The Luxury Home Market Confronts Its New Reality: Not Enough Buyers and Sellers
Sales at the high end continue to decline, as homeowners pull back on listing properties and would-be buyers grapple with high interest rates and recession fears
8 min
When Joan Dangerfield, wife of the late comedian Rodney Dangerfield, first walked into her Los Angeles home in the early 2000s, she knew immediately that she would buy it. The Art Deco-style estate, perched in the coveted Bird Streets above L.A.’s Sunset Strip, had dramatic views spanning Downtown Los Angeles to the ocean and Catalina Island.
“I stepped 3 feet into the house and I knew it was the place for me,” said Dangerfield, who paid $6.25 million for the property. “It swept me away.”
Roughly two decades later, Dangerfield, 70, is trying to sell the home—and finding that would-be buyers aren’t as eager as she once was. The $17.8 million listing for her property has been active since February and while she has received several full-price offers, they have come with complicated contingencies, such as requiring her to provide seller financing, she said.
“I figured it would sell in a week, but didn’t quite work out that way,” she said of the house, which is comparably priced with other homes in the area. “It was a shock for me to just watch it sit there on the market.”
Luxury sellers across the country are finding themselves in similar circumstances, as the high-end real-estate market faces a perfect storm of rising interest rates, recession fears and population shifts in the wake of the Covid-19 pandemic.
Sales of luxury homes nationwide, defined as the top 5% of homes based on estimated market value, declined by 24.13% in the three months ended June 30, compared with the same period last year, according to a new report by brokerage Redfin. Inventory of luxury homes was down 2.39% during that same period, while the median sales price for a luxury home was up by 4.55%. In many metros, homeowners appear to have pulled back on listing homes in light of the market shift. New luxury listings were down by 17.08% year-over-year in the three months ended June 30, Redfin’s data shows.
Sales of non luxury homes also fell during the same period, but that drop—19.42%—was smaller than the decline in the luxury market, according to Redfin.
“The luxury market is definitely hurting in terms of transactions,” said Daryl Fairweather, Redfin’s chief economist. “Even when you compare it to the rest of the market, it’s looking like luxury has really cooled off.”
The report marks the continuation of a market slide that began in earnest last spring, following an unprecedented deal-making frenzy during the pandemic. Redfin’s data shows that sales began to plummet significantly as early as June 2022, as buyers began to grapple with inflation and a volatile stock market. In the first quarter of 2023, luxury sales volume was down by 33.3% year-over-year.
Some of the biggest drops in sales volume over the three months ended June 30 were in markets that seemed unstoppable during the pandemic. The Miami metro area saw the largest drop in activity, for instance, with a 40.14% year-over-year reduction in luxury transaction volume for the three months ended June 30, according to Redfin.
Other metro areas with large drops included Nassau County on New York’s Long Island, where luxury sales volume dropped 39.34% year-over-year, followed by New York City, down 35.98%, Los Angeles, down 36.17%, and Chicago, which was down 34.13%.
Real-estate agents and industry experts said the luxury market’s performance has been uneven. That often comes down to pricing: In areas where sellers have capitulated to the declining market and dropped prices, transaction activity is holding relatively steady. But in markets where sellers are clinging to pandemic-era prices, activity has taken a nosedive.
In the San Francisco area, for instance, where median sales prices for luxury homes were down by 12.73%, there was only a 4.04% drop in transaction volume. “Because the prices have fallen, it’s opened up the opportunity for people who say, ‘I might finally be able to buy,’ ” Fairweather said.
In contrast, in markets like New York, Chicago and Los Angeles, prices have remained consistent or even risen slightly from last year, but transaction activity is way down. “There’s less demand, but it’s not enough of a pullback in demand to draw down prices,” Fairweather said.
In Miami, industry insiders say it is lack of supply, not lack of demand, that has caused the drop in activity. That’s thanks in large part to the mass migration to Miami and buying frenzy during Covid. “People who are going to sell have already sold,” Fairweather said, noting that new luxury listings in the Miami area were down by 33.1% year-over-year in the three months ended June 30. “There are definitely people who are moving to Miami who want to buy homes, but there are not necessarily homes for sale.”
Heigo Paartalu is among those buyers frustrated by a lack of inventory properties.
Paartalu, a Cigarette boat dealer and CEO of YachtWay, a digital boat show company, said he and his wife purchased a modern, five-bedroom house on Hibiscus Island, a gated island in Miami Beach, for $6 million in late 2021. The home value shot up 25% after about a year, so they cashed out and sold the house for $7.5 million in early 2023. Now, with a budget of around $10 million, they are looking for a waterfront property in the area without luck. “The inventory is very low and we’re not seeing the prices come down, which is what we were hoping for,” he said. The couple is currently renting in Miami’s Edgewater neighbourhood for $24,000 a month.
Jeff Miller of ONE Sotheby’s International Realty, Paartalu’s broker, said some homeowners aren’t selling because prices have gotten so high they won’t be able to buy something else in the area. Others don’t want to walk away from low mortgage rates. “It’s creating a huge shortage in our supply of available inventory and homes,” he said.
Even with a limited supply of inventory in Miami, Dina Goldentayer of Douglas Elliman said buyers have more leverage than they did last year for things like home inspections and closing credits. “I’m no longer taking the position of, ‘Take it or leave it,’ ” she said. “There are clear shifts that are making it seem like a normal market.”
In Los Angeles, the issues in the luxury market go far beyond an inventory crunch. Real-estate agent Juliette Hohnen of Douglas Elliman estimated that her business is down roughly 50% in that market from this time last year. At the height of the pandemic-fuelled market, she said, she had signed as many as 10 deals in a month. This July, she has only one so far. She chalked up the drop to rising interest rates, an outward migration from Los Angeles to lower-tax states, the introduction of a new mansion tax and more recently, the strike by both the actors’ and writers’ unions. She said she was slated to show an Oscar-winning writer around L.A. homes this month, but he called off his search in favour of renting amid the strikes.
The rising interest rates are keeping inventory low and stymying sales activity, Hohnen said. “Anyone who bought in the last few years has got these crazy low interest rates, usually between two and three percent,” she said. If those buyers sell now, they’ll be incurring rates that are almost double and potentially taking a loss on the sale.
Hohnen said she bought a $2.525 million home in 2021 in the Sag Harbor area of the Hamptons, securing an interest rate of just 1.875% for an adjustable-rate mortgage. Normally, she would buy, renovate and flip, but not this time, she said. “I’m never going to sell that house. I could never afford it if I was buying now. The monthly expenses on a new house would be too high.”
Dangerfield said she didn’t foresee how detrimental the mansion tax would be for her home’s prospects. The new measure, which was implemented April 1, requires sellers to pay 4% on sales of homes priced between $5 million and $10 million, and 5.5% on sales of properties at $10 million or above. “We were flooded with shoppers in March. Then, things just came to a screeching halt. It was such a change in the amount of people coming to view the home that it felt like it wasn’t even on the market,” she said.
