Ancient construction techniques will merge with modern design to create one of the world’s largest wooden structures on a Japanese island that is being prepared to host the next World Expo.
The giant timber canopy, which will be known as the Grand Roof, will be the symbol of and main staging ground for Expo 2025 Osaka.
Once completed, the great ring roof, covered with greenery and flowers, will form an aerial corridor that will give millions of visitors a bird’s eye view of the Expo site below.
After a successful Expo 2020 Dubai ended in March this year, the baton was handed over to Osaka.
This will be Japan’s third such event ― Osaka hosted Asia’s first World Expo in 1970.
The Japan Association for the 2025 World Exposition said preparatory work had begun on Yumeshima, a man-made island in the southern Osaka Bay area.
“We are carrying out construction work,” a representative of the association told The National.
“Preparation is on at the site on which pavilions will be constructed, laying of water supply and sewerage, electricity, communication pipes.
“Construction is under way for the handover of the plots for countries who will be building self-built pavilions after April 13, 2023.”
The expo will run from April to October 2025 under the theme "Designing future society of our lives".
Once open, millions of visitors will be able to stroll on a two-kilometre roof that will be constructed using traditional Japanese techniques use in ancient temples to join wooden beams and pillars.
The five-storey structure will also act as an enormous sunshade to shelter people from the sun, rain and wind.
Design information shared by organisers shows a gently sloping roof soaring from 12m to 20m high with observation spots overlooking the sea.
At the heart of the design is a central principle of "one sky".
When Japanese officials submitted a masterplan two years ago to the Bureau International des Expositions, the organisers of world’s fairs, they spoke of "one sky as a symbol of connection".
“The sky connects all parts of the world. It is what people all over the world share. The one sky thus represents unity in diversity. The Expo venue will have the one sky in it,” according to the masterplan.
Another ambition is to display cutting-edge digital and carbon-neutral technology as part of plans to present "a laboratory for a future society".
A portion of the sea will be drawn in to create a water crescent that will be a zone for waterfront activities.
A forest of tranquillity, or a quiet space filled with trees, will be among other attractions so visitors can take a break from the crowds expected at the Expo.
Dimitri S Kerkentzes, the BIE’s secretary general, was pleased with the momentum to deliver the mega event.
“With its theme requiring us to meet the challenge of designing future society, Expo 2025 Osaka Kansai is a springboard for achieving and going beyond the sustainable development goals,” he said during an October global planning meeting in Osaka.
Koji Haneda, commissioner general of Expo 2025 Osaka, said he was looking forward to welcoming a stronger community that had weathered the pandemic.
“We must look beyond the post Covid-19 world, and envision a resilient and sustainable society for the future,” he said.
“I am confident Expo 2025 Osaka Kansai will provide an excellent opportunity for the global community to experiment and demonstrate a desirable way of life in the future.”
Other designs to watch out for will be a themed project called the Totality of Life.
A space station, an underwater vessel and a large tree will be set up to get people thinking about protecting life and rediscovering the universe.
During Expo 2020 Dubai, visitors and UAE residents often expressed an interest in visiting the next world fair.
Organisers estimate more than 28 million visits at Osaka with 150 countries and 25 international groups participating.
Japanese officials have said diversity and unique offerings would be common factors between Osaka and Dubai.
They have spoken about what they learnt from the Dubai Expo, which hosted theme weeks and welcomed heads of government, diplomats, celebrities and business leaders to draw large crowds.
“Expo 2020 Dubai presented a new model to World Expo,” Hiroyuki Ishige, secretary general of Japan’s Expo, told The National.
“We would like visitors to not only see the pavilions of each participating country at the venue, but also take in the nature, sea and sky of Japan.”
Match info:
Portugal 1
Ronaldo (4')
Morocco 0
Grand slam winners since July 2003
Who has won major titles since Wimbledon 2003 when Roger Federer won his first grand slam
Roger Federer 19 (8 Wimbledon, 5 Australian Open, 5 US Open, 1 French Open)
Rafael Nadal 16 (10 French Open, 3 US Open, 2 Wimbledon, 1 Australian Open)
Novak Djokovic 12 (6 Australian Open, 3 Wimbledon, 2 US Open, 1 French Open)
Andy Murray 3 (2 Wimbledon, 1 US Open)
Stan Wawrinka 3 (1 Australian Open, 1 French Open, 1 US Open)
Andy Roddick 1 (1 US Open)
Gaston Gaudio 1 (1 French Open)
Marat Safin 1 (1 Australian Open)
Juan Martin del Potro 1 (1 US Open)
Marin Cilic 1 (1 US Open)
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Specs
Engine: 51.5kW electric motor
Range: 400km
Power: 134bhp
Torque: 175Nm
Price: From Dh98,800
Available: Now
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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.”
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