Dubai has unveiled a major plan to develop 54km of beaches around Palm Jebel Ali, The Palm Jumeirah and Al Mamzar, and a new beach at Jebel Ali.
The new projects, launched by Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, include the development of enclosed beach areas, walkways, cafes and dining areas.
The 8km beach at Jebel Ali, which will be developed in collaboration with Nakheel, will include the planting of mangrove trees to boost protection from erosion and preserve marine habitats.
It will also have cycling and pedestrian tracks, aqua sports facilities, rest and recreation amenities, restaurants and food carts, as well as family spaces, beach camping and parking areas.
A direct public bus route will be launched to link Jebel Ali Metro Station to the beach.
The public will also be able to visit turtle enclosures at the beach, which will support the UAE's efforts to save and rehabilitate turtle species and return them to their natural habitat.
The first phase of the master plan also includes further development of Al Mamzar beach, which will commence in June and will be completed by the end of this year.
The project will feature new pedestrian and cycling tracks and the planting of mangrove trees along the Corniche section of the beach.
A 4,000-metre cycling track will be added to Al Mamzar public beach and 9 per cent the beach will be designated for night swimming later this year, with more space to be allocated next year.
The developments are part of a plan to lengthen the beaches in the emirate by 400 per cent by 2040 and increase the services provided on public beaches by 300 per cent by 2025.
Sheikh Mohammed said the expansion was part of the emirate's development plan launched in March 2021.
“Within the Dubai Urban Plan, we have adopted the development and doubling of public beaches by 400% by 2040, which will increase its area from 21km now to 105km and raise the percentage of services by 300% on public beaches by 2025,” Sheikh Mohammed wrote on Twitter.
“We launched the first urban plan in Dubai in the 1960s. Development in Dubai is continuing and we are still at the beginning.
“We will continue to provide the best standard of living for individuals and families in services and projects globally.”
Sheikh Mohammed's tweets were accompanied by images of Jebel Ali beach and a video showing Sheikh Hamdan bin Mohammed, Crown Prince of Dubai, releasing turtles into the sea.
Sheikh Mohammed said the development of more beaches in the coming years would make Dubai an even more attractive place for visitors.
Boosting tourism and supporting economic growth
“The new urban projects in the emirate will continue to impress and will support our economic and tourism agenda for the next decade,” he said.
“Dubai will continue to compete with itself to be the ideal place for visitors and residents.”
The comprehensive Dubai 2040 Urban Plan laid out the future of the emirate's sustainable urban development.
Its aim is to transform the emirate and create an interconnected, people-led city that balances community with tourism and modernity with heritage and nature.
Over the next two decades, the emirate's population is expected to swell to 5.8 million, from 3.3 million now.
The plan – the seventh of its kind since the emirate was established in 1960 – focuses on using space within the limits of the current city and concentrates development in existing urban areas.
The plan includes five new main urban areas, with spaces designated for educational and health centres to increase by 25 per cent and areas for hotels and tourism to be expanded by 134 per cent.
Areas used for commercial, industrial and economic activities will increase to 168 square kilometres, while 60 per cent of Dubai will comprise nature reserves and natural areas.
The plan also envisages 55 per cent of the population living within 800m of a main public transport station.
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GOLF’S RAHMBO
- 5 wins in 22 months as pro
- Three wins in past 10 starts
- 45 pro starts worldwide: 5 wins, 17 top 5s
- Ranked 551th in world on debut, now No 4 (was No 2 earlier this year)
- 5th player in last 30 years to win 3 European Tour and 2 PGA Tour titles before age 24 (Woods, Garcia, McIlroy, Spieth)
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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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Moon Music
Artist: Coldplay
Label: Parlophone/Atlantic
Number of tracks: 10
Rating: 3/5
KILLING OF QASSEM SULEIMANI
TRAP
Starring: Josh Hartnett, Saleka Shyamalan, Ariel Donaghue
Director: M Night Shyamalan
Rating: 3/5
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Five hymns the crowds can join in
Papal Mass will begin at 10.30am at the Zayed Sports City Stadium on Tuesday
Some 17 hymns will be sung by a 120-strong UAE choir
Five hymns will be rehearsed with crowds on Tuesday morning before the Pope arrives at stadium
‘Christ be our Light’ as the entrance song
‘All that I am’ for the offertory or during the symbolic offering of gifts at the altar
‘Make me a Channel of your Peace’ and ‘Soul of my Saviour’ for the communion
‘Tell out my Soul’ as the final hymn after the blessings from the Pope
The choir will also sing the hymn ‘Legions of Heaven’ in Arabic as ‘Assakiroo Sama’
There are 15 Arabic speakers from Syria, Lebanon and Jordan in the choir that comprises residents from the Philippines, India, France, Italy, America, Netherlands, Armenia and Indonesia
The choir will be accompanied by a brass ensemble and an organ
They will practice for the first time at the stadium on the eve of the public mass on Monday evening
Most sought after workplace benefits in the UAE
- Flexible work arrangements
- Pension support
- Mental well-being assistance
- Insurance coverage for optical, dental, alternative medicine, cancer screening
- Financial well-being incentives
Key findings of Jenkins report
- Founder of the Muslim Brotherhood, Hassan al Banna, "accepted the political utility of violence"
- Views of key Muslim Brotherhood ideologue, Sayyid Qutb, have “consistently been understood” as permitting “the use of extreme violence in the pursuit of the perfect Islamic society” and “never been institutionally disowned” by the movement.
- Muslim Brotherhood at all levels has repeatedly defended Hamas attacks against Israel, including the use of suicide bombers and the killing of civilians.
- Laying out the report in the House of Commons, David Cameron told MPs: "The main findings of the review support the conclusion that membership of, association with, or influence by the Muslim Brotherhood should be considered as a possible indicator of extremism."
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Global state-owned investor ranking by size
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1.
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United States
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2.
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China
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3.
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UAE
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4.
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Japan
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5
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Norway
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6.
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Canada
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7.
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Singapore
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8.
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Australia
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9.
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Saudi Arabia
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10.
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South Korea
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Company%20profile
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COMPANY%20PROFILE
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How has net migration to UK changed?
The figure was broadly flat immediately before the Covid-19 pandemic, standing at 216,000 in the year to June 2018 and 224,000 in the year to June 2019.
It then dropped to an estimated 111,000 in the year to June 2020 when restrictions introduced during the pandemic limited travel and movement.
The total rose to 254,000 in the year to June 2021, followed by steep jumps to 634,000 in the year to June 2022 and 906,000 in the year to June 2023.
The latest available figure of 728,000 for the 12 months to June 2024 suggests levels are starting to decrease.