DUBAI // Two bridges will be built to provide access to a new mall at a cost of Dh184 million (US$50 million), the Roads and Transport Authority (RTA) said yesterday.
Mirdiff City Centre, a 196,000-square-metre mall with 430 stores, is expected to open next spring. The RTA said it will build a three-lane bridge for traffic bound to the mall from Rashidiya, as well as another bridge to serve traffic bound to the mall from Tripoli Road.
"The project is meant to provide entry and exit points to Mirdiff City Centre from all directions by capitalising on the existing bridges and slopes in addition to constructing new bridges," said Mattar al Tayer, chairman of the board and executive director of the RTA.
Mr al Tayer did not specify a date for completion. The bridges will be built by the Majid al Futtaim Company.
shafez@thenational.ae
How will Gen Alpha invest?
Mark Chahwan, co-founder and chief executive of robo-advisory firm Sarwa, forecasts that Generation Alpha (born between 2010 and 2024) will start investing in their teenage years and therefore benefit from compound interest.
“Technology and education should be the main drivers to make this happen, whether it’s investing in a few clicks or their schools/parents stepping up their personal finance education skills,” he adds.
Mr Chahwan says younger generations have a higher capacity to take on risk, but for some their appetite can be more cautious because they are investing for the first time. “Schools still do not teach personal finance and stock market investing, so a lot of the learning journey can feel daunting and intimidating,” he says.
He advises millennials to not always start with an aggressive portfolio even if they can afford to take risks. “We always advise to work your way up to your risk capacity, that way you experience volatility and get used to it. Given the higher risk capacity for the younger generations, stocks are a favourite,” says Mr Chahwan.
Highlighting the role technology has played in encouraging millennials and Gen Z to invest, he says: “They were often excluded, but with lower account minimums ... a customer with $1,000 [Dh3,672] in their account has their money working for them just as hard as the portfolio of a high get-worth individual.”
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COMPANY PROFILE
Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
Total funding: Self funded