who want to use tablets during meetings or events to demonstrate their company’s capabilities. Security and privacy are clearly continuing concerns in the industry. Explain how your technology reduces risk for its members.

The founders' background is in working on highly secure telecoms systems, and they have applied the same care, procedures and technologies when building ProTenders. For example, every sub-system is redundant and continuously monitored, every bit of sensitive data is encrypted multiple times using industry standards, and every care is taken to ensure that any anomalies are automatically detected and flagged. Furthermore, every single action that is taken on the platform by any user is logged and can be audited at any point in time, ensuring compliance and reducing risk. More can be found on this on our security page at https:// www.protenders.com/security. What new issues have businesses highlighted this year that you didn’t see in last year’s survey? Looking at the research, businesses are excited about the new prospects and the renewed industry growth, but at the same time are wary of any sudden crisis that could jeopardize their growth, like the current oil situation that has caused governments to review their capital spending plans. As such, companies from every segment of the industry are actively looking to expand their reach, penetrate new markets and thus reduce their risk. However, they are also realizing that their current tools and procedures are not producing the results they expected and are looking for new ways to achieve their goals. www.protenders.com M a y 2 0 15 | b e n c h m ar k m i d d l e e a s t

Lifestyle Fashion

A brand inspired by a true story In 1987 and then in 1990, the backs of one of the most prestigious rugby teams in the world, the Racing Club de France, played both finals of the French Championship in Paris live on TV, with a pink bow tie around their neck. Further to this unforeseen and spontaneous communication campaign, the pink bow tie, very identifiable, proved to be an incredible brand logo. The Eden park name comes from the All blackâ&#x20AC;&#x2122;s rugby stadium in Auckland, New Zealand, where Franck Mesnel played the final of the first world cup in 1987.

A unique brand a quality brand Since its creation Eden park has been favouring the quality of its fabrics. That is how Italian fabrics, Japanese nylons and pima cottons naturally find their place in Eden Parkâ&#x20AC;&#x2122;s collections. The brand uses the double twisted and combed yarns on most of their products.

b e n c h m ar k m i d d l e e a s t | M a y 2 0 15

M a y 2 0 15 | b e n c h m ar k m i d d l e e a s t

Fashion Lifestyle

b e n c h m ar k m i d d l e e a s t | M a y 2 0 15

M Maayy 22001155 || bbeenncchhm maarr k m i d d l e e a s t

Lifestyle Fashion

SPRING-SUMMER 2015

rom East coast to West coast, from sunrise to sunset, surfers look out for waves and the right moment. In the Hamptons, on the Atlantic, the day draws to an end around a camp fire on the beach to keep warm: in a “Modern Preppy” ambiance which is sophisticated, our groups of surfers, very Ivy League, voice their anecdotes of their “surf sessions” on Montauk Beach. The “grand classics” are relaxed and modernized with dynamic and refined details. The rugby jerseys and polo’s, bright or pastel, are treated in plain or striped garment dyes. These classics are enhanced by prints and floral motifs. Cotton trousers, jackets, over-shirts and parkas are lightly 48

b e n c h m ar k m i d d l e e a s t | M a y 2 0 15

washed. Bi-material jackets in nylon and jersey, teddy jackets and bomber jackets are finished with quilting details. Cotton-linen trousers, washed linens and seersucker cottons are perfect for the sum-mer evenings. The motifs are sober and chic: the jacquards are mixed with a hibiscus print, cable knit jumper knotted on the side and soft leather loafers are laid down on the sand. Under the Californian sunshine, the waves of the Pacific continue to roll for our surfers who go to the beach in their pick-up trucks, a colorful surfboard under their arm, long windswept hair and a pair of sunglasses perched on the end of their nose. They pass the time playing ball whilst they wait for the wind to pick up.

