• The group claims the resort will be “the world’s ­greenest”, with a design that considers water usage, health, materials, pollution, ecology and waste. Courtesy Oasis Eco Resort
    The group claims the resort will be “the world’s ­greenest”, with a design that considers water usage, health, materials, pollution, ecology and waste. Courtesy Oasis Eco Resort
  • With towering dunes, date-palm plantations and natural springs, the Liwa area is higher and cooler than many other parts of the UAE, and home to protected herds of Arabian oryx and sand gazelle. Courtesy Oasis Eco Resort
    With towering dunes, date-palm plantations and natural springs, the Liwa area is higher and cooler than many other parts of the UAE, and home to protected herds of Arabian oryx and sand gazelle. Courtesy Oasis Eco Resort
  • Four renderings of the Oasis Eco Resort, which is due to open in Liwa, Abu Dhabi, in 2020. Photos courtesy Baharash Architecture
    Four renderings of the Oasis Eco Resort, which is due to open in Liwa, Abu Dhabi, in 2020. Photos courtesy Baharash Architecture
  • all the energy needs for the Oasis will be supplied by solar panels on its star-shaped roof. Courtesy Oasis Eco Resort
    all the energy needs for the Oasis will be supplied by solar panels on its star-shaped roof. Courtesy Oasis Eco Resort
  • The site aims to become an eco-destination, where tourists who want to learn about the UAE’s natural and cultural heritage can plan a stay. Courtesy Oasis Eco Resort
    The site aims to become an eco-destination, where tourists who want to learn about the UAE’s natural and cultural heritage can plan a stay. Courtesy Oasis Eco Resort
  • The resort will recycle its wastewater, manage its waste on-site, use organic waste for compost and grow some of its own vegetables in a greenhouse designed for the desert heat. Courtesy Oasis Eco Resort
    The resort will recycle its wastewater, manage its waste on-site, use organic waste for compost and grow some of its own vegetables in a greenhouse designed for the desert heat. Courtesy Oasis Eco Resort
  • Officially, the resort aims to be a zero-emission zone. Courtesy Oasis Eco Resort
    Officially, the resort aims to be a zero-emission zone. Courtesy Oasis Eco Resort
  • Landscaping will capitalise on local plants and trees that require little water. Courtesy Oasis Eco Resort
    Landscaping will capitalise on local plants and trees that require little water. Courtesy Oasis Eco Resort

Oasis Eco Resort in the Liwa region to be world’s greenest


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The push towards environmentally responsible travel, or eco­tourism, has been gaining traction since the 1990s. A 2010 study by the ­United ­Nations World Tourism ­Organization found this kind of travel to be “the fastest growing sector of the tourism industry, expanding globally between 20 per cent and 34 per cent per year”.

In the region, resorts such as Six Senses Zighy Bay in Oman set the standard for sustainable practices, with an emphasis on energy conservation and recycled water and waste, in a high-end, luxurious setting.

With an eye towards a more sustainable kind of tourism, the Dubai-based Eco Resort Group has announced plans to open the Oasis Eco Resort in the Liwa region, in Abu Dhabi emirate, in 2020. The group claims the resort will be “the world’s ­greenest”, with a design that considers water usage, health, materials, pollution, ecology and waste. Unlike Zighy Bay, all the energy needs for the Oasis will be supplied by solar panels on its star-shaped roof.

Baharash Architecture, a firm that has gained international recognition for green innovation, has been tasked with its design. Baharash ­Bagherian, designer and founder of Baharash Architecture, explains that it will be inspired by the UAE’s heritage. “At the very early stages of the project, we found out that we could extract groundwater using a deep well,” he says. “This gave us an opportunity to create a story around a spring, which was of critical importance to Bedouins for trade and transportation routes.”

With towering dunes, date-palm plantations and natural springs, the Liwa area is higher and cooler than many other parts of the UAE, and home to protected herds of Arabian oryx and sand gazelle.

“This is the most sustainable project we have ever worked on,” says Bagherian. The firm has already designed the first solar-powered hotel in Dubai – Hotel Indigo in Sustainable City, slated to open in 2017 – as well as a private eco retreat for a high profile Dubai resident.

