Capital : Issue 2

Galleries. A look inside the cutting-edge world of kinetic art P.22 / Interview. Entrepreneur Lucy Chow P.36 / Travel. New York – The winter city guide P.44

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C A P I T A L

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D U B A I

S E M I - A N N U A L

M A G A Z I N E

ISSUE TWO. DECEMBER 2016

QUEEN OF THE STONE AGE Member Doris Hangartner on sourcing the right gem and fusing jewellery with art Page 24

OfficialOfficial Representative Representative for for Bahrain Bahrain - Kuwait - Kuwait - Oman - Oman - Qatar- Qatar Saudi Arabia Saudi Arabia - United- Arab UnitedEmirates Arab Emirates

Mangusta Mangusta has been has been the undisputed the undisputed leader leader in yach ng in yach ng fun for funthe forpast the past 30 years: 30 years: withwith its strength its strength of character, of character, meless meless personal personal stylestyle and experience and experience in building in building dreams. dreams.

Today, Today, Mangusta Mangusta is a reference is a reference icon,icon, a milestone a milestone in yach ng in yach ng fun since fun since 1985,1985, and now and now availalbe availalbe throughout throughout the GCC, the GCC, distributed distributed

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A NOTE FROM CAPITAL CLUB DUBAI'S SOCIETY GENERAL MANAGER

Welcome to the second edition of our quarterly magazine, an initiative created to elevate our communication and share the latest club news with all of our members.

achieving all their aims for club events. Noor will be leaving the club at the end of 2016 and I want to thank her for all her hard work and wish her all the very best.

We recently held our annual Board of Governors and Committee Reception and I’d like to extend our gratitude to all those involved for their continued commitment to the club, which has experienced yet another successful year.

Membership in any club has to be the number one priority and I would like to thank the Board of Governors for continuing to be the ambassadors of the Capital Club Dubai.

This year, as well as launching our new “Capital” magazine, we also saw the launch of a brandnew club video. Both initiatives have proven extremely popular with our members and my thanks go to Ian Fairservice and his team at Motivate Publishing in assisting with the production of both.

I also want to thank Amanda Line, who took over as Chairman of the Membership Committee at the beginning of the year. The committee still approves all new members that are put forward for membership and are instrumental in ensuring that the calibre of members is retained.

One of the most active committees this year has been the Events Committee. Many of the members have commented on the sheer number, variety and quality of events this year at the club.

We were fortunate to have Noor Nanji join us as Director of Events and Communications – she was a huge support to the Committee in

As most of you know, I am leaving the club at the end of December. I would like to take this opportunity to thank all our members for their support over my 18 months at the club, and to wish the club every success in the future. I’d also like to thank the General Managers and secretaries at clubs around the world with whom I established reciprocal agreements during my time here. I know our members greatly appreciate the benefit that these reciprocal clubs bring to their membership.

The pages that follow cover a variety of events, current news and lifestyle topics ranging from art to rare watches. I hope you enjoy the latest issue and all that the festive season holds ahead.

Christian Horvath

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CONTENTS GENERAL MANAGER Christian Horvath DIRECTOR OF COMMUNICATIONS AND EVENTS Noor Nanji CLUB EVENTS AND COMMUNICATIONS COORDINATOR Ana Miulescu

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GATE VILLAGE, BUILDING 3, DUBAI INTERNATIONAL FINANCIAL CENTRE (DIFC), Tel: +971 4 364 0111 info@capitalclubdubai.com www.capitalclubdubai.com

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08. CAPITAL CLUB NEWS The latest news and views

Capital Club Dubai

22. THE MAN AND THE MACHINE A look inside the cutting-edge world of kinetic art at MB&F M.A.D.Gallery in Dubai

@CapitalClubDXB Capital Club Dubai @capitalclubdubai

24. DORIS HANGARTNER The leading jeweller on finding the right gem 26. A 40 YEAR ICON: THE EVERAPPEALING NAUTILUS WATCH In today’s world of luxury contemporary watches, the Patek Philippe Nautilus is one of the shining stars, appealing to almost each and every collector 28. CHRISTIE'S DUBAI A decade of success at art auctions in the Middle East 30. HOW TO INVEST IN ART Buying what ‘you like’ pays dividends 36. THE ENTREPRENEUR FILES: LUCY CHOW The Elements Group’s founder on her road to success 38. SIGNATURE CLUBS INTERNATIONAL From Dubai to Africa, discover the premier private business clubs connecting members across the world 42. THE SUITE LIFE Book into your home away from home at Capital Club Dubai’s luxurious city suites

50 44. NEW YORK: BRIGHT LIGHTS, BIG CITY The ultimate guide to experiencing the city that never sleeps during the winter months 46. FIVE TECH TRENDS AT THE FOREFRONT OF OUR DIGITAL FUTURE The technology poised to transform the world in meaningful ways 50 UAE MEGA PROJECTS Dubai continues to pursue its sky-high ambitions 54 PRESS PLAY Delve inside the hallowed walls of the Capital Club Dubai and meet a few of our highranking members with a brand new video 57 SOCIETY HIGHLIGHTS The last few months at Capital Club Dubai have been a whirlwind of exciting events, talks and parties

A Motivate Connect Publication Media One Tower, Dubai Media City PO Box 2331, Dubai, UAE T: +971 4 427 3000 F: +971 4 428 02261 motivatepublishing.com connect@motivate.ae

EDITOR-IN-CHIEF Obaid Humaid Al Tayer MANAGING PARTNER AND GROUP EDITOR Ian Fairservice EDITORIAL DIRECTOR Gina Johnson PUBLISHER Chris Capstick chris@motivate.ae GROUP EDITOR – CONNECT Guido Duken CONTRIBUTING EDITOR Annah Cuthbert SENIOR ASSIGNMENTS EDITOR Ingrid Valles SENIOR ART DIRECTOR Tarak Parekh GENERAL MANAGER – PRODUCTION Sunil Kumar PRODUCTION MANAGER R. Murali Krishnan

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SOCIETY

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CAPITAL CLUB NEWS

‘Last Tuesday Tradition’ at Capital Club The close of any month in Capital Club Dubai means just one thing – the hugely popular ‘Last Tuesday Tradition’ events.

The oldest and most enduring monthly event held at the club, members are invited to enjoy complimentary drinks, canapés and live music while networking with fellow members.

With a different sponsor each month, including Bentley, Consilium, the MB&F M.A.D. Gallery, Currency Matters and IG Investments, the event also puts on a raffle whereby one lucky winner walks away with a coveted prize. Find out more about the “Last Tuesday Tradition” at capitalclubdubai.com.

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CAPITAL CLUB NEWS

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EOPLE EOPL LE W WHO HO SSHAPED H I

WEDNESDAY 21 SEPTEMBER 6:30 – 8:30PM | DUBAI ROOM

Some people see Dr Abdulla Al Karam as a visionary leader...

“I’m happy be part of something bigger than myself; to think about things that are bigger than myself.”

Since he helped to establish KHDA in 2007, private education in Dubai - including early learning centers, schools, universities and training institutes - has not only improved, but thrived.

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“Our role as a government regulator is to bring our community together and focus on what’s working,” he says. “We all have something to contribute to education, and the more we give, the happier we are.”

Dr Abdulla Al Karam

Director General Chairman of the Board of Directors

Knowledge and Human Development Authority

For more details and RSVP: 971 4 364 0111 or rsvp@capitalclubdubai.com AED 100 Members / AED 125 Guests inclusive of canapés & select beverages

The forces leading the city’s growth Back in autumn Capital Club Dubai re-launched the prestigious ‘People Who Shaped Dubai’ series.

Welcoming His Excellency Dr. Abdulla Al Karam from the Knowledge and Human Development Authority (KHDA) to the club, the Chairman of the Board of Directors and Director General, spoke exclusively to the club’s members about Dubai’s education system.

Following the event, the venue welcomed

Joseph Fowler, Director of Programming of Dubai Opera, along with Danish architect Janus Rostock – the man behind the dhow-shaped masterpiece that can now be found in the heart of Downtown Dubai.

The first quarter of 2017 will also see Gerald Lawless, Head of Hospitality and Tourism at Dubai Holding, and Manal Al Bayat from the Expo 2020, as part of the prominent speaker series at the club.

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1. HE Dr. Abdulla Al Karam. 2. Edward Quinlan 3. Janus Rostock, Danish Architect

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CAPITAL CLUB NEWS

Cityscape at your club Capital Club hosted a series of successful events around Cityscape Week 2016. Before the exhibition officially opened its doors, the club was the very first venue in Dubai to host an exclusive Cityscape preview breakfast.

Complimentary for members, the informative gathering was co-hosted by Cluttons, Barclays Wealth and Norton Rose Fulbright.

The club also played host to a gourmet 3-course Sardinian dinner in collaboration with Sotheby’s Italy, who were in town to showcase their beautiful new ‘Inhabited Sculptures’ collection of villas.

Capping off an action-packed week, the club held a lunch hosted by club member Stefano Ferretti to discuss and recap all of the real estate happenings at Cityscape.

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CAPITAL CLUB NEWS

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The UAE’s new federal bankruptcy laws to facilitate businesses

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1. Essam Al Tamimi talks about litigation and dispute resolution in the UAE and the wider GCC 2. Essam Al Tamimi with John Everington

In another major legal step that moves the UAE forward, the country has recently passed an amendment to its federal bankruptcy laws. The legislation aims: “to promote our economy’s attractiveness for investments and to facilitate business”, according to a tweet from His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the United Arab Emirates and Ruler of Dubai. The new law is likely to come into effect in early 2017.

A venue known for both topical and relevant events, Capital Club Dubai was first in line to organise a talk to highlight and discuss the new law. With over 30 years of experience in litigation and dispute resolution in the UAE and the wider GCC, Essam Al Tamimi, Senior Partner at Al Tamimi & Company, was invited to shed light on the new legal move, while John Everington, a well-known business reporter at The National, moderated the discussion held at the club.

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SNAPSHOT

Picture of the month: IMG Worlds of Adventure The world’s largest indoor amusement park opens in Dubai Covering more than 1.5 million square feet, IMG Worlds of Adventure, the biggest indoor theme park on earth, threw open its doors to a mass of thrill-seekers in the Emirates.

Officially open to the public as of August this year, the multimillion-dollar mega project has the capacity to accommodate over 20,000 guests each day.

The action-packed venue is set around four adventure zones, each with its own epic experience; Marvel, Lost Valley, Cartoon Network and IMG Boulevard – all housed in an expansive air-conditioned enclosure.

The entertainment destination offers visitors an exhilarating assortment of action-packed attractions, including immersive games, interactive attractions, adrenaline-pumping roller coasters and thrilling rides, all based on Cartoon Network characters, iconic MARVEL Super Heroes and prehistoric dinosaurs.

Located close to Arabian Ranches, IMG Worlds of Adventure also boats a 12-screen state-of-the-art cinema, along with dozens of themed shops and food outlets offering 13 different types of cuisine from PanAsian to South African.

For more information and tickets visit imgworlds.com

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ADVERTORIAL

Delhaye Gregory Group partners with the Overmarine Group One of UAE’s leading luxury service providers, Delhaye Gregory Group (DGG) announced its official partnership with the family-run Italian yacht company The Overmarine Group for the GCC region.

The alliance was made official during the recently held Cannes Yachting Festival. The Overmarine Group is recognised throughout the world for its maxi open yachts bearing the well-known Mangusta brand – a leader in the 30 to 50m fast yachts segment.

Catering to the international elite, DGG has consistently been expanding into new niche sectors with top-notch services catering to various occasions and interests. Under its umbrella are: Platinum Events, Platinum Lifestyle, Platinum Weddings, Furniture Rental, Maison Des Fleurs, Vintage and Prestige Motors, Platinum Auction, Atelier 971 Photography, DG Investments, and now The

Overmarine Group.

Grégory Delhaye, Founder & Chairman of DGG, continuously seeks opportunities to increase their strong and steadily growing portfolio. “We are extremely pleased to partner with the Overmarine Group and support its plans for future development here. Mangusta is a brand of excellence and together we are certain to redefine new opportunities for its Middle Eastern sojourn,” he commented.

The Gulf has always been a strong reference market for Overmarine|Mangusta with many Mangusta yachts being delivered to clients in the region, both for cruising in home waters and itinerant between the Gulf and the Mediterranean. “We’re extremely satisfied about our working relationship with the Delhaye Gregory Group,” stated Maurizio Balducci, Overmarine Group Managing Director. “Its capillary network of connections

and its entrepreneurial competence, combined with an in-depth knowledge of luxury and how best to approach clients mean our products are here represented in the very best way possible.”

The DGG team consistently delivers on its reputation for excellence, offering the best in terms of innovation, technology and top quality services. Some of their prestigious and loyal clientele includes the Richemont Group, Rolls-Royce, Chanel, Dior, LVMH, Ferrari, Al Naboodah, Aston Martin, Abu Dhabi Islamic Bank, ADCB, as well as several Abu Dhabi and Dubai Government entities.

All DGG ventures are either fully owned or co-shared with majority or minority shares.

Outside the UAE, DGG also holds physical offices in Monaco and the Kingdom of Saudi Arabia.

Visit www.mangusta.ae mangustayachts_me

Limited Edition VULT released to celebrate the 45th UAE National Day Secured Worldwide recently announced the release of a limited edition VULT to celebrate the 45th United Arab Emirates (UAE) National Day, also known as the “Spirit of the Union.”

The hand-made, pearl toned VULT secures seven diamonds, each representing the seven Emirates and honouring the history of Pearl diving in Dubai.

