Expert Panel Discussion: Health & Wealth Protection in an Uncertain Cycle | CWS

Añadido: 2026-05-26

[00:00:00]Ladies and gentlemen, please welcome Katie Jensen.

[00:00:08]>> Thank you so much, Georgina. Very big thank you to our incredible panelists joining us on the stage and to each and every one of you. Thank you so much.

[00:00:18]Now, I can assure you we've got some great discussions happening today. So, I am going to ask everyone just to take a seat. If you do want to take a step forwards, come a little bit forwards on the table, you are more than welcome to.

[00:00:30]But I am going to ask everyone to take a seat so that we can get into our discussions today. Well, first up, I've got a question for the audience.

[00:00:40]Now, who's aware of what's happening in the GCC today? Who's been aware of the US Navy blockade we saw last night?

[00:00:48]We've seen trade routes interrupted. Uh we've seen oil prices whiplash. We've seen Brent crude up around $140 a barrel. We've seen jet fuel reach $200 as well. Ladies and gentlemen, we are living in a time of volatility. So, let me ask all of you given what we've seen here in the Gulf over the last 40 days or so, tell me who has actively reassessed their portfolio or structure today. Let's see a show of hands.

[00:01:19]Okay. So, I would say roughly maybe maybe around a third to a half of people in the last seven days have actively reassessed or reviewed their structure or portfolio. Now, with those hands remaining in the air, I want to understand who's actually made changes to that structure or that portfolio over the last seven days.

[00:01:40]Not very many of us. So clearly there is a gap and we're going to be exploring that gap between awareness and action today because ladies and gentlemen capital wealth protection is no longer just about ensuring a good return. Today it is about resilience about decision making under pressure and about structure as well. And I think increasingly that capital is not just about the capital but also about the people who are making the decisions under pressure behind that as well. So we're going to be looking at both sides of it today. Looking at how we position, protect and deploy our capital today.

[00:02:21]Now Muhammad, I'm going to start with you. Now you oversee around 3.8 billion dollar uh worth of asset allocation portfolio across a whole variety of sectors. AI infrastructure um and so much more given what we're seeing in the Gulf over the last 40 days or so. Tell me where are you moving capital away from today and where is it going instead?

[00:02:47]I will start with a context about the 41 days that were hard at the beginning and in the middle of time it was quite peaceful and at the end it's an opportunity door open to everyone. So the move was necessary. On the third day of March we thought about what's next where we are. So the most important point was to identify the situation. Is it a war zone or it is just a shock?

[00:03:25]Will the shock be continuous for long? Do we expect it to be impactful for long to a recession level?

[00:03:37]Would it be a pose? No one will sign a paper.

[00:03:42]No one will check his relationship to one bank and find that one bank relationship is not enough for the resilience.

[00:03:53]So the most important question what kind of assets we have under our management.

[00:03:59]Are are they only asset class looking for return? Is it a pure return for our assets that makes us feel safe or they are resilient to the expected repricing that we are expecting post during and post the current crisis?

[00:04:20]The repricing was this question.

[00:04:23]Repricing of energy disruption.

[00:04:26]Repricing of being focused on one shipping route very concentrated on what kind of zigzag solution that we might operate now. Are we in a piece of time relaxed unable to make the decisions fast? Are we able enough to look at our assets that we are managing that they are aggressive cash generation?

[00:04:51]How about liquidity?

[00:04:53]about assets that already able to be liquidated.

[00:04:58]So it was about the portfolio resilience, structure resilience. It was about understanding the next move and being prepared for. Are we prepared because we live under one tax system?

[00:05:13]Is it all about the one system that you are geographically linked to or you are part of an international ecosystem that you can move to ensure that your volatility can be controlled, can be managed and you move away from the traditional way of the one model. The traditional way of one model of asset management and wealth management is no longer the solution today.

[00:05:38]>> Okay. So, good advice, but I'm going to press you to be a little bit more specific because we want those practical strategies today. Um, resilience certainly a big question, sorry, a big term we've been talking a lot about this week, haven't we? But tell me specifically sectors or areas. What are you specifically moving away from right now and where are you focusing your attention instead? Obviously, diversification and resilience that I agree is key, but I want those specific examples too, please. So I I will reflect on our last week uh private high level discussion with the ministers uh following an invitation from his highness the president of the country to let us understand the current need and the current move which was the supply chain understanding the supply chain I will give one example about healthcare everyone understand that healthcare is one of the very promising sectors in the UE and worldwide well-being so what to invest in healthcare and pharmaceuticals today.

[00:06:36]Data tells us a lot about lots of medicine products that are needed. How about the raw materials? Are we able to manufacture additional to the current existing 10 products of those uh raw materials the products for the drugs?

[00:06:55]This makes the next 10 years a proper high demand on a specific sectors. Look inside every sector. It's no longer the same sector. Look inside each sector.

[00:07:09]Root it down. Understand the real demand. Today it's no longer a private sector demand. It's an international system that being rechanged, repriced and reallocating the capital again to let us understand from the inside.

[00:07:26]Healthcare is a wide sector. Logistics is a wide sector.

[00:07:30]Energy is a wide sector. Supporting chains to energy is a huge sector. and as well as uh assets that bring stability to the country. Steel, aluminium, manufacturing, trading, all of these sectors are needed. But the inside deep analysis of each sector to decide exactly the huge market gap. It's no longer the local market gap. The com the country has made it clear to the whole world. Resilience cannot be tested. Resilience is a preparedness. Resilience was not military.

[00:08:12]>> Okay. So, great advice there. I'm going to bookmark some of those as well.

