An Expo 2020 Dubai chief is already gearing up to welcome the public back to the world's fair site - after a spectacular closing ceremony capped off an unforgettable six months
Ahmed Al Khatib, chief development and delivery officer for Expo 2020 Dubai, tells The National how the sprawling area will be transformed into a futuristic city where people can live, work and play.
What was Expo will soon welcome crowds again as District 2020 – providing a fitting legacy to the success of the global spectacle.
The most striking structures will remain in the Dubai South neighbourhood as will the two large parks, walking, cycle paths and restaurants in the city’s newest residential and business district.
Mr Al Khatib, Expo 2020 Dubai’s chief delivery officer, said the plan was to open up gradually.
“It will be in different phases, between now and October it should all open,” he told The National.
“Yes, the public can come in, so they can still can enjoy Terra, Mobility and other spaces.
“Our reopening will be done in phases because we want to open gradually.
“We need time to do the necessary transitioning to ensure the place is ready to integrate with the bigger city.”
Built to last from Day 1
Country pavilions will be dismantled and returned home as part of sustainability regulations that govern all world fairs.
“The physical site and of course the infrastructure will remain,” Mr Al Khatib said.
“The sustainability, mobility and opportunity pavilions are staying. Definitely the UAE pavilion, Al Wasl, the landscaping, the two parks, the exhibition centre, the water feature, the garden in the sky [observation tower] – all those were built to stay, since Day 1.”
These were references to the main pavilions that anchored the Expo – Terra, the disc-shaped sustainability pavilion; Alif, the mobility pavilion shaped like a fidget spinner; and the opportunity pavilion.
Other structures that will stay are Vision, the women’s pavilion, the UAE pavilion and a few other country pavilions.
Expo has previously said Terra would evolve into a children's and science centre that will be an educational attraction focused on green goals.
“What will be removed is just the security gates, signage, country pavilions,” Mr Al Khatib said.
“But the physical site, a lot, everything almost, will remain of what was built for Expo.”
Minutes away
The new neighbourhood will be the region’s first 15-minute city, with amenities in close proximity.
“So there is no reason for you to leave this city because you will have all your needs within 15 minutes from where you are,” Mr Al Khatib said.
“In terms of distance of your residence, work, park, gym, shopping, groceries, you are always within 15 minutes – also for your entertainment.
“It’s human-centric, the main factor was always the human experience for walkability, resting, shaded areas and the landscaping.”
The new district was planned from the outset to cater for residents.
This intention to build lasting structures was part of the bid document submitted in 2013 with the metro linked with a dedicated station.
Expo organisers studied earlier world fairs and visited the cities that hosted the events.
“We did look at the legacies of Shanghai, Milan and previous ones," Mr Al Khatib said.
“However, when it comes to Expo 2020 Dubai the approach is totally different.
“When we built Expo, the whole investment and vision was to build a future city and a legacy. That future city happened to host Expo.”
Must-visit destination
Art will hold a special space in the community with 11 art installations commissioned for the Expo that will stay.
“These are placed carefully in specific locations across the site so, during legacy, it will become not only a real estate destination, it will also be an art destination,” he said.
The public art programme includes Garden, an arresting marble inlay work with trees, streams and mountains and a recreation of life-size 11th-century implements to determine location that children and adults stop to examine.
Mr Al Khatib described the new space as a “must-visit” destination for all who loved the Expo.
“What will bring families here? Food, exploring, parks, entertainment, museums, everything is going to stay as you could see it during the Expo,” he said.
Mr Al Khatib said the enjoyment of visitors at the world fair was a treasured takeaway from his time spent working with the Expo for the past nine years.
“It has been amazing to see the reaction of the public, countries and participants from different groups coming to the Expo,” he said.
“In the morning you would see school kids interacting and playing. It’s priceless for all the hard work of the past years.”
He looked ahead to the future with mixed feelings.
“I don’t know should I be happy, should I be sad,” Mr Al Khatib said.
“I cannot imagine how I will feel on April 1.
“I’m sure it will be a time to reflect and relax and look forward to the next challenge.”
Ten Expo attractions that will stay as part of District 2020
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THE SPECS
Engine: 3-litre V6
Transmission: eight-speed automatic
Power: 424hp
Torque: 580 Nm
Price: From Dh399,000
On sale: Now
The rules on fostering in the UAE
A foster couple or family must:
- be Muslim, Emirati and be residing in the UAE
- not be younger than 25 years old
- not have been convicted of offences or crimes involving moral turpitude
- be free of infectious diseases or psychological and mental disorders
- have the ability to support its members and the foster child financially
- undertake to treat and raise the child in a proper manner and take care of his or her health and well-being
- A single, divorced or widowed Muslim Emirati female, residing in the UAE may apply to foster a child if she is at least 30 years old and able to support the child financially
THE SPECS
Engine: 1.5-litre, four-cylinder turbo
Transmission: seven-speed dual clutch automatic
Power: 169bhp
Torque: 250Nm
Price: Dh54,500
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Who's who in Yemen conflict
Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government
Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council
Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south
Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory
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Key changes
Commission caps
For life insurance products with a savings component, Peter Hodgins of Clyde & Co said different caps apply to the saving and protection elements:
• For the saving component, a cap of 4.5 per cent of the annualised premium per year (which may not exceed 90 per cent of the annualised premium over the policy term).
• On the protection component, there is a cap of 10 per cent of the annualised premium per year (which may not exceed 160 per cent of the annualised premium over the policy term).
• Indemnity commission, the amount of commission that can be advanced to a product salesperson, can be 50 per cent of the annualised premium for the first year or 50 per cent of the total commissions on the policy calculated.
• The remaining commission after deduction of the indemnity commission is paid equally over the premium payment term.