When the resort is complete, a total of 84 interconnected suites will surround the spring, cooled by “passive design strategies” including extra wall insulation and triple-glazed windows. Such strategies have been practised for generations in the UAE to combat the heat. In the Al ­Fahidi district of Dubai, for example, thick stone walls, narrow walkways that create wind tunnels and the renowned ­Emirati wind towers provide some relief. While the Oasis will use more-modern adaptations for its design, it will be shaded by solar panels, similar to those in Abu Dhabi’s Masdar City.

The site aims to become an eco-destination, where tourists who want to learn about the UAE’s natural and cultural heritage can plan a stay, in the same way as, say, foodies travel to Bilbao. A wildlife conservationist and biologist will be part of the team that monitors the resort’s impact, as well as offering educational sessions to guests about how desert plants and animals have adapted to the climate.

Power for the Oasis will be generated by more than 14,500 square metres of solar panels on the roof. There are enough panels to noiselessly generate an excess of energy, which will be stored in batteries. Baharash Architecture is also exploring the option of feeding electricity back into the grid.

The resort will recycle its wastewater, manage its waste on-site, use organic waste for compost and grow some of its own vegetables in a greenhouse designed for the desert heat. Most greenhouses consume disproportionate volumes of water, which undercuts the benefit of growing on site. Naem ­Mazahrih, of the International Centre for ­Agricultural Research in the Dry Areas in Dubai, calculates that water needed for cooling a greenhouse in the hotter months exceeds the water needed for plant growth by a factor of five. To counteract this effect, at the Oasis Eco ­Resort, an evaporative air-conditioning system that uses 70 per cent less energy than conventional cooling will be installed.

Officially, the resort aims to be a zero-emission zone, similar to Sustainable City (the latter’s second phase was designed by Baharash). Guests will arrive at the resort by remote-controlled, driverless electric car or bus. If all goes according to plan, an electric shuttle will run from Abu Dhabi International Airport and possibly other points in the UAE. Those who drive a car to Liwa will park in a designated lot, then take a shuttle. Food will be sourced from Liwa farmers, with priority given to locally made products.

The main challenge facing the Oasis has to do with the long-term availability of water from the central spring, according to the firm. It will be used for drinking water, growing food for guests, fish farming and other recreational activities. By extracting as little water as possible and reusing “grey” water (everything used on-site, except that from toilets), the developers hope to minimise the spring’s depletion. Landscaping will capitalise on local plants and trees that require little water.

With Expo 2020 in sight, sustainability has taken on increasing priority in the UAE, despite the nation’s poor rating – third in the world – for per capita energy and water consumption. ­Resorts such as the Oasis will play a significant role in the ­transition.

“I believe that the UAE needs to nurture entrepreneurial spirit from the bottom up, by investing in young companies that offer innovative products or services in various sectors, such as health, water, agriculture, tourism or renewable energy, for example,” says Bagherian. “This inward investment will create more green jobs and will most likely result in a more sustainable UAE.”

homes@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.”

Frankenstein in Baghdad
Ahmed Saadawi
​​​​​​​Penguin Press

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Tax authority targets shisha levy evasion

The Federal Tax Authority will track shisha imports with electronic markers to protect customers and ensure levies have been paid.

Khalid Ali Al Bustani, director of the tax authority, on Sunday said the move is to "prevent tax evasion and support the authority’s tax collection efforts".

The scheme’s first phase, which came into effect on 1st January, 2019, covers all types of imported and domestically produced and distributed cigarettes. As of May 1, importing any type of cigarettes without the digital marks will be prohibited.

He said the latest phase will see imported and locally produced shisha tobacco tracked by the final quarter of this year.

"The FTA also maintains ongoing communication with concerned companies, to help them adapt their systems to meet our requirements and coordinate between all parties involved," he said.

As with cigarettes, shisha was hit with a 100 per cent tax in October 2017, though manufacturers and cafes absorbed some of the costs to prevent prices doubling.

Company Profile

Company name: NutriCal

Started: 2019

Founder: Soniya Ashar

Based: Dubai

Industry: Food Technology

Initial investment: Self-funded undisclosed amount

Future plan: Looking to raise fresh capital and expand in Saudi Arabia

Total Clients: Over 50

UPI facts

More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions