Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, has set out the emirate's plans to increase housing standards, health care and quality of life for its citizens. Photo: Wam
Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, has set out the emirate's plans to increase housing standards, health care and quality of life for its citizens. Photo: Wam
Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, has set out the emirate's plans to increase housing standards, health care and quality of life for its citizens. Photo: Wam
Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, has set out the emirate's plans to increase housing standards, health care and quality of life for its citizens. Photo: Wam

Dubai sets out Dh208bn plan to double the number of Emirati families within 10 years


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Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, on Thursday launched a Dh208 billion ($56.63 billion) strategy to double the number of Emirati families in the emirate within a decade.

Sheikh Mohammed set out plans to increase housing standards, health care and quality of life for citizens.

He said residential developments for Emiratis would be established to deliver “the best living conditions in the world”.

Dubai's population is more than 3.65 million, driven by the emirate's position as a leading destination for expatriates.

Sheikh Mohammed wants to increase Dubai's Emirati population as part of the Dubai Social Agenda 33.

“Today we announce the launch of Dubai Social Agenda 33. It is our plan for Dubai's community for the next 10 years, with the slogan 'Family, the Foundation of the Nation,'" Sheikh Mohammed wrote on X.

“Its budget is Dh208 billion over the next decade, aiming at the citizens of our families in Dubai – providing housing, improving living standards, identity, values, social cohesion, health care, and developing future skills in our upcoming generations.

“Our goal is to double the number of citizen families within the decade, providing them with the world's best residential areas.”

Sheikh Mohammed said his sons would guide the project.

“The social agenda has clear targets, approved programmes, allocated budgets, and will be followed by my sons Hamdan, Maktoum, Ahmed, and their siblings,” he said.

“They are the most dedicated individuals to Dubai's large family, where they were raised and cherish it with bonds of love, affection and blood.

“The nation is not just numbers and structures; it is families and individuals. My message to all officials is that our priority in the coming period is the family protection, empowerment, development, and cohesion. We pray that God guides us in serving the country and its people.”

The goals of the Dubai Social Agenda 33 plan include establishing the world's most efficient and high-quality healthcare system and developing an education sector capable of keeping pace with Dubai's future ambitions to be among the top ten cities in the world for quality education.

The initiative also calls for a proactive social care system to be cultivated, focused on the protection, care and empowerment of citizens and for the number of Emiratis working in Dubai's private sector companies to be tripled.

The welfare project aims to ensure Dubai is one of the top three cities in the world for living standards and has a life expectancy among the top ten globally.

How will funding be allocated?

Dubai will invest Dh13 billion in the education sector as part of a social improvement programme. Chris Whiteoak / The National
Dubai will invest Dh13 billion in the education sector as part of a social improvement programme. Chris Whiteoak / The National

The Dubai government has outlined how the Dh208 billion funding pot will be distributed over the coming years.

Spending in the healthcare sector will increase from Dh66m - from 2014 to 2023 - to Dh120m until 2033.

Authorities said Dh26 billion would be used for citizen support, with the aim of promoting family stability and well-being.

Dh21.9 billion is to be spent on supporting social institutions in an effort to bolster social cohesion, raise awareness of national identity and encourage citizens to be more involved in their communities.

Dh14.5 billion will be set aside for the development of integrated residential compounds for Emiratis, while Dh13 billion will be invested in fostering a sustainable education system that supports young talent and entrepreneurial spirit.

The arts and culture scene will receive Dh6.4 billion to benefit its work, with the sports sector to be given a Dh6.2 billion boost.

"The focus on these areas aims to turn Dubai into a cultural hub that nurtures creativity and welcomes intellectuals and artists from around the world," the Dubai Media Office said.

"It also aims to establish Dubai on the global sports scene as it is already a favourite destination for hosting sporting events and training camps."

How to grow a population

Andrew Gardner, professor of sociology and anthropology at the University of Puget Sound in Washington state, said Dubai's plan to increase its Emirati population could have roots in the past.

He said that in the middle of the 20th century, the Gulf was home to large families and population growth was high.

However, as countries modernised, families tended to become smaller. He said there could now be a "desire to maintain and return to" a more traditional, family-based society.

Prof Gardner said that stimulating growth in Dubai's Emirati population could also reduce the reliance on "a temporary, transnational workforce" from other countries.

He said countries around the world faced challenges in boosting birth rates.

"Young women are finding their way to professionalise and looking beyond the domestic sector that was traditionally their purview," he said.

"As we see in other parts of the world, as young women move into the workforce and seek professional appointments, birth rates go down. These are interesting modern problems that many nations around the world face."

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Evacuations to France hit by controversy
  • Over 500 Gazans have been evacuated to France since November 2023
  • Evacuations were paused after a student already in France posted anti-Semitic content and was subsequently expelled to Qatar
  • The Foreign Ministry launched a review to determine how authorities failed to detect the posts before her entry
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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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Email sent to Uber team from chief executive Dara Khosrowshahi

From: Dara

To: Team@

Date: March 25, 2019 at 11:45pm PT

Subj: Accelerating in the Middle East

Five years ago, Uber launched in the Middle East. It was the start of an incredible journey, with millions of riders and drivers finding new ways to move and work in a dynamic region that’s become so important to Uber. Now Pakistan is one of our fastest-growing markets in the world, women are driving with Uber across Saudi Arabia, and we chose Cairo to launch our first Uber Bus product late last year.

Today we are taking the next step in this journey—well, it’s more like a leap, and a big one: in a few minutes, we’ll announce that we’ve agreed to acquire Careem. Importantly, we intend to operate Careem independently, under the leadership of co-founder and current CEO Mudassir Sheikha. I’ve gotten to know both co-founders, Mudassir and Magnus Olsson, and what they have built is truly extraordinary. They are first-class entrepreneurs who share our platform vision and, like us, have launched a wide range of products—from digital payments to food delivery—to serve consumers.

I expect many of you will ask how we arrived at this structure, meaning allowing Careem to maintain an independent brand and operate separately. After careful consideration, we decided that this framework has the advantage of letting us build new products and try new ideas across not one, but two, strong brands, with strong operators within each. Over time, by integrating parts of our networks, we can operate more efficiently, achieve even lower wait times, expand new products like high-capacity vehicles and payments, and quicken the already remarkable pace of innovation in the region.

This acquisition is subject to regulatory approval in various countries, which we don’t expect before Q1 2020. Until then, nothing changes. And since both companies will continue to largely operate separately after the acquisition, very little will change in either teams’ day-to-day operations post-close. Today’s news is a testament to the incredible business our team has worked so hard to build.

It’s a great day for the Middle East, for the region’s thriving tech sector, for Careem, and for Uber.

Uber on,

Dara

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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."
Updated: January 07, 2024, 5:25 AM