DUBAI // There is little to indicate that Tony Caden's house in the Jumeirah Islands is, in its own small way, at the forefront of an energy revolution.
Hidden from the street, 38 solar panels power the house and a 20-tonne chiller unit cools it.
The solar array has also allowed Mr Caden to cut off the controversial district cooling provided by Nakheel.
The gated community of Jumeirah Islands has had a long-running row with the developer over the cost of the cooling it provides; a cost that has nearly doubled over the past year.
"I've totally gone off district cooling from last month," said Mr Caden, a Briton who has lived in Dubai for 15 years and in 2005 became one of the first homeowners in the development.
"I was ecstatic when this was installed because it cuts me off from Nakheel. It's invaluable because it gives me control over the quality of my life.
"As soon as Nakheel put up the price of district cooling last year to Dh1.4 per unit, that started me looking for alternatives because the cost was astronomical."
Mr Caden, 60, estimated that he would recover his Dh176,500 investment in energy savings over the next five years.
But it was not just the cost that led him to go solar. He also wanted to reduce his carbon footprint.
"That was one of my aims," he said. "It's not just to keep the cost down. It's nice to know that you can increase the use of alternative energy."
Nakheel did not respond to questions on whether it would support the initiative by Mr Caden, who runs a service company in the oil and gas industry.
Legally he is within his rights as the owner of a freehold property, said Shahram Safai, the head of property at Afridi and Angell legal consultants.
"In the end, district cooling is a service and someone cannot force you to take a service if you don't want it," Mr Safai said.
"If it's an intention to have a cost-effective way to cool the villa, I don't think he can be prevented from doing so as long as, aesthetically, you have not changed how it looks to your neighbours."
He said even if there were a clause requiring that all owners must use district cooling, it was unlikely it could be legally enforced because it is a freehold property, meaning Mr Caden has the full right of ownership.
The sloping-roofed villa looks like any other well-tended home in the community. Mr Caden has stuck to the rules that stipulate no external changes to the villa, and the panels cannot be seen from the front of the house.
But the rules have also prevented his home from being entirely reliant on solar power.
The solar panels fit into empty spaces above the garage ceiling and the roof. The green energy produces between 50 and 70 kilowatts during daylight hours.
But Mr Caden's property uses 90kw of power over a 24-hour period, leaving a deficit of 20 to 40kw a day.
The solar power is supported by energy from the Dubai Electricity and Water Authority (Dewa) during the day, and Dewa is the sole source of power when the solar panels stop working at night.
"The system sometimes draws power from Dewa, and sometimes it won't when there is enough energy in the house," said James Alexander, who runs Solar Sun 4 Life UK, the British-certified solar installation company that set up the unit.
"The solar panels in the morning absorb UV [ultraviolet] radiation and, as it gets to lunchtime, these are producing the most energy when maximum energy is needed to run the chiller.
"From the solar panels it goes to the inverter and gets converted into AC electric power, and then it is distributed throughout the house.
"If your chiller is not being used, then power is available to run other appliances. It can go to the fridge, the pool, the cooker, the lights."
Community rules did not permit terracotta solar panels to be fitted on Mr Caden's roof. They would have generated enough power to run the whole house all day.
The villa has also been painted with a special coating designed to reflect the sun's rays, producing a cooling effect.
"We had to conform to the regulations so we haven't changed the aesthetics," Mr Alexander said.
"Once the rules relax in favour of solar, then we can put terracotta solar panels of the same colour as the tiles and can fully run the house."
Mr Caden's move has raised considerable interest with residents unhappy with the varying district-cooling charges.
"Four or five bills of Dh5,000 to Dh6,000 will start biting people, as that's a huge increase," said Kamal Kotecha, another British national.
"In the end we are human beings. We will compare costs, and people will naturally look at alternatives like Tony has found."
rtalwar@thenational.ae
Henrik Stenson's finishes at Abu Dhabi HSBC Championship:
2006 - 2
2007 - 8
2008 - 2
2009 - MC
2010 - 21
2011 - 42
2012 - MC
2013 - 23
2014 - MC
2015 - MC
2016 - 3
2017 - 8
The specs
Engine: Four electric motors, one at each wheel
Power: 579hp
Torque: 859Nm
Transmission: Single-speed automatic
Price: From Dh825,900
On sale: Now
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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.”
