ABU DHABI // Remember where you were last night - some time in the next three weeks, you may need to.
Census workers begin knocking on doors throughout the emirate today in the first population survey for more than five years.
One of the aims is to create a snapshot of Abu Dhabi between sunset last night and sunset this morning, called Census Reference Night, with a count of every resident and every guest in every home.
To ensure accuracy, the census workers, or enumerators, will be equipped with the latest tablet computer technology. "The 2011 Census is the first time that people across the emirate will be providing their census information to enumerators using iPads," said Dr Yousif Al Hammadi, the project's methodology team leader.
"This allows the information to be safely and quickly sent back to the head office for analysis."
Residents will be asked for personal details including name, age, occupation, nationality and marital status. Thousands of paper forms have already been distributed in preparation for the door-to-door data collection and field work by 6,000 enumerators, which continues until October 27.
"The emirate is made up of a wide range of different sorts of people with different characteristics," Dr Al Hammadi said. "To help government departments and other providers of services understand more about them, it is important that everyone takes part.
"If we miss even small groups of the population, then their needs cannot be taken into account in planning for the future."
The information will be used in new ways. The Statistics Centre - Abu Dhabi (Scad) is developing online tools for users to access data on regional and local levels. "This will allow them to understand the characteristics of different parts of the emirate," Dr Al Hammadi said.
"Providing data at this level means government departments and others will have a much better idea of the needs of communities in different parts of the emirate."
Everyone is expected to participate in the census. If no one is at home when enumerators call, they will leave a note asking residents to make an appointment. Most details will be entered electronically, but residents can fill in the form and seal it in the envelope provided before the enumerator arrives.
Residents must provide real names to ensure no one is counted twice. Additionally, Scad will conduct research after the census to map the regions where Emirati and tribal groups have settled.
Each region poses its own challenges, necessitating special training for enumerators working off Abu Dhabi island.
"The Western Region contains a lot of farms and people living in remote areas," Dr Al Hammadi said. "In some parts of this region, enumerators will travel many kilometres to make sure everyone is counted."
In the capital, the challenge will be knocking on every door in large tower blocks and sprawling residential villa complexes.
Scad officials were reluctant to reveal expectations, but Dr Al Hammadi said the Government was looking forward to crunching the data and finding trends in the statistics. "All of this preparation and planning and studying methodology and training is finally going to be real," he said.
Provisional census results are expected in December and full results next year.
At least one resident will be prepared when the knock comes at his door. Adeeb Al Hammadi, 26, received the form several days ago at the Khalidiya apartment where he is staying while his home in Shahama is renovated, and has begun filling in the preliminary details.
"I wanted to fill it out before, but I haven't had time," he said.
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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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