The Zegna spring/summer 2026 show took place in Dubai rather than Milan. Chris Whiteoak / The National
The Zegna spring/summer 2026 show took place in Dubai rather than Milan. Chris Whiteoak / The National
The Zegna spring/summer 2026 show took place in Dubai rather than Milan. Chris Whiteoak / The National
The Zegna spring/summer 2026 show took place in Dubai rather than Milan. Chris Whiteoak / The National

Family and legacy: Elie Saab and Gildo Zegna on their shared formula for success


  • English
  • Arabic

“Dubai is the centre of the world right now. This is where it happens.”

That is how Gildo Zegna, chairman and chief executive of the Ermenegildo Zegna Group, which owns Zegna, Tom Ford and Thom Browne, explained why the refined gentlemen’s outfitter brought its spring/summer 2026 fashion show to Dubai from its native Milan.

Having transformed Dubai Opera into Villa Zegna – a recreation of the Zegna family home in Milan – for the week, the audience was invited back the day after the fashion show for a panel discussion between Gildo Zegna, his son Angelo, Lebanese couturier Elie Saab and his son, Elie Saab Junior.

Such a line-up would normally signal a new joint venture, collaboration or some other business deal, but instead of being transactional, it unfolded as a surprisingly moving treatise on the importance of family, legacy and passion, as the four shared their experience of running family businesses.

A look from the spring-summer 2026 show by Zegna in Dubai. Chris Whiteoak / The National
A look from the spring-summer 2026 show by Zegna in Dubai. Chris Whiteoak / The National

Both the Elie Saab and Zegna companies have grown far beyond their beginnings. Elie Saab started making couture in Beirut in 1982, and today tops an empire that spans haute couture, ready-to-wear, perfume, interiors, real estate and even yachts. Much of this was spearheaded by his son, Elie Saab Junior, who joined his father as brand director in 2012 and is now group chief executive and vice chairman.

He outlined his admiration for his father, who started in a country torn apart by war. “Seeing him have a very strong vision and a very important dream, which at the time was difficult to even think of. Taking his suitcase on a boat to Cyprus, then a plane to present his collection to clients all over the world is an inspiration on its own.”

Elie Saab with Celine Dion at 1001 Seasons of Elie Saab in Saudi Arabia. Photo: Elie Saab
Elie Saab with Celine Dion at 1001 Seasons of Elie Saab in Saudi Arabia. Photo: Elie Saab

His father’s passion, he explained, drew him in from a tender age. “I remember I was three, four years old with the seamstresses in the atelier, with the design team, sitting with him in his office, seeing him create his collections.

“Living the heritage of what the brand is today, it is a dream,” he said, explaining that as a family company, it can often spill over into family life. “There’s a very blurred line between our life and our work, and most often, we live our work, and it’s part of our life.”

Angelo Zegna, chief executive of the Europe, Middle East and Africa region and global client strategy director, held a similar view. He described learning from his father, Gildo, from a young age, when he and his brother would skip holidays to join their father on work trips abroad instead. “It was the best retail school we ever had,” he explained.

During these excursions, he witnessed his father hiring people from other fields, because he recognised something in them that would benefit the company.

“Often these were waiters, hotel concierges, people we met on airlines. My father was believing in young people, giving them a chance.”

The Zegna Runway show Spring/Summer 2026 in Dubai. Chris Whiteoak / The National
The Zegna Runway show Spring/Summer 2026 in Dubai. Chris Whiteoak / The National

For his part, Gildo Zegna – who expanded his grandfather’s Italian textile company into a maker of refined menswear – maintains his role is to inspire others to push boundaries, describing himself as an optimist and entrepreneur.

“The master entrepreneur has to be positive,” Gildo said. “I see the glass half full and I think that the most important thing is to keep the entrepreneurial, creative spirit

“One of the things that I’m most proud of is that we have become an employer of choice in the luxury world. It means we are doing things well. With positive energy, we believe in creating new dreams.”

Angelo also explained how the company has learnt to create an environment to best harness different viewpoints. “We think of ourselves, and of the family business, as a house where each generation builds a different floor,” he said.

