As the centrepiece of Europe's largest urban regeneration, Battersea Power Station has come a long way from a symbol of post-industrial blight to a luxurious enclave promising spectacular lifestyle choices on the banks of the Thames.
Look east from the balconies of the penthouse apartments set snugly between the four towering white chimneys of the former electricity plant and a river snakes past the Houses of Parliament, the London Eye plus many skyscrapers, including the arrow-like Shard.
Work on the all-brick power station has been completed this summer and an army of outfitters has moved into the two central halls, where dozens of shops and retail outlets are set to open before the end of the year.
Plonked on top is the 18-duplex, £7m ($8.6m) Sky Villas, where the rooftops offer an unrivalled outdoor entertaining space.
The heritage of the building has been preserved in the works. A glance upwards reveals the former station operating room, while a look sideways shows the preserved tiling of an Art Deco-era original fit-out.
When The National visited the 17-hectare former industrial brownfield site, the first main street retailer — one of the more than 100 shops — had just erected its shopfront sign above the door.
To crane your neck backwards at the lifts to the Sky Villas is to look up to the sky through a distinctive white chimney.
The Grade II-listed monumental features were rebuilt section by section (using wheelbarrows) from scratch. When a viewing platform opens, one of the chimney lifts will carry visitors to a height 109 metres above sea level.
Two other chimneys fulfil their historic function carrying off steam from the power generation units beneath the building.
The development was only removed from Historic England’s Heritage at-risk register before its full opening to the public after the owners, a consortium of Malaysian investors, agreed to put the funding for restoration in a special bank account overseen by the local planners.
The latest phase to open to residents boasts the unique for London experience of living in a space designed by the Los Angeles based Frank Gehry, the architect behind the Guggenheim Abu Dhabi museum set to open in 2025.
Prospect Place is a cluster of towers that is bounded by the shops and offices of Electric Boulevard, which leads to the area's own underground station. It recently marked two million passengers since opening.
As with all Gehry properties, no two rooms are the same and the building quality is particular to each apartment.
The corridors to the apartments are laid with distinctive dappled red carpet that is the signature of other properties from the LA studio.
Private roof gardens give the residents a vantage point on a power chimney that will surely feature in many Instagram posts.
The Gehry towers stand next to a Foster and Partners roof gardens building, which sits on the other side of the boulevard.
There are suggestions that the two great architects played off each other in designing cheek by jowl properties for the first time.
There are more than 2,000 residents scattered across the development, while in recent weeks the number of building workers has dropped from 4,000 to just 800 outfitters.
How Battersea kept London lit during the Blitz
One of the most heavily defended sites in London during the Second World War, Battersea Power Station kept the lights of the city on during the Blitz.
Barges carried the coal that fired its turbines to be offloaded on what is now a boardwalk on the river.
The Art Deco features of Control Room A have survived and is now a hospitality space for hire. Apple is anchor tenant in the power station.
First approved by planners at the local council in 2010, the £9bn project broke ground in 2013 when work commenced on the first phase of the eight-phase project to build a new mixed-use neighbourhood and business quarter south of the river on derelict land.
It was an enterprise with a track record of failure until that point. One owner had wanted to build an adventure playground and had ripped off the roof before running out of money.
The property somehow kept its hold on the public imagination in London, not least because of the artwork associated with Pink Floyd's Animals album.
The psychedelic rock band who sang about London's decline and social decay floated a giant pink pig between its chimneys in November 1976.
The completed project will have 25,000 people living and working on the site, making it one of London’s largest office, retail, leisure and cultural quarters with 250 shops and cafes, restaurants, a theatre, hotel and cinemas, as well as 7.68 hectares of public space, including a park.
For the developers, this feeling of a new neighbourhood is the one that is now drawing most attention.
"The apartments are one thing but the mixed use elements of this 15-minute neighbourhood is what really appeals," said Matthew Sansom, director of residential sales.
"Having the Tube, having the retail, having the food and beverage as the power station comes into its own.
"It's a completely new area but we've got the building that anchors the site, Battersea Park on our doorstep, which has always been popular with residents of Chelsea, and Apple being based here, and a further 200,000 square feet of office space coming onstream."
Any visitor to the area remains compelled by the old power station building, which was derelict and open to the elements when the current owners took over the project in 2013.
