A fire broke out at Kuwait International Airport early on Monday. AP Photo
A fire broke out at Kuwait International Airport early on Monday. AP Photo
A fire broke out at Kuwait International Airport early on Monday. AP Photo
A fire broke out at Kuwait International Airport early on Monday. AP Photo

Fire breaks out at Kuwait International Airport's under-construction Terminal 2 area


Nada AlTaher
  • English
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Six teams of firefighters fought a blaze that broke out in Kuwait International Airport's under-construction Terminal 2, emergency services on scene told The National.

Col Mohammad Al Ghareeb from the public relations department of the Fire Force said the blaze began in the under-construction area of Terminal 2. A statement from authorities said the blaze began about 5.30am on Monday in a garage area.

They said it spread to the ground floor and a portion of the first floor of the huge new multi-billion dollar terminal building.

"Firefighting teams quickly contained the flames," the authorities said. There were no casualties and the fire only caused material damage.

Images and videos shared by first responders showed thick black smoke billowing from the new building.

Flight tracking data showed planes arriving at and departing from the airport throughout Monday morning. Several early morning flights took off with slight delays, but Kuwait's Directorate General of Civil Aviation said air traffic was normal and had “not been affected” by the fire.

Ahmad Saad Al Saleh, spokesman at the Ministry of Public Works, said a “limited fire” broke out in a section of the T2 project on Monday morning and firefighters were working to put out the blaze.

The $4.3 billion Terminal 2 construction will replace the existing building with a hub able to handle over 25 million passengers a year. It is expected to provide 15,000 jobs for Kuwaitis and Foster + Partners, the project architects, said building work was scheduled to be finished by August this year.

It is unclear if the fire will delay to the project's completion schedule.

Minister Rana Al Fares has said the new facility will offer a “major boost” to aviation in Kuwait, state news agency Kuna reported last year.

Once completed, the new terminal will have 28 gates, be able to accommodate 51 aircraft and have space for 5,000 cars to park, Mr Al Fares said.

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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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  • Individuals must register on UAE Drone app or website using their UAE Pass
  • Add all their personal details, including name, nationality, passport number, Emiratis ID, email and phone number
  • Upload the training certificate from a centre accredited by the GCAA
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Know before you go
  • Jebel Akhdar is a two-hour drive from Muscat airport or a six-hour drive from Dubai. It’s impossible to visit by car unless you have a 4x4. Phone ahead to the hotel to arrange a transfer.
  • If you’re driving, make sure your insurance covers Oman.
  • By air: Budget airlines Air Arabia, Flydubai and SalamAir offer direct routes to Muscat from the UAE.
  • Tourists from the Emirates (UAE nationals not included) must apply for an Omani visa online before arrival at evisa.rop.gov.om. The process typically takes several days.
  • Flash floods are probable due to the terrain and a lack of drainage. Always check the weather before venturing into any canyons or other remote areas and identify a plan of escape that includes high ground, shelter and parking where your car won’t be overtaken by sudden downpours.

 

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A clear distinction between the residences and the Raffles hotel with the amenities operated separately.

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Olivia Petricola (vice-captain) – centre / wing attack (Dubai English Speaking College)

Isabel Affley – goalkeeper / goal defence (Dubai English Speaking College)

Jemma Eley – goal attack / wing attack (Dubai College)

Alana Farrell-Morton – centre / wing / defence / wing attack (Nord Anglia International School)

Molly Fuller – goal attack / wing attack (Dubai College)

Caitlin Gowdy – goal defence / wing defence (Dubai English Speaking College)

Noorulain Hussain – goal defence / wing defence (Dubai College)

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Updated: March 28, 2022, 10:45 AM