Masdar City, being built outside of Abu Dhabi, will be the world's first zero-carbon emissions development.
Masdar City, being built outside of Abu Dhabi, will be the world's first zero-carbon emissions development.

Masdar could become global model



DUBAI // Masdar City, which is being built outside Abu Dhabi as the world's first carbon-neutral city, could become a model for similar cities around the world, the head of a French building group said. Alain Maugard, the president of the Centre Scientifique et Technique du Bâtiment, said the planned zero-waste, zero-emissions city could make cities designed in the past 50 years, such as Abu Dhabi itself, obsolete.

Masdar is a project of the Abu Dhabi Government through Mubadala Development. It will be a dense walled city on the outskirts of the capital and is due for completion in 2013. Private cars will be banned in favour of electric-powered public transport, and energy will be generated by solar power and other renewable sources. Mr Maugard said his group, which specialises in predicting town planning trends of the future, would carefully study the progress of Masdar.

"We will have to question how the city will be interpreted," Mr Maugard said. "This new city is on the outside of the old city. In the future, the older city will be out of step. Masdar is doing the opposite of what the other cities are doing. "The opposite system is clustered with highways and cars. Is it possible to backtrack to the traditional inherited model where cars did not exist? "For something very new we have to ask the question, what will we do with the last 50 years of construction? The sooner we change what we've constructed the better."

Masdar will house 50,000 people and cater for another 40,000 commuting to work in the city. It will use electric vehicles and trains for transport, and its shaded pedestrian areas will make walking in the desert heat more tolerable. Mr Khaled Awad, the director of the property development unit in Abu Dhabi Future Energy Company, which is developing Masdar, said other developers are already interested in his company's plans.

"The market will make the choice. Our properties will be the same price as the other properties in Abu Dhabi," Mr Awad said. The Masdar concept could work elsewhere in the world, he added. "If you go to Scotland you will use wave energy, and other countries may use wind energy. We are working with our environment by using solar energy. It's about integrating with the environment." Mr Awad and Mr Maugard were speaking at the open session of the General Assembly of the International Organisation for Standardisation in Dubai, at which sustainable building was discussed.

eharnan@thenational.ae

Company profile

Company name: Ogram
Started: 2017
Founders: Karim Kouatly and Shafiq Khartabil
Based: Dubai, UAE
Industry: On-demand staffing
Number of employees: 50
Funding: More than $4 million
Funding round: Series A
Investors: Global Ventures, Aditum and Oraseya Capital

Sweet Tooth

Creator: Jim Mickle
Starring: Christian Convery, Nonso Anozie, Adeel Akhtar, Stefania LaVie Owen
Rating: 2.5/5

Sarfira

Director: Sudha Kongara Prasad

Starring: Akshay Kumar, Radhika Madan, Paresh Rawal

Rating: 2/5

 


 

Company Profile

Company name: Namara
Started: June 2022
Founder: Mohammed Alnamara
Based: Dubai
Sector: Microfinance
Current number of staff: 16
Investment stage: Series A
Investors: Family offices

How to get exposure to gold

Although you can buy gold easily on the Dubai markets, the problem with buying physical bars, coins or jewellery is that you then have storage, security and insurance issues.

A far easier option is to invest in a low-cost exchange traded fund (ETF) that invests in the precious metal instead, for example, ETFS Physical Gold (PHAU) and iShares Physical Gold (SGLN) both track physical gold. The VanEck Vectors Gold Miners ETF invests directly in mining companies.

Alternatively, BlackRock Gold & General seeks to achieve long-term capital growth primarily through an actively managed portfolio of gold mining, commodity and precious-metal related shares. Its largest portfolio holdings include gold miners Newcrest Mining, Barrick Gold Corp, Agnico Eagle Mines and the NewMont Goldcorp.

Brave investors could take on the added risk of buying individual gold mining stocks, many of which have performed wonderfully well lately.

