Crown Prince of Dubai launches mission to turn UAE into global 3D printing centre

Sheikh Hamdan bin Mohammed, Crown Prince of Dubai, has launched an ambitious campaign to turn the UAE into a global centre for 3D printing.

Sheikh Hamdan unveiled the 3D Printing Strategic Alliance on Sunday, bringing together government organisations, academics and businesses in the UAE and around the globe.

The partnership was created to produce a wide variety of goods.

The growing importance of the 3D-printing industry has been underlined by the pandemic.

Universities and local companies used the technology to meet an urgent need for face shields in health care and the police.

Sheikh Hamdan made the announcement during a visit to Dubai Future Foundation, a government body of which he is chairman of the board of trustees.

He was accompanied by dignitaries including Mohammed Al Gergawi, Minister of Cabinet Affairs, and Omar Al Olama, Minister of State for Digital Economy, AI and Remote Working System.

“Today we launched the 3D Printing Strategic Alliance to provide a platform that unites all entities working in this vital sector," Sheikh Hamdan said.

"Our goal is to accelerate the adoption and use of this emerging technology to support all governmental, economic, health and scientific sectors in Dubai and the world.

“Through the Alliance and in co-operation with 3D-printing companies, we will enhance our industrial capabilities, secure our basic needs and create new production lines based on the employment of future technology.

“We will also create a strategic virtual network jointly with the private sector to ensure immediate response to local needs during crises and achieve self-sufficiency.”

Sheikh Hamdan issued directives to establish a district for the development, testing and use of 3D-printing technology.

It will host research centres, international companies, start-ups, applied engineering firms and business accelerator programmes for the emerging technology.

The district will include the largest warehouse in the region for the storage and distribution of 3D-printing equipment and materials.

“We want Dubai to be a global reference for 3D printing technology worldwide in the coming years by strengthening public-private partnership,” Sheikh Hamdan said.

The alliance will initially focus on increasing the capacity for making medical supplies and equipment to support frontline workers battling the coronavirus.

Dubai is laying foundations for the future of its construction industry.

In October, the world’s largest 3D-printed building was completed in Al Warsan.

After a year of testing to ensure the project met strict building standards, it opened as a centre for innovation run by Dubai Municipality.

It is listed in Guinness World Records as the first two-storey 3D-printed building.

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Ways to control drones

Countries have been coming up with ways to restrict and monitor the use of non-commercial drones to keep them from trespassing on controlled areas such as airports.

"Drones vary in size and some can be as big as a small city car - so imagine the impact of one hitting an airplane. It's a huge risk, especially when commercial airliners are not designed to make or take sudden evasive manoeuvres like drones can" says Saj Ahmed, chief analyst at London-based StrategicAero Research.

New measures have now been taken to monitor drone activity, Geo-fencing technology is one.

It's a method designed to prevent drones from drifting into banned areas. The technology uses GPS location signals to stop its machines flying close to airports and other restricted zones.

The European commission has recently announced a blueprint to make drone use in low-level airspace safe, secure and environmentally friendly. This process is called “U-Space” – it covers altitudes of up to 150 metres. It is also noteworthy that that UK Civil Aviation Authority recommends drones to be flown at no higher than 400ft. “U-Space” technology will be governed by a system similar to air traffic control management, which will be automated using tools like geo-fencing.

The UAE has drawn serious measures to ensure users register their devices under strict new laws. Authorities have urged that users must obtain approval in advance before flying the drones, non registered drone use in Dubai will result in a fine of up to twenty thousand dirhams under a new resolution approved by Sheikh Hamdan bin Mohammed, Crown Prince of Dubai.

Mr Ahmad suggest that "Hefty fines running into hundreds of thousands of dollars need to compensate for the cost of airport disruption and flight diversions to lengthy jail spells, confiscation of travel rights and use of drones for a lengthy period" must be enforced in order to reduce airport intrusion.

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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.”