On Monday, Emirates Marine Environmental Group (EMEG) and Procter & Gamble inaugurated what is soon to be a lush green haven along the desert coastline of Dubai.
Dubai Mangrove Forest is located at the Jebel Ali Wildlife Sanctuary. According to an official statement, the location is a United Nations protected reserve that is being managed by EMEG and has been included in the Ramsar List of Wetlands of International Importance.
The initiative is in line with Dubai's plan for more than half the city to be transformed into natural reserves by 2040. It has also been developed in collaboration with The Storey Group and EcoMatcher, which launched the One Billion Trees Initiative this year.
What can you find at Dubai Mangrove Forest?
A total of 1,000 mangrove trees have been planted along a stretch of Dubai coastline to create a lush green space, and that number is set to grow in the coming months.
P&G has announced that it intends to plant more saplings and adopt mangroves that are four or five years old, to maximise the carbon sequestration in the months to come.
According to Ali Al Suweidi, founder and president of EMEG, the aim is for the 500,000-square-metre area to be blanketed by greenery. When the tide is high, a large portion of the area will be covered with water.
The area also comprises coral reefs, seagrass beds and a natural beach that form part of a breeding ground for endangered species of turtles.
“Last year, we had 46 turtle nests along this beach. This year, we have 32 so far, with that number hopefully set to increase soon,” says Al Suweidi.
Other than turtles, the location will be home to 40 species of birds, as well as species of smaller fish and crabs, says Karen Storey, chief executive of The Storey Group.
A single wooden ramp or boardwalk has been built at the destination, allowing those who visit to get a better look at the mangrove forest and its wildlife.
Who is allowed to visit?
As of now, Dubai Mangrove Forest is not open to the general public.
In order to protect the sanctuary and its wildlife, a visit to Dubai Mangrove Forest can be made by invitation only. At the moment, there will be a focus on educational school trips and corporate team building.
“We will be organising trips for a small number of people at a time. It is especially good for children so they can learn to take care of the environment. They are the future and we want to pass these lessons down to them,” says Al Suweidi.
According to Al Suweidi, it may open to the public as early as after Eid Al Fitr, with online bookings required to make a visit.
Plant a mangrove – and 'chat' with your tree
One of the key aims of the new destination is to encourage the planting of more mangroves and increase green spaces in the UAE.
As part of this initiative, schools and companies will be invited to plant saplings and learn more about their importance for the ecosystem.
P&G has teamed up with EcoMatcher, which will allow people to visit the destination virtually. Through the use of blockchain technology, people will be able to view and keep tabs on their individual trees online.
“We will have an app that will allow people to ‘chat’ with their mangroves,” says Storey.
“Through the app, you will be able to ask your tree where it lives, what its height is, what it’s currently doing and what impact it’s having on the environment. It’s an integrated technology to engage with the customers and employees.”
Aayan%E2%80%99s%20records
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War 2
Director: Ayan Mukerji
Stars: Hrithik Roshan, NTR, Kiara Advani, Ashutosh Rana
Rating: 2/5
The President's Cake
Director: Hasan Hadi
Starring: Baneen Ahmad Nayyef, Waheed Thabet Khreibat, Sajad Mohamad Qasem
Rating: 4/5
TO%20CATCH%20A%20KILLER
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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.”
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
Results
6pm: Dubai Trophy – Conditions (TB) $100,000 (Turf) 1,200m
Winner: Silent Speech, William Buick (jockey), Charlie Appleby
(trainer)
6.35pm: Jumeirah Derby Trial – Conditions (TB) $60,000 (T)
1,800m
Winner: Island Falcon, Frankie Dettori, Saeed bin Suroor
7.10pm: UAE 2000 Guineas Trial – Conditions (TB) $60,000 (Dirt)
1,400m
Winner: Rawy, Mickael Barzalona, Salem bin Ghadayer
7.45pm: Al Rashidiya – Group 2 (TB) $180,000 (T) 1,800m
Winner: Desert Fire, Hector Crouch, Saeed bin Suroor
8.20pm: Al Fahidi Fort – Group 2 (TB) $180,000 (T) 1,400m
Winner: Naval Crown, William Buick, Charlie Appleby
8.55pm: Dubawi Stakes – Group 3 (TB) $150,000 (D) 1,200m
Winner: Al Tariq, Pat Dobbs, Doug Watsons
9.30pm: Aliyah – Rated Conditions (TB) $80,000 (D) 2,000m
Winner: Dubai Icon, Patrick Cosgrave, Saeed bin Suroor
NATIONAL%20SELECTIONS
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Zodi%20%26%20Tehu%3A%20Princes%20Of%20The%20Desert
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More from Rashmee Roshan Lall
Mobile phone packages comparison
How to apply for a drone permit
- 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
- Submit their request
What are the regulations?
- Fly it within visual line of sight
- Never over populated areas
- Ensure maximum flying height of 400 feet (122 metres) above ground level is not crossed
- Users must avoid flying over restricted areas listed on the UAE Drone app
- Only fly the drone during the day, and never at night
- Should have a live feed of the drone flight
- Drones must weigh 5 kg or less
COMPANY%20PROFILE
%3Cp%3E%3Cstrong%3EName%3A%3C%2Fstrong%3E%20SupplyVan%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Dubai%2C%20UAE%3Cbr%3E%3Cstrong%3ELaunch%20year%3A%3C%2Fstrong%3E%202017%3Cbr%3E%3Cstrong%3ENumber%20of%20employees%3A%3C%2Fstrong%3E%2029%3Cbr%3E%3Cstrong%3ESector%3A%3C%2Fstrong%3E%20MRO%20and%20e-commerce%3Cbr%3E%3Cstrong%3EFunding%3A%3C%2Fstrong%3E%20Seed%3C%2Fp%3E%0A
COMPANY PROFILE
Initial investment: Undisclosed
Investment stage: Series A
Investors: Core42
Current number of staff: 47
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