Amid the UAE's celebration of Innovation Week, which kicks off Sunday, students at the Masdar Institute are working on projects to support the development of the Emirates, including drinking water made from geothermal energy.
However, using this resource as a desalination method, or removing salt from water to make it potable, is under-explored. Savvina Loutatidou, 26, from Greece is trying to change that. “Solar desalination will be implemented in the UAE, but I … thought it would be interesting to know about other [methods],” said the researchr and PhD candidate at the Masdar Institute.
The consumption of desalinated water in Abu Dhabi has nearly doubled over the past decade to 1.126 billion cubic metres from 667 million cubic metres, according to Statistics Centre Abu Dhabi. Yet the price associated with desalination is often high because it is an energy intensive project.
And the geothermal resources present in the UAE is of the low temperature kind – up to 150°C compared with up to 300°C for high “enthalpy”, or temperature, resources – which means it would not be viable for power generation but more suited for direct applications such as cooling and desalination. However, geothermal in the UAE is not yet proven to be cost competitive for desalination even though there are potentially huge fuel savings compared with conventional methods. “If we can get the cost down enough to compete with other sources, then maybe it could be possible,” said Ms Loutatidou.
So far, her research has shown that in the UAE geothermal desalination with low-level temperatures will cost approximately US$2.50 per cubic metre.
Ms Loutatidou is hoping that with more research and development costs can fall. Currently the price for thermal desalination can run from $0.67 to nearly $1.50, according to Saudi Arabia’s King Abdulaziz City for Science and Technology.
“It may not be applicable in the UAE now, but maybe in the future,” said Ms Loutatidou. “I think innovation is … about identifying needs for now and for the future.”
NOVEMBER 22 EVENTS
• Launch of UAE Energy Outlook
• Masdar City: Launch of The Catalyst, the Middle East's first start-up accelerator focused on sustainability
• Dubai Media City announces in5 Media Incubator
• in5 Prototype innovative business models using disruptive tools. At Internet City
• in5 SME Friendly Business tools to help you manage, grow and scale your business. At Internet City
• In5 Why some businesses fail and what you can do about it – now. At Internet City
• Securities & Commodities Authority holds an Innovation Open Day
• The Abu Dhabi Technology Development Committee opens its Innovator Space
• Future Intelligence – Innovations In Banking with Emirates NBD
• The launch of the Hospitality Innovation Lab, TBC
• Official Launch of the Government Communication Team
• Introductory presentation of the innovation seminar delivered by Major-General Abdul Quddus Al Obaidli, commander in chief assistant of quality and excellence affairs at the Chamber of Commerce
• Real Estate Licensing and Registration system, MYCYCD
• Announcing the Permenant Innovation Committee
• Amlak's Innovation Week
• Ministry of Economy, Exhibition featuring Registered Innovators and Inventors in the UAE
• Crescent Enterprises, Arab Social Entrepreneurship Programme (ASEP), TBC
• Dubai Statistics Center, Government's Vision about Creativity & Innovation
• DP World Innovation week
• Ministry of Finance, The Launch of an Innovation Initiative
For more information visit: www.uaeinnovates.gov.ae/events
lgraves@thenational.ae
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Concrete and Gold
Foo Fighters
RCA records
The specs
Engine: 3.0-litre six-cylinder turbo
Power: 398hp from 5,250rpm
Torque: 580Nm at 1,900-4,800rpm
Transmission: Eight-speed auto
Fuel economy, combined: 6.5L/100km
On sale: December
Price: From Dh330,000 (estimate)
Skewed figures
In the village of Mevagissey in southwest England the housing stock has doubled in the last century while the number of residents is half the historic high. The village's Neighbourhood Development Plan states that 26% of homes are holiday retreats. Prices are high, averaging around £300,000, £50,000 more than the Cornish average of £250,000. The local average wage is £15,458.
Company%20Profile
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THE BIO
Favourite book: ‘Purpose Driven Life’ by Rick Warren
Favourite travel destination: Switzerland
Hobbies: Travelling and following motivational speeches and speakers
Favourite place in UAE: Dubai Museum
T20 World Cup Qualifier A, Muscat
Friday, February 18: 10am - Oman v Nepal, Canada v Philippines; 2pm - Ireland v UAE, Germany v Bahrain
Saturday, February 19: 10am - Oman v Canada, Nepal v Philippines; 2pm - UAE v Germany, Ireland v Bahrain
Monday, February 21: 10am - Ireland v Germany, UAE v Bahrain; 2pm - Nepal v Canada, Oman v Philippines
Tuesday, February 22: 2pm – semi-finals
Thursday, February 24: 2pm – final
UAE squad: Ahmed Raza (captain), Muhammad Waseem, Chirag Suri, Vriitya Aravind, Rohan Mustafa, Kashif Daud, Zahoor Khan, Alishan Sharafu, Raja Akifullah, Karthik Meiyappan, Junaid Siddique, Basil Hameed, Zafar Farid, Mohammed Boota, Mohammed Usman, Rahul Bhatia
All matches to be streamed live on icc.tv
Volvo ES90 Specs
Engine: Electric single motor (96kW), twin motor (106kW) and twin motor performance (106kW)
Power: 333hp, 449hp, 680hp
Torque: 480Nm, 670Nm, 870Nm
On sale: Later in 2025 or early 2026, depending on region
Price: Exact regional pricing TBA
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
The specs
Engine: 5.0-litre supercharged V8
Transmission: Eight-speed auto
Power: 575bhp
Torque: 700Nm
Price: Dh554,000
On sale: now
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.”
Our family matters legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
The specs: Fenyr SuperSport
Price, base: Dh5.1 million
Engine: 3.8-litre twin-turbo flat-six
Transmission: Seven-speed automatic
Power: 800hp @ 7,100pm
Torque: 980Nm @ 4,000rpm
Fuel economy, combined: 13.5L / 100km
COMPANY PROFILE
Name: Kumulus Water
Started: 2021
Founders: Iheb Triki and Mohamed Ali Abid
Based: Tunisia
Sector: Water technology
Number of staff: 22
Investment raised: $4 million
The specs
Engine: 4.0-litre flat-six
Torque: 450Nm at 6,100rpm
Transmission: 7-speed PDK auto or 6-speed manual
Fuel economy, combined: 13.8L/100km
On sale: Available to order now
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
Specs
Engine: Duel electric motors
Power: 659hp
Torque: 1075Nm
On sale: Available for pre-order now
Price: On request
