ABU DHABI // An automated slaughterhouse is to open in time for Eid Al Adha.
The abattoir, at Al Wathba, will have a capacity of 200 sheep an hour, Abu Dhabi Municipality says.
There are four slaughterhouses in and around Abu Dhabi island: one for commercial use on the island, and three for public use on the island, and in Shahama and Baniyas.
The Al Wathba facility is to be open only during Eid Al Adha.
Capacity at each of the slaughterhouses will increase for Ramadan and Eid.
The largest facility on the island, at Mina Zayed, can kill 250 sheep an hour.
The Baniyas facility serves Khalifa City A and B, and Mohammed Bin Zayed City, and has a capacity of 4,500 cattle a day.
"Normallythis facility, with its increased capacity, we use for Eid Al Adha when everybody jumps in at the same time in the morning after prayers," said Khalifa Al Rumaithi, director of public health at the municipality.
"We increased the chambers of slaughtering at Baniyas. In the holy month of Ramadan we are also very busy but in comparison to Eid Al Adha the pressure remains less."
If between 2,000 and 3,000 arrive at the slaughterhouse at the same time, it becomes very difficult to manage, Mr Al Rumaithi said.
The slaughterhouses' normal hours are 6am to 6pm, but during Ramadan opening times are extended to between 6am and 2am. Three shifts of workers accommodate demand during the holy month."Nobody is allowed to go on leave during this month only," Mr Al Rumaithi said. "The demand for meat goes up higly especially in the first week of Ramadan."
The municipality has plans to make all the slaughterhouses fully automated by 2015. The new abattoir at Al Wathba is to be fully automated, and the one in Shahama is to be converted by the end of 2013.
Mr Al Rumaithi said the slaughterhouses "serve the public for their better health and hygiene.
"Since 1972, we charge people for slaughtering a sheep only Dh15. Here the Government does not run these slaughterhouses as business establishments but it's entirely a service to the community.
"We spend more and more money on these slaughterhouses each year. If we increase the prices people will stop coming here and cut their sheep in the streets, inside villas, houses, farms, which will invite numerous health-related ailments and spread a foul smell in the entire vicinity," he said.
Veterinarians check the animals before slaughter to ensure they are disease-free.
Residents found slaughtering animals outdoors will be fined Dh500 for a first offence. They are referred to court for a second offence.
"In 2011, we fined 20 people who slaughtered outside the slaughterhouses, in 2010 and 2009 the number of such people reached up to 500 per year," Mr Al Rumaithi said. "If inspectors investigate and find blood stains on streets and leftovers of animal skins, and find the violator later, then we fine Dh1,000."
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The flights
Emirates and Etihad fly direct to Nairobi, with fares starting from Dh1,695. The resort can be reached from Nairobi via a 35-minute flight from Wilson Airport or Jomo Kenyatta International Airport, or by road, which takes at least three hours.
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Rooms at Fairmont Mount Kenya range from Dh1,870 per night for a deluxe room to Dh11,000 per night for the William Holden Cottage.
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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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