The planned expansion of the Wimbledon site. Photo: AELTC
The planned expansion of the Wimbledon site. Photo: AELTC
The planned expansion of the Wimbledon site. Photo: AELTC
The planned expansion of the Wimbledon site. Photo: AELTC

Wimbledon expansion plans approved with 'very significant benefits' expected


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The All England Lawn Tennis Club, hosts of the Wimbledon championships, has received the green light for a massive expansion project by the Greater London Authority despite strong opposition.

The plan for 39 new grasscourts, including a 8,000-seater show court, is expected to transform adjacent open land including a golf course and Wimbledon park.

At a public hearing at City Hall on Friday, Jules Pipe, Deputy Mayor for Planning, Regeneration and the Fire Service, said the scheme would keep the Wimbledon championships as the world's pre-eminent tournament and would provide "significant benefits" to the local area.

Plans were first submitted in 2021, but there had been strong local opposition from groups such as 'Save Wimbledon Park' and environmental activists who claimed the harm caused to open land was not justified.

The issue had become increasingly acrimonious, but Friday's decision was expected after Greater London Authority planning officers recommended permission be granted due to the financial and community benefits.

The new Wimbledon site is expected to host the qualifying tournament as well. Photo: AELTC
The new Wimbledon site is expected to host the qualifying tournament as well. Photo: AELTC

"In summary, the proposed development would facilitate very significant benefits," Pipe said. "I agree with my officers that these benefits clearly outweigh the harm."

Central to Wimbledon's case has been the desire to hold its qualifying competition, which is currently staged over three miles away in Roehampton, on its own land.

All England Club chair Debbie Jevans said: "We are delighted that the Greater London Authority has resolved to approve our applications to transform the former Wimbledon Park golf course.

"Our proposals will deliver 27 acres of newly accessible parkland for the community and enable us to bring the qualifying competition for The Championships onsite, with all of the substantial economic and employment opportunities this presents."

Protesters assembled outside City Hall ahead of the hearing on Friday and a number spoke in the chamber during a morning session lasting more than three hours.

People took part in a demonstration outside City Hall, London, where a public hearing was held on expansion plans by the All England Club. PA
People took part in a demonstration outside City Hall, London, where a public hearing was held on expansion plans by the All England Club. PA

The Mayor of London's office took charge of the application in January after Merton Council approved the plans and Wandsworth Council rejected them late last year.

Mayor Sadiq Khan recused himself from the process having previously expressed public support for the development, leaving the matter in Pipe's hands.

Fleur Anderson, the MP for Putney, claimed allowing the scheme would set "a dangerous London-wide and national precedent".

But Jevans said: "We look forward to working with all parties to bring this vision to life, delivering one of London's greatest sporting transformations since the 2012 Games and securing Wimbledon's future at the pinnacle of world sport."

If you go

Flights

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The stay

Rooms at Alila Villas Koh Russey (www.alilahotels.com/ kohrussey) cost from $385 per night including taxes.

Dubai World Cup factbox

Most wins by a trainer: Godolphin’s Saeed bin Suroor(9)

Most wins by a jockey: Jerry Bailey(4)

Most wins by an owner: Godolphin(9)

Most wins by a horse: Godolphin’s Thunder Snow(2)

Wenger's Arsenal reign in numbers

1,228 - games at the helm, ahead of Sunday's Premier League fixture against West Ham United.
704 - wins to date as Arsenal manager.
3 - Premier League title wins, the last during an unbeaten Invincibles campaign of 2003/04.
1,549 - goals scored in Premier League matches by Wenger's teams.
10 - major trophies won.
473 - Premier League victories.
7 - FA Cup triumphs, with three of those having come the last four seasons.
151 - Premier League losses.
21 - full seasons in charge.
49 - games unbeaten in the Premier League from May 2003 to October 2004.

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: September 28, 2024, 8:51 AM