The plan, announced last month, to build a new mini-city called Mamoura located between Abu Dhabi and Dubai raised the question for a few historically minded people of what landline number prefix such a place might be assigned. Under the current system, which dates back more than 50 years, Abu Dhabi uses the 02 prefix for landlines, Al Ain has 03, for Dubai it is 04 and 05 is for mobile numbers. Three emirates further north use 06, and so on.
The missing number prior to this sequence, 01, was originally reserved for the planned construction of the city of Karama, a development between Dubai and Abu Dhabi envisaged in the early 1970s period of nation-building. But the Karama project never moved beyond the drawing board and 01 has been vacant ever since, putting the new, not-quite-midpoint city potentially in the frame for the designation.
Mamoura was described as a $15 billion "full-scale small city" in the making by Mira Developments, who say the plan is to deliver more than 16,000 apartments and villas, as well as hotels, a mall, hospital, museums, schools and universities to a site that could almost be seen as a bridge between the two emirates. The developer told The National it was “the best location” in the whole of the UAE.
The 01 prefix question is best answered by saying "it doesn’t matter", because landlines are not the first thing that spring to mind when considering a city of the future and, more prosaically, by saying probably not. Given the geography, Mamoura (or inhabited land) is most likely to be assigned 02 as location maps place it well within Abu Dhabi emirate’s borders.
But the deeper point about what the idea of a city situated between Abu Dhabi and Dubai used to mean, and what it might signify now, is moot. In particular, because one day in the future there will be a near unbroken settlement along the length of the Abu Dhabi-Dubai road, a situation unimaginable in the past.
These days commuters move quickly between the two emirates on a multi-lane highway with plenty passing them by on the sides of the roads, but it wasn’t always so. The foundation years of the country were characterised by the transformation of that route from sand track to paved road. It wasn’t until the end of the 1980s that the single tarmac carriageway that bore transport between Abu Dhabi and Dubai was widened to two lanes. Formal rest stops, barriers and further carriageway improvements were to follow, making it into the vital arterial road we know today.
Even 15 years ago, drivers may have mentally mapped the route by Shahama, outside Abu Dhabi, as the point beyond which sand, scrub and trees largely take over, but those old assumptions and, perhaps, false memories no longer hold.
Similarly, Dubai seems to stretch further south with every passing year. Where once Last Exit food truck park, soon to be 10 years old, felt like a particularly clever piece of nominative determinism signalling a far-flung outpost of the city, now it might be said to be a little more wistful in its naming convention and modern reality.
Population growth in the UAE demands these solutions
A lot of discussion about urban development has recently focused on the idea of the 20-minute city, where the majority of a resident’s daily needs – these might be offices, shops and amenities – are within easy reach and without the need for a car. Certainly, the concept supporting Mamoura as a full-scale small city sits within that framework. So too, does the "smart and sustainable city" plan in nearby Ghantoot, close to the border between the emirates of Dubai and Abu Dhabi, and the works to transform the Expo 2020 site into a residential community.
Population growth in the UAE demands these solutions. Statistics Centre Abu Dhabi reported earlier this year that the emirate’s population is now more than four million and that the workforce had grown by 9 per cent in the past year. Dubai’s population has doubled in the past decade and a half and is now more than four million, too. Both numbers, as well as a strong economic outlook for the UAE, suggest a complex puzzle needs to be solved, with more and more people wanting to move to the country and seeing their long-term future within its borders. That requires more supply of housing, amenities and infrastructure.
A generation ago, the answer to the urgency of population growth might have been to conceptualise in terms of mega-projects - the construction equivalent of the Olympic "faster, higher, stronger" clarion call. Now, it may be in the smaller "full-scale" solutions or 20-minute cities.
Another generation back from that, a midway development between the two large emirates may have been the bridge to our collective future, now it is a series of smaller connected but discrete communities built with the possibility of AI powering solutions to create opportunities, cut red tape and deliver smarter living. Perhaps that future will also dial in some new telephone number prefixes to whatever the next-generation equivalent of a landline may be.
The natural agility of the UAE, combined with the forward-looking nature of policy-making means solutions are always within touching distance and sometimes provides the most intriguing glimpse of the future.
This week, for instance, the joint declaration issued by President Sheikh Mohamed and Lee Jae Myung, South Korean President, during the latter’s state visit to the UAE, included details related to the “establishment of a UAE K-City” as a symbol of bilateral co-operation and a site that intends to fuse the best of culture, business and food. Now, that sounds like a city of today and tomorrow.
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.”