“We are very respectful of what the previous generations built, but we are here to disrupt that to bring it into the future.”

Finding a common language that can span the age range has been key to evolution, he added. “Both generations started working together. We were young, they were wise.”

Wisdom too, is important to Elie Saab Junior, who is grateful for the lessons his father has passed on. “My father taught me everything I know and gave me the foundation to go through all the challenges in life and never give up,” he said.

“Patience is something I heard a lot while growing up. By being patient, one day after the other, you build strength.”

These are qualities important for today, Gildo Zegna agreed. Although Zegna today is a billion dollar organisation, it is a space where “meritocracy and entrepreneurship are very important. This is the main succession plan, and this is what you instil in the new generation.”

He was also quick to lay success at the feet of the entire team. “There is always talk about stores. I like to talk about the factories because without the artisans, what artistic director Alessandro Sartori has done would have been impossible.”

Inside one of the Elie Saab Residences. Photo: Calvermont
Inside one of the Elie Saab Residences. Photo: Calvermont

As other companies look to reduce costs by shifting manufacturing to cheaper countries, Gildo is aware that his family has a deeper responsibility. “I think that our biggest responsibility is to keep Italian companies in Italy. I can tell you that we’ll be one of the few Italian companies remaining Italian.”

Elie Saab Junior agreed that a company's legacy can never be taken for granted. “You cannot sleep on it. On the contrary, you have to keep on nurturing it, keep on shaping and evolving it, because if you don’t, the legacy will disappear.”

Angelo recalled growing up with “a number”. When Zegna turned 100 in 2010, John Elkann, chairman of the automotive multinational Stellantis, spelt out to Angelo and his brother that “out of 1 million companies, only 44 make it to 100 years. And out of 1 billion, only one makes it to 200 years.”

The message was clear, he said. Having made it to its centenary, the company now had to come together to stand any chance of surviving for another one hundred years.

Elie Saab Junior is aware that the future of the company rests on the shoulders of his father and himself. “I take it with a big responsibility to carry it on to the next generation,” he said.

“I'm very lucky to work with a man like my father. He's not only an inspiration to me but an inspiration to the whole world. So imagine what it is ]like] for me to work with him and learn from him every day.”

What is a robo-adviser?

Robo-advisers use an online sign-up process to gauge an investor’s risk tolerance by feeding information such as their age, income, saving goals and investment history into an algorithm, which then assigns them an investment portfolio, ranging from more conservative to higher risk ones.

These portfolios are made up of exchange traded funds (ETFs) with exposure to indices such as US and global equities, fixed-income products like bonds, though exposure to real estate, commodity ETFs or gold is also possible.

Investing in ETFs allows robo-advisers to offer fees far lower than traditional investments, such as actively managed mutual funds bought through a bank or broker. Investors can buy ETFs directly via a brokerage, but with robo-advisers they benefit from investment portfolios matched to their risk tolerance as well as being user friendly.

Many robo-advisers charge what are called wrap fees, meaning there are no additional fees such as subscription or withdrawal fees, success fees or fees for rebalancing.

What drives subscription retailing?

Once the domain of newspaper home deliveries, subscription model retailing has combined with e-commerce to permeate myriad products and services.

The concept has grown tremendously around the world and is forecast to thrive further, according to UnivDatos Market Insights’ report on recent and predicted trends in the sector.

The global subscription e-commerce market was valued at $13.2 billion (Dh48.5bn) in 2018. It is forecast to touch $478.2bn in 2025, and include the entertainment, fitness, food, cosmetics, baby care and fashion sectors.

The report says subscription-based services currently constitute “a small trend within e-commerce”. The US hosts almost 70 per cent of recurring plan firms, including leaders Dollar Shave Club, Hello Fresh and Netflix. Walmart and Sephora are among longer established retailers entering the space.

UnivDatos cites younger and affluent urbanites as prime subscription targets, with women currently the largest share of end-users.

That’s expected to remain unchanged until 2025, when women will represent a $246.6bn market share, owing to increasing numbers of start-ups targeting women.

