Sharjah's population has grown by 22 per cent to 1.8 million, from 1.4 million in 2015, new census figures released on Wednesday show.
The overall population includes 208,000 Emirati citizens – 11.5 per cent of the total population – almost evenly divided at 103,000 males and 105,000 females.
Similar to 2015, the figures also reveal there are twice as many males as females in Sharjah's 1.6 million expat population – 1.2 million males, up 30 per cent from 2015, and 600,000 females, an increase of 22 per cent.
The census, which began in September, will shape the future of the emirate and its development plans, Sheikh Dr Sultan bin Muhammad Al Qasimi, Ruler of Sharjah, told local radio in October.
“It will help provide the information that is needed for wider studies, which will subsequently turn into projects, decrees, buildings and funding,” Sheikh Dr Sultan said.
The Department of Statistics and Community Development (DSCD) in Sharjah said the preliminary results were based on data collected from 10 towns, 97 suburbs, 356 districts and 7,961 residential blocks using latest technology and methods for data collection and analysis.
Sheikh Mohammed bin Humaid, chairman of DSCD, said more than 2,000 trained researchers had worked on the census and latest technology was used in the process.
“Sharjah is a big home for one diverse family and the census covered all layers of the community in Sharjah and all its sectors,” he said, speaking at the launch of the census and a ceremony held at the Al Jawaher Reception and Convention Centre.
"The census will have a strategic role in boosting development projects in the emirate as the results, which will be used to carry out further studies that will help improve life in the emirate, will be shared with the Ruler of Sharjah.”
Results show 61 per cent of the emirate’s population is employed – 1.1 million – a number that also increased by 22 per cent.
The number of young people at Sharjah educational institutions also increased by 23 per cent, from 253,000 to 310,000. The number includes 249,000 in private education and 61,000 in public education.
Age distribution
Those aged 20-39 make up the largest segment in the emirate with 914,000, which accounts for 51 per cent of the population.
The 40-59 age group is the next largest with 443,000 – representing 24 per cent. Those aged 19 and under account for 22 per cent of the population (399,000), while those aged over 60 represent only 3 per cent (55,000).
Sharjah city is home to the largest population with 1.6 million people. Khor Fakkan is the next largest with 53,000, followed by Kalba with 51,000, Al Dhaid 33,000, Al Hamriyah 19,000 and Al Madam 18,000.
The population of Dibba Al Hisn has grown to 15,000, Al Bataeh is home to 7,000, while 6,000 live in Mleiha.
The census results highlight the UAE's population boom.
The population of Dubai is projected to nearly double in the next 20 years, according to experts who predict a fresh wave of post-pandemic immigration.
Dubai Statistics Centre’s population counter, which records growth using residency visa data, showed the city hit 3.5 million in April 2022.
The emirate's population has since risen by a further 78,000 since then.
Fujairah has also experienced steady population growth in recent years.
The emirate's population increased from 292,358 in 2020 to 316,790 by the end of 2022, Fujairah Statistics Centre figures show.
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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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Omar Yabroudi's factfile
Born: October 20, 1989, Sharjah
Education: Bachelor of Science and Football, Liverpool John Moores University
2010: Accrington Stanley FC, internship
2010-2012: Crystal Palace, performance analyst with U-18 academy
2012-2015: Barnet FC, first-team performance analyst/head of recruitment
2015-2017: Nottingham Forest, head of recruitment
2018-present: Crystal Palace, player recruitment manager
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