Students of Repton School planting trees in the campus at Nad Al Sheba 3 in Dubai.
Students of Repton School planting trees in the campus at Nad Al Sheba 3 in Dubai.

Planting the seeds of eco awareness



DUBAI // Grade Four pupils at Repton School in Nad Al Sheba got their hands dirty planting tamarind trees yesterday.

The children will plant 176 trees by the end of the year, but began this week by planting 35 saplings.

The resulting grove will be a symbol of a pledge taken by 176 pupils to create a green oasis in the desert. This planting event formed part of the schoolchildren's practical science lesson and was organised by the development group Al Barari, as part of its "Plant a Tree" initiative.

"We want the children to understand the process behind the greenery they see around them," said Kamelia Zaal, the landscape director at Al Barari, who plans to introduce the project to more schools in the emirate.

"If we educate them now, they will be more conscious of protecting the environment later on in life."

The class project began last year when the children were taken to the developer's nursery and taught how to plant seeds.

"We told them about the indigenous variety and took them through the different stages in the plant life," said Ms Zaal. The seeds were left to grow into saplings at the nursery until ready to be planted on the school's premises.

Jonathan Hughes D'Aeth, headmaster of the school, said: "Despite being a desert, gardening here is remarkably easy because the sand has a huge amount of useful minerals. With a bit of compost and water, plants can thrive."

Mr D'Aeth said involving the pupils made them personally responsible for the flora. "When their hands feel the soil, they smell it and water it … it's a practical quality which is important in the education process."

Grade 4 pupil Henry Milford said he was aware of the benefits of living in green spaces. "We get more oxygen and it's good for the health too," he said.

He said he was disappointed to see trees being cut down to construct more buildings.

"If you do not plant a tree for one that is chopped down, then all the animals will die in the next 20 years."

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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COMPANY PROFILE
Name: ARDH Collective
Based: Dubai
Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
Sector: Sustainability
Total funding: Self funded
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Singham Again

Director: Rohit Shetty

Stars: Ajay Devgn, Kareena Kapoor Khan, Ranveer Singh, Akshay Kumar, Tiger Shroff, Deepika Padukone

Rating: 3/5


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