Gulf Business-November 2024

BUILDING BOLD

We were meant to fly.

Gulf Business

CONTENTS / NOVEMBER 2024

The brief

An insight into the news and trends shaping the region with perceptive commentary and analysis

24

Elevating Dubai’s real estate game

Atif Rahman, the founder of ORO24 Developments, shares his approach to resilient growth, the importance of strategic planning, and his perspective on the future of the emirate’s real estate market

Strong ties

Italy’s Ambassador to the UAE, Lorenzo Fanara shares how Italian expertise in art, fashion, and green innovation is fuelling a robust cultural and economic exchange between Italy and the UAE

Mark Mathew

MISSION ON EARTH DESER T

How Tag Heuer’s legacy is shaping its future: The brand’s heritage director shares its rich history p.46

It’s a slam dunk: Insights into the ambitious strategy driving NBA’s expansion into the region p.50

The ultimate retreat: Why Switzerland’s The Kusnacht Practice is more than just a wellness centre p.54

“When we increase women’s economic participation, it not only boosts the global economy, but also strengthens families and communities. Through economic empowerment we are building a ladder out of poverty and extending hope and dignity as far as possible.”

Ajay Banga, president of the World Bank Group

Editor-in-chief Obaid Humaid Al Tayer

Managing partner and group editor Ian Fairservice

Chief commercial officer Anthony Milne anthony@motivate.ae

Publisher Manish Chopra manish.chopra@motivate.ae

Group editor Gareth van Zyl Gareth.Vanzyl@motivate.ae

Editor Neesha Salian neesha.salian@motivate.ae

Senior feature writer Kudakwashe Muzoriwa Kudakwashe.Muzoriwa@motivate.ae

Senior art director Freddie N. Colinares freddie@motivate.ae

Senior art director Olga Petroff olga.petroff@motivate.ae

59

The SME Story

Insights on how the region’s dynamic SME ecosystem is evolving

General manager – production S Sunil Kumar

Production manager Binu Purandaran

Production supervisor Venita Pinto

Digital sales director Mario Saaiby mario.saaiby@motivate.ae

Group marketing manager Joelle AlBeaino joelle.albeaino@motivate.ae

Cover: Freddie N Colinares

Follow us on social media: Linkedin: Gulf Business Facebook: GulfBusiness Twitter: @GulfBusiness Instagram: @GulfBusiness

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Gareth van Zyl, group editor

INVEST WITH EFG HERMES ONE AND SUPERCHARGE YOUR FINANCIAL JOURNEY. IT’S TIME TO MAKE MONEY MOVES!

COP29: Threat to oil-rich economies or climate conundrum?

The upcoming summit raises a critical question: will the global push for decarbonisation undermine the economic stability of oil-rich nations, or can they adapt and seize new opportunities in the evolving energy landscape?

The global climate negotiations under the United Nations’ framework have increasingly focused on reducing greenhouse gas emissions and transitioning to renewable energy. COP29, set to take place in Baku, Azerbaijan, during November 11-22, will focus on several key areas, with a heavy emphasis on climate finance and energy transitions.

Dubbed the “finance COP,” this year’s summit aims to address the growing demand for climate financing to meet the pressing global needs. There are ongoing challenges in determining how to set and achieve new financial goals that align with the Paris Agreement, as the international community continues to debate specifics like contributor responsibilities and the scope of financing

These initiatives are crucial for combating climate change, but are often seen as conflicting with the interests of oil-and-gas-rich nations, particularly in the Middle East and Gulf Cooperation Council (GCC) states, whose economies are heavily reliant on hydrocarbons. Does the COP29 agenda pose a direct threat to these nations’ economic wellbeing?

Oil and gas-rich nations, particularly the GCC countries, rely heavily on fossil fuels for their economic stability. The hydrocarbons sector contributes significantly to their GDP, government revenues, and employment. According to the International Monetary Fund (IMF), oil revenue constitutes 73 per cent of total government income in Saudi Arabia, while in Kuwait and Qatar, it’s around 90 per cent.

The global push toward renewable energy and net-zero targets, as emphasised in recent COP negotiations, presents a direct challenge to this economic structure. The fossil fuel industry faces increasing pressure as the world looks to cut carbon emissions, raise carbon prices, and adopt renewable energy at scale. For instance, Saudi Arabia’s Vision 2030 acknowledges this by pushing for economic diversification, but the reliance on oil and gas remains a key concern.

MAIN FOCUS

The key objective of COP29, like previous climate summits, is to accelerate efforts to limit global warming to 1.5°C above pre-industrial levels, which requires drastic cuts in carbon emissions. Given that the energy sector is responsible for approximately 73 per cent of global CO2 emissions, the transition away from oil, coal, and gas is a core element of the plan. Western economies and climate advocates argue that reaching net-zero by 2050 is essential to avoid catastrophic climate events. The implication here is clear: fossil fuel consumption must decrease significantly. This directly targets the economic interests of oil and gas-producing countries.

One specific example of policy implementation that threatens oil and gas exporters is the European Union’s Carbon Border Adjustment Mechanism (CBAM). This policy, set to take effect in 2026, will impose a tariff on imports from countries with weaker climate policies. For oil-exporting countries in the GCC, this means that energy-intensive goods like petrochemicals, aluminium, and cement, which form a substantial part of their export portfolios, may face higher costs when entering European markets.

Critics from oil-rich countries argue that the West, particularly Europe and the US, uses climate policies to maintain economic dominance by creating industries where they have a competitive advantage. The development of advanced renewable energy technologies, such as solar, wind, and electric vehicles, has largely been spearheaded by Western and Chinese firms. By promoting a global transition to these technologies, Western nations are effectively pushing

Dr M Muneer is a Fortune-500 advisor, startup investor and co-founder of the nonprofit Medici Institute for Innovation

oil-producing nations to abandon their key revenue source while securing their own economic future in new energy industries.

Consider the market for electric vehicles (EVs) –It is set to grow from $163bn in 2020 to $823bn by 2030, according to Fortune Business Insights. Much of this growth is occurring in Western markets, where countries like Germany and the US are positioning themselves as leaders. At the same time, this threatens to reduce the demand for gasoline, which forms a significant part of oil demand.

Developing nations and resource-rich countries argue that the global climate agenda, including COP29, is disproportionately affecting them while not adequately addressing issues of climate justice and economic disparity. Countries in the Global South and the GCC point out that the industrialised West built its wealth on fossil fuels, and now, after reaching a high level of development, these nations are pushing for a global transition that threatens the economic futures of developing countries.

During COP15 in 2009, developed nations pledged to mobilise $100bn per year by 2020 to help developing countries mitigate and adapt to climate change. However, the delivery of these funds has been problematic. According to the Organisation for Economic Co-operation and Development (OECD), in 2020, only $83.3bn was delivered, and much of this came in the form of loans rather than grants, raising concerns about creating debt burdens for the Global South. Oil-producing nations argue that without significant financial support, expecting them to transition their economies away from hydrocarbons is both unfair and unrealistic. The technology transfer required for these transitions resides in the hands of Western or Chinese corporations, further entrenching global inequalities.

ALIGNED WITH THE GLOBAL AGENDA

Despite these concerns, oil-rich countries, particularly in the GCC, are not entirely against the global climate agenda. Many are recognising the long-term need to diversify their economies and are investing heavily in renewable energy projects. Saudi Arabia aims to generate 50 per cent of its energy from renewable sources by 2030. The UAE has also committed to achieving net-zero by 2050 and is heavily investing in solar energy. One prime example of a successful renewable energy initiative is Masdar City in Abu Dhabi, a planned city powered entirely by renewable energy. The project is part of the UAE’s broader efforts to reduce its carbon footprint and become a leader in clean energy technology. Masdar City’s development represents the GCC’s recognition that it must evolve beyond oil dependency.

COP29’S FOCUS ON DECARBONISATION AND THE GLOBAL ENERGY TRANSITION CERTAINLY POSES CHALLENGES FOR OIL AND GAS-RICH COUNTRIES, PARTICULARLY IN THE GCC. THE PRESSURE TO MOVE AWAY FROM HYDROCARBONS THREATENS THEIR ECONOMIC

MODELS, AND POLICIES LIKE

CBAM FURTHER INTENSIFY THESE CONCERNS.

One potential avenue for oil-producing nations to benefit from the global climate agenda is through carbon markets. Under Article 6 of the Paris Agreement, countries can trade carbon credits, allowing nations that emit less than their quotas to sell their surplus to higher-emitting countries. This could provide a financial incentive for oil-exporting countries to invest in carbon capture technologies or preserve natural carbon sinks, such as mangroves.

Qatar, for instance, has explored carbon capture and storage (CCS) technologies as a way to reduce its emissions while maintaining its role as a global energy supplier. These kinds of initiatives align with COP29’s objectives while allowing oil-rich countries to continue extracting hydrocarbons responsibly –not because the West is worried about retaliation by oil-rich countries stopping their oil exports.

COP29’s focus on decarbonisation and the global energy transition certainly poses challenges for oil and gas-rich countries, particularly in the GCC. The pressure to move away from hydrocarbons threatens their economic models, and policies like CBAM further intensify these concerns. However, framing the agenda solely as being against the best interests of these nations overlooks the opportunities embedded in the transition.

MITIGATING RISKS

With the right investments in renewable energy, carbon capture, and climate finance mechanisms, oil-rich countries can manage this shift strategically. The key lies in recognising the inevitability of the energy transition while leveraging their current wealth to invest in innovation.

Here are a few ways GCC nations can mitigate the threats posed by the COP29 agenda:

GREEN HYDROGEN IS EMERGING AS A KEY ALTERNATIVE ENERGY SOURCE THAT CAN BE PRODUCED USING RENEWABLE ENERGY

Diversify economies: Embrace what Saudi and the UAE have done as outlined above, This will reduce the economic risks associated with the inevitable decline in oil demand.

Invest in renewable energy:  By positioning themselves as leaders in solar, wind, and other renewable technologies, these nations can create new revenue streams and reduce their carbon footprint, aligning with global climate goals while safeguarding economic growth.

Leverage CCS technologies: Follow Qatar’s footsteps and leverage CCS technologies to enhance the ability to export “clean” fossil fuels, potentially making them more competitive in a carbon-conscious market.

Explore hydrogen production: Green hydrogen is emerging as a key alternative energy source that can be produced using renewable energy. GCC nations with abundant sunlight and capital could invest in green hydrogen production and become global leaders in this nascent industry. The UAE has already announced plans to build one of the world’s largest green hydrogen plants.

Access climate finance: Position themselves to access international climate finance to support the transitions. By investing in green technologies, they could attract financing for projects aimed at reducing emissions and building sustainable infrastructure.

Enhance global collaboration: Push for a more balanced global energy transition that recognises their need for gradual diversification. GCC nations have already started adopting a more constructive stance by advocating for climate justice, emphasising that the transition must account for historical emissions from developed countries.

Invest in research and innovation: Focus on developing breakthrough technologies for clean energy, energy efficiency, and carbon reduction. The development of advanced energy technologies can position them as leaders in the global energy market. King Abdullah University of Science and Technology (KAUST) is pioneering this work and others should emulate.

This more strategic, forward-thinking approach ensures that while the global energy landscape shifts, the GCC remains a powerful player, shaping both the energy future and its economic destiny.

Natural gas demand rises...

...but supply challenges still persist, reveals latest IEA report

Global gas demand is forecast to rise by more than 2.5 per cent in 2024, with similar growth expected in 2025, according to I nternational Energy Agency ’s (IEA) latest report.

In particular, this demand for natural gas is rebounding in 2024 following the chaos of the previous two years triggered by the global energy crisis.

According to the latest IEA Global Gas Security Review, demand is forecast to rise by over 2.5 per cent in 2024, with similar growth expected in 2025.

However, the report highlights that new gas supplies are limited, and geopolitical uncertainties could keep global gas markets in a precarious state.

RISING DEMAND FOR NATURAL GAS

Global demand for natural gas is growing faster than it has in recent years. The IEA attributes this surge to two primary factors: fast-growing demand in Asian markets and a rebound in Europe’s industrial gas demand.

However, even with the rebound, Europe’s demand remains significantly below pre-crisis levels.

As global economies recover from the impacts of the energy crisis, gas is seen as a crucial component for powering industries and homes alike.

In Asia, countries such as China and India are leading the charge in increasing their natural gas consumption, driven by economic growth and a shift towards cleaner energy alternatives. Meanwhile, Europe is experiencing a slower recovery in gas demand for industrial purposes but is still a major player in the global gas market.

Keisuke Sadamori, IEA’s director of Energy Markets and Security, explained, “The growth we’re seeing in global gas demand this year and next reflects the gradual recovery from a global energy crisis that hit markets hard.” However, he also cautioned that the balance between supply and demand remains fragile, leaving the global market vulnerable to volatility.

LIMITED SUPPLY GROWTH AS LNG TAKES CENTRE STAGE

Despite rising demand, liquefied natural gas(LNG) supply growth is not keeping pace. The IEA points to slow growth in LNG production as a key factor contributing to potential supply tightness soon. The LNG market has become crucial in balancing global gas supply and demand, particularly as traditional piped gas routes face disruptions due to geopolitical tensions and infrastructural challenges.

While new LNG projects are expected to come online in 2025 — mainly in North America, with additional volumes from Africa and Asia — the supply growth for 2024 remains limited.

Some key constraints, such as bottlenecks across the Panama Canal and the Red Sea, continue to impact global LNG shipping. These challenges haven’t caused a significant reduction in LNG supply so far, but they underscore the vulnerabilities in an increasingly interconnected global gas market.

SINCE THE ESTABLISHMENT OF ITS ‘ TASK FORCE ON GAS AND CLEAN FUELS MARKET MONITORING’ BACK IN 2022, THE IEA HAS BEEN WORKING WITH GOVERNMENTS AROUND THE WORLD TO MONITOR MARKET DEVELOPMENTS AND SUPPORT THE SECURITY OF SUPPLY

In Asia, countries such as China and India are leading the charge in increasing their natural gas consumption, driven by economic growth and a shift towards cleaner energy alternatives

THE FOCUS ON THE TRANSPORT SECTOR HIGHLIGHTS THE NEED FOR SUSTAINABLE FUELS TO HELP REDUCE GLOBAL CARBON EMISSIONS. AS PART OF ITS LOW-EMISSIONS GASES WORK PROGRAMME, THE IEA IS INVESTIGATING HOW CLEANER GASES, INCLUDING HYDROGEN AND BIOGAS, CAN BE INCORPORATED INTO EXISTING GAS INFRASTRUCTURE.

One of the biggest uncertainties in the global gas market heading into 2025 is the fate of Russian gas transiting via Ukraine.

Current contracts are set to expire at the end of 2024, raising concerns about the potential end of piped gas deliveries to Europe through Ukraine. If Russian gas flows are disrupted, Europe will have to rely more heavily on LNG imports, leading to a tighter global gas balance.

This shift would further strain an already fragile market, especially during the 2024-25 Northern Hemisphere winter, when demand typically peaks.

As European countries look to mitigate these risks, the IEA recommends strengthening flexibility mechanisms across gas and LNG value chains to enhance market liquidity and boost the security of supply.

LOW-EMISSION GASES AND SYSTEM INTEGRATION

In this year’s report, the IEA also explores new possibilities for integrating low-emissions gases into the global energy mix.

The focus on the transport sector highlights the need for sustainable fuels to help reduce global carbon emissions. As part of its Low-Emissions Gases Work Programme, the IEA is investigating how cleaner gases, including hydrogen and biogas, can be incorporated into existing gas infrastructure.

These low-emissions gases could play a critical role in decarbonizing sectors that are hard to electrify, such as heavy transportation and industry. However, the transition to low-emissions gases is not without its challenges.

Governments and industry players will need to work together to improve infrastructure,

regulatory frameworks, and market integration to enable this shift.

COLLABORATIVE APPROACH NEEDED FOR A SECURE GAS FUTURE

The IEA’s report emphasises that producers and consumers must work in close collaboration to ensure gas market security. As gas prices remain volatile and supply risks loom, global stakeholders must focus on improving cooperation and resilience in the market.

Since the establishment of its ‘Task Force on Gas and Clean Fuels Market Monitoring’ in 2022, the IEA has been working with governments around the world to monitor market developments and support the security of supply. The Task Force also played an active role in the  13th LNG Producer-Consumer Conference, which was co-organised with Japan’s  Ministry of Economy, Trade, and Industry earlier this year.

The IEA urges all parties involved to consider flexible frameworks for gas reserves, better

integration of gas storage systems, and the optimisation of LNG supply routes to ensure a more resilient global gas market.

A FRAGILE YET RECOVERING MARKET

While global gas demand is poised to increase significantly in the coming years, the market remains sensitive to unexpected developments, both on the supply and demand sides.

The growth in LNG production expected in 2025 may alleviate some of the strain on global gas supplies, but geopolitical tensions and transit risks could continue to drive price volatility.

As the world moves towards cleaner energy solutions, the role of natural gas as a transition fuel remains critical. However, navigating this delicate balance between the security of supply and advancing the transition to low-carbon energy sources will require continued international collaboration and innovative solutions.

From legacy to liquidity

How family offices are navigating today’s high-stakes investment landscape

Navigating ever-changing markets is nothing new for family offices. From the postpandemic market recovery and a recession that never materialised, to ongoing geopolitical headwinds and rapidly accelerating artificial intelligence enhancements, charting the path ahead for family offices is never smooth sailing.

To truly understand the mindset of global players today, we asked 190 family offices from across the world with an average net worth of $1.4bn to share insights into how J.P Morgan’s family office clients manage investments, governance, succession planning and family office operations.

The results were fascinating.

ALTERNATIVE INVESTMENTS ARE IN FAVOUR

Family offices are diversifying their investment portfolios, with nearly 80 per cent working with external

investment advisors. This represents a multi-year shift that we are seeing among many family offices. They are more willing to take illiquidity risk in order to achieve greater potential long-term returns.

Notably, the average portfolio currently has a 45 per cent allocation to alternative assets, targeting an 11 per cent return; private equity is the most commonly held asset class at 86 per cent; and infrastructure is the least commonly held at 9 per cent.

In addition to the focus on alternatives, family offices are consistently developing core, liquid portfolios. On average, these portfolios allocate 26 per cent to public equity and 20 per cent to fixed income and cash.