[00:08:16]Healthcare, pharmaceuticals, energy, supply chains as well. Sanjay, let me bring you in here. Sorry, Dr. Sanjay, I should have called you. My apologies. I think you have such an interesting perspective. We've heard a little bit about where capital is moving, but that's only one side of the occasion.

[00:08:31]Now you are the CEO of a fifth generation family business. It was your great greatgrandfather I believe who established the business back in 1874 in Indonesia. You had a number of department stores. I think the Walmarts of Indonesia uh you referred to yourself as and it's been quite interesting because you've seen uh the collection of huge wealth across family offices during this time but you've also seen a number of them on the brink of collapse often due to disputes over internal structures. So tell me given what's going on at the moment geopolitical tensions a lot of focus on market volatility where is the real vulnerability today? Does it come from external shocks like what we're facing in this part of the world right now or is it the way that family officers are actually structured and making decisions under pressure?

[00:09:23]>> So let me start with something very important. On the 1st of March I got a call from all my friends that know me about being the ambassador of promoting Dubai as a place to invest. And they called me and they gave me a little bit of a sarcastic comment. They said, "Say, are you still in the safest city in the world?"

[00:09:45]Because we went from being the safest city in the world to potentially a war zone. And the conversation was, "Do you still feel safe?" And there is something that I want to publicly announce.

[00:09:58]Absolutely. We are still in the safest city in the world. And it's not it's not because we are not in a war zone. It's because of our leadership.

[00:10:13]Our leadership came out. No press conferences. Our leadership came out, walked amongst us. They were not hiding in bunkers. Because when you think about a war zone, the first step is leadership goes into bunkers, has press conferences, tries to calm down the nerves. We didn't have any of that. We had our leadership walk among us. They said, "It's still going to stay normal.

[00:10:38]We're not going to have disruption of water, no disruption of food, no disruption of electricity, no disruption of resources. We will not allow unedited inflation.

[00:10:49]They allowed us to live with dignity and not be worried about food, basic needs that would keep us dignified." And when people say, "How do you respond to that guys?" The only time when a country is tested for its safety is in situations like this. How do you know a place is safe till they've never been tested?

[00:11:10]Today, UAE has proof that we are going to be the safest city in the world, the safest country in the world because of our leadership. So before I get to answering that one question, I want to say thank you. Thank you to the leadership of this country because of what they have done and given to us.

[00:11:31]Coming back to a family office, I think one of the biggest challenges that we have in the family office is when you are a fifth generation family office, you are inheriting wealth. You're inheriting systems. You're inheriting strategies that might not live up to your value systems. You're going to challenge.

[00:11:50]You're going to have disputes. And as the family grows bigger, I want to make one thing very clear. 150 years that we have existed as a family office, we have divided seven times.

[00:12:03]Seven times our division. And I can promise you, we have lost money every time we divide.

[00:12:10]And I'm going to give one thing very important to you. Please don't divide.

[00:12:15]Communicate among each other. You will fight. There's no doubt on that. But it's about understanding what each of you brings to the table. First of all, please don't treat all your children equal. It's the worst thing you can do is try and make your children feel equal. They are not. Every child has a different talent. Every child brings something different to the table.

[00:12:38]Recognize that. So, we have there are two words I'm going to give you today.

[00:12:43]Inheritance and succession.

[00:12:46]A lot of people confuse the two words.

[00:12:48]Inheritance is the transfer of wealth.

[00:12:51]Succession is the transfer of power.

[00:12:55]Just because you inherit doesn't mean you're a successor. And just because you're a successor does not mean you inherit. There are two different job roles. In our family office, we have a very clear guidance. There is no inheritance going forward. Because inheritance come with entitlement.

[00:13:11]Succession comes with a system. So we now have successors to job roles. We have committees inside the family office that makes those decisions. For example, one of the biggest mistakes that I see when we have when I work with family offices. I'm currently on the board of 57 different family offices across the world. We're managing just over $50 billion in assets under those family offices. And there's one thing that I realized. The office comes before the family. We are all glorified asset managers.

[00:13:44]And that's the mistake. The word family is forgotten. So if we are looking at money, the first concept of money is what does it do for the family? Does it create opportunity? Does it create liabilities? What is that money doing for the family? Do you do your children feel guilty about being rich?

[00:14:08]Because that's the other thing that we've seen in families, children feeling guilty about being rich.

[00:14:14]Now, it doesn't happen everywhere, but it does happen in our family. I'm going to share something, a secret. We inherit nothing. But we, every child in our family is born retired. How many of you wish you were born retired? Let's be honest. Right now, in our family, you're actually born retired. From the age of 25, you get $3,000 every day for the rest of your life.

[00:14:37]Now, that's a good inheritance and a good retirement plan. But we have two family KPIs to receive that $3,000 every day. KPI number one, breakfast, lunch, dinner, never eat alone. You have to eat with someone. You have to eat with friend, family, doesn't matter, but you have to eat with someone. So that's the first KPI. Second KPI, you have to meet 10 people every day. If you meet nine, you don't get it. If you meet 11, you don't get extra, but you have to meet 10 people every day. Why do you think I'm on stage today? Thank you very much. I just got my I just got my $3,000 for the day. So that's our KPI. We have to meet 10 people a day. Now religiously among we are about 100 family members currently.

[00:15:25]My father and I, we are the only two in the family that do it seven days a week, but most of our family members do about three or four days in a week. Why is this important?