The heat of Huntington Beach welcomes relaxed types, very comfortable and natural wearing the now-in trends. The graphics are off-beat, the use of prints such as the Hawaiian flower brighten the Bermuda shorts, inside of trousers, t-shirts, polo’s, shirts, wind brea-kers and swimming shorts. The forced wash effects modernize the items, by mixing paint splatters and pearl embroideries on certain items from the ladies collection. The canvas sandals and printed espadrilles add to an allure of travel, sport and fashion of men and women on the West coast. From the Atlantic to the Californian waves, the Eden Park Spring-Summer 2015 collection is dynamic and colorful. M a y 2 0 15 | b e n c h m ar k m i d d l e e a s t

Fashion Lifestyle

b e n c h m ar k m i d d l e e a s t | M a y 2 0 15

M Maayy 22001155 || bbeenncchhm maarr k m i d d l e e a s t

Lifestyle Watches

Class one

Dandy

Class One has been selected to become, in a limited edition, a work of art by Loris Cecchini. This exclusive collaboration between a contemporary artist whose work capture the forms and movements of water and the MaisonChaumet. A new interpretation of the Place Vendom›s first ever diver›s watch. To revisit the iconic watch›s visual codes. Loris Cecchini was inspired by his «Wallwave vibration» pieve representing the vibrations of water in movement, creating a monochromatic Class One with a unique.

SS Chrono XL-40 Auto

CASE: Stainless steel, diameter 40mm.

Polished on top and fine-brushed case

Fluted crown with a black lacquered ca Water resistant 50 meters.

MOVEMENT: Swiss mechanical self-wind

(37 jewels, power-reserve: 42h, freque

Functions: central hours & minutes, sma

+ date at 6 o’clock + chronograph: 30 m 60 seconds in the center. 50

b e n c h m ar k m i d d l e e a s t | M a y 2 0 15

a y 2 0 15 | b e n c h m ar k m i d d l e e a s t DIAL: 3 plates Mwith dark grey Côtes de G

on a light grey-lacquered base, creating and surrounding two rhodium-plated

Watches Lifestyle

Hortensia Master of naturalism, Chaumet has created nature in movement for over 200 years. Today, the Maison explores the myriad subtleties of the hydrangea flower, from High Jewellery to High Watchmaking. Indeed, in 2015, Chaumet offers a living interpretation of time, with a new creative complication. This exceptional technical feat gives life to fascinating bouquets of gold and precious stones. Four precious watches play their part in this performance with elengance and modernity. Hydrangea bouquets blossom at the heart of lace-like motherof-pearl. Petals and corollas are adorned with diamonds, miniature painting, guilloche and engraving. The dials become enchanting scenes where craft skills and decorative artsmanship are revealed in the smallest details to express the poetry of time.

b e n c h m ar k m i d d l e e a s t | M a y 2 0 15

M a y 2 0 15 | b e n c h m ar k m i d d l e e a s t

Lifestyle Motoring

b e n c h m ar k m i d d l e e a s t | M a y 2 0 15

M a y 2 0 15 | b e n c h m ar k m i d d l e e a s t

Motoring Lifestyle

The Rise and Rise of Toyota It's all business at Al Futtaim motors - Toyota, we chat with Alan Carpenter, General Manager Sales and Marketing and business is certainly booming How sustainable was the growth of commercial vehicles industry in the region to date? Over the past few years, the economy has picked up strongly and this sustained growth has driven larger demand for fleet vehicles. Specifically in the case of Toyota LCVs our vehicles enjoy best-in-market Total Cost of Ownership (TCO), in addition to world renowned Quality, Durability and Reliability which means we are able to enjoy market leadership position across fleet operations, whether in government owned or private organizations. Our Hilux pick-up has also historically topped the commercial pick up segment thanks to its legendary performance and durability in the country’s harsh climate and conditions. Within Al-Futtaim Motors-Toyota, the LCV segment has seen sustainable growth. Year to date, this segment has seen 15% growth compared to the same period last year. In Dubai particularly, recent demands for greener transportation has seen AlFuttaim Motors partner with Dubai Taxi Corporation and Cars Taxi in providing Hybrid Toyota Camry vehicles as part of their respective fleets. Recently, we handed over a small test fleet of Prius Plug-in hybrid to Dubai Municipality to test run them for a period of time, and assess accordingly their efficiency.

