Behind Najda Street, residents hope to tighten parking regulations. In the neighbourhood, not even the sidewalks are free of violations. Lee Hoagland / The National
Behind Najda Street, residents hope to tighten parking regulations. In the neighbourhood, not even the sidewalks are free of violations. Lee Hoagland / The National

Parking restrictions rile residents



ABU DHABI // Najda Street residents drove home to a surprise earlier this month– newly erected “Villa Residents Only” parking signs.

And for these residents, who say they are already enduring a severe parking shortage, this surprise was not a pleasant one.

While the signs and meters have been fixed, and the pavements have been painted, the Mawaqif scheme is not yet enforced in the area. The Department of Transport (DoT) addressed residents’ concerns and said both villa-resident parking and regular-resident parking will be implemented in the coming months.

The villa-resident parking spots will be available to villa residents around the clock. Non-villa resident permit holders, however, will have priority parking between 9pm and 8am, which residents say is ineffective since they often return from work well before 9pm.

Non-villa residents in the area often resort to parking near the Etihad and Etisalat buildings at the corner of Muroor Road and Zayed the First Street, which can mean a 30-minute walk to their homes.

“I have a four year old and seven-month-old twins. Unloading the car and getting the children out is difficult at the best of times,” said Neil Turley, a resident in the area. “Parking on Muroor

Road near the Etisalat building is possible, but even more difficult as I have to push the stroller through the villa area all the way to 6th Street [Najda Street], on the road, in the heat, with the shopping.”

Residents said they were informed that a resident permit parking system would be implemented last Sunday; however, DoT officials said it would be enforced in the second quarter of this year.

In the new system, villa residents in the area between East Road and Najda Street, and between Al Falah Street and Zayed the Second Street, will have 583 dedicated parking spots.

However, many villa residents have already blocked the parking areas surrounding their homes with orange cones and concrete blocks.

“Last month I twice parked my car on the road in a designated blue/black area, but outside a villa,” Mr Turley said. “The first time the local residents came out and insulted me and tried to make me leave. The second time I found my car vandalised.

“One police officer said he couldn’t do anything.”

Officials from the DoT, Mawaqif’s governing body, said there is no normal parking sticker in the Mawaqif system anymore. Rather, residents will be given a virtual permit. Inspectors will be equipped with advanced hand-held computers connected to a central system, and will be able to identify the vehicles by license plate and enforce the rules accordingly. However, residents say this will only be effective if there are Mawaqif inspectors actively monitoring the area.

“You can find SUVs, dustbins and even boats parked illegally in resident-only parking spots,” said Jon VanWyk, another resident in the area. “Some of these large vehicles can take up to two or three parking spots at a time and they are not fined.”

Residents said they have been trying to seek help from Mawaqif, but are consistently ignored. The most common response from the agency, they said, is that the complaint has been registered but no further action is taken.

Several groups of residents are now forming action committees to tackle these parking issues. Mr VanWyk organised The Committee of Parking and Safety, which is working on a petition addressing parking issues in the area. The group recently met with the DoT.

“They explained their strategy and they were very helpful,” Mr VanWyk said. “But they told us the signs would be up and the system running on March 20.  They told us we would have no more parking problems after that.”

Mr VanWyk added that during the meeting, they were promised that the illegally parked dustbins and boat, which are taking up a number of parking spaces, would be removed in one week.

However, to date the dustbins are still in place, he said.

The number of double-parked vehicles and illegally parked cars is also creating an obstacle for emergency service vehicles. This was evident when a fire alarm went off in Mr VanWyk’s building last week, he said.

“Even the fire engines had limited access to the building as they wove their way through double-parked vehicles and a car that was parked in front of the fire hydrant.”

Meanwhile, residents continue to hope that their voices will be heard.

“I like living in Abu Dhabi, but I do not look forward to doing the same hourly drive just to find parking after working every day,” said Daniel Simon, another Najda street resident. “This is a city of cars, so make spaces for them.”

