Sharjah acts to clear streets of ugly waste



SHARJAH // Unsightly piles of household and industrial waste in residential and commercial areas could become a thing of the past under arrangements announced yesterday to clean up Sharjah. The municipality has signed a partnership deal with Bee'ah, the Sharjah Environment Company, to launch the services of Tandeef, a division of the company that provides street cleaning and waste disposal services.

The agreement will initially see Tandeef's fleet of street sweeping machines and rubbish collection vehicles heading for sector 7, Al Majaz. The largest of Sharjah's residential zones, it is home to about 300,000 people.  The company will service the remaining 13 sectors of the city over the next year to 15 months. Waste collection and cleaning of public areas has until now been carried out by municipality staff.

Tandeef - the Arabic word for cleaning - will take responsibility for collecting, transporting and treating more than 600,000 tonnes of non-hazardous solid waste annually, the company said in a statement yesterday. It will also carry out recycling and "waste minimisation", as well as community awareness programmes.  "The Sharjah City Municipality is pleased to be in partnership with Bee'ah and its division Tandeef, collectively focusing on servicing Sharjah," said Sultan al Mualla, the municipality's director general, at the programme's launch yesterday on Buhairah Corniche.

"Our mission is to ensure that there is a healthy and clean environment for the people of the emirate. Through this programme, Sharjah will be a first-class environmental example with established international standards and procedures." Residents of Sharjah have long complained about the potential health hazards of large piles of rubbish accumulating in streets and industrial zones.  Last October the municipality launched a clean-up campaign and a zero-tolerance approach to littering in industrial areas, where the problem is particularly acute. Piles of waste, wrecked vehicles and discarded vehicle parts in some cases obstructed traffic. The campaign produced limited results.

"We do not want to accuse anyone of failing but significant development in the emirate has called for specialised companies to handle key projects like rubbish collection and waste disposal," said Salim bin Mohamed al Owais, the acting chairman of Bee'ah. "This is not a privatisation of the cleaning sector. The whole work would be [overseen] by Sharjah municipality." Although the municipality has placed bins along many roads, officials say some residents do not use them. Illegal rubbish dumping is said to be especially common in Al Qarayan, an area near Sharjah University City, where an infestation of rats and mice has been reported.

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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

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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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