DUBAI // A free shuttle bus is helping residents in a Dubai neighbourhood make a quick and environmentally friendly start to their morning commute.
The newly launched service takes people living the Emaar communities of The Greens and The Views to and from the nearby Internet City Metro station.
The developer hopes it will encourage people to think more about using public transport and help to reduce the number of cars on the emirate’s roads.
Residents said it was a welcome move, although there was some confusion initially about where the bus would pick up passengers.
“I have seen the notices that were put up in my apartment block a few days ago,” said Jennifer Peters, from the UK.
“I only realised that one of the pick-up points was where they had put up a larger version of the notice, it’s easy to miss. It was pretty empty when I went on it but I think once more people know about it, they will start using it.”
The bus picks up passengers at the Greens Village shopping centre, at Street 7 opposite the Mosela building and at the Dubai Internet City station every 15 minutes, Sunday to Thursday from 7am to 10am and 4pm to 7pm.
Harish Patel, from India, praised Emaar for the initiative but said it should be expanded.
“I think they should do something similar for places like The Springs and The Meadows if they can,” Mr Patel said. “If they are really serious about getting people to leave their cars at home then they should have a wider service.”
Some residents were not as impressed. “I’m not sure we need this to be honest,” said Abdul El Hashem, from Egypt.
"We already have a normal bus service that connects The Greens to the Metro, although that one takes a while. It's good that it's free but I don't think people are prepared to give up the convenience of using their cars."
The real test of its success would come once the summer temperatures soar, residents said.
“I can’t imagine people waiting out in the summer heat and humidity to catch this bus,” said a British resident. “During the cooler months I prefer to walk to and from the Metro so I doubt there will be a need for the bus then.”
But others felt that it would make it easier for people.
“This is really handy for me,” said Sarah Greaves, from Canada, who does not have a car. “The stop is a one-minute walk from my apartment and it will save me the hassle of walking around with loads of shopping bags.”
An Emaar spokesman said: “Emaar has worked with its homeowners to offer this private bus service to our community residents and visitors ... we are reviewing new routes and will introduce them as and when they are finalised.”
nhanif@thenational.a
German intelligence warnings
- 2002: "Hezbollah supporters feared becoming a target of security services because of the effects of [9/11] ... discussions on Hezbollah policy moved from mosques into smaller circles in private homes." Supporters in Germany: 800
- 2013: "Financial and logistical support from Germany for Hezbollah in Lebanon supports the armed struggle against Israel ... Hezbollah supporters in Germany hold back from actions that would gain publicity." Supporters in Germany: 950
- 2023: "It must be reckoned with that Hezbollah will continue to plan terrorist actions outside the Middle East against Israel or Israeli interests." Supporters in Germany: 1,250
Source: Federal Office for the Protection of the Constitution
2025 Fifa Club World Cup groups
Group A: Palmeiras, Porto, Al Ahly, Inter Miami.
Group B: Paris Saint-Germain, Atletico Madrid, Botafogo, Seattle.
Group C: Bayern Munich, Auckland City, Boca Juniors, Benfica.
Group D: Flamengo, ES Tunis, Chelsea, Leon.
Group E: River Plate, Urawa, Monterrey, Inter Milan.
Group F: Fluminense, Borussia Dortmund, Ulsan, Mamelodi Sundowns.
Group G: Manchester City, Wydad, Al Ain, Juventus.
Group H: Real Madrid, Al Hilal, Pachuca, Salzburg.
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.”
Pearls on a Branch: Oral Tales
Najlaa Khoury, Archipelago Books
COMPANY PROFILE
● Company: Bidzi
● Started: 2024
● Founders: Akshay Dosaj and Asif Rashid
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Your UK residence status is assessed using the statutory residence test. While your residence status – ie where you live - is assessed every year, your domicile status is assessed over your lifetime.
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A UK-domiciled person, however, is liable for UK tax on their worldwide income and gains when they are resident in the UK.
Founders: Abdulmajeed Alsukhan, Turki Bin Zarah and Abdulmohsen Albabtain.
Based: Riyadh
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Founded: September, 2020
Number of employees: 70
Sector: FinTech, online payment solutions
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Ox:diligent, perseverent, conservative
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Dragon:prosperous, brave, rash
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