DUBAI // The city’s urban development plan will need to be revised to deal with the impact that the Expo 2020 will have on the city.
Completed in 2011, Dubai Urban Plan 2020 outlined key objectives for the development of the emirate.
However, the document is about to be reviewed in light of the winning bid to host Expo 2020, said Najib Saleh, head of the planning research section at Dubai Municipality and head of Dubai Urban Plan 2020.
“This plan is not rigid, it is a flexible plan, we have to review it again especially now after Expo 2020,” said Mr Saleh, explaining that a lot of development is expected in the area close to Al Maktoum International Airport.
“A lot of things have changed, Dubai is a dynamic city,” he said. “When this plan was approved Expo 2020 was not there, now we have Expo 2020, so we have to listen to the private sector how this will impact also on our plan.”
Mr Saleh will address delegates at the Urban Agenda 2020 conference, which forms part of the Dubai Municipality-sponsored Outdoor Design, Build and Supply Exhibition. The event will run from March 31 to April 2 at the Dubai World Trade Centre.
Work on the document started in 2010 when a steering committee was formed including entities such as the Roads and Transport Authority (RTA), the Dubai Electricity and Water Authority, the Dubai Land Department, the Civil Aviation Authority and Dubai Maritime City.
Planners reviewed three scenarios about the expected population growth in the emirate. A low-growth scenario assumed that resident numbers will grow at a rate of 2 per cent per year. A high-growth scenario was based on the assumption that this increase would be at 5 per cent until next year, possibly rising as high as 7 per cent in the years afterwards.
The plan assumed that a medium-growth scenario was the most realistic, with expectations of population growth of 4.2 per cent.
“We estimated that by 2020, the total population will be something like 2.8 [million people],” he said.
This January, in order to assess whether the projections were correct, the team compared the actual number of people living in Dubai at the end of last year with projections in the plan. The plan envisioned 2.14 million people, while the latest data showed the population was 2.2 million people.
“This gives you an idea we are on the right track,” said Mr Saleh. “Even if tomorrow, the growth range changed to high-growth rate, that means we are going to reach a maximum of 3.4 million people. The plan can hold the capacity up to 3.2 million.”
Sustainability is a key component of the plan, said Mr Saleh, explaining that the plan aims to limit urban sprawl as a way of reducing the need to travel and the pollution associated with transport. One way to achieve this is to limit growth from the coastline into the desert within the confines of Emirates Road, formerly known as the Dubai Bypass Road.
“All the development is to be within Emirates Road, to have a compact city. We have already infrastructure ... so why not make use of that and make benefit of that,” he said, explaining that the limit is a recommendation rather than compulsory for developers.
The plan also aims to encourage what Mr Saleh referred to as transit orientated development – changing land use regulations in areas within 400 metres of stops on the Dubai Metro in a way that mixed-use developments are promoted.
The idea, he said, was ultimately to encourage more residential and office buildings to be built close to the metro, ensuring more people use it in their daily lives, and thus reducing the demand for car travel. Dubai Municipality is collaborating with the RTA on how to achieve this, he said.
“We had several meetings with RTA and we are working with them very closely,” he said. “Still it is not finalised but, of course, there will be some type of motivation for the developers.”
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GAC GS8 Specs
Engine: 2.0-litre 4cyl turbo
Power: 248hp at 5,200rpm
Torque: 400Nm at 1,750-4,000rpm
Transmission: 8-speed auto
Fuel consumption: 9.1L/100km
On sale: Now
Price: From Dh149,900
The specs
- Engine: 3.9-litre twin-turbo V8
- Power: 640hp
- Torque: 760nm
- On sale: 2026
- Price: Not announced yet
Killing of Qassem Suleimani
Match info
Australia 580
Pakistan 240 and 335
Result: Australia win by an innings and five runs
Not Dark Yet
Shelby Lynne and Allison Moorer
Four stars
Our legal consultants
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
The bio:
Favourite film:
Declan: It was The Commitments but now it’s Bohemian Rhapsody.
Heidi: The Long Kiss Goodnight.
Favourite holiday destination:
Declan: Las Vegas but I also love getting home to Ireland and seeing everyone back home.
Heidi: Australia but my dream destination would be to go to Cuba.
Favourite pastime:
Declan: I love brunching and socializing. Just basically having the craic.
Heidi: Paddleboarding and swimming.
Personal motto:
Declan: Take chances.
Heidi: Live, love, laugh and have no regrets.
KILLING OF QASSEM SULEIMANI
The specs
Engine: 2.0-litre 4-cyl turbo
Power: 201hp at 5,200rpm
Torque: 320Nm at 1,750-4,000rpm
Transmission: 6-speed auto
Fuel consumption: 8.7L/100km
Price: Dh133,900
On sale: now
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.”
Getting there
The flights
Flydubai operates up to seven flights a week to Helsinki. Return fares to Helsinki from Dubai start from Dh1,545 in Economy and Dh7,560 in Business Class.
The stay
Golden Crown Igloos in Levi offer stays from Dh1,215 per person per night for a superior igloo; www.leviniglut.net
Panorama Hotel in Levi is conveniently located at the top of Levi fell, a short walk from the gondola. Stays start from Dh292 per night based on two people sharing; www. golevi.fi/en/accommodation/hotel-levi-panorama
Arctic Treehouse Hotel in Rovaniemi offers stays from Dh1,379 per night based on two people sharing; www.arctictreehousehotel.com
SCORES IN BRIEF
Lahore Qalandars 186 for 4 in 19.4 overs
(Sohail 100,Phil Salt 37 not out, Bilal Irshad 30, Josh Poysden 2-26)
bt Yorkshire Vikings 184 for 5 in 20 overs
(Jonathan Tattersall 36, Harry Brook 37, Gary Ballance 33, Adam Lyth 32, Shaheen Afridi 2-36).
Company%20profile
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Our legal consultants
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
UAE currency: the story behind the money in your pockets
Avatar: Fire and Ash
Director: James Cameron
Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana
Rating: 4.5/5
if you go
The flights
Air Astana flies direct from Dubai to Almaty from Dh2,440 per person return, and to Astana (via Almaty) from Dh2,930 return, both including taxes.
The hotels
Rooms at the Ritz-Carlton Almaty cost from Dh1,944 per night including taxes; and in Astana the new Ritz-Carlton Astana (www.marriott) costs from Dh1,325; alternatively, the new St Regis Astana costs from Dh1,458 per night including taxes.
When to visit
March-May and September-November
Visas
Citizens of many countries, including the UAE do not need a visa to enter Kazakhstan for up to 30 days. Contact the nearest Kazakhstan embassy or consulate.
More on animal trafficking
Paris%20Agreement
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Who was Alfred Nobel?
The Nobel Prize was created by wealthy Swedish chemist and entrepreneur Alfred Nobel.
- In his will he dictated that the bulk of his estate should be used to fund "prizes to those who, during the preceding year, have conferred the greatest benefit to humankind".
- Nobel is best known as the inventor of dynamite, but also wrote poetry and drama and could speak Russian, French, English and German by the age of 17. The five original prize categories reflect the interests closest to his heart.
- Nobel died in 1896 but it took until 1901, following a legal battle over his will, before the first prizes were awarded.
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Our family matters legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.