[00:15:35]My grandmother started this philosophy and she said, "Sjay, three things happen when you meet people. Number one, you either learn or you teach or you identify an opportunity you did not even know existed." So instead of just setting corporate KPIs, investment KPIs, start thinking about creating family KPIs. What should your family build as a discipline? What should your family build as a practice that will keep the family office going? And that is one of the most beautiful things about a family office. Family comes before office. You need to have the asset management strategy, but you need to have the family in consideration. So we have a cyber security committee in our committee. In our family office, for example, when we click pictures, we're not allowed to do this anymore because the cameras are so high definition. They can take your thumbrints. We're not allowed to do this. We've got special glasses made which protect us from iris scans. small security features that are going to be a problem for you in the future. You just saw what John did with Peter's clone. Nobody would guess Peter hasn't said that.

[00:16:43]We are living in that age of cyber security being a risk for family offices and as a family we need to discuss who's going to represent the family who's going to be the face of the family what's going to be the PR strategy for the family what's going to be the content strategy of the family what is the responsibility of the family well-being how many family officers have put well-being as a mandate that every family member has to exercise x number of days in a week we have now building a health committee in the family because we are all going to live long and the one thing that's going to be our biggest challenge is the cost of living long.

[00:17:23]Get ready for that.

[00:17:25]>> Well, I feel like that is a perfect way to bring Alex in here when we talk about wellbeing. Um because of course, Alex, you have helped create more than 20 luxury developments all over the world when it comes to real estate and you are investing heavily into regenerative or wellness real estate. Incredible project going on here in Dubai at the moment.

[00:17:46]Now, I think it's an interesting time to be in this space because there's certainly a lot of focus and attention on wellness as a whole. The market, I think, is growing about 15% when it comes to wellness real estate as a whole. But right now, you know, it feels like a lot of investors are potentially risk averse as well. Liquidity matters.

[00:18:04]I think investors are thinking more carefully about what kind of real estate they invest in today. So, in an environment like this, is capital still prioritizing lifestyle and well-being driven assets? Is it too early to see a shift in the market? Are investors starting to move back to more traditional types of real estate? What kind of messaging and feedback are you getting? because your latest project is going to be handed over in the fourth quarter of this year.

[00:18:36]The first what kind of value we want to deliver with our homes, our offices.

[00:18:42]Because for me, our shelter must create health, well-being, increase your efficiency, reduce not efficient time what you spend for what not create value in your life.

[00:18:57]And uh this what about the regenerative development? Because in regenerative development as always the buildings was the essence of the knowledge of civilization but in our regenerative development we absorb everything what we can use from ancient science like yoga aayurvea uh bashto shastra yeah so and mix it together with most advanced technologies in most sustainable construction in well-being in longevity when Your building itself became your healing instrument became your instrument which increase your wellbeing. Why I'm talking about it? Because this is the another class of values what you can receive from even from your office even from your home. Yeah. Because when the energy is balanced, when you have non-toxic materials, when you your water, your air is not only clean but activated when you like for inside the water when you create for example in a you have a drinking line 8 pH 200 microvolts uh the charge of the water same as inside our blood. We clean the memory of the water with the sound vibration. We harmonize the water with a special energy of love, gratitude, special frequencies of the sound can change the quality of water for you that when I implement this system in all of my offices, I receive extra two hours efficiency of my employees. How much it cost for any company? This is like about the values what you propose to give through the buildings. It's not anymore about square meters. It's not anymore about luxurious surface. It must be nice design by Filic design. Reconnect people with nature.

[00:20:59]Must be in now. But the main is how you feel inside.

[00:21:06]how your building can increase your efficiency with a clear mind thinking with your longevity and this is the one of the most like even important tools in longevity why we spend okay maybe in Europe we spend less we spend 70%. But in hot climates usually we spend in our offices at homes minimum 80% of our time and how we feel even in the morning it depends from what kind of technologies in our homes is and when you create this value of course it's create extra IR because the cost of it if you properly manage the cost 7% 8% it means if you cost for the construction 1,000 dirhams per square foot you spend extra 80 but really the the the the shows even I can in one project our target was 24% we finalized with 68 because people need it now now from and it was 2014 by the way now more and people more and more um people start thinking about that ah uh black mold under the ceilings destroy my life. Nobody expected because in my for example that in my family my daughter have very strong allergy to the black mold and we choose we change two places blue water island and Bulgary residence because of this issue because the developer must be as a magician as sages responsible for the future life of the residents and you need to prepare against them all from the first drawings. You need to think about it in advance.

[00:23:00]>> But but let me ask you because again black mold obviously huge issue.

[00:23:04]Longevity is becoming more important to all of us.

[00:23:07]>> One small part of the overall holistic ecosystem of as a as I nominate it as a platform of future life of future humans. But when we talk about love and gratitude being added to water, when we're in a riskier investment climate like we are today, are our family officers, our people in this room, are they are they really looking for something like that when it comes at a premium? Are they looking for the more traditional types of real estate in this part of the world that we know tend to do well? Or are they willing to pay that extra for the love and gratitude being added to the water?

[00:23:43]>> It's not about only love and gratitude.

[00:23:45]It's about value. what you propose to the people. So when you are like when you understand that your employees with with even you rent you pay for example€2 more uh so now under construction two office buildings with the same principles in Barcelona each euro in evaluation of the building each year extra one euro of of rent create extra 8 million of evaluation with the yield of this building because yield for traditional is 5.4 we now we're talking about 4.4 yield 20% higher it means I can re so and my investment all together in everything what connected with well-being with longevity with sustainability 8%.

