Sheikh Hamdan bin Mohammed, Crown Prince of Dubai, has said government employees can work from home if their children are distance learning. Courtesy: Wam
Sheikh Hamdan bin Mohammed, Crown Prince of Dubai, has said government employees can work from home if their children are distance learning. Courtesy: Wam
Sheikh Hamdan bin Mohammed, Crown Prince of Dubai, has said government employees can work from home if their children are distance learning. Courtesy: Wam
Sheikh Hamdan bin Mohammed, Crown Prince of Dubai, has said government employees can work from home if their children are distance learning. Courtesy: Wam

Transport

Sheikh Hamdan announces plans to make Dubai a bicycle-friendly city

The Crown Prince of Dubai urged authorities to adopt global best practices to develop a bicycle-friendly infrastructure in the emirate

The National

August 13, 2020

  • English
  • Arabic

Dubai is set to become a bicycle-friendly city after new road safety laws and infrastructure to support riders is put in place, said Sheikh Hamdan bin Mohammed.

The Crown Prince of Dubai urged authorities to adopt global best practices to develop a bicycle-friendly infrastructure in the emirate.

The new announcement is in line with the objectives of Dubai Vision 2021, which aims to strengthen the city’s position as the world’s most preferred place to live, work and visit.

It also supports the objectives of the Dubai Traffic Strategy 2021 that seeks to reduce road fatalities and the UAE Energy Strategy 2050’s, which aims to achieve a 16 per cent reduction in carbon emissions by next year.

  • Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, with friends and family as they cycle around Dubai on August 9. Courtesy: Dubai Media Office
    Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, with friends and family as they cycle around Dubai on August 9. Courtesy: Dubai Media Office
  • Sheikh Mohammed paces down the city's cycle paths. Courtesy: Dubai Media Office
    Sheikh Mohammed paces down the city's cycle paths. Courtesy: Dubai Media Office
  • Sheikh Mohammed bin Rashid travelled down the cycle path by the city's canal and in to Downtown. Courtesy: Dubai Media Office
    Sheikh Mohammed bin Rashid travelled down the cycle path by the city's canal and in to Downtown. Courtesy: Dubai Media Office
  • Sheikh Mohammed is an avid cyclist who is often seen at Al Qudra desert track. Courtesy: Dubai Media Office
    Sheikh Mohammed is an avid cyclist who is often seen at Al Qudra desert track. Courtesy: Dubai Media Office
  • The group pose for a photo by the canal bridge waterfall near Business Bay. Courtesy: Dubai Media Office
    The group pose for a photo by the canal bridge waterfall near Business Bay. Courtesy: Dubai Media Office
  • All of Sheikh Mohammed's entourage had cycling helmets on. Courtesy: Dubai Media Office
    All of Sheikh Mohammed's entourage had cycling helmets on. Courtesy: Dubai Media Office
  • Dubai now has hundreds of kilometres of cycle tracks after investment in recent years. Courtesy: Dubai Media Office
    Dubai now has hundreds of kilometres of cycle tracks after investment in recent years. Courtesy: Dubai Media Office
  • Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, and family cycle around Dubai on Thursday. Courtesy: Dubai Media Office
    Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, and family cycle around Dubai on Thursday. Courtesy: Dubai Media Office
  • Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, and family cycle around Dubai on Thursday. Courtesy: Dubai Media Office
    Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, and family cycle around Dubai on Thursday. Courtesy: Dubai Media Office
  • Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, and family cycle around Dubai on Thursday. Courtesy: Dubai Media Office
    Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, and family cycle around Dubai on Thursday. Courtesy: Dubai Media Office
  • Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, and family cycle around Dubai on Thursday. Courtesy: Dubai Media Office
    Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, and family cycle around Dubai on Thursday. Courtesy: Dubai Media Office
  • Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, and family cycle around Dubai on Thursday. Courtesy: Dubai Media Office
    Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, and family cycle around Dubai on Thursday. Courtesy: Dubai Media Office

The announcement was made at a Dubai Police event on Thursday.

The participants at the event suggested forming a task force that can work on developing the infrastructure, promoting a bicycle culture and introducing rules and laws that will ensure the safety of cyclists.

On August 9, Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, was seen cycling around the city with friends and aides before stopping to pray on the roadside.

The images, shared widely on social media, showed Sheikh Mohammed and a group of almost 20 friends and family cycle past the Dubai Canal, using a dedicated cycling path and wearing helmets.

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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.

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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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