London-listed Centamin is up more than 70 per cent in just three months, although in a sign of its volatility, it is down 5 per cent on two years ago. Trans-Siberian Gold, listed on London's alternative investment market (AIM) for small stocks, has seen its share price almost quadruple from 34p to 124p over the same period, but do not assume this kind of runaway growth can continue for long

However, buying individual equities like these is highly risky, as their share prices can crash just as quickly, which isn't what what you want from a supposedly safe haven.

UAE currency: the story behind the money in your pockets
Five famous companies founded by teens

There are numerous success stories of teen businesses that were created in college dorm rooms and other modest circumstances. Below are some of the most recognisable names in the industry:

  1. Facebook: Mark Zuckerberg and his friends started Facebook when he was a 19-year-old Harvard undergraduate. 
  2. Dell: When Michael Dell was an undergraduate student at Texas University in 1984, he started upgrading computers for profit. He starting working full-time on his business when he was 19. Eventually, his company became the Dell Computer Corporation and then Dell Inc. 
  3. Subway: Fred DeLuca opened the first Subway restaurant when he was 17. In 1965, Mr DeLuca needed extra money for college, so he decided to open his own business. Peter Buck, a family friend, lent him $1,000 and together, they opened Pete’s Super Submarines. A few years later, the company was rebranded and called Subway. 
  4. Mashable: In 2005, Pete Cashmore created Mashable in Scotland when he was a teenager. The site was then a technology blog. Over the next few decades, Mr Cashmore has turned Mashable into a global media company.
  5. Oculus VR: Palmer Luckey founded Oculus VR in June 2012, when he was 19. In August that year, Oculus launched its Kickstarter campaign and raised more than $1 million in three days. Facebook bought Oculus for $2 billion two years later.
In numbers: China in Dubai

The number of Chinese people living in Dubai: An estimated 200,000

Number of Chinese people in International City: Almost 50,000

Daily visitors to Dragon Mart in 2018/19: 120,000

Daily visitors to Dragon Mart in 2010: 20,000

Percentage increase in visitors in eight years: 500 per cent

HEADLINE HERE
  • I would recommend writing out the text in the body
  • And then copy into this box
  • It can be as long as you link
  • But I recommend you use the bullet point function (see red square)
  • Or try to keep the word count down
  • Be wary of other embeds lengthy fact boxes could crash into
  • That's about it
PROFILE BOX

Company name: Overwrite.ai

Founder: Ayman Alashkar

Started: Established in 2020

Based: Dubai International Financial Centre, Dubai

Sector: PropTech

Initial investment: Self-funded by founder

Funding stage: Seed funding, in talks with angel investors

TO CATCH A KILLER

Director: Damian Szifron

Stars: Shailene Woodley, Ben Mendelsohn, Ralph Ineson

Rating: 2/5

While you're here
TOURNAMENT INFO

Women’s World Twenty20 Qualifier

Jul 3- 14, in the Netherlands
The top two teams will qualify to play at the World T20 in the West Indies in November

UAE squad
Humaira Tasneem (captain), Chamani Seneviratne, Subha Srinivasan, Neha Sharma, Kavisha Kumari, Judit Cleetus, Chaya Mughal, Roopa Nagraj, Heena Hotchandani, Namita D’Souza, Ishani Senevirathne, Esha Oza, Nisha Ali, Udeni Kuruppuarachchi

Getting there and where to stay

Fly with Etihad Airways from Abu Dhabi to New York’s JFK. There's 11 flights a week and economy fares start at around Dh5,000.
Stay at The Mark Hotel on the city’s Upper East Side. Overnight stays start from $1395 per night.
Visit NYC Go, the official destination resource for New York City for all the latest events, activites and openings.

SHALASH THE IRAQI

Author: Shalash
Translator: Luke Leafgren
Pages: 352
Publisher: And Other Stories

Company Profile

Company name: Cargoz
Date started: January 2022
Founders: Premlal Pullisserry and Lijo Antony
Based: Dubai
Number of staff: 30
Investment stage: Seed