The Buhais Geology Park Interpretive Centre in Sharjah opened last year. Picture courtesy of Hopkins Architects
The Buhais Geology Park Interpretive Centre in Sharjah opened last year. Picture courtesy of Hopkins Architects
The Buhais Geology Park Interpretive Centre in Sharjah opened last year. Picture courtesy of Hopkins Architects
The Buhais Geology Park Interpretive Centre in Sharjah opened last year. Picture courtesy of Hopkins Architects


Seeing the Emirates through the eyes of a first-time visitor


  • English
  • Arabic

October 20, 2021

Last week, I had the rare opportunity of introducing a first-time visitor to the Emirates. Not just to big cities, but across the country, traversing deserts and gravel plains and over the mountains, from coast to coast. In so doing, I have viewed the country afresh and observing it alongside my visitor, I have shared, to some extent, in the surprises.

The visitor, Senator John Le Fondré, Chief Minister of the British Channel Island of Jersey, my other home, was visiting for a few days to bolster the existing UAE-Jersey relationship and to see whether there might be scope for diversification into different fields, away from the well-trod path of financial services.

Beginning in Dubai, our first port of call, naturally, was Expo 2020 Dubai, with two objectives in mind. One was a number of meetings with senior UAE government officials, to discuss the nitty-gritty details of bilateral collaboration. Without divulging any details, it is fair to say that amongst the topics were some of the very latest innovations in financial services at a global level, very much something in which both the UAE and Jersey are international leaders.

The other was to take a quick look at a small selection of the national pavilions on show, including, of course, the UAE Pavilion. Here, I learnt an important lesson.

It was easy for me, a long-time resident of the Emirates with some knowledge of the country’s history and heritage, to find little points to criticise about the presentation. Senator Le Fondré, by comparison, for whom everything was fresh, found the architecture and the audio-visual presentation to be remarkably impressive, giving a rapid glimpse of the modern Emirates. Being too close to something, or too familiar with it, we agreed, provides a very different view. A visitor’s perspective is not necessarily the same as that of a resident.

From the innovative ideas portrayed at the Expo, not just at the UAE Pavilion, but in others which we visited, we moved to the modernity of Dubai, with its high-rise buildings, plush hotels, freeways and the like, evidence of the stage of development reached by this global commercial hub. I have observed its growth for over four decades, so it’s no surprise to me. For my visitor, though, it was visible evidence of the way in which this part of the UAE is on a par with other major global cities.

Jersey, Channel Islands. Nick Fewings/ Unsplash
Jersey, Channel Islands. Nick Fewings/ Unsplash
The Khorfakan beach area in Fujairah, UAE. Satish Kumar / The National
The Khorfakan beach area in Fujairah, UAE. Satish Kumar / The National

The next stop was at the Buhais Geology Park near Mleiha, the rolling sand-dunes of the desert dividing it from the Dubai-Sharjah conurbation. Here we went into a different world. The buildings of the park are designed to sit quietly and unobtrusively in the ancient landscape of the crags of Jebel Buhais.

The interpretative centre, managed by Sharjah’s Environment and Protected Areas Authority (EPAA), aims through film and interactive displays to explain something of the remarkable and fascinating geology of the area, dating back over 65 million years.

In Fujairah, a highlight for my visitor, we visited a modern hi-tech dairy farm, complete with pedigree Jersey cows, signifying a direct link between the Emirates and Jersey

Designed to provide an educational experience, for young and old alike, the buildings are linked to an outdoor trail past fossils protruding from the rocks and fascinating archaeological sites.

For a first-time visitor, the dramatic landscape provides an impressive contrast to the dunes and the big cities on the coast that lie beyond them. This geology park, moreover, displays not only the EPAA’s desire to protect the landscape, but also its determination to educate people about it. That commitment was certainly taken on board by my visitor, since the concept of a possible Geopark is also something being examined at home in Jersey. The Buhais Park has offered some useful thoughts.