[00:24:40]So it's like if you again if you proper manage it yeah and it's really so that you spend for example all together extra in this building 3 million around I receive I think we will rent like that now we are talking that three euro higher 24 against three this is like if you evaluate the efficiency of investment of this typology of the buildings you spend one exactly if you evaluate the the the what you spend and how it's increase uh the possible price of resale and even the values what you create for the people who wants to live in these apartments who wants to work in these offices you cannot so that how much cost extra two hours efficiency of your employees at work how much cost your health and well-being >> exactly and I think >> like the the the yes of course you can you can after second after third year if you Understand that only what what what change in the life of your company is relocation to the healthy sustainable well-being and longevity focused buildings.

[00:26:01]>> Absolutely. And it builds on what Dr. Sanjay was saying earlier about the family office structure now having breakfast with people talking to 10 people a day ensuring we're exercising as well. So it's clearly becoming a bigger priority for all of us. But uh Nadia, let me bring in you here because we're talking a little bit about where to place our capital today. But the reality is it can still be exposed if the structure behind it isn't right. Now you have worked in private wealth.

[00:26:28]You've consulted with worked with the royal family here. You were actually one of the individuals tasked with creating the federal tax authority here in the UAE. You've worked with a lot of high netw worth individuals. You've worked with the Ministry of Finance as well. So I think it's interesting because you've seen both sides of the story from how wealth is structured and managed but also how it's assessed and audited. Now you say around 60 to 70% of companies in the UAE are not fully compliant. They don't actually realize that they're not compliant often without realizing it. We are seeing audit activity increase significantly. So, if we stress tested this room today, where are people in this room most exposed right now without even knowing it? And Katie and Miss Natty, I'm so sorry to interrupt the session for a few seconds. I've just been told there's quite a lot of noise at the back. Ladies and gentlemen, if we could just sit down and keep the noise down for literally a few more minutes.

[00:27:27]We've got an incredible panel discussion to finish off today. So, keep the noise down at the back. Thank you very, very much, ladies and gentlemen. Sorry once again, Katie and the panelist. Thank you.

[00:27:36]>> Thank you.

[00:27:44]>> So yes, an interesting statistic is that most of the people, let's say, companies established here in BOE or that have any tax liability here in at all don't realize that they're not compliant.

[00:27:58]So most companies assume that we've been filing our taxes on time. Um everything's fine. Nobody you think so it's fine we're good to go but actually in the contrary it's that eventually you will be audited and my firm has been established now for over seven years um first Emirati owned and established firm first uh tax agency that was accredited by the federal tax authority in Abu Dhabi and now we consult in eight different doiciles so not only are people not compliant here in the UAE and it's not by intention it is by a lack of knowledge or entrusting the wrong people and actually not knowing their business operations and their obligations. Now, a very common thing um that we see in the UAE is companies having dual nationalities. So, the company themselves as well. Now, a lot of people say that um minimizing your taxes is just avoiding taxes or uh you know evasion, but it's not. It's being smart.

[00:29:00]And when you have the right knowledge, you have the right partners, you have someone who understands your business, you can do things very well. Now, what we're actually seeing, um, my business is actually booming since the whole situation has happened because we deal with companies who have a lot of logistics. There's a lot of companies here that are established in the free zones. These free zones are now having obviously logistical issues. And at the end of the day, whether you're making money or losing money, tax matters. It hurts your pocket. We, everyone here in this room pays tax. Um, whether you like it or not, we are part of a global monetary system that feeds on tax. Um, everything you spend, everything you earn is tracked and taxation is at the core of the financial system, especially with, you know, UAE and the GCC as a whole becoming part of that system. So whether you're losing money today, that's going to affect your tax liabilities and what you can do with that as a concession in the future. So tax today matters. Whether you're making money, tax matters. We all know how much our parents sacrifice to get us educated, how much we've sacrificed, family time, social time, all of these things. We sacrifice so much to build the wealth, but you always skip out on protecting it. Now, tax compliance is an insurance, not only just an insurance, it is a riskmanagement strategy. You get to keep more of your money. So, if I could choose maybe five people, business owners. Um, can anyone raise their hand if they've actually been audited by the Federal Tax Authority in a room of over 300 people? I've seen about three hands.

[00:30:44]What if I can guarantee you within the next five years you're going to be audited and what you have done in the last 10 years will be relevant. Does that scare you?

[00:30:52]>> Yes. And I don't think I'm doing anything bad. Where are the biggest mistakes though? Where are the biggest gaps?

[00:30:58]>> Most um most non-compliance, I won't say mistakes. Um people where they lack awareness is that they are actually claiming back taxes that they're not legally or technically allowed to claim yet. and that um you're not paying your tax on time. Now, you think you are systemwise, but when it comes to recordeping requirements and actually tracking the correct application of when tax is payable and when tax is claimable, that is where most companies go wrong. Now, that is on an indirect tax level. Um what we've seen in the last 18 months on a corporate tax level is that a lot of companies especially companies who don't realize they're related to each other for those companies having multiple um related or sister companies. A lot of them are not applying transfer plies incorrectly.

[00:31:45]They're not doing the correct benchmarking. They're not doing the right arms length uh calculations. So many of you think you're fine until you go for a checkup. So, I always stress that before the FDA comes and knocks on your door, check yourself internally because a 5% penalty is much better than a 50% penalty. So, >> absolutely.

[00:32:07]>> Can I just add one line to that?

[00:32:09]>> Um, I remember my grandfather telling this to me when I was very young. Uh, and we were preparing our children to take on leadership roles in the family office. And I remember my grandfather telling this to me, Sanjay, when the tax man comes, the only thing they come to check is your files. They don't come to talk to you. They don't come to understand you. They come to see your files. Make sure your files are so good that they can come in, take your files and leave, and you can still sleep.

