ABU DHABI //As the emirate's population continues to grow, more residents are choosing to remain in the country - even in death.
To meet this need, the municipality has opened four new cemeteries in the emirate this year. This month, a graveyard in Al Samha opened for the residents of communities north-east of the capital.
The new cemeteries, including one in Baniyas that is designated for non-Muslims, mean the capital will have sufficient burial space for approximately 30 years.
Khaleefa Al Romaithi, the director of public health for the municipality, said Al Samha cemetery will be able to accommodate 3,000 graves, but other smaller cemeteries will cater to the needs of the emirate's diverse population.
"We have people coming here from around the world," Mr Al Romaithi said.
"We want to be able to have a place for people of all nationalities and traditions."
RevAndrew Thompson, the chaplain of St Andrew's Church in Abu Dhabi, said most Christians choose to have their remains repatriated, but those who prefer to be buried in the emirate will be able to, in one of two non-Muslim cemeteries in the capital.
"Anyone who is not Muslim can be buried there according to their own rites and traditions," Rev Thompson said.
St Andrew's oversees Umm Al Nar, a 40-year-old Christian cemetery built on land provided by Sheikh Zayed, the founding President of the UAE, which will soon be at capacity.
The new Baniyas cemetery, located behind one designated for Muslims, will also be able to host funerals.
Six cemeteries built on Abu Dhabi island are full, and all future cemeteries will be built on the mainland, Mr Al Romaithi said.
In Al Ain, the emirate's first modern crematorium will open within the next two months. The site, in Al Foah, will be open to non-Muslims and will feature a chapel, offices and a waiting area, along with a cemetery.
Developed by Al Ain municipality, the crematorium will primarily cater to the emirate's Hindu community, though all religions will be welcomed.
"Everybody is helping everybody," said Sarvotham Shetty, the former president of the India Social Centre. "This shows that everyone is supporting each other."
Cremations are tied to residency visas, so residents of other emirates are not able to use the services at the country's only other licensed crematorium, in Dubai.
For five years, the capital's Hindu community has used an incinerator in Al Dhafra, but Al Foah crematorium will be bigger and will allow for funerals on site.
The New Medical Centre helps local Hindus arrange for cremation services if the body cannot be repatriated. In some cases, the centre will waive some of the costs of cremation and the cost of repatriating those remains.
"There are many cases where people cannot afford to be returned home or it is inconvenient for them or sometimes there is no one in their home country to receive them," said Ravi Rai, who works with families at the centre.
At weekends, the chapel at Al Foah will be home to the St Thomas Anglican congregation in Al Ain. The Right RevMichael Lewis, the Anglican bishop of Cyprus and the Gulf, will bless and dedicate the Al Foah site on October 13.
Abu Dhabi Municipality also recently launched a campaign to reorganise and clean cemeteries that had been neglected after being closed.
The campaign included the clean-up of trees and rubbish and the repair of walls and signage.
Security guards have been assigned to each cemetery and new lighting has been installed.
jthomas@thenational.ae
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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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Fast facts on Neil Armstrong’s personal life:
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Our family matters legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.