Ideal gifts for collectors of fine objects, only 45 commemorative VULTs have been manufactured for the occasion. “The UAE appreciates the finest products and this unique VULT contains the investment grade diamonds that will be cherished for generations to come. Diamonds have traditionally been a symbol of strength and invincibility, and they reveal the true beauty of nature,” said Joseph Lipton, Secured Worldwide’s CEO. “VULT enables individuals to easily price, buy, transport and sell investmentgrade diamonds as a new and accessible asset class. Investors now have an alternative, liquid store of wealth unlike the current system of non-standardized laboratory graded loose diamonds. VULT has transformed diamonds from a personal asset into a new portable store of value and

global monetary exchange,” he continued.

VULT combines proprietary and patented remote authentication technologies for identification with GIA graded diamonds, and enables individuals to easily transport very dense value. The desire to own diamonds goes back centuries, and VULT is an ideal way to preserve one of the most prized and highly valued gemstones.

Secured Worldwide selects only colourless, investment-grade diamonds that adhere to strict criteria and have been individually examined by leading diamond experts. The diamonds in VULT are warranted to be exactly as listed and the company maintains a Lloyds of London policy backing the security of the diamonds inside VULT. Secured Worldwide Director of Business Development Mo EL-Arishy, stated: “Old beliefs for stores of wealth are being challenged by new innovations like VULT. We are excited to

offer such a beautiful product to the UAE. The Middle East has always admired diamonds and is one of our key markets, especially with the growing importance of Dubai as a global diamond trading hub. “ With the uncertainty in financial markets and the volatility in currencies, diamonds represent a stable option for investors seeking to protect their wealth. With the on-going changes in the diamond industry and the increasing costs to mine, the outlook is quite positive for unique products such as VULT. Visit vult.com or email: elarishy@vult.com

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CAPITAL CLUB NEWS . US PRESIDENTIAL DEBATE

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The US Presidential debate rocks into Capital Club Republicans and Democrats went head-to-head in our much-awaited political debate moderated

by The National’s Frank Kane Words By Frank Kane for The National

I’ve had the pleasure to be involved in two high-profile debates at Dubai’s Capital Club recently – one a few months back in the run-up to the Brexit vote in the UK, and one in October on the US presidential elections.

They were chalk and cheese. The Brexit evening was like the last night at the London Proms – emotional and stirring, but ultimately as civilised as an English county cricket match.

The US clash was in comparison a night of heavy rock at New York’s Madison Square Garden, or a visit by the Boston Red Sox to Yankee Stadium. Those Americans sure know how to throw a debate.

Part of the reason for the contrast lies, of course, in the different national characters of the Europeans and the Americans, but a lot of it was down to the fact that this presidential election campaign has been one of the most polarising in history. It’s in the nature of the contenders.

On the one hand, you have a candidate of dubious financial provenance, who has an apparent problem with telling the truth, and about whom there are serious questions concerning fitness for the highest office.

On the other hand, you have Donald Trump, who magnifies those reservations at least ten-fold.

It’s not surprising that a recurring refrain from the floor was regret that such a sophisticated and time-tested political system as that of the US could only come up with two such duds as Hillary and Donald.

That sentiment was not echoed on either the Republican or Democrat side of the speakers’ platform.

I was mightily impressed by how earnestly and sincerely the Republicans supported their man Donald, whatever their earlier expressed reservations had been.

Steven Anderson, chairman of Republicans Overseas UAE and a

veteran of the 1972 campaign to re-elect Richard Nixon, could imagine no practical circumstances in which he would not support Mr Trump, although I had the impression that if the candidate gave any inkling he might soften his stance on the second amendment, gun-toting Mr Anderson would change his mind pretty quickly.

Bill O’Brien, former US air force officer, now president of the American College of Dubai, was the voluble life and soul of the Republican side, while Joshua Atkinson, author of a book on Afghanistan and head of the Dubai Republicans, kept up a volley of well-aimed interjections in true Trumpian style.

The Democrats were more measured and thoughtful. Orlando Vidal, a lawyer who chairs Democrats Abroad UAE, was genuinely moved and moving on the question of immigration from the standpoint of his Cuban ancestry, eliciting applause.

Tony Graham, a banker who is the Democrat spokesman in Dubai, should really be on The Late Show, so smooth and slick was the delivery,

IT’S NOT SURPRISING THAT A RECURRING REFRAIN FROM THE FLOOR WAS REGRET THAT SUCH A SOPHISTICATED AND TIME-TESTED POLITICAL SYSTEM AS THAT OF THE US COULD ONLY COME UP WITH TWO SUCH DUDS AS HILLARY AND DONALD.

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CAPITAL CLUB NEWS . US PRESIDENTIAL DEBATE

Capital Club Dubai hosted an early morning breakfast to analyse the results of the historical US election

1. From left to right: Orlando Vidal – Chairman of Democrats Abroad (UAE branch), Tony B Graham – Media Spokesperson of Democrats Abroad (UAE branch), Dr Norman Ricklefs – Foreign Policy expert (in close touch with Hillary Clinton’s foreign policy team), Frank Kane – Senior Business Correspondent at The National, Dr. Steven Anderson – Chairman of Republicans Overseas (UAE branch), William Obrien – President of the American College of Dubai, Joshua Atkinson – Republicans Overseas Director for Dubai

while Norman Ricklefs, a foreign policy adviser said to be close to the Clinton team, provided valuable intellectual ballast.

Americans – ie people who can actually vote in November – were in a minority, but the predominantly European crowd warmed to it all, still keen to pose questions after nearly two hours of cut and thrust. The sole Emirati present won a round of applause for his tribute to the glories of American democracy.

At the end, when a vote was called for, the Clinton camp’s more sophisticated debating style won the night, with a significant preponderance of Democratic hands in the air. The Trump supporters may have won the award for entertainment, but they lost the White House.

Following the debate, Capital Club partnered with the US Consulate General to host an informative evening on October 4th about the US democratic process, with a talk given by Dr. Wechsler, Dean of Arts & Sciences and Professor of International Studies at the American University in Dubai, who previously worked for the US Congress and in the White House.

Over 150 members turned out for the tense occasion, which saw Trump win the presidential candidacy over Hillary Clinton.

Speakers at the event included Bill Wechsler, Professor and Dean of Arts and Sciences at the American University in Dubai (AUD), along with Frank Kane, Senior Business Correspondent at The National in Abu Dhabi.

By the time Trump’s victory was beyond doubt and the reality of the situation began to settle in, it was clear that the majority of the attendees at Capital Club’s breakfast event needed time to process what is surely one of the biggest upsets in US presidential history.

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CAPITAL CLUB NEWS . BREXIT

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UK seeks to build on strong UAE ties

Two-way trade brings even greater benefits, Fox says Words by Andrew Staples, Chief Business Reporter at Gulf News

Capital Club was once again the venue of choice of Dr Liam Fox MP for his first official visit to the UAE since the Brexit vote. Dr Fox first spoke at the club back in March this year, expressing his strong “pro-Brexit” views to a packed audience.

After the UK publicly voted to leave the EU, the new Prime Minister, Theresa May, selected Dr Fox to join her Cabinet as the new Secretary of State for International Trade.

Dr Fox returned to the Capital Club on September 19th to address our members in an event co-hosted by The BBG and moderated by Francis Matthew, Editor-at-Large of Gulf News. He spoke about the UK government’s latest plans for leaving the EU, how Brexit may impact UK-UAE

trade relations, and much more.The UK wants to take advantage of its strategic partnership with the UAE as it seeks to shape its post-Brexit economy, Dr Liam Fox told Gulf News.

Fox said the UK understood the geopolitical importance of the Middle East, and already had strong trade ties, particularly in defence and security.

“In this region there are huge opportunities across a whole range of sectors – in fintech, in elements of manufacturing, transport infrastructure and so on. We can be involved in a lot of these projects, and we want to be.”

The UAE is the UK’s fourth largest trade partner outside Europe,

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CAPITAL CLUB NEWS . BREXIT

1. Dr Liam Fox MP and Francis Matthew, Editor-at-Large of Gulf News 2. General Manager Christian Horvath, Dr Liam Fox MP and Capital Club Member David Burns MBE.

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behind the US, China and Japan, he told business people at the Capital Club. About 5,000 UK companies do business in the UAE, he said, and the country is home to around 100,000 British expatriates.

“ONE OF MY BIGGEST FRUSTRATIONS IS THAT PEOPLE DON’T APPRECIATE THAT TRADE IS A TWO-WAY RELATIONSHIP – IT CAN BE A WIN-WIN,” HE SAID AT THE CLUB. “WE OFTEN WELCOME INWARD FLOWS OF CAPITAL FOR THE JOBS THEY CREATE, YET FAIL TO SEE THE BENEFITS OF OUTWARD INVESTMENT.”

‘BIG MARKET’ “It’s a very, very big market for us and we want to ensure that we can get that to continue to grow, and we will want to look at all the areas we trade in to see where we might be able to open that up.”

Dr Fox said the UAE was also a major investor in the UK, with Abu Dhabi sovereign wealth funds having invested more than £1 billion in offshore wind farms in the UK, and having committed to invest in urban regeneration in Manchester.

“One of my biggest frustrations is that people don’t appreciate that trade is a two-way relationship – it can be a win-win,” he said at the club.

“We often welcome inward flows of capital for the jobs they create, yet fail to see the benefits of outward investment.”

UK overseas investments earned enough over the past 10 years to offset its average trade deficit, he said.

UK firms already represent 15 per cent of the regulated financial firms in DIFC, but there is still potential for more, he said. He said the UK and UAE should work together on reducing barriers to entry for firms from both countries.

He also said the UK’s experience in running events such as the 2012 Olympics and Paralympics and the 2014 Commonwealth Games meant British firms could help Dubai prepare for the World Expo 2020.

“It is a two-way flow,” he said in an interview with Gulf News on Sunday evening.

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CAPITAL CLUB NEWS

Best-selling author Nicolai Tillisch kicks off ‘Reading Week’ in Dubai In collaboration with Motivate Publishing and The British Business Group, Capital Club Dubai was proud to host an inspiring ‘Reading Week’ in support of the UAE Government’s plan for 2016 to be a year of reading in the UAE. During the week, Capital Club hosted a conversation with best-selling author Nicolai Tillisch on the current challenges in the region’s business landscape.

The week-long initiative also saw a book fair take place with proceeds going to the Al Noor Training Centre for Children with Special Needs. The charity was opened by HH Sheikh Mohammed Bin Rashid Al Maktoum and HRH Princess Haya Bint Al Hussein to offer a number of special needs programmes for up to 300 children.

A message from Noor Nanji, Capital Club Director of Events and Communications We are very proud that Capital Club Dubai has become known for hosting the most relevant and topical events across the city. When the UK voted for “Brexit”, we were the first place in the world to hold an event so soon after the result. We were also the venue of choice for Dr Liam Fox MP on both of his trips to the UAE this year – both before and after Brexit.

Earlier in 2016, we held a “hot-off-thepress” discussion on the Panama Papers scandal, and our series of debates on the US Elections were also incredibly well-attended – particularly the final one, on Election Day, when we showed the results roll in live at the club. A historic day that no one will ever forget.

2016 has also seen Marco Pierre White’s book launch at the club, events focusing on

investment in Iran, discussions on Dubai’s next top projects, and the re-launch of our prestigious “People who shaped Dubai” series – or should I say, “People who continue to shape Dubai”.

It’s not all hard work though – we also held plenty of social gatherings such as our popular “Last Tuesday Tradition”, our fabulous 008 Anniversary Party, and our annual VIP Evening Reception in October to honour our esteemed Board of Governors, Shareholders & Committee Members, proudly sponsored

by Barclays. No wonder we were described in The National as “the epicentre of Dubai’s social scene!”.

My heartfelt thanks go to our Events Committee for all their wonderful support

this year without which much of the above would not have been possible.

It has been a great year that will be very difficult to top!

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Adaptive Cruise Adaptive ControlCruise (ACC) Control including(ACC) Stop including & Go, Predictive Stop & ACC Go, Predictive and ACC and Traffic Assist enables Traffic Assist the driver enables to maintain the driver a set to maintain distance to a set thedistance vehicle to the vehicle InnovativeInnovative Features and Features Advanced and Advanced in front. Predictive in front.

ACCPredictive uses the navigation ACC uses the data, navigation sensors and data, cameras sensors and cameras to predict upcoming to predict corners, upcoming city boundaries corners, city andboundaries speed-limitand changes speed-limit changes Technologies Technologies and can then and modify can the thenvehicle modifyspeed the vehicle accordingly, speedimproving accordingly, both improving both comfort and fuel comfort economy. and fuel economy.

A suite of state-of-the-art A suite of state-of-the-art driver assistance driver systems assistance and infotainment systems and infotainment features designed features to enhance designedsafety, to enhance comfortsafety, and convenience comfort andmake convenience make Other innovative Other systems innovative available systems on the available Bentayga on include the Bentayga Electronic include Electronic the Bentayga an theinnovative, Bentayga advanced an innovative, and connected advanced and luxury connected SUV. luxury SUV. Night Vision, Night which Vision, uses infra-red which uses technology infra-redto technology identify potential to identify potential obstacles ahead, obstacles and aahead, Head-Up and Display, a Head-Up whichDisplay, reduceswhich driverreduces driver It offers the widest It offers range the of widest on- and range off-road of on- drive and off-road settings drive of anysettings of any distraction anddistraction increases safety. and increases safety. vehicle via Bentley’s vehicle Drive via Bentley’s Dynamics Drive Mode Dynamics and optional Mode Responsive and optional Responsive Off-Road Setting.

Off-Road Up to Setting. eight modes Up toare eight available, modesallowing are available, drivers, allowing at drivers, at The Bentayga’s Theall-new, Bentayga’s cutting-edge all-new, 8” cutting-edge touch screen 8” touch infotainment screen infotainment the simple turn the of simple a dial, turn to select of a the dial,perfect to select dynamic the perfect set-updynamic for any set-up for any system boastssystem class-leading boastsnavigation class-leading technology, navigation a 60GB technology, hard drive, a 60GB hard drive, surface or roadsurface condition. or road condition. and a choice ofand up atochoice 30 languages. of up to 30 languages.

