NYU Abu Dhabi poised to unveil new green campus on Saadiyat Island



ABU DHABI // Construction has finished on New York University Abu Dhabi's main campus on Saadiyat Island.

The 21 buildings, which took less than four years to complete, span 450,000 square meters, an area equivalent to eight New York city blocks.

The campus includes academic buildings, a library, theatres, indoor sports facilities, student and faculty residences and laboratories.

In addition, the outdoor sports facilities, including pitches, a grandstand and an athletics track, are scheduled for completion by mid-July.

For its sustainable design, Abu Dhabi Urban Planning Council awarded the new campus the Estidama 2 Pearl rating, the minumum requirement for all government buidings.

Its construction used environmentally-sustainable standards, while renewable energy sources will be used to generate 75 per cent of campus hot water and 10 per cent of its energy.

The university said the campus’s design aims to promote interaction between different faculties, students and staff.

“NYU Abu Dhabi has set uniquely demanding goals for the quality of the faculty, students, and staff that it recruits, and for the excellence of its academic programmes.” said Al Bloom, NYU AD vice chancellor.

“We have likewise set rigorous standards for the fair and humane treatment of those who are building, maintaining, and operating our facilities. This remarkable campus reflects in the beauty of its architecture and in the functional capacity of its facilities, that same commitment to achieving excellence.”

Mr Bloom said that the Saadiyat campus is essential to realising NYUAD’s role as an educational centre within the community.

“It will contribute powerfully to realising our educational mission, enhance the bonds of our own community, and help transform the university into an intellectual and cultural magnet for the UAE and the world,“ he said.

Julia Saubier, a sophomore student studying social research and public policy, said she was excited about the new campus.

“The transition to our campus on Saadiyat Island provides us students with limitless opportunities,” said the 19-year-old, who has dual French-Filipino nationality.

“I’m excited to be living in a place with the facilities to fully support my academic and extracurricular goals. I think the new campus will provide an environment imbued with school unity and pride.”

Although building work is finished, the campus will not be open until August at the start of the next academic year.

nalwasmi@thenational.ae

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Second Test, Day 2:

South Africa 335 & 75/1 (22.0 ov)
England 205
South Africa lead by 205 runs with 9 wickets remaining

Match statistics

Abu Dhabi Harlequins 36 Bahrain 32

 

Harlequins

Tries: Penalty 2, Stevenson, Teasdale, Semple

Cons: Stevenson 2

Pens: Stevenson

 

Bahrain

Tries: Wallace 2, Heath, Evans, Behan

Cons: Radley 2

Pen: Radley

 

Man of the match: Craig Nutt (Harlequins)

COMPANY PROFILE
Name: HyperSpace
 
Started: 2020
 
Founders: Alexander Heller, Rama Allen and Desi Gonzalez
 
Based: Dubai, UAE
 
Sector: Entertainment 
 
Number of staff: 210 
 
Investment raised: $75 million from investors including Galaxy Interactive, Riyadh Season, Sega Ventures and Apis Venture Partners
City's slump

L - Juventus, 2-0
D - C Palace, 2-2
W - N Forest, 3-0
L - Liverpool, 2-0
D - Feyenoord, 3-3
L - Tottenham, 4-0
L - Brighton, 2-1
L - Sporting, 4-1
L - Bournemouth, 2-1
L - Tottenham, 2-1

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Engine 3.0L V6 turbo

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Power 345hp @ 5,000rpm

Torque 500Nm @ 1,370rpm

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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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From Zero

Artist: Linkin Park

Label: Warner Records

Number of tracks: 11

Rating: 4/5

The Sand Castle

Director: Matty Brown

Stars: Nadine Labaki, Ziad Bakri, Zain Al Rafeea, Riman Al Rafeea

Rating: 2.5/5

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Name: ARDH Collective
Based: Dubai
Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
Sector: Sustainability
Total funding: Self funded
Number of employees: 4
Company%20Profile
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The specs
Engine: 2.7-litre 4-cylinder Turbomax
Power: 310hp
Torque: 583Nm
Transmission: 8-speed automatic
Price: From Dh192,500
On sale: Now
The specs
Engine: Long-range single or dual motor with 200kW or 400kW battery
Power: 268bhp / 536bhp
Torque: 343Nm / 686Nm
Transmission: Single-speed automatic
Max touring range: 620km / 590km
Price: From Dh250,000 (estimated)
On sale: Later this year
Brief scoreline:

Manchester United 0

Manchester City 2

Bernardo Silva 54', Sane 66'