ABU DHABI // Illiterate labourers will be the focus of a construction-site safety campaign aiming to cut down on deaths and injuries across the city.
The campaign, to tour the capital next month, includes illustrated posters that highlight the 16 biggest hazards at construction sites, and a mobile training centre where workers can watch a video reinforcing safety messages.
The campaign will visit 10 large projects, with plans to visit smaller ones later in the year, as part of the a municipality initiative.
In 2011, the first year for which statistics were kept, the municipality recorded 29 accidents at construction sites, 10 of them fatal.
The campaign is being organised by the environment, health and safety (EHS) division of the municipality and will take place during the last week of April.
The municipality already conducts site inspections and workshops for contractors, consultants and developers, but this campaign will improve safety even further, said Mohammed Al Houssani, the head of inspection and monitoring at EHS.
"The campaign will improve the safety awareness and, when the awareness is improved, for sure it will reduce the incidents," Mr Al Houssani said.
Among the 16 "top hazards" depicted on the posters are overloaded vehicles and forklifts, unstable mobile cranes, fire, unsafe working platforms and unsafe scaffolds.
The posters will also be produced in seven different languages, including Urdu, Hindi, Malayalam and Chinese.
EHS has 10 engineers who inspect sites in Abu Dhabi city.
Click on the image below for the 16 biggest hazards
To obtain a building permit, companies must submit an environment, health and safety plan for approval by the municipality, then the EHS engineers must ensure the rules are adhered to during construction.
"We are looking at the implementation, not just the documents," said Mr Al Houssani. "They have a target each day to visit three construction sites for each engineer."
Offenders face fines of between Dh1,000 and Dh50,000.
From May 2010 until December 31 last year, a total of 3,474 separate construction projects were inspected by EHS and 126 fines were issued.
Unsafe scaffolding resulted in 13 fines, the highest number of any category, and most of the improvement notes, which are issued as the step before fines are imposed, Mr Al Houssani said.
Abdulaziz Zurub, director of EHS, said unsafe scaffolding was the main problem on construction sites, and another poster relates specifically to it.
Mr Zurub, who established EHS in May 2010, said there had been improvement in building-site safety since then but there was more work to do.
In January last year a scaffolding accident that killed a labourer on a construction site in Abu Dhabi was found to be caused by substandard equipment, improper supervision, negligence and strong winds.
Investigating municipality inspectors noted more than 20 offences at the site near the Euro Hotel on Muroor Road.
Five men fell when the improperly erected scaffolding collapsed on January 20.
An Indian worker standing below the structure was killed because he "was not able to run/move out from his present location due to abrupt and sudden collapse of scaffolding", a report said.
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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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