One of Dangerfield’s agents, Marcy Roth of the Eklund Gomes team at Douglas Elliman, said the ULA tax “tainted buyer sentiment,” especially when combined with other issues like rising interest rates. “Everything is muddy and offers are complicated,” she said. “There aren’t a lot of quick, clean deals.”
In Chicago, real-estate agent Katherine Malkin of Compass said the city’s downtown area and so-called Gold Coast have been most affected by the slowdown. She said quality of life concerns like crime and an outward migration of some of the city’s businesses has put a damper on sales. Citadel, for instance, the hedge fund headed by billionaire Ken Griffin, recently left the city and moved to Miami. Other businesses that recently relocated their headquarters from Chicago include Boeing.
“You have businesses that are leaving because of the taxes,” Malkin said, noting that some prominent Chicago philanthropists and entrepreneurs have also left the city in the past few years. “They went to Florida, they went to Texas, they went to states that had a much lower tax circumstance. That’s been a difficult thing for people to grasp.”
Some sellers, Malkin said, have been reluctant to lower prices significantly—median luxury sales prices were actually up by more than 6.82% in Chicago in the three months ended June 30—which has been a further drag on sales. “No person of means wants to give their property away when they feel that they’ve invested in it,” she said.
When sellers have capitulated to the market, it has led to activity, Malkin said. She said one of her clients, who public records identify as private-equity executive John Weaver “Jay” Jordan II, recently lowered the price of a roughly 20,000-square-foot townhome in the Gold Coast neighbourhood to $15.75 million from the $18.75 million it listed for in 2020. While the home hasn’t yet sold, the price cut resulted in a new wave of interest, Malkin said. Jordan, who paid $1.8 million for the house in 1996 and remodelled it extensively, didn’t respond to a request for comment.
Although luxury median sale prices in the New York metro area are up by 7.69% for the three months ended June 30 compared with the year-earlier period, the slower pace of sales has allowed some opportunistic buyers to ink great deals. Vanessa Lucin of the Corcoran Group recently worked with buyers who paid $6 million for an Upper West Side apartment that was first listed for $7.495 million in June 2022. The roughly 3,383-square-foot apartment has two private balconies and is currently configured as a four bedroom, according to StreetEasy. Lucin said the couple is relocating to New York from California and began searching in January, when the market had slowed from its Covid peak. “There was another offer on the table but it wasn’t going anywhere,” she said.
Daniel Parker, co-head of Compass New Development Marketing Group, said some recent condo closings reflect deals struck during the more robust market in 2021 and 2022. In pockets of the city, such as Billionaires’ Row and Hudson Yards, developers have offered significant discounts. “They are embracing the market we have rather than the market they wish we had,” he said.
However, there are signs of life. Agents in New York reported a recent pickup in big-ticket deals this summer; in particular, large downtown condos have been the “golden sweet spot” of the market, said luxury real-estate agent Donna Olshan. A string of mega deals downtown over the past few weeks include the $52 million off-market sale of a penthouse at 150 Charles Street, the $50 million off-market sale of penthouse at 151 Wooster Street, and a signed contract for a penthouse asking $52 million at One High Line in Chelsea.
Sylvia Hughes, Lucin’s client, said she and her husband, John Hughes, saw several apartments before making an offer on their new four-bedroom on the Upper West Side. “I think the seller was motivated. This apartment had languished,” she said. By the time they saw it, the original $7.495 million asking price had been reduced to $6.195 million and their offer of $6 million was accepted. “I was beginning to wonder if we should have offered less.”
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Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Americans now think they need at least $1.25 million for retirement, a 20% increase from a year ago, according to a survey by Northwestern Mutual
Product designers are embracing how users actually feel after years of pushing flat and sleek
5 min
The tyranny of touch screens may be coming to an end.
Companies have spent nearly two decades cramming ever more functions onto tappable, swipeable displays. Now buttons, knobs, sliders and other physical controls are making a comeback in vehicles, appliances and personal electronics.
In cars, the widely emulated ultra-minimalism of Tesla’s touch-screen-centric control panels is giving way to actual buttons, knobs and toggles in new models from Kia , BMW ’s Mini, and Volkswagen , among others. This trend is delighting reviewers and making the display-focused interiors of Tesla and its imitators feel passé.
Similar re-buttonisation is occurring in everything from e-readers to induction stoves.
Perhaps the most prominent exponent of this button boom is the company that set us lurching toward touch screens in the first place. Apple added a third button it calls the “action button” to its full slate of new iPhone 16s unveiled this month, after introducing the feature on its upscale Apple Watch Ultra and Pro-model iPhones over the past couple of years. It also added a button-like “camera control” input on the iPhone’s side.
As Apple shows, companies aren’t just rediscovering buttons, they’re reconceiving them. The camera control includes touch features, and the company has also developed the “force sensor” that enables its AirPods to respond when you squeeze their stems.
Engineers and industrial designers—often prodded by user complaints—are tapping into our exquisitely sensitive sense of touch and spatial awareness, known as proprioception. And it’s all in service of making gadgets easier, more fun and, in some cases, safer to use. We want to touch type or operate cruise control without averting our eyes from the road.
Why buttons became sensors
To understand why buttons are making a comeback in a world in which any kind of controls are possible, it helps to understand how we got to the current, too-often sorry state of human-machine interfaces.
Touch screens have their virtues, which explains the initial enthusiasm for them. We can do a lot more by tapping our iPhones than we ever could have with the old-school BlackBerry , however much we miss those clicky little keyboards.
As soaring production drove down the price of such displays, though, they became something of a crutch for gadget designers and corporate bean counters.
“Now that touch screens are the cheapest option, they’re being deployed everywhere, even in places where they don’t belong,” says Sam Calisch, chief executive of Copper, a startup that makes induction ranges for cooking . In electric stoves and ovens, this has led to poor design decisions—for example, induction cooktops with touch-based controls that become inoperable when a pot boils over, as my Wall Street Journal colleague Nicole Nguyen lamented last year .
Even when our devices have buttons, they are too often the kind that are flat like touch screens, and have similar shortcomings. Capacitive buttons sit flush on hard surfaces and don’t actually give way when you press, and so can only signal they’ve been activated through sound or light. These, too, have taken over because they are cheap and easy to incorporate into the printed circuit boards that are already inside gadgets, whereas incorporating physical switches means additional wiring and complexity, Calisch says.
Anyone who has known the agony of having to mash a capacitive button on a newer washer, dryer or dishwasher knows how uniquely infuriating such cost-cutting measures—masquerading as futuristic interfaces—can be.
The hazards of ‘touch’ interfaces
Fundamentally, the problem with touch-based interfaces is that they aren’t touch-based at all, because they need us to look when using them. Think, for example, of the screen of your smartphone, which requires your undivided gaze when you press on its smooth surface.
As a result, “touch screen” is a misnomer, says Rachel Plotnick, associate professor of cinema and media studies at Indiana University Bloomington, and author of the 2018 book “Power Button: A History of Pleasure, Panic, and the Politics of Pushing,” the definitive history of buttons. Such interfaces would be more accurately described as “sight-based,” she says.