b e n c h m ar k m i d d l e e a s t | M a y 2 0 15

Finally, our enhanced after sales offerings in terms of manpower, training and locations — for which Al-Futtaim Motors was recognized by Toyota Motor Corporation with a Gold “Customer Service Excellence Award 2014” for the fifth consecutive year — helps companies reduce their vehicles’ off road time, meaning they are on road ‘making money’ for longer. This applies to any business that runs a fleet, whether it’s taxis on the roads, delivery services companies, etc… How would you describe Al-Futtaim’s continued growth in the industry? Every year, we set our sights even higher, and benchmark ourselves against the world’s best, to better serve our customers. We invest heavily in our manpower’s skills and knowledge through extensive training programs, working closely with Toyota Motor Corporation on making sure our technicians are well versed with each and every aspect of the vehicles in our showrooms. We are also on an aggressive expansion plan that will see our presence across the UAE grow through a larger network of facilities to cater to the growing needs of our customers. Specifically, we are increasing our presence in Abu Dhabi, including the western region with a new MadinatZayed facility that will open in the very near future and another state of the art facility in the Musaffah area.

M a y 2 0 15 | b e n c h m ar k m i d d l e e a s t

Lifestyle Motoring

The UAE automotive market is very competitive, however we welcome this competition as it keeps us vigilant, always looking to offer even better services, whether sales or aftersales, to our customers. We believe the industry still has a long way to go, but with initiatives such as the modified Coaster bus being piloted by the RTA and Etihad airways, we set our sights on always creating solutions that help increase safety and reduce business costs to all of our customers.

to meet the specific needs of each customer. Within our extensive line-up of LCVs which are excellent for commercial usage,models such as Hiace, (16% sales growth vs. last year); Previa (26% growth) and Innova(10% growth) were key elements of our success. Last year also saw the introduction of a new player in our LCV line-up, the 7-seat Avanza which enjoyed unprecedented demand due to its versatility, functionality and competitive price point.

In terms of turnover, what are the fastest selling segments? For Al-Futtaim Motors Toyota, the national transportation services has always been a critical part of our corporate sales, combined with car rental agencies and other fleet operators. This is mainly due to the low Total Cost of Ownership and Quality, Durability and Reliability of our vehicles, in addition to the excellent aftersales relationship we have with our customers that’s tailored

How does choosing the right specifications of various vehicles helps in after sales? We like to think of mobility as going beyond the purchase point. Our philosophy extends well beyond the showroom, where we see mobility as an all-encompassing experience. This goes from having the right product for the market, in the right specifications that meet customer needs, offering it at the right time for the market to absorb,

b e n c h m ar k m i d d l e e a s t | M a y 2 0 15

and backing it up with best in class aftersales services and support. How would you describe the role of technology in improving the industry? Technology is improving the way the industry is developing. This can range from in-car user technology, to the way vehicles are developed and more. A simple example of technology improving the way drivers interact with their vehicle is Toyota’s T-Connect service, which offers a high-function navigation system to help people better navigate their way around the busy roads of the UAE. T-Connect also offers leading edge local operator services and other information services to support the driving experience. Another example of how technology can help is the Hybrid Smart Taxi technology, which was exhibited at last year’s “Middle East and North Africa Transport Congress and Exhibition”. The Hybrid Camry Smart Taxis features GPS navigaM a y 2 0 15 | b e n c h m ar k m i d d l e e a s t

