$2bn housing for Emiratis a step closer


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Musanada, the building and general services arm of the Abu Dhabi Government, is pressing ahead with plans to build Dh7.6 billion (US$2.06bn), 42 square kilometres Emirati community in Abu Dhabi - one of the largest of its kind in the capital.

The company this week awarded a contract to the engineering and design specialist Atkins to design the infrastructure for a new 130,000-strong community for Emiratis in the capital in an attempt to meet growing demand.

Known as North Wathba Urban Development, the scheme will include 20,000 villas, flats and townhouses in a neighbourhood north of Baniyas and south of Shamkhah, near Khalifa City B, about 45km from Abu Dhabi city centre.

As part of its role, Atkins will complete design and tender documentation for the enabling works, build permanent infrastructure including primary and local roads, landscaping and amenities.

It will also deliver utility transmission and distribution networks comprising drainage, sewerage, potable water, power, gas, district cooling and telecommunications.

"This is an important and far-reaching project for Abu Dhabi which will provide an excellent quality Emirati neighbourhood, including links to public transport networks and high levels of sustainable design," said Dr Ghassan Ziadat, the director of infrastructure and regional head of bridges for Atkins.

The North Wathba masterplan was completed by Abu Dhabi's Urban Development Council (UPC) and includes plots for shopping centres, schools, hospitals, offices and parks.

UPC is seeking to provide 13,000 new properties to Emirati families by 2015. The municipality issues free residential plots to Emiratis each year.

Although the Abu Dhabi property market in general has an oversupply of homes, with residential rents falling 24 per cent over the past year, according to CBRE, experts say there remains a pent-up demand for social housing within the emirate.

Last month, Mohammed Al Mubarak, Aldar's deputy chief executive, said social housing needs within Abu Dhabi could total as many as 10,000 new homes on top of those already being built.

The North Wathba community lies next to its sister development, the 40 million square foot South Al Shamkha project. That is already under construction after being approved last year by the Abu Dhabi Executive Council and will provide an additional 12,460 plots for Emirati villas.

It is expected to be completed by 2014.

South Al Shamkha will include an extensive public transport system that includes a metro system to connect to the capital.

UAE squad

Esha Oza (captain), Al Maseera Jahangir, Emily Thomas, Heena Hotchandani, Indhuja Nandakumar, Katie Thompson, Lavanya Keny, Mehak Thakur, Michelle Botha, Rinitha Rajith, Samaira Dharnidharka, Siya Gokhale, Sashikala Silva, Suraksha Kotte, Theertha Satish (wicketkeeper) Udeni Kuruppuarachchige, Vaishnave Mahesh.

UAE tour of Zimbabwe

All matches in Bulawayo
Friday, Sept 26 – First ODI
Sunday, Sept 28 – Second ODI
Tuesday, Sept 30 – Third ODI
Thursday, Oct 2 – Fourth ODI
Sunday, Oct 5 – First T20I
Monday, Oct 6 – Second T20I

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Starring: Brad Pitt, Damson Idris, Kerry Condon, Javier Bardem

Director: Joseph Kosinski

Rating: 4/5

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Desert Warrior

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Director: Rupert Wyatt

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Abu Dhabi traffic facts

Drivers in Abu Dhabi spend 10 per cent longer in congested conditions than they would on a free-flowing road

The highest volume of traffic on the roads is found between 7am and 8am on a Sunday.

Travelling before 7am on a Sunday could save up to four hours per year on a 30-minute commute.

The day was the least congestion in Abu Dhabi in 2019 was Tuesday, August 13.

The highest levels of traffic were found on Sunday, November 10.

