• Saeed Al Tayer, chief executive of Dubai Electricity and Water Authority, visited the reservoir project in Hatta to review its progress. All photos: DEWA
    Saeed Al Tayer, chief executive of Dubai Electricity and Water Authority, visited the reservoir project in Hatta to review its progress. All photos: DEWA
  • The latest images of Hatta's new reservoir project show it is more than one third complete.
    The latest images of Hatta's new reservoir project show it is more than one third complete.
  • It is being built by Dewa at a cost of about Dh86 million.
    It is being built by Dewa at a cost of about Dh86 million.
  • The project includes the construction of two reservoirs plus supporting buildings.
    The project includes the construction of two reservoirs plus supporting buildings.
  • The structural foundation work is already finished. The above-ground work is 27 per cent complete and nearly 35 per cent of the pipes have been laid.
    The structural foundation work is already finished. The above-ground work is 27 per cent complete and nearly 35 per cent of the pipes have been laid.
  • Officials said the reservoir project was 36.25 per cent finished.
    Officials said the reservoir project was 36.25 per cent finished.
  • It has a capacity of around 30 million gallons of desalinated water, and is expected to be completed by April next year.
    It has a capacity of around 30 million gallons of desalinated water, and is expected to be completed by April next year.

Latest images of Hatta's new reservoir show structure more than one third complete


Sarah Forster
  • English
  • Arabic

The latest images of construction at Hatta's new reservoir show it to be more than one third complete.

Officials released the photographs on Monday. They said the reservoir was 36.25 per cent of the way to completion and more than 4 per cent ahead of schedule.

It is being built by the Dubai Electricity and Water Authority (Dewa) at a cost of approximately Dh86 million ($23.4m). It will have capacity of about 30 million gallons of desalinated water and is expected to be completed by April of next year.

The project includes two reservoirs plus a substation, operations building, equipment storage, chemical storage, and a chlorine dioxide handling building.

The foundation works for all facilities and reservoirs are finished, while the above-ground works are 27 per cent complete, and nearly 35 per cent of the pipes have been laid.

“We aim to establish Dubai’s leading position in the region, as an example of an effective and efficient infrastructure for electricity and water networks, to meet current and future requirements for all aspects of development in the Emirate,” said Saeed Al Tayer, chief executive of Dewa, who visited the reservoir to inspect its progress.

“We also support Dubai’s comprehensive approach to ensuring the sustainability of water resources in line with the Dubai Integrated Water Resource Management Strategy 2030, which focuses on enhancing water resources, using cutting-edge technologies and innovative solutions.

“Dewa’s production capacity is currently 490 million imperial gallons of desalinated water per day,” he said.

Dewa is also responsible for the construction of the Hatta Hydroelectric power plant.

The first of its kind in the Arab Gulf region, investment in the project is estimated at Dh1.421 billion.

“The plant will have a capacity of 250 megawatts and a storage capacity of 1,500 megawatt-hours,” Mr Al Tayer said.

Dewa has two other pioneering projects in Hatta — Dubai Mountain Peak and the Hatta Sustainable Waterfalls. These are aimed at promoting Hatta’s position as a big tourist destination in Dubai.

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Friday, November 1 – Oman v UAE
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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.”

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GOLF’S RAHMBO

- 5 wins in 22 months as pro
- Three wins in past 10 starts
- 45 pro starts worldwide: 5 wins, 17 top 5s
- Ranked 551th in world on debut, now No 4 (was No 2 earlier this year)
- 5th player in last 30 years to win 3 European Tour and 2 PGA Tour titles before age 24 (Woods, Garcia, McIlroy, Spieth)

ICC T20 Team of 2021

Jos Buttler, Mohammad Rizwan, Babar Azam, Aiden Markram, Mitchell Marsh, David Miller, Tabraiz Shamsi, Josh Hazlewood, Wanindu Hasaranga, Mustafizur Rahman, Shaheen Afridi

Updated: June 13, 2022, 2:59 PM