Morning round-up: 137,680,653 man hours on Yas Island

On Yas Island, 41,000 construction workers are in a race to finish in time for the

Abu Dhabi Grand Prix

in November. The island

is one of the most frenetic and orchestrated construction sites in the country and is coming online just as more than a dozen new hotels, apartment buildings and offices are also opening

. The enormity of the exertion underway at Yas can be found in its kitchens, which go through 17 tonnes of rice and 156,000 pieces of chapatti bread a day, not to mention 250 tonnes of chicken a month.

Land banks held by property developers have declined in value by as much as 30 per cent since their peak last year

, which could mean major impairments in the value of assets for major companies, Uta Hanischfeger and Angela Giuffrida report in The National. Places like the Waterfront and Palm Deira - which are only partially developed - are the most affected by declines in land values.