Ask the Expert: Tehran's winter ski slopes



I'm looking to arrange a ski holiday for this winter but because it's the busiest time of year at work, I can only manage a long weekend. That means I want to stay within the region rather than go to Europe and spend half my holiday travelling. Does that mean Lebanon is my only option?

The skiing in Lebanon is well-known, partly for the country's clutch of ski resorts but probably equally for the country's famous après ski.

However, there are other options within a few hours' flight of the UAE and - with the proviso that the political situation there becomes a little less fraught than currently - it's worth considering Iran.

The country has many factors in its favour: the two best ski resorts are close to Tehran, a lively and bustling city which is very easy to reach from Abu Dhabi and Dubai, the skiing is excellent and the people are some of the friendliest you'll ever meet.

Travel Tips&Advice

On a budget? Tight schedule? Whatever your quandary, seasoned travellers help you make the most of your destination.

The two main resorts, Dizin and Shemshak, are sited in the Alborz mountains that separate Tehran from the Caspian Sea and they offer very different experiences for the skier.

We would start at Dizin, the more family-friendly of the two and with generally easier terrain. This resort dates from the former Shah's era and hasn't changed much, which makes it feel like you're an extra in an early 1970s-era James Bond movie. The chairlifts involve riding in oeufs, which as the name suggests are egg-shaped pods painted in primary colours and with sliding doors. There are also poma drag lifts which are so brutal that they make you feel like you've undergone spontaneous bowel surgery.

Shemshak is smaller and much steeper, with fewer groomed slopes, and thus requires greater skiing ability. Instead of oeufs, there are chairlifts which threaten to do to the back of your legs what Dizin's pomas try to do to your nether regions. The compensations include it being easier to access the steep and the deep.

The real revelation at both resorts is that skiing off piste does not seem popular among the Iranians, who form the vast majority of those on the slopes, and that means it's still possible to ski untracked powder days after the last snowfall. There is an après ski scene here that can get pretty wild but nothing like Lebanon and it requires an invitation from a local.

There is ski hire at each place but the quality of the equipment is lower than you'd find at a European or North American resort. You're better off bringing your ski gear with you, if you have it. Women need to be very modest in their dress and manner, with most of their hair covered any time they are in public. The best aspect of the entire experience is meeting Iranians, who display an abundant friendliness that totally belies how their government is perceived by outsiders.

Do you have travel questions or queries? E-mail them to us at travel@thenational.ae

Company%20profile
%3Cp%3E%3Cstrong%3ECompany%3A%20%3C%2Fstrong%3EPOPC%3Cbr%3E%3Cstrong%3EStarted%3A%20%3C%2Fstrong%3E2022%3Cbr%3E%3Cstrong%3EFounders%3A%20%3C%2Fstrong%3EAmna%20Aijaz%2C%20Haroon%20Tahir%20and%20Arafat%20Ali%20Khan%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Dubai%2C%20UAE%3Cbr%3E%3Cstrong%3EIndustry%3A%20%3C%2Fstrong%3Eart%20and%20e-commerce%3Cbr%3E%3Cstrong%3EFunds%20raised%3A%20u%3C%2Fstrong%3Endisclosed%20amount%20raised%20through%20Waverider%20Entertainment%3C%2Fp%3E%0A
UAE currency: the story behind the money in your pockets

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.”

Formula Middle East Calendar (Formula Regional and Formula 4)
Round 1: January 17-19, Yas Marina Circuit – Abu Dhabi
 
Round 2: January 22-23, Yas Marina Circuit – Abu Dhabi
 
Round 3: February 7-9, Dubai Autodrome – Dubai
 
Round 4: February 14-16, Yas Marina Circuit – Abu Dhabi
 
Round 5: February 25-27, Jeddah Corniche Circuit – Saudi Arabia