The hazards of burying many of a vehicle’s controls inside touch-screen menus that need drivers to look at them have become so obvious that the one European automotive safety body has declared that vehicles must have physical switches and buttons to receive its highest safety rating. Responding to criticism from drivers, Volkswagen has pledged to bring back physical controls for certain oft-used features, such as climate control.
Newer electric vehicles from BMW Mini are bristling with physical controls. To make it so drivers never have to take their eyes off the road, industrial designers at Mini put into their vehicles a user-customizable head-up display that drivers can navigate using buttons and a scroll wheel on the steering wheel, says Patrick McKenna, head of product and marketing at Mini USA. These controls can also be accessed through the vehicle’s round touch screen, and via a voice assistant. The entire point of the vehicle’s interfaces is redundancy, safety and a reduction in distractions, he adds.
Satisfying switches and clicky keyboards
The switch back to physical interfaces is also, in many ways, a vibe shift. With touch screens ubiquitous, what was once viewed as luxurious is becoming tacky. Physical controls, done well, now signal the kind of thoughtfulness and exclusivity once attached to the original iPhone.
Take the knobs on the induction range from Copper. Made of walnut, they let cooks know, without looking, the level of heat they’ve set a burner to—just like physical knobs on a gas range. This is deliberate, says Calisch, who admits that in the past he’s put capacitive-touch sensors on other electronics he’s designed.
Physical controls are effective in part because of our sixth sense, known as proprioception. Distinct from the sense of touch, proprioception describes our innate awareness of where our body parts are. It is the reason we can know the position of all our limbs in three-dimensional space down to the precise position of the tips of our fingers.
Making good physical interfaces isn’t just about the utility of engaging our sense of touch; the big button comeback is also about joy. Think of the satisfying heft of the volume knob on a hi-fi stereo, or the way a proper ergonomic keyboard can make typing seem less of a chore.
A good example of this sense of fun is the hand crank on the side of the Playdate portable video game system, which also includes a familiar, plus-shaped D-pad and two buttons. Putting a controller that works like the crank on an old coffee grinder onto a gadget resembling the original Gameboy is about whimsy, but also introduces new game mechanics that would otherwise be cumbersome or even impossible on other devices, says Greg Maletic, director of special projects at Panic, the company that makes the Playdate.
Makers of musical instruments have always understood the importance of physical controls. Teenage Engineering, the Swedish consumer-electronics company Panic partnered with to make the Playdate, makes a variety of synthesisers bristling with a dizzying array of buttons, sliders and knobs.
Once you know what to look for, it becomes apparent that this kind of design thinking is showing up all over the place, and that adding physical controls back to a device ignominiously stripped of them can unlock new kinds of interaction and utility.
E-readers have begun adding back page-turn buttons. While Amazon has abandoned such buttons in its Kindles, competitors from Kobo, Nook and Boox all now offer models that include them.
Similarly, Apple—whose 2007 launch of the iPhone ushered in a touch-screen era—is adding a surprising variety of buttons back to devices that previously seemed on a trajectory to have none at all.
It restored the physical function keys atop the keyboards on its MacBook Pro computers in 2021, after replacing them with much fanfare in 2016 with a touch-screen strip that it touted as the Touch Bar. Apple boasted that restoring physical keys brought “back the familiar, tactile feel of mechanical keys that pro users love.”
The push to re-physicalise interfaces has even led to an unexpected side gig for Dr. Plotnick, the academic authority on buttons. Companies are tapping her to consult on how to improve their physical controls. At its heart, these consultations—which include advising on the function of potentially lifesaving buttons on medical devices—are about making interactions with machines less intimidating and more intuitive.
“You know, there’s often a lot of skill behind button pushing—even though it seems like the simplest thing in the world,” she says.
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Americans now think they need at least $1.25 million for retirement, a 20% increase from a year ago, according to a survey by Northwestern Mutual
Both models come with LED headlights and taillights as standard, with the option to upgrade to TOP LED Matrix headlights.
2 min
Škoda Middle East has introduced the new Škoda Scala and Kamiq models to the region, highlighting the brand’s focus on sleek design, advanced technology, and enhanced safety. These upgrades are designed to meet the needs and preferences of drivers in the Middle East.
The new Kamiq and Scala, tailored for both urban and long-distance driving, incorporate cutting-edge innovations that are expected to resonate well in the regional market. They combine modern styling with efficient performance and an array of advanced features.
The Škoda Kamiq now boasts a more assertive appearance, a rugged SUV character, and improved technology. Its compact size, superior fuel efficiency, and advanced connectivity make it a perfect fit for city streets as well as highways.
Meanwhile, the Škoda Scala, a sporty hatchback influenced by the Vision RS concept, showcases a refreshed grille and bumper with dynamic design elements. Despite its compact platform, it offers generous space for both passengers and cargo, with an interior that mirrors the quality seen in Škoda’s premium models.
Commenting on the launch, Lukas Honzak, Managing Director of ŠKODA Middle East, stated: “The introduction of the new Scala and Kamiq reflects our commitment to offering vehicles that perfectly balance performance, practicality, and modern features. These models are designed with the region’s drivers needs in mind, combining cutting-edge technology with refined design to deliver a seamless driving experience, whether navigating city streets or covering longer distances.”
Enhanced Features and Technology for Middle Eastern Drivers
Both the Škoda Scala and Kamiq come with standard LED headlights and taillights, with the option to upgrade to TOP LED Matrix headlights. These advanced lights allow full beam use at night, with smart technology to prevent glare for other drivers. Both models have separate LED fog lights, as standard, in the bumper for better visibility in tough conditions. Additionally, for the first time, both models offer an optional electric boot with a virtual pedal, allowing hands-free boot access by waving a foot under the rear bumper—ideal when your hands are full.
The Kamiq offers an optional panoramic sunroof for a more spacious driving experience. It comes with an 8.25-inch Škoda Infotainment System and an 8-inch Digital Display, with optional upgrades to a 9.2-inch Škoda Navigation System and 10.25-inch Virtual Cockpit for a more high-tech feel. Phone pockets have been added to the back of the front seats for convenient mobile storage. Both models also feature up to five USB-C ports, ensuring easy connectivity and charging on the go.
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Interior designer Thomas Hamel on where it goes wrong in so many homes.
Whether you’re a first-time racer or a seasoned professional, this new attraction offers the perfect opportunity to unleash your inner racer.
2 min
Ferrari World Yas Island, Abu Dhabi has officially opened the doors to the world’s first Ferrari-themed Esports Arena. This new, state-of-the-art attraction promises an unmatched racing experience for families and friends.
The arena, located at one of the world’s premier theme parks, offers visitors the chance to test their racing skills on 20 high-performance Gran Turismo simulators. These include 14 simulators for adults, 6 for children, and 3 F1 simulators, providing a thrilling challenge for racers of all ages.
