Five riders were killed and 29 injured in accidents involving electric scooters and e-bikes in Dubai in the first eight months of the year, prompting a renewed safety warning from police.
Police issued more than 10,000 fines to people flouting safety rules during the same period, official figures released on Tuesday have shown.
Maj Gen Saif Al Mazroui, director of Dubai Police's traffic department, said the statistics emphasised the need to tackle reckless riders.
He called on the public to adhere to safety regulations when using the electric vehicles. Rules include using specific paths, adhering to speed limits and wearing helmets.
"We urge riders to adhere to road safety guidelines to avoid accidents," Maj Gen Al Mazroui said.
“Cyclists should respect traffic laws and stick to designated paths. They should wear reflective vests and helmets, as well as adhering to traffic lights and road signs.
"It is important the bike has functioning brakes and lights."
Dubai Police are focused on reducing the number of breaches "and apprehending reckless drivers to ensure road safety and minimise fatalities", he said.
Police said Dh300 ($81) fines could be imposed for those who use e-scooters and e-bikes dangerously.
Repeat offenders can have their e-scooter or e-bike confiscated for up to 30 days.
Dubai Police seized 8,786 bicycles and electric bikes in the first six months of the year, under rules introduced in March last year to improve safety.
E-scooter rules
The regulations state that anyone riding an e-scooter or e-bike must have a driving licence issued by the Roads and Transport Authority. People under the age of 16 are not permitted to operate an e-bike or e-scooter.
Bikes cannot be used on roads where the speed limit is 60kph or more.
Cyclists should not ride on jogging or walking tracks and reckless acts, including hooking to a vehicle while cycling, are prohibited.
Carrying passengers on bicycles and e-bikes is not permitted unless the bikes have seats for them.
The resolution states that cyclists under 12 should be accompanied by a cyclist who is 18 or older.
In March, Dubai Police carried out an awareness campaign to emphasise breaches of e-scooter and bicycle rules, including failing to wear helmets and travelling against the flow of traffic.
The UAE has encouraged the public to use alternative modes of transport to help reduce traffic and cut emissions as part of the country's efforts to achieve net zero.
Dubai has been at the forefront of efforts to promote the safe use of e-scooters.
In October 2022, transport authorities announced plans to double the length of e-scooter and cycle tracks to almost 400km, as well as reducing speed limits to 30kph on some roads to improve rider safety.
Eleven new routes were to be opened for e-scooters and bicycles this year under the plans.
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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.”
