Abu Dhabi has unveiled plans to transform Al Maryah Island waterfront into an all-year-round visitor attraction, in support of the capital's surging tourism sector.
Al Maryah Waterfront enhancement project will feature a 30-metre-high luminous sphere, enveloped in flowing water and surrounded by 1,000 AI-powered jets of water soaring 75 metres, set to music by composer Ramin Djawadi.
The dazzling display will be the centrepiece of a project being delivered by Mubadala Investment Company, Abu Dhabi’s strategic investment arm.
A ground-breaking ceremony has been held to signal the start of work on the development, which is the latest project launched as part of Abu Dhabi's plans to be a magnet for both domestic and global tourism.
The scheme will also include a sea boardwalk extension, offering access to the water’s edge, a shaded outdoor cooling system to make summer visits more comfortable and a new food and beverage zone.
An opening date has not been disclosed.
"The Al Maryah Waterfront enhancement project is a strategic investment in the future of Al Maryah Island,” said Dr Bakheet Al Katheeri, chief executive of UAE Investments at Mubadala.
“This project will deliver iconic elements that elevate the quality of life and offer a diverse experience for visitors, while reinforcing the island’s position as a premier lifestyle destination.”
Latest chapter in island's rise
Mubadala has overseen the rise to prominence of Al Maryah Island since 2007. Previously known as Sowwah Island, it was rebranded in 2012 by the government as part of a drive to cement its status as a leading leisure, retail and entertainment hot spot.
Al Maryah refers to a historical village in Liwa Oasis abundantly inhabited by purebred Arabian oryx.
The sprawling island is already home to two five-star hotels, a major mall, The Abu Dhabi Global Market, Abu Dhabi's financial centre, Cleveland Clinic Abu Dhabi and a wide variety of global retail brands and restaurants.
Tourism and property boom
The Al Maryah waterfront project is the latest major development to be announced for Abu Dhabi in recent months.
In May, it was revealed that the first Disney theme park in the Middle East is to open in the UAE capital.
Disneyland Abu Dhabi will be built on Yas Island by Miral, with Disney leading the creative design and operational oversight.
The park "will be authentically Disney and distinctly Emirati, an oasis of extraordinary Disney entertainment that is at the crossroads of the world", Disney chief executive Bob Iger said at the time.
The new park will join other tourist attractions on the island, including Ferrari World, Warner Bros World Abu Dhabi and Yas Waterworld.
Sphere, the spectacular Las Vegas entertainment venue, is also coming to Abu Dhabi.
The UAE's version will retain many of the original’s features, including the shape it takes its name from plus its exterior and interior surfaces made of LED screen technology, which will enable striking visual displays.
Abu Dhabi added 37,000 jobs to its tourism sector last year as more visitors flocked to the emirate's hotels, restaurants and attractions amid increased investment in promotional campaigns globally.
Aldar Properties, Abu Dhabi’s biggest listed developer, last month unveiled the master plan for Fahid Island, with a gross development value of more than Dh40 billion ($10.9 billion) amid a boom in the UAE’s property market.
More than 6,000 luxury residences are planned for the 2.7 million square metre island, from apartments and townhouses to ultra-luxury villas.
The project will also feature two hotels, with one of them set to be announced shortly, Jonathan Emery, chief executive of Aldar Development, told The National on the sidelines of the project launch.
How to keep control of your emotions
If your investment decisions are being dictated by emotions such as fear, greed, hope, frustration and boredom, it is time for a rethink, Chris Beauchamp, chief market analyst at online trading platform IG, says.
Greed
Greedy investors trade beyond their means, open more positions than usual or hold on to positions too long to chase an even greater gain. “All too often, they incur a heavy loss and may even wipe out the profit already made.
Tip: Ignore the short-term hype, noise and froth and invest for the long-term plan, based on sound fundamentals.
Fear
The risk of making a loss can cloud decision-making. “This can cause you to close out a position too early, or miss out on a profit by being too afraid to open a trade,” he says.
Tip: Start with a plan, and stick to it. For added security, consider placing stops to reduce any losses and limits to lock in profits.
Hope
While all traders need hope to start trading, excessive optimism can backfire. Too many traders hold on to a losing trade because they believe that it will reverse its trend and become profitable.
Tip: Set realistic goals. Be happy with what you have earned, rather than frustrated by what you could have earned.
Frustration
Traders can get annoyed when the markets have behaved in unexpected ways and generates losses or fails to deliver anticipated gains.
Tip: Accept in advance that asset price movements are completely unpredictable and you will suffer losses at some point. These can be managed, say, by attaching stops and limits to your trades.
Boredom
Too many investors buy and sell because they want something to do. They are trading as entertainment, rather than in the hope of making money. As well as making bad decisions, the extra dealing charges eat into returns.
Tip: Open an online demo account and get your thrills without risking real money.
The biog
Marital status: Separated with two young daughters
Education: Master's degree from American Univeristy of Cairo
Favourite book: That Is How They Defeat Despair by Salwa Aladian
Favourite Motto: Their happiness is your happiness
Goal: For Nefsy to become his legacy long after he is gon
The Details
Article 15
Produced by: Carnival Cinemas, Zee Studios
Directed by: Anubhav Sinha
Starring: Ayushmann Khurrana, Kumud Mishra, Manoj Pahwa, Sayani Gupta, Zeeshan Ayyub
Our rating: 4/5
TEST SQUADS
Bangladesh: Mushfiqur Rahim (captain), Tamim Iqbal, Soumya Sarkar, Imrul Kayes, Liton Das, Shakib Al Hasan, Mominul Haque, Nasir Hossain, Sabbir Rahman, Mehedi Hasan, Shafiul Islam, Taijul Islam, Mustafizur Rahman and Taskin Ahmed.
Australia: Steve Smith (captain), David Warner, Ashton Agar, Hilton Cartwright, Pat Cummins, Peter Handscomb, Matthew Wade, Josh Hazlewood, Usman Khawaja, Nathan Lyon, Glenn Maxwell, Matt Renshaw, Mitchell Swepson and Jackson Bird.
RESULTS
5pm Maiden (PA) Dh70,000 (Dirt) 1,400m
Winner AF Nashrah, Tadhg O’Shea (jockey), Ernst Oertel (trainer)
5.30pm Maiden (PA) Dh70,000 (D) 1,400m
Winner Mutaqadim, Riccardo Iacopini, Ibrahim Al Hadhrami.
6pm Maiden (PA) Dh70,000 (D) 1,600m
Winner Hameem, Jose Santiago, Abdallah Al Hammadi.
6.30pm Maiden (PA) Dh70,000 (D) 1,600m
Winner AF Almomayaz, Sandro Paiva, Ali Rashid Al Raihe.
7pm Handicap (PA) Dh70,000 (D) 1,800m
Winner Dalil Al Carrere, Fernando Jara, Mohamed Daggash.
7.30pm Handicap (TB) Dh70,000 (D) 1,000m
Winner Lahmoom, Royston Ffrench, Salem bin Ghadayer.
8pm Handicap (PA) Dh70,000 (D) 1,000m
Winner Jayide Al Boraq, Bernardo Pinheiro, Khalifa Al Neyadi.
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Zayed Sustainability Prize
