The Lykan will include the world's first hologram display. Courtesy of W Motors
The Lykan will include the world's first hologram display. Courtesy of W Motors

How the Lykan Hypersport is the last word in luxury



The question on most people's lips at the recent Qatar Motor Show was: "How Arabic is the Arab world's first hypercar?"

Considering that the bodywork, chassis and engine of the W Motors Lykan Hypersport are all produced in Germany and assembled in Italy, it might seem that the Lebanon-based company is overstretching the regional credentials.

However, there is no doubt that the Lykan Hypersport is Arabic in spirit, if not entirely in body. Priced at an eye-watering Dh12.48 million, it is expensive enough to show the world you are a person of means. With only seven being built, it definitely has the exclusivity so desperately craved by the GCC's wealthy and, with headlights encrusted with diamonds, sapphires, emeralds and rubies, as well as solid gold wire stitching in the upholstery, it will undoubtedly cater to certain regional tastes. The company even claims it will choose the seven worthy owners of its flagship car - quite a bold move for a first foray into the reasonably saturated super sports car market.

Bold, it seems, is very much the watchword, particularly with its performance claims. W Motors says that the carbon composite Lykan, which has definite Lamborghini, McLaren and Koenigsegg styling cues, can deliver 750hp from a twin-turbo, flat-six engine, built by RUF Automobile in Germany. It boasts a zero-to-100kph sprint time of 2.8 seconds and a top speed of 385kph. According to company management, these are tried and tested statistics, even though the unit on show was still just a static model.

Perhaps the most Arabic characteristic of the Lykan, though, is the company's belief that anything is possible if you are willing to make the investment. Clearly, there is no way that W Motors is making its six years' worth of R&D money back on just seven cars, even at such an eye-watering price. In fact, the company's CEO, Ralph Debbas, admits that, if it were only a short-term project, the company would be making a staggering loss on each car. However, like many leaders in the region, he has a vision.

"It is a ten-year programme," he says. "We are already working on the successor to the Lykan Hypersport, a car that will be announced in November this year at the Dubai Motor Show - the Supersport edition, which will be cheaper and will have a production run of 25-30 units worldwide.

"After that we plan a new model each year after," he adds. "Then we will have one-off editions, so we can tweak it and design it for clients who want a car that is totally unique to them."

It doesn't stop there, either. Debbas is looking to establish research and design centres in Dubai, Abu Dhabi and Qatar, all within a year, in order to create the first Middle Eastern hub for automotive technology.

"W Motors isn't just building cars. We are developing new technologies as well, like the hologram integrated inside the Lykan. We are the only ones in the world with this technology, so these are the many things we are trying to promote through this first vehicle."

Ah yes, the hologram. While extensive details weren't available, the console of the Lykan will include the automotive world's first holographic display system with interactive motion, developed in conjunction with ID4Motion. Essentially, this means that, with simple hand gestures, the driver can control the multimedia interface and certain vehicle control systems. As if motorists in the region need any further distractions when they are driving.

That aside, Debbas's intentions are noble and his bold vision admirable, but it all rests on the company delivering on time. If W Motors pulls it off and meets its October deadline for delivery of the car, and fulfils its promise of putting one on the track at Yas Marina, then the world may be convinced that this is a lasting venture. Otherwise, the Lykan could be a very costly venture indeed.

motoring@thenational.ae

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 specs
 
Engine: 3.0-litre six-cylinder turbo
Power: 398hp from 5,250rpm
Torque: 580Nm at 1,900-4,800rpm
Transmission: Eight-speed auto
Fuel economy, combined: 6.5L/100km
On sale: December
Price: From Dh330,000 (estimate)
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Name: HyperSpace
 
Started: 2020
 
Founders: Alexander Heller, Rama Allen and Desi Gonzalez
 
Based: Dubai, UAE
 
Sector: Entertainment 
 
Number of staff: 210 
 
Investment raised: $75 million from investors including Galaxy Interactive, Riyadh Season, Sega Ventures and Apis Venture Partners
 
 
 
 
 
 
 
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Name: ARDH Collective
Based: Dubai
Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
Sector: Sustainability
Total funding: Self funded
Number of employees: 4
TRAP

Starring: Josh Hartnett, Saleka Shyamalan, Ariel Donaghue

Director: M Night Shyamalan

Rating: 3/5

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Best Academy: Ajax and Benfica

Best Agent: Jorge Mendes

Best Club : Liverpool   

 Best Coach: Jurgen Klopp (Liverpool)  

 Best Goalkeeper: Alisson Becker

 Best Men’s Player: Cristiano Ronaldo

 Best Partnership of the Year Award by SportBusiness: Manchester City and SAP

 Best Referee: Stephanie Frappart

Best Revelation Player: Joao Felix (Atletico Madrid and Portugal)

Best Sporting Director: Andrea Berta (Atletico Madrid)

Best Women's Player:  Lucy Bronze

Best Young Arab Player: Achraf Hakimi

 Kooora – Best Arab Club: Al Hilal (Saudi Arabia)

 Kooora – Best Arab Player: Abderrazak Hamdallah (Al-Nassr FC, Saudi Arabia)

 Player Career Award: Miralem Pjanic and Ryan Giggs

Five expert hiking tips
    Always check the weather forecast before setting off Make sure you have plenty of water Set off early to avoid sudden weather changes in the afternoon Wear appropriate clothing and footwear Take your litter home with you
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How to wear a kandura

Dos

  • Wear the right fabric for the right season and occasion 
  • Always ask for the dress code if you don’t know
  • Wear a white kandura, white ghutra / shemagh (headwear) and black shoes for work 
  • Wear 100 per cent cotton under the kandura as most fabrics are polyester

Don’ts 

  • Wear hamdania for work, always wear a ghutra and agal 
  • Buy a kandura only based on how it feels; ask questions about the fabric and understand what you are buying

Take Me Apart

Kelela

(Warp)

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EA Sports FC 25
The Penguin

Starring: Colin Farrell, Cristin Milioti, Rhenzy Feliz

Creator: Lauren LeFranc

Rating: 4/5


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