An upcoming wildlife attraction in Sharjah promises to be an "unparalleled natural destination in the region".
Preparations are gathering pace for Sharjah Safari, which will be home to more than 120 species – including rare animals native to Africa, the rarest of which will be the black rhinoceros.
The safari, which will be the largest in the world outside Africa, will have more than 100,000 native and African trees, the most important of which are Acacia tortilis.
Officials at the Environment and Protected Areas Authority (EPAA) unveiled the logo for the eagerly awaited tourist spot at a press conference on Thursday.
Hana Al Suwaidi, chairwoman of the EPAA, said the sprawling park will be made up of 12 environments representing the terrain of Africa and will include a section for giraffes, 15 of which were released in the wild to adapt to the safari atmosphere, and an area for rhinos.
"With the approval of Sheikh Dr Sultan bin Muhammad Al Qasimi, Supreme Council member and Ruler of Sharjah, the Sharjah Safari project, set within the Albridi Reserve in Al Dhaid, was the most important event in the authority's extended journey," Ms Al Suwaidi said.
"Many years of work have gone into protecting the environment, preserving nature and ensuring the availability of resources for future generations, as national wealth and sustainable development.
"The Emirate of Sharjah and the UAE will soon have a tourist attraction and an unparalleled natural destination in the region. We look forward to Sharjah Safari contributing to preserving biodiversity and wildlife and highlighting the efforts of the emirate."
The Sharjah Safari logo features four animals; an elephant, a giraffe, a lion and a rhinoceros.
Safari already making its mark
An opening date for the safari is still to be confirmed but it is already carrying out crucial conservation work.
In August, the birth of a southern white rhino on site was announced, giving new hope for a species that has faced the threat of extinction for more than a century.
The baby rhino was the result of a breeding programme, supported by the UN, that focuses on African native species.
The southern white rhino is primarily found in South Africa and continues to be in peril from poachers.
First thought to be extinct as far back as 1895, the species is making something of a comeback, with its population now estimated to be in excess of 20,000.
“There were many challenges in breeding this species. They are used to living in open landscape space in the savannahs,” Ms Al Suwaidi said at the time.
“They prefer humid environments because their skin is very dry. It was a big challenge to create the adequate environment and breed it here in Sharjah.
“Thankfully, the species found themselves in a safe environment in the safari and the breeding worked."
How to join and use Abu Dhabi’s public libraries
• There are six libraries in Abu Dhabi emirate run by the Department of Culture and Tourism, including one in Al Ain and Al Dhafra.
• Libraries are free to visit and visitors can consult books, use online resources and study there. Most are open from 8am to 8pm on weekdays, closed on Fridays and have variable hours on Saturdays, except for Qasr Al Watan which is open from 10am to 8pm every day.
• In order to borrow books, visitors must join the service by providing a passport photograph, Emirates ID and a refundable deposit of Dh400. Members can borrow five books for three weeks, all of which are renewable up to two times online.
• If users do not wish to pay the fee, they can still use the library’s electronic resources for free by simply registering on the website. Once registered, a username and password is provided, allowing remote access.
• For more information visit the library network's website.
How to protect yourself when air quality drops
Install an air filter in your home.
Close your windows and turn on the AC.
Shower or bath after being outside.
Wear a face mask.
Stay indoors when conditions are particularly poor.
If driving, turn your engine off when stationary.
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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.”
FFP EXPLAINED
What is Financial Fair Play?
Introduced in 2011 by Uefa, European football’s governing body, it demands that clubs live within their means. Chiefly, spend within their income and not make substantial losses.
What the rules dictate?
The second phase of its implementation limits losses to €30 million (Dh136m) over three seasons. Extra expenditure is permitted for investment in sustainable areas (youth academies, stadium development, etc). Money provided by owners is not viewed as income. Revenue from “related parties” to those owners is assessed by Uefa's “financial control body” to be sure it is a fair value, or in line with market prices.
What are the penalties?
There are a number of punishments, including fines, a loss of prize money or having to reduce squad size for European competition – as happened to PSG in 2014. There is even the threat of a competition ban, which could in theory lead to PSG’s suspension from the Uefa Champions League.