The specs

Engine: four-litre V6 and 3.5-litre V6 twin-turbo

Transmission: six-speed and 10-speed

Power: 271 and 409 horsepower

Torque: 385 and 650Nm

Price: from Dh229,900 to Dh355,000

The biog

Fast facts on Neil Armstrong’s personal life:

  • Armstrong was born on August 5, 1930, in Wapakoneta, Ohio
  • He earned his private pilot’s license when he was 16 – he could fly before he could drive
  • There was tragedy in his married life: Neil and Janet Armstrong’s daughter Karen died at the age of two in 1962 after suffering a brain tumour. She was the couple’s only daughter. Their two sons, Rick and Mark, consulted on the film
  • After Armstrong departed Nasa, he bought a farm in the town of Lebanon, Ohio, in 1971 – its airstrip allowed him to tap back into his love of flying
  • In 1994, Janet divorced Neil after 38 years of marriage. Two years earlier, Neil met Carol Knight, who became his second wife in 1994 
UAE currency: the story behind the money in your pockets

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.”

The smuggler

Eldarir had arrived at JFK in January 2020 with three suitcases, containing goods he valued at $300, when he was directed to a search area.
Officers found 41 gold artefacts among the bags, including amulets from a funerary set which prepared the deceased for the afterlife.
Also found was a cartouche of a Ptolemaic king on a relief that was originally part of a royal building or temple. 
The largest single group of items found in Eldarir’s cases were 400 shabtis, or figurines.

Khouli conviction

Khouli smuggled items into the US by making false declarations to customs about the country of origin and value of the items.
According to Immigration and Customs Enforcement, he provided “false provenances which stated that [two] Egyptian antiquities were part of a collection assembled by Khouli's father in Israel in the 1960s” when in fact “Khouli acquired the Egyptian antiquities from other dealers”.
He was sentenced to one year of probation, six months of home confinement and 200 hours of community service in 2012 after admitting buying and smuggling Egyptian antiquities, including coffins, funerary boats and limestone figures.

For sale

A number of other items said to come from the collection of Ezeldeen Taha Eldarir are currently or recently for sale.
Their provenance is described in near identical terms as the British Museum shabti: bought from Salahaddin Sirmali, "authenticated and appraised" by Hossen Rashed, then imported to the US in 1948.

- An Egyptian Mummy mask dating from 700BC-30BC, is on offer for £11,807 ($15,275) online by a seller in Mexico

- A coffin lid dating back to 664BC-332BC was offered for sale by a Colorado-based art dealer, with a starting price of $65,000

- A shabti that was on sale through a Chicago-based coin dealer, dating from 1567BC-1085BC, is up for $1,950

In numbers: PKK’s money network in Europe

Germany: PKK collectors typically bring in $18 million in cash a year – amount has trebled since 2010

Revolutionary tax: Investigators say about $2 million a year raised from ‘tax collection’ around Marseille

Extortion: Gunman convicted in 2023 of demanding $10,000 from Kurdish businessman in Stockholm

Drug trade: PKK income claimed by Turkish anti-drugs force in 2024 to be as high as $500 million a year

Denmark: PKK one of two terrorist groups along with Iranian separatists ASMLA to raise “two-digit million amounts”

Contributions: Hundreds of euros expected from typical Kurdish families and thousands from business owners

TV channel: Kurdish Roj TV accounts frozen and went bankrupt after Denmark fined it more than $1 million over PKK links in 2013 

Real estate tokenisation project

Dubai launched the pilot phase of its real estate tokenisation project last month.

The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.

Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.

Formula Middle East Calendar (Formula Regional and Formula 4)
Round 1: January 17-19, Yas Marina Circuit – Abu Dhabi
 
Round 2: January 22-23, Yas Marina Circuit – Abu Dhabi
 
Round 3: February 7-9, Dubai Autodrome – Dubai
 
Round 4: February 14-16, Yas Marina Circuit – Abu Dhabi
 
Round 5: February 25-27, Jeddah Corniche Circuit – Saudi Arabia