Engineers in Japan will carry out a series of spacecraft, rocket and weather-related tests over the next few days before the launch of the UAE’s Hope spacecraft in less than two weeks.
Already fuelled and ready to be placed in the fairing – an external structure that protects the spacecraft while on the rocket – Hope will be mounted on the H-IIA rocket next week.
Suhail AlDhafri, the deputy project manager of the mission and spacecraft lead, described what the launch day at Japan’s Tanegashima Space Centre will be like. He is one of about 15 other engineers who are on ground at the launch site, preparing for the lift off that will take place at 12.51am, UAE time, on July 15.
Weather and spacecraft checks
One of the most critical factors that will determine whether the launch will go ahead will be the weather conditions on the humid subtropical island.
“We cannot predict the launch weather from today, but we will be reviewing the weather three days before launch,” said Mr AlDhafri during a virtual press conference on Thursday.
On launch day, an hourly weather and spacecraft check will be carried out to ensure the lift off will be on time.
There are several weather tracking satellites across Japan, as well as on the Tanegashima island that track weather conditions.
The biggest one on the island is located about a five-minute drive away from the lift off site.
The Emirati engineers will be stationed at the control room centre on the island to monitor the launch.
They have used Japan’s launch facility before in 2018 for the KhalifaSat satellite.
Rocket roll out
The rocket is verticalized – the lift off position – ahead of time and is rolled out onto the launch pad in that manner.
It takes 30 minutes for the rocket to be transported to the lift off pad. The slow movement is to ensure the safety of the launch vehicle and spacecraft.
Responding to a question by The National, Mr AlDhafri said: "One day before the launch, there will be a weather, spacecraft and launch vehicle test. If these things are a go, then we will start moving the rocket from the assembly building to the launch point."
Project is in ‘launch campaign’ stage
The mission has reached the final stage before the lift off, which is when the spacecraft and launch vehicle are prepared for the big day.
Omran Al Sharaf, the project manager of the mission, said they reached a key milestone, as the spacecraft has been fuelled with 700 kgs of hydrogen.
“We are getting closer to the launch of the Emirates Mars Mission’s Hope probe,” he said.
“Throughout the launch campaign, there were different tests that took place – checking the batteries, solar panels status, scientific instruments and the overall command and communication subsystems we have.”
The spacecraft will be routinely checked until lift-off.
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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