Rear seat passengers Rear seatbenefit passengers from the benefit introduction from the ofintroduction the Bentleyof the Bentley EntertainmentEntertainment Tablet – a removable Tablet 10.2” – a removable Android device 10.2” Android with 4G,device WiFi with 4G, WiFi and Bluetooth and for effortless, Bluetooth high-speed for effortless, on-board high-speed connectivity. on-board connectivity.

Customers canCustomers choose between can choose threebetween differentthree sounddifferent systemssound for the systems for the Bentayga: Bentley Bentayga: Standard Bentley Audio, Standard BentleyAudio, Signature Bentley Audio Signature and Naim Audio and Naim for Bentley Premium for Bentley Audio.

Premium The latter Audio. is the The most latter powerful is the most system powerful in system in the segment, the withsegment, 1,950 watts, with 1,950 a network watts,ofa 18 network speakers of 18 and speakers and super-tweeterssuper-tweeters for unrivalledforrecreation unrivalledof recreation the highest of the audiohighest audio frequencies. frequencies.

SculpturalSculptural Form, Sharp Form, Lines Sharp andLines Elegant and Elegant ExecutionExecution The Bentayga’s The wheel Bentayga’s arches, wheel fendersarches, and bonnet fendersdeliver and bonnet a balance deliver a balance between sportiness between andsportiness SUV presence. and SUV The presence. ultra-sharpThe Bentley ultra-sharp powerBentley power line and muscular line rear and muscular haunch display rear haunch a taut tension display aintaut sidetension profile, in as side profile, as

part of the largest single-piece aluminium pressing in the automotive world. Trademark Bentley features such as the large matrix grille and B-shaped wing vents afford the Bentayga a modern, dynamic elegance.

The grille is flanked by four distinctive floating all-LED headlamps. The lights sit flush within the seamless superformed aluminium front fenders. Innovative design features, like the discreet headlamp washers contained within the outer lamp’s body-coloured centre, demonstrate remarkable attention to detail.

To emphasise the go-anywhere nature of the Bentayga, the Bentley design team have integrated a stylish skid plate into the lower section of the front bumper, just below the floating wing motif.

As standard, the Bentayga comes with a panoramic glass roof. Making up almost 60 per cent of the total roof surface, the 1.35m2 glass feature is split into two panes. The front panel tilts and slides, and the whole glass surface can be obscured via an electric, full-length roller blind.

Sumptuous front seats, individually handcrafted in Crewe and featuring 22-way adjustment including adjustable cushion and backrest bolsters, provide superb support and comfort for all conditions. This cosseted feeling is further enhanced with a six-programme massage system, seat heating and ventilation.

Whether selected in four- or five-seat configuration, all of the leather seats in the Bentayga are available with contrast stitching and a quilted diamond design applied to the ‘shoulders’ and bolsters, echoing the design of a finely tailored British hunting jacket.

All-New W12 – Efficiency with Unrivalled Power and Torque Either side of the glass roof are aluminium roof rails that combine two different finishes – a high-gloss black base and bright anodised top section.

At the heart of the Bentayga is the all-new Crewe-built W12 TSI engine.

This 6.0-litre twin-turbo unit combines efficiency and refinement with the luxury of unrivalled power and torque.

A new range of bespoke Bentayga alloy wheels are available, ranging in size from 20” to 22”.

It is the most technologically advanced 12-cylinder engine in the world and develops 600 bhp (608 PS / 447 kW) @ 6,000 rpm and 900 Nm (663 lb ft) from 1,250 rpm to 4,500 rpm. These mighty outputs result in equally impressive performance figures. The Bentayga is capable of dispatching the sprint to 60 mph in just 4.0 seconds (0-100 km/h in 4.1 seconds) on its way to a top speed of 187 mph (301 km/h).

The World’s Finest Cabin, Handcrafted at the Home of Bentley The Bentayga’s cockpit sets new standards for both luxury and precision, with meticulous tolerances between the exquisite veneered woods and metal elements. The dashboard takes the iconic Bentley ‘wing’ design as its inspiration, with the beautifully finished surfaces flowing gracefully from door to door over the top of the instrument binnacles, down under the centre console and back up around the passenger side fascia and foot well.

The hand-selected veneers form pure and elegant surfaces throughout the cabin, and each of the 15 pieces are shaped by Bentley’s artisans from a choice of seven different veneers, and finished with trademark Bentley attention to detail.

Highly polished, handcrafted metal elements adorn the dashboard, centre console and doors. Trademark Bentley knurling on the drive mode selector, gear knob, iconic bulls-eye vents and organ pulls adds sophistication and tactile refinement.

The engine is mated to an eight-speed automatic gearbox. The transmission and four-wheel-drive system has been strengthened to handle the demands and high torque levels of off-road driving.

In Bentley’s advanced application of Start-Stop technology for the Bentayga, coasting is also available, as the engine rests not only when the vehicle is stationary but also at ‘near to stop’ speeds.

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THE CREATOR

1

The man

and the machine

A look inside the cutting-edge world of kinetic art at MB&F M.A.D.Gallery in Dubai’s Alserkal Avenue

It’s been just under one year since MB&F M.A.D.Gallery first threw open its doors in Alserkal Avenue, Dubai’s foremost arts hub nestled amongst the warehouses of Al Quoz’s industrial zone.

A pioneering movement in the regional art industry, the innovative gallery, which stands for Mechanical Art Devices, has introduced the UAE to kinetic art – a form of art that depends on motion for its effect.

M.A.D.Gallery exhibits works that

illustrate the details, original concepts and exquisite craftsmanship across the spectrum of kinetic art.

In the relatively short time since its debut on the Dubai art scene, M.A.D.Gallery has already showcased an impressive array of award-winning artists, including the talented Japanese engineer Chicara Nagata, whose ground-breaking work “road machines” featured handcrafted state-ofthe-art motorcycles, each requiring over 7,000 hours worth of work.

Founded by Swiss entrepreneur Maximilian Büsser, the M.A.D.Gallery Dubai is the third instalment of this unique concept, after Geneva and Taipei.

With a Master’s degree in Micro-Technology Engineering, Büsser’s first foray into horlogerie was with a role at luxury watchmakers Jaeger-LeCoultre. After seven years in the brand’s senior management team, he was appointed managing director of Harry Winston Rare Timepieces in 1998 aged just 31.

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THE CREATOR

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4

1. MB&F M.A.D gallery 2. Apesanteur II by Quentin Carnaille.

3. Maximilian Büsser, founder and creator, MB&F M.A.D. Gallery 4. Balthazar by MB&F and L’Epee 1839

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In the years that followed Büsser went on to transform the brand into a leader within the haute horlogerie industry, before plunging his talents (and life savings) into launching his own company MB&F – Maximilian Büsser & Friends – in 2005 to begin producing his first watch, HM1.

As his company became a key player in the high-end watchmaking world, Büsser was celebrated for his revolutionary and radical watch designs. He continued his creative adventure by opening the first M.A.D.Gallery in 2011 on Geneva’s Rue Verdaine, followed by a gallery in Taipei three years later.

Upon opening the Dubai outpost of his M.A.D.Gallery concept Büsser said, “Dubai is the most influential and dynamic art hub in the region and we are excited to introduce these international artists to the local audience for the first time.”

Seeing a platform to showcase the unique world of kinetics, Büsser sought out some of the world’s leading kinetic artists. “The artworks we have chosen for M.A.D.Gallery speak to the creative, youthful and playful spirit within us and encourage the viewer to engage on a personal level,” he said.

Visitors to the gallery can expect the unexpected, from MB&F Horological Machines and Legacy Machines to extraordinary Mechanical Ar t Devices carefully

curated from around the world. Highlights include Berlin-based artist Frank Buchwald’s ‘Machine Lights’, metallic sculptures by Chinese artist Xia Hang and kinetic creations by UK-based artist-engineer team Laikingland.

The MB&F M.A.D.Gallery Dubai is located in Warehouse H-81, Alserkal Avenue, Street 8, Al Quoz 1, Dubai. For further information visit madgallery.net

24 COVER STORY

WHEN YOU FIND THE RIGHT GEM, MAGIC HAPPENS...

“When you find the right gem, magic happens,” says Doris Hangartner, founder of the Swiss jewellery company that bears her name. And, if quality, cut, colour and clarity are at the heart of every piece, it is individuality and understated flair that set her bespoke creations and carefully sourced stones apart.

Based in Zurich, Doris works with select lapidary companies to track down the perfect stones, many of which have an unusual provenance. Master goldsmiths in Switzerland then bring all her clever designs to life; these might include, for instance, earrings with stones that can be interchanged to ensure they suit any occasion. Her goldsmiths also specialise in finding contemporary materials in which to set Doris’s favourite coloured gems, such as the bright blue and green Paraiba Tourmalines, mined first in Brazil in 1989 and more recently in Mozambique. Lavender blue ceramic makes the colours in a Tanzanite sing, for example, while matt-black carbon offsets a dazzling Mandarin Garnet.

Always sleekly elegant with a modern touch, Doris’s creations appeal to a more discerning buyer or collector. “You need to be a bit of a connoisseur to really know and appreciate what you’re wearing,” she says. “These gems are so fascinating, so intricate, they have these different colours and you need to know more about them and where they are from.”

Much of Doris’s inspiration comes from the stone itself, which dictates how it should be used. As a result, she’s both particular and determined when it comes to finding the right gem. One red Spinel was sourced from Mahenge in Tanzania after two years searching for a gem with the perfect warm orange-red flashes. Others come from closed or nearly worked-out mines, such as an Aquamarine from the original Santa Maria mine in Brazil, adding interest and rarity to its value.

“It’s all in the ingredients,” she says. “It’s like enjoying simple but very good food – imagine eating the freshest pasta with delicious tomato sauce. How does one gem resonate with another?

What enhances them? Which combinations are best?”

This deep appreciation has inspired other product lines that appeal to all five senses: first came a range of perfumes and scented candles, which was followed by a collection of handmade chocolates. Calming Peridot, uplifting Paraiba Tourmaline, fiery red Diamond or red Spinel, and warm Imperial Topaz are the starting point, with each creation attempting to capture the sensation that the gems provoke, such as a pop of vodka in the chocolate inspired by the invigorating colour of a Paraiba Tourmaline.

After sight, touch, scent and taste, Doris moved into the worlds of music and dance. She collaborated with dancers, choreographers and musicians to create the Gem Dance Collection’s first ballet with tango music, all inspired by the red Spinel. Doris has also collaborated with contemporary artist Lisa Sharpe,

whose paintings are matched to a particular gem. Together they have created “Gem Art Fusion”, appealing to those investors who also enjoy collecting loose stones.

At the heart of her approach is the individual and his or her affinity with a particular stone. “There’s the perfect harmony, a piece that’s completely in tune with your personality, with your presence,” she says. And that is when the magic happens. www.dorishangartner.com This article “Queen of the Stone Age” is an extract from the forthcoming official commemorative album to mark the 60th anniversary of the RollsRoyce Enthusiasts Club (RREC), published by St James’s House and being launched at Kensington Palace in London in December 2016, where Doris Hangartner will exhibit her gems & jewellery.

25 COVER STORY

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SPONSORED SPONSORED ARTICLE ARTICLE

Superb and possibly unique example of a Patek Philippe Nautilus ref. 3700/031, the wristwatch is crafted in platinum and with a diamond-set bezel. Part of the prestigious echelon of jewelled timepieces, the most exclusive and rarefied of Patek Philippe’s production, the wristwatch is offered with its original certificate, box and the original purchase invoice issued by the Salon Patek Philippe in Geneva on 24 August 1988. In May 2013, Christie’s sold the previously unknown Nautilus reference 3700/1 in platinum, which fetched the impressive amount of 783’000CHF.

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CHRISTIE'S

The Ever-Appealing Nautilus Watch: A 40 year Icon Forty years ago, the Nautilus was born. In today’s world of luxury contemporary watches, the Patek Philippe Nautilus is one of the shining stars, with immense collector appeal The Nautilus was born in 1976 from the talented hands of world-renowned watch designer Gerald Genta. In a career spanning more than 50 years, he designed watches for his own brands as well as world famous watch models still alive today, such as Omega’s Constellation (1959), Patek Philippe’s Golden Ellipse (1968), Audemars Piguet’s Royal Oak (1970), IWC’s Ingenieur (1976) and the Cartier Pasha de Cartier (1985).

Water resistant to 120 metres, the Nautilus was designed in honour of Captain Nemo’s submersible craft from Jules Verne’s novel Twenty Thousand Leagues Under the Sea. The design was based on the porthole shape of a transatlantic liner, with the wide bezels and “ears” on each side evoking the large hinges of the vessel’s watertight windows.

The case’s form led Patek Philippe to patent their ingenious new water-resistance system, where the watch becomes more watertight as external pressure on the case increases.

The use of stainless steel as the primary metal for most of the production models was also a very daring move at the time. In advertisements the new model was billed as “one of the world’s costliest watches made of steel”, a radical approach that challenged clients to question what constitutes the value of a watch.

Another unique aspect of the watch was its size. The model was introduced in a 42mm case and quickly gained the nickname “Jumbo” as it was considered oversized at the time – yet far removed from today’s norms of what an oversized watch would be.

Designed with clarity of form and function so breathtakingly bold and deceptively simple, the Nautilus became an enduring success, paving the way for sports watch design as we know it today.

Indeed, both the Nautilus and the equally iconic Audemars Piguet Royal Oak, designed in 1970, so intrinsically embody the DNA of their respective manufacturers that today they remain an essential in any vintage watch collector’s portfolio.

