A labourer working at a UAE farm. Victor Besa/The National
A labourer working at a UAE farm. Victor Besa/The National
A labourer working at a UAE farm. Victor Besa/The National
A labourer working at a UAE farm. Victor Besa/The National

The future of farming may lie in the UAE desert


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The world’s largest indoor farm is set to be built in the Abu Dhabi desert. The GreenFactory Emirates is an ambitious farming project housing a 7.5-hectare plot with a cultivation area spanning 160,000 square metres. The record-breaking indoor farm is “instrumental” to the UAE’s drive to boost local agriculture and improve its food security, according to Mariam Al Mheiri, Minister of State for Food Security. It is also key to developing more “sustainable food systems” in the Emirates.

Launched by Abu Dhabi's RainMaker Capital Investment in partnership with Dutch company GrowGroup IFS, the project has set an ambitious goal: to produce 10,000 tonnes of food each year. The high-technology facility will house an indoor growing system combining vertical and flat farming to grow fruits and vegetables in an arid climate.

Not only will the farm be designed to grow many tonnes of food in the desert, the project is also more eco-friendly than traditional farming. Its advanced methods can reduce water consumption by an impressive 95 per cent and cut carbon footprint by 40 per cent.

Investing in agriculture is crucial for any country striving for self-reliance and food security. Last month, Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, said the Covid-19 pandemic had pushed the country to make its food and water security strategy a top priority.

The UAE has harnessed the power of technology to grow food locally for quite some time. Developing the agritech industry has become all the more important today as global supply chains are disrupted by Covid-19 restrictions and an economic recession, driving demand for local or regional goods.

GreenFactory Emirates is only the latest agriculture feat to take root in the UAE. Earlier this year, Abu Dhabi Investment Office launched a $100 million fund to develop agritech in the country. Staple vegetables such as tomatoes and potatoes, which normally cannot grow in a desert climate, are now locally produced and widely available in supermarkets all over the UAE.

Gulf countries have had unexpected success stories when it comes to local agriculture. Saudi Arabia for instance, has developed a dairy industry that is renowned in the region.

Desert agriculture has become a reality thanks to experts from all four corners of the world. International co-operation is a driver for agritech in the Gulf, even as countries look to grow their food and produce goods more locally. For instance, the Netherlands' embassy played an important role in bringing together the two businesses behind GreenFactory Emirates.

Desert agriculture has become a reality thanks to experts from all four corners of the world

"We hope to intensify our co-operation with the UAE to further develop the local agriculture ecosystem," Dutch ambassador to the UAE Lody Embrechts told The National.

Another project combining international expertise with local talent was announced in June. UAE scientists and South Korean experts plan to grow rice in the Sharjah deserts.

The UAE is renowned for breaking boundaries in all sectors, including science and innovation. In the past year alone, the nation has sent an astronaut to space and launched the Middle East’s first civilian nuclear programme. The Emirates continues to invest massively in local agriculture – and is already reaping results in produce. Emirati agritech is proof that with good will, hard work and a long-term vision, nothing is impossible.

RESULT

Chelsea 2

Willian 13'

Ross Barkley 64'

Liverpool 0

The specs

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Torque: 405Nm at 1,750-3,500rpm

Transmission: 9-speed auto

Fuel consumption: 6.9L/100km

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The specs

Engine: 2.9-litre twin-turbo V6

Power: 540hp at 6,500rpm

Torque: 600Nm at 2,500rpm

Transmission: Eight-speed auto

Kerb weight: 1580kg

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On sale: via special order

Pharaoh's curse

British aristocrat Lord Carnarvon, who funded the expedition to find the Tutankhamun tomb, died in a Cairo hotel four months after the crypt was opened.
He had been in poor health for many years after a car crash, and a mosquito bite made worse by a shaving cut led to blood poisoning and pneumonia.
Reports at the time said Lord Carnarvon suffered from “pain as the inflammation affected the nasal passages and eyes”.
Decades later, scientists contended he had died of aspergillosis after inhaling spores of the fungus aspergillus in the tomb, which can lie dormant for months. The fact several others who entered were also found dead withiin a short time led to the myth of the curse.

Labour dispute

The insured employee may still file an ILOE claim even if a labour dispute is ongoing post termination, but the insurer may suspend or reject payment, until the courts resolve the dispute, especially if the reason for termination is contested. The outcome of the labour court proceedings can directly affect eligibility.


- Abdullah Ishnaneh, Partner, BSA Law 

ICC T20 Team of 2021

Jos Buttler, Mohammad Rizwan, Babar Azam, Aiden Markram, Mitchell Marsh, David Miller, Tabraiz Shamsi, Josh Hazlewood, Wanindu Hasaranga, Mustafizur Rahman, Shaheen Afridi

A Bad Moms Christmas
Dir: John Lucas and Scott Moore
Starring: Mila Kunis, Kathryn Hahn, Kristen Bell, Susan Sarandon, Christine Baranski, Cheryl Hines
Two stars

HWJN
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THE BIO

Age: 30

Favourite book: The Power of Habit

Favourite quote: "The world is full of good people, if you cannot find one, be one"

Favourite exercise: The snatch

Favourite colour: Blue

The specs: 2018 Nissan 370Z Nismo

The specs: 2018 Nissan 370Z Nismo
Price, base / as tested: Dh182,178
Engine: 3.7-litre V6
Power: 350hp @ 7,400rpm
Torque: 374Nm @ 5,200rpm
Transmission: Seven-speed automatic
​​​​​​​Fuel consumption, combined: 10.5L / 100km

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.”

The Perfect Couple

Starring: Nicole Kidman, Liev Schreiber, Jack Reynor

Creator: Jenna Lamia

Rating: 3/5