FAMILY OFFICES ARE GRAPPLING WITH CYBERSECURITY

Cyberattacks are on the rise — and family offices can be an easy target. Nearly a quarter of family offices surveyed reported exposure to a cybersecurity breach

WHILE

FAMILY OFFICES MAY BE INITIALLY ESTABLISHED TO MEET SPECIFIC AND

OFTEN

MORE IMMEDIATE FINANCIAL NEEDS, MANY FAMILIES LOOK AT THEM WITH LONGER-TERM VIEWS. THIS IS EVIDENCED BY NEARLY 70 PER CENT OF GLOBAL RESPONDENTS WHO IDENTIFY SUCCESSION PLANNING AND PREPARING THE RISING GENERATION AS GOALS.

or financial fraud, yet only one in five noted they have cybersecurity measures in place. With that in mind, 40 per cent of family offices reported that cybersecurity is a top gap for improvement.

THE COST OF OPERATING A FAMILY OFFICE IS RISING

Family offices are focused on managing costs while recruiting and retaining top talent. Like any business, these two objectives may find themselves at odds while staffing roles and services. Outsourcing certain functions through a hybrid approach is becoming more common among family offices of all sizes.

Large, established family offices with $1bn or more in assets under supervision have average annual operating costs of $6.1m, making management and strategic outsourcing a priority. Nearly 40 per cent of small and midsize family offices, with assets under supervision ranging from $50m to $999m, outsource investment management to some extent.

FAMILY OFFICES NEED TO PREPARE THE RISING GENERATION

A primary concern identified by family offices regarding the upcoming generation is their preparedness to inherit wealth. Interestingly, nearly 30 per cent of respondents lack a structured approach to prepare the younger generation for this responsibility. That is despite the fact that a majority of the surveyed family offices note succession planning and preparing for the next generation as primary objectives while also identifying them as areas where they need help. Interestingly, more than one in five respondents globally say they shield the rising generation from knowing the full extent of the family’s wealth, a fairly consistent figure across regions. This approach was more frequently mentioned by smaller family offices than the largest family offices, 27 per cent to 15 per cent, respectively. Unfortunately, keeping interested

Natacha Minniti, international head of 23 Wall, J.P. Morgan Private Bank

young family members completely unaware of the family’s wealth may not be realistic in today’s global, digital world — nor may it be a good practice.

THE CHANGING FACE OF THE FAMILY OFFICE

When I talk to families and family offices globally, it won’t surprise you that managing financial assets is the number one objective. While family offices may be initially established to meet specific and often more immediate financial needs, many families look at them with longer-term views. This is evidenced by nearly 70 per cent of global respondents who identify succession planning and preparing the rising generation as goals. More than 40 per cent also view continuing the entrepreneurial legacy of family as a key objective. Family offices can also support a family’s philanthropic and other legacy goals. The term “legacy” means different things to different people, and our conversations with clients tend to coalesce around several themes: financial legacy for the family; continuation of the family business, if applicable; philanthropic, social and environmental impact; and a family’s standing or legacy within the community.

While these broad themes are largely consistent around the globe, our research revealed a few notable regional differences. Specifically, US based family offices seem to be much more focused on philanthropy and impact investing than international family offices. One-fifth of surveyed US family offices report having an in-house head of family foundation or philanthropy director, compared to just 2 per cent of international family offices.

There clearly is an opportunity here. In our conversations with clients, we have seen that siloed approaches to legacy considerations, such as philanthropy versus investment decisions, are becoming a thing of the past. Clients now want the entire spectrum of their wealth planning to reflect their goals. We hope to see this trend evolve as we continue to explore the views of family offices.

LARGE, ESTABLISHED FAMILY OFFICES WITH $1BN OR MORE IN ASSETS UNDER SUPERVISION HAVE AVERAGE ANNUAL OPERATING COSTS OF $6.1M , MAKING MANAGEMENT AND STRATEGIC OUTSOURCING A PRIORITY

Rediscovering local, sustainable farming

From greening deserts to improving local health and biodiversity, regenerative farming promises a sustainable future for both people and the planet

Rural communities in days gone by could take advanage of nature in a sustainable way; there was enough healthy and nutrient-dense food to be foraged – think wild mushrooms, wild strawberries, hazelnuts, blackberries, sloes, apples, wild garlic – to provide enough but no more than was needed, without having to ‘import’ unseasonal food from far outside their local communities.

In short, a natural, regenerative process with negligible food miles and zero environmental impact.

What happened then?

It’s no secret that modern, industrial farming

methods – the highly mechanised post-war farming models that rely on fossil-fuel-derived synthetic fertilisers – have impacted not just our soil health and quality, but also the local communities that live alongside and within our farming landscapes. Biodiverse agricultural and rural landscapes that once sustained local communities, now host mono-cultures maximised for yield and efficiency. Quantity has become the watchword over quality, and ever cheaper food, the overriding imperative. As a result, the proportion of household spend that goes on food has plummeted. In developed economies like the UK, for example, households spend just half what they spent in 1957, as a proportion of their household budget.

The intensive crop cultivation that industrial farming offered, represented a drastic reduction in local biodiversity. The UK’s Woodland Trust estimates that, in the UK alone, around 120,000 miles of hedgerows have been wiped out thanks to the intensification of agriculture. That’s the equivalent of flying return from Dubai to Lima, Peru – the furthest city on the globe from the UAE – more than six times.

What has the human race being doing to our landscapes?

Scientists and activists have been warning that we humans are chipping away at earth’s ecological lifesupport systems. In short, we’re engaged in a long process of altering nature, way beyond nature’s ability to sustain our own existence. And soil health falls firmly within the definition of an ecological life-support system.

But all is not lost. Of course, if you stop adding organic matter to soil, so it can rot down and turn into super-healthy humus, that will have a negative effect on soil health. But unqualified concerns echoed in the press that there are just 30 harvests left in our soil before it gives up the ghost are not exactly rooted in science; in reality, soil-erosion rates fall into sliding scales of severity. Just 15 per cent of fertile, productive arable land is thought to have a lifespan of less than 100 years if nothing changes; half of all soils across the globe have a remaining useful life of more than 1,000 years, and about one-third are in good enough shape for more than the next 5,000 years. If nothing changes.

Is this environmentally friendly way of farming new, what is it, and how can it help?

So, what exactly is this environmentally friendly way of farming – sometimes known as regenerative farming? In short, it’s a practice by which farmers grow and rear healthy, nutrient-dense and often organic food, and one that has been done for centuries alongside nature, until the arrival of industrial farming methods. It’s not in any way new.

QUANTITY HAS BECOME THE WATCHWORD OVER QUALITY, AND EVER CHEAPER FOOD, THE OVERRIDING IMPERATIVE. AS A RESULT, THE PROPORTION OF HOUSEHOLD EXPENDITURE THAT GOES ON FOOD HAS PLUMMETED

Half of all soils across the globe have a remaining useful life of more than 1,000 years , and about one-third are in good enough shape for more than the next 5,000 years

Thomas Puskas, CEO of Premium Food

SCIENTISTS AND ACTIVISTS HAVE BEEN WARNING THAT WE HUMANS ARE CHIPPING AWAY AT EARTH’S ECOLOGICAL LIFE-SUPPORT SYSTEMS. IN SHORT, WE’RE ENGAGED IN A LONG PROCESS OF ALTERING NATURE, WAY BEYOND NATURE’S ABILITY TO SUSTAIN OUR OWN EXISTENCE.

Think a rotational mix of cereals, leafy greens, legumes, cattle, pigs, sheep, chickens and grains. But here’s the kicker: it has to be done without using synthetic fertilisers, often referred to in farming circles as ammonium-nitrate fertilisers, as the world managed to do before scientists discovered the industrial processes necessary to ‘fix’ nitrogen in ammonia.

Why should we do without chemical fertilisers? Because synthetic fertilisers are not only dependent on natural gas a feedstock for its production, but also damage the make-up of soil, cause problems in waterways with excessive run-off of nitrate, and lead to nutrient-deficient plant crops. Typically, plants grown in soil fertilised with chemical fertiliser are deficient in iron, zinc, carotene, vitamin C, copper and protein.

How has this rediscovered way of farming impacted the UAE and Dubai?

Innovative farming practices have been trialled and established in the UAE. To green the Arabian desert, a few things need to be in place; nutrient-rich food depends on famers sowing crop varieties that suit diverse cropping systems, local geography and our own local consumer market. In addition, targeted human intervention with health-giving organic additives – think micro-biological liquid clay laden with essential organic matter – is helping UAE landscapes retain more water. As a result, leafy greens, corn, wheat, barley and soft fruits are now thriving in this desert landscape. What’s more, local desert ecosystems are beginning to re-establish themselves; nut, lemon and fig tress provide essential cover for a wide variety of wildlife, and cover crops like legumes and alfalfa help naturally fix essential nitrogen in the soil whilst protecting it from damaging wind or rain erosion.

How are local populations benefiting from an environmentally friendly way of farming?

Benefits for smallholder farmers, their families and communities: In many parts of the world, smallholder farmers, their workers and their families make up the entirety of the community. In the UAE, where just 5 per cent of land is given over to agriculture, that’s less acute that it was in predominantly rural economies, but helping smallholder farmers and helping local rural communities is one and the same; what benefits one will, by definition, benefit the other.

Benefits for rural economies: A re-discovered environmentally friendly and organic way to farm can often be more labour-intensive than industrial farming. That’s not to say the economics don’t stack up; as repeated studies have shown, farming that’s gentler to the environment sees net margins increasing, even if yields drop. Organic inputs also mean that job opportunities in local areas rise even further. Why? Because local organic food has, in some countries, already taken on a symbolic relevance as a catch-all panacea to many of the world’s problems – environment, food miles, a just-in-time global supply chain – and local populations and consumers alike have been shown to be enthusiastic about promoting the reconnection of consumers to farmers, and about increasing local economic multipliers. That’s the term economists use to describe a situation whereby increases in economic output are much bigger than the changes in spending that caused the increase. Knock-on effects like tourism and agritourism also bring extra economic activity to nature-dense rural land, as do the local microindustries that grow in support of regenerativefarming practices.

Benefits for the beauty of rural landscapes: In the UAE, as the desert is gradually greened and nature is reintroduced, it will turn into a major attraction for Emiratis seeking to reconnect with nature and enjoy its beauty. Elsewhere in the world, urban residents have been shown to put a high value on wildlife and biodiversity. The app Merlin, which instantly identifies a bird species by listening to its birdsong, has been a run-away success, with over 15 million downloads so far, demonstrating that both rural and urban populations are keen not only to get closer to nature, but to understand it better. That’s great news for farmers, as local communities seek to enable and promote the reconnection of consumers to the people who produce their food.

Benefits for health and personal wellbeing: Why is this all important? Because physical and mental health have strong correlations with people’s environment. Studies have shown that people who exercise close to nature no more than once a week cut their risk of poor mental health by around 50 per cent, compared to those who don’t. So, imagine the full-time benefits to communities living alongside a gentler way of farming, that allows space for biodiversity and nature.

In addition, the opportunities for physical exercise in nature should also be seen in the context of poor health outcomes in sedentary populations like Dubai’s: an overwhelming majority of the UAE’s population of 18 to 69-year-olds is overweight or obese. Obesity, brought on by high-calorie diets, excessive consumption of fast, energy-dense fast foods high in sugar with little nutritional value, coupled with a lack of physical exercise, has led to an increase in preventable diseases now all too common in the UAE: diabetes, hypertension, vascular and cardiovascular disease and cancer.

A rediscovered way of farming

For rural communities, so-called regenerative farming promises sustainable livelihoods in more temperate climates for many years into the future. Why? Because local communities and smallholder farmers have come to understand that this re-discovered way of producing food, by being gentler to the natural environment, has the power to address many of the world’s problems, but from a bottomup, grassroots approach. It’s the future.

Getty Images/Charles Harker

How the UK can aid the GCC to harness edtech for inclusive learning

The UK’s cutting-edge solutions make it an ideal partner for the GCC countries in advancing inclusive and innovative education initiatives

There is a growing market in the Gulf Cooperation Countries (GCC) for UK education, with a wave of firms expanding into the region. For example, Scotland’s Strathclyde University and Sheffield-based National Overseas College Network are set to open new campuses and training centres in Saudi Arabia and Bahrain.

This comes as GCC nations have focused on education and made substantial investments in improving and enhancing the knowledge industry over the years. Saudi Arabia, for instance, committed nearly 17 per cent of its overall expenditure plan in 2023 towards education which reflects its transition towards a knowledge-based economy.

This change acknowledges the post-pandemic era evolution in education, which has seen a shift from traditional classroom-based learning to innovative online platforms.

With education technologies (EdTech) such as online courses and virtual reality experiences more accessible than ever before, education is becoming personalised and multidimensional, catering to individual learning styles and interests.

OPPORTUNITIES FOR GROWTH

Trade between the UK and GCC from the past 12 months stands at GBP59bn at the end of March 2024, according to data from the UK Department for Business and Trade. This can be grown further through partnerships and collaborations, across a range of industries and especially the EdTech sector.

The GCC states can benefit from partnering with the UK, which boasts a

robust tech scene, which has been valued at over $1.1tn. This sector offers a wealth of opportunities for collaboration and investment.

In recent years, the strength and success of UK’s EdTech sector has garnered significant attention from global investors. The UK retained the top spot in Europe in 2023 in terms of both venture capital funding and deal numbers – with a total of $547m in 2023, more than 3.5X the levels observed in 2020. UK startups secured almost 3X of the number secured in the second-placed market, France. Research published in 2022 estimated that there are over 1,000 EdTech companies in England alone. While some of these companies operate exclusively in the UK, others are already active in international markets such as the EU and GCC.

EDTECH TRENDS

Furthering the competitiveness of British EdTech companies is the recent trend of artificial intelligence (AI), which is transforming lives on a rapid scale. Among the tectonic shifts brought about by this technology is its increasingly pivotal role in revolutionising education, streamlining administrative tasks, and enhancing classroom efficiency.

The UK could make more than half a trillion pounds in the next decade by embracing AI and cloud technology, with AI projected to boost the country’s GDP by GBP550bn by 2035. The UK’s AI capabilities, particularly in reducing teacher workloads and improving efficiency, align with the goals of GCC countries to enhance educational outcomes.

Additionally, the wide adoption of Massive Online Open Courses (MOOCs), and cloud-based Learning Management Systems (LMS) presents avenues for expanding access to quality education in the region.

POSITIVE IMPACT

Texthelp, an education software company from the UK, exemplifies the type of EdTech platform that countries across the GCC are deploying to enhance their education system.

Texthelp’s mission of ensuring everyone has the tools to understand and be understood aligns with the goals of GCC governments to expand access to education. Texthelp designs products which support students with reading, writing, and math difficulties. This includes providing essential tools such as text-tospeech, predictive spelling, and grammar assistance, meaning that students are provided with tools that complement their varying abilities and learning styles. The company’s technologies are deployed in over 50 countries across the globe.

Moreover, Texthelp’s focus on accessibility is crucial for the aims of the region in providing quality education for all students. By offering features like picture dictionaries and tools specifically tailored for math, Texthelp enables students with diverse needs to participate fully in the learning process.

Furthermore, Texthelp’s collaboration with technology giants like Google and Microsoft demonstrates its commitment to staying at the forefront of technological advancements.

PARTNERING FOR PROGRESS

Like Texthelp, which has helped millions of students over the past 28 years, the UK’s EdTech sector is commercially mature, and the integration of technology underscores its readiness to meet the evolving needs of education.

By leveraging the UK’s expertise and innovative technologies, governments across the region can accelerate their educational innovation and harness the immense potential of their youth, for the future.

To find out more about working with the UK businesses to make your vision a reality, visit great.gov.uk/gcc.

Riyadh Exhibition and Convention Center (Malham), Riyadh, Saudi Arabia

Can you share more details about Tencent Cloud’s new partnership with a Dubai-based digital wallet and how it will cater to the UAE’s tech-savvy audience?

Tencent Cloud’s new partnership with Balance, a leading e-wallet provider in Dubai, marks a key step in building a robust digital ecosystem in the region.

Driving digital transformation in the Middle East

Tencent Cloud is looking to expand its presence in the region amid strong demand for its services, says Dan Hu, vice president of Tencent Cloud International for the Middle East and North Africa

How has Tencent Cloud tailored its services to meet the specific needs of the Middle East market?

There is no “one-size-fits-all” approach when delivering digital services, especially on a regional scale.

While Tencent Cloud deploys the technical know-how, our partners provide invaluable local knowledge and insights into consumer demand, allowing us to customise our offerings accordingly. Over the years, our partners have consistently highlighted the push within the Middle East to diversify the regional economy.

This local knowledge informs the various offerings that Tencent Cloud identifies and tailors for the community. For example, in the digital entertainment industry, Tencent Cloud’s recent partnership with PlaysOut, a UAE-based global game technology company, is an early success story. Through this collaboration, PlaysOut will leverage Tencent Cloud’s Mini Program Platform to develop a modular and open digital platform, enabling developers to build and host their mini-programs and games.

Looking ahead, we see tremendous potential in the gaming sector, where our proven capabilities will foster growth and cultivate a thriving ecosystem of developers and players.

The UAE’s digital transformation market is set to grow significantly by 2029. What role does Tencent Cloud see itself playing in this growth?

The UAE is one of several Middle Eastern countries, alongside Saudi Arabia, leveraging the digital economy to grow their non-oil economies. The UAE’s Digital Economy Strategy has set ambitious targets to double the digital economy’s contribution to nonoil GDP from the current 11.7 per cent to over 20 per cent in the next ten years.

This aligns with broader regional megatrends, which project around $62tn in regional consumer spending by 2025, driven by rapid digital adoption and innovative business models.

Tencent Cloud is uniquely positioned to facilitate this growth. With our track record of supporting the Weixin and WeChat ecosystem, with over 1.3 billion monthly active users, Tencent Cloud hopes to collaborate with the region to transform the public and private sectors, benefiting end users.

Balance will integrate Tencent Cloud’s Palm Verification capability into its payment system, providing secure and seamless identity authentication for payments. In the UAE alone, contactless payments accounted for over 70 per cent of all point-of-sale transactions in 2023, highlighting a significant opportunity.

In the long term, Balance will explore adopting Tencent Cloud’s Mini Program Platform, allowing users to access a host of daily services and products through a single interface.

