The main station at Dubai Expo 2020. Courtesy: Dubai Expo
The main station at Dubai Expo 2020. Courtesy: Dubai Expo
The main station at Dubai Expo 2020. Courtesy: Dubai Expo
The main station at Dubai Expo 2020. Courtesy: Dubai Expo

UAE

Dazzling main Expo 2020 Dubai metro station unveiled for first time

A third station at Jumeirah Golf Estates will open in October to coincide with the start of the world fair

The National

June 01, 2021

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Dubai's newest metro station opened today at the Expo 2020 site.

The station is only for use by Expo 2020 employees and other eligible travellers until October 1.

It will go into general use for all passengers after the official opening later this year, when the event is under way, said the Road and Transport Authority.

The Red Line will allow passengers an uninterrupted journey from Al Rashidiya Station all the way to the Expo 2020 Station. Previously, this required switching trains at an interchange station.

Another station also opened at Dubai Investment Park today.

The two new stations opened just six months after the maiden journey on Route 2020 in January, with stops at four stations – Jabal Ali, The Gardens, The Discovery Gardens and Al Furjan.

A further station will open on October 1 at Jumeirah Golf Estates.

Dubai Ruler inaugurates metro's Route 2020: in pictures

  • Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, opens Route 2020, the completed metro extension that will transport passengers to the Expo 2020 site. Pictured with Sheikh Maktoum bin Mohammed, Deputy Ruler of Dubai. Courtesy: Sheikh Mohammed bin Rashid Twitter
    Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, opens Route 2020, the completed metro extension that will transport passengers to the Expo 2020 site. Pictured with Sheikh Maktoum bin Mohammed, Deputy Ruler of Dubai. Courtesy: Sheikh Mohammed bin Rashid Twitter
  • Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, launches the Red line metro extension on Wednesday. It will open to the public in September. Courtesy: Sheikh Mohammed bin Rashid Twitter
    Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, launches the Red line metro extension on Wednesday. It will open to the public in September. Courtesy: Sheikh Mohammed bin Rashid Twitter
  • Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, opens the 15km extension of the Red line. The project cost Dh11bn and construction lasted 4 years. Courtesy: Sheikh Mohammed bin Rashid Twitter
    Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, opens the 15km extension of the Red line. The project cost Dh11bn and construction lasted 4 years. Courtesy: Sheikh Mohammed bin Rashid Twitter
  • Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, inaugurates one of the seven new metro stations that are part of Route 2020. Courtesy: Sheikh Mohammed bin Rashid Twitter
    Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, inaugurates one of the seven new metro stations that are part of Route 2020. Courtesy: Sheikh Mohammed bin Rashid Twitter
  • Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, is shown a presentation about Route 2020. He inaugurated the Dubai Metro link with his son, Sheikh Maktoum, Deputy Ruler of Dubai, on Wednesday. Courtesy: Sheikh Mohammed bin Rashid Twitter
    Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, is shown a presentation about Route 2020. He inaugurated the Dubai Metro link with his son, Sheikh Maktoum, Deputy Ruler of Dubai, on Wednesday. Courtesy: Sheikh Mohammed bin Rashid Twitter
  • Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, rides the metro on Route 2020. Courtesy: Sheikh Mohammed bin Rashid Twitter
    Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, rides the metro on Route 2020. Courtesy: Sheikh Mohammed bin Rashid Twitter
  • Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, inaugurates Route 2020, a 15km extension of Dubai Metro's Red line that connects to the Expo site. Courtesy: Sheikh Mohammed bin Rashid Twitter
    Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, inaugurates Route 2020, a 15km extension of Dubai Metro's Red line that connects to the Expo site. Courtesy: Sheikh Mohammed bin Rashid Twitter
  • Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, launches the Red line metro extension on Wednesday. It will open to the public in September. Courtesy: Sheikh Mohammed bin Rashid Twitter
    Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, launches the Red line metro extension on Wednesday. It will open to the public in September. Courtesy: Sheikh Mohammed bin Rashid Twitter
  • Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, opens the 15km extension of the Red line. The project cost Dh11bn and construction lasted 4 years. Pictured with Sheikh Maktoum bin Mohammed, Deputy Ruler of Dubai. Courtesy: Sheikh Mohammed bin Rashid Twitter
    Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, opens the 15km extension of the Red line. The project cost Dh11bn and construction lasted 4 years. Pictured with Sheikh Maktoum bin Mohammed, Deputy Ruler of Dubai. Courtesy: Sheikh Mohammed bin Rashid Twitter
  • Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, inaugurates Route 2020, a 15km extension of Dubai Metro's Red line that connects to the Expo site. Courtesy: Sheikh Mohammed bin Rashid Twitter
    Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, inaugurates Route 2020, a 15km extension of Dubai Metro's Red line that connects to the Expo site. Courtesy: Sheikh Mohammed bin Rashid Twitter
  • Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, inaugurates the Red line metro extension that links to the Expo site. Route 2020 opens to the public in September. Courtesy: Sheikh Mohammed bin Rashid Twitter
    Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, inaugurates the Red line metro extension that links to the Expo site. Route 2020 opens to the public in September. Courtesy: Sheikh Mohammed bin Rashid Twitter
  • Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, is shown a presentation about Route 2020. He inaugurated the Dubai Metro link with his son, Sheikh Maktoum, Deputy Ruler of Dubai, on Wednesday. Courtesy: Sheikh Mohammed bin Rashid Twitter
    Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, is shown a presentation about Route 2020. He inaugurated the Dubai Metro link with his son, Sheikh Maktoum, Deputy Ruler of Dubai, on Wednesday. Courtesy: Sheikh Mohammed bin Rashid Twitter
  • Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, inaugurates Route 2020, a 15km extension of Dubai Metro's Red line that connects to the Expo site. Courtesy: Sheikh Mohammed bin Rashid Twitter
    Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, inaugurates Route 2020, a 15km extension of Dubai Metro's Red line that connects to the Expo site. Courtesy: Sheikh Mohammed bin Rashid Twitter
UK’s AI plan
  • AI ambassadors such as MIT economist Simon Johnson, Monzo cofounder Tom Blomfield and Google DeepMind’s Raia Hadsell
  • £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
While you're here
COMPANY%20PROFILE
%3Cp%3E%3Cstrong%3EName%3A%20%3C%2Fstrong%3EKinetic%207%3Cbr%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%202018%3Cbr%3E%3Cstrong%3EFounder%3A%3C%2Fstrong%3E%20Rick%20Parish%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Abu%20Dhabi%2C%20UAE%3Cbr%3E%3Cstrong%3EIndustry%3A%3C%2Fstrong%3E%20Clean%20cooking%3Cbr%3E%3Cstrong%3EFunding%3A%3C%2Fstrong%3E%20%2410%20million%3Cbr%3E%3Cstrong%3EInvestors%3A%3C%2Fstrong%3E%20Self-funded%3C%2Fp%3E%0A
The specs

Engine: 4.0-litre V8 twin-turbocharged and three electric motors

Power: Combined output 920hp

Torque: 730Nm at 4,000-7,000rpm

Transmission: 8-speed dual-clutch automatic

Fuel consumption: 11.2L/100km

On sale: Now, deliveries expected later in 2025

Price: expected to start at Dh1,432,000

While you're here

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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