The original supplier oversaw the creation of a special new "Battersea Blend" brick to replace some of the original six million used in the main building.
Now rebuilt using 1.75 million new bricks, the turbine halls that once powered south and west London have been revived in minimalist style.
Inside there are natural light wells and a feature called the bandstand, which hangs from the ceiling and was formerly a moving crane that carried coal across the cavernous interior.
"It's a space where we can put musicians, we can put a car in there, we can advertise anything and it goes up and down the space," says one of the marketing team. "It's a very cool addition."
The frequency of trains at the Battersea Power Station Tube station on the Northern Line has been raised to 12 an hour during the day and Tottenham Court Road, where the new Elizabeth Line connects, is just 23 minutes away.
"It’s a massive unlocking of the neighbourhood," said Mr Sansom. "Autumn will be a very big moment."
Battersea Power Station through the years - in pictures
WORLD CUP FINAL
England v South Africa
Yokohama International Stadium, Tokyo
Saturday, kick-off 1pm (UAE)
Avatar: Fire and Ash
Director: James Cameron
Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana
Rating: 4.5/5
The President's Cake
Director: Hasan Hadi
Starring: Baneen Ahmad Nayyef, Waheed Thabet Khreibat, Sajad Mohamad Qasem
Rating: 4/5
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What can victims do?
Always use only regulated platforms
Stop all transactions and communication on suspicion
Save all evidence (screenshots, chat logs, transaction IDs)
Report to local authorities
Warn others to prevent further harm
Courtesy: Crystal Intelligence
'Gehraiyaan'
Director:Shakun Batra
Stars:Deepika Padukone, Siddhant Chaturvedi, Ananya Panday, Dhairya Karwa
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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.
“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 bio
His favourite book - 1984 by George Orwell
His favourite quote - 'If you think education is expensive, try ignorance' by Derek Bok, Former President of Harvard
Favourite place to travel to - Peloponnese, Southern Greece
Favourite movie - The Last Emperor
Favourite personality from history - Alexander the Great
Role Model - My father, Yiannis Davos
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Gulf Under 19s final
Dubai College A 50-12 Dubai College B
Name: Brendalle Belaza
From: Crossing Rubber, Philippines
Arrived in the UAE: 2007
Favourite place in Abu Dhabi: NYUAD campus
Favourite photography style: Street photography
Favourite book: Harry Potter
Dubai works towards better air quality by 2021
Dubai is on a mission to record good air quality for 90 per cent of the year – up from 86 per cent annually today – by 2021.
The municipality plans to have seven mobile air-monitoring stations by 2020 to capture more accurate data in hourly and daily trends of pollution.
These will be on the Palm Jumeirah, Al Qusais, Muhaisnah, Rashidiyah, Al Wasl, Al Quoz and Dubai Investment Park.
“It will allow real-time responding for emergency cases,” said Khaldoon Al Daraji, first environment safety officer at the municipality.
“We’re in a good position except for the cases that are out of our hands, such as sandstorms.
“Sandstorms are our main concern because the UAE is just a receiver.
“The hotspots are Iran, Saudi Arabia and southern Iraq, but we’re working hard with the region to reduce the cycle of sandstorm generation.”
Mr Al Daraji said monitoring as it stood covered 47 per cent of Dubai.
There are 12 fixed stations in the emirate, but Dubai also receives information from monitors belonging to other entities.
“There are 25 stations in total,” Mr Al Daraji said.
“We added new technology and equipment used for the first time for the detection of heavy metals.
“A hundred parameters can be detected but we want to expand it to make sure that the data captured can allow a baseline study in some areas to ensure they are well positioned.”
Poland Statement
All people fleeing from Ukraine before the armed conflict are allowed to enter Poland. Our country shelters every person whose life is in danger - regardless of their nationality.
The dominant group of refugees in Poland are citizens of Ukraine, but among the people checked by the Border Guard are also citizens of the USA, Nigeria, India, Georgia and other countries.
All persons admitted to Poland are verified by the Border Guard. In relation to those who are in doubt, e.g. do not have documents, Border Guard officers apply appropriate checking procedures.
No person who has received refuge in Poland will be sent back to a country torn by war.
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Living in...
This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.