How does Tencent Cloud’s AI innovation strategy benefit businesses in the Middle East?

AI has been a cornerstone of Tencent’s innovation since the early 2010s. While large AI models can revolutionise industries, we believe businesses prioritise sustainable growth by focusing on specific needs.

Our goal is to help financial institutions and businesses apply AI to enhance operational efficiency and competitiveness. AI personalisation, for example, enables businesses to meet consumers’ increasing demand for tailored services. Tencent Cloud’s AI capabilities, such as Abu Dhabi’s digital ambassador “Khalifa,” engage millions of Weixin users, encouraging them to visit the UAE. Digital humans also offer exciting opportunities for virtual news anchors, interpreters, and customer service agents.

The UAE is one of several Middle Eastern countries, alongside Saudi Arabia, leveraging the digital economy to grow their non-oil economies.”

ATIF RAHMAN ON ELEVATING DUBAI’S REAL ESTATE GAME BUILDING LEGACY:

IN THIS Q&A, THE FOUNDER OF ORO24 SHARES HIS JOURNEY THROUGH DUBAI’S REAL ESTATE LANDSCAPE, HIS APPROACH TO RESILIENT GROWTH, THE IMPORTANCE OF STRATEGIC PLANNING, AND HIS PERSPECTIVE ON THE FUTURE OF THE REAL ESTATE MARKET

WORDS GARETH VAN ZYL | PHOTOS MARK MATHEW

Atif, ORO24 is your third successful venture in Dubai. Can you tell us more about your journey?

I have thoroughly enjoyed the journey, and while it feels rewarding, I never stop learning and improving. I have certainly built successful businesses and nurtured many talented individuals along the way. The most important thing is that they continue to grow in their respective fields. Each business I’ve built was founded on a vision tailored for its time, followed by assembling a team to help execute it. No journey to success exists without failures, and I have certainly experienced some. In pursuit of success, you will face challenges – be it decisions, people, situations, processes, methods, or choices. It’s by confronting these obstacles fearlessly that success is achieved. To reach the top and stay there, it’s essential to be resilient in both success and failure, keeping a firm focus on the vision.

I started ORO24 immediately after Covid­19, not the most opportune time for the economy or the industry. I was simply backing my latest aspiration: to build a transformational company with great professionals delivering human­sensitive assets. We’ll be completing three years next month. I have been fortunate to work with a fantastic team that has turned the organisation into a force to be reckoned with, and I am confident they will continue to set new benchmarks. We are about to deliver an incredible gated community of six buildings, and alongside that, we will be announcing something truly significant.

Your portfolio is growing— over Dhs11.5bn in total sales and 11,750 units across 32 projects. What key factors have contributed to this growth? Every project is unique, and I have learned countless lessons from each one, whether during the planning stages or through execution. Property development is an attractive yet complex and high ­ risk business, with challenges at every step. The most vital lessons have been resilience and taking a scientific approach to every situation. I remember building two projects just 70 metres apart, both twin towers. While one proceeded smoothly, we faced a unique challenge with the other. After reaching the formation level, half of the plot sank by over a metre, despite a comprehensive soil investigation study before construction commenced. I brought in experts from Singapore and England, who found that the land had been backfilled and contained layers of gypsum­extremely fine particles that washed away during dewatering, leaving cavities. We then decided to build pile beds beneath the raft for added safety. I have a whole library of such experiences, and I continue to learn from them. I believe that meticulous planning, expanding core competencies, controlled leveraging, healthy cash flow, strong construction management, and a focus on delivery are crucial for success in this industry. Every project faces its own set of challenges, and it’s vital to minimise unknowns as much as possible because surprises are inevitable.

You have navigated through three economic cycles. What lessons from those experiences are shaping your current strategy?

It is a common misconception that economic crises are the only times of challenge. In reality, you encounter equal or sometimes greater challenges during boom periods too. For example, an off­plan project that sells out quickly during a boom has its top line secured, but without adequate planning or contingency, it may still be at risk due to design flaws, cost inflation, or a shortage of contractors and materials. My investments in technology, while beneficial, also come with their own risks. Reflecting on the 2008 economic crisis, I value the lessons it taught me. We had eight ongoing projects, and it was not an easy period. Remaining conservative was our greatest asset. Many

NO JOURNEY TO SUCCESS EXISTS WITHOUT FAILURES, AND MINE HAS HAD ITS SHARE. IN THE PURSUIT OF SUCCESS, YOU WILL FAIL BECAUSE OF DECISIONS, PEOPLE, CIRCUMSTANCES, PROCESSES, METHODS, CHOICES, AND MORE. IT’S BY FACING THESE CHALLENGES FEARLESSLY THAT YOU ACHIEVE SUCCESS.”

adventurous and overly ambitious transactions took place just before the crisis, but we stayed focused on strict credit policies and economical leveraging, which allowed us to maintain sufficient cash flow to complete all projects when the crisis hit. The next major challenge was the pandemic. I learned the importance of supply chain control and accelerated construction management, which helped us navigate the situation smoothly. Looking back, I realise that one misstep during any of these crises could have brought the company down.

My strategy is rooted in understanding that my business affects many stakeholders, including employees, customers, regulators, bankers, brokers, contractors, suppliers, and more. Knowing that you cannot afford to let any of them down drives the mind to find solutions. Experience has taught me that where there are risks, there are methods to mitigate them. If there are challenges, there are also opportunities. It’s essential to constantly assess and eliminate exposures.

I owe my approach to the values instilled by my grandfather and father, who taught me the importance of ethics, duty, and responsibility. They also imparted the knowledge of real estate and construction that I carry with me every day.

You spend a lot of time in the US, how has that impacted your personality?

Yes, I have learnt a lot during my various stays in the US. I honestly believe that the country created a legacy before most other countries in many spheres, especially technology, real estate and the financial market. I have always visited as a student to learn and educate myself. As the leader in my office, it’s important that I inspire new thoughts and possibilities, for that I must continue to learn. Additionally, it’s a huge landscape and you never get

“I WOULD CAUTION ALL NEW PLAYERS AGAINST SPECULATIVE PRACTICES AND ADVISE THEM TO ADOPT A LONG-TERM VISION, AS GOOD PRACTICES WILL ALWAYS YIELD GOOD RETURNS IN DUBAI.”

“EVERY PROJECT IS UNIQUE, AND I HAVE LEARNT COUNTLESS LESSONS FROM EACH, WHETHER DURING PLANNING OR EXECUTION.”

bored. I have also used my travel to educate my daughters on many things including business, life and minimalism.

What is your view on the influx of new developers and brokers entering the market?

Having spent over two decades in Dubai’s real estate industry, I am proud to see more people investing in this remarkable city. It’s a positive sign, clearly demonstrating the growth of Dubai’s real estate sector. This influx will undoubtedly contribute to economic expansion, with increased contributions to the GDP. While competition will rise, it bodes well for the future of our industry.

I would advise new players to steer clear of speculative practices and adopt a long-term vision, assuring them that good practices will always lead to profitable returns in Dubai. For brokers, my advice is to understand clients’ needs, be genuine advisors, and recommend appropriate asset investments. This approach will earn continued loyalty and referrals. For developers, don’t rush; invest in expertise and focus on delivering quality projects without overextending financially. We must adhere to regulations and work together to safeguard the industry from malpractice.

There is considerable activity among financial institutions entering the market, as they continue to see growth opportunities. I would like to see existing firms grow and an increase in new consultants, contractors, and suppliers. The industry is expanding rapidly, offering substantial opportunities for all, maintaining the ecosystem’s balance. I am a firm believer in relationships and collaboration, and I have been pleased to advise some of the new brokers and developers on various matters.

With projects in prime locations like Arjan, Furjan, Studio City, Jumeirah Village, Business Bay, and more, you have established a solid footprint in Dubai. How do you choose locations for your developments?

I’m glad you consider these prime locations today. I remember when they were seen as secondary or less attractive, and now there is hardly any land left. We were the first to build freehold real estate in Arjan,

Studio City, and Furjan a few years ago, and those areas have appreciated significantly. The city has expanded rapidly and will continue to do so, and those who have made prudent investments in future locations will see good returns.

The 2040 master plan aims to transform the city into one of the world’s most liveable places. While ultra-luxury locations like the Palm, Marina, and Downtown have their markets, they won’t suit every budget. Dubai offers a wide spectrum of real estate investment opportunities for every budget. The government is committed to enhancing each location’s appeal. The best way to approach asset acquisition is to assess your budget, return expectations, and real estate preferences, and then make informed investments. Rather than investing to flip, hold onto the investment for a few years and enjoy solid returns.

At ORO24, we are a boutique company focused on mid-segment quality assets. We understand the need to provide a competitive edge to our consumers to stay relevant in the market. Every real estate project begins with the land, and we work hard to select the best available option. Following this, we design an innovative asset, and when we are confident enough to invest in it ourselves, we offer it to the market. I firmly believe that real estate is not sold; people buy real estate, and this approach helps us attract buyers who genuinely believe in our offerings. We also ensure we operate within our capacity so that each project receives the attention it deserves. Through every community we build, we strive to add value to the real estate landscape.

The UAE real estate market is known for its resilience and growth potential. What is your outlook for the sector?

Every indicator today favours Dubai, whether you consider competitiveness, ease of doing business, safety, transparency, or digitisation. Credit must go to the leadership and government agencies. I have said this many times before and will repeat it: in most other countries, the private sector leads the way, while in Dubai, it’s the opposite. This is reflected in the substantial investment in infrastructure, whether existing or planned. What is commendable is that, unlike many places, the Dubai government is always active and constantly working to elevate the city to the next level. This consistent effort underpins its resilience. It’s akin to a healthy body continually building its immunity, which rarely falls ill. That said, it’s important to recognise that every economy must go through cycles. Real estate corrections, debt defaults, and construction risks are natural outcomes for any industry during a downturn. Personally, I believe a global slowdown is imminent, with signals such as an inverted yield curve, deflationary trends in China, and contrac tions in major European economies, which experts are already warning about. Capi tal will inevitably move to more attractive opportunities, and Dubai is well-positioned to capitalise on this. The city has demonstrated its strength and ability to recover from economic and global crises, such as the pandemic. In the long term, Dubai will continue to attract investment and a growing population.

DUBAI’S 2040 MASTER PLAN PROMISES TO TRANSFORM THE CITY INTO ONE OF THE WORLD’S MOST LIVEABLE PLACES

You have been recognised for both financial innovation and design excellence. Can you share any upcoming initiatives or projects that will push the boundaries?

Product innovation and financial liberalisation are essential for any industry. To stay relevant, we must continuously offer new solutions to our customers. We study human needs and aim to create solutions in our real estate offerings through functional space planning, amenities, and financial liberalisation. Our unique selling point extends beyond a single aspect and is centred around providing comprehensive solutions for our customers. For example, when I introduced the 1 per cent posthandover payment plan, the goal wasn’t only to make consumer financing more accessible but also to secure the construction, which is equally crucial for project delivery. I have been pivotal in developing some ground­breaking design solutions that maximise space utilisation, achieving great success. Good governance is vital for any industry. I was the first to voluntarily implement third­party surveys of drawings to provide consumers with size guarantees. We’re also designing our communities to serve non­occupants, such as delivery personnel and movers. I am particularly interested in how our communities impact even the smallest segments of our audience. The idea is to create real estate with soul.

On that note, how do you build your communities? What is the foundation of your project design approach?

As I mentioned, we begin by studying the land and its surrounding

“OUR AIM IS TO DESIGN SPACES WHERE HUMAN LIFE THRIVES, AND THAT IS REFLECTED IN OUR PROJECT DESIGN.”

areas to determine suitable architecture. We draw inspiration from human life and modern needs, using these insights as key data points during the design process. There are three primary elements that help make our real estate offerings attractive: economies of scale, modular design, and value engineering. We also collaborate with specialised companies through strategic partnerships. In my experience, backward integration can be limiting and increase risks, so we avoid it. Through all these elements, we envision human life thriving within our communities, which is reflected in our project designs. Much of our work revolves around delivering value through rethinking and reimagining real estate.

What emerging trends in real estate do you believe will have the most significant impact on the UAE market?

In the short term, contrary to concerns about oversupply, I believe there will be an increased demand for quality residential real estate, along with significant new demand in both commercial and industrial sectors. Population growth will also fuel demand for specialised real estate, such as educational and healthcare facilities. In the long term, I see vast opportunities in innovative real estate solutions, construction technology, and financial modelling within the real estate industry.

We know you are passionate about CSR. What’s next?

I am human; I am not perfect, and I am also a God ­ fearing person. I genuinely believe that God favours those who give back. This belief makes me feel that CSR is the soul of our organisation. Today, we have a CSR committee supporting numerous initia tives, and many of our employees volunteer in CSR activities. The satisfaction of giving is greater than receiving. In fact, we work hard to grow the organisation so our ability to support social causes grows as well. Our latest initiative, launched in June this year, is called “Heroes of the Site”. While it is still small, I have big ambitions for it. With the growth of the real estate industry, I believe it’s essential for site workers to also reap the rewards.

Corporate culture in the modern age

Meiraj Hussain, chief corporate officer at Al Masaood Group, explores how modern organisations can foster environments that prioritise adaptability, purpose, and a human-centered approach

The business landscape today is vastly different from what it was a decade or even five years ago. Constant change due to rapid technological advancements and a workforce that is increasingly required to shift priorities are resulting in a space that is transforming with each passing day.

Corporate culture thus emerges as a key element in making workplaces sustainable, innovative, adaptable, and above all, human. This evolution, while challenging, presents us with a unique opportunity to redefine organisational ethos and practices to better align with the need to successfully compete and win for the best customers, employees and business partners to help achieve the company’s organisational goals.

Insights from a recent Deloitte survey state that 94 per cent of executives and 88 per cent of employees believe a distinct workplace culture is vital for business success. In fact, it’s a top priority for highperforming employees.

Culture is something that one experiences rather than a marketing gimmick or a claim. It is the collective experience of leadership behaviours which defines their relationship with the organisation ultimately, impacting personal and professional lives of not just employees but customers and business partners. To cultivate an exceptional organisational culture, companies need to prioritise the intangible aspects of culturebuilding that resonate deeply with employees. While executives often focus

on tangible elements like financial performance and competitive compensation, which are of course, a priority, employees, however, also place equal value on factors such as a transparency, collaboration, feelings of safety and security and a shared sense of purpose and momentum.

ORGANISATIONAL RESILIENCE

At a time of great technological integration and unprecedented change, organisational resilience calls for continuous learning, development, and evolution and for leaders to map out how this change will impact work and what it means for people doing certain jobs. Change management during these periods is key. Humans are naturally resistant to change, but managing this resistance positively is something many leaders grapple with and some do exceptionally well.

Understanding the discomfort that change can bring, especially for longstanding employees of a company, is crucial. It’s important to encourage a gradual integration, allowing employees to adapt to new practices, processes and methods. This approach helps preserve the familiarity and security that employees value.

At Al Masaood for instance, the integration of SAP’s cloud-based solutions across our corporate office, automotive, industrial, and property sectors serves to streamline operations while embedding a culture of innovation, efficiency,

transparency and speed of execution. This deployment will have a significant impact on how work is done. We have approached this project in a phased manner with education at its core, to ensure a smooth transition for everyone.

It’s important to note that with nearly half of employees’ skills expected to be disrupted in the next five years, the need for upskilling and cross training cannot be overstated. As organisations invest in developing the competencies of their people to ensure an adaptive and resilient workplace, friction through anxiety and fear of change is natural and to be expected. An organisation that puts culture at the forefront is much more likely to weather the change coming its way.

SHAPING CORPORATE CULTURE

Naturally, this means that leadership plays a crucial role – both in shaping and sustaining the desired corporate culture. Leaders must be champions of embodying and reinforcing the organisation’s values in their daily actions and decisions. They need to be accessible and committed to creating this environment of openness and inclusivity, building momentum that is visible and sharing and celebrating milestones. By doing so, they help cultivate a sense of belonging and loyalty among employees, which is invaluable in driving collective success.

Today, it’s technological integration; tomorrow, it will be another innovation. Yet, through all these changes, corporate culture remains a constant theme of focus. This journey is about enhancing satisfaction and efficiency whilst ensuring organisational goals are achieved. As we navigate these shifts, maintaining a strong corporate culture ensures that our foundational principles guide us, keeping us aligned and effective.

Pics: Supplied

Meiraj Hussain

Redefining urban living in Qatar

MSHEIREB PROPERTIES’ CEO ALI AL KUWARI DELVES INTO THE INSPIRATION BEHIND MSHEIREB DOWNTOWN DOHA, ITS IMPACT ON THE COMMUNITY, AND THE FUTURE OF REAL ESTATE IN QATAR

BY NEESHA SALIAN

Msh eireb Properties, the master developer behind Doha’s pioneering sustainable district, is reimagining the city skyline. In an exclusive interview with Gulf Business, CEO Engineer Ali Al Kuwari delves into the inspiration behind Msheireb Downtown Doha, its impact on the community, and the future of real estate in Qatar.

Msheireb Downtown Doha is a unique blend of modern design and Qatari heritage. Can you elaborate on the inspiration behind this architectural approach and the challenges, if any, in achieving this balance?

Msheireb Downtown Doha is a radical new development that blends traditional Qatari heritage and aesthetics with modern technology, focusing on sustainability and

harmony with the environment. The project aims to redefine urban living, bring people back to their roots, and rediscover a sense of community and togetherness.

To achieve these ambitions, we drew inspiration from our past. This involved undertaking a three-year collaboration with some of the world’s leading academics and urban planners to develop a new definition of the architectural language unique to Qatar that strongly drew on traditional building and design practices and celebrated Qatar’s unique heritage while meeting the needs of today’s modern families and communities.

For example, we incorporated the traditional courtyard design throughout the downtown. Residential townhouses are clustered around central courtyards that offer privacy and an internal space for families and communities to gather. Barahat

Msheireb, located between the M7 cultural and design hub and Mandarin Oriental Doha takes the idea of the majlis to the community level, creating a public square for people to come together in the heart of Doha.

The primary challenge that we faced was determining, from all the wonderful inspiration that we had, which design elements to feature, to achieve a balance between the past and present. What you have today, with Msheireb Downtown Doha is a unique blend that celebrates the best of Qatari architecture, in a modern way.

