Jebel Ali Village, which stands near Ibn Battuta Mall, was built in 1977 to house some of the few expatriates who then lived in Dubai. Paulo Vecina / The National
Jebel Ali Village, which stands near Ibn Battuta Mall, was built in 1977 to house some of the few expatriates who then lived in Dubai. Paulo Vecina / The National

Nakheel pledge on villa renewal at Dubai Jebel Ali Village



DUBAI // A developer has reassured prospective tenants that the 36-year-old villas it is refurbishing at Jebel Ali Village will meet top quality standards despite five years of neglect.
Nakheel had originally planned to demolish the homes in 2008 and replace them with apartment blocks, and more than 300 families had to move out.
The project was dropped because of the economic downturn, and the villas remained empty. They are now being restored to be rented out again.
"I think it's good that the villas are back on the rental market, that they're actually utilising them," said Linda Pearson, who lived at the village for 17 years. "It's a good thing that they're not going to pull it down and they're going to let people live in it.
"My reservation would be, what damage is done to a property, especially in a very hot climate, when it's not used for five years, when the sewage system and all the rest of it are not used for five years?
"Moving back is something I'd consider, but I'd need to feel happy that the whole infrastructure was back up and running."
Nakheel said: "We undertook a full research and analysis project for the restoration of these villas, engaging a consultant to define the exact scope of repairs needed before appointing contractors to carry out the work. We are meeting all standards required by the relevant authorities.
"The villas are in big demand, more than 400 people - many of whom used to live in Jebel Ali Village before - have registered their interest."
The village near Ibn Battuta Mall was built in 1977 to house some of the few expatriates who then lived in Dubai.
Former tenants remember it fondly, and many have recorded their feelings on online forums.
One said: "I was a resident of the village for 17 years, brought up my kids there, built up my home and garden, had pets . you know it was a real home." Another said: "There was something very special about the village and the people who lived and worked there."
Ms Pearson, 60, from the UK, said: "I was very happy because it was a lovely community, there were lots of people around, they had the swimming pool, gym, restaurants - all that. It did have a very good community feel.
"It was very sad that they wanted to pull it down. It was at the crest of the property boom. I think it was a great loss, a community that was just killed dead over a few months. It would be lovely to open it up again.
"But I would have reservations about going back, because going back to anywhere where you were very happy may not be the best move. There are all sorts of considerations like that. And of course it's much busier around there, the road access is much more difficult now.
"The evening traffic coming off Sheikh Zayed Road is quite bad now but add another several hundred houses and the road infrastructure would need looking at as well."
Ms Pearson, who runs her own language school, now lives in the Springs. Her standout memories of the village include watching a Buddy Holly tribute band at the Jebel Ali Recreation Club, camels wandering into her garden, gazelles on the hillside and a powerful storm that battered the village in 1997.
"A bit of my heart is still in Jebel Ali Village," she said.
csimpson@thenational.ae

The specs

Engine: 6.2-litre supercharged V8

Power: 712hp at 6,100rpm

Torque: 881Nm at 4,800rpm

Transmission: 8-speed auto

Fuel consumption: 19.6 l/100km

Price: Dh380,000

On sale: now 

What it means to be a conservationist

Who is Enric Sala?

Enric Sala is an expert on marine conservation and is currently the National Geographic Society's Explorer-in-Residence. His love of the sea started with his childhood in Spain, inspired by the example of the legendary diver Jacques Cousteau. He has been a university professor of Oceanography in the US, as well as working at the Spanish National Council for Scientific Research and is a member of the World Economic Forum’s Global Future Council on Biodiversity and the Bio-Economy. He has dedicated his life to protecting life in the oceans. Enric describes himself as a flexitarian who only eats meat occasionally.

What is biodiversity?

According to the United Nations Environment Programme, all life on earth – including in its forests and oceans – forms a “rich tapestry of interconnecting and interdependent forces”. Biodiversity on earth today is the product of four billion years of evolution and consists of many millions of distinct biological species. The term ‘biodiversity’ is relatively new, popularised since the 1980s and coinciding with an understanding of the growing threats to the natural world including habitat loss, pollution and climate change. The loss of biodiversity itself is dangerous because it contributes to clean, consistent water flows, food security, protection from floods and storms and a stable climate. The natural world can be an ally in combating global climate change but to do so it must be protected. Nations are working to achieve this, including setting targets to be reached by 2020 for the protection of the natural state of 17 per cent of the land and 10 per cent of the oceans. However, these are well short of what is needed, according to experts, with half the land needed to be in a natural state to help avert disaster.

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.”

Singham Again

Director: Rohit Shetty

Stars: Ajay Devgn, Kareena Kapoor Khan, Ranveer Singh, Akshay Kumar, Tiger Shroff, Deepika Padukone

Rating: 3/5

'The Lost Daughter'

Director: Maggie Gyllenhaal

Starring: Olivia Colman, Jessie Buckley, Dakota Johnson

Rating: 4/5

How to protect yourself when air quality drops

Install an air filter in your home.

Close your windows and turn on the AC.

Shower or bath after being outside.

Wear a face mask.

Stay indoors when conditions are particularly poor.

If driving, turn your engine off when stationary.

The specs

Engine: Dual 180kW and 300kW front and rear motors

Power: 480kW

Torque: 850Nm

Transmission: Single-speed automatic

Price: From Dh359,900 ($98,000)

On sale: Now

RESULT

Liverpool 4 Southampton 0
Jota (2', 32')
Thiago (37')
Van Dijk (52')

Man of the match: Diogo Jota (Liverpool)

How to wear a kandura

Dos

  • Wear the right fabric for the right season and occasion 
  • Always ask for the dress code if you don’t know
  • Wear a white kandura, white ghutra / shemagh (headwear) and black shoes for work 
  • Wear 100 per cent cotton under the kandura as most fabrics are polyester

Don’ts 

  • Wear hamdania for work, always wear a ghutra and agal 
  • Buy a kandura only based on how it feels; ask questions about the fabric and understand what you are buying
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Honeymoonish
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Indoor cricket in a nutshell
Indoor Cricket World Cup - Sept 16-20, Insportz, Dubai

16 Indoor cricket matches are 16 overs per side
8 There are eight players per team
9 There have been nine Indoor Cricket World Cups for men. Australia have won every one.
5 Five runs are deducted from the score when a wickets falls
4 Batsmen bat in pairs, facing four overs per partnership

Scoring In indoor cricket, runs are scored by way of both physical and bonus runs. Physical runs are scored by both batsmen completing a run from one crease to the other. Bonus runs are scored when the ball hits a net in different zones, but only when at least one physical run is score.

Zones

A Front net, behind the striker and wicketkeeper: 0 runs
B Side nets, between the striker and halfway down the pitch: 1 run
C Side nets between halfway and the bowlers end: 2 runs
D Back net: 4 runs on the bounce, 6 runs on the full