• For pure protection products, which only offer a life insurance component, the maximum commission will be 10 per cent of the annualised premium multiplied by the length of the policy in years.
Disclosure
Customers must now be provided with a full illustration of the product they are buying to ensure they understand the potential returns on savings products as well as the effects of any charges. There is also a “free-look” period of 30 days, where insurers must provide a full refund if the buyer wishes to cancel the policy.
“The illustration should provide for at least two scenarios to illustrate the performance of the product,” said Mr Hodgins. “All illustrations are required to be signed by the customer.”
Another illustration must outline surrender charges to ensure they understand the costs of exiting a fixed-term product early.
Illustrations must also be kept updatedand insurers must provide information on the top five investment funds available annually, including at least five years' performance data.
“This may be segregated based on the risk appetite of the customer (in which case, the top five funds for each segment must be provided),” said Mr Hodgins.
Product providers must also disclose the ratio of protection benefit to savings benefits. If a protection benefit ratio is less than 10 per cent "the product must carry a warning stating that it has limited or no protection benefit" Mr Hodgins added.
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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Avatar: Fire and Ash
Director: James Cameron
Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana
Rating: 4.5/5
HAJJAN
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UAE%20v%20West%20Indies
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How much do leading UAE’s UK curriculum schools charge for Year 6?
- Nord Anglia International School (Dubai) – Dh85,032
- Kings School Al Barsha (Dubai) – Dh71,905
- Brighton College Abu Dhabi - Dh68,560
- Jumeirah English Speaking School (Dubai) – Dh59,728
- Gems Wellington International School – Dubai Branch – Dh58,488
- The British School Al Khubairat (Abu Dhabi) - Dh54,170
- Dubai English Speaking School – Dh51,269
*Annual tuition fees covering the 2024/2025 academic year
GAC GS8 Specs
Engine: 2.0-litre 4cyl turbo
Power: 248hp at 5,200rpm
Torque: 400Nm at 1,750-4,000rpm
Transmission: 8-speed auto
Fuel consumption: 9.1L/100km
On sale: Now
Price: From Dh149,900
Results
2.15pm: Maiden (PA) Dh40,000 1,700m; Winner: AF Arrab, Antonio Fresu (jockey), Ernst Oertel (trainer).
2.45pm: Maiden (PA) Dh40,000 1,700m; Winner: AF Mahaleel, Antonio Fresu, Ernst Oertel.
3.15pm: Sheikh Ahmed bin Rashid Al Maktoum handicap (TB) Dh200,000 2,000m; Winner: Dolmen, Richard Mullen, Satish Seemar.
3.45pm: Handicap (PA) Dh40,000 1,200m; Winner: Amang Alawda, Sandro Paiva, Bakhit Al Ketbi.
4.15pm: The Crown Prince of Sharjah Cup Prestige (PA) Dh200,000 1,200m; Winner: AF Alwajel, Tadhg O’Shea, Ernst Oertel.
4.45pm: Handicap (PA) Dh40,000 2,000m; Winner: Al Jazi, Jesus Rosales, Eric Lemartinel.
Herc's Adventures
Developer: Big Ape Productions
Publisher: LucasArts
Console: PlayStation 1 & 5, Sega Saturn
Rating: 4/5
MEYDAN RESULTS
6.30pm Baniyas (PA) Group 2 Dh125,000 (Dirt) 1,400m
Winner ES Ajeeb, Sam Hitchcock (jockey), Ibrahim Aseel (trainer).
7.05pm Maiden (TB) Dh165,000 (D) 1,200m
Winner Galaxy Road, Antonio Fresu, Musabah Al Muhairi.
7.40pm Maiden (TB) Dh165,000 (D) 1,400m
Winner Al Modayar, Fernando Jara, Ali Rashid Al Raihe.
8.15pm Handicap (TB) Dh170,000 (D) 1,900m
Winner Gundogdu, Xavier Ziani, Salem bin Ghadayer.
8.50pm Rated Conditions (TB) Dh240,000 (D) 1,600m
Winner George Villiers, Tadhg O’Shea, Satish Seemar.
9.25pm Handicap (TB) Dh175,000 (D)1,200m
Winner Lady Parma, Connor Beasley, Satish Seemar
10pm Handicap (TB) Dh165,000 (D) 1,400m
Winner Zaajer, Fernando Jara, Ali Rashid Al Raihe
Russia's Muslim Heartlands
Dominic Rubin, Oxford
TECH%20SPECS%3A%20APPLE%20IPHONE%2014%20PLUS
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What is blockchain?
Blockchain is a form of distributed ledger technology, a digital system in which data is recorded across multiple places at the same time. Unlike traditional databases, DLTs have no central administrator or centralised data storage. They are transparent because the data is visible and, because they are automatically replicated and impossible to be tampered with, they are secure.
The main difference between blockchain and other forms of DLT is the way data is stored as ‘blocks’ – new transactions are added to the existing ‘chain’ of past transactions, hence the name ‘blockchain’. It is impossible to delete or modify information on the chain due to the replication of blocks across various locations.
Blockchain is mostly associated with cryptocurrency Bitcoin. Due to the inability to tamper with transactions, advocates say this makes the currency more secure and safer than traditional systems. It is maintained by a network of people referred to as ‘miners’, who receive rewards for solving complex mathematical equations that enable transactions to go through.
However, one of the major problems that has come to light has been the presence of illicit material buried in the Bitcoin blockchain, linking it to the dark web.
Other blockchain platforms can offer things like smart contracts, which are automatically implemented when specific conditions from all interested parties are reached, cutting the time involved and the risk of mistakes. Another use could be storing medical records, as patients can be confident their information cannot be changed. The technology can also be used in supply chains, voting and has the potential to used for storing property records.
Gulf Under 19s final
Dubai College A 50-12 Dubai College B
