Dubai Investments Park and Expo 2020 metro stations will be open on Route 2020 of the Metro Red Line from June 1.
The long-awaited move means trains will shuttle directly between Al Rashidiya metro station and the Expo 2020 station from this date.
Jebel Ali Station will be an interchange station for those heading to or coming from UAE Exchange Station – the last stop on the Red Line, the Roads and Transport Authority said.
But only those with clearance to access the Expo site in Dubai South will be permitted to use the two until the official opening of the World Fair in October.
The RTA announced the move on Saturday and said the underground Jumeirah Golf Estates station on the Expo route will open to coincide with the event’s launch in October.
“The opening of the two stations on Route 2020 concurs with the start of the countdown of Dubai’s hosting of Expo 2020,” said Mattar Al Tayer, director general of the RTA.
“It follows the successful completion of all tests relating to the performance efficiency and safety of the rail systems.”
Travel time between Al Rashidiya and Expo 2020 stations will be an hour and 14 minutes.
The frequency of trains will be two minutes and 28 seconds during peak hours on the main line between the Al Rashidiya and Expo 2020 route.
The new route serves districts populated by 270,000 people.
The two new stations were launched six months after the opening of Route 2020. The seven stations on the route are: Jebel Ali Station; The Gardens Station; Discovery Gardens Station; Al Furjan Station; Jumeirah Golf Estates Station; Dubai Investments Park Station; and Expo Station.
Only Jebel Ali; The Gardens; Discovery Gardens; and Al Furjan are open to the public for now.
Twenty-four trains with a capacity of 16,000 passengers will ply every hour in each direction during peak hours between Al Rashidiya and the Expo stations.
RTA studies show the Expo station will record about 35,000 daily visitors to the World Fair during weekdays with the numbers rising to 47,000 daily visitors at the weekend.
Travellers on the metro will account for 29 per cent of the expected daily visitors.
The Expo 2020 Station has a design resembling the wings of a plane to symbolise Dubai's innovation drive.
With three boarding platforms, the station will serve 29,000 passengers every hour during the peak hours and about 522,000 people per day.
It is linked with six bus stops, 20 taxi stands and four parking slots for people of determination.
The Dubai Investments Park station is underground with two platforms, four bus spots, 20 taxi stands and two parking slots for people with special needs.
It can accommodate 13,899 travellers per hour during the peak and 250,000 riders per day.
Jumeirah Golf Estates station is the biggest underground metro station across the metro network.
It has the capacity to handle 11,555 people an hour during peak travel and about 250,000 riders a day.
The RTA also announced the schedule for services from June, with the first train leaving Al Rashidiya and the Expo 2020 stations at 5am from Saturday to Wednesday and the last journey will be at midnight.
On Thursday, the first train will leave at 5am and the last at 1.30am the next day. The schedule for Friday is from 10am to 1.30am the next day.
The Green line service will begin at 5am with a frequency of five minutes during peak hours.
In numbers: China in Dubai
The number of Chinese people living in Dubai: An estimated 200,000
Number of Chinese people in International City: Almost 50,000
Daily visitors to Dragon Mart in 2018/19: 120,000
Daily visitors to Dragon Mart in 2010: 20,000
Percentage increase in visitors in eight years: 500 per cent
The biog
Name: Capt Shadia Khasif
Position: Head of the Criminal Registration Department at Hatta police
Family: Five sons and three daughters
The first female investigator in Hatta.
Role Model: Father
She believes that there is a solution to every problem
Bharat
Director: Ali Abbas Zafar
Starring: Salman Khan, Katrina Kaif, Sunil Grover
Rating: 2.5 out of 5 stars
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.”
Avatar: Fire and Ash
Director: James Cameron
Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana
Rating: 4.5/5
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: 3.9-litre twin-turbo V8
- Power: 640hp
- Torque: 760nm
- On sale: 2026
- Price: Not announced yet
COMPANY%20PROFILE
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Tuesday results:
- Singapore bt Malaysia by 29 runs
- UAE bt Oman by 13 runs
- Hong Kong bt Nepal by 3 wickets
Final:
Thursday, UAE v Hong Kong
The Freedom Artist
By Ben Okri (Head of Zeus)
Sweet%20Tooth
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Bookshops: A Reader's History by Jorge Carrión (translated from the Spanish by Peter Bush),
Biblioasis
What is graphene?
Graphene is extracted from graphite and is made up of pure carbon.
It is 200 times more resistant than steel and five times lighter than aluminum.
It conducts electricity better than any other material at room temperature.
It is thought that graphene could boost the useful life of batteries by 10 per cent.
Graphene can also detect cancer cells in the early stages of the disease.
The material was first discovered when Andre Geim and Konstantin Novoselov were 'playing' with graphite at the University of Manchester in 2004.
