Farmers and engineers at a Sharjah farm are getting ready to welcome the first harvest of an enterprising wheat project.
Harvesting machines will assemble at the fields in March, collecting the matured crops.
The National visited the 400-hectare complex, about the size of 500 football pitches, in Mleiha. The project is being handled by the department of agriculture and livestock in Sharjah.
We are expecting the harvesting date to be any time between March 15 and 20
Dr Khalifa Musabeh Ahmed Alteneiji,
Chairman of the Department of Agriculture and Livestock
The first phase of the farm was opened in November by Sheikh Dr Sultan bin Muhammad Al Qasimi, Ruler of Sharjah, as machine operators drove on the fields disseminating seeds. In four months, the desert land at the base of rocky mountains has been transformed into a green oasis, ready to yield up to 1,700 tonnes of wheat.
“We are expecting the harvesting date to be any time between March 15 and 20,” said Dr Khalifa Musabeh Ahmed Alteneiji, Chairman of the Department of Agriculture and Livestock.
“The wheat will be going to the local market here in Sharjah and UAE.”
The crop has been grown without the use of pesticides, chemicals or genetically modified seeds. After harvest, it will be sent to mills for processing to make the wheat edible.
“We are expecting that the products will be available in the market in May or June,” Dr Alteneiji said.
The aim is to reach a total area of 1,900 hectares in phases.
Dr Alteneiji explained the importance of growing the crop in a country that imports 1.7 million tonnes of wheat.
“Wheat is a strategic commodity with high nutritional value that can be stored for a long time,” he said.
“During the Covid-19 pandemic and the war between Russia and Ukraine, the world faced some problems in the provision of wheat and food supply chains. From that perspective, we received directives from Sheikh Dr Sultan bin Muhammad Al Qasimi, the Ruler of Sharjah, to start this farm.”
When teams collected the soil sample for analysis, they realised that the land in Mleiha provided the most suitable conditions in the emirate to grow wheat, he added.
AI-based systems
The farm is equipped with state-of-the-art technology, which includes soil sensors as well as satellites that perform thermal imaging of the site. The sensors can measure the quantity of water in the soil to avoid wastage.
The farm also has an on-site weather station that can predict temperature, wind speed and humidity for up to 48 hours. If rain is forecast, the farm cuts down on irrigation.
The fields are irrigated using a reservoir with a capacity of 16,000 cubic metres. In one day, up to 60,000 cubic metres of water can be generated out using six large suction pumps.
The farm uses pivot irrigation consisting of mechanised sprinkler systems which can be moved using motors. The satellite monitoring and sprinkler systems can be accessed remotely by using apps.
From seeding to irrigation to harvest, all agricultural practices are automated and mechanised, reducing the dependence on humans. Currently, the farm operates with the help of only two engineers and six to seven workers.
Research for future
As part of the project, experts also test and identify wheat varieties suited to environments such as the UAE.
“We have a small experimental farm, in which we sow about 30 varieties of wheat,” Dr Alteneiji said.
“The crops are studied, monitored and measured every day by experts. Based on these experiments, we select the best variety of wheat for the project and work on developing them in the future.”
The crop’s production is an agricultural milestone for the UAE, as the country prepares to host the Cop28 climate summit and strives to increase food security amid concerns over climate change.
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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.”
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What the law says
Micro-retirement is not a recognised concept or employment status under Federal Decree Law No. 33 of 2021 on the Regulation of Labour Relations (as amended) (UAE Labour Law). As such, it reflects a voluntary work-life balance practice, rather than a recognised legal employment category, according to Dilini Loku, senior associate for law firm Gateley Middle East.
“Some companies may offer formal sabbatical policies or career break programmes; however, beyond such arrangements, there is no automatic right or statutory entitlement to extended breaks,” she explains.
“Any leave taken beyond statutory entitlements, such as annual leave, is typically regarded as unpaid leave in accordance with Article 33 of the UAE Labour Law. While employees may legally take unpaid leave, such requests are subject to the employer’s discretion and require approval.”
If an employee resigns to pursue micro-retirement, the employment contract is terminated, and the employer is under no legal obligation to rehire the employee in the future unless specific contractual agreements are in place (such as return-to-work arrangements), which are generally uncommon, Ms Loku adds.
Red flags
- Promises of high, fixed or 'guaranteed' returns.
- Unregulated structured products or complex investments often used to bypass traditional safeguards.
- Lack of clear information, vague language, no access to audited financials.
- Overseas companies targeting investors in other jurisdictions - this can make legal recovery difficult.
- Hard-selling tactics - creating urgency, offering 'exclusive' deals.
Courtesy: Carol Glynn, founder of Conscious Finance Coaching
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