• Yas Marina Circuit's signature canopies get a clean. All photos: Yas Marina Circuit
    Yas Marina Circuit's signature canopies get a clean. All photos: Yas Marina Circuit
  • Yas Marina Circuit's operations tower - they've got their eye on you
    Yas Marina Circuit's operations tower - they've got their eye on you
  • A crew ensures the canopies are pristine
    A crew ensures the canopies are pristine
  • No mere brooms required here
    No mere brooms required here
  • A worker fills in Yas's signature blue trackside decorations
    A worker fills in Yas's signature blue trackside decorations
  • The UAE flag on one of the track's grassed viewing areas
    The UAE flag on one of the track's grassed viewing areas
  • Workers ensure the circuit's safety barriers are up to muster
    Workers ensure the circuit's safety barriers are up to muster
  • Just so you don't forget where you are
    Just so you don't forget where you are

Abu Dhabi Grand Prix 2023: Final preparations under way for F1 finale


Simon Wilgress-Pipe
  • English
  • Arabic

Preparations for the 2023 Etihad Airways Abu Dhabi Grand Prix are nearing completion, before the event kicks off in earnest on Thursday.

Despite the venue being in use all year round, teams have been out in force to get Yas Marina Circuit looking pristine and ready to welcome the tens of thousands who will descend on the island venue for the event.

To this end, a dedicated team of cleaning and maintenance specialists, painters, gardeners and technical experts have been sprucing up the 5.28km track, its grandstands, the fan zones and hospitality spaces, and landscaped areas.

Improvements include a new LED lighting system that will improve efficiency by more than a third and reduce electricity use by nearly a quarter.

The circuit’s near 90 acres of landscaped areas have been given an extra 2.5 acres of seasonal flowers, as well as more than 1,750 different kinds of foliage. These include 886 varieties of palm trees and 529 potted plants.

In the pit lane and paddocks, logistics specialists have been managing the arrival of everything required for the weekend’s activities.

The fact the track is surrounded by sea makes this challenge all the more onerous, as anyone who has had to oversee the shifting of large amounts of kit via a handful of entry and exit points will attest.

All this is being shifted around by 65 forklift trucks.

Ongoing throughout the weekend, safety experts will inspect every part of the track.

And when the racing teams arrive, they will be using 227 rooms with more than 3,000 pieces of furniture, fixtures and fittings.

Practice begins on Friday and marks the culmination of a 23-event season in motorsport’s biggest tournament.

The season is already in the bag for Red Bull's Max Verstappen, but commentators are predicting little let up when the cars finally start their engines on Sunday.

match details

Wales v Hungary

Cardiff City Stadium, kick-off 11.45pm

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

MATCH INFO

Uefa Champions League semi-final, first leg
Bayern Munich v Real Madrid

When: April 25, 10.45pm kick-off (UAE)
Where: Allianz Arena, Munich
Live: BeIN Sports HD
Second leg: May 1, Santiago Bernabeu, Madrid

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How to watch Ireland v Pakistan in UAE

When: The one-off Test starts on Friday, May 11
What time: Each day’s play is scheduled to start at 2pm UAE time.
TV: The match will be broadcast on OSN Sports Cricket HD. Subscribers to the channel can also stream the action live on OSN Play.

Skoda Superb Specs

Engine: 2-litre TSI petrol

Power: 190hp

Torque: 320Nm

Price: From Dh147,000

Available: Now

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The specs: 2018 Maxus T60

Price, base / as tested: Dh48,000

Engine: 2.4-litre four-cylinder

Power: 136hp @ 1,600rpm

Torque: 360Nm @ 1,600 rpm

Transmission: Five-speed manual

Fuel consumption, combined: 9.1L / 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.”

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Updated: November 22, 2023, 2:56 AM