Bahrain’s royal family is planning to launch a “seven-star breeding project” for peregrine falcons at a farm in North Yorkshire, UK, where birds of prey will be born and raised before being transported to the Gulf.
The ruling Al Khalifa family have enlisted the help of British falcon expert Dr Mark Robb to open a centre to meet high demand for the birds.
An application submitted to Hambleton District Council in North Yorkshire laid out the Bahraini royals’ ambitions to open the centre in Easingwold, which will hold public open days and educational talks for school groups.
The move comes after Bahrain joined a global movement to control the importation of endangered species of animals.
Dr Robb, who has decades of experience in breeding falcons, set up a breeding centre in nearby Stokesley two years ago and staff will be enlisted to help establish the new site.
While falconry has historically been a part of the culture of many Middle Eastern nations, the birds have surged in popularity in recent years.
The application shows how the royals favour Yorkshire for their project as the climate is more suitable for successful breeding of the birds compared to other parts of Britain.
The documents state that the farm “offers everything a falcon breeding project can hope for” as it is located in a semi-rural, flat area, which is “well shielded from sight from all angles”.
The applicants laid out how there are sufficient trees on the land and foliage for natural drainage.
“The trees surrounding the fields also provide sufficient vegetation for natural drainage of the ground and oxygen exchange/water evaporation on hot days,” the application said.
“This will not be an overnight success, it will require imprinting of new falcons, importation of suitable breeding stock as well as many hours of work.
“At the moment we have eight full-time employees at the site in Great Broughton.
“Two of these people will come with us to the new site as we are now depending on them to be able to get the new project up and running to the quality that our Bahrain clients require.
“We both feel that our new position is further away from less reputable parts of Middlesbrough and we hope that this in itself will give us a natural protection from local foul play.
“We have been informed that the royal family of Bahrain want a seven-star breeding project, the only one of its kind from Bahrain.”
It went on to say that breeding falcons in captivity is “extraordinary complicated and time consuming” and is particularly challenging compared to other breeds.
Submitting the application on behalf of the Bahraini royals, Dr Robb spelt out the complexities involved in breeding falcons.
"Most other animals breed as a natural part of their life cycle," he said. "However, falcons need certain conditions to be able to comfortably breed inside an aviary.
"Falcons also tend to be very picky with their partner. Just because we as breeders want that exact pair of birds to breed, it might not mean that the birds agree.
"This is why we imprint falcons and breed from them, with us as a 'middle hand' between the male and the female."
Dr Robb said that in addition to falcons bred through imprinting, there is also demand from Gulf customers for naturally-bred birds.
"This is because the falcons flown by the clients in the Gulf need to behave like wild falcons and not like imprinted falcons," he said.
"This means that any of the young birds that are to be exported for hunting need to be reared by a pair of falcons and not by humans. For a falcon to thrive in captivity, you need to enable them to perform their natural behaviours. One of these is, of course, to be able to fly."
There have been no objections to the proposal and Hambleton District Council’s planning committee is expected to approve the application at a hearing on Thursday.
A report compiled for the committee said the breeding centre would create jobs for local people and “therefore be able to contribute to economic growth”.
THE BIO: Martin Van Almsick
Hometown: Cologne, Germany
Family: Wife Hanan Ahmed and their three children, Marrah (23), Tibijan (19), Amon (13)
Favourite dessert: Umm Ali with dark camel milk chocolate flakes
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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.”
Profile
Company: Libra Project
Based: Masdar City, ADGM, London and Delaware
Launch year: 2017
Size: A team of 12 with six employed full-time
Sector: Renewable energy
Funding: $500,000 in Series A funding from family and friends in 2018. A Series B round looking to raise $1.5m is now live.
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Engine: 2.0-litre 4-cylinder turbo hybrid
Transmission: eight-speed automatic
Power: 390bhp
Torque: 400Nm
Price: Dh340,000 ($92,579
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