Saif Al Hamli, centre, and his family live in Al Dhafrah Marabiea, the closest residential area to Shams 1. Like many of their neighbours, the Al Hamli family keeps a traditional bedouin tent outside their home. The National
Saif Al Hamli, centre, and his family live in Al Dhafrah Marabiea, the closest residential area to Shams 1. Like many of their neighbours, the Al Hamli family keeps a traditional bedouin tent outside Show more

Exciting times in Abu Dhabi's western region, the heart of the energy sector



There are no glittering towers or huge malls here, life is more relaxed with a respect for tradition. While there is a reliance on the oil industry for jobs, Al Gharbia’s people do not appear to feel threatened by the arrival of a cutting-edge solar-energy project. In fact they welcome it.

ABU DHABI // Nestled between the waters of the Arabian Gulf and sands of the Empty Quarter is Abu Dhabi's western region, Al Gharbia.

There are no glass and steel towers here, or huge shopping malls.

Life has a different pace, and residents pride themselves on being more in touch with their bedouin heritage than their cousins in the cities.

Jobs in this region are limited to the government sector, the military and the oil industry.

Yet in the midst of this quiet land is the UAE's latest milestone: Shams 1, the country's first large-scale solar power plant.

"People are still together here, everybody knows each other, it's a real community," says Mohammed Salem Al Mazroui, who works at Madinat Zayed municipality.

Mr Al Mazroui's father and grandfather lived here in Al Gharbia, and he says he feels closer to them by living here as they did.

"We still have our roots here, people still live somewhat like their bedouin ancestors did."

He and his family live in the new Al Dhafrah Marabiea community, the closest residential area to Shams 1.

On just about every street in this suburb, in front of a modern villa stands a bedouin tent. The tents have the same elements as the bedouins once had, such as majlis seating and a fire to make tea and coffee. Most also have modern comforts such satellite television and air conditioning.

"Everyone has a hobby here that occupies their time, hobbies that reflect our bedouin heritage," says Saif Al Hamli, another resident of the community.

Sitting with his three sons in his lavish tent, Mr Al Hamli proudly talks about life in Al Gharbia.

His passion is racing camels. "Some have falcons, some have horses, some have cattle, some grow date palms. Here we have time for such activities, and those with similar interests will gather at their majlis and spend the night talking about it over coffee and tea."

Mr Al Hamli works at the nearby Habshan oil field, and knows how much people here depend on the oil and gas industry for their livelihood.

"I know oil is important to us, but we must not lose sight of how it affects our environment.

"If Shams 1 were a diesel plant I would not allow my family to live so close to it. The environmental and health side effects would be too severe. Thankfully, because it's solar, we hardly even know it's there."

That environmental aspect is also important to Mr Al Mazroui. "Part of being a bedouin is to respect your surroundings, and care for land and the blessings it provides," he says. "It was very appropriate that this solar plant was built here."

He added that in the last two years there have been delays in getting homes connected to the electrical grid.

"I hope having this plant here will solve the problem." When fully operational, Shams 1 will produce 100 megawatts of electricity - enough to power 20,000 UAE homes.

Khaled Mubarak Al Qubaisi, 28, was one of two Higher College of Technology students to get an early chance to visit the plant, accompanied by eight HCT academics.

"The scale of it was really incredible," says the second-year chemical engineering student.

"This plant can power 100 Sheikh Zayed mosques. This was truly a unique experience for me, to be one of the first people to get a chance to visit this huge milestone in the UAE's vision of the future. This is a real investment in the future of this country and its people."

Though Mr Al Qubaisi lives in Abu Dhabi, he works at the projects department of Adnoc's Al Ruwais oil field in Al Gharbia.

"Our family is originally from Liwa, so I was very proud to see that such projects are taking place there. I'm sure Shams 1 will serve the people of Al Gharbia well and aid in the expansion and development of that part of the country."

Many of his fellow students have been eager to hear about his visit. "Renewable energy is a very important subject, and I'm happy that the UAE has taken steps to protect its natural resources for the coming generations."

Since his visit, Mr Al Qubaisi has been considering looking for work in the renewable energy sector.

"It's been in the back of my mind," he says. "I'm not sure yet, but maybe I will."

Ghanem Al Subaihi, an armed forces officer who is stationed at the UAE-Saudi border and lives in Madinat Zayed, says it was "about time" the UAE launched such a large-scale solar project.

"Solar is the most easily available resource we have, and especially here in the UAE where we have sunny days almost all year round," he says.

"I don't know why they haven't done this sooner. Solar is clean, renewable, and readily abundant. I guess we have been just too dependent on fossil fuels.

"I don't see this as a threat to our oil industry, if anything this will aid it since there will be less local consumption."

He was proud the UAE and his home region in particular concentrating on alternative energy.

"I have family in Al Ain, I hope this is the first of many, and that they build the next solar plant there," says Mr Al Subaihi.