Patek Philippe’s Nautilus is imbued with practicality, luxury, ruggedness, elegance,

technical know-how and, above all, style. In the words of Patek Philippe “Nautilus will accompany you when you dive to 396 feet. Or when the occasion is formal or festive. Or when you set out to slay dragons in the boardroom. Nautilus and its owner are meant to be inseparable for life”.

With subtle updating over the years and a selection of new models added to the range, Nautilus still remains as fresh and contemporary today as it was 40 years ago.

From a collector’s point of view, discontinued references are without question the most appealing. Value takes into account the condition of the watch, the level of wear measured on how polished or not the example is, as well as the original accessories, certificate of origin and additional sales tag.

The ultimate collector’s hunt often goes towards a specific dial, gem setting configuration or even a double signature –which could range from a specifically made to request Nautilus for a distinguished client or a retailer’s signature, such as Beyer, Güblin or Tiffany & Co.

Christie’s is pleased to celebrate this important milestone in the history of an undisputed legend by offering a selection of 40 examples of the Nautilus in four auctions over four international locations throughout the last quarter of 2016.

Dubai – 19th October Important Watches incl Nautilus part I 100% SOLD Geneva – 14th November Rare Watches incl Nautilus part II Hong Kong – 28th November Important Watches incl Nautilus part III New York – 6th December Rare Watches incl Nautilus part IV Christie's Dubai Watch Specialists Team based in DIFC, Dubai, are available should you need assistance or advisory.

Above: Accompanied by its original Nautilus cork box, the Patek Philippe Nautilus model 3700/11 in stainless steel is rarely offered to the public. The production estimate of reference 3700-11 in stainless steel is approximately 1,200 pieces, far fewer than were made of the 3700/1. Sold for $52,500 in Dubai on 19th October 2016.

Below: This 18k yellow gold Nautilus ‘KHANJAR’ with the national emblem of the Sultanate of Oman, has never before been offered in public. The present Patek Philippe reference 3700/1 is not only amongst the rarest and most exclusive examples of a gold Nautilus ever offered at auction but is one of the scarcest of all Khanjar watches in existence. This solid gold Nautilus ‘Jumbo’, offered at Christie’s Geneva auction on the 14th of November, is in an excellent state of preservation with original ‘Swiss sigma’ dial exhibiting the first signs of mellow tropicalization found on some early and untouched Nautilus dials.

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SPONSORED ARTICLE

1 1. Omar El-Nagdi Sarajevo

CHRISTIE’S DUBAI A decade of success at art auctions in the Middle East In 2016, Christie’s Dubai celebrated 10 years of continuous business in the region. When Christie’s Dubai began its journey back in 2006, the vision was to internationalise the Middle Eastern art scene. Over the years, the biannual auctions have allowed Christie’s to create awareness, nourished by the enthusiasm and appetite of regional and international collectors, along with a keen interest from the public.

As a result, the Middle Eastern art scene is now viewed in a completely unique light.

To celebrate the 10-year milestone, Christie’s Dubai brought the general public two carefully curated sales of Modern & Contemporary Middle Eastern Art throughout the March and October editions of sales.

The heritage auction house unveiled a series of special treasures not seen in public for several decades. Christie’s team of specialists pursued unique pieces from faraway destinations such as Argentina, Las Vegas, New York, Delhi, Beirut, Tehran and Egypt to name just a few, sourcing works of art that have trekked with the first generation of buyers, artists’ close friends, collectors and sometimes diplomats who moved, immigrated or simply travelled – Christie’s Dubai was able to bring them back to the region.

Christie’s Dubai curated the first anniversary sale in March entitled “Now and Ten” showcasing the very best of modern art with masterpieces by leading pioneers such as Abdul Hadi El-Gazzar, Saliba Douaihy, Shafic Abboud, Louay Kayyali, Parviz Tanavoli and Manoucher Yektai amongst others. Alongside a strong section dedicated to modern art, the sales also featured contemporary artworks from artists including Monir Farmanfarmaian, Farhad Moshiri, and Hadie Shafie.

“Now and Ten” featured works from important collections such as the Esteemed Private Collection of Akbar and Sousan Seif Nasseri, which is comprised of outstanding pieces by Iran’s masters of modern art.

Further standout pieces included Shafic Abboud’s Les Cafés Engloutis from the Artist’s Estate and Mahmoud Saïd’s (1897-1964) Le Nil à El Derr (Nubie) from the Estate of the artist’s brother, Hussein Bek Saïd, which marked the much anticipated anniversary sale, culminating with Omar El-Nagdi’s monumental masterpiece entitled Sarajevo.

Following spring’s successful auction, the second sale took place in October where Christie’s Dubai offered a very important Iranian collection from the pioneers of the Saqqa-Khaneh

School entitled “Beyond The Fountain”.

The term ‘Saqqa-Khaneh’ was first used by art critic, journalist and lecturer at the Tehran College of Decorative Arts, Karim Emami (1930-2005) in 1962. The SaqqaKhaneh artists merged aspects of Iran’s vast cultural heritage with their contemporary artistic practices, re-inventing through this amalgam of symbols Iran’s visual lexicon. This pivotal moment in the early 1960s marked the beginning of modern Iranian art. To Christie’s surprise, all nineteen works from the SaqqaKhaneh School exceeded expectations and were sold.

Other museum-quality pieces at the auction included some outstanding examples by the Alexandrian master Mahmoud Saïd (1897-1964) – an almost life-size bust and hyper-realist portrait, in terms of its facial features but also in terms of expression, of an old ‘sheikh’ by one of the fathers of Modern Egyptian Art. Saïd typifies the artist’s unparalleled skill in capturing the essence of his sitters in his paintings.

Another powerful example was by the Lebanese painter Shafic Abboud (1926-2004), with his dazzling composition Les années de l’oiseau from 1979. The title refers to birds, one

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SPONSORED ARTICLE

2

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of the painter’s recurring and personal themes.

At the end of these two successful seasons, the auction house was pleased to add 26 additional artist records, including a new record for Dia Al-Azzawi (Iraqi, b. 1939), currently showing at the Mathaf, Arab Museum for Modern Art in Qatar; Ismail Al-Sheikhly (Iraqi, 1924-2004); Shafic Abboud (Lebanese, 1926-2004) who registered the top lot of the recent Modern Art auction, Zoulikha Bouabdellah (Algerian, b. 1977), Athier (Iraqi, b.

1982), Mohammed Kazem (Emirati, b. 1969), and Muhanna Durra (Jordanian, b.1938).

Across both sale seasons in March and October, Dubai’s sell-through rates showed strength and stability, reflecting a continued growing

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2. Shafic Abboud Les Cafés Engloutis 3. Illustrate One Sakkashaneh Work 4. Illustrate Mahmoud Said Le Vieux Sheikh 5. Shafic Abboud Les années de l’oiseau, 1979

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interest in the arts. Raising $18,459,002 in 2016 for the art sales, out of which are 82% selling by lot and 92% selling by value.

Participation in all sale categories was truly international, with buyers as far away as Sweden and California bidding on some of the same lots.

And to finish with another dimension of Christie’s operation in the region, the auction house has proudly supported numerous charities in the region helping to raise more than $25 million for charitable causes.

The next Christie’s Dubai sale of Modern & Contemporary Middle Eastern Art will take place at the Jumeirah Emirates Towers Hotel in Dubai on the 18th of March followed by the Important Watches sale on the 19th of March 2017.

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How to invest in art – buying what ‘you like’ pays dividends Art investment can look daunting, but good advice and modest capital will get buyers into the market without the need to be an aficionado

When The Wall (Oh Persepolis), a 1975 bronze

by Parviz Tanavoli sold for $2,841,000 in 2008 it set a still-standing world record price for the artist at auction and earned Christie’s – the auctioneer – the record for the most expensive Middle Eastern work of art sold under the hammer. It was the kind of headline-grabbing sale that makes investing in art both enticing and intimidating.

Despite art’s potential for attracting attention to singular instances of outstanding gain, the truth of art as an asset class is more varied, more accessible and more inclusive than such stories might suggest. In the Middle East, the art market has matured rapidly over the last decade thanks to art fairs – Dubai’s own Art Dubai has just celebrated its 10th anniversary - a sharp growth in the number of small galleries and the establishment of major regional museums driven by sovereign wealth and cultural ambition.

“Considering where we were 10 years ago, great progress has been made,” says Michael Jeha managing director of Christie’s Middle East.

“The depth of buying, over the last decade, has increased significantly.”

Jeha believes more and more collectors from around the world are buying Middle Eastern art, increasing international and institutional participation in the local market.

This has seen an increase in international museums collecting Middle Eastern art and regional artists being represented by local and international galleries. This globalisation has given collectors from the region similar tastes to their international counterparts.

“I often get asked, are there differences between collectors in the Middle East versus internationally,” says Jeha. “I think the answer to that is now ‘no’. The tastes have become very similar and they ask the same questions.”

There is though a discernible difference between those who buy art for reasons of passion and aesthetics - who Jeha says are still in the majority – and those who look at it purely as an asset class – asking questions about value, price points and predictions of future performance. It is a difference that reinforces an old adage about buying art.

“The irony is that those who are buying what they like tend to make the best investments,” he says. “Whereas those who focus,

specifically, on investment often find it harder; so, we always advise people to buy what they like first and foremost.”

Like any asset class, art has its pros and cons. In the post-financial crash world, retail investors fled bewildering securitised debt obligations and headed to tangible assets; things they could understand, see and touch - with white gloves on of course. As an asset, art has benefitted from sustained low interest rates. This has driven investors to look beyond traditional vehicles for a chance at reasonable returns. But, like any other market, art is cyclical.

Unique characteristics can also give art investors several points of which to be wary.

Art is notoriously illiquid, so has longer holding periods. Jeha suggests clients shouldn’t try to sell a piece on for at least three years, but holding on for a decade or more is common.

In the absence of daily trades and tracking on a bourse, art prices are also opaque compared to an exchange traded equity. And because art can make for a more emotional purchase it is harder to predict potential performance – which could easily be skewed by the mood of a saleroom or febrile competition between rival bidders.

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INVESTING IN ART

Add on the costs associated with appropriate storage or display, the price of insuring works and even the potential challenges of transporting them – imagine the weight of Tanavoli’s nearly two-metre tall bronze – and there is much to consider with any purchase. Professional advice is a necessary starting point for the beginner and still sound practice for even the most experienced investor although ‘millennial buyers’ are increasingly buying online.

“A new investor or someone who is looking at art as a first-time buyer needs to be guided,” explains Kaneka Subberwal, a passionate collector turned professional exhibition director.

“It’s not because you shouldn’t be buying what you like, but there are consultants who are very well equipped to direct you to balance ‘like’ versus the safety of your capital, and that’s what I think a first timer needs to look out for.”

Subberwal, who has just taken a collection of 50 pieces from 17 contemporary Bahrainbased artists on an exhibition tour to London, believes the region is gaining both sales and exposure for its artists, factors vital to boosting their value as investments.

“Art is something that has always been an investment,” she explains. “Today you look at the Middle East and people are actually realising its value as an asset class, and I think that just comes from the sheer fact of a rule that I use for myself, and I recommend to investors: original art is one of the few assets that cannot be replaced.”

Advisors can take a passing interest in the asset class and turn it into a sound investment, regardless of a person’s personal engagement with the subject matter. Specialist providers create funds for art investment operating much like any other financial fund, but can also delve into more detail if investment decisions start to become tinged with passion. The Fine Art Fund Group started out offering private equity-structured financial vehicles, but gradually morphed into a provider of more bespoke services and has managed more than $300m in assets over the past dozen years.

“We created a hybrid ‘managed art portfolio service’ whereby we work with our clients to build a collection of art that they can enjoy, or lend to a museum – we only look at museumquality blue chip art - or store so it can act purely as an asset with the opportunity for long-term capital growth,” explains Salma Shaheem, head of Middle Eastern Markets at the group.

In creating a portfolio the fund draws down cash from an investor per acquisition, so monies are not locked in until a piece is

purchased. Purchases are considered in the context of creating balance within a portfolio and the whole process is subject to independent audits from KPMG and valuations from the likes of Christie’s and Sotheby’s. Shaheem says her clients span a spectrum of interest in the works themselves.

“We've got clients that say: ‘Look, here's $500,000, let's talk next quarter. I'm not interested in art, I just see the benefits of investing in it.’

We also have clients that say: ‘You know I was in New York with my wife and this beautiful painting spoke to me and I just want to buy it, what do you think?’ They start to kind of get their hands dirty.”

The buying process employed is one independent investors could readily learn from. The Fine Art Fund Group’s considerations include looking at who represents the artist, who else is collecting their work, which institutions such as museums and galleries are in the market for the same artist and who is writing about them. Detailed data from auction reports adds to a piece’s scorecard, as does market intelligence about an artist’s upcoming loans, prizes or exhibitions – all of which can favourably influence future value. So much so that Shaheem actively encourages clients to lend their best pieces for exhibit.

“I always encourage lending,” she explains. “If I find that there is an opportunity for a piece of art to go to a museum somewhere I highly recommend it. It’s great for its provenance and for its value.” Follow this investment framework, excuse the pun, and you too could develop a collection that includes work you love and at the same time boosts your wealth.

“The irony is that those who are buying what they like tend to make the best investments.”

– Michael Jeha

2. Painted in 1929, The Whirling Dervishes by Mahmoud Said was bought for $2,546,500

“There are consultants who are very well equipped to direct you to balance ‘like’ versus the safety of your capital.”

– Kaneka Subberwal

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INVESTING IN ART

GENERATION Y (18-35 YEARS OLD)

Online habits of art-buying millennials

Start-up collector Meagan Kelly Horsman, director of business development at Dubai’s Meem Gallery highlights key advice for investors in the local art market

When starting a collection, it is imperative to do your research and create a plan for the type of work or works you would like to acquire. Some people don't have the time to embark on huge research projects, in which case they should hire an art advisor, or gallery director, to help guide them and negotiate purchases.