The Sand Castle
Director: Matty Brown
Stars: Nadine Labaki, Ziad Bakri, Zain Al Rafeea, Riman Al Rafeea
Rating: 2.5/5
The White Lotus: Season three
Creator: Mike White
Starring: Walton Goggins, Jason Isaacs, Natasha Rothwell
Rating: 4.5/5
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APPLE IPAD MINI (A17 PRO)
Display: 21cm Liquid Retina Display, 2266 x 1488, 326ppi, 500 nits
Chip: Apple A17 Pro, 6-core CPU, 5-core GPU, 16-core Neural Engine
Storage: 128/256/512GB
Main camera: 12MP wide, f/1.8, digital zoom up to 5x, Smart HDR 4
Front camera: 12MP ultra-wide, f/2.4, Smart HDR 4, full-HD @ 25/30/60fps
Biometrics: Touch ID, Face ID
Colours: Blue, purple, space grey, starlight
In the box: iPad mini, USB-C cable, 20W USB-C power adapter
Price: From Dh2,099
North Pole stats
Distance covered: 160km
Temperature: -40°C
Weight of equipment: 45kg
Altitude (metres above sea level): 0
Terrain: Ice rock
South Pole stats
Distance covered: 130km
Temperature: -50°C
Weight of equipment: 50kg
Altitude (metres above sea level): 3,300
Terrain: Flat ice
Living in...
This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.
The rules on fostering in the UAE
A foster couple or family must:
- be Muslim, Emirati and be residing in the UAE
- not be younger than 25 years old
- not have been convicted of offences or crimes involving moral turpitude
- be free of infectious diseases or psychological and mental disorders
- have the ability to support its members and the foster child financially
- undertake to treat and raise the child in a proper manner and take care of his or her health and well-being
- A single, divorced or widowed Muslim Emirati female, residing in the UAE may apply to foster a child if she is at least 30 years old and able to support the child financially
Our legal consultant
Name: Dr Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
Movie: Saheb, Biwi aur Gangster 3
Producer: JAR Films
Director: Tigmanshu Dhulia
Cast: Sanjay Dutt, Jimmy Sheirgill, Mahie Gill, Chitrangda Singh, Kabir Bedi
Rating: 3 star
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 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
Squad
Ali Kasheif, Salim Rashid, Khalifa Al Hammadi, Khalfan Mubarak, Ali Mabkhout, Omar Abdulrahman, Mohammed Al Attas, Abdullah Ramadan, Zayed Al Ameri (Al Jazira), Mohammed Al Shamsi, Hamdan Al Kamali, Mohammed Barghash, Khalil Al Hammadi (Al Wahda), Khalid Essa, Mohammed Shaker, Ahmed Barman, Bandar Al Ahbabi (Al Ain), Al Hassan Saleh, Majid Suroor (Sharjah) Walid Abbas, Ahmed Khalil (Shabab Al Ahli), Tariq Ahmed, Jasim Yaqoub (Al Nasr), Ali Saleh, Ali Salmeen (Al Wasl), Hassan Al Muharami (Baniyas)
2025 Fifa Club World Cup groups
Group A: Palmeiras, Porto, Al Ahly, Inter Miami.
Group B: Paris Saint-Germain, Atletico Madrid, Botafogo, Seattle.
Group C: Bayern Munich, Auckland City, Boca Juniors, Benfica.
Group D: Flamengo, ES Tunis, Chelsea, Leon.
Group E: River Plate, Urawa, Monterrey, Inter Milan.
Group F: Fluminense, Borussia Dortmund, Ulsan, Mamelodi Sundowns.
Group G: Manchester City, Wydad, Al Ain, Juventus.
Group H: Real Madrid, Al Hilal, Pachuca, Salzburg.
Jigra
Starring: Alia Bhatt, Vedang Raina, Manoj Pahwa, Harsh Singh
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)
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How it works
Booklava works on a subscription model. On signing up you receive a free book as part of a 30-day-trial period, after which you pay US$9.99 (Dh36.70) per month to gain access to a library of books and discounts of up to 30 per cent on selected titles. You can cancel your subscription at any time. For more details go to www.booklava.com
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