UAE has best road quality but could do better on congestion



DUBAI // The UAE may be ranked number one in the world for road quality but it lags behind other nations when it comes to road safety and traffic congestion, new data shows.

Study results published by the Centre for Economics and Business Research (CEBR), one of the UK’s leading economic consultants, showed the UAE as the world leader in road-building.

It was followed by Singapore, Hong Kong, the Netherlands, Japan, France, Switzerland and Austria. The US was 13th, Germany was 16th and Spain was 17th on the list.

Roads in Oman also featured highly, ranking 19th of the overall list ahead of Britain (27th), Malaysia (20th), Namibia (23rd) and Ecuador (24th).

Despite the standards of roads in the UAE, it performs poorly in congestion and traffic accidents.

Roshanara Sait has hosted more than 40 road-safety events in the UAE in her role as director of Ciel Marketing & Events, a firm working with police in Abu Dhabi, Dubai and Sharjah and the Roads & Transport Authority.

Harsher prosecutions for bad driving will help halt rising accident numbers, she said.

“Stricter law enforcement is the solution and the local authorities are working towards this,” she said.

“They have recently introduced state-of-the-art cameras and increased police patrols on the roads. The traffic prosecution department follows a stringent non-leniency attitude towards reckless and traffic offenders.

“These measures together with the road safety awareness campaigns should certainly improve road user behaviour, which will help make UAE roads safer.”

The road quality ranking is an improvement on a 2012 report published by the World Economic Forum that showed the UAE second on a list behind France as having the best roads in the world.

On a scale of 1 to 7, with countries scoring 1 having extremely underdeveloped roads to those scoring 7 with extensive and efficient roads, the UAE scored 6.5, ahead of Singapore, Portugal and Oman in the top five.

Although the UAE may have the best roads, it does not score as highly when it comes to traffic.

A study by Inrix, a traffic analyst and consultancy, suggested Dubai is 174th on the list of 1,064 cities in the world for traffic, where in 2016 drivers spent 11 per cent of their driving time sitting in congestion.

Al Ain, the only other UAE city to feature in the figures, ranked better at 514th on the congestion list.

Recent bad weather has caused chaos on the roads and highlighted poor driving, with more than 1,100 road accidents recorded in Dubai last weekend.

Dubai Police’s control room received 15,308 emergency calls and recorded 1,163 traffic accidents, with many driving erratically in poor weather conditions.

nwebster@thenational.ae

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More than 2.2 million Indian tourists arrived in UAE in 2023
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Favourite book: You Are the Placebo – Making your mind matter, by Dr Joe Dispenza

Hobby: Running and watching Welsh rugby

Travel destination: Cyprus in the summer

Life goals: To be an aspirational and passionate University educator, enjoy life, be healthy and be the best dad possible.

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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Name: Kumulus Water
 
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Group A: Palmeiras, Porto, Al Ahly, Inter Miami.

Group B: Paris Saint-Germain, Atletico Madrid, Botafogo, Seattle.

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Group G: Manchester City, Wydad, Al Ain, Juventus.

Group H: Real Madrid, Al Hilal, Pachuca, Salzburg.

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Schedule in UAE time

5pm: Mohamed Yousuf Naghi Motors Cup (Turf), 5.35pm: 1351 Cup (T), 6.10pm: Longines Turf Handicap (T), 6.45pm: Obaiya Arabian Classic for Purebred Arabians (Dirt), 7.30pm: Jockey Club Handicap (D), 8.10pm: Samba Saudi Derby (D), 8.50pm: Saudia Sprint (D), 9.40pm: Saudi Cup (D)

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'Worse than a prison sentence'

Marie Byrne, a counsellor who volunteers at the UAE government's mental health crisis helpline, said the ordeal the crew had been through would take time to overcome.

“It was worse than a prison sentence, where at least someone can deal with a set amount of time incarcerated," she said.

“They were living in perpetual mystery as to how their futures would pan out, and what that would be.

“Because of coronavirus, the world is very different now to the one they left, that will also have an impact.

“It will not fully register until they are on dry land. Some have not seen their young children grow up while others will have to rebuild relationships.

“It will be a challenge mentally, and to find other work to support their families as they have been out of circulation for so long. Hopefully they will get the care they need when they get home.”

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6.30pm: Mazrat Al Ruwayah – Group 2 (PA) $36,000 (Dirt) 1,600m, Winner: RB Money To Burn, Tadhg O’Shea (jockey), Eric Lemartinel (trainer)

7.05pm: Handicap (TB) $68,000 (Turf) 2,410m, Winner: Star Safari, William Buick, Charlie Appleby

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8.15pm: Al Maktoum Challenge Round 2 - Group 2 (TB) $293,000 (D) 1,900m, Winner: Salute The Soldier, Adrie de Vries, Fawzi Nass

8.50pm: Al Rashidiya – Group 2 (TB) $163,000 (T) 1,800m, Winner: Zakouski, William Buick, Charlie Appleby

9.25pm: Handicap (TB) $65,000 (T) 1,000m, Winner: Motafaawit, Sam Hitchcock, Doug Watson

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Uefa Champions League semi-final, first leg

Tottenham v Ajax, Tuesday, 11pm (UAE).

Second leg

Ajax v Tottenham, Wednesday, May 8, 11pm

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