In a commitment to inclusivity, the arena has also been equipped with two Gran Turismo simulators specifically designed for people of determination.
Guests can race on 9 official tracks, including iconic circuits like Monza, Imola, Silverstone, and Yas Marina, while choosing from 10 Ferrari cars—7 GT models and 3 F1 models. Each month, a new track will be introduced, offering fresh challenges and exciting experiences. The Ferrari World Esports Arena features a striking black-and-red design, paired with high-performance PCs, pro-grade equipment, and the latest consoles, to guarantee a fully immersive and thrilling racing experience.
Theme Park entry tickets will include access to the GT simulators until year end, while the F1 simulators are available at an additional fee starting from AED 60 per race.
Ferrari World’s Esports Arena is set to trigger the competitive spirit in racers of all skill levels. Whether you’re a first-time racer or a seasoned professional, this new attraction offers the perfect opportunity to unleash your inner racer.
Located on Yas Island, Ferrari World Yas Island, Abu Dhabi is right next to the ultimate adventure hub CLYMB™ Yas Island, Abu Dhabi. It is also just minutes away from the region’s largest indoor theme park Warner Bros. World™ Yas Island, Abu Dhabi, Yas Waterworld Yas Island, Abu Dhabi, the world’s first and only Emirati-themed waterpark and the world’s largest indoor marine-life theme park SeaWorld® Yas Island, Abu Dhabi.
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Following the devastation of recent flooding, experts are urging government intervention to drive the cessation of building in areas at risk.
Two iconic UAE venues added to portfolio following partnership announcement in 2023 to strengthen venue and hospitality industry in the region
2 min
Oak View Group (OVG) and Ethara proudly announce the addition of two iconic venues to their portfolios: Zayed Sports City in Abu Dhabi and House of Sustainability (formerly UAE Pavilion) in Expo City Dubai. This expansion follows the announcement in 2023 that would see the partners transform the venue and hospitality industry in the region under OVG Middle East and marks a pivotal moment for the two entities as they seek to strengthen their presence in the MENA region.
Jessica Koravos, President of OVG International, commented: “We are thrilled to be expanding OVG’s venue portfolio with the first two venues in the region under OVG Middle East. They each embody excellence in their respective domains with Zayed Sports City’s rich heritage of world-class sporting and entertainment events, and the House of Sustainability with its groundbreaking design and significance in Expo City Dubai. This expansion aligns perfectly with our vision of delivering bespoke venue and hospitality solutions and commitment to delivering exceptional experiences at world-class facilities throughout the region.”
David Powell, Chief Strategy & Business Development Officer of Ethara, added: “Ethara has a legacy of operating four of the region’s most iconic and groundbreaking venues in Yas Marina Circuit, Etihad Arena, Etihad Park, and Yas Conference Centre – which have each helped shape the event and venue industry in the region over the last 16 years. Through our partnership with OVG, we look forward to integrating Zayed Sports City and the House of Sustainability into our portfolio as we look to evolve to meet the ever-evolving demands of the industry under OVG Middle East.”
Zayed Sports City has long been a cornerstone of Abu Dhabi’s sporting and entertainment landscape. It features a diverse range of facilities, including the Zayed Sports City Stadium, International Tennis Centre, Khalifa International Bowling Centre, Zayed Sports City Ice Rink, and Mubadala Pavilion. The venue has hosted prestigious events such as the Mubadala World Tennis Championships, WTA sanctioned Mubadala Abu Dhabi Open, five editions of the FIFA Club World Cup, AFC Asian Cup, UAE National Day celebrations, and notable visits including Pope Francis and Prime Minister Modi. Its comprehensive facilities cater to community activities, professional sports, and world-class events which will see Zayed Sports City Stadium host four shows on Coldplay’s ‘Music of the Spheres’ World Tour on 9, 11, 12, and 14 January 2025, International Tennis Centre host the Mubadala Abu Dhabi Open from 1-8 February 2025, alongside other large sporting and community events.
The House of Sustainability, formerly the UAE Pavilion at Expo 2020 Dubai, stands as a symbol of innovation and sustainability. Designed by Santiago Calatrava, it offers 8,000 square meters of exhibition space and continues to play a central role in Expo City Dubai. The venue’s transition from Expo 2020 to its current role underscores its significance as a hub for sustainability and architectural excellence.
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
ZEEKR AWR’s participation at the WETEX highlights its strategic goal of promoting electric vehicle (EV) adoption in the UAE
2 min
ZEEKR AWR announced its debut at the WETEX, the region’s largest exhibition dedicated to sustainability, clean energy, and technology. Demonstrating its commitment to innovation and environmental responsibility, ZEEKR AWR will showcase its premium electric mobility brand at the Dubai World Trade Centre from October 1 to 3, 2024. Organized by the Dubai Electricity and Water Authority, WETEX serves as a key platform for advancements in sustainable energy, water, and environmental solutions.
ZEEKR AWR’s participation highlights its strategic goal of promoting electric vehicle (EV) adoption in the UAE, supporting the country’s net-zero emissions targets. Visitors to Stand 16 in Sheikh Maktoum Hall will have the opportunity to explore two featured models: the ZEEKR 001, a premium electric shooting brake known for its sleek design and long range, and the ZEEKR X, a compact SUV offering cutting-edge safety features and a versatile interior.
Key Highlights and Expert Panels:
On the 2nd of October, Roberto Colucci, Director of Electric Mobility at ZEEKR AWR, will join the “Urban Development & Creating Sustainable, Livable and Resilient Cities” to share his insights on EV solutions that integrate seamlessly with smart buildings and renewable energy infrastructure. Colucci will also be joining the “Utilities Trends & Innovation Panel” on October 3rd to discuss the latest in EV innovation, infrastructure, battery technology, and related advancements. He will explore ZEEKR’s approach to overcoming EV adoption barriers, focusing on infrastructure enhancements, advanced battery technology, and grid modernization efforts aimed at achieving zero carbon emissions.
Roberto Colucci stated, “Participating in WETEX is strategically important for ZEEKR AWR as it allows us to showcase our innovative EV solutions to key stakeholders in the sustainability sector while reinforcing our commitment to the UAE’s net-zero ambitions. This event provides a vital platform for collaboration and dialogue on the future of electric mobility.”
Cannon Wang, Regional Managing Director, ZEEKR Middle East & Africa, added: “WETEX 2024 is a significant opportunity for ZEEKR, alongside our partner AWR, to support the UAE’s ambitious Net Zero goals. Together, we are not only delivering cutting-edge electric vehicles but also advancing the nation’s commitment to sustainability. By driving innovation and building key partnerships, we’re paving the way for a cleaner, greener future in alignment with the UAE’s vision for zero-emissions mobility.
As part of the brand’s participation at WETEX, Ahmed Shehab, Regional Director of Product & Strategy at ZEEKR MEA, will deliver a keynote presentation on ZEEKR’s advanced technologies, offering insights into the brand’s innovative EV solutions.