Personal care and beauty occupy the largest chunk of the worldwide subscription e-commerce market, with changing lifestyles, work schedules, customisation and convenience among the chief future drivers.

EA Sports FC 26

Publisher: EA Sports

Consoles: PC, PlayStation 4/5, Xbox Series X/S

Rating: 3/5

500 People from Gaza enter France

115 Special programme for artists

25   Evacuation of injured and sick

The chef's advice

Troy Payne, head chef at Abu Dhabi’s newest healthy eatery Sanderson’s in Al Seef Resort & Spa, says singles need to change their mindset about how they approach the supermarket.

“They feel like they can’t buy one cucumber,” he says. “But I can walk into a shop – I feed two people at home – and I’ll walk into a shop and I buy one cucumber, I’ll buy one onion.”

Mr Payne asks for the sticker to be placed directly on each item, rather than face the temptation of filling one of the two-kilogram capacity plastic bags on offer.

The chef also advises singletons not get too hung up on “organic”, particularly high-priced varieties that have been flown in from far-flung locales. Local produce is often grown sustainably, and far cheaper, he says.

What vitamins do we know are beneficial for living in the UAE

Vitamin D: Highly relevant in the UAE due to limited sun exposure; supports bone health, immunity and mood.Vitamin B12: Important for nerve health and energy production, especially for vegetarians, vegans and individuals with absorption issues.Iron: Useful only when deficiency or anaemia is confirmed; helps reduce fatigue and support immunity.Omega-3 (EPA/DHA): Supports heart health and reduces inflammation, especially for those who consume little fish.

THE SPECS

Engine: 3-litre V6

Transmission: eight-speed automatic

Power: 424hp

Torque: 580 Nm

Price: From Dh399,000

On sale: Now

Key figures in the life of the fort

Sheikh Dhiyab bin Isa (ruled 1761-1793) Built Qasr Al Hosn as a watchtower to guard over the only freshwater well on Abu Dhabi island.

Sheikh Shakhbut bin Dhiyab (ruled 1793-1816) Expanded the tower into a small fort and transferred his ruling place of residence from Liwa Oasis to the fort on the island.

Sheikh Tahnoon bin Shakhbut (ruled 1818-1833) Expanded Qasr Al Hosn further as Abu Dhabi grew from a small village of palm huts to a town of more than 5,000 inhabitants.

Sheikh Khalifa bin Shakhbut (ruled 1833-1845) Repaired and fortified the fort.

Sheikh Saeed bin Tahnoon (ruled 1845-1855) Turned Qasr Al Hosn into a strong two-storied structure.

Sheikh Zayed bin Khalifa (ruled 1855-1909) Expanded Qasr Al Hosn further to reflect the emirate's increasing prominence.

Sheikh Shakhbut bin Sultan (ruled 1928-1966) Renovated and enlarged Qasr Al Hosn, adding a decorative arch and two new villas.

Sheikh Zayed bin Sultan (ruled 1966-2004) Moved the royal residence to Al Manhal palace and kept his diwan at Qasr Al Hosn.