[00:32:38]Well, there is one reality of the world.

[00:32:41]Tax is going to be paid. The question is who pays it? you pay it or your children pay it or your grandchildren pay it, somebody will. It's the plan that keeps it going. And when it comes to family offices, that's one of the biggest challenges we're facing because a lot of family officers don't realize. We assume our children will live in the same country that we have created our wealth in. We assume our children will live in the same country we have created our wealth in. In reality, they will always go and live in the worst country where you're going to lose all your wealth. Inheritance tax in the UK, 40%, inheritance tax in the US, 40%.

[00:33:23]Inheritance tax in Japan, 55%.

[00:33:27]Inheritance tax in Korea, 80%.

[00:33:31]80.

[00:33:33]Family officers need to be concerned about where their children will live, not where their money is. because tax is based sometimes on residency, not on nationality. And I think that's something that is very important for us as investors to think about.

[00:33:50]I'm creating the wealth. I'm managing the wealth. I've put in all my wealth preservation strategies in place. But if I'm missing the structure, I will lose all that wealth to taxes. We actually did a survey over 150 years in our family office. Three reasons why we lost money. Number one, taxes.

[00:34:11]Number two, division.

[00:34:14]Number three, misunderstanding real estate.

[00:34:19]We lost money because we did not understand the concept of real estate.

[00:34:23]And I think that is becoming a big challenge that family offices don't spend time. First generation creates it.

[00:34:30]You all know the third generation syndrome, right? First generation creates it. Second one manages it. Third one, no. They divide it. They don't destroy it. I can give you acturial studies. I'm not a guy who believes in opinions. I believe in fact. And I can factually done I've done my PhD in this. And hence the doctor, please don't ask me for medical advice. I'll probably kill you.

[00:34:55]But in my PhD, the one thing that I did study was the behavior of money with families. And it's factual. The reason why we lose wealth is division of wealth, not distribution of wealth. So please remember, financial theory is incorrect. No one's changed it for the last 100 years because no one wants to challenge the status quo. I wrote a whole article on this yesterday. It's on my LinkedIn. You guys can read up on it.

[00:35:23]It's called the inheritance paradox.

[00:35:26]That's the name of the article, the inheritance paradox. We all talk about equal distribution and it's the worst strategy going forward. And coming back to taxes, that's exactly the point that Nadia was trying to make. Taxes are going to be paid. The question is who's going to pay it and when >> and how much. Um Natasha, let me bring in you here because you've been sitting there very patiently. We've been talking about capital, assets, structure, taxes as well. But I think you bring in quite an interesting perspective because Natasha is a fourtime founder in the wellness space. You might know her be uh because of health nag. I think you've got around $15 million in revenue across the UAE. And what I think is interesting is that you have a big belief that high-erforming investors and entrepreneurs are leaving money on the table because they're not optimizing their health, whether that comes down to stress, cognition, energy as well. So tell me in a room like this today where does that actually show up in practice and how does it affect the quality of the decisions that people are making today? Uh I actually would love to start with asking audience a question. Um I assume there will be a lot of hands in this particular room but how many of you actually have a wealth building strategy today? Can you raise your hand?

[00:36:50]Okay. And how many of do have a health preserving strategy.

[00:36:57]Oh wow. Okay, that's that's pretty equal actually. That's amazing. Um but normally this wouldn't be the case. So um what I see is that people would rather go for a wealth uh building consultant rather than a health coach.

[00:37:12]But investing into your biological machine pays you the most incredible return on investment because an optimized biological machine is full of energy. It's generating a lot of energy.

[00:37:26]When you're generating a lot of energy, you can generate a lot of wealth. You are much more productive. When your cognition level is very strong, you make more informed, calm, strategic decisions in comparison to an inflamed body, which absolutely on a physical level cannot produce a really calm um strong neurotransmitters. Meaning that you uh will be making decisions often fear-based or based on anger or based on impulses or based on emotions because again uh not optimized body uh will shut down or chronically stressed body will shut down prefrontal cortex and you will make your decisions from amydala which is definitely not the best place because it's an emotional brain. Uh I think um we started to take health more seriously after COVID. I've been 20 years in the health industry. That's been my obsession after I was diagnosed with like a lot of health issues that were supposed to be incurable. Uh I spent nearly 10 15 years studying all about anatomy, Chinese medicine, biology. I've done a lot of detoxes, fasting and all kinds of stuff. And I realized you can actually 90% of health issues or the way your body is today at is self-inflicted through a poor lifestyle. So uh we've realized after co that wealth is great but if you don't have health you have nothing. And uh now I just dedicate my life to literally health nag people hence the brand name. Uh I all I when people asking me what I do for a living I say I knack for a living and they usually laugh and I don't know why because that's actually the truth and um I just really enjoy that these days people started to take more seriously such an important thing you can biohack yourself into becoming smarter there are studies like this there are certain supplements you can take like lion's mane is just one of them where it it helps you to focus you whenever I have a serious task a monotonous maybe research based task. I will always um buy a hack and increase my focus through certain supplements or herbs that give us give us a quick example for people making big decisions in the room.

[00:39:42]>> Sourine is great. B vit B12 is really great. It's an instant energy.

[00:39:45]Obviously, you need your electrolytes because you cannot think clearly and you are more fatigued if you're cellularly dehydrated and 90% of people actually daily cellularly dehydrated. So, drink your electrolytes. Make sure you replenish especially in our region right which is often we are um we have a lot of exposure to the sun. Uh uh yeah so this would be the things and uh as a longevity person it's not about living longer. I like actually what you said the only disadvantage of living longer you need to build more wealth right uh but I love this uh strategy and I think it's not about of course living longer it's about living optimum optimally all the time. So you don't want to you don't want to be uh facing Alzheimer. You don't want to lose your head. Obviously this is one of your biggest asset that you actually need to invest in. What people don't realize is your brain. Um and uh it's about moving around freely.

