DUBAI // Police and experts agree: underage drinking begins at home.
"They see their parents drink so the practice becomes normal," said a Dubai Police spokesman, who added that underage drinking was not uncommon in Dubai.
"The main source of alcohol for teenagers is what families have in their homes, and not what has been reported about teenagers getting it in illegal ways."
Dubai Police said there had been "light drinking" at the event.
Alcohol is illegal for Muslims and non-Muslims under the age of 21 in six of the emirates, and for those aged under 18 in Abu Dhabi.
Sarah Dayal, a psychologist at an international school in Dubai, agreed with the police line.
"In a society where many people are well-off, families have alcohol available in their homes," Ms Dayal said. "The bar in the house is their easy access."
One girl, 16, who attends an American school in Dubai, said her parents allowed her to have alcohol on special occasions.
"Yes, everyone drinks," she said. "My parents don't mind when I have a glass of wine on New Year's Eve or birthdays."
But she said it was a different story at some of the parties she attends.
"I go to parties where we have alcohol and sometimes we end up drinking more. But we don't intend on getting wasted," she said.
After Harry's death there were reports that youngsters were frequently gathering in empty flats for wild parties.
But teenagers, property agents and landlords in Motor City said this was a wild exaggeration.
"This one must have been a one-off case because I do not see teenagers hanging around here on the weekend," said Hussain, an Emirati who lives with his wife in Motor City.
Hussain also owns a few flats in the area, which he keeps unlocked for possible tenants to look at.
"To date I have not seen any signs of a party and all our furniture is intact," he said.
The girl said parties were typically hosted at her friend's houses while their parents were away: "Obviously, the parents don't know."
George H, a member of the UAE chapter of Alcoholics Anonymous, conducts regular school visits to educate children about the dangers of alcoholism.
"At this age there is a lot of ego and angst, and kids want to be accepted as part of the group," George said. "That association happens through alcohol.
"Many young people who drink are doing it in rebellion so they are conscious that they are breaking the law. It's the risk they enjoy."
He said the school visits are intended to help educators and parents to identify the signs of alcoholism among young people.
Schools actively drive home the message of the dangers of alcohol and substance abuse through programmes such as that run by George, for pupils and parents.
The British Embassy also conducts school visits to highlight the legal implications of underage drinking and substance abuse.
Becky Williams, a counsellor at Greenfield Community School, said educators there tried to impart lessons of self-confidence so teens learnt to say no and make positive choices.
"We have discussions on how to tackle situations where they feel pressured," Ms Williams said. "We need to develop them to make the right decisions for themselves."
Angela Hollington, the principal at Greenfield, said staff also held sessions with parents.
"We try to educate them on strategies to identify if their children have a problem and basically how they can build that trust with their child and communicate better," Ms Hollington said.
One British mother of two teenagers said she was not certain that her children did not drink. "We do live in the real world and teenagers will try things out," she said. "It happens all over the world."
She said she had to try to pass on the right message to her children without being too controlling.
"If we do not give them their independence the situation may become worse," she said. "My daughter has a curfew and I have to trust her with the boundaries I set."
aahmed@thenational.ae
* With additional reporting by Wafa Issa
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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.”