From Buhais, we went over the mountains to Fujairah, a fairly frequent trip for me. Most first-time visitors like Senator Le Fondré, though, arrive here expecting sun, sea and sand and magnificent modern cities, with world-class shopping opportunities and a thriving business community. Rugged mountains, with glimpses of little farms in the wadis with their terraced fields, are generally a bit of a surprise, helping to give a slightly more complete idea of the Emirates as a whole.

And then in Fujairah, a highlight for my visitor, we visited a modern hi-tech dairy farm, complete with pedigree Jersey cows, signifying a direct link between the Emirates and Jersey. For a change, this link was not in the usual field of financial services but in agriculture, a small but important component in the diversified economies of both countries. One topic of conversation here was whether there was scope for Fujairah to join Jersey in an innovative and highly successful programme to increase milk yields for dairy farmers in sub-Saharan Africa.

It was, all in all, a thought-provoking visit. I have definitely benefited from trying to see the Emirates through the eyes of a first-time visitor. Going from Expo’s aspirations for the future to the modernity of Dubai and then over the deserts to mountains full of fossils and to hi-tech agriculture has reminded me of the country’s diversity and ancient heritage. It has reminded me, too, of the variety we have to offer for those overseas seeking to build closer ties with us. I must do it more often.

SPEC%20SHEET%3A%20APPLE%20M3%20MACBOOK%20AIR%20(13%22)
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RESULTS

2.15pm Maiden (PA) Dh40,000 (Dirt) 1,200m

Winner Shawall, Abdul Aziz Al Balushi (jockey), Majed Al Jahouri (trainer)

2.45pm Handicap (PA) Dh40,000 (D) 1,200m

Winner Anna Bella Aa, Fabrice Veron, Abdelkhir Adam

3.15pm Handicap (PA) Dh40,000 (D) 1,200m

Winner AF Thayer, Tadhg O’Shea, Ernst Oertel

3.45pm Handicap (PA) Dh40,000 (D) 1,700m

Winner Taajer, Fabrice Veron, Eric Lemartinel

4.15pm The Ruler of Sharjah Cup – Prestige (PA) Dh250,000 (D) 1,700m

Winner Jawaal, Jim Crowley, Majed Al Jahouri

4.45pm Handicap (TB) Dh40,000 (D) 2,000m

Winner Maqaadeer, Jim Crowley, Doug Watson

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%3Cp%3E%3Cstrong%3EAuthor%3A%20%3C%2Fstrong%3ESam%20Ottewill-Soulsby%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EPublisher%3A%20%3C%2Fstrong%3EPrinceton%20University%20Press%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EPages%3A%20%3C%2Fstrong%3E392%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EAvailable%3A%20%3C%2Fstrong%3EJuly%2011%3C%2Fp%3E%0A

The flights: South African Airways flies from Dubai International Airport with a stop in Johannesburg, with prices starting from around Dh4,000 return. Emirates can get you there with a stop in Lusaka from around Dh4,600 return.
The details: Visas are available for 247 Zambian kwacha or US$20 (Dh73) per person on arrival at Livingstone Airport. Single entry into Victoria Falls for international visitors costs 371 kwacha or $30 (Dh110). Microlight flights are available through Batoka Sky, with 15-minute flights costing 2,265 kwacha (Dh680).
Accommodation: The Royal Livingstone Victoria Falls Hotel by Anantara is an ideal place to stay, within walking distance of the falls and right on the Zambezi River. Rooms here start from 6,635 kwacha (Dh2,398) per night, including breakfast, taxes and Wi-Fi. Water arrivals cost from 587 kwacha (Dh212) per person.

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.”

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

The specs: 2019 Audi A7 Sportback

Price, base: Dh315,000

Engine: 3.0-litre V6

Transmission: Seven-speed automatic

Power: 335hp @ 5,000rpm

Torque: 500Nm @ 1,370rpm

Fuel economy 5.9L / 100km

The specs
 
Engine: 3.0-litre six-cylinder turbo
Power: 398hp from 5,250rpm
Torque: 580Nm at 1,900-4,800rpm
Transmission: Eight-speed auto
Fuel economy, combined: 6.5L/100km
On sale: December
Price: From Dh330,000 (estimate)
Updated: November 01, 2021, 12:26 PM