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
RESULTS
5pm: Wathba Stallions Cup – Maiden (PA) Dh70,000 (Dirt) 1,400m
Winner: Yas Xmnsor, Sean Kirrane (jockey), Khalifa Al Neyadi (trainer)
5.30pm: Falaj Hazza – Handicap (PA) Dh70,000 (D) 1,600m
Winner: Arim W’Rsan, Dane O’Neill, Jaci Wickham
6pm: Al Basrah – Maiden (PA) Dh70,000 (D) 1,800m
Winner: Kalifano De Ghazal, Abdul Aziz Al Balushi, Helal Al Alawi
6.30pm: Oud Al Touba – Handicap (PA) Dh70,000 (D) 1,800m
Winner: Pharitz Oubai, Sean Kirrane, Ibrahim Al Hadhrami
7pm: Sieh bin Amaar – Conditions (PA) Dh80,000 (D) 1,800m
Winner: Oxord, Richard Mullen, Abdalla Al Hammadi
7.30pm: Jebel Hafeet – Conditions (PA) Dh85,000 (D) 2,000m
Winner: AF Ramz, Sean Kirrane, Khalifa Al Neyadi
8pm: Al Saad – Handicap (TB) Dh70,000 (D) 2,000m
Winner: Sea Skimmer, Gabriele Malune, Kareem Ramadan
AUSTRALIA%20SQUAD
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Desert Warrior
Starring: Anthony Mackie, Aiysha Hart, Ben Kingsley
Director: Rupert Wyatt
Rating: 3/5
Countries recognising Palestine
France, UK, Canada, Australia, Portugal, Belgium, Malta, Luxembourg, San Marino and Andorra
More on Quran memorisation:
HEADLINE HERE
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Tamkeen's offering
- Option 1: 70% in year 1, 50% in year 2, 30% in year 3
- Option 2: 50% across three years
- Option 3: 30% across five years
Federer's 19 grand slam titles
Australian Open (5 titles) - 2004 bt Marat Safin; 2006 bt Marcos Baghdatis; 2007 bt Fernando Gonzalez; 2010 bt Andy Murray; 2017 bt Rafael Nadal
French Open (1 title) - 2009 bt Robin Soderling
Wimbledon (8 titles) - 2003 bt Mark Philippoussis; 2004 bt Andy Roddick; 2005 bt Andy Roddick; 2006 bt Rafael Nadal; 2007 bt Rafael Nadal; 2009 bt Andy Roddick; 2012 bt Andy Murray; 2017 bt Marin Cilic
US Open (5 titles) - 2004 bt Lleyton Hewitt; 2005 bt Andre Agassi; 2006 bt Andy Roddick; 2007 bt Novak Djokovic; 2008 bt Andy Murray
Roll of honour: Who won what in 2018/19?
West Asia Premiership: Winners – Bahrain; Runners-up – Dubai Exiles
UAE Premiership: Winners – Abu Dhabi Harlequins; Runners-up – Jebel Ali Dragons
Dubai Rugby Sevens: Winners – Dubai Hurricanes; Runners-up – Abu Dhabi Harlequins
UAE Conference: Winners – Dubai Tigers; Runners-up – Al Ain Amblers
RESULTS
1.45pm: Maiden Dh75,000 1,200m
Winner: Lady Parma, Richard Mullen (jockey), Satish Seemar (trainer).
2.15pm: Maiden Dh75,000 1,200m
Winner: Tabernas, Connor Beasley, Ahmed bin Harmash.
2.45pm: Handicap Dh95,000 1,200m
Winner: Night Castle, Connor Beasley, Satish Seemar.
3.15pm: Handicap Dh120,000 1,400m
Winner: Mystique Moon, Sam Hitchcott, Doug Watson.
3.45pm: Handicap Dh80,000 1,400m
Winner: Mutawakked, Szczepan Mazur, Musabah Al Muhairi.
4.15pm: Handicap Dh90,000 1,800m
Winner: Tafaakhor, Sandro Paiva, Ali Rashid Al Raihe.
4.45pm: Handicap Dh80,000 1,950m
Winner: Cranesbill, Fabrice Veron, Erwan Charpy.
SERIES INFO
Afghanistan v Zimbabwe, Abu Dhabi Sunshine Series
All matches at the Zayed Cricket Stadium, Abu Dhabi
Test series
1st Test: Zimbabwe beat Afghanistan by 10 wickets
2nd Test: Wednesday, 10 March – Sunday, 14 March
Play starts at 9.30am
T20 series
1st T20I: Wednesday, 17 March
2nd T20I: Friday, 19 March
3rd T20I: Saturday, 20 March
TV
Supporters in the UAE can watch the matches on the Rabbithole channel on YouTube