Drivers in Abu Dhabi lost 41 hours spent in traffic jams in rush hour during 2019

 

RACE CARD

6.30pm Maiden (TB) Dh82.500 (Dirt) 1,400m

7.05pm Handicap (TB) Dh87,500 (D) 1,400m

7.40pm Handicap (TB) Dh92,500 (Turf) 2,410m

8.15pm Handicap (TB) Dh105,000 (D) 1,900m

8.50pm UAE 2000 Guineas Trial (TB) Conditions Dh183,650 (D) 1,600m

9.25pm Dubai Trophy (TB) Conditions Dh183,650 (T) 1,200m

10pm Handicap (TB) Dh102,500 (T) 1,400m

UAE currency: the story behind the money in your pockets
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Multitasking pays off for money goals

Tackling money goals one at a time cost financial literacy expert Barbara O'Neill at least $1 million.

That's how much Ms O'Neill, a distinguished professor at Rutgers University in the US, figures she lost by starting saving for retirement only after she had created an emergency fund, bought a car with cash and purchased a home.

"I tell students that eventually, 30 years later, I hit the million-dollar mark, but I could've had $2 million," Ms O'Neill says.

Too often, financial experts say, people want to attack their money goals one at a time: "As soon as I pay off my credit card debt, then I'll start saving for a home," or, "As soon as I pay off my student loan debt, then I'll start saving for retirement"."

People do not realise how costly the words "as soon as" can be. Paying off debt is a worthy goal, but it should not come at the expense of other goals, particularly saving for retirement. The sooner money is contributed, the longer it can benefit from compounded returns. Compounded returns are when your investment gains earn their own gains, which can dramatically increase your balances over time.

"By putting off saving for the future, you are really inhibiting yourself from benefiting from that wonderful magic," says Kimberly Zimmerman Rand , an accredited financial counsellor and principal at Dragonfly Financial Solutions in Boston. "If you can start saving today ... you are going to have a lot more five years from now than if you decide to pay off debt for three years and start saving in year four."

Brief scores:

Southampton 2

Armstrong 13', Soares 20'

Manchester United 2

Lukaku 33', Herrera 39'

Leading all-time NBA scorers

Kareem Abdul-Jabbar 38,387
Karl Malone 36,928
Kobe Bryant 33,643
Michael Jordan 32,292
LeBron James 31,425
Wilt Chamberlain 31,419

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Rory Burns, Keaton Jennings, Ben Stokes, Joe Root (c), Jos Buttler, Moeen Ali, Ben Foakes (wk), Sam Curran, Adil Rashid, Jack Leach, James Anderson

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  • £10bn AI growth zone in South Wales to create 5,000 jobs
  • £100m of government support for startups building AI hardware products
  • £250m to train new AI models
Conflict, drought, famine

Estimates of the number of deaths caused by the famine range from 400,000 to 1 million, according to a document prepared for the UK House of Lords in 2024.
It has been claimed that the policies of the Ethiopian government, which took control after deposing Emperor Haile Selassie in a military-led revolution in 1974, contributed to the scale of the famine.
Dr Miriam Bradley, senior lecturer in humanitarian studies at the University of Manchester, has argued that, by the early 1980s, “several government policies combined to cause, rather than prevent, a famine which lasted from 1983 to 1985. Mengistu’s government imposed Stalinist-model agricultural policies involving forced collectivisation and villagisation [relocation of communities into planned villages].
The West became aware of the catastrophe through a series of BBC News reports by journalist Michael Buerk in October 1984 describing a “biblical famine” and containing graphic images of thousands of people, including children, facing starvation.

Band Aid

Bob Geldof, singer with the Irish rock group The Boomtown Rats, formed Band Aid in response to the horrific images shown in the news broadcasts.
With Midge Ure of the band Ultravox, he wrote the hit charity single Do They Know it’s Christmas in December 1984, featuring a string of high-profile musicians.
Following the single’s success, the idea to stage a rock concert evolved.
Live Aid was a series of simultaneous concerts that took place at Wembley Stadium in London, John F Kennedy Stadium in Philadelphia, the US, and at various other venues across the world.
The combined event was broadcast to an estimated worldwide audience of 1.5 billion.

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Seemar’s top six for the Dubai World Cup Carnival:

1. Reynaldothewizard
2. North America
3. Raven’s Corner
4. Hawkesbury
5. New Maharajah
6. Secret Ambition