Older shops along the Hatta-Oman road have been affected by the opening of a mall in the village.
Older shops along the Hatta-Oman road have been affected by the opening of a mall in the village.

Hesitant Hatta grows up fast



DUBAI // Snug in its ring of protective mountains, Hatta has long been a haven of tradition, a village largely overlooked by the busy progress in Dubai and the nearby border region of Oman. But with the rest of the UAE in a state of furious transformation, Hatta could not hold out forever. Now, the area's old-fashioned house covered in white plaster, set out around untidy courtyards and alleyways, are being cleared away and the residents given spacious modern villas in orderly suburbs on the slopes. New hospitals, schools, and a multi-storey mall have added a neon and concrete skyline to a once-uncluttered landscape. The fruits of traditional practices such as date farming and animal husbandry have come under -pressure from mass-produced imports that line supermarket shelves. The village's location close to the tranquil Hatta Pools and rugged Hajar mountains have also made it a booming tourist destination. For some, this is a double-edged sword. While many of the changes are inevitable and welcome, others risk destroying Hatta's character, which is appreciated by residents and visitors alike. One resident, Omar Obdi, 19, said government housing projects had improved the standard of living and given the younger generation the chance to make lives for themselves in the village. "Hatta was unchanged for hundreds of years and the elders like to retain the traditional way of life. But the younger generation has new ideas and they are demanding modern amenities and job -opportunities so that they can stay in the village. A growing population needs more services and the Government has recognised this." However, Mr Obdi admitted too much modernisation could threaten Hatta's popularity with tourists. "With the new houses and amenities there is an incentive to stay in the community but if they build too many it will change the nature of Hatta and the tourists will go." Most Hatta residents have government jobs, in local offices of the health department and the military. However, many come from families that have been market traders for generations. Some still ply their trade in the village square or in the small shops that have sprung up around the main road. Wahab Abdul Ratif, owner of an electronics store, said such traders were feeling the squeeze of the new competition, but that an increasingly profitable Omani market was keeping them in business. "There are larger shops in Hatta now, with the mall offering a greater range of products and international brands. This has been popular with local residents and this has affected custom at the smaller stores. "However, business is still good in the street markets, especially in electronics, because many people come over from Oman to get cheaper prices on goods." Hatta has also become a commuter satellite of Dubai as some dwellers of the city try to escape sky-high rents. While a three-bedroom flat in Dubai Marina costs about Dh11,000 (US$3,000) a month, a similar place to live in Hatta costs only around Dh1,500. While such commuters represent only a small percentage of the population, residents fear their numbers could increase when a new road from Abu Dhabi is completed. The opening of fast-food delivery outlets 18 months ago and a local taxi service last month suggest Hatta is indeed changing. Haitham Layous, the manager of the Hatta Fort Hotel, one of the community's main gathering places, described the rising standard of living as positive, but sounded a note of caution. "The appeal of the village is its tranquillity. We have found that most of our guests come here to -escape the city and to find out more about traditional ways of life and the history of the UAE. Guided tours of the heritage village are very popular, as are trips to local sites such as the Hatta Pools and wadis." Mr Layous added that the area is seeing more "adventure tourism". "One of the current trends in the tourist industry is that people are demanding activities and adventures. We greet lots of groups who have lunch with us and then head into the mountains." Lewis Godinho, the hotel's recreation manager and a local history expert, said the village had doubled in size over the past six years and that the community had become less isolated. "Years ago you would only see one or two buses pass through the village a day. Now there is a permanent bus station and an hourly service to Dubai, Ajman and Fujairah. Locals used to farm dates and tobacco or sell goat meat at the market. This is less common now as people can work farther afield. But residents have an easier, more comfortable life now with new houses, a park and jogging track. A new school will welcome students in September." Driving through the narrow streets of the old district, Mr Godinho pointed to his old house, a crumbling shack, smaller than the garages of the villas on the new estates: "This will be cleared soon, they are building 300 more houses by 2011." He spoke with an emotion in his voice that suggested regret for something lost: a simpler life, age-old traditions and pride in his village's independence. tbrooks@thenational.ae

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.”

Elvis
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The specs

AT4 Ultimate, as tested

Engine: 6.2-litre V8

Power: 420hp

Torque: 623Nm

Transmission: 10-speed automatic

Price: From Dh330,800 (Elevation: Dh236,400; AT4: Dh286,800; Denali: Dh345,800)

On sale: Now

Tips from the expert

Dobromir Radichkov, chief data officer at dubizzle and Bayut, offers a few tips for UAE residents looking to earn some cash from pre-loved items.