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Set to open in 2028, Waldorf Astoria Al Madinah will mark the debut of the award-winning brand in Madinah
2 min
Taiba Investments has announced a strategic partnership with Hilton to introduce the prestigious Waldorf Astoria Hotels & Resorts brand to the holy city of Madinah. The agreement, signed at the Future Hospitality Summit (FHS) World in Dubai, highlights Taiba Investments’ continued expansion into the luxury hospitality market and emphasizes the company’s dedication to enhancing Saudi Arabia’s tourism industry through collaborations with globally recognized hospitality brands like Hilton.
Commenting on the partnership, Sultan Al Otaibi, CEO, Taiba Investments, said: “This agreement marks a pivotal moment in our strategic growth, reflecting our unwavering commitment to enhancing Saudi Arabia’s hospitality offering across diverse segments. Our collaboration with Hilton and Waldorf Astoria Hotels & Resorts will elevate tourism and hospitality by delivering an extraordinary guest experience in line with the “Pilgrim Experience Program”. This project not only reaffirms our leadership in the sector but also highlights our dedication to Saudi Vision 2030 by providing world-class accommodation that honor the Kingdom’s rich heritage.”
Set to open in 2028, Waldorf Astoria Al Madinah will mark the debut of the award-winning brand in Madinah, introducing its unparalleled standards of luxury and signature service to the holy city. Uniquely situated on the northern side of the Prophet’s Mosque (PBUH), the hotel boasts exclusive, direct views of the holy site and is only a few minutes’ walk away.
Carlos Khneisser, Vice President, Development, Middle East and Africa, Hilton, said: “We are delighted to extend our partnership with Taiba Investments through this remarkable project. Saudi Arabia remains one of our fastest-growing markets where we plan to grow our footprint to exceed 100 hotels in the coming years. Waldorf Astoria Al Madinah will bring the brand’s timeless hospitality and elegant service near one of the world’s most sacred sites. Together with Taiba, we look forward to expanding our network across the Kingdom and delivering unforgettable experiences to our guests.”
Waldorf Astoria Al Madinah will feature more than 300 sophisticated guest rooms and suites, three world-class dining concepts including the celebrated Peacock Alley café and two thoughtfully curated restaurants including a signature venue. The hotel will house two multi-functional halls, a boardroom, private club lounge, a prayer room, as well as a fitness center.
By pioneering transformative projects, Taiba Investments aims to significantly contribute to local economic growth, generate valuable job opportunities, and support the tourism infrastructure development, all while delivering an experience deeply rooted in tradition.
As part of this strategy, Taiba Investments will renovate the existing Taiba Front Hotel, rebranding it as Waldorf Astoria Al Madinah. This transformation will merge the global brand’s timeless luxury with the cultural essence of the holy city, elevating the property’s sophistication and exclusivity while consolidating Taiba’s position as a key player in redefining Madinah’s hospitality landscape.
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
The showroom showcases a variety of Geely models, each exemplifying the brand’s commitment to refined design.
2 min
AGMC, the official distributor of Geely Auto in the UAE, has strengthened its presence in the country by expanding its sales and aftersales network with the launch of a new Geely showroom and service facility in Abu Dhabi. This new location showcases Geely’s diverse and sophisticated vehicle lineup while offering enhanced support to customers in the UAE’s capital.
The Abu Dhabi showroom delivers an elevated customer experience, providing a seamless journey from sales to aftersales, along with the exceptional service standards AGMC is known for. A wide range of Geely models are on display, reflecting the brand’s dedication to refined design, cutting-edge technology, and outstanding driving performance.
The new facility is not just a showroom, but also a fully integrated service center, offering a comprehensive range of automotive care, including periodic maintenance, general service, and warranty repairs. Staffed by highly trained technicians skilled in bodywork, maintenance, and spare parts, its strategic location ensures greater convenience and faster service for all customers, including fleet operators. Additionally, as part of the second phase of expansion, a regional warehouse and body shop are set to open in the coming months to further enhance service capacity.
Commenting on the launch of the new showroom, Dr Andreas Schaaf, CEO – Geely Group Brands at AGMC said: “Geely is one of the fastest growing brands in the UAE and we are thrilled to be able to provide Geely customers in Abu Dhabi now with the world-class service and premium experience AGMC is renowned for. As we invite our valued customers to Abu Dhabi’s Mussafah district, we are confident that they will find a Geely model of their choice from our award-winning portfolio of attractive, innovative and reliable vehicles that allow aficionados to fully immerse themselves in the complete spectrum of driving experiences.”
The new showroom in Abu Dhabi follows the progressive opening of Geely’s showrooms in Dubai, Sharjah and, most recently, Ras Al Khaimah, and reinforces the brand’s position as one of the fastest growing automotive leaders in the UAE and beyond. Geely’s presence in Abu Dhabi will further expand with another showroom opening soon on Airport Road, emphasizing the importance of this market.
Customers in Abu Dhabi can look forward to a welcoming and dynamic environment, where they can explore, test drive, and purchase their favorite Geely at their leisure. With ample parking adding further convenience, the Abu Dhabi showroom provides the perfect launchpad to cater to Geely’s growing popularity among UAE customers.
Among the impressive Geely models on display at the showroom and available for test drive is the all-new Geely Starray, the brand’s ultramodern SUV that blends luxury, technology, and modern design to create a truly one-of-a-kind driving experience.
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
The event will take place from November 19 to 23 at Al-Thumamah Airport, Riyadh, showcasing thrilling aerial displays and interactive exhibitions.
2 min
The Saudi Aviation Club has announced the highly anticipated return of the Saudi General Aviation Airshow – Sand & Fun 2024, the Middle East’s leading General Aviation Airshow. Scheduled to take place from November 19 to 23, 2024, the event will be held at Al-Thumamah Airport, Riyadh.
Now in its sixth edition, this event promises to be the largest aviation gathering in the region, featuring over 100 exhibitors, more than 15 airshow teams, and an expected attendance of more than 100,000 visitors.
HRH Prince Sultan Bin Salman Bin Abdulaziz, Founder & Chairman of the Saudi Aviation Club, said: ” The Saudi General Aviation Airshow – Sand & Fun 2024 is more than just an airshow; it is a celebration of aviation innovation and a testament to the spirit of flight that lives in the heart of the Kingdom. We are proud to host this event, which not only showcases the best in aviation but also inspires future generations to reach for the skies. We cannot fail to extend our highest thanks to our leadership, for their continuous support for the sector and for youth in all fields”.
H.E. Dr. Ahmed Fahad Alfahaid, a Board Member, Executive Director of the Saudi Aviation Club said: “We are thrilled to bring together the global aviation community once again for what promises to be a truly unforgettable event. Sand & Fun is a unique platform for innovation, education, and cultural exchange, highlighting Saudi Arabia’s growing prominence in the aviation sector, which enjoys continuous support from our leadership”.