Sustainability is a key consideration for Msheireb Downtown Doha. How have you integrated the latest smart city technologies and sustainable features into the project and what measurable impact have these features had on the project’s environmental footprint?

Sustainability is the core principle for Msheireb Downtown Doha – it has been built from the inside out, with the deployment of the latest innovative technology within the development. Alongside this smart tech, we have utilised design to encourage sustainable behaviours and to improve quality of life with a deep respect for the environment at the core.

A good example of this is that buildings have been positioned to shade one another and the materials used are light in colour to reduce cooling requirements. Msheireb Downtown Doha’s infrastructure also uses eco-friendly building material, thicker walls, and heat-isolating glass that prevents heat loss and keeps the internal temperature lower, resulting in the use of less energy for cooling.

Most buildings in the development are also fitted with over 6,400 rooftop solar panels to provide onsite energy generation and 1,400 solar panels to secure hot water, which generate around 25 per cent of power for many buildings. There are additional systems that recover rainwater and air conditioning condensation into basement tanks, where the water is also reused for irrigation and to flush toilets.

Within the buildings, we have built-in modern technology, such as high-speed internet, to help residents stay connected wherever they are in the district.

ADDITIONALLY, MSHEIREB DOWNTOWN DOHA INCORPORATES INTERACTIVITY, DRAMATIC STORYTELLING, AND A STRONG FOCUS ON CELEBRATING THE SOCIAL HISTORY OF QATAR, WHERE VISITORS CAN LEARN ABOUT OUR RICH HISTORY AND CREATE A PERSON-CENTRIC DESTINATION FOR LIFE, WORK AND LEISURE.”

has achieved exactly that, providing a blueprint for how to achieve this balance and create a premium product in the process.

The Doha Design District is a platform for local and regional designers to showcase their products on an international platform and collaborate with peers from around the world. M7 is an arts and design incubator for local talent, helping creatives actualise and market their designs.

Mshereib Properties is a subsidiary of the Qatar Foundation. Does this affiliation influence your company’s approach to development? In what ways do you contribute to the Foundation’s broader goals of education, science, and community development?

Ali Al Kuwari

Msheireb Downtown Doha caters to a diverse audience with residential, commercial, retail and cultural offerings. How did you approach creating a community that fosters a sense of vibrancy and inclusivity?

The feedback we have received has been overwhelmingly positive – evidenced by the phenomenal growth in new tenants shifting their operations into the district.

Msheireb Downtown Doha fully opened to residents and commercial tenants over the past 12 months and is now Qatar’s top destination for life, work, and play. As the new business hub, Msheireb Downtown Doha is home to many of the biggest tech and innovation companies, including Microsoft, Total, Google Cloud and others.

We are also working hard to become the home of culture and events in Doha. Msheireb Museums features four heritage buildings that tell the story of Doha’s growth, and the impact of oil discoveries on the country’s development and teach about the history of slavery in the region.

We have seamlessly achieved a melding of business and culture by taking the time before we started building, to think deeply about how people want to live, work, and play today. We developed a brand-new architectural language that brought our vision to life, and I think it’s fair to say, that the articulation of this vision has been well received by our tenants.

Looking beyond Msheireb Downtown Doha, what is your outlook on the real estate market in Qatar? Are there any specific trends you see shaping the future of urban development in the region?

We are positive about where the real estate sector is heading, which is evidenced by the significant demand we have seen for new tenancies at Msheireb Downtown Doha. There is a confidence, post-World Cup, about where Qatar as a nation at the centre of regional events is heading, and we feel very positive about this.

The trend towards sustainable development, which we have prioritised at Msheireb Properties, is one that we see taking the design world by storm. This is a direct response to the growing expectations of consumers – who today, demand that decisions are taken which are good for the planet. That means, for property developers we must be cognisant of these demands from the outset. Msheireb Downtown Doha

Msheireb Downtown Doha was guided by Qatar National Vision 2030 to transform Qatar into a country capable of sustaining its development and providing a high standard of living for future generations. Under the patronage of Sheikha Moza Bint Nasser, and her vision to build human capability for Qatar’s future, we work closely with other partners within the Qatar Foundation family to achieve these goals.

Since its official launch just ahead of FIFA World Cup Qatar 2022, Msheireb Downtown Doha has established itself as one of the country’s main touristic and cultural destinations, attracting over four million visitors during the World Cup period. The downtown’s cultural offering features a seamless blend of historic relevance and contemporary comfort.

Additionally, Msheireb Downtown Doha incorporates interactivity, dramatic storytelling, and a strong focus on celebrating the social history of Qatar, where visitors can learn about our rich history and create a person-centric destination for life, work and leisure.

What

are

Mshereib

Properties’ plans for the future? Are there any upcoming projects or initiatives you can share with us?

Over the next five years, we plan to continue growing and sustaining our cultural experience by continuously enriching our offerings and exhibits at Msheireb Museums and Msheireb Downtown Doha, expanding our educational programmes, engaging with the local community, and improving our services.

We will foster a sense of pride in Qatar’s heritage and stay at the forefront of sustainable development, using innovative technologies to enhance the visitor experience and preserve Qatar’s cultural heritage.

UAE-Italy: Building on cooperation

ITALY’S AMBASSADOR TO THE UAE, LORENZO FANARA SHOWCASES HOW ITALIAN EXPERTISE IN ART, FASHION, AND GREEN INNOVATION IS FUELLING A ROBUST CULTURAL AND ECONOMIC EXCHANGE BETWEEN ITALY AND THE UAE

BY NEESHA SALIAN

In an exclusive interview, Italy’s Ambassador to the UAE, Lorenzo Fanara, delves into Italy’s expanding role in the UAE’s fast-evolving landscape. From showcasing Italian creativity at Dubai Fashion Week and Expand North Star to driving impactful partnerships in sustainability and technology, Ambassador Fanara highlights how Italian expertise in art, fashion, and green innovation is fueling a robust cultural and economic exchange between Italy and the UAE.

Italy has a strong presence in the technology, fashion, food, luxury goods and other industries. How do you view the participation of Italian companies at events like Expand North Star and Dubai Fashion Week in showcasing Italian innovation and creativity to the UAE market?

Expand North Star is one of the most important networking events for global startups and investors. Italy is synonymous

with innovation and creativity, so this event is the right platform to promote Italian tech companies and startups. Italy is home to some of the world’s leading luxury brands, a vector for quality and creativity. The importance of Dubai Fashion Week is also growing rapidly. Thanks to our Italian Trade Agency, we organised the first ‘La Moda Italiana’, the inaugural event of the prestigious Dubai Fashion Week, with 25 leading Italian brands in the clothing, textile, footwear, leather goods and eyewear sectors, categories in which Italy has a very long tradition, experience and international prestige.

Trade between Italy and the UAE has grown significantly in recent years. Could you elaborate on the key sectors driving this growth and how Italian businesses are capitalising on the opportunities in the UAE?

Italian exports to the UAE have been growing steadily: in 2023, Italian exports to the UAE reached a record EUR6.6bn, with an

increase of 10.45 per cent compared to 2022. This trend is also growing in the first half of this year. For the time being, Italian exports to the Emirates market have not been affected by regional instability: in the first six months of 2024, our exports to the Emirates reached a record EUR3.8bn.

In 2023, the top sectors of Italian exports to the Emirates were the following: jewellery, mechanics, fashion, electrical and electronic equipment, food, furniture and vehicles (cars, tractors and motorbikes).

Italian exports to the UAE are also significantly higher than to much larger countries, such as India.

With the UAE’s focus on becoming a global hub for innovation and technology, how are Italian tech companies contributing to this vision? Are there any particular fields, such as AI or fintech, where you see strong synergies?

Hundreds of Italian companies have been operating here for decades in many sectors: energy, oil and gas, construction, furniture, food, fashion and so on, and we thank the Emirates for appreciating the high quality, style, elegance, sustainability and technology of products ‘Made in Italy’. I also see many opportunities for strong synergies and partnerships in the AI and fintech sectors. The UAE is becoming a global hub for

ITALY HAS ALSO LAUNCHED A NEW ‘INVESTOR VISA FOR ITALY’ PROGRAMME, AIMED AT NON-EUROPEAN CITIZENS WHO WISH TO INVEST IN STRATEGIC SECTORS FOR THE ITALIAN ECONOMY AND SOCIETY, WHILE BENEFITTING FROM VERY FAVOURABLE VISA PROGRAMMES AND TAX REGIMES.”

innovation and technology, and this wonderful country has just demonstrated to the world its great expertise in technological innovation in many sectors.

We were delighted to present – during the Expand North Star exhibition – 24 exceptional Italian companies dedicated to innovation and excellence.

What initiatives or collaborations are being pursued to strengthen knowledge exchange between Italy and the UAE,

especially in sectors such as education, research and innovation?

Italy is investing significant financial resources to increase the level of digitisation of its economy, society and public administration. This growth trend is expected to consolidate thanks to the massive investments planned for the digital transition by the Italian National Recovery and Resilience Plan, which focuses on three strategic axes: digitalisation and innovation, ecological transition and social inclusion.

In this context, Italy offers great and profitable investment opportunities in the data center industry, artificial intelligence and machine learning. Italy has also launched a new ‘Investor Visa for Italy’ programme, aimed at non-European citizens who wish to invest in strategic sectors for the Italian economy and society, while benefitting from very favourable visa programmes and tax regimes. We are also developing forms of collaboration in Africa between UAE and Italy in sectors such as education, research, and energy.

Italian culture is highly respected globally. How is Italy leveraging its cultural heritage – through art, design, and soft exports – within the UAE? Can you provide examples of successful cultural collaborations between the two countries?

Italian art and culture are indeed greatly

appreciated in the UAE and the promotion of culture has been one of my priorities since my arrival.

On the occasion of COP28, together with the Italian company Eni, we brought to Dubai the world-famous orchestra of La Scala Opera of Milan, for the first time ever in the Gulf, and we were honoured of the attendance of the Italian Prime Minister and of many Emirati and international dignitaries.

This year, in January, we brought the Puccini Opera to Abu Dhabi Festival, to celebrate the 100th anniversary of the passing of one of Opera’s most loved composers. More exciting projects are on the horizon.

Both countries are committed to sustainability and green initiatives. How are Italian companies contributing to the UAE’s sustainability goals, and what role do Italian innovations in renewable energy and sustainable design play in this partnership?

The main theme of the Italian Pavilion at Expand North Star is ‘Sustainability is SustainabITALY’, confirming Italy’s commitment to technology innovators and start-ups as key components of the country’s transformation towards a greener and more ecological economy in various sectors.

We thank our Italian Trade Agency for focusing this year’s Italian participation on Expand North Star to the Green Economy. Italy is emerging as a leader in clean energy capacity. In 2022, Italy’s energy production comes mainly from renewable sources (hydro, photovoltaic, wind and geothermal).

Italian companies play a key role in providing advanced renewable energy solutions to the UAE.

Lorenzo Fanara

HP’s vision for AI and digital transformation in the UAE

Ertug

Ayik, vice president and managing director for HP in the Middle East and Africa, shares insights into the UAE’s rapidly growing ICT sector, valued at $47.36bn in 2024

WHAT IS THE VALUE OF THE ICT SECTOR OR MARKET IN THE UAE IN 2024?

Based on market studies from Mordor Intelligence, the UAE tech sector is estimated to be valued at approximately $47.36bn in 2024 and is expected to reach $77.28bn by 2029, growing at a CAGR of 10.29 per cent during the forecast period (2024-2029). This significant market size is driven by the country’s strong focus on digital transformation, AI integration, cloud computing, and 5G infrastructure advancements.

WHAT ARE THE LATEST TRENDS IN THE TECH SECTOR OR MARKET IN THE UAE IN 2024?

The integration of AI into every piece of technology is the most predominant trend we have been observing across the globe and in the UAE tech sector. AI has been seeping its way into all industries from cybersecurity to gaming, revolutionising the way we work and live. According to the annual HP Work Relationship Index, instead of being perceived as a job threat by employees, AI enhances employees’ relationship with work. In fact, 73 per cent of those already using AI agree it makes their job easier. At HP, we ensure these trends are the foundation of our products, delivering solutions and services that simplify and enhance everyday life.

THE UAE IS WITNESSING A SURGE IN ONLINE GAMES, WITH PROJECTED REVENUES OF $50.60M THIS YEAR

WHAT ARE THE SECTORS WITH THE HIGHEST DEMAND FOR ICT PRODUCTS OR SERVICES IN THE UAE?

For HP, one of the key verticals is the gaming sector. The UAE is witnessing a surge in online games, with projected revenues of $50.60m this year. Gamers are increasingly embracing virtual reality technology for immersive experiences and are getting more involved in esports and live streaming events. In response to this, we have designed a wide array of cuttingedge products catered to gamers, allowing for an elevated and more immersive gaming experience. These products include our OMEN laptops. We also offer HyperX products, such as gaming headsets, microphones, mice, and keyboards.

Cybersecurity is another area of focus, with HP acutely aware of the growing threats posed by malicious actors exploiting AI. As highlighted in HP Wolf Security’s latest Threat Insights Report, attackers are now leveraging AI to generate malware, thereby accelerating their attacks and reducing the skill threshold needed to compromise endpoints. In response, HP is emphasising the need for businesses to enhance their endpoint resilience, minimise their attack surface, and work tirelessly on comprehensive PC security through HP Wolf Security.

Another industry vertical that has been a focus for us is education. Bridging the digital divide in the Middle East is a key aspect of HP’s Sustainable Impact agenda. HP aims to accelerate digital equity for 150 million people globally by 2030.

The integration of AI into every piece of technology is the most predominant trend we have been observing across the globe and in the UAE tech sector.”

Fuelling the future

MAAZ QURESHI, VICE PRESIDENT OF DIGITAL BUSINESS AT ADNOC DISTRIBUTION, SAYS THE COMPANY IS INVESTING IN DATA-DRIVEN, AI-ENABLED SOLUTIONS TO DRIVE CUSTOMER EXPERIENCE AND OPERATIONAL EXCELLENCE

BY KUDAKWASHE MUZORIWA

What innovative technologies did ADNOC Distribution showcase at GITEX this year? How do you see these advancements impacting the future of the energy sector?

ADNOC Distribution highlighted several key initiatives at GITEX 2024, including a robotic electric vehicle (EV) charging arm as part of our E2GO charging programme, a self-checkout system that uses machine learning (ML) for a seamless customer experience, an AI-enabled Fill & Go fuelling, Plug & Charge automatic EV charging,

and plans for AI-enabled fuel and convenience stores of the future.

These innovations demonstrate how ADNOC Distribution is transforming the service station experience in the UAE and further afield. By leveraging AI and advanced digital technology, we are driving digital transformation and exploring how ML, data analytics, and automation can enhance our operations.

How is ADNOC Distribution using technology to improve the customer

experience at its retail stations? What specific initiatives are being implemented to enhance convenience?

ADNOC Distribution is investing in datadriven, AI-enabled solutions to enhance customer experience while driving operational excellence and sustained growth.

Maaz Qureshi

We use AI and digital technology to deliver hyper-personalised customer experiences, reduce wait times, and improve store operations. For instance, our Fill & Go service facilitates seamless fuelling using automatic licence plate recognition or QR code scanning, which then activates customer preferences in the ADNOC Distribution app. This service is currently available at 13 stations across the UAE, with a national rollout planned by the end of 2024.

Our Click & Collect service allows in-app ordering of ADNOC Oasis products for delivery to your car or in-store collection. The service is now available at more than 50 stations across the UAE, and its suggestions are powered by data-driven, hyperpersonalised customer preferences.

Furthermore, for EVs, our E2GO Plug & Charge feature automatically recognises your car and starts charging once you plug in after a one-time setup on the ADNOC mobile app. Currently available for select auto manufacturers, this feature creates a seamless charging experience. Once charging is complete, all our customers have to do is unplug and drive off, with payments handled automatically within the app itself.

How is ADNOC Distribution currently leveraging advanced technologies such as AI, the cloud, and blockchain to enhance its operations?

When it comes to operations, our Smart Fuel Demand Prediction Model forecasts the needs of thousands of customers every day. It combines historical and real-time data with deep learning neural networks, ensemble methods, and forecasting techniques to predict and meet future fuel demand with 95 per cent accuracy.

It also cuts total fuel truck emissions by 10 per cent, moving us closer to our net zero goal by 2045 while helping us with our goal of a 25 per cent reduction in operational carbon emissions by 2030. While this specific AI-enabled solution has been

OUR CLICK & COLLECT SERVICE ALLOWS IN-APP ORDERING OF ADNOC OASIS PRODUCTS FOR DELIVERY TO YOUR CAR OR IN-STORE COLLECTION. THE SERVICE IS NOW AVAILABLE AT MORE THAN 50 STATIONS ACROSS THE UAE, AND ITS SUGGESTIONS ARE POWERED BY DATA-DRIVEN, HYPERPERSONALISED CUSTOMER PREFERENCES.”

highly successful so far, it is just one early step in a much more comprehensive future for our company and industry, powered by AI and advanced digital technologies across our entire value chain.

What technological innovations are you currently developing or considering? How do these align with the changing consumer requirements and the market? We currently have more than 20 AI-focused projects either operational or under development across the company and are working towards a smart station model where AI enables every step of, well, everything.

ADNOC Distribution views AI as critically important across our value chain. This could, in the future, include using algorithms to select the best sites for new service stations, employing big data to identify underserved areas, and maximising returns on investment in the process.

Other tools would then be deployed to design the service stations themselves, maximising design efficiencies and creating optimised layouts that best serve our customers’ needs.

Once stations are built, AI tools can help determine which products appear on the shelves, a process called Intelligent Assortment. By aggregating and analysing customer purchase data, we will be able to predict what products our customers want and optimise our stores to maximise turnover and customer satisfaction. Predictive product demand mapping further optimises shelf space by preventing slow-selling items from taking up valuable space and avoiding stock-outs of popular products.

Additionally, real-time AI-enabled monitoring tools will enhance the operational

efficiency of our convenience stores by notifying staff of cleaning requirements, predicting maintenance needs, and helping manage queues to ensure a smooth and pleasant customer experience.

What strategies is ADNOC Distribution implementing to expand its EV charging infrastructure in the UAE? What specific technologIes do you expect to enhance the customer experience and expedite charging times?

ADNOC Distribution is progressing with EV coverage nationwide, and we see ourselves as a key enabler for EV mobility in the coming years. We are well-positioned to achieve our operational objectives for 2028, aiming to increase the number of fast and super-fast EV charging points to at least 500.

By the end of this year, we expect our charging network to encompass between 150 and 200 fast and super-fast chargers, up from 53 at the end of 2023. It is essential for us to ensure that our charge point operator (CPO) business is efficient, seamless, and reliable for the consumer.

Our CPO plan involves electrifying all key highways in the UAE by building EV super hubs with fast and super-fast EV chargers. To offer reliable and convenient access to EV charge points, we integrate charging services with our smart app, ADNOC Wallet.

The app allows customers to manage their transactions, monitor their consumption, and access loyalty benefits. The roll-out of Plug & Charge is another step towards a digitally integrated, AI-enabled charging future, with ADNOC Distribution leading the way for the future of mobility in the UAE and beyond.

As an innovator in the PC industry, we take pride in being the first to introduce the AI-powered PC. Our AI-powered PCs, such as the latest Expertbook P5, are the future.”

ASUS Business: Powering a connected future

Madeleine Hung, regional director of ASUS Business for Western Europe and EMEA, brings valuable insights into the brand’s showcase at GITEX Global and shares how the company is empowering users

At GITEX Global 2024, ASUS unveiled groundbreaking solutions tailored to meet the demands of modern professionals and educators. With a focus on smarter, more efficient tools, ASUS Business is spotlighting the role of AI in transforming work, learning, and connectivity. Leading this initiative, Madeleine Hung, regional director of ASUS Business for Western Europe and EMEA, brings valuable insights into the brand’s advancements. Under her guidance, ASUS Business is positioned as a driving force in the evolving landscape of technology, highlighting innovations that empower users while underscoring AI’s potential to reshape industries and drive a smarter, more connected future.

Tell us about ASUS’ participation at GITEX Global. How did it align with the overall company strategy?

We showcased our entire commercial series, including business laptops, education laptops, all-in-one devices and desktops at the event.

In 2024, ASUS Business launched an AI-powered PC (AIPC) equipped with an Intel CPU and support for Microsoft Copilot+.

The new offering enhances productivity and efficiency for workers, teachers and students alike.

Tell us more about the products you showcased at GITEX. What are the key differentiators and value propositions for these offerings? Earlier this year, we launched our

ExpertBook P series. The first product in this lineup features an AI-enabled Intel CPU, which offers not only exceptional processing power but also advanced functionalities. It includes AI-powered tools like AI Expert Meet, which provides realtime meeting transcription, translation, and watermarks to enhance security.

Beyond performance, we are focused on increasing productivity for workers and teachers while ensuring our products are durable and secure. Our devices come with advanced security features, such as a built-in TPM module and self-healing BIOS, which are not commonly found in competing products at the same level.

These robust solutions are tailored for commercial use and are especially beneficial in regions where such technology can help educators enhance their productivity and impact.

How is ASUS Business integrating AI into its products and services to enhance customer experiences and drive business value?

AI is undoubtedly one of the most important topics right now. As an innovator in the PC industry, we take pride in being the first to introduce the AI-powered PC. Our AI-powered PCs, such as the latest Expertbook P5, are the future. The PC significantly boost productivity in the workplace by incorporating features such as AI ExpertMeet.

AI-powered Expertbook P5 offers enhanced meeting experiences with realtime transcription, language translation, and secure watermarks. It also boosts

AI task efficiency, allowing for smoother multitasking. Its durable design, long battery life, and robust security features make it ideal for professionals needing performance, mobility, and data protection.

Furthermore, ASUS Business is committed to revolutionising education with AI-powered laptops. Our AI-powered devices personalise learning, automate tasks and enable real-time assessments while enhancing student performance and streamlining school administration.

AI technology will shape the future of computing over the next five to 10 years, driving new levels of performance and capability. This innovative technology will continue to be a key focus across sectors.

Governments are already leveraging AI-powered servers and workstations, and in enterprises and schools, AI-powered PCs with new applications will drive productivity and innovation. While 2025 may see many proof-of-concept initiatives, AI will gain momentum and become a critical component for the industry in the years ahead.

How is ASUS Business responding to the increasing demand for sustainable and environmentally friendly technology products?

We are deeply committed to product design that prioritises the use of sustainable materials, respects human rights, and adheres to the highest standards of packaging. All the laptops we are showcasing meet EPIC Gold certification and are TCO compliant, demonstrating our commitment to excellence.

Furthermore, ASUS is actively working on a carbon emission offset policy. We are developing solutions that will be launched in the coming year, aimed at helping enterprises and governments meet their sustainability goals and effectively offset their carbon emissions.

ASUS Business excels as a leading business solution vendor by prioritising both exceptional products and efficient, comprehensive solutions. Our recent establishment of a dedicated AI department in the UAE positions us to integrate cutting-edge AI applications, providing our clients with innovative and customised solutions that meet their specific needs.

Bringing positive change

DAVID AURIAU, CO-FOUNDER AND CEO OF POSITIVE ZERO, SHARES INSIGHTS ON THE COMPANY’S PARTNERSHIPS WITH INDUSTRY LEADERS LIKE BLACKROCK, DP WORLD AND AL JALILA FOUNDATION, THE CHALLENGES OF REGIONAL EXPANSION, AND THE FUTURE OF RENEWABLE ENERGY IN THE REGION

BY NEESHA SALIAN

Tell us about your partnership with BlackRock and how that has boosted growth and expansion.

BlackRock is the world’s largest asset manager and, as we announced in December, through a diversified infrastructure fund, it is investing up to $400m. BlackRock has a strong track record and experience in energy and power infrastructure investments, as well as strong ties with the region over many years, so it was a boost for Positive Zero, underlining the strength of our decarbonisation model and strategic approach.

We have expanded our remit regionally, including several partnerships in Saudi Arabia to develop and finance commercial

and industrial solar power solutions, a new renewable energy project with the Royal University for Women Bahrain, and our latest announcement to provide an endto-end sustainability roadmap for Al Jalila Foundation. Ultimately, leaders within the region are aligned towards net-zero targets and we are well-positioned to deliver the solutions required across many sectors.

How do Positive Zero’s end-to-end sustainability solutions support clients in building a clean energy future? Firstly, we help businesses understand how they can decarbonise their operations to cut emissions, meet sustainability targets and crucially cut operating costs. Our

approach encompasses solutions from our three verticals, including generation, efficiency and mobility. For generation, we help many commercial and industrial operations to generate their own power through our distributed solar company SirajPower. We are the largest provider of decentralised solar infrastructure in the Middle East, operating across more than 700 facilities. For efficiency, improving energy consumption within any business is paramount, so we help to monitor and track energy usage across facilities and assets. From this, we can make intelligent decisions, with realtime data, to plan and optimise energy management and potentially upgrade or retrofit assets. Positive Zero’s business Taka

POSITIVE ZERO IS HELPING BUSINESSES TAKE CHARGE OF THEIR ENERGY FUTURE AND THE SOLUTIONS THAT WE PROVIDE ARE SECTOR AGNOSTIC.”

Solutions takes care of energy efficiency services. The third pillar of our decarbonisation solutions is the electrification of fleet and charging infrastructure, including our innovative on-demand energy solution, which we deliver through HYPR. We support businesses in identifying and adopting clean mobility options across their business. In addition, remote operations such as construction sites often require energy, so we provide clean, on-demand renewable battery solutions to replace noisy and fume-emitting diesel generators. Across our three business verticals of efficiency, generation and mobility, we support our clients in adopting cleaner energy solutions, reducing emissions and protecting the environment. Importantly, we also provide financing, through the introduction of a decarbonisation-as-a-service model. No upfront costs are required from our clients, which only pay for the energy services used. This is a real game changer for many businesses who want to decarbonise as we take care of the capital expenditure, so there is no upfront investment required.

Can you share more details about your recent partnerships with DP World, RUW and Al Jalila?  How do these collaborations align with your company’s overall vision and goals?

Positive Zero is helping businesses take charge of their energy future and the solutions that we provide are sector agnostic. The common thread is that we form longterm, scalable partnerships that deliver substantial cost and emissions savings. We want to empower a new energy economy and to do this we have to make the decarbonisation process fast, simple and profitable. Of course, each business has different requirements. For example, our partnership with Royal University for Women Bahrain entails the installation and operation of a solar carport and enables us to showcase to the next generation the importance of preserving our planet. For Al Jalila Foundation, following the successful implementation of a solar rooftop and carport, we have now expanded our partnership into a full

decarbonisation roadmap, including energy efficiency and mobility solutions. DP World is a long-standing client and we currently have extensive operating solar assets at the port, which we are adding to, as well as supporting more extensive decarbonisation of operations at the port in line with their ambition of reaching net zero by 2050.

Are there any upcoming deals with prominent government or private sector entities that you can reveal? How will these deals impact the renewable energy landscape in the region?

There is an ocean of opportunity for businesses of all shapes and sizes to decarbonise their operations. Governments are investing in large utility scale renewable energy projects, while we operate at the commercial and industrial scale. It’s important to understand that the government and private sector are inherently connected through the implementation of country visions and regulations. There are different regulatory frameworks in different markets for decentralised power infrastructure and we must adhere to them. Our approach fully supports net zro strategies and there is very positive momentum towards the adoption of renewable energy solutions. We have an array of new partnerships and the expansion of existing agreements in the pipeline, covering sectors as diverse as healthcare, logistics, aviation, banking and education.

How crucial are government collaborations to your business strategy?

Government collaborations are essential for achieving long-term sustainability goals. They provide a stable and supportive framework within which businesses like ours can operate and innovate.

What are your plans for expanding operations in the Middle East and North Africa region. Which countries or markets are you targeting next, and why?

At the current time, our core markets are the UAE, Saudi Arabia, Bahrain and Oman. There is such a big opportunity within

these areas, that we are concentrating our resources on offering a breadth of decarbonisation services in these countries.

What challenges have you faced during your regional expansion? Similarly, can you share the opportunities in the renewable energy sector here?

Navigating different regulatory landscapes and policy frameworks across the UAE, Saudi Arabia, Bahrain, and Oman has been a significant challenge. Each country has its own set of regulations, approval processes, and compliance requirements.

How do your current projects contribute to global sustainability efforts?

COP28 in the UAE brought the world’s leaders to the region to discuss how to tackle the biggest environmental and climate challenges. It is clear that progress has been too slow, so the outcomes encouraged governments at a global scale to triple renewable energy capacity and double energy efficiency improvements by 2030. As a decarbonisation company, Positive Zero is supporting the outcomes of COP28 and helping businesses across the region to transition to cleaner, sustainable energy. Through our projects, more than 250,000 tons of carbon dioxide emissions are prevented from entering the atmosphere every year - and that figure is growing with each new project that we sign. To put this into perspective, that’s like removing nearly 55,000 cars from the road, or planting four million trees.

David Auriau

What technological innovations is your company implementing to advance renewable energy solutions?

Each of our business verticals has proprietary processes and technology. One of the technological developments we are most proud of is our platform TakaUnify, which was developed in-house and provides visibility and guidance for users on achieving an energy efficient facility. This pioneering technology is a crucial tool in running facilities in the most sustainable way. Similarly, HYPR Energy (solar-charged, on-demand batteries) uses proprietary technology to predict demand and reduce operational costs across sites.

How do regional policies and regulations support or hinder your operations?

Many governments in the region have shown a strong commitment to sustainability through national strategies like the UAE’s Green Agenda 2030 and Net Zero Strategy 2050, Saudi Vision 2030 and Saudi Green Initiative (SGI). These frameworks provide clear goals and support for renewable energy initiatives, which align with our mission and facilitate our operations.

How do you see the renewable energy sector evolving in the next decade, and what role will your company play in that evolution?

The Middle East is transitioning towards renewable energy, underpinned by strong government support. The region is a world leader in oil and gas production, and there is every reason to think that it can be a global leader in renewable energy, particularly

TWO YEARS

MANY GOVERNMENTS IN THE REGION HAVE SHOWN A STRONG COMMITMENT TO SUSTAINABILITY THROUGH NATIONAL STRATEGIES LIKE THE UAE’S GREEN AGENDA 2030 AND NET ZERO STRATEGY 2050, SAUDI VISION 2030 AND SAUDI GREEN INITIATIVE (SGI). THESE FRAMEWORKS PROVIDE CLEAR GOALS AND SUPPORT FOR RENEWABLE ENERGY INITIATIVES, WHICH ALIGN WITH OUR MISSION AND FACILITATE OUR OPERATIONS.”

solar and wind power. We predict a future where the Middle East has integrated, connected and sustainable clean energy, and we believe that decentralised energy infrastructure will play a key part.

Over the next decade, governments and the private sector will accelerate investment in renewable energy generation, efficiency solutions and the electrification of transport and mobility. We operate across all of these areas, so we are highly optimistic that we will play a significant role in the years ahead.

Can you share examples of how your energy efficiency projects have significantly reduced operational costs for businesses?

Our energy efficiency arm, Taka Solutions helps facilities to reduce energy consumption and make cost savings on their bills. One example where we helped a business reduce operational costs was Raffles Dubai.

The objectives were to decrease expenditure on utilities, increase efficiency and reduce the carbon footprint of the hotel facility. We implemented a six-year shared savings energy performance solution, in which we covered all engineering, equipment and capital expenses. This included the deployment of energy efficiency measures (EEMs) such as lighting retrofit, air conditioning and ventilation, and the adoption of TakaUnify’s smart dashboard. In just two years of operations, we have helped save more than 2.3million kWh equivalent to a 51 per cent reduction in energy costsin the coming years the business will continue to make even more savings. Another example was the first cooling-as-a-service (CaaS) solution in the UAE, with a Green Coast Real Estate residential project. We took on the responsibility for the chiller plant expenditure, operations and maintenance, while Green Coast Real Estate committed to a 15-year agreement where they pay for the actual supply and consumption. Over the course of the agreement, Green Coast Real Estate will benefit from Dhs3m in capex and opex savings. These two examples are from very different sectors, with different requirements, but demonstrate the massive potential financial benefits for energy efficiency solutions. We have recently seen an update to the Dubai Demand Side Management Strategy, which broadly encourages all businesses to look at ways to enhance efficiency. We think businesses should see this as an opportunity to not only become more sustainable, but to also create huge cost savings for their facilities.

Building a tech empire: Jumbo’s CEO on 50 years of growth

Vikas Chadha, CEO of Jumbo Electronics, says the company has evolved from a retail pioneer into a market leader, driven by its commitment to innovation, customer satisfaction, and strategic partnerships

The UAE’s consumer electronics market has witnessed substantial growth in recent years, and is poised for continued expansion, driven by a strong economy, increasing disposable incomes, rapid technological advancements, and supportive government initiatives that promote digital innovation.

With a half-century of operations in the UAE, Jumbo Group is a key player in the country’s evolving consumer electronics market. Since its founding in 1974, the conglomerate has established itself as a leader in the country’s consumer electronics and IT sectors, growing alongside the nation’s ambitions and evolving economy.

Over the past five decades, Jumbo has reached significant milestones, expanded into new business areas, and embraced digital transformation to remain at the forefront of retail, e-commerce, and enterprise solutions.

Today, it stands as a trusted partner for global brands, a top retailer, and a major distributor in the region as it aligns its business strategy with the UAE’s national vision for the future.

Can you share some key milestones that have defined the company’s journey and contributed to its success?

Founded in 1974, Jumbo Group has reached several key milestones, starting with the introduction of top-tier Sony products to the UAE. It played a pivotal role in the launch of the PlayStation, quickly becoming a favourite among gamers. A significant expansion came with the opening of its flagship multi-brand store at the Mall of the Emirates.

Jumbo entered the telecommunications sector in 2000 via a strategic partnership with du. By 2001, it expanded into B2B services, establishing itself as a leading system integrator. The company further diversified in 2008 by introducing Dyson products, marking its entry into the beauty technology segment.

The launch of Jumbo Serve and Jumbo Logistics in 2011 transformed the company into a comprehensive one-stop shop for consumer durable brands. With a focus on digital transformation, Jumbo expanded into e-commerce by launching www.jumbo.ae in 2015, extending its market reach and enhancing customer access through online channels.

What key factors have fueled Jumbo’s growth and established it as the UAE’s leading distributor and retailer of IT and consumer electronics?

Jumbo’s emergence as a leading distributor and retailer of IT and consumer electronics can be attributed to the strategic vision of its founder, Shri Manohar Rajaram Chhabria.

The company expanded market access for partner brands through a blend of online platforms, retail stores, and trading partnerships. Its robust logistics infrastructure, from efficient inventory management to last-mile delivery, ensured seamless operations and reliability.

the retail front, Jumbo grew its store network and broadened its product offerings, incorporating smart home technologies to meet evolving consumer demands. The launch of its e-commerce platform further elevated the shopping experience, especially during the pandemic, by offering convenient home delivery and parking pick-up services.

How does Jumbo plan to evolve and adapt to the changing market landscape in the next five years?

Jumbo is committed to leading the market through a strategic focus on five key areas: Expanding our reach: We will continue to introduce renowned brands to our network, expand our product offerings, and reach a broader customer base.

Elevating the online shopping experience: Our e-commerce platform will be enhanced to deliver a seamless online shopping experience that mirrors

the quality and convenience of our physical stores.

Driving enterprise growth: We will expand our managed IT services, offering comprehensive solutions tailored to our clients’ specific needs. Additionally, we will broaden our range of services for businesses, empowering them to thrive in the digital age.

Delivering exceptional service: Jumbo Serve will position us as a top service provider in the electronics sector. We will offer accessible, high-quality support to both individual consumers and businesses.

Partnering for success: We will manage brand stores for our partners, ensuring smooth operations and consistent customer experiences.

Tell us in what ways the UAE’s leadership and vision have influenced Jumbo’s growth and success. Jumbo’s success is deeply connected to the UAE’s visionary leadership and progressive economic policies. The company’s strategies align closely with national objectives, such as the Dubai Economic Agenda (D33) and UAE Centennial 2071, driving its expansion into areas like 3D printing, enterprise solutions, and e-commerce. By embracing innovation, Jumbo has positioned itself at the forefront of the tech industry, supporting the UAE’s vision for a diversified and digital economy.

As the UAE emphasises sustainability and smart technologies, Jumbo invests in energy-efficient products and services that foster connectivity and business growth. The alignment with the nation’s strategic vision continues to propel Jumbo forward, ensuring its role as a key player in the UAE’s digital transformation and longterm economic development.

Vikas Chadha

How Dell is driving AI innovation, cybersecurity and sustainability

Walid Yehia, managing director - Gulf, at Dell Technologies, shares insights on Dell’s role in transforming industries and meeting the evolving needs of enterprises in the UAE and beyond

At GITEX Global 2024, Dell Technologies took centre stage, showcasing cutting-edge solutions across artificial intelligence (AI), multi-cloud, cybersecurity and digital workplace technologies.

In this conversation with Gulf Business, Walid Yehia, managing director - Gulf, at Dell Technologies, shares insights on Dell’s presence at GITEX Global and the company’s role in transforming industries and meeting the evolving needs of enterprises in the UAE and beyond.

Yehia also discusses Dell’s AI initiatives, challenges faced by enterprises and the critical role of cybersecurity and sustainability in today’s tech landscape.

How has GITEX Global evolved in your view?

GITEX has become a platform you cannot miss. It’s more than an exhibition; it’s like a festival that connects you with stakeholders across the industry. The event gets better each year, and the focus it receives from industry players highlights the value it brings. For Dell, GITEX is an essential venue to showcase our innovations and collaborate closely with partners and clients.

Dell’s presence this year at GITEX Global focused on AI and innovation. Tell us about the technologies you showcased and their impact on enterprise operations.

At Dell, we see technology as a means to improve human life and drive progress. Our strategy supports digital transformation by offering comprehensive solutions from edge to data centres and cloud environments, giving clients flexibility without vendor lock-in. This year, we’re focusing on AI, multi-cloud, cybersecurity, and digital workplaces, with innovations in each area. Additionally, our stand featured the Dell ecosystem, including local and global partners, to offer customers an end-to-end solution that mitigates risk and reduces the cost of complex implementations.

Recent research from Dell shows that 58 per cent of enterprises are adopting Gen AI. What challenges do you see for these companies as they embrace AI?

There are both technical and non-technical challenges. Data quality is critical, as inaccurate or outdated data can hinder AI effectiveness. Talent and skills in AI are also lacking, and some organisations need a welldefined strategy to ensure AI efforts align with business objectives. AI adoption requires a culture of innovation that spans the entire organisation, which remains a challenge globally. Additionally, regulatory challenges, such as GPU export controls, can create logistical hurdles, but we’re working on solutions.

Where does Dell step in to support enterprises with these challenges, particularly in building AI strategies and infrastructure?

Dell helps enterprises accelerate their AI journey with a holistic approach, from data and infrastructure to services and skills. We offer a complete AI ecosystem that shortens time-to-market and mitigates risks. Our role includes advising on strategic use cases to drive specific business outcomes. Although we’re not a management consultancy, we partner with consulting firms to provide clients with a seamless experience from business-level strategy to tech deployment.

Cybersecurity is a growing concern. How is Dell leveraging AI to enhance cyber resilience for its clients?

Cybersecurity is crucial for any organisation today, and we’re investing in AI-driven solutions that enhance resilience against cyber threats. AI enables quicker detection and response to security incidents, which is vital in today’s landscape. Security goes beyond AI, however, Dell leads in developing zero-trust frameworks, including Project FORT, a consortium initiative for the US government. Our R&D investments are advancing cybersecurity solutions, and we’re looking to make these innovations available globally.

As sustainability becomes integral to business operations, how is Dell ensuring its tech supports environmental goals?

Sustainability is at the core of our strategy. With AI driving up power demand, efficient data centre solutions are essential. Dell aims to reduce carbon emissions significantly by 2030, and we’re developing platforms that use less power and operate more sustainably. Sustainable technology is not only environmentally beneficial but also economically essential in today’s highenergy-demand landscape.

Dell has also emphasised bridging the talent gap. Could you share some of Dell’s initiatives to develop local talent and skills in emerging technologies?

Talent development is a priority for Dell, and we work with both government and private sector partners to create tailored educational programs. For example, we trained 900 students in AI in collaboration with the UAE Ministry of AI, and we continue to develop cyber and AI skills through various programmes for different audiences, from technical experts to business leaders.

How do you envision the AI landscape evolving over the next three to five years?

I view AI as a transformative technology with incredible potential. We’re in the early stages, like looking at the moon and envisioning a way to reach it. AI has the potential to drive unprecedented economic opportunities and quality of life improvements, and Dell will continue leading in AI innovations to support this transformation responsibly.

In your view, what gives Dell its competitive edge as a technology leader?

Dell’s edge lies in our strategic focus on R&D, allowing us to innovate at a pace few can match. Additionally, our strong company culture and the commitment to addressing complex challenges — whether in AI, cybersecurity, or sustainability — set us apart.

Walid Yehia

Lifestyle

Crafting elegance

In Dubai’s vibrant luxury market, King’s Traders has seamlessly fused tradition and modernity, introducing a new era of bespoke menswear through its exclusive partnership with 100 Hands p.57

“Our approach is highly individualised. We place the client at the centre, with a team of professionals orbiting around them, including internal medicine, psychiatry, and reverseageing specialists.”

Eduardo Greghi, Founder and chairman, The Kusnacht Practice

BREITLING SUPEROCEAN HERITAGE

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Featuring the iconic triangular-shaped hands as well as a unidirectional bezel with a polished ceramic ring, the Superocean Heritage is an elegant looking diver’s watch. Available in a variety of sizes and materials including stainless steel and 18k red gold, the Superocean Heritage B20 Automatic features a range of black, blue or green dials. This Superocean Heritage is powered by the Breitling Manufacture Caliber B20, a COSCcertified chronometer.

PRESERVING THE PAST, SHAPING THE FUTURE

NICHOLAS BIEBUYCK, TAG HEUER’S HERITAGE DIRECTOR, SHARES STORIES FROM THE BRAND’S RICH HISTORY, DISCUSSING THE CHALLENGES OF SAFEGUARDING ITS HERITAGE AND OFFERING INSIGHTS INTO THE EVOLVING LANDSCAPE OF LUXURY TIMEPIECES

BY NEESHA SALIAN

Nicholas Biebuyck’s journey from auction houses to TAG Heuer’s heritage director has given him a unique perspective on blending tradition with innovation. Here, he delves into how his passion for the brand, paired with his vast experience in curating vintage timepieces, has helped him preserve TAG Heuer’s illustrious legacy while contributing to its modern identity.

Your background is rooted in auction houses and vintage timepieces. How did your previous experience shape your approach as TAG Heuer’s heritage director, especially in curating the brand’s rich history?

I’ve been an enthusiast of TAG Heuer since I was a teenager so I have a good understanding of what makes the brand unique amongst its competitors. Combined with my experience in researching watches for

auction, curating sales, and the publishing of catalogues and magazines, it helps me to be able to distil the incredible history of the company into something which is accessible to as many people as possible.

As a keeper of the brand’s heritage, what are some of the most compelling milestones and stories you can share about the brand.

For me the major moments are of course the birth of the brand in 1860 by Edouard Heuer, the launch of the Mikrograph in 1916, the first stopwatch capable of recording 1/100th of a second, the decision to focus on chronograph watches in the 1950s, the launch of the iconic collections in the 1960s under Jack Heuer, the partnership with Ferrari beginning in 1971, the acquisition by TAG group in 1986, becoming the Official Timekeeper of Formula 1 in 1992, the acquisition by LVMH in 2000, and the Porsche partnership in 2021.

TAG Heuer’s archive and heritage span over a century, marked by a blend of tradition and innovation. What are some of the unique challenges you face in preserving this legacy while also participating in contemporary product development?

The biggest challenge is that we no longer have the original factory records as they were lost in the 1980s, so it is really about rebuilding the information from the various authoritative sources we have, speaking to those who were present and are still with us today and coming up with a strategy on how to preserve and present what is being created today.

You’ve been instrumental in initiatives like digitising TAG Heuer’s vast historical assets. Could you share more about the significance of this digitisation project and how it impacts both internal operations and the brand’s global outreach? It was one of the first major projects we

embarked on when myself, and my Heritage Manager Céline Caron, took over the department in 2021. We have been lucky to have an amazing partner for the project, Tribvn imaging who work with many maisons in the group. They have been able to share best practices and support us in the creation of the digital archive that has been invaluable in helping us with research.

TAG Heuer’s modern identity consists of two distinct strands: avant-garde pieces like the V4 and Plasma and vintageinspired collections like Monaco and Carrera. How do you ensure these seemingly contrasting directions form a cohesive brand identity?

We are not a company that will simply laser scan an original watch and make some new ones on CNC machines. We always want to pay respect to our incredible history, using the very best codes as ingredients to create something new that uses the best technologies for modern enthusiasts. While projects such as Monaco Rattrapante and the glassbox Carrera look very

different, there is the same philosophies behind them.

You’ve been closely involved in the development of new releases, many of which draw inspiration from vintage models. How does the process of revisiting historical references for modern collections, like the Carrera Chronograph inspired by the 1960s Heuer Ref. 7753 SN, balance heritage with contemporary expectations?

For a project like Monaco Rattrapante, the first discussion was how would the Monaco look today if it had continuously evolved over its more than 50 years of history like the Porsche 911 has done. The collection was actually discontinued from 1974 until 1997 and when it relaunched it was a completely new design with little inspiration from the past. What we wanted to preserve was the DNA of the model traced back to the beginning, but to make a watch without compromises when it came to innovation. There are made details you can see which are from the first reference launched in 1969, such as the top crystal, sapphire case back, and overall form, but they are subtle and do not distract from the incredible savoir-faire on display in the watch.

In your view, how important is TAG Heuer’s legacy in shaping future designs, and how do you manage to keep the brand relevant while celebrating its history?

Heritage is something of a double-edged sword in that it can provide incredible sources of inspiration, but at the same time

Nicholas Biebuyck

We are fortunate as a brand to have a great story to tell around our connection to the Middle East, thanks to our ownership by Techniques d’Avant Garde group from 1986 to 2000.”

has to be respected and protected. For new brands, they can simply do whatever they want, but often the stories and details lack substance. As you can see we are very much focused on honouring our icons, but don’t want to simply look back and be stuck in the past. We can see collectors today want something contemporary, and the heritage driven design era in watch industry is less relevant now than it was a few years ago with most customers.

The Middle Eastern luxury market has been steadily growing. How does TAG Heuer’s heritage resonate with collectors in the region, and what role does historical storytelling play in building a deeper connection with TAG Heuer’s Middle Eastern clientele?

We are fortunate as a brand to have a great story to tell around our connection to the Middle East, thanks to our ownership by Techniques d’Avant Garde group from 1986 to 2000. As a conglomerate that had been founded by Syrian-born Akram Ojjeh who built the business in Saudi Arabia before global expansion, we can really say that we would not be the company we are today without this chapter in our history. While we have not communicated the story so clearly in the past, it is one we want to share and reinforce going forward.

Following the success of the book

TAG Heuer Carrera: The Race Never Stops, is there another book planned. If yes, tell us about it. We have a number of ideas for upcoming publications on the brand history but are still in the early stages of planning. It is easy to imagine titles on the other collections, particularly Monaco, and books to share our amazing brand history, especially in motorsport.

Exhibitions are an important way of sharing TAG Heuer’s history globally. Tell us about some of the most significant exhibitions you’ve been involved in, and how they contribute to keeping the brand’s heritage alive for contemporary audiences?

We send around 500 watches a year from the museum collection all around the world, it is really a pleasure to be able to share these pieces with so many people. A few of the standout exhibitions this year have one that we presented in China in April, an event to celebrate Porsche in Switzerland in August, a focus on highend watchmaking in Dubai this month, one that we are preparing to take place in Brazil in November around Ayrton Senna, and a number of presentations that will take place in the US at the end of the year.

How would you translate Edouard Heuer’s vision for the TAG Heuer brand. How has it evolved over the years?

From the very inception of the brand innovation has been at the very heart of what we do for more than 160 years. This can be seen in Edouard’s utilisation of early patents in his products, the focus on accuracy and reliability from the birth of the company, all of which are still principles which guide us today.

TAG Heuer has had several iconic figures shape its journey over the years, from Jack Heuer to contemporary pioneers in design and technology. Who do you believe has had the most profound impact on the brand, and why?

For me it would have to be Jack Heuer as he completely reimagined the business and oversaw the launch of many iconic collections. Beyond that of course there is

Edouard Heuer for installing the foundations of the brand, and in the modern era we can see that Stephane Bianchi and Frédéric Arnault have reshaped the company into a more modern watch brand which will serve us well for the future.

As a seasoned collector, what advice would you give to new or experienced collectors regarding vintage TAG Heuer pieces? What should they consider in terms of value, design, and legacy?

We are lucky with vintage Heuer that there are so many accessible watches when we consider the price point. Automatic Carrera models, reference 1153, and Autavia models, reference 1163, can be had in good condition for CHF3,000 to 5,000, and even coveted manual wind models from the 1960s are still less than CHF10,000. The other great joy is that there is such a breadth of history, rarity and values, if you want to continue collecting within the world of vintage Heuer there are exceptional pieces that are between CHF50,000 and 200,000, such as the celebrated gold Carrera models, the Skipper reference 7754, the original black Monaco 74033N and the earliest Autavia references.

In an era where watches are often seen as investment assets, how do you navigate conversations with collectors about buying for passion versus profit?

For me it is quite simple, you have to buy what you like before considering any speculative returns that might be achieved in the future. We can see that the market is cooling for these tips of returns, so it is good to see more passion and consideration for the history and craftsmanship of watchmaking driving peoples’ decisionmaking processes.

NBA’S SLAM DUNK IN ABU DHABI

GEORGE AIVAZOGLOU, VP AND HEAD OF FAN ENGAGEMENT AND DIRECT-TO-CONSUMER AT NBA EUROPE AND MIDDLE EAST, SHARES HOW THE NBA’S EXPANSION INTO ABU DHABI IS DEEPENING CONNECTIONS WITH FANS ACROSS THE MIDDLE EAST

BY NEESHA SALIAN

Pics: Supplied

Since bringing the National Basketball Association (NBA) Abu Dhabi Games to the region in 2022 and witnessing a successful third season in October, the league has ignited unprecedented excitement for basketball in the UAE and beyond.

Spearheading these efforts, George Aivazoglou, VP and head of Fan Engagement and Direct-to-Consumer at NBA Europe and Middle East, discusses the NBA’s strategic focus on youth programmes, fan engagement, and digital innovation that’s driving record growth across the Middle East.

As participation rises and viewership soars, the league’s mission to make Abu Dhabi a regional basketball hub is creating lasting opportunities for fans and players alike, laying the foundation for the sport’s future in the region.

The NBA Abu Dhabi Games have rapidly become one of the marquee events on the league’s international calendar. What was the initial vision behind bringing these games to Abu Dhabi, and how have you seen that vision evolve since it’s the initial season?

When we brought the first NBA games to Abu Dhabi in 2022, our goal was to have them catalyse basketball’s continued growth in the UAE and throughout the Middle East, where the game has a century-long history.  The preseason games became the tentpole moment of our yearround efforts to engage fans and players across the region, including through youth development programming like the Junior NBA Abu Dhabi League, interactive fan events, visits by NBA players and legends, and more.

We hoped that these initiatives would inspire more young boys and girls to learn and play the game, and that’s exactly what’s happened.  We’re beyond impressed by the growing interest and participation we’re

George Aivazoglou

seeing and excited about the future of basketball and the NBA in the region.

The NBA’s presence in the Middle East has seen incredible growth in the region. What do you believe has been the driving force behind this surge in interest, and how is the NBA capitalising on this growing passion for basketball in the UAE and surrounding regions?

I think it’s due to many factors, including bringing the live NBA experience to Abu Dhabi through preseason games, but also everything we’re doing to engage fans and players at all levels on a year-round basis. Since the first games in 2022, basketball participation in the UAE has grown by 60 per cent, and in the Middle East by more than 50 per cent.

We’ll capitalise on this momentum by continuing to create more opportunities for youth to play the game and fans to engage with the league, whether that’s by expanding our Junior NBA Abu Dhabi League which has reached more than 11,000 boys and girls since we launched it in 2022, refurbishing community basketball courts in

“Last season, subscriptions to NBA League Pass, which is available in the Middle East through both the NBA App and Starzplay, grew by more than 30 per cent in the UAE and 25 per cent across the Middle East.”

collaboration with ADQ, creating localised, in-language content specifically geared to fans in the Middle East, and more.

On the business side, the NBA has seen a 33 per cent increase in League Pass subscriptions in the region since last season. How important is this digital engagement for the NBA’s long-term strategy in the Middle East, and what other innovative business initiatives are you looking to explore in this market?

Incredibly important.  Ninety-nine per cent of our fans will never attend an NBA game, so we have to do everything we can to make the excitement of NBA accessible to fans on the devices and platforms they use most at a time that is convenient for them, including through localised, in-language content and more than 40 weekend games that will air in primetime in the region this season on beIN SPORTS and NBA League Pass.

We’re encouraged by the growth we see from a social and digital media perspective.  Last season, subscriptions to NBA League Pass, which is available in the Middle East through both the NBA App and Starzplay, grew by more than 30 per cent in the UAE and 25 per cent across the Middle East, while the 2024 finals were the mostwatched finals ever in the Middle East on League Pass.  Our NBA Arabic social media channels across Instagram and X had the most-viewed season ever in the region for a professional US sports league.

We know that to continue to engage, serve and grow our international fanbase, we need to invest much of our energy into social and digital media, which is often our passionate international fanbase’s main touchpoint with the league.  Moving forward, I think you’ll continue to see us try to find new and creative ways to engage fans in the region through those channels, including by working more with local partners.

Beyond just the games themselves, events like NBA District and Fan Appreciation Day offer fans unique experiences. How do these off-court activations contribute to building a deeper connection between the NBA and its Middle Eastern audience, both from a fan and business perspective? Events like NBA District and NBA Fan Appreciation Day provide additional touchpoints for fans who may or may not plan to

attend the games as well as those who are interested in engaging with the NBA in different ways.