Motoring Lifestyle

b e n c h m ar k m i d d l e e a s t | M a y 2 0 15

M a y 2 0 15 | b e n c h m ar k m i d d l e e a s t

Lifestyle Motoring

b e n c h m ar k m i d d l e e a s t | M a y 2 0 15

M a y 2 0 15 | b e n c h m ar k m i d d l e e a s t

Motoring Lifestyle

The UAE has always been a magnet for large businesses and SMEâ&#x20AC;&#x2122;s due to the facilities and smart solutions offered at the startup stage, while a developed infrastructure makes conducting and maintaining business a much easier proposition Alan Carpenter General Manager Sales and Marketing Al Futtaim motors - Toyota

tion installed with the latest Dubai maps and a Taxi dispatch system that allows the driver to receive orders from the call centre, directly on the screen with the exact location of the customer. The vehicles are also fitted with an integrated meter, and a Wi-fi router that provides high speed internet to the passengers, in addition to a multi-function car reader that reads NOL or other payment cards, and can also swipe traditional credit cards. With this huge economic boom in the UAE, which companies and services are going to benefit the most of this? The UAE has always been a magnet for large businesses and SMEâ&#x20AC;&#x2122;s due to the facilities and smart solutions offered at the startup stage, while a developed infrastructure makes conducting and maintaining business a much easier proposition. In the build up to Expo 2020 and beyond, and given the clear environmental agenda of the government here, we believe the demand for green solutions across all industries will increase. As a matter of fact, we have already seen several announcements for new infrastructure developments that will support greener transport, which will also translate into the increased need for construction, logistics and transportation solutions. Anything else you feel is relevant to an industry overview? Hybrid technology is the way forward for many fleet operators. In 2013, Al-Futtaim Motors introduced Hybrid Camry to the UAE fleet market and adapted the vehicles to the needs of Dubai Taxi Corporation. With the introduction of Hybrid Toyota vehicles to the market, the demand for sustainable mobility is expected to grow in the coming few years due to the several financial and environmental benefits that these cars offer.

b e n c h m ar k m i d d l e e a s t | M a y 2 0 15

M a y 2 0 15 | b e n c h m ar k m i d d l e e a s t

Lifestyle Tourism

Magical Maldives

benchmark m miiddddllee eeaasstt || AMpar y i l 22001155

A p r i l 2 0 15 | b e n c h m ar k m i d d l e e a s t

Tourism Lifestyle

SCOTT ARMSTRONG

catch my breath for an instant, which rattles loudly in my snorkel, as the creature glides into view, one of the world's oldest and most graceful predators, and yet coming face to face with my first shark is a surprisingly serene experience . In the clear turquoise waters of the Maldives, I freeze, not from fear but from awe, treading water gently as the Black Tip reef shark swims past me. I keep movement at a minimum, not wishing to break the spell, for spellbound I am. Another, then another appears, until eight are around me, seemingly unconcerned and uninterested in my presence, unaware of the mix of emotions coursing through me, excitement, nervousness, but curiously calm. This is a show unlike any I've witnessed and as I float there and I know 'the

b e n c h m ar k m i d d l e e a s t | A p r i l 2 0 15

day I swam with sharks' will linger long in the memory. Welcome to the astonishing 'house reef' of the Kurumba resort in the Maldives, just 15 minutes maximum via boat from the capital of Male, a short four-hour flight from the UAE. One of the most established resorts in the stunning archipelago, it opened in 1972, its beautiful waters of the Indian Ocean have been attracting divers and snorkelers for decades, of course the five-star accommodation, the top-notch dining, and steady 30c year-round sunshine and the powder white sand don't hurt either. Shallows are protected by a sea wall, making it ideal for young children, drop away after you swim out through the channels, maybe just 20 or 30 metres from the beach front. Mparyi l 22001155 || bbeenncchhm A maarr k m i d d l e e a s t