The Saudi General Aviation Airshow – Sand & Fun 2024 will showcase thrilling aerial displays, a diverse range of aircraft, interactive exhibitions, and an exciting concert lineup, all designed to celebrate aviation culture and inspire the next generation of enthusiasts. Families and kids are set to enjoy a variety of entertainment and food options, including exhibitions and musical shows that cater to all ages. This year’s show will also feature the SkyVentures Air Show, where top talents from around the globe will perform breathtaking maneuvers, demonstrating the pinnacle of aviation skill and artistry. The event will culminate with a spectacular music concert, providing a grand finale to a week of aviation excitement.
Sand & Fun will serve as a premier platform for key regional decision-makers to delve into the latest advancements in aviation technology and innovations. It will facilitate the forging of strategic partnerships among industry leaders, fostering collaboration and growth in the aviation sector.
Attendees will have the opportunity to engage in meaningful discussions on the future of aviation, addressing emerging trends, challenges, and opportunities. This environment aims to drive progress and innovation, positioning the Middle East as a pivotal hub in the global aviation landscape. Alongside these insightful sessions, visitors can also look forward to an exciting array of entertaining activities, with interactive experiences, live shows, and immersive displays – offering fun and engaging activations throughout the event.
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Setting a new standard for how stories, thoughts, prayers, and documentaries are listened to
2 min
Podeo is once again transforming the podcasting industry through its latest collaboration with Dolby Laboratories, integrating Dolby Atmos® immersive audio into its platform.
This cutting-edge addition enhances the podcast experience by bringing audio content to a new level, redefining how stories, reflections, prayers, and documentaries are experienced by listeners.
By leveraging Dolby Atmos’ advanced spatial sound capabilities, Podeo allows creators to immerse their audiences deeply within the narrative. With this technology, creators can craft intricate, layered soundscapes that engage listeners on a whole new level. Every whisper, sound effect, and musical note gains vivid clarity, pulling audiences into the heart of the content. Whether it’s a gripping mystery, a thought-provoking interview, or an evocative travel journal, listeners will feel part of the journey, experiencing it as if they were there.
“Imagine sound moving around you—above, below, and all around—capturing every nuance of emotion, action, and environment. This isn’t just listening anymore; it’s feeling the story unfold,” said Stefano Fallaha, CEO and Founder of Podeo. “The integration of Dolby Atmos in our service is a testament to Podeo’s relentless pursuit of empowering creators to forge deeper connections with their audiences and take their podcasts to new heights. We are raising the bar for the entire industry.”
Karan Grover, Senior Director at Dolby Laboratories, IMEA, added: “Podeo has always been at the forefront of Arabic-language podcast innovation. With Dolby Atmos, they’re delivering an experience that exceeds expectations, setting new benchmarks for both creators and listeners. We look forward to working with Podeo to transform the podcast landscape, with a deeper, richer, and more lifelike spatial sound experience that makes listeners love podcasts more in Dolby.”
Podeo is laser-focused on integrating cutting-edge technology across its distribution arsenal. With Dolby Atmos now rolled out on the Podeo app — the #1 Arabic podcast app for listeners and creators in the MENA with 4M+ shows Podeo continues to lead the way in reshaping the podcast experience. This integration cements Podeo’s role as an industry trailblazer, ushering in a new era of immersive sound that redefines how creators and audiences engage with audio.
Additionally, Podeo recently announced successful Series A funding, raising $5.4 million to enhance podcast discoverability and monetization as it expands globally, further solidifying its position as an industry leader.
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
“Bahrain Surf Park – Club Hawaii Experience” is expected to attract approximately 300,000 visitors per year
3 min
Bahrain’s Real Estate Investment Company, Edamah, Mumtalakat‘s real estate arm, in partnership with GFH Financial Group (GFH), has announced the launch of the “Bahrain Surf Park – Club Hawaii Experience,” the first surf park in the Middle East and North Africa to feature the cutting-edge ‘Wavegarden Cove’ technology.
The surf park will be the initial leisure and entertainment component of the larger Bilaj Al Jazayer development, a 1.3 million square meter project located along Bahrain’s southwest coast. Bilaj Al Jazayer, recognized as Bahrain’s Best Leisure Development by the Arabian Property Awards, will also include luxury beachfront hotels, residences, and commercial spaces.
Shaikh Abdulla bin Khalifa Al Khalifa, CEO of Mumtalakat and Chairman of Edamah, stated, “We are excited to announce the development of “Bahrain Surf Park – Club Hawaii Experience”, which will be transformational for the tourism and recreation sectors in the Kingdom of Bahrain. This pioneering project reflects Edamah’s commitment to innovation and our focus on investing in local initiatives that will strengthen the tourism infrastructure in the Kingdom, while also enhancing Bahrain’s attractiveness as a tourist destination.”
GFH Group CEO and Board Member, Hisham Alrayes, “Our partnership with Edamah to bring the first Surf Park to the region, using Wavegarden Cove technology, reflects GFH’s commitment to innovative and transformative projects. “Bahrain Surf Park – Club Hawaii Experience” at Bilaj Al Jazayer will elevate Bahrain’s profile as a tourism destination and provide a dynamic recreational venue for locals and visitors alike. We are proud to be part of this milestone development.”
Wavegarden’s Chief Commercial Director Fernando Odriozola added, “We are very proud to partner with “Bahrain Surf Park – Club Hawaii Experience” and bring our world-class waves and the incredible sport of surfing to the region. The Wavegarden Cove surfing lagoon offers the most varied wave menu on the market, designed for surfers of all ages and levels. With consistent waves of different shapes and sizes, “Bahrain Surf Park – Club Hawaii Experience” is going to be an amazing beach destination for people from the entire area, travelling surfers, and tourists alike.”
Also included in the Bahrain Surf Park is Club Hawaii Surf Academy. Club Hawaii will train, mentor and develop surfers of the future through a series of comprehensive training programs for beginners, improvers, intermediates and advanced surfers. Club Hawaii acknowledges, through its brand, the spirit of Hawaii, the birthplace of surfing.
“Bahrain Surf Park – Club Hawaii Experience” is expected to attract approximately 300,000 visitors per year, with upwards of 140,000 surf sessions annually. The park will feature F&B outlets, a spacious terrace, a retail store, cabanas, event space, and a large private entertainment area for corporate or school groups. There are also plans to host a major international surfing competition at the park in 2026.
The Wavegarden Cove can accommodate up to 90 surfers and produce up to 1,000 waves per hour, catering to all skill levels from beginners to elite surfers. The wave-making technology has the lowest energy consumption on the market, and the facilities provide a vast range of social and economic benefits to local communities.
“Bahrain Surf Park – Club Hawaii Experience” is scheduled to open in 2026.
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Marking Stefano Ricci’s first club design, the Sindalah Yacht Club spans 1,800 square meters in an idyllic setting on NEOM’s inaugural island development.
2 min
As Sindalah, NEOM’s first island destination, gears up for its opening later this year, NEOM has unveiled stunning interior designs for the Sindalah Yacht Club, offering a preview of the island’s marina gem. Developed in collaboration with renowned Italian designer Stefano Ricci, the yacht club is set to become a premier hub for yacht owners, providing an unparalleled gateway to the Red Sea.
