Dubai on Sunday set out a Dh390 million strategy to transform the emirate's rural areas to create "an ideal destination to live and work", and boost tourism.
Sheikh Hamdan bin Mohammed, Crown Prince of Dubai, Deputy Prime Minister and Minister of Defence, approved 37 projects – slated for completion by 2028 – to enhance Dubai's countryside and develop diverse tourist attractions.
He also unveiled a master plan for the Saih Al Salam Scenic Route, a 100km road for vehicles and bicycles to promote desert tourism and provide investment opportunities for local communities.
The Crown Prince said the series of initiatives aimed to “transform Dubai’s rural areas and countryside to be among the best, most beautiful, and enjoyable for all".
"This contributes to solidifying the emirate’s position as an ideal destination to live and work, as well as a preferred attraction for visitors from around the world," Sheikh Hamdan said.
Attracting millions of visitors
Sheikh Hamdan said the ambitious plans are in line with the Dubai 2040 Urban Master Plan, which aims to provide a framework for the emirate's development for years to come.
“We have approved the development of several facilities, along with increasing activities, events, and services within the Saih Al Salam Scenic Route project to boost tourist numbers from around half a million annually currently to over three million visitors by 2040," Sheikh Hamdan said.
"This will enhance the area’s position as one of Dubai’s main tourist destinations while expanding investment opportunities for locals and preserving the region’s unique nature and identity."
The master plan for the Saih Al Salam Scenic Route includes the development of five tourist stations and the construction of 97.86km of cycle tracks, increasing the total track length in the area to 156.61km.
It will include the construction of a market at the main station hub, featuring shops selling local goods near Al Qudra Lakes and an open-air cinema near Last Exit. The station will also feature luxury marquees, allowing visitors to camp in the heart of the desert.
A Wildlife Station, near Flamingo Lake, will have a host of amenities and attractions, including hot air balloons that allow visitors to enjoy views of the wildlife and take in the Love Lakes from above.
There will be luxury camps and elevated walking trails that will connect the three lakes – Love, Qudra, and Flamingo. Kayak tours will also be offered across the three lakes.
The Adventure Station, located near Expo 2020 Lake, will include an adventure park near the Oryx platform, as well as walking and fitness trails. A sandy trail for cycling and walking will be added around Expo Lake, along with budget camps and restaurants.
The Cultural Experience Station, near the camel farm in Al Marmoom, will provide a traditional majlis and an entertainment theatre at the camel farm, where visitors can ride camels, explore the desert, and enjoy traditional meals.
At the Desert Adventure Station, a fully integrated area for adventure and desert sports will be developed, featuring dune bashing, desert cycling, dune climbing, sandboarding, and desert safari tours, among others.
The first phase of the rural and countryside plan includes the provision of 18 new services for residents of these areas. These include the establishment of three nurseries, seven parks and open spaces, and a hospital, a health centre, and an ambulance station.
Plans take shape
The Higher Committee for Urban Planning in Dubai is overseeing the implementation of the 37 projects as part of the comprehensive plan for the development of rural and countryside areas, which span 2,216 square kilometres. The wide-ranging strategy will include the development of cultural centres, healthcare facilities, additional transport options and an investment in infrastructure to improve the quality of life of rural communities.
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Teachers' pay - what you need to know
Pay varies significantly depending on the school, its rating and the curriculum. Here's a rough guide as of January 2021:
- top end schools tend to pay Dh16,000-17,000 a month - plus a monthly housing allowance of up to Dh6,000. These tend to be British curriculum schools rated 'outstanding' or 'very good', followed by American schools
- average salary across curriculums and skill levels is about Dh10,000, recruiters say
- it is becoming more common for schools to provide accommodation, sometimes in an apartment block with other teachers, rather than hand teachers a cash housing allowance
- some strong performing schools have cut back on salaries since the pandemic began, sometimes offering Dh16,000 including the housing allowance, which reflects the slump in rental costs, and sheer demand for jobs
- maths and science teachers are most in demand and some schools will pay up to Dh3,000 more than other teachers in recognition of their technical skills
- at the other end of the market, teachers in some Indian schools, where fees are lower and competition among applicants is intense, can be paid as low as Dh3,000 per month
- in Indian schools, it has also become common for teachers to share residential accommodation, living in a block with colleagues
UAE currency: the story behind the money in your pockets
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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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