Lifestyle Tourism

Here the coral reef stretches ahead, home to a universe of colour and size, a bewildering kaleidoscope of sea life that words seem to shallow a medium to use to describe. In the waters of the Maldives there are around 1,100 species of fish, five species of turtles and 21 species of whales and dolphins, whether you'll see them all is debatable but around Kurumba their number is overwhelming. Where the reef falls away is where your heart stops and you float like an astronaut in orbit above an alien world, as the depths plummet down. Gently stroking your flippers to stay over the crest you watch spellbound as a rare Hawksbill turtle, longer than a metre, swims up the slope and towards you, ancient and graceful. Time slips away as you float there, the crackling of fish feeding on the coral accompanying the breath in your snorkel as

b e n c h m ar k m i d d l e e a s t | M a y 2 0 15

the soundtrack to this moment of tranquility and wonder. Around you dozens of bright blue fish gather, and all of a sudden it seems this underwater sky is full of stars everywhere you look, and you tread water trying to drink in the experience. It could take a lifetime to describe all the sealife there by Kurumba, but suffice to say even those who are not up for, or not qualified, diving can see a hidden universe with a pair of flippers and a facemask and snorkel. On land Kurumba delivers as well, in terms of accommodation, dining and entertainment. Unlike some, Kurumba doesn't set out to be the total isolation of a Robinson Crusoe experience, rather it wants you to come enjoy yourself. I am my family were lucky enough to stay in one of the spacious Presidential Pool villas, two floors, its own pool, a private garden which leads out onto the beach. It was ideal for a family with parents upstairs and

M a y 2 0 15 | b e n c h m ar k m i d d l e e a s t

Tourism Lifestyle

b e n c h m ar k m i d d l e e a s t | M a y 2 0 15

M a y 2 0 15 | b e n c h m ar k m i d d l e e a s t

Lifestyle Tourism

Kurumba goes the extra mile to make ensure guests remember their stay on land, on the sea and under the ocean

b e n c h m ar k m i d d l e e a s t | M a y 2 0 15

M a y 2 0 15 | b e n c h m ar k m i d d l e e a s t

Tourism Lifestyle

teenage son down, so at least some privacy for all concerned. The master bedroom comes with television, sofa, a massive bed and an executivesized bathroom featuring a bath, and showers both inside and outside in area with a monsoon shower, the most refreshing way to start the day. Another advantage for Presidential Pool villa dwellers are the complimentary happy hour drinks at the main bar Kandu, home to nightly live music, and the choice of breakfast at either the main Vihamana restaurant â&#x20AC;&#x201D; perfectly fine â&#x20AC;&#x201D; or the excellent seafront Thila (I'll come back to this). However, all of the accommodation on Kurumba, no matter what your budget impresses. All feature huge beds, luxury bathrooms, and whether you are sea view or garden view you are a stone's throw from the shore. Kurumba has one of the biggest choices in the Maldives when it comes to dining, with b e n c h m ar k m i d d l e e a s t | M a y 2 0 15

eight restaurants spanning seafood, Japanese, Italian and French , Arabic, Indian, Chinese and international. Of these Thila, for me, was the star, its superb seafront location matched by the excellence of the food and the service. This is also where breakfast can be a long lingering affair with free-flowing beverages. That choice in food is matched by choice of entertainment, with tennis courts, water sports or every kind, table tennis, pool, soccer and beach volley ball tournament, and a kids club for youngsters to give mums and dads a well-earned rest. And nowhere could be better for that quiet hour or two than the Veli spa, where trained massage therapists wait to soothe away any aches from jet-skiing or swimming (such a tough life). Having visited many spas, I can honestly say this is one of the best. Yes, like every other facility it's tranquil and comforting, but here the therapists really know what they are doing, the hot stones used in the 'Signature' treatment work away even the tightest of hunched-over-desk shoulder muscle knots. What impresses most about Kurumba is the effort the resort, and the staff down from the affable general manager Jason, put in. They could rest on their laurels knowing they have a beautiful beach and good marine life and snorkeling, but they don't. Kurumba goes the extra mile to make ensure guests remember their stay on land, on the sea and under the ocean. M a y 2 0 15 | b e n c h m ar k m i d d l e e a s t

