Float through any social event with M's fast facts. This week Rick Arthur looks at the history of the skyscraper, and at some of the innovative and famous designs in the UAE.
THE BASICS, PART ONE A skyscraper, we can agree, simplistically, is a tall building of many storeys - a very tall building, according to Oxford Dictionaries, employing the imprecise modifier. In fact, there are no official criteria on what qualifies a building as a skyscraper.
THE BASICS, PART TWO "Skyscraper" was first a nautical term meaning a small triangular sail above the skysail on a sailing ship. It was applied to buildings of steel-framed construction of at least 10 storeys in the late 19th century, when the public went bonkers at the amazing structures that were going up in such US cities as Chicago, New York, Detroit and St Louis.
THE BREAKTHROUGHS High-rise design and construction became possible thanks to several technological innovations in the late 1800s. Notable were the ability to mass produce steel, the invention of safe and efficient elevators, and the better techniques for measuring and analysing structural loads and stresses. Later, electric arc welding also made the building process easier and more efficient.
THE PINNACLE In 1931, the Empire State Building rose in New York City like a 381-metre exclamation point to the previous four decades of development. It would stay the world's tallest office building for 41 years, and provide a perch from which King Kong could swat at airplanes.
IN THE UAE Listing and describing all the iconic skyscrapers in the UAE would take up more space than the M magazine editor parsimoniously allots to the Instant Expert, so let's stick with the obvious three: the Burj Khalifa, the Burj Al Arab and the Aldar disc. Read on, and we'll hit some heights.
A TALL ACHIEVEMENT The magnificent centrepiece of Downtown Dubai, the Burj Khalifa soars more than 828 metres and more than 160 storeys. It is not only the tallest building in the world but also the planet's tallest structure and the tallest free-standing structure. Its light, music and water show is out of this world, and the view from the observation deck on the 124th floor is not to be missed. Oh, and Tom Cruise thinks dangling from the Burj is just dandy.
SAILING INTO HISTORY Shaped like a billowing sail and six years in the making, the 56-storey Burj Al Arab in Dubai put the UAE on the world map when it opened in 1999. The imposing and unmistakable tower that rises 321 metres over Al Sufouh is supported by 250 reinforced concrete pile foundations that were driven 40 metres into the seabed.
SLIM AND CIRCULAR The headquarters of the property developer Aldar in Al Raha Beach in Abu Dhabi rises 26 storeys in an improbable giant disc standing on its side. The spectacular building on a concrete plinth in the desert has more than 3,000 panes of glass.
ANOTHER UAE TITBIT The 77-storey Chrysler Building - the famed art deco New York icon that is one of the city's most admired landmarks - is 90 per cent owned by the Abu Dhabi Investment Council.
ONE MORE UAE TITBIT The 50-storey General Motors Building - another crown jewel of the Manhattan skyline - is 40 per cent owned by Meraas Capital, a Dubai private equity firm.
THE DISSENTING OPINION Skyscrapers, many environmentalists say, block sunlight, create unnatural updrafts, trap air pollution, and require vast amounts of energy and materials to build and operate. But since they're not going to suddenly disappear, make them as "green" as possible, says the eco-architect Ken Yeang.
'Skyscrapers' that are not buildings
THE POEM The US author Carl Sandburg lyrically captured the elevators, the tubes, the wires, the iron pipes, the girders and more as "the skyscraper looms in the smoke and sun and has a soul" in one of the offerings in Chicago Poems, his famous 1916 book.
THE SONG The American actress and pop singer Demi Lovato released this tearjerker in 2011. Part of the chorus: Go on and try to tear me down/I will be rising from the ground/Like a skyscraper, like a skyscraper.
THE ONLINE MAGAZINE Best known for its reviews of new music and interviews with artists, the zine also covers film, television, books, comics, visual art and more. Founded in 1998 and based in Boulder, Colorado in the US, it was a print quarterly until 2009.
THE FILM This 1996 cheesy rip-off of Die Hard starred the late Anna Nicole Smith (whose acting abilities ran the gamut from A to B) as a helicopter pilot. It went straight to video.
THE VIDEO GAMES There are several, including the wonderfully named Panic in the Skyscraper and Inside a Dead Skyscraper. The Instant Expert likes City Bloxx, included on many a mobile phone.
La Mer lowdown
La Mer beach is open from 10am until midnight, daily, and is located in Jumeirah 1, well after Kite Beach. Some restaurants, like Cupagahwa, are open from 8am for breakfast; most others start at noon. At the time of writing, we noticed that signs for Vicolo, an Italian eatery, and Kaftan, a Turkish restaurant, indicated that these two restaurants will be open soon, most likely this month. Parking is available, as well as a Dh100 all-day valet option or a Dh50 valet service if you’re just stopping by for a few hours.