[00:40:41]It's about now currently we don't die of natural causes. We used to say she died peacefully in her sleep. Is it ever the case these day? It's always either cancer, Alzheimer's or a heart disease.

[00:40:55]Heart disease. Why? because we're chronically stressed, we're walking around cortisol and it all shows in the face. So, um I just would love people to take health more seriously. Uh and not just taking one supplement and thinking they got this. There's so much more beyond that. And you literally need a health strategy. You need a consultant if this is something you don't understand. You need to look at specific set of actions how you're going to get there. And you need to have literally your targets. Your targets could be reversing your biological clock, reducing my cholesterol, it was one of the targets, right? Increasing my energy levels. These are the targets that are highly highly achievable just by simplest one, two months health strategy.

[00:41:38]So, health is wealth. I know you're a big believer in that and it's great to have that slightly different perspective. Um, and when we think about doing things differently, Muhammad, I want to bring you back in here. How should investors actually be thinking differently in this environment today?

[00:41:54]It's something Sanjay spoken about a little bit as well. The fact we really are on the cusp of a major reset moment for investors today. Big focus on resilience, not only growing the wealth, but actually being able to maintain it as well. Um, I loved that example you gave earlier, the private meetings with ministries. When we look at pharmaceuticals, the fact that here in the UAE, we only produce about 10 raw goods. Globally, it's about 260. So what does that mean for people sitting in the room today? How should they be thinking differently right now if they actually want to align with that shift and where their capital's going over say the next 5 to 10 years?

[00:42:30]>> Well, before I answer your question, I would like to make a follow on health and wealth. So I would like to ask you a question. Every one of us does regular health checkup.

[00:42:44]So do you do also regular wealth checkup?

[00:42:50]Yeah. Sometimes you get a diagnosis that makes you leave everything, sit quietly and think about what's next.

[00:42:59]That's a shock that happens to health.

[00:43:02]Another point is stress. That's the disease of this age of this time. Do you think that stress affects our health?

[00:43:13]Can you make it decision like can you think of it from one out of 10?

[00:43:20]Is it the most severe >> 10?

[00:43:23]Yes. How about wealth stress and capital stress?

[00:43:29]Is it really affecting our wealth well-being, our business well-being, our resilience capabilities?

[00:43:44]Cash flow. Yes. So cash flow is your oxygen. Am I correct? That's the oxygen that everyone must secure enough in his space.

[00:44:06]>> So in finance we studied something called asset accumulation. asset preservation, asset distribution. I'm sure all of you have heard that, right?

[00:44:14]>> Those are good muscles.

[00:44:15]>> They are actually the worst advice in the world. It is income accumulation, income preservation, income distribution. Write these down. Income is the only true asset. It is not the asset itself. Income accumulation, your entire lifestyle, the food, clothing, shelter, whatever you live, your lifestyle is based on one variable, which is income, not assets. Income preservation. If you have lost your income, that's when stress comes in.

[00:44:43]Your cash flow is your blood. It is your oxygen. It keeps you going. It's income preservation. You don't want to lose your income. And the third one is income distribution. I want you to think about it. What do you want to give your children? Assets or income. Think about it. It will change the way you do financial well-being.

[00:45:01]>> And here we think us hugely about the portfolio of assets.

[00:45:04]>> Absolutely. So because the traditional portfolio of assets I will try to follow the example like you know everyone knows like everyone today hears about calisthenics I'm not a good example for this I'm sure but calisthenics and some other yoga exercises some other flexibility moves makes you more healthy how about bodybuilding it is just a show of strength it expresses but the expression of stress. We call it in wealth and capital management that this is asset appreciation.

[00:45:41]The asset appreciation is not the question of resilience. Asset return is a question of resilience. An asset return that can be converted to liquidity is the optimum example of resilience and asset premium that can be fast moved to liquidity in hand. How far how close liquidity to you? Many of asset managers, fund relationship managers, they feel great when they have one or two banks they have great relationship with. in crisis. That's is the biggest mistake.

[00:46:25]If you in for family businesses, we have many families like the last FDI index has informed us that we are expecting $83 billion transformation within the next 20 years.

[00:46:42]But to whom they will transform?

[00:46:46]70% of family wealthies are being subject to be exposed outside family control.

[00:46:54]That's a big risk. Why? Because exactly what I can interpret what Sanjay said.

[00:47:01]Does the family live in a business or the business lives in the family? That's the biggest question.

[00:47:08]If the family lives in the business, that's a disaster.

[00:47:11]If the business lived in the family then the values will lead the story and the inheritance will not be just what we have earned in hand. The preservance every one of you definitely have dealt with loans right debt is part of business life. So do you think that the debt cost does it have a cost 100%. So today the cost of debt is it the same as today?

[00:47:44]Everyone started 2026 with a dream with a strategy right did you do a stress test?

[00:47:54]Yes. When the back to your question when the when the shock came us in the capital sector understood that we are well protected for years because we live in the safest country in the world we don't live in the safest country because we have the most organized most huge military system we just understood as Sanjay said we will not see the president in a press conference but we will see him amongst us. I will see him when I'm hugging my kids at night when there's a missile coming and I'm telling them feel okay because this country is well prepared because resilience is the result of risk management. Risk management is three levels preparedness, prevention, response. When you have the three, you have resilience. But when the test comes for how long you are resilient, that was a question that the minister of economy and the minister of industrial and industry and technology asked us. For how long we can be resilient with that economy 41 days everything was there. There was no rush to supermarkets or hypermarkets because everyone feel we have enough stocks.

