Watch: Stunning drone footage reveals Expo 2020 Dubai site


Ramola Talwar Badam
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Spectacular drone footage of the Expo 2020 site has given a tantalising glimpse of what awaits people in three months.

Finishing touches are being put on structures across the site in the Dubai South area before the grand opening on October 1.

Footage shared by the Expo pans across the majestic Al Wasl Plaza, called the 'heartbeat' of the site.

  • A bird's eye view of the winged design of the Expo 2020 Metro Station that can be seen behind the gigantic Dubai Exhibition Centre. All photos courtesy Expo 2020 Dubai.
    A bird's eye view of the winged design of the Expo 2020 Metro Station that can be seen behind the gigantic Dubai Exhibition Centre. All photos courtesy Expo 2020 Dubai.
  • Opportunity Pavilion, one of three theme districts of Expo 2020 Dubai, lights up at night.
    Opportunity Pavilion, one of three theme districts of Expo 2020 Dubai, lights up at night.
  • A night view of the Opportunity Pavilion, one of three theme districts, that will draw visitors to connect in a plaza-themed interior.
    A night view of the Opportunity Pavilion, one of three theme districts, that will draw visitors to connect in a plaza-themed interior.
  • Drone footage shows a glimpse of country pavilions of the UAE, Morocco, Saudi and Spain at the Expo 2020 Dubai where more than 190 countries will participate during the six-month World Fair.
    Drone footage shows a glimpse of country pavilions of the UAE, Morocco, Saudi and Spain at the Expo 2020 Dubai where more than 190 countries will participate during the six-month World Fair.
  • Energy trees that capture power from the sun border the Sustainability Pavilion, one of the three main theme districts of Expo 2020 Dubai.
    Energy trees that capture power from the sun border the Sustainability Pavilion, one of the three main theme districts of Expo 2020 Dubai.
  • A screengrab showing how more than 1,000 solar panels cap the Sustainability Pavilion, in one of the main theme districts at the Expo 2020 Dubai.
    A screengrab showing how more than 1,000 solar panels cap the Sustainability Pavilion, in one of the main theme districts at the Expo 2020 Dubai.
  • Footage of the Al Wasl Plaza, called the crown jewel and centrepiece of the site.
    Footage of the Al Wasl Plaza, called the crown jewel and centrepiece of the site.
  • Rehearsal of a light show at the Al Wasl Plaza in Expo 2020 Dubai that promises dramatic displays every night when the World Fair opens in October.
    Rehearsal of a light show at the Al Wasl Plaza in Expo 2020 Dubai that promises dramatic displays every night when the World Fair opens in October.
  • A screengrab showing the Al Wasl Plaza at night where there will be spectacular light shows every night once the Expo 2020 opens in Dubai this year.
    A screengrab showing the Al Wasl Plaza at night where there will be spectacular light shows every night once the Expo 2020 opens in Dubai this year.
  • The Mobility Pavilion houses the world’s largest passenger lift that can carry more than 160 people at a time.
    The Mobility Pavilion houses the world’s largest passenger lift that can carry more than 160 people at a time.
  • Mobility is a major theme of the Expo 2020 Dubai and the pavilion will host demonstrations of autonomous vehicles, hoverboards and jetpacks.
    Mobility is a major theme of the Expo 2020 Dubai and the pavilion will host demonstrations of autonomous vehicles, hoverboards and jetpacks.

The massive dome sits in the centre of three themed districts – opportunity, mobility and sustainability.

The bird’s eye view offers a glimpse of the steel rings that cover the translucent dome.

Spectacular shots of the Dubai Metro line show it snaking into the gold-winged structure of the Expo 2020 Metro Station.

The camera then swoops over the vast Dubai Exhibition Centre that will host global exhibitions and concerts throughout the six-month World Fair.

When the drone hovers high over the gigantic roof of the Sustainability Pavilion, it gets close enough to capture each of the more than 1,000 solar panels that blanket the canopy.

Viewers can count the surrounding 18 "energy trees" that tilt back as they track the sun. The unique architecture ensures the solar cells store and generate sufficient alternative electricity to cover the pavilion’s requirements throughout the Expo.