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BIGGEST CYBER SECURITY INCIDENTS IN RECENT TIMES
SolarWinds supply chain attack: Came to light in December 2020 but had taken root for several months, compromising major tech companies, governments and its entities
Microsoft Exchange server exploitation: March 2021; attackers used a vulnerability to steal emails
Kaseya attack: July 2021; ransomware hit perpetrated REvil, resulting in severe downtime for more than 1,000 companies
Log4j breach: December 2021; attackers exploited the Java-written code to inflitrate businesses and governments
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
Cricket World Cup League 2
UAE squad
Rahul Chopra (captain), Aayan Afzal Khan, Ali Naseer, Aryansh Sharma, Basil Hameed, Dhruv Parashar, Junaid Siddique, Muhammad Farooq, Muhammad Jawadullah, Muhammad Waseem, Omid Rahman, Rahul Bhatia, Tanish Suri, Vishnu Sukumaran, Vriitya Aravind
Fixtures
Friday, November 1 – Oman v UAE
Sunday, November 3 – UAE v Netherlands
Thursday, November 7 – UAE v Oman
Saturday, November 9 – Netherlands v UAE
Other workplace saving schemes
- The UAE government announced a retirement savings plan for private and free zone sector employees in 2023.
- Dubai’s savings retirement scheme for foreign employees working in the emirate’s government and public sector came into effect in 2022.
- National Bonds unveiled a Golden Pension Scheme in 2022 to help private-sector foreign employees with their financial planning.
- In April 2021, Hayah Insurance unveiled a workplace savings plan to help UAE employees save for their retirement.
- Lunate, an Abu Dhabi-based investment manager, has launched a fund that will allow UAE private companies to offer employees investment returns on end-of-service benefits.
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.”
Read more about the coronavirus
Dunki
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Four-day collections of TOH
Day Indian Rs (Dh)
Thursday 500.75 million (25.23m)
Friday 280.25m (14.12m)
Saturday 220.75m (11.21m)
Sunday 170.25m (8.58m)
Total 1.19bn (59.15m)
(Figures in millions, approximate)
Ferrari
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Our legal consultant
Name: Dr Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
RACE CARD
6.30pm: Madjani Stakes Group 2 (PA) Dh97,500 (Dirt) 1,900m
7.05pm: Maiden (TB) Dh82,500 (D) 1,400m
7.40pm: Maiden (TB) Dh82,500 (D) 1,600m
8.15pm: Handicap (TB) Dh87,500 (D) 2,200m
8.50pm: Dubai Creek Mile Listed (TB) Dh132,500 (D) 1,600m
9.25pm: Conditions (TB) Dh120,000 (D) 1,900m
10pm: Handicap (TB) Dh92,500 (D) 1,400m
French business
France has organised a delegation of leading businesses to travel to Syria. The group was led by French shipping giant CMA CGM, which struck a 30-year contract in May with the Syrian government to develop and run Latakia port. Also present were water and waste management company Suez, defence multinational Thales, and Ellipse Group, which is currently looking into rehabilitating Syrian hospitals.
if you go
The flights
Direct flights from the UAE to the Nepalese capital, Kathmandu, are available with Air Arabia, (www.airarabia.com) Fly Dubai (www.flydubai.com) or Etihad (www.etihad.com) from Dh1,200 return including taxes. The trek described here started from Jomson, but there are many other start and end point variations depending on how you tailor your trek. To get to Jomson from Kathmandu you must first fly to the lake-side resort town of Pokhara with either Buddha Air (www.buddhaair.com) or Yeti Airlines (www.yetiairlines.com). Both charge around US$240 (Dh880) return. From Pokhara there are early morning flights to Jomson with Yeti Airlines or Simrik Airlines (www.simrikairlines.com) for around US$220 (Dh800) return.
The trek
Restricted area permits (US$500 per person) are required for trekking in the Upper Mustang area. The challenging Meso Kanto pass between Tilcho Lake and Jomson should not be attempted by those without a lot of mountain experience and a good support team. An excellent trekking company with good knowledge of Upper Mustang, the Annaurpuna Circuit and Tilcho Lake area and who can help organise a version of the trek described here is the Nepal-UK run Snow Cat Travel (www.snowcattravel.com). Prices vary widely depending on accommodation types and the level of assistance required.
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MOUNTAINHEAD REVIEW
Starring: Ramy Youssef, Steve Carell, Jason Schwartzman
Director: Jesse Armstrong
Rating: 3.5/5
Buy farm-fresh food
The UAE is stepping up its game when it comes to platforms for local farms to show off and sell their produce.
In Dubai, visit Emirati Farmers Souq at The Pointe every Saturday from 8am to 2pm, which has produce from Al Ammar Farm, Omar Al Katri Farm, Hikarivege Vegetables, Rashed Farms and Al Khaleej Honey Trading, among others.
In Sharjah, the Aljada residential community will launch a new outdoor farmers’ market every Friday starting this weekend. Manbat will be held from 3pm to 8pm, and will host 30 farmers, local home-grown entrepreneurs and food stalls from the teams behind Badia Farms; Emirates Hydroponics Farms; Modern Organic Farm; Revolution Real; Astraea Farms; and Al Khaleej Food.
In Abu Dhabi, order farm produce from Food Crowd, an online grocery platform that supplies fresh and organic ingredients directly from farms such as Emirates Bio Farm, TFC, Armela Farms and mother company Al Dahra.