Al Ain, too, has plenty of potential for solar power, according to the general manager of Shams 1, Yousif Al Ali.

"Before we built the station here, we looked around the country to see where would be the most suitable location.

"We had to study how clear the air is, the less particles in the air the more efficient this solar system will be. The cleanest place we found was Al Ain."

Vidaamuyarchi

Director: Magizh Thirumeni

Stars: Ajith Kumar, Arjun Sarja, Trisha Krishnan, Regina Cassandra

Rating: 4/5

 

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.”

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COMPANY PROFILE
Name: ARDH Collective
Based: Dubai
Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
Sector: Sustainability
Total funding: Self funded
Number of employees: 4
Cryopreservation: A timeline
  1. Keyhole surgery under general anaesthetic
  2. Ovarian tissue surgically removed
  3. Tissue processed in a high-tech facility
  4. Tissue re-implanted at a time of the patient’s choosing
  5. Full hormone production regained within 4-6 months
OIL PLEDGE

At the start of Russia's invasion, IEA member countries held 1.5 billion barrels in public reserves and about 575 million barrels under obligations with industry, according to the agency's website. The two collective actions of the IEA this year of 62.7 million barrels, which was agreed on March 1, and this week's 120 million barrels amount to 9 per cent of total emergency reserves, it added.

The specs
Engine: 77.4kW all-wheel-drive dual motor
Power: 320bhp
Torque: 605Nm
Transmission: Single-speed automatic
Price: From Dh219,000
On sale: Now
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The Library: A Catalogue of Wonders
Stuart Kells, Counterpoint Press

Formula Middle East Calendar (Formula Regional and Formula 4)
Round 1: January 17-19, Yas Marina Circuit – Abu Dhabi
 
Round 2: January 22-23, Yas Marina Circuit – Abu Dhabi
 
Round 3: February 7-9, Dubai Autodrome – Dubai
 
Round 4: February 14-16, Yas Marina Circuit – Abu Dhabi
 
Round 5: February 25-27, Jeddah Corniche Circuit – Saudi Arabia
The specs

Engine: Direct injection 4-cylinder 1.4-litre
Power: 150hp
Torque: 250Nm
Price: From Dh139,000
On sale: Now

NEW ARRIVALS

Benjamin Mendy (Monaco) - £51.75m (Dh247.94m)
Kyle Walker (Tottenham Hotspur) - £45.9m
Bernardo Silva (Monaco) - £45m
Ederson Moraes (Benfica) - £36m
Danilo (Real Madrid) - £27m
Douglas Luiz (Vasco de Gama) - £10.8m 

List of alleged parties

 May 15 2020: PM and Carrie attend 'work meeting' with at
least 17 staff members

May 20 2020: PM and Carrie attend 'bring your own booze'
party

Nov 27 2020: PM gives speech at leaving do for his staff

Dec 10 2020: Staff party held by then-education secretary
Gavin Williamson

Dec 13 2020: PM and Carrie throw a flat party

Dec 14 2020: London mayor candidate Shaun Bailey holds staff party at Conservative
Party headquarters

Dec 15 2020: PM takes part in a staff quiz

Dec 18 2020: Downing Street Christmas party

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HOW TO WATCH

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Results

4pm: Maiden (Dirt) Dh165,000 1,600m
Winner: Moshaher, Pat Dobbs (jockey), Doug Watson (trainer).

4.35pm: Handicap (D) Dh165,000 2,200m
Winner: Heraldic, Richard Mullen, Satish Seemar.

5.10pm: Maiden (Turf) Dh165,000 1,600m
Winner: Rua Augusta, Harry Bentley, Ahmad bin Harmash.

5.45pm: Handicap (D) Dh190,000 1,200m
Winner: Private’s Cove, Mickael Barzalona, Sandeep Jadhav.

6.20pm: Handicap (T) Dh190,000 1,600m
Winner: Azmaam, Jim Crowley, Musabah Al Muhairi.

6.55pm: Handicap (D) Dh190,000 1,400m
Winner: Bochart, Richard Mullen, Satish Seemar.

7.30pm: Handicap (T) Dh190,000 2,000m
Winner: Rio Tigre, Mickael Barzalona, Sandeep Jadhav.

Other workplace saving schemes
  • The UAE government announced a retirement savings plan for private and free zone sector employees in 2023.
  • Dubai’s savings retirement scheme for foreign employees working in the emirate’s government and public sector came into effect in 2022.
  • National Bonds unveiled a Golden Pension Scheme in 2022 to help private-sector foreign employees with their financial planning.
  • In April 2021, Hayah Insurance unveiled a workplace savings plan to help UAE employees save for their retirement.
  • Lunate, an Abu Dhabi-based investment manager, has launched a fund that will allow UAE private companies to offer employees investment returns on end-of-service benefits.
The Sand Castle

Director: Matty Brown

Stars: Nadine Labaki, Ziad Bakri, Zain Al Rafeea, Riman Al Rafeea

Rating: 2.5/5

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