Collectors often like to see workmanship – so paintings, installations and sculptures are often considered attractive, due to the labour-intensive nature of the work. Saying that, many collectors also enjoy more conceptual exhibitions and art works. In which case, they really look to the curating of the space to add value. An artist’s exhibition history and future trajectory are important too.

It is remarkably difficult to speculate on the art market and I never advise it.

You should consider art as a longer-term investment. You really ought to only buy the work if it means something to you, as at least 75 per cent of contemporary art works you see at art fairs and galleries will be not be represented in the market in 20 years time. Buying carefully, with advice from industry professionals, is the best option. Also, consider looking at more established sectors of the market – modern art, for example. I would describe the 2016 market as sophisticated, more transparent and steadily strong – especially in the modern Arab art sector.

Percentage 46% who buy art 54% online

Yes No

19%

Made their first ever art purchase online (up from 9% in 2015) highlighting just how important the online art market is for firsttime buyers in this age group PERCENTAGE WHO WERE REPEAT BUYERS IN LAST 12 MONTHS 42%

5% 27%

Buying intentions for next 12 months

No

Yes

58% 49% made between two and five purchases in the last year 68%

WHY DO THEY BUY ART? 92%

Emotion Investment

Will buy more Will buy less Will buy the same

Identity/status

57% 44%

NUMBER OF PLATFORMS BOUGHT FROM AND WHICH DEVICES USED 1-3 platforms

14%

40%

Prefer: online versus offline

No preference Offline Online

Infographics: Tarak Parekh

2-3 platforms 46%

85% 54%

10% 3-5 platforms 16%

Mobile

Desktop/laptop 16%

Tablet

82%

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INVESTING IN ART

TOP THREE REASONS FOR CHOOSING A SPECIFIC ONLINE ART PLATFORM

WHAT DO MILLENNIALS BUY ONLINE?

81% Fine Art

48% Jewellery

23% Wine

61% Decorative art and design

ONLINE PLATFORM LOYALTY

35% Antiques

25% Very or always loyal

42% Sometimes loyal

Quality TOP THREE REASONS WHY MILLENNIALS WOULDN'T BUY ONLINE

SOCIAL MEDIA USAGE OF BUYERS (Top three) 65% Instagram 60% Facebook

Searchability/ navigation

Physical Inspection Worried that the work will look different in real life

Condition Not able to inspect the physical condition

28% LinkedIn

Quality Not enough information provided about quality

THOUGHT LEADERS (Top three social media influencers)

WHAT COULD HELP CONVINCE YOU TO BUY ONLINE?

79% Museums

Reputation 66% Artists Condition report of artworks

Certificate of authencity

30-day return guarantee

68% Galleries

Source: The Hiscox Online Art Trade Report 2016

36

Meet Lucy Chow, founder of The Elements Group

THE

ENTREPRENEUR FILES

WOMEN IN BUSINESS

An expat for almost 25 years, Lucy was born and raised in Vancouver before moving to Hong Kong to fill the role of Senior Vice President at HSBC, a title she held for a decade before moving to Dubai.

Lucy holds an EMBA from Kellogg Graduate School of Management Northwestern University and HK University of Science & Technology, as well as a BA in International Relations from the University of British Columbia.

In the ten years since first arriving in the UAE, Lucy has garnered a strong reputation with an impressive track record of business-focused events for both financial clients and luxury brands, in addition to her tireless philanthropic efforts and position on numerous networks and boards across the region.

You moved to Dubai from Hong Kong after a 10-year tenure as Senior Vice President at HSBC. At what point did you join Capital Club Dubai and was the club helpful in making either business or social contacts?

My husband and I joined almost immediately upon landing. The club has been a big contributor towards making me feel that I’m an integral part of the business fabric within the UAE. It wasn’t voted by CNN as one of the best business clubs in the world for no reason. We have also made some very good friends as a result of being members.

What does your role on the Events Committee at Capital Club Dubai entail and in your opinion what have been some of the most successful events since you became a member?

I have been so privileged to be on the Events Committee at Capital Club Dubai. The entire committee meets quarterly and we take a look at what events are planned and what should be included. We individually tap into our own spheres of influence to ensure we bring out speakers, moderators and indeed relevant audience members when required.

I drive the amazing events team crazy with my ideas, whether it’s delving more into the understanding of Bitcoin, or debating whether the UAE can be the next Silicon Valley.

I am proud the Capital Club is the natural host for tough and informative dialogue to take place.

Hosting what we hoped was going to be a ‘celebration’ of Dubai being named the Expo 2020 host city was a big highlight. The club had screens everywhere and all of the region’s media were present for the big announcement – what a celebration that was.

While I do believe our events are second to none in the city, the secret to success at the club is not always related to the events. It is simply walking in and feeling immediately at home, seeing the captains of industries on different floors and noting what important meetings and/or presentations are being held in our second floor meeting rooms.

The club is not simply a hub for business. It is also a very social place, full of amazing culinary, tasting and fashion events, bringing people together.

What prompted you to start up The Elements Group?

Ten years ago my husband was asked to start a new office for Mclagan Partners – coincidentally we had just visited the UAE on a holiday a few months prior, without knowing we would be asked to move here. Realising I would have no real network (we had been in Hong Kong as expats for a total of almost 10 years and all my contacts were from there), I joined the Capital Club.

I also asked everyone I knew to introduce me to one person they knew in Dubai – everyone knew someone in Dubai and I ended up with 100 introductions. I reached out to those 100 connections and to this day we have life-long friends as a result of those initial introductions.

I represented three different companies before I decided to set up The Elements Group and in my business plan I said I wanted to create a company that would stage events which I felt were lacking.

I was keen to give our clients and experts the platform to share their stories with a wider business community and also help brands promote their philanthropy or charitable programmes. I feel very fortunate that I’m able to do this via a number of channels today including The Elements Group and sitting on the Events Committee for Capital Club Dubai.

Your client roster ranges from financial companies to luxury brands, who have been some of your most memorable clients so far?

I very much enjoyed working for MontBlanc, UBS and

37

WOMEN IN BUSINESS

Eureeca to name a few. I am naturally curious so it suits me to work with a myriad of different clients in different sectors. I also do select work gratis mainly for non-profits that I support.

Aside from your role at The Elements Group, you’re active within numerous other groups and initiatives; can you tell us about your other work?

Being in the UAE has provided me with an immensely rich experience and a wealth of opportunities. I have started various chapters of international organisations here, sat on boards and been at the coalface when it comes to the advancement of women.

For example, I sit on the boards and was one of the initial founder of WAIN, Women Angel Investors Network, and I’m an active member of the 30% Club GCC, which is focused on ensuring more women reach senior positions and eventually the boardroom. I also co-led the Onboarding Working Group for two years and still support the group.

It has been very fulfilling to engage with firms around the GCC who are committed to promoting more women into senior roles. I have been privy to these opportunities (through various initiatives) because of the people I met during my time here and the reputation I have built over the past decade.

You also co-headed the UAE Ellevate Chapter for eight years, which made a big impact with women in business by allowing them to access relevant seminars and forums. How was this experience?

Many years ago we realised that quite a few Fortune 500 firms had women-led initiatives within their organisations. I decided to organise a cocktail event to bring a number of female groups together under one roof.

For those who attended, it was, a highly memorable occasion because we were gathering as a community for the first time, versus each doing our own separate events.

As a businessperson, I know it is important to keep current with the best business practices and to actively be present at events that lead to strong business outcomes. The UAE government focuses on ensuring there is diversity in their event calendar and it works with the tourism sector to ensure an attractive proposition for international attendees.

We have famous authors, speakers, country heads coming through the UAE – the access is second to none. The Ellevate network is still an amazing organisation to be a member with.

“THERE ARE NOW A MYRIAD OF TRADE ZONES WHERE ONE CAN REGISTER A COMPANY AND PEOPLE ARE VERY OPEN TO HELPING EACH OTHER IN THE UAE. TAKE ADVANTAGE OF THIS WONDERFUL ECO-SYSTEM.” You co-founded the Women Angel Investors Network in Dubai, what is your take on female entrepreneurship within the UAE in the current climate?

Funding and investment for early stage entrepreneurs is difficult, but women are able to build very successful businesses in Dubai. For example there are a lot of interesting funding initiatives targeted at the region, such as The Venture – a fund which is searching the world to invest in startups that are using business to create positive change.

Financing is tough to come by and that is why we started WAIN, specifically targeted at women led businesses in the GCC. In addition to all of the above, you also work with a number of charities and are known for your philanthropic pursuits. What are some of the causes at the forefront of your humanitarian efforts?

I co-chaired the UAE Room to Read Chapter when I first landed in Dubai. My husband and I are still partners with Acumen, a non-profit

global venture fund to invest in companies, leaders and ideas to change the way the world tackles poverty.

For the past two years I have sat on a panel which interviews and shortlists Acumen Fellows for the past two years. The Acumen Fellows programme trains the next generation of social impact leaders. It’s a truly life changing programme for those fortunate enough to be chosen.

I was also on the Board of Educate Girls Globally, a non-profit based in San Francisco, for two years. Educate Girls Globally (EGG) has developed a new strategy for educating and empowering girls in high poverty areas where cultural and social traditions hold women and girls back from realising their potential. Working at high scales and impact, but at low cost, EGG partners with governments and communities to reform government schools. By leveraging government investments already allocated to education, the programme promotes systemic change, empowering girls to gain voice and choice and become more actively engaged and productive citizens.

I am passionate about causes that involve education, children and social enterprises which empower and inspire entire communities.

What advice would you share with fellow entrepreneurs and start-up businesses in the UAE? Take advantage of your time in the UAE. If you have a business idea or want to ‘test the waters’, do it while you are here in the region where the access to people and resources is very conducive for start-ups and entrepreneurs. There are now a myriad of trade zones where one can register a company and people are very open to helping each other in the UAE. Take advantage of this wonderful eco-system.

38

BUSINESS CLUBS

SIGNATURE CLUBS INTERNATIONAL From Dubai to Africa, discover the premier private business clubs connecting members across the world Signature Clubs International (SCI) owns, develops and manages premier private business clubs. SCI is owned by ENSHAA, a large private UAE-based development, investment and hospitality company which owns Palazzo Versace Hotel Dubai and other assets.

SCI is currently operating Capital Club Dubai in the DIFC, Capital Club Bahrain in the Financial Harbour in Manama, Capital Club East Africa in Nairobi and the Private Banking Club at Qatar Fist Bank in Doha. The clubs are exclusively designed to meet the demands of those from the top echelons of business, finance and government by offering an elegant and welcoming ambience and the opportunity to network and entertain guests.

The Capital Clubs are committed to being a unique facility supporting the business community and providing the highest levels of comfort and cuisine, exceptional events and an unmatched level of personal service.

SIGNATURE CLUBS IS COMMITTED TO THE HIGHEST STANDARDS OF QUALITY AND SERVICE, BALANCING THE NEEDS OF MEMBERS FIRST, GENERATING A FAIR RETURN TO SHAREHOLDERS AND CONTRIBUTING TO THE COMMUNITIES IT SERVES.

THE SIGNATURE ADVANTAGE

An outstanding board of governors

Exceptional locations in grade A developments or districts

Exclusive membership “By Invitation Only”

Elegant, comfortable, contemporary and connected

Selection of events and entertainment that bring members together

Experienced management and highly trained staff

Each member enjoys use of over 250 clubs in 50 countries

Club teams and club portals help members connect

With the mission to be the leading private club company in the Middle East and Africa and to establish the finest clubs for the leaders of the region, Signature Clubs is committed to the highest standards of quality and service, balancing the needs of members first, generating a fair return to shareholders and contributing to the communities it serves.

Respecting the grand traditions of business club development, including the formation of a

prestigious Board of Governors and committees that guide the formation of the club, the investment in our management and staff as well as our premises, Signature Clubs are institutions that exist for the benefit of the cities and communities they serve.

Each club supports worthy causes, hosts quality events and enhances idea exchange, international links and business relationships.

THE SIGNATURE SERVICES SCI brings management capability and years of know-how to the operation, development, ownership, launch and turnaround of high quality clubs. SCI’s involvement often starts with consulting services to help developers assess the market, conceptualize their vision and build the optimum club.

Thereafter, SCI helps to chart the way forward, assist delivery and then manage and market the club under long term agreements.

39

BUSINESS CLUBS

CAPITAL CLUB DUBAI Capital Club Dubai, rated by CNN as one of the top 10 most exclusive clubs in the world and as one of the top 10 private clubs in the world by Business Insider CLUB OVERVIEW » Located at the heart of Dubai International Financial Centre » 45,000sq.ft. of luxurious club premises » Opened in March 2008 » 1400 members FACILITIES » Elegant lounges » Variety of dining options » The members bar » Private meeting rooms » Conference meeting rooms » Fitness centre » Bedroom suites » Valet parking services » Calendar of special events including social, corporate events and business

CAPITAL CLUB BAHRAIN

CLUB OVERVIEW » Located within the prominent Bahrain Financial Harbour East Tower, levels 51 & 52 » 20,000sq.ft. of luxurious club premises » Opened in June 2009 » Over 800+ members FACILITIES » Elegant lounges » Signature dining » The members bar » Private meeting rooms » Conference meeting rooms » Valet parking services » Members’ social and corporate events » Calendar of special events and business forums » Private parties and business function events

40

BUSINESS CLUBS

CAPITAL CLUB EAST AFRICA CLUB OVERVIEW » Located at Imperial Court in Westlands, Nairobi’s fastest-growing business district » The club occupies the rooftop and levels 5 and 6 » 29,000sq.ft of luxurious club premises » Opened in December 2013 » Over 600+ members to date FACILITIES » Elegant lounges » Exclusive Signature dining » Members bar » Roof top bar and lounge » Roof top grill » Private dining rooms » Conference meeting rooms » Fitness centre » Valet parking services » Variety of special events and business forum

CAPITAL CLUB WEST AFRICA CLUB OVERVIEW » Located on Ahmadu Bello Wayon Victoria Island » The club occupies a mansion house and single story building » 27,000sq.ft of luxurious club premises » Opening in July 2017 FACILITIES » Elegant lounges » Exclusive Signature dining » Members bar » Cigar lounge » Roof top Gardens and courtyard » Roof top grill » Private dining rooms » Conference meeting rooms » Events space » Variety of special events and business forums

FUTURE CLUBS CAPITAL CLUB CAIRO Will be based in part of the 4 Seasons Nile complex. Located in the heart of Old Cairo and in one of the most prestigious properties the complex fits the requirements of the Capital Club perfectly. SCI also has an option to manage a large gym adjacent to the space for the Capital Club.