Sources: Jayanti Maitra, www.adach.ae

INDIA'S%20TOP%20INFLUENCERS
%3Cp%3E%3Cstrong%3EBhuvan%20Bam%3C%2Fstrong%3E%3Cbr%3E%3Ca%20href%3D%22https%3A%2F%2Fwww.instagram.com%2Fbhuvan.bam22%2F%3Fhl%3Den%22%20target%3D%22_self%22%3EInstagram%3C%2Fa%3E%20followers%3A%2016.1%20million%3Cbr%3EBhuvan%20Bam%20is%20a%2029-year-old%20comedian%20and%20actor%20from%20Delhi%2C%20who%20started%20out%20with%20YouTube%20channel%2C%20%E2%80%9CBB%20Ki%20Vines%E2%80%9D%20in%202015%2C%20which%20propelled%20the%20social%20media%20star%20into%20the%20limelight%20and%20made%20him%20sought-after%20among%20brands.%3Cbr%3E%3Cstrong%3EKusha%20Kapila%3C%2Fstrong%3E%3Cbr%3E%3Ca%20href%3D%22https%3A%2F%2Fwww.instagram.com%2Fkushakapila%2F%3Fhl%3Den%22%20target%3D%22_self%22%3EInstagram%3C%2Fa%3E%20followers%3A%203.1%20million%3Cbr%3EKusha%20Kapila%20is%20a%20fashion%20editor%20and%20actress%2C%20who%20has%20collaborated%20with%20brands%20including%20Google.%20She%20focuses%20on%20sharing%20light-hearted%20content%20and%20insights%20into%20her%20life%20as%20a%20rising%20celebrity.%3Cbr%3E%3Cstrong%3EDiipa%20Khosla%3C%2Fstrong%3E%3Cbr%3E%3Ca%20href%3D%22https%3A%2F%2Fwww.instagram.com%2Fdiipakhosla%2F%3Fhl%3Den%22%20target%3D%22_self%22%3EInstagram%3C%2Fa%3E%20followers%3A%201.8%20million%3Cbr%3EDiipa%20Khosla%20started%20out%20as%20a%20social%20media%20manager%20before%20branching%20out%20to%20become%20one%20of%20India's%20biggest%20fashion%20influencers%2C%20with%20collaborations%20including%20MAC%20Cosmetics.%3Cbr%3E%3Cstrong%3EKomal%20Pandey%3Cbr%3E%3C%2Fstrong%3E%3Ca%20href%3D%22https%3A%2F%2Fwww.instagram.com%2Fkomalpandeyofficial%2F%3Fhl%3Den%22%20target%3D%22_self%22%3EInstagram%3C%2Fa%3E%20followers%3A%201.8%20million%3Cbr%3EKomal%20Pandey%20is%20a%20fashion%20influencer%20who%20has%20partnered%20with%20more%20than%20100%20brands%2C%20including%20Olay%20and%20smartphone%20brand%20Vivo%20India.%3Cbr%3E%3Cstrong%3ENikhil%20Sharma%3C%2Fstrong%3E%3Cbr%3E%3Ca%20href%3D%22https%3A%2F%2Fwww.instagram.com%2Fnikkkhil%2F%3Fhl%3Den%22%20target%3D%22_self%22%3EInstagram%3C%2Fa%3E%20followers%3A%201.4%20million%3Cbr%3ENikhil%20Sharma%20from%20Mumbai%20began%20his%20online%20career%20through%20vlogs%20about%20his%20motorcycle%20trips.%20He%20has%20become%20a%20lifestyle%20influencer%20and%20has%20created%20his%20own%20clothing%20line.%3Cbr%3E%3Cem%3ESource%3A%20Hireinfluence%2C%20various%3C%2Fem%3E%3Cbr%3E%3C%2Fp%3E%0A
Our family matters legal consultant

Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

Who's who in Yemen conflict

Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government

Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council

Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south

Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory

UEFA CHAMPIONS LEAGUE FIXTURES

All kick-off times 10.45pm UAE ( 4 GMT) unless stated

Tuesday
Sevilla v Maribor
Spartak Moscow v Liverpool
Manchester City v Shakhtar Donetsk
Napoli v Feyenoord
Besiktas v RB Leipzig
Monaco v Porto
Apoel Nicosia v Tottenham Hotspur
Borussia Dortmund v Real Madrid

Wednesday
Basel v Benfica
CSKA Moscow Manchester United
Paris Saint-Germain v Bayern Munich
Anderlecht v Celtic
Qarabag v Roma (8pm)
Atletico Madrid v Chelsea
Juventus v Olympiakos
Sporting Lisbon v Barcelona

The rules on fostering in the UAE

A foster couple or family must:

  • be Muslim, Emirati and be residing in the UAE
  • not be younger than 25 years old
  • not have been convicted of offences or crimes involving moral turpitude
  • be free of infectious diseases or psychological and mental disorders
  • have the ability to support its members and the foster child financially
  • undertake to treat and raise the child in a proper manner and take care of his or her health and well-being
  • A single, divorced or widowed Muslim Emirati female, residing in the UAE may apply to foster a child if she is at least 30 years old and able to support the child financially
KINGDOM%20OF%20THE%20PLANET%20OF%20THE%20APES
%3Cp%3E%3Cstrong%3EDirector%3A%3C%2Fstrong%3E%20Wes%20Ball%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStarring%3A%3C%2Fstrong%3E%20Owen%20Teague%2C%20Freya%20Allen%2C%20Kevin%20Durand%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%20%3C%2Fstrong%3E3.5%2F5%3C%2Fp%3E%0A
match info

Manchester United 3 (Martial 7', 44', 74')

Sheffield United 0

New UK refugee system

 

  • A new “core protection” for refugees moving from permanent to a more basic, temporary protection
  • Shortened leave to remain - refugees will receive 30 months instead of five years
  • A longer path to settlement with no indefinite settled status until a refugee has spent 20 years in Britain
  • To encourage refugees to integrate the government will encourage them to out of the core protection route wherever possible.
  • Under core protection there will be no automatic right to family reunion
  • Refugees will have a reduced right to public funds
Results:

5pm: Handicap (PA) | Dh80,000 | 1,600 metres

Winner: Dasan Da, Saeed Al Mazrooei (jockey), Helal Al Alawi (trainer)

5.30pm: Maiden (PA) | Dh80,000 | 1,600m

Winner: AF Saabah, Tadhg O’Shea, Ernst Oertel

6pm: Handicap (PA) | Dh80,000 | 1,600m

Winner: Mukaram, Pat Cosgrave, Eric Lemartinel

6.30pm: Handicap (PA) | Dh80,000 | 2,200m

Winner: MH Tawag, Richard Mullen, Elise Jeanne

7pm: Wathba Stallions Cup Handicap (PA) | Dh70,000 | 1,400m

Winner: RB Inferno, Fabrice Veron, Ismail Mohammed

7.30pm: Handicap (TB) | Dh100,000 | 1,600m

Winner: Juthoor, Jim Crowley, Erwan Charpy

If%20you%20go
%3Cp%3E%0DThere%20are%20regular%20flights%20from%20Dubai%20to%20Addis%20Ababa%20with%20Ethiopian%20Airlines%20with%20return%20fares%20from%20Dh1%2C700.%20Nashulai%20Journeys%20offers%20tailormade%20and%20ready%20made%20trips%20in%20Africa%20while%20Tesfa%20Tours%20has%20a%20number%20of%20different%20community%20trekking%20tours%20throughout%20northern%20Ethiopia.%20%20The%20Ben%20Abeba%20Lodge%20has%20rooms%20from%20Dh228%2C%20and%20champions%20a%20programme%20of%20re-forestation%20in%20the%20surrounding%20area.%26nbsp%3B%3C%2Fp%3E%0A%3Cp%3E%3Cbr%3E%3Cbr%3E%3C%2Fp%3E%0A
The biog

Name: Samar Frost

Born: Abu Dhabi

Hobbies: Singing, music and socialising with friends

Favourite singer: Adele

Conflict, drought, famine

Estimates of the number of deaths caused by the famine range from 400,000 to 1 million, according to a document prepared for the UK House of Lords in 2024.
It has been claimed that the policies of the Ethiopian government, which took control after deposing Emperor Haile Selassie in a military-led revolution in 1974, contributed to the scale of the famine.
Dr Miriam Bradley, senior lecturer in humanitarian studies at the University of Manchester, has argued that, by the early 1980s, “several government policies combined to cause, rather than prevent, a famine which lasted from 1983 to 1985. Mengistu’s government imposed Stalinist-model agricultural policies involving forced collectivisation and villagisation [relocation of communities into planned villages].
The West became aware of the catastrophe through a series of BBC News reports by journalist Michael Buerk in October 1984 describing a “biblical famine” and containing graphic images of thousands of people, including children, facing starvation.

