Panama will be home to the world's first community of floating SeaPods, with the inaugural pod now in the water at Linton Bay Marina in Colon.
Ocean Builders, a company specialising in innovative marine technology, has officially launched what it says are the first floating eco-restorative pod homes in the world.
Perched three metres above sea level on the Caribbean coast of Panama, the futuristic units are designed to accommodate two people and are on sale now, with prices ranging from $295,000 to $1.5 million.
By December, the first overnight guests will be able to bed down in the pods, and 100 fully-owned units will be ready for full-time residents by summer next year.
A second batch of more than 1,000 of the pods will go into production next year.
Designed by Dutch architect Koen Olthuis, the futuristic SeaPods are geared toward climate-conscious travellers who want to live on the water, but don’t want to give up the luxuries of modern living.
Futuristic living on the water from $295,000
With minimalist decor, curved walls and an ultra-sleek design, the SeaPod flagship model looks like something from The Jetsons. It is spread over 77 square metres of space that's split across three levels.
There's a master bedroom with epic views, a living room and kitchen, a bathroom and an outdoor patio. Wraparound panoramic windows give residents 360-degree unobstructed ocean views.
Wooden teak flooring, colour-changing lights and wireless charging stations are available in each SeaPod, which also comes with automated black-out blinds and sliding panel windows.
Entirely customisable, there's the option to add climbing walls, greenhouses, skylights, hot tubs and patio gardens.
Cutting-edge technology is at the heart of Panama's newest waterfront destination, with each pod using software to control lighting, internal air temperature, water pressure and more.
Guests wear a smart ring that can be used to control technology settings, as well as being used to unlock doors, open windows and turn on music and mood lighting. Wireless charging stations are built into several of the pod's surfaces so that chargers and wires for phones become a thing of the past.
Daily drone delivery and new marine habitats
Daily essentials such as groceries and medicine are flown in by drones that have been designed to easily withstand open ocean conditions. Self-driving boats remove rubbish, compost and recycling and, when they're not on duty, work to clean up the surrounding ocean waters by expelling trash to help mitigate human impact on the ocean even beyond the community.
Sustainability is a key focus for Ocean Builders and pods are designed to be respectful of their surrounding environment.
The pods have been designed to become marine habitats for fish and other creatures, and artificial intelligence cameras will monitor what goes on beneath the waves. Marine detection technology is available to alert pod residents when dolphins, whales or their other favourite sea creatures are nearby.
Ocean Builders officially launched three models on Monday. They include the original SeaPod, the GreenPod for land living and the EcoPod, a more affordable option of each version.
The single-level SeaPod Eco is slightly smaller than the flagship version and laid out on a single floor, but includes the same principles, technology options and customisable design features.
RESULTS
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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.”
Innotech Profile
Date started: 2013
Founder/CEO: Othman Al Mandhari
Based: Muscat, Oman
Sector: Additive manufacturing, 3D printing technologies
Size: 15 full-time employees
Stage: Seed stage and seeking Series A round of financing
Investors: Oman Technology Fund from 2017 to 2019, exited through an agreement with a new investor to secure new funding that it under negotiation right now.
Persuasion
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Company profile
Company name: Dharma
Date started: 2018
Founders: Charaf El Mansouri, Nisma Benani, Leah Howe
Based: Abu Dhabi
Sector: TravelTech
Funding stage: Pre-series A
Investors: Convivialite Ventures, BY Partners, Shorooq Partners, L& Ventures, Flat6Labs
Bio:
Favourite Quote: Prophet Mohammad's quotes There is reward for kindness to every living thing and A good man treats women with honour
Favourite Hobby: Serving poor people
Favourite Book: The Alchemist by Paulo Coelho
Favourite food: Fish and vegetables
Favourite place to visit: London
The biog
Name: Timothy Husband
Nationality: New Zealand
Education: Degree in zoology at The University of Sydney
Favourite book: Lemurs of Madagascar by Russell A Mittermeier
Favourite music: Billy Joel
Weekends and holidays: Talking about animals or visiting his farm in Australia
MATCH INFO
Uefa Champions League semi-final, first leg
Barcelona v Liverpool, Wednesday, 11pm (UAE).
Second leg
Liverpool v Barcelona, Tuesday, May 7, 11pm
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