[00:49:15]The hormones is the most closest to UAE.

[00:49:22]We are very near to the risk trigger 200 kilometers.

[00:49:28]So we are the most affected. No. Why?

[00:49:32]Because pivot.

[00:49:36]We pivoted.

[00:49:38]We have pivoted. There's alternatives.

[00:49:40]>> Yes. We we the the plan that was done years and years and years ago has been reviewed many times to get prepared for the future scenarios. Not for the future scenario of an expected neighboring country to move against the residents here in UE but the economy the economy has different kinds of risks that we need to be ready for. So back to the question again resilience is a result of being prepared review strategy being tested many times learning from the outputs and the impacts and learning the most important point the gross impact within and outside your capital system.

[00:50:40]Thank you. I was just saying I think the economy here has one of the strongest balance sheets in the world. Very low debt. Uh you know, incredible sovereign wealth fund as well. I think our growth rate is around 5%. That's roughly double many other countries in the world. We're seeing the UAE dedicate about 50% of its budget this year to infrastructure. So huge investments. There will be a shift.

[00:51:01]There will be some pivoting. You're absolutely right. Um I'm a journalist and I've been reporting on the crisis for the last 40 days or so. And I think in the midst of it, I came out one morning uh out of my villa and I realized I left my car unlocked and I went, "Oh well, it's Dubai. We're so safe here." And I thought, you know, isn't it interesting that that's my first thought? Even in the midst of missile and drone attacks, my assumption is I don't really need to lock the car overnight because we are so safe. Um, but I think real estate uh certainly has an interesting story to tell at the moment. There's been so much interest in the real estate boom here over the last couple of years. There's been an incredible contributor uh to the local economy. Alex, let me ask you, what kind of interest is there in the property market today? because we are seeing some investors step back, be a little bit more cautious. And yet last week we saw a record apartment sale in Jira 2 was about 420 million dirhams, the third most expensive apartment sold in Dubai's history. Clearly, there's still a lot of interest, but what feedback are you getting? Because you've actually just launched a relocation package for people who are going to be investing in Tree of Life. So, clearly you feel we're slowing down with momentum. What feedback are you getting?

[00:52:15]>> Thank you. By the way, the a tree of life just behind this windows you can see it. So it will be ready end of this year. And our the idea was with relocation program to to support both Dubai and uh our future residents because you know we understand that Dubai the most safest place in mana region 300%.

[00:52:49]And we propose that that to feel that aa love you and support you from your day one uh in this place. So that's we are help we are promised to help with everything from to find the apartment until the aa will be ready. So the to help in everything because so I relocate my family to Dubai 6 years ago and then so I remember how many questions. So how many solutions you need to find uh what we have now? And actually the the idea of favor was always like the mother loving mother but with uh the mother who knows everything in 360 degree ecosystem uh around what is the best for you, where the best for you, how we can support you that that that all families who decide to move to Dubai Okay. No, in this uh um let's say not ordinary situation uh that from the day one they feel love they feel uh attention to the what is most important uh we have in the life of our clients their families uh the health the so until they move in a in December. So we take responsibility for everything what they need and I think this is like yes is strong statement but we stands for Dubai and we stands for our future residents. Yeah, because that developers is uh must be magician and the sages at the same time and our task not ruin the life but make them flourish and this is one of the steps what we can propose now in this uh uh not ordinary situation what has happened around us uh and uh if you ask me about the investment I think now if you have cash good time to buy good time to buy the developers will be soft and nice. So that's yeah and uh uh uh we always support with uh our partners uh uh so we are listen uh proposals from uh the clients now and we close the deals even now and everybody happy.

[00:55:49]Yeah >> I just saying very well said. Um, we are almost out of time. So many other things we could still chat about up here. Um, our guests are going to be joining us um, for a little bit longer. If you do want to come and ask them a question, if you ask them nicely, they might join us for the lunch. Final thoughts today, Sanja, I'm going to start with you and move back this way. If there was one decision you would suggest our audience making over the next seven days to protect their capital, same question for everyone. What would it be?

[00:56:21]>> Over the next seven days, do nothing. Uh if I if I had to give you one piece of advice, believe in your philosophy, believe in your ethos. Uh don't make changes because of very short-term issues. U have a very long-term approach to life. You are going to live a very long life. Don't let one month, seven days, one week, one year affect your decisions. That's one advice I could give you. But I want to leave you with something even more important.

[00:56:53]If you have children in your family, your biggest concern today should be what should they be getting prepared for in the future. That should be your biggest concern today. We have 37 children in our family office that we currently are mentoring. And you need to have mentors for your children because the careers of the future are not the careers of the present. 70% of the jobs today did not exist 100 years ago. And 70% of the jobs in the next 10 years did not exist today. Just keep this in mind.

[00:57:29]Think about what were the smartest people doing about 200 years ago. That would potentially be the jobs of the future. A lot of people have to start looking at space as an economy, not as a destination, but as an economy. There have got new programs, masters of space and entrepreneurship. I would recommend you to look at it, not study it, but at least understand where we are going.

[00:57:51]Second, politics.

