Earlier this summer, the style magazine Monocle published its annual Quality of Life surveys where it identifies what it judges to be the top 25 cities in the world. It is an interesting reflection on what makes people excited to live where they do.
Helsinki, Finland's capital, topped the list.
I know what you are thinking: why would a city where the sun doesn't shine much for a large proportion of the year get rated as the best place to live in the world?
Monocle says Helsinki's selection is due to its "fundamental courage to rethink its urban ambitions, and for possessing the talent, ideas and guts to pull it off. Crime is low, unemployment rates sound, the education system world class, and the city's food culture is thriving. Entrepreneurship and innovation is present in a young, skilled and technically proficient business culture. And the city's hardware generally manages to perform like a dream."
I think we'd all agree these are strong elements for any great city.
Trying to define the characteristics of what makes a city a great place to live is an issue never far from the top of the agenda for civic authorities, urban planners, architects and developers.
So what makes a city "liveable"?
Over recent years there have been attempts to apply scientific criteria to the question of a "liveable city". Designed with the original intention of helping multinational companies decide where to open offices or plants and how much to pay employees, through relative grades in areas such as stability, health care, culture and environment, education, and infrastructure, such lists attract much attention and discussion.
The annual Quality of Living Survey from the consulting firm Mercer compares 221 cities based on 39 criteria. New York is given a baseline score of 100 and other cities are rated in comparison. Important criteria are safety, education, hygiene, health care, culture, environment, recreation, political-economic stability and public transport. The top of the list is dominated by Europe. It is not the only ranking list with a rather Anglo-Saxon perspective.
In the annual list compiled by The Economist magazine, Canada, Australia and New Zealand top the list, with Vancouver at the number one spot. The Economist explains its criteria thus: "Cities that score best tend to be mid-sized cities in wealthier countries with a relatively low population density. This often fosters a broad range of recreational availability without leading to high crime levels or overburdened infrastructure."
That sounds like Abu Dhabi.
But Abu Dhabi is not close to the top of these league tables of liveable cities. I don't want to dismiss the beautiful cities that consistently top the liveable lists of Forbes magazine, Mercer and The Economist - Vancouver, Vienna, Zurich, Geneva, Copenhagen and Munich. They are clean and peaceful and well designed - all great characteristics in a city. But they are rather monocultural; they lack the friction, the energy and the buzz that make some cities more exciting places to live.
A more interesting best place to live list came from readers of the Financial Times, in May this year. Numbers two and three on the FT's list were London and New York. No surprises there for their fans in the UAE: both have energy and excitement (and lots more besides) that many people look for in a place to live.
But the city that came out top was Istanbul. Surprising? Not really. There is nothing boring about Istanbul. It is cosmopolitan, busy, young in its population but historic in its fabric, socially mixed, accessible and a city that has always built on its status as a bridge between not just continents but civilisations, ideas, religions and peoples. Istanbul is an exciting city. Could you have an enjoyable and exciting time there? Definitely. Live there? Possibly.
And that is precisely the issue when it comes to liveability. Everyone's criteria are different. After the mandatory issues such as safety, low crime, efficient infrastructure, far-sighted government and thriving economy, the rest is really up for grabs; a matter of personal choice.
So what about Abu Dhabi? From the perspective of the liveability indexes, it has many advantages. It is able to learn from the examples of other cities and incorporate the best into its plans - in education, healthcare, leisure, enterprise and infrastructure. The development of Abu Dhabi is focused on developing community environments that meet the needs of one of the most diversely populated cities in the Middle East. Its position as a relatively new city makes it easier to initiate measures - from infrastructure to recycling - than in a more established metropolis.
As the French philosopher Rene Descartes wrote when describing Amsterdam in the 17th century, a great city should be "an inventory of the possible".
There is no doubt residents in Abu Dhabi are on a journey towards fulfilling their own list of dreams and our ambitions of the possible.
But the heart of a city cannot be located in buildings, plans and statistics. This lies in its people. Throughout the world the cities that are most alive, most "liveable" contain a mix of social and economic classes. When cities are doing things right, lots of people want to come to live in them, with a resulting buzz that comes from a diversity of population.
These are characteristics at the heart of great cities. You won't find them in a list. In these, Abu Dhabi is strong. And could be great.
* Mohamed Khalifa Al Mubarak is the deputy chief executive of Aldar Properties.
