Visitors look at a scale model of the Expo Dubai 2020 project during Cityscape Global at Dubai World Trade Centre. Francois Nel/Getty Images
Visitors look at a scale model of the Expo Dubai 2020 project during Cityscape Global at Dubai World Trade Centre. Francois Nel/Getty Images
Visitors look at a scale model of the Expo Dubai 2020 project during Cityscape Global at Dubai World Trade Centre. Francois Nel/Getty Images
Visitors look at a scale model of the Expo Dubai 2020 project during Cityscape Global at Dubai World Trade Centre. Francois Nel/Getty Images

Expo 2020 Dubai to hire chief officer for visitor engagement


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Expo 2020 Dubai expects to announce in January the appointment of a senior official tasked with attracting a targeted 25 million visits to the six-month mega-event that kicks off in three years' time.

"From early 2018, our top team will be enhanced by the appointment of a Chief Visitor Experience Officer, who will lead the ongoing development of a world-class visitor experience that will be enjoyed by the millions who come to Expo 2020," a spokesman for Expo 2020 Dubai said.

“We will make further announcements on this in due course.”

The news follows uncertainty as to whether Expo 2020 Dubai would opt to replace former chief operating officer  Simon Clegg, the former chief executive  and elected board member of the British Olympic Association, who left his position at the Expo in September.

Tony Aikenhead, who works in the Expo 2020 real estate team and previously served as chief executive of UK housebuilder Robert McAlpine until July 2016, has been acting COO in the meantime.

Dubai is ramping up investments on infrastructure in the run-up to Expo 2020, with expenditure in the emirate’s biggest ever budget for 2018 jumping 19.5 per cent from 2017 to help finance Expo-related projects. Total government investment for the Expo is forecast at Dh25 billion. In addition, the new metro extension leading to the Expo will cost Dh10.6bn.

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He will continue in his role with the new title of Chief Infrastructure and Delivery Officer, the Expo spokesperson said.

“We are making great progress delivering Expo 2020 Dubai,” the spokesperson added.

“More than 160 countries have committed to take part. Construction of the theme districts is well underway, and from April next year participants will be able to take over their plots to begin construction of their pavilions.”

Construction of the UAE’s pavilion broke ground earlier this week at the 4.38 square kilometre Expo site currently under construction in Dubai South, an economic free zone close to Al Maktoum International Airport and Jebel Ali Port.

The organising body said last month a total of Dh10.8bnworth of construction contracts had been awarded this year, as well as Dh411 million of non-construction contracts, as plans remain on track for the emirate to host the six-month event from October 2020 to April 2021.

The President's Cake

Director: Hasan Hadi

Starring: Baneen Ahmad Nayyef, Waheed Thabet Khreibat, Sajad Mohamad Qasem 

Rating: 4/5

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Gothia Cup 2025

4,872 matches 

1,942 teams

116 pitches

76 nations

26 UAE teams

15 Lebanese teams

2 Kuwaiti teams

The%20specs
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The burning issue

The internal combustion engine is facing a watershed moment – major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE. 

Read part four: an affection for classic cars lives on

Read part three: the age of the electric vehicle begins

Read part one: how cars came to the UAE

 

The burning issue

The internal combustion engine is facing a watershed moment – major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE. 

Read part four: an affection for classic cars lives on

Read part three: the age of the electric vehicle begins

Read part two: how climate change drove the race for an alternative 

Mobile phone packages comparison
Terror attacks in Paris, November 13, 2015

- At 9.16pm, three suicide attackers killed one person outside the Atade de France during a foootball match between France and Germany- At 9.25pm, three attackers opened fire on restaurants and cafes over 20 minutes, killing 39 people- Shortly after 9.40pm, three other attackers launched a three-hour raid on the Bataclan, in which 1,500 people had gathered to watch a rock concert. In total, 90 people were killed- Salah Abdeslam, the only survivor of the terrorists, did not directly participate in the attacks, thought to be due to a technical glitch in his suicide vest- He fled to Belgium and was involved in attacks on Brussels in March 2016. He is serving a life sentence in France

RESULT

Huddersfield Town 2 Manchester United 1
Huddersfield: Mooy (28'), Depoitre (33')
Manchester United: Rashford (78')

 

Man of the Match: Aaron Mooy (Huddersfield Town)

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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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Benefits of first-time home buyers' scheme
  • Priority access to new homes from participating developers
  • Discounts on sales price of off-plan units
  • Flexible payment plans from developers
  • Mortgages with better interest rates, faster approval times and reduced fees
  • DLD registration fee can be paid through banks or credit cards at zero interest rates
How to wear a kandura

Dos

  • Wear the right fabric for the right season and occasion 
  • Always ask for the dress code if you don’t know
  • Wear a white kandura, white ghutra / shemagh (headwear) and black shoes for work 
  • Wear 100 per cent cotton under the kandura as most fabrics are polyester

Don’ts 

  • Wear hamdania for work, always wear a ghutra and agal 
  • Buy a kandura only based on how it feels; ask questions about the fabric and understand what you are buying
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UAE currency: the story behind the money in your pockets
MATCH INFO

Confederations Cup Group B

Germany v Chile

Kick-off: Thursday, 10pm (UAE)

Where: Kazan Arena, Kazan

Watch live: Abu Dhabi Sports HD