Amid the sand dunes deep in the desert outside Al Ain, hundreds of labourers are hard at work on a project the Abu Dhabi Government hopes will change the face of living in the emirate.
As cars roll down a track past hundreds of partially completed sand-coloured mansions, one of Abu Dhabi's first environmentally friendly Emirati homes looms into view.
The 1,022-villa Al Ain Ghareba scheme, being built by the Abu Dhabi Urban Planning Council (UPC) and the developer Sorouh, is part of the first Emirati housing project designed to comply with the Government's environmental Estidama standards.
"With the Estidama villa prototype in Al Ghareba we are implementing principles that are imperative for sustainable community development," says Mohamed Al Khadar, the executive director for development review and Estidama at UPC, at the new villa's unveiling.
"We know that existing residential areas in the emirate use a substantial percentage of Abu Dhabi's energy and water resources.
"By building sustainable homes that comply with the Estidama Pearl rating system requirements, we not only create healthier, resource-efficient, comfortable and environmentally friendly communities, but villa owners may see a better return on their investment."
Fahad Al Ketbi, the chief commercial officer at Sorouh, points out some of the innovations in the building.
"The natural ventilation capacity of this house is 25 per cent better than the average," he says, standing in one of the villa's ample living spaces. "There are thermostats in each living area and bedroom to optimise the use of air conditioning and reduce energy consumption."
Certainly, two years after Abu Dhabi's Estidama green building scheme became mandatory and nearly a year after the Government announced a swathe of new publicly funded environmentally friendly Emirati housing, the prototype villa can boast some pretty green vital statistics.
All the homes in the development will be built to Estidama Pearl level two. This means that as well as improved ventilation and more energy efficient air conditioning, the villas also benefit from increased natural daylight.
That means much less floor area needs to be illuminated by artificial light during the day. Water usage is 30 per cent lower than average due to the use of low-flow taps, while energy performance is 20 per cent lower than average due to more efficient window fittings and a solar water-heating system that produces about 80 per cent of the overall hot water needs.
Moreover, the developers say all the insulation materials are free from ozone depleting materials, 20 per cent of construction materials are procured regionally and 50 per cent of construction waste will be sent for recycling. Al Ghareba has been designed so that each villa will be located within a maximum of 350 metres walking distance to parks and community facilities to promote exercise, while open spaces and paths are shaded to encourage residents to walk and cycle even in the hot summer months. Bicycle racks are to be installed in each villa as standard.
It's impressive stuff, although when The National was shown around the prototype villa, despite it being broad daylight outside, all the lights were on.
Still, as UPC officials freely admit, developers are coming at environmentally friendly building from a fairly low base."One of our biggest achievements here is that half of all construction waste goes to be recycled," says Edwin Young, the Estidama programme manager at UPC. "Last year we would have dumped that in the desert. "
Abu Dhabi's Estidama system has five levels of compliance with Al Ghareba's Pearl level two rating the second to lowest. So why, on its own projects, does the Government not insist on developers building to the maximum standard?
"Building to a higher Pearl rating would cost a lot more," says an official who does not wish to be named. "Also the whole Estidama system is very new, so it's a question of baby steps."
Future Estidama levels are likely to include more stringent requirements for energy saving and could include measures such as smart systems that reduce air conditioning automatically when homes are less than full.
Despite the emphasis on thinking green, officials agree that Al Ghareba and other national housing projects exist mainly to increase the supply of affordable homes for Emiratis and to provide public-sector work for property developers hit by the global financial downturn.
For Abu Dhabi's two largest developers - Sorouh and Aldar, which is in the process of handing over 4,857 villas at Al Falah near the capital - such public sector works form an increasingly important part of revenues.
Sorouh said this month that net profit was up 55 per cent in the third quarter compared with the same period last year. "Revenues from national housing projects increased to Dh607 million [US$165.2m] from Dh68m" in the third quarter last year, it said.
Aldar's third-quarter net profit rose 43 per cent to Dh206m.
From UPC's point of view, such schemes provide the perfect opportunity to implement its fledgling green guidelines.
In the end, of course, there is little the developers can do to ensure occupants of these villas stick to the environmentally friendly way of living that UPC and Sorouh hope to encourage.
"Nobody's ever done an Estidama village yet," says Mr Young.
"Next year they will all come on stream so eventually we'll see what the real behavioural pattern is. But I would love to see somebody walking to school rather than being driven. I would love to see people walking to the mosque. That's what it's all about."
One of the teething troubles for developments such as Al Ghareba is that a number of other green measures proposed by the Government have not yet been initiated.
In 2008, the Centre for Waste Management was created to "establish a world-class sustainable waste management system to divert polluting waste away from landfill disposal and maximise resource recovery", according to the agency's website. But the developers recognise it is a long road to fulfil that vision.
"The bins we've got outside here are bins for the future," says Mr Young. "We've future-proofed these bins because the Centre for Waste Management [systems] aren't there yet.
"So what we do is we leave space for three bins. So in the future when recycling becomes more prevalent here, people will be able to separate out composting waste as well as the recyclables like glass and cardboard they already separate.
"It doesn't exist at the moment but in two or three years it will."
lbarnard@thenational.ae
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
On racial profiling at airports
The specs
Engine: 2.0-litre 4-cyl
Power: 153hp at 6,000rpm
Torque: 200Nm at 4,000rpm
Transmission: 6-speed auto
Price: Dh99,000
On sale: now
The specs
Engine: Four electric motors, one at each wheel
Power: 579hp
Torque: 859Nm
Transmission: Single-speed automatic
Price: From Dh825,900
On sale: Now
Common OCD symptoms and how they manifest
Checking: the obsession or thoughts focus on some harm coming from things not being as they should, which usually centre around the theme of safety. For example, the obsession is “the building will burn down”, therefore the compulsion is checking that the oven is switched off.
Contamination: the obsession is focused on the presence of germs, dirt or harmful bacteria and how this will impact the person and/or their loved ones. For example, the obsession is “the floor is dirty; me and my family will get sick and die”, the compulsion is repetitive cleaning.
Orderliness: the obsession is a fear of sitting with uncomfortable feelings, or to prevent harm coming to oneself or others. Objectively there appears to be no logical link between the obsession and compulsion. For example,” I won’t feel right if the jars aren’t lined up” or “harm will come to my family if I don’t line up all the jars”, so the compulsion is therefore lining up the jars.
Intrusive thoughts: the intrusive thought is usually highly distressing and repetitive. Common examples may include thoughts of perpetrating violence towards others, harming others, or questions over one’s character or deeds, usually in conflict with the person’s true values. An example would be: “I think I might hurt my family”, which in turn leads to the compulsion of avoiding social gatherings.
Hoarding: the intrusive thought is the overvaluing of objects or possessions, while the compulsion is stashing or hoarding these items and refusing to let them go. For example, “this newspaper may come in useful one day”, therefore, the compulsion is hoarding newspapers instead of discarding them the next day.
Source: Dr Robert Chandler, clinical psychologist at Lighthouse Arabia
COMPANY PROFILE
Name: Almnssa
Started: August 2020
Founder: Areej Selmi
Based: Gaza
Sectors: Internet, e-commerce
Investments: Grants/private funding
The specs
Engine: 3.9-litre twin-turbo V8
Transmission: seven-speed
Power: 720hp
Torque: 770Nm
Price: Dh1,100,000
On sale: now
The Details
Kabir Singh
Produced by: Cinestaan Studios, T-Series
Directed by: Sandeep Reddy Vanga
Starring: Shahid Kapoor, Kiara Advani, Suresh Oberoi, Soham Majumdar, Arjun Pahwa
Rating: 2.5/5
Abu Dhabi racecard
5pm: Maiden (Purebred Arabians); Dh80,000; 1,400m.
5.30pm: Maiden (PA); Dh80,00; 1,400m.
6pm: Sheikh Zayed bin Sultan Al Nahyan National Day Cup (PA); Group 3; Dh500,000; 1,600m.
6.30pm: Sheikh Zayed bin Sultan Al Nahyan National Day Cup (Thoroughbred); Listed; Dh380,000; 1,600m
7pm: Wathba Stallions Cup for Private Owners Handicap (PA); Dh70,000; 1,400m.
7.30pm: Handicap (PA); Dh80,000; 1,600m
COMPANY%20PROFILE
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The National Archives, Abu Dhabi
Founded over 50 years ago, the National Archives collects valuable historical material relating to the UAE, and is the oldest and richest archive relating to the Arabian Gulf.
Much of the material can be viewed on line at the Arabian Gulf Digital Archive - https://www.agda.ae/en
COMPANY PROFILE
Name: HyperSpace
Started: 2020
Founders: Alexander Heller, Rama Allen and Desi Gonzalez
Based: Dubai, UAE
Sector: Entertainment
Number of staff: 210
Investment raised: $75 million from investors including Galaxy Interactive, Riyadh Season, Sega Ventures and Apis Venture Partners
((Disclaimer))
The Liechtensteinische Landesbank AG (“Bank”) assumes no liability or guarantee for the accuracy, balance, or completeness of the information in this publication. The content may change at any time due to given circumstances, and the Liechtensteinische Landesbank AG is under no obligation to update information once it has been published. This publication is intended for information purposes only and does not constitute an offer, a recommendation or an invitation by, or on behalf of, Liechtensteinische Landesbank (DIFC Branch), Liechtensteinische Landesbank AG, or any of its group affiliates to make any investments or obtain services. This publication has not been reviewed, disapproved or approved by the United Arab Emirates (“UAE”) Central Bank, Dubai Financial Services Authority (“DFSA”) or any other relevant licensing authorities in the UAE. It may not be relied upon by or distributed to retail clients. Liechtensteinische Landesbank (DIFC Branch) is regulated by the DFSA and this advertorial is intended for Professional Clients (as defined by the DFSA) who have sufficient financial experience and understanding of financial markets, products or transactions and any associated risks.
Company profile
Name: Dukkantek
Started: January 2021
Founders: Sanad Yaghi, Ali Al Sayegh and Shadi Joulani
Based: UAE
Number of employees: 140
Sector: B2B Vertical SaaS(software as a service)
Investment: $5.2 million
Funding stage: Seed round
Investors: Global Founders Capital, Colle Capital Partners, Wamda Capital, Plug and Play, Comma Capital, Nowais Capital, Annex Investments and AMK Investment Office
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Killing of Qassem Suleimani
Killing of Qassem Suleimani
If you go
Where to stay: Courtyard by Marriott Titusville Kennedy Space Centre has unparalleled views of the Indian River. Alligators can be spotted from hotel room balconies, as can several rocket launch sites. The hotel also boasts cool space-themed decor.
When to go: Florida is best experienced during the winter months, from November to May, before the humidity kicks in.
How to get there: Emirates currently flies from Dubai to Orlando five times a week.
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Paatal Lok season two
Directors: Avinash Arun, Prosit Roy
Stars: Jaideep Ahlawat, Ishwak Singh, Lc Sekhose, Merenla Imsong
Rating: 4.5/5
COMPANY%20PROFILE
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Call of Duty: Black Ops 6
Developer: Treyarch, Raven Software
Publisher: Activision
Console: PlayStation 4 & 5, Windows, Xbox One & Series X/S
Rating: 3.5/5
COMPANY PROFILE
Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
Total funding: Self funded
Dubai Bling season three
Cast: Loujain Adada, Zeina Khoury, Farhana Bodi, Ebraheem Al Samadi, Mona Kattan, and couples Safa & Fahad Siddiqui and DJ Bliss & Danya Mohammed
Rating: 1/5
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.”
Company%20Profile
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The%C2%A0specs%20
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CHATGPT%20ENTERPRISE%20FEATURES
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Tree of Hell
Starring: Raed Zeno, Hadi Awada, Dr Mohammad Abdalla
Director: Raed Zeno
Rating: 4/5
More from Armen Sarkissian
The biog
From: Upper Egypt
Age: 78
Family: a daughter in Egypt; a son in Dubai and his wife, Nabila
Favourite Abu Dhabi activity: walking near to Emirates Palace
Favourite building in Abu Dhabi: Emirates Palace
The specs
Engine: 3.0-litre six-cylinder turbo
Power: 398hp from 5,250rpm
Torque: 580Nm at 1,900-4,800rpm
Transmission: Eight-speed auto
Fuel economy, combined: 6.5L/100km
On sale: December
Price: From Dh330,000 (estimate)
The specs
Engine: 3-litre twin-turbo V6
Power: 400hp
Torque: 475Nm
Transmission: 9-speed automatic
Price: From Dh215,900
On sale: Now
World Cup warm up matches
May 24 Pakistan v Afghanistan, Bristol; Sri Lanka v South Africa, Cardiff
May 25 England v Australia, Southampton; India v New Zealand, The Oval
May 26 South Africa v West Indies, Bristol; Pakistan v Bangladesh, Cardiff
May 27 Australia v Sri Lanka, Southampton; England v Afghanistan, The Oval
May 28 West Indies v New Zealand, Bristol; Bangladesh v India, Cardiff