CAPITAL CLUB JOHANNESBURG Will be based in Santon City. SCI has been approached by a group of business executives who want to be investors in the Club and will visit the market to start Due Diligence in Q3 2016.

42

THE STAY

43

THE STAY

THE SUITE LIFE Book into your home away from home at Capital Club Dubai’s luxurious city suites

Situated in the centre of the city within DIFC’s Capital Club, a host of elegant suites await, serving as the perfect base for your trip to Dubai. From members looking for a deluxe retreat in the emirate to those travelling on business, the club has welcomed a variety of guests over the years.

Available to members and their guests, the four spacious Junior Suites feature sumptuous furnishings, plush king-sized beds topped with bespoke Italian linen and sleek, modern bathrooms – complete with walk-in rain showers and oversized bathtubs. The rooms also come fitted with huge flat screen televisions and Bose entertainment systems.

Allow yourself to unwind as our 24-hour butler service take care of your every whim, from breakfast in bed to bookings at restaurants.

You and your guests will also have full access to Capital Club Dubai’s facilities during the stay, including the state-of-the-art D5 Executive Gymnasium, Wi-Fi-equipped lounges and selection of restaurants and bars.

In addition to this, the Capital Club’s inhouse Member Services Team will be on hand to assist with any special requests you might have throughout your stay.

For reservations and further details contact our Member Services Team on e-mail at member.services@ capitalclubdubai.com

44

THE TRIP

NEW YORK:

Bright lights, big city A fast-paced pulsing city brimming with culture, architecture, parks and a seemingly never-ending array of restaurants and bars, it’s little wonder that New York is continuously ranked among the world’s most-visited cities.

1

From the vibrant neon lights of Broadway to the lush green landscape of the High Line and Central Park, The Empire State is a multifaceted destination filled with thrilling travel opportunities for both business and leisure.

THE SIGHTS While New York is a year-round destination, as the snow falls during December the city is transformed into a winter wonderland. Brace the chilly temperatures and bundle up for a trip to Central Park where you can enjoy a spot of ice-skating at Wollman Rink. Central Park is also home to a 6.5-acre zoo and aquarium housing a variety of exotic species from snow leopards to sea lions.

Throughout the festive months, visitors can also marvel at Rockefeller Plaza’s famous Christmas tree that towers above the ice rink. If you’re heading to the city for New Years Eve, join the masses to watch the lighting and raising of the New Year’s Eve Ball atop One Times Square, followed by live musical performances by big big-name acts.

No trip to New York is complete without tickets to see a musical or play on Broadway. This year top shows include Jersey Boys, Beautiful: The Carole King Musical and the Tony-Award winning Chicago.

2

RETAIL THERAPY If hitting the shops is top of your itinerary, there’s no better place to indulge in retail therapy than The Big Apple. Harry Winston, Salvatore Ferragamo, Henri Bendel and Bergdorf Goodman are just some of the high-end stores that dominate 5th Avenue, while over in SoHo you will find dozens of unique boutiques and market stalls selling fashionable threads, trinkets, art and books.

CULINARY HIGHLIGHTS A recent study from Fitbit revealed New Yorkers walk an average of 10,000 steps a day, making The Big Apple one of the fittest states in America. With all that walking, the city’s inhabitants certainly know how to refuel and the culinary options are endless.

The Spotted Pig in Manhattan’s West Village is a popular draw and somewhat of a “hot spot” offering gastro-pub plates such as chargrilled

45

THE TRIP

4 1. Sunrise – New York 2. Ice-skating at Wollman Rink 3. Keens Steakhouse 4. High-end stores that dominate 5th Avenue 5. Bemelmans Bar 5 3

THE CORE CLUB Part of Capital Club’s reciprocal club network

burgers, rabbit rillette and seared mackerel.

Some of the best eats in the city can also be found at the sidewalk carts selling freshlybaked pretzels and hot dogs. Albeit not the healthiest choice, one can’t go to the city without taking a trip to Rubirosa on Mulberry Street, a family-owned institution serving up some of the best pizza slices in the city.

On the gastronomic front, Keens Steakhouse is a cosy 130-year-old restaurant complete with wood-panelled rooms and fireplaces. Offering some of NYC’s finest sirloins and mutton chops, Keens is a long-standing favourite in the city and was once a regular haunt of J.P. Morgan and Teddy Roosevelt.

COCKTAIL HOUR Staying true to its name of “The city that never sleeps”, New York is renowned for its nightlife. Here you’ll discover authentic jazz bars, ritzy clubs, themes lounges, pubs, underground cocktail bars and so much more. For mixologist-approved cocktails, head to the iconic Bemelmans Bar’s – an upmarket piano bar decked with murals by the artist it was named after.

We also recommend trying your luck at La Esquina in SoHo. Upon entering, this deceiving joint appears to be a late-night taco café, but make your way down the stairs and past the eagle-eyed doorman and you’ll discover a dimly-lit subterranean brasserie, bar and club filled with a fashionable crowd.

Members of Capital Club can gain access to our reciprocal club, The CORE Club, located on East 55th Street just a stone’s throw from the Museum of Modern Art and Rockefeller Plaza.

Here, members can experience a host of exclusive benefits and attend one-of-a-kind cultural events at the art-filled space. Other privileges include access to The CORE Club’s concierge team, Zoomtion fitness centre and Paul Labrecque Spa and Salon, which also accommodates a specialised skin institute founded by beauty expert Dangene.

Whether visiting for breakfast, lunch, dinner or anything in-between, as a member you can also experience the incredible cuisine at the CORE: restaurant led by the Master Chef of France, Bernard Liberatore.

The CORE Club also acts as the ideal home away from home with a selection of luxuriously furnished suites available for both short or long stays.

For more information visit thecoreclub.com

46

TECHNOLOGY

1

47

TECHNOLOGY

FIVE TECH TRENDS AT THE FOREFRONT OF OUR DIGITAL FUTURE The technology poised to transform the world in meaningful ways AUTONOMOUS TRANSPORTATION GOOGLE SELF-DRIVING CARS We may not have jetpacks yet, but when it comes to transport of the future we are pretty close to robot chauffeurs who will whisk you from work to home while you kick back and watch Netflix in the back seat. Google is leading the charge in the self-driving car space, and while the prototype that it revealed in 2014 (which has been spotted zipping around streets in suburban San Francisco) was only the start, Google’s next tester car for the self-driving project will be a joint venture with Chrysler for a completely autonomous minivan.

While a self-driving minivan might not sound as sleek and futuristic as one might hope, the partnership with Fiat Chrysler – the first time Google has worked with a car maker on the project – will allow them to get a lot more tester cars on the road very quickly. Fiat Chrysler will custombuild the vans to allow Google to more easily implement its self-driving computer and sensors, allowing them to collaborate closely and helping both teams to better understand how to create a fully self-driving vehicle that can take you from A to B with the touch of a button.

Once they nail this first step, the potential to scale this technology up to other modes of transport can’t be too far behind. Imagine summoning an Uber via your smartphone only to have a completely driver-less car show up. Or long haul cargo trucks 3

2

that autonomously travel from depot to depot, automatically pulling into charging stations when their batteries start winding down. The future of transportation is self-driving and it’s coming sooner than we think.

MIXED REALITY MICROSOFT HOLOLENS While Virtual Reality has been making huge waves in the gaming space thanks to the HTC Vive and PlayStation VR, Microsoft has been hard at work on its own interpretation. Enter HoloLens – less of a product designed to transport users to virtual gaming worlds, this space-age looking visor aims to help augment the world around you by projecting digital images, video and models into your field of view,

1. Google’s selfdriving car 2. Fiat Chrysler will provide Google with Chrysler Pacifica minivans to be outfitted with driverless technology.

3. Microsoft Hololens

48

TECHNOLOGY

while still allowing you to see the real world at the same time.

It does this thanks to a bevy of sensors embedded into the headset including depth sensors, a camera, a microphone and a unit that houses an accelerometer, gyroscope and magnetometer. This is all powered by a custom processor that Microsoft has designed to handle all the sensor data and spatial mapping, and is powerful enough to process terabytes of information in real time.

Applications of the HoloLens are well beyond standard computers: Skype conversations, whiteboards, weather apps and more can all be used to augment spaces with information and entertainment. And that is just the tip of the iceberg. In practice, this means being able to do things like summon a virtual screen playing a film, right in front of your eyes, or virtually redecorating your home with digitised furniture before deciding to purchase it. Or perusing the vegetable aisle of your grocery store and having pricing and nutritional information dynamically display next to produce.

The possible applications are wide and far

4

THE USER SIMPLY TAPS A BUTTON ON THE LEFT-HAND CORNER OF THE SUNGLASSES TO RECORD A 10 SECOND VIDEO (WITH MULTIPLE TAPS TO INCREASE RECORDING UP TO A MAXIMUM OF 30 SECONDS) AND THE FOOTAGE IS AUTOMATICALLY TRANSFERRED TO A SMARTPHONE VIA BLUETOOTH READY FOR POSTING TO SOCIAL MEDIA.

4. Spectacles are modeled after the iconic Wayfarer design 5. ZMorph 2.0 SX’s unique plug out, plug in and work system allows for easy switching of a variety of toolheads 6. Samsung’s first wallet-like foldable phone, which creates a small pocket for the display to bend without creasing

reaching – earlier this year Microsoft showed off a demo they called Holoportation that effectively allows users to teleport their presence into a 3D space for a HoloLens wearer to view and interact with, blowing the door wide open in the worlds of teleconferencing and even travel without ever leaving your couch. The HoloLens is currently available to developers with no fixed retail release date.

SOCIAL MEDIA SNAPCHAT SPECTACLES Social media affects all aspects of our digital lives and one trend that has permeated across the social networking space is video. From live broadcasting on platforms such as Facebook and Twitter, to the unending stream of amusing cat clips on YouTube, video is the future of how we create and consume content, and one company – Snap Inc, known for its hugely popular social network Snapchat – has plans to own it with this nifty little gadget.

Called Spectacles, these statement sunglasses are modeled after the iconic Wayfarer design, with one major difference – they include a camera nestled into the corner of each lens.

These cameras are equipped with a 115-degree sensor, designed to approximate standard human vision. The user simply taps a button on the left-hand corner of the sunglasses to record a 10 second video (with multiple taps to increase recording up to a maximum of 30 seconds) and the footage is automatically transferred to a smartphone via Bluetooth ready for posting to social media.

Naturally, privacy concerns immediately set alarm bells ringing, and Google struggled with this exact same challenge with its (now defunct) Google Glass prototype. Snap Inc says they plan to combat any cause for concern by having the Spectacles activate an outwardfacing light that will turn on when recording, while another inward-facing light turns on to remind the user that they are filming. Whether this will be enough is something that users will make up their minds about when the product comes to market later this year, but the potential to disrupt the standard model of point-and-shoot smartphone video creation has implications far beyond just a simple pair of sunglasses and into the kinds of tech that we find acceptable to record and share our lives as they happen.

49

TECHNOLOGY

SMARTPHONES SAMSUNG FLEXIBLE SCREENS We’ve reached peak smartphone. That is to say, the 5-or-so-inch slab of metal, glass and plastic you carry around in your pocket or purse has just about become all it can be. With only ever increasing incremental upgrades setting apart the leading manufacturers, everyone is left waiting to see what the next great innovation in smartphone technology will be.

Samsung thinks it might have cracked it with some pretty ambitious plans to introduce a foldable phone sometime in 2017.

At the SID Display Week conference in San Francisco earlier this year, the Korean tech giant showcased a number of flexible screen prototypes that showed one potential future for smartphones. The device included a flexible 5.7-inch AMOLED display that could be lightly twisted and tweaked without creasing or losing shape. It could be the screen we find inside Samsung’s first wallet-like foldable phone, which creates a small pocket for the display to bend without creasing. When opened up, the single smartphone display is perfectly flat and clear again, like it’s never been bent.

We’re a long way off from this tech being commercially available, but this would allow for smartphones that you could fold away into your wallet when not in use, or even potentially the ability to build a phone directly into an article of clothing that can twist and stretch along with the fabric.

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EVERYTHING FROM STANDARD PLASTICS TO CERAMICS TO CAKE (YES, THE TASTY DESERT KIND) IS FAIR GAME. IT EVEN HAS NOZZLES BUILT SPECIFICALLY FOR ENGRAVING AND LASER CUTTING WHICH OPEN UP FURTHER MANUFACTURING POSSIBILITIES. 3D PRINTING ZMORPH 2.0 SX 3D-printing is the future. Everything from medical orthoses to haute couture is possible,

6

printed from the comfort of your living room without the need to invest a small fortune in industrial-sized tools. One company at the forefront of this is ZMorph with its all-in-one personal fabrication solution.

The ZMorph 2.0 SX looks like it wouldn’t be out of place on the International Space Station, and its unique plug out, plug in and work system allows for easy switching of a variety of toolheads giving it incredible flexibility in the sorts of materials that it can tackle.

