Former millionaire Mohammed Abdelrazak has been living in this trailer with his wife and six children for months after being evicted from their home. Reem Mohammed / The National
Former millionaire Mohammed Abdelrazak has been living in this trailer with his wife and six children for months after being evicted from their home. Reem Mohammed / The National

UAE Helping Hands: Homeless family seek help



DUBAI // From living in spacious villas to a pair of cramped tents, two brothers who have fallen on hard times are appealing for help.

The unemployed Bahrainis, former self-made millionaires and both on the run from authorities, have no permanent roof over their heads and cannot feed themselves or their families.

Adding to their worries, both families are forced to sleep in vans, on weekdays, due to their unorthodox living arrangements.

“You need a permit to camp in the desert,” says 39-year-old Mohammed Abdelrazak, whose family, along with that of his elder brother Fuad, has been living rough for the past week.

“They [police] usually don’t check on weekends or during the day, so we stay in the desert on the weekends or just for short periods of time.”

With Mohammed are his wife and their six children, ranging from ages three to 16. All have spent the last week in fear of their mobile home being impounded because of legal issues.

The brothers, who were born and raised in the emirate, say things went downhill for them in the economic crisis of 2012.

“It all started going down,” says Fuad, who had owned several businesses. “There was no demand, no one was buying. I couldn’t cover costs, couldn’t pay my employees. At one point, I had 12 employees file a case against me on the same day at the Ministry of Labour.”

The brothers now have warrants out for their arrests, over unpaid debts.

However, despite wanting to clear their names, neither has been able to secure work.

“I know that a job might not help me pay off such a large debt but life goes on,” says Fuad, who owes Dh5 million in loans, rent and for two court cases.

“I cannot just sit and do nothing. I have to do my best.”

Despite Fuad’s debt, the financial issues claimed their first victim in Mohammed, who was forced to move his family into his brother’s home after he was unable to cover rent.

Several days later, both families were out on the street.

“We are now both homeless and have nowhere to go,” says 44-year-old Fuad, a father of four.

In an attempt to recoup some of their losses, the brothers took to selling their possessions.

Last week, their last piece of furniture went to a new home.

“Our wives sold their jewellery and our children sold all their clothes and toys,” Fuad says.

The situation has hit the children the most, the brothers say.

Although their Emirati passports grant them education at public schools and health care, the benefits ends there.

“Thankfully the school gives them free lunch,” Mohammed says.

To get by, the families receive food from local charities.

Although they are supported in this regard, Umm Gaith, Mohammed’s wife, says it has been a hard reality to accept.

“The charities give us legumes and rice. We are grateful but because the children are young they don’t understand why this is the only option they have,” she says.

“Once we had everything. We had food, a house and we could afford to get them what they wanted.”

For Fuad’s family the reality of their situation has had a ripple effect in being unable to send his children to university.

“I’ve applied for a job for him [the eldest]. Before I was sure that my son would be a doctor or an engineer,” he says.

“Now it’s an impossible dream.”

But the younger members of the families still hold strong dreams of better lives, despite their situation.

At the weekends, when they are consigned to their tents, the children run out and look to the sky when the rain falls, says Umm Abdulla, Fuad’s wife.

“They tell me, ‘Mama, mama. We prayed that God gives dad money and that we have a house again. It is raining. He will answer our prayers’.”

Now it has come down to the community to lend their support, says Hisham Al Zahrani, manager of social services at Dar Al Ber Society.

“These men deserve a second chance for their families. They are homeless and desperate. We hope that the community can reach out to help them.”

salnuwais@thenational.ae

Europe’s rearming plan
  • Suspend strict budget rules to allow member countries to step up defence spending
  • Create new "instrument" providing €150 billion of loans to member countries for defence investment
  • Use the existing EU budget to direct more funds towards defence-related investment
  • Engage the bloc's European Investment Bank to drop limits on lending to defence firms
  • Create a savings and investments union to help companies access capital
Our legal consultants

Name: Hassan Mohsen Elhais

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

The specs: 2018 Opel Mokka X

Price, as tested: Dh84,000

Engine: 1.4L, four-cylinder turbo

Transmission: Six-speed auto

Power: 142hp at 4,900rpm

Torque: 200Nm at 1,850rpm

Fuel economy, combined: 6.5L / 100km

Banned items
Dubai Police has also issued a list of banned items at the ground on Sunday. These include:
  • Drones
  • Animals
  • Fireworks/ flares
  • Radios or power banks
  • Laser pointers
  • Glass
  • Selfie sticks/ umbrellas
  • Sharp objects
  • Political flags or banners
  • Bikes, skateboards or scooters
THE BIO

