Nursery opens for Emirati mothers working for Dubai Municipality


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DUBAI // Emirati mothers who work at Dubai Municipality now have a free office nursery for their children.
It is hoped the nursery will give working mothers peace of mind by enabling them to be closer to their children.
"It offers the flexibility to the mothers to have their children in trusted care within the same premises," said municipality director general Hussain Lootah. "Proximity to their little ones helps them concentrate on their work while increasing their productivity."
The nursery at the municipality's headquarters in Deira is a branch of the British Orchard nursery and is the group's fourth branch at a government office.
Seven years ago the federal Cabinet required nurseries at all federal and local government departments with more than 50 female staff, or where female staff had more than 20 children in total.
"We are delayed because of internal procedures but we were determined to complete the project," said Zobaida Sharif, who is overseeing the nursery.
The nursery is available only to Emirati mothers in the municipality's main building who have children below the age of four. Nevertheless, it is vastly oversubscribed.
More than 150 mothers meet the criteria, but because of space restrictions only 30 have been able to enrol their children.
"We had to set criteria for admission as the project could not accommodate all our female employees," said Mrs Sharif, and priority was given to the longest serving workers.
Those who did get a place are delighted. "I am one of the few lucky ones who have been granted this opportunity. This is something we have been waiting for for a long time for - like a dream that has now been realised," said Mona Alemadi, who works at the finance department and has a two-year-old girl.
"Last year it was a difficult time for me. I was always worried about my daughter as I was leaving her alone with the nanny, but now I will be able to concentrate better at work," she said, and the project had encouraged her and her husband to try for another baby.
"I was never going to even think of having a third child because of all the stress of having to leave them and come back to work - but now the situation will be different," she said.
The youngest child at the nursery is aged three months.
Female staff who commute from other emirates also welcomed the move.
"This is a very important step for us," said Latifa Alawadi, from Sharjah, who has a 10-month-old. "I would not have been able to take my baby to an independent nursery even if I wanted to as I leave very early before any of them are open."
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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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Our legal advisor

Ahmad El Sayed is Senior Associate at Charles Russell Speechlys, a law firm headquartered in London with offices in the UK, Europe, the Middle East and Hong Kong.

Experience: Commercial litigator who has assisted clients with overseas judgments before UAE courts. His specialties are cases related to banking, real estate, shareholder disputes, company liquidations and criminal matters as well as employment related litigation. 

Education: Sagesse University, Beirut, Lebanon, in 2005.

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