AD200810312199957AR
AD200810312199957AR

Comment: Keep left for the Twilight Zone



Mahmoud Kaabour If Al Ittihad Road were a film, it would be so painfully slow and long-winded that a third of viewers would probably ask for their money back within the first 10 minutes. Unlike a film screening, however, the notorious highway between Sharjah and Dubai does not allow for a change of mind. Once the 10 minutes are through, a driver's endurance and sanity are put to the test in a traffic gridlock that gets many Sharjah residents breaking down every day - in tears or in wet pants.

My parents and sisters are among the disenfranchised masses who have been driving Al Ittihad Road for so many years. I see eight clogged lanes in their eyes when any of us dares to make the journey to meet up. Their bodies are decorated with its unique accolades: shaky hands, aggravated slip discs, stiff necks and hypertrophied right calves. The road has cost them a big share of their lives in the UAE and separated us while it masqueraded as an urban link.

Its mere seven kilometres eat up an average hour and a half to cover, with drivers proceeding by intermittently releasing their brakes. During evening rush, the crossing back to Sharjah can take up to two and half hours, not including rage-induced collisions that plunge the infinite vehicular serpent into further slowness. Al Ittihad is also a lot of science fiction. It's a road that seems to grow longer in the morning and shrink back to its actual length by late night. It's a rite of passage, setting its travellers into dark internalisations that make them speak to dashboards and scream behind closed windows. Time expands on its lanes like in another dimension, with the "rush hour" stretching into four. It's a road that challenges science by discrediting the invention of the wheel. Not so long ago, it was ironically enhanced by flash radars for much-needed comic relief. Were the great poet Robert Frost alive, he might have written The Only Road instead of The Road Not Taken: a eulogy to human choice to which Sharjah residents are not entitled. It gets more vengeful every day for not being anybody's favourite road. And its narratives are defining an entire generation, the way a war or a famine would in another country.

Like many Arab families, my parents settled in Sharjah in the late 1980s when this road was its selling point: "Enjoy living among the vibrant Arab community in Sharjah and send your kids to the finest international schools, 10 minutes away in Dubai." I can almost remember it in a reassuring radio presenter's voice, and it was true indeed. My sister and I often reached Al Nasr Cinema in Bur Dubai before we could settle on which movie to watch.

My fondest memories from high school, a good 15 years ago, are the bus rides back to Sharjah. I used to dream of what was to come for me in life as I stared out of the window at the rapidly shifting desert. But the landscape shifted slower year after year. Construction sites started dotting both sides of the road and residential towers rose high, as rents in Dubai rose even higher. That is how the exodus to the new peripheral neighbourhoods of Al Nahda and Al Tawon began. Within a few years, Al Ittihad became an alley in the skin of a highway, overextended under the tens of thousands of commuters who work and study in Dubai but can afford to live only in Sharjah. With rents still aiming for the sky, Al Ittihad might one day get jammed beyond any recognisable mobility, permanently disconnecting the two emirates.

My youngest sister and pride, Maya, is studying at Al Mawakeb School in Dubai as I and my other sister did. But living in Sharjah is proving a dire paradigm for her young body. She might be Sharjah's earliest riser, beating birds and the dawn call to prayer with her 4.45am alarm. She dresses, skips breakfast and then takes the bus at 5.15am to get to school by 8. At 2.30pm she takes the bus back to arrive home for a lukewarm lunch at 4.15pm. Maya's school bag includes accessories that I never had, such as the bus pillow and blanket that she also uses for naps in the playground during break time. She naps most of the afternoon and evening, and gets to homework around 9pm, studying until bedtime at midnight. Her sleep, and that of her schoolmates on the Sharjah bus, is intermittent. She is often tired, down with chronic colds and dreaming of guitar lessons.

Maya's favourite part of the week is "hyper day", made possible whenever I take one for the team and leave my desk at Dubai Media City around midday to tackle Al Ittihad Road. I eat a late lunch with her and my parents, and then drive her back to my flat in Bur Dubai to spend the night. There she finishes homework and enjoys nine hours of sound sleep before I drop her at school in the morning in a mere 15 minutes. At my place, Maya is most jubilant about rising after the Sun has. Her energy on "hyper day" causes alarm among her exhausted friends and good grades whenever exams are given. It is also a day that incurs financial losses for my business.

My father has been doing a lot of business in Abu Dhabi as of late. An 11am meeting in Khalidiya somehow translates into a total of 10 hours of driving and no other business completed except the meeting. He says he spends a lot of time at petrol stations, drinking tea and stretching; not the most comforting thought. He rarely has the energy to visit me in Dubai. "There are no hours left to drive," he says.

My other sister, Marwa, has gone through all imaginable transformations doing the rush hour drive for four years. She's read books, explored new music genres, called clients and spoken to dashboards while driving to work and back. Her trips on Al Ittihad were also the times when we bonded, with her calling me in Canada for good one-hour chats in which she described her and her friends' driving experiences, giving me many of the notes for this column. While driving one morning she made the decision that has changed her life since: to move to Dubai and never visit Sharjah again.

My mother is blessed with a job that she gets to on foot. She invests her free time cooking comfort food for her children. But she is often heartbroken at the lack of messengers who will carry it to Dubai on her behalf. I live on the convenient Mina Road in Dubai and feel as distant from my family as I did in Canada. I try to constructively think of what can be done to Al Ittihad Road to ease this misery. With all expansions and freeways failing so far and "The Union" continuing instead to divide and alienate, I feel it might be time this road was at least renamed.

Mahmoud Kaabour is an award-winning filmmaker who lives in Dubai

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.”

UPI facts

More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions

The specS: 2018 Toyota Camry

Price: base / as tested: Dh91,000 / Dh114,000

Engine: 3.5-litre V6

Gearbox: Eight-speed automatic

Power: 298hp @ 6,600rpm

Torque: 356Nm @ 4,700rpm

Fuel economy, combined: 7.0L / 100km

How to protect yourself when air quality drops

Install an air filter in your home.

Close your windows and turn on the AC.

Shower or bath after being outside.

Wear a face mask.

Stay indoors when conditions are particularly poor.

If driving, turn your engine off when stationary.

Election pledges on migration

CDU: "Now is the time to control the German borders and enforce strict border rejections" 

SPD: "Border closures and blanket rejections at internal borders contradict the spirit of a common area of freedom" 

A MINECRAFT MOVIE

Director: Jared Hess

Starring: Jack Black, Jennifer Coolidge, Jason Momoa

Rating: 3/5

Manchester United v Club America

When: Thursday, 9pm Arizona time (Friday UAE, 8am)

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Key facilities
  • Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
  • Premier League-standard football pitch
  • 400m Olympic running track
  • NBA-spec basketball court with auditorium
  • 600-seat auditorium
  • Spaces for historical and cultural exploration
  • An elevated football field that doubles as a helipad
  • Specialist robotics and science laboratories
  • AR and VR-enabled learning centres
  • Disruption Lab and Research Centre for developing entrepreneurial skills