Everything from standard plastics to ceramics to cake (yes, the tasty desert kind) is fair game.

It even has nozzles built specifically for engraving and laser cutting which open up further manufacturing possibilities.

Via its website, the company has illustrated projects created by customers which vary from jewellery to fully functional mechanical clocks, proving that the next industrial revolution starts not in the factory, but in living rooms across the globe.

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UAE PROJECTS

1. The Tower at Dubai Creek Harbour will soar above the Burj Khalifa (828 metres) as the tallest building in the world.

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UAE PROJECTS

DUBAI CONTINUES TO PURSUE ITS SKY-HIGH AMBITIONS

Iconic buildings added to the city's impressive skyline Dubai prides itself on having the world’s tallest tower (Burj Khalifa), the world’s most visited mall (The Dubai Mall), the only ‘seven star’ hotel in the world (Burj Al Arab) and the busiest airport for international visitors (Dubai International Airport).

Despite these achievements, the city has remained far from complacent and continues to pursue ambitious goals with the aim to constantly remain on top. Its latest project is – quite literally – the best example to illustrate this.

In October, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, launched the construction of what is slated to become the world’s new tallest building – The Tower at Dubai Creek Harbour.

When completed in 2020, the tower will soar above the Burj Khalifa (828 metres) as the tallest building in the world. However, the exact height of the new building has not yet been disclosed.

The $1bn mixed-use building will form the centerpiece of the 6km2 Dubai Creek Harbour waterfront master-development, a joint venture being developed by Emaar Properties and Dubai Holding.

“Today we placed the foundation stone of what will stand as the world’s highest man-made structure by 2020, the Dubai Creek Tower,” Sheikh Mohammed said. “The new tower sets another challenge in the history of human architecture: a race the UAE deserves to lead.”

He added: “We strive for new achievements. A new heart for our city and global landmark. Humankind has no ceiling or border but our imagination.”

The tower’s design was chosen by Sheikh Mohammed following an international competition and the winning concept by Spanish/ Swiss neo-futuristic architect and painter Santiago Calatrava Valls will see the tower shaped like a lily with the image of a minaret borrowed from Islamic culture.

CULTURAL REVOLUTION Another prime example of a project that has set a new benchmark for the city and the entire Middle East region is the recently opened Dubai Opera.

Opened in late August, the multi-format performing arts theatre overlooks the Burj Khalifa and the Dubai Fountain and has the capacity to seat up to 2,000 people for a theatrical production and up to 1,000 for a gala dinner.

It has enjoyed strong success since its launch, with shows ranging across a wide set of genres.

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UAE PROJECTS

Joseph Fowler, Director of Programming of Dubai Opera recently gave a presentation as part of Capital Club Dubai's “People Who Shaped Dubai” event along with the designer of the beautiful dhow-shaped structure, Janus Rostok, regional design director at WS Atkins.

Apart from its obvious contribution to Dubai’s cultural landscape, Dubai Opera’s CEO Jasper Hope is bullish about the venue being successful from a commercial perspective. Speaking in a recent interview, he said: “Nobody should ever consider this a dead certainty. It is extremely challenging. This is 2016 so there are business imperatives that run through all strands of commercial life. Basically, most things need to live or die by their performance. That is true in an artistic sense and a financial sense.

“I don’t do shows I don’t expect to sell out. You don’t have to be right every single night on every show, but you have to be right nearly all of the time. You have to listen to your audience and if you get the show, artist, programme, time of year, ticket price or any other metric wrong then technically you are not at 100 per cent of sales.

“If you get a few of them wrong, you can be down to 50 or 60 per cent. If you go below that, you are in a different ballpark altogether.

In reality, you have to aim for 80 to 90 per cent of shows to sell out.”

Dubai Opera is expected to host at least 200 events in its first year and guests can enjoy everything from traditional opera shows to rock and pop concerts.

“Not every night is going to be highbrow classical opera that people may or may not be familiar with. With our diverse programme, we will spread any potential risk there is. These

2

“I DON’T DO SHOWS I DON’T EXPECT TO SELL OUT. YOU DON’T HAVE TO BE RIGHT EVERY SINGLE NIGHT ON EVERY SHOW, BUT YOU HAVE TO BE RIGHT NEARLY ALL OF THE TIME.” Jasper Hope, CEO, Dubai Opera

2. Computer rendering of the Dubai Opera

things are fluid and we all have to fit in with general economic conditions,” said Hope.

“In tough times, people do look more closely at how they spend their disposable income and you obviously need to recognise that. However, if something is truly special but within reach in an affordability sense and your soul can be lifted once in a while by going to a concert or an opera then you will I hope include that in your mix of activities.

“Even if people are watching the pennies, our offering will be attractive. For some, this is not a luxury but very much a part of keeping on top of your life in terms of cultural experiences. You might just do it a little less often but you will still go.”

GRAND PLANS Looking ahead, even as Dubai gears up to host Expo 2020 and aggressively pursues its

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UAE PROJECTS

QUICK FACTS ABOUT DUBAI OPERA

Size

60,000 40%

3

square metres Only

of the building is used for the auditorium and lobby – 60 per cent is for back-ofhouse operations

2,000 seating capacity

Dubai Opera will host at least

19

different shows before the end of 2016 Tickets to the opening event sold out within

3hrs

4

diversification strategy, it is launching other mega projects that can help accommodate its growing requirements.

In line with that, a $20bn master development – Jumeirah Central – was unveiled earlier this year that will feature a number of regional and world firsts.

An urban mixed-use city district comprising 47 million square feet of gross floor area, the project is being developed by state-owned developer Dubai Holding.

Located opposite Mall of the Emirates on Sheikh Zayed Road, the overall project will include 11,000 residential units, 9.1 million sqft of retail space, 8 million sqft of office space, 7,200 hotel rooms, 40 new entertainment attractions, 37 plazas and 33 parks with an allocation of 35 per cent residential, 21 per cent office, 19 per cent hotel, and 24 per cent retail space.

This will begin with a first phase of 69 projects, estimated to cost $6.5bn, with 3,000 residential apartments, 2,800 hotel rooms and 12 offices, an urban mall, food and beverage hall, two performance theatres, a retail souq, an exhibition hall,

3. The An urban mixed-use city district comprising 47 million square feet of gross floor area 4.

Jumeirah Central will also feature the region’s first central station, with two metro lines, two tram lines, 33 bus lines and an aerial transport system.

two cultural buildings, four community service facilities, five parks and plazas and three Dubai Tram stops.

The residential units will be spread across 13 residential projects, four student accommodation projects and one live/work residential project.

The hospitality element will include 14 hotels and one resort.

Jumeirah Central will also feature the region’s first central station, with two metro lines, two tram lines, 33 bus lines and an aerial transport system. The region’s largest stand-alone department store and the world’s largest outdoor art gallery will be among the other unique features.

Considering the impressive and grand plans that Dubai is embarking upon, it seems but inevitable that the emirate will achieve its significant goal of becoming one of the best cities in the world.

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THE VIDEO

0:06 / 2:38

PRESS PLAY Delve inside the hallowed halls of Capital Club Dubai and meet a few of our high-ranking members with a brand new video created by Motivate Connect.

Since its inception, the club has become known for providing the most luxurious private members club experience in the Middle East. Take a virtual tour of the club and find out what our members love about our business and social hub in DIFC.

55

THE VIDEO

WATCH: View the video at capitalclubdubai.com

Abdulla Baqer – CEO, Mime Group

Amanda Line – Partner, PWC

“Dubai has always been a cosmopolitan city, connecting people with each other, building a bridge between minds all over the world. I think Capital Club is doing the same thing – it’s good to have friends everywhere.”

“Typically people who join the club are in business of some sort or another, but what I really like about Capital Club is the networking. If you look at the club’s roster of membership, it’s the who’s-who of Dubai and so it’s a great opportunity to meet lots of interesting people who you might not have met before.”

Dawn Metcalfe – Managing Partner, PDSi

Lucy Chow – Owner, The Elements Group

“I was new to Dubai and I needed to make friends. Where better to make friends than at Capital Club Dubai? For me personally, the main benefit is that it’s my home office, I spend a ridiculous amount of time here and I’ll always find somebody that I know to hang out with – which isn’t always great for getting work done but it’s great for having fun.”

“People think of Capital Club mainly as a business club, but I personally have used everything that the club offers. If you live nearby it’s great to start off with your fitness here, you can use the meetings rooms and obviously all of the events here are phenomenal.”

Raza Jafar – CEO, Enshaa PSC “Capital Club came as the first place which provided businessmen and entrepreneurs with a place to sit and discuss opportunities and business in a much more professional environment. They have some amazing events and you get to meet and listen to people from different parts of the world that are passing through Dubai, and listen to their perspective on different important issues.”

Barclays offers wealth and investment management products and services to its clients through Barclays Bank PLC and its subsidiary companies. Barclays Bank PLC is registered in England and authorized by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.

Registered No. 1026167. Registered Office: 1 Churchill Place, London E14 5HP. Barclays Bank PLC (DIFC Branch) (Registered No. 0060) is regulated by the Dubai Financial Services Authority. Barclays Bank PLC (DIFC Branch) may only undertake the financial services activities that fall within the scope of its existing DFSA licence. Principal place of business: Wealth and investment management, Dubai International Financial Centre, The Gate Village Building No. 10, Level 6, PO Box 506674, Dubai, UAE. This information has been distributed by Barclays Bank PLC (DIFC Branch). Related financial products or services are only available to Professional Clients, as defined by the DFSA.

57

SOCIETY

Event Highlights From welcoming former prime minsters and the leading minds behind Dubai’s iconic sights, to gourmet Italian dinners and rare jewellery showcases, the last few months at Capital Club Dubai have been a whirlwind of events, talks and parties

Janus Rostock talking to the Capital Club audience

People who shaped Dubai: Dubai Opera After years of anticipation, the curtain has finally risen at the Dubai Opera in Downtown Dubai.

Continuing the successful “People Who Shaped Dubai” series, on Tuesday 18th October, Capital Club welcomed two of the brains behind the project, Joseph Fowler, Director of Programming of Dubai Opera and architect Janus Rostock, who spoke about the city’s newest cultural icon and the exciting up-coming performances.

Board of Governor Izzat Dajani with Suzzy Dajani

Joseph Fowler, Director of Programming of Dubai Opera and Janus Rostock, Design Director for Atkins

58

SOCIETY

A gentleman’s evening with Burberry and Macallan In early November, Capital Club played host to an elegant evening for gents hosted by British fashion house Burberry. The prestigious brand showcased their men’s tailoring collection to the club’s many members and guests.

Scotch experts Macallan were also on hand to provide an exclusive whisky-tasting experience paired with gourmet canapés for guests to enjoy.

59

SOCIETY

Riz Khan and HE Shaukat Aziz

Book launch with H.E. Shaukat Aziz Shaukat Aziz, Ex-Prime Minster of Pakistan, visited Capital Club Dubai to promote his book From Banking to the Thorny World of Politics.

H.E. Aziz talked to a packed audience about his tenure as a Finance Minister and Prime Minister of Pakistan, in addition to the shifting geopolitical landscape and the GCC region.

HE Tariq Al Qassimi and HE Shaukat Aziz

The first Prime Minister of Pakistan to complete a full term, he is renowned for steering a major economic turnaround through a strategic reform agenda heavily rooted in the principles of liberalization, deregulation and privatization.

H.E. Aziz believes businesses and economies should leverage in order to prosper.

Over the course of the evening, attended by UAE business leaders, H.E. Aziz consistently revisited the idea of ‘DNA’ and the need for politicians and business professionals to change and redefine the way they do business.

Last Tuesday Tradition with M.A.D. Gallery In keeping with Capital Club’s popular Last Tuesday Tradition series, on October 25th members were invited to a networking event sponsored by The MB&F M.A.D. Gallery. The Alserkal Avenue-based creative hub showcased a selection of their unique Mechanical Art Devices to celebrate Dubai Design Week.

Abdulhamied Seddiqi and Maximilian BÅsser, founder and creator, MB&F M.A.D. Gallery

Patrick Fernandes and Ammar Zawaideh

61

SOCIETY

Cityscape dinner with Sotheby’s Italy Capping off an event-packed agenda surrounding Cityscape Week 2016, Capital Club partnered with Sotheby’s Italy to throw an incredible Sardinian-themed dinner in celebration of ‘Inhabited Sculptures’, the real estate company’s’ new collection of luxury villas.

Justice Roger Giles and Sir David Steel

HE Giovanni Favilli and his guest Mr & Mrs Lalvani

Rita Khaled - Bladen and Jan Bladen

An evening with Dubai Carbon Capital Club hosted an evening to mark the launch of Dubai Carbon’s first sustainability self-assessment tool.

Leaders in the UAE finance industry turned out to learn how the tool could help the capital investment market streamline portfolio exposure to climate change.

Ivano Iannelli, CEO of Dubai Carbon, stated that the sustainability tool was developed with “an aim of cultivating efforts to achieve the Sustainable Development Goals 2030 and leveraging the UAE entrepreneurship culture to further foster public-private partnership.”

Iannelli further explained, “Innovation and new best practices are making their way into our business culture and new platforms are being created to support such projects from a cheaper capital to facilitated normative environments. The tool allows any entity to assess their position and accessibility towards such platforms that do require auditable sustainability standards”.

Ivano Iannelli, CEO of Dubai Carbon

Graham Martins and Ebonnie Martins

Guest attending An Evening with Dubai Carbon

62

SOCIETY

Gems and art collide with Doris Hangartner and artist Lisa Sharpe Doris Hangartner displayed her bespoke collection of dazzling gems in collaboration with British artist Lisa Sharpe on November 11th at Capital Club Dubai. The colourful collection of precious jewels lured many a magpie-eye to the club, where members and art collectors were treated to an exclusive showcase displayed alongside Sharpe’s bold paintings.