[00:57:53]Politics has a very bad reputation. That will be a area of expertise because there has to be a communicator between AI and humanity and our representatives are politicians. Politics will be a very interesting I would say career option for children. You will see health as a career option for children because traditional medicine is being challenged by technology. Nanopharmaceuticals that is going to be a very interesting area to study for children. So think from the perspective that if you have children what would be you have now time gentlemen ladies and gentlemen get one thing very clear today you have time today to prepare we've always been busy this 46 days was time to prepare for the future. The next seven days, if there's one change you make, prepare for the next seven generations. Not seven years, seven generations. Think about it and you will do it. Inheritance and legacy is not by accident. It is by intention. The question is, do you have the intent to take that action? So, if you're asking me to what changes the next seven days, use your time very wisely to plan for the next seven generations.

[00:59:15]I would say I'm not probably the best I'm probably not the best person to ask about uh wealth building strategy but but I would say number one thing I would suggest is that you need to invest into your number one wealth strategy machine which is you right so and the most important thing what I would protect to achieve It is your sleep like I treat my sleep like my life depends on it because it does um all the regenerative processes happening at sleep and uh this is when your biological machine recovers and ready for for the new day and this is important but what I am seeing is that majority of people not sleeping actually very well and they don't know what to do about it and yes you can take one supplement you can take here and there but if again it comes back comes down to the strategy if your uh target is to improve your sleep there's clear strategy and I'll give you just the three most simplest supplements that you that you can actually see already great results. Number one is magnesium L38.

[01:00:22]It's the only magnesium form that is proven to cross your blood brain barrier and actually put you into relaxation mode which is very very important. Uh we all know that we are high cortisol people majority of us which we are trying to move away from and evolve. uh that would be my number one supplement for anyone who want to improve uh their sleep. Second will be elenine which is a very powerful green tea extract that you can also support your well-being and your nervous system. And number three um glycine which is an amino acid which is a really really one of the best amino acids for your nervous system. And again this is most powerful support for your wealth building or any goals that you have in your life is protect your sleep and don't eat too much.

[01:01:18]It's another very important tool. Don't eat too much. Yeah. Yeah.

[01:01:28]Um, so as expected, >> I'm sorry, but the hostess should be I'm sure they are very generous. You can enjoy your lunch.

[01:01:37]>> Of course, I'm going to say take the next seven days. Um, so not only a physical health check and a mental health check, um, which is obviously what keeps us going every day. Um, take a moment to actually sit and give yourself a health a tax health check. So while you're all looking at your balance sheets, looking at where you can cut costs, looking at what expenses you can go without or what things you can, you know, go a faster pace on productivity, all of that, you keep forgetting how important taxes are. And I'm not saying that in the sense that you have done something wrong. We can do something better to make sure that that is also going to be improving your cash flow and also looking at managing and mitigating that risk. So, you know, a health check not only for yourself but for your business is essential and if things are quiet at the moment, let's take these next seven days to have a look at that whether it's for your business here in the UAE or outside the UAE.

[01:02:32]Thank you.

[01:02:42]>> Yes. So, I think everything is well said. So I might add one thing only that is discipline focus.

[01:02:51]So you know many people in UAE they come with thoughts, ideas, concepts and we look after some few years to those who have achieved and this comes through execution with discip discipline with focus.

[01:03:15]We hear a a lot about clear thinking.

[01:03:19]Clear thinking through the execution phases helps you open more gates, more opportunities and cross-linking the outcomes aggregate the result. So my point to everyone, discipline makes the results, focus makes you able to achieve the impossible.

[01:03:43]Thank you.

[01:03:50]What was the >> Yeah, sorry. I I missed the main >> Sorry. Look, I'm with you. I was listening so intently as well. Uh Alex, my final question was if you were going to advise our audience to take one step over the next seven days to better protect their capital. Maybe it's coming and finding out more about the tree of life. Um but if there was one piece of advice you could give them to protect their capital, what would it be?

[01:04:16]>> Invest in your health and in everyone.

[01:04:19]Of course. Yeah. Because this is for me it's it's the same. But you really you cannot imagine because inside the building you will have all the longevity concing we need to speak.

[01:04:38]>> Yeah. So yeah because this is the holistic ecosystem of future life. This is really this is the not even evolution of real estate but this is revolution in real estate and the margins the profits is growing each year in this typology of real estate. And not forget we create the health, well-being and longevity for planet, communities and humans.

[01:05:19]Three, the main trinity. It's I'm talking this is very good karma of investment. Welcome.

[01:05:29]>> All right, we'll let you have that sales plug because you did it so nicely. Thank you, Alex. Uh thank you to Oh y please >> I would like to to to to inform everyone that uh we are from the private sector but we follow what the country announces in terms of the next 10 years planning.

[01:05:46]So the theme of the next 10 years is supply chain. So if we are today in the capital and wealth community supply chain investment and capital allocation is a new direction. The UEE resilience is economic resilience much more it was defense resilience. So think about the sectors that will bring more resilience to the economy and you will understand that the UEE is planning to be the center of supply chain with 10 towns with 10 times down the supply chain sectors production, manufacturing, logistics and all kinds of supportive uh productivity that brings this country to a much more resilient system in the future. So if I would advise I would advise everyone in capital allocation sector to direct his attention to those supply chain sectors in the current time and the future.

[01:06:48]>> Very good advice. I mean interesting the local economy is already threequarters of it is already non oil anyway and we know there's been so much invested in trade and infrastructure but great tips.

[01:06:56]Thank you Muhammad. Um big thank you to all of our panels. I would say I I guess for me to me it's really clear that when we look at the protection of our health and wealth today, it's not just about where capital goes, but really it's about how it's positioned, how it's structured, and how the decisions around it are made. And given what is going on in the world today, I think those decisions matter more than ever. What an honor to be joined by our experts today.

[01:07:22]Ladies and gentlemen, please join with me in giving them a big round of applause.