The development of the capital will remain true to the vision of Sheikh Zayed.
The development of the capital will remain true to the vision of Sheikh Zayed.
The development of the capital will remain true to the vision of Sheikh Zayed.
The development of the capital will remain true to the vision of Sheikh Zayed.

Remaining true to Sheikh Zayed's vision


  • English
  • Arabic

There are very few cases in history in which the juxtaposition of a huge concentration of wealth over a vast geographic and demographic emptiness have come together to defy the models of development so fundamentally as in the Gulf today. I first came to Abu Dhabi in 1982, and I remember driving for hours in the vastness of the desert, overwhelmed by the extreme beauty and severity of the landscape.

This image has been replaced now by an explosion of construction, juxtaposed on to the subtle greenery created by Sheikh Zayed, the founding President of the UAE. This new image is the result of the tendency to undertake projects of extraordinary exuberance without first establishing the framework for a sustainable social and urban fabric, such as that envisioned by Sheikh Zayed. The lack of a more generic framework for development in the UAE is due to human nature. The need to leave an immediate mark, after all, is a compelling psychological force.

It is also a result of the failure of the so-called international experts - all of us working in the area, regardless of our origin or professional acumen - to foresee the problems of such an approach in establishing a sustainable future for the region. This is explained by the self-serving character of "professional neutrality". Then there is the dictum: "If we build it, they will come." Examples of the risks embedded in this philosophy are plenty in the region and in some cases also glaring evidence of its destructive effects.

In many cities throughout the region, buildings appear to have no respect for one another. The fight for formal distinction has created a confusing environment in which it is difficult to find a viable response to the true potential of the extraordinary geography of the area. New cities are being "created" around allegoric themes as if they were products for consumption rather than organic entities. They are designed as objects; square boundaries drawn in the sand, metaphorical forms only visible from the air.

But there are clear examples, both historical and contemporary, of attempts to confront this problem from a more "infrastructural" perspective. The development of the Abu Dhabi Plan 2030 is one of the most recent attempts for a more sound strategy to define a framework for development. But perhaps the most effective attempt to give a real character to the area is still Sheikh Zayed's original interest in transforming the original landscape of the capital into a place of greenery and expanded open spaces.

After some years of experimentation since this initial intervention, the alternatives for the future are clear: either we continue the process of creating ever more "built events" in the hope that the links between them will self-generate; or we undertake a more challenging task in creating links that could control those events before they take place. This task cannot be achieved by the traditional planning principles seen around the world. It requires a more active initiative to build a public realm that could address the environmental condition to which it is subject.

This project is the building of a system of national parks that could provide a continuum to the experience of being part of this extraordinary place. It would turn the focus of attention from the waterfront to the desert, a national asset that defines its character, and it should be based on a new, sound environmental policy that is increasingly being put in place. This initiative should provide for an enormous investment in new and more sustainable forms of public transport, such as envisioned in the Abu Dhabi Surface Transport Master Plan, and the development of affordable housing to make the area a destination for newcomers and locals. This project will not be a set of principles to control private development, but the construction of the canvas on which it can occur.

One obvious problem with this is that it may not meet the public's present parameters of what is considered glamorous: a building with enough visual power to create its own branding. But those parameters are now challenged by the ideological shift created by the global economic crisis anyway. The Plan 2030 framework allows for the establishment of a national parks system adjacent to the city. With the many other priorities facing the Government and the emirate's property developers, I hope this important element gets the attention it deserves.

As it was first envisioned by Sheikh Zayed, the success of this country depends on the creation of a national landscape. The scale of this enterprise is unique in the history of urban or regional development, but commensurate to the scale of the economic power that the country enjoys. Rafael Vinoly, an architect for 45 years, has completed buildings and master plans throughout the US, Europe, Latin America and Asia, as well as in Africa and the Middle East. He is the master planner for the New York University Abu Dhabi campus and the architect for the hotel and entertainment complex under design at Mina Zayed.

Who's who in Yemen conflict

Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government

Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council

Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south

Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory

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How it works

A $10 hand-powered LED light and battery bank

Device is operated by hand cranking it at any time during the day or night 

The charge is stored inside a battery

The ratio is that for every minute you crank, it provides 10 minutes light on the brightest mode

A full hand wound charge is of 16.5minutes 

This gives 1.1 hours of light on high mode or 2.5 hours of light on low mode

When more light is needed, it can be recharged by winding again

The larger version costs between $18-20 and generates more than 15 hours of light with a 45-minute charge

No limit on how many times you can charge

 

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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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Our legal consultants

Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

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The specs

Engine: 3.0-litre six-cylinder MHEV

Power: 360bhp

Torque: 500Nm

Transmission: eight-speed automatic

Price: from Dh282,870

On sale: now

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

If you go

Flight connections to Ulaanbaatar are available through a variety of hubs, including Seoul and Beijing, with airlines including Mongolian Airlines and Korean Air. While some nationalities, such as Americans, don’t need a tourist visa for Mongolia, others, including UAE citizens, can obtain a visa on arrival, while others including UK citizens, need to obtain a visa in advance. Contact the Mongolian Embassy in the UAE for more information.

Nomadic Road offers expedition-style trips to Mongolia in January and August, and other destinations during most other months. Its nine-day August 2020 Mongolia trip will cost from $5,250 per person based on two sharing, including airport transfers, two nights’ hotel accommodation in Ulaanbaatar, vehicle rental, fuel, third party vehicle liability insurance, the services of a guide and support team, accommodation, food and entrance fees; nomadicroad.com

A fully guided three-day, two-night itinerary at Three Camel Lodge costs from $2,420 per person based on two sharing, including airport transfers, accommodation, meals and excursions including the Yol Valley and Flaming Cliffs. A return internal flight from Ulaanbaatar to Dalanzadgad costs $300 per person and the flight takes 90 minutes each way; threecamellodge.com

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