The Emirates Red Crescent's national humanitarian event. Wam
The Emirates Red Crescent's national humanitarian event. Wam
The Emirates Red Crescent's national humanitarian event. Wam
The Emirates Red Crescent's national humanitarian event. Wam

Emirates Red Crescent prepares 1,971 food parcels for Gaza ahead of UAE National Day


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The UAE’s Emirates Red Crescent (ERC) held a humanitarian event which included the preparation of 1,971 food parcels being prepared to be sent to Gaza on Thursday.

The event was held as part of the celebrations ahead of UAE National Day, also known as Eid Al Etihad, reported the state news agency Wam.

"The ERC’s initiatives for the 54th Eid Al Etihad stem from the UAE’s vision, which places human dignity at the centre of its policies," said Dr Hamdan Al Mazrouei, chairman of the board of directors of the ERC.

"This vision is clearly reflected in the ERC’s programmes, particularly the food parcel initiative for Gaza, which includes 1,971 parcels and serves as a practical expression of linking humanitarian work with the spirit of the union and the values of the nation’s founding.

"The national and humanitarian messages the ERC seeks to convey through the Eid Al Etihad celebrations represent a living embodiment of the spirit of the union on which the UAE was founded in 1971."

The UAE, he added, has deservedly earned the title of "homeland of humanity", stressing that the ERC is consolidating this title through its initiatives.

Earlier this week, the ERC launched its annual winter aid campaign to support more than 1.8 million people across 24 countries at a cost of more than Dh37 million.

More than Dh27 million of it has been allocated to assist 1.35 million people in Gaza, reaffirming the UAE’s leading humanitarian role and its continued support for the Palestinian people.

The campaign involves winter clothing, blankets, heating supplies, food and hygiene parcels, children’s essentials and shelter materials being delivered to those most in need, with the aid delivered through UAE embassies and ERC offices.

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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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Updated: November 27, 2025, 3:46 PM