Panoramic drone shots are mixed with street-level video of what it is like to walk along the shaded pathways built across the site.

Sheikh Abdullah bin Zayed, Minister of Foreign Affairs and International Co-operation, said during a visit to the site that Expo 2020 Dubai will be a global platform for a future full of opportunities.
Sheikh Abdullah bin Zayed, Minister of Foreign Affairs and International Co-operation, said during a visit to the site that Expo 2020 Dubai will be a global platform for a future full of opportunities.

The steps leading to the amphitheatre around the mobility pavilion are tucked in the shade of three arms of the stainless steel-rimmed building.

Once the World Fair opens, visitors can rest here or watch planned demonstrations featuring hoverboards and jet packs.

The footage also provides a peek into the "opportunity pavilion" with its layered glass panes stacked on top of each other.

Little has been revealed about the site's interior but the footage shows the terracotta plaza that aims to bring people together.

Even from a distance, standout country pavilions can be seen from the UAE’s winged falcon facade, the red and yellow colours of Spain’s tall cones, the expansive window of Saudi Arabia's structure that opens to the sky and the earthy rectangular blocks of Morocco’s offerings.

The footage shared by the Expo team also gives a sneak peek of the site at night with fairy lights framing the trees and the colourful beams illuminating Al Wasl Plaza.

The Expo will launch a mobile app so residents and tourists can keep up-to-date with information about the 60 events per day, from parades to workshops and firework displays.

World Expos usually take place every five years but Expo 2020 Dubai was delayed by a year due to the coronavirus pandemic and allowed to keep its original name.

Ten tax points to be aware of in 2026

1. Domestic VAT refund amendments: request your refund within five years

If a business does not apply for the refund on time, they lose their credit.

2. E-invoicing in the UAE

Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption. 

3. More tax audits

Tax authorities are increasingly using data already available across multiple filings to identify audit risks. 

4. More beneficial VAT and excise tax penalty regime

Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.

5. Greater emphasis on statutory audit

There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.

6. Further transfer pricing enforcement

Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes. 

7. Limited time periods for audits

Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion. 

8. Pillar 2 implementation 

Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.

9. Reduced compliance obligations for imported goods and services

Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations. 

10. Substance and CbC reporting focus

Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity. 

Contributed by Thomas Vanhee and Hend Rashwan, Aurifer

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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.”

The specs
  • Engine: 3.9-litre twin-turbo V8
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MATCH INFO

Uefa Champions League semi-final, first leg

Tottenham 0-1 Ajax, Tuesday

Second leg

Ajax v Tottenham, Wednesday, May 8, 11pm

Game is on BeIN Sports

'Shakuntala Devi'

Starring: Vidya Balan, Sanya Malhotra

Director: Anu Menon

Rating: Three out of five stars

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Scores in brief:

Day 1

New Zealand (1st innings) 153 all out (66.3 overs) - Williamson 63, Nicholls 28, Yasir 3-54, Haris 2-11, Abbas 2-13, Hasan 2-38

Pakistan (1st innings) 59-2 (23 overs)

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Engine: 6.2-litre supercharged V8

Power: 712hp at 6,100rpm

Torque: 881Nm at 4,800rpm

Transmission: 8-speed auto

Fuel consumption: 19.6 l/100km

Price: Dh380,000

On sale: now 

Manchester City transfers:

OUTS
Pablo Zabaleta, Bacary Sagna, Gael Clichy, Willy Caballero and Jesus Navas (all released)

INS
Ederson (Benfica) £34.7m, Bernardo Silva (Monaco) £43m 

ON THEIR WAY OUT?
Joe Hart, Eliaquim Mangala, Samir Nasri, Wilfried Bony, Fabian Delph, Nolito and Kelechi Iheanacho

ON THEIR WAY IN?
Dani Alves (Juventus), Alexis Sanchez (Arsenal)
 

Wicked: For Good

Director: Jon M Chu

Starring: Ariana Grande, Cynthia Erivo, Jonathan Bailey, Jeff Goldblum, Michelle Yeoh, Ethan Slater

Rating: 4/5

Updated: July 08, 2021, 1:41 PM