Abu DHABI // The Abu Dhabi Future Energy Company (Masdar) has signed an agreement with the Tourism Development and Investment Company (TDIC) to develop a sustainable energy and water strategy for a nature reserve and resort on an island in the Gulf.
The deal is the first of what Masdar hopes to be a series of advisory roles for developers in Abu Dhabi and the region, as the company expands its business into other sustainable design fields.
"This is our first one, but we are very much looking to do this with more developers in the future," a Masdar spokesman said yesterday. Sir Bani Yas Island, the location of a 64-room resort and spa, is one of eight islands off the coast of the western region of Abu Dhabi that the TDIC is converting into a tourism destination called Desert Islands. The resort is the only facility open on the islands. One night in a room with a sea view costs Dh1,900 (US$517). The resort's main attractions are wildlife, including native flamingos, and exotic fish and reefs.
Masdar and TDIC said yesterday that they would investigate building a sustainable energy and water facility on the island, as well as eco-friendly transport systems and waste-to-energy recycling plants.
"Not only will this help Desert Islands to minimise the environmental impact, but it sends a clear message about Abu Dhabi's intention to play a decisive role in the use and direction of future energy," said Mubarak al Muhairi, the managing director at TDIC. He added that the island project would "become a regional showpiece of sustainability".
TDIC is developing some of Abu Dhabi's most iconic projects. Among them is Saadiyat Island, which will house several museums, including a Guggenheim and a Louvre.
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Jigra
Starring: Alia Bhatt, Vedang Raina, Manoj Pahwa, Harsh Singh
Favourite book: ‘The Art of Learning’ by Josh Waitzkin
Favourite film: Marvel movies
Favourite parkour spot in Dubai: Residence towers in Jumeirah Beach Residence
Race card
5pm: Handicap (PA) Dh80,000 (Turf) 1,600m; 5.30pm: Maiden (PA) Dh80,000 (T) 1,400m
6pm: Handicap (PA) Dh80,000 (T) 1,400m; 6.30pm: Handicap (PA) Dh80,000 (T) 1,200m
7pm: Wathba Stallions Cup Handicap (PA) Dh70,000 (T) 2,200m
7.30pm: Handicap (TB) Dh100,000 (PA) 1,400m
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Result
6.30pm: Al Maktoum Challenge Round-3 – Group 1 (PA) $65,000 (Dirt) 2,000m; Winner: Brraq, Ryan Curatolo (jockey), Jean-Claude Pecout (trainer)
7.05pm: Handicap (TB) $65,000 (Turf) 1,800m; Winner: Bright Melody, James Doyle, Charlie Appleby
7.40pm: Meydan Classic – Listed (TB) $88,000 (T) 1,600m; Winner: Naval Crown, Mickael Barzalona, Charlie Appleby
8.15pm: Nad Al Sheba Trophy – Group 3 (TB) $195,000 (T) 2,810m; Winner: Volcanic Sky, Frankie Dettori, Saeed bin Suroor
8.50pm: Dubai Millennium Stakes – Group 3 (TB) $130,000 (T) 2,000m; Winner: Star Safari, William Buick, Charlie Appleby
9.25pm: Meydan Challenge – Listed Handicap (TB) $88,000 (T) 1,400m; Winner: Zainhom, Dane O’Neill, Musabah Al Muhairi
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COMPANY PROFILE
Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
Total funding: Self funded
Joker: Folie a Deux
Starring: Joaquin Phoenix, Lady Gaga, Brendan Gleeson
Director: Todd Phillips
Rating: 2/5
PROFILE
Name: Enhance Fitness
Year started: 2018
Based: UAE
Employees: 200
Amount raised: $3m
Investors: Global Ventures and angel investors
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Living in...
This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.
Six pitfalls to avoid when trading company stocks
Following fashion
Investing is cyclical, buying last year's winners often means holding this year's losers.
Losing your balance
You end up with too much exposure to an individual company or sector that has taken your fancy.
Being over active
If you chop and change your portfolio too often, dealing charges will eat up your gains.
Running your losers
Investors hate admitting mistakes and hold onto bad stocks hoping they will come good.
Selling in a panic
If you sell up when the market drops, you have locked yourself out of the recovery.
Timing the market
Even the best investor in the world cannot consistently call market movements.
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