This year, thousands of fans attended NBA District over four days, where they were able to interact with legends of the game like Derek Fisher and Kevin Garnett, participate in immersive experiences and partner activations, play basketball on a full-size NBA court, purchase limited-edition NBA merchandise, and more.  And at NBA Fan Appreciation Day, fans were able to see Celtics and Nuggets players participate in a variety of on-court competitions interact with football legends like Thierry Henry and Ronaldinho and watch a live performance by US rap artist 2 Chainz.  These types of events have something for everyone, whether you’re a casual or hardcore fan of the game, or whether you’re more interested in the convergence of the NBA and pop culture.  So, events like this will continue to be an important part of everything we do to grow the game and our fanbase in the region.

With the continued success of the Abu Dhabi Games, do you foresee the possibility of expanding the NBA’s

“We want to make it as easy as possible to be a fan of the NBA and provide as many opportunities as possible for young players in the region to learn and play the game.”

footprint in the Middle East with more regular-season games or perhaps other global events being hosted in the region? How does the NBA view the potential for the Middle East to become a hub for global basketball?

We want to play preseason games in Abu Dhabi for many years to come. There’s no shortage of countries and regions around the world that want to host NBA games, but we can only play a limited number of these games each season due to the density of our

schedule and the time it takes for teams to travel internationally.  But we do see Abu Dhabi becoming a hub for basketball, not just because of the NBA’s efforts but also because of initiatives like the USA Basketball Showcase that has been held there each of the past two years, the fact that the FIBA Basketball World Cup will be held in neighbouring Doha in 2027, and more.

Looking ahead, what are the NBA’s goals in the Middle East, not only in terms of increasing fan engagement but also in contributing to the development of local basketball talent and infrastructure, especially for young players in the region?

Enhancing and expanding youth basketball programming is core to our vision and efforts in the region.  We want to make it as easy as possible to be a fan of the NBA and provide as many opportunities as possible for young players in the region to learn and play the game.

Basketball is already the second most popular team sport in the Middle East, and our goal is to build on the incredible momentum we’re seeing in the years to come.

How Ericsson is fostering GCC’s AI-driven innovation

ERICSSON’S VICE PRESIDENT AND HEAD OF GCC AT ERICSSON MIDDLE EAST & AFRICA SAYS ERICSSON IS INVESTING IN R&D, AI, AND ENTERPRISE SOLUTIONS TO SUPPORT THE REGION’S AMBITIOUS DIGITAL TRANSFORMATION GOALS

What innovative technologies did Ericsson showcase at GITEX Global this year? How do you see these advancements impacting the future of the energy sector?

The first thing to understand is that every AI-driven use case you see – whether it’s drones flying, connected cars, or wireless applications – relies on a solid network foundation. That foundation is a 5G network, where Ericsson holds a leadership position in technology.

The starting point is rolling out the network, which brings higher speeds. For example, Fixed Wireless Access (FWA) offers speeds comparable to fibre networks without needing physical cables. This phase has already progressed well, and we are entering the next stage: private networks.

To simplify, a private network offers greater security, lower latency, and better adaptability for AI use cases. This is where Ericsson plays a key role – we provide the foundation that allows others to develop their use cases on top of our technology.

Ericsson integrates its AI-powered use cases into the system. For instance, in energy management, our network can automatically shut down sites during offpeak hours to optimise efficiency. We also use an AI-driven uplink booster. Imagine you are video calling your family, and the image quality drops – our AI will adjust the network in real time based on your subscription, ensuring better image quality.

While we provide the network infrastructure, other players develop use cases such as drone monitoring, agriculture solutions, and water conservation. This highlights the importance of an ecosystem—no single player can do everything. Collaboration across different sectors is essential for success.

How does Ericsson envision its role in shaping the future of technology, particularly in the Middle East and North Africa region?

Given the GCC region’s tech advancements,

we need to align with National Visions, such as the UAE’s Vision 2031 and Saudi Arabia’s Vision 2030. The ambitions we have seen across the region are mind-blowing—they are far ahead, and we must keep up.

Currently, our discussions with regional authorities focus on how we can access the industries/ sectors that the government is targeting and engage with technology partners through our private networks. However, it’s not about building all use cases ourselves – that’s not the point. Our role is to lay the foundation, generate ideas, and practice self-leadership, but ultimately, this must happen within an ecosystem where we work together.

We partnered with Vodafone in May to explore potential collaborations on corporate social responsibility initiatives in Oman. Similarly, we upgraded the company’s core network applications and cloud infrastructure to enable the deployment of 5G standalone and 5G services.

Ericsson extended its MoU with Zain Group to boost the joint sustainability initiatives aimed at building more energyefficient networks.

The challenge we foresee in the coming year is ensuring greater collaboration. So far, many stakeholders have been working independently, but true success requires seamless connectivity across vendors, networks, and system integrators. With these pieces working together, deploying AI use cases in the network will be effective.

Our focus now is on fostering robust collaboration. In our meetings, we are exploring how to align the entire ecosystem to operate in cadence, ensuring that all parts – technology, networks, and partners – work harmoniously to drive forward the vision we aim to achieve.

How is Ericsson integrating AI into its products and services to enhance customer experiences and drive business value?

Following the core upgrade in Oman, we’re

seeing the next wave of investments across the UAE, Oman and Bahrain. This reflects the continued trust customers have in AI, and we are beginning to witness real momentum.

Initially, the focus was on enhanced mobile broadband and FWA. Now, we are moving toward private networks, and once these are fully implemented, all the possibilities we’ve discussed will become reality. The pace of change is accelerating. When we compare this year to the previous one, it feels like two completely different landscapes. Things are evolving quickly, and the future is unfolding faster than we ever.

What are Ericsson’s predictions for the future of the IT industry, and how is the company positioning itself to capitalise on these trends?

Ericsson is heavily investing in R&D, AI, the Internet of Things, and enterprise solutions to ensure that we have the network, products, and service portfolio ready to support the visions of the GCC countries. From there, imagination becomes the only limit. I wouldn’t want to speculate too much on the future, as the ambitions are vast, but we are excited to be here as a company.

This is an incredible opportunity. The UAE is a highly ambitious country, investing significantly in 5G and expanding spectrum to meet growing demand. As the country continues to develop, they are leveraging AI, automation, and enterprise solutions to drive progress, and we are proud to play a role in that journey.

Nicolas Blixell

THE ULTIMATE RETREAT

A HAVEN FOR THE WELL-HEELED AND AFFLUENT, INCLUDING A GROWING CLIENTELE FROM THE MIDDLE EAST, THE KUSNACHT PRACTICE IS MORE THAN JUST A WELLNESS CENTRE; IT’S AN EXCLUSIVE SANCTUARY WHERE YOU CAN UNWIND, RECHARGE AND EMERGE REVITALISED

BY NEESHA SALIAN

From the meticulously personalised BIO-R Female Health Blueprint to the restorative Leaders Retreat, The Kusnacht Practice (TKP) continues to redefine luxury wellness for a discerning global clientele. It’s a place where the world’s wealthiest, from royalty to business titans, find not only rejuvenation but also a pathway to longlasting vitality and balance – all in an

ultra-private and luxurious setting. Set against the calming shores of Lake Zurich, TKP is recognised globally for its dedication to highly personalised care. With treatment plans starting at $130,000, TKP provides private villa accommodations and round-the-clock care from a dedicated team of over 10 specialists, who deliver TKP’s signature BIO-R age-delaying programme, personalised somatic/internal

medicine, as well as psychiatric and psychotherapeutic treatments.

Each client’s journey – which may range from two to eight weeks or more – is supported by an interdisciplinary team, combining a unique blend of medical and therapeutic treatments, including advanced biomolecular restoration, psychiatric care, and personalised wellness programmes.

Pics: Supplied

A BESPOKE APPROACH TO HOLISTIC HEALING

As Eduardo Greghi, TKP’s founder and chairman, explains, “Our approach is entirely client-focused. What started in 2011 with a single patient has grown into a multifaceted programme by listening closely to what our clients truly need. Our clients come to us because where others stop, we begin.”

Originally specialising in rehab and psychiatry, TKP has expanded to cover comprehensive medical care, nutrition, and even reverse-ageing medicine. This tailored approach means clients receive one-on-one attention from experts in various medical fields, from psychiatry to internal medicine, all within the plush comforts of a private luxury villa.

Greghi says, “Our approach is highly individualised. We place the client at the centre, with a team of professionals orbiting around them, including internal medicine, psychiatry, and reverse-ageing specialists. Each client has a dedicated doctor from each department, and the entire treatment is coordinated to meet their specific needs. We also allow clients to bring their partners and even children, which is unique in our field. This helps maintain a sense of normalcy and family life while undergoing treatment. Our hospitality is designed to make clients feel at home, with villas spread across beautiful villages around Lake Zurich and Geneva, complete with tailored services like transportation, nannies, and chefs. By addressing both the body and mind with tailored treatments, including reverse-ageing medicine, we help clients restore balance and find meaning in their lives. Our approach is not just about immediate relief but about sustainable, long-term change.”

One of TKP’s new offerings is the BIO-R Female Health Blueprint, a two-week

intensive programme that addresses both internal health and outward signs of ageing. For those with limited time, the Game Changer Stay offers a two-to-three-week rejuvenation programme that combines in-depth medical assessments and bespoke care, allowing clients to recharge amidst the tranquil Swiss landscape.

Understanding the unique demands of corporate leaders and entrepreneurs, TKP’s Leaders Retreat caters to business executives seeking not only respite but also a comprehensive health overhaul. This sixto-eight-week retreat addresses issues like burnout, stress resilience, and metabolic health with up to eight sessions per day. Clients enjoy a refined, home-like setting with luxury villas, private chefs, butlers, and personal managers, ensuring that their wellness journey is as comfortable as it is transformative.

“We treat a wide range of issues, but when it comes to business leaders, entrepreneurs,

“Our approach is entirely client-focused. What started in 2011 with a single patient has grown into a multifaceted programme by listening closely to what our clients truly need. Our clients come to us because where others stop, we begin.”

and people under high stress, we often see problems like sleep disorders, metabolic syndrome, and anxiety. These individuals are under immense pressure to stay ahead in a rapidly changing global scenario. They might overeat, neglect exercise, and turn to unhealthy coping mechanisms like alcohol abuse or gambling,” says Greghi.

Another new programme , the BIO-R Cognitive Blueprint, is tailored to combat cognitive fatigue, enhance mental sharpness, and stave off the symptoms of ageing brain function. This two-to-four-week

Eduardo Greghi

Dr László Ürögi

programme , offered in both Zurich and Geneva, is specifically designed for those who need to maintain peak mental performance in a high-pressure world.

Dr László Ürögi, TKP’s head of Psychiatry, Psychotherapy, and Relapse Prevention, elaborates, “For mental health, the environment is just as important as the treatment. Here in Switzerland, the peaceful natural surroundings play a crucial role in helping clients reintegrate back into their lives with a renewed sense of balance and well-being.”

A DISCREET DESTINATION FOR MIDDLE EASTERN CLIENTS

The Kusnacht Practice has earned a special place among Middle Eastern clients, who value the exclusivity, confidentiality, and customised cultural sensitivity that TKP

provides. Switzerland’s strict privacy laws, combined with TKP’s own rigorous confidentiality protocols, ensure each client’s anonymity, allowing them to focus fully on their journey without being concerned about public attention.

Greghi stresses, “Client confidentiality is paramount. We have multiple layers of security, and Swiss privacy standards are among the strictest in the world. This commitment to discretion is part of what makes TKP a preferred choice for high-profile individuals globally.”

LONG-TERM WELLNESS

Finally, TKP’s commitment to wellness continues even after a client departs, as the facility offers a unique aftercare programme tailored to each individual. “We think about aftercare from day one,” says Dr Ürögi.

“Our team develops a transition plan that ensures the habits and changes our clients adopt here are integrated seamlessly into their daily lives. This includes remote sessions, personalised care plans, and family support measures to sustain the progress achieved during their stay,” he adds.

This approach to long-term well-being makes TKP not just a wellness destination but also a transformative experience that sets the stage for sustainable health and vitality.

CRAFTING LEGACY AND LUXURY

DUBAI-BASED RETAILER, KING’S TRADERS , IS REDEFINING BESPOKE LUXURY WITH ITS EXCLUSIVE PARTNERSHIP WITH 100 HANDS AND A COMMITMENT TO HANDCRAFTED EXCELLENCE

BY NEESHA SALIAN

At the heart of Dubai’s dynamic luxury landscape, King’s Traders (King’s) exemplifies timeless craftsmanship, merging tradition with contemporary flair in an era dominated by fast fashion.

With its recent exclusive partnership with 100 Hands, an internationally celebrated luxury menswear brand, the company has introduced a new chapter in high-end fashion to its discerning clientele across the GCC.

For those who appreciate the nuanced art of luxury menswear, the collaboration between King’s and 100 Hands represents a powerful synergy of legacy, quality and

craftsmanship. “We are proud to announce our exclusive collaboration with 100 Hands, a prestigious name in luxury menswear fashion, for the GCC region,” says Nilesh Karani, King’s director. “The brand has already established a significant presence globally, and their recent entry into Dubai at Springs Souk Mall in April opens exciting new avenues for us to redefine bespoke luxury in the region.”

With shared values rooted in high craftsmanship, this partnership aims to elevate men’s fashion in the GCC.

TRADITIONAL VALUES

Founded in 1965 by Hemchand Karani,

King’s initially captivated Dubai with fine writing instruments from Mont Blanc, Waterman, Cross, Porsche Design and Parker, and soon earned a reputation as a purveyor of luxury. But in 2017, King’s took a bold step by introducing custom footwear to its offerings, a move inspired by a meeting with Dhruv Bhalla, founder of 3DM Lifestyle. “I realised the demand for truly unique, handcrafted leathersoled shoes, something that had nearly vanished in Dubai since the late 90s,” explains Karani, who has exclusive distribution rights for 3DM Lifestyle’s shoes in the Middle East.

“Our foray into custom shoe sales in 2018 revealed a strong demand for personalised footwear. Patrons began requesting unique colour combinations, patterns and custom designs. To meet this demand, we developed a 3D interface on our website, allowing customers to design shoes, belts, bags, and cigar cases online.

“The response was phenomenal, with a surge in online orders.”

Handcrafted shoemaking is an age-old tradition that demands patience, precision, and an eye for detail. Each element of the shoe – from the toe shape to the lines, symmetry, edges, sole, stitching, welt, decoration, colour and style – must be meticulously balanced to create a piece that is both visually appealing and stylish when worn. “At King’s, the journey of shoe customisation is a discovery of unparalleled variety and flexibility. Customers can select a wingtip over a cap toe, opt for chestnut brown leather, or dare to choose a bold blue suede. While shoes serve a practical purpose, a bespoke pair transforms into a fashion statement,” Karani explains.  Karani has established partnerships with factories in Spain to produce these highquality shoes. “These custom shoes include intricate Oxfords, Derbies, monk-straps, boots and sneakers which epitomise craftsmanship in the luxury footwear sphere,” he adds.

HANDCRAFTED SHIRTS

The company’s partnership with 100 Hands is another milestone in the brand’s journey on offering bespoke fashion.

In a world saturated with mass-produced, machine-made goods, King’s and

100 Hands are distinct in their commitment to handcrafted excellence. “Handcrafting a pair of shoes or a shirt is a time-intensive process that requires an eye for detail, patience, and precision,” Karani notes.

With options for everything from shoe colour to toe shape, a custom creation from King’s Traders becomes a personal journey. 100 Hands’ shirts, which take up to 45 hours to complete, offer similar intricacy. Customers select every detail, from collars to buttons, with fabrics sourced from illustrious mills like Loro Piana and Thomas Mason, while Australian motherof-pearl buttons and German threads ensure each shirt reflects true luxury.

Karani adds that Dubai’s fashion connoisseurs have shown a keen interest in these bespoke options, as they seek unique, high-quality investments over trends. “Our customers appreciate the value that comes with handcrafted pieces that can last for years. Since launching our custom shoemaking line, we’ve seen a surge in requests for specific colour combinations, patterns, and even Goodyear-welted soles from Spain,” he says.

Beyond exceptional products, King’s is also committed to ethical practices and

sustainability. “We operate on an ondemand model,” Karani says. “By only producing items once an order is placed, we significantly reduce waste and our carbon footprint. This approach allows us to maintain our quality while aligning with sustainable values.”

Looking to the future, King’s Traders is excited about expanding into new luxury categories, including a line of exclusive Merino wool socks, which are made in the US, and keeping an eye on trends in coordinated outfits and lightweight, sophisticated jackets ideal for the region’s climate. Yet, with all their growth, King’s remains anchored in its heritage of quality and customer-centricity, traits that have defined the brand for over half a century.

“For us, customer feedback is essential. It allows us to refine our offerings and better serve those who see fashion not just as clothing but as a personal brand,” shares Karani.

With its unique blend of heritage, innovation, and an uncompromising commitment to craftsmanship, King’s Traders continues to carve a distinctive niche in the luxury landscape, catering to the tastes of those who value fashion as a refined art form.

The SME Story

A dedicated hub for the regional startup and SME ecosystem

Empowering change

In the ever-evolving landscape of entrepreneurship, three standout startups from the Mohammed Bin Rashid Innovation Fund (MBRIF) Cohort 8 exemplify the power of innovation to uplift communities, drive economic growth and foster a sustainable future

BY NEESHA SALIAN

The pandemic highlighted the need for small businesses to go digital and thrive in the face of adversity. With Big Dot, our leadership team – having spent years building high-performance solutions for underserved markets – aims to empower small businesses globally with digital transformation tools and financial inclusion.

Talk us through your business model and what makes it unique.

Big Dot focuses on empowering small businesses, particularly in underserved markets across the Middle East and Africa. Our unique B2B2C distribution model allows us to onboard millions of businesses without incurring substantial costs.

Tell us about the tech driving your business.

Big Dot is powered by cutting-edge technology that ensures security, scalability, and efficiency. We offer banking-grade security with a mobile-first, multilingual application, hosted on Amazon AWS EC2, RDS, and S3 for on-demand, secure infrastructure.

What inspired you to start this business?

I created my first company, Creative Creatures, long before entrepreneurship and startups became buzzwords. Over the years, I’ve been deeply involved in various startups and early-stage companies across the US, Qatar, UAE, and India, which fuelled my passion for building businesses from the ground up. The idea for Big Dot had been brewing for a while, but it was the challenges brought by Covid-19 that truly ignited the vision.