  1. Sellers should focus on providing high-quality used goods at attractive prices to buyers.
  2. It’s important to use clear and appealing photos, with catchy titles and detailed descriptions to capture the attention of prospective buyers.
  3. Try to advertise a realistic price to attract buyers looking for good deals, especially in the current environment where consumers are significantly more price-sensitive.
  4. Be creative and look around your home for valuable items that you no longer need but might be useful to others.
'THE WORST THING YOU CAN EAT'

Trans fat is typically found in fried and baked goods, but you may be consuming more than you think.

Powdered coffee creamer, microwave popcorn and virtually anything processed with a crust is likely to contain it, as this guide from Mayo Clinic outlines: 

Baked goods - Most cakes, cookies, pie crusts and crackers contain shortening, which is usually made from partially hydrogenated vegetable oil. Ready-made frosting is another source of trans fat.

Snacks - Potato, corn and tortilla chips often contain trans fat. And while popcorn can be a healthy snack, many types of packaged or microwave popcorn use trans fat to help cook or flavour the popcorn.

Fried food - Foods that require deep frying — french fries, doughnuts and fried chicken — can contain trans fat from the oil used in the cooking process.

Refrigerator dough - Products such as canned biscuits and cinnamon rolls often contain trans fat, as do frozen pizza crusts.

Creamer and margarine - Nondairy coffee creamer and stick margarines also may contain partially hydrogenated vegetable oils.

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.
How to watch Ireland v Pakistan in UAE

When: The one-off Test starts on Friday, May 11
What time: Each day’s play is scheduled to start at 2pm UAE time.
TV: The match will be broadcast on OSN Sports Cricket HD. Subscribers to the channel can also stream the action live on OSN Play.

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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
Number of employees: 4
In numbers

1,000 tonnes of waste collected daily:

  • 800 tonnes converted into alternative fuel
  • 150 tonnes to landfill
  • 50 tonnes sold as scrap metal

800 tonnes of RDF replaces 500 tonnes of coal

Two conveyor lines treat more than 350,000 tonnes of waste per year

25 staff on site

 

ANDROID%20VERSION%20NAMES%2C%20IN%20ORDER
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Company profile

Name: Tratok Portal

Founded: 2017

Based: UAE

Sector: Travel & tourism

Size: 36 employees

Funding: Privately funded

How to avoid crypto fraud
  • Use unique usernames and passwords while enabling multi-factor authentication.
  • Use an offline private key, a physical device that requires manual activation, whenever you access your wallet.
  • Avoid suspicious social media ads promoting fraudulent schemes.
  • Only invest in crypto projects that you fully understand.
  • Critically assess whether a project’s promises or returns seem too good to be true.
  • Only use reputable platforms that have a track record of strong regulatory compliance.
  • Store funds in hardware wallets as opposed to online exchanges.
How to protect yourself when air quality drops

Install an air filter in your home.

Close your windows and turn on the AC.

Shower or bath after being outside.

Wear a face mask.

Stay indoors when conditions are particularly poor.

If driving, turn your engine off when stationary.

'Gehraiyaan'
Director:Shakun Batra

Stars:Deepika Padukone, Siddhant Chaturvedi, Ananya Panday, Dhairya Karwa

Rating: 4/5

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Quick pearls of wisdom

Focus on gratitude: And do so deeply, he says. “Think of one to three things a day that you’re grateful for. It needs to be specific, too, don’t just say ‘air.’ Really think about it. If you’re grateful for, say, what your parents have done for you, that will motivate you to do more for the world.”

Know how to fight: Shetty married his wife, Radhi, three years ago (he met her in a meditation class before he went off and became a monk). He says they’ve had to learn to respect each other’s “fighting styles” – he’s a talk it-out-immediately person, while she needs space to think. “When you’re having an argument, remember, it’s not you against each other. It’s both of you against the problem. When you win, they lose. If you’re on a team you have to win together.” 

THE SPECS

Engine: 6.75-litre twin-turbocharged V12 petrol engine 

Power: 420kW

Torque: 780Nm

Transmission: 8-speed automatic

Price: From Dh1,350,000

On sale: Available for preorder now

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'Nightmare Alley'

Director:Guillermo del Toro

Stars:Bradley Cooper, Cate Blanchett, Rooney Mara

Rating: 3/5

The Library: A Catalogue of Wonders
Stuart Kells, Counterpoint Press

The specs
Engine: 77.4kW all-wheel-drive dual motor
Power: 320bhp
Torque: 605Nm
Transmission: Single-speed automatic
Price: From Dh219,000
On sale: Now

Small Victories: The True Story of Faith No More by Adrian Harte
Jawbone Press