World's longest cycle and pedestrian tunnel to open in Norway in April

Norway is set to open the Fyllingsdalen tunnel — the world's longest purpose-built pedestrian and bicycle tunnel — on April 15.

The tunnel, which cuts through the Lovstakken mountain in Bergen, was built parallel to the new light rail line that opened in November and links the borough of Fyllingsdalen with the city centre.

It doubles as an escape route for train passengers, with dedicated pedestrian and cycle lanes of 2.25 and 3.5 meters wide, respectively, included in its design.

At 2.9km long, the tunnel takes about 10 minutes to cycle and 30 to 45 minutes to walk.

The Fyllingsdal tunnel and the rest of the cycle route to Bergen city centre have been financed through the municipality's state-supported Environmental Promise programme, whose goal is to make it easier for people to choose cycling and walking over driving.

The project aims to help reduce traffic in the city, cut planet-heating emissions as well as unhealthy pollution.

The Snoqualmie Tunnel near Seattle, Washington, in the US is 3.6km long, making the Fyllingsdal tunnel the world's second longest overall — but it is the longest that was built for the purpose of accommodating pedestrians and cyclists.

The tunnel will be open from 5.30am to 11.30pm daily and features well-lit rest stops and security cameras throughout.

Colourful dynamic lighting will create a wave of light when a cyclist or pedestrian enters the tunnel at either end, alerting cyclists to oncoming traffic.

Fyllingsdal in Norway is world's longest pedestrian and bicycle tunnel. All photos: Bybanen Utbygging
The tunnel is 2.9km long
It cuts through the Løvstakken mountain in Bergen and was built parallel to a new light railway that opened in November
The tunnel doubles as an escape route for train passengers, with dedicated pedestrian and cycle lanes
The goal of the tunnel is to make it easier for more people to choose cycling and walking over driving
The tunnel will be open from 5.30am to 11.30pm daily and features well-lit rest stops and security cameras throughout
Emergency phones are available every 250 metres and the tunnel will be kept at a constant temperature of 7°C

Emergency phones are available every 250 metres, and it will be kept at a constant temperature of 7°C, making it an attractive training route for runners on colder days.

The tunnel project received government investment, with the state covering half of the additional cost of 500 million kroner (approximately £40 million to upgrade the emergency tunnel to a cycle and pedestrian path.

Tunnel inauguration ceremony and events

On Saturday, the tunnel will be opened to the public for the very first time, presenting an opportunity for residents to tour this remarkable feat of engineering.

To mark the occasion, the city of Bergen has organised a weekend of festivities in which the tunnel's opening will be celebrated with various events, including a variety of bike races for young and old.

Sunday marks the official opening of the tunnel to full bicycle traffic. The city of Bergen is set to celebrate this milestone by organising a bicycle parade from Fyllingsdalen into the city centre.

The opening of the tunnel marks a crucial step towards a greener future and a more sustainable transport system, according to organisers.

The weekend of events is set to be a call to action for more cities to prioritise the health and well-being of their citizens by investing in active transport infrastructure.

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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.”