This marks Stefano Ricci’s debut in club design, with the Sindalah Yacht Club spanning 1,800 square meters in a picturesque setting on NEOM’s inaugural island. As Sindalah becomes a draw for the global yachting community and leisure travelers alike, this cutting-edge venue is poised to be a signature gathering place, embodying the artistic vision of its creators.
Future guests and club members will enjoy breathtaking views at the Sindalah Yacht Club while relaxing by its serene terrace pool. The venue will also feature a lounge, and an exclusive fine-dining experience curated by Chef Enrico Bartolini, a culinary maestro whose restaurants have collectively earned 13 Michelin stars. The venue will offer elevated Italian cuisine, perfectly complementing Stefano Ricci’s vision of refinement.
Nicholas Smith, General Manager of Sindalah, said: “As we place the finishing touches on NEOM’s inaugural island destination, we are thrilled to share with the world a behind-the-scenes look at what Sindalah will have to offer. Our partnership with Stefano Ricci represents our dedication to enthralling future visitors and offering a truly premium experience for the world’s yachting enthusiasts.”
Stefano Ricci, Founder and Chairman of STEFANO RICCI, said: “I entered the Sindalah Yacht Club project because I believe that NEOM is a visionary undertaking ahead of its time, like Florence which became the cradle of the Renaissance. It’s a beautiful jump into the future that recalls our mission. As a Florentine designer, I hope to have conveyed the fine stylistic balance that ideally unites these two worlds.”
Inspired by nature’s splendor and famed Italian artistry, the Sindalah Yacht Club’s interior design is rich in both grandeur and historical influence. Reflecting the island’s natural charm, the Yacht Club’s interiors feature white Carrara marble, while accents of Sindalah Blue – a unique color created by Stefano Ricci to represent the island’s pristine surrounding waters glimmer in briar-root wood surfaces. The restaurant’s coffered ceiling and hand-woven textiles from the historic Antico Setificio Fiorentino in Florence add a refined touch of sophistication to the space.
IGY Marinas will oversee the management of the Sindalah Yacht Club, offering exceptional services to yacht owners and club guests alike. Designed to offer a sophisticated haven, the Sindalah Marina will provide outstanding berthing facilities for superyachts up to 180 meters in length. With its prime location, it offers direct access to some of the world’s most beautiful waters, making it an ideal year-round home port for adventurers and luxury seekers.
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Located on Dubai Islands, Swissôtel Waterfront Residences at Dubai Islands is scheduled to open in 2027, featuring 105 private homes along with a range of apartments and a penthouse.
4 min
Accor partners with The Summary Executive Properties to launch the world’s first standalone Swissôtel-branded residences.
Located on Dubai Islands, Swissôtel Waterfront Residences at Dubai Islands is scheduled to open in 2027, featuring 105 private homes along with a range of apartments and a penthouse.
Catering to Dubai’s rising demand for standalone branded residences, Swissôtel Waterfront Residences will be strategically located in Nakheel’s upcoming master-planned development. Dubai Islands will offer stunning views of the Downtown Skyline and Port Rashid, just 25 minutes from Downtown Dubai. Construction on the residences will soon begin, with the project enjoying a prime position near the marina, which will serve as the main connection between the islands and the mainland, ensuring easy accessibility.
In attendance at the signing ceremony, Paul Stevens, Chief Operating Officer Premium, Midscale & Economy Division, Middle East & Africa for Accor, commented: “This landmark partnership underscores our commitment to meeting the growing demand for a premium residential community in Dubai and supporting it with a compelling brand offering and an elevated mix of services. Swissôtel Residences Dubai Islands will set a new standard in the market, providing residents with an unparalleled living experience that blends a premium product, convenience, and the very best in Swiss-infused hospitality experiences.”
Swissôtel Waterfront Residences at Dubai Islands will offer a range of layouts including one- to four-bedroom apartments, a four-bedroom penthouse, and three-to four-bedroom townhouses – all featuring unparalleled skyline views. Residents will enjoy an enviable array of facilities including a fitness center and spa, outdoor swimming pool and rooftop infinity swimming pool, alongside a stylish residents’ lounge, events room, kids club, games room, a cinema and wine room. The project will also include 445 square meters of retail space including a restaurant that will be open to residents and public alike, creating a thriving, buzzworthy community.
Regional Vice President Accor One Living, Head of Mixed-Use, Europe, Middle East, Africa and Turkiye for Accor, Daniel von Barloewen added: This is a remarkable time for residential development in Dubai, and we are proud to be at the forefront of this ever-expanding hospitality sector. Swissôtel Waterfront Residences at Dubai Islands will offer an exceptional array of amenities, catering to the distinct needs of our residents. With its prime location and the renowned Swissôtel brand leading the way, we are confident this project will set a new benchmark in residential living in the region and attract a discerning community of homeowners from within the UAE and around the globe”.
The project is being developed in partnership with The Summary Executive Properties, founded by entrepreneur and developer Dmitry Anatolyevich Kryuchkov. Known for its world-class residential and commercial projects and commitment to excellence, the Dubai-based real estate developer will capitalize on the project’s stunning marina-facing location to create a welcoming and lively space for residents.
Dmitry Anatolyevich Kryuchkov, Founder for THE SUMMARY EXECUTIVE PROPERTIES commented: “Our partnership with Accor reflects a shared vision of creating a residential community that embodies excellence in design, high-end living, and homeowner services. The Swissôtel Waterfront Residences at Dubai Islands will not only enhance the living experience for our residents but also contribute to the dynamic growth and development of Dubai Islands. We look forward to delivering a project that sets new standards and exceeds all expectations.”
Other projects announced by Nakheel for Dubai Islands include the development of a Rixos Hotel and Residences, private residential and commercial plots.
“The calibre of the project, with its marina, facilities, and design, fits with our premium portfolio of projects, and we look forward to bringing it to life,” added Kryuchkov.
Accor One Living’s Von Barloewen continued:” Dubai is a global hub, bringing people to work and play from across the world, and we are confident the ultra-prime location, extensive private facilities for residence owners, and elevated residential living experience made possible by Swissotel, combined with The Summary Executive Properties’ reputation for quality, will be very well received by homeowners.”
Swissôtel Waterfront Residences at Dubai Islands is the latest in Accor’s growing portfolio of branded residences, with the world leading hospitality group forecasting continued growth for developments in the premium market alongside its luxury, and lifestyle offerings. Accor’s Paul Stevens added at the signing: “Over the last two decades, we have seen the rise in luxury branded residences here in Dubai and elsewhere around the world; however, we are now witnessing a surge in popularity across the premium sector too, with some of our newest residential signings fulfilling a gap in the residential market.”
The Swissôtel Waterfront Residences at Dubai Islands project is supported by Accor One Living, Accor’s industry-first 360º platform focused on the development, design, and operation of mixed-use projects and branded homeowner communities. Accor One Living provides a turnkey set of solutions tailored to each market: bringing each brand to life through architecture and design, facilities and amenities, experiences and global recognition.