Doris Hangartner described an individual’s affinity for a particular stone as an influence of her signature style: “Just like every harmonious relationship, where two individuals complement each other, Gem Art Fusion is inspired by the concept of individuality. This not only accentuates my designs, but also leads to genuine emotions of attachment and sentimentality,” she said.

Doris Hangartner and guest

Remy and Nadeen Fares

63

SOCIETY

A taste of Italy for the Italian Cuisine World Summit

People who shaped Dubai – H.E. Dr Abdulla Al Karam

On November 16th Michelin-starred Chef Augusto Valzelli visited Capital Club as part of the eighth Italian Cuisine World Summit. Hailing from the coastal Agrodolce restaurant in northern Italy, Chef Augusto and his highly trained culinary team specialise in seafood crafted with the freshest catch. Members turned out in force to sample his expert cooking accompanied by fine wines from the region.

Capital Club was thrilled to host His Excellency Dr Abdulla Al Karam from KHDA, Knowledge and Human Development Authority, as part of the “People Who Shaped Dubai” series.

H.E. Dr. Abdulla is a visionary leader who has significantly contributed the regional private education system. Responsible for the growth and quality of private education in Dubai, KHDA supports schools, universities, parents, students, educators, investors and government partners to create a high quality education sector focused on happiness and wellbeing.

64

MEMBERSHIP CORNER

A NOTE FROM

AMANDA LINE

Chairperson of Capital Club Membership Committee Hello and I do hope you have enjoyed reading this second edition of our Capital Club Magazine. As Chairperson of the Club’s Membership Committee, I wanted to ensure you have the updated company roster – please see below for the full list.

I am happy to announce that over the past 3 months, we added the following corporates to our list: To all our new Members, welcome to the Club!

Averda International BGC Partners Cooper Fitch Qatar Reinsurance Company Ltd. United World Infrastructure Ltd. NBE DIFC Ltd. Aura Holiday Homes LLC Mike Hoff Consulting FZE Now Health International Ltd grow.ME International SOS GmbH Access Consultants DMCC

Adaptis Berwin Leighton Paisner City University of London Italian Incubator of Excellency Orix Corporation Sapal International Trading Company Private Jet Charter Adaptis Century Financial Brokers Figjam Hospitality Seven Capital

Please do remember that as Members, you are the only ones who have the privilege of inviting new Members, and thus to continue to grow our exclusive Club organically and from within.

This year, we have launched new initiatives such as our Club Magazine, and also our new corporate video, both of which I sincerely hope will make you feel even prouder of our Club, and excited to show it off to your family and friends.

2016 is almost drawing to a close, but Club life remains extremely busy and fun, with great events, fabulous food & beverage, and lots of opportunities to meet and rub shoulders with your fellow Members. I look forward to seeing you around the Club!

Thank you for all your continued support, AMANDA LINE Chairperson of the Membership Committee, Capital Club Dubai Partner, PWC

65

MEMBERSHIP CORNER

Capital Club's Corporate Roster includes members from the following leading companies* A.A. Al Moosa Enterprises LLC

AUBRILAM Middle East

Commerzbank AG

Fitch Learning

Access Consultants DMCC

Aura Holiday Homes

Confida Ventures Limited

Fitch Ratings

Access Dubai

Averda International FZ LLC

Confluent Law Group

Franklin Templeton Investments

Adaptis

Aviatrans International Fzco

Consilium

Freshfields Bruckhaus Deringer

Addleshaw Goddard

AXA Insurance (Gulf) B.S.C.

Contech Group

Fullerton Financial Holdings

Adenium Capital LLC

Bain & Company

Conyers Dill & Pearman Limited

Future Pipe Industries LLC

Advani Limited

Baker & McKenzie.Habib Al Mulla

Cooper Fitch

Galadari Invesment Office

Advent Software

Bank International of Luxembourg

Cornerstone Ventures

Garda World

Affiliated Managers Group Limited

Bank J. Safra Sarasin Asset Mgmt

Crescent Petroleum

George Grant Associates

Afridi & Angell

Bank of Baroda

Crown Relocations

Gerson Lehrman Group

Afriglobal Commodities DMCC

Bank of New York Mellon

Cupola Teleservices (CTS)

Gianni, Origoni, Grippo, Cappelli

Agora Engineering & Development

Barclays

Currency Matters Middle East

Global Infrastructure Corporation

AHB Group Investments

Barclays Bank PLC

Dach Advisory

Global Investment Bank Limited

AHMED SEDDIQI & SONS LLC

BDAE Expat Consultancy JLT

Daman Investments

Global Legal Group

AIG MEA Ltd

Belhasa International Co. LLC

Daud Investment LLC

Global Operations

Airbus

Beltexco Ltd

DBMSC-Steel FZCO

Global Rig Services

AJM International Limited

Berkeley Group Holdings PLC

Debbas Electric L.L.C.

Globaleye

Akbank

Berwin Leighton Paisner

Deep Blue Capital Management

Graniteside Chemicals

Al Ahli Bank of Kuwait

Besix

Delicious Holdings

Grant Thornton

Al Borj Machinery

BGC Partners

Deloitte Financial Advisory Service

Great Sands Consulting

Al Fahim Holdings

Bhatia Brothers FZCO

Denton & Co

Greenstone Equity Partners

Al Fara'a Group

Bin Drai Enterprises

Deutsche Bank

grow.ME

Al Masraf

BizXchange

DFSA

Gulf Holdings

Al Mazaya Holding

BMG Metal False Ceilings

DIFC

Gulf Merchant Bank

Al Rostamani Group

BMG Metal False Ceilings Manufact.

DIFC Authority

H2O Concepts

Al Shafar General Business Consulti

Bonnard Lawson

DIFC Courts

H3 Capital Partners

Al Tamimi & Company

Boyden Global Executive Search

Diligencia Consulting

Hampton Securities Incorporated

Aljal Capital

Boyden Middle East

Dodsal Engineering & Construction

Hanson Search Ltd.

Allen & Overy

Brewer Smith & Brewer Gulf

Dogus Management Services Ltd.

Hashoo Group

Allianz Global Corporate & Specialt

Bristol Engineering (JSA Law)

Dolphin General Trading

HBS International

Allsopp & Allsopp Real Estate

Brunswick Gulf Limited

Drake & Scull International PJSC

Alpen Capital

Burgan Wealth

Dubai Airports

Heirloom Investment Management LLC

Alpha Capital International LLC

Capinvest

Dubai Multi Commodities Centre

Helene Mathieu Legal Consulatants

Alpha Management Limited

Capita (Dubai FZ) Limited

Dutco Group

Herald Land REB

Alphazone Holdings Sdn Bhd

Capital D Studio

DWF Middle East LLP

HFFC Bank

Alsatronix Solutions

Capital Values Group

eBMS Solutions Pvt. Ltd.

Hinduja Bank (Middle East) Ltd.

American Life Insurance Company

Capitas Holding International

EFG Hermes UAE LTD

HK Advisory Services Limited

AMS Financial Group

Catalyst Concepts

Emerging Capital Group

HLB Hamt

Ann Ritmeester Investments

Catline Middle East Ltd.

EMI Capital Advisory LLP

Hogan lovells Middle East

Anz Banking Group

Cayman National

Emirates Int'l Insurance Brokers

Holle Potash Corp

Apex Fund Services LTD

CCM Consultancy

Emirates NBD

Homes or Houses LTD

Apparel Group

CedarBridge Partners

ICAEW

Aramex Regional LLC

Celerant Consulting

Emirates NBD Asset Management Limit

ARC International

CGDC (Center For Global Dialogue

Emirates Scientific Fzc

IFFCO

Architectural Consulting Engineers

Choueri Real Estate

Engel & Volkers

IG Services Limited

Ariba Celcom

CHRISTIE'S

Entertainment Media Ventures Inc.

Ilyas & Mustafa Galadari Group

Armada Distribution

Cii Holdings (Pty) Ltd

Equinix ME

Infocomm Group LLC

Art Exim Pvt. Ltd.

Citi Treasury & Trade Solutions

Ernst & Young

ING BANK & BE

City University of London

Euler Hermes GCC

Institute of Chartered Accountants

Clyde & Co

Eurostar Communication LLC

Inter Equipment Company Ltd.

Ashurst LLP

Coface

Factset Systems

Inter Ocean Ship Repairs Group

Asiaciti Trust Group

Columbia Threadneedle Investments

Fagerhult Lighting Group

International Capital Market Assoc.

ASIYA Investments

Commercial Bank International

Falcon and Associates

Essar Global Services FZE

Atlantic Maritime Group

Commercial Bank of Dubai

FFA Limited

International SOS

Arya Insurance Brokerage Company ASAS Capital

IE Business School

66

MEMBERSHIP CORNER

Intertrust Group

Nabavi Group

Sara Trident LLC

TRANSLUX Limited

ITA (Middle East) Limited

Nagode Commodities DMCC

SAS Asset Recovery

Italian Incubator of Excellency

National Bank of Fujairah PJSC

Savory & Partners

Trident Trust Company (UAE) Limited

Jampur International

NBE (DIFC) Limited

SBF Holding

Trimark Capital

Jashanmal National Company LLC

NBF Capital LTD

Scholars International Group

Trox Technik

Jet Solution Aviation Group

NBK Capital

Scope Information System

Truebell Marketing & Trading LLC

Jones Day

Near East Investment Co.

SDI Capital Limited

Tullett Prebon Dubai

Joudi International FZE

Network International

Secure Parking Corporation

TVM Operations Group DMCC

Julius Baer (M.E) Limited

New Quadrant Partners Ltd.

Senda International

UBS-AG Dubai

KBH Kaanuun

Norton Rose - Middle East

Servcorp LLC

UD Group of Companies

Kensington Luxury Real Estate

Now Health International Ltd

Shaikh Holdings Limited

UHY Saxena

Khimji Ramdas LLC

NREC

Shaza Hotels

Unique System FZE

Killik & Co.

NSN Capital Limited

SHERPA

United World Infrastructure Ltd.

KKR MENA

NT&S Oilfield Services FZ LLC

Shuaa Capital

Universal Tubes & Plastics Ind Ltd

Korn Ferry Dubai

Old Mutual International ME Ltd.

SiDeMi Business Consultancy

URBANEVA

KPI

Oman Trading International

Silverstone FX

Vardags Management Consultancy

KPMG

Orix Corporation

SIP International Limited

Veritas Investments Ltd

Kru Capital

Palma Capital

Skyelume

Vinson & Elkins

Lakson Investments Ltd.

Paoletti Legal Consultant

SNS Properties

Vistra Group (UAE) Limited

Lals Group

Paragon Business Group

Sobha Contracting LLC

Vitol Dubai Limited

Landmark Group

Paris Gallery Group of Companies

Soliton Holding

White Metal Alloys Industries

Latham & Watkins LLP

PeeKay Intermark Limited

Space Imaging ME

WNN Limited

Lazard Asset Management

Pegasus Capital Advisors

Spencer Stuart Middle East Ltd.

YahLive Al YahSat Communications

LCA Law Firm in Alliance with IAAME

Pepsi-Cola International Ltd

Standard Bank

YouFirst

LENCO Middle East FZC

Petrofac

Standard Chartered Bank

Yousuf Dewan Companies

LGT Middle East

Philip Morris Mngt Services ME LTD.

Stanford Resourcing

Zamir Telecom

Liberty Commodities Ltd.

Pillsbury Winthrop Shaw Pittman LLP

Stanton Chase

Zurich Financial Services Insurance

Linklease

Praesta

Strata Capital Limited

Zurich Insurance Company Ltd.

Lloyd's of London

PricewaterhouseCoopers

Strategic Initiatives

Zurich International

London Business School

Prisme International LLC

Strategic Value Partners L.L.C

Longitude Associates DMCC

Qatar First Bank

Strategy&PWC

LUKOIL Overseas Holding

Qatar Reinsurance Company Ltd.

Sun Global Investments ME Ltd.

Luxury Italian Design

QBE Insurance(Europe) Ltd

Swiss ILC Managements Services JL

Majid Al Futtaim Holdings

Quilter Cheviot Limited

Swiss Watch Group

Manchester Middle East

R.J General Trading & Dist

Tabarak Investment Bank Ltd.

MANCON for Construction Dubai LLC

Rak Free Trade Zone

Taha Investment Group Limited (TIG)

RAK Insurance

Takseem

Market-I Research Services

Ras Al Khaimah Tourism Authority

Tameer Holding Investment

Martin Maurel Sella

Rasmala Investment Bank Ltd.

Tartan Resources

Martyn Willow FZE

Reach International FZE

TEMPLAR ADVISORS

McKinsey & Company Inc.

Red Stone Management

TenacreGroup

MCTS

Regal Traders

TGI Middle East FZE

Melius Partners LLC

Richmond Mercantile Ltd FZC

The Bank of New York

Menalink Holdings

RIF Trust

The Cragus Group

Mercongraphic Fzc

Risk Advisory Group

The East India Company

Midas Int'l Asset Management

Robeco

The Emirates Capital Limited

Middle East Energy Fzco

Rocky Real Estate LLC

The Gate Business Services FZE

Mike Hoff Consulting

Rosy Blue DMCC

The Industrial Group

Millennium Finance Corporation

Royal Blinds

The National Bank of Ras Al Khaimah

Mina Group

RSA Logistics DWC

The Risk Advisory Group

Minerva Middle East

Sabban Group

Threadneedle Investments

Minerva Technologies JLT

Sahul Corporate DMCC

Threadneedle PSHKL

Mobile Land Systems

Sajjad Haider & Company

Towershare Management Limited

Mochcom Group Ltd.

Saker Group

TPL Holdings Company

Monarqi

Salman Bin Faisal Real Estate

Traffic

Munich Re Syndicate Middle East Ltd

Sama Financial Consultancy LLC

Transearch Middle East

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