This is Volkswagen's multibillion dollar, six-year engineering odyssey that you'll never see again in millions of cars around the world.
Called the MQB platform, it is about to provide the basic architecture for everything from Audis and Volkswagens to Skodas and Seats.
The MQB will arrive first, unseen, beneath the all-new Audi A3 at the Geneva Motor Show later this month, followed by the next Golf soon after.
The German acronym for Modular Transverse Matrix, the MQB will find its way beneath everything from the next all-new VW Polo to the next VW Passat, from the Audi A1 to the Audi A4.
Besides saving around 60kg on the current Golf's architecture, the MQB is also made from hot-formed steels that are six times stronger than the usual steel sheets, uses simpler, lighter electrical systems and has more aluminium in the suspension.
But it won't stop there, as it's been designed to quickly have cost taken out of it for cheaper brands such as Skoda and Seat and more put in for Audi.
Even before it finds new niches, just replacing existing models in the VW Group's current lineup would involve the Polo, Beetle, Golf, Scirocco, Jetta, Tiguan and Touran, all the way up to cars the size of the Sharan and the Passat.
VW claims the MQB is a turning point in transverse-engined chassis design, because it has been standardised for so many different technologies at so many different prices.
Not only will all of these models be built off the same architecture, but they could also, theoretically, be built on the same production line, at the same time. There is a hint of a mega factory in the future for VW's smaller machines, in spite of different wheelbases and track widths.
The MQB will not only allow for different sizes of cars, but it's also pre-engineered for a range of safety innovations, electrical architectures, different drive systems and it's even future-proofed for consumer electronics innovations, such as iPad-style devices instead of MMI displays.
Even the VW Group's designers love it, because it stretches the distance between the front wheels ahead of the windscreen pillars and reduces the need for front overhang, which allows them to put cleaner proportions on their body shapes.
There have been plenty of previous chassis that could be stretched or shrunk to accommodate bigger or smaller cars, but this architecture will slash the VW Group's costs by also stretching and shrinking the same electrical wiring systems, the same engines, the same transmissions and the same ventilation setups.
The MQB will be based around the exact same engine mounting points for every car it sits beneath, including two all-new modular VW Group engines.
The EA211 petrol engine range works at outputs from 40kW to 110kW while the EA288 diesel engine range will stretch from 88hp to 188hp of power. Between them, they will slash the engine and gearbox complexity on VW production lines by around 90 per cent.
The MQB has also found space for existing and (some) future drive systems, such as natural gas, electric drive and hybrid drive, and the Golf will have a 20kW electric motor when its hybrid debuts next year.
It also rings in safety changes with a new trick called Multi Collision Braking, by automatically braking the car after a collision to minimise further injury risk.
But the MQB philosophy is not unique to the VW Group, because it already has the MLB (Modular Longitudinal System) for the A6 and A7, the Modular Standard System from Porsche and the new architecture beneath the SEAT Mii, the Skoda Citigo and the VW Up!
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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
UAE currency: the story behind the money in your pockets
The Perfect Couple
Starring: Nicole Kidman, Liev Schreiber, Jack Reynor
Creator: Jenna Lamia
Rating: 3/5
Timeline
2012-2015
The company offers payments/bribes to win key contracts in the Middle East
May 2017
The UK SFO officially opens investigation into Petrofac’s use of agents, corruption, and potential bribery to secure contracts
September 2021
Petrofac pleads guilty to seven counts of failing to prevent bribery under the UK Bribery Act
October 2021
Court fines Petrofac £77 million for bribery. Former executive receives a two-year suspended sentence
December 2024
Petrofac enters into comprehensive restructuring to strengthen the financial position of the group
May 2025
The High Court of England and Wales approves the company’s restructuring plan
July 2025
The Court of Appeal issues a judgment challenging parts of the restructuring plan
August 2025
Petrofac issues a business update to execute the restructuring and confirms it will appeal the Court of Appeal decision
October 2025
Petrofac loses a major TenneT offshore wind contract worth €13 billion. Holding company files for administration in the UK. Petrofac delisted from the London Stock Exchange
November 2025
180 Petrofac employees laid off in the UAE
Who has lived at The Bishops Avenue?
- George Sainsbury of the supermarket dynasty, sugar magnate William Park Lyle and actress Dame Gracie Fields were residents in the 1930s when the street was only known as ‘Millionaires’ Row’.
- Then came the international super rich, including the last king of Greece, Constantine II, the Sultan of Brunei and Indian steel magnate Lakshmi Mittal who was at one point ranked the third richest person in the world.
- Turkish tycoon Halis Torprak sold his mansion for £50m in 2008 after spending just two days there. The House of Saud sold 10 properties on the road in 2013 for almost £80m.
- Other residents have included Iraqi businessman Nemir Kirdar, singer Ariana Grande, holiday camp impresario Sir Billy Butlin, businessman Asil Nadir, Paul McCartney’s former wife Heather Mills.
Hunting park to luxury living
- Land was originally the Bishop of London's hunting park, hence the name
- The road was laid out in the mid 19th Century, meandering through woodland and farmland
- Its earliest houses at the turn of the 20th Century were substantial detached properties with extensive grounds
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Brief scores:
Day 2
England: 277 & 19-0
West Indies: 154
Coal Black Mornings
Brett Anderson
Little Brown Book Group