Looking more broadly at Accor’s residential offerings in the market, Swissôtel Waterfront Residences at Dubai Islands joins Ennismore’s SLS Dubai Residences and SO/ Uptown Dubai Residences. Over the next four years, Accor plans to open ten more branded residential projects, with six of them expected to be standalone residential communities.
Accor operates 282 hotels, resorts and residences across its unparalleled spectrum of brands in the Middle East, with 112 more in the pipeline, highlighting its commitment to growth and development. In the UAE alone, Accor manages 85 properties spanning 22 brands.
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Alexandre de Betak and his wife are focusing on their most personal project yet.
The super-lightweight GTS is engineered to delight drivers who demand the dynamic excellence and driving excitement of a McLaren
3 min
McLaren Dubai, the official Retail Partner of McLaren Automotive and the largest standalone McLaren dealership globally, has announced the delivery of the first McLaren GTS in Dubai. This model, which replaces the McLaren GT, is making its debut on Middle Eastern roads. The super-lightweight GTS is designed to thrill drivers who seek McLaren’s signature dynamic performance and driving excitement, while also offering the ride comfort, refinement, and ample luggage space ideal for everyday use and long journeys.
The first owner in the region to receive the GTS is UAE-based businessman and supercar enthusiast Mr. Sunil Meerasa, who took delivery of his car in the stunning Ventura Orange.
Thrilled to be the first in the Middle East to receive his brand-new McLaren, Mr. Sunil said, “To me, McLaren is a combination of performance, heritage, innovation and exclusivity, which is why I’m so happy to get the keys to my new McLaren. I chose the GTS for its performance, luxury interior features, and the sleek exterior design, and I love the bright and eye-catching Ventura Orange color, it really makes the car stand out on the road! As a luxury grand touring supercar, the GTS truly balances comfort and sportiness, and I really enjoy the driving experience.”
Aligned with the inherent practicality of the GTS is an interior designed to blend the car’s level of performance with a refined and luxurious space. It is a comfortable cabin for long distance journeys, while also providing a platform from which the driver can take full advantage of the car’s outstanding dynamic capabilities.
The power of the 4.0-litre twin-turbocharged V8 engine in the GTS has been elevated to 635PS at 7,500rpm, and at just 1,520kg the GTS is the lightest car in its class, with a segment best power-to-weight ratio of 418PS per-tone. A launch-control function is standard; when enabled, the GTS hits 0-100km/h (0-62mph) in only 3.2 seconds and 0-200km/h (0-124mph) in just 8.9 seconds. The maximum speed of the GTS is 326km/h (203mph).
“It is an absolute pleasure to deliver the McLaren GTS to a customer for the first time in the Middle East. This stunning supercar offers an unmatched blend of McLaren driving dynamics and performance, with refinement and practicality. Whether you want a true supercar driving experience, or to relax on a longer journey, the GTS can deliver on all fronts. This is a car that is true to McLaren’s racing DNA, whilst offering practicality for everyday use.” Mazen Al Nashar, General Manager at McLaren Dubai.
With deliveries to the Middle East now underway, customers can contact their nearest McLaren dealership for more information on McLaren’s new grand touring supercar.
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Sydney’s prestige market is looking up, here’s three of the best on the market right now.
With an impressive 99% of respondents feeling secure.
2 min
Gallup’s latest global safety report reveals that people worldwide feel more secure today than they did a decade ago, though many nations still face challenges in building the “peaceful societies” essential for sustainable development.
In 2023, 70% of adults globally said they felt safe walking alone at night in their local areas, a significant increase from a decade ago and most of Gallup’s nearly 20-year history. However, this progress has stalled in recent years, with slightly fewer people feeling safe now compared to 2020, when a record 72% reported feeling secure.
At least seven in ten individuals feel safe in regions like Asia-Pacific, Western Europe, the Middle East and North Africa, Northern America (U.S. and Canada), and post-Soviet Eurasia. Post-Soviet Eurasia has shown remarkable improvement, with 71% of people feeling safe in 2023, almost double the 37% who felt safe in 2006.
On the other hand, safety perceptions are lowest in sub-Saharan Africa (51%) and Latin America and the Caribbean (47%). Sub-Saharan Africa has experienced the most significant decline in safety perceptions over the past two decades, while in Latin America and the Caribbean, the proportion of people who feel safe has consistently remained below 50%.
Gallup’ survey ranks Kuwait as the safest country in the world for 2024 in terms of people walking alone at night, with an impressive 99% of respondents feeling secure. Singapore ranks second at 94%, followed by Norway and Saudi Arabia, both at 92%.
Kuwait also leads the Law-and-Order Index, scoring 98 out of 100, solidifying its position as one of the world’s safest countries since 2019. Additionally, the insurance firm Hellosafe has developed a “Travel Safety Index” that rates countries on a scale from 0 to 100, where 0 signifies the safest. The index evaluates 35 factors, including natural disasters, societal violence, armed conflict, and healthcare infrastructure.
According to the index, Europe stands out as the safest continent for travelers, with 30 of the 50 safest countries located there. Iceland ranks as the world’s safest nation with a score of 18.23, followed by Singapore (19.99) and Denmark (20.05). Twelve of the 15 safest countries are European, including Switzerland, which ranks fifth. Bhutan leads in the top 15 with 22.98 points, while Qatar ranks 11th with 23.33 points.
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Under the agreements, Jameel Motors (International) will distribute Geely Farizon New Energy Commercial Vehicles across 11 countries
< 1 min
Jameel Motors (International), a leading provider of mobility solutions and a preferred partner of top automotive brands, has announced a significant international collaboration with Zhejiang Geely Farizon New Energy Commercial Vehicle Group (Farizon Auto), a wholly-owned subsidiary of Geely Holding Group and a leader in China’s new energy commercial vehicle market. This partnership, established through a series of global distribution agreements, aims to advance the transformation of the mobility sector on an international level.
As part of the agreement, Jameel Motors (International) will focus on distributing innovative brands under the Geely Farizon New Energy Commercial Vehicle Group, which includes electric, hybrid, hydrogen, and methanol-powered vehicles. Farizon Auto is China’s first commercial vehicle brand to offer a comprehensive range of new energy products, including heavy trucks, light trucks, micro trucks, light commercial vehicles (LCVs), and buses.
The agreements will see Farizon’s vehicles distributed in new and select markets, which have a combined population of over 450 million approximately.
The agreements highlight Jameel Motors’ (International) unwavering commitment to its technology-agnostic strategy, driving both expansion and diversification of its product portfolio to meet evolving customer demand across key global markets, while accelerating the business’s international growth trajectory. This includes meeting the growing demand for greener New Energy Vehicles (NEV), such as hydrogen, methanol, and electric. This landmark collaboration with Farizon places Jameel Motors (International) firmly at the forefront of NEV mobility solutions.
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Self-tracking has moved beyond professional athletes and data geeks.