Favourite author - Paulo Coelho 

Favourite holiday destination - Cuba 

New York Times or Jordan Times? NYT is a school and JT was my practice field

Role model - My Grandfather 

Dream interviewee - Che Guevara

A State of Passion

Directors: Carol Mansour and Muna Khalidi

Stars: Dr Ghassan Abu-Sittah

Rating: 4/5

Try out the test yourself

Q1 Suppose you had $100 in a savings account and the interest rate was 2 per cent per year. After five years, how much do you think you would have in the account if you left the money to grow?
a) More than $102
b) Exactly $102
c) Less than $102
d) Do not know
e) Refuse to answer

Q2 Imagine that the interest rate on your savings account was 1 per cent per year and inflation was 2 per cent per year. After one year, how much would you be able to buy with the money in this account?
a) More than today
b) Exactly the same as today
c) Less than today
d) Do not know
e) Refuse to answer

Q4 Do you think that the following statement is true or false? “Buying a single company stock usually provides a safer return than a stock mutual fund.”
a) True
b) False
d) Do not know
e) Refuse to answer

The “Big Three” financial literacy questions were created by Professors Annamaria Lusardi of the George Washington School of Business and Olivia Mitchell, of the Wharton School of the University of Pennsylvania. 

Answers: Q1 More than $102 (compound interest). Q2 Less than today (inflation). Q3 False (diversification).

The specs

Engine: 6.2-litre V8

Power: 502hp at 7,600rpm

Torque: 637Nm at 5,150rpm

Transmission: 8-speed dual-clutch auto

Price: from Dh317,671

On sale: now

If you go

The flights
Emirates (www.emirates.com) and Etihad (www.etihad.com) both fly direct to Bengaluru, with return fares from Dh 1240. From Bengaluru airport, Coorg is a five-hour drive by car.

The hotels
The Tamara (www.thetamara.com) is located inside a working coffee plantation and offers individual villas with sprawling views of the hills (tariff from Dh1,300, including taxes and breakfast).

When to go
Coorg is an all-year destination, with the peak season for travel extending from the cooler months between October and March.

Jordan cabinet changes

In

  • Raed Mozafar Abu Al Saoud, Minister of Water and Irrigation
  • Dr Bassam Samir Al Talhouni, Minister of Justice
  • Majd Mohamed Shoueikeh, State Minister of Development of Foundation Performance
  • Azmi Mahmud Mohafaza, Minister of Education and Minister of Higher Education and Scientific Research
  • Falah Abdalla Al Ammoush, Minister of Public Works and Housing
  • Basma Moussa Ishakat, Minister of Social Development
  • Dr Ghazi Monawar Al Zein, Minister of Health
  • Ibrahim Sobhi Alshahahede, Minister of Agriculture and Minister of Environment
  • Dr Mohamed Suleiman Aburamman, Minister of Culture and Minister of Youth

Out

  • Dr Adel Issa Al Tawissi, Minister of High Education and Scientific Research
  • Hala Noaman “Basiso Lattouf”, Minister of Social Development
  • Dr Mahmud Yassin Al Sheyab, Minister of Health
  • Yahya Moussa Kasbi, Minister of Public Works and Housing
  • Nayef Hamidi Al Fayez, Minister of Environment
  • Majd Mohamed Shoueika, Minister of Public Sector Development
  • Khalid Moussa Al Huneifat, Minister of Agriculture
  • Dr Awad Abu Jarad Al Mushakiba, Minister of Justice
  • Mounir Moussa Ouwais, Minister of Water and Agriculture
  • Dr Azmi Mahmud Mohafaza, Minister of Education
  • Mokarram Mustafa Al Kaysi, Minister of Youth
  • Basma Mohamed Al Nousour, Minister of Culture
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
Four motivational quotes from Alicia's Dubai talk

“The only thing we need is to know that we have faith. Faith and hope in our own dreams. The belief that, when we keep going we’re going to find our way. That’s all we got.”

“Sometimes we try so hard to keep things inside. We try so hard to pretend it’s not really bothering us. In some ways, that hurts us more. You don’t realise how dishonest you are with yourself sometimes, but I realised that if I spoke it, I could let it go.”

“One good thing is to know you’re not the only one going through it. You’re not the only one trying to find your way, trying to find yourself, trying to find amazing energy, trying to find a light. Show all of yourself. Show every nuance. All of your magic. All of your colours. Be true to that. You can be unafraid.”

“It’s time to stop holding back. It’s time to do it on your terms. It’s time to shine in the most unbelievable way. It’s time to let go of negativity and find your tribe, find those people that lift you up, because everybody else is just in your way.”

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.”