Anonymous online Art of conversation Wealth management Cryogenics HATEM DOWIDAR UAE AED 15 KSA SAR 15 BAHRAIN BHD 1.500 OMAN OMR 1.500 KUWAIT KWD 1.200 QATAR QAR 15 Inclusive of VAT An ITP Media Group Publication UAE AED 15 KSA SAR 15 BAHRAIN BHD 1.500 OMAN OMR 1.500 KUWAIT KWD 1.200 QATAR QAR 15 Inclusive of VAT An ITP Media Group Publication ABE_2511_01_Front Cover_13377458.indd 130/09/2024 13:41ANTARCTIC OCEAN Only available in selected Swatch Storesarabianbusiness.com 3 30 Contents October 2024 CONNECTED Meet Hatem Dowidar, the man riding the global tech wave and guiding e&’s aggressive expansion COVER STORY PROPERTY Sustainable luxury Arabian Business takes a look at several of the projects in Riga that have made R·Evolution one of Latvia’s most famous – and unique – developers CRYOGENICS Quest for immortality As cryogenics garners attention, wealthy figures are hedging their bets on future technology to conquer death, despite doubts from the scientific community SOCIAL MEDIA In focus: Noor Naim Find out how Noor Naim became the top Arab female YouTuber with 60 million followers, and is now on track to become the region’s first social media billionaire 74 4224 ABE_2511_03_Contents_13377454.indd 327/09/2024 17:134 Vol. 25/11, October 2024 SUBSCRIBE NO W www.itp.com/subscriptions +971 4 4443000 EXPERT VIEWS EXCLUSIVE INTERVIEWS INDEPTH NEWS PUBLISHED BY AND © 2024 ITP MEDIA GROUP FZ-LLC. 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PO Box 500024, Dubai, UAE Tel: +971 4 444 3000 Off ices in KSA, UAE, UK, US, and INDIA ITP MEDIA GROUP CEO Ali Akawi MANAGING DIRECTOR Marne Schwartz MANAGING DIRECTOR Anil Bhoyrul EDITORIAL EDITOR-IN-CHIEF Rob Corder, rob.corder@itp.com EDITORIAL DIRECTOR Matthew Amlot, + 971 4 444 3264, matthew.amlot@itp.com HEAD OF CONTENT Kate-Lynne Wolmarans, +971 4 444 3541, kate.wolmarans@itp.com SUB EDITOR Edward Liamzon, +971 4 444 3474, edward.liamzon@itp.com ARABIANBUSINESS.COM EDITOR AT LARGE Will Milner DESIGN SENIOR DESIGN MANAGER Geri Batara Sonny ART DIRECTOR Mohammed Irqsosy PRODUCTION PRODUCTION MANAGER Gijo Thomas SENIOR IMAGE EDITOR Emmalyn Robles EVENTS & MARKETING SENIOR MARKETING AND EVENTS MANAGER Anthony Chandran, +971 4 444 3685, anthony.chandran@itp.com DISTRIBUTION HEAD OF DISTRIBUTION AND NEWSTRADE Abdulrahim Alparambil DISTRIBUTION COORDINATOR Avinash Pereira CIRCULATION EXECUTIVE Rajesh Pillai ADVERTISING GENERAL MANAGER Mirei Avdou, +971 4 444 3215, mirei.avdou@itp.com GROUP COMMERCIAL MANAGER Neha Sikri, +971 4 444 3353, neha.sikri@itp.com GROUP COMMERCIAL MANAGER Jad Karam, +971 4 444 3692, jad.karam@itp.com COMMERCIAL MANAGER Pallavi Choudhary +971 4 444 3359, pallavi.choudhary@itp.com ITP GROUP CEO Ali Akawi CFO Toby Jay Spencer-Davies CORPORATE WEBSITE itp.com CIRCULATION CUSTOMER SERVICE +971 4 444 3000 WEB arabianbusiness.com ABE_2511_04_Flannel_13377463.indd 427/09/2024 17:31arabianbusiness.com 5 Column The Gulf’s energy hegemony isn’t going anywhere For decades, the Arabian Gulf has been the undisputed king of global energy, with its dominance in oil and natural gas markets shaping the world’s power dynamics. Now, as the energy transition gains momentum, critics are lining up to predict the region’s fall from grace. They say the shift to renewables will sideline the Gulf, leaving it scrambling to reinvent itself in a world where oil is no longer the main course. But those arguments fall flat. The Arabian Gulf is well-positioned to remain the world’s premier energy hub for years to come, with huge investments flowing into future energy technologies. These investments are already paying off. From 2019 to 2022, the UAE has succeeded in doubling its renewable energy capacity as part of the UAE Energy Strategy to triple the installed capacity by 2030. According to a report released by the Energy Industries Council, the Middle East is on course to take $75.63bn of investment in renewable energy projects through to 2030. While investments into renewable technology, like wind and solar, will continue to transform the energy makeup of the region, it is in hydrogen that the future potential for the Gulf as a hub can most clearly be seen. The region has immense potential to be a leader in the massive growth expected for the hydrogen industry. Gulf nations are pouring billions into ambitious projects that will help establish the region as a clean hydrogen production powerhouse. Last year, the NEOM Green Hydrogen Company announced that it had reached a total investment of $8.4bn to develop the largest green hydrogen production facilities in the world. The project will be the first company in the world to produce green hydrogen at scale once it becomes operational in 2026. The demand for hydrogen exports is expected to escalate dramatically in the coming years as countries work to decarbonise key industries and sectors. Many nations lack sufficient domestic renewable resources to produce large amounts of clean hydrogen locally and will need to import supplies from major exporting hubs – the global demand for hydrogen is expected to nearly double by 2030 from 2021 levels. The Middle East is poised to capture a large share of this expanding global hydrogen export market. With abundant solar and wind resources as well as experience in energy industries, coun- tries like Saudi Arabia and the UAE have a natu- ral advantage in large-scale clean hydrogen production for export. By establishing themselves as leading global hydrogen suppliers, Middle Eastern nations can leverage this cleaner fuel source to remain domi- nant players in global energy flows even as reli- ance on oil and gas declines. Rising international demand will f avour major expor ter s with low-cost production like those in the sunny, windy regions of the Middle East. The potential hydrogen economy offers a multi-decade runway to diversify these economies. The future clearly remains bright for the region at the centre of the world’s energy needs. ABE_2511_05_Editorial column_13377464.indd 527/09/2024 17:35SANKARIPLACE.COM TRANSCEND THE ORDINARY DEFINE YOUR LEGACY 600 50 80 80EMBODY t he EX TR A ORDINARYOCTOBER 24-26, DIFC DUBAI TOURISM-G&M.indd 424/09/2024 13:54Join us for a weekend of great taste VISIT GAULTMILLAUAE.COM TODAY FOR FULL DETAILS GRÉGOIRE BERGER HIMANSHU SAINI HISAO UEDA KELVIN CHEUNG MOHAMAD, OMAR & WASSIM ORFALI REIF OTHMAN ROBERTO TORRE RUBEN GUERRERO SAVERIO SBARAGLI TAKASHI NAMEKATA TOM ALLEN LIVE KITCHENS LIVE BEVERAGE PAIRING LIVE JAZZ DUBAI TOURISM-G&M.indd 524/09/2024 13:54Next >