Lifestyle Eating Out

b e n c h m ar k m i d d l e e a s t | M a y 2 0 15

M a y 2 0 15 | b e n c h m ar k m i d d l e e a s t

Eating Out Lifestyle

SushiArt Teams up with Craig and Karl to Create the LA Box

ushiArt, the sister company of the globally renowned SushiShop, is excited to announce the launch of its limited edition offering, theLA Box.With only 500 boxes available throughout the UAE from Monday 11 May, the vibrant LA Boxhas fast become the newest ‘it’ item for the region’sfashionable foodies, whetherpower lunching in style or enjoying at home with friends. Following in the footsteps of fashion and music icons Kate Moss, Kenzo Takada and Lenny Kravitz, Craig and Karl carry on SushiArt’stradition of creating special, one-of-a-kind boxes and menus for sushi aficionados across the world. The LA Box contains 38 pieces of both signature classics and innovative new creations that combine, the Californian culinary trend of mixing flavours into sushi and rolls.

Each roll has been refined and perfected by SushiArt’s team of chefs in homage to the ‘Cali’ style and technique of sushi making. Containing three new rolls, theRoyce Roll, Crab Hand Roll, and Sea Bream Saikyo Miso Sushi, as well as old time favourites - the Dynamite Roll, Cheese Cucumber Sprin Roll, Salmon Sushi and Spicy Avocado Tempura, the LA Box is sure to tantalize tastes buds to another level of deliciousness. Having exhibited and worked on projects across the globe, most notably at the Louvre, and with LVMH, Apple, Vogue and The New York Times; Craig and Karl have fast become the ‘go to’ graphic designers, for out there, bold and colourful collaborations. In the UAE, the LA Boxis available to order from all of SushiArt’s outlets including Lafayette Gourmet, the DIFC, The Beach, JBR, and The Galleria in Abu Dhabi. b e n c h m ar k m i d d l e e a s t | M a y 2 0 15

M a y 2 0 15 | b e n c h m ar k m i d d l e e a s t

Lifestyle Health

ou had cereal for breakfast, followed by a banana at work. Lunch was a prepackaged salad and maybe a sandwich; and come 5pm you had a bar of chocolate. Once you got home you were too tired to cook, so you had another fruit and cereal again for dinner, and then made a cheese sandwich before bed. Welcome to the twenty-first century. Once upon a time, a snack was something to fill in a grumbling stomach in between meals. Lately though, snacks have gone on to replace meals. Hectic lifestyles have driven people away from sitting down for a big meal three times a day and, instead, are more likely to fit in five or six mini 'meals'. There are coffee bars and sandwich shops on every corner, and companies are coming up with endless new ways to package foods we can eat on the run. While you may think that this phenomenon is harming your body, this new trend might actually be better for your health. Large meals often put a heavy load on the digestive system, even causing some bloating and discomfort. By consuming smaller and more regular meals, you are helping your blood sugar to stabilize throughout the day along with your energy and mood. This new eating pattern may also help you get more nutrients than if you only consume two to three large meals a day. When you allow yourself to have six snacks per day, you will be forced to 66

b e n c h m ar k m i d d l e e a s t | M a y 2 0 15

add variety to your diet, and therefore get all the nutrients you need from different food sources. It is important that you understand that these snacks should also be low in calorie and fat. You need lots of fruit and vegetables and, to maximize effects, you should also ensure that whenever you eat carbohydrates you combine them with a little protein because this stabilizes blood sugar further. If you are new to this, or you just want to give this trend a chance, do it slowly to avoid shocking your metabolism. You may have had certain eating habits for so long that you do not realize they are unhealthy. Or, your habits have become part of your daily life, so you don't think much about them. So the first thing you can do is keep track and control what you eat, how much, and what times of day you are eating. Start by focusing on one or two traditions that occur most often during your week. Think about what you can do to avoid those triggers so that you can replace your old, bad habits with new, healthy ones. If you normally have toast, cereal and fruit for breakfast, have the cereal first, the toast and fruit an hour later. At lunchtime, eat half your sandwich with a piece of fruit, then have the other half an hour later with some soup or a small salad; eat a smaller dinner than normal then have more fruit, a yoghurt or a small sandwich an hour later. Dana Z. Taleb, Registered Dietitian M a y 2 0 15 | b e n c h m ar k m i d d l e e a s t