Test
Director: S Sashikanth
Cast: Nayanthara, Siddharth, Meera Jasmine, R Madhavan
Star rating: 2/5
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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.
The specs: 2019 Haval H6
Price, base: Dh69,900
Engine: 2.0-litre turbocharged four-cylinder
Transmission: Seven-speed automatic
Power: 197hp @ 5,500rpm
Torque: 315Nm @ 2,000rpm
Fuel economy, combined: 7.0L / 100km
The National's picks
4.35pm: Tilal Al Khalediah
5.10pm: Continous
5.45pm: Raging Torrent
6.20pm: West Acre
7pm: Flood Zone
7.40pm: Straight No Chaser
8.15pm: Romantic Warrior
8.50pm: Calandogan
9.30pm: Forever Young
If you go
The flights
Emirates and Etihad fly direct to Nairobi, with fares starting from Dh1,695. The resort can be reached from Nairobi via a 35-minute flight from Wilson Airport or Jomo Kenyatta International Airport, or by road, which takes at least three hours.
The rooms
Rooms at Fairmont Mount Kenya range from Dh1,870 per night for a deluxe room to Dh11,000 per night for the William Holden Cottage.
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At a glance
Global events: Much of the UK’s economic woes were blamed on “increased global uncertainty”, which can be interpreted as the economic impact of the Ukraine war and the uncertainty over Donald Trump’s tariffs.
Growth forecasts: Cut for 2025 from 2 per cent to 1 per cent. The OBR watchdog also estimated inflation will average 3.2 per cent this year
Welfare: Universal credit health element cut by 50 per cent and frozen for new claimants, building on cuts to the disability and incapacity bill set out earlier this month
Spending cuts: Overall day-to day-spending across government cut by £6.1bn in 2029-30
Tax evasion: Steps to crack down on tax evasion to raise “£6.5bn per year” for the public purse
Defence: New high-tech weaponry, upgrading HM Naval Base in Portsmouth
Housing: Housebuilding to reach its highest in 40 years, with planning reforms helping generate an extra £3.4bn for public finances
Company profile
Name: Infinite8
Based: Dubai
Launch year: 2017
Number of employees: 90
Sector: Online gaming industry
Funding: $1.2m from a UAE angel investor
Real estate tokenisation project
Dubai launched the pilot phase of its real estate tokenisation project last month.
The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.
Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.
The biog
Mission to Seafarers is one of the largest port-based welfare operators in the world.
It provided services to around 200 ports across 50 countries.
They also provide port chaplains to help them deliver professional welfare services.
The biog
Favourite food: Fish and seafood
Favourite hobby: Socialising with friends
Favourite quote: You only get out what you put in!
Favourite country to visit: Italy
Favourite film: Lock Stock and Two Smoking Barrels.
Family: We all have one!
The White Lotus: Season three
Creator: Mike White
Starring: Walton Goggins, Jason Isaacs, Natasha Rothwell
Rating: 4.5/5
MATCH INFO
Burnley 1 (Brady 89')
Manchester City 4 (Jesus 24', 50', Rodri 68', Mahrez 87')
The biog
Born: near Sialkot, Pakistan, 1981
Profession: Driver
Family: wife, son (11), daughter (8)
Favourite drink: chai karak
Favourite place in Dubai: The neighbourhood of Khawaneej. “When I see the old houses over there, near the date palms, I can be reminded of my old times. If I don’t go down I cannot recall my old times.”
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 biog
Most memorable achievement: Leading my first city-wide charity campaign in Toronto holds a special place in my heart. It was for Amnesty International’s Stop Violence Against Women program and showed me the power of how communities can come together in the smallest ways to have such wide impact.
Favourite film: Childhood favourite would be Disney’s Jungle Book and classic favourite Gone With The Wind.
Favourite book: To Kill A Mockingbird for a timeless story on justice and courage and Harry Potters for my love of all things magical.
Favourite quote: “We make a living by what we get, but we make a life by what we give.” — Winston Churchill
Favourite food: Dim sum
Favourite place to travel to: Anywhere with natural beauty, wildlife and awe-inspiring sunsets.
The specs: 2018 Volkswagen Teramont
Price, base / as tested Dh137,000 / Dh189,950
Engine 3.6-litre V6
Gearbox Eight-speed automatic
Power 280hp @ 6,200rpm
Torque 360Nm @ 2,750rpm
Fuel economy, combined 11.7L / 100km
Our legal consultant
Name: Dr Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
