Ishtiyaq Ahmad Khan, who runs a petroleum transportation business, has donated land upon which a colossal religious site will be built. Photo: Mahavir Mandir Trust
Ishtiyaq Ahmad Khan, who runs a petroleum transportation business, has donated land upon which a colossal religious site will be built. Photo: Mahavir Mandir Trust
Ishtiyaq Ahmad Khan, who runs a petroleum transportation business, has donated land upon which a colossal religious site will be built. Photo: Mahavir Mandir Trust
Ishtiyaq Ahmad Khan, who runs a petroleum transportation business, has donated land upon which a colossal religious site will be built. Photo: Mahavir Mandir Trust

Indian man donates land worth millions for world's largest Hindu temple


Taniya Dutta
  • English
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An Indian Muslim man has donated land worth millions of rupees for building a Hindu temple touted as the world's tallest religious monument.

Ishtiyaq Ahmad Khan, 52, donated 2.8 hectares of land estimated to be worth 25 million rupees ($33,000) for construction of the Virat Ramayan Mandir in Kaithwalia area in East Champaran district in Bihar state.

Mr Khan, who runs a petroleum transportation business, on Monday donated the land to the temple trust that is constructing the colossal religious site.

Ishtiyaq Ahmad Khan, 52, has donated land on which the Virat Ramayan Mandir will be built. Photo: Ishtiyaq Ahmad Khan
Ishtiyaq Ahmad Khan, 52, has donated land on which the Virat Ramayan Mandir will be built. Photo: Ishtiyaq Ahmad Khan

The temple is an initiative by Mahavir Mandir Trust and is designed to be 73 metres high, taller than the 12th century Buddhist temple complex Angkor Wat in Cambodia which stands at 65.5m.

Mr Khan had earlier sold a piece of land to the temple at a discounted price and motivated other villages to extend help on the construction of the temple.

“People are fighting over Hindu-Muslims, temple-mosques in the country. I wanted to show them my respect for all the religions and do my part as a human being,” Mr Khan told The National.

“Majority of the land in the village is owned by our family. I felt it as my responsibility to do something for the construction of the temple,” he said.

Mr Khan’s initiative has touched many hearts in the country where tension is soaring between majority Hindus and minority Muslims.

“He has set an example for the society … this is a great gesture to promote religious harmony,” Acharya Kishore Kunal, chief of Mahavir Mandir Trust, told The National.

Initial designs of the temple drew influence from Angkor Wat, a Unesco World Heritage site, but Mr Kunal said the Cambodian government had objected to the plan.

The design was later changed and is now inspired by various Hindu temples including the renowned Lord Shiva temple in Rameshwaram in southern Tamil Nadu.

The complex will be spread across sprawling 48 hectares of land and will have 18 temples with towering spires and a Shiva temple with the world’s largest Shivling, a unique form of Lord Shiva’s idol — measuring 10 metres both in height and circumference.

Building will begin next month and is expected to take five years. The cost of the construction is estimated at 5 billion rupees ($65.7m).

Mr Kunal said everyone would be welcome at the temple, regardless of religion or caste.

“The temple would be open for everyone … there would not be any religious divide,” he said.

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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.”

The specs

Engine: 4.0-litre V8 twin-turbocharged and three electric motors

Power: Combined output 920hp

Torque: 730Nm at 4,000-7,000rpm

Transmission: 8-speed dual-clutch automatic

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On sale: Now, deliveries expected later in 2025

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Health Valley

Founded in 2002 and set up as a foundation in 2006, Health Valley has been an innovation in healthcare for more than 10 years in Nijmegen, the Netherlands.
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The Facility’s Versatility

Between the start of the 2020 IPL on September 20, and the end of the Pakistan Super League this coming Thursday, the Zayed Cricket Stadium has had an unprecedented amount of traffic.
Never before has a ground in this country – or perhaps anywhere in the world – had such a volume of major-match cricket.
And yet scoring has remained high, and Abu Dhabi has seen some classic encounters in every format of the game.
 
October 18, IPL, Kolkata Knight Riders tied with Sunrisers Hyderabad
The two playoff-chasing sides put on 163 apiece, before Kolkata went on to win the Super Over
 
January 8, ODI, UAE beat Ireland by six wickets
A century by CP Rizwan underpinned one of UAE’s greatest ever wins, as they chased 270 to win with an over to spare
 
February 6, T10, Northern Warriors beat Delhi Bulls by eight wickets
The final of the T10 was chiefly memorable for a ferocious over of fast bowling from Fidel Edwards to Nicholas Pooran
 
March 14, Test, Afghanistan beat Zimbabwe by six wickets
Eleven wickets for Rashid Khan, 1,305 runs scored in five days, and a last session finish
 
June 17, PSL, Islamabad United beat Peshawar Zalmi by 15 runs
Usman Khawaja scored a hundred as Islamabad posted the highest score ever by a Pakistan team in T20 cricket

The Settlers

Director: Louis Theroux

Starring: Daniella Weiss, Ari Abramowitz

Rating: 5/5

Age 26

Born May 17, 1991

Height 1.80 metres

Birthplace Sydney, Australia

Residence Eastbourne, England

Plays Right-handed

WTA titles 3

Prize money US$5,761,870 (Dh21,162,343.75)

Wins / losses 312 / 181

Community Shield info

Where, when and at what time Wembley Stadium in London on Sunday at 5pm (UAE time)

Arsenal line up (3-4-2-1) Petr Cech; Rob Holding, Per Mertesacker, Nacho Monreal; Hector Bellerin, Mohamed Elneny, Granit Xhaka, Alex Oxlade-Chamberlain; Alex Iwobi, Danny Welbeck; Alexandre Lacazette

Arsenal manager Arsene Wenger

Chelsea line up (3-4-2-1) Thibaut Courtois; Cesar Azpilicueta, David Luiz, Gary Cahill; Victor Moses, Cesc Fabregas, N'Golo Kante, Marcos Alonso; Willian, Pedro; Michy Batshuayi

Chelsea manager Antonio Conte

Referee Bobby Madley

Updated: March 22, 2022, 12:37 PM