We operate on a recurring revenue model, generating income through five channels: (1) subscriptions to our services, (2) commissions on digital payments and third-party services, (3) lead generation, (4) integrations, and (5) customisations. What sets us apart is our unified and interoperable platform specifically built for micro, small and medium enterprises (MSMEs), enabling them to thrive in a cohesive ecosystem. Big Dot isn’t just a tool; it’s an ecosystem where businesses grow, connect, and succeed. By addressing both digital transformation and financial inclusion, we’re helping SMEs contribute more significantly to economic growth and societal happiness.

We leverage generative AI, including ChatGPT, for advanced automation and insights. Our apps are developed using Flutter, allowing them to run seamlessly on both Android and iOS. On the backend, we utilise a combination of Angular, C#, MongoDB, and other technologies for optimal performance. Additionally, we’re building our own blockchain and experimenting with Hyperledger Fabric to power our permissioned blockchain for financial services and business transparency.

Can you share details about your growth plans and any recent funding rounds?

Big Dot operates a B2B2C model and has established partnerships with prestigious organisations in Qatar, UAE, and Kuwait. We’ve also built a robust distribution network in Africa and are proud to serve customers in over 20 countries. In 2024, our focus was on delivering high-quality solutions for existing clients.

Moving forward, we are prioritising expansion in the Middle East and Africa,

Mahesh Prajapati, founder, Big Dot

with Saudi Arabia as a key market. In 2025, we aim to partner with six banks, two telecom companies, and two governments. We’re already in discussions with three African governments. So far, we’ve raised approximately $1m in funding from friends and family and are open to investments from the right partners at the right valuation.

What are some key milestones you’ve achieved so far?

In just 18 months, Big Dot has onboarded 30,000 small businesses across more than 20 countries, a significant milestone that highlights our impact. We’ve built a robust distribution network and are proud to be part of Visa’s Acceptance Fast Track programme and the MBRIF Cohort 8. Additionally, we are running a pilot program with the Commercial Bank of Qatar (CBQ) for MSME digital transformation.

Recent interest from three West African governments to use Big Dot for integrating small businesses into the formal economy

“ENTREPRENEURSHIP IS A BEAUTIFUL JOURNEY THAT REVEALS

EVERY ASPECT OF YOUR PERSONALITY, AND IT’S CRUCIAL TO EMBRACE THE PRESSURE THAT COMES WITH IT.

REMEMBER, EACH JOURNEY IS UNIQUE – DON’T RUSH TO FOLLOW SOMEONE ELSE’S PATH. ONLY PURSUE THIS VENTURE IF YOU HAVE THE PASSION AND DETERMINATION TO SEE IT THROUGH, AS THE ROAD CAN BE TOUGH.”

is another exciting development. We’re also proud to be a cash flow-positive business with a clear roadmap for growth and continued success.

What advice would you give to aspiring entrepreneurs?

Entrepreneurship is a beautiful journey that reveals every aspect of your personality, and it’s crucial to embrace the pressure that comes with it. Remember, each journey is unique – don’t rush to follow someone else’s path. Only pursue this venture if you have the passion and determination to see it through, as the road can be tough.

Assemble a talented team and hire people who are smarter than you. Empower them to work towards a shared vision – this isn’t just a cliché; it’s essential for success. Choose your investors wisely and resist short-term temptations. Stay resilient and adaptable, listen to your customers, and don’t hesitate to pivot when necessary. Lastly, celebrate small wins while keeping your focus on long-term goals.

Jacqueline Perrottet, founder and CEO, Hoopla

Tell us about your background and what inspired you to start this business. I founded Hoopla after years of struggling with anxiety, which intensified during motherhood. I found it challenging to manage my own emotions and help my children navigate theirs. Many existing solutions for emotional wellness felt too clinical, expensive, or simply inaccessible for families. That’s when I thought – what if the smartphone, often seen as a source of stress, could instead become part of the solution as an accessible tool for calm and connection? Hoopla offers families preventative tools to build emotional regulation skills, using technology in a way that brings joy, calm, and connection into everyday family life.

Talk us through your business model.

Hoopla operates on a subscription model, offering families access to a library of emotional wellness exercises. What sets our business model apart is our B2B2C approach – we partner with healthcare professionals and educators who recommend Hoopla to parents, creating a trusted channel that leads to strong conversion rates. Alongside our B2C app subscriptions, we’re developing B2B programmes for schools and healthcare to expand our reach and create multiple revenue streams.

Tell us about the technology powering your business.

Hoopla leverages smartphone features like haptic feedback to create calming, immersive experiences that engage

children through touch and audio, avoiding passive screen time. Our AI-powered Emotional Wellness Buddy, currently in development, will offer families personalised wellness journeys with tailored exercises, emotional check-ins, and progress tracking. What sets us apart is how we transform technology into a tool that strengthens emotional skills and deepens family bonds by sparking conversations, encouraging active play, and empowering parents to help their children regulate emotions in a fun and meaningful way.

Share details about your growth plans and any recent funding rounds?

We’re scaling Hoopla by developing programmes for schools and healthcare professionals and bringing our tools into classrooms and clinics. We also plan to launch an Android version and expand into different languages. So far, we’ve bootstrapped with the support of a small grant, but we are now raising a pre-seed round to accelerate product development, grow our user base, and enhance our AI features. This funding will help us realise our vision of making Hoopla a leading platform for family mental wellness.

What are some key milestones you’ve achieved so far?

Since launching our beta in July 2024, Hoopla has grown to over 1,000 organic users, with 92 per cent of surveyed families reporting positive emotional and behavioural changes in their children. We’ve also rapidly expanded our partnerships with child psychology and education experts, ensuring our content is backed by evidence. However, our most rewarding milestones

HOOPLA HAS GROWN TO OVER 1,000 ORGANIC USERS, WITH 92 PER CENT OF SURVEYED FAMILIES REPORTING POSITIVE EMOTIONAL AND BEHAVIOURAL CHANGES IN THEIR CHILDREN

come from individual conversations with parents who share how Hoopla has profoundly impacted their family’s daily life. Whether it’s helping a child manage stress or creating space for meaningful bonding moments, these personal stories highlight the real-world impact of Hoopla and inspire us to continue evolving the platform to support more families. We’re currently part of MBRIF Cohort 8 Innovation Accelerator programme, which has provided us with valuable support and resources.

What advice would you give to aspiring entrepreneurs?

Focus on your own mental wellness – building a company is demanding, and resilience is key to staying on track. Surround yourself with people who not only believe in your vision but also aren’t afraid to challenge you. Passion and perseverance are your greatest tools, and when challenges arise, staying true to your purpose will keep you moving forward.

“WHETHER IT’S HELPING A CHILD MANAGE STRESS OR CREATING SPACE FOR MEANINGFUL BONDING MOMENTS, THESE PERSONAL STORIES HIGHLIGHT THE REAL-WORLD IMPACT OF HOOPLA AND INSPIRE US TO CONTINUE EVOLVING THE PLATFORM TO SUPPORT MORE FAMILIES”

What inspired you to start this business?

Nadeera is a social enterprise that was founded in 2020 by a team of environmental experts and business developers, following the Lebanese waste crisis. We saw an opportunity to leverage technology-enabled interventions to change social behavior and instill circular economy practices.

In 2021, Nadeera was incorporated in the UAE as we aimed to expand throughout the region and address the linear mindset driving the economy. To this day, up to 95 per cent of the Middle East and North Africa’s (MENA) waste is disposed of, and less than 5 per cent is recovered for recycling. Additionally, MENA countries are currently challenged by increasing waste generation rates and rising socio-economic wasterelated costs.

Nadeera aims to alter this mindset through a technologically driven rewards, education, and traceability programme that incentivises positive behavioural outcomes regarding waste recovery.

Talk us through your business model and tell us about the technology powering your business.

Nadeera’s solutions fall under ‘Yalla Return’, a digital platform that simplifies the recycling journey, offers rewards, and ensures cost-effective solutions through in-house developed technological solutions. The technological tools applied through Yalla Return include mobile applications, a proprietary IoT system for tracking, an AI waste recognition software for waste inspection, smart bins, and reverse vending machines. We generate revenue through:

The sale of smart hardware and machinery, such as reverse vending machines

The sale of software, such as mobile applications

The implementation of sponsored recycling and material recovery programs

Yalla Return has been piloted, rigorously tested, and scaled across three different geographies. The efficacy of the system was verified through a research study involving 10,000 households, implemented by a social behaviour research team from Yale

Rabih El Chaar, co-founder and CEO, Nadeera Technologies

and Gothenburg University. Nadeera distinguishes itself from other waste management service providers by prioritising a user-centric approach that relies on social marketing tools and a frictionless experience, eliminating the common disengagement caused by complex solutions. Our solutions digitise and personalise the waste recovery scheme, allowing for the end-toend traceability of recyclables from the point of their generation to the point they are recirculated back into the economy, giving positive impact creators ownership of their contributions. This technology also complements our B2B2C business model, as we can reach and engage all members of a community or organisation at a time while still providing a customised experience to each community and personalised feedback and communication to every user.

What are some key milestones you’ve achieved so far?

Since its incorporation in the UAE in 2021,

Nadeera has grown to a team of 20, which includes waste management experts, business development consultants, and an in-house tech development team. We have achieved significant commercial success, engaging over 30,000 households across multiple MENA geographies (Dubai, Abu Dhabi, Jeddah, Riyadh and Lebanon) and generating approximately $600,000 in revenues within the past 12 months.

In 2024, Nadeera was selected for MBRIF Cohort 8 Innovation Accelerator programme, further supporting our growth journey. We are also currently entering the North American market, with confirmed projects in the US, and are raising our next round of funding, having already acquired $488,000 in investments and become an ADQ-portfolio company.

What advice would you give to aspiring entrepreneurs?

A crucial key to success is listening to your users, right from the conception of the business idea to its growth. This involves identifying very specifically who they are, their pain points, how to best communicate with them, how they react to your solution, and how they interact with the product, then acting upon their feedback at every stage. Our advice would be to ensure the product remains user-centric; do not be afraid to pivot and evolve in response to what users are telling you. This adaptability not only fosters innovation but also builds a loyal customer base that feels valued and understood, ultimately driving sustained growth in a competitive market.

NADEERA HAS ACHIEVED COMMERCIAL SUCCESS, ENGAGING OVER 30,000 HOUSEHOLDS ACROSS MULTIPLE MENA GEOGRAPHIES (DUBAI, ABU DHABI, JEDDAH, RIYADH AND LEBANON)

How IDDA is accelerating Azerbaijan’s tech revolution

Dominique Piotet, the expert in Technopark Development at IDDA, says the agency is positioning Azerbaijan as a leading tech innovation hub that is fostering a thriving startup ecosystem

2024 marked Azerbaijan’s largestever participation at GITEX. Could you share more about your presence at the global tech event?

The first thing we are showcased was Azerbaijan as an innovative country. As the Innovation and Digital Development Agency of Azerbaijan (IDDA), our mission is to foster innovation and serve as a platform for new ideas within the country.

We spotlighted our startup ecosystem by connecting it with the global market. For this reason, IDDA brought six carefully selected startups from diverse fields. For example, one platform, Smart Solutions Group, facilitates tenders for government and private companies alongside several others in different industries. Our goal is to help these startups engage with the global ecosystem. IDDA also sought to build connections with UAE, which is a rapidly growing tech hub, and establishing the right partnerships here is essential for us. GITEX offers a fantastic opportunity to collaborate and explore synergies with the local and regional tech communities.

Ahead of GITEX, IDDA launched the Azerbaijan Innovation Centre (AIM). Could you tell us about the vision behind this facility and the goals it aims to achieve?

We’ve studied best practices from around the world, and one key takeaway is that innovation centres are essential for driving explosive growth in innovation ecosystems. The centres serve as platforms where innovation can truly flourish.

The concept is to bring together startups, corporates, investors, venture capital (VC) funds, and educational institutions – such as coding schools –under one roof. That’s why we launched AIM, the Azerbaijan Innovation Center. The goal is to unite all these stakeholders, foster collaboration, and strengthen our ecosystem to accelerate the creation of more startups. The initiative reflects our vision to make our innovation ecosystem stronger, faster, and more dynamic.

How is IDDA supporting the growth of startups and collaborating with other key players to nurture a thriving ecosystem?

The government plays a key role in any emerging ecosystem, starting with enabling sound regulation. For example, we aim to ensure that VC funds can invest freely and that startups can thrive under favourable regulatory frameworks.

Another critical role is government investment, particularly in education. Building a strong tech ecosystem requires talent, and that’s one of our primary focuses at IDDA. We invest heavily in education through initiatives like incubation and acceleration programs, coding schools, and even a cyber school.

Beyond that, we strive to bring everyone together and move in the same direction. Creating a culture of innovation and entrepreneurship is essential to us.

One of IDDA’s core missions is to foster and celebrate local talent – our heroes – and nurture that spirit of innovation.

For this reason, we host the annual IDDA Awards to honour the best innovations and events in the country. It’s all part of our ongoing effort to push even further to make innovation a reality.

How is IDDA collaborating with organisations, especially in the tech sector, to cultivate a thriving startup ecosystem?

Partnerships are central to our strategy because we recognise that we don’t have all the answers.

As a government agency, our goal is to collaborate with the best partners to develop top-tier programs.

For instance, our coding school was created in partnership with Holberton School, a computer science school founded in Silicon Valley that now operates in 12 countries, including Azerbaijan. Similarly, for our cybersecurity initiatives, we have partnered with Technion - Israel Institute of Technology to develop a worldclass cybersecurity program.

We actively seek the best potential partners wherever they are. This is one of the reasons we are present at GITEX 2024 in Dubai – to find the right collaborators. Given that we are only two hours away from Dubai, it is essential for us to strengthen these partnerships.

What will be your primary areas of focus in 2025, and are there any specific projects or initiatives you are currently working on?

IDDA plans to establish an even larger innovation centre that will host more startups and provide greater support. We are building a comprehensive platform for innovation, which involves multiple components.

We are actively working on improving regulations and enhancing our international connections and regional presence in tech, which is very important to us. Next year, we will focus significantly on these areas.

Furthermore, we aim to create a more conducive and innovative environment for startups to thrive. Coming from Silicon Valley, I understand that launching a startup is a challenging endeavour with many opportunities for failure.

Given that access to funding is crucial, we want to make the funding process more seamless for entrepreneurs.

We aim for Azerbaijan to become a leading tech innovation hub in the region. As a regional player, we have strong neighbours who are equally committed to advancing technology, and we believe that we can achieve greater success by working together.

Our geographical location is advantageous; we are just two hours away from other major hubs, making us a natural destination for collaboration.

We have an emerging and promising talent pool, as well as a growing startup scene.

Dominique Piotet

Five steps to help businesses scale to seven figures

Although barriers to entry are lower, the challenges of scaling a business have increased significantly

BY LISA ZAHIYA

From Saudi Arabia and Hungary to Australia and the US, scaling businesses to seven figures takes considerable work and more importantly, the right steps at the right time. While the core principles of success remain universal, their application must be adapted to suit the unique economic, cultural and competitive landscapes of each region. Whether in New York,

Dubai, London, or São Paulo, the journey to sustainable scaling, requires more than just passion. It demands strategic execution that aligns closely with the specific market being served. Globally, an entrepreneurial revolution is underway. The rise of e-commerce and Web3 has made starting a business and accessing a global clientele more accessible than ever. However, although barriers to entry are lower, the challenges of scaling

a business have increased significantly. Past experience shows that simply replicating strategies that work elsewhere is not sufficient. Real success comes from understanding the nuances of the local market, trusting instincts, and taking calculated risks. Crucially, success involves having a clear roadmap that aligns day-to-day actions with long-term goals. Here are five steps that are essential in helping clients achieve significant milestones across the world, along with actionable steps for each:

01. LOCALISE THE STRATEGY

The first rule of global success is acknow-

ledging that a one-size-fits-all approach does not work. Each market comes with its own cultural nuances, consumer behaviours, and competitive landscape. Business strategies must be tailored to the specific needs and preferences of the target market.

ACTION STEPS:

Conduct thorough market research to identify cultural and behavioural differences that could affect the product or service.

Adjust marketing and messaging to reflect local values, language, and expectations, ensuring they resonate with the target audience.

02. SYSTEMISE FOR SCALABILITY

Regardless of location, growth requires systems. From New York to Tokyo, the most successful businesses are those capable of scaling without depleting resources. Implementing automated systems allows businesses to grow efficiently and sustainably.

ACTION STEPS:

Map out business processes and identify areas where automation can streamline operations, reduce costs and improve customer experiences.

Invest in scalable technology platforms that can handle increased demand without compromising service quality or delivery speed.

03. CULTIVATE A GLOBAL NETWORK

Success in the global market is as much about who you know as what you know. Building and maintaining relationships with key partners, industry influencers, and entrepreneurs across different regions is vital.

ACTION STEPS:

Attend international conferences, trade shows and networking events to expand connections and stay informed on global trends.

The first rule of global success is acknowledging that a one-size-fits-all approach does not work. Each market comes with its own cultural nuances, consumer behaviours, and competitive landscape.

Form strategic partnerships with complementary businesses in various regions to enhance product offerings and extend market reach.

04. PRIORITISE DATA-DRIVEN DECISIONS

In every market, data is critical. Whether in a fast-paced economy like China or a developing market such as Kenya, data-driven decision-making ensures that strategies are grounded in reality.

ACTION STEPS:

Implement a robust analytics platform that tracks key performance indicators (KPIs) and customer insights in real time.

Regularly analyse data to identify trends, measure success, and swiftly adjust strategies based on performance.

05. INVEST IN CUSTOMER EXPERIENCE

Across the globe, one constant remains: exceptional customer experience drives loyalty. Whether customers are in Paris or Mumbai, their experience with the brand determines whether they will return and recommend the business to others.

ACTION STEPS:

Establish a customer feedback loop that actively seeks input from clients, allowing continuous refinement of the customer experience. Implement personalised communication strategies to ensure every customer feels valued, regardless of their location.

These strategies are not mere theories; they have been successfully implemented to help clients across the world break through to seven figures. However, their value lies in the precision of their execution.

The global marketplace is full of opportunities, but only those willing to take action and adapt to the unique challenges of their market will achieve lasting success. By following these steps, businesses can soar to new heights.

The author is a business consultant and strategist.

Farther: 7,750 nm/14,353 km1

Faster: Mach 0.9352