Band Aid

Bob Geldof, singer with the Irish rock group The Boomtown Rats, formed Band Aid in response to the horrific images shown in the news broadcasts.
With Midge Ure of the band Ultravox, he wrote the hit charity single Do They Know it’s Christmas in December 1984, featuring a string of high-profile musicians.
Following the single’s success, the idea to stage a rock concert evolved.
Live Aid was a series of simultaneous concerts that took place at Wembley Stadium in London, John F Kennedy Stadium in Philadelphia, the US, and at various other venues across the world.
The combined event was broadcast to an estimated worldwide audience of 1.5 billion.

Profile of Bitex UAE

Date of launch: November 2018

Founder: Monark Modi

Based: Business Bay, Dubai

Sector: Financial services

Size: Eight employees

Investors: Self-funded to date with $1m of personal savings

Name: Colm McLoughlin

Country: Galway, Ireland

Job: Executive vice chairman and chief executive of Dubai Duty Free

Favourite golf course: Dubai Creek Golf and Yacht Club

Favourite part of Dubai: Palm Jumeirah

 

HEY%20MERCEDES%2C%20WHAT%20CAN%20YOU%20DO%20FOR%20ME%3F
%3Cp%3EMercedes-Benz's%20MBUX%20digital%20voice%20assistant%2C%20Hey%20Mercedes%2C%20allows%20users%20to%20set%20up%20commands%20for%3A%3C%2Fp%3E%0A%3Cp%3E%E2%80%A2%20Navigation%3C%2Fp%3E%0A%3Cp%3E%E2%80%A2%20Calls%3C%2Fp%3E%0A%3Cp%3E%E2%80%A2%20In-car%20climate%3C%2Fp%3E%0A%3Cp%3E%E2%80%A2%20Ambient%20lighting%3C%2Fp%3E%0A%3Cp%3E%E2%80%A2%20Media%20controls%3C%2Fp%3E%0A%3Cp%3E%E2%80%A2%20Driver%20assistance%3C%2Fp%3E%0A%3Cp%3E%E2%80%A2%20General%20inquiries%20such%20as%20motor%20data%2C%20fuel%20consumption%20and%20next%20service%20schedule%2C%20and%20even%20funny%20questions%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EThere's%20also%20a%20hidden%20feature%3A%3C%2Fstrong%3E%20pressing%20and%20holding%20the%20voice%20command%20button%20on%20the%20steering%20wheel%20activates%20the%20voice%20assistant%20on%20a%20connected%20smartphone%20%E2%80%93%20Siri%20on%20Apple's%20iOS%20or%20Google%20Assistant%20on%20Android%20%E2%80%93%20enabling%20a%20user%20to%20command%20the%20car%20even%20without%20Apple%20CarPlay%20or%20Android%20Auto%3C%2Fp%3E%0A
FIXTURES

All games 6pm UAE on Sunday: 
Arsenal v Watford
Burnley v Brighton
Chelsea v Wolves
Crystal Palace v Tottenham
Everton v Bournemouth
Leicester v Man United
Man City v Norwich
Newcastle v Liverpool
Southampton v Sheffield United
West Ham v Aston Villa

RECORD%20BREAKER
%3Cp%3E%3Cstrong%3EYoungest%20debutant%20for%20Barcelona%3A%3C%2Fstrong%3E%2015%20years%20and%20290%20days%20v%20Real%20Betis%3Cbr%3E%3Cstrong%3EYoungest%20La%20Liga%20starter%20in%20the%2021st%20century%3A%20%3C%2Fstrong%3E16%20years%20and%2038%20days%20v%20Cadiz%3Cbr%3E%3Cstrong%3EYoungest%20player%20to%20register%20an%20assist%20in%20La%20Liga%20in%20the%2021st%20century%3A%20%3C%2Fstrong%3E16%20years%20and%2045%20days%20v%20Villarreal%3Cbr%3E%3Cstrong%3EYoungest%20debutant%20for%20Spain%3A%3C%2Fstrong%3E%2016%20years%20and%2057%20days%20v%20Georgia%3Cbr%3E%3Cstrong%3EYoungest%20goalscorer%20for%20Spain%3A%3C%2Fstrong%3E%2016%20years%20and%2057%20days%3Cbr%3E%3Cstrong%3EYoungest%20player%20to%20score%20in%20a%20Euro%20qualifier%3A%3C%2Fstrong%3E%2016%20years%20and%2057%20days%3C%2Fp%3E%0A
'Jurassic%20World%20Dominion'
%3Cp%3EDirector%3A%20Colin%20Trevorrow%3C%2Fp%3E%0A%3Cp%3EStars%3A%20Sam%20Neill%2C%20Laura%20Dern%2C%20Jeff%20Goldblum%2C%20Bryce%20Dallas%20Howard%2C%20Chris%20Pratt%3C%2Fp%3E%0A%3Cp%3ERating%3A%204%2F5%3C%2Fp%3E%0A

Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

The years Ramadan fell in May

1987

1954

1921

1888

The years Ramadan fell in May

1987

1954

1921

1888

Expo details

Expo 2020 Dubai will be the first World Expo to be held in the Middle East, Africa and South Asia

The world fair will run for six months from October 20, 2020 to April 10, 2021.

It is expected to attract 25 million visits

Some 70 per cent visitors are projected to come from outside the UAE, the largest proportion of international visitors in the 167-year history of World Expos.

More than 30,000 volunteers are required for Expo 2020

The site covers a total of 4.38 sqkm, including a 2 sqkm gated area

It is located adjacent to Al Maktoum International Airport in Dubai South

War 2

Director: Ayan Mukerji

Stars: Hrithik Roshan, NTR, Kiara Advani, Ashutosh Rana

Rating: 2/5

The%C2%A0specs%20
%3Cp%3E%3Cstrong%3EEngine%3A%3C%2Fstrong%3E%204-cylinder%202.0L%20TSI%0D%3Cbr%3E%3Cstrong%3ETransmission%3A%3C%2Fstrong%3E%20Dual%20clutch%207-speed%0D%3Cbr%3E%3Cstrong%3EPower%3A%3C%2Fstrong%3E%20320HP%20%2F%20235kW%0D%3Cbr%3E%3Cstrong%3ETorque%3A%3C%2Fstrong%3E%20400Nm%0D%3Cbr%3E%3Cstrong%3EPrice%3A%20%3C%2Fstrong%3Efrom%20%2449%2C709%20%0D%3Cbr%3E%3Cstrong%3EOn%20sale%3A%3C%2Fstrong%3E%20now%3C%2Fp%3E%0A

Director: Laxman Utekar

Cast: Vicky Kaushal, Akshaye Khanna, Diana Penty, Vineet Kumar Singh, Rashmika Mandanna

Rating: 1/5

The biog

Age: 59

From: Giza Governorate, Egypt

Family: A daughter, two sons and wife

Favourite tree: Ghaf

Runner up favourite tree: Frankincense 

Favourite place on Sir Bani Yas Island: “I love all of Sir Bani Yas. Every spot of Sir Bani Yas, I love it.”

F1 The Movie

Starring: Brad Pitt, Damson Idris, Kerry Condon, Javier Bardem

Director: Joseph Kosinski

Rating: 4/5

Manikarnika: The Queen of Jhansi

Director: Kangana Ranaut, Krish Jagarlamudi

Producer: Zee Studios, Kamal Jain

Cast: Kangana Ranaut, Ankita Lokhande, Danny Denzongpa, Atul Kulkarni

Rating: 2.5/5

Ibrahim's play list

Completed an electrical diploma at the Adnoc Technical Institute

Works as a public relations officer with Adnoc

Apart from the piano, he plays the accordion, oud and guitar

His favourite composer is Johann Sebastian Bach

Also enjoys listening to Mozart

Likes all genres of music including Arabic music and jazz

Enjoys rock groups Scorpions and Metallica 

Other musicians he likes are Syrian-American pianist Malek Jandali and Lebanese oud player Rabih Abou Khalil

Updated: June 17, 2025, 2:02 AM